Bitcoin Forum

https://coinbuzzfeed.com/is-trump-about-to-make-bitcoin-the-uss-secret-weapon/

The crypto world is buzzing with the latest rumor: former President Donald Trump might announce a USA Bitcoin strategic reserve. Scheduled to speak at the Bitcoin 2024 Conference in Nashville on July 27, Trump’s potential announcement could mark a monumental shift in the financial landscape. But what does this mean for the future of cryptocurrency in the United States? Let’s dive into this intriguing development.


Trump’s Unexpected Turn Towards Bitcoin
Trump’s history with Bitcoin has been a rollercoaster. He once called Bitcoin a scam and declared his love for the dollar. So, why the sudden pivot?

Rumors have been swirling for weeks, with insiders hinting at a dramatic announcement. Trump, never one to shy away from the spotlight, is expected to reveal plans for a USA Bitcoin strategic reserve. This would be a bold move, signaling a significant endorsement of Bitcoin from a major political figure.

Is Trump About to Make Bitcoin the US’s Secret Weapon?

Sounds exciting until you realize the secret weapon is just an old slot machine without any real world usage

https://i.postimg.cc/v8WLQWSR/u-http-www-gamblersoasisusa-com-Shared-Images-Product-IGT-DOUBLE-DIAMOND-DELUXE-S2000-SLOT-MACHIN.jpg

 :D

If there was no other cryptocurrency options that are doing the job better then Bitcoin could make sense.
Why even bother with Bitcoin when we have Monero ?  ;D

Very difficult to say! Trump is a politician and he is also a businessman by heart. So these kind of people do not have any permanent likes or dislikes. They usually try to capture the flow of the people. If Trump understands that supporting Bitcoin could increase the percentage of votes he is going to get, he might do something positive about it. But I would say not to keep high hopes. Things can change in a blink of an eye.

I don't see Trump doing much for Bitcoin but being a businessman, he may decide to build a Bitcoin/crypto reserve in US like everything else. But that won't be a great news for the common investors like us. Too much of government and corporate money could ruin Bitcoin entirely. yes, we will see increased adoptions and decreased regulatory actions, but at large, it may not benefit the retail investors.

A lot to unfold!

Maybe cause he is contesting in an election and is trying to use any means necessary to sway votes to himself.
It seems to be working good too as many in the crypto world and by extension, the tech and finance niche are talking about Trump, wi h is free publicity. This is also a very good voting bloc to target while also trying to swing young voters to his side with his choice of a running mate.

I will rather we as much as possible leave Bitcoin out of global politics.

Even though Trump announce it July 27, he will not going to make it happen in the land of US because he want to use bitcoin and cryptocurrency to play politics with bitcoin and cryptocurrency users in the country, some thing like this happened in Nigeria during the campaign that brought Nigeria current president into power which he promised cryptocurrency and bitcoin users that he will lift the banned on cryptocurrency and bitcoin users to have good access to do anything concerning bitcoin and cryptocurrency, but after he won the election and resume office,  he changed his mind to believed the negative things people where saying about bitcoin and cryptocurrency, which is what Trump will going to do if he succeed in this election.

This is still campaign period and every politician will make their promises and for such a country like America where Bitcoin and cryptocurrency have taken the headline and a lead way, I think using such a campaign tool to attract the interest of those crypto community is one good strategy that any politician will buy into, soni can say that Trump have taken the right step in using Bitcoin adoption as a campaign promises, although there is a far distance line between campaign and execution of a campaign promises, this is because, America have their own policy process and I think that Bitcoin will follow the same lay down laws and rule as established in the virtual assets laws of the United States.
But as a president, he may further push for a more wether acceptability of cryptocurrency in the mainstream level by making crypto friendly policy that allows for retail adoption and usage of Bitcoin.

AKA lies, more lies, and statistics.

Both presidential candidates are going to make as many promises as they can in order to secure the White House, and of course they are going to break a lot of them - that's what politicians do. And it's not only applicable in the US. Politicians in all countries regularaly lie in order to get an advantage. It's literally part of the job requirements if you want the job.

if trump does announce his big plans for bitcoin as us's reserve, it might solidify the voters' choice for presidency but the events that will follow especially if he were to make true of his promises would be a completely different story

this big of an announcement, is it still for getting as much votes as he can or his genuine plan for the us?

Trump is targeting young voters who make up the population of crypto users. Statistics show that 52% of crypto users are between the ages of 18-49. He is also getting some financial support from these tech and crypto firms. His strategy seems to be working because his rating seems to be increasing in many swing States that Biden won massively in the last elections.

Electorates should consider other policies of Donald Trump instead of focusing on Bitcoin alone. In his speech at the Republican National Convention in Milwaukee, Trump promised to carry out the biggest deportation operation in the history of the US. So this is bad news for asylum seekers who are fleeing violence and persecution.

Have you everly known the secret of the politicians or what the rings in their mind?
Okay let me brief how they does and the words that are so common in their leaps.. A politician would sit to analyzed the world trending or like a state/country trending and to what they are lacking and used it a political strategies to win the people's heart towards that area.

I could remembered 8-10 years ago in our country during a political campaign where they said of giving our country a 24/7 power supply, and whatever, people thought the candidate is the best but when finally being elected as President of the country we really saw the opposite instead it went to worst till date and off course we knows all their strategic movement and what they can do. Naturally Donald Trump sudden movement toward bitcoin is nothing that one can't sink in their heart because he is using bitcoin and cryptocurrency to gain the heart of youth especially he knows the world trending that that is "Digitalization" he doesn't mind using this to gain attention of 80 percent of world attention to vote for him.

I don't think this is possible or likely to happened so soon.

This is the game of politics and Donald Trump, being a business man, understands that the end justifies the means. He has worked out the maths and understands that the proportion of Americans that are pro Bitcoin are on the increase, he needs their votes to become president. So it's probably nothing personal for him to support Bitcoin at this time and get what he wants, their VOTES, what happens if their votes gets him into the white house again is what we'll wait to see. People change and perhaps Trump, has seen that Bitcoin has come to stay, maybe he'll support it with favorable regulations if he wins the presidency.

It's a good idea but how do we do it? As we said bitcoin should be completely segregated from centralized exchanges because it makes bitcoin more centralized, but do we have any solution for that? Or like when ETFs enter the market and many people don't like this, they constantly protest but do they have any solutions to stop or change that? We have virtually no solutions to these problems and we should instead learn to adapt.

Most people have only one concern: they want the market to go up, bitcoin to go up, and they understand that celebrities and politicians can do that. Do you think they will stop before reaching their goal? The crypto industry is severely divided politically and electorally in the US, but we will have no way to stop it because self-interest comes first.

To me, rumour is not something that can be trusted. The article mentions no source or justification for the idea that Trump might announce that. I'm not saying that he won't, but I don't see why he would either. What I'd be also interested to know is what it can mean in practice. I understand that it's about accumulating Bitcoin, but how much Bitcoin and under which conditions? Also, which other assets are currently a part of the US strategic reserves (when I google it, I can only see oil)? So even an announcement like that needs to be placed in a certain context to understand its meaning.

To be honest, I don't really like Bitcoin being ridden by political elements, but the world has changed and Bitcoin is increasingly recognized by the largest communities and investors. Especially in America, where Bitcoin is no longer something strange to hear about. Trump's first campaign still denied the existence of Bitcoin but his journey after leaving office discovered the great power in bitcoin which made Trump open his eyes and make the voice of the Bitcoin community an addition to the election. Despite the way Trump leverages the voice of the Bitcoin community for his campaign, I think he's managed to attract attention so far. But remember, politics is still politics and the ending is always bitter. It has become a rule in politics, even though Trump was elected president and supports bitcoin, in government decisions are taken democratically and involve the agreement of many pro and non-pro bitcoin parties.

It's too early to say anything because we still need to wait until December to know the final election results even though Trump currently has an advantage over Biden in the race for the White House.

Also, in case he gets elected, we shouldn't expect too much of him turning bitcoin into something like a secret weapon or spending a lot of time on it. As president, he will have more to do than just think about bitcoin. Not to mention, his proposals will also have to pass through parliament before becoming law, so we have the right to be bullish but should not be too delusional. I'm seeing a lot of hype around Trump and bitcoin but it tends to be a bit delusional and excessive.

Because he is a lifelong conman and despite being incredibly incompetent, the one thing he is good at in life is conning gullible people. Plenty of gullible people in the crypto world, so plenty of people for the convicted felon to con. That's why the sudden pivot. Also it's clear he doesn't know the first thing about Bitcoin from the way he talks about it. His advisors simply told him that if he supports crypto he'll gain votes since Biden is not crypto friendly, so don the con suddenly supports crypto with the election coming up. He's the ultimate sh*tcoin candidate: a huge scam and rug pull but the most gullible people fall for it.

Doesn't seem like a secret at all when he's talking about it everywhere and going to Bitcoin conferences.

So he instructs the US government to buy a ton of Bitcoin, the price goes up and... now Donald Trump effectively owns Bitcoin holders because he has the power to decimate the value of Bitcoin by selling it off any time he pleases.

I continue to be astonished by the fact that Bitcoin, a product that started life as an "anti-government" movement, now has a community begging for government assistance and collaboration in order to get the price up temporarily.

And imagine what US taxpayers are going to think of something that they paid so much money for that they don't even own. Yeah, that's not going to last long. US taxpayers will demand control of the Bitcoin network, and with the power to destroy the price of Bitcoin as their weapon, Bitcoin holders will do anything the US government wants them to do.

I highly doubt that he would make a reserve of bitcoin for the USA, that seems like a very marginal and radical move. I am not saying that he can't do anything good for it, of course he could be doing something that will be loved by bitcoiners, just not that radical, that seems too far off. I mean the 30% miner tax alone is a big deal, if he says he will get rid of it and make USA miners powerful again, then he would get a lot of votes and a lot of love anyway.

And he can even make it politically motivated move too, right now there are too many Chinese miners who are doing it, and not care about the pollution or energy consumption, if we start to tax our miners then we are going to be left behind and people of USA will buy the coins Chinese mined. That is literally all he has to say, if he says helping the miners means winning another war against the Chinese, then everyone at republican side will support him no questions asked.

However, making bitcoin reserve would not be easy, that is putting even more fire to what is happening to dollar. They need dollar to be stronger, and if USA themselves put bitcoin as reserve, then why would any other nation use dollars as their own reserve?