Bitcoin Forum

This was certainly the headline:
“Trump proposes strategic national crypto stockpile: ‘Never sell your bitcoin’”

https://www.cnbc.com/2024/07/27/trump-bitcoin-conference-harris.html


“The Biden-Harris administration’s repression of crypto and bitcoin is wrong and it’s very bad for our country,” Trump said. “Let me tell you if they win this election, every one of you will be gone. They will be vicious. They will be ruthless. They will do things that you wouldn’t believe.”

“You are building America’s future with your own smarts, your own grit and your own skin in the game,” he said. “My job will be to set you free.””

What did he mean by this? Is he referring to Bitcoin holdings of the United States acquired by seizure, or have they made any Bitcoin acquisitions for the purpose of reserve? If there have been any, I will love to read about it.


That's a bold statement he made right there. No doubt the SEC chairman has really been against bitcoin, fighting against everything that the currency stands for.
 
He sees it as a big threat, but saying he will fire him on his first day in office is a bold statement, but yet I see it as an unwise one. It's wiser to say that he will be relieved from his duties as he can still remain in the agencies serving without, although earlier before now I read somewhere they said Gary Gensler will either resign or retire from office in ffice on the year 2025. 

I will take Trump seriously on his proposed strategic national crypto stockpile if he first fires bitcoin number one archenemy - Mr Gary Gensler. I will take Trump seriously on his proposed strategic national crypto stockpile if he frees Ross Ulbricht.

I had free time some two hours ago to watch the conference which was heavily delayed due to Trump's lateness. But that's btw. Trump made a lot of big promises on that stage and I will be pleasantly surprised if he even gets to fulfill even half of those promises. He is right about one thing though — If Bitcoin is the biggest thing that's going to be around for the future, United States needs to get in and get in big.

There is one fact he mentioned that I've seen been discussed on the forum on multiple occasions and that's the fact that Bitcoin itself isn't a threat to the dollar.

It doesn't matter what a pathological liar says. He can tell any lie he wants to get the vote of the audience he is speaking to. I don't recommend taking anything he says seriously.
I agree with only one thing he says: "Never sell your Bitcoin."

I read in the local media that there were about 8 promises that he made. If all is fulfilled, I feel optimistic that Crypto in the future will have more and more room for development. But indeed, I always remember the political year in my country. There will be many promises made to gain the sympathy of many people. But once they got what they wanted, they forgot about the promise he made. Or they give excuses because promises are not fulfilled. I hope that doesn't happen in the US.

 

I think we have to stick with the big picture here, regardless of whether we like Trump or not. This is the first US presidential election in which bitcoin plays an important role. We have a candidate who is certain not to win, Kennedy, who is totally pro-bitcoin, and another candidate, who is ahead in the polls, has given a speech at the bitcoin conference that many of us would have dreamed of when I registered on the forum 7 years ago.

Not possible for the TDS’ers out there. They literally cannot see past their irrational hatred of him. What a mental state to be in!

Does anyone believe that Trump alone as acting president (if elected) can make important decisions? The president is just a figurehead, certainly not someone who decides in which direction things will take place. The fact that he is persistently talking now (after 15+ years of Bitcoin's existence) is only for the reason that huge money is involved.
At the same time, the US has obviously already adopted some long-term strategy regarding Bitcoin and crypto, regardless of whether the president is Biden or Trump or someone else.

In a previous statement, Trump mentioned that he would release Ross Ulbricht if elected, but yesterday at the bitcoin conference, he only affirmed his commitment to a reduced sentence, not an immediate release. Regarding the firing of Gary Gensler, he also mentioned this issue at the bitcoin conference today. If he is really as serious about bitcoin as he claims, he will do these things as soon as he takes office. But about turning bitcoin into a reserve asset, I'm really skeptical because I don't think he can decide and approve it easily. Congress and the Fed are the ones who decide this, a president can make proposals but cannot easily pass them himself.

https://www.talkimg.com/images/2024/07/28/4Og22.png
https://x.com/WatcherGuru/status/1817304414807343407

While there were a lot of rumors leading up to the event that Trump would declare making a Bitcoin strategic reserve, that did not happen at the conference, according to the article you've shared. CNBC writes that "he stopped short of proposing a formal federal reserve of digital currency". His ideas were more vague, like the US becoming a crypto capital, and forming a crypto advisory council, but that is not the same thing. The stockpile thing is in the title of the article by CNBC, but it I'm just writing to clarify that it's not a strategic reserve, as the call can be misleading and make people believe that the rumor about the reserve was true.

I haven't seen the original video, maybe a lot of media is wrong in digesting Trump's sentence. But I think campaign sentences always have ambiguous meanings. This means that the sentence can later change in time. I did read 8 important points, but it seems that they all point to policies that support the development of Crypto in the United States.

This condition certainly makes me happy because the world's crypto episentrum is currently in America. The policies that emerge always have a major effect on crypto movement patterns. So if it is concluded that if Trump is able to become president again, it will be very good. But I also hope that Trump's opponents can also provide good policies later if Trump loses.

Just so I've got this clear, the man who has....

*checks notes*

bankrupted everything he's ever touched, wants to....

*check notes*

make financial decisions.... 


And you idiots think that's a great idea?  I weep for the fucking world. 

I also follow such events and want to say that there is a lot of falsehood in politics. When someone wants office, they make promises left and right to get the most support from the voters. And when the goal is achieved, as time shows, such politicians do not fulfill half of their promises. In order to justify that they have not fulfilled this or that promise, they nod and blame other authorities, which seem to stand in the way and prevent them from making this or that decision. Politicians who have been in politics should report to the public about what they have already done, particularly regarding Bitcoin, which has been around for years and has already survived several presidents. Tell the public what exactly this or that politician tried to do for Bitcoin and what prevented him from doing it. Trump has already been president and I think he should report what exactly he tried to do for cryptocurrencies and bitcoins and why he didn't do it, where he failed, where he got in the way, where he didn't take into account the potential of cryptocurrencies and how does he want to fix it when he becomes president? After all, Bitcoin didn't come into being yesterday and Trump isn't running for office for the first time, he's not new to politics. Of course, you want to believe in the positive and that everything will be fine, time will tell.

I like Trump in some of his interviews and stance with peace and how he should deal with it. But I guess this is a typical politician that we all have. That's very too good to be true if it happens but if he'll prove us wrong about that plan he's got, kudos to him.

There's more to wait and his candidacy isn't just going to center about Bitcoin.

Look at all the industries that he's campaigning, he'd certainly say good things about it so that they'd be with him.

Donald Trump might be a liar and a convict, but he is giving Bitcoin massive publicity. Having a leading US presidential candidate speak well about Bitcoin is a good thing. However, I will not vote for a candidate because he made some promises about Bitcoin. Other areas, such as immigration, war in Gaza and Ukraine, police reforms,  economy, etc, should also be considered before voting for the candidate. Who is even sure that Donald will implement all the things he has promised the Bitcoin community?

Just listen to him but never expect. Trump is still one of those politicians who are good in breaking their promises. So it’s better if we won’t be taking his words seriously, most particularly for the bitcoin community. We’ll wait and see then if he’s going to win this upcoming election, if he’s still be taking the same words about bitcoin. For now, it’s safer to never expect at all. After all, bitcoin will still be bullish in time even without Trump around.

Trump's idea of a national crypto stockpile and telling everyone not to sell their Bitcoin is pretty bold. It's interesting to see him so openly support crypto, especially compared to the current administration's more cautious stance.

We know Trump doesn't know ANYTHING about Bitcoin, nor does he care about Bitcoin. But who's giving him advise in these matters? Because the decision to HODL an asset as a Strategic Reserve, that has the nature and characteristics of Bitcoin definitely ISN'T WRONG. Because if they won't do it first, then Russia or China might do it first.

It is no doubt that the current US administration is very hostile about cryptocurrency. They are harrassing individuals as well as the business corporations at their will. They are imposing fines in tune of billion dollars to break the financial backbone of the crypto industry. That needs to change!

However the last thing I would do is to believe a politician. Is expected to win the election. But until you see some actions, there's no reason to believe him.

I will build a wall, drain the swamp, put damn taxes on those crypto traders, and slap a new import tax on all mining gear!

Do you know what were the two things the guy has actually done of what he has promised?  ;D
I understand for foreigners listening to this idiot promising stuff to actually believe him because of pure interest, but Americans rally believing him and forget he doesn't even have the power to do most of the things must be really out of their minds.

If Kamala would be smart enough in that head-to-head she would ask him a few basic things about Bitcoin, I wanna see the faces of all crypto supporters when they realize the guy probably doesn't even know what a wallet is.


Bullshit!

 

Trump has been playing the bitcoin card for quite a few weeks now but he's such a person whom we cannot trust easily.
Whether he fulfills his promises is a questionable thing but due to his announcements we can surely see a surge in bitcoin price.
At least Trump's existence is benefitting in pumping bitcoin's price up  :P

You know it’s easy to believe a politician if he has been supportive to bitcoin since the first day, but looking how Trump has shifted his idea about bitcoin, this is very obvious, it’s all for the upcoming US election only. And after that, Trump will show his true color.

This is why I cannot trust Trump words for now. Of course, he will do everything for the sake of bitcoin and its community, but the question is until when?

Shower thought. What if Trump actually hired a group of advisers to help him formulate a plan on how to regulate Bitcoin in a fair and non-obstructive manner? I watched his speech and he said all of the right things, such as self-custody, cheap electricity, a Strategic Reserve. I don't believe Trump could think of that by himself. Who is advising Trump about Bitcoin?

¯\_(ツ)_/¯

I have not seen that many politicians that went up and said "I am going to go into another nation and kill a bunch of people", the situation with Trump is that he actually does mean it, but not for great reasons. Like for example the whole Ukraine situation, he is going to cut any ties with Ukraine, which I can totally understand from financial point of view, why would Americans spend their hard earned tax dollars for Ukraine, right?

But the point he is trying to make is not to stop helping Ukraine, the point is to make sure Russia wins, because he is friends with Putin. So he would be doing the right thing, for wrong reasons, but to be fair if Kamala wins, which looks more and more likely, then it would mean more help for Ukraine, and more tax dollars going to another nation, which does hurt Russia which is good for USA, and it's human thing to do, help a country that is getting bombarded by a bigger nation, but also it is not fair to tax payers as well. When you think about it, there isn't really a right choice candidate, both of them are doing something wrong, and that's why USA is in danger, no matter who they pick, the elected president will do something wrong, it's that simple.

You have a possible answer for yourself. May be Trump did hire an advisor not to get into bitcoin but to create a speech about bitcoin for his political tactics.
I really wish he fulfills all what he says but you know how hard it can be to believe him.

The current US administration makes it very obvious for the bitcoin community that bitcoin is nothing but an unreliable and valueless currency in the long run, so it has no place in any financial institutions.

However, with Trump, there's always a promise for a new beginning and promotion, but we all know this could be another kind of a trap. No one should trust words coming from a politician, not until he's serious enough and meant every word that he says or speaks.

Hired an adivsor merely to write a speech about Bitcoin? Hahaha you misunderstood me, ser. I'm talking about REAL  advisors - chosen from the respected people in Bitcoin to help Trump formulate policies for Bitcoin and Bitcoin merchants/services.

I believe David Bailey who's the current owner of Bitcoin Magazine is one of those advisors. 8)

Does anyone know who are the other advisors?

It's a complete contract, with the Biden administration as compare to Trump, who seems to be pro crypto now and put it on the spotlight again in this years Presidential election. So I guess the answer is why not? I mean if Trump can bring crypto closer to the biggest economy then they should be happy.

We have seen reports though that Russia is trying to circumvent the sanctions that has been put by the US on them because of the war. So it's two fold, in can help bolsters country if they uses it as a national reserved. Or what Russia is doing, embracing crypto with the intent on going around the sanctions on them.

Which one is the lesser evil?

Biggest isn't always best.  National agendas get murky real quickly.  If large economies attempt to exert influence over Bitcoin, we're all suddenly along for the ride.  Whether the outcome of that is "good" or "bad" remains to be seen.  I'd personally rather Bitcoin remain as neutral as possible and remain somewhat separate to the realm of fiat.  In my mind, it's a healthy distance at present.  All this "mainstream adoption" people seem to be clamouring for could well have consequences depending on the form it takes.

But how does any government entity cause Bitcoin to not be neutral? It still will be an open, permissionless system that's decentralized, no? Plus if yor fears become true, and Bitcoin does become compromised and becomes "not neutral", then Bitcoin is not robust enough and therefore has no reason to exist.

Plus to be truly separate from the "realm of fiat", Bitcoin should have developed a parallel economy where everything is denominated in Bitcoin. The Dark Markets would have been that parallel economy if they were not scamming after a few months of operation.