Bitcoin Forum

President Trump's attitude, which tends to be anti-Bitcoin, has raised the discourse that he could forbid the ownership of Bitcoin for citizens of the United States (US) in the future.

This discourse is based on two possibilities, namely Trump's tweet in 2019, that Trump is not a Bitcoin lover and second is a recognition of Trump's similar attitude, as stated in the book by John Bolton, a former White House security adviser.

Responding to the discourse of a possible ban on Bitcoin ownership, many people say the most likely action is an aggressive step by the government in dealing with laundering crimes related to Bitcoin and other crypto assets. Direct banning seems impossible, because Bitcoin is practically outside the structure of the country.

Every day that more big hitter money goes into it makes it less likely. And Trump has rather bigger things on his plate than that, getting beyond November is one of them.

There's lots of things a few politicians don't like. That's a large leap to a whole administration doing anything about it.

I watched all of the congressional talk things about Facebookcoin. It was clear that many of them were aware that driving proper cryptocurrencies out of America could cost them big time in the long run.

He could prohibit,  but he cant prevent people from making transactions.

Additionally,  I doubt governments can win a battle against technology advances. It is better to work with new techs, which will.increase governments revenue and create new jobs.

Trump already has years as president and if he really wanted to ban bitcoin he would have banned it a long time ago. Politicians (at least most) seem to ignore this issue of banning bitcoin because they don't know bitcoin very well and because there are still no cases of being very alarming when it comes to using bitcoin for money laundering, at least when compared to Fiat . With the technological revolution that exists in the world, politicians are also able to perceive things that are beneficial and instead of banning bitcoin they can simply create laws that can be more beneficial for everyone

Don´t listen what he says, watch what he does. He can´t prohibit Bitcoin and it would not make any sense to even try. He is saber-rattling but that´s say anything. Too many big players from the USA have already entered the market to ignore or fight it. Goldman is another case of talking this and doing that, it just seem to be common courtesy

If he had to ban bitcoin, he would have done it already. Now with few months left to his term, it seems highly unlikely to happen. US is a progressive country so from that perspective as well, I don't see a chance for any president to ban cryptocurrency in totality.

Yes, there may be new laws framed to curb illegal usage of cryptocurrency but blanket bank is not possible. Technically it's not possible as well as bitcoin is nowhere controlled by any single authority.

Weren't some of his advisors Bitcoin supporters?
It's funny how people's attitude can change over the years. I remember when Trump was being elected and people were enthusiastic because "he's a businessman, he'll understand economy and be open to new technologies and he surrounds himself with investors and traders".
Imagine the headlines if he did it: "The land of the free trying to block the flow of money from physical to digital. Is Trump afraid of Bitcoin weakening the Dollar?"

Trump is dumb enough to do it but who cares. We, or Americans, don't need him or his approval. The time he seriously starts to think about it he won't be POTUS anymore. How many he has left? 2 years? He has more important priorities to think about for the next elections. MAGA didn't happen, Americans will say No to Trump a second time.

Even if the day happens, do you think they will monitor every US computer to check if there is a Bitcoin wallet installed in? Or come et home to see if there is a Ledger? At worst they could monitor bank transactions, watching for bank transfer coming from exchange platforms. But it won't be efficient as it's supposed to be. Americans will still so many other ways to use cryptocurrencies

I honestly doubt it. If there's anything that Trump would do at this moment is to be friendly on cryptocurrencies as it might help secure him yet another term in November, though the possibility of that happening is very slim. With America getting grabbed by the puss* every day, the POTUS would need to think yet another scheme to make the Americans befall to his tactics once more, and with that I doubt that there's any room for Trump to even think about bitcoin at this point in time. It is possible but improbable at this current time.

It's not up to Donald Trump.  He may be the President of the United States of America but he does not rule with complete authority.  Governors of each state have technically more authority of their own states then has, for examples.  The Secretary of The Treasury is more so whom we need to be worried about at the moment.

Please note: https://www.bloomberg.com/news/articles/2020-02-12/cryptoasset-rules-set-for-release-by-trump-administration

These are still fresh news that might connect.  :)

https://fortune.com/2020/06/22/john-bolton-book-trump-bitcoin-room-where-it-happened/
https://www.forbes.com/sites/coryjohnson/2020/06/21/trump-supports-chinese-bitcoin/#16017d505fec

When talking about prohibition then its possible but the question is, would it give out big impact? yes it can but wont really
be that severe we know that each country do have its own jurisdiction and wont be completely be influenced just because of
other leaders do able to do so.

Looking at the latest article (https://www.forbes.com/sites/coryjohnson/2020/06/21/trump-supports-chinese-bitcoin/#57c1ab735fec) made by Forbes you will see that they have created an angle towards a conspiracy that China is indeed controlling Bitcoin which we all know is not true (https://decrypt.co/31915/crypto-bitcoin-china-mining-industry) anymore ever since China didn't show any kind of support for the crypto mining industry in there country. So with this news it feels like they are just creating a reason to have a legal framework to either boost the crypto presence in the United States or outright ban it because of it's relation with China.

Trump, it has been several times this person always says so. He is against really Bitcoin. However, his statement is only his statement. It may affect the Bitcoin price, but nowadays, many people are smart and will not be affected by only his saying. And as we know, the decision of Bitcoin prohibition is not only based on the Trump decision, right? It should be regulated in the country, shouldn't it? I think that the US will really consider and think twice about it, considering the positive and negative impacts of the prohibition. Additionally, currently, the country is facing something big about racism incident and the societies are likely not putting the truth again to the government. Will they add the problem to it right now?

For me personally, I love Bitcoin and I see more advantages of BTC than its disadvantages. But, for the people with big particular behalf, it will be a big matter that should be eliminated in order to make them always powerful and not competed.

Base on this statistics (posted on 2019): LINK (https://leftronic.com/cryptocurrency-statistics/)

U.S is 6th in the world where they are owning cryptocurrency. That 8% might be a small number but prohibiting this 8% from using Bitcoin will still have an effect in Bitcoin. I don't think that Trump will do it but if he will do it then I just hope that it will have the same effect as when China did in 2017 where it spiked more and more :D.

He can prohibit only within his jurisdiction. The universe is bigger than him. Moreso, Bitcoin is unstoppable. he can not stop anyone from making the transaction as their some tools that can be used to shield the source of transactions. The government are just trying to stop the unstoppable, the earlier they realized. the better

If he is anti-Bitcoin, then Trump have already issue the hammer ban already. But he didn't and just completely trolling everyone with his tweet, I would say just ignore it.


Again, Bitcoin ownership doesn't pose a threat, they should look and trace fiat money because that's the majority of money laundering, terrorism fund are coming from. And going by your argument, if they ban Bitcoin will mean less money laundering? No, so I don't think that it is Trump's priority right now. He should be looking at the current unemployment rate and how US economy will recover because of the pandemic effect.

Maybe after the elections and won the second tenure he would probably re-visit the topic, Trump has always made his opinion about btc very clear to the public so I won't be surprised when that time comes he decided to take such decision as to forbid US citizens from engaging in anything relating to btc or crypto,

Well this is news for the near future, nobody can tell what he will actually do, although they say actions speaks louder than voice and his actions towards btc has always been harsh even though it doesn't make any sense why, I feel for the US citizens though, there is nothing they can do than to accept whatever will be the outcome.

At this time, he needs to think about the situation of the US citizen since they hold the largest number of infected people all around the world by this pandemic. The thing is, he have some more problems to come because the US election needs to have his attention since he wants to run again for President of the United States of America. He needs to have some good image no matter what happens and thinking to prohibit Bitcoin now is not a good idea for someone who wants to re-elected as President.

If such a ban really does occur (and the possibility always exists) then the implications are much bigger and more serious than it means banning transactions that are actually impossible to control, but banning the largest crypto exchange Coinbase and all major crypto companies located in the USA. Far from such a decision would completely destroy Bitcoin, but it is an indisputable fact that a good part of the world behaves very submissively towards the decisions made by American politics.

Any ban on Bitcoin in the US would have global implications around the world, especially in those countries that blindly comply with orders coming from Washington. While some think the Trump era is over in the next presidential election, I don’t see a single opponent who has a realistic chance of replacing him. But Trump should not be seen only in a negative light when it comes to Bitcoin - he can very easily change his mind if people around him are pro-Bitcoin enough.

That's not true.The US government can ban crypto trading and mining.It doesn't matter if Bitcoin is "outside the country".HODLing,trading and mining can become illegal.However,I think that the US supreme court can appeal such ban.
Anyway,Bitcoin isn't Trump's biggest problem and I don't think that he really cares about cryptocurrencies at all.The next presidential election is coming,so he will try to get more support,instead of creating more enemies.

trump needs bitcoin. after all how much fiat and gold etc can fit in that underground bunker he is so fond of inspecting.

use a paper wallet, presto, lots of room in there for his big macs and such.

The fight between the China and America won't make Trump do such stupid thing because the re-election of the United States President depends on this technology. Bitcoin won't be prohibit by Trump and for himself come back to the Whitehouse then he have to stand with bitcoin direct or indirectly. Still, those whales aren't me and you but those in higher places in governments, how will they prohibit what they have power to manipulate?. They need bitcoin as they need their fiat currencies.

There are many things that is bordering trump for now. Even though I'm not disputing the fact that he doesn't like bitcoin but banning and ceasing bitcoin is out of it and I do not think he can do that for now. I understand American have huge influence in banning crypto especially those that have exchange on centralized web based platform hosted on .com but when things are getting intense I will advice american users of bitcoin to transfer their asset to decentralized wallet

That's what I thought. Considering that Trump was a business man before his presidency, then it's likely that he will use Bitcoin in order to prosper their technological advancement which might help America financially. To be honest, I've never seen his public post a serious one.

I think what he hates is the fact that there's a lot of fraud and scams happening in the cryptocurrency space and that is the reason why he is someone who dislike Bitcoin. He might just tighten regulations but I doubt that he will completely ban Bitcoin or cryptocurrency.

I believe that Donald Trump has a lot more problems today than bitcoin. Moreover, if we talk about money laundering, as well as the financing of terrorism, then all over the world it is the dollar that is the money that finances all the crime of the world. therefore, before Donald Trump takes up the ban on bitcoin, Let him put things in order with American dollars.
I want to give an example of one quote that says almost everything: “the likelihood that Trump will try to ban Bitcoin is not zero, but it is much less than the ecosystem’s benefit from an increased interest in cryptocurrency.”

It could happen, even for every president in all countries, but the president does not rule for a long time. There will be a time to replace the president with the new one, and that means, the crypto will have more chance to be accepted by that president, especially if the president really cares and have a concern with the growth of the technology.

So that is what will happen with Trump. If he doesn't like bitcoin, he will prohibit bitcoin, but he can not do that forever. I am sure in the future, there is a president who will allow people to use bitcoin and altcoin, and he will allow people to transact with using crypto.

I don't think Trump can prohibit bitcoin since it was already a decentralized digital currency. He can't control it unless he shut down the internet connection nation wide.

I doubt that this will ever happen, Bitcoin is a very volatile cryptocurrency and the US government is not known to create money in risky trades like this, they always invest in stable assets like Gold with their Federal Reserve. Like what I have said in my earlier post this could still go either way with no clear news of where crypto will be heading in the US but this is just about a matter of legality rather than Bitcoin being use as an investment in the US.

Not by banning Coinbase, but simply prohibiting bitcoin to be owned by Americans will prevent every US exchange, casino and crypto service from operating legally, and many of them already have services restricted due to stringent regulations. The reverberations of that will also be felt by international users because they won't be able to use the services either because the entire company will have to shut down. It may even affect mining giants if their offices and/or mining farms are located in the US as they will neither be able to take block rewards nor pay their employees with bitcoin.

The United States is not India or China that they can order anything and it will be implemented right away, there will be a lot of deliberation that will be going on, and besides Trump position is still in the hang because of the coming election, so we can talk that if he wins the election, I don't  like Trump to win again because of how he handle so many things like this pandemic.

Yes he could, but he has to reveal a reason why he bans bitcoin. But I don't think he will ban bitcoin, as you may know, he has revealed many times that he doesn't like bitcoin but so far he hasn't banned it whilst he can ban it anytime. Also, you have to remember that bitcoin's user has been wonted to face this issue.

There are several countries that have done it, banning bitcoin in their country and threatening if they still use bitcoin then they are considered to have committed a crime. But who knows? until now they still use bitcoin, they still make bitcoin as a payment system although their countries still ban it. And the last, bitcoin still has a value although many countries try to ban it which means there is no way to prevent people for using it and there is no way for those people who don't like bitcoin to destroy it even though he has great power.

Since it doesn't affect the whole economy of America then trump has no reason to ban it and it can also be the reason of America's financial system improvement because we all know that crypto currency already helped a lot of country and make it a rich country especially on the countries of Europe. Europe already legalize crypto currency in their country that makes them have a better financial system and it is the reason why their countries gets richer than ever.

If bitcoin becomes illegal in USA i think it only will get a higher price. Is it like marijuana, when does it have a higher price? When it was illegal or now when it's legal?

And it's fun to see he is trying to make it illegal because part of the money to his campaign came from bitcoin donations.

I guess he already did it, but he cannot forbid everyone in using bitcoin, it is accessible anywhere as long as there is an internet and people will always find a way. Also, there are big companies using bitcoin in US like coinbase its base are located in San Francisco and many more companies. Banning bitcoin completely is impossible, the government should have done that long time ago if they can but they cannot do anything about it.

He won't just ban the usage of Bitcoins in the upcoming years , he wants to take the investors of Bitcoins and divert them into a digital dollar .

It is not just trump , most leaders in many countries like China and India too , have stamped Bitcoins as an opportunity, an opportunity where they can easily diverge the investors once they cut off the market of one option.

It's not that simple , They view cryptocurrencies as a Threat.I do think there is likely some intricate plan going on where the officials have decided to ban Bitcoins not just in one country but in many more.

Plus added security in the wallets , demanding KYC is just providing the government with the names of people involved in it , so that they can somehow control the lot.



This is taken directly from the investopedia. Now the reason they aren't banning it might be two :
1. They are a good source of Income for the government too .
2. They might themselves be made by the government ~
[ I do think the first one implies ]

They won't ban something till it's profitable for them.



Now this is a whole lot of money .

.

The banning of bitcoin by Trump in the united states is possible but it cant extend beyond that geographic region. But, the banning of bitcoin in US may happened because of its decentralized system, if it is to be regulated who really owns bitcoin and who will comply?

where is the Satoshi Nakamoto, who is reputed to be the inventor of bitcoin? I believe this one of the questions that the government had not found an answer to yet.

I heard this rumor that Mr. US President Trump didn't have a fan of cryptocurrency or in Bitcoin itself, this was last year and until now Press.
He has a tweet of his twitter account, " I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.... (https://twitter.com/realDonaldTrump/status/1149472282584072192)"

So I concluded that Mr. Trump didn't do anything about banning Bitcoin and probably that is only his statement that didn't exist because until now nothing happens. Because since the start we know that Bitcoin has decentralized and digital nature, so how it can possibly be banned. Yes, it can be banned but only by his words not on actual banning.

If he really can do this there is no way that it will not be implemented by now but why?because he cannot and that is what reality here.

Being a president there is no reason for this not to happen yet nothing comes out.

and besides he has only few years before stepping down and he will not do this for the sake of their people.

It is impossible to ban bitcoin in the US, already there are many big companies are already established there and it will be a big mistake of the Trump administration if they does so as in the coming future there will be a lot of taxes that will be paid by the people when bitcoins gets popular and there will be new jobs too due to this industry, but if he bans Crypto directly then all those gains won't happen and everyone knows that currently the unemployment rate is immensely high in the US. Also even if Trump bans Crypto then also people will still find a way to use get over that ban and use bitcoins, so no worries.

What can we expect from a nationalist, narcissistic, megalomania like Trump? Moreover, he knows that algorithm-based cryptocurrency is a system championed by globalists who now support the democrats to thwart Trump's plan to progress to the second round.

Globalists see that world damage and economic inequality are caused by crossing interests between countries, with the existence of one system and one currency (algorithm-based cryptocurrency) so that the world and earth will gradually recover.

Trump will reject bitcoin because of Trump's basic principle as a nationalist who considers bitcoin a virus that will cause damage to national sovereignty & also the stability of the US economy.

Trump is such a crazy guy; he can do anything whatever he wants. He can prohibit Bitcoin, but I don't think he will do this kind of things. You know there are a lot of investor in Bitcoin market from America. Even if trump will prohibit Bitcoin, I don't think there will be a huge loss of Bitcoin. maybe the price of BTC can go down a bit. but in a few days the situation will return to normal.  on the other hand, if Trump ban Bitcoin, people will find out alternative way to use BTC and invest on it.

Of course a man like Trump will not be able to influence Bitcoin, I also heard that he ordered the Treasury Secretary to pursue and race Bitcoin as John Bolton mentioned in his book, Trump has sparked a lot of riots in the world and has taken many wrong continents not only about Bitcoin but about many other issues. Bitcoin has overcome many difficulties, but it has overcome all of this and has proven to be the most powerful of all. I think Trump's comments will have no effect on Bitcoin.

I don't think Bitcoin is the main concern of Trump as of now.  There is far bigger problem that he has to face and more urgent concern he needs to attend.  Like the Pandemic, the upcoming election and the Civil unrest caused by the current situation of America.  Besides, if he is planning to prohibit Bitcoin, he could have done it in his early years.  Imagine how easy he removed the US support on the WHO because he was not satisfied with their performance.  Prohibiting Bitcoin in the USA would be as easy as that if Trump wanted to.

Theoretically, locally, it is quite possible if Trump bans Bitcoin within the United States, but will he benefit from this?

Indeed, in this case, China can fully approve bitcoin, which is likely to raise the demand for it to a new level. What will Tram do then?

After all, Russia can also follow China, and then the rules of the new Cold War will not be imposed by the United States.

President Trump does have a negative attitude towards bitcoin, but that doesn't mean bitcoin ownership is banned. And there are
still many matters for President Trump is far more important with regard to the American state, such as overcoming the spread of
the corona virus, the widespread demonstration of racism, and economic competition with China. I am sure that for President Trump
it is not an important matter to take care of bitcoin right now.

Politics and the leaders are of really a big influence on the market. Think that of Trump will prohibit Bitcoin, it surely he makes a push on it but I was hoping he can't think of it but rather to give support otherwise, we do nothing.

If these developing countries will ban Bitcoin it surely has a huge impact on the price trend just like what it happens the banning sentiment of China in previous years.
https://i.imgur.com/nAqKNH8.jpg
This chart is was taken last year, 1 year past and therefore, we can expect an increase in these numbers. Although the users from the US aren't that big but then, it could also affect the market.

Yes, I don't think banning bitcoin or crypto will be in his priority list. As other advanced countries are legalizing the use of crypto, why would US want the other way? I believe instead of banning, he will make it legal so they can regulate better these blockchain projects.

Donald Trump can't prohibit bitcoin but maybe he can put in some laws that will make using bitcoin come along with some taxes and charges. these taxes may be very high discouraging people from using it but i don't think he can ever ban bitcoin

Trump's source for promoting hydroxychloroquine as a corona virus treatment appears to have been Elon Musk. We can hope Trump retains Elon Musk in an advisory role when drafting future financial and economic policy involving bitcoin. Elon Musk, Virgin Galactic and other space start ups have commented positively on bitcoin and crypto currencies. We can hope their knowledge will eventually trickle down to older generations like Trump where it may be needed the most.

Trump has indicated he will work within the system by making some of the same appointments to positions like treasury secretary a democrat like Hillary would likely have followed. Whatever policy Trump decides to pursue may be determined by factors outside his control.

The more the US government push Bitcoin away the more people gets into it.
There's no sense prohibiting Bitcoin usage because it has no central control it's purely decentralize, people can always find workarounds to use it and become undetected. They'll soon realize that its futile to put restrictions in Bitcoin.

Trump's attitude is kind of weird especially on how he treats different situations, he's doesn't care what one would feel and how it would impact a community as long as it's against to his standards. If he will be convinced enough that bitcoin is not helpful to the country, I think there's a possibility for him to ban it through statements only because bitcoin will still be accessible. What he can just do is to discourage his people from using it. But those who really into bitcoin already will always have their way to transact.

But for now, it seems that bitcoin's foundation in US is strong as I can see, there's still so many people advertising bitcoin in Youtube, and social media without restriction.

The president has the right to issue an embargo. Bitcoin is in fact not accepted by governments of some countries. Because of the higher risk, criminals take advantage of investing in cryptocurrencies to do illegal acts such as gambling, money laundering, smuggling ... But if bitcoin is embargoed in the United States then the price of bitcoin will plummet. Because this is a country with strong economic development.

That doesn't make much sense to me, for the reasons I've already written in my previous post. Because if we consider that this is a country that is very aggressive in imposing its rules on the rest of the world, then imagine what implications a ban on Bitcoin would have on the rest of the world? Take the example of sanctions imposed by the USA on Iran or Russia, and how most countries in the world had to do the same or bear the consequences of not doing the same.

We all know that Bitcoin trading is officially banned in China, and if that happened in the USA I don't see how it would increase the price because trading would definitely decrease due to the removal from the equation of 300+ million potential traders. Bitcoin as something illegal can only go underground, and then we don't even need to think about any adaptation of large institutional investors.

I think if he really wanted to ban cryptocurrency from USA he could have done it already but now it does not seem to be happening. He believes that cryptocurrency is highly volatile and unregulated crypto assets can clear the way for unlawful behavior which includes drug trade and other illegal activities. But I personally don't think crypto will be banned from US.

Let's have positive thinking that bitcoin is not going to get ban by the USA government or another government, but bitcoin will be more popular than today. The government itself will realize what the benefit of bitcoin for their people is, and although it is hard for the government to control the bitcoin, at least, their people can try to make money from crypto. If their people can do that, that can reduce unemployment in their country or another country, helping people have another source of income.

Yes, that pretty accurate. He can stop the movement of bitcoin as there are a lot of transactions that are happening in the market. We all know that Trump hates everything, he don't want to mind his own business. There are a lot of issues that he should focus on, just like this pandemic and probably if he prohibit bitcoin, that's the time that their economy will become much worse. Governments should rely on the advancement of technology because that will help their country and economy to improve. Trump should think twice before doing that, he should make a way on the promotion of bitcoin instead of prohibiting it because that is a huge advantage for them if he make people do transactions freely.

In times of National Crisis anything is possible. He could pump it and dump it constantly to make unstable to be used as a currency, but even over time that would fail when the US Dollar and all currencies get printed to absolutely nothing.

I don't think President Trump's will do anything like that. If he had wanted to do something like that, he could have done it long ago. A large part of the people of his country are involved with online. Now many people are involved with Bitcoin and many people have invested huge amount of money in Bitcoin. In such a situation banning Bitcoin will cause huge loss of money. On the other hand, they are aware of the benefits of bitcoin. So for now, it doesn't look like President Trump will ban bitcoin for his country.

Yes, Trump can ban the use of cryptocurrencies completely within the United States, but he can never prevent people from using cryptocurrencies and completing transactions, and I do not know why Trump and other heads of state are fighting cryptocurrencies and related technology I hope that the use of cryptocurrencies will be allowed in various parts of the world

As long as the authorities are able to control the market then they will not think about banning the entire market and even if they want the market has grown to more than $150 billion and there are many companies running their business and it is highly unlikely we will see a blanket ban, they are not banning the market because of the benefits of bitcoin but they know very well that they are not able to ban the market completely.

You have already answered your own question above.

Bitcoin cannot be banned like that and it is not the president of any country can do such.
anyway I believe that Trump talks too much most of the time,Hes Being outspoken sometimes leads Him to be No capacity in bringing the right solution in every matters.

There's a possibility as Trump is a person who is very unpredictable, but its nature is like the nature of bitcoin so I don't want to think that one day he will make a decision to ban bitcoin in his country. USA is the biggest country or one of the biggest and they have many allied countries, so USA banning bitcoin might lead to a domino effect that we don't want to witness.

In short, bad for cryptcurrency market.

I don't realize why he doesn't support the modern and digital currency system.We all know that in future Virtual Currency will exist with huge popularity.And If he really goes against Bitcoin he can't prevent us from using Bitcoin.As we can even trade in Decentralized exchanges.

I'm sure Donald Trump is a smart person, so he can be elected president of the United States. Even though Trump is anti-bitcoin I'm sure
he knows bitcoin provides benefits in a pandemic situation like now. Like making transactions without the need for physical contact, with
bitcoin can make money from home, and is very good as a safe haven. Therefore I doubt if President Trump will prohibit bitcoin.

This is way too hard for normal people to understand politics of political people. Especially when I tell you president Trump is the most intelligence president during last years thinking about economy. If he was really anti-bitcoin he would easily use his ban hammer against the bitcoin and shutdown all the legal exchanges offices in US. He could do it in less than a week. But, he didn't which means he is not actually anti-bitcoin but sure he is not agree with people using this currency without of any KYC/AML because of the taxes drug/gun dealers. Trump won't ban bitcoin but he will try to limit it somehow.

Trump can ban the bitcoin to their country because he is the president, but he cannot prohibit those people who are using it for some online transactions, just like on our country, our president doesn't allow the bitcoin on our country but there are still many people who are using it just like me and some of my friends and we are using it for som crypto activities like trading and investing. We are also using it for some online transactions like buying load, bill payments, etc.

This action will be bad for the country of USA because once they have banned the bitcoin they will lose the opportunity in the future, bitcoin is now very popular and known by many countries and most of the countries are doing good for the bitcoin, I have read before an article that one country is implementing a big place for the bitcoin mining machines, it shows that they are really believing on bitcoin because they know the advantage of using it.

China, with all its might and population, couldn't even stop Bitcoin when she banned it in 2017. When that ban happened a lot of people, miners and companies moved out of China so they could trade in Bitcoin. If Trump decides to tow that line (though I know that's the least of his worries right now), he will succeed muzzling only those residing in America, and nothing else. However, to say it blankly, it's obvious that the world has gone passed the level of anyone believing that they can destroy Bitcoin by limiting its use and activities.

Probably, many bitcoin fans will be enraged if Trump continue to prohibit bitcoin. That's a very crucial thing for him to do, as there are already big personality who engaged in investing to bitcoin. US economy is crashing right now, and it will make it worse once he prohibit the use of bitcoin in their country. It will surely give a huge impact to their economy.

We all know that most of the people are already engaging in the use of bitcoin and there are people who prefer to invest in bitcoin rather than in any businesses. Trump should think again before doing that, he doesn't even know what are the effects of not legalizing bitcoin in a democratic country like them.

Many cryptocurrency users are worried that Donald Trump may ban bitcoins, as has happened with El Petro cryptocurrency. But I believe that this is a completely different situation, since in the case of cryptocurrency from Venezuela, it was a serious political situation. And if Trump decides to ban Bitcoin, then in any case, his decision will appeal the congress, because the president does not have such authority. In addition, the election race has already begun and it is unlikely that Trump wants to lose his electorate due to incorrect decisions regarding cryptocurrency. Especially since today he has a competitor named Andrew Young, who claims a positive policy regarding cryptocurrencies and Donald Trump takes this situation into account in any case. Based on this, Donald Trump can declare anything, but in reality he will act only in a way that will be profitable and safe for himself. therefore, I very much doubt that the cryptocurrency will suffer from its actions.

Despite bitcoin is unstoppable, D. Trump want to be reelected back to Whitehouse and anything from him against the Bitcoin community will give him a point of no return. Even at that, he need bitcoin to store funds which the dollar note can't contain in the vault. Bitcoin is such that won't be stop, not even the United States of America. To ban citizens from using bitcoin or holding bitcoin will add to their economic downtrend: Trump has Many other pressing needs than thinking about prohibit Bitcoin.

It seems that the majority of popular US politicians are against Bitcoin. Trump is, of course, no exception. But he's been in office for years without making his move (only some angry tweets, but he makes them on many topics). So I really don't think he'd try to make it now, when there are important problems the US has to deal with. Moreover, given the strong democratic institutions of the US, I am pretty sure he cannot prohibit Bitcoin. He's the president, not the king. Not to mention that even the banks are warming up to Bitcoin now that it's the best performing asset of the year, so the US might need Bitcoin in the future.

Government attitudes fluctuate depending on the governments and the opinions of the people.
The Trump government may change this year or after 5 years.
As for what may judge Bitcoin by continuity or not, it is popular support.
Governments will not be able to stop bitcoin, but they can affect prices and demand, but it is impossible for the price to return to zero.
Don't worry, bitcoin suffers from more problems than government control.

Taxes won't be an issue if eventually Trump take such decisions of restricting US citizens from getting involve into cryptocurrency. There are many ways one can truly avoid these taxes without the government getting to know their secrets. Though, Trump at this time would face his fear of coming back to the Whitehouse. What I think he can do after the election is: probably to find more ways to have control over the digital currency or create a rivalry digital currency against the Chinese government  ;D

I know he hates Bitcoin, but that would be the least thing on his mind right now, because the way I’m seeing it, his hands are full and his focusing on the more important things right now. Though at times lol, he can  do things that you least expect. Even if he decides that he’s going to ban Bitcoin, we know for sure that it is not going to be easy, because there is no Central control to attack, there are lots of computers that controls Bitcoin, so it wouldn’t be possible. It’s just what you have said last that’s going to happen; they will look for aggressive ways to deal with crimes that has to do with laundering money with Bitcoin.

I read an article on some crypto news portal about possible US laws on few states to impose strict restrictions on making use of cryptos and it may extend up to the level of banning crypto as well; but due to corona outbreak it seemed they have delayed it. So, anything may happen from US government in coming months among we keep our expectation high on bitcoin-ETFs to be approved by SEC.

Actually, most of the government officials that want economic growth are against cryptocurrency. Definitely, most of them are businessmen like bankers who protect fiat.
But I guess they're aware of BTC's potential so maybe they're investing in it too. The only problem why they hate it because of volatility and it can be used on illegal things, unlike fiat that can be controlled.

https://www.theverge.com/2019/7/11/20691188/president-donald-trump-bitcoin-cryptocurrency-facebook-libra

I agree with everything except the last thing you said


Fiat can be controlled yet still it's used vastly in illegal activities

That guy simply doesn't care about anything (except his ego and money) that isn't related to his re-election. If banning bitcoin will help his campaign he will do it in a matter of seconds, otherwise he doesn't care.

Possible? yes. Feasible? No.

Its not just Trump, the same is true for any other country. Those in power can make laws and ban things.

Want precedent? After the crash of 29, possession of gold was outlawed, gov confiscated all they could. I imagine many Americans burying their family heirlooms in those days, i think it was until the 70ies or so.

But that's because gold is physical. Bitcoin is better prepared to face this. People can hide their paper with 12 words better than gold. People can also learn to do transactions securely with the likes of tor, etc.

The 15 or so foolish countries that banned Bitcoin, pretend the world is the same as that before the creation of Bitcoin. No, it is not, the genie is out of the bottle, and cannot be put back in.

Yes, it would piss a lot of Americans. When you ban bitcoin you ban a source of wealth and that's the only net effect. You may drive it underground but will never be able to get rid of it entirely, ever. Heck America lost the "war on drugs", which are physical, good luck with virtual stuff...

As much as Trump hates it, and probably would never get close to it like many old school millionaires of his generation; i doubt he will do anything about it. There is very little chance of that actually happening, It didn't happen in the beginning when all the ignorant media was portraying it as "criminal's money", much less now with so many companies involved and even States regulating it.

Banning an asset might make its price more valuable. I'm certain that the US government understands that they can't stop Bitcoin as it is not a central server they can take down, and I'm also sure that they understand that banning it will cause a negative reaction. Bitcoin has done nothing to hurt the collapsing dollar. It is there just in case everyone fucks up. It doesn't affect the dollar or the US economy. It will be the ship that everyone will jump to save themselves. This might take 10-20 more years, still, the fundamentals are that the dollar is collapsing on its own, without someone fighting it.

It is not Bitcoin the enemy of the dollar or the US economy. Bitcoin is a vehicle to help the population when they abandon their failing fiat experiment.

In a way I see what you mean and also agree that even if trump wanted to ban Bitcoin, the asset is so valuable that I think many people won't be bystanders but instead will embrace cryptocurrency.

Leaving it at that then the the argument flips upside down where even Trump might come to see that banning it running away from the issues regarding regulations and that would not be acceptable for the people of America as this act would put them at a disadvantage over the people where crypto and BTC is regulated and allowed.

I don't think that Bitcoin is in his focus or that he is planin to ban it.
You are right.that he only cares about himself and how to be re-elected and I don't think that Bitcoin can help him in that. Americans are not so focused on Bitcoin or cryptocurrencies in general and he can't blaim Bitcoin for the problems America has. Ban will not bring him advantage of any kind so I don't think he will do it although I beleive he is capable of really everything.

Exactly! America has of one of the higher number of Bitcoin users, If not the highest, and prohibiting any Bitcoin related transactions won't help him If he planned to re -run on the November election.
Not to mention, It's too late for him to put restrictions on Bitcoin, because the country has already been established in terms of adoption, usage, and technological enhancement. If this guy planned to get rid of Bitcoin, he should've done it long time ago.


Lastly, money laundering doesn't only happen in Bitcoin, but was done a long time ago before Bitcoin exist.
Not a good excuse.

We can't see how the US government being anti-crypto at this time but for sure Trump will take a look into this after the pandemic is over.
He once pronounces this thing but then, I was hoping he could change his mind knowing the new normal situation will likely remain even the crisis is over and that also their people have learned already about Bitcoin and its purpose. If He'll keep thinking about the benefits of his people and not the interest of his own will he might let it go and accept it.

Things can be changed in a matter of time and this negative insight that Trump has before will be changed also.

I don't think he will prohibit the use of bitcoin in the near future. As other countries are legalizing the use of it, why would he ban this? Better proceed with appropriate regulation rather than prohibiting it because there are many options how to go around the government when you talk about crypto. It is not on their advantage if he will do such action. And I guess, he is smarter assessing this kind of situation.

You got it right!

They can ban all they want but getting rid of it would really be an impossible thing yet supporters would still able to make or do engage
without being traced nor being detected.

The problem here is that they might not able to make fiat transactions but there are indeed lots of ways to do that.

Therefore, this wont really be that much a big issue.

Possibly yes, we all know that Trump hates everything. Maybe he is not that knowledgeable about bitcoin and the possibility of prohibiting bitcoin in their country is really huge. That's right that some countries have their own focus right now, the US government is really focusing on its stock market that is going down due to this pandemic.

Hopefully, Trump should not prohibit and continue the banning of crypto but instead focus on how they will make their economy grow.

The US government should seek more information and be knowledgeable about the manipulation of cryptocurrency especially bitcoin in their economy. It is not that hard to use bitcoin in helping the economy grow but there are already huge volume of bitcoin users who are now accessing in the market.

Hello to all. I don't believe Trump will ban Bitcoin. He is a fairly smart person, and besides being the president, he is also a previously successful business man. I think there will be people in the Trump administration who will explain that you can make good money on Bitcoin and there will be more benefits from cryptocurrency if it is legalized than prohibited.

maybe this is trump's controversial statement where trump may indirectly attack China. because we know that the politics of the two countries are always competing. but maybe this is not purely about Chinese relations, or maybe trump has its own reasons for banning bitcoin in the US

At least we know that Trump doesn't really like Bitcoin. So let it happen. The important thing is that we do not have a narrow view of Bitcoin and cryptocurrency itself. Without us knowing it and that happens, Bitcoin users continue to grow even though some countries prohibit Bitcoin transactions. Bitcoin will be a good trend in the future.

If Trump wanted it, he would ban Bitcoin. Would it change things a lot? No.

He will try to ban it. He can do anything he wants but will this affect bitcoin? I guess no.

Prohibition? Is it really possible in the case of Bitcoins?
You know we've got VPNs, free emulators, privacy maintaining softwares and whatnot. And one more thing, Bitcoin ain't no tobacco man, so that they would just put a ban on it because it certainly is out of their reach. And even if they do, people know how to bypass various blocks in order to work with BTC the way they used to be (take an example, porn sites were banned here in India but did we stop watching porn?) :P

P.S.: For those who think BTC can help grow any country's economy, please think again and my two cents for you. Literally? You think BTC is too big atm? I believe that BTC can change some people's lives (which means a part of the whole country may be benefitted) but the country itself can't rely on BTC solely for its economic growth.

If he really insist to prohibit or ban Bitcoin from the statements he have said before, then he must have done it beforehand. But we have seen no actions done by his government against Bitcoin so we can assume that the possibility of prohibiting Bitcoin will be just staying on his tongue or simply just through his words. The main reason why politicians or the government rather is against Bitcoin and the whole cryptocurrency is because they always got into the wrong idea or misconception of what is beyond Bitcoin really is. What they are just seeing is the negative things associated on using Bitcoin which is totally done by the people using it and not Bitcoin itself.

Also, it might be impossible for that thing to happen right now for there are lots of more important things he needed to attend to rather than focusing on banning Bitcoin which serves as an alternative job and source of income by many at this time of crisis. If he is fairly smart and thinks the goodness of his people, he would just let it and understand it first for what he might do can affect his people once he continue prohibiting Bitcoin in US.

There is no way US will prohibit bitcoin as there are billions invested in it and there are companies invested heavily in the cryptocurrency space and they would not disrupt that, but they might implement strict restrictions to raise capital as there are many scammers in the space and if you are able to restrict that it will be a great help for the community.

Why the government banned porn sites, it is against the freedom and hope the VPN and proxy services are taking care of that  :D.

Trump will prohibit bitcoin?

I don't think so, he could have done it already if he really wanted to. Trump focuses more on other problems that their country is facing right now because he doesn't take any actions since his last statement concerning bitcoin. And if somehow he prohibits bitcoin, I think he will just implement some rules to avoid any problems with the investors coming from their country.

He have lots of things to think before caring about bitcoin, with lots of problems around his jurisdictions for sure he will settled it
first before taking any actions, besides, he also a businessman himself.
There are influenced from the business sectors who might be favoring now this industry. But whatever might be he's going to
make any decisions according to what he understood the reports coming from his advisers regarding to this currency.

I don't even think it is not his issue just because he is looking at an election, he has also been focused in other businesses even globally like having interest in Japan and China. I just think bitcoin isn't no body's business and it will be difficult to be discouraged because it is decentralized. China has tried in 2017 but no major success on that and they are coming back.

I believe that if a decision has been made in his mind (or in other words, Trump has already made up his mind), there's nothing that could stop him from doing that or maybe he's just keeping it on his tongue to fear their people over there in order to stop BTC from rising? Anything could be the reason but why is he speaking against BTC suddenly? Just think. They can't impose restrictions which is why they are planning to remove the crypto economy itself out of the country. And billions? Who, Trump invested them? No, right? He doesn't give a damn about those billions considering he doesn't even give a fcuk on how their economy is getting drained down under the effect of the rise of their national debt they are facing.

I don't think he needs to act as a crypto-hater all the time. It is a matter of time that he will change his bad insights towards crypto and accept the change as the people want it aside from being loyal to USD. If he is able to understand the situation and what are the needs of their people by now, he could twist his mind and support Bitcoin. He should be welcoming Bitcoin instead of keeping it away at his fence.

He is in control of himself, and he is the president of a state so he can do that if he wishes as long as he has the support of his people, but hopefully it will not come to that state anymore, there's so much benefit they can enjoy of using bitcoin and crypto enthusiast in a country would certainly hate him.

If Trump will prohibit bitcoin, what he can only do is just to make a regulation but people can still transact if they want illegally. China did the same with bitcoin but the crypto space is still progressive, that's how powerful the market or we are since we are in control, not a certain country only.

The possibility is always there that a certain president of country will prohibit the use of bitcoin or crypto currencies if the can sense a danger in it but if it will not bring any harm to their
government then the chances that they are going to prohibit it is very less. But with regards to Trump actions, I cannot predict him at all so anything is impossible within his term.

Let's just hope that Trump will not fully prohibit the usage of bitcoin in their country even if we can see that Trumps attitude is quite not good in terms of bitcoin as he is somewhat an anti-Bitcoin.

If other Presidents from different countries have taken attention to Bitcoin and the whole Cryptocurrency Industry, President Trump is also capable of doing that. It just depends on whether how he will take the information regarding Bitcoin. If he sees it as an opportunity on where the government can benefit, he might place some rules and regulations regarding on how to use it BUT if he sees it as a threat, then he can possibly ban it.

Trump can control local money with the dollar, but even if he has all that power, he can never control Bitcoin because this currency is increasing in popularity day by day and no one can control or stop it.

I don’t see any problem if they are going to be aggressive in tackling people who are involved in money laundering crimes, such people deserve it. I just don’t want them to stop the use of Bitcoin as a whole, because I wouldn’t be happy. Bitcoin has been really useful and that’s how I have been receiving most payments from clients I work with.

Good thing about it is that the fees I’m paying for it is small, compared to what I have to be paying in banks. I just receive the money to my wallet and then withdraw it from my Luno app and pay a less fee and the money will be sent to my bank account because Luno operates locally in my country.

If we think like that, he can make regulations on the prohibition of using bitcoin, because indeed the attitude of the trump on cryptocurrency is not good and tends to monitor until now. As we know that trump regulation is only in his country, and it is impossible to ban bitcoin in the world because besides not having much influence on him, it is not in his power. I think Trump is currently more focused on the next presidential election, from some of the issues I read on news portals about the new movement of Trump to strengthen relationships and increase the faction.

A better question would be: "is it possible (by any politician or government) to prohibit bitcoin?" How would that work? Bitcoin is an Open Source software solution, basically it's just code that can be extremely easily copied, stored and transfered. Trying to regulate or prohibit its use would be a nightmare. Of course as history proves, all sorts of ridiculous legislations are possible to be made by the governments, but bitcoin is not a material item that can be easily controled, searched for and taken away from people. Bitcoin is information. And banning information is extremely hard, as proven by the longevity and popularity of bittorrent. If the governments couldn't do nothing about a group of hobbyists sharing movies and video games, do you think they have a chance against something like bitcoin?

I'm not so sure president Trump banned Bitcoin, he's a businessman and probably understands Bitcoin and cryptocurrencies, because a lot of people in America are investing in Bitcoin, and the American presidential election is coming up, and Trump will focus more on the presidential election than banning Bitcoin. in America

I think that Trump does not even play a relevant role in this equation, remember that his mandate ends in a couple of months. And the USA at no time has planned to ban Bitcoin, it has only wanted to regulate them, but if you look closely, one of its latest decree has been to allow the custody of Cryptos in its national banks so what you say does not make much sense.

I do remember the president making some anti bitcoin statements. But, I doubt he will jump over and start banning the use of bitcoin. Even if he does, it is not going to be good from him.
The big question is, how is he going to prohibit people from using it? I mean bitcoin is decentralized. As long as people do convert it to cash or use the banks, there is nothing the Government can do. It is more hard to stop the usage of bitcoin than you think.

i dont think his attention right now will be on crypto or bitcoin. there's a lot of pressing matters right now, not only in the States but all around the world. so i dont think he will dedicate his time banning crypto. and a lot of progressive countries are already open arms with crypto, what's the advantage if he will prohibit bitcoin? so very unlikely about such move. the government may regulate the usage of crypto but not prohibiting the use of it. as you said, btc is decentralized, so prohibiting the use of it is just futile!

I think that will depend on the countries that we are talking about. There are countries that he have some alliance with and there are those that he don't like and if we will be talking about those countries that he doesn't like, I think there is a high possibility that he will be banning it. He might also find a way to counter it, maybe a way to fight it.

I think it is impossible for Donald Trump to ban or prohibit bitcoin, even "he says bitcoin and cryptocurrency is based on Thin Air and not considered as money" (https://www.google.com/amp/s/www.forbes.com/sites/youngjoseph/2020/06/10/donald-trump-said-bitcoin-is-based-on-thin-air-but-wall-street-is-buying-en-masse/amp/) because if he wants to ban bitcoin, he already takes an action about it before he plans to banned tiktok in the US.

Well, Trump is capable of everything but I don't think he is going to ban Bitcoin. It's not quite clear what he would achieve with that and also at the moment I think that Bitcoin is the last thing of his priorities. And it's not connected with ban of tiktok like some think.

For sure he can. This person has so much power, that he can almost do or ban anything.
I really doubt he is going to, since then the bitcoin could help the USA now to recover the financial situation.
It would be better if he encourages it.

ya.ya.yo!

Well it would be but more likely, it will be only limited to the areas under his powers/authority. He has the power to do so if he does not feel something would be benificial for his country. This is not different to those countries wherein Bitcoin and other cryptocurrencies are not legal.

This would only be possible if he would find it unnecessary or his pride will just tell him to just ban it. But this could still be stopped once adaptation spreads more. If the development will be in a positive direction in the future and if someday he will realize the benefits one could get from using Bitcoin, things might go the other way around. Same thing goes for other countries wherein cryptos are not widely being used.

For example, China is one of the countries that banned Bitcoin but people are still using Bitcoin at high rates. So, I think Bitcoin usage can't be prohibited completely. Because Bitcoin is not in the control of any government, person etc. .   

what they mean here is he can stop btc on his own country and not stopping btc as whole because that wont be possible to the fact that every country has its own government or president  and other country are not against the use of bitcoin .

if other country can stop btc , that only means that btc is stoppable and not unstoppable . anywyay , whats the latest update about trump and btc ? i havent been following the issue for a while