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tee-rex
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November 10, 2016, 09:35:19 AM |
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On the surface, it may appear that Trump will have a positive effect on Bitcoin, for instance if people use it s a haven or to make remittances to Mexico.
However, later on Trump may be very bad for Bitcoin. Trump is known to be anti Silicon Valley and anti privacy, and pro surveillance. He might do something like ban encryption or make computer manufacturers install surveillance hardware and crypto chips. He might appoint a special team of the world's top mathematicians and security researchers to lead the 'war on crypto and terror' as if it were Enigma.
All of Bitcoin's history of 8 prosperous years have been under Obama and liberal democrats. Think about it.
Trump won't make deep interference over the digital currency network. In my view during the days of hard financial crisis over different countries bitcoin continued to grow, so trumps winning won't make big impact over bitcoin. Also US has just 10% of the world population and Asian countries were much involved into bitcoin compared to other continent countries. It seems that there are a lot reasons to expect that Trump winning the elections will make a difference for Bitcoin in the long run. I have already mentioned some of them, and you may want to look through my recent posts if you feel interested why it is so. Besides, the US population is well below 5% of the total world population, something like 0.32B vs 7.4B. |
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XCASH
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Activity: 929
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November 10, 2016, 04:16:51 PM |
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With American Elections coming to a end, whoever wins, will Bitcoin world be affected or not? I mean can the price suddenly shoot up or down. Or they put any kind of restraints or start accepting it for local use? Could Bitcoin benefit or will it be at a disadvantage
According to Julian Assagne, the elections are rigged and Hillary Clinton is already the new POTUS: https://www.youtube.com/watch?v=_sbT3_9dJY4I forgot where he exactly says it but I recommend watching the whole thing. He says that Trump will not be allowed to win. This made me consider a bet for Hillary, but then again, what if he actually wins? everyone was saying the brexit was rigged but it actually happened... So much for Julian Assagne's claim that the elections were rigged to ensure Trump couldn't win. The stock markets crashed then quickly returned to normal, and Bitcoin pumped then quickly returned to normal. Most traders obviously realized there's no point panicking because Trump isn't going to be sworn in until January, and nothing's going to change until New Year at the earliest. Any changes Trump tries to make to government policy will need the OK from the rest of the republicans. That will take time, and water down the policies he finally implements. Whatever affect he has on the Bitcoin industry won't be fast, and he will have bigger things than Bitcoin to occupy him like how to build a wall the size of the great wall of China, or explain why he can't. |
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Daisy14
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November 10, 2016, 05:11:42 PM |
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If Trump is able to create more jobs in the US hence devaluing YEN, then that is more good news for bitcoin. More demand from China drives up the price.
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TravisNeko
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November 11, 2016, 02:28:55 AM |
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If Trump is able to create more jobs in the US hence devaluing YEN, then that is more good news for bitcoin. More demand from China drives up the price.
Yes you are right this can maybe help the bitcoin but nothing is right now on hold, everything can change. There will not change a lot in my eyes. |
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jondeen707
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November 11, 2016, 10:09:07 AM |
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If Trump is able to create more jobs in the US hence devaluing YEN, then that is more good news for bitcoin. More demand from China drives up the price.
That is a seeming simple equation, but the reality is way more complex. Creating more jobs is a great commitment, but it may easily turn out to be another episode in the long list of demagogic tricks. |
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1Referee
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November 11, 2016, 10:39:27 AM |
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If Trump is able to create more jobs in the US hence devaluing YEN, then that is more good news for bitcoin. More demand from China drives up the price.
First of all, Trump is nothing more than a clown. I doubt he will get to create more jobs within the US. It's just a loud mouth. But just to answer your main point; More demand from China is a good thing for the short term, but it will also give the Chinese government far more incentive to tighten the regulations even further. They will do everything to prevent the average citizen from using Bitcoin as an investment/store of value tool, where they potentially can get a big part of their wealth out of the country. That's China's main concern. |
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jerowacik
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November 11, 2016, 10:51:09 AM |
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for now has not seen impacts. but I am sure a few more moments to be seen how the impact.
the leader of the United States is an influential person, so anything could happen.
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tee-rex
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November 11, 2016, 10:56:30 AM |
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If Trump is able to create more jobs in the US hence devaluing YEN, then that is more good news for bitcoin. More demand from China drives up the price.
First of all, Trump is nothing more than a clown. I doubt he will get to create more jobs within the US. It's just a loud mouth. But just to answer your main point; More demand from China is a good thing for the short term, but it will also give the Chinese government far more incentive to tighten the regulations even further. They will do everything to prevent the average citizen from using Bitcoin as an investment/store of value tool, where they potentially can get a big part of their wealth out of the country. That's China's main concern. You forget that the buyers from China will be purchasing bitcoins from the same Chinese miners mainly, so no wealth will be moving out of the country, correct? Regarding controlling the Chinese citizens over what they are going to buy, I don't think they will ever do anything like that, at least directly, through administrative power. The authorities could try to control Bitcoin miners, which they may already be doing to a certain extent, but not the buyers. China is not North Korea, after all. |
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ekoice
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November 12, 2016, 06:51:46 AM |
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I think whatever policies the newly elected president annonces, it will not affect Bitcoin. US has already tried its best to see any ways to ban Bitcoin but couldnot. Same thing would happen this time also.
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TERA
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November 12, 2016, 06:55:50 AM |
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The United States contains the majority of Bitcoin entrepreneurs, Bitcoin developers, and Bitcoin users. The language spoken in Bitcoin development is US English. The United States government is also the most capable of doing something technical to stop Bitcoin (or possibly China). In addition, when the U.S. sets laws, it acts as a precedent for the rest of the world, or gets carried over in treaties. There are three world superpowers and the other two already do not like Bitcoin.
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tee-rex
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November 12, 2016, 09:43:59 AM |
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The United States contains the majority of Bitcoin entrepreneurs, Bitcoin developers, and Bitcoin users. The language spoken in Bitcoin development is US English. The United States government is also the most capable of doing something technical to stop Bitcoin (or possibly China). In addition, when the U.S. sets laws, it acts as a precedent for the rest of the world, or gets carried over in treaties. There are three world superpowers and the other two already do not like Bitcoin.
China, which you seem to be referring to as one of the other two superpowers, may all of a sudden like Bitcoin after all. Trump seems to be overall hostile toward this country, at least, that's what follows from his words, and this hostility is mirrored by the Chinese leaders. Xi Jinping, the current head of China, was likely the only leader of big nations who didn't congratulate Trump with his winning the elections. And then we hear the rumors of the Chinese authorities imposing controls on Bitcoin capital flows. |
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TERA
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November 12, 2016, 06:06:54 PM |
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What makes you think China will like Bitcoin?
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calme
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November 12, 2016, 06:34:01 PM |
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i'd say so. for one, peter thiel just got appointed as an advisor for trump. news just broke
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tee-rex
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November 12, 2016, 09:45:01 PM |
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What makes you think China will like Bitcoin?
Because Bitcoin is one of the many goods that China is exporting at the moment. And just like with other things that China exports, the best consumer of their goods is the US. Why would they not love it if people are buying the Chinese bitcoins with the American dollars? Trump has been throwing threats of charging protective tariffs for Chinese exports, but with Bitcoin that may not work out. So why would China not like Bitcoin? |
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cengsuwuei
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November 13, 2016, 02:56:33 AM |
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If Trump is able to create more jobs in the US hence devaluing YEN, then that is more good news for bitcoin. More demand from China drives up the price.
i think not big affect, because bitcoin majority volume transaction in china japan bitcoin exchanger volume transaction is not big so can't affect to bitcoin price |
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