2018-06-15 President Trump’s former Chief Strategist to start new cryptocurrency

[chemai87]

Steve Bannon, the former Chief Strategist of President Trump, once Trump’s close ally and advisor, and former Chairman of Breitbart News Network, seems to be having ideas on launching his own cryptocurrency.

Recently, in a small gathering of academics, Bannon is reported to have “floated the idea of launching his own cryptocurrency”, reports The New York Times. Much like President Trump, Bannon seems to enjoy thinking out loud, conducting brainstorming sessions in every conversation and spewing ludicrous ideas on the fly.

Bannon has already been reported as saying he has invested a ‘good stake’ in Bitcoin. He has also had private meetings with cryptocurrency investors and hedge funds, where he has discussed working on initial coin offerings [ICOs] through his investment business, Bannon & Company.

“It’s disruptive populism,” said Bannon in an interview.

He says:

“It takes control back from central authorities. It’s revolutionary. Control of currency is control of everything.”

His views mirror John McAfee’s, but while McAfee portrays himself as a paladin who fights to empower the masses. It would take a very creative business pitch to sell Bannon as a figure in the same mould.

Although the transformative power of cryptocurrencies and blockchain is recognized by a lot of people, they sometimes do receive bad press when certain unsavory characters openly embrace them for exactly the wrong reasons.

Mr. Bannon’s planning is only in its preliminary stages, but he may be laying the groundwork for helping entrepreneurs and even foreign countries create their own cryptocurrencies. The realm of cryptocurrencies draws into it people from all walks of life, from drug dealers to Wall Street white collars.

While Bannon has no intention of moving into the spotlight in Washington politics after Michael Wolff’s explosive, ‘all-revealing’ book “Fire and Fury”, championing the cause of Bitcoin reeks of political intent. The part of cryptocurrencies that Bannon seems most interested in, the ICOs and new digital token creations, is also the least transparent, and most easily scammed, part of the entire business.

Colin Platt, a cryptocurrency researcher, does not mince words and is reported by the NY Times to have said:

“It almost seems like a natural progression for a man who gained prominence by shoveling out unfounded conspiracies to now shilling complex technology and financial instruments to an unsophisticated investing public.

Source:https://ambcrypto.com/president-trump-former-chief-strategist-start-new-cryptocurrency/

[stompix]

From NYT
https://www.nytimes.com/2018/06/14/technology/steve-bannon-bitcoin.html

But he does see a political component to virtual currency.

“It was pretty obvious to me that unless you got somehow control over your currency, all these political movements were going to be beholden to who controlled the currency,” Mr. Bannon said.

His vision for virtual currency has elements of his unorthodox ideology. He sounds like both an avowed libertarian who wants government out of his life and a progressive who wants Wall Street held to account when he insists that virtual currencies can help citizens take back power from the central banks that “debase your currency” and make citizens “slaves to debt.”

Yup, he likes decentralizations only when it's about things he can't control... when he can do...f*** decentralization

Take back control from the central banks and give it to me  

[XFlowZion]

Is he going to be just like McAfee? Who does stupid things and pump shitcoins out of nowhere? I think we are better without Steve. McAfee is already an enough embarassment in the crypto scene so I pray to God that he will not pursue his plans.

[chemai87]

Very well said. If several people could hear and read about this news they'll probably definitely agree about what you said.

[Theb]

I am not going to judge him for now, and I will save my judgement until I see his project especially his whitepaper. But what is up with known people lately? They are creating their own cryptocurrency without any kind of unique vision. I only think that they are just joining the party in order to fund themselves from the sale of their cryptocurrency which is a too obvious move. They are like taking advantage of a non-strict market as they are eager to launch their own cryptocurrency without really any kind of plan.

[freedomno1]

I can't help but throw in some political commentary, soon in breaking news the Democratic Party will be Banning the Bannon coin.
Honestly I will hold off for now until I see a whitepaper could be used to fund campaigns, be promoted as a political coin etc.
For now let's see how it goes and munch some popcorn on the sidelines.

[carlfebz2]

I am not going to judge him for now, and I will save my judgement until I see his project especially his whitepaper. But what is up with known people lately? They are creating their own cryptocurrency without any kind of unique vision. I only think that they are just joining the party in order to fund themselves from the sale of their cryptocurrency which is a too obvious move. They are like taking advantage of a non-strict market as they are eager to launch their own cryptocurrency without really any kind of plan.

You are definitely right. They are jumping in and going with the trend stuff because they do saw that this can make them profit and at the same time they would boost up charisma for sure. We cant really make any judgement as of now but basing on what we do saw on those who created already their own coin we can presumed that this would be just like an another add up of shitcoin in the market which theres no specific benefits or usage of such coins being created. So it is already an expected thing.

[vit05]

 He wants power. If he is in a power position, he doesn't care about how bad centralization is. If he is not in a power position, he will fight for change this with everything he can. I do not think he truly understand everything about cryptocurrencies.

[chemai87]

We will wait for the latest update about this news. Whatever the results may be then we can conclude if his plan is working good or not. What we have in our minds right now is that we are just giving opinions on whether we could benefit from his plans or not. We will judge him by the time we know the latest news.

Have a great day to all.

[bL4nkcode]

Is he going to be just like McAfee? Who does stupid things and pump shitcoins out of nowhere? I think we are better without Steve. McAfee is already an enough embarassment in the crypto scene so I pray to God that he will not pursue his plans.

McAfee was already threated by the SEC so he stop abput his shit promoting shit coins.

So far creating new cryptocurrency from an influenced people might be a good news as long he's not going to make an ICO then it will be fine I guess.

[ruthbabe]

Just like John McAfee’s political ambition, Perhaps, Steve Bannon also wants to ride or enter politics by using the popularity of Bitcoin and cryptocurrency in all the states of the US and the territories they administer. Not bad idea I suppose.

[stompix]

I am not going to judge him for now, and I will save my judgement until I see his project especially his whitepaper. But what is up with known people lately? They are creating their own cryptocurrency without any kind of unique vision. I only think that they are just joining the party in order to fund themselves from the sale of their cryptocurrency which is a too obvious move. They are like taking advantage of a non-strict market as they are eager to launch their own cryptocurrency without really any kind of plan.

$
Too simple?
Money! 

Behind all those so-called fighters you see on tv and on youtube, there is a desire for money.
Do you honestly think that a so-called celebrity will do this just because he wants to make the world a better place/

Tere is no need for other coins to do that, we already have BTC, but BTC cant' make them rich anymore so they chose the easy way of copying satoshi.

Just like John McAfee’s political ambition, Perhaps, Steve Bannon also wants to ride or enter politics by using the popularity of Bitcoin and cryptocurrency in all the states of the US and the territories they administer. Not bad idea I suppose.

It's actually a very bad idea in my opinion.
It will have exactly the opposite effect, people that love cash will look away and crypto lovers will see him as trying to milk some money (like I do) so he might end up losing move supporters with this.
But finally, I really hope this coins for everyone madness stops!