If Donald J. Trump wins, Bitcoin will be better than fine.

[mindrust]

My honest view is that even if the majority if the hashrate happens to be in the US it won’t harm bitcoin’s decentralization.

It will hurt decentralization. The only way it won't is if the percentage of hashrate in US doesn't go above 5% (roughly the same as US population/world population).

But that is not the biggest problem. The biggest problem is that if "majority" of hashrate were inside US, it would significantly damage one of the main Bitcoin Principles called censorship resistance since as I said the US laws enforces censorship on miners.

If bitcoin is going to get censored and destroyed like that, maybe, it never deserved to exist in the first place.

If that’s a real threat, we are already facing it.

The data I read says more than 30% of the total hash rate is in the US which is the biggest piece already. I think there is room for another 10% at least.

Let’s say the worst has happened the US gov started to censor lots of transactions, the miners will go to some other country and abandon their businesses in the US. If all govs fight btc like that, see my first sentence.

[Luzin]

I don't feel confident in future decisions, because I believe Trump can also change for certain interests. Now that Trump is looking for supporters, he will work in various ways to get a lot of votes. Especially by bringing the crypto issue that has been promised more amicably. But remember that political promises are sometimes not kept. In fact, many leaders have annulled the sentence that had been said during the election campaign.

[Rabata]

What is your opinion?

As far as I know it will not be more than 20%. Again the percentage that is seen may also decrease after a year. Statistics can give an idea but we have to believe it though always it will not be true. The views of the two leaders are different at the moment, when they take over the responsibility of the country, there will be no confusion between them. Though the two leaders have wide differences in their thinking, I don't believe anyone would do anything with a different view of crypto. Bitcoin will run it's own pace. There may be temporary or long-term Bitcoin bearishness due to negative results, but no one can control Bitcoin. So I think whoever comes from any political party shouldn't expect something different from Bitcoin.

[Outhue]

You people are the ones making this a big deal, you are one of the reasons why Bitcoin react to all these nonsense, it doesn't have to be like this but you people are making a big deal out of it.

Before Kamala and Trump ever think of going to the presidential sit Bitcoin have survived the Biden administration, and also Trump was the president in 2019 Bitcoin still did what it wanted, now let's go back to 2009, that was Barack Obama and George Bush's days, Bitcoin survived, all these unnecessary fear and panic is not important.

If kamala wins Bitcoin will make a new ATH if it has to, the same as Trump, the only plus here is that Trump wants the best for Crypto holders and those big BTC miners in Texas will breathe freely at last, with no stupid tax on them.

[dificanovi]

I know the statistics say it is true but I generally dislike statistics and do not trust them much.  Do you really think around or over 20 percent of the Americans have bought Cryptocurrencies?

I believe the percentage is unrealistically high, or maybe I am the one with an unrealistic expectation or perspective.  While I think a significant number of people would be affected by an Anti Bitcoin Government, I do not think the number would be significant enough to trigger a noticeable change in the unemployment rate or the Economy.  Particularly considering that even if over 20 percent of the Americans purchased Cryptocurrencies, that does not guarantee they are still holding on to them.  Maybe they purchased years ago and now only under 5 percent of them are still interested in them.

What is your opinion?

I think more than 20% of Americans have bought bitcoin, I believe this because the economy in America is very good. Entrepreneurs or billionaires in America must have had cryptocurrencies such as Bitcoin, besides Gold they also believe Bitcoin as a very promising investment in the long term. However, if business people related to cryptocurrencies are taxed, it will affect people in America to move from the country or they will sell all their assets related to cryptocurrencies.

[ivankoh]

Because of this I guess it is not really good for bitcoin, having 20% ​​can create an easy trap by their direct pressure, as long as the government Usa announces the disadvantage, bitcoin will definitely still react the way they want. Is that really good for bitcoin? Meaning without getting your hopes up, it's become a reality and the power of bitcoin. I'm a little skeptical that it will happen if Trump is re-elected.

[Antotena]

I don't feel confident in future decisions, because I believe Trump can also change for certain interests. Now that Trump is looking for supporters, he will work in various ways to get a lot of votes. Especially by bringing the crypto issue that has been promised more amicably. But remember that political promises are sometimes not kept. In fact, many leaders have annulled the sentence that had been said during the election campaign.

I can't really remember if Biden administration made any promises about Bitcoin and crypto. They clearly used black community and George police brutality to gain favour of people together with some rigging to take out Trump. What Trump is doing and campaigning right now is just based on what he see the current government is avoiding and that's what he is trying to give back to people which is more political than something he would do when in office.

I want you to know that it's very simple for any politician to make promise when they are not in office and when they resume office and why thag happen is because the presidency is not a one man person, presidency is a table of kings were men sit at the table to make decisions that favour them and there business. There are some group of people that are more powerful than Kamala, Biden and Trump right now in US but prefer to use these guys than for them to seek for the support to run the office.

[Hamza2424]

BTCBTCBTC

As a senior my advice is you should not make such posts, it will directly impact your post quality and there a high chance that the moderator is going to delete your post, you should acknowledge that according to the rules low-quality topics and posts are not allowed in the Bitcoin section. Such posts are marked as spamming and you should avoid that, Best of luck with your Bitcoin journey.

You people are the ones making this a big deal, you are one of the reasons why Bitcoin react to all these nonsense, it doesn't have to be like this but you people are making a big deal out of it.

I'm with you on that, our perspective is on the same page, such ordinary topics should not be discussed as they hold zero value in long-term perspective.

[NotATether]

Ditching the US passport itself isn’t a crime. You are twisting the facts here.

I never said it was a crime but that it's an extremely dumb thing to do, and Roger Ver was caught up in some obscure tax rules related to his companies after he thought he had already paid off his taxes. So not actively avoiding paying tax unlike the guy on the subject of this topic.

[mindrust]

Ditching the US passport itself isn’t a crime. You are twisting the facts here.

I never said it was a crime but that it's an extremely dumb thing to do, and Roger Ver was caught up in some obscure tax rules related to his companies after he thought he had already paid off his taxes. So not actively avoiding paying tax unlike the guy on the subject of this topic.

So what's your point exactly? Ver was avoiding his taxes and got caught. He also ditched his US passport. He didn't get punished for ditching his US passport. He was punished because he was avoiding his taxes.

One can pay his taxes in full and still renounce his US citizenship and nothing will happen to him.

And your point was?

[d5000]

Trump can indeed lower the electricity prices. Drill baby drill.

So in the US electricity is generated still with ... oil like in 1910 or so?

Even if you refer to natural gas ... natural gas for peaking, which is where most gas is used, is one of the most expensive technologies to generate electricity. Combined cycle (orange line) is cheaper but still more expensive than renewables, although cheaper than nuclear. Even coal is now moving into the "expensive" category:



Source: Lazard, 2024. - Graph: RCraig09 @ Wikimedia (CC-BY-SA)

It is still a good thing if more mining happens in the US as it will create more jobs for the US citizens. The voters should take that into account as it is stupid to drive away potential job opportunities to some other country.

Bitcoin mining is one of the most automated industries that exist. The number of IT professionals benefitting from it should be quite marginal ...