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Author Topic: If Kamala Harris wins, Bitcoin will be fine.  (Read 2075 times)
Oluwa-btc
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November 10, 2024, 06:12:44 PM
 #161

Who says bitcoin won't be fine if Kamala Harris won? Just because Kamala is not highly verbal about bitcoin and the crypto space does not mean that she isn't supporting bitcoin in silent. We still don't know her future plans for bitcoin if ever she won, and even if she won't prioritize bitcoin same like Biden, that won't change the fact that bitcoin is already good for majority of its users and investors.

I think we are just speculating too much. Bitcoin is never a single country commodity but a worldwide currency and investment tool. Even Harris or Trump won't change that fact.

Bitcoin alone has or stands a chance to surviving without human/political influencer.Over the years,Bitcoin has proven to be intentional and promising too.Even till the nearest future Bitcoin will still be perceived and gains more attention and attraction from everyone all over the globe.The political associates wouldn't have much effects on the implementations as of now and even later.Bitcoin moves against all odds.

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November 10, 2024, 07:18:30 PM
 #162

Bitcoin alone has or stands a chance to surviving without human/political influencer.Over the years,Bitcoin has proven to be intentional and promising too.Even till the nearest future Bitcoin will still be perceived and gains more attention and attraction from everyone all over the globe.The political associates wouldn't have much effects on the implementations as of now and even later.Bitcoin moves against all odds.
Politics always have implications and impact on bitcoin, if not entirely on the network, but political play affects the price of bitcoin very much, especially when it's about US politics and economy and other world classes with good economies.
 
From the way things are moving currently, if the government adopts crypto and moves most of their reserve to bitcoin, then we will have a big problem compared to the advantage in terms of price control because the next political phase might decide to dump all that the last has accumulated.

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November 10, 2024, 08:45:34 PM
 #163

Just a few "last remarks" on some of the last posts I found interesting (the topic will soon be closed -- for obvious reasons Wink -- if too many low-quality posts are added):

Europe will get over it soon. Especially when crypto promises to improve the mainstream economy. People living in European countries have the power to elect politicians/government officials through democracy. If the government gets too tough on the crypto industry, people will choose candidates that are more friendly towards it. Assuming crypto is highly popular in the bloc.
According to estimations, European countries do not see such a high crypto ownership (most of the countries register numbers close to 10%), as in the US (close to 20%) still.

In general however I agree that parties proposing too crypto-hostile policies can be hurt by crypto supporters already. The current EU policy in MiCa seems more or less reasonable, but the AMLR paragraph which restricts privacy coins like Monero is in my opinion so hostile that I would indeed vote for parties vowing to abolish that paragraph. Still there may be time as it only will come fully into force in 2027. I think in their eager to combat cybercrime the governments forget how important it is for marginalized groups and opposition groups in dictatorships to be able to transact with privacy coins.

If Trump is serious about promoting bitcoin in the US , other countries will do the same.
This is not exactly correct. If countries add BTC to their reserve, it is possible that nobody follows them (like it occurred when El Salvador started with that policy) and the reserves plummet in value.

The US of course is a big fish in the pond. But even if they really buy a million BTC (which is already an extreme proposal) then they will own as many BTC as the US ETFs "only". The ETFs were not able to stop the 50k crash in August, for example, and such deep dips can scare other governments away from following.

One could even argue that the US, if they decide to add BTC to their reserves, realize a gamble: they win if other countries follow. It's possible that the gamble plays out. But if they don't follow, then their gamble may fail.

Bitcoin's price is already quite high. It's not a "tiny market", and thus a single government while it may be able to move the price a few %, it's not enough to drive them in a completely different order of magnitude.

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November 12, 2024, 12:02:38 PM
 #164

I think the EU or even China, Trump's upcoming stance will be the deciding factor in whether they change their stance on bitcoin or not . If Trump is serious about promoting bitcoin in the US , other countries will do the same.
Recently, German MP Joana Cota also said that if the United States buys bitcoin as a national reserve , Europe will also FOMO . In addition , the trade war between China and the United States will continue under Trump , China will have to legalize cryptocurrencies if it does not want to suffer more serious damage .  Although there is no official information yet, rumors about China lifting the cryptocurrency ban are spreading more and more.
In my opinion ,  the future of bitcoin in banned countries will depend on the attitude of the Trump administration , if they use it as a strategy , the rest of the world will have to follow them .

Of course. They're waiting for the US to make its move. I'm very sure Trump will proceed as planned by establishing a US Bitcoin reserve. "Hyperbitcoinization" is much closer than we've thought. It won't be long before the whole world adopts Bitcoin as its main currency. Perhaps this will mark the beginning of the end fot Fiat? Only time will tell.

Thank God Trump won the 2024 presidential election. Otherwise, Bitcoin would've been a goner (in terms of market price). At least within the short term. The bull market is just getting started, so hang on tight as this is going to be a wild ride. Exciting times ahead for all bitcoiners. Smiley

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