Why Trump presidency may turn out beneficial for Bitcoin long term

[HaXX0R1337]

Among his many campaign promises as a candidate for the US presidency, Donald Trump has also been promising to close the US markets for the Chinese goods, at least partially. That, according to him, will help restore American jobs that he accused China of stealing. If he ever lives up to his promises and actually does something to that tune, it will certainly cause further devaluation of Yuan, the national currency of China. But the Yuan devaluation seems to be one of the primary drivers behind the growth of Bitcoin for the last two years, along with the reward halving.

What are your opinions on the consequences of his economic policy in regard to Bitcoin and its price in the long term?

I think bitcoin is going to soar up during Trump president. After all Trump received bitcoin as donation during his campaign. Donald Trump has pledged to declare China a currency manipulator on day one of his presidency. During his campaign, he also repeatedly pledged to impose a 45% tariff on Chinese goods. His promises risk creating a trade war between the U.S. and China which could weaken the yuan and accelerate Chinese capital outflows. When the yuan falls, investors often turn to bitcoin.

But couldn't the Chinese revenge Trump by dropping Bitcoin price? I've heard different opinions on this, but it seems that Chinese miners are controlling a massive share of Bitcoin mining. On this account, they should have enough bitcoins on hand to affect the price, most likely enough to crash it. For example, if they decide to sell all their Bitcoin reserves at once.

bitcoin can really hurt China, because they are trying to control their exchange rates. even though there are many Chinese miners, they do not have an union or such, so they are not organized. when an crisis appears they will try to get away and keep their own money instead of fighting together.
That being said, if Trump delivers his promise to China, it will hurt CNY, and people might switch to bitcoin for safety, if the theres no policies stoping them.

also wondering how is the depreciation of CNY a driving force of btc rising in value, as fas as I know CNY depreciating helps blooms the Chinese economy, does not that mean less people there will use bitcoin?

You yourself said that people might switch to Bitcoin for safety. Depreciating currency helps exporters to find new markets for their goods but ordinary people pay for this with their money losing purchasing power because everything becomes more expensive in that currency, especially imports. Quite naturally that when a national currency starts quickly losing value (depreciating), people start searching for safe havens like gold or dollars. Now Bitcoin seems to be another safe haven, at least to a certain extent.

To a certain extent is definitely right. It's not as stable as most safe havens but it usually doesn't go along with the stock market (stocks go down, bitcoin rises). I think because bitcoin has some years under it's belt at this point people can look at the past and see that it is a true safe haven investment but is a little unstable too (which of course contradict themselves).

i dont actually think that bitcoin might hurt china strong, cause you need to remember that most of bitcoin is mined in china actually,
 we have the biggest number of miners all over the world in this contry, so it is kidna well distributed there i guess, for elites

[tee-rex]

You yourself said that people might switch to Bitcoin for safety. Depreciating currency helps exporters to find new markets for their goods but ordinary people pay for this with their money losing purchasing power because everything becomes more expensive in that currency, especially imports. Quite naturally that when a national currency starts quickly losing value (depreciating), people start searching for safe havens like gold or dollars. Now Bitcoin seems to be another safe haven, at least to a certain extent.

To a certain extent is definitely right. It's not as stable as most safe havens but it usually doesn't go along with the stock market (stocks go down, bitcoin rises). I think because bitcoin has some years under it's belt at this point people can look at the past and see that it is a true safe haven investment but is a little unstable too (which of course contradict themselves).

Bitcoin has been pretty stable recently showing a tendency of growing up, so if we talk about the ordinary Chinese people looking for safe havens, Bitcoin may be the only viable option for most of them. I don't really know if gold is available to the general public in China besides jewelery, and they might have strict controls as well on buying foreign currencies such as dollar or euro, which also seem to be safe havens (well, at least the US dollar presently).

[clickerz]

Actually trump seem to be a guy with lots of Patriotism and he may really start banning foreign goods and  may build wall between mexico and american border however as being president of world most powerful country it will be not easy for him to get all his promises done as he also have to make United state Congress to agree upon this and i highly doubt he will get that much support in this things.

However sudden price spike was nice to watch after he got elected, i think there will be lot more good news coming for bitcoin in near future.
 

Nice observation. If that sudden high price is credited to USA election after Trump's winning, its good for us and not to Pres. Trump Bitcoin price goes up can be interpreted that because of Trumps uncerntainty, they pull out their assets and buy bitcoin or other  instrument they can safely park their money.

[vasrasus]

Among his many campaign promises as a candidate for the US presidency, Donald Trump has also been promising to close the US markets for the Chinese goods, at least partially. That, according to him, will help restore American jobs that he accused China of stealing. If he ever lives up to his promises and actually does something to that tune, it will certainly cause further devaluation of Yuan, the national currency of China. But the Yuan devaluation seems to be one of the primary drivers behind the growth of Bitcoin for the last two years, along with the reward halving.

What are your opinions on the consequences of his economic policy in regard to Bitcoin and its price in the long term?

I dont think Trump will have that time to interfere in bitcoin due to what Americas issues that are more needed to have attentions. May he will notice it if it will have such a great impact more in America. Hoping that it will really be in long term and as we know it is still and will always be beneficial yo us with or without Trump.

[tee-rex]

Among his many campaign promises as a candidate for the US presidency, Donald Trump has also been promising to close the US markets for the Chinese goods, at least partially. That, according to him, will help restore American jobs that he accused China of stealing. If he ever lives up to his promises and actually does something to that tune, it will certainly cause further devaluation of Yuan, the national currency of China. But the Yuan devaluation seems to be one of the primary drivers behind the growth of Bitcoin for the last two years, along with the reward halving.

What are your opinions on the consequences of his economic policy in regard to Bitcoin and its price in the long term?

I dont think Trump will have that time to interfere in bitcoin due to what Americas issues that are more needed to have attentions. May he will notice it if it will have such a great impact more in America. Hoping that it will really be in long term and as we know it is still and will always be beneficial yo us with or without Trump.

He may not have to interfere in Bitcoin affairs directly, but the decisions he takes, for example, raising tariffs on the Chinese goods that America imports may well have a dramatic impact on it. Bitcoin doesn't exist in a sort of ivory tower reluctant or invincible to political and economic decisions of the powers that be even if they don't affect it immediately.

[Arcteryx]

With Clinton anti-bitcoin then yeah, Trump would be for bitcoin to appeal more to the voters during the election. And now that he won it seems to had brought bitcoin up a bit for a little while atleast but now that everything is said and done, it has gone back down to the level before the result of the election was.

One more thing, Trump should do some introduction and let the people know that he wants to implement the usage of bitcoin immediately to his country. As I know, there is already a plan for 2017 that the whole world will implement the cashless society and bitcoin will be one of crypto that is good to consider and Trump should be the leader of this implementation.

If this was done then he would have much more support from the younger demographic and probably make the others who didn't vote for him make them think that he is indeed about change and for the better. But who knows. Only what his next steps will show if he is just full of it or actually does want to make America great again or just hate (him) more.

[freedomgo]

With Clinton anti-bitcoin then yeah, Trump would be for bitcoin to appeal more to the voters during the election. And now that he won it seems to had brought bitcoin up a bit for a little while atleast but now that everything is said and done, it has gone back down to the level before the result of the election was.

One more thing, Trump should do some introduction and let the people know that he wants to implement the usage of bitcoin immediately to his country. As I know, there is already a plan for 2017 that the whole world will implement the cashless society and bitcoin will be one of crypto that is good to consider and Trump should be the leader of this implementation.

If this was done then he would have much more support from the younger demographic and probably make the others who didn't vote for him make them think that he is indeed about change and for the better. But who knows. Only what his next steps will show if he is just full of it or actually does want to make America great again or just hate (him) more.

Let's just hope for the best of America and the bitcoin ecosystem as a whole. Hope, this guy will help to promote bitcoin.

[STT]

With Clinton anti-bitcoin then yeah, Trump would be for bitcoin to appeal more to the voters during the election. And now that he won it seems to had brought bitcoin up a bit for a little while atleast but now that everything is said and done, it has gone back down to the level before the result of the election was.

One more thing, Trump should do some introduction and let the people know that he wants to implement the usage of bitcoin immediately to his country. As I know, there is already a plan for 2017 that the whole world will implement the cashless society and bitcoin will be one of crypto that is good to consider and Trump should be the leader of this implementation.

If this was done then he would have much more support from the younger demographic and probably make the others who didn't vote for him make them think that he is indeed about change and for the better. But who knows. Only what his next steps will show if he is just full of it or actually does want to make America great again or just hate (him) more.

The younger demographic might not recognise that closing off valid product lines of production raises costs to USA businesses, the general effect of that is reduce available money within a society as it seeks to gain the same utility it has blocked with the loss of free trade.    This idea is not profitable or likely to raise value anywhere, it was tried in the 1930's and did not relinquish until the world war that disrupted it along with many other bad ideas of governments at that time.  Generally after the war we again had free trade and USA was again able to prosper.

Capitalism goes hand in hand with open competition and availability to trade by all.   The only valid reason to close trade with China is with market flooding via subsidised goods made at loss by support of government not free enterprise.    Bitcoin should not generally gain by the loss and failure of any country, it will gain when its preferable in use to other standards such as the dollar.
The biggest mover for bitcoin will be the dollar not Chinese or other currency, the reason for a connection is that Chinese money is using dollars to access world markets.  I think the bitcoin effect is indirect.
If Trump blocked use of dollar and USA banks for trading with China then maybe they would switch to use bitcoin in transactions, thats possible I guess.  Its also possible they use other currency, EURO is the most likely

[tee-rex]

Capitalism goes hand in hand with open competition and availability to trade by all. The only valid reason to close trade with China is with market flooding via subsidised goods made at loss by support of government not free enterprise. Bitcoin should not generally gain by the loss and failure of any country, it will gain when its preferable in use to other standards such as the dollar.

I cannot fully agree with this. Why should the US care whether the Chinese government is subsidizing their production? They could use slavery and child labor, and this would totally inhuman and condemnable, but insofar as free trade in particular and laissez-faire capitalism in general are concerned, that shouldn't be an issue.

Trump could just as well claim that China is subsidizing their goods through cheap resources and better demographics.