What does a President Trump mean for Bitcoin?

[TastyChillySauce00]

Since the election of Trump to the new US President yesterday, many questions about Bitcoin arise.

Will he promote Bitcoin and make it a breakthrough? Will he even officially ban Bitcoin? Will he make such a bad economic (and monetary) policy that Bitcoin will be seen as an alternative for many?

What do you think, what will a President Trump mean for Bitcoin?

i doubt it changes anything for bitcoin, until he announces any changes for digital currencies that is. But when he won the election we saw a huge spike in the price of bitcoin because everyone was switching currencies to bitcoin.

Definitely. When he was getting elected the rate of USD is dumped hence people getting worried and then save it in the form of bitcoin. Though this not last so long and the US could recover their economy in just a few days afterwards. i guess the price was increased not only because the falling rate of dollar

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[Milkduds]

I imagine that there are to many foreign policies for Trump to figure out and walk away from to give bitcoin the time of day in the first 2 years. Was hoping online poker may get a look but I am starting to see its going to be a slow moving government for the most part till they get setup.

[deisik]

Since the election of Trump to the new US President yesterday, many questions about Bitcoin arise.

Will he promote Bitcoin and make it a breakthrough? Will he even officially ban Bitcoin? Will he make such a bad economic (and monetary) policy that Bitcoin will be seen as an alternative for many?

What do you think, what will a President Trump mean for Bitcoin?

i doubt it changes anything for bitcoin, until he announces any changes for digital currencies that is. But when he won the election we saw a huge spike in the price of bitcoin because everyone was switching currencies to bitcoin.

Definitely. When he was getting elected the rate of USD is dumped hence people getting worried and then save it in the form of bitcoin. Though this not last so long and the US could recover their economy in just a few days afterwards. i guess the price was increased not only because the falling rate of dollar

It was as only for a few brief moments that the US dollar went down when Trump was announced the winner:



After that, it rebounded strongly and started to climb to its multi-month highs over 100. It is interesting to note that before the elections results were announced, the dollar had been slowly declining that reflected the expectations of the markets that Hillary would win. After these hopes were buried, the dollar started to get momentum since people were moving their money from stock markets into it, the latter obviously being seen as a safe haven...

Bitcoin seems to have profited from that too

[Juggy777]

Mr trump is a businessman and he shall sooner or later make some inroads into Bitcoin. My hunch says that our president elect shall approve of Bitcoin to surprise all countries and schok all, so far he has done that and I feel he shall do the same this time round.

[jovs]

Since the election of Trump to the new US President yesterday, many questions about Bitcoin arise.

Will he promote Bitcoin and make it a breakthrough? Will he even officially ban Bitcoin? Will he make such a bad economic (and monetary) policy that Bitcoin will be seen as an alternative for many?

What do you think, what will a President Trump mean for Bitcoin?

Trump is an altcoin. It's purpose is to support Trump during his campaign. Also Hillary Clinton has a coin called HILL. Whoever wins in the US presidency, between Hillary and Trump will make their altcoin pump. IN this case that Trump wins, the altcoin called Trump also increases its value. Yet, just like other altcoins, it dumps after few days Trump's victory.

[Kabul]

Trumps means nothing to Bitcoin because he is not an internet lover. Actually, he don't even know how to use email. However, Trumps can easily cause a huge impact on the economic system, which indirectly affect Bitcoin as well as its price. Don't you see that when Trumps becomes the USA president, Bitcoin price hit 750$ in just 2 hours ?

[deisik]

Trumps means nothing to Bitcoin because he is not an internet lover. Actually, he don't even know how to use email. However, Trumps can easily cause a huge impact on the economic system, which indirectly affect Bitcoin as well as its price. Don't you see that when Trumps becomes the USA president, Bitcoin price hit 750$ in just 2 hours ?

I can't confirm if Bitcoin price did really hit $750$ in just 2 hours (or close to that) after Trump had been declared as the winner since I didn't check that myself. But even if so, it might have more to do with the sudden drop in the US dollar value against the basket of major fiat currencies (as shown in the USDX chart above), and not so much with Bitcoin appreciating on its own. I mean simple mechanical change in the exchange rates, and right now we seem to be witnessing the reverse process...

That is, dollar gaining value and Bitcoin losing it (in dollar terms)

[croutonhexagon]

I had heard that billry lossed the electron become he announced that once he win he will ban bitcoin so all bitcoin supporter voted to trump. Well if Trump do the same then what will happen will people support back to Hillary.

[Shenzou]

I think Trump is going to screw up the american economy so bad that people will have to look for an alternative for the us dollar in which in this case the bitcoin which will make its price go up and so is the demand and since china controls more than half of it it will become the word's most powerful country in terms of economy

[mrkevio]

I think the price is going to rise because of Trump. He doesn't like globalism, but America will have more freedom from now on.. Bitcoin should be a choice for all of us, because we're meant to be here for freedom and peace. I prefer investing in Bitcoin right now because the world's going to be safe with him. If Hillary would've been chosen, I would've invested in Gold.

[thejaytiesto]

Well, Trump is not a friend to the globalists and globalists, of which the big banks are a major part of, pretty much want to control the world's money and business.

I don't care how much Trump is supposed to be against the globalists, I don't see a single reason why Trump would be pro bitcoin. All presidents by definition want to take control over their nation's money and will not let people move money outside of the system. Imagine Trump builds a wall and stops mexicans remitances and mexicans learn to bypass controls with bitcoin... now Trump would hate bitcoin. Stop dreaming about pro-bitcoin presidents, it will never happen, bitcoin is a revolution.

[OrangeII]

I do not know, we can only see the development of the current bitcoin. if the bitcoin prices actually rose, possibly, everything he did was for bitcoin, but if it is stable, I do not think all the things he does for bitcoin, because I feel there are many other more important tasks that need to be considered for a president

[Zadicar]

We could actually say this things when trump starts to seat on upcoming january 2017. We dont know his plans yet regarding into bitcoin if hes against or favors into it. but in my own view i think he will surely adopt bitcoin since hes a businessman and he will surely see the potential and usefulness of bitcoin but still its not a guarantee that would happen.

[Stedsm]

Trump is definitely in favor of bitcoins, at least based on what I have heard.
He will surely support this initiative and let people take its advantage too by allowing everyone to freely use it.

[TraderBill]

Well, Trump is not a friend to the globalists and globalists, of which the big banks are a major part of, pretty much want to control the world's money and business.

Really? Trump runs his business by taking billions in loans from banks. He's just as friendly with bankers as any other politician.

[stark101]

I think there was no meaning President Trump he said about bitcoin. Because it was not bitcoins election. As i read from the stories through the internet, President Trump never mentioned about digital currencies in the debates happened, but why should President Trump thinks about Financial regulation? What President Trump thinks about Technology? then Why President Trump would really care about bitcoin?

[dothebeats]

There would be no effect at all. Even the Obama administration does not have something to say about bitcoin. Trump would not touch bitcoin knowing that he's more into envisioning larger things for the great 'ol America. His main concern is about keeping other nations off of his motherland. Anyways, bitcoin would still continue to move forward even with a president like him. As a businessman, he would pursue larger things other than the thriving bitcoin community and economy.

[TraderBill]

There would be no effect at all. Even the Obama administration does not have something to say about bitcoin. Trump would not touch bitcoin knowing that he's more into envisioning larger things for the great 'ol America. His main concern is about keeping other nations off of his motherland. Anyways, bitcoin would still continue to move forward even with a president like him. As a businessman, he would pursue larger things other than the thriving bitcoin community and economy.

Every US attorney is appointed by the president. The guy who arrested Charlie Shrem and shutdown SR, Preet Bharara, is an employee of and was appointed by Barack Obama. Trump gets to replace all the US attorneys. SEC commissioners and FinCEN directors are appointed directly by Trump or his Secretary of Treasury. Trump's appointments have a huge effect on how Bitcoin and Bitcoin businesses are treated. Trump appoints the Secretary of Treasury, the Secretary of Treasury appoints the Director of FinCEN, the Director of FinCEN can choose to completely throw out and change this rule:

In July 2011, FinCEN added "other value that substitutes for currency" to its definition of money services businesses in preparation to adapt the respective rule to virtual currencies.[10] On March 18, 2013 FinCEN issued an interpretive guidance regarding virtual currencies,[11] according to which, exchangers and administrators, but not users of convertible virtual currency are considered money transmitters, and must comply with rules to prevent money laundering/terrorist financing ("AML/CFT") and other forms of financial crime, by record-keeping, reporting and registering with FinCEN. Jennifer Shasky Calvery, director of FinCEN said, “Virtual currencies are subject to the same rules as other currencies. … Basic money services business rules apply here.”

Trump -> Secretary of Treasury -> Director of FinCEN -> virtual currency rules
Trump -> SEC commisioners -> virtual currency rules
Trump -> US Attorneys -> virtual currency rules
Trump -> Federal Judges -> virtual currency rules

[fiscorcle]

I do believe that this new president cause bitcoin to stall and even lose value because it was above what it is now by 5%. Could it be because this president brags about not having to pay taxes
So I do think that he is not good for the nature of bitcoin and what it could stand for. Because he is a ruthless business man after all and will try to impose a tax on it and have the IRS do to with the rest of the bitcoin users what they are doing with coinbase customers now.

[BingoDog]

He probably doesn't think anything, he's not even interested in Bitcoin. That is my opinion. And I don't beleive that he will do something good for Bitcoin. He made his fortune with fiat and that is only thing he cares about. And because of bad political reputation he may even make damage to bitcoin.