Trump's pick for budget chief loves gold and bitcoin

[calkob]

This guy is going to be great,   

http://uk.businessinsider.com/trumps-budget-chief-mark-mulvaney-loves-gold-and-bitcoin-2016-12?r=US&IR=T

[1714052168]

1714052168

[neochiny]

Hmm. Thanks for the link.

But, I dunno. All he says is "the cryptocurrency could not be "manipulated" by the government". So, at least he's open-minded in regards to crypto-currency but it also doesn't say what his stance is considering he's also part of the government.

Anyway, what I find worrying is that he's also been quoted as saying "only form of money permitted by the Constitution is gold and silver coin". https://www.bloomberg.com/news/articles/2016-12-29/trump-s-pick-for-budget-chief-liked-gold-had-dim-view-of-dollar

[oblomov]

Anyway, what I find worrying is that he's also been quoted as saying "only form of money permitted by the Constitution is gold and silver coin". https://www.bloomberg.com/news/articles/2016-12-29/trump-s-pick-for-budget-chief-liked-gold-had-dim-view-of-dollar

This is stated in the Constitution.  Gold and silver specie are the only lawful money.

This doesn't mean that scrip (bitcoin is crypto-scrip) can't be used in the place of money, just that it is not lawful money.

If Trump's budget director is a hard money advocate, this should be good for bitcoin.  It should not cause worry.

[Yakamoto]

Hmm. Thanks for the link.

But, I dunno. All he says is "the cryptocurrency could not be "manipulated" by the government". So, at least he's open-minded in regards to crypto-currency but it also doesn't say what his stance is considering he's also part of the government.

Anyway, what I find worrying is that he's also been quoted as saying "only form of money permitted by the Constitution is gold and silver coin". https://www.bloomberg.com/news/articles/2016-12-29/trump-s-pick-for-budget-chief-liked-gold-had-dim-view-of-dollar

He like means that the government shouldn't do anything to Bitcoin, but he likely isn't going to do anything special based off of this information. He's not wrong about gold and silver being the only form of money, but we're so far gone from that it's going to be interesting to see where it goes.

[wildworld]

Gold and silver I bought this evening at 11.57, 14
After my analysis, this was the right time to buy.
Keep Bitcoin!
Good investment :-)

Thanks

[yayayo]

That's nice to hear. Trump and his team is certainly much more positive towards free forms of market money than Hillary would have been. So it's a small gain of freedom (in these days we need to celebrate even the slightest indications of a more libertarian perspective).

However I strongly hope that Bitcoin will never be in such a bad shape that it would be subject to the mercy of politicians. If that would be the case, I would dumb my small stash and run...

Bitcoin development needs to focus on strong security and improved privacy to maintain the decentralized nature of the network. It's string technology, not politics that gives Bitcoin its value.

ya.ya.yo!

[MingLee]

While it's always good to have a friendly face in a position of power, I would definitely say that only a small blessing since he's just the budget chief and he doesn't have much access to other policies and actually supporting Bitcoin beyond word-of-mouth, unless he has some sort of budget he can allot towards Bitcoin.

The kind words will take us a distance, but they can only take us so far. Regardless, it's good news we likely won't have to worry for 4 years.

[BrewMaster]

i couldn't agree more.
this was one of the biggest news that i have heard this month and i believe that the start of this rally was because of this single news and how the budget chief and others are so pro bitcoin.
i just hope they live up to the expectations and we can see more bitcoin adoption.

[Gotottack]

This is great news for us bitcoiners in the US and elsewhere! It's good to see that some policy makers are placed in position who are open to the idea of bitcoins and probably in the coming years we would see new laws and policies that would promote the use of bitcoins and cryptocurrency in the US. Any if then probably we can see more countries following it.

[pooya87]

i have made a topic about this with some good links in the speculation board in the early days of the rise before we were all talking about the $1000 and the moon. and i still think it can be the initiation of the moon for us.

How much Trump "bitcoin-friendly-team" affects price

[criptix]

www.forbes.com/sites/chasewithorn/2016/12/22/heres-how-much-trumps-cabinet-is-really-worth/

The richest cabinet in history. The big boys of fiat advocating bitcoin?
Somehow i'm not conviced.

[financetalks]

Glad to read it. At least this guy is not anti-bitcoin. Policy will possibly be more open to Bitcoin, and that means less restrictions in using Bitcoin can be expected in the future.

[traderethereum]

Glad to read it. At least this guy is not anti-bitcoin. Policy will possibly be more open to Bitcoin, and that means less restrictions in using Bitcoin can be expected in the future.

if there are many people like that guy that is not anti-bitcoin then i am sure that bitcoin will be spread into more people and the government will not prohibited people for using bitcoin and for bitcoin itself, the user will be grow and we can see that bitcoin will be available more in the offline store. at least this will be a good news for bitcoin community and we hope this will be followed by another person.

[Idrisu]

I will be most happy if trump legalize bitcoin or crypto currency in usd as this will make bitcoin to jump all time high said 1btc to$5000. However if he legalize bitcoin I so much believe that it will breach the gaps between the Rich and the poor

[Love!]

Hmm. Thanks for the link.

But, I dunno. All he says is "the cryptocurrency could not be "manipulated" by the government". So, at least he's open-minded in regards to crypto-currency but it also doesn't say what his stance is considering he's also part of the government.

Anyway, what I find worrying is that he's also been quoted as saying "only form of money permitted by the Constitution is gold and silver coin". https://www.bloomberg.com/news/articles/2016-12-29/trump-s-pick-for-budget-chief-liked-gold-had-dim-view-of-dollar

This is worth resurrecting.

He sounds too old school for his own good. By his logic, the dollar is not legal since it isn't backed by gold anymore.

[bitblackred]

Wow, Trump is a great guy. It's great the people of America chose him instead of Hillary!
But I wouldn't believe him too much. It may all change in a moment. You know, they are politicians

[|Bitkoin|]

www.forbes.com/sites/chasewithorn/2016/12/22/heres-how-much-trumps-cabinet-is-really-worth/

The richest cabinet in history. The big boys of fiat advocating bitcoin?
Somehow i'm not conviced.

Same here. I don't see how the richest, most successful businessmen and women in the world who understand the banking system in and out and know how to exploit it would be interested in growing Bitcoin and making all of that knowledge useless.

At the same time, it doesn't hurt to have a cryptocurrency expert in the cabinet considering it is now officially a "thing", which probably could not have been said before this year's price increase.

[eaLiTy]

It is good to hear these sort of positive news,what will be their point of view if there is a split in bitcoin,will they change the stance,he praised bitcoin because it cannot be manipulated but other than that i did not hear anything from him regarding bitcoin,lets wait and see whether we could hear more news from them in the future regarding bitcoin.