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Nobody is saying that bitcoin is relying on some political campaigns to make headlines or saying that without political endorsement of bitcoin by politicians that bitcoin will not keep breaking new heights, and setting recordsAm sorry, I didn't address anything concerning Bitcoin hitting a new height or setting records. You might be responding to something very different from what I contributed to JJG's reply.
Incase you didn't go through my entire writeup, let me quote a summary of what I was trying to pass across.
The truth is, politics and Bitcoin are two different things that might not work in hand. My reason for saying this is because: Bitcoin happens to be very transparent and open. it is a system of decentralization where power belongs to everyone who is connected. This is unlike politics where power belongs to a certain group of people that categories themselves as same party members or dictators.
I am not motivated to invest in Bitcoin because a political candidate is showing interest or has made several promises. I am making my own investment for my own benefits.
I shouldn't be motivated to invest in Bitcoin just because a politician has it in mind. But Incase those campaign promises becomes true at the end of the day, then it's still for the betterment (benefits) of everyone.
No that's not the point, the picture I want you to see here is that bitcoin is gradually earning it's rightful place in the society, years ago there was nothing like politicians saying anything good about bitcoin, but today the story has changed, to the point that someone as big as Donald Trump is now building his political campaigns around bitcoin, saying some actual truth about bitcoin. Even though we can't actually be sure that he won't keep his promises if he wins the presidential election.
You have a point here. I don't know about you, but this shouldn't get me excited or motivate me more to invest in Bitcoin. My reason for making Bitcoin investment is because I understand its true potentials and the future benefits that I will be getting. At least I won't regret taking this part.
But I still stand on the ground that "Bitcoin and politics
might not work in hand".
Now, you've just stated that " Trump is saying some actual truth about bitcoin", which I agree with that fact, but would you expect him to tell a lie in the first place knowing he can also get support form the Bitcoin community?. He is telling the entire Bitcoin community what they need to hear. That's how politics plays, and that is how it has been playing. See, we are currently in 2024. The politicians we see today are up-to-date with the current happenings, and they are fully aware of what the people needs. All his saying are manifestos, and Bitcoin happens to be one of the strategies.
But it is a win situation to the bitcoin community because bitcoin is gaining more grounds, and people who has been less concerned about bitcoin in the past, are now showing interest. People who probably must have not heard about bitcoin are now becoming aware of it. So either ways bitcoin is not losing here, rather it is gaining!!
Yea. I think the term should be "creating more awareness". Even those who don't know how to use the internet are becoming aware just by listening to some of these Bitcoin related manifesto on the news.
But, my entire writeup was never about if politicians were creating awareness with Bitcoin or not. I am only trying to say that: a politicians interest in Bitcoin shouldn't be a motivation in making/continuing Bitcoin investment.
But I think I am done with the whole political thing, as I don't enjoy discussions based on that area.
And Morover politics/regulation has a big role to play too. Most countries today would have adopted bitcoin massively like El Salvador but due to government regulations and strick ban in bitcoin transaction has cause a decline in bitcoin adoption.
Permit me to join this conversation.
When you talk about adoption, I really don't get the point you are trying to make here.
Mind you, there are only two countries that has adopted Bitcoin as a legal tender, you might want to do the research for yourself. Now, you see, when something is declared a legal tender, adoption process becomes automatic. The people won't have any choice, as it's already accepted as a form of payment for debts and other stuff.
Now, you should also understand that there are other countries that didn't ban Bitcoin (i.e Bitcoin is legal). We can't really compare the adoption rate of Bitcoin in these countries to that of the two countries where it is legal tender. Some of the countries where Bitcoin is legal are US, France, Japan, France, Germany, Denmark, etc as far as I can remember. So you can see that, ban on Bitcoin isn't just the only thing that limits it's adoption, though there are adoption in these regions, but we can't compare them to that of the two countries where it is legal tender.
Just like Nigeria government delisted NGN from exchange shows that they have a role to play and even if they decide that all exchange should delist all Nigerian fiat P2P it will clamp down on all.
Even if the Nigerian Government remove the ban, we won't still get a fast and proper adoption, compare to when Bitcoin has been made a legal tender, and you should know by now that majority of the government won't consider that for the now, because they clearly don't understand how Bitcoin works and other excuses they might have.
Government has place ban on bitcoin transaction in many countries and that has decrease people's interest in bitcoin investment/adsorption. So how can you say politics and regulations has no role to play. Why is El Salvador popular today ? Isn't it because of government regulations and making it massive for all?
It's actually based on the fact that Bitcoin is a legal tender in El Salvador. I doubt if their regulations on Bitcoin are up to 10% of what the US government has implement. El Salvador now see Bitcoin as a regular type of money (but in digital form), so regulations on Bitcoin shouldn't be too different from that of their fiat currency (that's if they have any).
