Why president Donald trump is not a fan of bitcoin?

[marcbitcoins]

He don't like Bitcoin or the crypto currency market with many reasons and that his opinion but the good thing is that he will not be against Crypto that he will not ordered his administration to make Crypto disappear in the US. So life must goes on for crypto users then live and let live.

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[diahsw]

Donald Trump tweeted that “ He is not a fan of Bitcoin and other Cryptocurrencies, which are not money, & whose value is highly volatile and based on thin air”

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter & become subject to all Banking Regulations

What's the reason behind this criticize?

In the series, Donald Trump calls himself not a fan of Bitcoin and other cryptocurrency. He stated that cryptocurrency is not a currency and does not regulate which can facilitate legal renewal.
According to Trump "crypto currency, which is indeed not money, is highly volatile, and is not seen," Trump wrote on his Twitter account.
Trump said, crypto currency assets that cannot be used for various illegal things. Thus the digital currency line needs to be issued by US and global banking regulations if you want to become a "bank". Trump also said, the US only has one official currency called the US dollar. He also boasted that the currency was the most dominating currency in the world and reliable.

[bitbunnny]

No matter that he is a president he is at first place businessman and in general they don't like Bitcoin and cryptocurrencies. Except digital technologies enterpreneurs.
And even if Trump liked Bitcoin that wouldn't help im in any way, just the opposite.

[Broly46]

The world actually does give a damn. His tweets actually affect the stock market, albeit only on a limited scale:

https://www.businessinsider.sg/trump-marvel-china-tweet-stock-market-2019-5/?r=US&IR=T

It didn't seem to affect Bitcoin whatsoever though, which could be interpreted as something meaningful lol.

That’s hilarious to think how a tweet   can have any impact to the stock, I think market will take a while to digest the shocks, coming directly from potus, while indecisive.

i thought the whole point of libra was to avoid being regulated like a bank, since banking regulations are so draconian and financially onerous. aren't they just doing what tether or USDC did except on a permissioned blockchain? that's how they can offer zero-fee P2P payments and cheap merchant fees, because the system (beyond initial seed money) is funded off interest payments on their reserves.

Can’t rule out the possibility that they may want to regulate it, and by legalized it and imposing several unfair treatments in the agreement while compete with conventional banking regulations,

i think under current laws, they need to follow money transmission law but they aren't regulated as a financial institution. sounds like that may change soon. this is a bit worrisome because they could pass laws that start regulating crypto services like banks---not just libra. that's the implication i get from reading trump's tweet anyway.

I have no doubt they can regulate Libra, by rewriting the code, adding some back door etc, and it is the known issues with centralized currency, but it would be no easy way to regulate bitcoin, as many soft fork hard fork has failed to do so, the only way to control bitcoin is thru 51% attack, which is very difficult to achieve even for potus. May be more regulation to centralized exchanges?

[SuperTA]

“Giving attention” to crypto period, tells me it’s game on. 

https://bitcointalk.org/index.php?topic=5164459.msg51795453#msg51795453

[slashz9]

bitcoin is not a threat because the price is volatile and need stable like Tether while people not want to trade.but not for libra,its stable like fiat and can use for payment online/offline.
I think because Facebook has developed stable digital money if tether and the like are not a threat but Libra can be a threat to $ Fiat because Facebook collaborates with many projects so that its presence could be a threat to the dollar in the future.

[Pyr3x]

That's his personal opinion. But it looks like a manipulation on his part. The President is against, but there are many people who believe in bitcoin and cryptocurrencies. I doubt that because of his tweets people will stop believing in cryptocurrency

[Oilacris]

Donald Trump tweeted that “ He is not a fan of Bitcoin and other Cryptocurrencies, which are not money, & whose value is highly volatile and based on thin air”

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter & become subject to all Banking Regulations

What's the reason behind this criticize?

Its his personal opinion though and we wont know if its true or just telling negative things but he do actually accumulating some of it beind No one knows?

Basing on the tweet,you can really see his strong points towards crypto which is volatile and it doesnt matter if he doesnt like it yet we know on how big
the community was that supports btc.

[joshy23]

That's his personal opinion. But it looks like a manipulation on his part. The President is against, but there are many people who believe in bitcoin and cryptocurrencies. I doubt that because of his tweets people will stop believing in cryptocurrency

He's a businessman aside from being a President so for sure he's relying with how his business partners do understand this industry, but not because he have that impressions it will impacted in the whole maybe there's some portions of businesses that will follow him but there's the majorities of believers to continue following cryptos.

[betty11]

You won't blame the President, he the series of tweets, he defended the US dollar been a very popular and a strong currency of the world. Well he has a responsibility to defend what he was sworn in to defend, even though he may secretly be paying bitcoin. Only the people that allow the government to think for them, with the hope their lives will be better will only take The President expression serious.

Always understand that the government has a responsibility to control your financial freedom. Hence fight to making you a financial slave

[Eraldo Coil]

Saw the tweets just now. The only thing that I think somehow there's a point is that bitcoin can be used in illegal activities. Second he has a point on facebook becoming banks and they must follow the regulations given by the government since banks are centralized. The reason why I think he is not in favor of this is because the government can't get anything with decentralized coins. And he is not someone who is really interested in cryptocurrencies.

[unusualfacts30]

I just came from another thread brushing libra and bitcoin with same brush. He said nothing against bitcoin or crypto for that matter. Social media and him not getting along is one of the main reason for that post and it shouldn't concern anyone at least for now. He as anyone else has the right to have a personal opinion on everything including libr. We'll have to wait for more brief report to figure out what he really thinks and whether anyone should be concerned with this.

[ethereumhunter]

Donald Trump tweeted that “ He is not a fan of Bitcoin and other Cryptocurrencies, which are not money, & whose value is highly volatile and based on thin air”

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter & become subject to all Banking Regulations

What's the reason behind this criticize?

We don't know what is Trump reason because he doesn't tell the public what his mean. We only give statement or opinion related to his tweet. I think Trump doesn't think that bitcoin will stay for a long time and he says like that. But I am sure that there is a possibility for him to say like that and we don't have to think too serious with what he said.

[prehisto]

Donald Trump tweeted that “ He is not a fan of Bitcoin and other Cryptocurrencies, which are not money, & whose value is highly volatile and based on thin air”

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter & become subject to all Banking Regulations

What's the reason behind this criticize?

As always he does not know what he is talking about.
It is hard to understand what will be the consequences of Libra for crypto laws, negative or positive.
Even more because Libra is not a cryptocurrency.

[Bitcoinqubit]

Donald Trump tweeted that “ He is not a fan of Bitcoin and other Cryptocurrencies, which are not money, & whose value is highly volatile and based on thin air”

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter & become subject to all Banking Regulations

What's the reason behind this criticize?

he is billionaire in paper money and you know that crypto is like uber for taxi, if it was not enemy to paper money he will say its great tech and other great things,

because in reality when new tech disrupt the space you cannot say it not great or bad, but here its great tech and its put out of the chain the govermnet

[bkbirge]

... the only way to control bitcoin is thru 51% attack, which is very difficult to achieve even for potus. May be more regulation to centralized exchanges?

I agree and I suspect the regulatory efforts will be initially directed towards exchanges. They will attack the fiat to btc bridges and essentially cutoff law abiding citizens from practical access. Or they will try to anyway.

[Bitcoinqubit]

Donald Trump tweeted that “ He is not a fan of Bitcoin and other Cryptocurrencies, which are not money, & whose value is highly volatile and based on thin air”

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter & become subject to all Banking Regulations

What's the reason behind this criticize?

simple question prateek but the reality almost no body can give normal answer as some of them even ask why he tweet this hhhhhhhhhhhhhhhhhhhh

its like to ask why taxi hate uber hhhhhhh

its put out of the chain the governments,   who behind usd ? politicians the same with euro and other out there,

and people here ask why trump not support bitcoin, its like to ask why taxis hate uber...

[Bitcoinqubit]

Because he is a president of "dollar" and businessman who needs a dollar.crypto is a threat for him.pathetic but fact.

true logic statement al last one here answer it right

[Bikramjit0007]

Everyone FUDs before they buy.

[Reid]

Is he mad with Suckerberg too?
I mean, you wont have that sudden kind of idea with bitcoin and cyrpto currencies without something getting the heat up.
There is fire now.
Thank you Mark for doing that. Now it is going to be bitcoin up and Libra still 1:1.

Well Donald Trump is not the world. He is United States where almost everything which connects with crypto currency is not allowed. So better just ignore it.
Plus, half of United States doesn't like him.