Ex-Trump Advisor Steve Bannon: ‘Global Populist Revolt’ Helps Crypto

[erricducducan26]

Steve Bannon, former Trump staffer and head of conservative news site Breitbart, said cryptocurrencies “have a big future” due to the current geopolitical atmosphere.

“ think they could be a very important part going forward particularly in this global populist revolt,” Bannon said.

Echoing Trump, Bannon said the Federal Reserve’s monetary policy has been too tight and that cryptocurrencies present a meaningful alternative to fiat-based investments.

When asked about Facebook’s digital currency project Libra, Bannon said it will not find friends in the banking community.

“The central banks and actually the banking community want to get in and regulate crypto. They want to still stick to fiat currency,” he said on CNBC’s Squawk Box.

The development of alternative payment rails like Libra presents a challenge to the dollar’s reserve currency status.
https://www.coindesk.com/former-trump-adviser-steve-bannon-global-populist-revolt-only-helps-crypto

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[timerland]

It's great to see more, pretty influential people interested in crypto. Always a good thing to see. I don't know a lot about the person, but from the little research I did on him, he seems fairly big and agrees with a lot of views I have.

His company and he are also invested in crypto, so it isn't all talk - https://www.nytimes.com/2018/06/14/technology/steve-bannon-bitcoin.html

“The central banks and actually the banking community want to get in and regulate crypto. They want to still stick to fiat currency,” he said on CNBC’s Squawk Box.

This is fairly well known most people in crypto I reckon. I am estimating a lot of banks and governments look to "centralize" Bitcoin - which is possible if they own enough and then where able to control price plummets and climbs. It's not really regulation at that point, it's killing the coin of it's unique features, and using the technology and platform it's based on to create a new payment system.

Banks want everything to be centralized and fiat-based. The best way to make this happen is if BTC became very stable or became centralized and able to control.

[LMBDA]

I don't know about him that much but i hope he actually wants to be part of the cryptocurrency field and not just taking revenge on trump.

[Kakmakr]

Steve Bannon was just one of the Crypto currency friendly staff that was linked to Donald Trump at the start of his campaign, but those voices has gone silent as the President went into office. We thought those people would be at the tip of the spear, fighting for Crypto currencies, but they just dissapeared into the shadows, protecting their own jobs. 

So, election talks and promises just boils down to a lot of bullshit to gather votes. Once they get into their high paying jobs, they quickly go with the flow to retain those salaries. 

[hugeblack]

I think what is being said is realistic and may be right. Cryptocurrencies have become an acceptable alternative to traditional investments after they have proven their efficiency over the past years and the advantages they offer.
We may differ in that it is a profitable investment, but it has become a reality that countries must deal with it with more wisely by imposing legislative laws to regulate the market.

With regard to Libra, it is different as success will pave the way for big corporations (Amazon, Google,..etc) to set up their coins, which would pose a threat to the global financial system.

[avikz]

When asked about Facebook’s digital currency project Libra, Bannon said it will not find friends in the banking community.

“The central banks and actually the banking community want to get in and regulate crypto. They want to still stick to fiat currency,” he said on CNBC’s Squawk Box.

Spot on!! I just want to add that Facebook will not find friends in the majority of the administration as well!! Facebook will have to push the government to define their crypto Libra in a different way that it does not look like a threat to the Banking controlled economy!

I see a lot of thrrad where people say out their bullish thinking towards Bitcoin and cryptos. I usually ignore those bullishness but this particular news holds something of significance. When the close aids of the world's most powerful person talks bullish about bitcoin, it becomes significantly important!!

[Baby Dragon]

I think what is being said is realistic and may be right. Cryptocurrencies have become an acceptable alternative to traditional investments after they have proven their efficiency over the past years and the advantages they offer.
We may differ in that it is a profitable investment, but it has become a reality that countries must deal with it with more wisely by imposing legislative laws to regulate the market.

With regard to Libra, it is different as success will pave the way for big corporations (Amazon, Google,..etc) to set up their coins, which would pose a threat to the global financial system.

We can clearly see that it is much better to invest with crypto, it has a great big future. Crypto was able to give different opportunities and benefits to us and I think it will be the reason why it will stand for a long time. Like no matter what they do, it will continue and do it's specific purpose.

[Jating]

Steve Bannon was just one of the Crypto currency friendly staff that was linked to Donald Trump at the start of his campaign, but those voices has gone silent as the President went into office. We thought those people would be at the tip of the spear, fighting for Crypto currencies, but they just dissapeared into the shadows, protecting their own jobs. 

Correct, right after Trump's took office, he surrounded himself with pro-crypto personalities and we all thought that we are in the good hands. Unfortunately, it didn't happen but I'm sure they pitch bitcoin at least once to the President but he doesn't like it, so what do you expect?

But it's good to hear people in the position saying positive things about crypto and who knows, he could be right because he see things that we average Joe's doesn't have any idea to begin with.

[pooya87]

I think what is being said is realistic and may be right. Cryptocurrencies have become an acceptable alternative to traditional investments after they have proven their efficiency over the past years and the advantages they offer.
We may differ in that it is a profitable investment, but it has become a reality that countries must deal with it with more wisely by imposing legislative laws to regulate the market.

With regard to Libra, it is different as success will pave the way for big corporations (Amazon, Google,..etc) to set up their coins, which would pose a threat to the global financial system.

We can clearly see that it is much better to invest with crypto, it has a great big future. Crypto was able to give different opportunities and benefits to us and I think it will be the reason why it will stand for a long time. Like no matter what they do, it will continue and do it's specific purpose.

well you are talking about bitcoin not "crypto" in general. so you can't really expand it to them. as we have seen majority of altcoins are completely useless so there really isn't any future for them, not to mention that they are not solving anything. as for Libra that was mentioned in OP, that is just another centralized payment system that should not even be mentioned in the same place as decentralized systems such as bitcoin.

[marcbitcoins]

So he is a crypto supporter so hopefully Mr.Trump will be able to see this too of how Bitcoin helps a lot of US Citizens on their everyday living that like JP Morgan and the other former critics which are now fully supporting Bitcoin because they are wrong on their first impression too that Bitcoin is not a tool to help the economy.

[romero121]

What Bannon said is the reality of the cryptocurrency as well as the monetary policies backed fiat currencies. He perfectly cited how fiat currency is taking away the financial freedom of the common people. When there is freedom people easily move towards it, and here this space is getting fulfilled by the cryptocurrency as the alternate gateway.

Talking about Libra, he mentioned that it will be a challenge to the dollar's reserve currency status. This means Facebook keeps track of each and every activity of an user. Along with the same it gives every support essential through the libra, and this will enrich the usage of libra on all needs eliminating the usage of dollars. This affects the economy indirectly.

[Tonteus]

Trump wants to get money from every crypto transaction, and since he doesn't get it that's why he treats the crypto industry this way

[lobat999]

Steve Bannon's comment on "Global Populist Revolt" only asserts the idea that indeed, people are getting tired of the status quo and now its
high time that people should define their destiny! I guess more catalyst events will occur in the near future and should make people closer
to crypto.

[CryptoBry]

It is refreshing to hear a good view on cryptocurrency coming from a guy who was once in the trust circle of that man in the White House. I think Steve here is a big believe of Bitcoin and cryptocurrency in general and the things that this platform is representing as he is also a holder or investor. Let's see how the things he just said can start to materialize especially in the global scene. I think it would be safe to assume that there are other personalities of clout and influence bearing the same conviction on cryptocurrency and many of them are just keeping silent.

[Leonardo7]

This is consolidating. It seems they can't really voice it when still holding political portfolio,  so as to serve their masters and the banking industry Mafias. Well, we all know the politicians love cryptocurrencies, but their only problem is just how to control it, which is out of their reach.

[bitgolden]

This is consolidating. It seems they can't really voice it when still holding political portfolio,  so as to serve their masters and the banking industry Mafias. Well, we all know the politicians love cryptocurrencies, but their only problem is just how to control it, which is out of their reach.

It is consolidating but I wouldn't trust them a little, look at what china is doing, they have supported cryptocurrency but they are creating their own, which we all know that it can never be a decentralized coins, it would be purely built on centralized system which has totally defeated the objective of satoshi for creating bitcoin.

So, seeing them kind of supporting cryptocurrency now Is because they have seen that they can also create one for themselves without having to depend on bitcoin. If he had told us that there is future for bitcoin, then I would have said they mean business and they are ready to accept cryptocurrency, but if they are thinking towards following what chain is doing, I am not sure that will be good for crypto space at all.

[cr1776]

Libra is a different beast. It's not decentralized and not censorship resistant.  Crypto is important because it takes power away from self-appointed power-hungry people and gives it to the regular people making it harder to take from them by force.  It's about freedom versus control. Authoritarianism versus liberty.

[Nadziratel]

Libra is a different beast. It's not decentralized and not censorship resistant.  Crypto is important because it takes power away from self-appointed power-hungry people and gives it to the regular people making it harder to take from them by force.  It's about freedom versus control. Authoritarianism versus liberty.

As we saw in the Libra, people are still more prone to Authoritarianism. People, while Bitcoin stands here, are just looking for different ways to make a profit. I think proof of this is the choice of "central" currencies like Ripple, Libra, and the fact that CEXs like Binance are still popular. Everyone rely on Centralized world still.