Is it possibleTrump Will Prohibit Bitcoin?

[Agios]

President Trump's attitude, which tends to be anti-Bitcoin, has raised the discourse that he could forbid the ownership of Bitcoin for citizens of the United States (US) in the future.

This discourse is based on two possibilities, namely Trump's tweet in 2019, that Trump is not a Bitcoin lover and second is a recognition of Trump's similar attitude, as stated in the book by John Bolton, a former White House security adviser.

Responding to the discourse of a possible ban on Bitcoin ownership, many people say the most likely action is an aggressive step by the government in dealing with laundering crimes related to Bitcoin and other crypto assets. Direct banning seems impossible, because Bitcoin is practically outside the structure of the country.

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[gentlemand]

Every day that more big hitter money goes into it makes it less likely. And Trump has rather bigger things on his plate than that, getting beyond November is one of them.

There's lots of things a few politicians don't like. That's a large leap to a whole administration doing anything about it.

I watched all of the congressional talk things about Facebookcoin. It was clear that many of them were aware that driving proper cryptocurrencies out of America could cost them big time in the long run.

[bitmover]

He could prohibit,  but he cant prevent people from making transactions.

Additionally,  I doubt governments can win a battle against technology advances. It is better to work with new techs, which will.increase governments revenue and create new jobs.

[Slow death]

Trump already has years as president and if he really wanted to ban bitcoin he would have banned it a long time ago. Politicians (at least most) seem to ignore this issue of banning bitcoin because they don't know bitcoin very well and because there are still no cases of being very alarming when it comes to using bitcoin for money laundering, at least when compared to Fiat . With the technological revolution that exists in the world, politicians are also able to perceive things that are beneficial and instead of banning bitcoin they can simply create laws that can be more beneficial for everyone

[DoubleEdgeEX]

Don´t listen what he says, watch what he does. He can´t prohibit Bitcoin and it would not make any sense to even try. He is saber-rattling but that´s say anything. Too many big players from the USA have already entered the market to ignore or fight it. Goldman is another case of talking this and doing that, it just seem to be common courtesy

[avikz]

President Trump's attitude, which tends to be anti-Bitcoin, has raised the discourse that he could forbid the ownership of Bitcoin for citizens of the United States (US) in the future.

This discourse is based on two possibilities, namely Trump's tweet in 2019, that Trump is not a Bitcoin lover and second is a recognition of Trump's similar attitude, as stated in the book by John Bolton, a former White House security adviser.

Responding to the discourse of a possible ban on Bitcoin ownership, many people say the most likely action is an aggressive step by the government in dealing with laundering crimes related to Bitcoin and other crypto assets. Direct banning seems impossible, because Bitcoin is practically outside the structure of the country.

If he had to ban bitcoin, he would have done it already. Now with few months left to his term, it seems highly unlikely to happen. US is a progressive country so from that perspective as well, I don't see a chance for any president to ban cryptocurrency in totality.

Yes, there may be new laws framed to curb illegal usage of cryptocurrency but blanket bank is not possible. Technically it's not possible as well as bitcoin is nowhere controlled by any single authority.

[coolcoinz]

Weren't some of his advisors Bitcoin supporters?
It's funny how people's attitude can change over the years. I remember when Trump was being elected and people were enthusiastic because "he's a businessman, he'll understand economy and be open to new technologies and he surrounds himself with investors and traders".
Imagine the headlines if he did it: "The land of the free trying to block the flow of money from physical to digital. Is Trump afraid of Bitcoin weakening the Dollar?"

[LeGaulois]

Trump is dumb enough to do it but who cares. We, or Americans, don't need him or his approval. The time he seriously starts to think about it he won't be POTUS anymore. How many he has left? 2 years? He has more important priorities to think about for the next elections. MAGA didn't happen, Americans will say No to Trump a second time.

Even if the day happens, do you think they will monitor every US computer to check if there is a Bitcoin wallet installed in? Or come et home to see if there is a Ledger? At worst they could monitor bank transactions, watching for bank transfer coming from exchange platforms. But it won't be efficient as it's supposed to be. Americans will still so many other ways to use cryptocurrencies

[dothebeats]

I honestly doubt it. If there's anything that Trump would do at this moment is to be friendly on cryptocurrencies as it might help secure him yet another term in November, though the possibility of that happening is very slim. With America getting grabbed by the puss* every day, the POTUS would need to think yet another scheme to make the Americans befall to his tactics once more, and with that I doubt that there's any room for Trump to even think about bitcoin at this point in time. It is possible but improbable at this current time.

[ChiBitCTy]

It's not up to Donald Trump.  He may be the President of the United States of America but he does not rule with complete authority.  Governors of each state have technically more authority of their own states then has, for examples.  The Secretary of The Treasury is more so whom we need to be worried about at the moment.

Please note: https://www.bloomberg.com/news/articles/2020-02-12/cryptoasset-rules-set-for-release-by-trump-administration

[carlfebz2]

These are still fresh news that might connect.  

https://fortune.com/2020/06/22/john-bolton-book-trump-bitcoin-room-where-it-happened/
https://www.forbes.com/sites/coryjohnson/2020/06/21/trump-supports-chinese-bitcoin/#16017d505fec

When talking about prohibition then its possible but the question is, would it give out big impact? yes it can but wont really
be that severe we know that each country do have its own jurisdiction and wont be completely be influenced just because of
other leaders do able to do so.

[Harlot]

Looking at the latest article made by Forbes you will see that they have created an angle towards a conspiracy that China is indeed controlling Bitcoin which we all know is not true anymore ever since China didn't show any kind of support for the crypto mining industry in there country. So with this news it feels like they are just creating a reason to have a legal framework to either boost the crypto presence in the United States or outright ban it because of it's relation with China.

[Rengga Jati]

Trump, it has been several times this person always says so. He is against really Bitcoin. However, his statement is only his statement. It may affect the Bitcoin price, but nowadays, many people are smart and will not be affected by only his saying. And as we know, the decision of Bitcoin prohibition is not only based on the Trump decision, right? It should be regulated in the country, shouldn't it? I think that the US will really consider and think twice about it, considering the positive and negative impacts of the prohibition. Additionally, currently, the country is facing something big about racism incident and the societies are likely not putting the truth again to the government. Will they add the problem to it right now?

For me personally, I love Bitcoin and I see more advantages of BTC than its disadvantages. But, for the people with big particular behalf, it will be a big matter that should be eliminated in order to make them always powerful and not competed.

[LogitechMouse]

Base on this statistics (posted on 2019): LINK

Cryptocurrency ownership by country:

1. Turkey 18%
2. Romania 12%
3. Poland 11%
4. Spain 10%
5. Czech Republic 9%
6. USA 8%

U.S is 6th in the world where they are owning cryptocurrency. That 8% might be a small number but prohibiting this 8% from using Bitcoin will still have an effect in Bitcoin. I don't think that Trump will do it but if he will do it then I just hope that it will have the same effect as when China did in 2017 where it spiked more and more .

[Zemomtum]

He can prohibit only within his jurisdiction. The universe is bigger than him. Moreso, Bitcoin is unstoppable. he can not stop anyone from making the transaction as their some tools that can be used to shield the source of transactions. The government are just trying to stop the unstoppable, the earlier they realized. the better

[Kemarit]

President Trump's attitude, which tends to be anti-Bitcoin, has raised the discourse that he could forbid the ownership of Bitcoin for citizens of the United States (US) in the future.

This discourse is based on two possibilities, namely Trump's tweet in 2019, that Trump is not a Bitcoin lover and second is a recognition of Trump's similar attitude, as stated in the book by John Bolton, a former White House security adviser.

If he is anti-Bitcoin, then Trump have already issue the hammer ban already. But he didn't and just completely trolling everyone with his tweet, I would say just ignore it.

Responding to the discourse of a possible ban on Bitcoin ownership, many people say the most likely action is an aggressive step by the government in dealing with laundering crimes related to Bitcoin and other crypto assets. Direct banning seems impossible, because Bitcoin is practically outside the structure of the country.

Again, Bitcoin ownership doesn't pose a threat, they should look and trace fiat money because that's the majority of money laundering, terrorism fund are coming from. And going by your argument, if they ban Bitcoin will mean less money laundering? No, so I don't think that it is Trump's priority right now. He should be looking at the current unemployment rate and how US economy will recover because of the pandemic effect.

[Anonylz]

Maybe after the elections and won the second tenure he would probably re-visit the topic, Trump has always made his opinion about btc very clear to the public so I won't be surprised when that time comes he decided to take such decision as to forbid US citizens from engaging in anything relating to btc or crypto,

Well this is news for the near future, nobody can tell what he will actually do, although they say actions speaks louder than voice and his actions towards btc has always been harsh even though it doesn't make any sense why, I feel for the US citizens though, there is nothing they can do than to accept whatever will be the outcome.

[yazher]

At this time, he needs to think about the situation of the US citizen since they hold the largest number of infected people all around the world by this pandemic. The thing is, he have some more problems to come because the US election needs to have his attention since he wants to run again for President of the United States of America. He needs to have some good image no matter what happens and thinking to prohibit Bitcoin now is not a good idea for someone who wants to re-elected as President.

[Lucius]

If such a ban really does occur (and the possibility always exists) then the implications are much bigger and more serious than it means banning transactions that are actually impossible to control, but banning the largest crypto exchange Coinbase and all major crypto companies located in the USA. Far from such a decision would completely destroy Bitcoin, but it is an indisputable fact that a good part of the world behaves very submissively towards the decisions made by American politics.

Any ban on Bitcoin in the US would have global implications around the world, especially in those countries that blindly comply with orders coming from Washington. While some think the Trump era is over in the next presidential election, I don’t see a single opponent who has a realistic chance of replacing him. But Trump should not be seen only in a negative light when it comes to Bitcoin - he can very easily change his mind if people around him are pro-Bitcoin enough.

[davis196]

President Trump's attitude, which tends to be anti-Bitcoin, has raised the discourse that he could forbid the ownership of Bitcoin for citizens of the United States (US) in the future.

This discourse is based on two possibilities, namely Trump's tweet in 2019, that Trump is not a Bitcoin lover and second is a recognition of Trump's similar attitude, as stated in the book by John Bolton, a former White House security adviser.

Responding to the discourse of a possible ban on Bitcoin ownership, many people say the most likely action is an aggressive step by the government in dealing with laundering crimes related to Bitcoin and other crypto assets. Direct banning seems impossible, because Bitcoin is practically outside the structure of the country.

That's not true.The US government can ban crypto trading and mining.It doesn't matter if Bitcoin is "outside the country".HODLing,trading and mining can become illegal.However,I think that the US supreme court can appeal such ban.
Anyway,Bitcoin isn't Trump's biggest problem and I don't think that he really cares about cryptocurrencies at all.The next presidential election is coming,so he will try to get more support,instead of creating more enemies.