Is it possibleTrump Will Prohibit Bitcoin?

[Swordsoffreedom]

Trump is such a crazy guy; he can do anything whatever he wants. He can prohibit Bitcoin, but I don't think he will do this kind of things. You know there are a lot of investor in Bitcoin market from America. Even if trump will prohibit Bitcoin, I don't think there will be a huge loss of Bitcoin. maybe the price of BTC can go down a bit. but in a few days the situation will return to normal.  on the other hand, if Trump ban Bitcoin, people will find out alternative way to use BTC and invest on it.

[yhiaali3]

Of course a man like Trump will not be able to influence Bitcoin, I also heard that he ordered the Treasury Secretary to pursue and race Bitcoin as John Bolton mentioned in his book, Trump has sparked a lot of riots in the world and has taken many wrong continents not only about Bitcoin but about many other issues. Bitcoin has overcome many difficulties, but it has overcome all of this and has proven to be the most powerful of all. I think Trump's comments will have no effect on Bitcoin.

[serjent05]

I don't think Bitcoin is the main concern of Trump as of now.  There is far bigger problem that he has to face and more urgent concern he needs to attend.  Like the Pandemic, the upcoming election and the Civil unrest caused by the current situation of America.  Besides, if he is planning to prohibit Bitcoin, he could have done it in his early years.  Imagine how easy he removed the US support on the WHO because he was not satisfied with their performance.  Prohibiting Bitcoin in the USA would be as easy as that if Trump wanted to.

[spike420211]

Theoretically, locally, it is quite possible if Trump bans Bitcoin within the United States, but will he benefit from this?

Indeed, in this case, China can fully approve bitcoin, which is likely to raise the demand for it to a new level. What will Tram do then?

After all, Russia can also follow China, and then the rules of the new Cold War will not be imposed by the United States.

[Shasha80]

President Trump does have a negative attitude towards bitcoin, but that doesn't mean bitcoin ownership is banned. And there are
still many matters for President Trump is far more important with regard to the American state, such as overcoming the spread of
the corona virus, the widespread demonstration of racism, and economic competition with China. I am sure that for President Trump
it is not an important matter to take care of bitcoin right now.

[Yamifoud]

Politics and the leaders are of really a big influence on the market. Think that of Trump will prohibit Bitcoin, it surely he makes a push on it but I was hoping he can't think of it but rather to give support otherwise, we do nothing.

If these developing countries will ban Bitcoin it surely has a huge impact on the price trend just like what it happens the banning sentiment of China in previous years.

This chart is was taken last year, 1 year past and therefore, we can expect an increase in these numbers. Although the users from the US aren't that big but then, it could also affect the market.

[Twinkledoe]

President Trump does have a negative attitude towards bitcoin, but that doesn't mean bitcoin ownership is banned. And there are
still many matters for President Trump is far more important with regard to the American state, such as overcoming the spread of
the corona virus, the widespread demonstration of racism, and economic competition with China. I am sure that for President Trump
it is not an important matter to take care of bitcoin right now.

Yes, I don't think banning bitcoin or crypto will be in his priority list. As other advanced countries are legalizing the use of crypto, why would US want the other way? I believe instead of banning, he will make it legal so they can regulate better these blockchain projects.

[joinfree]

Donald Trump can't prohibit bitcoin but maybe he can put in some laws that will make using bitcoin come along with some taxes and charges. these taxes may be very high discouraging people from using it but i don't think he can ever ban bitcoin

[Hydrogen]

Trump's source for promoting hydroxychloroquine as a corona virus treatment appears to have been Elon Musk. We can hope Trump retains Elon Musk in an advisory role when drafting future financial and economic policy involving bitcoin. Elon Musk, Virgin Galactic and other space start ups have commented positively on bitcoin and crypto currencies. We can hope their knowledge will eventually trickle down to older generations like Trump where it may be needed the most.

Trump has indicated he will work within the system by making some of the same appointments to positions like treasury secretary a democrat like Hillary would likely have followed. Whatever policy Trump decides to pursue may be determined by factors outside his control.

[Sadlife]

The more the US government push Bitcoin away the more people gets into it.
There's no sense prohibiting Bitcoin usage because it has no central control it's purely decentralize, people can always find workarounds to use it and become undetected. They'll soon realize that its futile to put restrictions in Bitcoin.

[Debonaire217]

Trump's attitude is kind of weird especially on how he treats different situations, he's doesn't care what one would feel and how it would impact a community as long as it's against to his standards. If he will be convinced enough that bitcoin is not helpful to the country, I think there's a possibility for him to ban it through statements only because bitcoin will still be accessible. What he can just do is to discourage his people from using it. But those who really into bitcoin already will always have their way to transact.

But for now, it seems that bitcoin's foundation in US is strong as I can see, there's still so many people advertising bitcoin in Youtube, and social media without restriction.

[bobitza]

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.

The president has the right to issue an embargo. Bitcoin is in fact not accepted by governments of some countries. Because of the higher risk, criminals take advantage of investing in cryptocurrencies to do illegal acts such as gambling, money laundering, smuggling ... But if bitcoin is embargoed in the United States then the price of bitcoin will plummet. Because this is a country with strong economic development.

[Lucius]

If bitcoin becomes illegal in USA i think it only will get a higher price. Is it like marijuana, when does it have a higher price? When it was illegal or now when it's legal?

That doesn't make much sense to me, for the reasons I've already written in my previous post. Because if we consider that this is a country that is very aggressive in imposing its rules on the rest of the world, then imagine what implications a ban on Bitcoin would have on the rest of the world? Take the example of sanctions imposed by the USA on Iran or Russia, and how most countries in the world had to do the same or bear the consequences of not doing the same.

We all know that Bitcoin trading is officially banned in China, and if that happened in the USA I don't see how it would increase the price because trading would definitely decrease due to the removal from the equation of 300+ million potential traders. Bitcoin as something illegal can only go underground, and then we don't even need to think about any adaptation of large institutional investors.

[CoinFoxs]

I think if he really wanted to ban cryptocurrency from USA he could have done it already but now it does not seem to be happening. He believes that cryptocurrency is highly volatile and unregulated crypto assets can clear the way for unlawful behavior which includes drug trade and other illegal activities. But I personally don't think crypto will be banned from US.

[ethereumhunter]

Let's have positive thinking that bitcoin is not going to get ban by the USA government or another government, but bitcoin will be more popular than today. The government itself will realize what the benefit of bitcoin for their people is, and although it is hard for the government to control the bitcoin, at least, their people can try to make money from crypto. If their people can do that, that can reduce unemployment in their country or another country, helping people have another source of income.

[CarnagexD]

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.

Yes, that pretty accurate. He can stop the movement of bitcoin as there are a lot of transactions that are happening in the market. We all know that Trump hates everything, he don't want to mind his own business. There are a lot of issues that he should focus on, just like this pandemic and probably if he prohibit bitcoin, that's the time that their economy will become much worse. Governments should rely on the advancement of technology because that will help their country and economy to improve. Trump should think twice before doing that, he should make a way on the promotion of bitcoin instead of prohibiting it because that is a huge advantage for them if he make people do transactions freely.

[dcybergeek]

In times of National Crisis anything is possible. He could pump it and dump it constantly to make unstable to be used as a currency, but even over time that would fail when the US Dollar and all currencies get printed to absolutely nothing.

[Benefactor]

I don't think President Trump's will do anything like that. If he had wanted to do something like that, he could have done it long ago. A large part of the people of his country are involved with online. Now many people are involved with Bitcoin and many people have invested huge amount of money in Bitcoin. In such a situation banning Bitcoin will cause huge loss of money. On the other hand, they are aware of the benefits of bitcoin. So for now, it doesn't look like President Trump will ban bitcoin for his country.

[daneal stev]

Yes, Trump can ban the use of cryptocurrencies completely within the United States, but he can never prevent people from using cryptocurrencies and completing transactions, and I do not know why Trump and other heads of state are fighting cryptocurrencies and related technology I hope that the use of cryptocurrencies will be allowed in various parts of the world

[7788bitcoin]

I don't think President Trump's will do anything like that. If he had wanted to do something like that, he could have done it long ago. A large part of the people of his country are involved with online. Now many people are involved with Bitcoin and many people have invested huge amount of money in Bitcoin. In such a situation banning Bitcoin will cause huge loss of money. On the other hand, they are aware of the benefits of bitcoin. So for now, it doesn't look like President Trump will ban bitcoin for his country.

As long as the authorities are able to control the market then they will not think about banning the entire market and even if they want the market has grown to more than $150 billion and there are many companies running their business and it is highly unlikely we will see a blanket ban, they are not banning the market because of the benefits of bitcoin but they know very well that they are not able to ban the market completely.