Biden and Cryoto

[Lorence.xD]

If we base crypto on the performance of a country then what is the point of it being decentralized in the first place. I do not think that a government administration would have that much influence in cryptocurrency unless it is a CBDC, the nearest thing that we can call an influence between crypto and government is coincidence.

[shinratensei_]

How do we speculate if bitcoin and crypto shall prosper under the Biden administration than it does under Trump administration.

What are your views?

We don't speculate about that as the impact that will be happened to the crypto is still remain unclear. It looks like that we must see what will be going by gensler as he was chosen to lead the transition team for financial policy. I guess the impact of crypto will be determined from Gensler's team.

I think that everyone can take a conclusion from the this

More recently, he has also testified before Congress about cryptocurrency and blockchain on multiple occasions, pushing back against comparisons between cryptocurrencies and Ponzi schemes and declaring that the still-unlaunched Libra token met the requirements of being a security under U.S. law. At an MIT conference two years ago, he opined that there was a “strong case” XRP (XRP, +1.98%), the cryptocurrency closely associated with startup Ripple, is a security. Gensler called blockchain technology a “change catalyst”

sources; https://www.coindesk.com/biden-confirms-gary-gensler-will-lead-financial-policy-transition-team

Imo if he's pros with crypto

[Pamadar]

If we base crypto on the performance of a country then what is the point of it being decentralized in the first place.

That's right! what's the sense of being decentralized if it's relying with someone's economy or we can call it leadership. Crypto industry
still eisting without any regualtions it's best to keep that way.

I do not think that a government administration would have that much influence in cryptocurrency unless it is a CBDC, the nearest thing that we can call an influence between crypto and government is coincidence.

Government needs to implement their own rulings wihtin their juriscitions outside there's nothing they can do about it.

As long as there's no threat to whoever leaders that be elected then everything will continue to move forward
and will succeed to coexist with other available digital currencies.

[Wulan_maniez]

Whoever becomes the 46th President of the United States now, whether Trump or Biden, they both can’t control decentralized Bitcoin.
Bitcoin doesn’t depend on who wins the election. Perhaps exactly if president Biden gives a loose and pro to Bitcoin,
the president becomes the driving factor for people to adopt bitcoin. If the president in a country is pro and supports bitcoin.
This will have a beneficial effect, as it could lower the concern factor in the digital asset market. In addition, there are many other positive effects.

[Gibreil]

How do we speculate if bitcoin and crypto shall prosper under the Biden administration than it does under Trump administration.

What are your views?

I can't see the participation of Biden administration in bitcoin development. If USA will just banned bitcoin for a purpose then we can't deal with that. After all, bitcoin will run eventhough who among them win in election. I am just happy for Biden and hoping that USA will grow under his administration. Regarding to bitcoin, it can stand still because it has many supporters around the world.

[bitzizzix]

I don't understand why crypto is always associated with things that are viral and political or whatever, because bitcoin growth doesn't look at anything and anyone and will continue to grow and develop as long as there is support from investors and so on.
but what I do know is a lot of Biden's success team are involved and pro with crypto, so we'll see what happens next about crypto and Biden.

[Emitdama]

How do we speculate if bitcoin and crypto shall prosper under the Biden administration than it does under Trump administration.

We shouldn’t be speculating, I think it is best we wait for him to enter the office and we will know what are his views on crypto. I have not seen anything about him talking about cryptocurrencies before, so I can’t just start speculating and making wrong statements that will possibly discourage a lot of people.

Let’s just hope that they don’t place more of these strict regulations that will tighten up everywhere and become a burden for cryptocurrency exchanges. And I also hope that they don’t pass some crazy laws that are going to discourage people and make them scared to buy cryptocurrencies.

[davis196]

How do we speculate if bitcoin and crypto shall prosper under the Biden administration than it does under Trump administration.

What are your views?

Bitcoin shouldn't depend on the mercy of any president,prime minister or politician from any country in the world in order to prosper.The Biden administration won't be that different from the Trump administration or the Obama administration,so there's no point of discussing such topic.
Just like the libertarian economists from the past have said "lesse fair"(I don't know french) or "let it be".
Bitcoin will prosper,if the politicians leave it alone and don't intervene inside the crypto industry..

[justdimin]

If it's about bitcoin adoption in the US then only Biden knows if he will adopt bitcoin in their country. If biden know about bitcoin but doesn't adopt bitcoin then it's another story.

The funny part with elections is that people often forget that Biden while elected as the president of the US bit that doesn't mean that he owns America. I mean they have a proper setup for each decision they take and it goes through multiple bodies before the president approves or denies it.

Yes bitcoins might be affected by a negative or positive stance towards bitcoins from the new president but I am quite sure that everything with bitcoins is going to remain same because they already have decent laws regarding it and no need to fix something that isn't broken. If even there is some impact it might be very minor and almost negligible because of the decentralized nature of bitcoins.

[ololajulo]

Cryptocurrency can do well without Government's influence, I even prefer government being silent on it but a policy in USA government againsts cryptocurrency can kill it. Asides China most big fund with high number of people in cryprocurrency is in the USA, ATM the whole world is still waiting for the $1 trillion palliative in USA to get into this space and pump the price a little. Dollar in USA matters here a lot, there are news of crypto investor's contribution in his campaign which will believe will make us safe under Biden.

[Mauser]

How do we speculate if bitcoin and crypto shall prosper under the Biden administration than it does under Trump administration.

We shouldn’t be speculating, I think it is best we wait for him to enter the office and we will know what are his views on crypto. I have not seen anything about him talking about cryptocurrencies before, so I can’t just start speculating and making wrong statements that will possibly discourage a lot of people.

Let’s just hope that they don’t place more of these strict regulations that will tighten up everywhere and become a burden for cryptocurrency exchanges. And I also hope that they don’t pass some crazy laws that are going to discourage people and make them scared to buy cryptocurrencies.

I don't think that more strict regulations will come from the Democrats now, usually the Democrats are more open minded than the Republicans. My bet is that Biden will try to revert some of the Trump policies from the last 4 years and be more open towards business area like the crypto world. I agree we shouldn't be speculating here too much, it's best to stay outside of the political world and hope for the best.

[Jating]

Cryptocurrency can do well without Government's influence, I even prefer government being silent on it but a policy in USA government againsts cryptocurrency can kill it. Asides China most big fund with high number of people in cryprocurrency is in the USA, ATM the whole world is still waiting for the $1 trillion palliative in USA to get into this space and pump the price a little. Dollar in USA matters here a lot, there are news of crypto investor's contribution in his campaign which will believe will make us safe under Biden.

If US government wanted to kill it, they have done it many years ago and not let bitcoin and crypto takes off specially in 2017 wherein it was really a boom, although they don't require their citizens to invest on ICO specially security token offerings. So that is the first big break that we have seen what US can do, file charges against those company.

Other than that, they remain bitcoin friendly, but with regulations in which exchanges like Binance follow, just to established a .US exchange. So we will see, but I have a feeling that nothing with change, US will remain in the grey area, but leaning towards a more crypto friendly nation.

[Haunebu]

I don't think any US president will announce that they favor cryptocurrencies over centralized currencies for obvious reasons which is why I doubt anything will change whether it is Biden or Trump.

The good thing is that their approval isn't everything. The cryptocurrency market will continue to survive no matter what and history proves that. We need to focus more on improving adoption of BTC, ETH etc as currencies.

[pankowri]

There are no massive effects of the US president in the crypto world. Because it is an independent and decentralize currency. It does not depend on any country, Satoshi establishes this platform for all the user's world base. But there can be some difficulty if Biden expects crypto-only in his county. Widely he can't stop crypto and change it's the direction of improvement.

[TopT3ns]

There are no massive effects of the US president in the crypto world. Because it is an independent and decentralize currency. It does not depend on any country, Satoshi establishes this platform for all the user's world base. But there can be some difficulty if Biden expects crypto-only in his county. Widely he can't stop crypto and change it's the direction of improvement.

I think this is still not because currently the US president is still relatively new so it takes time to adapt and of course I am very sure that one day Biden will start trying to make transactions more into digital currency and support the use of cryptocurrency in his country and can have a good impact against the price movement.

[Janation]

Why are we having these questions?

I don't think that the US has that much Bitcoin that could affect the current market that we have so even if Trump or Biden won, it will never be that positive or negative to affect the market. It would stay the same, the price is having great movements maybe because of the fact that there are some companies holding Bitcoin right now.

[nangthothan]

As far as I know BTC history has not been influenced by who is president. After covid took place, many economic industries were undergoing clear transformation. While some areas were hit very hard, BTC quietly increased. The decline in gold prices almost made me believe in a new high of BTC !

[shoreno]

How do we speculate if bitcoin and crypto shall prosper under the Biden administration than it does under Trump administration.

What are your views?

cryoto? = crypto? lol . you gotta edit your title . how do you normally speculate stuffs in crypto , theres no difference to that the way you speculate crypto and biden but at the moment its not really that possible because biden is just recently elected as a president and no work that has been done yet within this short period of time .

 calm down because the new pres is also calming down for a while , you know the election is verry hectic but i forseen that crypto can benefit better with his possesion than the previous

[DrG]

Obama largely ignored crypto or didn't know what it was. Trump has been relatively quiet regarding crypto, leaving IRS to basically treat it as property now instead of a equity. Biden probably doesn't know what it is either.

More important is what certain senators think such as that weasel Joe Manchin. He calls Bitcoin the gateway to terrorism and illicit drug use. Meanwhile he sat on the FDA committee which oversaw his daughter's company Mylan making the epi pen and the FDA did not allow generic competitors. You don't want this Joe whispering in the other Joe's ear...

[stompix]

It went up once

But it massively crashed twice during his presidency as well (to nearly 3k and 4k). So the net effect of his rule on Bitcoin prices remains to be evaluated and, most importantly, we should find out whether there is such an effect in the first place at all before we go any further

But what matters is the outcome, right?
That's the fun when you try to overlap things that have little to nothing in common.

Jumping from Trump to Obama the things get really really funny:
He started his presidency two weeks after the genesis block and ended his first term within at 20$.
Then in the second, he saw it go up to 1000 in the first year then drop the go close to the ATH.

So, his second term was way worse, but still a bit better than Trump, but following the trend, Biden would only bring an increase of a maximum of 5x during his term.

Why are we having these questions?
I don't think that the US has that much Bitcoin that could affect the current market that we have so even if Trump or Biden won, it will never be that positive or negative to affect the market.

Because the largest bitcoin company in terms of bitcoins in custody is in the US, because the largest funds that hold cryptos are from the US because most ATMs are in the US because most nodes are also there and in short that's where the money is.
And if the US changes its policy with a negative stance no good news from the other side will be able to cancel the negative effects.