How much damage can the Trump administration do to Bitcoin?

[Bergkampsballs]

Hi,

I was just wondering what you think about the recent crash, how it relates to the rumours about government regulations in America and what actions you will be taking over the coming months if strict regulations are announced?

Is it time to pull our money out of Crypto for now while we wait and see what regulations are going to be announced?

https://cryptonews.net/423856/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

[1714983009]

1714983009

[aesma]

The Chinese government has tried this without success. What hope does the US government have then ?

Besides, there is basically no government at the moment in the US, so it's not really the time to worry !

[milewilda]

Why people are really fan on connecting dots which arent supposedly to be relevant at all? No government or administration will affect or would able to do something to Bitcoin.
Just like on what had mentioned that imagine on how Chinese government did really make such attempt but they did fail. Bitcoin is too big to fail and to be controlled even
though it might be connected into some fundamentals or news or happenings but doesnt mean that it will completely be controlled by it.

[Bergkampsballs]

Besides, there is basically no government at the moment in the US, so it's not really the time to worry !

Yeah, that's a fair point, I hope you are right but I was a bit concerned as I don't think that this would be too high up on Joe Biden's list of Trump policies that he wants to reverse.

Why people are really fan on connecting dots which arent supposedly to be relevant at all? No government or administration will affect or would able to do something to Bitcoin.
Just like on what had mentioned that imagine on how Chinese government did really make such attempt but they did fail. Bitcoin is too big to fail and to be controlled even
though it might be connected into some fundamentals or news or happenings but doesnt mean that it will completely be controlled by it.

I am new to investing in crypto and my understanding from posting on this board is that government rules (particularly those in America and China) are possibly the biggest threat to the price of Bitcoin at the moment. I had most of my profits wiped last night so I am maybe being a bit overly concerned but I want to ensure that I'm making the best decisions which is why I made this post to see what other people thought of the potential damage that could be done if the Trump administration decide that they want to rush in some policies that will cause damage to cryptocurrencies before they leave.

[mindrust]

Trump or not, sooner or later, one way or another, Crypto will be regulated.

Right now USDT and Bitcoin is a parallel banking system and what makes you think USA -which is very obsessive and paranoiac with their currency- would let people do their transactions freely without getting monitored?

What about monero?

What about it? If they regulate the exchanges and close the FIAT gates, it is done too.

The exchanges are the FIAT gates and whoever controls those gates also controls crypto.

We can always trade OTC?

Look what they did to localbitcoins...

What about real OTC, face to face?

Probably dangerous.

[Wysi]

Just one bad day and we have so many people coming up with numerous reason predicting the drop in the value of Bitcoin, we should not be concerned about what government of any country since they don't control Bitcoin and moreover even if US government try imposing more restrictions they will eventually fail like thier rival China who tried to set as many obstacles as possible but they failed miserably. Let's think about making most of it rather than worrying about it and also gear up for more such FUDS.

[Kemarit]

Hi,

I was just wondering what you think about the recent crash, how it relates to the rumours about government regulations in America and what actions you will be taking over the coming months if strict regulations are announced?

Doesn't make sense though, it's just a rumor. I guess I won't do anything even if there is this so called regulations in the coming months. I think the dump may have cause by Bitcoin just in the oversold zone and that $19,500 is a big wall that we can't break for now. It has nothing to do with any rumor or something.

Is it time to pull our money out of Crypto for now while we wait and see what regulations are going to be announced?

https://cryptonews.net/423856/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

And why would someone do that? We have seen the worst and yet Bitcoin and crypto is here to stay. And I don't think that Trump last policies will have Bitcoin in it, LOL. Does it mean that he wants to bring down crypto with him?

[btctaipei]

BTC are antifragile -
for more than a decade:
the more you tries to control it, and more you help to proliferates.

For any entity in power I think it is best to leave it alone.

[hatshepsut93]

I think the most worrying thing is that whatever Trump's administration will do at this point to crypto, will be left at this state for years, because Biden's administration will have so much to do now, with coronavirus, foreign policy, internal problems and so on - they won't have time for crypto. Hopefully they won't have enough time to make any dramatic regulations, or maybe these rumors that come from Coinbase's CEO are simply false and there's nothing to worry here.

[cryptopediabd]

It's not kindda like that because bitcoin sudden pumped was happened for PayPal cryptocurrency regulation. They buyed all minted btc. And price dumping as natural. So i dont think its related to elections.

[Stalker22]

The exchanges are the FIAT gates and whoever controls those gates also controls crypto.

Not necessarily. The US is not the world, you know that? There will always be FIAT gates. Even before there were exchanges, there were FIAT gates.
I'm not arguing that it can't hurt bitcoin but it can't kill it, afaik.

[pixie85]

It's not kindda like that because bitcoin sudden pumped was happened for PayPal cryptocurrency regulation. They buyed all minted btc. And price dumping as natural. So i dont think its related to elections.

I'd say that it grew not because of Paypal buying because Paypal's trading volume is much lower than that of Binance or Bitfinex. People bought a lot first because of the news and then because of the FOMO rally that really was the reason of us reaching 18 and 19 thousand. Without FOMO we'd probably landed somewhere at 16.

Trump's administration won't be able to do much because it's over for them. They're leaving the field and Bitcoin is such a small and unimportant thing for them that they will not even bother with it in that last month in the office.

[mindrust]

The exchanges are the FIAT gates and whoever controls those gates also controls crypto.

Not necessarily. The US is not the world, you know that? There will always be FIAT gates. Even before there were exchanges, there were FIAT gates.
I'm not arguing that it can't hurt bitcoin but it can't kill it, afaik.

The US is the world now.

I know that much.

If they weren't... how come they ... here is a couple of articles to wake you up:

U.S. indicts suspected Russian 'mastermind' of $4 billion bitcoin laundering scheme (in Greece)

John McAfee, the 74-year-old software magnate-turned-crypto-bull, has been arrested in Spain on allegations of tax evasion, according to the U.S. Department of Justice. His extradition to the U.S. is pending.

Not convinced?

Tell me then... have you ever heard of Germany arresting a German citizen in the US for evading taxes in Germany? Ever? (you can replace Germany with anything else)

NEVER.

If the US do these things then people would express their opinions about everything that's related to US, even the US elections because they affect us.

[kryptqnick]

I don't think that what's currently going on is related to anything happening in the US. The price was pumped a lot, largely due to FOMO. And given that $20k is the ATH, the pressure and the wish to sell started to build up very fast when the price reached $19k. Thanksgiving could contribute to some selling, as the price tends to go down a bit during major holidays because people need money for presents, I think. But that probably wasn't the main trigger as well. It's just a natural correction, and judging by the past I think that it's reasonable to expect the price to go further down, regardless of whatever Trump and his administration do or don't do.

[Akiko]

Hi,

I was just wondering what you think about the recent crash, how it relates to the rumours about government regulations in America and what actions you will be taking over the coming months if strict regulations are announced?

Is it time to pull our money out of Crypto for now while we wait and see what regulations are going to be announced?

https://cryptonews.net/423856/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Why we should be afraid of one government regulations? I mean our country have different regulations in crypto currency who cares for US. It can only affect the market once but it will recover again as long there are many countries supporting it I don't think we need to see it as a big deal and besides  crypto currency is better compare to US dollar . .

[gentlemand]

The exchanges are the FIAT gates and whoever controls those gates also controls crypto.

For now, yes. In future it's possible enough people will largely detach themselves from the fiat system. I myself would much rather work for and pay out in BTC and never head back to fiat. I've rarely heard governments voice the possibility of a closed loop economy and that's for the best.

If they started attempting to stick their sausage fingers in that it would be unspeakably crude and totally unworkable. There will be a degree of transition. I hope it goes far enough while it's still under the radar.

[aesma]

I don't know if it's really easy for states to regulate crypto. The more they regulate them, the more they legitimize them. Then they have a big problem with convincing people that their fiat (dollar, euro etc.) that they're printing like madmen are better than bitcoin ! If I'm going to declare all my BTC holdings, income, dealings, etc., then I will start asking for my salary to be paid in BTC too ! Things start like that and soon enough nobody wants the official currency, like is happening in countries like Zimbabwe or Venezuela.

States are better off dismissing crypto IMHO, calling it something for hobbyists and criminals.

The exchanges are the FIAT gates and whoever controls those gates also controls crypto.

Not necessarily. The US is not the world, you know that? There will always be FIAT gates. Even before there were exchanges, there were FIAT gates.
I'm not arguing that it can't hurt bitcoin but it can't kill it, afaik.

The US is the world now.

I know that much.

If they weren't... how come they ... here is a couple of articles to wake you up:

U.S. indicts suspected Russian 'mastermind' of $4 billion bitcoin laundering scheme (in Greece)

John McAfee, the 74-year-old software magnate-turned-crypto-bull, has been arrested in Spain on allegations of tax evasion, according to the U.S. Department of Justice. His extradition to the U.S. is pending.

Not convinced?

Tell me then... have you ever heard of Germany arresting a German citizen in the US for evading taxes in Germany? Ever? (you can replace Germany with anything else)

NEVER.

If the US do these things then people would express their opinions about everything that's related to US, even the US elections because they affect us.

These countries' extradition treaties with the US are ridiculous, that's the main reason. US taxes are not very high for a developped country so I can't really agree with people doing tax evasion there.

France will extradite murderers to the US, after a lengthy procedure, and a promise from the US and states that the death penalty will be off the table. For lesser crimes, very difficult. Case in point Roman Polanski.

[imstillthebest]

did trump already loose on biden . biden has the power now not trump .
 trump has a chance before and if he really wanted to regulate btc he can do that on his years of service in the government but for biden i dont think he will do such things as trump planning  .
for now guys on the u.s must not panic and they shouldnt sold out or pull out thier money in crypto because things can get better as what they arent expecting and for the guys that are outside in the u.s we are going to be fine .

[HabBear]

Well, a President of any country can do damage to the free market in their country. They can declare a ban on almost anything! But Trump won't do anything to influence bitcoin. I don't think he's ever mentioned bitcoin before, it's certainly not on his mind now.

The bigger worry to cryptocurrency and bitcoin is the fact that Trump won't be President any loner and the US economy and political future will stabilize. This stability reduces uncertainty and drives confidence in the US Dollar and other fiat currencies. Fear in the fiat is one of the biggest drivers to flee to cryptocurrency...at least it's growing that way.

Perhaps the bigger influence to bitcoin is how Wall Street and 401ks are beginning to open up to the investment. This is truly a door to previously unaccessible demand.

[Gotumoot]

Why people are really fan on connecting dots which arent supposedly to be relevant at all? No government or administration will affect or would able to do something to Bitcoin.
Just like on what had mentioned that imagine on how Chinese government did really make such attempt but they did fail. Bitcoin is too big to fail and to be controlled even
though it might be connected into some fundamentals or news or happenings but doesnt mean that it will completely be controlled by it.

I also don't understand why they would connect everything to Bitcoin price maybe next time when a well known actor or even politician died and the price collapse they would say that it is connected,
The person who died pulled the price down dragging it .