Florida bank says it has closed Trump's accounts

[Wind_FURY]

A single event like this can not make an enormous impact on the cashless society. This process requires much more endeavors in order to convert our current situation to the new era. Moreover, Trump is hated by many people and if he uses bitcoin, it can cause negative consequences.

“Negative consequences” on the what? The price? Its “reputation”? Bitcoin’s main value proposition is censorship-resistance. ANYONE should use it without fear of being censored. I would like to see Trump use it.

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[Gozie51]

It’s not the first one. There may be more banks to liquidate Trump’s assets in the future.

Why do you say so or you have any reason for that submission of yours?
How will a bank liquidate the account of someone if the person has not done an offense against the bank, state or money laundary laws. I think that won't think may not happen if nothing is found against on the bank. I think all those are temper and tempo rising out of the election and things will get cool later.
You should back it up with your reason.

[bryant.coleman]

“Negative consequences” on the what? The price? Its “reputation”? Bitcoin’s main value proposition is censorship-resistance. ANYONE should use it without fear of being censored. I would like to see Trump use it.

In that case since Trump was using fiat currency for more than 7 decades, the price and reputation of the US Dollar should have been affected, right? Some of the users like slapper never fails to amuse me with their ridiculous logic. Trump was the president of the United States from 2016 to 2020 and any endorsement from him would be earth shattering for Bitcoin. But I know that the chances are very minimal.

[Kittygalore]

It’s not the first one. There may be more banks to liquidate Trump’s assets in the future.

It won't be a problem for him, this is just for show to make those banks cut ties with him so they have a clean reputation. I do not think that Trump will be leaning to cryptocurrency anytime soon, he has a company and they can't simply close a bank account of someone who owns a business. Although he did bad with rallying his supporters into storming the Capitol. Even if a lot of banks closed his accounts, remember that businessman like him definitely has other accounts that are not in his name and shell companies is also a possibility too. Remember that it is USA, the home of good old capitalism that slaves the people, this kind of things will not be a talk of the town in a few months.

[so98nn]

Trumps relationship with the financial aspect was not as good as previous presidency. I guess this won't much useful or what can I say affecting the cyrpto currency market. Trump never had any positive approach towards the crypto currencies and as far as I know there wasn't any perpetual news to move the market upside down with Trumps actions. Even thought of this is little off the track.

Now twitter stocks, real world share market may get little bit offended with this news and further actions by trump but won't last forever. It's just temporary and only those people get stimulated with this news who are actual followers of the Trump.

However, Biden presidency have already shown up his magic and many followers were dropped after they took the Oath last week. So that's the mega change, trump isn't.

[wxa7115]

I am not a fan of Trump however the persecution that he is being object of should be very worrying, if they can do that to him, can you imagine what they can do to anyone that does not have the power he holds?

This is why a cashless economy in which all transactions go through centralized parties is a terrible idea for those of us that love freedom, bitcoin is the last obstacle in the path of those that want to get complete control of the society which is why whenever I think of bitcoin failing I get worried about the world that we will get to see if that happened.

Don't forget that attacking Trump and backing him into a corner, where he may not have much to lose, could be a poor strategy for whomever makes these decisions.

Yes, they can do it. But what will the backlash be?

Their attacks on Trump are what forced him to run for President in 2016. The IRS audited him every year for like 10 years. Until Trump got pissed off and ran for President.

They might have been better off not attacking Trump and letting him bang supermodels and film reality tv shows all day.

Correct and things could get even more crazy during the next years, Trump wants to create a political party and if he does I have no doubts a significant amount of voters will vote for his party, even if he never runs for president again if his party is able to get some decent amount of votes that could be enough to force the other two parties to have to negotiate for him for everything making him once again one of the most powerful persons in the US.

Also many are claiming that Trump hates cryptocurrencies and maybe that is true, but he is not dumb, if he sees in cryptocurrencies an ally that could help him I have no doubts he could pull off a 180 and change his stance dramatically.

[Princejebs]

It’s not the first one. There may be more banks to liquidate Trump’s assets in the future.

That's why we shouldn't abuse power if we are opportune to occupy a position. Who could believe that the bully trump account will get shut down by a mere bank, but he no longer has the immunity to power which no longer protects him and his political carrier, I hope he learn from this and from Americans.
If he had allowed bitcoin to exist and recognize during his tenure, by now he wouldn't be bother by this banks brouhaha. 

[worle1bm]

Trump administration was never crypto friendly as they always tries to pass rules which do not promote cryptocurrencies rather it put rational bans on working of the exchanges and wallets in America and think btc and other altcoins as threat to the financial system of the country because he is old fashioned who have superiority complex and do not want to loose control if they are in power and same has happened when he loose the votes.He was invited by many to invest in crypto and he ignores all of them and now see what a centralized financial institution can do to you.You can loose control over your own money in just matter if second whenever the centeral authority of that currency required.Thats where we need to take a step and move forward to the decentralised cryptos like btc where user have full control over their funds unlike these conventional institutions which put limits and restrictions over you to acces what?Your own funds and same has happened to Trump now.But that does not matter because many more banks will open his account as he is already a billionaire and put huge amounts in his account but we all need to know the true power of cryptocurrencies around the globe.

"Your funds your control."

[bits4books]

All sorts of progressive liberals and libertarians can say as much as they want that this is private discrimination and it's ok. But if you have your own head on your shoulders and you distinguish at least yellow from red, then you should understand that this will not last long. In the situation with Trump, the whole world has seen how far corporations have come and how much they have covered us with their hands - and this can cause a tsunami of restrictions for everyone  from the state. And even though Biden and his team support all this , you will soon see how in the beautiful Socialist America of the Future, corporations will be forced to impose more and more restrictions, justifying this with the protection of free speech and so on. But we still understand what this will lead to in the end.

[Swopon]

There are many other banks except Florida bank, Trump hasn't any boundaries to keep a/c only this bank. There are other banks for use so if Florida closed trumps a/c then this bank may lose a valuable customer.

[Emitdama]

He has never spoken good about Bitcoin/cryptocurrency, so I am not sure if he’s going to switch to any of that because of banks has closed his accounts. But this goes to show that money we have in the bank doesn’t really belong to us because banks can decide to lock our accounts and prevent us from having access to our hard earned money, which is something I have seen happen to a lot of people countless times, and sometimes it’s an order that’s given by the government.

It is good to have money stored secretly elsewhere in cryptocurrency, that way you can always have a means to support yourself no matter what.

[slapper]

I am not a fan of Trump however the persecution that he is being object of should be very worrying, if they can do that to him, can you imagine what they can do to anyone that does not have the power he holds?

This is why a cashless economy in which all transactions go through centralized parties is a terrible idea for those of us that love freedom, bitcoin is the last obstacle in the path of those that want to get complete control of the society which is why whenever I think of bitcoin failing I get worried about the world that we will get to see if that happened.

Don't forget that attacking Trump and backing him into a corner, where he may not have much to lose, could be a poor strategy for whomever makes these decisions.

Yes, they can do it. But what will the backlash be?

Their attacks on Trump are what forced him to run for President in 2016. The IRS audited him every year for like 10 years. Until Trump got pissed off and ran for President.

They might have been better off not attacking Trump and letting him bang supermodels and film reality tv shows all day.

Correct and things could get even more crazy during the next years, Trump wants to create a political party and if he does I have no doubts a significant amount of voters will vote for his party, even if he never runs for president again if his party is able to get some decent amount of votes that could be enough to force the other two parties to have to negotiate for him for everything making him once again one of the most powerful persons in the US.

Also many are claiming that Trump hates cryptocurrencies and maybe that is true, but he is not dumb, if he sees in cryptocurrencies an ally that could help him I have no doubts he could pull off a 180 and change his stance dramatically.

Well, Trump is a nice guy and he has claimed that he will not found any more party. His decision is to stick to the Republic so as to increase the power of this party. Trump has so many intentions to do in the next four years before he can go and become a candidate again

Rumors say that he hates bitcoin but up to now, there is no clear signs that he tries to stop this coin from being operated. He might be an obsolete man but after all, a business man flexibly adapt to new situation. And yet, if cryptocurrencies can support him, there is no reason he should allege it

[Twentyonepaylots]

Honestly, these banks are getting good publicity from vocal Trump Haters with these closing of bank accounts, they'd still get customer anyhow and compared to Trump's asset, having millions of users are better. So I don't think they arw inherently on the good side of things now that they chose to close on him. On Trump's end, we all know he deserved it. He literally broke the law he imposed.

[AndySt]

Honestly, these banks are getting good publicity from vocal Trump Haters with these closing of bank accounts, they'd still get customer anyhow and compared to Trump's asset, having millions of users are better. So I don't think they arw inherently on the good side of things now that they chose to close on him. On Trump's end, we all know he deserved it. He literally broke the law he imposed.

Undoubtedly, Trump has done a lot of not very reasonable things recently, another question is whether banks should get involved in politics and take such actions before the decision of the authorized law enforcement agencies is made, and whether this does not turn into settling the accounts of the ruling elites with an undesirable member. These are tough times for Trump, and we'll see soon if he can stay in politics and business until the next presidential cycle.

[Sithara007]

All sorts of progressive liberals and libertarians can say as much as they want that this is private discrimination and it's ok. But if you have your own head on your shoulders and you distinguish at least yellow from red, then you should understand that this will not last long. In the situation with Trump, the whole world has seen how far corporations have come and how much they have covered us with their hands - and this can cause a tsunami of restrictions for everyone  from the state. And even though Biden and his team support all this , you will soon see how in the beautiful Socialist America of the Future, corporations will be forced to impose more and more restrictions, justifying this with the protection of free speech and so on. But we still understand what this will lead to in the end.

It is ironic, isn't it? America is moving more and more towards socialism, while China is moving towards capitalism. The Chinese had enough of socialism and they saw how it turned out in countries such as the USSR, Cuba and North Korea. Americans have no taste of Socialists in power (until now) and this will be a bitter lesson for them. They need to suffer first, so that they will never chose this option again.

[Arkann]

All sorts of progressive liberals and libertarians can say as much as they want that this is private discrimination and it's ok. But if you have your own head on your shoulders and you distinguish at least yellow from red, then you should understand that this will not last long. In the situation with Trump, the whole world has seen how far corporations have come and how much they have covered us with their hands - and this can cause a tsunami of restrictions for everyone  from the state. And even though Biden and his team support all this , you will soon see how in the beautiful Socialist America of the Future, corporations will be forced to impose more and more restrictions, justifying this with the protection of free speech and so on. But we still understand what this will lead to in the end.

It is ironic, isn't it? America is moving more and more towards socialism, while China is moving towards capitalism. The Chinese had enough of socialism and they saw how it turned out in countries such as the USSR, Cuba and North Korea. Americans have no taste of Socialists in power (until now) and this will be a bitter lesson for them. They need to suffer first, so that they will never chose this option again.

I completely agree with your opinion, and I believe that people always start to appreciate more what they lose. After all, it is then that awareness and understanding comes. I was personally very surprised at how the whole election process and the relationship of the results of the expression of the will of the people in the United States took place, since for me America was the prototype of a democratic society.

[pixie85]

Honestly, these banks are getting good publicity from vocal Trump Haters with these closing of bank accounts, they'd still get customer anyhow and compared to Trump's asset, having millions of users are better. So I don't think they arw inherently on the good side of things now that they chose to close on him. On Trump's end, we all know he deserved it. He literally broke the law he imposed.

It's always about money and I see a lot of that "me too" acting in this recent bank stunt. They know they can make money on this and at the same time show that they're like other banks who did the same. They want to look like they listen to the people and want to punish the wrongdoer. This is such a low move. It's all an act by greedy banksters.

To me they're showing that if one day they decide I or someone that I like did something wrong they'll punish him in their own way. I'm glad I don't hold my money in one of those banks.

[AndySt]

It is ironic, isn't it? America is moving more and more towards socialism, while China is moving towards capitalism. The Chinese had enough of socialism and they saw how it turned out in countries such as the USSR, Cuba and North Korea. Americans have no taste of Socialists in power (until now) and this will be a bitter lesson for them. They need to suffer first, so that they will never chose this option again.

There is nothing better than a reasonable balance between the freedom of private enterprise and the concern of the state for the welfare and health of its citizens. But to the greatest regret, such an ideal balance does not exist, and therefore, with the normal development of the situation, there is another change of conditionally left governments to conditionally right ones. I am not sure that it is possible to build socialism in the United States and the current government can be called socialist.

[jaysabi]

“Negative consequences” on the what? The price? Its “reputation”? Bitcoin’s main value proposition is censorship-resistance. ANYONE should use it without fear of being censored. I would like to see Trump use it.

In that case since Trump was using fiat currency for more than 7 decades, the price and reputation of the US Dollar should have been affected, right? Some of the users like slapper never fails to amuse me with their ridiculous logic. Trump was the president of the United States from 2016 to 2020 and any endorsement from him would be earth shattering for Bitcoin. But I know that the chances are very minimal.

Like all things science and health related, trump's opinion on bitcoin shouldn't be taken seriously. Economics in general are a weakness for him (e.g., tariff wars are easy to win, or I'll pay off the national debt before I leave office). He just says things without the slightest inkling of meaningful thought. He's not gonna move bitcoin; he's no Elon. 

[Sithara007]

Like all things science and health related, trump's opinion on bitcoin shouldn't be taken seriously. Economics in general are a weakness for him (e.g., tariff wars are easy to win, or I'll pay off the national debt before I leave office). He just says things without the slightest inkling of meaningful thought. He's not gonna move bitcoin; he's no Elon. 

I would disagree with your observation. Trump received more than 70 million votes during the 2020 POTUS elections. He is perhaps the most popular GOP presidential candidate to this date. With such a huge support base, he can do wonders to Bitcoin and any potential impact would be much larger than what Elon Musk had. And I don't want to argue much about economy. But you can't ignore the fact that the stock market jumped by 70% under his presidency. And this happened despite the pandemic. He knew what he was doing, and the evidence is there. At least his approach was much more logical and sensible compared to the one from Biden, who is busy increasing the taxes left, right and center.