Will cryptocurrencies see a new wave after Trump's election?

[btc-1024mining]

I hate to bring up politics because we BTC believers don't associate ourselves with politics but today's events have forced me to do so
As the US election draws closer, Mr Trump has been speaking out frequently
This in itself does not have much to do with us BTC believers, but we all understand that elections need supporters and need donations. It is precisely Mr. Trump who supports cryptocurrencies to make donations and has vowed that if he returns to office, he will end the hostility of the United States to cryptocurrencies and embrace cryptocurrencies.
"Joe Biden doesn't even know what cryptocurrencies are, if you like cryptocurrencies, you better vote for Trump."

I personally feel that there is absolutely no need to link politics with our beliefs, so these enthusiastic netizens do not agree with their comments
But there are some annotated messages that can be drawn from these published statements
1. Most people have a love for cryptocurrencies like BTC
2. Both countries and individuals will be associated with btc in the future, regardless of any cryptocurrency, remember that Bitcoin is the pioneer
3. The derivative technology through BTC technology will make our future life richer

From this, we can understand some of the views of the speakers to elaborate a problem that BTC "life" is the closest to us and will change our life in a way
So we don't talk about the fundamental political issues and we just want to make a qualitative change in our own lives and not let "it" affect us and that's the idea of BTC, isn't it?

[Dunamisx]

We cannot fully predict on this, this is all about his own personal achievement as he is making campaign in other for him to emerge into the office for the second term, the only advantage i see to this is the way bitcoin use will be allowed and free from regulation as from how it has always been through the thick and dark huddles of the US government, his administration may lay down all the attacked and allow everyone to use bitcoin as they have always wanted and if possible make bitcoin a legal tender.

[BlackHatCoiner]

Well, considering that the Biden administration has risen the capital gains tax to 44.6% (the highest in the last hundred years), and which will exceed 50% in some states if you couple it with individual state taxes, then pretty much anything is friendlier than that. I'm not a Trump supporter, but objectively speaking, there's not one thing in the realm of cryptocurrencies that Biden will do better. Somebody from the US please prove me wrong.

[alani123]

Hold your horses. There's a very high chance Trump doesn't get elected. And let alone that, even if we see him elected again, he has a history of taking back promises.
So I don't think there's all that much that he could do to pump cryptocurrency. Already crypto companies have fought attempts at sweeping regulation back and won like with the ETFs and the XRP cases. But some regulations are also reasonable. For example ponzi-like lending programs like Celsius, and exchanges like FTX that end up imploding need to be stopped right on their tracks else the U.S. will lose all its credibility. Accounting needs to apply to crypto also. And for example, USDT is not excluded. So Trump would have to implement some regulation also, not shy away from it.

He is currently over promising without seemingly knowing anything about what he's talking about. Once he's faced with the same issues I'm sure he'll realize policies can't be that different.

[avikz]

It's too early to predict that. I understand that during Biden's administration, the common cryptocurrency users are not in a good shape due to increased tax burden and also the crypto related businesses are facing court cases and arrests. But there's no guarantee that it will be changed if Trump wins the election. So don't rush into predicting outcome yet.

Also it seems, the chance of Trump becoming president again, is pretty slim.

[bluebit25]

I dont deny what Trump is sharing about his views expressing support for crypto, but perhaps I do not remember the exact time in the past but also witnessed Trump expressing his views against bitcoin. Perhaps he is more on the side of supporting national interests than concerned for the crypto sector, but nonetheless, in the journey of developing bitcoin (crypto) we have witnessed many related issues. And with Trump's current actions stating that he wants to attract votes rather than crypto adoption, I'm quite skeptical that he will be like the next Elon Musk in creating a wave of innovation attention to crypto and includes creating a space of garbage related to memes in crypto.

[legiteum]

Bitcoin would crash if Trump was elected because he brings chaos and risk into the markets. Trump is corrupt and has shown he will use the power of the US presidency to fill his own pockets, and he absolutely doesn't care about anybody else. That means he is apt to do something like create his own crypto and ban Bitcoin, for instance, and make it illegal to hold anything but his currency. (This wouldn't necessarily "kill" Bitcoin, but it would certainly drive the price down to just a few dollars). And using the power of the presidency (without any fear of being prosecuted or impeached), Trump could do a million other things.

Remember that in his last presidency Trump pardoned criminals who ripped off money from his own supporters. He knows he can get away with anything, so he acts accordingly.

And if it isn't Trump trying to rip off Bitcoin holders, there's also the matter of the huge police state his administration needs to create in order to stop all of the millions of abortions that occur in the US every year (their intention to stop abortions nationwide is outlined very clearly in Trump's policy document; tl;dr: Republicans consider abortion to be "murder" and they will do absolutely everything they can to stop it in all 50 states and through the internet).

Once the Trump administration figures out that Bitcoin can be used to pay for illegal abortions, they will ban it.

Bitcoin went up 500% under president Biden.. The safe path here is to stay with a known winner, not take a risk on a criminal like Trump, or the fundamentalists who would run his administration.

I don't like to mix politics and business either, but the business decision here is to stick with the stable state, not take a wild risk with something fundamentally different.

[Ambatman]

The use of Btc believers weird's me out.
It's like we worshipping Bitcoin
And yes we should understand politics too.
Btc exist in an environment and would definitely be affected by environmental factor like politics.
This reminds me of how the current president of my country promised to legalize cryptocurrency but later made it worse than the previous administration we were complaining about.
I know he has his reasons, a promise should be a promise but I guess that's not how it works in the political realm.
Let's say Trumps do get elected and supports cryptocurrency outreach, He strikes me like one that would do it for his benefit and not the public.

[snerd]

“EVERYTHING” will be better with a Trump win.

[kotajikikox]

"Joe Biden doesn't even know what cryptocurrencies are, if you like cryptocurrencies, you better vote for Trump."

What I want to say is that politicians are snakes and a bunch of liars.

I feel like he really does not care about cryptocurrency nor understand just how important and innovative it is but his team probably has found just how much people are into crypto and he wants to make them vote for him.

Do not make rash decisions we don’t even know whether he’s actually going to do something good with crypto if he were elected again. Has he laid out a specific plan?

[cryptosize]

FED has set the interest rate at 5.5% currently:

https://tradingeconomics.com/united-states/interest-rate

Perhaps FED will enforce a ZIRP policy during the upcoming US elections...

There's a huge recession right now (for example, the game industry has had over 10k layoffs).

Recession = angry voters = no bueno

[BlackHatCoiner]

Bitcoin would crash if Trump was elected because he brings chaos and risk into the markets.

Trump had been elected in 2016, and no chaos was brought into the cryptocurrency markets. Pretty much the opposite, we all know what followed after 2016.

Trump is corrupt and has shown he will use the power of the US presidency to fill his own pockets, and he absolutely doesn't care about anybody else. That means he is apt to do something like create his own crypto and ban Bitcoin, for instance, and make it illegal to hold anything but his currency.

I mean, republican isn't libertarian, but he's more of a free market advocate than Biden. Wouldn't he lose lots of votes if he criminalized Bitcoin to promote a CBDC? I think he would. Not even Biden attempted to do this.

Once the Trump administration figures out that Bitcoin can be used to pay for illegal abortions, they will ban it.

• All cryptocurrencies can be used to engage in a host variety of illegal activities. You can't seriously criminalize all that market for that reason.
• They had already figured that out in the previous quadrennium.

[cryptosize]

Bitcoin would crash if Trump was elected because he brings chaos and risk into the markets.

Trump had been elected in 2016, and no chaos was brought into the cryptocurrency markets. Pretty much the opposite, we all know what followed after 2016.

Trump is corrupt and has shown he will use the power of the US presidency to fill his own pockets, and he absolutely doesn't care about anybody else. That means he is apt to do something like create his own crypto and ban Bitcoin, for instance, and make it illegal to hold anything but his currency.

I mean, republican isn't libertarian, but he's more of a free market advocate than Biden. Wouldn't he lose lots of votes if he criminalized Bitcoin to promote a CBDC? I think he would. Not even Biden attempted to do this.

Once the Trump administration figures out that Bitcoin can be used to pay for illegal abortions, they will ban it.

• All cryptocurrencies can be used to engage in a host variety of illegal activities. You can't seriously criminalize all that market for that reason.
• They had already figured that out in the previous quadrennium.

legiteum has a huge Orange Man phobia and he thinks Sleepy Joe is the best thing since sliced bread!

Personally, I'm skeptical about Trump because he was pro-USD anti-BTC (maybe he has changed his mind and/or maybe he had to support the dollar as a president, it would be suicidal to go against the FED and become JFK No2).

If I had to choose, I'd say the 2016-2020 period was a lot better for America (and the world in general) compared to 2021-2024. Dementia Man needs to go.

I think 2024-2025 will be pretty good with Trump (especially if FED drops to 0% again), but I'm a bit worried about 2026-2027, since we know he has a beef with China and he may start WW3 if they invade Taiwan.

So in general I expect 2 good and 2 bad years with Trump. Seems like a better deal compared to 3-4 bad years of Biden.

ps: Banning BTC in a permissionless network/protocol (internet & TCP/IP) tells me this guy is totally clueless, he has irrational Trump-o-phobia and zero rational arguments/criticism about him.

Making a Trumpcoin, thinking it could rival it and crashing BTC to 2011 prices also tells me doesn't really understand BTC...

Even in China BTC isn't really banned.

[peter0425]

The use of Btc believers weird's me out.
It's like we worshipping Bitcoin
And yes we should understand politics too.
Btc exist in an environment and would definitely be affected by environmental factor like politics.

Even if bitcoin is affected by factors like politics it should not lean towards any political party and should not be used to promote any kind of political character. That will not reflect the bitcoin community at large because not all bitcoin enthusiasts are american citizens and even if they are not all of them support trump

This reminds me of how the current president of my country promised to legalize cryptocurrency but later made it worse than the previous administration we were complaining about.

Politicians rarely keep their promises and usually just say whatever they think people wants to hear with no actual plans of keeping the promise.

[thecodebear]

I hate to bring up politics because we BTC believers don't associate ourselves with politics but today's events have forced me to do so
As the US election draws closer, Mr Trump has been speaking out frequently
This in itself does not have much to do with us BTC believers, but we all understand that elections need supporters and need donations. It is precisely Mr. Trump who supports cryptocurrencies to make donations and has vowed that if he returns to office, he will end the hostility of the United States to cryptocurrencies and embrace cryptocurrencies.
"Joe Biden doesn't even know what cryptocurrencies are, if you like cryptocurrencies, you better vote for Trump."

I personally feel that there is absolutely no need to link politics with our beliefs, so these enthusiastic netizens do not agree with their comments
But there are some annotated messages that can be drawn from these published statements
1. Most people have a love for cryptocurrencies like BTC
2. Both countries and individuals will be associated with btc in the future, regardless of any cryptocurrency, remember that Bitcoin is the pioneer
3. The derivative technology through BTC technology will make our future life richer

From this, we can understand some of the views of the speakers to elaborate a problem that BTC "life" is the closest to us and will change our life in a way
So we don't talk about the fundamental political issues and we just want to make a qualitative change in our own lives and not let "it" affect us and that's the idea of BTC, isn't it?

I'd rather have a functioning nation than another four years of terror under Trump. Also he'll probably be in prison. Also he's a pathological liar so if he is trying to convince you of something to get you to vote for him it is almost certainly a lie. He has never done anything or shown anything for Bitcoin. Bitcoin will be just fine on its own, no need to bring a criminal and traitor like Trump back into office just because he might (but probably won't) be a little friendlier to Bitcoin than Biden is. Please don't bring politics into the Bitcoin forum, especially if you're gonna promote a traitorous criminal like Trump.

[GbitG]

It's too early to predict that. I understand that during Biden's administration, the common cryptocurrency users are not in a good shape due to increased tax burden and also the crypto related businesses are facing court cases and arrests. But there's no guarantee that it will be changed if Trump wins the election. So don't rush into predicting outcome yet.

Also it seems, the chance of Trump becoming president again, is pretty slim.

Hmm, that's true mate!
In fact, these political buddies are ready to do everything during election time, but when the time comes to fulfill their promises, they go back on their words, and I think J. Trump will do the same because, according to that Joe Biden also gave many statements, but they did not pick out any good way for cryptocurrency users, on the contrary, they tightened the rules and regulations for crypto traders or miners, which means they started bringing up various issues by bringing out the problems of bad taxation and bad court cases. Keep arresting. So I think J. Trump will also come out in the same way, he also works only for his own purposes (Bank Balance). Similarly, Joe Biden will also make excuses and register one case and another case for cryptocurrency users. 
 
Neither J. Trump nor Joe Biden will be a good presidents who make decisions in favor of cryptocurrency users.

[legiteum]

So in general I expect 2 good and 2 bad years with Trump. Seems like a better deal compared to 3-4 bad years of Biden.

Bitcoin went up 500% under president Biden.

Trump had been elected in 2016, and no chaos was brought into the cryptocurrency markets. Pretty much the opposite, we all know what followed after 2016.

That was before Trump learned he could blatantly break the law and his voters wouldn't care in the slightest. And that was back when Trump had actual Republicans in his administration who actually cared about the country. He calls those same former Republicans "enemies" now they won't be around to keep the country from collapsing this time.

I mean, republican isn't libertarian, but he's more of a free market advocate than Biden. Wouldn't he lose lots of votes if he criminalized Bitcoin to promote a CBDC? I think he would. Not even Biden attempted to do this.

Trump is not a libertarian, and there's no evidence he's more "free market" than Biden. He's not a traditional Republican from the 1990s or something. Those lines don't mean anything anymore in the Trump era.

And no, Trump wouldn't lose any votes because nothing he does loses votes. He pardoned one of his associates for ripping off his own supporters and they don't care.

And no, Trump surely wouldn't do a CBDC, he'd do a private coin that he owned most of, making it so he'd get most of the profits. Trump doesn't care about the USA, he cares about Trump.

Once the Trump administration figures out that Bitcoin can be used to pay for illegal abortions, they will ban it.

• All cryptocurrencies can be used to engage in a host variety of illegal activities. You can't seriously criminalize all that market for that reason.
• They had already figured that out in the previous quadrennium.

I know that, and you know that, but try telling that to zealots who think they have been sent down from God to stop the murder of millions of what they consider "children". Republican have a big big project on their hands trying to stop millions of women from getting abortions every year--and by extension getting millions to stop having sex. This will be the drug war times ten by the time they are done. Crypto could very easily get caught up in that.

The safe bet is reelecting Biden, who presided over Bitcoin going up 500%.

[pinggoki]

We can never be sure, is Trump really the one that will take the win on the election though? I feel like there's still some sentiments that would side with Biden on this one but I'm not saying that he would win, it's just that there's still some competition involved. Bitcoin or even cryptocurrency isn't really the big thing on Trump's platform right now so I don't get why it's our worry or hope, I think that there's a possibility that a growth might happen but at the end of the day, it's possible that there's going to be some pumps and dumps during his potential time as a president but then the reason for those pumps and dumps are probably not even remotely connected to the presidency, maybe it's just we're all weird people that want to make all of the connections because we want some explanations to the things that's happening to ease our minds.

[adaseb]

They have a better future than if Biden is president again. Trump a few days ago said to vote for him if you like crypto. He said he is fine with it and will allow it. He also made some money last year selling his trump nfts. Plus all his stock market buddies are crypto bulls most likely and he knows not to say anything negative.

But this isn’t the only reason. Stock market had a great year when he was president. The market is very bullish on trumps presidency. So if the stock market pumps so will crypto since they are correlated closely.

[yhiaali3]

In any case, I hope that Trump's victory will encourage openness to cryptocurrencies in the United States and the enactment of less strict and more open laws towards cryptocurrencies and the crypto industry as a whole.

But the words of presidential election candidates should not be taken into account. They often say beautiful, sweet words during the election campaign, and then if they win the presidency, they forget everything they said.

In any case, it is not just about the president. There is the Senate, which enacts legislation, and there are many hawks who oppose Bitcoin and who may stand up to Trump.