Crypto and Bitcoin regulations makes BTC prices go UP

[legiteum]

Perhaps 95% of average consumer holders of Bitcoin today are those who hold their Bitcoin in some kind of brokerage account like CoinBase or Binance, or buy the ETF through their stock brokerage.

Like them or not, these retail investors are the difference between BTC at $60k and BTC at $1.60. If you pine for the days when Bitcoin was the wild west back in 2012, then understand you are also begging for the price to drop to levels thousand of times below what it is today.

Average consumers like regulation because it provides them a worry-free means of investing. People like the idea of a market being carefully regulated because they can trust that market.

And the more trust there is in a market, the more money goes into that market.

And when trust leaves the market--viz. what happened in the FTX fiasco a few years ago--prices fall through the floor.

Bitcoin has gone up over 500% under president Biden. This is despite certain voices in the media alleging he is some sort of "enemy of crypto". What has happened under the Biden administration is that the market has been made safer for average consumer investors, and accordingly, the price of Bitcoin has skyrocketed.

Trump, on the other hand, is a convicted criminal who is promising to use his pardoning power to free other convicted criminals. For the right price, he will surely free SBF and many other crypto criminals. This will scare the hell out of the market and send average retail investors fleeing.

If you care about your Bitcoin price, then the right choice is to stick with stability and a carefully regulated market, not pray for clemency for criminals.

[bitterguy28]

Average consumers like regulation because it provides them a worry-free means of investing. People like the idea of a market being carefully regulated because they can trust that market.

that is true but many nowadays are realizing the importance of decentralization and instead are driven away by the strict implementations of regulations and such. more people are now complaining due to unreasonable and obviously pointed rules towards crypto enthusiasts

Trump, on the other hand, is a convicted criminal who is promising to use his pardoning power to free other convicted criminals. For the right price, he will surely free SBF and many other crypto criminals. This will scare the hell out of the market and send average retail investors fleeing.

i can’t see the connection between trump and centralization or did i miss anything? is trump offering his own platform where you can buy bitcoins from? bitcoin will not be connected to trump no matter how much he talks about it.

[Hispo]

Well. Firstly, I would like to point out that pardoning criminals is not something which is supposed to get a pass, not matter who the president of the United States is. Also, I believe Biden does not have much to do with the increase of price of Bitcoin, to be honest. It is rather a coincidence he is the president right before the halving of Bitcoin took place, there were many people with expectations of profit after the halving, that is what likely caused the increase of it's price.
Regarding regulations, in some degree I agree there is an important percentage of the population which sees regulation with good eyes, specially institutional investors and organizations which are interested to locate some of their capital into Bitcoin.
If Trump for some reason ended up pardoning criminals related to cryptocurrencies, then it would be a very bad precedent for this ecosystem, no doubt about it. It would be signaling  to other possible criminals they would be pardoned if get caught stealing and defrauding their clients...

[legiteum]

i can’t see the connection between trump and centralization or did i miss anything? is trump offering his own platform where you can buy bitcoins from? bitcoin will not be connected to trump no matter how much he talks about it.

I didn't mean to imply that he would (although if his people ever figure out how much money could be made by killing Bitcoin and pumping his own currency, that will absolutely happen).

[Hispo]

i can’t see the connection between trump and centralization or did i miss anything? is trump offering his own platform where you can buy bitcoins from? bitcoin will not be connected to trump no matter how much he talks about it.

I didn't mean to imply that he would (although if his people ever figure out how much money could be made by killing Bitcoin and pumping his own currency, that will absolutely happen).

That sounds like outright market manipulation, to be honest.
I know there were some rumors on whether Trump (or some of his children) had started their own official token or cryptocurrency, but it sounds unrealistic to me, to be honest. They do not have any reason to try to grift the crypto community, they still have many options to get money for legal fees Trump could be facing.
It is more likely those Trump coins which have been appearing on the market are attempts by clever scammers to attract liquidity and then pull the rug from underneath the feet of those investors/gamblers. (To me, having a significant stake on a memecoin based on Trump is more gambling than investing).

If it turns out Trump actually has a coin and have been doing some market manipulation on it for his own sake, then it would be another criminal case for his collection of cases... Nothing new there, though, it would be a nrw low for him.

[legiteum]

i can’t see the connection between trump and centralization or did i miss anything? is trump offering his own platform where you can buy bitcoins from? bitcoin will not be connected to trump no matter how much he talks about it.

I didn't mean to imply that he would (although if his people ever figure out how much money could be made by killing Bitcoin and pumping his own currency, that will absolutely happen).

That sounds like outright market manipulation, to be honest.

Trump is guilty of crimes far more serious than market manipulation, and his voters don't care. If market manipulation will make him the richest man in the world, then no "law" is going to hold him back.

Frankly, the only reason he won't do it, if he doesn't do it, is because he won't get around to it.

They do not have any reason to try to grift the crypto community, they still have many options to get money for legal fees Trump could be facing.

Huh? What are you talking about. Bitcoin's market cap is $1.5 trillion. A potential Trump replacement of that could make him even more than that. Legal fees? Are you serious?

It is more likely those Trump coins which have been appearing on the market are attempts by clever scammers to attract liquidity and then pull the rug from underneath the feet of those investors/gamblers. (To me, having a significant stake on a memecoin based on Trump is more gambling than investing).

Normally that would be the case. But when Trump's SEC says that Bitcoin must be abolished because it can be used to fund illegal abortions, and only "approve" currencies are legal, then a potential Trump memecoin would easily surpass the value of today's Bitcoin.

With the entire power of the US federal government at your disposal, anything--literally anything--is possible.

[Franctoshi]

i can’t see the connection between trump and centralization or did i miss anything? is trump offering his own platform where you can buy bitcoins from? bitcoin will not be connected to trump no matter how much he talks about it.

I didn't mean to imply that he would (although if his people ever figure out how much money could be made by killing Bitcoin and pumping his own currency, that will absolutely happen).

Bitcoin is the king of crypto and I don't really see how possible it will become at this point in time for any government to kill Bitcoin, you think they haven't been trying Op? Decentralisation has made it difficult for the government around the world, and I'm more of think they don't have any other options left than to adopt it with stricter regulations which we have seen with this administration failure through SEC to try to come out with its regulatory clarity.

[legiteum]

Bitcoin is the king of crypto and I don't really see how possible it will become at this point in time for any government to kill Bitcoin, you think they haven't been trying Op? Decentralisation has made it difficult for the government around the world, and I'm more of think they don't have any other options left than to adopt it with stricter regulations which we have seen with this administration failure through SEC to try to come out with its regulatory clarity.

A mere gesture by the president of the United States could send the price of Bitcoin down by 95%.

And as we've discussed at length in another thread, Bitcoin is currently controlled, effectively, by only two well-known companies who provide the majority of the hashrate. Any major government could compel them to do whatever they want with Bitcoin.

The Biden administration oversaw the approval of the Bitcoin ETF, and oversaw it's appreciation of 500%. Biden has been very, very good for Bitcoin prices.

[passwordnow]

I think it was a perfect moment when Biden was elected in office 3 years ago, it was during the bull run and halving was done at that time. Next, if he wins again then we'd surely see another perfect timing on him because this year is when the halving happened and by next year, the bull run is about to happen again. Whether it's him or Trump wins, the connection of them sitting in the position is given that Bitcoin's price is going to be up by that time.

IIRC, Biden was once said that he'd make some rules and regulations about Bitcoin upon sitting as the POTUS but nothing much came from those words. But whomever gets into the office, we'd all agree that Bitcoin is nowhere to go but only up.

[Die_empty]

Both Biden and Trump cannot be trusted, so I don't take them seriously. But I will have to agree that the approval of Bitcoin ETF in the US contributed to the price hike of Bitcoin and credits should be given to Biden. At least it was during his administration that it was approved. However, when measuring Biden with privacy and freedom, he has scored zero. It was during his tenure that Bitcoin faced the fiercest attack on its decentralized nature. Many firms that offer privacy services were attacked and some of them have been closed down by the government. I can summarize that Biden only increased regulation and made money for the US government through fines and penalties.

Trump has made so many promises to the crypto community. But we all know he was once president and he did nothing positive for the community. He was a well-known critic of the crypto industry. But people can change their views about life and that's what he is portraying. And from what I saw in the first presidential debate, he has increased his chances of returning to the White House.

[CryptoHeadlineNews]

They do not have any reason to try to grift the crypto community, they still have many options to get money for legal fees Trump could be facing.

Huh? What are you talking about. Bitcoin's market cap is $1.5 trillion. A potential Trump replacement of that could make him even more than that. Legal fees? Are you serious?

So what makes you think if a potential Trump's coin replacement is been launched today it will have such market cap of $1.5 trillion as Bitcoin in either a year or five years time? Or do you forget that Bitcoin as a decentralized digital currency, it's value is not been centered about U.S market alone, but globally, which means if Trump eventually happens to launch his coin, it can never be compared or what valuable as Bitcoin, because Bitcoin remains the king of all cryptocurrencies.

[legiteum]

So what makes you think if a potential Trump's coin replacement is been launched today it will have such market cap of $1.5 trillion as Bitcoin in either a year or five years time? Or do you forget that Bitcoin as a decentralized digital currency, it's value is not been centered about U.S market alone, but globally, which means if Trump eventually happens to launch his coin, it can never be compared or what valuable as Bitcoin, because Bitcoin remains the king of all cryptocurrencies.

Today? It wouldn't.

A year from now, after Trump has been sworn in as president and has started his war on Bitcoin, saying it's "bad" whereas his personal currency is "good"? And he commits the full force of the US government behind that?

And you forget that Bitcoin's value is derived in large part by American retail investors and if they all leave the market, the "king" will lose 90% of its value while Trump's currency would be the most valuable in the world, thus dethroning Bitcoin.

[CryptoHeadlineNews]

So what makes you think if a potential Trump's coin replacement is been launched today it will have such market cap of $1.5 trillion as Bitcoin in either a year or five years time? Or do you forget that Bitcoin as a decentralized digital currency, it's value is not been centered about U.S market alone, but globally, which means if Trump eventually happens to launch his coin, it can never be compared or what valuable as Bitcoin, because Bitcoin remains the king of all cryptocurrencies.

Today? It wouldn't.

A year from now, after Trump has been sworn in as president and has started his war on Bitcoin, saying it's "bad" whereas his personal currency is "good"? And he commits the full force of the US government behind that?

And you forget that Bitcoin's value is derived in large part by American retail investors and if they all leave the market, the "king" will lose 90% of its value while Trump's currency would be the most valuable in the world, thus dethroning Bitcoin.

Yes, it's true that U.S has the highest percentage of people that invested in Bitcoin/cryptocurrency, but yet that doesn't guarantee that if Trump eventually succeed in creating an unfavorable environment for Bitcoin, that it's numerous retailers will authenticity leave Bitcoin to invest in Trump's coin, as many will love to invest elsewhere, real estate or probably other valuable altcoins, than investing in this Trump's coin which is likely to only remain valuable or relevant only while he is still on the seat as the president of the United States. So on the contrary, these are just mere speculation.


Image credit: www.visualcapitalist.com

[legiteum]

Yes, it's true that U.S has the highest percentage of people that invested in Bitcoin/cryptocurrency, but yet that doesn't guarantee that if Trump eventually succeed in creating an unfavorable environment for Bitcoin, that it's numerous retailers will authenticity leave Bitcoin to invest in Trump's coin, as many will love to invest elsewhere, real estate or probably other valuable altcoins, than investing in this Trump's coin which is likely to only remain valuable or relevant only while he is still on the seat as the president of the United States. So on the contrary, these are just mere speculation.

Are you serious? Remember what FTX did to spook the market--and make Bitcoin crash by what? 80%?

The US president coming out against Bitcoin directly--and promising to replace it--would absolutely devastate the market. We're talking about the full power of the US government here. Imagine US banks being forbidden to do business with any business that deals in Bitcoin. Etc. etc. And Trump could do most of this without even consulting Congress.

And real estate is absolute peanuts compared to the hundreds of billions Trump could make by replacing Bitcoin with his own currency.

As to whether it would remain valuable after he is out of office, well, that's a good point, but he's likely to be in office for a very long time (think Vladimir Putin).

Personally I would dump out of Bitcoin if Trump gets elected. But that's just me...

[Hispo]

They do not have any reason to try to grift the crypto community, they still have many options to get money for legal fees Trump could be facing.

Huh? What are you talking about. Bitcoin's market cap is $1.5 trillion. A potential Trump replacement of that could make him even more than that. Legal fees? Are you serious?

So what makes you think if a potential Trump's coin replacement is been launched today it will have such market cap of $1.5 trillion as Bitcoin in either a year or five years time? Or do you forget that Bitcoin as a decentralized digital currency, it's value is not been centered about U.S market alone, but globally, which means if Trump eventually happens to launch his coin, it can never be compared or what valuable as Bitcoin, because Bitcoin remains the king of all cryptocurrencies.

Don't get me wrong. If Trump officially launches his official shitcoin tomorrow, it would undoubtly attract much liquidity and the market capitalization of the shitcoin could even place it among the Top one hundred of this ecosystem, but it would not last long. In my eyes, it would turn into just another way for people to gamble their money in this market, people are excited and feel like engaging in politics right now, it is normal, but whoever wins the incoming election and as time passes by, then investors will start to forget about politics, the volume of the shitcoin will start to decrease and it would flatline as every shitcoin in this market does.
Unlike a shitcoin which would be tethered to the cult of personality of Trump, Bitcoin is actually decentralized and does not need politics to fuel it's price, offer and demand does that job.

[legiteum]

Don't get me wrong. If Trump officially launches his official shitcoin tomorrow, it would undoubtly attract much liquidity and the market capitalization of the shitcoin could even place it among the Top one hundred of this ecosystem, but it would not last long. In my eyes, it would turn into just another way for people to gamble their money in this market, people are excited and feel like engaging in politics right now, it is normal, but whoever wins the incoming election and as time passes by, then investors will start to forget about politics, the volume of the shitcoin will start to decrease and it would flatline as every shitcoin in this market does.
Unlike a shitcoin which would be tethered to the cult of personality of Trump, Bitcoin is actually decentralized and does not need politics to fuel it's price, offer and demand does that job.

Again, nobody here is talking about a memecoin that Trump starts today, and obviously that would get nowhere (we have a Trump coin on Haypenny but it's about the card game ).

I'm talking about what would happen to Bitcoin after Trump is essentially anointed the first dictator of the United States e.g. when a plurality of Americans reward a criminal's behavior with the presidency.

All Trump would need to do is send a few agencies like the DOJ and the SEC after Bitcoin to effectively outlaw it, and rearrange the rules so that only Trump's coin was considered legal. That would harpoon Bitcoin and life Trump's currency to Bitcoin-like levels.

China and Russia have been doing this sort of thing in their respective countries for years, favoring companies that are close to the regime and essentially ripping off the businesses of multinationals. The US has never had anything close to this, but the US has never had anything close to Trump, either.

And decentralized? That might (might) keep Bitcoin from being completely erased, but any sort of gesture from the US government would send the price down by 90% or more. Maybe Bitcoin still "exists", but at a market cap comparable to unknown memecoins, not as the "king of crypto".

Bitcoin's price is driven by millions of (mostly American) consumer investors investing in Bitcoin, not "decentralization" (which most investors don't even know what it is, and they don't use Bitcoin that way either).