Do you think Trump is Bluffing or Deceiving the Bitcoin Community?

[pakhitheboss]

The upcoming US election has been the greatest thriller movie for me as I have followed it since this year. The chance of Trump becoming the next President is very high after Biden drops out of the race. Meanwhile, the Bitcoin community has extended its support to Trump and invited him to the Bitcoin conference in 2024. He had assured the community at his speech that he would and I quote below

The Republican nominee for US president pledged to commute Ross Ulbricht’s sentence, fire SEC Chair Gary Gensler, and have all Bitcoin mined in the United States.

Yesterday in an interview he gave a new statement which I am quoting below.

"Who knows? Maybe we'll pay off our 35 trillion dollars, hand them a little crypto check, right?" Trump suggested to Fox Business' Maria Bartiromo in an interview. "We'll hand them a little bitcoin and wipe out our $35 trillion."

Source

What do you think is he bluffing with the statement above or is he deceiving the community to gain vote and become the next President of the US?

[Poker Player]

No, not bluffing. It does so out of pure electoral interest, of course. On the one hand there are quite a few convinced bitcoiners among his party, among them the VP, on the other hand, there is a lot of money at stake with the mining industry, and to conclude cryptocurrency donations are breaking records. So he has seen that this is what suits him electorally. More when Biden-Harris were going to launch the CBDCs and they were about to put a tax on mining:

Biden’s Nonsensical Proposed 30% Tax Would Kill Bitcoin Mining in the U.S.

[pakhitheboss]

No, not bluffing. It does so out of pure electoral interest, of course. On the one hand there are quite a few convinced bitcoiners among his party, among them the VP, on the other hand, there is a lot of money at stake with the mining industry, and to conclude cryptocurrency donations are breaking records. So he has seen that this is what suits him electorally. More when Biden-Harris were going to launch the CBDCs and they were about to put a tax on mining:

As a politician to regain his power, he might bluff which is understood. What I cannot swallow he is planning to use Bitcoin as a way to reduce the debt. Is not what Bitcoin was meant to do to counter USD and create a world free of it. It is not going to happen and we will see Bitcoin being used to fed the USD debt which all pf you would endorse till today. They have already got those Bitcoin with ways that I think will be an end tp BTC.

[HeRetiK]

What do you think is he bluffing with the statement above or is he deceiving the community to gain vote and become the next President of the US?

Bluffing, how? There's not even enough Bitcoin in circulation to pay off that amount of debt. Bluffing still requires a chance of your "bluff" being potentially real.

His talk about "crypto checks" also points towards a complete lack of interest in crypto, other than Bitcoiners being potential voters to sway. At least to me that seems like all talk but no substance.

[pakhitheboss]

What do you think is he bluffing with the statement above or is he deceiving the community to gain vote and become the next President of the US?

Bluffing, how? There's not even enough Bitcoin in circulation to pay off that amount of debt. Bluffing still requires a chance of your "bluff" being potentially real.

Is not that what is known as a bluff when there is not a lot of Bitcoin in circulation? I would love to see whether this guy is able to remove the 35 trillion debt by selling the Bitcoin seized or being held through the approved ETFs.

His talk about "crypto checks" also points towards a complete lack of interest in crypto, other than Bitcoiners being potential voters to sway. At least to me that seems like all talk but no substance.

He is known to blabber but he did make America stronger than it was before Biden came into power 

[HeRetiK]

What do you think is he bluffing with the statement above or is he deceiving the community to gain vote and become the next President of the US?

Bluffing, how? There's not even enough Bitcoin in circulation to pay off that amount of debt. Bluffing still requires a chance of your "bluff" being potentially real.

Is not that what is known as a bluff when there is not a lot of Bitcoin in circulation? I would love to see whether this guy is able to remove the 35 trillion debt by selling the Bitcoin seized or being held through the approved ETFs.

Is it a bluff to claim having 5 aces when playing poker? Not arguing semantics, I'm just unsure whether claiming something that is obviously impossible can still be called a bluff.

35 trillion is roughly 30x Bitcoin's current market cap.

His talk about "crypto checks" also points towards a complete lack of interest in crypto, other than Bitcoiners being potential voters to sway. At least to me that seems like all talk but no substance.

He is known to blabber but he did make America stronger than it was before Biden came into power 

Did he? I'm not American so I wouldn't know.

[zasad@]

I recently had an acquaintance tell me an anecdote about Trump.

"Trump dies, he is met by angels in the sky and told that he has worked hard for his country and has a choice of where to go to live. He is given a choice to live a day in hell and a day in heaven and then Trump will have a choice of where he will live forever.

First, Trump decides to see a place in Hell.  There is a lot of fire, there is a celebration going on, he meets a lot of his friends, everyone is drinking whatever they want, dancing. He spends a day in Hell and is taken by his angels to Paradise.

In Paradise it is beautiful, the sun shines, houses of gold and silver, but it is boring, and his acquaintances are not there.

The day is over and the angels ask Trump what place he chooses.
He chooses Hell because his acquaintances are there and it's fun.

He is sent to Hell and as soon as he gets there he sees that there is a lot of fire and all the inhabitants are suffering a lot.
Trump is outraged and says he was tricked, but they tell him he wasn't tricked. The day before yesterday there was an election campaign in Hell to elect a chief demon, When he was in Heaven there was an election.
And today the election is over.. "

[UmerIdrees]

No, not bluffing. It does so out of pure electoral interest, of course. On the one hand there are quite a few convinced bitcoiners among his party, among them the VP, on the other hand, there is a lot of money at stake with the mining industry, and to conclude cryptocurrency donations are breaking records. So he has seen that this is what suits him electorally. More when Biden-Harris were going to launch the CBDCs and they were about to put a tax on mining:

As a politician to regain his power, he might bluff which is understood. What I cannot swallow he is planning to use Bitcoin as a way to reduce the debt. Is not what Bitcoin was meant to do to counter USD and create a world free of it. It is not going to happen and we will see Bitcoin being used to fed the USD debt which all pf you would endorse till today. They have already got those Bitcoin with ways that I think will be an end tp BTC.

He may put Bitcoin in the national reserve and other promises that I heard about Trump being positive about Bitcoin but i too agree that under no circumstances he will bring a Dollar vs Bitcoin situation and he will never make policies to promote Bitcoin over US dollar. This is never the plan.
By the way, I will not say that he is bluffing as he will make the bitcoin friendly policies and would not let the SEC to put restrictions on bitcoins and cryptocurrencies.

[pakhitheboss]

Read all the replies and thank you guys for contributing to this thread. In reality I also do no think that selling Bitcoin can solve the US debt problem. He might have said it as a joke but he looks confident when dealing with those who are not allowing Bitcoin to thrive. As a matter of fact the media outlets did post that SEC chairman would resign from his post in 2025 before he saying that he will fire him after being elected. I also feel it is a bluff to satisfy the media

[zasad@]

Read all the replies and thank you guys for contributing to this thread. In reality I also do no think that selling Bitcoin can solve the US debt problem. He might have said it as a joke but he looks confident when dealing with those who are not allowing Bitcoin to thrive. As a matter of fact the media outlets did post that SEC chairman would resign from his post in 2025 before he saying that he will fire him after being elected. I also feel it is a bluff to satisfy the media

Just think about it. Bitcoin is now the largest decentralized asset that allows you to move assets under sanctions and does not require large suitcases like cash.
The crypto market is very important for the US because many crypto companies are forced to buy US Treasuries.
US policy for the World will not change. There is a difference if you live in the US and have a business there.
That is why I read the news about who will fire whom after the elections, but I do not take it seriously.

[bbc.reporter]

@pakhitheboss. I am supportive, however, I am skeptical. I have mentioned this before, we will only witness a real procrypto government if the Trump administration will do these 4 policies.

1. They will stop their cases against Uniswap and Coinbase.
2. The SEC will create clear guidelines in what is an illegal security and what is a commodity.
3. They create new KYC rules because their old rules have been difficult for the people in the cryptospace.
4. They will stop treating the Tornado Cash founders and other developers of privacy software very much like criminals.

[FinneysTrueVision]

The statement about paying off the national debt with bitcoin doesn’t make much sense to me. His understanding of Bitcoin is very limited, but he will keep saying these sort of things if it makes him appear to be pro-crypto. It will be hard for him to back out of certain promises, like commuting Ross’ sentence. While this would be a nice gesture, there is still a lot more action needed to prove that he isn’t just a demagogue and is actually looking to create a friendly environment for cryptocurrency in the United States.

From looking at his sons and all the scammy altcoin stuff they’ve been peddling on social media, my impression is that this is just another grift by Trump.

@pakhitheboss. I am supportive, however, I am skeptical. I have mentioned this before, we will only witness a real procrypto government if the Trump administration will do these 4 policies.

1. They will stop their cases against Uniswap and Coinbase.
2. The SEC will create clear guidelines in what is an illegal security and what is a commodity.
3. They create new KYC rules because their old rules have been difficult for the people in the cryptospace.
4. They will stop treating the Tornado Cash founders and other developers of privacy software very much like criminals.

#3 and #4 don’t seem too plausible because it is not something that his donors get much benefit from. It doesn’t matter what party is in control, the government hates privacy and loves surveillance. Furthermore, there are other potential Trump policies that could greatly undermine civil liberties.

[YOSHIE]

What do you think is he bluffing with the statement above or is he deceiving the community to gain vote and become the next President of the US?

I often read The Personality Profile and Leadership Style of U.S. President Donald J. Trump., for example:

Trump’s executive leadership style in office has been bold, competitive, and self-assured (i.e., ambitious); tough and directive (i.e., dominant); impulsive and undisciplined (i.e., outgoing); and disruptively tradition-defying, with an inclination to shade the truth and skirt the law (i.e., dauntless).

From the quote above, we can conclude that Trump is not playing around with his words, his character is legally aggressive, he is brave in making decisions and competitive.
meaning: if he says something he will do it, so I don't think it's a bluff, if he becomes president he really does it.

Your question was answered from Donald J. Trump's personal data, whether it was a bluff or actually came true, I think it was really done.

[avikz]

I honestly think Donald Trump is bluffing. He is a businessman at heart and a very intelligent person. He understands the gap in the market and seeing the crypto users are getting harrassed by the US enforcement agencies since last few years. So it's highly likely that he is trying generate votes for himself and it is very much possible that he would not do anything at all once he is elected.

But that's all for future. We are yet to see any actions. There's literally no way for us to verify his intentions. So let's wait and watch!

[bbc.reporter]

The statement about paying off the national debt with bitcoin doesn’t make much sense to me. His understanding of Bitcoin is very limited, but he will keep saying these sort of things if it makes him appear to be pro-crypto. It will be hard for him to back out of certain promises, like commuting Ross’ sentence. While this would be a nice gesture, there is still a lot more action needed to prove that he isn’t just a demagogue and is actually looking to create a friendly environment for cryptocurrency in the United States.

From looking at his sons and all the scammy altcoin stuff they’ve been peddling on social media, my impression is that this is just another grift by Trump.

@pakhitheboss. I am supportive, however, I am skeptical. I have mentioned this before, we will only witness a real procrypto government if the Trump administration will do these 4 policies.

1. They will stop their cases against Uniswap and Coinbase.
2. The SEC will create clear guidelines in what is an illegal security and what is a commodity.
3. They create new KYC rules because their old rules have been difficult for the people in the cryptospace.
4. They will stop treating the Tornado Cash founders and other developers of privacy software very much like criminals.

#3 and #4 don’t seem too plausible because it is not something that his donors get much benefit from. It doesn’t matter what party is in control, the government hates privacy and loves surveillance. Furthermore, there are other potential Trump policies that could greatly undermine civil liberties.

Telling everyone during a speech about this paying the national debt dream with bitcoin might have tricked people on 2015 where many bitcoiners were very much naive, however, presently the community is very skeptical. This promise is very headshaking and this might have an opposite reaction from people and cause them to be more skeptical on Trump.

In any case, if an administration cannot give no.3 and no.4, I reckon that it is not a real procrypto government.

[yhiaali3]

I believe Trump in one thing, which is that he will seek to make Bitcoin completely American, I think this is what he is seriously seeking by controlling Bitcoin and making it less decentralized by owning large amounts of Bitcoin and by authorizing the mining of all remaining Bitcoin in the United States.

Trump is an economist and politician, so he certainly sees that opening up to Bitcoin and cryptocurrencies is more profitable economically than banning them, and politically, by controlling mining pools, he can create his own blacklist to prevent countries or individuals from evading sanctions with Bitcoin by banning their transactions.

[zasad@]

I believe Trump in one thing, which is that he will seek to make Bitcoin completely American, I think this is what he is seriously seeking by controlling Bitcoin and making it less decentralized by owning large amounts of Bitcoin and by authorizing the mining of all remaining Bitcoin in the United States.

Trump is an economist and politician, so he certainly sees that opening up to Bitcoin and cryptocurrencies is more profitable economically than banning them, and politically, by controlling mining pools, he can create his own blacklist to prevent countries or individuals from evading sanctions with Bitcoin by banning their transactions.

This looks really funny. With all the desire the U.S. can not make bitcoin centralized without changing the algorithm, and even if all U.S. pools will adhere to the sanctions, the Russian pools will not comply with these sanctions.

[yhiaali3]

This looks really funny. With all the desire the U.S. can not make bitcoin centralized without changing the algorithm, and even if all U.S. pools will adhere to the sanctions, the Russian pools will not comply with these sanctions.

The US certainly can’t centralize Bitcoin directly but it can contain it or make it less decentralized by acquiring large amounts of Bitcoin and subjecting Bitcoin ETFs, mining pools and third-party services to US government regulations.

I’m not saying he will succeed in centralizing Bitcoin but I think that’s what he really wants even though his campaign statements promise a more open environment.

[kryptqnick]

While Trump's chance of getting elected remains high, I actually think it's lower now that Biden dropped out, that the Democrats have a decent candidate. In any case, I think Trump is primarily a very pragmatic person. Pragmatism as a philosophical approach was actually developed in the US in the previous century, so it's not surprising that political leaders follow it. What I mean is that Trump will do what he will believe is in his best interest to do to have the support of the people. Right now, the goal is to win the election. If he doesn't win, pushing for pro-crypto policies will no longer be in his interest, so I think he won't do it. But if he wins, he might stick with it if it ends up being important to a very significant part of his electorate.

[retreat]

Who would believe what these politicians say? They only move according to what they want to achieve - no one really cares about Bitcoin - and what he said about paying off debt with crypto is just empty talk. But at least what Trump has said so far can more or less give a little picture of his policy towards Bitcoin if he becomes president in the future. Maybe he will not fulfill all his political promises towards Bitcoin, but at least 1 or more of his policies are pro Bitcoin and maybe that will make Bitcoin's "footing" in the US market more stable and that could affect the value of Bitcoin in the future.