Bitcoin getting in bed with Trump = BAD for Bitcoin

[legiteum]

I don't think the international readers here on the forum fully understand just what sort of divisive figure Trump is.

And the American billionaire Bitcoin whales giving Trump money right now... don't seem to care.

But understand this: either this election or the next, Trump will be out of power. When that happens, he will be remembered as a convicted criminal who betrayed his country and was extremely nasty to women, people of color, LGBTQ people, immigrants, the disabled, and the half of the Republican party who didn't support him. Trump wishes to criminalize abortion and deport millions of people from the US. Both of these things are extremely unpopular in the US.

Trump, in short, will go down in history as the worst president in US history. His own party, who will want to continue to have a chance of holding power, will abandon him and everything he stood for.

By tying Bitcoin to Trump, many are building a brand name for Bitcoin that will be both extremely detrimental to its long-term growth, and very hard to get rid of: Bitcoin will be known as a "Trump thing" for a very long time, if not forever. This is a disaster.

Bitcoin went up 500% under president Biden. Bitcoin doesn't need special favors from a government in order to survive and thrive. But Bitcoin absolutely can be destroyed if Bitcoin is associated with something the American people wish to consign to the ash heap of history.

The Bitcoin community should, at minimum, stay out of US politics. But insofar as members do, they should support the moderate status quo in Washington that was present when Bitcoin doubled in value over and over again--in other words, support VP Harris for president and the Democrats.

[Stepstowealth]

By tying Bitcoin to Trump, many are building a brand name for Bitcoin that will be both extremely detrimental to its long-term growth, and very hard to get rid of: Bitcoin will be known as a "Trump thing" for a very long time, if not forever. This is a disaster.

Bitcoin will never be tied to Trump, or even tagged a Donald Trump thing because bitcoin existed long before Donald Trump started showing interest and support, everyone who is informed is aware of this. Bitcoin does not need Donald Trump or even Biden or VP Harris.

When that happens, he will be remembered as a convicted criminal who betrayed his country and was extremely nasty to women, people of color, LGBTQ people, immigrants, the disabled, and the half of the Republican party who didn't support him. Trump wishes to criminalize abortion and deport millions of people from the US. Both of these things are extremely unpopular in the US.

Although this is not a political discussion, Biden or even VP Harris are not saints either.

[Anne165Hernadez]

Hello!
You raise significant points about the potential long-term implications of associating Bitcoin with controversial figures like Trump. As you noted, Trump’s divisive legacy and his positions on issues like abortion and immigration could taint Bitcoin’s reputation if it's perceived as being linked to his support.

Bitcoin’s value increased significantly under President Biden, suggesting that it can thrive without political favoritism. Tying Bitcoin to contentious political figures might indeed harm its reputation and future growth. The Bitcoin community, ideally, should avoid entangling itself in partisan politics and focus on supporting a stable, moderate approach that fosters growth and acceptance.

Best Regards,
Tell The Bell

[fuguebtc]

Bitcoin doesn't need special favors from a government in order to survive and thrive. But Bitcoin absolutely can be destroyed if Bitcoin is associated with something the American people wish to consign to the ash heap of history.

The United States is still a great power and has influence in every field and industry in the world, but that does not mean they have the right to judge the fate of everything in this world.

The existence and development of bitcoin is decided by the worldwide community, even without the US market, I still believe bitcoin will still exist and grow. You should stop over-exaggerating the US government and its power.

Bitcoin went up 500% under president Biden.

I don't see anyone trying to link bitcoin to Trump, what I see is you trying to link bitcoin to Biden as you keep repeating this in all your comments. It is you who are linking bitcoin to politics, not any of us.

[serjent05]

Bitcoin went up 500% under president Biden. Bitcoin doesn't need special favors from a government in order to survive and thrive. But Bitcoin absolutely can be destroyed if Bitcoin is associated with something the American people wish to consign to the ash heap of history.

One good reason for the Bitcoin price increase during Pres. Biden administration is that the Biden administration is timed when Bitcoin is about to be bullish.  It is just the normal market trend that made Bitcoin went up 500% and not because of  Pres. Biden.  And I think whoever won in this election has nothing to do with Bitcoin's new voyage to hit another ATH in the upcoming months before the Bitcoin market transitions to a bearish season.

The Bitcoin community should, at minimum, stay out of US politics. But insofar as members do, they should support the moderate status quo in Washington that was present when Bitcoin doubled in value over and over again--in other words, support VP Harris for president and the Democrats.

Don't both the bolded parts contradict each other?  I am for neutrality so I believe we as Bitcoin community should not interfere with any national politics.  It will bring a bad taste to the Bitcoin industry if we suck up to government officials and at the end let them control the Bitcoin industry.

[Charles-Tim]

By tying Bitcoin to Trump, many are building a brand name for Bitcoin that will be both extremely detrimental to its long-term growth, and very hard to get rid of: Bitcoin will be known as a "Trump thing" for a very long time, if not forever. This is a disaster.

Bitcoin went up 500% under president Biden. Bitcoin doesn't need special favors from a government in order to survive and thrive. But Bitcoin absolutely can be destroyed if Bitcoin is associated with something the American people wish to consign to the ash heap of history.

This is happening naturally. I do not know why people are so much concerned about what can not be stopped. Trump knows already that people are so much in crypto and he is using it to try to become elected as the next United States president. It is Trump that needs the help of bitcoin enthusiasts and not bitcoin that needs the help of Trump. If Trump won or did not win the election, bitcoin will survive. If Trump wins the election and later went to prison, bitcoin will still survive. Even the whole Chinese government were unable to crackdown how bitcoin is in their country, not to talk of a single person in United States.

[Algominer2]

I don't think the international readers here on the forum fully understand just what sort of divisive figure Trump is.

I'm in UK and we definitely know how divisive Trump is.

Having battled so long against the anti-crypto regime it's just refreshing to see a Presidential candidate attend an actual Bitcoin event. His promises for crypto are worthless and will probably lead to nothing, but even if he is very "pro-bitcoin" president, it won't kill bitcoin. Money is now flowing in from institutions, pensions etc making it a protected asset.

[legiteum]

Bitcoin will never be tied to Trump, or even tagged a Donald Trump thing because bitcoin existed long before Donald Trump started showing interest and support, everyone who is informed is aware of this.

Yes, but this is the first year that millions of dollars in campaign donations have been sent to a single US candidate in the name of Bitcoin and crypto.

Americans are now being "informed", by the millions, that Bitcoin=Trump.

Bitcoin does not need Donald Trump or even Biden or VP Harris.

I agree, but so many in the community don't, and feel the need to pump Trump, the Republicans, and the case of a few of the Bitcoin whales, send them millions of dollars.

When that happens, he will be remembered as a convicted criminal who betrayed his country and was extremely nasty to women, people of color, LGBTQ people, immigrants, the disabled, and the half of the Republican party who didn't support him. Trump wishes to criminalize abortion and deport millions of people from the US. Both of these things are extremely unpopular in the US.

Although this is not a political discussion, Biden or even VP Harris are not saints either.

I only point this out to highlight that roughly half of the USA hates Trump and the Republicans, so from a business standpoint, it's sorta stupid to connect your product to something like that.

Don't both the bolded parts contradict each other?  I am for neutrality so I believe we as Bitcoin community should not interfere with any national politics.  It will bring a bad taste to the Bitcoin industry if we suck up to government officials and at the end let them control the Bitcoin industry.

Those who are campaigning for Trump here and elsewhere keep stating, over and over, that Biden was bad for Bitcoin. That he was "anti-Bitcoin". That his polices around Bitcoin were somehow terrible.

The evidence contradicts that: if he was so terrible, how did Bitcoin go up 500% under president Biden?

Even the whole Chinese government were unable to crackdown how bitcoin is in their country, not to talk of a single person in United States.

First of all, Bitcoin is still legal to hold and trade in China. They merely disallowed financial institutions from keeping it on their balance sheet.

Second, the US is not China. Clearly most Bitcoin is held by Americans.

Third, nobody here is talking about "ending Bitcoin" in the sense of the network no longer functioning, but rather Bitcoin becoming as popular (and thus valuable) as it was 14 years ago when only few thousand people invested in it.

The price of Bitcoin depends on American consumer sentiment. That's why the price is as high as it is. You can complain all you want about how uninformed and volatile those consumers are, but "kicking them out" means kicking out about 90% of Bitcoin's market price.

[AVE5]

The Bitcoin community should, at minimum, stay out of US politics. But insofar as members do, they should support the moderate status quo in Washington that was present when Bitcoin doubled in value over and over again--in other words, support VP Harris for president and the Democrats.

Bitcoin is a financial blockchain community with its self custodial regulatory and has never been tied on politics. The influence Donald Trumps has over bitcoin is that he's just a big Whale bitcoin user such also is people like Elon Musk's. So, their moves pertaining the relativities with the public is usually attractive so, let's abolish that thoughts of Donald Trumps being a govern of bitcoin.
The speculations of bitcoin and Trump is just the fact that he speaks about positive minds about bitcoin and the community wishes to actualization all that promises so, there's need in the need to vote Trump as the US president but yet, it shouldn't be on the view that the bitcoin communities "must" have their mandates for him. Perhaps, Trump is a politician who's not trust worthy.

[kryptqnick]

I don't support Trump in any way. However, we must admit that he has a strong chance of winning the election (it will be a very close race), so it's not quite true that he's not supported by half of Republicans (because such a candidate would never win).
Trump getting into Bitcoin isn't bad either. Not yet, anyway. It's generating media attention and attention that is positive in its sentiment (because it inspires people to believe that the US might become very crypto-friendly pretty soon).
We shouldn't tie Bitcoin to anyone, Trump included. And people should make their choices to vote for the candidates they support on a wide range on policies, not just on cryptos.

[tiCeR]

By tying Bitcoin to Trump, many are building a brand name for Bitcoin that will be both extremely detrimental to its long-term growth, and very hard to get rid of: Bitcoin will be known as a "Trump thing" for a very long time, if not forever. This is a disaster.

Bitcoin went up 500% under president Biden. Bitcoin doesn't need special favors from a government in order to survive and thrive. But Bitcoin absolutely can be destroyed if Bitcoin is associated with something the American people wish to consign to the ash heap of history.

This is happening naturally. I do not know why people are so much concerned about what can not be stopped. Trump knows already that people are so much in crypto and he is using it to try to become elected as the next United States president. It is Trump that needs the help of bitcoin enthusiasts and not bitcoin that needs the help of Trump. If Trump won or did not win the election, bitcoin will survive. If Trump wins the election and later went to prison, bitcoin will still survive. Even the whole Chinese government were unable to crackdown how bitcoin is in their country, not to talk of a single person in United States.

You said bitcoin will survive. This is not about survival, bitcoin will thrive I'd rather say no matter whether Trump will be elected or not. I like how you put it when you said that bitcoin doesn't need Trump, but Trump needs the help of bitcoin (enthusiasts). That is very well said and hits the nail on the head. He has been known for long to be fishing for votes everywhere possible. Let him crack down on bitcoin, as you said, nothing's gonna happen as could be seen at the example of China. It is a prime example because if there is one country surveilling its citizens and trying to crack down on them whenever they can, it is China. Brutal consequences for misbehavior and yet they had to realize there is no chance stopping bitcoin from at least circulating. They could crack down on major exchanges and mining operations, but that's it.

This is what happened when China cracked down on its mining industry last time.



Even after the crackdown it was said that in 2021/2022 despite the crackdown about 20% of the mining operations remained in China, people finding sophisticated ways to hide their setups. Economic incentive outplays restrictive policies even in China and the nature of how bitcoin is generated and how people can participate will give an advantage to miners over the government. How would a government enforce mining restrictions across all China?

[Dunamisx]

I don't think the international readers here on the forum fully understand just what sort of divisive figure Trump is.

And the American billionaire Bitcoin whales giving Trump money right now... don't seem to care.

But understand this: either this election or the next, Trump will be out of power. When that happens, he will be remembered as a convicted criminal who betrayed his country and was extremely nasty to women, people of color, LGBTQ people, immigrants, the disabled, and the half of the Republican party who didn't support him. Trump wishes to criminalize abortion and deport millions of people from the US. Both of these things are extremely unpopular in the US.

If you have been following up with series of discussions on this same topic, you wouldn't have said this because bitcoin is not dependent of any political agenda or propaganda, they may try to play a seek and hide game with bitcoin to its community all because they wanted to achieve their own ambition, but we should not be fooled by all these, cast your vote and don't turn a politician, instead, remain whom you are by strongly adopted a continued use of bitcoin, because its decentralized and will always over every other political policies and agenda under their fiat economy they may implement.

lastly, remember on this

There is no way we can verify the true intentions of these sweet talkers.

But the greatest and the most truthful message came from Edward Snowden  and it reads:

“Cast a vote, but don’t join a cult". “They are not our tribe. They are not your personality. They have their own interests, their own values, their own things they’re chasing. Try to get what you need from them, but don’t give yourself to them, even if you have to vote for them.”

[pawanjain]

By tying Bitcoin to Trump, many are building a brand name for Bitcoin that will be both extremely detrimental to its long-term growth, and very hard to get rid of: Bitcoin will be known as a "Trump thing" for a very long time, if not forever. This is a disaster.

I don't think so. Bitcoin has been here for a long time now and it is know for its own intrinsic value and not because of Trump.
Although bitcoin is in the news these days due to Trump's political campaign but that's just a temporary thing and it will vanish away with time.

Bitcoin went up 500% under president Biden. Bitcoin doesn't need special favors from a government in order to survive and thrive. But Bitcoin absolutely can be destroyed if Bitcoin is associated with something the American people wish to consign to the ash heap of history.

Bitcoin has been increasing in a cyclical period since inception. You said it yourself that bitcoin doesn't need special favors from any government but then why do you say that bitcoin went up 500% under the presidency of Biden.
You should be saying that bitcoin went up 500% since Jan 2021 but even that figure is wrong because Bitcoin was around $36k in Jan 2021.
Which means it went up by 200% - 250% since then.

[legiteum]

By tying Bitcoin to Trump, many are building a brand name for Bitcoin that will be both extremely detrimental to its long-term growth, and very hard to get rid of: Bitcoin will be known as a "Trump thing" for a very long time, if not forever. This is a disaster.

I don't think so. Bitcoin has been here for a long time now and it is know for its own intrinsic value and not because of Trump.
Although bitcoin is in the news these days due to Trump's political campaign but that's just a temporary thing and it will vanish away with time.

But this is the first election in US history that is being called a "Bitcoin election".

In this election, Bitcoin is the biggest single industry donor to the election.

Hundreds of millions of dollars are being spent to tie Bitcoin to Trump and his party (and to US politics generally).

Bitcoin is about to take its place along side of other big Trump-supporting industries like cigarettes, oil, chemicals, and other polluters.

For me, this isn't about politics, it's about business. Tying your product's brand to an extremely divisive political figure is detrimental.

[Die_empty]

I don't think the international readers here on the forum fully understand just what sort of divisive figure Trump is.

From my perspective, Donald Trump is a white supremacist. He has no respect for people of other races, and his criminal records make him the wrong candidate for the presidency. An individual who can invade tax and pay bribes to silence people shouldn't be trusted. His proposed policy of sending immigrants back to their country will fail because he would face stiff opposition from the lawmakers and the court.

By tying Bitcoin to Trump, many are building a brand name for Bitcoin that will be both extremely detrimental to its long-term growth, and very hard to get rid of: Bitcoin will be known as a "Trump thing" for a very long time, if not forever. This is a disaster.

Trump is tying his political dreams to Bitcoin and not the other way. His ambition will not hurt Bitcoin's reputation because Bitcoin is just a currency. Can the dollar be seen as a "Biden thing" or the pound's "Starmer thing"?

The Bitcoin community should, at minimum, stay out of US politics. But insofar as members do, they should support the moderate status quo in Washington that was present when Bitcoin doubled in value over and over again--in other words, support VP Harris for president and the Democrats.

Do we have anything formal group called the Bitcoin community? Bitcoin is decentralized and cannot be related to a group of people sitting in a so-called Bitcoin Conference. Those people supporting or donating Bitcoin to his campaign are businessmen who will want his favor when he makes it to the White House. If you survey on this topic, you might be shocked that many people see Trump's move as politically motivated and not for the good of the Bitcoin space.

[legiteum]

Do we have anything formal group called the Bitcoin community? Bitcoin is decentralized and cannot be related to a group of people sitting in a so-called Bitcoin Conference. Those people supporting or donating Bitcoin to his campaign are businessmen who will want his favor when he makes it to the White House. If you survey on this topic, you might be shocked that many people see Trump's move as politically motivated and not for the good of the Bitcoin space.

I think you are right about much of the community, but there are certainly a lot who are all-in on Trump here and elsewhere, but more importantly, lots of campaign money is coming from the Bitcoin universe and flowing to Trump.

Politics in the US is extremely polarized, with each side alleging the other side is not just of another opinion, but positively evil. That means that any product that ties itself to one of the US "sides" in this argument will be seen as evil to the other "side" (Musk is learning this with Tesla).

And I also get that businesses try to buy favors from politicians, but this is much more dangerous than it has been in the past in the USA because of this polarization.

[BlackHatCoiner]

Bitcoin has survived being called "Ponzi & pyramid scheme", "energy wasteful", "money for criminals", "far-right", "not backed by anything", "controlled by China", "MySpace of cryptocurrencies", and God knows what else.

I'm pretty sure we can survive with media calling it a "Trump thing".

[coolcoinz]

Trump, in short, will go down in history as the worst president in US history.

Aren't you going too far with your hate towards him? Are you trying to tell us that Trump is worse than the president who lied about Iraq threatening the US with nuclear weapons and sacrificed lives of US soldiers to get cheap oil? Or maybe he's worse than the president who sent US forces to Vietnam? He must also be worse than the guy who took US off the gold standard.

he will be remembered as a convicted criminal who betrayed his country and was extremely nasty to women...

Of course... he's more nasty than the president who inserted a cigar into his secretary's vagina and ejaculated on her dress...
You Sir seem to have a very short memory, or maybe it's the fault of poor education or young age.

[cryptosize]

Yet another classic fearmongering topic...

Please, take your pills.

[Mr.right85]

Trump has been the champion for Bitcoin lately, all his campaigns and pro-Bitcoin statements seems to have set him upon the stage more than the election polls would do for most forks.

Eventually, I don’t think his take on Bitcoin is enough to bring some of his perils into the network. Politicians would always use what schemes they’ve got to benefit their purpose but, that has got little to do with Bitcoin.

Yet another classic fearmongering topic...

Please, take your pills.

Simply meaningful and in itself helping.