Trump to enter the crypto business

[legiteum]

This isn't new at all, trump used to have tokens in the past campaign and he knows how to capitalize a campaign with cryptos.

But the exchange idea is new, i like that slogan about the banks, and for sure he will put a bunch of money on his platform, and just think what would happen if he wins the elections, that would be madness because he would be able to inject money to cryptos directly from the gov. Something like El Salvador did.

Yes, but he sure as hell isn't going to pump US taxpayer dollars into anything he does not himself own.

What Trump is on track to do here is own the crypto business in the US in the same way the Sultan of Brunei owns the oil industry in... Brunei.

If you want to compete against the President of the United States of America in your crypto business for now on, then by all means, vote for Trump.

[kentrolla]

Neither Trump not any politician can be trusted when it comes to thier opinion of crypto because we have seen Trump trying to bury Bitcoin in the past but eventually ended up with millions with his NFT and now when he needs support for election he is doing this drama to consolidate crypto vote bank for himself. I don't think this would work everytime but yeah as a businessman he knows crypto industry can offer better profit than traditional businesses hence he and his family are already involved into it and we shouldn't take his politically motivated statements seriously.

[legiteum]

Neither Trump not any politician can be trusted when it comes to thier opinion of crypto because we have seen Trump trying to bury Bitcoin in the past but eventually ended up with millions with his NFT and now when he needs support for election he is doing this drama to consolidate crypto vote bank for himself. I don't think this would work everytime but yeah as a businessman he knows crypto industry can offer better profit than traditional businesses hence he and his family are already involved into it and we shouldn't take his politically motivated statements seriously.

The best advise given out for Trump is: follow what he does, not what he says.

What Trump is doing right now is creating a business to compete in the crypto space. Based on everything he's ever done his whole life--and based on what his voters have thus far asked him to do as president--Trump will use the power of the US government to disadvantage his competitors and advantage himself if he won the presidency.

Everybody who follows massive wealth knows that the actual richest man in the world is Vladimir Putin even if he's not listed as such in Forbes, since he exerts direct control over Russia's economy and effectively owns the wealth of every Russian billionaire. When Trump constantly fawns over Putin, this is what he is jealous of.

[DiMarxist]

I predicted that Trump would introduce a competitor of Bitcoin, and then use his control of the US government to prop up his platform and pass laws to denigrate existing crypto platforms like Bitcoin.

Please keep political discussion in the Politics and society board, there are already too many political discussions clogging this board up.

Exactly and I wanted the moderator ls in the board to be active and vigilant to delete and move threads like this to the appropriate boards and in my view this is to spam the bitcoin discussion board. And if Trump introduces his own cryptocurrency and use his power to influence it then it is not a new thing in the ecosystem, and we have seen many people who are bitcoin whales supporting other cryptocurrencies yet bitcoin is still the highest.
Op has to know that no Centraliced project that comes to the ecosystem and surpass and suppress bitcoin but it must follow the footsteps of other cryptocurrencies.

[legiteum]

Exactly and I wanted the moderator ls in the board to be active and vigilant to delete and move threads like this to the appropriate boards and in my view this is to spam the bitcoin discussion board. And if Trump introduces his own cryptocurrency and use his power to influence it then it is not a new thing in the ecosystem, and we have seen many people who are bitcoin whales supporting other cryptocurrencies yet bitcoin is still the highest.
Op has to know that no Centraliced project that comes to the ecosystem and surpass and suppress bitcoin but it must follow the footsteps of other cryptocurrencies.

How can the former president and potential future president of the United States getting into business to compete with Bitcoin not be a story about Bitcoin?

And if you think politics has no bearing on Bitcoin, not only are you wrong, but nobody seems to agree with you since hundreds of millions of dollars in crypto money is being poured into this election, and there are dozens of pro-Trump posters here that keep repeating the lie that Trump will somehow be better for Bitcoin if he wins, so therefore the Bitcoin community should support Trump.

I personally would love it if Bitcoin had nothing to do with US politics, but that is simply not the real world circa 2024.

[avikz]

Trump Jr. has announced that his family will be entering the cryptocurrency business:

https://cointelegraph.com/news/donald-trump-jr-launching-crypto-platform-take-on-banks

Although the details are still sketchy (which is how they do everything), it's clear that Trump is making a big push into crypto personally.

I have sometimes been called "alarmist" in these forums because I have made predictions about what Trump would do if he wins the presidency. I predicted that Trump would introduce a competitor of Bitcoin, and then use his control of the US government to prop up his platform and pass laws to denigrate existing crypto platforms like Bitcoin.

Well, it looks like my first prediction is about to come true.

Trump already has built-in excuses to come after Bitcoin: he promises to criminalize abortion in the USA, which will require the largest police state created in the USA since the Prohibition in the 1920s (which is how the FBI was invented, for instance). Since Bitcoin and other cryptos can be used to pay for illegal abortions, it will make sense that Americans should be forced to use his "trusted" platform instead of "untrusted" ones like Bitcoin. (And if that excuse doesn't work, they could think of a dozen more).

I would like people to think about what a Trump presidency would mean to Bitcoin and crypto generally.

Trump, a convicted criminal and somebody who has been found guilty of running multiple scams all of his life, will have his own business that competes with Bitcoin and/or the crypto industry, and he will have the full power of the US government to give his own company unfair advantages over competitors. And Trump has demonstrated, over and over again, that he will absolutely use the US presidency to enrich himself at he expense of the American people.

Do you want to compete directly against the President if the United States and his political party with your business? Then by all means vote for Trump.

It sounds like a perfect conspiracy theory to me! US is a free country and its citizens can start a legal business anytime they want. So I don't see a concern if Trump Jr. wants to start a crypto business. But de-integrate Bitcoin from the ecosystem is very similar to banning firearms in Texas! You can pass the law and no one would care! So it's easier said than done!

Bitcoin is an ecosystem and not a platform. Even though US citizens/firms own a majority of the hashpower (around 36%), remaining 64% belongs to other nations. If one fine day, US government decides to ban mining and Bitcoin both, it won't collapse the network. There will be a temporary impact before everything comes back to normal.

Bitcoin is far bigger for only US to control. Talking about competitor, Bitcoin has seen millions of competitors till date. No one was able to come close even by an inch. So bring it on!

[legiteum]

It sounds like a perfect conspiracy theory to me! US is a free country and its citizens can start a legal business anytime they want.

Using the full power of the US federal government to give your business an unfair advantage by leveraging your position as president is not... a free market. Indeed it's the very opposite of a free market.

Bitcoin is far bigger for only US to control. Talking about competitor, Bitcoin has seen millions of competitors till date. No one was able to come close even by an inch. So bring it on!

If the US made Bitcoin illegal--and pressured it's allies to do the same--then yes, Bitcoin may well still "survive" in a technical sense.

But the price of Bitcoin would fall by 95% as the developed world's investors would pull out of it.

If you want Bitcoin to have a competitor in the marketplace whose CEO literally has control of nuclear weapons and the laws of the United States then... vote for Trump.

[moneystery]

Trump, a convicted criminal and somebody who has been found guilty of running multiple scams all of his life, will have his own business that competes with Bitcoin and/or the crypto industry, and he will have the full power of the US government to give his own company unfair advantages over competitors. And Trump has demonstrated, over and over again, that he will absolutely use the US presidency to enrich himself at he expense of the American people.

that's basically just your personal opinion, and it hasn't been proven true that what you said will be like that. and from what you said, it seems like you don't really understand us politics, because even though trump can become president, he can't use his power to control the government to support his business, if he really does that then his political opponents will use it as a weapon to attack him and remove him from his position as president. so there's no need to think too negatively about what he does.

[Mr. Magkaisa]

         -      I would like to inform you that in these cases, the election day in the United States has not yet arrived or taken place, therefore they are still in the campaign. Yes, I am pleased to read that Trump has good intentions when it comes to his plans for Bitcoin.

We still have to acknowledge, though, that Trump's well-intentioned ideas might not materialize or might. Because, when they sit down, simply keep in mind that a lot of things normally change and a lot of the promises made during the campaign period usually end up unfulfilled. Thus, let us hope that he would implement these wise intentions for Bitcoin.

[krishnaverma]

He and his family were already involved with some types of NFT which failed. He is good with his offline business but most of his online attempts to business including own social network have failed badly. So , do not get excited with this announcement.

[Dr.Bitcoin_Strange]

I would like people to think about what a Trump presidency would mean to Bitcoin and crypto generally.

Well, some persons believe that it's going to give them more freedom compare to the previous government of Biden but I don't think so, I think that all this are just plot to get into sit and turn against Bitcoin or even make things more difficult for Bitcoiners to have their freedom. If he doesn't turn against Bitcoin, he might place more regulation on Bitcoin to make the country less crypto friendly. I always have one thought in mind which is, what if he secretly create his own cex and ban every other cex in US.

[Kelward]

Trump, a convicted criminal and somebody who has been found guilty of running multiple scams all of his life, will have his own business that competes with Bitcoin and/or the crypto industry, and he will have the full power of the US government to give his own company unfair advantages over competitors. And Trump has demonstrated, over and over again, that he will absolutely use the US presidency to enrich himself at he expense of the American people.

that's basically just your personal opinion, and it hasn't been proven true that what you said will be like that. and from what you said, it seems like you don't really understand us politics, because even though trump can become president, he can't use his power to control the government to support his business, if he really does that then his political opponents will use it as a weapon to attack him and remove him from his position as president. so there's no need to think too negatively about what he does.

This thread has clearly turned to a debate for pro and anti Trump, presidential bid and it's relevance in this board is that it has a touch of cryptocurrency concerns. I'm not an American but I believe that the average American is informed enough to know the pedigrees of the two contestants and they will decide who to vote for. I don't think that we should judge Donald Trump, on what he's stance on Bitcoin will be when he has not yet won the election yet, but from my observation on what is on ground I think that his stance on cryptocurrency is encouraging so far. I can agree is that if Trump, wins he can not use his powers to control the entire government to support his business, I believe that the opposition will speak against it and he can be impeached. We're talking about America, here.

[ultrloa]

I would like people to think about what a Trump presidency would mean to Bitcoin and crypto generally.

Well, some persons believe that it's going to give them more freedom compare to the previous government of Biden but I don't think so, I think that all this are just plot to get into sit and turn against Bitcoin or even make things more difficult for Bitcoiners to have their freedom. If he doesn't turn against Bitcoin, he might place more regulation on Bitcoin to make the country less crypto friendly. I always have one thought in mind which is, what if he secretly create his own cex and ban every other cex in US.

Thinking bad about intention of Trump is normal since we don't actually know if he's for real. He only became crypto friendly when campaign period starts that's why can't blame other to think about negative about him and don't trust everything what he say. But aside from Trump we don't see any candidate which is actually a Pro bitcoin, what able to see is some gimmicks to make their name appealing and think about people to vote them since they say nice thing about those technologies they are using. But also I don't think he could do your assumptions since somehow USA prohibits monopoly  https://www.ftc.gov/advice-guidance/competition-guidance/guide-antitrust-laws/single-firm-conduct/monopolization-defined and provably many of his critics will denounce him.

[mindrust]

We don’t really know if Trump is pro-crypto (it looks so) but we definitely know demrats are anti-crypto.

Actions speak lauder than words.

[nutildah]

We don’t really know if Trump is pro-crypto (it looks so) but we definitely know demrats are anti-crypto.

Actions speak lauder than words.

Bitcoin reached all-time highs under Democrat leadership, and dropped below $4k in 2020 under Republican leadership. Remember that?

Serious question: How can you possibly care about American politics as a non-American? I don't even care.

[legiteum]

that's basically just your personal opinion, and it hasn't been proven true that what you said will be like that. and from what you said, it seems like you don't really understand us politics, because even though trump can become president, he can't use his power to control the government to support his business, if he really does that then his political opponents will use it as a weapon to attack him and remove him from his position as president. so there's no need to think too negatively about what he does.

You are the one that doesn't understand US politics. Trump funneled millions of dollars into his businesses while he was president last time. Trump is a convicted criminal, so he does not care about any particular "law" and neither do his voters want him to.

Trump was impeached twice for very obvious offenses against the United States in his first term but the absolute control he wields over his own party means that they would never vote to remove him from office--ever, no matter what he did.

Please learn more about US politics and Trump's record before making statements like that.

I can agree is that if Trump, wins he can not use his powers to control the entire government to support his business, I believe that the opposition will speak against it and he can be impeached. We're talking about America, here.

Again, you simply don't understand US politics because if you did you would know that Trump absolutely doesn't care about any US law nor do his voters want him to. His Supreme Court literally just voted that the President operates essentially above the law because they can just call everything they do--including banning Bitcoin for instance--an "official act".

This is to say nothing of Trump's absolute control over Congress that he will have should he win and (most likely) have the majority there: he could simply change the laws to advantage his businesses and disadvantage the others e.g. other CEX's and/or other non-Trump miners, and/or other non-Trump cryptos.

But also I don't think he could do your assumptions since somehow USA prohibits monopoly  https://www.ftc.gov/advice-guidance/competition-guidance/guide-antitrust-laws/single-firm-conduct/monopolization-defined and provably many of his critics will denounce him.

Certain laws in the US exist that... could be changed if you, say, had control over the US government as Trump would.

Folks, the entire point of this thread is to make people understand just how impossible it would be to compete with somebody who essentially makes their own laws.

"Competing" with Trump would be like "competing" with Putin in Russia or Xi in China.

And, LOL, Trump seriously doesn't care about what his "critics" say about him . That's the funniest line yet here .

[MinoRaiola]

Did you notice that? Elon Musk wants to have a live conversation with Donald Trump on X. I can't tell you the topic, but there's a lot of speculation. The party might go on, whether Bitcoin will be a topic... I don't think so, but I'll be watching the news in a few hours and I'm happy to be surprised. They will publish something i think, anything else would just be a waste of time and I cant imagine that with these two. America + Bitcoin + Tesla = X  

Elon Musk

@elonmusk
·
18h
Live conversation on 𝕏 with
@realDonaldTrump
 & me at 8pm ET tomorrow

https://x.com/elonmusk/status/1822799027580137510


https://x.com/elonmusk/status/1823073478481965199

[Elsop]

Is there anyone holdin trump memcoins?

[GreatArkansas]

I really hope that the actions of Donald Trump will not all "intro", we all know the USA presidential election is fast approaching, and these politicians will do anything they want to get the people's hearts.

Now as the Bitcoin market is still hot and hype (price can tell), Bitcoin is really prone to be used as one of the political tools in the incoming elections.
This could happen not only in USA, but for other countries too.

[nutildah]

He and his family were already involved with some types of NFT which failed.

They didn't fail for him -- he made millions by letting 2 NFT projects use his likeness, which he promoted.

And to give credit where its due, he actually onboarded a lot of normies into the crypto space, as they wanted to a piece of digital Trump memorabilia but ain't never seen no got danged blockchainy thing before. So yeah most people who bought a Trump NFT (whether on Polygon or as a Bitcoin Ordinal) are probably down bad, but they don't care. Its like buying a "Super Trump" coffee mug for them, just a way of supporting their guy, and feeling like they are part of the team.