Kamala Harris might continue crackdowns on Bitcoin and the cryptospace

[tabas]

IMHO, it doesn't matter who wins if the goal is related to cryptocurrencies. None of the past administrations had done much to the space. While the state officials are doing their thing like acceptance or laws that discourage anything about Bitcoin, it's not wholly related to the POTUS as they're like doing what they do that will be good for their state.

For example: Texas Senate Passes Bill to Limit Bitcoin Miners' Participation in Demand Response Programs

There is the influence but I don't think that both or all of these candidates are interested to get their first touch about anything related to Bitcoin as the state mayors and officials are the ones that really does the job. CMIIW.

[CryptoBuds]

Why is that? They are anti-freedom communists. It is not really that hard to understand it. They don’t like capitalism, they don’t like the right to own a property, they don’t like any of these. All they like is free stuff and free stuff don’t grow on trees. Somebody has to work to manufacture it and that’s where you understand what it is all about: Theft.

Yeah, "communists" approved the Bitcoin and Ether ETFs.

Get real, man...

Bitcoin ETFs were initiated many years ago and their adoption is only a matter of time. If it does not pass under Biden's term, it will also pass during Trump's next term because no one can stop the development of bitcoin. Additionally, the adoption of ETFs means they will collect a significant amount of tax revenue and no government hates taxes so there is no need to emphasize this too much. Bitcoin ETF is inevitable.

If they are not against bitcoin and cryptocurrencies, why does Biden want to increase taxes on the bitcoin mining industry, why do they support the SEC in trying to hinder the development of cryptocurrencies?

[coolcoinz]

Legiteum is talking like the SEC approved ETFs because out of their own free will. No, they did not want to do it, just look at the interview with Gensler after the approval where he looks resigned and gives the impression he was pressured to do it by the court.

In reality the SEC approved futures but did not want to approve spot ETF as they knew it could impact the price, since spot ETFs have to own physical bitcoin. They lost in court due to the fact that both spot and futures ETFs are similar instruments and you cannot allow one of them to function while denying every motion for the other. It was a deliberate play by the SEC to delay spot ETFs and keep price of bitcoin low.

Bottom line, the SEC lost the court case and was forced to approve all spot ETFs. The mere fact that the SEC went to court instead of settling is a strong proof that Gensler thought he could win and continue denying ETFs.

Democrats are not friendly towards cryptocurrencies. Prove me wrong.

[legiteum]

Democrats are not friendly towards cryptocurrencies. Prove me wrong.

Bitcoin went up 500% under president Biden.

The US remains the world leader in Bitcoin hashrate.

The ETFs were approved under Biden.

US citizens are far and away the largest holders of Bitcoin and other cryptos.

Thousands of crypto-related businesses in the USA have thrived under Biden.

This has nothing to do with Bitcoin. You want abortion to be illegal in the USA, and you want the senile old racist to be president here so he can do that. No rational person could trust Trump to deal with something as complicated as Bitcoin when, in his podcast with Elon Musk, he went on and on about "nuclear warming" which is incoherent nonsense.

But you trust Trump 100%. That's crazy. And there's only one explanation, which is that you are supporter of the Republican agenda to make abortion illegal in the USA. I get it: "babies" are being "murdered" every day, and you want to build the largest police state the USA has ever seen to stop women from leaving our country to have abortions. That's your opinion. Fine.

But it has nothing to do with Bitcoin.

[kryptqnick]

Bitcoin doesn't depend on the US political and economic climate. It's been growing over the years and having its own bear markets in between regardless of who was the US President. So while it would be nice to see more favourable policies from the US, Bitcoin can do just fine without them. The people most affected as the US citizens and residents themselves, of course.
I don't know if she's working with Deese and Ramamurti or not, but being against stablecoins isn't the same as being against Bitcoin.
I think Bitcoin is just not high on the list of Harris's priorities, but that's not bad per se.

[Quickseller]

Harris will certainly continue crackdowns on Bitcoin-related companies. She is very likely to be far worse. She wants to seize the means of production, and bitcoin will get in the way of this.

Whoever becomes US president will not stop the growth of bitcoin, Bitcoin has been in existence since 2009 until now and that means it has gone through 4 different US presidents. But if anti-bitcoin, unfriendly crypto-people like Biden or Gary continue to hold power, our development will slow down. Meanwhile, if we get the support of people who have a more open view of bitcoin and cryptocurrency, it will help us grow a little faster. So it will depend on what people want and decide who to vote for.

Biden's policies have resulted in less investment in US-based crypto companies, and for crypto-related companies to cease operations in the US. This results in other countries getting these investment dollars, and other countries benefiting from innovation related to crypto currencies, including bitcoin.

[pooya87]

Arthur Hayes certainly speculates that it will not matter if a Republican or Democrat will win. He predicts that bitcoin and the cryptospace will certainly pump under Trump or Harris hehehehe.

I don't know who this dude is but the statement is correct. It doesn't matter who becomes POTUS, bitcoin will continue going up as its adoption grows. For the past 15 years there has been different presidents in the Oval Office and bitcoin kept on rising. The only difference is that certain moves can slow it down temporarily.

And besides, in case you have forgotten there is an entire world outside USA that doesn't care who the US president is that's like 96% of the earth population.

The people in social media are beginning to call Harris a communist hehehe.

That’s the same braindead argument Republicans tried to use against Obama and Joe Biden.

Well they are communist-like policies. And you know what? They are not bad! That is what every government anywhere in the world does in the same situation. For good reasons as well. With economic hardship, increasing budget deficit, rising prices and the world falling apart!
The funny part is that I am sure that even if Trump wins, he will eventually follow the same policies... because that is the only solution the economists in our world could manage to come up with so far!

The only problem here is that after The Cold War, Americans are pre-programmed to feel scared when they hear the word "communist"

If the Democratic Party was communist they wouldn’t keep trying to replace Hugo Chavez and Nicolas Maduro with right wing puppets of the US empire.

They do that because Venezuela has one of the largest supplies of oil!

They wouldn’t have bombed Libya back into the stone age.

They did that because Gaddafi was an idiot who bit more than he could chew, he went against the dollar wanting to replace it with a new currency in Africa.

Neither of these two attitudes change with the president or his party by the way.

[hd49728]

I don't know who this dude is but the statement is correct. It doesn't matter who becomes POTUS, bitcoin will continue going up as its adoption grows. For the past 15 years there has been different presidents in the Oval Office and bitcoin kept on rising. The only difference is that certain moves can slow it down temporarily.

It's hard to attribute Bitcoin adoption and price growth during last 15 years since 2009 to any President in the USA. The attribution can be made but it is not easy to provide enough convincing list of reasons to prove it that attribution is accurate. Many things in the USA. are uncontrollable by the President and there are other people, departments, entities that are co-responsible for many things in that national society. Bitcoin has grown up a lot without dependence on past Presidents and is going to expand its growth with its own ways and independence.

And besides, in case you have forgotten there is an entire world outside USA that doesn't care who the US president is that's like 96% of the earth population.

They are only curious about the election, a possible next President in the USA. partially because of noise on social media, televisions and so on. News and noise nowadays can be spread very quickly through the Internet and it magnifies what's happening in the USA. In fact people in other countries must pay attention on what's happening in their homelands and local communities than in the USA.

An interesting article from Grayscale.
Bitcoin, Crypto, and the 2024 US Presidential Election

[yhiaali3]

They are only curious about the election, a possible next President in the USA. partially because of noise on social media, televisions and so on. News and noise nowadays can be spread very quickly through the Internet and it magnifies what's happening in the USA. In fact people in other countries must pay attention on what's happening in their homelands and local communities than in the USA.

Unfortunately, this is what the world is like today. It is true that we have nothing to do with the American elections directly, but their results will affect all countries of the world and Bitcoin and cryptocurrencies as well.

Many people do not know anything about the elections in their countries, but they know everything about the elections in the United States. This is because the American media dominates the media in the world. Although we do not like this, it is the reality.

[bbc.reporter]

Arthur Hayes certainly speculates that it will not matter if a Republican or Democrat will win. He predicts that bitcoin and the cryptospace will certainly pump under Trump or Harris hehehehe.

I don't know who this dude is but the statement is correct. It doesn't matter who becomes POTUS, bitcoin will continue going up as its adoption grows. For the past 15 years there has been different presidents in the Oval Office and bitcoin kept on rising. The only difference is that certain moves can slow it down temporarily.

And besides, in case you have forgotten there is an entire world outside USA that doesn't care who the US president is that's like 96% of the earth population.

Arthur Hayes is the former CEO of Bitmex, the first futures exchange in the cryptospace.

In any case, it appears that there are people in social media that begun sharing information telling everyone that Kamala Harris' economic agenda and policies are 28% corporate tax, 44.6% capital gains tax and 25% tax on unrealized gains. This is very headshaking because this will certainly be very bad for traders of traditional markets and the cryptospace in America hehehe.

[Lucius]

It is unbelievable that so much importance is given to who will be the next president of the US, as if the fate of Bitcoin depends on it (which, unfortunately, many obviously think). Some still believe that Donald Do Not Trust will fulfill all those promises, most of which even he himself does not know what he is actually talking about - and others think that Kamala will be so wicked that she will probably end up banning cryptocurrencies in the US.

The truth is that it is completely irrelevant who will become president, because Bitcoin will remain on the margins of their focus for a long time, regardless of what they say in the election campaigns.

[mindrust]

Kamala the Commie will bring a disaster upon the crypto industry and it is not just crypto tbh, she is a bad pick for the whole Corporate America. As you know communism and capitalism don’t really mix well.

Donald on the other hand is a wellknown successful businessman. He is as capitalist as one can get.

Look at that:

https://www.zerohedge.com/markets/harris-unrealized-gains-tax-would-obliterate-us-economy

On Tuesday, it was announced that Presidential candidate Kamala Harris would be supporting President Joe Biden’s tax proposals for 2025, which include a 44.6% capital gains rate and a 25% tax on unrealized gains.

Whaat tha fuuck?

People still consider voting her? People really lost their minds that much?

[Fiatless]

Unfortunately, this is what the world is like today. It is true that we have nothing to do with the American elections directly, but their results will affect all countries of the world and Bitcoin and cryptocurrencies as well.

Many people do not know anything about the elections in their countries, but they know everything about the elections in the United States. This is because the American media dominates the media in the world. Although we do not like this, it is the reality.

Apart from the United States hosting the largest number of miners and other crypto-related businesses, many countries always copy policies or laws from the US. The US is the political and economic leader of the Western Bloc, so it is common for other allies to adopt similar policies. Hence it is easy to conclude that a crypto-friendly American president might influence other countries to become receptive to the industry.

American media is also playing a key role in hyping economic activities in the US this is why adjustments in the fiscal or monetary policies in the US always affect the price of cryptocurrencies. The US elections will come and go but Bitcoin will continue to be a leading force in the global financial sector. However, I am afraid that with the level of institutional involvement of some major US companies through the ETF, the US will continue to influence the industry.       

[legiteum]

In any case, it appears that there are people in social media that begun sharing information telling everyone that Kamala Harris' economic agenda and policies are 28% corporate tax, 44.6% capital gains tax and 25% tax on unrealized gains. This is very headshaking because this will certainly be very bad for traders of traditional markets and the cryptospace in America hehehe.

The tax is only for people making more than $400,000. Very rich people won't like it, but those people don't like Trump either because of the trade war Trump promises.

Kamala the Commie will bring a disaster upon the crypto industry and it is not just crypto tbh, she is a bad pick for the whole Corporate America. As you know communism and capitalism don’t really mix well.

Donald on the other hand is a wellknown successful businessman. He is as capitalist as one can get.

As people know, fascism and capitalism don't really mix well. Trump will create the largest police state in US history when he makes abortion illegal.

Trump inherited a ton of money from his father and lost about half of it. He is in fact a terrible business man. And also a convicted criminal.

[pooya87]

In any case, it appears that there are people in social media that begun sharing information telling everyone that Kamala Harris' economic agenda and policies are 28% corporate tax, 44.6% capital gains tax and 25% tax on unrealized gains. This is very headshaking because this will certainly be very bad for traders of traditional markets and the cryptospace in America hehehe.

You mean tax rates are going to rise? Weren't you already expecting that to happen regardless of who wins the election?

I mean that's what they always do at times like this! There are two main things happening:
1. Global tensions.
In case you don't know the highest tax rates in US was during WW2 and I believe on 1944 the peak was 94%. As global tensions grow and since US is always part of all the wars, the government is going to need more money so they'll keep increasing tax rates.

2. Inflation
That is like their principle. To battle inflation they try to decrease the amount of money regular people have in their pockets. That decreases the "demand" which would then slows the price rise hence stopping the inflation from rising.
To decrease the amount of money people have they usually increase interest rates (which they've already done) and increase taxes (which is what they've been doing).

Check the history, they've been doing this for many years. Heck, check other countries, we've all been doing the same thing! The idiots in the governments cannot think of any other solution.

[shield132]

My only wish is this speculation on more crackdowns under Kamala Harris' administration will not be true. However, is it certain that bitcoin and the other cryptocoins will not pump if Harris is victorious on November? Arthur Hayes certainly speculates that it will not matter if a Republican or Democrat will win. He predicts that bitcoin and the cryptospace will certainly pump under Trump or Harris hehehehe.

Bitcoin will pump with or without a Trump or Biden or Harris. If the USA bans Bitcoin trading, mining and etc, then the price will significantly go down but I think we are safe because at this point it's the worst decision to ban Bitcoin.
As I see, democrats aren't going to ban it and their strategy is very wise. They approved Bitcoin ETFs, it's a big step in adoption, isn't it? But they'll definitely put regulations to Bitcoin mining and related things.

I don't like democrats, I am not a fan of Trump but he is very overrated in crypto space.

[Doan9269]

I hope the earlier she had realized this the better it could have been, things are fast changing now and we cannot assume for any political plan by their actions during the election time, quite alright, we are all aware of what Trump is up to and has said concerning bitcoin, but we cant predict that of Kamala, though am not condemning her for any reason, but its time the world realizes the importance of bitcoin and the need of the people, which is in bitcoin adoption.

[skarais]

What I have to admit is that whoever US president is elected, bitcoin is not their main focus in the White House.
Bitcoin is just one of the hot topics they will think about during their reign, but it won't take up much of their time as there are plenty of other things that will be on their agenda. I just hope that US regulations will become friendlier to crypto and its users, regardless of who is elected in the campaign later. Kamala seems unfriendly now with crypto (bitcoin), but that doesn't mean Trump can fulfill all the promises he made.

It is unbelievable that so much importance is given to who will be the next president of the US, as if the fate of Bitcoin depends on it (which, unfortunately, many obviously think). Some still believe that Donald Do Not Trust will fulfill all those promises, most of which even he himself does not know what he is actually talking about - and others think that Kamala will be so wicked that she will probably end up banning cryptocurrencies in the US.

The truth is that it is completely irrelevant who will become president, because Bitcoin will remain on the margins of their focus for a long time, regardless of what they say in the election campaigns.

I completely agree with your argument on this. Many things can change over time, those who do not support bitcoin can express their support within a day, while those who support will change their minds due to pressure or otherwise. It can happen in a world full of drama.

[Ale88]

It's always hard for me to understand why the Democratic Party has been and is so against cryptocurrencies when it's pretty clear that, whether they like it or not, they are here to stay, it's not some stupid game. I don't like any of the two candidates for very different reasons but at least Trump is smart enough to understand the power of cryptocurrencies.

Why is that? They are anti-freedom communists. It is not really that hard to understand it. They don’t like capitalism, they don’t like the right to own a property, they don’t like any of these. All they like is free stuff and free stuff don’t grow on trees. Somebody has to work to manufacture it and that’s where you understand what it is all about: Theft.

To be honest, it's kind of hard for me to see the USA as a "anti-freedom communists" country, or politicians, but I understand that the ideas of some of them are going too left. Being American and disliking capitalism sounds so weird, I mean, the whole country is based on that. But besides that it's just plain stupid for them to keep this position, they're beyond stubborn.

[legiteum]

To be honest, it's kind of hard for me to see the USA as a "anti-freedom communists" country, or politicians, but I understand that the ideas of some of them are going too left. Being American and disliking capitalism sounds so weird, I mean, the whole country is based on that. But besides that it's just plain stupid for them to keep this position, they're beyond stubborn.

Republicans will say absolutely anything to get elected.

Sadly, by calling Democrats "communist", all they are doing is erasing what the word even means to their voters. Sorta how campus leftists in the 80s called George Bush, "Nazi". It's just nonsense.