If Donald J. Trump wins, Bitcoin will be better than fine.

[Z-tight]

But if one of Donald Trump and Kamala Harris is elected, they will definitely work for Bitcoin.

What do you even mean by 'work for BTC', is the winner going to be elected 'president of BTC' or president of the United States, i see that a lot of people have to understand things better on this matter.

The topics about Trump and Kamala increases by the day and it does not look like it'll be stopping anytime soon, i think you all have done enough 'campaign' for the candidate you support,, now let's wait for the election to see what's going to happen.

[mirakal]

I can't still have the assurance that Trump will turn bitcoin into better rather than just fine. Why? Because we can't put all our hopes with bitcoin into these politicians who are just good at the beginning but then ignore all their promises when they start to sit on their positions. I can only attest that bitcoin will do better with Trump once he's already in his position and making things possible for bitcoin. But for now, I'm still in doubt with all those impressive words for bitcoin if they are fake or not.

[d5000]

As this seems to be a reaction to my thread I'll answer here too

The Bearish Case for Donny's Bitcoin

1) Gensler is fired and all ICO scams are finally allowed to do whatever they want. The result: A new Ponzicoin appears from nowhere and aspires to get to Luna. But as all Ponzis, eventually it will collapse, not before having fought Ethereum on #2 on Coinmarketcap. That shit rises so high that even many Bitcoiners buy it -- and lose their houses, wives, husbands and pets in that crash and Bitcoin gets down to Sub-Terra again.

2) Donny buys Bitcoin reserves! Everybody is happy and re-buys at 120.000$, confident that the price will go to Mars, along with Elon's rockets.

But someone is not happy. His name is Satoshi Nakamoto. He suddenly re-appears on Bitcointalk with a single post:

Bitcoin has gone the wrong way.

In a few hours, 1 million Bitcoins are moved from old addresses to Binance. As Bitcoiners are weaklings panicking even when 100.000 BTCs from MtGox are returned to their rightful owners, they now directly freak out. Bitcoin falls like a rock down to $10000. Or lower.

3) Donny wins and Bitcoin rises to 100k, Trumpcoiners happily buy more. But he actually does nothing of these benefits to crypto he promised. Bitcoin begins to slide lower and lower. To return to 100k, Bitcoin will take several years - until China unbans Bitcoin in 2029.

There may be more bearish cases for Bitcoin under Donny ...

[Iranus]

I can't still have the assurance that Trump will turn bitcoin into better rather than just fine. Why? Because we can't put all our hopes with bitcoin into these politicians who are just good at the beginning but then ignore all their promises when they start to sit on their positions. I can only attest that bitcoin will do better with Trump once he's already in his position and making things possible for bitcoin. But for now, I'm still in doubt with all those impressive words for bitcoin if they are fake or not.

To be fair, none of us can guarantee that Trump will make Bitcoin better, but there's also no guarantee that Bitcoin will be fine under Harris. As we have seen, the Biden administration is not very friendly to the crypto industry and Harris is part of the current administration, if she continues down that path or becomes harsher then that could also happen.

What we can do is choose and support the candidate that causes the least harm to the crypto industry and it will all be based on each person's judgment and have different choices. We should not put our full faith in any candidate because as we all know, politicians are very cunning.

As OP said: if we have the opportunity to be better, why choose to be fine? Nothing is certain and no matter who we vote for we are just betting, and between better and fine, why not bet on better?

[Don Pedro Dinero]

Statistics is science and I believe in science.

Statistics is a bullshit ‘science’ that serves to ‘prove’ one thing and the opposite. I will quote DdmrDdmr's personal text:

There are lies, damned lies and statistics. MTwain

It is not uncommon to see two politicians from opposing parties using statistics to support each other's positions. And not just different statistics, sometimes even the same one. Statistics can be used to defend any lie.

[pinggoki]

It's too early for us to say anything regarding that win, the effects or consequences of Trump's possible win in the election is just too much of an obscure matter that it's probably not a good idea to say something like that this early because we might end up being misdirected and misguided on our next step in bitcoin investing.

[Pi-network314159]

Bitcoin will do just better without any of them. These speculation about Donald Trump being elected and bitcoin booms is just a nightmare. As for me anyone who is voting should vote base on the right candidate for the position who can Leed effectively even though there is no true leader anymore but there should be some other things to consider but not bitcoin. We the bitcoiners has been doing fine for long, so even if they are elected and they didn't promote bitcoin, you wouldn't feel any regret of electing them. since that was not the motive of you support them. Donald Trump was once elected and he never did anything in support of bitcoin so I am not surprised even if he elected now he may still do as he did before.

[Pandorak]

I can't still have the assurance that Trump will turn bitcoin into better rather than just fine. Why? Because we can't put all our hopes with bitcoin into these politicians who are just good at the beginning but then ignore all their promises when they start to sit on their positions. I can only attest that bitcoin will do better with Trump once he's already in his position and making things possible for bitcoin. But for now, I'm still in doubt with all those impressive words for bitcoin if they are fake or not.

You are right, we cannot put hope in politicians whose initial words sometimes don't match what they do after becoming elected officials. In Trump's case, even if he lied to us about bitcoin, at least he would be labeled a liar & receive social punishment for his lies. However, for some reason i believe in Trump after his speech at the last bitcoin conference, it seemed like a promise for the entire crypto community, especially bitcoin.

[kryptqnick]

I find the op's post rather political, speculating more about what may or may not happen in case Harris wins the presidential elections than reflecting on Bitcoin. I firmly believe that casting a vote for a presidential candidate should be based on much more than how this person talks about Bitcoin. If one's views overall align with Trump's views and priorities, then it makes sense to vote for him. If not, then it is better to vote for Harris.
But let's also not forget that being enthusiastic about Bitcoin isn't natural for Trump, and it is not the view he endorsed over the years. He was a consistent Bitcoin sceptic right until the election campaign. Moreover, looking at Bitcoin, it had its major ups and downs both under Trump and under Biden.
If Trump decides to stick to his pro-Bitcoin stance and wins the elections, it can be good for Bitcoin, I admit. But I'm also not sure that Trump can be trusted to follow through in case he gets in power, and it turns out that being pro-Bitcoin is not essential for most of his electorate.
Thankfully, Bitcoin itself is relatively independent of the global economy and especially of the US political climate.

[pooya87]

Then there is Donald J. Trump who promises cheaper electricity. That will enable more mining related businesses in the US. More bitcoins will get minted in the US and those bitcoin farms will employ more US citizens.

That is going to be difficult without lowering energy prices first which is not something either one of these candidates can do. But as far as Bitcoin is concerned this is a terrible news for Bitcoin because you are basically saying that bitcoin mining is going to become more centralized and I am surprised that people aren't concerned about this, specially the same people who were screaming when a lot of hashrate came from China and was somewhat centralized over there!!!

[CryptoHeadlineNews]

Nevermind who wins, US policy will not change. Bitcoin will exist as it is. Because Bitcoin just doesn't depend on the US. It's true if Trump wins, we may see a significant movement on Bitcoin, and we may see the opposite if Kam wins. Trum seems Bitcoin-friendly, and he has some plans about Bitcoin as well. That will fuel the Bitcoin price upon a Trump win. But no big change will happen even if Kam wins, because the Biden administration wasn't against Bitcoin anyway.

You have got a good point at what you just said above, but what if Donald Trump is just only interested in Bitcoin recently just because he needs the votes and approval from the crypto community in this his forthcoming US election? Because one question I think we should have all been asking is what impact was Trump able to make on the crypto community or Bitcoin precisely during his 4yrs as president of the United States, as that will give us a clue on what to expect if he is to emerge president the second time, as truly speaking, I never saw any reasonable impact Trump did on Bitcoin while he was president. Of which truly, you can't blame the current democratic in power right now, as government will always prefer fiat currencies where they have full control over it, to Bitcoin which happens to be anonymous.

So what have you to say about this direct tweet below from the man you claim to be a saviour to Bitcoin?

[DeathAngel]

Bitcoin will be fine regardless of who wins, it’ll still do its thing. Blocks will continue to be mined on average every 10 minutes. However I think if Kamala wins we could get a short term dump. The Democrats have not been kind to crypto so what’s gonna change if she wins, possibly not much. I don’t think Trump loves Bitcoin but he has, at least said he will allow growth & not be obstructive to it. If Trump wins we provably pump harder sooner than if Kamala wins. Mid to long term though, Bitcoin doesn’t care.

[mindrust]

Then there is Donald J. Trump who promises cheaper electricity. That will enable more mining related businesses in the US. More bitcoins will get minted in the US and those bitcoin farms will employ more US citizens.

That is going to be difficult without lowering energy prices first which is not something either one of these candidates can do. But as far as Bitcoin is concerned this is a terrible news for Bitcoin because you are basically saying that bitcoin mining is going to become more centralized and I am surprised that people aren't concerned about this, specially the same people who were screaming when a lot of hashrate came from China and was somewhat centralized over there!!!

Mining in overly concentrated in China and that’s why people say bitcoin mining is centralized. If some of those miners move to the US there will be a more decentralized mining network.

You are contradicting yourself here and you don’t even seem to realize it.

Trump can indeed lower the electricity prices. Drill baby drill.

[pooya87]

Mining in overly concentrated in China and that’s why people say bitcoin mining is centralized. If some of those miners move to the US there will be a more decentralized mining network.

FYI China banned bitcoin mining a couple of years ago and ever since then the hashrate coming from China dropped significantly. And today US has pretty much replaced China in sense of how centralized mining is.

The biggest difference however is that China never forced miners to censor transactions, US is! The American miners are not allowed to mine certain transactions, based on arbitrary censorship orders the US government gives them.

[mindrust]

Mining in overly concentrated in China and that’s why people say bitcoin mining is centralized. If some of those miners move to the US there will be a more decentralized mining network.

FYI China banned bitcoin mining a couple of years ago and ever since then the hashrate coming from China dropped significantly. And today US has pretty much replaced China in sense of how centralized mining is.

The biggest difference however is that China never forced miners to censor transactions, US is! The American miners are not allowed to mine certain transactions, based on arbitrary censorship orders the US government gives them.

Good news is I wasn’t the one who were saying it.

It is still a good thing if more mining happens in the US as it will create more jobs for the US citizens. The voters should take that into account as it is stupid to drive away potential job opportunities to some other country.

My honest view is that even if the majority if the hashrate happens to be in the US it won’t harm bitcoin’s decentralization.

I must have forgotten the Chinese mining ban though, thanks for that one.

[NotATether]

Kammie wants to tax the elite in the US and some of those elites do own crypto related businesses. These people will go away to some other country and that will increase the unemployment in the US. That's net a negative for those who work in the crypto businesses in the United States. They will lose their jobs.

I like how people think that if the super-rich pay their taxes to the IRS normally (without using loopholes) then they will get tired of this place and ditch America for Monaco or St Kitts and Nevis and renounce their citizenship.

Sure, if they don't want to go to NFL stadiums or go to Vegas or Miami or stay in those lovely suites and high-end restaurants and don't want to use the NYSE and most importantly the US financial system anymore, then they can go out and live abroad permanently.

Because once you're out, there is no coming back.

(10) MISCELLANEOUS. -

(E) Former citizens who renounced citizenship to avoid taxation.-Any alien who is a former citizen of the United States who officially renounces United States citizenship and who is determined by the Attorney General to have renounced United States citizenship for the purpose of avoiding taxation by the United States is excludable.

And, you know, you can just ask people like Roger Ver how that's going for them.

Truth is, you can pay your taxes* and still have billions of dollars left in net profit. It is basically something that cannot even be felt by the rich.

*Income tax I mean, not the capital gains tax when you sell your crypto. I think that's stupid.

PS. I'd be surprised if the majority of crypto industry workers were not remote. I mean, Binance doesn't even have an office.

[mindrust]

…

Ditching the US passport itself isn’t a crime. You are twisting the facts here. Roger’s crime was tax evasion which is a serious crime in the US and pretty much anywhere else. Had Rodger paid his taxes fully and then renounced his US citizenship, he wouldn’t have been in any trouble now.

You are talking as if Rodger was the first dude who abandoned his US passport. Lots of people do that every year and under Kabamala the number will go nowhere but upwards.

Let’s hear what CNBC has to say about it:

https://www.cnbc.com/amp/2024/03/19/heres-why-some-american-expats-want-to-renounce-us-citizenship.html

This key issue has 1 in 3 expats 'seriously considering' or planning to renounce U.S. citizenship


-Nearly 1 in 3 American expatriates plan to renounce their citizenship or are "seriously considering it," according to a survey from Greenback Expat Tax Services.

-The burden of managing and filing U.S. taxes is the top reason why American expats are considering renouncing their citizenship, the survey found.

[pooya87]

My honest view is that even if the majority if the hashrate happens to be in the US it won’t harm bitcoin’s decentralization.

It will hurt decentralization. The only way it won't is if the percentage of hashrate in US doesn't go above 5% (roughly the same as US population/world population).

But that is not the biggest problem. The biggest problem is that if "majority" of hashrate were inside US, it would significantly damage one of the main Bitcoin Principles called censorship resistance since as I said the US laws enforces censorship on miners.

[Fiatless]

You have got a good point at what you just said above, but what if Donald Trump is just only interested in Bitcoin recently just because he needs the votes and approval from the crypto community in this his forthcoming US election? Because one question I think we should have all been asking is what impact was Trump able to make on the crypto community or Bitcoin precisely during his 4yrs as president of the United States, as that will give us a clue on what to expect if he is to emerge president the second time, as truly speaking, I never saw any reasonable impact Trump did on Bitcoin while he was president. Of which truly, you can't blame the current democratic in power right now, as government will always prefer fiat currencies where they have full control over it, to Bitcoin which happens to be anonymous.

So what have you to say about this direct tweet below from the man you claim to be a saviour to Bitcoin?

His supporters in the crypto industry believe that he has changed his former negative perspective about Bitcoin. They now see him as a Bitcoin president who will take Bitcoin to the moon. People fail to understand that "no matter how the leopard washes, it cannot remove its spots ". Trump cannot be trusted. He has shown that so many times. Trump is wooing the crypto community to get not just votes but financial donations.

In the recent debate with Kamala Harris, the crypto president didn't utter a word about cryptocurrencies. I am beginning to suspect that he would abandon the sector immediately after he becomes president.

It is still a good thing if more mining happens in the US as it will create more jobs for the US citizens. The voters should take that into account as it is stupid to drive away potential job opportunities to some other country.

You seem to be more interested in job creation in the US than the decentralization status of Bitcoin. Most of us are not from the US, so we care more about the censorship of Bitcoin than job creation in the US.

[Woodie]

All I would say is don't trust politicians, they might say this today and tomorrow behave like they have amnesia and back track on their words.

And the more I think about which candidate will help crypto grow the more it just gets confusing, I know Trump loves his conferences and our crypto markets being highly speculative, I see a situation of prices being volatile might not excite alot of people out there ...but to avoif putting fear in ourselves lets see what happens.