US Dollar vs Bitcoin

[Swordsoffreedom]

Let's be real here. Anyone with a sane mind knows that Trump just used gullible crypto investors for votes and doesn't really give two shits about BTC or any other crypto currency for that matter.

He probably forgot about his pointless promises already. This ongoing crypto pump will stop and there will be a massive correction at some point. The USD will probably get weaker again once he implements some of his policies.

That is uncertain, let's see after his inauguration, what he will do with Bitcoin in America, he said he would fully support the Crypto industry in the US and it became a big catalyst why the market was very bullish about Bitcoin and this industry in the future.

However we will witness whether he is a liar or not because the digital track record is very clear and can be easily found, the dollar is destined to decline in the long run, that is the mechanism of Fiat.

He said we should be realistic but he is stubborn and doesn't want that to happen  . I guess he is a Harris supporter and still hasn't accepted the fact that Trump won.


Yes, we should wait and see what happens after his inauguration, it is pointless for us to make a statement because no one has a crystal ball to see the future. But given the market reaction since he was confirmed as the US president and the many rumors about Gary's resignation, I am really optimistic about the bright future of the crypto industry under his leadership.


@Haunebu: If Gary resigned after Trump took office, would you be happy? If you were happy, then you should thank Trump for doing so.

[Webetcoins]

Let's be real here. Anyone with a sane mind knows that Trump just used gullible crypto investors for votes and doesn't really give two shits about BTC or any other crypto currency for that matter.

He probably forgot about his pointless promises already. This ongoing crypto pump will stop and there will be a massive correction at some point. The USD will probably get weaker again once he implements some of his policies.

Not entirely sure about that, he talked about lifting the capital gains tax on bitcoin already, and he hasn't even taken the position yet. Don't get me wrong, I am someone who would have preferred Kamala, well truth be told I would have preferred someone better than both of them, neither Trump nor Kamala looked good to me, but if I was American and could vote, I would have voted for Kamala.

But even though I dislike Trump a lot, I have to give credit where credit is due, and that looks like it would be something that would be realistically he will do something about bitcoin. The capital gains tax would be a big deal, plus we have seen too many people who made profit once, and then lost all their money and still charged with tax, so he needs to fix that asap.

[tottong]

Not entirely sure about that, he talked about lifting the capital gains tax on bitcoin already, and he hasn't even taken the position yet. Don't get me wrong, I am someone who would have preferred Kamala, well truth be told I would have preferred someone better than both of them, neither Trump nor Kamala looked good to me, but if I was American and could vote, I would have voted for Kamala.

But even though I dislike Trump a lot, I have to give credit where credit is due, and that looks like it would be something that would be realistically he will do something about bitcoin. The capital gains tax would be a big deal, plus we have seen too many people who made profit once, and then lost all their money and still charged with tax, so he needs to fix that asap.

He was able to influence the voter base to win the election and if you see the news during the campaign he was even close to death but he survived.
Trump and Kamala have different personalities and Trump's style is probably a lot more brutal, I'm fine with whoever wins but we can probably expect bitcoin to do a lot better in the US.
Although sometimes they don't try to do big things because protecting the dollar is much more important than bitcoin and Trump is not going to take big steps to destroy his country's currency.

About capital gains tax and I think that will be an issue that may need to be simplified because talking about taxes always causes negative reactions from some sources who may not agree.
So that step may need to be tested because otherwise between Trump and Kamala should be different.

[Cookdata]

Don't get me wrong, as someone not from the US but is holding bitcoin, if Trump were to follow through his promises it would greatly benefit me but I am just pondering over the real chances of Trump doing this. Am I correct with my assumption that dollar might weaken as bitcoin gets stronger? and if I am, won't that make bitcoin a direct competitor of the US dollar? What will the dollar benefit from Trump doing this? or am I missing something here?

Elections has phases. The pre election phases where sentiments will drive everyone due to the promises and think alike, it's that sentiment they just want to stick to whether it's fact or not, that's what they are going to believe in. The second pause is the post election phase where everyone wait for the election promises to be actualize and brings to reality but the trick is this is the most knyerest phase, that's when reality set in and things don't goes as promised.

The last phase is when the government start complaining of the past administration failure as excuse because they couldn't do things that were promise. As it is right now, I'm waiting for the new elected president to get into office because we are have finish the first stage, I'm awaiting the second stage to see the things we are going to see in this government is he will be interested in Bitcoin like they promised because I know for sure no government will do anything that will weaken it's currency.

[AprilioMP]

Won't having bitcoin as their strategic reserve harm US dollar? Especially with the rise of BRICS and their dedollarization agenda, won't Trump be just making their job easier if he were to prioritize bitcoin?

Don't get me wrong, as someone not from the US but is holding bitcoin, if Trump were to follow through his promises it would greatly benefit me but I am just pondering over the real chances of Trump doing this. Am I correct with my assumption that dollar might weaken as bitcoin gets stronger? and if I am, won't that make bitcoin a direct competitor of the US dollar? What will the dollar benefit from Trump doing this? or am I missing something here?

Separate first between dollars, brics and bitcoin. Market competition is very tight between a currency A and currency B. BRICS I find its meaning as a stronghold that is contrary to the West that I can understand is a group that is against the dominance of the Western economy.
If we see how the Bitcoin system, then I can find my own answer that Bitcoin can be a solution in the middle of both.
When Trump and a number of presidential candidates who are competing or elected who promise Bitcoin, instead they want to get solutions to what will happen to the economy globally. May be corrected if I'm wrong.

[STT]

Even if you believed any politician to be sincere you need an extra level of belief to actually convince yourself they know how and will actually be able to make it happen.   All those things occurring within 4 years is surely a rare occurrence in most politics around the world.

Its the people always everywhere who are the truth wealth and also driving force in a nation.  The only reason for government really is to stop or at least reduce fighting and exploitation of those less able, the young and old etc.   Government really isnt creating business, the best they can do is step out of the way alot of the time.

[red4slash]

Even if you believed any politician to be sincere you need an extra level of belief to actually convince yourself they know how and will actually be able to make it happen.   All those things occurring within 4 years is surely a rare occurrence in most politics around the world.

Sincere politicians? There will only be a handful of many who will not be that sincere because in the end for some large countries with power being one of the milestones as control in the end there will be no one who is truly sincere to fully serve considering that they definitely want a separate benefit to be obtained from their results if elected into an official so that no one is truly sincere about this because there will definitely be several things such as benefits and privileges that can be used not in accordance with their capacity.

Indeed, trust may be one of the distinguishing factors in this case but on the other hand we must also be aware that the element of the principle of trust occurs because we also have the same goals and desires that are in line with the politician so that we feel we are on the same path which makes it seem as if we trust even though we are only walking hand in hand for each other's benefit.

[Nanga Parbat]

All countries have gold and foreign exchange reserves that are under the control of Central Banks / the Federal Reserve System. The very fact of having gold and foreign exchange reserves gives value to fiat currencies. Previously, gold was the main reserve asset.

However, we live in the 21st century and digital gold has become relevant - that is, Bitcoin. Bitcoin will become the main part of the gold and foreign exchange reserves of the Central Banks of all countries (replacing conventional gold). At the same time, fiat currencies are also changing - instead of cash bills and metal coins, digital money (the so-called CBDC) will be used.

The financial power of each state (there are currently about 200 different states in the world) will be measured by the presence of Bitcoin reserves.

BTC investment is best investment for the persons who are doing jobs or these are running small businesses and they want to invest in safe investment through which they can be rich in future. I can take time because price of BTC always go up and down and when we will analyze then we get the information that BTC is scam but the people who don't know what is btc and cryptocurrency they think that Cryptocurrency is  scam but they didn't know how many that is trusted. Banks can do fraud at any time but in that investment there is no chance of lose of investment but traders can get lose in this case but long runners always get profit.

[TheUltraElite]

Even if you believed any politician to be sincere you need an extra level of belief to actually convince yourself they know how and will actually be able to make it happen.   All those things occurring within 4 years is surely a rare occurrence in most politics around the world.

We can all agree that "sincere" and "honesty" are words outside the politician's dictionary. Therefore whatever they are doing, let them do, take the profit while everyone is in euphoria and move out from it. At present, Trump has allowed a big pump in bitcoin, so cash it out and dont buy further, wait for it to come back down.

I am following this path currently, as as for now, bitcoin is back to 94k USD, so the resistance is increasing up at 100k. We can only watch and observe how Trump actually helps bitcoin if any.

[Abiky]

Won't having bitcoin as their strategic reserve harm US dollar? Especially with the rise of BRICS and their dedollarization agenda, won't Trump be just making their job easier if he were to prioritize bitcoin?

Don't get me wrong, as someone not from the US but is holding bitcoin, if Trump were to follow through his promises it would greatly benefit me but I am just pondering over the real chances of Trump doing this. Am I correct with my assumption that dollar might weaken as bitcoin gets stronger? and if I am, won't that make bitcoin a direct competitor of the US dollar? What will the dollar benefit from Trump doing this? or am I missing something here?

I don't think so. Bitcoin is considered more as "digital Gold" (store of value), than a Fiat replacement (digital cash). Besides, most centralized exchanges hold a large portion of the circulating supply. Without mentioning institutional investment companies (BlackRock, VanEck, etc) which also have a "piece of the pie". You can see why FED chair Jerome Powell said "Bitcoin is not a threat to the US Dollar". It won't be as long as the world is stuck with the Fiat standard. Things might change if countries worldwide ditch the USD as a global reserve currency in favor of BTC. But that's a big IF, as such move would give more power to the people. Governments always want to be in control, so don't count on Bitcoin undermining the USD or any kind of Fiat currency anytime soon.

What might happen is that US will begin stockpiling BTC to add it to its reserves. President Trump already has this on his agenda. It'll be like in the Gold days where countries had their own Gold reserves and backed their currencies with it. If the US backs the USD with BTC, the American economy will become strong again. Let's see how this will play out in the long run.

[Minor Miner]

What might happen is that US will begin stockpiling BTC to add it to its reserves. President Trump already has this on his agenda. It'll be like in the Gold days where countries had their own Gold reserves and backed their currencies with it. If the US backs the USD with BTC, the American economy will become strong again. Let's see how this will play out in the long run.

After the Fed's statement that they are not interested in bitcoin, I am waiting to see what happens next and what Trump will do to make the idea of ​​bitcoin as a national reserve a reality. Because the Fed is the only authority that has the authority to manage the USD and they are the custodian of the US national reserves, not the White House. And the Fed is a separate organization, not subject to the management or control of the White House. In other words, Trump cannot interfere with the Fed's decisions.

Also, the US is the country that proposed to abolish the gold standard so they can freely print USD at will, I don't think they will use Bitcoin to back USD instead of gold.

[Republikcoin.com]

Separate first between dollars, brics and bitcoin. Market competition is very tight between a currency A and currency B. BRICS I find its meaning as a stronghold that is contrary to the West that I can understand is a group that is against the dominance of the Western economy.
If we see how the Bitcoin system, then I can find my own answer that Bitcoin can be a solution in the middle of both.
When Trump and a number of presidential candidates who are competing or elected who promise Bitcoin, instead they want to get solutions to what will happen to the economy globally. May be corrected if I'm wrong.

There is nothing wrong with what you said because basically the dollar is a currency that is already well-known globally in the economic sector while BRICS is a new community that is made up of several countries that want to fight the dollar. So Bitcoin actually cannot be used as an opponent for both because Bitcoin is very different from any currency in the world and clearly can be a solution as a mediator for those who still like dollars and those who are already members of BRICS. So there is nothing wrong with this even though the comparison of the dollar vs Bitcoin is not equivalent because Bitcoin can be superior to any currency including the dollar itself.

[DeathAngel]

One that concerns me is his promise of establishing bitcoin as the nation's strategic reserve. Doing this would definitely help with the perception of bitcoin to the general public and would be hugely beneficial to those who are already holding bitcoin now. However we also need to consider what this could mean for the US dollar? With bitcoin getting stronger and stronger and with the help of Trump, traditional financial sectors will dwindle down and interest will turn to digital currencies which is what Trump hopes to do as he mentioned that he wants US to be the world's capital of cryptocurrencies.

Won't having bitcoin as their strategic reserve harm US dollar? Especially with the rise of BRICS and their dedollarization agenda, won't Trump be just making their job easier if he were to prioritize bitcoin?

Don't get me wrong, as someone not from the US but is holding bitcoin, if Trump were to follow through his promises it would greatly benefit me but I am just pondering over the real chances of Trump doing this. Am I correct with my assumption that dollar might weaken as bitcoin gets stronger? and if I am, won't that make bitcoin a direct competitor of the US dollar? What will the dollar benefit from Trump doing this? or am I missing something here?

I think Bitcoin can help strengthen the dollar if indeed Trump adopts it as a national strategic reserve. The dollar has been losing purchasing power for a long time, the constant money printing is weakening it & other nations are not stupid, they could easily drop the dollar & adopt Bitcoin themselves. The Us loses nothing by adopting Bitcoin, they can only gain so hopefully they do it.

[Smack That Ace]

I think Bitcoin can help strengthen the dollar if indeed Trump adopts it as a national strategic reserve. The dollar has been losing purchasing power for a long time, the constant money printing is weakening it & other nations are not stupid, they could easily drop the dollar & adopt Bitcoin themselves. The Us loses nothing by adopting Bitcoin, they can only gain so hopefully they do it.

How will Bitcoin help strengthen the value of the USD when they have no intention of pegging it to the USD? If they were interested in devaluing the USD, they would not have abandoned the gold standard and printed USD so indiscriminately. So turning bitcoin into a reserve would be irrelevant and would not help strengthen the value of the USD.

I don't like the US and the dominance of the USD but honestly, abandoning the USD is not easy and simple, and countries want to abandon the USD not because this currency is losing value but because they are fed up with the dominance of the US. The United States is abusing its power and causing instability and injustice in the world. Other countries have realized that and want to reduce their dependence on the USD to protect themselves from the arrogance of the United States.

[Wonder Work]

How will Bitcoin help strengthen the value of the USD when they have no intention of pegging it to the USD? If they were interested in devaluing the USD, they would not have abandoned the gold standard and printed USD so indiscriminately. So turning bitcoin into a reserve would be irrelevant and would not help strengthen the value of the USD.

Many people have commented about this, but I don't see anything like Bitcoin strengthening the value of the USD. As you said, if the USD were devalued, I would have expected something like this, but the USD is not being devalued; it is being traded very well, no matter how well BTC does, the value of the USD will not decrease or increase.

Whether Donald Trump of the United States wants to do it or not, he will not do anything with Bitcoin to strengthen or increase the value of the USD. ‌Bitcoin will be used as a digital currency, its popularity will increase, and it will do something good, but it does not seem that the use of the USD in the United States will move in any direction. It seems that the USD will be traded in the generally practised way. The issues you have raised are right; I think the same. Many people have made many comments, but I think that no matter how much we comment, nothing will happen about this, it will continue as it is.

[Sandra_hakeem]

If Trump can keep up with the promise of making Bitcoin The nation's strategic reserve then it's  a big puls to the Bitcoin community and also a a good hedge over inflation for the nation. Despite Bitcoin volatility the fact it has a fixed amount of supply makes it a good strategy for eliminating the risk of inflation.

For people who feel Bitcoin can strengthen the USD the sad reality is that Bitcoin has maintained a negative correlation with the dollar index.  What this index does  id measure the greenback's exchange rate against major fiat currencies, this is just a clear indication that Bitcoin can just be best for reserve and not as a backup currency or anything of such.

[STT]

What happened was Dollar index and also Bitcoin went up at the same time, its no bad thing because its a definite increase in value.   Now what I think happens is Bitcoin as first pulls back but the great move is the Dollar index or DXY moving below the 100 mark, which on trillions is a large move.   

That much value displaced will raise the price on Bitcoin probably the whole year and for while Dollar remains in that position.  Trump if you want to refer to him as the orchestrator of any move, has said he wants the Dollar lower.  So its a desire at least and we'll have to see if it occurs but I know BTC would go up with a lower dollar.

[Abiky]

After the Fed's statement that they are not interested in bitcoin, I am waiting to see what happens next and what Trump will do to make the idea of ​​bitcoin as a national reserve a reality. Because the Fed is the only authority that has the authority to manage the USD and they are the custodian of the US national reserves, not the White House. And the Fed is a separate organization, not subject to the management or control of the White House. In other words, Trump cannot interfere with the Fed's decisions.

Also, the US is the country that proposed to abolish the gold standard so they can freely print USD at will, I don't think they will use Bitcoin to back USD instead of gold.

True. But what if Trump's Republican Party control both chambers of Congress (majority in House + Senate)? Then, the FED will be subject to the Party's demands. For what I know, most Republicans are loyal to Donald Trump. So if he says the US will have a BTC reserve, congressmen will approve any necessary bills to make it happen. And there's nothing the FED can do about it.

I mean, if the US had its own Gold reserves in the past, why can't it have its own BTC reserves now? After all, BTC is touted as the next "digital Gold". With how fast the USD is declining (even though it's still the world's reserve currency), I'm pretty sure BTC will reign supreme in the future. It will probably outlive most Fiat currencies we know and love today. We'll see what happens in the long run.

[summonerrk]

I am interested in the position of Trump, who is about to take office. This is the man who has already devoted a lot to showing the public that the crypto community is not an accessible and profitable market that is developing Bitcoin and blockchain. And at the same time, Trump has a clear focus on making the dollar great again. This follows from his statements towards BRICS, which decided to make an alternative to the dollar. This is a rather controversial opinion, because Bitcoin and the dollar are also constantly in a struggle.

[WillyAp]

I think Bitcoin can help strengthen the dollar if indeed Trump adopts it as a national strategic reserve. The dollar has been losing purchasing power for a long time, the constant money printing is weakening it & other nations are not stupid, they could easily drop the dollar & adopt Bitcoin themselves. The Us loses nothing by adopting Bitcoin, they can only gain so hopefully they do it.

Your writing is the tenor of many, fact is that the dollar is much more stable than 90% of all other currencies.
Worldwide the $ is the accepted by most mainstream merchants.
The Dollar is also medium for millions of people trying to save something.  Its much easier to get a few $ than to learn using an wallet.