Where Does Bitcoin Stands in Crypto Asset Revolution

[Dunamisx]

Where Does Bitcoin Stands in Crypto Asset Revolution

I was elated when I heard about what the SEC Chair Paul Atkins made ad statement, that he is every ready not to support crypto asset revolution, with the confidence in his words that America are taking the lead on this, then it struck my mind also, if there could be anything in consideration for bitcoin regulatory framework when they are fully taking over with other cryptocurrencies.

We expect this from them a long time ago to support bitcoin and fight against any infiltrations into the crypto networks by the emergence of altcoins together with shitcoins and how they have been used daily by many to scam the public with newly introduced projects without utility values, maybe they will get to realize more about why bitcoin should stand out in cryptocurrency and how they could regulate others including their own memes.

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[hero_the_bossman]

Sweet words, but we will see about that.

After all, there are many things that can be considered "revolutionary" by them.

[joniboini]

We expect this from them a long time ago to support bitcoin and fight against any infiltrations into the crypto networks by the emergence of altcoins together with shitcoins --snip-

I don't believe that's their goal tbh. Maybe it's one of their targets, but their goal is clearly to be the frontrunner in crypto and reap the biggest profits, either from tax, regulation, market volume, etc. They don't have to push the narrative that they believe Bitcoin is the best crypto if they want to reduce scams anyway. Regardless of what they said, we know that words mean nothing. Let's see what their actual regulations/frameworks for crypto are.

[BitGoba]

Crypto and Bitcoin are not the same thing , That is a crucial difference that many people don’t understand.. Their goal is to push so-called unstablecoins, controlled by governments and banks. Bitcoin is their enemy. They only want users and buyers who will hold government debt. Tether has already proven to be one of the largest holders of U.S. debt and bonds , they want to expand that model further, which in turn strengthens fiat currencies and the dominance of the dollar.

[Catenaccio]

Where Does Bitcoin Stands in Crypto Asset Revolution

I would like to consider or discuss about Bitcoin Asset Revolution than Crypto Asset Revolution.

Without Bitcoin, as it alread happened, there would have been no Crypto Asset Revolution. How was the revolution started?
It began with Bitcoin and it's history that can not be changed.

Altcoins are dangerous, weak and vulnerable to deaths so they are not revolution.
Dead coins: How many cryptocurrencies have failed?

[mindrust]

With a marketcap of 2.27 trillion friggin us dollars? I think it is very clear. Bitcoin stands at the top of the mountain, waving the flag of victory.

However I find it a bit weird that the US is making law and regulations like crypto is a government project. I mean most of us wanted this to happen so we could access crypto safely but somehow I liked the old days when crypto was a rebellious project. Now we are getting wallstreetalized, industrialized, legalized.

Legalize it don’t criticize it says some wise man.

[uefbv]

Where Does Bitcoin Stands in Crypto Asset Revolution

I was elated when I heard about what the SEC Chair Paul Atkins made ad statement, that he is every ready not to support crypto asset revolution, with the confidence in his words that America are taking the lead on this, then it struck my mind also, if there could be anything in consideration for bitcoin regulatory framework when they are fully taking over with other cryptocurrencies.

We expect this from them a long time ago to support bitcoin and fight against any infiltrations into the crypto networks by the emergence of altcoins together with shitcoins and how they have been used daily by many to scam the public with newly introduced projects without utility values, maybe they will get to realize more about why bitcoin should stand out in cryptocurrency and how they could regulate others including their own memes.

source

Bitcoin is at the core of the crypto asset revolution. It is not only the origin of this revolution, but also its value benchmark and ideological symbol.

[Dunamisx]

We expect this from them a long time ago to support bitcoin and fight against any infiltrations into the crypto networks by the emergence of altcoins together with shitcoins --snip-

I don't believe that's their goal tbh. Maybe it's one of their targets, but their goal is clearly to be the frontrunner in crypto and reap the biggest profits, either from tax, regulation, market volume, etc. They don't have to push the narrative that they believe Bitcoin is the best crypto if they want to reduce scams anyway. Regardless of what they said, we know that words mean nothing. Let's see what their actual regulations/frameworks for crypto are.

I sense the same thing as well, what they are trying to pass across may be different from what the people have been seeing or thinking of, this is more of being after their own pocket and not to fight for bitcoin, the people or cryptocurrency adoption, but how that could claimed institutionizing a regulative framework for all crypto entity, as if we don't know the way they once attacked for bitcoin mining and environment disaster.

[Mate2237]

You don't need a blind man to tell you where Bitcoin stands in crypto currency because Bitcoin is the driver of the crypto community all other crypto currency like your altcoins is only trying to meet with Bitcoin which they can't do because of the way that Bitcoin is.



America should take steps towards statements like this because apart from making Bitcoin a security asset that can be traded I have not seen any fantastic from the trump administration that promised revolution in the crypto industry but if truly America is ready for crypto they can become the leading force in the crypto sector in the world

[AmoreJaz]

With a marketcap of 2.27 trillion friggin us dollars? I think it is very clear. Bitcoin stands at the top of the mountain, waving the flag of victory.

However I find it a bit weird that the US is making law and regulations like crypto is a government project. I mean most of us wanted this to happen so we could access crypto safely but somehow I liked the old days when crypto was a rebellious project. Now we are getting wallstreetalized, industrialized, legalized.

Legalize it don’t criticize it says some wise man.

Regulation is much better than  banning or any other criticisms. Because the government can somehow get  a hold of the benefits such as taxes and other fees that they can derive from crypto-related businesses. As we put it this way, crypto market is already here and any government can't evade such presence of this market. So what they can do is accept the fact that we are already in this digital age where the existence of cryptocurrencies are happening already. Instead of evading this current happening, they can always adapt and regulate the market accordingly.

As we have seen, China, seen as a very influential economy, couldn't even stop this crypto market when they declared to have stringent approach over bitcoin. They even stopped mining, however, miners just move to other neighboring countries and continue to mine. Which goes to show that they don't have the upper hand in this market. Consider that they are one of the top economies in the world.

[batang_bitcoin]

Regulation is much better than  banning or any other criticisms. Because the government can somehow get  a hold of the benefits such as taxes and other fees that they can derive from crypto-related businesses.

They are already doing that and that's why he's saying that to lead it all, they need to step up and this revolution means that there's something bigger happening and they shouldn't miss it.

but their goal is clearly to be the frontrunner in crypto and reap the biggest profits, either from tax, regulation, market volume, etc.

This is also what I am thinking of what he's said. They're the most known country globally and they shouldn't be too small compared to the other countries that have already adopted and making full use and reaping the benefits from the crypto industry. And mainly, they should be the frontrunner in having the Bitcoin reserve as well.

[fuguebtc]

And mainly, they should be the frontrunner in having the Bitcoin reserve as well.

I think even if they decide to add bitcoin to their national reserves, they won't be the first country to do so. We should give that title to El Salvador because they were the first country to do this even though they are very small and not as influential as the US.


But honestly, their goal in legitimizing and promoting the crypto industry is just profit, strengthening the power of the USD. So I don't think we'll see them adding bitcoin to their national reserves anytime soon. Their top priority is stablecoin and they will focus on that instead of bitcoin or any altcoin because that is how they maintain the strength of the USD.

Let's not be naive to think and expect bitcoin to be their top priority.

[Don Pedro Dinero]

For me, the “crypto” asset revolution, as it is being proposed in the US, will consist of 80% bitcoin, 15% stablecoins and 5% shitcoins. In terms of importance, I mean. The stablecoins are going to be more important than the myriad of altcoins because it will be the best way for the USA to export its currency at a time when the BRICS are moving away from the dollar standard. When the citizens of countries with high inflation can easily buy dollars with their mobile phones, it will be very difficult for the world to move away from the dollar standard.

[Sticky Bomb]

We expect this from them a long time ago to support bitcoin and fight against any infiltrations into the crypto networks by the emergence of altcoins together with shitcoins --snip-

I don't believe that's their goal tbh. Maybe it's one of their targets, but their goal is clearly to be the frontrunner in crypto and reap the biggest profits, either from tax, regulation, market volume, etc. They don't have to push the narrative that they believe Bitcoin is the best crypto if they want to reduce scams anyway. Regardless of what they said, we know that words mean nothing. Let's see what their actual regulations/frameworks for crypto are.

I didn't see any clear reference on Bitcoin there and with the recent bill they signed on stablecoins, you can see clearly that they're after maximizing their benefits from cryptocurrency as a whole (including meme coins) and not clearly supporting any Bitcoin movement.

Trump is for the gains, especially gains that benefit him and his companies dealing in crypto sales directly. I just hope he doesn't miss out on a good mine while chasing shadows.

[hd49728]

Where Does Bitcoin Stands in Crypto Asset Revolution

I was elated when I heard about what the SEC Chair Paul Atkins made ad statement, that he is every ready not to support crypto asset revolution, with the confidence in his words that America are taking the lead on this, then it struck my mind also, if there could be anything in consideration for bitcoin regulatory framework when they are fully taking over with other cryptocurrencies.

Blockchain is one of biggest revolutions in human civilization history, no doubt about that and now it is an irreversible trend and the USA know about this. They don't want to fall behind other countries in this technical global trend and they know that they can lead this industry if they want. It's is easily to open their nation more friendly for blockchain and cryptocurrency while they know that Bitcoin is the King and leader of this blockchain industry and cryptocurrency market.

Any positive policy for this industry would target at Bitcoin first and it is predictable action of government regulatory changes in the future. It's how blockchain revolution began, and is going to the future.

[avikz]

Well, do I smell regret somewhere? Or just smart psychological game to play with the minds of the voters of America!

All depends on their intention and execution of this initiative. Crypto market needs a great clean up. It's filled with money laundering rackets and scammers. This market has already seen multi million dollar thefts and hacking incidents and majority of the cases couldn't be solved.

Crypto is indeed a revolution and Bitcoin stands at the forefront of this revolution. But how America is planning to keep pace with this, matter a lot! Won't be very optimistic when it comes to SEC.

[Fiatless]

Well, do I smell regret somewhere? Or just smart psychological game to play with the minds of the voters of America!

All depends on their intention and execution of this initiative. Crypto market needs a great clean up. It's filled with money laundering rackets and scammers. This market has already seen multi million dollar thefts and hacking incidents and majority of the cases couldn't be solved.

Crypto is indeed a revolution and Bitcoin stands at the forefront of this revolution. But how America is planning to keep pace with this, matter a lot! Won't be very optimistic when it comes to SEC.

The US is in a competitive race with China. Both countries want to be leaders of different technological sector. Donald Trump has shown some signs of worries that if the US doesn't lead the crypto sector, China might take the first position. But I wonder why he is still calling China when the communist nation has placed a ban on cryptocurrencies. Maybe he feels that China is secretly stocking Bitcoin and others.

These friendly crypto policies in the US like the GENIUS Act are towards making the US the crypto capital of the world. Exempting Bitcoin from any crypto accumulation will amount to a joke. So I am sure that Bitcoin will lead the crypto revolution in any country. Let's see how things will play out in the US.

[BitHodlers]

For now there has been a little too much talk compared to action. I understand that these things can take time, but I want to see more results before I can evaluate properly whether they have supported Bitcoin or not.

We expect this from them a long time ago to support bitcoin and fight against any infiltrations into the crypto networks by the emergence of altcoins together with shitcoins --snip-

I don't believe that's their goal tbh. Maybe it's one of their targets, but their goal is clearly to be the frontrunner in crypto and reap the biggest profits, either from tax, regulation, market volume, etc. They don't have to push the narrative that they believe Bitcoin is the best crypto if they want to reduce scams anyway. Regardless of what they said, we know that words mean nothing. Let's see what their actual regulations/frameworks for crypto are.

That's their goal with all of new technology, so that doesn't say anything bad about it.

[WatChe]

Crypto and Bitcoin are not the same thing , That is a crucial difference that many people don’t understand.. Their goal is to push so-called unstablecoins, controlled by governments and banks. Bitcoin is their enemy. They only want users and buyers who will hold government debt. Tether has already proven to be one of the largest holders of U.S. debt and bonds , they want to expand that model further, which in turn strengthens fiat currencies and the dominance of the dollar.

The original idea on which Satoshi created Bitcoin is p2p electronic cash and that concept is missing from almost every coin circulating in the market today. Most of cryptocurrencies have no linked with the original concept of Satoshi rather they are just a form of CBDC. Bitcoin is the only coin that is fully decentralised till today and we can't find any other coin that is as decentralised as Bitcoin. The centralised coins are created by institutes just to get there share from this emerging market and they are only doing harm to user privacy.

[batang_bitcoin]

And mainly, they should be the frontrunner in having the Bitcoin reserve as well.

I think even if they decide to add bitcoin to their national reserves, they won't be the first country to do so. We should give that title to El Salvador because they were the first country to do this even though they are very small and not as influential as the US.

It's different.
EL Salvador = legal tender
US = Bitcoin reserve

But honestly, their goal in legitimizing and promoting the crypto industry is just profit, strengthening the power of the USD. So I don't think we'll see them adding bitcoin to their national reserves anytime soon. Their top priority is stablecoin and they will focus on that instead of bitcoin or any altcoin because that is how they maintain the strength of the USD.

Let's not be naive to think and expect bitcoin to be their top priority.

It's all about profit even us the investors, we've started to become enthusiastic about it but then, we've seen how profitable holding Bitcoin. So it all lies with the profitability that everyone can get with Bitcoin. But just for the sake of argument, there's already this if you don't believe that they've already made some move to make it real for the Bitcoin strategic reserve[1].

[1] ESTABLISHMENT OF THE STRATEGIC BITCOIN RESERVE AND UNITED STATES DIGITAL ASSET STOCKPILE