He laid out his plan to make the US the crypto capital of the world

• Fire SEC chair Gary Gensler
• Regulations written by people who love crypto industry rather than hate
• Pledged a Crypo presidential advisory council
• Create a stablecoin framwork
• America becomes world's undisputed Bitcoin mining house

Republican Senator Cynthia Lummis will introduce a bill for federal government to stockpile 1M Bitcoin and require it to be held for 20 years only used to pay down debt. That would be a $68B investment at today's price.

3 years ago he called it scam. Now he gets million from Crypto guys and thinks it's awesome. I guess that removes Jaime Dimon for consideration of any position within the administration.

Trump proposes strategic national crypto stockpile at Bitcoin Conference (cnbc.com)

Where are all the little crypto haters now?!?!? TO THE MOON!!!!

TRUMP “I’m laying out my plan to ensure that the United States will be the crypto capital of the planet and the Bitcoin superpower of the World.. if Bitcoin is going to the Moon — as we say— I want America to be the nation that leads the way” pic.twitter.com/4YK2RHxroM

— ALX 🇺🇸 (@alx) July 27, 2024

What is the Dem plan with BTC if Trump doesn't win?

Bitcoin bounced when reports came out that they were considering (calling for) lowering interest rates... which is exactly what every decent crypto trader was expecting.

The money that piles in when that happens will be 'HUUUEUGE'. It will moonshot as long as the whole economy doesn't crater into recession first or during the rally.

BlueTaze said:

---

What is the Dem plan with BTC if Trump doesn't win?

---

Depends on what Pelosi's financial planner comes up with.

AMERICA AND BITCOIN
A historical speech. Here is Donald Trump's full speech at the Bitcoin Conference with timestamps and transcript.

TIMESTAMPS
1:36 - Shoutouts to David Bailey, Winklevosses, Michael Saylor, Cathie Wood, Ron Paul and Rand Paul, Vivek, and the victims of the… pic.twitter.com/YlQWeTuAIz

— Balaji (@balajis) July 27, 2024

if you have been trying to figure out what bitcoin is and why it matters and you like trump, please read this tweet. and if any of it resonates with you, watch the speech. this is so much better than i expected, he actually seems to get it.

Instead of credit cards, we'll be using much safer USD cryptocurrency. When the central bank comes out with US dollar cryptocurrency bitcoin and others become worthless. USD crypto will be issued at a dollar. Why would you pay $60,000 for Bitcoin when you can use the US dollar one?

And Bitcoin probably becomes illegal, because if we have a US dollar cryptocurrency, then why are you using Bitcoin? Because you're doing something illegal.

gabehcoud said:

---

Instead of credit cards, we'll be using much safer USD cryptocurrency. When the central bank comes out with US dollar cryptocurrency bitcoin and others become worthless. USD crypto will be issued at a dollar. Why would you pay $60,000 for Bitcoin when you can use the US dollar one?

And Bitcoin probably becomes illegal, because if we have a US dollar cryptocurrency, then why are you using Bitcoin? Because you're doing something illegal.

---

gabehcoud said:

---

Instead of credit cards, we'll be using much safer USD cryptocurrency. When the central bank comes out with US dollar cryptocurrency bitcoin and others become worthless. USD crypto will be issued at a dollar. Why would you pay $60,000 for Bitcoin when you can use the US dollar one?

And Bitcoin probably becomes illegal, because if we have a US dollar cryptocurrency, then why are you using Bitcoin? Because you're doing something illegal.

---

Are these your own thoughts? Or did you read this line of thinking somewhere?

It won't just be the US. All central banks will create a crypto in their currency. Central banks aren't going to compete with private unregulated currency.

Imo this is why Bitcoin will thrive. We will see.

gabehcoud said:

---

It won't just be the US. All central banks will create a crypto in their currency. Central banks aren't going to compete with private unregulated currency.

---

They have been doing that for the past 100 years. How has it been working out for them lately?

Crypto in a currency controlled by any government is even worse than what we have now!

The whole reason for bitcoin is to get as far away from governments destroying the value of their currencies as possible. I don't think governments will be able to destroy Bitcoin. They haven't been able to destroy gold either. People who own gold and bitcoin already don't trust their government and they aren't giving up their gold and bitcoin irregardless of what their gov thinks about it.

Not Coach Jimbo said:

---

Do you own gold? Why? So you can do shady business off the books?

---

I have some gold in my 401k. And I have bitcoin for the sole purpose of doing things the personal freedom loving state of Texas doesn't want me to do. I absolutely don't invest in bitcoin.

Is Trunp talking about buying bitcoin as a US reserve or creating a new US crypto?

LOL. Does it make any damns what a politician says during a campaign?

gabehcoud said:

---

LOL. Does it make any damns what a politician says during a campaign?

---

Yeah, true. Good point.

BlueTaze said:

---

What is the Dem plan with BTC if Trump doesn't win?

---

Tank it, unless they can find a way to have governmental control......like everything else if they had their way.

we are getting to the point where only the willfully ignorant refuse to acknowledge what is happening.

Trump is trying to expand the Republican base. Fighting fire with fire if you will

Why can't the Republicans have a progressive campaign? Progressive the smart way.

Less Government, live free. No tax on tips, lower taxes for all. Opportunity zones. Currency freedom.

Couple others you might consider, legal gay marriage with churches have right to deny taking part. Legalize weed, to limited amounts. No public use.

Those will happen eventually anyway. Majority of gays are not part of the weird trans and other crazies

Just ideas. Not the best but ones I think eventually happen regardless

So libertarian?

i saw several posts on twitter last week speculating that all the tech billionaires like elon/ackman/sacks/winklevosses throwing their weight behind trump was a crypto play and thought that was silly

now seeing trump get trotted out like this at a bitcoin conference makes me think it's true, you can tell he's just there out of obligation and couldn't tell you anything about bitcoin that wasn't written on a teleprompter

gabehcoud said:

---

Not Coach Jimbo said:

---

Do you own gold? Why? So you can do shady business off the books?

---

I have some gold in my 401k. And I have bitcoin for the sole purpose of doing things the personal freedom loving state of Texas doesn't want me to do. I absolutely don't invest in bitcoin.

---

Ahh I forget this is texags... obviously not used for investing.... just under the table payments for you secret deals... Coud, Gabe Coud, political man of mystery.

Old McDonald said:

---

i saw several posts on twitter last week speculating that all the tech billionaires like elon/ackman/sacks/winklevosses throwing their weight behind trump was a crypto play and thought that was silly

now seeing trump get trotted out like this at a bitcoin conference makes me think it's true, you can tell he's just there out of obligation and couldn't tell you anything about bitcoin that wasn't written on a teleprompter

---

Not disagreeing. But what can you tell us about Bitcoin?

How much has Trump's campaign been paid by crypto lobbyists (such as Musk) to promote this cause? And how much does he own? A high risk speculative investment in an unregulated banking universe with lots of fraud and money laundering horror stories (see FTX for example and read Michael Lewis Going Infinite for the Wild West culture that sprung up from Bitcoin's premise).

Not to mention an asset with an unusual risk (even if small) where a large percentage is owned by an anonymous founder whom nobody know whether is alive or dead, is a single person or group, their nationality…but if whom suddenly activated and dumped all his/her/their shares could collapse the market price. Not to mention a large percentage being owned by a small number of other 'whales' and privately owned offshore entities like Binance who have histories of moves that have manipulated the prices.

This is a topic where I am very leery and would like to fully understand what sort of regulations/safeguards are intended to be put in place to protect investors.

Old McDonald said:

---

i saw several posts on twitter last week speculating that all the tech billionaires like elon/ackman/sacks/winklevosses throwing their weight behind trump was a crypto play and thought that was silly

now seeing trump get trotted out like this at a bitcoin conference makes me think it's true, you can tell he's just there out of obligation and couldn't tell you anything about bitcoin that wasn't written on a teleprompter

---

From what I've read from industry folks and others that are at the conference, Trump is actually pretty knowledgeable about Bitcoin.

ac04 said:

---

AMERICA AND BITCOIN
A historical speech. Here is Donald Trump's full speech at the Bitcoin Conference with timestamps and transcript.

TIMESTAMPS
1:36 - Shoutouts to David Bailey, Winklevosses, Michael Saylor, Cathie Wood, Ron Paul and Rand Paul, Vivek, and the victims of the… pic.twitter.com/YlQWeTuAIz

— Balaji (@balajis) July 27, 2024

if you have been trying to figure out what bitcoin is and why it matters and you like trump, please read this tweet. and if any of it resonates with you, watch the speech. this is so much better than i expected, he actually seems to get it.

---

Trump appears to be a believer and obviously has somebody on his staff that can write a convincing speech to be delivered to the devout believers.

If becoming the crypto mining leader in the world brought about a new spending for more generation and better a grid that would definitely be a good thing.

Going big on Crypto without fixing the grid issues first would make a bad situation worse

There are many opinions on this thread and some you can tell are from people that don't really know much.

There's an opinion about bitcoin becoming illegal so that it doesn't compete with a USD CBDC.

Bitcoin is an asset. It is digital gold. It is not a currency. People store wealth in gold, real estate, bonds, equities, currencies, fine art, etc. BTC is a small portion of global wealth storage but it is the fastest growing one and has the best properties of any of the aforementioned.

A USD or national currency exists and yet Central Banks still store gold as national reserve. There is a reason they do that with "hard money" and BTC is "harder" than even Gold. The same is happening with BTC and sooner or later BTC will exceed the market cap of Gold, as Trump said.

Please don't listen to some of the fear porn written on here by folks that clearly don't know anything.

La Bamba said:

---

There are many opinions on this thread and some you can tell are from people that don't really know much.

There's an opinion about bitcoin becoming illegal so that it doesn't compete with a USD CBDC.

Bitcoin is an asset. It is digital gold. It is not a currency. People store wealth in gold, real estate, bonds, equities, currencies, fine art, etc. BTC is a small portion of global wealth storage but it is the fastest growing one and has the best properties of any of the aforementioned.

A USD or national currency exists and yet Central Banks still store gold as national reserve. There is a reason they do that with "hard money" and BTC is "harder" than even Gold. The same is happening with BTC and sooner or later BTC will exceed the market cap of Gold, as Trump said.

Please don't listen to some of the fear porn written on here by folks that clearly don't know anything.

---

El Salvador would disagree on it not being a currency given they declared it an official currency in that country. I fully agree though that there is no way at this point to make it illegal and have the law enforced.

PS. I think more developing world countries may adopt ETH or Bitcoin as an official currency to provide an alternative to the USD.

https://insights.som.yale.edu/insights/el-salvador-adopted-bitcoin-as-an-official-currency-salvadorans-mostly-shrugged#:~:text=In%20an%20effort%20to%20boost,offered%20incentives%20for%20adopting%20it.

So instead of creating policies to strengthen the USD, Trump is advocating an asset class considered a hedge against devalued currencies?

Is this Trump's subtle way of saying to American people that the country is done?

I'm still skeptical, but Bitcoin may be the way out of some of our mess and it represents liberty. It represents a way to not be reliant on government fiat so I'm hopeful it does well.

Doesn't Vance gave a decent sized BTC position? The VP could very well protect his assets and profit from this policy.

Just like a BTC/crypto version of Nancy Pelosi's investing strategy

JD is a big crypto proponent.

tysker said:

---

So instead of creating policies to strengthen the USD, Trump is advocating an asset class considered a hedge against devalued currencies?

Is this Trump's subtle way of saying to American people that the country is done?

---

HINTING?? You actually need a hint that the mountain of debt we currently carry is unsustainable. The interest rate alone is is imploding the US economic foundation. You think 2008 was a near miss let that same scenario happen again with the current economy. There's no reserve chute for that happening again.


Using bitcoin to leverage the US back closer to a point that resembles our system under the gold standard could be the one thing that could save us from the inevitable collapse. Because doing nothing or more of the same is just watching the sand in the hourglass run out. There isn't enough gold on the planet to stop it. Something bold has to be done.