Posted on 07/27/2024 6:04:53 PM PDT by SeekAndFind
NASHVILLE, Tenn. (AP) — Former President Donald Trump on Saturday laid out his plans to wholeheartedly embrace cryptocurrency if elected for a second term, telling hundreds of cheering supporters of the digital tokens that he wants the U.S. to be a “bitcoin superpower” under his leadership.
In his keynote address at a bitcoin conference in Nashville, Tennessee, the Republican presidential nominee promised to make the United States the “crypto capital of the planet” and create a bitcoin “strategic reserve” using the currency that the government currently holds.
He also promised to remove Securities and Exchange Commission Chair Gary Gensler if elected and implement a crypto advisory council, teasing the crowd by asking attendees if anyone wanted to join.
“We will have regulations, but from now on the rules will be written by people who love your industry, not hate your industry,” he said.
Trump’s keynote address at the Bitcoin 2024 conference showed how radically his position on cryptocurrency has changed over time.
He was not always a fan of cryptocurrencies, writing on social media in 2019 that their “value is highly volatile and based on thin air.”
He has embraced the digital currency in recent years, and in May, his campaign began accepting donations in cryptocurrency.
Throughout the nearly 50-minute speech, Trump repeatedly sought to contrast his support of cryptocurrency to the Biden’s administration efforts to regulate the industry, telling the crowd that the federal government was “blocking your way.” Trump said he wanted cryptocurrency “mined, minted and made” in the United States.
The former president appealed to bitcoin fans by pointing to U.S. law enforcement seizures of the digital token.
“They took it away from you,” he said. “So, as I take steps to transform that vast wealth into a permanent national asset to benefit all Americans,
(Excerpt) Read more at apnews.com ...
Might as well. The dollar is about to collapse and we’ll need a way to get stuff
Warren Bufffit and I think crypto is a scam.
No. We need gold and silver. And lots of it.
I think this is one of those times.
He should have stopped by saying the Government has no business interfering with or trying to regulate crypto in order to allow the US to become the world leader.
A strategic bitcoin reserve is a terrible idea.
But it’s one of the best ideas our government has had in decades, so I’m on board.
Really? Trump pushing crypto makes me uncomfortable....leading right into digital currency.
Sometime shows up on the Stupid side. Bit coin requires tons of computer resources. It requires and incredible amount of power. And if that system goes down then everyone is left with nothing at all. So in the event of a large war. Those people are screwed. Stupid Stupid Stupid. Meanwhile a traditional account is just a simple number stored either on paper or a set memory location. In the best of circumstances it would be backed up by Gold or Silver.
I don’t understand Bitcoin.
He specifically said “no cbdc’s”. He spoke positively about “stable coins” but rejected cbdc’s. So that was good.
IMHO - This is a needless distraction and a poorly thought out position.
Indeed. I’m with you.
Wish people would stop being so go smacked by this guy. He is not “all that.”
Maybe. Everything is digital, anyway. The internet, records, trading, accounts, GPS... I read somewhere where even simple things like processing a bank withdrawal requires a GPS time stamp.
We are one good well placed Carrington Event away from maximum disaster.
Somewhat off topic but we know dozens of other central banks are buying gold hand over fist and/or repatriated from the NY Fed or Bank of England. I don’t hear of any central bank stockpiling bitcoin.
Seems that we should be accumulating bullion as well, for a number of reasons, but I don’t see any indication that we are or plan to.
Does anyone know if we are and if not why not?
He clearly stated that he was against a national digital currency.
Piss off. Bitcoin is new and most here bitching about it have no idea what they are talking about.
if social credit scores meet digital currency
then
lights out, the party is over
I tend to think bankcards should have two numbers, a visible one for online purchases and an electronic/magnetic one for physical purchases.
Online purchases should have to be confirmed via cellphone unless other arrangements have been made with the bank.
Microsoft’s efforts to fight fraud have caused me great annoyance. I’ve wasted over 100 hours in some years.
“the party is over”
Samuel Adams, building restoration specialist
I fix buildings in exchange for room & board.
I believe that FDR spent about $14 billion in 1930s dollars buying gold.
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