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 ...
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Yep, they have no idea. But they will soon, when it’s too late.
I’m in favor of the gold standard over fiat any day, but before the end of this century they’ll be mining the asteroid belt, and there are incomprehensibly large deposits out there that will play havoc with a gold standard.
The crypto standard of Bitcoin’s reliance on open source and immutable math mean the fixed pool can always remain a reliable measuring stick and function more smoothly as a medium of exchange.
Money protected by cryptography from exchange by anyone but the owner, meaning the government cannot prevent exchange by whomever has the keys to a bitcoin wallet.
The block chain is just the eternal ledger of every transaction, the tracking of which prevents the counterfeiting of any new bitcoin by nefarious means.
The government doesn’t need to tax you when they can steal your purchasing power by running the printing press to create new dollars spend the results.
Such high class.
Monopoly money. That is ultimately what you’re accepting. Not to mention the mark of the beast. They’ll know every single thing you’re doing.
I’m surprised he’s supporting this.
It’s one of the backdoor ways of implementing CBDC. Bank deposit tokens are another interim step for when/where the resistance to directly recognized CBDCs is too high.
Boys and girls, welcome to the future. Whether you like it or not, you most likely don’t understand it. BTC will rule politics for the future. The DNC is against it. This is the backdoor to reigning in the FED. But it is the key to holding the white house into the future. The Crypo segment of the population cuts across all groups.
Money has been digital since the early 70s satellite visa transactions and banking transactions. While only a small amount, those fees were enough to luanch Japan’s satellite program. Less than a penny of every dollar actually is printed or minted.
When you realize that Blackrock is both the first approved BTC EFT and the one Govt investor that has the most to lose in Ukraine, you will understand why the USG approved those ETFs in January of this year. Bitcoin was an opportunity for the major players to recoup their losses in Ukraine. BTC is naturally indexed for inflation, because the power of the many, althought few, makes it the top investment in the world.
Bitcoin will eventually have it’s place in every profolio that is managed. If one percent of all money was spent or put into Bitcoin, it would push it into the millions.
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Warren has been selling off his banking stocks and buying Gold mining companies, Barrick Gold being one. As for crypto, not for me or Warren.
It is interesting to note Buffet’s father was a huge Gold bug….and that was when the USD was backed in Gold. In Aug 1971, Nixon removed us from a gold backed dollar…..and here we are……$$$$$$$$$$$$ 35 trillion in unpayable debt.
they’ll be mining the asteroid belt
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And mining costs will be astronomical. If that becomes the case, $15,000 t/oz plus will be the norm.
Bitcoin and the rest of Crypto are not backed by anything at all, The dollar is fiat and back on by the good graces of the U.S. Government. If the computers crash Crypto goes with it. Not something sound I would want to put any trust in.
I would be more impressed if Trump was trying to get the U.S. back to any kind of sound money policies which we need. Pretty soon we will be seeing a $10 Trillion Dollar Budget and how we will pay it? Harris touts Medicare for all, including Illegals, so where will she get the extra $5 Trillion or so to pay for it?
They’ll know every single thing you’re doing
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A sign of the ( end) times. Our good Lord didn’t believe in unequal weights and measures, which is why Gold, Silver and commodities were to be money.
You can’t weigh electrons. You can’t hold electrons. Another great money experiment is being launched, and it will end in failure like all other attempts.
Gold has been money for 5,000 years, all 4800 known paper currencies throughout history have all failed. Time to go back to the basics, which is what the Brics are doing. All eyes on the Brics summit in October.
...don’t think so when as many as a third of voters are interested and there is stark contrast! ... ymmv
btt
I Don’t trust Bitcoin, prefer gold/silver, and go back to the gold standard.
That is the problem to much HACKABLE DIGITAL.
This is all about bringing us to the new monetary system that will be backed by gold or gold and silver. He can’t just come out and say it yet. If people can’t accept the word quantum maybe they’ll call it bitcoin. Although I have heard they are going to use XRP as the transfer mechanism.
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