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Thread: Trump Promises To Make USA The "Bitcoin Super-Power Of The World"

  1. #1

    Trump Promises To Make USA The "Bitcoin Super-Power Of The World"

    In a spirited keynote address, Former President Trump promised to make USA the "bitcoin super-power of the world," ensuring that cryptocurrency is "mined, minted, and made in the USA."

    "We have to talk about Bitcoin. Our country is blessed with the extraordinary talent and genius in this room.

    This spirit built America and will help us make it great again.

    I admire what the Bitcoin community has achieved. In just 15 years, Bitcoin has gone from an idea to the 9th most valuable asset in the world.

    It's already bigger than ExxonMobil and soon it will surpass the market cap of silver.

    That's a big deal."

    He went on with some big promises:

    "I pledge the day I take office the weaponization against Bitcoin ends."

    "On day one, I will fire Gary Gensler and appoint a new SEC Chairman."

    "I will immediately shutdown Operation Chokepoint 2.0"

    Trump also confirmed that he will appoint a crypto advisory council with "regulations written by industry-loving people within 100 days."

    Trump also confirmed that "there will never be a CBDC" while he is president.

    "Those who say that bitcoin is a threat to the dollar have it exactly backwards, the danger to our financial future comes from Washington DC not crypto."

    Additionally, the former president pointing out that

    "Bitcoiners understand inflation better than anyone. You all understood it first."

    Promising to 'drill, baby, drill', Trump notes that with low energy costs the USA will become the undisputed bitcoin mining center of the world.

    Finally, Trump dropped the big guns:

    "The policy of the Trump administration will be to keep 100% of all that it currently holds as the core of the strategic national bitcoin stockpile," and confirmed his promise to commute the sentence of Ross Ulbricht to time-served.

    🚨PRESIDENT TRUMP: "I WILL KEEP 100% OF ALL THE BITCOIN HELD BY THE UNITED STATES AS PART OF THE NATIONAL BITCOIN STRATEGIC STOCKPILE." pic.twitter.com/fDNKvYe0uv
    — Autism Capital 🧩 (@AutismCapital) July 27, 2024

    Watch the full keynote address at Bitcoin 2024 here:

    https://youtu.be/v7KSp4E04PA

    More at: https://www.zerohedge.com/crypto/why...s-mind-bitcoin
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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  3. #2
    I like Bitcoin, but I admit to getting wary every time someone says government should regulate it.

  4. #3
    Just a reminder, Trump is the one that passed a law that taxed crypto to begin with
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

    Donald Trump / Crenshaw 2024!!!!

    My pronouns are he/him/his

  5. #4
    Quote Originally Posted by TheTexan View Post
    Just a reminder, Trump is the one that passed a law that taxed crypto to begin with
    gonna need mo revenue from somewhere , capital gains tax on Bitcoin sales must be the low hanging fruit

  6. #5
    Quote Originally Posted by TheTexan View Post
    Just a reminder, Trump is the one that passed a law that taxed crypto to begin with

    RFK Jr. Pledges Support for Bitcoin-Backed Dollar and Tax Exemption for BTC

    “Like Singapore, Germany, Switzerland, Puerto Rico and Portugal, a Kennedy administration will exempt the conversion of Bitcoin to the US dollar from capital gains taxes”, Kennedy said.
    ____________


    Mises Institute

    An Agorist Primer ~ Samuel Edward Konkin III (free PDF download)

    The End of All Evil ~ Jeremy Locke (free PDF download)

  7. #6
    It is genuinely encouraging that he's coming around on this. While Bitcoin can survive even if the US government is at war with it, it can only just survive, and this makes it almost useless for Americans living here, which means that all the benefits of Bitcoin can only be accessed by non-US people. We need the US government to maintain a "hands-off" stance to Bitcoin and to make this a matter of law, so that future administrations can't do a sudden U-turn on it. If the US government does this, Bitcoin can play an enormous role in revolutionizing the US economy and cratering the Federal Reserve because Bitcoin would allow people to "soft-transition" out of USD and into an alternative currency.

    Quote Originally Posted by Swordsmyth View Post
    In a spirited keynote address, Former President Trump promised to make USA the "bitcoin super-power of the world," ensuring that cryptocurrency is "mined, minted, and made in the USA."

    "We have to talk about Bitcoin. Our country is blessed with the extraordinary talent and genius in this room.

    This spirit built America and will help us make it great again.

    I admire what the Bitcoin community has achieved. In just 15 years, Bitcoin has gone from an idea to the 9th most valuable asset in the world.

    It's already bigger than ExxonMobil and soon it will surpass the market cap of silver.

    That's a big deal."

    He went on with some big promises:

    "I pledge the day I take office the weaponization against Bitcoin ends."

    "On day one, I will fire Gary Gensler and appoint a new SEC Chairman."

    "I will immediately shutdown Operation Chokepoint 2.0"

    Trump also confirmed that he will appoint a crypto advisory council with "regulations written by industry-loving people within 100 days."

    Trump also confirmed that "there will never be a CBDC" while he is president.

    "Those who say that bitcoin is a threat to the dollar have it exactly backwards, the danger to our financial future comes from Washington DC not crypto."

    Additionally, the former president pointing out that

    "Bitcoiners understand inflation better than anyone. You all understood it first."

    Promising to 'drill, baby, drill', Trump notes that with low energy costs the USA will become the undisputed bitcoin mining center of the world.

    Finally, Trump dropped the big guns:

    "The policy of the Trump administration will be to keep 100% of all that it currently holds as the core of the strategic national bitcoin stockpile," and confirmed his promise to commute the sentence of Ross Ulbricht to time-served.

    ��PRESIDENT TRUMP: "I WILL KEEP 100% OF ALL THE BITCOIN HELD BY THE UNITED STATES AS PART OF THE NATIONAL BITCOIN STRATEGIC STOCKPILE." pic.twitter.com/fDNKvYe0uv
    — Autism Capital �� (@AutismCapital) July 27, 2024

    Watch the full keynote address at Bitcoin 2024 here:

    https://youtu.be/v7KSp4E04PA

    More at: https://www.zerohedge.com/crypto/why...s-mind-bitcoin
    Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28

  8. #7
    Quote Originally Posted by TheTexan View Post
    Just a reminder, Trump is the one that passed a law that taxed crypto to begin with
    Source needed.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  9. #8
    I see the mods are trying to hide this in Crypto again when it is very clearly a US politics subject.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



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  11. #9
    Quote Originally Posted by Swordsmyth View Post
    Source needed.
    https://ohiolaw.net/estate-planning-...x-law-bitcoin/

    He closed a tax "loop hole" many crypto holders were using.
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

    Donald Trump / Crenshaw 2024!!!!

    My pronouns are he/him/his

  12. #10
    Quote Originally Posted by A. Havnes View Post
    I like Bitcoin, but I admit to getting wary every time someone says government should regulate it.
    Trump is on the de-regulation side.. he wants a bitcoin reserve, but hey, we have a gold reserve, so why not I guess.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  13. #11
    RFK Jr. said he wants to remove Capital Gains tax from crypto. That makes a lot of sense.

    Currently if you buy anything with crypto, you have to pay Capital Gains tax, which makes it very annoying, you essentially have to report any crypto purchases to the IRS.

    That is one of the biggest things getting in the way of people using it for day to day transactions.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  14. #12
    Quote Originally Posted by TheTexan View Post
    https://ohiolaw.net/estate-planning-...x-law-bitcoin/

    He closed a tax "loop hole" many crypto holders were using.
    The new tax bill closed a loophole for cryptocurrency investors by eliminating the “like kind exchange” exemption for Bitcoin investors who switched to other cryptocurrencies such as Ehereum, Litecoin, or other cryptocurrencies. Until now, investors relied on this law to exchange one asset for a similar one without triggering a tax obligation.
    The IRS made clear that, as of December 31, 2017, only real estate is subject to a 1031 like kind exchange, where an investor swaps one kind of business or investment asset for another. Most swaps are treated as taxable sales, making the 1031 exchange an exception to the normal rule.
    So, they were already subject to taxation, people just found a loophole.
    He is not the one who made them taxable.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  15. #13
    Quote Originally Posted by Swordsmyth View Post
    So, they were already subject to taxation, people just found a loophole.
    He is not the one who made them taxable.
    However you wanna spin it, he increased taxes for crypto holders
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

    Donald Trump / Crenshaw 2024!!!!

    My pronouns are he/him/his

  16. #14
    Quote Originally Posted by dannno View Post
    Trump is on the de-regulation side.. he wants a bitcoin reserve, but hey, we have a gold reserve, so why not I guess.
    Thanks for the clarification.

  17. #15
    Granted it seems out of context, but the things he says here don't make any sense...








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