What political challenges could Bitcoin encounter ahead

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#1Apr 29, 2017, 04:09 AM
Yesterday I caught some news that suggested Bitcoin's price might completely crash in the future. They had a few reasons for this, and after doing a little digging myself, I found some insights that lean towards a potential drop in value. Bitcoin’s decentralized nature means it’s not really controlled by anyone. So, if someone or some country wants to manipulate its price or point fingers, they’d need a hefty amount of Bitcoin and quite a bit of influence. Right now, we’ve got Donald Trump making a lot of noise about Bitcoin, telling people to buy and hold. Looking at the US debt situation, it’s clear they’ve got a mountain to climb in terms of repayments. If Trump starts urging folks to hold onto Bitcoin and then the US announces they’ll tackle their debts with Bitcoin, that could shift things. With Bitcoin’s current low prices, if they snag some coins now or after a further dip and then say they’ll use it to settle debts, that might spark a buying frenzy, pushing prices up. But here’s the kicker: once the debts are paid off, if they turn against Bitcoin, we could see a massive drop. The main reason for this could be that they settle debts with less cash upfront and then start to criticize Bitcoin. Like, they’ve paid the debt and that’s it.
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cipher42Full Member
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#2Apr 29, 2017, 09:26 AM
Bitcoin has gone through the hardest time in its history, that is its earliest years with little developers, Bitcoin full nodes, miners, small network hashrate and less secure blockchain. Now in 2026, its blockchain has become more decentralized, better secured while its adoption is much bigger, its legality globally became better too. Politics is not stable, it always changes with time and presidencies but Bitcoin won't disappear by politics. Please don't let such fuds make you fearful, panic and shake your hands, sell your bitcoins at cheap price in panic mood. https://endthefud.org/governments
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1t5_omegaHero Member
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#3Apr 29, 2017, 03:51 PM
The OP brings up a lot of different points. For me, the biggest political trap is that if Trump keeps messing things up, the Democrats could win in 2028 and reverse the pro-Bitcoin policy. I just hope that even if the Democrats win, there will be enough lobbying pressure to keep them from changing the fundamentals.
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jake.chainSenior Member
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#4Apr 30, 2017, 07:03 AM
US is not the only one that holds or uses bitcoin. Even if bitcoin is no longer used in USA, it's not gonna crash completely.
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guru365Full Member
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#5Apr 30, 2017, 09:52 AM
This is highly unlikely, but sure let us assume that the US will use their fund to accumulate Bitcoin and use it to pay for their debt, would this strenthen the foundation of Bitcoin?  It will possibly result in Bitcoin market surge and may nullify the Bitcoin 4 year pattern. True, if a major country announces to the public that they will be accumulating, investors will surely join the race and accumulate Bitcoin so that they can sell it higher in the later date.  I do not think that Bitcoin will ultimately crash after the US settles its debt with Bitcoin and stops accumulating. I think if the hype is very successful, the effect of the action and announcement of the US will linger longer and possibly will affect the market permanently, thus strengthening the market, enabling the market to resist a sudden crash. I am curious, how can Bitcoin oppose Bitcoin?  How can it lead to a Bitcoin market crash? I do not think the stance of the government will change instantly, unless it was pre-planned.
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satoshi2020Senior Member
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#6Apr 30, 2017, 01:56 PM
I don’t think the US will pay or dream of paying their debts in bitcoin, the US won’t want to use any other currency in doing any transactions infact what will that spell for the US dollar, the currency that is mostly used world wide for international transactions now the US using bitcoin to pay their debts. It doesn’t matter the love that Donald Trump has for bitcoin he can never compromise the US dollar relevance for bitcoin.
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whale777Full Member
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#7Apr 30, 2017, 04:30 PM
Bitcoin was there and did great before Donald J Trump became the 47th president of America, when he began showing interest on the technology and currency, he did made an impact, but that's not all for Bitcoin if he stops showing support or if he completes his tenure, even if democrats gets to rule again and decide to be tough on Bitcoin and bitcoiners, it'll make no difference, because Bitcoin is too big to be manipulated by politicians, they've tried to be against it and it didn't work, now they claim to be a part of it, and still nothing changed, I don't think any political trap awaits Bitcoin, it's a seamless technology that requires no help from politicians to proceed.
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raven1337Hero Member
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#8May 1, 2017, 09:30 AM
Oh, gee, you think cementing Bitcoin's brand to the most divisive president in US history was a bad idea or something? That crypto becoming the #1 political donor in the USA might actually bring some political backlash from people who hate the idea of our government being bought by oligarchs? It doesn't matter what I think or anybody here thinks: to most Americans, Bitcoin is a "Trump thing". And if Trump's brand diminishes, so will Bitcoin's. It might all be fine, and Trump may end up being very popular, and thus the price of Bitcoin will stay where it is or even go up. But if Trump and his Republican party cause the USA great hardships and destroy our economy, then Bitcoin could easily lose almost all of its market cap, or even be declared illegal again if the backlash is strong enough. In other words, if you want to imagine the possible downside of Bitcoin today, imagine if Bitcoin was being propped up by Ferdinand Marcos in the Philippines in the 1980s or Hitler in Germany in the 1940s. Both very popular leaders until they weren't, and when they weren't, the countries didn't want anything to do with them. Nobody knows what is going to happen, but the greed driving Bitcoin's price has set it up for an "all or nothing" sort of outcome. In 2024 the industry basically said, "we don't care about any possible future, just get the price up right now". (Perhaps it's because the Bitcoin Whales behind all of this know they can bail out of the market faster than regular investors, so they don't risk any serious downside?).
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nova69Member
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#9May 1, 2017, 03:28 PM
Bitcoin cannot be controlled by the US and no one is in Bitcoin due to the US announcement. Yes, the Bitcoin market may see a slight decline due to the negative announcement by the US, but it will return to normal in a very short time. The world is no longer Trump's puppet, especially in the case of Bitcoin. From my point of view, I never follow Trump, most of the Bitcoin users probably do not follow Trump. If the US is able to do this, then we can no longer call Bitcoin decentralized, because someone is controlling it. Even Bitcoin has now become such a fiat currency that someone will fill the void of the US when the price drops too much.
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degen23Full Member
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#10May 1, 2017, 03:44 PM
If something is related to politics, we don't need to expect much that it will continue to run smoothly without problems.. maybe during this period when Trump is still president and the republic is still in power, we can see that the US will still view Bitcoin as a strategic asset, but after this when another candidate from the democratic party takes power, we don't know what they will do with all the fundamentals that have been made by the previous administration to Bitcoin, because they could change it and not pay much attention to Bitcoin anymore. so anything can happen and don't be surprised if everything might change unless there are concrete steps to prevent extreme changes in policies related to Bitcoin.
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im_oracleMember
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#11May 1, 2017, 05:35 PM
They can only influence some ignorant people's decisions but can't control Bitcoin or make it crash, people are getting smarter about Bitcoin and i doubt that the US government would dump it if they succeed in using it to settle their debt, which they can with or without investing in it. You made the right decisions cause blindly following influential people or big players could be misleading if they make wrong decisions in the long run.  Bitcoin would continue to be decentralized cause that's what makes it unique, it's what attract lots of people to own it and it can't lose that unique feature cause of the US, if they had the power they would've done it long ago but it's over a decade now and it still remains decentralized.
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omega2017Full Member
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#12May 2, 2017, 12:45 PM
Taxing is #1 You pay for a bomb and gets it right back. We got election here. Got no interference noticed. Soeh. I just glue the left wing on and it will be fine? Cheers! Pigeon mode. You don't pay for bombs when you buy btc. You don't pay for a floor. You don't pay for an angry tyrant being just that. You pay to not get stressed. I need the combatents back to their corners before we can go on. You don't pay for complaints coming out of a factory you own. If the contender hits you to hard. You know i rock a microphone on chance. You should wait for some shit getting you out of the fight. Pull your hair in frustration and know God is under the hat. Next! Tell you. The birds got lucky that i was on it. It's back to speculation. A human council would demand some of you isolated to keep the original strain. Not talking about reserve kidneys for Putin. I'd rather talk about how you keep nazi's at bay. How you elimintate their tiny heads if you give them stupid ideas. The money comes in second. For paying any kind of restitution your up to. So i don't get Jake Bro semi crying. Murder is not accepted. Round two. Stop killing. Your favorite scenario. You wanna freeze on the back of a pick up truck after you tried it once? What comes out of you is cold but you survive. The suffering would come down for an equalizer. How the fuck you think about having a great time? Beyond Hamsun sucking on a button. Why we keep you isolated? I tell you. Since all the tables are on the table and your not trusted.. Wait for it. Don't go smash a pizza bar and think revolution has started. I confined the button that can destroy the world. It's interconnected by now. I build on it. First principle is based on behaving. Hope I don't wake up the dead. Cheers! Electric land. As you are. My line. You know the movie where they try to teach a computer it can't win a war. If it's all granted. Where it lands. I want only real angels in place. We take the fud to a place where we can ridicule it. I wonder why the overseer don't use caps all over the place. Since you know what a retard is.
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stack_2019Full Member
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#13May 2, 2017, 03:54 PM
First of all, the US government is not going to be able to pay all their debt at once, and even if they do, they will probably not use Bitcoin for it but USD, but for the sake of the discussion, let's say they do it, I don't see any reason why once they are done with it, the price of Bitcoin will decrease. Besides, considering the fact that there aren't enough bitcoins available for them to buy and use to repay the debt because the market cap of Bitcoin at the moment is around $1.42T, and the US national debt is above $39T, so even if they buy all the available bitcoins in circulation, they will still be able to pay only $1.42T from the total debt, and they won't even be able to get all of them since they are not all available for sale at all times. Despite all that, if they still decide to do it, even in portions, it is only going to be a positive thing for Bitcoin because volumes will shoot up, and that will increase the price, and the receiving party will obviously keep selling on the other hand because they are not going to keep bitcoins, of course, so the price will probably stay balanced, and after it's all done, even if the US government oppose Bitcoin and its existence, that isn't going to make much of a difference because Bitcoin is global, and a single country opposing it won't stop it anymore.
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raven1337Hero Member
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#14May 2, 2017, 06:57 PM
It's ironic that people here are denying Trump's influence on the price of Bitcoin on the same day that one statement from Trump* made Bitcoin go up by 4% in a few hours.  (* And the fact that his statement was obviously false emphasizes his control over the price of Bitcoin even more: he can literally just make something up out of thin air and the price of Bitcoin will react in an extreme way. Think about that for a moment).
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jakewolfFull Member
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#15May 2, 2017, 09:01 PM
During his second term, Trump has alienated many people whose goals differ from those of the majority, which makes him seem, in my opinion, like he’s working for investors. If more and more people oppose him, public trust in what Trump says will decline. Bitcoin is owned by many people, and they do not all come from a single country like the United States. I can say that Bitcoin’s future still hinges on supply and demand. As long as this principle holds, market price fluctuations will continue to follow normal patterns.
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byte_protoFull Member
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#16May 3, 2017, 12:08 AM
Democrats are pushing and finding faults against everything done by Trump, while some see kind of fair even if they might not win the next election they more likely will win one in latter years but I think governments can not fight or win against cryptocurrency in the long run, they will only settle for some regulation because we the are not going to allow it. For me, as years goes by it becomes more difficult for them because all these started with a negative stance, while we were still a far minority but now I am grateful how far we have come and people stance have become better and stronger. Bitcoin is not a Trump thing! Yes he holds lot of influence at the moment but with time the influence will fade away just like how Elon Musk is no longer as influential like he was in this space or in related to Bitcoin.
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maxbridgeFull Member
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#17May 3, 2017, 02:38 AM
Bitcoin is Decentralized and the market prices can always be manipulated by the economy and political news while investors attributes with their short and long term trading activities is also event that has the potential influence to manipulate the Bitcoin prices. No one of influence has the autonomous ability to control Bitcoin price within their directives, you can only influence investors and adoption. Volatility is always unpredictable.
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raven1337Hero Member
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#18May 4, 2017, 05:49 PM
According to you and a tiny number of Bitcoin hard-cores who like to post here, that's true. But to most Americans today, Bitcoin is a Trump thing. No doubt Trump will fade away in influence, just like Hitler did in Germany and Marcos did in the Philippines. But it might take 10-20 years before Bitcoin gets its brand name back. In the mean time you would probably be much better off holding other assets like metals or stocks. Buy back in at around 2040-2045  . And Elon Musk, as he recently found out the hard way, is utterly nothing compared to the power of the US presidency. Trump tossed him out like yesterday's garbage and there was nothing he could do about it. (Although he too is stuck with the stench of Trump for the rest of his life whether he likes it or not).
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w1z4rd100Senior Member
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#19May 5, 2017, 01:54 PM
It seems OP is telling the United States or Donald Trump will start owning Bitcoin and start manipulating so it will be in their favor, like basically pump it and then sell it in the future to make profits and pay all of their debt? Well, that's not how it works because if Bitcoin works like that for sure there are already other countries will do it or other billionaires will start doing it.
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cryptobridgeSenior Member
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#20May 5, 2017, 08:10 PM
I hate the fact that Bitcoin is to tide to US, its understandable that US rock the world but this is too much, it's more about politics than what we want as adoption. We don't want Trump to say we should hold, we want the government to make it possible for everyone to want to hold Bitcoin, imagine Bitcoin become a legal tender in the US, the narrative of the market will change, the US micro and macro economy will shift to one side until the fomo is done before we will come back to those factors. The Trump administration are politically motivated around Bitcoin but doesn't want to do the right thing, I still remember the promises they were doing during the campaigns and all of that. He was seeking funds and accepting all kind of crypto donations but he doesn't want to approve the Bitcoin reserve, I don't want to believe the seize coins are the reserve, that wasn't what was promised. If it's to start war now, he will be quick about it but wouldn't do the necessary.
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