User: Saucemanofff

This user really deserve to get permanent banned, look the way he copied the whole ideas and use AI or change some words. It's really funny someone copied someone else thread and he post in the same section, maybe he think people are dumb lol.

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Quote from: Saucemanofff on Today at 02:35:25 PM

Some people are quite obsessed with the US election. I can partially understand this due to Trump being the first US presidential candidate (to my knowledge) to openly support cryptocurrency. However, this doesn't mean that Bitcoin will falter if Kamala Harris wins. Even without a clear public stance on crypto or Bitcoin, she is expected to maintain the Biden administration's more cautious approach towards cryptocurrencies, especially altcoins.

For these reasons:

Even during Biden's less crypto-friendly presidency, Bitcoin has thrived. Not only has its price increased, but Bitcoin and Ethereum ETFs have been approved.

The US is already a major player in the Bitcoin and crypto space. Mining dominance, numerous exchanges, and high adoption rates (approximately 50 million Americans holding crypto) demonstrate this.

Altcoins are more vulnerable to SEC regulations than Bitcoin. The SEC's actions under Gensler have primarily targeted altcoin exchanges, staking platforms (often resembling Ponzi schemes), and centralized DeFi projects like Uniswap.

As only 4% of the global population, the US has limited influence on Bitcoin, a global currency. Moreover, the US already has significant crypto adoption (nearly 20% of the population).

Future price growth is primarily driven by expanding adoption in other regions, including many European countries with lower penetration.

Let's hear your opinion

Original

Quote from: d5000 on September 12, 2024, 09:49:48 PM

Some folks are really obsessed with the US election. I can understand it partly because Trump, as the first candidate ever in US election history (afaik) has taken a very pro-crypto stance.

But that doesn't mean that Bitcoin will not be fine if Kamala Harris wins. Even if she didn't reveal her stance on crypto/Bitcoin (yet) and is likely to continue the Biden approach which is more skeptical to "crypto", above all altcoins.

For those reasons:

1) Even in Biden's "anti-crypto" tenure Bitcoin has done well. Not only did the price rise, but ETFs were approved, even for Ethereum.

2) The US are already a leading Bitcoin/crypto country. They don't need Trump for that. In the mining sector, they are "the" single leading country. There are also several exchanges in the country. At least ~50 million American people hold crypto according to estimations.

3) Altcoins are far more affected by the SEC policy than Bitcoin. The SEC's actions under Gensler were mostly directed to altcoin exchanges, the "staking" business (which is not even really PoS-style staking but often a ponzi-like construction of some exchanges) and DeFi projects which are not really decentralized, like Uniswap.

4) The US are only 4% of the world population. Bitcoin is a global currency. In addition, as shown above, in the US population crypto has already a high adoption (almost 20% of the population having already bought or held crypto). The potential for future price growths lies mainly outside the US where adoption is often still much lower, even in rich countries in Europe for example.

These "projections" that Bitcoin will fall to 30.000 or so if Harris wins are, in my opinion, completely baseless and overestimating the US influence on Bitcoin.

Discuss & Disagree