Re: How do you think crypto donations to campaigns might shape Bitcoin regulation?

Quote from: freedomgo on October 21, 2024, 11:28:20 PM

I read that "Ripple Labs Founder Donates Another $10 Million in XRP to Support Kamala Harris," and we all know Ripple still has that ongoing SEC case. By principle, politicians shouldn't take gifts that could mess with their decision-making. So, what if Kamala becomes president? Ripple will definitely expect something back for their support.

Business owners can donate to political parties for many reasons. Elon Musk has committed close to $70 million to the reelection of former president Donald Trump. Musk is believed to like Trump's proposed tax policies and his stance on transgender and abortion. Trump has also promised to make him part of his team if he becomes president.

Ripple's donation might be targeted at having a soft landing from the legal battle with the SEC. However, the US system is highly complex a just a donation might not be able to influence government decisions. We all know that Sam Bankman-Fried donated close to $100 million to political parties but it didn't stop FTX from going bankrupt and him going to jail.

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And what if politicians take donations in altcoins, like how Trump also received some? Does that mean their decisions on regulations could end up favoring altcoins over Bitcoin?

Bitcoin is like the locomotive in the train, while altcoins are like the coaches. No matter how you try you cannot move the coaches without the engine.