Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Trump will compete directly with Bitcoin
by
BlackHatCoiner
on 07/11/2024, 15:51:04 UTC
⭐ Merited by JayJuanGee (1)
The PATRIOT act was signed under George W. Bush 20 years ago, so this had nothing to do with Biden.
Please read the actual piece of legislation. Here's a post that quotes the essence: https://bitcointalk.org/index.php?topic=5446635.msg63029978#msg63029978. This proposal was published in 2023, under Biden, and it basically describes that for Bitcoin use to be legal, you must go through a fully licensed third party, fully KYC-ed.

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Millions of Americans self-custody their Bitcoin, and nobody is breaking any law by doing so
... so far. For if democrats were allowed to govern the US for another four years, I highly doubt they wouldn't attempt to step forward into more, similar dystopian proposals. (I don't believe republicans are way better in this regard, but I find it moronic to think of Biden as pro-Bitcoin, just because self-custody wasn't "banned" since he entered office.)

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If you are expecting some kind of miracle from Trump being elected, it's not going to happen.
I'm not expecting any miracles, and I don't rely on politicians. But, you've presented a viewpoint suggesting that Bitcoin's success is completely dependent on a political party. IMO, you're being excessive, because you suggest that everything would be fine if President X were in office, just because Bitcoin ... wasn't made illegal for as long as his presidency ..., while President Y would lead to the complete collapse of the crypto space, because... he just wants to pump his coin...