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0 sats \ 0 replies \ @ssaurel OP 15 Nov \ on: FT: Bitcoin’s big bang moment is impossible to ignore bitcoin
Complete article here: https://archive.ph/a9rIQ
1. Donald Trump to fire SEC Chair Gary Gensler on Day 1
Throughout his presidential campaign, Donald Trump has repeatedly said that the war on cryptocurrency must come to an end. It's obvious that Donald Trump has only one dream when he arrives at the White House in January 2025: to say his famous phrase “You're fired” to SEC Chair Gary Gensler.
In practice, it won't be quite so easy to fire Gary Gensler, who is normally in office until 2026, but the pressure will be so great that it seems obvious that he will have to step down.
In his place, Donald Trump will be pushing for someone who will be progressive in the field. A real revolution for the cryptocurrency world.
2. Donald Trump to commute the sentence of Ross Ulbricht on Day 1
Donald Trump's campaign promise is eagerly awaited in the cryptocurrency world. Donald Trump announced during his presidential campaign that the creator of Silk Road would be released on his first day in the White House.
Arrested in 2015 for operating his site on the dark web, Ross Ulbricht has been serving a life sentence for nearly ten years. His release would be an ultra-positive signal sent by Donald Trump concerning freedom in general.
3. Donald Trump could remove capital gains taxes on Bitcoin transactions
In the home stretch of the presidential race, Donald Trump explained that Bitcoin should be considered a currency when used for everyday payments. It would therefore seem logical to him that Bitcoin should not be taxed in this context. Nothing is certain, but it is possible that Donald Trump will argue in favor of removing capital gains tax from Bitcoin transactions below a certain amount.
This could boost the use of Bitcoin as a MoE. An excellent thing!
4. Donald Trump could support the creation of a Strategy Bitcoin Reserve for America
Cynthia Lummis is already working on a bill to this effect to materialize the fact that America is re-entering the Bitcoin accumulation race during the 4 years of the Trump presidency with a planned purchase of 1 million BTC over that duration. This would be in addition to the 213K BTC already owned by America following various seizures in court cases.
This could launch a veritable race to accumulate BTC by governments around the world while freezing ever more BTC that could no longer be used by people in everyday life.
A good thing for America and its status, but not so good for the Bitcoin revolution and its liberating power.
5. Donald Trump to prevent a CBDC during his presidency
Donald Trump explained throughout his presidential campaign that during his presidency he would oppose the creation of a digital dollar. Donald Trump has joined the camp of freedom, which overwhelmingly rejects Central Bank Digital Currencies as an instrument of mass surveillance.
We can be sure that Donald Trump will prevent the Fed from going ahead with such a project, even if the Fed is independent of the White House.
6. Donald Trump could create a "Bitcoin and Crypto" advisory council
Nothing is certain here, but Donald Trump could well push for the creation of a “Bitcoin and Crypto” advisory council. In my opinion, it would be a good thing to set up such a council with people who have a thorough understanding of this industry, its limits, and its disruptive potential.
All too often, politicians who understand nothing about these technological issues make disastrous decisions without knowing the ins and outs. Other governments around the world would do well to take inspiration from such an initiative if Donald Trump were to follow it.
7. Donald Trump will support the right to self-custody
The right to self-custody is at the very heart of the Bitcoin revolution. The aim is to enable everyone to take power over the fruits of their labor without intermediaries. Donald Trump has already said he will support the right to self-custody. That's a great thing!
It remains to be seen how this will manifest itself in practice, but Donald Trump will certainly be eagerly awaited on this point by the entire Bitcoin world. Every citizen must be able to hold his or her own Bitcoin without having to go through an intermediary. Without this, the Bitcoin revolution loses all meaning.
8. Donald Trump will end the "war on crypto"
The war against cryptocurrency being waged by a few anti-crypto Democratic Senators and SEC Chair Gary Gensler will quickly come to an end once Donald Trump takes office in the White House. This will be facilitated by the fact that Donald Trump will now be all-powerful with a majority in both the Senate and the House of Representatives.
Again, this will be a good thing. It's better to seize the Bitcoin opportunity that presents itself, rather than fight unnecessarily and delay this disruptive industry, which will eventually take hold whether the naysayers like it or not.
9. Donald Trump will make America the global leader in the Bitcoin Mining industry
Donald Trump's strategy remains the same: Make America Great Again.
Donald Trump wants to support the Bitcoin Mining industry, but only on condition that future Bitcoins are issued by American industry leaders. The Bitcoin mining industry in America will therefore be boosted by Donald Trump's arrival in the White House. It's even conceivable that America itself could end up following the example of Bhutan or other countries that mine Bitcoin directly with government resources.
If this were to happen, we can also imagine that game theory would kick in and China would completely change its anti-Bitcoin stance.
10. Donald Trump will make America the world's crypto capital
Along the same lines as the previous point, Donald Trump is ready to support any initiative that is likely to make America a world leader in any field. Above all, Donald Trump wants to fight to preserve America's hegemonic status over the world.
Since cryptocurrency looks set for a great future, then Donald Trump wants America to become the crypto capital of the world. This means that all American companies in the sector will be supported and that the war on crypto that has been holding back innovation in America will come to an end.
Are you looking for the best Bitcoin marketing video of all time?
This video by Jamie Dimon is probably a strong contender.
To denounce Bitcoin and why the government should try to ban it, Jamie Dimon promotes everything Bitcoin brings to the table: Bitcoin frees you from the yoke of governments that have oppressed you for decades.
Bitcoin is our way out!
By repeating that Bitcoin as an MoE is a distraction, Michael J. Saylor has contributed to the growing disinterest in the Lightning Network.
This is a shame because, with his audience, Michael J. Saylor could have encouraged the development of the Lightning Network, which is supposed to be the solution for everyday payments in Bitcoin.
Unfortunately, the numbers don't look good for the Bitcoin Lightning Network.
The number of nodes has been halved, as have the number of channels and the network's Bitcoin capacity. Across the board, all metrics have been halved.
Less and less capacity, and therefore fewer and fewer users.
What does this lack of interest in the Bitcoin Lightning Network mean to you?
Does it represent a victory for the camp of financial giants like BlackRock and Michael J. Saylor, who want to sell to the general public the idea that Bitcoin is first and foremost an SoV that needs to be integrated into the current system?
I look forward to hearing your opinion on the subject.