Trump says he wants all remaining Bitcoin to be made in the US

[JoyMarsha]

It will be hard for miners to easily trust Trump on this, no matter how he sugar-coats his political campaign words on crypto. The miners wouldn't dare to leave their area of comfort, to come to the USA where laws or taxes would chase them away.

Miners should stay where they are until we see Trump win the US presidential election, and how his first year to second year of rulership will be towards crypto.

[ABCbits]

If he intends to make that a reality, he should stop 30% mining tax proposal. Although when many years ago people concerned majority Bitcoin mining happens on China, people shouldn't be excited for this Trump's claim either.

I think most things are better in a democracy compared to a dictatorship. At least there are laws that protect citizens privacy and other individual rights in the US.

I agree. Although if Trump wins, who knows how much democracy remains in US. I hear his Project 2025 aims to give more power to president.

I think it is one of the promises that can be believed. moving mining to the United States will be good, so that they can be forced in the future to implement blacklists or influence the network if all mining pools are suddenly closed, and moderate taxes can be imposed on them, in addition to the fact that these activities will provide directly or indirectly
I hope @philipma1957 gives us his opinion here.

Sadly, I think you're right here. I think the USA is trying to make sure they get all the tax money and other countries can fuck off. I don't feel like the USA having a Monopoly in the mining is in the best interest of the people or best interest of bitcoin. If the USA starts controlling shit, it's basically game over.

A possible problem here is that it should be easier to enforce address blacklisting for miners (avoid confirmations from blacklist addresses) when most miners are in your territory...

We just have to remember when MARA pool attempt censorship.

[Stompix]

Trump can't do a thing about this!
He can't and he won't be able to offer subsidies to miners, which will really go bad with these other voters, he has little power on state level and more than that it's impossible for a country even the size of the US to offer better electricity tax deals than everyone else, including corrupt governments elsewhere!

That being said, the US will definitely hold the majority of the hashrate for years to come, with China out of the game there is simply no large enough player on the market with that much cheap energy available, like space capacity to compete with the US. So while Trump's promise is just another promise, a 66% percent will most likely happen naturally.

[bitmover]

That being said, the US will definitely hold the majority of the hashrate for years to come, with China out of the game there is simply no large enough player on the market with that much cheap energy available, like space capacity to compete with the US. So while Trump's promise is just another promise, a 66% percent will most likely happen naturally.

Why is China out of the game?
They have one of the cheapest electricity in the world, and also low cost hardware available.  Legal problems?

[Gurujebs]

It will be hard for miners to easily trust Trump on this, no matter how he sugar-coats his political campaign words on crypto. The miners wouldn't dare to leave their area of comfort, to come to the USA where laws or taxes would chase them away.

Miners should stay where they are until we see Trump win the US presidential election, and how his first year to second year of rulership will be towards crypto.

It's unbelievable how people knows that politicians are well known for promise and failed situation of politicians and yet they are strongly wanting him to win especially the cryptocurrency people, I'm not sure if this is their true interest or just some groups of people politically motivating people just for him to win the election at all cost.

If there is a way things can be done before elections, it will really help people from being deceive by this political movement. He was there for good 4 years and never did anything serious about crypto or even the miners but all of a sudden, they became a fan later all because of reelection.

[philipma1957]

I think it is one of the promises that can be believed. moving mining to the United States will be good, so that they can be forced in the future to implement blacklists or influence the network if all mining pools are suddenly closed, and moderate taxes can be imposed on them, in addition to the fact that these activities will provide directly or indirectly
I hope @philipma1957 gives us his opinion here.

missed this was busy this last weekend.

In the USA and world  in dec 2017 btc and crypto was whaling smoking firecracker hot.

Trump passed the like kind trade law that end the tax break of trading coins with no tax reporting.

the law came into effect on Jan 1 2018 and crypto crashed in 2018.

So I think Trump knew how to hurt BTC bigly in 2017 and he did.

I would not trust him as a BTC supporter.

Does it mean I think Biden is good nope.

I think the USA is about to get fucked bigly over the next 4 years.

It is like I get to pick a lion 🦁 or a tiger 🐯 to watch me while I sleep. 💤

God help us all.

[Stompix]

Why is China out of the game?
They have one of the cheapest electricity in the world, and also low cost hardware available.  Legal problems?

Chinese miners would have an advantage but their problem is that the government doesn't want them consuming that, they simply see no reason to allow an energy-intense industry in the middle of their transition for different sources.
With mining is the same always, it works great in some countries till it outgrows the usual capacity and turns everyone against it we have seen it again and again in a dozen countries or us states.

[Freemind]

1 - Immediately release the developers of Samourai Wallet and Tornado Cash (I'm sure I've forgotten many more) from the prisons where they are serving their sentences.
2 - Immediately stop the persecution to which some Bitcoin service developers are subjected.
3 - Bitcoin to become a legal tender in the US.
4 - Free electricity (or very cheap).
5 - A very low tax rate for miners.
6 - Insert here many other good ideas.

If Trump signed a legal document committing to do the things I said above, I'm sure a lot of things would change. But as we know, he won't do any of that. Although if Trump really wanted to do it it wouldn't be very difficult for him with measures like those.

[philipma1957]

1 - Immediately release the developers of Samourai Wallet and Tornado Cash (I'm sure I've forgotten many more) from the prisons where they are serving their sentences.
2 - Immediately stop the persecution to which some Bitcoin service developers are subjected.
3 - Bitcoin to become a legal tender in the US.
4 - Free electricity (or very cheap).
5 - A very low tax rate for miners.
6 - Insert here many other good ideas.

If Trump signed a legal document committing to do the things I said above, I'm sure a lot of things would change. But as we know, he won't do any of that. Although if Trump really wanted to do it it wouldn't be very difficult for him with measures like those.

If Trump gets in he will go out of his way to hurt BTC.

He did it in 2017 he will do it again.

I can think of a lot of ways to hurt BTC so can he.

[bitmover]

4 - Free electricity (or very cheap).

Nothing is free in the world.

If electricity becomes free, that would mean that taxes would pay for electricity.  Making taxes higher. Venezuela did that..

[JoyMarsha]

It will be hard for miners to easily trust Trump on this, no matter how he sugar-coats his political campaign words on crypto. The miners wouldn't dare to leave their area of comfort, to come to the USA where laws or taxes would chase them away.

Miners should stay where they are until we see Trump win the US presidential election, and how his first year to second year of rulership will be towards crypto.

It's unbelievable how people knows that politicians are well known for promise and failed situation of politicians and yet they are strongly wanting him to win especially the cryptocurrency people, I'm not sure if this is their true interest or just some groups of people politically motivating people just for him to win the election at all cost.

If there is a way things can be done before elections, it will really help people from being deceive by this political movement. He was there for good 4 years and never did anything serious about crypto or even the miners but all of a sudden, they became a fan later all because of reelection.

Not only did Trump not do anything serious about crypto, he fought against it by giving a bad impression about it to the whole world. He thought that crypto believers would easily forget and forgive him for that. That's funny.

However, the people of America know what he's up to, they can't give Trump the same opportunity he misused to rule them before. Therefore, Trump shouldn't desist from making blatant campaign promises of crypto that are full of lies

[bitterguy28]

Trump says he wants all remaining Bitcoin to be made in the US

June 12 (Reuters) - Republican presidential candidate Donald Trump said on Tuesday that he wants all remaining Bitcoin to be made in the U.S.
The crypto industry is increasingly trying to influence U.S. politicians as it faces heightened scrutiny from regulators, especially since bankruptcies at major crypto firms in 2022 spooked investors, exposed fraud and misconduct, and left millions of investors out of pocket.

https://www.reuters.com/world/us/trump-says-he-wants-all-remaining-bitcoin-be-made-us-2024-06-12/

Looks like trump wants to incentive miners in the US, and probably make miners move to us.

He wants the crypto ecosystem to be welcomed there. Amazing!

Trump have been bitcoin enemy since day one and with this statement now once He claimed the presidential office again ? Miners might turn their ways in US to do business because this seems a turn of tables for crypto community specially bitcoin supporters.

Donald Trump flips on crypto: From 'scam' to building a 'crypto army'
Once a “not a fan” of cryptocurrency,


 Trump has reversed course and is poised reap a $100 million windfall from an embattled industry looking for friends in Washington.

https://www.nbcnews.com/politics/2024-election/donald-trump-flips-crypto-scam-building-crypto-army-rcna157171

that shows how trump changing gears now.

[bitmover]

that shows how trump changing gears now.

It is no shame to change his mind (even if the reason is to get more allies and votes)

Crypto is not the same as it was in 2016. I think a lot of people changed their mind about crypto and wee will see more.

[Stompix]

Crypto is not the same as it was in 2016. I think a lot of people changed their mind about crypto and wee will see more.

He was president till January 2021, and he did not even do anything good for crypto.
Especially since we talk about mining here, he's the guy who slammed a 27% tax on mining gear right in the middle of his presidency, so talking about how he wants the US to dominate mining after taxing the hell out of them is a bit ridiculous.

4 - Free electricity (or very cheap).

For a thing that was supposed to be taking the money out of reach of the government crypto users sure love freebies 
Who is going to pay for that electricity?

[Freemind]

If Trump gets in he will go out of his way to hurt BTC.

He did it in 2017 he will do it again.

I can think of a lot of ways to hurt BTC so can he.

I don't believe a single word that Trump says related to Bitcoin or cryptocurrencies in general, he has had a lot of time to do many things, what a coincidence that these statements are made when he has the opportunity to re-enter the White House.

For a thing that was supposed to be taking the money out of reach of the government crypto users sure love freebies 
Who is going to pay for that electricity?

I know I know, I know electricity can't be free. I also said very cheap . The thing is, regardless of what Trump does or says regarding cryptocurrencies, I don't think he has much credibility.