Last week, I stated my opinion that I believe Donald Trump is the best candidate for Bitcoin in the upcoming 2024 presidential election. Aaron responded, and after reading it, I feel like he is still missing the bigger picture. The main points that Aaron makes seem to be that Trump is only using Bitcoin users to get their votes, and that he will not keep his promises.
While I partly agree with the first point, I disagree with the second. Contrary to what I’ve seen from some Bitcoiners online, I don’t think Trump has to be a die-hard Bitcoin fanatic and a cypherpunk to be a great Bitcoin president. This is why.
Trump needs all the votes he can get. Naturally, he will try to appeal to our voters, especially since most of us already have right-leaning political views. It makes sense for the Republican Party to embrace freedom money, since they lean more toward freedom principles now, while Democrats have become more authoritarian.
So voting for Trump is a win-win. We got more votes (some in critical swing states), and we got a better environment for our industry. Sounds like a good trade to me.
This brings me to where I disagree with Aaron. I believe Trump will deliver on most, if not all, of the promises he made when it comes to Bitcoin. Because most of the promises he makes seem like relatively easy things to implement. It’s not like he’s alone on this issue — there are now multiple pro-Bitcoin senators and congressmen holding him accountable.
There’s Senator Cynthis Lummis, who wants to create Bitcoin Strategic Reserve (Using BTC already owned by the government). There’s Congressman Tom Emmer, who actually wants it fire SEC Chairman Gary Gensler appointed a better person for the industry. You can go to StandWithCrypto.com To see the rest.
If elected, Trump will have plenty of other, arguably more important, issues to deal with. The fact that his policies would give Bitcoin users a friendly regulatory environment to build on, and prevent anti-Bitcoin politicians from continuing to attack the industry, all without Trump interfering in it, seems like a perfect storm for innovation.
The fact that he did things like Bring Bitcoin miners Going to Mar-a-Lago to better understand the industry is evidence enough to make this point.
I think a lot of people are overly critical of Trump because he said he wasn’t a fan of Bitcoin in 2019. But that was a long time ago, and everything has changed since then. It doesn’t make sense to hate people for turning to Bitcoin after not being a fan of it. (That said, I think it’s okay to criticize non-Bitcoin initiatives that Trump has promoted, like World Liberty Financial, but even that isn’t worth losing all the benefits of his presidency.)
So why would Trump release Ross now when he already had the opportunity to continue his final term?
In politics, as in Bitcoin, it is all about incentives, and here the incentives are compatible.
This article is a takes. The opinions expressed are entirely those of the author and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.
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