jakiro
Author: Wu Fireball Leader, Vernacular Blockchain
Recently, Trump attended the 2024 Bitcoin Conference as a top guest.Under the gaze of the crowd, a series of “sweet words” promises that crypto enthusiasts have been published, and they have expressed their “love” for Bitcoin almost without reservation.Trump said that Bitcoin’s market value will exceed gold, and after being elected, it will cause the crypto-unfriendly SEC chairman to step down, and it will also retain the government-staked Bitcoin as strategic reserves, etc., just say “let the United States ALL in Bitcoin”The audience responded warmly and applauded.Thanks to the attendance of Trump and others, this conference has also become the highest-standard Bitcoin summit in history.
“ETFs, SECs, interest rate hikes, elections…” When we found that these huge impacts on the crypto market were all concentrated in the United States, the United States has become the dominant force in the crypto market and has almost mastered crypto assets such as Bitcoin.”Price Right”.The following US election will have a profound impact on the crypto market, so the crypto community has been paying close attention to the US election trends recently.
Trump’s frequent goodwill to crypto assets is a good thing, and some people think it is just a “scene act” to win votes. After becoming president, he will “lift his pants and leave” and even have the possibility of “Destroy the bridge across the river”So how credible is Trump’s sweet words?Who is right and who is wrong?Everything has to start with the propositions and values of the two major camps of the Republican and Democratic Party of the United States…
01Why is Bitcoin favored by Trump and the Republican Party?
Many people believe that in the context of the opposition between Republicans and Democrats in the election year: Bitcoin crypto users are suppressed by authorities dominated by Democratic parties.Trump’s show of goodwill will help win more votes and generous donations, laying the foundation for the next election.This logic makes completely sense, but in this way, it is not guaranteed whether the Republican Party and Trump will “go out of the way” after winning the election. There are many similar examples in history.
In fact, there is no need for this kind of worry. Many people only know one thing but not the other. Another very important background is the always-offering and values of the Republican Party where Trump is located.
Simply put, the Republican values, including Trump, determine their future policy-making route and main direction.In fact, the Republican Party and Trump’s always advocates include:Supporting free markets, personal freedom economic policies and conservative social concepts, and a certain degree of right-leaning conservatism. At the same time, Trump proposed policies to support technological innovation, advocated personal privacy and security, and opposed monetary control and financial regulation with excessive concentration of power,Overall, right-leaning people may be more inclined to support and participate in technological innovation and market freedom.
It is not difficult for us to see thatBitcoin’s core concept of returning financial power to individuals is fully in line with the Republican Party and Trump’s values of personal freedom and market freedom. At the same time, Bitcoin is also more favored and supported as an emerging technology and investment opportunity they support.
This can also be seen from Musk, who also supports the concept of Bitcoin’s value.Musk said in a recent interview that he is an American value admirer. He has supported the Democratic Party in history and has supported the Republican Party now. He is just looking for which party is more in line with the representative of American values in his heart.Currently, the Republican Party is more suitable for the Diversity he advocates, and does not abuse DEI (i.e. Diversity, Equity, and Inclusion, which is a typical leftist value), and advocates basic American principles such as personal freedom, so heNow support the Republican Party.
Of course, Trump’s speech at the Bitcoin Conference is still “smearing”, and his promise will probably be discounted.After all, the purpose of doing now is more to win votes. When you really have a high position, you need to weigh the pros and cons. The implementation of the new policy is bound to attract controversy again.
Finally, let’s see if you look at the dull reaction of the Bitcoin market after Trump’s speech. Everyone is very clear about it and cannot listen to what he says, but to see what he will really do then.
02Why do Democrats not like Bitcoin so much?
As the leader of this U.S. administration,We have seen what the Democratic Party has done in recent years. Although its attitude towards the near-election has eased, in fact, Democratic leaders including Biden, the SEC Chairman, and the current presidential candidate Harris almost don’t seem to like it very much.Bitcoin.
It is still a question of values. As mentioned by Musk, Democrats are obviously left-leaning stance and policy propositions, and some have even criticized them as “extreme left”.In the Democratic Party’s propositions, including environmental impact and sustainability, financial inequality and social justice, stronger regulation, it embodies its values of weakening individual freedoms and power to emphasize public and collective interests.
Obviously, under the left-leaning values, the core concept of Bitcoin is not so harmonious, so the left-wing Democrats, including Biden and Harris, do not like Bitcoin so much.
03No matter who is elected, the wheel of history cannot be changed
1) There are also many supporters within the Democratic Party
Although the Democratic Party is left-leaning, not everyone is “extremely left”.Most people are rational people and discuss things. The Democrats have previously made it clear that they will move closer to the centrists and stay away from the extreme left on market and financial regulation issues.
Previously in the bill banning crypto-unfriendly cryptocurrency accounting policy SAB 121, the Republican-led House passed 228-182 votes, and the Democratic-led Senate passed the resolution by 60 to 38, although it was ultimately directed by Bidenveto,But it can be seen that a considerable number of Democratic Party support Bitcoin. I believe that with the internationalization and mainstreaming of crypto assets, more progress will be made in the future.
2) Core values of the United States
For so many years, people have always believed that Bitcoin is one of the main challenges to the hegemony of the US dollar and should have been blocked long ago. Even if the United States cannot completely block it, it has the ability to marginalize it.But in fact, it is not just because of Bitcoin’s own anti-fragility, but also one of the reasons behind it is that Americans cannot violate the core values of the United States.
Individuals have been banned from holding gold in the United States, however, some believe that this ban violates the principle of personal freedom and is regarded as an infringement of personal freedom and property rights, and the abolition of the 1974 ban is regarded as a restoration of economic freedom and individual rights.Although the ban played a role in responding to the Great Depression, it was seen by most people as a failed policy in the long run because it restricted individual freedom and failed to fundamentally solve economic problems.
Now Americans know that it is difficult to ban Bitcoin as privately held as they did back then. First, there is a lesson in failure. Second, Bitcoin is just a string of characters compared to physical gold and cannot be surveillance through snooping and surveillance.Every American’s personal privacy is enforced.
If the Americans do not even have the power to hold a set of strings in their hands, they have to overturn the Statue of Liberty first.In fact, no matter how different the Democratic Party and the Republican Party are, no one can stand up and overthrow the Statue of Liberty, which symbolizes freedom, democracy, and the American Dream. These core values can be said to be the foundation of the United States.
04summary
In the debate, crypto assets such as Bitcoin have also been able to obtain the soil for growth, spiraling up.No matter who is elected in the end, it cannot change the wheel of history. If you don’t believe it, you can see that Bitcoin has become a reserve asset and only one layer of window paper is left…
