Bitcoiners have gained a reputation as a libertarian movement. Hillary Clinton refused to accept the digital currency for her campaign based on this premise, according to WikiLeaks. Former Republican nominee for President Rand Paul accepted the cryptocurrency.
Bitcoiners, generally, represent a wide swathe of counter-culture political beliefs, and when CCN.com reached out to readers and Bitcoiners on social media forums and Reddit, we received diverse answers.
“There’s no way in either heaven or hell that a Trump administration would be crypto-friendly,” said Reddit user SeemedGood.
That guy is one of the biggest proponents of big government control I’ve ever seen. He was literally to the left of HRC on many issues during the nominating contests. Really though, the only thing that guy stands for is self-aggrandizement and totalitarianism is generally the most efficient means of governmental self-aggrandizement.
Others lamented Trump’s plans for a wall.
“His main policy is getting Mexico to pay for a border wall by blocking remittances from the US to Mexico,” said edmundedgar.
People would inevitably try to work around this by buying bitcoins in the US and sending the bitcoins to people in Mexico. At that point Trump would try to stop people buying bitcoins.
Trump would probably try to ban bitcoin, suggest others.
“He’s staked his credibility on Mexico paying for a border wall,” adds edmundedgar. “This is his main policy. The leverage he says he’s going to use for this is threatening to block remittances from the US to Mexico. If he tried to block banks from sending payments, people would work around the blockade with bitcoin.
At that point he can’t just give up, because he’d look ridiculous and he hates looking ridiculous. And he has no particular interest in limited government or checks on his own power: see how enthusiastic he is about the government stealing people’s property via eminent domain. So he’d block payments going into bitcoin exchanges, and get people arrested for buying on local bitcoins.” Some will vote for Hillary Rodham Clinton.
“Trump is dumb as a stump,” said MuppetsTakeManhattan
Others believe Trump is straightforward and smart.
“This is wrong,” TheMormonAthiest. “His primary weapon to force Mexico to pay for the wall is very simple. Put a VAT tax on all goods that used to be made in America and have been moved to Mexico. This is a brilliant idea because it instantly recoups money to build the wall AND at the same time incentivises companies to move their factories BACK TO AMERICA and hire American workers to build the product which boosts the USA economy and brings jobs and higher wages to American workers.”
TheMormonAthiest added: “Trump is a businessman his whole life and he knows that the best way to facilitate growth is to remove regulations and get the F out of the way. In contrast, Hillary has sold out to the big banks and hedge funds decades ago and will simply do whatever the entity that gives her the most money wants, ie corrupt. This is the opposite of your totalitarian thinking. Trump is also the only candidate left who has declared that he will NOT use the feds to go after legal weed growers, why? Because he believes in a general philosophy of less nanny state government control, not more.”
As might be expected, many simply won’t vote.
“I couldn’t sleep at night if I voted for either Clinton or Trump,” said chinawat. “Neither has the temperament, character or ethics to be town dog catcher, much less leader of the free world.”
puntinbitcher shared: “Gary Johnson is also in the race, and he’s poised to get more than 5% of the vote for the first time in the Libertarian party’s history,” he said. “His stances are much more in line with the values of most Bitcoin enthusiasts than any of the other candidates. His campaign even accepts Bitcoin donations.” Many celebrate Trump for his appreciation of economics.
“Yes, Trump is far from perfect However he understands free markets and that is HUGE!” said vroomDotClub. Another Bitcoiner said he won’t vote.
“If I were going to vote, though, it probably would be for Trump,” Nichoros_Strategy said.
Only because I believe what we need to see is some real destabilization, rather than the slow bleed that would come from Hilary (and possibly war with Russia). I don’t see why everyone thinks that bitcoin will only increase in value under Trump. It would do much better under Hillary who will continue the cycle of unlimited spending and increasing USA debt.
btc4tr4de adds: “Let’s not forget all the rich guys who will have all their taxes raised under Hillary and will be looking for “swiss bank accounts in their back pockets” etc., he said. “Persecuting these guys will only lead to more and more alternative/shadow banking systems emerging (including bitcoin).”
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Last modified: May 21, 2020 10:13 AM UTC