Trump's 8 Bitcoin Promises: Can He Deliver or Is It Just Crypto Campaign Rhetoric?
Trump’s 8 Bitcoin Promises: Campaign Genius or Policy Fantasy?
The Context: Love him or loathe him, Trump has made cryptocurrency a wedge issue in the 2024 election. His recent NFT gala speech and Bitcoin Conference appearance revealed an unexpected courtship of crypto voters. But as someone who’s studied tokenomics for eight years, I see glaring gaps between political soundbites and blockchain realities.
1. “All Remaining Bitcoin Mined in USA”
Trump wants America to dominate Bitcoin mining, claiming it’ll boost energy leadership. Technically impossible. With only 10% of BTC left to mine globally, forcing geographic concentration violates Nakamoto’s decentralization principle. Bitfarms’ CEO Ben Gagnon told me: “Even with deregulation, no single jurisdiction should control mining.”
2. Paying $35T Debt With Crypto
His NFT event comment about using crypto to erase national debt made headlines. While theoretically possible (El Salvador proved), Ric Edelman notes: “No president can unilaterally create a crypto reserve fund.” This smells more like attention-grabbing than actionable policy.
3. Strategic Bitcoin Reserves
More plausible. Senator Lummis already proposed acquiring 1M BTC over five years. But legal hurdles exist - much government-held crypto comes from seizures (like Bitfinex hack recoveries). Victims might sue if their coins get nationalized.
4. Firing SEC’s Gary Gensler Day One
Every crypto trader’s fantasy, but legally thorny. While presidents can remove SEC chairs, doing so without documented cause sets dangerous precedents. Realistically? Gensler stays until proper succession formalities complete (12-18 months).
5. Killing CBDCs
Aligned with Republican orthodoxy. Multiple GOP bills already oppose Fed digital currencies over privacy concerns. Easily executable via executive order - but future administrations could reverse course.
6. Pardoning Silk Road’s Ulbricht
Politically risky but straightforward constitutionally. Presidents have wide clemency powers for federal crimes. Whether this rewards criminality or corrects sentencing overreach depends on your perspective.
My Professional Take: As a numbers guy, I rate these promises on a “Satoshi Compliance Index”:
- Mining nationalism: 2⁄10 (anti-ETHic)
- Debt solution: 3⁄10 (theatrical)
- SEC overhaul: 6⁄10 (possible with time)
The deeper issue? Politicians treating crypto as electoral confetti rather than engaging its philosophical foundations. If elected, watch whether Team Trump consults actual cryptographers - not just campaign donors.
BlockchainMaven
Corporate Bitcoin Buying Spree: 12,400 BTC Added Last Week While Miners Produce Only 3,150- Trump's 8 Bitcoin Promises: Can He Deliver or Is It Just Crypto Campaign Rhetoric?
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