The world’s biggest annual Bitcoin gathering just went down and boy did it make some waves! The presidential candidates were all vying for the crypto crowd’s support. Let’s see how each of them did:
Trump scored some major points by promising to fire the crypto-hating SEC Chair Gary Gensler on day one. The audience went wild! Trump also said he’d set up a national Bitcoin stockpile and never sell but looking under the hood that seems like one of those campaign promises just to get you riled up. He’s really trying to be the Bitcoin candidate. I wonder why they’re trying to assassinate him 🤔
RFK Jr. went even further, saying he’d have the gov buy and HODL 4 million BTC! Now that’s commitment.
And where was Kamala Harris during all this? Giving the conference the cold shoulder after rumors she might attend. Her loss!
The big takeaway: Crypto is becoming a key election issue that candidates can’t ignore anymore. Support for responsible crypto innovation is crossing party lines. But Trump and RFK Jr. are going hard to win over Bitcoiners and the crypto community. Harris better step up her game if she wants those votes!
The Trends Journal’s Take: No matter who wins in November, a few things seem clear for crypto:
- Expect the U.S. to compete harder to attract and keep crypto innovation and talent
- Energy policy will need to account for crypto’s growing needs
- Clearer regulation is coming, but hopefully in a way that doesn’t stifle innovation
- Global competition in the space will keep heating up
What should crypto investors do? Stay engaged, support pro-crypto policies and candidates, and keep stacking those sats responsibly! The next few years could get very interesting. As always, you’re in charge of your own investment choices. Stay smart out there!
BLOCKCHAIN BATTLES: SURVEILLANCE AND CONTROL — THE CORE POWER OF CBDCs
CBDCs are being pitched as efficient and inclusive by central bankers. But don’t be fooled! The same programmable money features could easily be flipped to allow scary levels of surveillance and control over your spending.
A recent example: Programmable stimulus money that can only be spent on certain government-approved stuff. No thanks!
China’s digital yuan already allows authorities to track and control citizen spending above a low level. Is that what we want imported to the U.S. and Europe?
At a recent European banking conference, one CBDC proponent basically said the quiet part out loud — that CBDCs are inevitable so banks better get ready “before the mandates come.” Yikes.
The Trends Journal’s Take: The CBDC train seems to be picking up steam globally. But don’t expect it to arrive without a fight!
Serious privacy and freedom issues need to be addressed. Expect the CBDC debate to be a major theme of the 2024 elections.
Candidates like RFK Jr. and Trump (and hopefully Harris too) need to clearly reject any CBDC that doesn’t preserve the privacy and freedoms of cash. Will they? Probably not. They’re all different heads of the same hydra.
An ideal “digital cash” would empower citizens, not enable Orwellian control. Anything less must be opposed!
What should crypto investors do? Keep educating friends and representatives on the critical differences between a CBDC and decentralized digital currencies like Bitcoin. Support privacy and freedom! The fiat vs. crypto battle is really heating up. Stay engaged and eyes wide open.
The Overall Takeaway for Crypto Investors
2024 is shaping up to be a pivotal year for crypto. The sector’s growing impact means it can no longer be ignored by policymakers and power brokers.
But with attention comes threats as well as opportunities. We think crypto was created to return monetary power to the people but it’s looking more and more like it’s coming true to its name of being a block and a chain.
Stay informed, stay engaged, and don’t be afraid to speak out. The crypto community’s voice matters more than ever. United we stand, divided we fall.
In the meantime, keep stacking responsibly and have some laughs along the way. It’s gonna be a wild ride!
