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Hi there everyone, TheRingMaster is back again and let me just ask this; Are you feeling bullish knowing that Donald Trump is assuredly going to become president of America?
- The reason I ask this question is because although Donald Trump is usually more focused on making the dollar the strongest currency, I believe he now sees the value of crypto and how most people are embracing it.
I remember making a blog about a week ago when I mentioned Trump's promises on making crypto great in America and a couple of my readers responded with; its basically empty promises to entice the crypto community. It may just be a political stunt however I still do believe he wouldn't go hard on crypto as much as soon to be former president Joe Biden would.
Regardless of whether Democrats win or not the next president is not going to be Biden.
Joe Biden is officially stepping down has endorsed Kamala Harris as the presidential nominee for the Democrats.
First and foremost, not that many people know Kamala Harris too well and believe it or not I had to tell someone that Kamala Harris was a woman and when I saw the expression on his face, I instantly knew he didn't have the slightest clue that she was a woman and was vice president by Joe Biden in the entire almost four years of his reign.
That's how much people don't know her. Well it's not an issue because those that don't know her are not exactly Americans so it might not directly affect votes.
However Donald Trump has gained the trust of way too many people to not win especially after the attempted Assassination on him.
Joe Biden's image has been tarnished and the proof is in all the polls. People think and believe he's not well, competent and fit to be president so they would certainly make Trump president. The Democrats knew the best thing would be to replace Biden with someone else and it could be Harris but this is what people think of Harris;
The Trump campaign is actually excited to run against Harris because they know they would completely dominate her and it would be worse than what's happening with Joe Biden. People don't exactly have positive opinions and comments about Kamala Harris.
If Or Perhaps When Trump Wins
Very recently, in one of his rallies, Donald Trump made some pretty big promises that may alter the course of cryptocurrency and blockchain technologies making it more successful than it has ever been in not just America but the world because a successful adoption in America would mean more people around the world would start to adopt it.
Now, should he win a second term as president, these blueprints might just trigger a bull run for crypto and other platforms based on blockchain which you guessed it, includes Web 3.0 so therefore Hive.
There are quite a number of reasons why I believe this would happen and it's based on his pledge or promises.
The Promise speech
- Strong Support for Crypto
In his speech, Trump expressed very strong support for crypto users and the entire community. He vowed to put an end to Biden’s attempts to regulate and curtail cryptocurrencies. Some may not believe in what he's saying but like I said, he's not going to put as many restrictions on crypto as Biden would. This would mean less regulations and more liberty for those who use digital currencies like Bitcoin and all other altcoins.
Less regulations can lead to more growth and innovation in the marketplace. I hope to see the Hive community flourish after this.
- Self-Custody Rights
He also pledged to protect the right of self-custody among 50 million holders of cryptocurrency in the country. Yep that's the number guys, over 50 million holders just in the United States. This goes to show how far crypto has gone already.
So with this happening, people will be allowed to hold their own crypto without being afraid that new laws will take away this ability from them. Such a level of security could attract many people into investing in cryptocurrency again. We could see a rise in the Stablcoins.
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- Not Central Bank Digital Currency (CBDC)
Trump said that he would never allow a central bank digital currency (CBDC) to be created. And this is a pretty big deal because the central bank's agenda with this is to do as their name suggests; centralize crypto. They seek a way to maintain power even if crypto dominates the currency market.
Many in the crypto community believe that a CBDC could manipulate and limit the use of other cryptocurrencies. Trump is showing his full support for a free and open crypto market by refusing to back CBDC. This is a very positive thing if or when it happens.
- Crypto Innovation within America
Trump has also assured that America will steer cryptocurrency and Bitcoin’s future rather than letting it go offshore. This is actually my favorite part because if America decides to make crypto successful, it would mean they're going to avoid doing the things that limits it so they can see the progress they want.
I really believe that this move they're going to make would lead to more crypto businesses staying and growing in the USA. That also means more jobs will be created, more innovation will happen, and the crypto market will become stronger. Let's get ready to have more newbies in Web 3.0 communities I guess.
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- Economy Boosting
On top of the promises he made, Trump also talked about cutting off income tax and slashing regulations which may result into an overall stronger economy. The unfortunate thing is that if he cuts off the income tax, it might be compensated for by raising the tariff tax which is the tax America or any country puts on foreign goods imported into the country.
We know America has a good number of its commodities being foreign goods. That would raise the price of these commodities in America. It's going to be a pretty big downside to this no income tax promise.
However I think, whenever people have extra money and businesses have fewer rules, there are usually increased investments in emerging technologies such as blockchain technology. Strong economies can give room for a growing crypto market. Everything has a good and bad side right, I just hope they are prepared for the downside this brings.
- The battle against Inflation
The talk on inflation really heated up the presidential debate that recently occurred between Donald Trump and Joe Biden. Donald Trump blamed Joe for making worse the inflation situation in America and Joe Biden counted that accusation by saying that Trump already left the country with an inflation problem before he became president 4 years ago.
However, Trump promised to put an end to his so-called “Biden’s inflation tax.” He said Biden is printing trillions and this leads to inflation. High inflation can harm the dollar value and you know Trump is really big on the dollar, but it can make alternative forms of money and assets such as digital currencies more attractive. Trump could increase the allure of crypto by fighting inflation.
Personally I think the slightest change in favor of crypto will be great for the crypto community.
There were a couple few things he talked about directly and indirectly related to crypto advancing. As he moves to become president, Donald Trump’s promises might cause a massive surge in the worth and acceptance of crypto and other blockchain-based platforms. For me it's actually about the chance it gives Hive to become a bigger success.
Knowing that we are pretty much approaching an era where we might see the biggest unemployment situation due to the rise of AI and Robots to replace human workers, we certainly need other earning opportunities and Web 3.0 creates a plethora of these opportunities.
I'm hoping Hive and other Web 3.0 platforms become successful and create newer opportunities for people in the near and inevitable future of the robots.
Thanks for reading friends, I would love to get your feedback on this blog topic.
Do you believe Trump is truly for cryptocurrency or is it just a stunt to attract more voters.
Will Trump win? - That's Rhetorical.
Let's Make Web 3.0 Great ✊🇺🇲
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