A few days ago, former US President Trump publicly expressed his support for Bitcoin and cryptocurrency in his campaign speech, which attracted a lot of attention. In this half-minute video, we saw Mr. Trump - but Juzuo prefers to call him Comrade Chuan Jianguo's proposition:
1. Ensure that the future of Bitcoin and cryptocurrency happens in the United States rather than overseas.
2. Support the development of self-hosted wallets.
3. Keep Warren and his henchmen away from your Bitcoin.
4. The United States will not be allowed to establish a central bank digital currency.
After reading this, many people understood that Comrade Chuan Jianguo was supporting the development of cryptocurrency, but they were still confused about what was going on.
Next, I will briefly analyze the logic behind these four propositions. If you are not good enough, just read it. You are also welcome to participate in the discussion in the comment area. The following are just some suggestions to stimulate discussion:
1. Ensure that the future of cryptocurrency and Bitcoin happens in the United States rather than overseas.
This statement shows that Comrade Trump understands the logic of cryptocurrency. And he understands that the concept of cryptocurrency is greater than Bitcoin. As he often said before, no one knows cryptocurrency better than him. As a presidential candidate, he does know more than others.
The fact that it happened in the United States rather than overseas shows that the United States still hopes to dominate the cryptocurrency battlefield, which is absolutely fine for a presidential candidate.
The most important thing is that Trump claims that there are more than 50 million cryptocurrency holders in the United States. You have to know that the total population of the United States is only 330 million, which means that on average one in six people holds cryptocurrency. If these people vote for Trump, then this group of people can almost push him to the presidency again.
2. Support the development of self-hosted wallets.
Here comes a professional term - self-hosted wallet. Maybe many people are a little confused, but the subtitles also give a very considerate explanation - web3 wallet.
But if we want to be more specific, it is: wallet.
For example, metamask, imtoken, etc., of course, also includes a series of wallets including OKX wallet, Binance web3 wallet, etc.
Because you are the only one responsible for your assets here, it is equivalent to keeping your assets yourself instead of handing them over to a third party, so it is also called a self-custodial wallet.
I can only say that Trump’s campaign team really understands web3 and the needs of the people.
They understand that in the cryptocurrency ecosystem, wallets and exchanges are two completely different ecosystems, and both are traffic entrances for cryptocurrencies, but one is centralized and the other is decentralized.
In the current environment, the political significance of supporting self-hosted wallets far outweighs its practical significance.
The code here is: I support your right to keep custody of your own assets.
Damn, this is a brain-shaking orgasm for Americans who pursue freedom.
3. Keep Warren and his henchmen away from your Bitcoin.
This sentence is very interesting. As soon as it was said, the audience cheered.
Because this sentence is not only for the holders, but also for the practitioners.
Warren, whose full name is Elizabeth Warren, is described by the media as Biden's agent, and she is an out-and-out anti-cryptocurrency person.
On the opposite side of the fence is Trump, who not only supports cryptocurrencies, but also accepts donations from cryptocurrencies. The two are like water and fire.
Trump also said frankly that if he were elected, he would definitely keep Warren and his thugs away from your Bitcoin.
On the one hand, for ordinary investors, a president who supports cryptocurrency will definitely be beneficial to the new highs in the market value of cryptocurrency and Bitcoin, while opponents will suppress this emerging market.
On the other hand, it is about the thugs. Although Trump did not specify who these thugs were, it is clear that in the United States, the only agencies that can impose sanctions on cryptocurrencies, besides the Department of Justice, is the SEC.
In Warren's past remarks, she has always been urging the SEC to take action on cryptocurrencies as a superior - even on Tesla.
Musk responded by saying that this was probably said by SBF’s father.
Interestingly, in 2022, Warren advocated handing over the power to the SEC, but unexpectedly, the SEC later passed related bills such as the Bitcoin ETF, which stabbed Warren in the back.
So what Trump meant was that if he succeeds in taking office, he will not only support the development of cryptocurrencies, but will also limit the crackdown on cryptocurrencies by the SEC and other departments. This is why there was a cheer from the audience after he said this.
4. The central bank will not be allowed to issue digital currency, which again reflects the differences between China and the United States.
This is very interesting because China's digital RMB has already entered the practical stage, while the United States has restricted the central bank itself from being the issuer of currency.
Due to his own strength issues, Ju Zuo is not able to participate in matters of this level, so he can only make bold guesses.
The central bank that Trump mentioned is actually the Federal Reserve, which means to limit the Federal Reserve’s power in digital currency.
But I personally think that this slogan is more of a rant, because the amount of fiat currency issued by the Federal Reserve far exceeds the current market value of cryptocurrencies. There is little point in issuing digital currency, and the Federal Reserve will not do such a thing that puts the cart before the horse.
But for Comrade Trump, this is another voice that stands on the side of the people. He made it clear that he is different from Biden and that he will not allow the Federal Reserve to do whatever it wants.
After all, the world has suffered from the Federal Reserve for a long time. Even if this bullet does not cause substantial damage, at least Comrade Chuan Jianguo has fired the first shot in limiting the power of the Federal Reserve.
Let me summarize at last.
Jianguo Chuan is indeed our good comrade. He has set off a liberal wave of cryptocurrency in the capitalist nest, which has made those traditional capitalists pissed off and forced them to change their attitudes.
Trump continued the strategy that successfully brought him to the top last time, but changed the target group from the rednecks in the Rust Belt to the current 50 million cryptocurrency holders. This strategy caters to the trend, meets the needs of the people, and is very socialist.
It can be said that Trump is using the successful experience of socialism to unite the people to overthrow the corrupt system of capitalism that exploits the people. I am personally very optimistic about Trump's campaign this time. In comparison, Biden's propositions are still permeated with the arrogance of the elites in power and the shadow of the chaebol behind them.
As a person in the cryptocurrency circle, I really hope to see Trump successfully re-elected. I also hope that after he calls for Make America Great Again, he can actually make Cyberspace Great Again.
My name is Ju Zuo. I interpret the crypto world from a different perspective and share my thoughts on crypto on WeChat Moments. You can send me a private message to follow my WeChat Moments and travel around the crypto world with me.