Alienzone

If Donald Trump were to win the presidency again, his administration’s stance on cryptocurrency could significantly impact the crypto world, though predicting the exact outcome is speculative. Here are a few potential effects based on past policies and Trump’s views on crypto:
1. Potential for Increased Regulation
• Trump’s Previous Views: In 2019, Trump publicly criticized Bitcoin and other cryptocurrencies, stating they were based on “thin air” and could facilitate illegal activities. If he maintains this view, his administration might push for stricter regulation on cryptocurrencies to curb illicit activities, fraud, and tax evasion .
• Tougher on Crypto Businesses: His return to office could lead to a more stringent regulatory environment for cryptocurrency exchanges, Initial Coin Offerings (ICOs), and Decentralized Finance (DeFi) projects. This might mean more oversight from agencies like the SEC and IRS.
2. Impact on the Crypto Market
• Market Volatility: Historically, markets—including the crypto market—react to major political changes. A Trump victory could cause volatility in crypto prices, at least in the short term, due to uncertainty around future regulations.
• US Dollar Strength: Trump often prioritized policies that strengthened the US dollar. A strong dollar can lead to reduced appeal for Bitcoin and other digital assets, which some investors view as hedges against fiat currency devaluation.
3. Financial System Focus
• Traditional Banking Support: During his previous term, Trump was more aligned with traditional banks and financial institutions, which could lead to policies that protect or favor conventional financial systems over decentralized alternatives like cryptocurrencies.
• Potential CBDC Development: While Trump has been critical of cryptocurrencies, his administration might push for a US Central Bank Digital Currency (CBDC) to compete with China’s digital yuan. A US-backed digital currency would position the government to regulate digital payments more tightly and reduce the role of decentralized crypto assets.
4. Economic Policies and Taxation
• Tax Implications: If Trump’s administration introduces more favorable tax policies for investors, it could indirectly benefit crypto traders by reducing capital gains taxes or simplifying reporting for crypto transactions.
• Inflation and Crypto as Hedge: Trump’s economic policies, especially related to tariffs or deregulation, could cause inflationary pressures. Historically, some investors turn to Bitcoin as a hedge against inflation, which could spur demand for crypto in such an environment.
5. Blockchain Technology
• While Trump may not be supportive of decentralized cryptocurrencies, his administration could recognize the potential of blockchain technology for other uses, such as supply chain management, government transparency, and cybersecurity.
Overall, a Trump presidency could bring mixed impacts to the crypto space—ranging from potential regulatory crackdowns to the acceleration of blockchain technology adoption. The effects would largely depend on how the administration balances innovation with regulation.
#Cryptoforeveryone

Bitcoin Is Suddenly Braced For A Huge Elon Musk And Tesla Earthquake Ahead Of Critical Price ‘Tipping Point
Now, as Elon Musk warns the U.S. is hurtling toward the brink of "bankruptcy," traders are braced for his electric car company Tesla to post its third quarter earnings, potentially revealing why it suddenly moved its near-$800 million worth of bitcoin last week.
We believe that the Tesla wallet movements that we reported on last week were wallet rotations with the bitcoin still owned by Tesla," blockchain sleuths with ArkhamArkham -0.6% Intelligence posted to X, adding: "Tesla moved their entire balance of 11,509 bitcoin ($776.9 million) to new wallets."

Tesla suddenly moving its bitcoin last week, the first time it's moved for around two years, sparked speculation that it was being moved for an over-the-counter sale.

In early 2022, Musk sold off the majority of the $1.5 billion worth of bitcoin he had added to Tesla's balance sheet a year earlier to secure a quarterly profit for the company.

Tesla will post its 2024 third-quarter results after the U.S. market closes on Wednesday, October 23, and may reveal why it moved its bitcoin.

Tesla is the fourth largest corporate holder of bitcoin after bitcoin mining companies Riot and Marathon and Michael Saylor's software company MicroStrategy—which holds $17 billion worth of bitcoin.

This week, Musk surprised the bitcoin and crypto market with an endorsement after recently directing his attention toward criticism of the U.S. spending, repeatedly warning the U.S. is hurtling toward the brink of "bankruptcy."

CryptoCodex: A free, daily newsletter for the crypto-curious

Email address
Sign Up
By signing up, you agree to our Terms of Service, and you acknowledge our Privacy Statement. Forbes is protected by reCAPTCHA, and the Google Privacy Policy and Terms of Service apply.
"I think cryptocurrency is an interesting and probably valuable bulwark against centralized control," Musk said, speaking at a campaign rally for former U.S. president Donald Trump in Pittsburgh when asked by an attendee whether the cryptocurrency XRPXRP 0.0% could be incorporated into the financial system.

"Crypto by its very nature helps with individual freedom," Musk said, adding he wasn't endorsing XRP or any other specific cryptocurrency.

Musk later said he "wasn't actively involved in crypto," dodging a question about whether blockchains, the technology that underpins bitcoin and other cryptocurrencies, could be used in future elections to reduce or eliminate voter fraud.

Sign up now for CryptoCodex—A free, daily newsletter for the crypto-curious

Forbes
Michael Saylor Reveals Shock $100 Trillion MicroStrategy ‘Endgame’ As The Bitcoin Price Suddenly Soars
By Billy Bambrough
bitcoin, bitcoin price, crypto, Elon Musk, Tesla, chart
The bitcoin price has surged back toward its [+]
all-time highs this year, with Tesla and Elon Musk poised to trigger a major bitcoin price move.
Forbes Digital Assets
Meanwhile, bitcoin and crypto traders are closely watching the polls ahead of next month's U.S. presidential election, which could be a bitcoin price "tipping point."

"Take a bird’s eye view of bitcoin, and the world’s most valuable cryptocurrency has been stuck in a holding pattern since March. The question on everyone’s lips is, ‘what will it take to move it?'" Richard Ptardio, cryptocurrency and financial markets analyst, said in emailed comments.

MORE FOR YOU
NSA Tells iPhone And Android Users: Reboot Your Device Now

NYT ‘Connections’ Hints And Answers For October 23 (#500)

UK Prime Minister Responds After Trump Campaign Accuses His Labour Party Of Election Interference

"Bitcoin bulls are looking at next month’s U.S. election as the tipping point. Should Donald Trump be returned to the White House, the promise of a low-regulation administration and the likely removal of Gary Gensler as U.S. Securities and Exchange Commission (SEC) chair could break the resistance required for new all-time highs," Ptardio said.

Trump has enthusiastically embraced bitcoin and crypto this year, backing his family's World Liberty Financial crypto project and selling four non-fungible token (NFTAPENFT -2.1%) collections.

Speaking earlier this year at a bitcoin conference, Trump promised to create a U.S. bitcoin strategic reserve if reelected and predicted the bitcoin price could eventually eclipse gold.

"However, even with Trump in office, bears may be right to sound a note of caution," Ptardio said. "There are signs that bitcoin is no longer the safe haven from the type of geo-political uncertainty that tends to follow him."

Follow me on Twitter.

Billy Bambrough
Follow
I am a journalist with significant... Read More

Editorial Standards
Forbes Accolades

Forbes
Forbes Digital Assets
Russia Launches BRICS Mining Infrastructure Project
Andrey Sergeenkov
Contributor
Andrey Sergeenkov is a freelance crypto journalist
Follow

0
Oct 23, 2024,05:02am EDT
Updated Oct 23, 2024, 05:10am EDT
The BRICS countries, an acronym of the five members Brazil, Russia, India, China, and South Africa, recently expanded to include Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates., recently expanded to include Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates.
BRICS countries are set to expand their mining and [+]
AI computing capacity through BitRiver and Russian state fund partnership
AFP via Getty Images
Russia's largest data center operator BitRiver has partnered with the Russian Direct Investment Fund to build mining and AI computing facilities across BRICS nations. The companies announced their plans at the BRICS Business Forum in Moscow on October 18, 2024 according to an announcement on BitRiver website.

The partnership aims to expand Russia's share in the global computing market through construction of high-performance data centers equipped for cryptocurrency mining and artificial intelligence workloads.

BRICS is an economic alliance of Brazil, Russia, India, China, and South Africa, representing over 40% of the global population and a quarter of global GDP. In 2024, the bloc expanded to include Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE.

"We will focus on creating a mining-based infrastructure - building data centers and connecting them to necessary power sources to enable AI project deployment and development across the country," said BitRiver CEO Igor Runets according to the announcement.

BitRiver currently operates 21 data centers in Russia with 10 more under construction. The RDIF, Russia's sovereign wealth fund established in 2011, has invested over 2.2 trillion rubles ($22.7 billion) across more than 100 projects.

The companies cite a global shortage of energy-intensive data center capacity as a key driver for expansion. The initiative aligns with Russia's push to strengthen its position as the world's second-largest crypto mining market after the United States.

"Mining is not just a foundation for digital economy. As Russia catches up with the United States in mining, it means our country cannot be ignored," said Runets. "This brings economic growth, settlement liquidity with our partners and creates skilled jobs nationwide."

"Computing power development for AI implementation remains a priority for Russia and BRICS partners," said RDIF CEO Kirill Dmitriev according to the announcement. "Joint use of high-tech infrastructure will let members reduce costs, cut foreign technology dependence and control critical data."

Russian Mining Regulatory Environment
The expansion follows Russia's August 2024 mining regulation law, which established a legal framework for industrial mining operations. The law requires miners and data center operators to register in a government database, report operations and comply with regional energy consumption limits.

BitRiver's website details the mining laws that created two regulatory frameworks. The first governs experimental legal regimes for crypto companies in Russia. The second regulates mining and cryptocurrency operations nationwide. The Bank of Russia oversees these regimes in coordination with the Ministry of Finance, Federal Security Service and Financial Monitoring Service.

The law requires commercial miners and data center operators to register in a government database, report operations and comply with regional energy consumption limits. Individual miners can operate without registration if their energy consumption stays below government-set limits. The government can restrict mining in energy-deficient regions and adjust power supply conditions for previously connected mining operations.

The legislation also set guidelines for foreign partnerships and cross-border operations, allowing Russian-mined cryptocurrency for international settlements. The legislation prohibits mining companies from combining operations with power transmission, dispatch control or electricity generation businesses. Pool operators and data center providers must identify their clients and report suspicious transactions to authorities, with the Federal Tax Service, Financial Monitoring Service and Federal Security Service overseeing all operations.

Broader Implications
The data center expansion aligns with BRICS members' strategy to build sovereign technology infrastructure. BRICS countries are actively developing alternative systems to reduce reliance on Western providers while maintaining control over critical computing resources and data. According to an article by Nathan Lewis for Forbes, Russian banks have already started developing independent infrastructure, with Sberbank launching digital asset projects in late 2022.

"We believe that creating an independent BRICS payment system is an important goal for the future, which would be based on state-of-the-art tools such as digital technologies and blockchain," Kremlin aide Yury Ushakov told Russia's Tass news agency on March 5, 2024.

What It Means For Bitcoin
"To us, the expansion of crypto mining by these heavyweights signals bitcoin's ever-growing global adoption. This opens new opportunities for liquidity and financial inclusion in BRICS regions," Ryan Chow, CEO of Solv, said in an email statement.

According to blockchain.com data, Bitcoin network's total hash rate reached 723.63M TH/s in October 2024, up from 450M TH/s year-over-year, marking a 55% increase. Daily mining revenue stabilized at around $30.78B, while network difficulty hit 93.02T, rising from 62T last November, showing massive deployment of new-generation mining hardware from large-scale institutional entry and growing competition.

MORE FOR YOU
NSA Tells iPhone And Android Users: Reboot Your Device Now
NYT ‘Connections’ Hints And Answers For October 23 (#500)
UK Prime Minister Responds After Trump Campaign Accuses His Labour Party Of Election Interference
The parallel growth in Bitcoin network power and difficulty, alongside stable mining revenue, signals major institutional expansion and increasing competition in mining.
The parallel growth in Bitcoin network power and [+]
difficulty, alongside stable mining revenue, signals major institutional expansion and increasing competition in mining.
Andrey Sergeenkov
"As more infrastructure is established, it has the potential to bring a wave of new participants into the Bitcoin ecosystem, potentially driving greater engagement with Bitcoin finance and the broader blockchain ecosystems," Chow concluded.

Turning $100 into $1,000 on Binance is ambitious and involves high risk. Here are some methods to consider:
1. Day Trading
Description: Buy and sell cryptocurrencies based on short-term price movements.
Strategy:
Identify volatile coins with high trading volumes.
Use technical analysis (charts, indicators) to make informed decisions.
Set clear entry and exit points.
Tools: Use Binance's charting tools and features like limit orders.
2. Scalping
Description: Make numerous small trades to profit from minor price fluctuations.
Strategy:
Focus on liquid markets to enter and exit quickly.
Use short time frames (1-5 minutes) for trades.
Aim for small profits per trade, accumulating over many trades.
Tools: Binance offers various order types; use market orders for speed.
3. Leveraged Trading (Margin Trading)
Description: Trade with borrowed funds to amplify your potential gains (and losses).
Strategy:
Use Binance’s margin trading feature.
Start with a small leverage ratio (e.g., 2x or 3x) to minimize risks while learning.
Monitor positions closely to avoid liquidation.
Tools: Utilize Binance's margin trading interface.
4. Options and Futures Trading
Description: Trade derivatives for potential high returns.
Strategy:
Use Binance Futures to speculate on price movements with leverage.
Consider strategies like buying call or put options based on market direction.
Use stop-loss orders to manage risk.
Tools: Leverage Binance Futures for access to a wide range of contracts.
5. Crypto Arbitrage
Description: Buy cryptocurrencies on one exchange and sell them on another for a profit.
Strategy:
Monitor price discrepancies between Binance and other exchanges.
Act quickly to exploit differences before they close.
Tools: Use price tracking tools to find arbitrage opportunities.
6. Invest in High-Potential Altcoins
Description: Research and invest in lesser-known cryptocurrencies with high growth potential.
Strategy:
Look for coins with solid fundamentals and active communities.
Follow market trends and news to anticipate movements.
Tools: Use Binance's research resources and community forums.
7. Staking and Yield Farming
Description: Earn rewards on your holdings by participating in staking or liquidity pools.
Strategy:
Stake tokens that offer high returns.
Participate in liquidity pools for additional rewards.
Tools: Binance Earn provides various staking and yield options.
Important Considerations
Research: Stay informed about market trends, news, and developments in the crypto space.
Volatility: Understand that the crypto market is highly volatile. Prices can swing dramatically in short periods.
Continuous Learning: Adapt strategies based on what works and what doesn’t.
While it's possible to achieve significant returns, it’s crucial to approach these methods with a strategy and continuous evaluation.
#Write2Earn!

The Impact of the Upcoming American Election on the Crypto World
As the American election approaches, its implications for the cryptocurrency market are becoming increasingly significant. The intersection of politics and crypto has always been a complex one, but this election cycle may bring both opportunities and challenges for the industry. Here’s a closer look at how the election could potentially benefit or hinder the crypto world.
Potential Benefits for the Crypto Market
1. Increased Regulatory Clarity: One of the most pressing issues for the cryptocurrency industry has been regulatory uncertainty. A new administration, particularly one that is more crypto-friendly, could lead to clearer guidelines and regulations. This could encourage institutional investment and foster innovation in the sector.
2. Pro-Crypto Candidates: Several candidates have expressed support for cryptocurrencies and blockchain technology. If these candidates gain power, they could push for policies that promote the adoption of digital currencies, potentially leading to increased market confidence and investment.
3. Economic Stimulus: In times of economic uncertainty, governments often look for innovative solutions to stimulate growth. The promotion of blockchain technology and digital currencies could be seen as a way to modernize financial systems, attracting investments in related technologies and services.
4. Public Interest and Adoption: An election often increases public engagement in politics, which can translate into greater awareness and interest in cryptocurrency. A surge in public discourse around crypto, spurred by political campaigns, can lead to increased adoption among the general population.
Potential Challenges for the Crypto Market
1. Regulatory Crackdowns: Conversely, if candidates with a more skeptical view of cryptocurrencies gain power, the market could face increased scrutiny and potential regulatory crackdowns. This could stifle innovation and lead to a loss of investor confidence.
2. Market Volatility: Elections can create uncertainty and volatility in financial markets. Depending on the outcome, crypto markets may experience significant fluctuations as investors react to the new political landscape and its implications for regulation and economic policy.
3. Geopolitical Tensions: The global nature of cryptocurrency means that American elections can have international ramifications. Increased geopolitical tensions or protectionist policies could affect cross-border transactions and the overall stability of the crypto market.
4. Taxation Policies: New tax policies regarding cryptocurrencies could impact investment behavior. If candidates propose higher taxes on crypto gains or stricter reporting requirements, it might discourage some investors from entering the market.
Conclusion
The upcoming American election presents both opportunities and challenges for the cryptocurrency world. Increased regulatory clarity and potential pro-crypto policies could foster growth and adoption. However, the possibility of heightened scrutiny and market volatility cannot be overlooked. As the political landscape evolves, stakeholders in the crypto industry must stay informed and adaptable to navigate these changes effectively. Ultimately, the impact of the election on the crypto market will depend on the policies implemented and the broader economic context that follows.
$BTC #Write2Earn!