Subnostr

Assuming Trump is indicted and the establishment makes a clown show out of it, Trump’s most aggressive anti-establishment, “drain the swamp” move is to publicly go on the record in support of bitcoin.

Some random thoughts:

(1) clearly he would have taken a large bitcoin position before he made this announcement

(2) he’d have a hard time making his bitcoin position about bitcoin and not about himself

(3) he’d cannibalize his real estate holdings and throw geopolitics into chaos, has anyone on his team done the work to understand the implications?

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Discussion

Phundamentals 2y ago

Trump is the antithesis of Bitcoin. He is the highest time preference individual we may have ever seen in our lifetime. He does no favors to plebs. Bitcoin don’t care either way.

That said - he’s usually good at hitting the bulls-eyes of the issues he goes for - and it’s hard to see him coming close here - I do agree that he will have his bags loaded and that might just be enough to tip him right.

BoomTown 2y ago

Agreed. He also HATES to lose. So if the establishment (whatever that means) has him in a position where he feels like he cannot secure himself a good outcome - let alone the outcome he wants - does he go the mutually assured destruction route?

Feels like that play is consistent with his ego. He’d (1) take down those who are trying to take him down and (2) become one of the wealthier players in the “new” economy.

Phundamentals 2y ago

Hard to argue. If anything - Trump does have a genuine network effect that is orthogonal to Bitcoins - it would be interesting as all hell to see what happens.

We’re about a year from Do Kwon trying to use Bitcoin to power his grift. It doesn’t end well for people who aren’t compliant with Bitcoin’s signal.

If Trump does as you suggest - I think he eventually gets rekt for good.

Phundamentals 2y ago

One other thought - could Trump have loaded his Bitcoin bags and go all out convincing his base to pull their cash out of banks?

hh 2y ago

Trump has never understood or supported BTC. He has many other tools to fight back his enemies.

BoomTown 2y ago

There was one quote where he said (paraphrasing), “they better watch out or bitcoin is going to replace the dollar.” That signaled to me that (1) he kinda understood, (2) he was no friend to bitcoin, and (3) feels like he has an “me against them” view on the system