I am not a fan of Bitcoin: Donald J. Trump

Whenever we talk about Donald J. Trump what might strike first in your mind might be an image; an image of him gnashing his teeths and pointing his finger upwards or maybe simply the word “Yuge”. About 7 months ago Donald Trump sent out a tweet

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….

Keeping our feelings and emotions apart, Donald J. Trump has been one of the most influential business juggernaut and a real-estate guru in America and across the world. Though his tweets usually might not make any sense or manipulate things according to his whims and fancies, we must at least pay heed to what he has to say for he acts as a driving force, after all he is the president of the most powerful nation in the world and this even reminds me of “A fool thinks himself to be wise, but a wise man knows himself to be a fool.”

The most trivial difference that he didn’t understand about bitcoin and the hard cash is, that Untraceable, physical cash is the best tool for facilitating drug trades and unlawful activities, not a public ledger that records the history of every transaction ever made.

Like what happens in every situation there were people who stood in absolute favor of Trump and people who once again started their rampage of calling him a nincompoop.

The people who came out in defence of Trump were of the opinion, that getting hands on unmarked bills is probably much harder than getting your hands on cryptocurrencies like Bitcoin. This stuff is a bubble just like the Dutch tulip trade. Also, mining Bitcoin takes more energy and fossil fuels than mining gold, which is crazy.

The fate of Bitcoin is yet to be determined. It might flourish and bring the revolution that the world has been waiting for or, it might come straight down, destroying everything in its path to ashes.

Raghav Sawhney

Raghav is a significant contributer who uses his knowledge, skills and experience towards development & growth of the organisation in an efficient and effective manner.