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Bitcoin will have a bright future

Bitcoin will have a bright future 2

The Donald J. Trump is not a great Bitcoin friend, we know it already since last week. In a tweet, Trump commented on the current monetary clash with China, pointing out that there was only one strong currency, namely the US dollar. One of his former chief strategists and longtime companions, Steve Bannon, however, believes that cryptocurrencies like Bitcoin have a great future.

The former chief strategist, Trumps, believes in the potential of cryptocurrencies

In a recent interview with CNBC Squawk Box, the controversial right said it has a promising future for Bitcoin. When asked if he was himself a "Bitcoin Bannon" who was buying at a low price, he only stated that he had neither the courage nor the confidence of 39, buy at that time. In the following, you find his quote in the original:

I think crypto-currencies have a great future. I think that they could be a particularly important part of this global populist revolt.

In the opinion of many political think tanks, populism is a phenomenon through which "ordinary citizens" of a democracy can express their personal interest. Bitcoin, which became "known" as a result of the 2008 financial crisis, has long been established and established as an independent currency. It reveals here features that populists probably like – because they are directed against "the established system".

The fascination therefore lies in the fact that many individuals or groups of individuals come together to "produce fresh Bitcoin", confirm transactions and keep the entire history of these transactions in a public book that can not be manipulated.

Bannon, which has been part of the so-called "Bitcoin revolution" for a long time, has repeatedly claimed that he loved crypto-currencies. In his opinion, Bitcoin can even be part of the "populist revolution" (see the end of the video),

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Is everything just a question of perspective?

All of these statements were made by Bannon at a time when Trump announced new $ 300 billion additional taxes on imports from China. ("Taxing the brilliance of China")The video presented above is only part of the conversation. It has therefore slipped into other thematic areas. Another topic was, for example, Facebook's cryptocurrency, Libra. Bannon sees himself as an enthusiast of the cryptocurrency and advocates it; Libra is therefore the answer to Chinese WeChat and therefore the ideal counterweight. This has also allowed Libra to stimulate the online use of the dollar worldwide – an idea that would surely seduce not only Bannon, but also his former boss.

Specifically, Bannon stated:

They must go to the same place.

Harsh debates over the treatment of Bitcoin, Libra and Co.

As we have discussed extensively in recent weeks, there is a bipartisan image of Facebook's Balance. While people like Bannon see Bitcoin as a viable solution, other key "players" in the US government, such as Treasury Secretary Steve Mnuchin, see crypto-currencies as a "national security issue." Jerome Powell, president of the FED, also has big concerns about Libra. The majority (as the current impression) sees Libra in the concrete as a danger, but is even more restricted with regard to the final valuation of cryptocurrencies.

For example, US Senator Mike Crapo said the following a few days ago:

I was convinced that we could not succeed if the United States did it and they were not crying by doing that because it is a global technology, a global innovation.

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Bitcoin will have a bright future 4

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