Go Back   Wiki NewForum | Latest Entertainment News > Tech Gadgets Forum


Donald Trump does not consider Cryptocurrency as money; blasts Bitcoin, Facebook Libr


Reply
Views: 994  
Thread Tools Rate Thread
  #1  
Old 07-12-2019, 10:50 AM
welcomewiki welcomewiki is offline
Member
 
Join Date: Dec 2008
Location: India
Posts: 83,636
Default Donald Trump does not consider Cryptocurrency as money; blasts Bitcoin, Facebook Libr

United States President Donald Trump just took to Twitter to share his thoughts on cryptocurrency. Trump clearly stated that he did not consider the different type of cryptocurrencies as actual money. He also went on to criticize Bitcoin and Facebook-backed Libra among other cryptocurrencies. Trump also issued a warning to all the companies that are trying to become banks by offering their cryptocurrency. According to him, these companies will be subject to the US and global banking regulations. Trump added, that he was not really a fan of cryptocurrencies.

Why*Donald Trump does not like Cryptocurrency?

President of the United States of America also explained the reason why he was not a fan of the digital currencies. He stated that the value of cryptocurrencies is “highly volatile and based on thin air”. The tweets added that all the companies who want to become a bank “must seek a new Banking Charter”. These tweets come about a month after Facebook revealed its plans about launching Libra through its separate arm called Calibra. As previously reported, Facebook and currently teamed up with 28 other partners to launch Libra. Some of the partners that are part of the Libra association include Mastercard, PayPal, and Uber.
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….

— Donald J. Trump (@realDonaldTrump) July 12, 2019

The interesting thing to note here is that technology companies are not the only one dabbling in cryptocurrencies. Past reports also indicated that JPMorgan Chase and Company, the largest bank in the USA was also planning to jump in. Some rumors have been floating around indicating that JPMorgan Chase and Co may launch its cryptocurrency. These tweets come just a day after a statement from Jerome Powell, the Chairman for Federal Reserve. According to Reuters, Powell stated that Libra won’t move forward till Facebook has addressed some key issues.



Facebook needs to find fixes to issues including privacy, consumer protection, financial stability, and money laundering. If it does not focus on combating these issues, Libra won’t really become a reality. Powell revealed that the Federal Reserve was working on forming a group to follow Libra. This group will also coordinate with the Central Banks from other countries. Facebook has not issued a response to the series of Tweets of the statement by Powell.


Reply With Quote
  #2  
Old 05-23-2022, 04:17 PM
BibiKong's Avatar
BibiKong BibiKong is offline
Junior Member
 
Join Date: Apr 2022
Location: Alaska
Posts: 8
There is no doubt in anyone's mind that the role of cryptocurrency will continue to grow. It remains to be seen which trends will be popular in the future. The article What are the top staking trends to watch for in 2022 https://coincheckup.com/blog/what-ar...h-for-in-2022/ provides some answers. I recommend reading this information to increase your income in cryptocurrency.
Reply With Quote
  #3  
Old 08-01-2022, 03:38 PM
oliversbrookss oliversbrookss is offline
Junior Member
 
Join Date: Apr 2022
Posts: 1
Many individuals attempt to replicate the strategy of a seasoned trader despite the inherent difficulties. Because of the market's volatility, it's not a good idea to copy a plan. Copy trading bots (crypto copy trading )make it feasible to make money without prior expertise or training. The employment of copy-trading bots has several advantages. Stop-loss orders may also be used to control risk automatically.
Reply With Quote
  #4  
Old 08-03-2022, 08:34 AM
DanCaldwell DanCaldwell is offline
Junior Member
 
Join Date: Aug 2022
Posts: 1
Donald Trump I would advise to communicate more with younger generation especially traders and cryptocurrency millionaires to understand how industry works) Yes many people mistakenly think that now they will start trading and become rich or buy bot bitqs and also get rich, but no it does not work so sadly. This is a long term road and patience and improvement of your s****s is important here.
Reply With Quote
Reply

Latest News in Tech Gadgets Forum


Thread Tools
Rate This Thread
Rate This Thread:



Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2022, vBulletin Solutions, Inc.