7/28 Republican presidential candidate Trump made many remarks at the Bitcoin 2024 Bitcoin Conference to excite the cryptocurrency community and embrace Bitcoin from a government perspective. ABMedia organizes the key points of the original text and explains Trump’s art of speaking for you.
Table of contents
ToggleAmerica First: China cannot be allowed to succeed
(09:13) "I am here today to address the Bitcoin community, which can be summed up in two words: America First. If we don't do it, China or other countries will. We have to do the best we can. OK, get it right."
"My vision is for America to dominate the future, with the best economy, the highest standard of living, and the safest, most beautiful cities. Our cities are in trouble right now, and we will fix them and work with Democrats to get our cities back and country.”
“If we don’t embrace cryptocurrency and Bitcoin technology, China and other countries will dominate, and we can’t let China dominate. They have made too much progress, we want to succeed, but we don’t want China to succeed, we have to be the most successful country. "
- Note: Although China is currently banning the cryptocurrency industry, Trump did not respond to this. During Trump's recent visit, he emphasized that Bitcoin and cryptocurrency should be made in the United States, and may emphasize Bitcoin miners and cryptocurrency startups. ( Bitcoin surges 66K! Trump interview: Cryptocurrency must be made in the United States and cannot lose to China )
(36:10) “I will cut unnecessary and burdensome regulations and work every day to make America the best place on earth to build a business, including a cryptocurrency business. It will be the best place, you don’t need to go to China, you You don’t need to learn Chinese, I have a little granddaughter who speaks fluent Chinese, would you believe it, it’s an amazing thing, but it’s not easy, but you don’t have to do it.”
The United States will become a major mining country, and then it will involve China
(43:30) "By the end of my term, the United States will have the lowest energy and electricity costs in the world, and we can produce very cheaply because of what's under our feet. We can produce very cheaply, have low energy costs, and the United States You will become the undisputed Bitcoin mining power in the world, and you will not have to move your family to China.”
- Note: From Trump’s constant discussion of China issues, it can be seen that the American public may have a considerable degree of anxiety about the “rise of China.” He phrased it this way even though China has banned cryptocurrency businesses.
Criticizing the Democratic Party’s Cryptocurrency War
(17:53) “Over the last three and a half years, the current administration has waged a war on cryptocurrencies and Bitcoin that is unprecedented. For those who work in the industry, they target your banks, they pinch Cut off your financial services. Does anyone see this? Yes, there are a lot of people raising their hands. They are blocking ordinary Americans from moving money to your exchanges. They are defaming you as a criminal."
- Note: Because the United States has a lot of anti-money laundering-related laws and regulations on the cryptocurrency industry, financial institutions around the world, including Taiwan, will also impose restrictions on financial accounts in the cryptocurrency industry based on money laundering prevention and fraud prevention.
Biden is bad, Jinli Harris is even worse
(20:20) “We’re seeing attacks on cryptocurrencies that are part of a larger pattern being carried out by the same left-wing fascists who use government to fight anyone who threatens their power, and they did this to me Done."
(21:34) “We have a country to run, and the problem is Harris is worse than Joe, she’s a radical left-wing lunatic, defunding the police, all different things. She’s very against crypto, she’s very against it, So I just want you to know that you have to come out and vote."
(22:37) “The Biden administration’s suppression of cryptocurrencies and Bitcoin is wrong, very bad for our country, and really un-American. I believe he is the worst president in American history. Think about it, Millions of people are coming into our country, they're coming in from prisons, they're coming in from mental hospitals, terrorists are coming in."
- Note: Trump is extremely opposed to illegal immigration at the border, and he also adopted a zero-tolerance policy on immigration during his past term.
Trump receives many cryptocurrency donations
(16:11) “We ’ve raised $25 million since the announcement on May 21st, and a lot of that came from Bitcoin, cryptocurrencies, and other really good cryptocurrencies. But you know, we’re very excited about the future of Bitcoin and cryptocurrencies. The level of excitement is completely different from what our opponents are doing. Our opponents are going the hard way, they are going the old-fashioned way and we are going to be in the middle.”
- Note: Trump raised more than 200 million US dollars during this election. In fact, funds from cryptocurrency still account for a minority.
The United States will not sell Bitcoin, it will become a strategic reserve
(44:07) “The US government is one of the largest holders of Bitcoin, does anyone know, how, the US government owns almost 210,000 Bitcoins, or 1% of the total supply in the future. As I planned today In the final part, I declare that if elected, my administration's policy will be that the United States will retain 100% of all Bitcoin currently held or acquired. "The majority of Bitcoin currently held by the U.S. government was obtained through law enforcement actions. "They took it from you and we transformed this country's vast wealth into a permanent national asset that benefits all Americans."
Trump needs to please new entrepreneurs
(47:02) “I will be the pro-innovation and pro-Bitcoin president that America needs and our citizens deserve.”
- Note: Trump specifically mentioned innovation and support for Bitcoin. Judging from the results of the 2020 presidential election, the newly established cities of Silicon Valley, San Francisco, New York, Boston, and Seattle are all vote bases of the Democratic Party. Therefore, it makes sense to start with cryptocurrency innovation.
Will liquidate lawmakers and SEC Chairman Gensler after taking office
(25:26) “I promise the Bitcoin community that the day I’m sworn in, Biden and Harris’ anti-crypto campaign will end. The weaponization of your industry will also end.” “As long as I’m in the White House, Elizabeth Warren, she hates you, she hates everything about you, and I will keep them away from Bitcoin.”
(26:02) "On Day One, I will fire Gary Gensler and appoint a new SEC Chairman"
Note: Democratic Congresswoman Elizabeth Warren is a politician labeled as extremely anti-cryptocurrency and a very annoying pain point in the crypto community. SEC Chairman Gary Gensler has continuously launched enforcement actions against crypto companies such as Coinbase, Ripple, Kraken, and Binance during his term. He also imprisoned SBF, the founder of FTX, during his term.
Presidential Advisory Council on Bitcoin and Cryptocurrency Established
(28:26) “I will immediately establish a Presidential Advisory Council on Bitcoin and Cryptocurrency, and their mission will be to design transparent regulatory guidance that will benefit the entire industry and complete it within 100 days. We will have regulations, But from now on, the rules will be made by those who love your industry, not those who hate your industry, and those who want your industry to prosper, not those who want your industry to decline.”
Stop CBDC planning
(29:08) “Next, I will immediately order the Treasury Department and other federal agencies to cease and desist all necessary steps to push for the creation of a central bank digital currency. There will be absolutely no CBDC while I am President of the United States. . I will always defend my right to self-preservation.”
Note: Although the United States has discussed CBDC, it has always maintained reservations. The Federal Reserve even believes that digital dollars are not necessary . Trump may have stated that CBDC will all have cryptocurrency status.
(31:08) “These people are completely wrong when they say Bitcoin threatens the U.S. dollar. Bitcoin is not a threat to the U.S. dollar. The current actions of the U.S. government really threaten the U.S. dollar. The threat to our financial future does not come from cryptocurrencies, it comes from Washington, D.C., it comes from trillions of dollars of waste, rampant inflation and open borders."
In response to AI, electricity will not be used up
(12:01) "You're going to need a lot of electricity, AI is going to need twice the amount of electricity we have in the entire United States now to dominate, and we're going to get there. We're going to use fossil fuels to generate electricity, we're going to use nuclear energy, we're going to use Do it in an environmentally friendly way, but we're going to create so much power that you're going to say, President, we don't need any more power, we can't stand it."
(14:19) “We need to produce tremendous amounts of power for artificial intelligence and all the things you’re doing, and we’re going to produce it quickly, or we’re not going to be able to compete with China and other countries. So we’re going to produce it quickly.”
- Note: Electricity expenses are always a key condition for Bitcoin PoW (Proof of Work) mining
Trump to the Bitcoin community: You will surpass us
(48:10) “You are the modern Edisons, the Wright Brothers, the Carnegies, and the Henry Fords, and what you do in your lifetimes has the potential to surpass us and inspire generations to come. This will go down in the history of your industry. A big day. You are building America's future with your own intelligence, courage, and commitment. It takes courage that most people don't have. My job is to set you free to do what Americans do best. , that's win, win, win, you're going to win, win, win. With energy and passion and intelligence like we've never seen before, our country can't fail, we're a failed country now, but we won't last much longer. For a long time, our country cannot fail.”
Note: Trump finally used classic American inventors to describe the Bitcoin community, which also fits the encryption community’s imagination of the future. Combine that with the American desire to return to national glory.
