Akiba
@akiba
I was impartial in writing this article but here’s my personal take: - Trump will launch a stablecoin called American Coin (AUSD), Trump Dolllars (DJTUSD), or Real USD (rUSD) - SEC will sue and Trump will rally DeFi behind him - Trump Dollars won’t have public attestations or audits. Will have static webpage self certifying collateral. - Will be backed by Bitcoin in some form - Will be programmable using upgradeable smart contracts and blocklists. - Will see rapid mcap growth from outside the US - Will maybe use some form of ZK tech to make minting of new coins hard to trace. Trump will then fund his lifestyle by printing Trump coin and make DeFi toxic in the US as a culture war breaks out with Trump on the side of crypto. Read: https://cryptoslate.com/trump-famliy-is-planning-crypto-project-to-combat-fed-sparking-stablecoin-rumors/
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Papatoshi Smurfamoto
@papatoshi
Thanks for the work you put into this. I have been quite amazed so far how so many people in this space think crypto policy will be decisive in this election. It shows a detachment from reality. For most Americans, crypto-bros are weirdos (which is on-brand for Trump). Crypto is something your weird cousin obsesses about at family holidays. Most people Americans know who’ve gotten into crypto have, at best, not made a penny.
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Akiba
@akiba
The difference is between crypto and Bitcoin. 14% of Americans own Bitcoin I believe. 90% of them will be in profit. The rest who own broader crypto assets will mostly be under water yes. Your sentiment is however mostly correct I believe and Trump is only going to make that worse if he does this imo. He’ll create the next crypto scam and then everything including bitcoin will be tarnished and it will set us back 5 years.
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