(ConservativeSense.com) – Donald Trump has said that if he becomes President again, there will be a significant boost in Bitcoin mining in the US. In a bold and ambitious statement, the Republican suggested that in the future, all of the world’s mining would take place in America.
Bitcoin is a decentralized digital currency aimed at sidestepping mainstream banking with a ledger known as a blockchain. Mining allows people to obtain Bitcoins without expenditure and involves solving a complex mathematical problem on a committed website and winning Bitcoins as rewards.
The former President’s view of digital currency, or cryptocurrency, has changed, and commentators suggest he seeks to win support from the younger generation of avid internet users. Mr. Trump met with Bitcoin miners at his Mar-a-Lago estate in June and afterward posted to his Truth Social media account that cryptocurrency users should vote for him because President Biden “hates” it.
One miner who met with Mr. Trump said he was “genuinely interested” in learning about digital currency and how it could boost the US economy. David Bailey, CEO of Bitcoin company Btc Inc., said his organization is committed to helping Trump regain the Oval Office by “turning out more than 5,000,000 voters for the Trump reelection effort.”
The former President stated that the decentralized currency could be the last line of defense against a Central Bank Digital Currency (CBDC). In May, the House of Representatives passed a bill preventing the creation of a CBDC, saying it would allow the government to control and oversee individual and household spending in the US.
Rep. Dusty Johnson of South Dakota supported the bill and said the Canadian government exposed the dangers of CBDC during the coronavirus pandemic. Canadian Prime Minister Justin Trudeau used emergency powers to close bank accounts and seize funds raised by protesting groups of truckers who objected to his coronavirus policy proposals. Republicans say a CBDC will make it easier for leaders to control citizens’ private finances.
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