Trump Expresses his Negative Opinion on Crypto Currencies

Joshua Jones Jr. - Fri | July 12, 2019 | 3:30PM

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   President Trump has expressed his dislike for crypto currencies in a recent Twitter rant. Crypto currencies have ballooned in popularity in recent years due to a myriad of reasons. One reason that many have come to liking is the privacy aspect to crypto. It can be looked at or tracked on the blockchain as far as purchases, but people have a greater deal of privacy using crypto or trading that the use of credit/debit cards. Bitcoin, being the first ever crypto currency, is wildly popular as it gives many some security. Crypto coins are held on the blockchain, and people can use it to circumvent censorship, privacy, and investments. President Trump specifically attacked Bitcoin & Facebook's Libra coin saying that it is unregulated and can lead to unlawful behavior. What President Trump left out is that the United States Dollar has been used for a lot of illegal activity, but that doesn't make the dollar evil? So why would it make crypto evil under that same logic? Many of Trump's supporters are fans of crypto like Bitcoin, Ethereum, Litecoin, & others. President Trump exposed his ignorance of crypto currencies saying they are backed by nothing when USDC a crypto coin that is backed by the US Dollar and always worth as much as the dollar - lifetime. This tweet totally backfired on him as crypto currencies all had a positive morning after bringing attention to it. Crypto can make sending people money or paying for things safer, more secure, and progressively faster. One has to ask, does President Trump hold some crypto & he did this on purpose? Or does he legitimately not realize that crypto is the future?

Picture is as of 5:30AM from Crypto Pro App

 

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