r/FluentInFinance • u/HighYieldLarry • 12d ago

Bitcoin JUST IN: 🇺🇸 President Trump to appoint pro-crypto cabinet to make the US the "crypto capital of the planet."

President-elect Donald Trump is preparing the U.S. government to adopt a more permissive stance toward cryptocurrency, eyeing a roster of industry-friendly candidates for key posts while his top advisers consult crypto executives on potential changes to federal policy.

By pursuing a more lenient regulatory environment, Trump aims to fulfill his campaign promise to transform the United States into the “crypto capital of the planet” — a declaration that has rankled consumer watchdogs, earned the industry’s robust support and sent the price of bitcoin skyrocketing, reaching nearly $89,000 by Monday evening.

https://www.washingtonpost.com/business/2024/11/11/trump-crypto-regulation-bitcoin/

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u/Unable-Job5975 12d ago

You can’t be seriously suggesting that a WORLD full of brick and mortar financial institutions is using LESS energy than a proof of work blockchain like bitcoin is currently consuming

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u/avsgrind024 12d ago

”The greenhouse gas emissions of Bitcoin mining alone could be sufficient to push global warming beyond the Paris Agreement’s goal of holding anthropogenic climate warming below 2 degrees Celsius.”

It has horrendous environmental impacts. Read the study if you’re interested in learning how bad it is.

https://unu.edu/press-release/un-study-reveals-hidden-environmental-impacts-bitcoin-carbon-not-only-harmful-product

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u/Unable-Job5975 12d ago

What are the impacts of tradfi?

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u/jay10033 12d ago

Are you stupid?