The Next US President And Bitcoin: Friend or Foe?

For many of us, the existence of cryptocurrency is not so new anymore. And, the explosion of additional cryptocurrencies has really just made our lives more fun. However, with so much in the mainstream media about Mt. Gox, BitInstant, and many other situations painted in a negative light; it seems a wise idea to review the stances on Bitcoin and crypto in general for each of the candidates for the US Presidency. Let's see if we can find out if they'll be friend or foe!

For the liberally-minded, Hillary Clinton has continued on par for the course and given different stances to different audiences (a la her e-mail scandal). In her defense (which I don't aim to strengthen or weaken), her views in 2015 were in definite opposition to crypto currency. However, recently she's apparently developed a support of blockchain technology.

In January 2016, news.bitcoin.com reported that Clinton "is pro-regulation, supports bank bailouts, and wants to grow the size and scope of government. She is opposed to the 'sharing economy' and is supporter of a massive Surveillance State." Also in 2015, isidewith.com reported her to be against the US government classifying Bitcoin as a legal currency. That may not surprise many of you; and in true Clinton style... On June 28, 2016 by several accounts Clinton stated she was in support of "public blockchain applications in a wider agenda for technology and innovation". (from cryptocoinsnews.com)

Clinton's support is apparently limited to the things that will increase her own power and what she views as the "benefit of the state". It's not too hard to read between the lines to see she's clearly opposed to crypto currencies and the freedom it allows the typical citizen.

Result: Clinton = Foe

Next, Donald Trump. He's a bit of a wild card isn't he? Well, I guess that's putting it nicely. According to news.bitcoin.com, he's in favor of business and innovation. However, he has no problem with debt and will obviously be comfortable with "usingthe State to further his own agenda" (whatever that may be at the moment). Remember his comments about about trying "to 'close up' parts of the internet in order to stop the rise of Islamic terrorism." So, whatever his flavor of the month is will likely receive his ire.

The satirical Twitter account "Trumpchain" certainly strokes his ego, but Trump himself hasn't offered up his views on Bitcoin or blockchain. Given his propensity for the bombastic, the outlandish, and for doing whatever serves his own agenda it's likely Trump will, at best, only be partially supportive of blockchain technology. This is certainly my own prediction, but I don't see him as becoming a champion of Bitcoin or crypto currency on the whole this late in the game. He'll support the advancement of technology but I think the smart money is on him maintaining the role debt has played in making him very, very wealthy.

Result: Trump = Frienemy

Now, last but not least, Gary Johnson. It's no surprise that the Libertarian candidate is in favor of Bitcoin. Johnson's support is highlighted at isidewith.com as being in support of the government recognizing Bitcoin as a legal currency. Though, he says it should not replace the Dollar.

Johnson's nine years as the Governor of New Mexico are a boon to his bid for the presidency. When he left office in 2003, New Mexico was only one of four states at the time to have a balanced budget (according to new.bitcoin.com). He represents the obvious alternative to two undesireable candidates that lead either of the establishment parties.

Johnson's was the first to accept Bitcoin for his campaign. More importantly, his policy stances are too aligned with the philosophy behind crypto currency to ignore. He will champion currency competition.

Result: Johnson = Friend

Do you agree?