First public support
At the 2024 Nashville Bitcoin Conference, former U.S. President and 47th Presidential Candidate Donald Trump delivered a highly anticipated speech in which he outlined his grand blueprint and policy designations for the future of cryptocurrency.
During his speech, Trump openly supported cryptocurrencies, saying they would not threaten the US dollar. In addition, he said that in the future billions of people will enter the crypto field and store their funds and Bitcoin.
He listed a series of promises to a crowd of cheering Bitcoin supporters in the audience: "I will fire SEC Chairman Gensler on the first day of my election."
It is reported that Gensler has previously taken a positive attitude towards cryptocurrency regulation.
During his speech, the price of Bitcoin staged a V-shaped reversal, first falling by US$1,200 in the short term and falling below the US$67,000 mark;
At the end of the speech, the price suddenly rose violently, recovering all the losses, and once reached the 69,000 US dollar mark. It is now trading at 68,684 US dollars per coin.
Trump’s stance on Bitcoin and cryptocurrencies has actually undergone a significant shift. He has publicly expressed skepticism about Bitcoin and other cryptocurrencies in the past, arguing that they are not currencies and their values are highly volatile.
However, as time went on, Trump’s attitude seemed to have changed, and he and his business group began to participate in cryptocurrency-related activities and even launched his own NFT project.
Obviously, Trump is gradually deepening his understanding of cryptocurrency technology and beginning to understand that related innovative technologies will have a revolutionary impact on the entire world.
“I say this is what the steel industry was a hundred years ago, and I think Bitcoin is still in its infancy.” These remarks and actions by Trump also show his growing interest and support for the industry;
In addition, Trump's rising approval rating is also closely related to the recovery of the U.S. cryptocurrency market.
The United States is regaining its position as the leader in the cryptocurrency market. At this point, Trump publicly announced his support for Bitcoin, which is a win-win situation for both his campaign and the development of cryptocurrency.
What is Bitcoin
Bitcoin is a decentralized digital currency based on blockchain technology. It does not rely on any national bank or central agency for issuance and trading, but is verified and traded through peer-to-peer network technology between users.
In just 15 years, Bitcoin went from being just an idea posted anonymously on an internet message board to being the ninth most valuable asset in the world.
Bitcoin’s market cap is already larger than ExxonMobil, and soon it will surpass the entire silver market cap, and one day it may surpass gold, which is very likely to happen based on current conditions.
It would not be an exaggeration to say that Bitcoin is the future.
Bitcoin’s empowerment of the gaming industry is a major technological changeHere are some of the main aspects:
1. Transaction speed and cost:Bitcoin transactions are usually faster than traditional financial systems (such as bank transfers), and can be processed within a few minutes. In addition, Bitcoin transaction fees are relatively low, especially when large transactions are involved.
2. Privacy protection:The anonymity of Bitcoin transactions provides users with greater privacy protection. Although transaction records are public, the user's identity cannot be easily directly linked to a specific Bitcoin address.
3. Global Access:Bitcoin has no geographical restrictions and is globally accessible, allowing users to trade around the world. This enables online gambling platforms to reach a wider user base, especially in certain countries or regions where traditional financial services may be restricted or heavily regulated.
4. Decentralization:The decentralized nature enables gambling platforms to reduce their reliance on intermediaries, thereby reducing operating costs and risks.
The foundation of Bitcoin is blockchain technology, and the horizontal development of blockchain technology can also bring many benefits to the gambling platform;
1. For example, using blockchain technology to record and verify game results to ensure the transparency and fairness of the game. This can increase players' trust in the platform.
Because the immutability of blockchain technology can reduce transaction fraud and improper operations, it can ensure the authenticity and integrity of transaction records.
2. Gambling platforms can also use smart contract technology to automate and make the betting process transparent. Smart contracts can ensure that all bets and results are automatically executed according to preset rules, thereby reducing human intervention and fraud risks.
Conclusion
However, although the development of cryptocurrency is rapid, it is still in its early stages. There are still some challenges and risks that need to be noted:
1. Bitcoin price fluctuations: drastic fluctuations in Bitcoin prices may affect the financial stability of gambling platforms and users.
2. Changes in the policy environment: Different countries have different legal and regulatory requirements for cryptocurrencies and online gambling. Gambling platforms need to ensure compliance operations.
PASA (www.pasa365.com) believes that Trump’s public support for Bitcoin this time will inevitably have a positive impact on the development of Bitcoin. Gambling companies need to seize this opportunity and proactively embrace related technologies; once Once caught up in the wind, pigs can also fly.
We look forward to discussing more unique insights about cryptocurrency and the gambling industry with all readers, and sincerely invite you to pay attention to PASA, the global get-rich-quick industry overseas information platform, to obtain more get-rich-quick industry information.Welcome to subscribe to PASA official channel: https://t.me/pasaqqzxzz
