Bitcoin Trump
Wartime Bitcoin Becomes Political Wartime Bitcoin
In 2022, after the Freedom Convoy, I was invited to be a speaker and panelist at Bitcoin Miami '22. I participated in a panel called Wartime Bitcoin alongside Luke Rudkowski, Alex Svetski, and Giacomo. Much has changed in just two years.
I was invited because of the key role Bitcoin played during the Freedom Convoy, being the only donation money raised from around the world that got into the hands of truckers. I was also the only Bitcoin advocate involved in the trucker convoy as the spokesperson, dealing with significant hostility from other convoy organizers who described Bitcoin as "only for criminal activity" or "video game money" despite having absolutely no knowledge of what Bitcoin was and how it functions. Much of this you may have heard me discuss in regular podcasts, interviews, or recently on my regular segments on the Marc Patrone Radio Show on SaugaAM960. (http://sauga960am.ca).
This week is unique. It's been nine years since I was a Conservative Party candidate for federal office in Canada. Back then, any mention of an interest in or holding Bitcoin would have resulted in automatic disqualification. Yet, a significant change is occurring now in the financial world, overlapping with freedom-minded individuals.
A year ago at Bitcoin Miami, Robert F. Kennedy Jr. was on stage explaining how he witnessed the Trudeau government's response to the Canadian truckers and saw that Bitcoin was the only money the government could not block. He realized the importance of having money outside the system and outside of government control. Yesterday, he reaffirmed that commitment and also announced candidacy policies, including a commitment to a Bitcoin strategic reserve and a plan to buy 550 Bitcoin per day to achieve 4,000,000 Bitcoin in reserves. Note that 550 Bitcoin per day is 100 Bitcoin more than the total Bitcoin mined around the world each day. A follow-up on the details of this policy would be helpful, and I plan to follow up with Mr. Kennedy.
This week, only two weeks after the failed assassination attempt on President Trump, the former President and Republican candidate has joined Robert F. Kennedy Jr. in advocating for Bitcoin at the conference in Nashville, Tennessee. Both have given keynote speeches along with Republican Senator Cynthia Lummis of Wyoming, a former state treasurer.
The favoured candidate for president, Donald Trump, has announced plans to convert 210,000 Bitcoin, currently worth $14 billion USD at today's exchange rate. Cynthia Lummis has also presented the Bitcoin Strategic Reserve bill to grow the 210,000 Bitcoin reserve to 1 million Bitcoin.The policies are as follows:
Policy #24 Finance: "Prohibition of Central Bank Digital Currencies (CBDCs)"
Policy Proposal: The New Blue supports legislation that will make Central Bank Digital Currencies (CBDCs) unlawful in the province of Ontario and support. Bitcoin as its decentralized nature serves as an effective hedge against
Why this policy proposal should be an official policy supported by the New Blue Party:
Donald Trump supports and said this same thing!
How this policy proposal will improve Ontario:
Alternative to government controlled monetary policy.
How this policy proposal fits within the values and principles of the New Blue Party: Freedom
Policy #25 Finance: "Rights, Privacy Protections, and Financial Framework"
Policy Proposal: The New Blue supports Bitcoin and will support legislation that will:
Uphold the right for individuals to self-custody their Bitcoin and run a Bitcoin node at home;
Implement KYC regulations only at the same level as those required for banks;
Ensure government bodies never have access to individuals' wallets by respecting privacy on all layers on Bitcoin transactions;
repeal existing exchange regulations targeting Bitcoin and crypto exchanges implemented by the PC government;
Eliminate capital gains tax on Bitcoin transactions;
Recognize the right to settle contracts in Bitcoin and allow real estate purchases to be settled with Bitcoin; and
Set the Anti-Money Laundering (AML) threshold for Bitcoin transactions at $150,000 within the province of Ontario.
Why this policy proposal should be an official policy supported by the New Blue Party: Alternative to FIAT government controlled monetary policy.
How this policy proposal will improve Ontario: Freedom in monetary policy.
How this policy proposal fits within the values and principles of the New Blue Party: Freedom
I spoke in favour of both policies to the floor, they were put to a vote and passed. Both policies were approved in a room of non-Bitcoiners, aside from myself and party leader Jim Karahalios, whom I successfully "orange-pilled" a few years ago. We now have our first political party in Canada that has put Bitcoin in writing in their policy guide, as opposed to making promises without the ability to hold them to account. A policy guide is more significant than superficial publicity stunts without follow-up.
All of the recent events, from the Bitcoin policies adopted by the New Blue Party of Ontario to Donald Trump promising a 1 million Bitcoin strategic reserve if elected, are signs of positive change and a significant shift in the cultural zeitgeist towards greater freedom. This optimism and a path forward are desperately needed after a generation of stagnation, economic downturn, and progressive cultural cynicism.
The bright future will come despite the bumps in the road to get there. Hang on; it's going to be a historic journey.
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OK, here's the problem with cryptocurrency, Bitcoin included. Your net worth in Bitcoin is only as good as town computer somewhere that you know nothing about, you lose everything. It's a fiction. It is also, effectively, a pyramid scheme. On top of that, the cost of energy for mining cryptocurrency results in unbelievably high expenditures of energy, which means fossil fuels (which are being shut down, hence not enough to go around), or renewables that do not replace themselves in energy, nor are they made without the use of extremely rare materials and child labor. And at least some cryptocurrencies hack other people's web sites (happened to mine numerous times) for reasons unknown. My web sites were replaced with something requiring a login, and what they do behind that is anybody's guess. In the meantime, my content was off the internet and inaccessible to anyone. And no telling what it did to my reputation on the web. Bitcoin may work in the short term, and indeed it worked for the truckers. But overall, it is not a solution to the problems it purports to solve. It is basically dishonest and fraudulent.
I have three questions:
Where can I purchase a bitcoin and how do I initiate a bitcoin wallet? I would want to hold the coin myself
What happens to bitcoin transactions if the electrical grid goes down?
What are other coins like Ethereum and Dogecoin? Are they a part of the same fixed allotment of bitcoin or are they competitive?
If I could understand these three things I would likely invest in bitcoin. What I have read about it is complex and not easily understandable.
my investment axiom is to only invest in things that I understand.
However, I do understand the benefit of having money outside of the existing system, and would like to know more.
Any advice is most welcome