Cryptocurrencies have been at a tussle with regulators and lawmakers globally for a long time, however, the fight took a notch higher when US President Donald Trump tweeted late night that he isn’t a fan of Bitcoin and other cryptocurrencies. He blasted Bitcoin accusing it of being used for unlawful activities like drug trafficking, and then lashed out at Facebook, warning the company for its Libra Project.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019
John Mcafee is among the biggest computer minds in the world and has been supporting Bitcoin and altcoins like Dogecoin, Monero, Docademic, etc. for a very long time. His views are seen as market indicators, and he was among the firsts to say that Bitcoin will pass $1 million mark by the end of 2020. Here’s what he had to say in his reply to Trump,
My response to Donald Trump regarding his "Dislike of Cryptocurrency" tweet. pic.twitter.com/TkaPPqULQC
— John McAfee (@officialmcafee) July 12, 2019
However, Countries such as the United States, China and India are constantly complaining about the possibilities of cryptocurrency. China is now engaged in the survival of Bitcoin-miners from its territory; India proposed a bill banning trading in digital currencies; and the United States shows a fear of devaluation of the dollar, while Bitcoin and other coins are going to grow and develop freely
Do you think cryptocurrency contributes to illegal activities such as drug trafficking ??? And I think that the current drug trade at $ 200 billion is estimated in US dollars and paid for by them. Can you still say that those drugs are priced and paid for with bananas or soy milk? Pondering…