Real answer: that order would have gotten stayed by some judge immediately and never gone into action.

Hypothetical answer: It would probably be much more muted than we'd initially expect. Similar to El Salvador, most people would just keep using dollars and merchants would occasionally have to dust off their LN device.

If he did that, I assume it would remove capital gains tax from bitcoin. I think the fomo from that alone would be insane.

That'd be retarded, and that's why El Salvador rolled it back following an embarrassing experiment for Bitcoin.

Money is a battlefield of 5GW, and Trump is executing an O-plan. Remember that he's a Wharton school economist and avowed Jacksonian.

To see the big picture, all we have to do is look at what Jackson did to destroy the foreign run central bank, since that is the end game. He's already told us that ffs, but most are too busy virtue signaling to listen for comms. Just last week two established Bitcoiners were put on point for a Sovereign Wealth Fund, the sheep of course didn't notice.

Bitcoin has already won and been adopted philosophically in the manifestation of policy. Distribution can come only from that, which is now a relatively straightforward engineering challenge if you can think strategically more than 5 minutes out.

Fact on the ground is that most liabilities globally are in dollars, these can't simply disappear, therefore dollar is the world reserve currency. That's leaves a big problem for the US in terms of national security because of the Triffin Dilemma, among other things. Hard forking legal tender doesn't fix that despite midwit shrieking to the contrary, that'd be like moving a bridge while traffic is still driving across it. A soft landing to a Bitcoin standard takes time, and a hard landing is a non-starter for national security.

The engineering challenge as we've seen historically, is that the soft-landing alternative of using a commodity currency isn't long-term viable because it causes hoarding of real assets, which as we've seen in real estate causes many societal issues. Gold-like commodities end in paper receipts (fiat). These re-creates the fiat security problem all over again (and why gold bugs are the real enemy).

Enter the NSA, purveyors of the finest weaponized cryptography and SIGINT, and the highest level of the national security apparatus uniquely positioned to support technology with psychological operations. They implemented a decades old plan as gleaned from papers as far back as the 70s, a conveniently timed astroturfing of a free-float international digital currency as a check against capital controls that serve the interest of the globalist bankers and at the expense of the US sovereignty.

It's this free-float of Bitcoin that keeps all other currencies in check, thus Bitcoin is a national security imperative, not just for retards to buy laptop stickers and coffee.

No one has worked on Bitcoin as a means of exchange more than I, and doing so means having no illusions about MoE being Bitcoin's second act. The second act must follow the first.

I think we know Trump isn't a bitcoiner and I don't think he ever will be.

I do think regulation will open up for all digital assets under his admin, but unfortunately that won't be the case. I can see him going full strength on a strategic shitcoin reserve.

Better guidelines and an overhaul of crypto taxation are needed. While talk of crypto going tax-free has been mentioned, the US still has capital gains taxes. Every transaction is considered a taxable event that must be reported if used to buy or sell assets with a corresponding gain or loss since purchase.

Instead of trying to do tax-free, a more straightforward approach would be to pass a law making a certain amount of gains (or losses) on transactions be tax-free. Say $500, or $1000. This way, you could legally buy a cup of coffee and not have to report transaction gains or losses. People could purchase more items, more transactions/send fees (or routing), happy miners and node runners, and a more crypto-friendly country.

Until we have new laws for businesses, better adoption won’t happen.