This is not possible because bitcoin is not centralized or controlled by any central authorities. Bitcoin price is derived from demand and supply and nothing more than that. That is why no central authority have the power to control bitcoin price and the reason for its huge adoption as it is totally different from fiat.

Bitcoin will become worst if US dollars is backed with Bitcoin, this mean The FED will own Bitcoin as much as they can and if they able to own all the Bitcoin, Bitcoin's maximum supply is just a theory. People who want to own Bitcoin can only buy it from ETFs or centralized exchange, it can't be moved to non custodial wallet. What you get is only the IOU version of Bitcoin, instead of the real Bitcoin.

Yep, the moment they can abandon $ from gold standard and people sill trust the $ even though it's backed by nothing, that was their biggest achievement and there's no way they want to use assets to backed their $ because it would ruin their system.

Although there are many adoption toward Bitcoin especially the recent ones SEC approved ETFs, but I don't see it's a good thing for Bitcoin itself. Profit/gain isn't the only one thing that make people interested to own Bitcoin...

Firstly Op let me start by answering this. My answer is a yes. In fact it already is . For sometime now I have been quite skeptical about how users will cope as Bitcoin adoption goes up and most especially when fees were on the high side from ;

• late last year (period of Ordinal crisis)
• Earlier this year (still because of ordinal crisis of the previous year and also because of the anticipations before the last halving event)
• And the most of it all, the uneconomical fees caused by conjestions in the halving and a couple of other blocks that came after it.

However currently fees are quite ok ( thank goodness)

Secondly Bitcoin can only become an alternative of fiat and won't replace fiat because aside from it being created by Satoshi NAKAMOTO as an alternative, it is also a decentralized currency and therefore can't be controlled by a central body (the government and central bank), and for a currency to become fiat it has to be controlled by a central body which is mainly the government.

I don't see a reference link that we can see in full what Kennedy or Trump said as you said and the claim seems a bit ambiguous and doesn't have any value.

Bitcoin has been getting better before it was even talked about and bitcoin has a different side without anyone controlling it. Digital currencies have securities and they are controlled so coordinated that there is no chance of achieving the freedom that bitcoin has. If asked what the advantages are then we can hardly find anything because every thing that is controlled has a much greater level of play.

Politicians have a passion for lying and they deliberately create chaos to make people think otherwise. Remember how Covid-19 emerged and you should know why it happened and what aspects affect the world economy.

Well, most of these politicians just say things to get more supporters, they're aware that people are beginning to see Bitcoin as an asset class and are investing heavily in it, so they're trying to use that medium to gain the support of people who use an invest in Bitcoin, well I'm not really sure if they'll even keep to their promises but I don't think Bitcoin would improve the value of their currency immediately if backed by it due to it's volatility but if they're thinking of long-term asset to back up the US dollars then Bitcoin Bitcoin could be seen as the best option for that, we've seen it's improvement over the years since it's creation and it still got a lot of potential to improve more over time. And backing the US currency with Bitcoin could further attract lots of new investors making it to gain more in price.

Bitcoin is scarce, which is useful for pegging purposes. But it's also not as widely recognized as something valuable as gold is, so there can potentially be an issue with that. More importantly, there are two things to mention here. One is that Bitcoin is really volatile, and fiat currencies strive to be stable, so pegging to something volatile is problematic. Another point is that the USD is actually doing alright with current policies, so it doesn't need to be backed up by anything. As for whether it's technically possible, I think it is if the US government buys a lot of BTC and keeps it as its own reserves. But also, it's kind of not possible because the US economy is much-much bigger than BTC's total market capitalization, and even the USD circulation is twice as big as BTC's total market cap.

The main reason behind the interest of the people for Bitcoin is that Bitcoin is not under the control of anyone and nobody can have access towards the changes in its price. People choose Bitcoin more often for the purpose of investment because it's price is not changeable due to the thoughts of the people therefore I think once it becomes centralized then the number of Bitcoin investors will not be more as that is today.

Two things can change the price of Bitcoin one is news and another is demand so if news is spreading in a positive direction then there is a chance that price will also boost. Demand for Bitcoin describes the success in coming days therefore without these two nothing can be a cause of Bitcoin fluctuations as it is not under the control of anyone.

First, I do not think that US dollars will be backed by Bitcoin, there is no gain for the US government to implement such financial system.  Remember the government always wanted to have control over their jurisdiction and if possible even outside their territory.  So even the idea of using Bitcoin to back up their US dollar won't get into the government financial advisors mind.


If in case the US government implemented a US dollar backed by Bitcoin system, then I think the Bitcoin market will surge.  The disadvantage is that, the decentralized nature of Bitcoin might be affected since the future development may point forward to centralization influencing the developers or even taking over the Bitcoin development either by force or negotiation.

Many politicians are known good talker but I do not think that all of them intend to lie, it is that the law is not established by one person alone but rather by the whole legislative system since there is also these judiciative and executive system in the government that influence each others decision.


I believe no, Bitcoin is good as it is having a decentralized nature independent from any political influence.  If Politics enter the Bitcoin ecosystem, we might see "circus" events since I think that there will be a lot of controversy that may happen.

The politicians are not just liars they are the biggest haters of cryptocurrency because they have no control over the assets of cryptocurrency investors and enthusiast. I think you have got his main aim of speaking good about crypto because his sugar coated speech will increase his chances of getting vote into power but after he is elected as the next president who becomes the speech he made before he was elected? Bitcoin is doing well without the intervention of politicians and government bodies entirely so let no body be deceived to believe that Bitcoin can be used to replace fiat or think that the government will automatically see more reason to encourage Bitcoin believes because they can have the same benefits of regulating and monitoring the transaction of cryptocurrency traders the way they constantly control and monitor the fiat transactions especially in the banks.