Why Trump should embrace Bitcoin, and Stormy Daniels too
Michael Cohen’s testimony may put an end to Trump’s political career. The long-time lawyer and fixer implicated the President of the United States as a co-conspirator in a crime to get elected, and this is serious.
Most people would be immediately charged by federal prosecutors and face jail time. Most people are not the POTUS, though. Thanks to his position, it is unlikely that anyone files charges against Donald Trump… unless he is out of the Oval Office.
The end of Trump’s short but successful stint in politics?
Cohen’s accusation may not put him out of politics directly but it may do so indirectly. By increasing the pressure on Republicans and wearing down the President's credibility, the upcoming mid-term elections may become a hard blow for the right-wing party. If Democrats win the elections by a wide margin, conquering the majority of both chambers, a presidential impeachment will be a probable possibility. This is the scenario all Democrats and anti-Trumpians are looking at.
How does this relate to Cryptocurrencies?
This story would have unfolded very differently if Trump had embraced Bitcoin.
If instead of using fiat currency to pay hush money to porn star Stormy Daniels and Playboy model Karen McDougal, Donald Trump’s fixers had used Bitcoin, Ethereum or other cryptocurrencies, none of this would have happened.
The crypto magic
The National Enquirer, a tabloid newspaper owned by American Media Inc and with close ties with Donald Trump, kept a safe containing documents on hush money payments and other damaging stories. Trump had to admit the payments and explain where the money came from.
This would have been unnecessary in the crypto sphere. Blockchain, the technology that supports Bitcoin, is public and verifiable which means that anyone can check all the transactions (no need for documents kept on safes that can become a liability). However, at the same time, it hides the owner details, and thus, it respects anonymity.
Learning from past mistakes
This is the main lesson we all have to learn from this story. Trump could have paid tremendous amounts of money without middlemen to Stormy Daniels, Karen McDougal and whoever he wanted and harbor no doubt that the transaction was safe from the media and other third parties.
Smart people learn from their mistakes and no person becomes the President of the United States if he is not smart. This leads to the most interesting question: How will Trump learn from this mistake and put it to good use?
A bright future for Bitcoin
If I were him and I could survive this political onslaught, the first thing I would do is fully legalize Bitcoin and make sure all my economic transactions are done with cryptocurrencies. That is what a wise man would do.
Hereby, I make an appeal to everyone who supports this idea to share it with him via Twitter (@realDonaldTrump). Let’s make sure he receives the message. Let’s make Cryptos great again!
