Industry insiders: "All remaining Bitcoins are made in the United States" is a Trump-like statement and is definitely not reality

PANews reported on December 29 that according to the Financial Associated Press, US President-elect Trump’s decision to ensure that all remaining Bitcoins are “Made in the United States” should be one of the most unlikely promises to be fulfilled. Industry insiders generally believe that Trump’s promise is seen more as symbolic support for the cryptocurrency industry and is almost impossible to achieve in practice. Because blockchain is a decentralized network, no one controls or is prohibited from participating in the process. The computing power of domestic miners in the United States is still far less than half of the global total, so it is almost impossible for the entire Bitcoin network to be fully supported by American companies. “It’s Trumpian rhetoric, but it’s definitely not reality,” said Ethan Vera, chief operating officer of Luxor Technology, a Seattle company that provides software and services to miners.

Some analysts pointed out that U.S. economic sanctions and severe inflation in some emerging economies have prompted overseas miners to further expand their business. Synteq Digital CEO Taras Kulyk said, "There are a few different markets that are seeing tremendous growth." The company is one of the largest brokers of computers dedicated to Bitcoin mining. Kulyk said demand is increasing in Eastern European countries such as Kazakhstan, and "sales to Asia, Africa and the Middle East are all rising." Other analysts pointed out that Trump’s policies may also bring challenges to American miners. For example, his trade policies may lead to an increase in the cost of Bitcoin mining equipment. For miners, electricity and equipment are the two biggest expenses. But for the entire currency community, Trump’s benefits outweigh his disadvantages.