What Does The U.S. Election Mean For Bitcoin?: Fed Watch

Bitcoin has an unyielding apolitical nature which, oddly enough, makes it a political statement in today’s rampantly politicized world.

In this episode of Bitcoin Magazine's Fed Watch, co-hosts Christian Keroles and Ansel Lindner discuss the recent U.S. Presidential Election and what it means for Bitcoin. Their discussion is wide-ranging, going from election irregularities, to the rebound in mining hash power, to bitcoin price predictions for the near term.

Bitcoiners — those who believe that Bitcoin can change the world for the better — see bitcoin as generally insulated from most other market concerns. They think political and monetary events inevitably force the interaction of human nature with bitcoin’s unique properties creating a perhaps politically-unpopular yet unavoidable outcome. They believe this process will occur regardless of election outcomes and the only question is how fast it will happen.

Lindner is a staunch anti-voting advocate who rips into elections as a route for central planners and statists to legitimize their infringement on the electorate. It is now popular to contest the validity of this election, and hopefully in doing so, people will realize that they should contest the validity of all elections. Casting a vote creates the very space for election fraud to exist and harmful laws to be enacted. We cannot achieve prosperity and happiness through a ballot box, Linder argues.

Nevertheless, markets seemed to approve of the outcome. Whether that is because they are trying to price in further stimulus or as an effect of relief that Election Day is over, markets leaped upward. Lindner and Keroles discuss where they are going from here.

The conversation also moves toward the recent volatility of the Bitcoin hash rate. The last few weeks saw the end of the rainy season electricity rates in China and an apparent mass movement of mining equipment to other parts of the country. This resulted in the second largest downward adjustment in difficulty in the history of bitcoin mining, followed by a steep rebound. Lindner quotes at length from his recent article on the seasonal hash rate.

For more compelling video content from Bitcoin's original publication, subscribe and turn on notifications for the Bitcoin Magazine YouTube channel.

Connect with us on social media and join the conversation:
Twitter: https://twitter.com/BitcoinMagazine
LinkedIn: https://www.linkedin.com/company/bitcoin-magazine/
Facebook: https://www.facebook.com/BitcoinMagazine
Twitch: https://www.twitch.tv/bitcoin

Subscribe to our newsletter and receive news and analysis before anyone else: https://bitcoinmagazine.com/subscribe

Listen and subscribe to our podcasts:
Apple: https://podcasts.apple.com/us/podcast/bitcoin-magazine/id1459884105
Spotify: https://open.spotify.com/show/1IxBiqXrUwWUgwiQwKWwxk?si=i1YLDbXySIGGZ1owRdgXtQ
Google: https://podcasts.google.com/feed/aHR0cDovL2JpdGNvaW5tYWdhemluZS5idGMubGlic3lucHJvLmNvbS9yc3M

~

Bitcoin Black Friday is almost here! Don’t miss the best deals in BTC: https://www.bitcoinblackfriday.com/
Bitcoin 2021 will be the biggest Bitcoin conference ever! Get your ticket now: https://b.tc/conference