Former President Donald Trump and a lineup of Republican politicians made bold promises to the crypto world during the Bitcoin 2024 conference, held in Nashville. However, the feasibility of these promises is questionable, even if Trump were to win the presidency again.

Trump vowed to establish a crypto Presidential Advisory Council, remove SEC Chair Gary Gensler, implement friendlier regulations, and ban central bank digital currencies. His call to oust Gensler garnered particularly enthusiastic cheers from attendees. However, the process of enacting these measures faces significant challenges.

Creating a national bitcoin stockpile would require new legislation in Congress, while promptly firing Gensler, whose term extends till 2026, could face legal obstacles. Additionally, the urgency of banning central bank digital currencies is diminished by Federal Reserve Chair Jerome Powell's statement that the Fed is not close to deploying such technology.

Despite these obstacles, Republican politicians at the conference eagerly pledged action on various fronts. Senator Cynthia Lummis announced plans for a bill to establish a strategic bitcoin reserve using existing funds from the Federal Reserve System and US Treasury Department. Senator Bill Hagerty stated that the crypto industry would be a significant factor in the upcoming elections.

The conference also served as a fundraising platform for Trump, who hosted an event where attendees paid substantial amounts to secure a spot. The funds raised will support candidates committed to creating a clearer regulatory and legal framework for cryptocurrencies.

Another presidential candidate, Robert Kennedy Jr., expressed his intention to build a strategic bitcoin reserve with a target of acquiring 4 million bitcoins, worth around $272 billion, if elected. Kennedy reiterated his support for Bitcoin, stating that it aligned with his values.

Some attendees at the conference hailed it as validation for the crypto industry. Former professional football player Russell Okung compared the event's significance to that of political conventions and influential organizations like the NRA. However, Okung remained cautious, noting that politicians' attempts at pandering to the crypto community were driven by its growing power.

Following Trump's speech, Bitcoin experienced a surge in value, reaching over $70,000 before experiencing a decline on Monday. Its overall growth of over 50% in 2024 is attributed, in part, to increased adoption by Wall Street, with the introduction of the industry's first exchange-traded funds earlier in the year.

Despite the challenges they face, crypto executives are excited about the potential impact of a US strategic bitcoin reserve on global adoption. Countries may feel compelled to buy bitcoin to avoid being left behind, even if they do not fully believe in its intrinsic value.

The impact of the Bitcoin 2024 conference on the 2024 race and voter mobilization remains uncertain. The event attracted a predominantly male audience, and Vice President Kamala Harris's rapid rise to becoming the presumptive Democratic nominee poses additional uncertainties. While Trump claimed Harris was against crypto, her stance has not been clearly defined, leaving room for cautiously optimistic speculation within the community.

Despite the attention and promises made at the conference, many bitcoin advocates are hesitant to declare victory, as skepticism from the general population persists. Trump humorously acknowledged this disconnect, highlighting that most people still have little understanding of cryptocurrencies.

In summary, the Bitcoin 2024 conference showcased Republican politicians' promises to the crypto community, but achieving these pledges will face numerous challenges. The potential impact on the 2024 race and crypto adoption remains to be seen.