03-29-2022, 12:52 AM
Senator Elizabeth Warren and goldbug Peter Schiff actually understand crypto really
<!-- SC_OFF --><div class="md"><p>U.S. Senator Elizabeth Ann Warren, a Democrat from Massachusetts — who has long led the left’s charge to crack down on banks and Wall Street — has emerged as one of the party’s most vocal cryptocurrency critics. </p> <p><em>“The idea that they’re somehow a protection or a hedge, I don’t think that’s going to be borne out over time.”</em> She has said. </p> <p>She announced last Thursday <a href="https://www.theblockcrypto.com/post/138263/senator-elizabeth-warren-introduces-bill-targeting-russian-crypto-use-amid-sanctions">a new bill, the "Digital Asset Sanctions4Compliance Enhancement Act", to block cryptocurrency companies from conducting business with sanctioned companies</a>, warning that Russian leaders and billionaires may use digital currency to evade sanctions imposed after the invasion of Ukraine, <a href="https://www.aljazeera.com/economy/2022/3/1/crypto-will-not-save-russia-from/">even though that has been disproven</a> and besides, any country and sovereign citizen is largely free to use crypto as they see fit. </p> <p>She has further said <em>“Given the extraordinarily high energy usage and carbon emissions associated with Bitcoin mining, mining operations raise concerns about their impacts on the global environment, local ecosystems, and consumer electricity costs.”</em> - a cherry picked FUD statement completely leaving out the fact that the Bitcoin mining industry pairing up with natural gas and oil companies has <a href="https://terrapass.com/blog/bitcoin-fracking-converts-wasted-energy-power-bitcoin-mining">arguably beneficial effects for the environment and can lower the carbon emissions from both industries</a> or that <a href="https://finbold.com/new-study-bitcoin-mining-consumes-only-0-38-of-the-worlds-wasted-energy">Bitcoin mining consumes wasted energy</a>/) or that the <a href="https://www.coindesk.com/learn/can-crypto-go-green-how-to-invest-in-eco-friendly-cryptocurrencies/">Bitcoin Mining Council surveyed 32% of its network and claimed its users were mining with a 67% renewable energy mix.</a> </p> <p>Similarity, Peter David Schiff, an American stockbroker, who leads SchiffGold; a precious metals dealer specializing in gold and silver bullion, is also a vocal critic of cryptocurrencies. He has said <em>”Bitcoin probably won’t take off anymore”</em> and <em>”It’s just a hype machine. … If Bitcoin will still be here in the next 20 to 50 years, it only means more people are gonna lose money.”</em> - He constantly says Bitcoin is going back down to $10,000 and that <em>”It’s completely useless”</em> even though his predicted patterns have been found to be inaccurate time and time again AND he <a href="https://schiffgold.com/buy/buying-gold-silver-cryptos/">has literally accepted Bitcoin as payment for his gold company since 2014!!</a> – it’s a good thing <a href="https://nitter.net/SpencerKSchiff">his son is a Bitcoiner!</a> </p> <p>What these two people have in common is that <strong>they are politically, economically, and socially incentivized to be against decentralized finance.</strong> They are elites demanding laws to be uncritically accepted by lawmakers based only on mystical incantations, unfounded beliefs, non-thoroughly researched claims, and a true lack of understanding about the technology. </p> <p>Warren works for the American government, literally saying things like <em>“Digital currency from central banks has great promise”</em> & <em>“Crypto is a lousy investment….Unlike, say, the stock market.”</em> Peter Schiff is scared that Bitcoin could (will) take market cap away from gold, a precious metal he has devoted his life to and career supporting. </p> <p>It’s almost impossible to underestimate the intelligence of these fools, and I’m jealous of the people who haven’t heard about them. They are not crypto vultures; they are what crypto vultures will eat.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Jxntb733"> /u/Jxntb733 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tq8lcb/senator_elizabeth_warren_and_goldbug_peter_schiff/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tq8lcb/senator_elizabeth_warren_and_goldbug_peter_schiff/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>U.S. Senator Elizabeth Ann Warren, a Democrat from Massachusetts — who has long led the left’s charge to crack down on banks and Wall Street — has emerged as one of the party’s most vocal cryptocurrency critics. </p> <p><em>“The idea that they’re somehow a protection or a hedge, I don’t think that’s going to be borne out over time.”</em> She has said. </p> <p>She announced last Thursday <a href="https://www.theblockcrypto.com/post/138263/senator-elizabeth-warren-introduces-bill-targeting-russian-crypto-use-amid-sanctions">a new bill, the "Digital Asset Sanctions4Compliance Enhancement Act", to block cryptocurrency companies from conducting business with sanctioned companies</a>, warning that Russian leaders and billionaires may use digital currency to evade sanctions imposed after the invasion of Ukraine, <a href="https://www.aljazeera.com/economy/2022/3/1/crypto-will-not-save-russia-from/">even though that has been disproven</a> and besides, any country and sovereign citizen is largely free to use crypto as they see fit. </p> <p>She has further said <em>“Given the extraordinarily high energy usage and carbon emissions associated with Bitcoin mining, mining operations raise concerns about their impacts on the global environment, local ecosystems, and consumer electricity costs.”</em> - a cherry picked FUD statement completely leaving out the fact that the Bitcoin mining industry pairing up with natural gas and oil companies has <a href="https://terrapass.com/blog/bitcoin-fracking-converts-wasted-energy-power-bitcoin-mining">arguably beneficial effects for the environment and can lower the carbon emissions from both industries</a> or that <a href="https://finbold.com/new-study-bitcoin-mining-consumes-only-0-38-of-the-worlds-wasted-energy">Bitcoin mining consumes wasted energy</a>/) or that the <a href="https://www.coindesk.com/learn/can-crypto-go-green-how-to-invest-in-eco-friendly-cryptocurrencies/">Bitcoin Mining Council surveyed 32% of its network and claimed its users were mining with a 67% renewable energy mix.</a> </p> <p>Similarity, Peter David Schiff, an American stockbroker, who leads SchiffGold; a precious metals dealer specializing in gold and silver bullion, is also a vocal critic of cryptocurrencies. He has said <em>”Bitcoin probably won’t take off anymore”</em> and <em>”It’s just a hype machine. … If Bitcoin will still be here in the next 20 to 50 years, it only means more people are gonna lose money.”</em> - He constantly says Bitcoin is going back down to $10,000 and that <em>”It’s completely useless”</em> even though his predicted patterns have been found to be inaccurate time and time again AND he <a href="https://schiffgold.com/buy/buying-gold-silver-cryptos/">has literally accepted Bitcoin as payment for his gold company since 2014!!</a> – it’s a good thing <a href="https://nitter.net/SpencerKSchiff">his son is a Bitcoiner!</a> </p> <p>What these two people have in common is that <strong>they are politically, economically, and socially incentivized to be against decentralized finance.</strong> They are elites demanding laws to be uncritically accepted by lawmakers based only on mystical incantations, unfounded beliefs, non-thoroughly researched claims, and a true lack of understanding about the technology. </p> <p>Warren works for the American government, literally saying things like <em>“Digital currency from central banks has great promise”</em> & <em>“Crypto is a lousy investment….Unlike, say, the stock market.”</em> Peter Schiff is scared that Bitcoin could (will) take market cap away from gold, a precious metal he has devoted his life to and career supporting. </p> <p>It’s almost impossible to underestimate the intelligence of these fools, and I’m jealous of the people who haven’t heard about them. They are not crypto vultures; they are what crypto vultures will eat.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Jxntb733"> /u/Jxntb733 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tq8lcb/senator_elizabeth_warren_and_goldbug_peter_schiff/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/tq8lcb/senator_elizabeth_warren_and_goldbug_peter_schiff/">[comments]</a></span>Kind Regards R