• Latest
‘Knives Coming Out’ As Cryptoverse Responds To BTC FUD By US Senator

‘Knives Coming Out’ As Cryptoverse Responds To BTC FUD By US Senator

June 10, 2021
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Business

‘Knives Coming Out’ As Cryptoverse Responds To BTC FUD By US Senator

coinnewsdaily by coinnewsdaily
June 10, 2021
in Business
0
‘Knives Coming Out’ As Cryptoverse Responds To BTC FUD By US Senator
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

'Knives Coming Out' As Cryptoverse Responds To BTC FUD By US Senator 101
Elizabeth Warren. Source: A video screenshot, Youtube/Bloomberg Politics

Popular US Democratic Senator Elizabeth Warren made some crypto-related statements that the Cryptoverse found incorrect, to say the least – including Bitcoin (BTC) environmental concerns, investment and utility, use for an illicit purpose, need for strict regulation, among others.

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

“The fight of the US against Bitcoin has begun,” said venture capitalist Marc van der Chijs in response to Warren’s many claims on crypto. “Facts don’t matter for Senator Warren, it’s all one big FUD. But I believe Bitcoin will win this, the world has changed too much to stop it,” he added.

Speaking at the first Senate Banking subcommittee hearing on digital currencies which she chaired, Warren argued that the amount of energy powering the Bitcoin network threatens the environment

Bitcoin requires so much computing activity that it eats up more energy than entire countries. One of the easiest and least disruptive things we can do to fight the #ClimateCrisis is to crack down on environmentally wasteful cryptocurrencies.

https://t.co/KRDnP94ouQ — Elizabeth Warren (@SenWarren)

With quite a few people calling Warren a hypocrite on pretty much all the issues she mentioned, the environmental concern claim was one immediately jumped on (especially as she herself is using a private jet), with the Cryptoverse arguing that there has been so much discussion on this already, and that this misinformation can be “relatively easily debunked.” For example, contrary to what she stated, BTC transactions do not use extra electricity.

Natalie Smolenski, Head of Business Development at Hyland Credentials, for example, wrote that BTC is “one of the most powerful drivers moving the world toward clean energy,” adding that “you will not solve the climate crisis by adopting an anti-technology stance.”

About 75% of miners use some kind of renewable energy, Cambridge studies show, while renewables account for less than 40% of the total energy used.

In a separate interview, Warren described the crypto market as the “Wild West.” She went on to state that digital currency is “not a good way to buy and sell things and not a good investment and an environmental disaster.”

Sam Trabucco, a quantitative crypto trader at Alameda Research, among others, replied that “volatile asset = not a good investment is a common fallacy.” While it’s likely not the best idea for retirees to put all their money into crypto, “high-risk high reward is the prototypically best thing for young people to invest in,” he said.

Per Lawrence H. White, Professor of Economics at George Mason University, Warren is “the least genuine podcast host ever.”

Senator please educate yourself and your staff on this issue before you make general sweeping statements. pic.twitter.com/cqvK1gLdiU

— thecryptosheet.com (@thecryptosheet) June 9, 2021

Some of the hearing witnesses’ suggestions included world governments cracking down on Bitcoin and crypto in general, perhaps even banning their conversion back into USD, such as financial economist Darrell Duffie opined.

Per Warren, the country’s government ought to increase the oversight of this market and to find protect consumers from scams brought forth by the rapid rise of cryptos, possibly including certain regulations that exist in other parts of the financial system, stating that her committee plans to hold crypto-related hearings in the future as well.

Quite a few commenters found this statement disingenuous as well.

@SenWarren you just said investors are protected against pump & dumps when buying stocks.

You did realize that stocks pump and dumped so hard earlier this year it almost blew up the market and you held two separate hearings on it and its still going on today, right?
— Travis Kling (@Travis_Kling) June 10, 2021

Warren did also mention bringing in different relevant parties’ opinions to these discussions, but notably, she was talking about different regulators, such as the Securities and Exchange Commission (SEC) and bank regulators, without mentioning anybody from the crypto industry itself. She said that the US is behind when it comes to cryptos, but on the matter of regulating them.

In either case, making a full circle back to van der Chijs’ tweet from the beginning, Nic Carter, Partner at Castle Island Ventures, wrote that “the knives are coming out,” with policymakers “moving against us swiftly and aggressively,” but that they “can’t make the case against us without lying constantly.” Per Carter, Warren deliberately made false statements on Bitcoin’s energy consumption, its utility, use for illicit purposes, and others.

Here’s a picture of John Thain’s house.

The was one of the biggest recipients of TARP bailout bonus money when Warren was TARP administrator.

Now Warren is once again going to bay for her banker cronies because geeks have invented better money.

Senator, you are a fraud.

pic.twitter.com/Q20nifMp1M — Bruce Fenton (@brucefenton) June 9, 2021

Learn more:
– SEC Commissioner Worried Tight Regulation Could Thwart Crypto Innovation

Tags: bank regulatorsDigital currencieselectricityenvironmentalhead of business developmentNatalie SmolenskiNic CarterProfessor of EconomicsRansomwareSenate Banking subcommitteeTravis Kling
Share76Tweet47
Previous Post

Waivlength, a New Cryptocurrency-Powered Social Media Platform

Next Post

Pantera Capital and Arrington XRP Capital lead $5.8M Unbound Finance raise

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin
Alt Coin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?
Alt Coin

What is the future of Ethereum (ETH)?

April 22, 2022
Load More
Next Post
Pantera Capital and Arrington XRP Capital lead $5.8M Unbound Finance raise

Pantera Capital and Arrington XRP Capital lead $5.8M Unbound Finance raise

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$19,322.26-0.54%
  • ethereumEthereum(ETH)$1,062.17-0.80%
  • tetherTether(USDT)$1.00-0.07%
  • binancecoinBNB(BNB)$217.640.23%
  • cardanoCardano(ADA)$0.4518780.55%
  • rippleXRP(XRP)$0.3158480.78%
  • SolanaSolana(SOL)$33.191.05%
  • dogecoinDogecoin(DOGE)$0.0670760.80%
  • polkadotPolkadot(DOT)$6.820.54%
  • daiDai(DAI)$1.00-0.04%
  • tronTRON(TRX)$0.0651690.27%
  • Shiba InuShiba Inu(SHIB)$0.0000100.52%
  • leo-tokenLEO Token(LEO)$5.75-3.38%
  • matic-networkPolygon(MATIC)$0.4726202.19%
  • litecoinLitecoin(LTC)$50.32-1.42%
  • FTXFTX(FTT)$24.60-0.53%
  • OKBOKB(OKB)$12.08-1.64%
  • chainlinkChainlink(LINK)$6.161.13%
  • CronosCronos(CRO)$0.113239-0.32%
  • stellarStellar(XLM)$0.108534-1.81%
  • cosmosCosmos Hub(ATOM)$8.252.09%
  • algorandAlgorand(ALGO)$0.307710-0.48%
  • moneroMonero(XMR)$116.052.94%
  • ethereum-classicEthereum Classic(ETC)$14.781.20%
  • bitcoin-cashBitcoin Cash(BCH)$104.182.14%
  • vechainVeChain(VET)$0.0224120.43%
  • tezosTezos(XTZ)$1.455.12%
  • Internet ComputerInternet Computer(ICP)$5.300.92%
  • filecoinFilecoin(FIL)$5.350.28%
  • theta-tokenTheta Network(THETA)$1.180.61%
  • ElrondElrond(EGLD)$50.15-2.36%
  • bitcoin-cash-svBitcoin SV(BSV)$53.423.09%
  • eosEOS(EOS)$0.931.98%
  • paxos-standardPax Dollar(USDP)$1.000.02%
  • makerMaker(MKR)$905.79-0.64%
  • AaveAave(AAVE)$57.03-0.21%
  • iotaIOTA(MIOTA)$0.2673821.01%
  • zcashZcash(ZEC)$53.900.48%
  • huobi-tokenHuobi(HT)$4.32-1.94%
  • basic-attention-tokenBasic Attention(BAT)$0.406286-0.22%
  • havvenSynthetix Network(SNX)$2.5715.45%
  • neoNEO(NEO)$8.280.22%
  • zilliqaZilliqa(ZIL)$0.039013-2.60%
  • wavesWaves(WAVES)$5.19-2.35%
  • nemNEM(XEM)$0.05496043.48%
  • dashDash(DASH)$42.742.07%
  • KusamaKusama(KSM)$48.760.93%
  • PancakeSwapPancakeSwap(CAKE)$3.01-0.04%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • ethlendAave [OLD](LEND)$4.103.48%
  • CompoundCompound(COMP)$47.01-1.21%
  • qtumQtum(QTUM)$2.790.95%
  • bitcoin-goldBitcoin Gold(BTG)$15.501.68%
  • omisegoOMG Network(OMG)$1.821.52%
  • golemGolem(GLM)$0.227423-2.14%
  • ontologyOntology(ONT)$0.2383341.74%
  • SushiSushi(SUSHI)$0.980.56%
  • yearn-financeyearn.finance(YFI)$5,582.992.94%
  • umaUMA(UMA)$2.52-0.86%
  • digibyteDigiByte(DGB)$0.009180-0.03%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....