Topic: Sen. Elizabeth Warren wants more regulation, doesn't think bitcoin is a hedge - page 2. (Read 315 times)

Politicians are no better than their advisors. And they will more probably get advisors for financial problems from the banking sector, people who will not understand and won't care about bitcoin and will also obviously try to protect the status quo.

There are too few politicians who are bright enough to do different. 

It sounds like this belongs in the politics section of the forum more than anywhere else, as you seem to have a bitter chip on your shoulder about her. It's bizarre that you cannot comprehend what she is saying about Bitcoin not being subject to inflationary pressure. It is perhaps more susceptible to inflation than fiat currency precisely because the demand is high and the supply is fixed. Once all the possible bitcoin is mined the amount available to use will also shrink over time, as lots of it is already trapped in wallets that have been lost for many reasons or dust that is abandoned forever. That is going to boost the price if demand even stayed level and that is an inflationary mechanism.

She’s just another in a long line of misinformed, uneducated boomers who are desperately trying to protect the status quo. Bitcoin has faced much stronger FUD than Elizabeth Warren & prevailed. These people hate bitcoin because it empowers the people and strips them of their monopoly on world finance.

This boomer will kneel before us.

US, as a country is full of surprises and a lot of diversity. While the Mayor of Miami is going all in to make bitcoin as a legal payment system in his state, a senator from Massachusetts is arguing against it. But since it's a free country, everyone has the right to speak up on their belief. So she is just speaking up on her own belief about cryptocurrencies, especially bitcoin! But it seems we are immune to such bullshits coming from a lesser known politician.

But one of her words make sense to me,


That's a real threat in the crypto market today. We have already seen such drama from Jemie Dimon or Warren Buffet or even Elon Musk. Now we should start being immune to their comments and views on crypto market. Otherwise such endless game of influence will continue to happen!

"Sen. Elizabeth Warren shoots down a key reason investors buy bitcoin, calls for tighter regulation."  (see https://www.cnbc.com/2021/07/28/sen-elizabeth-warren-doubts-bitcoin-as-inflation-hedge-wants-tighter-regulation.html)

Did anyone think an autocrat like Warren would do anything except call for "tighter regulation"?  She doesn't like freedom, she doesn't want people to be able to control their lives, and she doesn't like privacy.  In short, she is an authoritarian, autocratic thug who loves the power that comes with the socialist/fascist/communist mentality where she commands people to behave exactly how she wants.  She wants freedom for herself and her autocratic buddies to debase the currency without any independent escape hatch to allow people to protect themselves from her misguided policies.

She is also an idiot: "Look at what’s happened in the high volatility in the price of these things,” the Massachusetts Democrat said.  Yeah, anyone who bought it for inflation protection at any point until April 2021 has been well protected against inflation.  Volatility is not risk.  Over a more than a few month time horizon, bitcoin has been phenomenal.  Anyone who listened it fools like Warren has missed out on a tremendous investment.  And if history rhymes, then we still have 1 or 2 (maybe 3) orders of magnitude to go before bitcoin reaches a point of fiat price stability.

Comments like her's are woefully ignorant: Warren, disagreed with “crypto coins are not going to have their own inflationary pressures” and 'she countered such a notion, saying inflation “may come from a different source than what happens with dollars."'   Bitcoin will not have inflationary pressure as anyone with even the most basic understanding of bitcoin would understand.

I still wonder about the obvious limited intelligence of the people who keep electing her.