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

These kind of people, no matter how happy you try to educate them about Bitcoin, they wouldn't heed to the idea because they prefer to be in power than to have this power stripped down and distributed amongst other people who invest in crypto. Bitcoin is a threat against ever-inflating fiat currencies like the dollar and when people keep patronizing it rather than allow the theory of the "rich get richer" take place, they resolve to backlash Bitcoin. I just read what she told CNBC and her arguments aren't valid even at the very least. Goes to show she knows very little to nothing about Bitcoin and is unwilling to learn.

But are they going to easily draft a regulation protocol? It is not easy especially if they are not fully knowledgeable about what they are saying. So it will take time before they can truly understand what they want to do here. Though they have their own researchers and all, still they need to understand it for themselves. So I believe, if a politician is calling for such regulation, the actual implementation may be too far as they have no solid knowledge about what they are saying.

It's pretty much always the case, hence why they want to regulate it in the first place. They're going to KYC as much as they can, and of course, what they're waiting for — they're going to tax the crap out of everything they can.

Politicians are holding high positions but it doesn't mean they are as brilliant and well-researched as others may perceive. They are there speaking in front of a very powerful body, influencing others, crafting policies, calling for regulations, etc as if they are authorities on the subject they are speaking about.

Sen. Elizabeth Warren obviously belongs to this category of rotten politicians. It is all right if a politician does not understand something beyond his knowledge. A politician does not know everything. But the least that they could do in such situation is to close their mouth while gathering information and digesting them. But Warren keeps on talking while knowing nothing.

Pure theater is exactly what it is.

I was watching Micheal Saylor on cnbc and he was doing a nice job with the interview.

He was asked about Warren’s comments and he said to be fairly knowledgeable about btc would take 1000 hours or more of study. Politicians are asked about BTC and feel obliged to answer.
Even if they do not have much knowledge.

A beautiful insult rather then say she is a moron making it up as she gives the answer.

If you hear and see what she said she obviously was winging it.

unfortunately, this type of behavior plays out over and over without many people noticing


people like Elizabeth Warren are almost always posturing about being tough on corporations, but nothing meaningful ever happens to prevent them from exploiting their unfair advantage. It's pure theater; supporters don't want to believe it, because it seems too negative and/or cynical to see it for what it really is.

The best you can say is Warren and her ilk (including the media outlets inclined to support it, think The Guardian.com) are bad at their jobs, consistently, over decades. And if someone actually believes that, my personal perspective is: that's naive

That's one way of putting it, if it ain't broke then don't fix it. I mean if we continue to have this kind of people in the future that don't try to break the system knowing that it is exploiting the poor people and the under privileged. I think even if it's not a far fetch idea, a lot of people will probably oppose jailing bitcoin users since it's sort of becomes a problem for freedom of speech.

They are all the same. The very system that they grew old had produced people only want people to be poor all the time so they could control them.  Its not going to be far fetch to see her suggestion bitcoin holders to be  jailed.

The senate hearing lately had invited Filecoin team member,  they must be terified with the idea of files that can't be taken down from the internet pages.

do not lump me in with her using your boomer insult.

It simply proves my point that she is winning. see my post right above this one.

She is part of the system designed to get the masses to turn on each other. Once the majority of the people are fighting that she is right and trump is wrong or trump is right and she is wrong the two of them go to a back room  and steal from all those fighting about them.

They are all no good and simply stir the pot to make trouble.

There is no left or right just a bunch of like minded crooks putting on a show while they conspire to keep the vast majority of us poor.

Think about it for a moment, what would you do if your employer had nothing but to lose from your statements with respect to something that obviously conflicts with what you do?
In the end, you have to understand them, they can't go against the established order that they themselves propagate.
Bitcoin as a truly democratic revolution, untying the issuance of currency from a central system does nothing but undermine the foundations of an old and oppressive financial world.
Let the Senator call all the regulation in the world because when bitcoin is even more widely adopted on a global scale, their regulation will melt away like snow in the sun.

That means that if the government doesn't have any stake on it, they won't be supporting those things from existing. I think the reason that this politicians are doing this because some people in some companies probably have asked or loobied these politicians to make regulations that is going to be bad for their competition which is bitcoin and other cryptocurrencies.

Sadly enough, a lot of people actually think that Sen. Warren would be for bitcoin and cryptocurrencies if she actually understood it(which I somewhat agree). It simply doesn't make sense for her to be against central authorities with huge power(she seem to have Bezos on her cross hairs) but at the same time hate decentralization. Like what.

Here we have an interesting development. Democrats like Elizabeth Warren in the US are pushing for more restrictive cryptocurrency regulation.

While republicans in florida, texas and around the world are embracing cryptocurrencies, and passing laws to recognize them as legal tender.

Would state sovereignty allow florida, texas and other US states to escape SEC regulation on cryptocurrencies should the two conflict.

If democrat states mandate bans on bitcoin and cryptocurrencies, could it trigger an even larger mass exodus from bitcoin unfriendly blue states, to bitcoin friendly red states.

She clearly doesn't even understand what she's talking about. It's like there's an idea in her head "be against cryptocurrencies" and she puts that in speeches but doesn't even bother with providing the real facts to support her ideas. Why people believe Bitcoin can be a hedge against inflation? Well, for one thing, the history shows so. What proofs does Warren have to support her statements?

what source?

and why is that?

Just like many politicians: big claims but no real facts to support them. It's sad that some people believe what they say.

Just another lawperson that doesn't know much outside of the usual scope of their work. We should really elect officials that are willing to be educated and be informed on the current trends in society, economics, and different industries and not just focus on politicking to retain their positions. There's a lot of opportunities being taken away from the normal folks due to imposing too much regulations on cryptocurrencies. If they are really keen in protecting the interest and promoting the welfare for their citizens, they would focus on more pressing matters and not creating regulations on a space that is proving to be more beneficial as time goes by.

History will forget them and nobody will remember them. They will only remember Bitcoin and its history to go mainstream then legal tender.

Some of them knew about Bitcoin and cryptocurrency much later than Bitcoiners, forum members.

Some of them only began with money, big capital and lack of knowledge about Bitcoin. As they are busy guys, they won't spend much time to do in-depth learning on Bitcoin and crypto.

If you hodl your Bitcoin and don't read news too often, they won't be able to affect you.

Politicians are pushing for strict regulations to so called "protect" people from "risky" volatile assets. But yet, people are totally free to take part in lotteries. LOL

I wonder why/how like 98% of the people who get elected get elected.  It amazes me that these politicians with so little knowledge of subjects like these like to open their big mouths and spew out a bunch of nonsense.  The only thing that I really ever liked about Elizabeth Warren was when she went at Michael Bloomberg and absolutely destroyed him during the debates..other than that I agree she is part of the elite who just want to try and control us.

You still wonder why they elect this kind of people? Look for the school system and the households of each voters, they came from those places. A school system that is just a factory for creating more employees is definitely going to result with people having a pssive mindset and a household that is passive will result with a children with low critical thinking skill. I think these continuous regulation is going to be problematic for bitcoin users in the near future because the more strict it becomes, the more the people will stop using it.

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.