The Government knows best! Don't use non-sovereign monetary systems cause ours our best! Not
Remember good ol Janet Yellen, yea the prior FED Chairman that's now serving as the Treasury Secretary?
You know, the one that recently said bitcoin is being used for illicit activities and is inefficient?
Do you remember here yet?
You should, she's the one being blamed for the selloff in bitcoin though we all know better, she was just the scapegoat for some good ol investing rotations.
When you see headlines like this though, it's hard not to laugh:
(Source:
)https://twitter.com/BradMichelson/status/1364672284997414916/photo/1
- BradMichelson
The funny thing is these headlines are literally only 2 days apart.
One day bitcoin is inefficient, the next day the government monetary rails are all broken.
But yea I guess bitcoin doesn't work as a monetary payment system, and we shouldn't rely on it.
What people don't understand is that the inefficiencies of bitcoin are actually a feature.
The reason it uses so much energy is because that is how the network is secured, if it used less computing resources, it would be easier to take over.
Bitcoin works because it is secure and reliable.
It's never been down, and it's never been hacked. If that requires an enormous amount of energy to run, so be it.