Yellen sounds warning about ‘extremely inefficient’ bitcoin - Yellen is on an absolute Bitcoin-rampage lately; I think it's obvious government worldwide are getting nervous. These articles are clearly a mandated release by government - complete propaganda. She is trying to discredit it every way she knows how. There are strong arguments that completely destroy all her negative comments. It is speculative - the dollar is literally designed to dump forever to fund government activities at citizen expense. Bitcoin is inefficient - Bitcoin is the soundest form of money on the planet & empowers every individual like never before. It is savings technology that will literally rebuild economies. Bitcoin is used for criminals (classic Yellen) - The fact that she's against the previous 2 should suggest she's the real criminal. Bitcoin computation power is responsible for the equivalent greenhouse gases as New Zealand - The entire financial system is completely wasteful & robs everyone blind. Bitcoin is a minimalist system, the only infrastructure is has - does the job it needs to do. The legacy financial system, well I think you can imagine the infrastructure & energy required to keep it running. There is waste, theft & dishonesty everywhere you look. Bitcoin mining is incentivizing renewable energy; companies are beginning to put their excess energy usage to mine Bitcoin (Instead of just evaporating to nothing). It is repricing energy to what it should be, not a value distorted by government. It is creating healthy competition in a free market. Not mining Bitcoin is bad for the environment! When I add solar panels to my house, the excess energy will go to mine Bitcoin & help secure the global monetary system of the future. Yellen is a piece of work. I think It's obvious they have already lost. Government is a dinosaur empire that will eventually fall. In my mind, it's inevitable. Bitcoin strips power from the most powerful. They will continue to fight it & they will continue to lose. An idea cannot be killed.
Bitcoin just recently crossed a 1 Trillion dollar market valuation. It is really starting to turn heads in the political-sphere. Now that it's eaten $1T, $10T is going to be that much easier. It must be killing them that Tesla dumped 1.5 Billion of their dollars for Bitcoin. This has to be the strongest message to the people yet. The average person is broke & they have no idea why - it's your government. It's your supreme leaders pushing you to the edge. Pushing you to take more risk to try get ahead. Gamble more at the casino/ enter the lottery - the odds are completely against you. Bitcoin is designed to pump forever - there has never been so much certainty available to the people. Instead of gambling: Stack Sats (Fractions of BTC) and pick the winning ticket every time. This is why Bitcoin is called the currency of the people. Gold is the next best, however it's completely manipulated by government & there no fixed supply. It is not easy to verify. It's not divisible. It's not portable. It's terrible as money. Yeah it holds value but Bitcoin makes it look like a shitcoin. Yes, Bitcoin doesn't have thousands of years worth of backing - who cares, Bitcoin is better than gold in every single way. The disruptive tech always wins. Gold is so ridiculously inefficient as money when you place it's properties next to Bitcoin. The boomer gold bugs are waking up though; I think it's interesting how gold has barely moved over the past couple of months. There's over $120T in negatively yielding bonds worldwide. I can't see the rich just sitting there & watching their wealth melt like an ice cube. As the price goes up, more people will question the financial system. More people will jump to Bitcoin in an exponential way. I think we've already crossed the turning point. The prices that are coming will melt faces.
This financial system has been an obvious scam since Nixon went off the gold standard in the early 70's (although debasement of currency goes back to WW1). This is really only as far back as our parent's generation. They then sold them scam to us. They sold us deceptive narratives to make us believe it was OK to rob people. They found a loophole to access unlimited funding & no one stopped them. Makes you wonder how many wars could have been avoided. When you remove the option of unlimited funding from greedy power hungry narcissists, you'd definitely get far less destruction. Wars are extremely costly, the cost to rebuild civilizations is a massive setback to an economy. Every politician will say more spending is needed to fix it. When in reality, it's saving that leads to debt free capital, that leads to infrastructure, that leads to more revenue for a healthy economy. If you're a person who spends & is always in debt - you're never going to get wealthy. Same goes for government. The economic incentives to have due diligence & honest spending is just completely backwards in politics. No human should have access & control on the money supply, it's never going to end well. Yellen is a prime example. Yellen acts like she's for the people (like many in government) - clearly the complete opposite.
Quote from CEO Microstrategy Michael Saylor "Bitcoin is only speculation if you don’t understand the technology or why you need it "
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