93.7 F
College Station
Thursday, June 17, 2021

A Major Democrat Comes out Against Bitcoin and Gives the Entire Game Away in the Process

Local News

College Station Bans Traditional Pet Shops

At Thursday's meeting, the College Station city council passed an ordinance that prohibits the sale of non-rescue dogs and cats in pet...

College Station to Vote on ROO in Special Meeting Today

The College Station City Council meets Monday at 4 p.m. at city hall to consider a Restricted Occupancy Overlay (ROO). The ordinance would allow single-family...

College Station Plans on Borrowing Additional $62 Million Without Taxpayer Vote

The College Station City Council voted to begin the process of issuing $62 million in certificates of obligations for capital projects. The...

Brazos Valley Hospitalizations Continue to Decline After Mask Order Rescinded

Texas Governor Greg Abbott issued Executive Order GA-34 on March 2, 2021, and the order went into effect on March 10, 2021....

Gonna blow some minds, but Democrats want the federal government to regulate more things. This time, it’s Bitcoin and other cryptocurrencies, and the one calling for action is none other than the low-rent Bernie Sanders herself.

Elizabeth Warren wants you to know that Bitcoin is causing climate change and that an all-powerful, completely unaccountable Federal Reserve needs to have control over it.

Cryptocurrencies’ promises to solve the problems in our banking system haven’t come to pass, but Congress and federal regulators can’t hide out and hope crypto will go away. It won’t. It’s time to confront these issues head on. pic.twitter.com/DaYUhM8Z7o

— Elizabeth Warren (@SenWarren) June 9, 2021

There are certainly arguments for and against Bitcoin as a sound investment. My personal opinion is that it’s worth having a few thousand dollars in just in case it continues to go to the moon (it’s down now so it’s a decent time to buy, but the risks are always high). Regardless, that’s not the issue here. Lots of investments are risky, but that doesn’t justify Elizabeth Warren and her cronies having control over them.

Besides, her argument here isn’t that Bitcoin undermines the system or sound investing. Rather, she doesn’t like that Bitcoin is mined, which uses electricity. You know, because the real problem with energy usage is GPUs cranking away mining cryptocurrency. As opposed to, you know, Elizabeth Warren flying around on private jets or the mansion she lives in.

Democrats are always going after the little guy while claiming to protect the little guy, and Bitcoin, at least to a large extent is still a little guy’s game. Sure, big investors have latched on the last few years, but there’s still something grassroots about the entire thing that’s got a very American feel to it.

Yet, there’s a bigger point to be made here. Warren, in her pursuit to regulate cryptocurrency, gives the entire game away. Once again, we see “climate change” being used as an excuse to ban something that Democrats don’t like. In the end, that’s what their movement is actually designed to do. There’s no

Continue reading on RedState

More articles

- Advertisement -

State News

Autopsy Report: Constitutional Carry Finally Passes Finish Line

Legislation removing the requirement for Texas gun owners to hold a permit from the state in order to carry their firearms has finally been...

Rivals Challenge Abbott on Employer Vaccination Mandate

Rivals of Gov. Greg Abbott have spoken out on the situation in a Houston hospital where employees are resisting their employers’ vaccine mandate. The...

Fort Worth Parents Plan Rally Against Critical Race Theory

Last month, a group of Fort Worth parents attended their local school board meeting and passionately spoke to end the use of critical race...

Conflicting Messages as Abbott Signs Bill on Critical Race Theory

A stronger ban on critical race theory is one of the items Texas lawmakers will be tasked with when they return for a special...

Autopsy Report: Taxpayers to Reluctantly Continue to Fund Lobbyists

The 87th legislative session has reached its conclusion and though several bills were filed to ban the practice of taxpayer-funded lobbying, ultimately none of...

Continue reading on RedState