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.
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 real evidence to show banning drilling in ANWR or getting rid of Bitcoin will “save” the climate, especially not when China and India continue to produce far, far more carbon (and that’s if you believe man-made climate change is even a real issue).
Rather, climate change is just a political bludgeon, meant to deliver Democrats all their wildest hopes and dreams. They move from one crisis to another to get what they want. More recently, it was the pandemic. Now, it’s back to global warming because they can literally justify just about anything with the claim that the world is going to end if we don’t act. It’s a cynical, manipulative game, and no one should play along.