Wouldn’t it be nice to put your tax dollars to work trying to educate more folks about the pros and cons of the crypto world (for lack of a better term)? One of the main reasons I was drawn to crypto is my concern about the US debt and spending policies. Yet those that want to hold on to the current financial system, including several of my friends, have said that bitcoin is rat poison and its intangible funny money, unlike the mighty dollar that is backed by the Feds gold reserves. I think those days where the dollar was tied to a tangible asset like gold are long gone and a little disingenuous to say the least. I dont claim to be a financial guru by any means, and Im sure there are legit reasons for a government to be concerned about crypto, but I believe we should be free to invest our hard earned coin how we believe is best for us and our families future.
Recently the US Treasury Secretary Janet Yellen has voiced her concerns about the use of bitcoin at a NY times Dealbook conference. She said:
“I don’t think that Bitcoin, I have said this before, is widely used as a transaction mechanism. To the extent it’s used, I fear, often for illicit finance. It’s an extremely inefficient way of conducting transactions. And the amount of energy that’s consumed in processing those transactions is staggering.”
I pulled this quote from an article from the dailyhodl.com that does a great job addressing the Treasure Secretaries concerns and worth a look if you have time.
US Treasury Secretary Has Several Concerns About Bitcoin, Addresses Need for Digital Dollar | The Daily Hodl
I think the Treasure Secretary underscores the need for more information to reach the masses about the current state of crypto, how it’s evolved in the last 5 years and what huge potential the future may hold.