Biden-led Democratic party want to “fight climate crisis by cracking down on environmentally wasteful cryptocurrencies” like Bitcoin and Dogecoin.
The democrats are preparing to propose a bill that will ban the trading of what they deem “non-green” and “environmentally wasteful” cryptocurrencies like Bitcoin and Dogecoin. Senator Elizabeth Warren claims Bitcoin is largely responsible for global warming.
Bitcoin and Dogecoin ban on the horizon. Senator Elizabeth Warren made a firm stance against cryptocurrencies, especially Bitcoin, in a Zoom call on June 10th saying that it poses a great threat to the world economy because of “rip-offs, instability, and the extent of which they are used to help criminals with cyber attacks.” Warren then says that cryptocurrency was responsible for the “attack on Colonial Pipeline and JBS.”
Elizabeth Warren also said that cryptocurrency is one of the main culprits when it comes to the “climate crisis” exclaiming that we need to crack down on “environmentally wasteful cryptocurrencies” like Bitcoin and that “now is the time to do it [ban Bitcoin].”
Warren said that Bitcoin, and other “non-green” cryptocurrencies pose an “adverse impact” on the environment because of the “computer activity used to mint many of these digital currencies.”
Warren favours China coin over Bitcoin.
The US senator then goes on to make baseless claims about Bitcoin saying that mining cryptocurrencies “consumes more energy than entire countries” adding that “it is projected to consume as much energy as all the data-centres in the whole world this year.”
“One Bitcoin transaction — a single purchase sale, or transfer — uses the same amount of electricity as the typical American household uses in more than one month,” Warren claimed.
Bitcoin requires so much computing activity that it eats up more energy than entire countries. One of the easiest and least disruptive things we can do to fight the #ClimateCrisis is to crack down on environmentally wasteful cryptocurrencies. pic.twitter.com/derGr1bjuq— Elizabeth Warren (@SenWarren) June 9, 2021
Warren then alludes that a better alternative to Bitcoin is China’s centralised Yuan Coin declaring that the federal reserve needs to make their own heavily regulated and centralised digital currency to combat “climate crisis”, strongly hinting at a ban.
The Chinese Communist Party made a similar statement before banning Bitcoin due to “climate crisis” concerns. They also sad that banning the cryptocurrency would “curb money laundering”. They did this ahead of launching their very own, highly regulated and centralised, cryptocurrency Yuan Coin which has been praised as “green friendly” by the mainstream media.
YouTube calls Bitcoin/Dogecoin “dangerous”.
YouTube already seem to be cracking down on cryptocurrency after hundreds of news channels that exclusively cover digital currencies have been instantly and permanently banned from the platform. Even content creators who merely express their opinions on either Dogecoin or Bitcoin have received strikes for “dangerous or harmful content.”
People who appealed their YouTube bans were told that the action was final and that Bitcoind and Dogecoin is an “illegal good and services” by TeamYouTube staff. Even to this day, their channels have not been restored. Perhaps the big tech conglomerate jumped the gun on the impending cryptocurrency ban.
This could be because Google is apart of the World Business Counsel for Sustainable Development (WBCSD), a counsel that is based in Geneva, Switzerland organisation that presents itself as “a board of professionals” on climate change and sustainable energy.
In October 2020 the WBCSD published an article warning people of a forthcoming “climate lockdown”.
Digital currency can leak to “climate lockdown”.
The article reads: “Many think of the climate crisis as distinct from the health and economic crises caused by the pandemic. But the three crises – and their solutions – are interconnected.” […] “The climate crisis is also a public-health crisis. Global warming will cause drinking water to degrade and enable pollution-linked respiratory diseases to thrive. According to some projections, 3.5 billion people globally will live in unbearable heat by 2070.”
The article warns that if we do not impose “extreme energy-saving measures” and “do capitalism differently” that “in the near future, the world may need to resort to lockdowns again – this time to tackle a climate emergency.”
Now that Elizabeth Warren has taken a great interest in Bitcoin and has blamed it for being a primary cause for the “climate crisis” which may result in a lockdown if it isn’t regulated and centralised it is very likely that WBCSD have taken notes.
Many are opposed the bill and are slamming Elizabeth Warren for her knowledge on cryptocurrency. Others believe this is a direct attack on the middle and lower class.
Founder and CEO of MicroStrategies responded to Warren on Twitter saying, “We finally have the technology with Bitcoin to empower billions of poor and working class people with property rights, economic security, and freedom from financial repression by the state & institutions. The fact that we use electricity to do this should be the least of our concerns.”
Another followed up saying, “People in power don’t actually want the poor and middle class to have freedom. They want the systems in power to remain in power.”
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The 71-year-old US Senator from Massachusetts plans to propose a Democrat backed bill to the Senate that will ban American owned crypto exchanges from buying and selling Bitcoin and Dogecoin. She will likely site the WBCSD article and warn that if immediate action is not taken that we may see a “climate lockdown”.