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29394861 No.29394861 [Reply] [Original]

>kills crypto

https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html

However, Yellen said there remain important questions about legitimacy and stability.

>“I don’t think that bitcoin … is widely used as a transaction mechanism,” she told CNBC’s Andrew Ross Sorkin at the New York Times’ “DealBook” conference. “To the extent it is used I fear it’s 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.”

>> No.29395069

>>29394861
Well, if it’s for the environment we’ll have to stop it.

>> No.29395321

>>29394861
she's basically shilling ETH. bitcoin will always be the silk road coin and since it will always be proof of work, the mining problem will only get worse. she's flipping BTC with ETH

>> No.29395348
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29395348

Just keep buying, see ya in 10-20 yrs!

Discounts are always welcomed

>> No.29395414

>>29394861
She's 100% correct, no one is using bitcoin. All that energy wasted on nothing!

>> No.29395444

Fiat is used for illicit transactions too. Why do these fucking boomers pretend like that is exclusive to crypto?

>> No.29395463

She will buy the dip

>> No.29395551

>>29395414
But everybody is using monero. Its the only coin with real use case.

>> No.29395612

>>29394861
why do jews look like this?

>> No.29395667

>>29395321
I use monero to hedge bitcoin, and cardano to hedge ethereum.
Smart contracts are not really that important, since they are used most for scams. Adoption as a currency might be a real case with monero and later with litecoin and cardano.

>> No.29395697

Is it time to buy link?

>> No.29395735

>>29395414
>no one is using bitcoin
not true. I use it to make money kek

>> No.29395766

Muh environment is the new coordinated Globalist talking point. And they say this with a straight face while pushing full conversion to electric vehicles. I guess the electricity that flows into car batteries is the good kind, while the electricity flowing into PCs is the bad kind. How the grid can dynamically route this electricity is a miracle.

>> No.29395948

>>29395444
It's all obvious bullshit.
It's just a quote that the media will use to spread fear among normies.
Their real butthurt is that they can't manipulate the quantity of Bitcoin.
Jews have been doing this forever and ever: they used to shave the edges of gold coins to fucking steal....but have had an easier time of manipulating the currency since the Fed existed and we went off gold.

>> No.29396050

>>29394861
DAILY REMINDER:

SBF from FTX was the Biden campaign's 2nd highest donor.

This is what your FTX fees paid for.

>> No.29396127

>>29394861
>normies whining about crypto wasting electricity
>meanwhile the broader kiked economy requires hundreds of millions of wagies to commute to the wage cage every day, wasting an incredible amount of energy
>US uses 9 million barrels of oil for personal transportation alone

the sooner we round up all jews and burn them alive, the sooner we will be free.

>> No.29396171

>>29396050
This is bullish for crypto tho

>> No.29396174

>>29395667
>https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html
i think LTC has a better chance to be used for real world payments than XMR but I hold both (Monero for privacy)

>> No.29396207

>>29395321
>the silk road coin
thats monero anon, the silk road news is before bitcoin got big and most normoids who know about bitcoin now dont know about the silk road stuff back in 2014

>> No.29396236

>>29395766
>Antiscience
Let me finish the combo.
>Anti-vax?
>Anti-Semitic?

>> No.29396277

>>29396207
we're not talking about normies, this is what yellen knows bitcoin as

>> No.29396337

>>29394861
Why do kikes permanently have a evil grin on their face, i swear they are demonic...even when they talk about the 6 gorillion its done with this insidious grin

>> No.29396387
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29396387

>>29394861
There can only be 1 (One) and you know it.

>> No.29396413

WOW BASED

BUT HEY TRUMP SAID HE WAS GONNA TAX SHITCOINS SO HE WAS WORSE RIGHT? IT SURE IS GREAT THAT DEMOCRATS WON AND IMMEDIATELY STARTED TRYING TO BAN BTC PURELY BECAUSE REPUBLICANS WEREN'T TOTALLY HOSTILE TO IT.

BUT REALLY IF YOU CAME IN HERE FROM RED DIT AND SPEND TIME SHILLING FOR BIDEN THEN FUCK YOU, GO BACK BEFORE SOMEONE FINDS YOU AND MINECRAFTS YOU

>fucking bullmarket ruined by redditors

>> No.29396431
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29396431

>>29396337

>> No.29396485

>>29394861
>Retarded boomerino still thinks it's supposed to be a currency
Why are they like this? Even JP Morgan who were previously ultra bearish on BTC has acknowledged that it has turned into an inflationary hedge on par with gold.

The reason people hold BTC today is not the same reason people held BTC in 2013. People don't think of it as a currency anymore. But an asset class to protect their money against reckless moneyprinting.

>> No.29396520

Do these ‘people’ just want the US to lose to China? The only chance the US has at maintaining global dominance is going heavy into crypto.

>> No.29396585
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29396585

>>29396337

>> No.29396711

>>29396520
>Do these ‘people’ just want the US to lose to China?
Unironically yes. There's a reason (((they))) rigged the election against the only world leader who didn't cuck to China in favor of Beijing Biden.

>> No.29396750

>>29396236
good morning, Tel Aviv!

>> No.29396859

>>29396520
>Do these ‘people’ just want the US to lose to China?
yes
lol they are literally in china's pockets
US politicians are all traitors

>> No.29396863

>>29396711
lol you were sold out long ago. there is no United States. just North American Free Trade Area.
Capitalists won WWII with their zio-buddies. millions of middle class, family wage careers have been allowed to move to mexico and china.
that's why you're supposed to be an independent woman or gay,
so that you don't demand a family-wage.

>> No.29397020
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29397020

>>29394861
>I propose we use infant foreskins for moniez
>schlop
>schlop
>schlop
t.inbred yellen

>> No.29397029
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29397029

jews are literally horrified of crypto

>> No.29397193

>Dont use bitcoin goykm. We will soon release fedcoin, which will be much better for the environment! and as an added bonus it won't be decentralized, so we can help you if you make any mistakes!

>> No.29397211
File: 91 KB, 1280x720, kikesnbabbycocks.jpg [View same] [iqdb] [saucenao] [google]
29397211

All kikes are inbred pedophiles

>> No.29397472

>>29395766
Oh yeah imagine using electricity for cars when you can use the electricity to power a ponzi scheme. Exactly the same value and use right

>> No.29397603

>>29397472
Imagine using oil to send troops around the world to kill mud people and force them to transact with your American facepaper. Very efficient indeed!

>> No.29397687

>>29397603
I'm not american and if you would use your brain you would understand that my point is that electricity for cars instead of oil is a good thing

>> No.29397779
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29397779

Media is trying to shape Bitcoin into the next Trump. Therefore we must establish that being against Bitcoin means you are a Trump supporter.

>> No.29397799

>>29397687
It doesn't matter if you're not American, Janet yellen is American and thats what the thread is about.

>> No.29397820

>>29397687
90% of electricity is generated by burning oil.
you're ignorant.

>> No.29397835

>>29397779
based

>> No.29397918

>>29397779
>we

>> No.29397952

>>29397472
This is our Globalist future. Someone with a big nose deciding what is and is not a "good use" of electricity.

>> No.29398021

>>29396387
>haribo
those will give ya the megashits

>> No.29398036

>>29397029
Imagine you have a plan in motion to enslave the human race over thousands of years and then this random technology appears and threatens absolutely everything

>> No.29398037

>>29397603
Comparing American wars to electric car production is beyond retarded.

>> No.29398052

They're gonna use muh environment to kill BTC, PoW and anything else decentralized.

>> No.29398130

>>29397799
Yeah but I responded to someone implying someone wanting to push for electric cars would be a hypocrite if they thought the impact bitcoin has on the environment because of electricity was bad, that's not just about america.

>> No.29398188

>>29397952
PoW is a massive waste of electricity for something so speculative in nature.

>> No.29398222

>>29398037
American wars are necessary to prop up the value of its failing fake dollars. So it must be taken into account as part of the American financial system.

>> No.29398227

>>29394861
Get fucked coiners. You should have listened to Schiff. He was trying to warn you but you didn't listen.

>> No.29398230
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29398230

>>29394861
>It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering
*blocks your path*

>> No.29398254

>>29397820
37% in the US and 31% in the world but feel free to remain ignorant

>> No.29398316

>>29398188
don't mine it then bitch

>> No.29398315

>>29398188
it’s a “waste” because you dont like it and want to ban it, because you’re an evil piece of shit who wants to control everything. fuck off

>> No.29398335

>>29394861
Illicit finance just means Jews aren’t making their fair share (which is at least 50%)

>> No.29398356

>>29398188
The operators are paying for the electricity. There is no room for value judgement of ultimate use.

>> No.29398421
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29398421

If you replaced bitcoins with jellybeans would they still be taxed?

>> No.29398488
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29398488

>>29394861
>“I don’t think that bitcoin … is widely used as a transaction mechanism,”
>and the amount of energy that’s consumed in processing those transactions is staggering.”
>t. United States Secretary of the Treasury

>> No.29398504

>>29398315
>>29398316
>>29398356
Your BTC is literally fucking with peoples lives. It's all powered by dirty chink coal too.

https://www.datacenterdynamics.com/en/news/iran-blames-blackouts-bitcoin-mining-facilities-true-cause-may-be-systemic-issues/

>> No.29398540
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29398540

>>29395321
>ETH
the absolute state of desperate mETH heads

>> No.29398582

>>29395735
based

>> No.29398603

>>29394861
> illicit finance
oy vey we cant let goyim have finance and process transactions without our fees

>> No.29398605

>>29398052
PoW actually is a waste when you can use PoS and its variants. The only value in PoW is using mining to directly acquire the coins without middlemen.

>> No.29398675

>>29398504
yeah I’m sure iran of all places cares more about a blackout than oppressive permanent hegemony of the usd

>> No.29398705

Fighting Global warming comes before your magic internet coins, sorry. Bitcoin will have a carbon tax by EOY, which every investor and miner will have to pay.

>> No.29398716

>>29398488
Is she the secretary of energy now?

>> No.29398726

>>29395444
>Fiat is used for illicit transactions too. Why do these fucking boomers pretend like that is exclusive to crypto?
Well, if I had to, I'd argue that fiat is used to pay for groceries, trips to the Zoo, hairbows for little girls. Graph it out on a pie chart, and the overwhelming use of fiat is legitimate. Yes, gambling, narcotics, illegal weapons all have a slice, but they are small by comparison.
Bitcoin's main use is as a trading pair for even less used shitcoins. That's the largest slice in the pie, then the next largest is the illicit transactions slice. Then there's a couple of tincy slivers labled "porn" and "gambling". No Groceries. No Zoo. No hairbows.

>> No.29398788 [DELETED] 
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29398788

>>29398504
>Forcing the American dollar on the entire at gunpoint world doesn't fuck with peoples lives.

>> No.29398920

>>29396127
>implying bitcoin produces anything of value

>> No.29398995

>>29398920
It produces freedom from banking enslavement. I consider that extremely valuable.

>> No.29399060

>>29398675
>>29398788
All the PoW electricity is wasted so perhaps a million people can speculate on the price of bitcoin? It's retarded.

At least the USD serves a few billion people.

>> No.29399112

>>29396236
i know right isnt it great?

>> No.29399133

>>29395948
The jews didn't get in on bitcoin early, and they failed to buy in late. Now they'd rather kill it than try to replicate the generations-long infiltration process they did with the Fed.
That's why we need to make crypto stick. Far fewer jews. Do not buy or fall for any jew coins. They'll try to pump one with news and huge investment money.

>> No.29399157

>>29398995
Cartelized Chinese mining is not escaping anything. It creates more future problems.

>> No.29399187

>>29399060
>At least the USD serves a few billion people.

youre literally a paid shill

>> No.29399234

You will own nothing and like it. It’s necessary to save the world.

>> No.29399300
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29399300

>>29394861
she's right unironically

>> No.29399319

>>29399187
Nope. I've been able to use USD in South America, China, Middle East and North Africa. Many people use it.

>> No.29399321

>>29394861
>>29394861
>check early life section on Wikipedia
Of course she's a Jew.

>> No.29399324

okay fine kill boomer coin and let another crypto take its place then.

>> No.29399352

>>29394861
Gradually I began to hate them.

>> No.29399363

>>29394861
>crypto
You mean the China controlled shit coins right?

>> No.29399468

>>29394861
why do they hate innovation

fiat is pretty bad

>> No.29399558
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29399558

>>29394861

>> No.29399578

>The Federal Reserve, where Yellen once served as chair, has studied the issue and discussed the possibility of a new digital currency along with a payments system it expects to roll out over the next several years.

ew. actually lets keep bitcoin up please

>> No.29399579

>>29398504
If they cared about the environment as they said they did, then they'd be pro-nuclear power.

>> No.29399595

>>29399468
>why do they hate innovation
because the innovation is to take their power away

>> No.29399624
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29399624

>>29394861

She is based

>> No.29399661

>>29394861
>>29399060
>>29399300
>>29398504
Why is it so hard for brainlets to comprehend that bitcoin/pow uses exactly the energy needed for it's security and not a single joule is wasted?
It's the most efficient energy to security conversion this world has seen.
Should be obvious to anyone with IQ>room temp

>> No.29399664

>>29399579
Bill Gates is now pro-nuclear so it's probably coming.

>> No.29399696

>>29396520
Fucking retards will post shit like this and completely ignore XRP lmao.

>> No.29399705

>>29394861
Holy fuck that is evil.

>Yes goy stay chained trust the banks goy

I fucking hate the fact that people who are half dead and evil to the bone have power in our society

>> No.29399744

>>29399661
PoW is highly inefficient.

>> No.29399763

>Inefficient
Yes, if it was efficient we would already be @ $500k.
But don't worry yellie boy, we'll get to that by EOY

>> No.29399812

>>29395321
You know what she and all her likes are shilling? CeFi and the very banks and crooks responsible for our pyramid burglar economy

>> No.29399876

>>29399744
Coercing the world to use dollars that it doesn't want to use is highly inefficient, and violent.

>> No.29399895

Did anyone from the NYT sell their wallet just before this story was published?

>> No.29399972

>>29399744
propose a more efficient way to secure a decentralized ledger then, brainlet

>> No.29400058

I heard she bought BNB

>> No.29400104

>>29397211
checked for truth

>> No.29400113

>>29399876
When China eventually surpasses America, you'll be beggining for American hegemony again. There's currently less war and conflict today than ever before.

>> No.29400114
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29400114

>>29399972
we make trumpies mine blocks by hand and abacus

>> No.29400194

>>29394861
>“I don’t think that bitcoin … is widely used as a transaction mechanism,” she told CNBC’s Andrew Ross Sorkin at the New York Times’ “DealBook” conference. “To the extent it is used I fear it’s 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.”
How can one woman be so CORRECT

>> No.29400211

>>29394861
lmao she is basically the 0xmr shill

>> No.29400313

>>29398335
This lol

>> No.29400679
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29400679

>>29399661
The "other money uses just as much energy" is not a good reason to stop looking for alternatives, and thus the criticism is valid.

Fact is that Bitcoin POW uses the computation of hash functions for reason of computing hash functions. It's not too hard to imagine a protocol that can cooridnate any sort of useful computation, even if it's just training a neural network or, fuck, even if it's rendering some digital image. But not pump Watts into a hash function...

The fact that old ways to do things can be argued to be just as costly is not a good counterargument to "Bitcoin wastes energy"

>> No.29400786
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29400786

>>29400211
Was literally going to say this

>> No.29400869

>>29400679
>he doesn't understand the economic, computational and game theoretic reasoning behind choosing hash inversion as the mechanism of mining
ngmi

>> No.29400904
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29400904

>>29400114
Approved

>> No.29400917

>>29400679
>The "other money uses just as much energy" is not a good reason to stop looking for alternatives, and thus the criticism is valid.

Bitcoin isnt trying to solve the use of energy, its trying to solve the issue of predatory finance.

Pointing out that it uses less energy than the predatory system is a perfectly valid response to the criticism that it uses too much energy.

>> No.29400940

>>29395667
boomer investor

>if you haven't made it already, then you're ngmi

>> No.29401023

>>29396050
kek

>assuming biden is in charge of anything
>assuming they give a fuck if they kill a crypto project

>> No.29401032

>>29397918
You can always go back to R*ddit if you don't want to be part of us

>> No.29401069

>>29396236
Go ahead and get the shot Anon, The billionaires behind moderna surely has your best interest in mind.

>> No.29401140

>>29397779
you assume I care.

>> No.29401171
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29401171

>>29394861
The average penny silver stock went up 150x when silver merely doubled in the '60s

COMEX default imminent

Get out of crypto, buy silver stocks for the real moonshot.

>> No.29401670

>>29400869
I understand the mechanism perfectly fine - in fact I've implemented SHA2 in various languages.
I still want a better protocol that doesn't waste energy. That's more environmentally friendly than Bitcoin. "Other people make bad things too" is no attitude.

>> No.29402211

>>29401670
It doesn't waste energy you retard. There is no other mechanism which allows for
a) cheap checks
b) computational hardness
c) scalability
Additionally, the energy requirements give it inherent value while adding an actual physical economic barrier of entry which allows for strong security guarantees and game theoretic guarantees with regards to mining.

>> No.29402215

>>29401670
There is no decentralized solution that doesn't involve PoW. The harm being done by predatory banking is far greater than the harm being done by PoW energy usage and we are not going to wait around for the pie in the sky green energy solution.

>> No.29402333

>>29400679
>>29401670
You clearly do not understand the mechanism of proof of work. Nobody was arguing legacy financial systems waste energy as an argument (as if they would be compeltely replaced by bitcoin).

Cannot compare energy used for centralised databases (that require trust which actually leads to pretty expensive military) to a trustless consensus algorithm. Bitcoin in itself is inherently efficient.

The only inefficiency would be using outdated mining hardware which has not state of the art efficiency, but you are financially disincentivized to use that.

>> No.29402388

>>29398920
>implying 123 million nigger cattle debtslaves commuting 26 minutes each way on average in the jewnited states of nigmerica to push boxes around a warehouse, serve burgers, shuffle papers in an office, etc. for the sole purpose of enriching jews is anything of value

>> No.29403487

>>29394861
>the amount of energy that’s consumed
Start making solar panels on buildings mandatory dumb bitch.

>> No.29403530
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29403530

>>29401670
dude, just stfu. You are subjectively interpreting the value of energy used to hash pof algos. Regardless of your kvetching, the market clearly says that it isn't wasted energy. "USAGE" as yellen is seeing it is measured how, exactly? So much of crypto usage is obfuscated from this type of visibility. In a way she's right about BTC being an ineffective medium for transacting, but that doesn't mean that there aren't people using other cryptos for such things. She literally has no idea what she's talking about... and neither do you.

>> No.29403940

>>29403487
Typical Bit-Tard..."Hurr Durr Change the entirety of the world for me and my fucked up number-token"...

>> No.29404221

>>29399972
Ripple protocol consensus mechanism

>> No.29404326

>>29398920
What does a dollar bill produce? How is it any different?

>> No.29404327

>>29402211
>There is no other mechanism which allows for
>>29402215
>There is no decentralized solution that doesn't involve PoW

I don't deny that no such mechanism is known

>>29402333
>Nobody was arguing legacy financial systems waste energy as an argument
Of course, this is a common talking point

>>29403530
>the market clearly says that it isn't wasted energy
Absolute kek

>> No.29404349

>>29394861
I really don't see why the cartels or other businesses wouldn't just off these people

>> No.29404865

>>29397687
This fucking fool thinks electricity has no carbon footprint.

>> No.29405089

>>29396520
Why do you think this is the case?

>> No.29405302

>>29394861
crypto can be run 100% solar in the future, the same cannot be said for any fiat currency. the end game is a solar powered bitcoin fee market.

the current day mining race is just how we get there.

reminder the last bitcoin will be mined in 2142. none of us will live to see bitcoin's final form. you are still EARLY.

>> No.29405990

>>29404221
decentralised pls

>> No.29406699

>>29400058
Based

>> No.29406798

>>29394861
So she just bought a bag of XLM, then.

>> No.29406930

>>29398995
How does it do that?

>> No.29407086

she is Yellen at bitcoin again!!! oh nooooo! what we gonna do now? is she fudding to accooooomulate?

>> No.29407182

>>29405302
>Fiat cannot

Of course it can retard most transactions are electronic now

>> No.29407274

>>29394861

Does this old Jew cunt know what the Lightning network is...when are boomers dying seriously

>> No.29407589

maybe we should all put a few satoshi in a fund and hire her as a speaker and pay her in btc, maybe she ll change her mind?

>> No.29407694
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29407694

It’s over

>> No.29407867

>>29407694
no
buy XLM

>> No.29408221

>>29399579
There are days in which I lie back and dream that Bitcoin frees the people from CeFi but prompts the world into mass adoption of nuclear power thus saving the environment as well. Then I have to get out of my car and get to work.

>> No.29408470

>>29399133
>They'll try to pump one with news and huge investment money.
lol, i think this is hashgraph, i'm going to dump my bags on them, they can't keep getting away with it

>> No.29408493

>>29395321
You do realize how high ETH fees are, right?

>> No.29408638

high fees on any blockchain is a temporary occurrence that happens every single year. right now, ETH fees happen to be as high as BTC fees

>> No.29408663

>>29404349
The cartels are criminals already. Why would they care how Bitcoin is regulated?

>> No.29408801
File: 69 KB, 680x324, ws.png [View same] [iqdb] [saucenao] [google]
29408801

Only going to say this once. Globohomo is bullish on Nano.

>> No.29409407

>>29408801
Based Nanobro

>> No.29410445
File: 928 KB, 1020x859, 1597843219894.png [View same] [iqdb] [saucenao] [google]
29410445

>>29394861
Whatever (((they))) are against is inevitably worthwhile.

>> No.29410581

>>29408470
why hashgraph? seems ok to me, explain? im not even seeing it pumped anywhere

>> No.29412159

Ethereum Proof-of-Stake fixes this.

>> No.29413284

i hope this woman suffers horribly before death, before inevitable reincarnation into thousands of repeated jeet and starving niglet lives