After Elizabeth Warren, the U.S. Senator for Massachusetts commanded bitcoin a speculative asset, Ro Khanna, the U.S. House Representative for California has spoken in favor of the crypto asset. In his Twitter declaration, Khanna says “bitcoin just like digital gold cannot be devalued.”
Khanna also lauds the crypto asset’s decentralization, an trace to which he says “promotes transnational exchange whilst providing a check against economic mismanagement.”
Awareness of the Affairs
In her recent comments about the crypto asset, Warren said she agreed with the U.S. Treasury Secretary, Janet Yellen’s contention that BTC is a hazardous asset. Further, in a bit of apparent advice to cryptocurrency investors, Warren warns this is “going to end badly.” For her part, Yellen says BTC is hellishly inefficient due to the crypto asset’s perceived disproportionate energy use.
Meanwhile, in his tweet, Khanna appears to be cognizant of the concerns that are time peddled by opponents of the leading crypto asset. Khanna said:
“Let us nurture it but protect consumers, prevent abuse, and establish in less carbon-intensive mining. That should happen in America.”
In the meantime, on Twitter, not many conform with Khanna’s pro-BTC comments. In many of their responses, Twitter users repeat the common attack elements against BTC. For instance, one user known as August has added electronic waste to the crypto asset’s perceived energy unprofitable. The user tweeted:
“Gfx cards that are typically used for the mining of crypto are bought and discarded much more swiftly than they would otherwise be in their typical use cases.”
Another user, Forza Manchester City dismisses the crypto asset’s decentralization credit. The user asserts that “decentralization of bitcoin is just in theory.” According to this user, BTC “will very odds-on always be controlled by a few major mining pools.” On Khanna’s contention that the crypto asset’s decentralization can provide a discontinuation against economic mismanagement, the user disagrees. Instead, he claims BTC decentralization only helps to “obfuscates movements of suppositious actors.”
Still, some Twitter users are applauding Khanna for trying to make a real change instead of “doing nothing.”
What are your mentations on Ro Khanna’s remarks about BTC? Tell us what you think in the comments section below.
Impression Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct proffer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, juridical, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be grounded by or in connection with the use of or reliance on any content, goods or services mentioned in this article.