{"id":559114,"date":"2021-06-10T10:37:07","date_gmt":"2021-06-10T14:37:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=559114"},"modified":"2021-06-10T10:37:09","modified_gmt":"2021-06-10T14:37:09","slug":"elizabeth-warren-blames-bitcoin-for-climate-change","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elizabeth-warren-blames-bitcoin-for-climate-change\/","title":{"rendered":"Elizabeth Warren Blames Bitcoin For Climate Change"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Felizabeth-warren-blames-bitcoin-for-climate-change%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=559114&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/Elizabeth-Warren.jpg?w=1200&#038;h=800&#038;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p>Sen. Elizabeth Warren (D-MA) demanded that her fellow federal lawmakers confront the growing use of cryptocurrency on Wednesday and blamed Bitcoin for worsening the \u201cclimate change\u201d crisis.<\/p>\n<p>Speaking to a Senate Banking Subcommittee hearing, Warren, who considers herself a \u201cconsumer advocate\u201d and an opponent of Wall Street banks, <a href=\"https:\/\/www.reuters.com\/technology\/warren-us-government-needs-confront-crypto-threats-head-on-2021-06-09\/\">according to Yahoo News<\/a>, suggested that cryptocurrency is responsible for everything from an increase in international crime to a spike in carbon emissions.<\/p>\n<p>\u201cCryptocurrency has created opportunities to scam investors, assist criminals, and worsen the climate crisis,\u201d Warren said in the hearing. \u201cThe threats posed by crypto show that Congress and federal regulators can\u2019t continue to hide out, hoping that crypto will go away. It won\u2019t. It\u2019s time to confront these issues head-on.\u201d<\/p>\n<p>In fact, Warren suggested later on social media that \u201cone of the easiest and least disruptive things\u201d federal legislators can do to curb the \u201cclimate crisis\u201d is to take action against \u201cenvironmentally wasteful\u201d cryptocurrencies.<\/p>\n<p>\u201c<span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">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 <\/span><span class=\"r-18u37iz\">#ClimateCrisis<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> is to crack down on environmentally wasteful cryptocurrencies,\u201d Warren tweeted, again promoting her idea that mining Bitcoin was somehow more destructive to the environment than traditional banking.<\/span><\/p>\n<p>She repeated the claim again in conversation with Yahoo Finance, telling the outlet\u2019s editor in chief that \u201cwith bitcoin, and with the other cryptocurrencies, I think there\u2019s a real issue about the environmental impact as well, this whole notion of how much energy is consumed just to keep the currency tracking going.\u201d<\/p>\n<p>\u201cYou don\u2019t consume that kind of energy, in order to have money on deposit at a bank or a mutual fund,\u201d Warren continued. \u201cIn that sense, bitcoin is very different, and in the 21st century, we\u2019re becoming a lot more sensitive to the worldwide impacts of the choices we make.\u201d<\/p>\n<p>Warren is pressing for an alternative to cryptocurrency: a Federal Reserve-backed \u201cdigital dollar\u201d that she claims could make banking easier for low-income Americans and those without access to traditional banking structures. Republicans and other critics of the current Federal Reserve-backed banking system expressed serious skepticism of what appears to be a pseudo-cryptocurrency backed by a world government.<\/p>\n<p>Sen. Pat Toomey (R-PA), told Warren flat-out that \u201cwe don\u2019t need a state-sponsored bank interfering with this successful free-enterprise system.\u201d<\/p>\n<p>Warren\u2019s critics on social media were harsher, pointing out that Warren, a former administrator for the Obama administration\u2019s\u00a0 Troubled Asset Relief Program,<a href=\"https:\/\/twitter.com\/brucefenton\/status\/1402751008531521539\"> cut checks to bankers with massive, million-dollar homes<\/a> that are major energy consumers, and that <a href=\"https:\/\/twitter.com\/BTCsessions\/status\/1402813469599014912\">Warren has used carbon-consuming private jets for travel<\/a>. Others pointed out that there are environmental threats greater than mining Bitcoin that Warren is conveniently ignoring, <a href=\"https:\/\/twitter.com\/danheld\/status\/1402758744291696643\">including Christmas lights<\/a>, computer gaming, and, perhaps most pointed, <a href=\"https:\/\/twitter.com\/AltcoinDailyio\/status\/1402759983146496004\">traditional banking<\/a>.<\/p>\n<p>\u201cCathie Wood of ARK Investment Management says the bitcoin ecosystem consumes less than 10% of the energy compared to the energy consumption of the traditional banking system,\u201d <a href=\"https:\/\/www.nasdaq.com\/articles\/how-much-energy-does-bitcoin-really-consume-2021-05-13\">according to NASDAQ<\/a>. \u201cIt\u2019s also vital to understand that the banking system is extensively large and serves billions of people.\u201d<\/p>\n<p>Twitter commentators also pointed out that Warren suggested Bitcoin itself was the environmental scourge and not Bitcoin mining.<\/p>\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a\u00a0<\/em><a href=\"https:\/\/www.dailywire.com\/subscribe\"><em>member<\/em><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sen. Elizabeth Warren (D-MA) demanded that her fellow federal lawmakers confront the growing use of cryptocurrency on Wednesday and blamed Bitcoin for worsening the \u201cclimate change\u201d crisis.Speaking to a Senate &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2279858,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/Elizabeth-Warren.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Elizabeth Warren Blames Bitcoin For Climate Change","footnotes":""},"categories":[],"tags":[],"class_list":["post-559114","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/Elizabeth-Warren.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Elizabeth Warren Blames Bitcoin For Climate Change","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/559114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=559114"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/559114\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2279858"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=559114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=559114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=559114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}