Do not trust this devil woman, she wants Bitcoin dead

[bbc.reporter]

Janet Yellen does not like bitcoin and the cryptospace, we certainly know this already. However, why has she presently changed her opinion and began telling everyone through her speeches that crypto is transformative technology? I am very skeptical of this. I speculate that there might be a magic trick in the end where something like every American user in the cryptospace cannot sell their coins for fiat might occur hehehe.


Devil woman

Speaking to attendees at an American University event, Yellen highlighted the extreme divergence of perceptions about crypto, saying that’s often the case with “transformative” technology.
“Some proponents speak as if the technology is so radically and beneficially transformative that the government should step back completely and let innovation take its course,” she said. “On the other hand, skeptics see limited, if any, value in this technology and associated products and advocate that the government take a much more restrictive approach.”

Read in full https://www.coindesk.com/policy/2022/04/07/treasury-secretary-janet-yellen-calls-crypto-transformative-in-wide-ranging-speech/

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[franky1]

coindesk is sister company to coinbase. which hates all regulation as it means more work. so there is some bias.

instead of reading coindesks snippits. actually try to read all the quotes that are said

EG
"Regulation should be tech neutral,” Yellen said. Drafting rules for crypto “should be guided by the risks associated with the services provided to households and businesses, not the underlying technology."

many twitter nuts try to convert snippets of certain things and then exaggerate them to mean something else. EG a new draft US law had taken out a 120day  thing in regards to implementing new rules that are not yet law.

twitter idiots read this as if yellen can now implement any rule she likes without a 120 notice
yet the reality is.. before the draft, the SEC could make a proposal law and implement its requires immediately 120days before its voted on.. and then extend it if the vote doesnt happen..
but with the new draft if accepted. taking out this 120day thing. means that they cannot enforce a proposal 120days before its even voted in.

yep the twitter nuts got things the wrong way round. the draft which certain idiots are pretending is bad, actually has benefits. it actually stops the SEC from implementing things at a whim and instead makes them have to only do things within existing, voted in law, seeking guidance from multiple departments if its fair and lawful before doing so

other twitter nuts are pretending that new laws are suggesting that software developers miners and full node users need to KYC each other. yet reality is that is not the case. only SERVICE PROVIDERS(financial brokers(EG exchanges)) need to be regulated and do KYC. not individuals that are not doing financial transfers as a business for a commission/fee

[davis196]

Some proponents speak as if the technology is so radically and beneficially transformative that the government should step back completely and let innovation take its course,” she said.

She doesn't say that crypto is "transformative technology".She says that other people (the hardcore crypto supporters) are saying that crypto is transformative technology.This is a big difference.
I believe that she will always be anti-crypto,just like every central banker around the world.
She's just pretending to be neutral towards it,but that's hypocrisy.

“On the other hand, skeptics see limited, if any, value in this technology and associated products and advocate that the government take a much more restrictive approach.

She isn't even sharing her opinion about crypto,she's just saying what other people think.
This is just another clickbait news article,telling us nothing specific.
It would be great,if the US crypto regulations remain truly neutral,rather than hostile towards blockchain technology and the cryptocurrency industry in general.
The crypto industry should be treated as equal to the fiat financial industry.There shouldn't be any discrimination in the legislation and regulations.

[avikz]

crypto is transformative technology?

This statement is a two edges sword! It could very well be translated into two different meanings. Is it a technology that will transform the financial space for good or for bad??

While we, the community members believe that cryptocurrency is a good technology that can disrupt the current banking based financial system. We have see some examples during Hong Kong crisis and we are seeing it now during Rus-Ukraine war. People are becoming less dependent on banks and more eager to control their own finances through cryptocurrency.

Then, there is government who believes cryptos can disrupt the current banking based financial system and take away the power from their hand to the end user. So they are seeing it as a threat.

So it all depends on which side you are! Janet Yellen is way too small when it comes to cryptospace and its scope. I don't think we need to give a lot of weight to her statement.

[Poker Player]

I do not trust her as a representative of the established power and the fiat system of infinite debt, regardless of the claims she may make about Bitcoin.

In this case, like others we have seen, it is one more of "if you can't beat them join them". The only thing they are trying to do from the public authorities is to tolerate Bitcoin but trying to control it as much as possible with KYC/AML regulations and the collaboration of centralized exchanges.

[pooya87]

Even in the small part you posted, I don't see any signs of her opinion about bitcoin being changed at all!

All she said is "technology" is good. In other words we may soon see the US government issuing a centralized shitcoin called something like cUSD where c stands for cryptocurrency. With US dollar's dominance being threatened and many countries dumping it from their reserves the chances of it is actually pretty high. So there needs to be some groundwork where after years of them spreading FUD about bitcoin they have to start praising the underlying technology as a separate thing so that their own FUD doesn't backfire.

Little do they know that centralized shitcoins are still shitcoins regardless of how much they praise the technology.

[Flexystar]

cryptospace cannot sell their coins for fiat might occur hehehe.

Good God, I hope that never happens. The lady is just confused I guess.  Just like those millions out there who are not able to decide in between whether they should buy it or leave it. Just being rich does not mean they are smart investors, the richness could be hereditary. Lolz. But smartness needs to be obtained.

She is wat far from home when she speaks like that about bitcoin. She is not the first anyways, we have Buffet too. Many millionaires and billionaires say one thing but do another. Could be one of the market manipulation tricks. 

For instance, this lady might have some hidden investment which she wants to grow and that’s why she started making positive news about it. Could be anything from A to Z.

[leea-1334]

Hey even Jamie Dimon lately told everyone, his investors I guess, that Bitcoin and blockchain are real stuff,,, not just made up fantasy internet money. Now this was very different from many years ago.

We have to remember that these rich guys became rich from being wise in investment. No need to trust them, but trust that if they want Bitcoin dead, they will do all they can to defeat it BUT when they realize it is futile eventually they will give in,,, just like Dimon.

[robattfield]

Obviously, when you have grasped the knowledge, the praise/criticism of the field is itself an assessment of their point of view. Personally, I don't like to blame anyone when I myself have not done well. There is no possibility to complain about their opinion. We can listen, but it is our right to apply it. This woman, too, I am not sympathetic to the view of this market being too negative because anything has two sides to it. Don't impose your personal opinion on others.

[Asiska02]

Regarding her opinion about the bitcoin now. She, maybe have seen the future about it and knows what will come of it in the near future. Criticism about bitcoin always fail at the end of the day. They can now see that bitcoin has so much value and can’t fade away just like that because of its decentralised way of operation. Regardless of what she thinks or have in mind about it and others who don’t like it, the bitcoin market is already in safe hands and it won’t fall no matter the pressures mounted on it.

[goldkingcoiner]

Janet Yellen does not like bitcoin and the cryptospace, we certainly know this already. However, why has she presently changed her opinion and began telling everyone through her speeches that crypto is transformative technology? I am very skeptical of this. I speculate that there might be a magic trick in the end where something like every American user in the cryptospace cannot sell their coins for fiat might occur hehehe.


Devil woman

Speaking to attendees at an American University event, Yellen highlighted the extreme divergence of perceptions about crypto, saying that’s often the case with “transformative” technology.
“Some proponents speak as if the technology is so radically and beneficially transformative that the government should step back completely and let innovation take its course,” she said. “On the other hand, skeptics see limited, if any, value in this technology and associated products and advocate that the government take a much more restrictive approach.”

Read in full https://www.coindesk.com/policy/2022/04/07/treasury-secretary-janet-yellen-calls-crypto-transformative-in-wide-ranging-speech/

Any university speaker who is not speaking about research is a clown not worth listening to. Especially in western universities. I say this because the western world has transformed universities into political moral camps and uneducated philosophy gatherings.

A bachelor in science cannot even be compared to something as worthless as economics.

This woman should understand that Bitcoin is a thorn in the eyes of the government and it cannot be removed or controlled. Even if the worlds countries all become like north korea and humane lives become a thing of the past, Bitcoin will still not cease to exist as long as there is a single miner in the world.

[cheezcarls]

She can say whatever she wants about Bitcoin, but the reality is that Bitcoin adoption cannot be stopped. No matter how many negative stuff that we hear about Bitcoin, or saying that “Bitcoin is dead” many times, no one can stop it from getting adopted because it is highly “contagious”. We understand the opinion of others about Bitcoin, it’s just that they aren’t educated or informed enough about Bitcoin while other famous personalities, companies, institutions and crypto-friendly government have understood more than Janet and the other naysayers out there.

[Lucius]

Janet Yellen does not like bitcoin and the cryptospace, we certainly know this already.

It may not be that she has something against Bitcoin, but she simply doesn't understand it or understands it very well, but official policy in the US has always defended the national currency at all costs - why would Janet be different from everyone else?

I speculate that there might be a magic trick in the end where something like every American user in the cryptospace cannot sell their coins for fiat might occur hehehe.

This is nothing new that has not been discussed countless times, and in fact it is very easy to do if the law banning all crypto exchanges in the US is passed, there is no more legal crypto trading. It's not that it will just happen, but as one of the measures that politics has up its sleeve, it should always be taken into account that they can decide on that move.

I generally don't trust politicians, especially those who are known for dirty games, so I'm not too worried about what this woman thinks. Besides, didn't she do a good promotion of Bitcoin when that banner appeared behind her back? 

[BlackHatCoiner]

In other words we may soon see the US government issuing a centralized shitcoin called something like cUSD where c stands for cryptocurrency.

I expect to see Bitcoin recognition if it ever happens. I can't look forward to using Bitcoin, knowing the torment I'm avoiding. Especially when cash, which is yet the most private way to transact, is replaced by such nonsense.

All the black economy will move into cryptos, lol.

Little do they know that centralized shitcoins are still shitcoins regardless of how much they praise the technology.

Also,

Open source means each problem only has to be solved once.

[danadc]

The truth is that the lady, if you have a face to be a bad person, and the sudden change is not because maybe she already creates in a good way in BTC and Crypto, it is because there is always a particular interest, it is getting a good interest participation taking advantage of the boom of all this, the boom of cryptomoneds has been raised in a very good way worldwide, they can no longer say that BTC or Crypto is bad, and governments know very well that they can not go against the cryptomoneds, is a much greater economic technology and stronger than the economy presented today, and this lady clearly knows a lot of information that very few know, for me is to just a simple assembly to start the regulation of BTC and Crypto, for that somehow as good corrupt politician take benefits from it.

In this other information, it also evidences:

“As banks and other traditional financial firms become more involved in digital asset markets, regulatory frameworks will need to appropriately reflect the risks of these new activities,” Yellen said American University on Thursday. “New types of intermediaries, such as digital asset exchanges and other digital native intermediaries, should be subject to appropriate forms of oversight.”

Source: https://www.barrons.com/articles/yellen-crypto-regulation-first-speech-digital-assets-51649328772

[YOSHIE]

I think Janet Yellen is old, today she says Negative tomorrow she says positive about Bitcoin, even though she is currently the US Secretary of the Treasury.

I've seen on CNBC March 22, 2022, about Janet Yellen saying, about the benefits of crypto.

US Treasury Secretary Janet Yellen told CNBC that she recognized the benefits of crypto.

Now he says.

Treasury Secretary Janet Yellen warned that bitcoin was a "highly inefficient" way of conducting monetary transactions.

I believe Janet Yellen's words, cannot be held and have no effect on the development of Bitcoin.
Bottom line: how influential is Janet Yellen, on the world of technology and crypto, I think 0%, I believe Janet Yellen's statement about Bitcoin will disappear like salt in the rain.

[hosseinimr93]

I think Janet Yellen is old, today she says Negative tomorrow she says positive about Bitcoin, even though she is currently the US Secretary of the Treasury.

She has never said anything positive about bitcoin and she will never do so.
There isn't a single mention of bitcoin in her speech. I am sure she doesn't even know how bitcoin works.

She and all other politicians who talk about cryptocurrencies only know that it's new thing and think that they can use this innovation to prevent their national currency from collapsing.
They think they can combine their centralized currency and blockchain (not real blockchain, the blockchain they like) and have a new shape of currency which is still in their full control. They think people will prefer their stable coin to bitcoin. But I don't see any difference between fiat and a stable coin issued by governments.

[NeuroticFish]

Devil woman

You over-inflate horror stories behind whatever she said. She's the secretary of the treasury. Of course that her aim is to protect US Dollar. Of course that her rhetoric will be more against Bitcoin than pro Bitcoin. What you'd expect?! Somehow I don't understand why in 16 posts nobody said it already: her statements and views are almost certainly biased.

All this being said, I too find this statement of her, strangely, more balanced and objective than many others'...


However, I see no reason for freaking out. It doesn't mean that her perception/vision would have changed... Like the saying: just one flower doesn't make it spring.

[Bitstar_coin]

Btc is more than a decade and since the time of it's existence till now there has been countless negative comments from government and none government officials trying to discredit it to no avail.
In that case, I will consider this statement as one of those negative comments on btc that won't hold any effect.
Between, I don't think this is the worst statement that has ever been made about btc, I don't see why it should be given any importance.  @op i think your title is a bit harsh.

[hatshepsut93]

People should stop that praise of CBDC means praise of crypto, because it's usually the opposite - CBDC is governments version of crypto that they want to create as an alternative to both crypto and privately-owned payment networks. The goal of CBDC is more control over finance by the government, which is obviously the opposite of what crypto aims to achieve.

She doesn't say that crypto is "transformative technology".She says that other people (the hardcore crypto supporters) are saying that crypto is transformative technology.This is a big difference.

Sensationalist misrepresenting titles and crypto journalism, name a more iconic duo