How well do they know bitcoin - US Senators

[Zlantann]

Lol, it could have been worded better and there are surely better ways to point out BTC's censorship resistant and free nature than this, but i think we get it. I want to believe she is talking about people leaving 'dangerous' situations that may prevent them from leaving with their backup, so they have to memorize it, and then transfer it to recommended back up options once they are in better conditions.

That is the only 'excuse' i can make up for her statement. However, to reiterate the obvious: Never memorize your seed phrase, always back it up on paper and stainless steel for maximum security.

She was calling for support for the bill using the wrong phrase. There was a place in her speech when she said, "No banks, no gold bars, no seizure at the border". This shows that she was promoting the bill. I think you are right that her insinuation that twelve words can be memorized might be in an extreme situation.

Memorizing seed phrase without backup is not the standard. This shows that some of these politicians don't do proper research before coming up with such statements. They should know that there words are laws, hence people can be easily deceived by them.

[ColdLava40]

We are happy that US Senate is making huge progress to passing the clarity bill. Shouldn’t we also be concerned by the misinformation that some of the senators are dishing out. For instance, Ms Lummis said.

I won't call them misinformation though, just how it's been placed.

They make it sound like bitcoins is some kind of asset to facilitate activities that regular fiat can't and some how it is far fetched.
Memorizing your seed isn't the problem, remembering them after many years is.

Bitcoin gives us the freedom that the regular fiat can't offer. You can choose to store your keys any means which you are sure you will recognize and remember.

Memorizing should be the last to cross your mind. It poses alot of risk as the human brain often fails and when that happens you could lose access to your coins.

[lovesmayfamilis]

Such a statement will be made by someone who has a figurative idea but has never tried to do anything with Bitcoin on their own. I know a lot of people who say this, saying, "But these are just a few words, just nonsense." Of course, with effort, we can learn our seed phrases if we compare them with those large texts that we study over many years during our education when we receive education, but none of them, apparently, think seriously about those cases of memory loss and the amounts of money that could be lost if some kind of injury or memory loss occurs, since no one is immune from this.

[Luzin]

They are not entirely wrong though
Bitcoin can be memorised though back up is also adviced.
And like I said there's nothing wrong with brain wallet has some advantage over other form

They are not wrong, but they also do not think far ahead. A brain wallet looks very good, but remember that the human mind is limited, so relying on the brain alone is not enough. I agree at least they do not only store it in their brain.

Not how they should be saved.
At least she acknowledged non custodial wallet rather than saying password.

Yes, they provide a clear framework regarding the SEC or CFTC areas. So later these two agencies will not become competing agencies but will clearly have their respective authorities.

[YOSHIE]

We are happy that US Senate is making huge progress to passing the clarity bill. Shouldn’t we also be concerned by the misinformation that some of the senators are dishing out.

As far as I know and what I know about US Senators' understanding of Bitcoin, I am very sure they have varying views on understanding Bitcoin, some are Pro-Bitcoin and some are still skeptical of Bitcoin.

For this reason, we always have to be careful in understanding policies and studying the development of Bitcoin itself, whether it is revisions to the bill and so on.

For this reason, not all senators are Pro-Bitcoin, many are against it and they also doubt Bitcoin, that's a normal thing in real life, so we need to filter and understand the consequences of the things being said, positive and negative.

[Z-tight]

Memorizing seed phrase without backup is not the standard. This shows that some of these politicians don't do proper research before coming up with such statements. They should know that there words are laws, hence people can be easily deceived by them.

I do not think their words are that important in the crypto industry, especially in matters like this. I'd be surprised if someone is looking for safe ways to store their coins and they take recommendation from Senator Lummis, i doubt that will ever happen, lol.

Depending on the politician, their influence is mostly in price movements, like when Donald Trump was manipulating the market and causing the price to move up or down whichever way he chose, but nobody in their right senses would take crypto advice from Donald.

[Faisal2202]

We are happy that US Senate is making huge progress to passing the clarity bill. Shouldn’t we also be concerned by the misinformation that some of the senators are dishing out. For instance, Ms Lummis said.

“Bitcoin provides the woman who wants to get out of her bad and miserable marriage the opportunity to walk away with her money in her head.
It also provides people who are being tortured in other countries the opportunity to walk away with their money in their head because bitcoin can be memorized”

I am worried that the vast majority of her listeners will decide to memorize their seed phrase.
WE need our own clarity bill here to set some statements straight.

I am the first in my bloodline to hear that Bitcoin provides the women who want to get out of their miserable marriage life. I mean how they are getting out of their miserable life? It does not matter if they are men or women because those who know how to trade and give their proper time in learning could be making their lives less miserable but if the senator has said it, he must have seen some real life incidents where women changed their lives by trading in Bitcoin and left their lives which they called miserable.

Anyway, the senator was trying to make a point to girls, as she is also a girl, so you know how politics works when they make such statements to gain the trust of other females. Hmm there was a word for this move I think it was emotional connection or emotional touch something like that to attach directly with their audience. I just saw her picture and for a reason I knew why he made that statement haha I am not being misogynist here.

[Zoomic]

In my opinion, a seed phrase can indeed be memorized. After all, it's just a sequence of 12 English words. 🙋

Should you limit yourself to this method of storing such incredibly important information? Of course not! However, in some cases, I consider this method of storing a seed phrase optimal. And in this regard, Senator Lummis is absolutely right. 💁

Lummis was theoretically right but practically wrong.

Seed phrase can be memorized in short a situation that she described. Like someone tortured in another country and about to be deported and the country wants the seize all their money. The person could just memorize their seed phrase for a few days. When they get back to their original country, they can write their seed phrase down.

You are correct and also Lummis is correct that seed phrase can be memorized but it is not advisable because the memory can fail.

[Majestic-milf]

 It's not a bad pitch she put forward but it's not safe. Although she never made it mandatory that everyone should memorize their seed phrases, she was just saying something that will make her seem knowledgeable about Bitcoin. The thing with most of these politicians is that they try to keep up with the latest trends, anything that will win the hearts of their constituents is fine with them.
Lummis may have campaigned for cryptocurrencies and Bitcoin especially in the past but still, take the words of a politician with a pinch of salt.

[redemption554]

I'm sure there some there one genuinely knows about bitcoin and crypto in general and would like to make progress to the thing in general but we also know the other types, mainly the grifters etc

[Hamza2424]

“Bitcoin provides the woman who wants to get out of her bad and miserable marriage the opportunity to walk away with her money in her head.
It also provides people who are being tortured in other countries the opportunity to walk away with their money in their head because bitcoin can be memorized”

Haha I did hear that girls have a strong memory but never thought they could have said the same thing for the rest of them especially when it comes to remembering some words which are too random and not easy to keep in mind. These senators know nothing and still they are making these statements like they have been in the crypto industry for the last decade haha.

The statement she made, I don't know why she said such a thing, because it seems like such an intense kind of situation like some place where a girl is stuck due to some pressure by a person forcing her and keeping her locked and she could flee the place by remembering the words in her mind alone haha, seems like a rug pull scam but it is really a good thing to say because it seems really cool. Like having $1 billion saved in your memory if you could remember those words carefully then it is really a cool thing to say.

[MarryWithBTC]

Memorizing seed phrase without backup is not the standard. This shows that some of these politicians don't do proper research before coming up with such statements. They should know that there words are laws, hence people can be easily deceived by them.

I do not think their words are that important in the crypto industry, especially in matters like this. I'd be surprised if someone is looking for safe ways to store their coins and they take recommendation from Senator Lummis, i doubt that will ever happen, lol.

Depending on the politician, their influence is mostly in price movements, like when Donald Trump was manipulating the market and causing the price to move up or down whichever way he chose, but nobody in their right senses would take crypto advice from Donald.

No, this time people are paying apt attention to US Senators, especially on the issue they are discussing about bit. This says why I brought the issue here. Assuming this statement was made by a random dude or a celebrity, I wouldn't have taken it seriously or brought it here. But for the fact that it was made by a senator in the occasion of Bitcoin clarity bill, it is important that I bring it here.

The people of America are seeking total clarity on bitcoin usage, laws and taxation, so every statement made at this course will be taken seriously by them. So, we expect the best from the pro-bitcoin senators

[Dogedegen]

We are happy that US Senate is making huge progress to passing the clarity bill. Shouldn’t we also be concerned by the misinformation that some of the senators are dishing out. For instance, Ms Lummis said.

“Bitcoin provides the woman who wants to get out of her bad and miserable marriage the opportunity to walk away with her money in her head.
It also provides people who are being tortured in other countries the opportunity to walk away with their money in their head because bitcoin can be memorized”

I am worried that the vast majority of her listeners will decide to memorize their seed phrase.
WE need our own clarity bill here to set some statements straight.

How exactly is this misinformation? Both statements that she has made are true, Bitcoin provides all these opportunities and much more because it can be memorized. That does not mean that you should memorize your seed phrase, but actually this is one method how someone could bypass all capital controls even if they are the strictest ones. Hide all your wealth in Bitcoin, memorize the seed phrase and board a plane. There is no wallet, there is no piece of paper with something written on it, there is nothing. While it is risky as you could misremember, that does not dismiss that this is possible!

To answer your complete question, most politicians do not know anything about the things that they are making laws on. If they did they would not need to have so many aids and assistant. The older they are and the more technology related the concepts are the worse the case is. Most of the current laws everywhere are bad because they are pushed by people who don't even understand what the internet is. How could they possibly make decisions about Bitcoin?

Do not store your recovery seed in your memory, you can forget easily.

This is not what this thread is about.

No, this time people are paying apt attention to US Senators, especially on the issue they are discussing about bit. This says why I brought the issue here. Assuming this statement was made by a random dude or a celebrity, I wouldn't have taken it seriously or brought it here. But for the fact that it was made by a senator in the occasion of Bitcoin clarity bill, it is important that I bring it here.

The people of America are seeking total clarity on bitcoin usage, laws and taxation, so every statement made at this course will be taken seriously by them. So, we expect the best from the pro-bitcoin senators

This issue of politicians is not any worse or better in America, you are just being given good news on what Americans are doing. Do please explain which part of Lummi's statement is wrong? Nowhere in the sentences that you have quoted does she recommend memorizing seed phrases. You have derived meaning from the statements which is not there. What Lummis has said is accurate and quite detailed, there is no error in how it was worded.