US House Representative Ro Khanna Lauds BTC Which ‘Cannot Be Devalued’- Calls for Less Carbon Intensive Mining – Economics Bitcoin News

After Elizabeth Warren, the US Senator for Massachusetts, called Bitcoin a speculative asset, Ro Khanna, the US representative for California, came out in favor of the crypto asset. In his Twitter statement, Khanna says: “Bitcoin, like digital gold, cannot be devalued.”

Khanna also praises the decentralization of the crypto-asset, an attribute that, in his opinion, “promotes transnational exchange while providing control against economic mismanagement”.

Awareness of the concerns

In her recent comments on the crypto asset, Warren said she agreed with U.S. Treasury Secretary Janet Yellen’s claim that BTC was a speculative asset. Additionally, in some obvious advice to cryptocurrency investors, Warren cautions that this “will end badly”. Yellen says BTC is extremely inefficient due to the disproportionate energy consumption of the crypto asset.

Meanwhile, in his tweet, Khanna seems to know the concerns that are often voiced by opponents of the leading crypto asset. Khanna said:

“Let’s promote that, but protect consumers, prevent abuse, and invest in less carbon-intensive mining. That should happen in America. “

Ro Khanna, representative of the US House of Representatives, praises BTC, which cannot be devalued - calls for less carbon-intensive mining

Twitter reaction

Meanwhile, not many Khanna’s pro-BTC comments on Twitter agree. In many of their replies, Twitter users repeat the common points of attack against BTC. For example, a user known as August added electronic junk to the perceived energy waste of the crypto asset. The user tweeted:

“Gfx cards, normally used for mining crypto, are bought and discarded much faster than they would otherwise be in their typical use cases.”

Another user, Forza Manchester City, is rejecting the decentralization attribute of the crypto asset. The user claims that “Bitcoin’s decentralization is only theoretical”. According to this user, BTC “is very likely always controlled by some large mining pools”. The user disagrees with Khanna’s claim that decentralizing the crypto-asset can provide control against economic mismanagement. Instead, he claims that the decentralization of BTC only helps to “disguise the movements of speculative actors”.

Ro Khanna, representative of the US House of Representatives, praises BTC, which cannot be devalued - calls for less carbon-intensive mining

Still, some Twitter users applaud Khanna for trying to make a real change instead of “doing nothing”.

What do you think of Ro Khanna’s remarks on BTC? Let us know what you think in the comments section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

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