Senator Elizabeth Warren and goldbug Peter Schiff actually understand crypto really well, they just have to speak badly about it because their careers are on the line.

U.S. Senator Elizabeth Ann Warren, a Democrat from Massachusetts — who has long led the left’s charge to crack down on banks and Wall Street — has emerged as one of the party’s most vocal cryptocurrency critics.

“The idea that they’re somehow a protection or a hedge, I don’t think that’s going to be borne out over time.” She has said.

She announced last Thursday a new bill, the "Digital Asset Sanctions4Compliance Enhancement Act", to block cryptocurrency companies from conducting business with sanctioned companies, warning that Russian leaders and billionaires may use digital currency to evade sanctions imposed after the invasion of Ukraine, even though that has been disproven and besides, any country and sovereign citizen is largely free to use crypto as they see fit.

She has further said “Given the extraordinarily high energy usage and carbon emissions associated with Bitcoin mining, mining operations raise concerns about their impacts on the global environment, local ecosystems, and consumer electricity costs.” - a cherry picked FUD statement completely leaving out the fact that the Bitcoin mining industry pairing up with natural gas and oil companies has arguably beneficial effects for the environment and can lower the carbon emissions from both industries or that Bitcoin mining consumes wasted energy/) or that the Bitcoin Mining Council surveyed 32% of its network and claimed its users were mining with a 67% renewable energy mix.

Similarity, Peter David Schiff, an American stockbroker, who leads SchiffGold; a precious metals dealer specializing in gold and silver bullion, is also a vocal critic of cryptocurrencies. He has said ”Bitcoin probably won’t take off anymore” and ”It’s just a hype machine. … If Bitcoin will still be here in the next 20 to 50 years, it only means more people are gonna lose money.” - He constantly says Bitcoin is going back down to $10,000 and that ”It’s completely useless” even though his predicted patterns have been found to be inaccurate time and time again AND he has literally accepted Bitcoin as payment for his gold company since 2014!! – it’s a good thing his son is a Bitcoiner!

What these two people have in common is that they are politically, economically, and socially incentivized to be against decentralized finance. They are elites demanding laws to be uncritically accepted by lawmakers based only on mystical incantations, unfounded beliefs, non-thoroughly researched claims, and a true lack of understanding about the technology.

Warren works for the American government, literally saying things like “Digital currency from central banks has great promise” & “Crypto is a lousy investment….Unlike, say, the stock market.” Peter Schiff is scared that Bitcoin could (will) take market cap away from gold, a precious metal he has devoted his life to and career supporting.

It’s almost impossible to underestimate the intelligence of these fools, and I’m jealous of the people who haven’t heard about them. They are not crypto vultures; they are what crypto vultures will eat.