Yellen sounds warning about ‘extremely inefficient’ bitcoin

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Yellen sounds warning about ‘extremely inefficient’ bitcoin

cnbc2021-02-23

KEY POINTS Treasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions. She spoke as the cryptocurrency’s price tumbled in morning...

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Lynny
·2021-02-23
It was never meant to be a transactional currency, rather a stored value asset like gold
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Wallstrtbets
·2021-02-23
Does she really know about bitcoin other than hearsay?
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Pewuf
·2021-02-23
Boomers have no idea
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123321Alex
·2021-02-23
Pls comment on my posts
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- 123321Alex:
  ty
  2021-02-24
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- 123321Alex:
  ty
  2021-02-24
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- EV8:
  ok ??
  2021-02-24
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Fish01
·2021-02-23
No way
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Jocyy
·2021-02-23
Buy
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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYellen sounds warning about ‘extremely inefficient’ bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-23 10:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.\nShe spoke as the cryptocurrency’s price tumbled in morning...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1117484017","content_text":"KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.\nShe spoke as the cryptocurrency’s price tumbled in morning trading, but remained above $53,000.\n\nTreasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin poses both to investors and the public.\nDespite a sharp slide in price to start the week, the cryptocurrency continues to trade above $53,000 as it has received boosts from various sources.Elon Musk’sTesla recently made a substantial purchase and has said it will accept bitcoin for transactions.\nHowever, Yellen said there remain important questions about legitimacy and stability.\n“I don’t think that bitcoin … is widely used as a transaction mechanism,” she told CNBC’s Andrew Ross Sorkin at a New York Times DealBook conference. “To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”\nMining bitcoin requires users to solve complex mathematical equations using high-powered computer setups. 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYellen sounds warning about ‘extremely inefficient’ bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-23 10:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.\nShe spoke as the cryptocurrency’s price tumbled in morning...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1117484017","content_text":"KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.\nShe spoke as the cryptocurrency’s price tumbled in morning trading, but remained above $53,000.\n\nTreasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin poses both to investors and the public.\nDespite a sharp slide in price to start the week, the cryptocurrency continues to trade above $53,000 as it has received boosts from various sources.Elon Musk’sTesla recently made a substantial purchase and has said it will accept bitcoin for transactions.\nHowever, Yellen said there remain important questions about legitimacy and stability.\n“I don’t think that bitcoin … is widely used as a transaction mechanism,” she told CNBC’s Andrew Ross Sorkin at a New York Times DealBook conference. “To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”\nMining bitcoin requires users to solve complex mathematical equations using high-powered computer setups. The electric consumption used in the process leaves an annual carbon footprint equal to the nation of New Zealand, according to Digiconomist.\nIn addition to consumption concerns, bitcoin also is considered to be a tool of those involved in a number of illegal activities because its use is difficult to trace.\nThen there’s volatility, as the cryptocurrency’s price has seen rapid peaks and valleys during its existence.\n“It is a highly speculative asset and you know I think people should be aware it can be extremely volatile and I do worry about potential losses that investors can suffer,” Yellen said.\nVarious government agencies have contemplated the idea of making an alternate digital currency with the hopes that it would open up the global payments system to those who don’t have access.\nThe Federal Reserve, where Yellen once served as chair, has studied the issue and discussed the possibility of a new digital currency along with a payments system it expects to roll out over the next several years.\n“I think it could result in faster, safer and cheaper payments, which I think are important goals,” Yellen said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369212619,"gmtCreate":1614046868631,"gmtModify":1704887298032,"author":{"id":"3571721779055700","authorId":"3571721779055700","name":"Pewuf","avatar":"https://static.tigerbbs.com/e32a69c3279db584e7094742e5e3eea9","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Boomers have no idea","listText":"Boomers have no idea","text":"Boomers have no idea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369212619","repostId":1117484017,"repostType":4,"repost":{"id":"1117484017","pubTimestamp":1614045625,"share":"https://www.laohu8.com/m/news/1117484017?lang=&edition=full","pubTime":"2021-02-23 10:00","market":"fut","language":"en","title":"Yellen sounds warning about ‘extremely inefficient’ bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1117484017","media":"cnbc","summary":"KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficie","content":"<div>\n<p>KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.\nShe spoke as the cryptocurrency’s price tumbled in morning...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”\nMining bitcoin requires users to solve complex mathematical equations using high-powered computer setups. The electric consumption used in the process leaves an annual carbon footprint equal to the nation of New Zealand, according to Digiconomist.\nIn addition to consumption concerns, bitcoin also is considered to be a tool of those involved in a number of illegal activities because its use is difficult to trace.\nThen there’s volatility, as the cryptocurrency’s price has seen rapid peaks and valleys during its existence.\n“It is a highly speculative asset and you know I think people should be aware it can be extremely volatile and I do worry about potential losses that investors can suffer,” Yellen said.\nVarious government agencies have contemplated the idea of making an alternate digital currency with the hopes that it would open up the global payments system to those who don’t have access.\nThe Federal Reserve, where Yellen once served as chair, has studied the issue and discussed the possibility of a new digital currency along with a payments system it expects to roll out over the next several years.\n“I think it could result in faster, safer and cheaper payments, which I think are important goals,” Yellen said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369211278,"gmtCreate":1614046714494,"gmtModify":1704887295236,"author":{"id":"3571791273839540","authorId":"3571791273839540","name":"123321Alex","avatar":"https://static.tigerbbs.com/807b76e84e44c6640b1aaa50fcb19a44","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":8,"crmLevelSwitch":0},"htmlText":"Pls comment on my posts","listText":"Pls comment on my posts","text":"Pls comment on my posts","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/369211278","repostId":1117484017,"repostType":4,"repost":{"id":"1117484017","pubTimestamp":1614045625,"share":"https://www.laohu8.com/m/news/1117484017?lang=&edition=full","pubTime":"2021-02-23 10:00","market":"fut","language":"en","title":"Yellen sounds warning about ‘extremely inefficient’ bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1117484017","media":"cnbc","summary":"KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficie","content":"<div>\n<p>KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.\nShe spoke as the cryptocurrency’s price tumbled in morning...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYellen sounds warning about ‘extremely inefficient’ bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-23 10:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.\nShe spoke as the cryptocurrency’s price tumbled in morning...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1117484017","content_text":"KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.\nShe spoke as the cryptocurrency’s price tumbled in morning trading, but remained above $53,000.\n\nTreasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin poses both to investors and the public.\nDespite a sharp slide in price to start the week, the cryptocurrency continues to trade above $53,000 as it has received boosts from various sources.Elon Musk’sTesla recently made a substantial purchase and has said it will accept bitcoin for transactions.\nHowever, Yellen said there remain important questions about legitimacy and stability.\n“I don’t think that bitcoin … is widely used as a transaction mechanism,” she told CNBC’s Andrew Ross Sorkin at a New York Times DealBook conference. “To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”\nMining bitcoin requires users to solve complex mathematical equations using high-powered computer setups. The electric consumption used in the process leaves an annual carbon footprint equal to the nation of New Zealand, according to Digiconomist.\nIn addition to consumption concerns, bitcoin also is considered to be a tool of those involved in a number of illegal activities because its use is difficult to trace.\nThen there’s volatility, as the cryptocurrency’s price has seen rapid peaks and valleys during its existence.\n“It is a highly speculative asset and you know I think people should be aware it can be extremely volatile and I do worry about potential losses that investors can suffer,” Yellen said.\nVarious government agencies have contemplated the idea of making an alternate digital currency with the hopes that it would open up the global payments system to those who don’t have access.\nThe Federal Reserve, where Yellen once served as chair, has studied the issue and discussed the possibility of a new digital currency along with a payments system it expects to roll out over the next several years.\n“I think it could result in faster, safer and cheaper payments, which I think are important goals,” Yellen said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3649208,"gmtCreate":1614156820159,"gmtModify":1680778124824,"authorId":3571791273839540,"author":{"id":3571791273839540,"authorId":3571791273839540,"name":"123321Alex","avatar":"https://static.tigerbbs.com/807b76e84e44c6640b1aaa50fcb19a44","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 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Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Yellen sounds warning about ‘extremely inefficient’ bitcoin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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*/\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYellen sounds warning about ‘extremely inefficient’ bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-23 10:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.\nShe spoke as the cryptocurrency’s price tumbled in morning...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1117484017","content_text":"KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.\nShe spoke as the cryptocurrency’s price tumbled in morning trading, but remained above $53,000.\n\nTreasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin poses both to investors and the public.\nDespite a sharp slide in price to start the week, the cryptocurrency continues to trade above $53,000 as it has received boosts from various sources.Elon Musk’sTesla recently made a substantial purchase and has said it will accept bitcoin for transactions.\nHowever, Yellen said there remain important questions about legitimacy and stability.\n“I don’t think that bitcoin … is widely used as a transaction mechanism,” she told CNBC’s Andrew Ross Sorkin at a New York Times DealBook conference. “To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”\nMining bitcoin requires users to solve complex mathematical equations using high-powered computer setups. The electric consumption used in the process leaves an annual carbon footprint equal to the nation of New Zealand, according to Digiconomist.\nIn addition to consumption concerns, bitcoin also is considered to be a tool of those involved in a number of illegal activities because its use is difficult to trace.\nThen there’s volatility, as the cryptocurrency’s price has seen rapid peaks and valleys during its existence.\n“It is a highly speculative asset and you know I think people should be aware it can be extremely volatile and I do worry about potential losses that investors can suffer,” Yellen said.\nVarious government agencies have contemplated the idea of making an alternate digital currency with the hopes that it would open up the global payments system to those who don’t have access.\nThe Federal Reserve, where Yellen once served as chair, has studied the issue and discussed the possibility of a new digital currency along with a payments system it expects to roll out over the next several years.\n“I think it could result in faster, safer and cheaper payments, which I think are important goals,” Yellen said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369231403,"gmtCreate":1614045852002,"gmtModify":1704887280944,"author":{"id":"3550005508353285","authorId":"3550005508353285","name":"Jocyy","avatar":"https://static.tigerbbs.com/b9fde3867edfa7a4de3d2b07f0d64108","vip":1,"crmLevel":4,"crmLevelSwitch":1},"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369231403","repostId":1117484017,"repostType":4,"repost":{"id":"1117484017","pubTimestamp":1614045625,"share":"https://www.laohu8.com/m/news/1117484017?lang=&edition=full","pubTime":"2021-02-23 10:00","market":"fut","language":"en","title":"Yellen sounds warning about ‘extremely inefficient’ bitcoin","url":"https://stock-news.laohu8.com/highlight/detail?id=1117484017","media":"cnbc","summary":"KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficie","content":"<div>\n<p>KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.\nShe spoke as the cryptocurrency’s price tumbled in morning...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYellen sounds warning about ‘extremely inefficient’ bitcoin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-23 10:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.\nShe spoke as the cryptocurrency’s price tumbled in morning...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1117484017","content_text":"KEY POINTS\n\nTreasury Secretary Janet Yellen on Monday warned that bitcoin is an “extremely inefficient” way to conduct monetary transactions.\nShe spoke as the cryptocurrency’s price tumbled in morning trading, but remained above $53,000.\n\nTreasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin poses both to investors and the public.\nDespite a sharp slide in price to start the week, the cryptocurrency continues to trade above $53,000 as it has received boosts from various sources.Elon Musk’sTesla recently made a substantial purchase and has said it will accept bitcoin for transactions.\nHowever, Yellen said there remain important questions about legitimacy and stability.\n“I don’t think that bitcoin … is widely used as a transaction mechanism,” she told CNBC’s Andrew Ross Sorkin at a New York Times DealBook conference. “To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”\nMining bitcoin requires users to solve complex mathematical equations using high-powered computer setups. The electric consumption used in the process leaves an annual carbon footprint equal to the nation of New Zealand, according to Digiconomist.\nIn addition to consumption concerns, bitcoin also is considered to be a tool of those involved in a number of illegal activities because its use is difficult to trace.\nThen there’s volatility, as the cryptocurrency’s price has seen rapid peaks and valleys during its existence.\n“It is a highly speculative asset and you know I think people should be aware it can be extremely volatile and I do worry about potential losses that investors can suffer,” Yellen said.\nVarious government agencies have contemplated the idea of making an alternate digital currency with the hopes that it would open up the global payments system to those who don’t have access.\nThe Federal Reserve, where Yellen once served as chair, has studied the issue and discussed the possibility of a new digital currency along with a payments system it expects to roll out over the next several years.\n“I think it could result in faster, safer and cheaper payments, which I think are important goals,” Yellen said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":28,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}