- “We urge you to resist pressure from digital asset industry financiers, lobbyists and boosters to create a regulatory safe haven for these risky, flawed and unproven digital financial instruments"
- "Crypto-assets have been the vehicle for unsound and highly volatile speculative investment schemes that are being actively promoted to retail investors who may be unable to understand their nature and risk.”
Sounds like at least a few of these people lost money investing in shitcoins and pozni schemes and they now want to put the blame on blockchain and bitcoin.
- The computational power behind blockchain is the equivalent of what one could do in a centralized way with a $100 computer.
This is the problem. We don't want to do it in a centralized way. Also, they contradict their previous statement that blockchain is not decentralized. Why do we need to do something in a centralzied way to be different from blockchain then?
- “We’re essentially wasting millions of dollars worth of equipment because we’ve decided that we don’t trust the banking system.”
Yes, that's the point. The banking system is a scam and the amount of centralized fiat money spent to change it doesn't matter since they can print more and more to fill the gap.