Treasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin poses both to investors and the public. “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 Deal-Book 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.”
Despite the 3 days’ market correction, Bitcoin ($BTC) is back to above 50000 USD/coin mark. Many other coins are on the “Up & Up” too. This is what happens when citizens don’t trust their governments anymore.
