In the field of digital currency, Bitcoin has always attracted much attention. Recently, a statement by a US senator has once again put Bitcoin on the cusp of the storm. He said that Bitcoin can vote with its feet, calling on people not to create a hostile atmosphere, but to discuss rationally. This statement has triggered heated discussions from all walks of life. Let us explore this topic in depth.

As an encrypted digital currency, Bitcoin has been controversial since its birth. Some people regard it as a symbol of financial revolution and believe that its decentralized nature can change the traditional financial system; while others are worried about its violent volatility and difficulty in regulation. The statement of the US senator has added new sparks to this debate.

First, let's review the development of Bitcoin. Since the birth of Bitcoin in 2009, its price has experienced several ups and downs, and it was once considered a representative of virtual currency. However, in recent years, with the booming cryptocurrency market, Bitcoin's status has gradually risen and become the focus of global investors. Its high market value is staggering, and regulators have begun to re-examine this field.

The remarks of the US senator undoubtedly gave Bitcoin supporters a shot in the arm. He mentioned the idea of "voting with your feet", which is essentially a call for people to express their attitude towards Bitcoin through practical actions. The logic behind this statement is that the market is the best judge, and only products and concepts that can stand the test of the market can survive. This has once again triggered thinking about the true value of Bitcoin.

However, it is undeniable that there are various problems and challenges in the Bitcoin market. First, its price fluctuates greatly and the investment risk is extremely high; second, insufficient supervision makes it easy to be used for illegal activities; third, huge energy consumption has caused environmental disputes. We need to look at these problems rationally, rather than simply magnifying or ignoring them.

People have different opinions on the future development of Bitcoin. Some people believe that Bitcoin will become the cornerstone of the future digital economy and promote changes in the financial system; while others worry that its bubble will eventually burst and bring huge losses to investors. In any case, we should treat it calmly, discuss it rationally, and find a suitable path for supervision and development.

In this digital age, Bitcoin is undoubtedly an eye-catching topic. The remarks of the US senator have brought us new thinking and made us realize that discussions in this field need to be more rational and objective. I hope that more experts, scholars, regulators and investors will join in the future to jointly promote the development of the digital currency field and inject new vitality into the global economy.

Finally, let us look forward to the future development of Bitcoin, and hope to find the best solution in rational discussion, so that the new digital currency can bring more benefits to human society. May we keep an open mind and meet the challenges and opportunities of the future. Bitcoin, let us witness its bright future together!

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120BTC.com: On Friday (26), the Chairman of the Federal Reserve, Powell, announced a clear signal of continuing to raise interest rates in a tough manner. Bitcoin fell 8% in 6 hours and broke through $20,000. The market is also worried about the US regulation of cryptocurrencies, but there are still many federal representatives in the United States who support the development of cryptocurrencies.

In addition to announcing that she has been holding Bitcoin since 2013 after her election, US Republican Senator Cythia Lummis has also promoted many bills on cryptocurrency and blockchain. Yesterday (28), Lummis participated in the "CoinStories" Podcast hosted by well-known journalist Natalie Brunell and talked about Bitcoin and economics. Among them, Lummis said: Bitcoin can vote with its feet (express its attitude with actions), Bitcoiners can go anywhere, let us not create a hostile atmosphere towards it.

Cythia Lummis's words can be interpreted as people and corporate entities with a large number of Bitcoins may move to other countries that are more friendly to Bitcoin due to the tightening or taxation of US policies.

For example, the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) are still arguing over who should have jurisdiction over cryptocurrencies, and the SEC chairman has repeatedly said that "except for Bitcoin, most cryptocurrencies are securities." Cythia Lummis had previously publicly stated that Bitcoin and Ethereum are undoubtedly commodities. 

In addition to defining Bitcoin as an "electronic commodity," Cythia Lummis previously co-signed an amendment to the Infrastructure Act to exclude blockchain infrastructure providers such as miners, wallet service providers, development engineers, and network validators from the status of "brokers." 

 Long-term pessimism about the U.S. dollar  

As a Bitcoin supporter, Cythia Lummis once again expressed her concerns about the U.S. dollar in a program interview yesterday (28): I am very careful to regard Bitcoin as an asset that the United States needs to cultivate. One of the reasons is that I am very worried that the U.S. dollar will lose value over time. 

"One of the reasons I'm interested in bitcoin as an asset that the U.S. needs to foster is that I'm concerned that the dollar has been depreciating."

Previously, in an interview with Coindesk in 2020, Lummis mentioned that Bitcoin is a scarce asset outside the U.S. dollar whose value may surge: I have seen that the fundamentals of Bitcoin are an inherent scarcity, and I have seen us (the U.S.) print money and circumvent the scarcity principle by printing more and more money, and see the value of the dollar fall as a result. Alternatives to fiat currencies are ready for their prime time.