Senate Banking Committee Holds Hearing on Crypto

in #bitcoinlast year

I just stumbled upon this today and thought I'd share as it is quite an interesting video to watch.

One person has the opinion: "BitCoin sucks and there is no good that can ever come of it". The other has the opinion "Hey, the future is coming, man. You can't hide from it just cause it's not here, yet".

I found it real interesting to watch

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SPOILER ALERT: This post contains info about the contents of the video



Just to poke some fun at the video...

  1. BitCoin is used EXCLUSIVELY by criminals
    I'm not sure how I feel about this comment. I used it to buy my keyboard and a bottle of Whiskey with the profits I made over a weekend... before loosing 90% of my money. Different story. So, does that make me a criminal? I think not! Idiot! ...but, in his defence, the prices things cost in this country the cost of these items WERE positively criminal... so I guess it IS used by criminals after all ;) :P

  2. BitCoins is used for all manner of illegal activities like sex trafficking. Is there a way to monitor when the coins are being used for illegal activities?
    This is something that they were rather concerned about throughout the hearing. Illegal activities, trust, monitoring... and yet the 2 hour video features only 1 hour of debate and the rest of the video shows the street view where I can watch unsuspecting people go about their lives not knowing that I am sitting here watching them from the cam they don't know is there.

One guy makes it clear that BitCoin is good for nothing and it should just stop existing immediately. The other guy keeps pointing out that useless stuff becomes useful over time... like, say, email. That used to be useless until it became useful. Stuff evolves, give it time to grow and it will revolutionise the world!

One guy says the Flintstones had a better idea with clams than what we have with BitCoin while the other is pounding away at "Just wait and see what this will evolve into over time"

I just found it funny that something that used to be called voyeurism has, through technology, evolved into being called "live cams". No longer do you have to spy on people through their windows, you can just place a camera and watch unsuspecting people all you want. It's all okay now for anyone to spy on anyone and this footage of people who don't know they are being recorded is attached to the same video in which the senate is debating the criminal use of BitCoin and the need for monitoring it's use... lol

Yeah, I watched you cross that street, lady. And don't think I didn't see you flirting with that lady, mr police man! I am forever watching. Beware!