I found it interesting that the sceptics didn’t bring up the ways crypto could be used to benefit terrorists and drug dealers. That’s a solid plus in my book…..right now. But how informed are these senators on the subject? How much research have they done outside of hearing the name ‘Bitcoin’. Had we had more knowledgeable people on the bench during this hearing, more questions could have come up. Specifically about things like Private Coins. This is just the beginning and as new ways to use crypto pop-up I’d except the SEC will have more of a difficult time explaining why we should keep private coins around and how they benefit the people.
Out of all the currencies I’ve explained to my father (who invests heavily into Silver) he likes both Private Coins and coins that aren’t already pre-mined. He was able to deduce the two in conversation after listening to me rant for 2 hours on the different types of cryptos out there. Granted, he’s a computer programmer (probably one of the last people in the world still using DOS) but he was able to understand the difference between the coins well enough to make a wise decision investing. He may be biased as he’s a libertarian and he feels the private coins are the way to go, but who really knows at this point. Private coins, IMO, are somewhat of a crap shoot.
