Footnote (1) defining #Shitcoin in the testimony is even more cathartic...
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Chairman Crapo?
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yep -
I like the carnival barkers too. Curiously refreshing.
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"calling this useless vaporware garbage a “shitcoin” is a grave insult to manure that is a most useful, precious and productive good as a fertilizer in agriculture"
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" My apologies to the members of the Senate Banking Committee for using the scatological term “shitcoin” but the term is standard in the crypto jargon"
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Interesting, indeed. FUD is probably part of every (technology) revolution. As if other currencies were not volatile or used by good and bad people... Blockchain, going through growing pains. Thank you for sharing, Mr. Krebs. Your contribution to security is most appreciated!
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Any claims of "FUD" aside (I have not read the document), blockchains certainly aren't a "revolution". They're a minor discovery with somewhat disappointing tradeoffs and performance in a longer history of decades of decentralized-systems research.
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Excellent points, Mr. Slootweg. IT is so fascinating because of being so broad. Technologies, such as databases, routing / directory / naming services have a more direct impact on the Internet/Society. Yet, people are (also) happy to invest billions into Blockchain. Puzzling.
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This is especially unfortunate when you consider how critical to society IT has become...
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Certainly a tour-de-force, but probably too long and definitely to technical and detailed for the Hill. Good Sunday brunch read, though.
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Who knew that a bunch of adolescent males weren’t the best investors. I am stunned. I wonder what will happen to pot stock valuations once they move on to next shitvestment
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US Dollar is the greatest shitcoin, check out the value of it today
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Ahhhh yes, good ole Chairman Crapo... I say again, Crap-Oh
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