Topic: This just has been spoken in a US Congress hearing: "There is bitcoin, and shit (Read 295 times)

Don't you think too much about the US Congress or any other authority's statements?

Especially when it comes to BTC, it doesn't matter who says what. You should remember that Bitcoin and its blockchain network are decentralized. I want to address you again with the words of one person from the US Congress. Bitcoin cannot be killed, destroyed or changed by us.

It is understandable that Alt coin supporters will feel this way. Just image having tons of money invested in any Alt coin and then having some government employee talking shit about it. This is also how many Bitcoin supporters feel, when people like Trump and Warren Buffet talk nonsense about Bitcoin on public media. 

The people who hurts the most is the hard working developers behind these coins, who are trying to build something for years around these coins and it gets smack talked like that. 

I heard a friend talking about this video clip and didn't believe him. I actually had to watch it myself and I am actually surprised they used that term on TV. And its not any type of TV, its a government meeting and very surprised the word wasn't even censored. Why didn't they said say "Alt-coin" instead?

This reminds me of some other similiar government meeting where they were talking about "hodling", I think it was during the Q4 2017 bull run era.

If you were waiting for retail adoptions and FOMO, this is probably it. However you know what happens when the average Joe's is talking about buying Bitcoin, usually ends up being the top.

Although there is well over 2000 altcoins (and more that are no longer listed on con market crap) so there is bound to be some shitcoins, but there is like 20 or so that are legit.

BUT!
You want to know what is a shitcoin, ANY FIAT there is 180 traditional currencies and ALL OF THEM ARE $HIT $LAVERY $CAMS $HITCOINS and none of the leaders have any balls to take their country back

PATHETIC "LEADERS"

What are you scared to be JFKED? I embrace it, here is your solution, make your government a robot, that everyone of the nation runs, then you can`t assassinate anyone or you gata kill them all.

Switzerland and Canada your up, I believe in you, but instead of you having to believe in someone else, you just got to believe in yourself now. With decentralized voting on a blockchain.

de·moc·ra·cy
/dəˈmäkrəsē/
Learn to pronounce
noun
noun: democracy

    a system of government by the whole population.

the problem is not bitcoin , the problem is to much shit out there and this is why bitcoin deserve to be king,

and we have great project beside bitcoin like nano and ethereum and few others.

its people/founders/scammers and other shit is lazy to bring top coin for few reasons, when in reality it very simple just need to be creative and nothing more.

in anonymous projects i dont trust, because the team need to open about who they are and other stuff, bitcoin team escaped this because they was the first one and far away from scam yet after this all the anonymous projects was scams because to be anonymous its the best way to scam.

*and if i will invest in anonymous projects its only they provide in someway trust how it will be i dont know.

I partly agree. Even though most are definitely crap, saying that everything besides bitcoin is complete shit is purely wrong. I mean, I think you only have the right to call everything but bitcoin shit if you literally studied every single cryptocurrency project in existence.

With that said, I think the congress hearing went that way just because the time is so limited. The time is short enough to talk about bitcoin only, what more if they talked about other legitimate projects? It would require A LOT more time. I think Meltem Demirors' goal here is to just not confuse them right off the bat.

I always liked the name shitcoins. It's so short and meaningful. Soon we'll see it added to dictionaries.


They should really learn to distance themselves and work on their sense of humor. I hold altcoins too, although most of my portfolio is in bitcoin and I don't feel offended at all. There are shiotcoins, that's a fact. Over 50% of all altcoin market falls into this category and you can be angry at the facts or just take them like a man (or a woman ).

reddit shit  for sure,

when he ask the girl simple question she suddenly think twice if she provide the right question, as most of them dumb.

and most of the project are shit while the great projects you can count on your fingers.

nano coin speed transaction is 0.26

have load of shit of nanos in my bag

Agreed. There's plenty of interesting experimentation going on out there. Maybe most of it would better for them and better for us if they weren't monetised in any way but of course the temptation is impossible to resist.

There are basically two aspects to bear in mind. There's the coin itself which is completely agnostic, and then there's the way pumpers, dumpers and developers choose to treat it. That's where the shit usually starts to seep in.

I feel bad for the people not open to see what some of the alt coins are doing and classifying them all as "shit coins". Just because it is not bitcoin does not mean it is shit.

Granted, ok 99% of them are shit coins, but some are changing the game and the future for us. You should read more altcoin whitepapers if you have spare time. That is all I did for 5 years and there is some really decent projects being formed. Some that will advance our medical fields, some that even might replace fiat, some that created decentralized voting, some created different algorithms that might even be safer, and a bunch more! like fuck someone made a blockchain game I made 4 btc in one day from built into the wallet, that was dope and it also serves as a simulation of bitcoin and gold, anyways there is a bunch of different things I have not listed here.

If you are a "bitcoin maximalist and shitcoin minimalist" it just means you are closed minding fool.

I am sure if satoshi was around they would not condone this behavior for all of the altcoins, I am sure they see value in some of them. I am sure they could pick 99 out of 100 altcoins that are a shitcoin but still. There is a shitload you can learn from these "shit coins" which are not shit at all actually.

There is some good stuff out there being created. If you want to not evolve anymore keep calling them all shit coins and labeling as the same thing. You should embrace some of these projects, the thoughts, ideas, tech and principles behind some of the stuff.

The point is to progress with our tech, not get stuck in one spot, otherwise we would all be using fucking Fred Flintstone cars still.

It is not all shit.

I think in the next year or two we're going to see alts put into a box for good. BTC is going to assume a position in terms of legitimacy that they'll never hope to match. Of course they never did but enough people somehow believed it.

2017's alt season was kicked off by the Winklessvoss ETF denial. If it had passed alts would've shat the bed and that would've been the moment BTC became unassailable. It didn't happen so they took off in relief. Instead it's going to happen more gradually.

There'll no doubt be many ludicrous alt pumps in future. They're not going to have quite the same whiff again though.

We have to give credit to Ms. Demirors for a good job explaining the difference between shitcoins and bitcoin.


I supposed it was to be expected. It was a direct hit to them. The clip just categorized other cryptos are shitcoins.

I had to watch the video to believe it! This is ... unexpected

You might want to see the discussion posts on Reddit r/cryptocurrency and r/ethtrader concerning this video clip LOL. The altcoin holders are definitely in full force and are definitely not very happy with both the rep. and with Meltem Demirors(the woman).

Well, it was just a question in the middle of the discussion (or so it seems). The guy just asked the gal about what it means, and she explained it. Then came totally other questions of differentiating bitcoin from fiat. And true, when the topic returns to shitcoins again, we can't hear what he wants to say about it. CCN made the same conclusion as the op out of it, though, also hinting that 'shitcoin' refers to Libra: https://www.ccn.com/news/bitcoin-and-then-shitcoin-congress-finally-gets-it/2019/07/18/. Well, anyway, it's just one guy who might be in support of it. There are still many people who beg to differ.

they are to much on reddit for sure

The video was stopped before the man made a point. I think he was talking about our shitcoins although he referred to them as shitcoin. It was cut when he was describing that the value of altcoins is subject to manipulation by a central authority which is usually the developers that hold a large percentage.

https://www.youtube.com/watch?v=vf1dym16poc&feature=youtu.be

This just has been spoken in a US Congress hearing: "There is bitcoin, and shitcoin