Congressman Asks Difference Between 'Bitcoin, and a Sh*tcoin" - To Point Out Which One Facebook's Libra Sounds Like...

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We're fans of Congressman Warren Davidson, as he's shown himself to be a leader among the alarmingly small group of lawmakers who actually understand what they're regulating when it comes to emerging tech, like cryptocurrencies. He's also the co-author of some smart, pro-economic growth cryptocurrency regulations.

Questioning CoinShares chief strategy officer Meltem Demirors he asked "A lot of people in this space will use a phrase that you may be familiar with: 'there's bitcoin, and then there's shitcoins - are you familiar with that phrase, and what people might mean by that?"

The reason for asking - to point out that Bitcoin, with no central authority, is less vulnerable to interference as no one can filter bitcoin transactions, or make unilateral decisions that would effect the entire market.

The opposite of Libra, so, I guess we know what that means.


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