U.S. Congress talking about $h*tcoins (seriously! :))

Aaah, who would have thought Facebook’s announcement of their Libra coin would be so good for Bitcoin?

This week the congressional hearings started in the U.S., through which the government wants to figure out what exactly Libra is going to be and how to deal with it.

That means they have to finally look at the subject of cryptocurrencies in detail and understand what exactly the differences are between decentralized coins like Bitcoin, and centralized ones like Libra.

In this short clip you can see them actually literally talk about $h*tcoins! Imagine! :D

It’s beginning to look like they see Bitcoin as “the lesser evil” :) and they’re much more afraid of a corporate coin that will be in direct competition with banks and national currencies.

Plus, it’s easier to tell a Mr. Facebook to "stop it", than a Mr. Bitcoin, because in a decentralized network there isn’t one.

The price of Bitcoin went up by $1,000 immediately on Thursday after the hearing (just like it went up and down in direct relation to any Libra related news over the past 3 weeks).

All in all, the crypto community views the fact that Bitcoin is now being discussed on government level as a very positive sign. (No matter whether Mr. Trump is “a fan” of it or not :))