Though I wouldn't expect anything less coming from Washington, it is a town of talk, peacocking, pandering, and inauthenticity. It doesn't surprise me that they invited a bombastic idiot to speak with them about Bitcoin and cryptocurrencies.
In case you freaks missed it, yesterday shitty economist and raging misogynist, Nouriel Roubini, headed to Capitol Hill for a Senate Banking Committee hearing in which he played Crypto-skeptic alongside Coin Center's Peter Van Valkenburgh, who was doing his best to refute the nonsense Roubini was spewing. As always when these types of hearings pop up, we here at the Ƀent would like to draw attention to the complete ineptitude of our government and their ineptitude to even find someone who is qualified to speak on the subject.
Throughout the hearing, Nouriel spouted every buzzword and cliche knock on the corn that he could. Though, he was right about some things (ICOs mostly being scams that have swindled millions from retail investors), he was terribly wrong when it came to Bitcoin in particular. Citing unknowable "Gini coefficients", false narrative about mining centralization, and your run of the mill fearmongering about criminals and drug dealers. Nouriel's ineptitude should have been nowhere near Capitol Hill yesterday. He should not be the person explaining how these systems work to lawmakers as he doesn't even understand how they work properly. Though I wouldn't expect anything less coming from Washington, it is a town of talk, peacocking, pandering, and inauthenticity. It doesn't surprise me that they invited a bombastic idiot to speak with them about Bitcoin and cryptocurrencies.
Here's a little tidbit on the origins of Bitcoin and why Satoshi decided to use base58 instead of base64 encoding when he was originally writing the code that would turn into Bitcoin. The man/woman/group/alien/ai had the prescience to use base58 over other options when creating public addresses so that users would not have any confusion between the "0's", "O's", "I's" and "l's" that would appear with other encoding schemes. A UX nightmare that may have caused innumerable headaches was avoided with thorough design thinking. As Guillermo and Santi point out above, the attention to detail is what sets Satoshi apart from everyone else.
In the dog house right now. Pray for your boy.
Enjoy your weekend, freaks.