Learn how the future of crypto is being shaped from a regulatory standpoint in The Senate Banking, Housing and Urban Affairs Committee hearing on "Exploring the Cryptocurrency and Blockchain Ecosystem." Like it or not governments are going to regulate crypto or at least try their best to do so. It is important to be informed of how this regulation is taking place when invested inside the cryptocurrency space. The full version can be found here on CNBC Television https://youtu.be/ZFc0Um6WUU4 Almost two hours of hearing is a lot to go through but completely worth it! I have edited the football down to X for you. I have also made notes of all of the various topics and segments making it easier to follow the conversation while watching. 0:30 No Governments or Corporations or Banks will participate in a decentralized system. 0:56 What is the profile of your average crypto investor? Tech savvy & young. 1:29 A private system is not blockchain. Bitcoin is a public system. 1:48 Fintech like WeChat are unsecure databases. Government control and total surveillance over the population and every financial interaction they make in the world. It is a tool for totalitarianism. 2:50 Technological disrupters such as bootleggers change the world. 4:19 Cryptocurrencies are bitcoin have been used by terrorists. Actually that is a lie. I am sure he knows the truth. Swiss bank accounts are not for everyone. It is not acceptable. Only the rich should be able to hide their wealth. 6:05 Anything can be a currency if it is acceptable to enough people. 7:22 Why are you suggesting bitcoin cannot be scaled? Vitalik Buterin’s impossibility trinity. The impossibility trinity says in blockchain you cannot have scalability, decentralization and security. 8:28 Is bitcoin limited to five transactions forever? No. We can do a lot more with the multiple layers being built on bitcoin. 9:55 It actually called Vitalik Buterin’s Trilemma.. and he says it is difficult but possible. 10:17 Does it matter China or anyone controls the bitcoin mining power? You can’t do much. You can slow down the network in worst-case scenario which is effectively a dns attack which the current financial and finch system are vulnerable to able too also. 11:14 Why is cryptocurrency so easy to steal? 11:39 Why hasn’t the Federal Reserve Move to a Real-time digital payment system? Well there are consequences for the Fed using an open public system. The people will own their own money and banks cannot use it to lend out to others using the fractional reserve system. 13:39 While I have you here, and since you predicated the crash and forces behind the 2007 crash, how do you see the economy now? Do you see difficult times ahead? 14:44 Current growth is from the stimulus. We are going over a fiscal cliff. 15:53 Is debt slowing down the economy? Fiscal stimulus is ill-advised 16:51 Is there a protocol in place within bitcoin to prevent tax evasion? Thanks for watching.