Jeff Merkley actually said...

"So I have got Whiffies out in Oregon that says it likes to accept bitcoins because it has a one-tenth of 1 percent transaction fee."

"Well, it is fascinating that this system, which is not, if you will, continuously tended but is in this public space, has been robust enough to hold up for this long without a major flaw that brought ..."

"Thank you. And I will follow up with some questions about the Electronic Funds Transfer Act and issues that may arise there."

"There is an encrypted version of who owns what."