Template rendering is turned off between open {% verbatim blockname %} and closing {% endverbatim blockname %}.
Template
{% verbatim %}
{% comment "Should we include this?" %}
<small class="text-muted">
Created on: {{ joke.created }}
Last updated: {{ joke.updated }}
</small>
{% endcomment %}
{% endverbatim %}
Result
{% comment "Should we include this?" %}
<small class="text-muted">
Created on: {{ joke.created }}
Last updated: {{ joke.updated }}
</small>
{% endcomment %}
Notice that the Django template tags are output literally (i.e., verbatim).

Commentary
Hard to think of a use case for this.