thinking about the pleasant green universe (again), and honestly something i really love about it is how much noticeable care and effort goes into its depictions of east anglia? as someone from the region, it's rare enough that any vaguely mainstream media chooses to set stories here, and even rarer that these depictions actually go to the effort of getting it right. but with the pgu, not only is east anglia put right at the heart of the action, it's all written in a way that makes it feel so authentic. like i listen to these audios and can think "yeah, they've got that right. that's just what that place is like". the vibes are just... accurate? in a way that i've almost never seen from anything else. and it just means a lot to me that a fictional universe i love would go to the effort to create a faithful representation of the feel and geography of my home in that way

The Magnus Archives Relisten: Episode 115 - Taking Stock

So it’s another statement is it? Like I owe you something? Even though I warned you the handle might have splinters, that you should always be wearing gloves if you’re going to try firing it. And you knew where it was from, the signs of rage and violence to be watching for. So far, I don’t see how it’s my fault, and I don’t consider myself liable. - Statement of Mikaele Salesa

I mean. HE HAS A POINT! Fucking around with what is clearly a fear artefact when you KNOW it's a fear artefact is a stupid decision and you can't exactly blame the person who sold you the artefact for that stupid decision.

So I suppose if it’s a statement you’re wanting… it’s no inconvenience to me. I don’t sleep well anyway.

People keep mentioning they don't sleep well after making a statement so by this point, yeah, I'd figured out people have nightmares after giving a statement, but I hadn't yet put together the clues about what that actually involves, even though it should have been obvious given what power the Institute belongs to.

My first job was working with Jurgen Leitner, but I got out of that years before the man met his fate. Started looking for the exit about the time that I saw Warren get literally eaten by a book.

Smart man. Good judgment. You'd think "Someone just got killed horrifically in front of me, this job sucks, I'm out of here" would be kinda obvious but clearly not, given all the characters in TMA who didn't make that decision or left it so late that they no longer had the choice.

And before you start cross-referencing, looking for some newly-birthed monster called Warren, I don’t mean eaten like that. It left behind the leg. Don’t know any transformations that leave behind your leg.

The delivery makes this section WAY funnier than just reading it does.

That night dinner was hamburgers. I made a joke to Cook about him getting good use out of the meat grinder already, and he laughed, told me it was from frozen, but looking back now I don’t think he laughed as long or as hard as I might have liked. The meat was good, juicy, and honestly it didn’t taste as if it had been frozen at all. The sausages the next night were the same.

I think even just the line "That night dinner was hamburgers" made my stomach do a little jolt of queasiness and my brain go "Oh no."

When I thought about it I’d get visions of Cook slowly reaching in, cranking the handle wildly with the other arm, while he pushed his skin and flesh into the whirring iron, mouth open and smiling, as it began to come through the mincer grate like a string of meaty bubbles. It made me feel ill, but I just couldn’t get it out of my head.

Urgh, thanks for sharing the nausea, Mikaele, much appreciated.

Secured over the hobs was a bubbling pot of water that Cook was gradually turning into stock.

OH GOD, I ONLY JUST REALISED THE TITLE OF THIS EPISODE IS A PUN!

God, do I – do I miss being chased? That’s depressing. No, it’s… I just miss feeling like I’m moving - Jon

This actually makes perfect sense. I mean, I've never been in such life-threatening or otherwise horrific situations, obviously, but generally speaking waiting around for something unpleasant to occur when you can't really do jackshit about it or have already done everything there is to do is a LOT harder than the moment of being caught up in similar levels of unpleasantness.

Helen: We’re both changing, Archivist. I had hoped, that together – Jon: Get out!

I felt genuinely bad for Helen here, being so rudely rebuffed when all she was trying was to start a little "Turning into a monster" self-help group. I mean, Jon's decision to send her away might have been prudent (though I think he was mostly doing it because he didn't want to acknowledge that the Distortion and him have anything in common). But still. Poor Helen!

My impression of this episode

This statement, like many Flesh statements, was unsettling only in that it was rather gross. The twist of "the meat grinder doesn't grind flesh into minced meat, it creates limbs" felt so irrelevant that I kind of forgot about it until relistening to the episode. Jon's post-statement musings and especially the conversation with Distortion!Helen are actually quite interesting, though, from a character development perspective.

Bitcoin Price Action, Libra Is Finished, Explosive Demand, Banks Go Down & Ethereum Database

VIDEO TRANSCRIPT

Hello, everybody, welcome back for another video. Hope you all doing well and that you’re all having an incredible day to start things off. Bitcoins upcoming mining rewards having has long been looked upon as a fundamental event that would help bolster its underlying strength and catalyze some immense upwards price action, the sentiment has been largely rooted in historical precedent as the benchmark cryptocurrency has long seen immense bull favoring volatility and the time directly preceding and following this event. It doesn’t seem as though the same can be said for the having that is occurring in just a few weeks from now. However, as this is the first time in Bitcoin’s decade long history that it is entering, its having with a negative 90 day re turn at the time of writing, Bitcoin’s mining rewards is slated to occur in about twenty five days. It depends on where you look. It depends on how much actual computing power that we have going towards the bitcoin network. A lot of people have been turning their computers off to people have been turning the computers on. There was news yesterday that I did not have in a video because it seemed completely pointless that we had re reached the mining capacity strength that we had seen before that we had dipped down from that had made major news because people had turned their computers off and they subsequently had turned them back on. So we were just back where we were about a good three, four weeks ago. So. Why have it in a video and is expected to take place on the 12th of March? It is not accurate, but we will see as we get closer. The event cuts the rewards that traders receive from producing blocks and have subsequently decreasing the cryptocurrencies annual inflation from 3.6 5 percent to 1.8 percent. After this ends up taking place, the having as an integral part of bitcoin being a deflationary currency and shines a spotlight on the importance of its existence during a backdrop of endless money printing and inflation. What we’re having right now, for those of you who do not see the title of said article, it says Bitcoin showing unprecedented pre having price action. We are currently in a situation where the cryptocurrency market is up. No one knows how far it is going to go up. But however, at the moment, I think bitcoin. Right. What does that keep happening, every video Bitcoin went up by around, I think 6 to 7 percent. I think he theorem was the. The winner, winner, chicken dinner. I think anywhere from 11 to 14 percent, depending on which place you saw the actual number. And at what time. The cryptocurrency market is seemingly doing very well. And when you look around once again, always, that’s how it always happens. It’s never clear cut and dry. There’s never an exact reason as to why prices are going up. As always, multiple things. A lot of people think. They assume that because we are getting closer to the having, therefore more people are jumping into the cryptocurrency space, they’re seemingly more interest. We’re getting a lot more. Google’s search results or people searching on Google for the term Bitcoin having we read about that about three, four days ago. I think it South Africa, Venezuela, Singapore, Switzerland, that place and the other places, I think is the 10 places in general that have like super high search results, just about the bitcoin having normally search results end up circling around Bitcoin’s price or bitcoin price predictions or bitcoin price today. However, that has shifted to the. SITUATION around the mining getting cut in half the money, we’re we’re getting cut of half. The other thing which people think. Is that it has to do with the governments around the world printing tons of money. I’m going to tell you honestly, I don’t think that that is a major cause of the cryptocurrency market going up. And I’ll tell you why. In the beginning, in the long, long ago, the entire idea or the. The word is in power, what? What cryptocurrencies were before has completely changed the idea of Bitcoin being a decentralized, super mega world powered for everyone and everything, cryptocurrency still remains. But it’s kind of on the fringe. It’s been pushed to the very ends of it in a lot of people. Many people just simply see Bitcoin as an investment vehicle way to make money. And this is why I believe whenever we see the traditional stock market go up or down, this is why the cryptocurrency market follows it, that a large part of the sentiment of the people who are within the space right now don’t care about decentralization. They don’t care about helping poor people. They don’t care about other people around the world. That has to do with how much money I can make from bitcoin. So whenever bitcoin or the stock market goes down, then therefore the cryptocurrency must air quotes go down because it’s also just another investment vehicle. It’s not something people have very limited form of foresight. A lot of people, many people don’t foresee a future. People people barely know what they’re going to do in their life the next three, four or five weeks. Nonetheless, what a cryptocurrency that can be used by billions of people on the planet. Permission Lassally where that’s gonna be in around 10 years. So a lot of the the current price action, I just it doesn’t really if if if I can say this, it doesn’t really bother me whether it goes up or down because I know that the future of the cryptocurrency space is going to be reliant on the old teachings. If you could kind of say that sounds kinda weird of what bitcoin in the cryptocurrency space used to be and still kind of are like the deflationary nature, the fact that you can send it anywhere, you know, the entire spiel. I don’t have to say the entire thing over again, but I think that will come into play as time ends up going on. And this is why I think a lot of people understand what they’re having is significant for, but a lot of other people just see it as another way to kind of. Who’s their portfolio up and make money? So the point to be made is currently the cryptocurrency market is up. However, at the exact same time and this is why I said I don’t think it’s the the printing of the stimulus money, if you will. As one says right here, April 17th, the European Stock Index futures surged more than 3 percent on Friday. As Donald Trump rolled out plans for a gradual reopening of the economy and on reports of a potential something, something for number 19. The situation that we have right now is that many world governments, a couple of them, a handful, an actual handful, are discussing the ideas of re opening the economy. This has been eye. This isn’t a political channel. So we’re just gonna kind of leave it at that. However, the point to be made is it appears that there is a lot of happy sentiment on the back of the idea that this might not last for another six to 18 months and therefore we could slowly see signs of a recovery and or things slowly opening back up. I think there was also news yesterday that Apple is also planning on starting to reopen their stores. I think the first one will be somewhere in Asia and they’ll kind of go in a store to store basis. So. Once again, the correlation between Bitcoin and the stock market is completely nonsensical, and I think that’s simply because people don’t understand still what Bitcoin is, and I know I said it rather ominously before I remember I was relistening to one of my videos and I was like, if they don’t know now, they will. And I adamy to have that kind of tone. But it’s the truth. A lot of people who don’t understand what this is for are really gonna be hit hard when they understand exactly what the point of bitcoin is. Yeah. The point to be made is prices are up. Who knows how long they will stay up? The pop, pop, pop, pop, pop. The stock markets in the Americas have yet to open. And I think that will be a good indicator if the stock markets are going to go up and if the cryptocurrency market will also go up. I really do. I don’t think and this is this is me. I feel like if people really understood what the significance of Bitcoin’s inflation rate going from 3.6 to one point eight percent like what the actual significance of that was, I think we’d have a a bitcoin price over at least ten thousand right now. For those of you who don’t know the the the dramatic significance is that normally we are told that the actual issuance rate or printing of money from governments around the world, they aim for a 2 percent inflation rate every year. However, this number is usually around 3 to 5 percent as governments sometimes over create. However, the fact that Bitcoin will officially be below those numbers, even if the official numbers from governments was 2 percent every single year, if the U.S. government was printing 2 percent more of their money than they had last year and bitcoin will mathematically we know this for fact because it’s on the blockchain will be 1.8 percent. That alone. I mean, the the idea that as time goes on, the less bitcoin that’s created by the network, the more valuable it will become as it’s deflationary and the inflationary currencies lose their value if you never look at a chart for the U.S. dollar over the last thing. No, I would say 90 years. I can remember the exact number for the chart. You see the U.S. dollar just being decimated in value. And on the flip side, we now have a deflationary currency which logically would become more worth more as time ends up going on anyway. I think people just don’t get it. I have friends and other non friends, friends of friends who ask me still, why bitcoin? Why? Why not something else? Like I invest in so-and-so, I and. I’m like, that’s not. You don’t get it. And I don’t have time to explain it to you. Just go read a book or something. Anyway, you know, the prices are up. So are the futures for the European stock market. And we’ll see exactly how this ends up continuing as the day unfolds before us. In your news, that’s everywhere news and I mean every single corner of the Internet. After a rocky road. Not the ice cream. With the United States Securities and Exchange Commission, key decision makers and Libra have gone back to the drawing board to retool their cryptocurrency platform to be more palatable to regulators. First of all, Libra has applied for a payment system license from the Swiss regulator for financial markets and the supervisory authority. This is a huge milestone on the way to some publicly usable Libra payment system. But there is still work to be done. Lieber’s licensing process will continue to require input from other central banks and financial regulatory authorities around the world. But the traction is positive for now. Libra is on its way to being able to make or to offer monetary and banking services, and I’ll get into exactly how all of that is just hubbub. There are also a number of underlying technical challenges taking place or changes. First is multi-currency stable coin L B R or just Libra. Be back by new stable coins instead of fiat currencies living in a bank account somewhere. Leber co-director David Marcus tweeted that the most notable evolutions in the creation of single currency stable coins like USD EU are and great British pound. In addition to the Libra coin, the updated design is made possible by a smart contract that ties together the fixed normal weights of underlying stable coins and also happens to limits Lieber’s flexibility. Some adding or removing since adding or removing a currency from the basket would require issuing or retiring another currency. Here is the major part to keep in mind. It says The major update is to the Libra White Paper, which has been retooled in light of the previously described the technical changes. The first version described Libra as a permission and network controlled by the Libra Association, and the plan was for it to go permissionless in the next five years working backwards. I know, you know. The fish in the sea knew and Facebook knew there was never going to be a point where Libra was going to be permissionless. Never. Not in this dimension. Not a next dimension. Not in any there’s there’s no timeline where Libra was going to be as permissionless as Bitcoin. Let’s just kind of get that out there. They said the original idea for Libra was and this is why a lot of people and why the cryptocurrency market reacted positively last June, I believe it was when they first mentioned this. The idea was that they would have a currency, a digital currency that would be released. This new currency will then go out into the wild. People around the world would use it. They would have a Libra wallet. And within this Leber wallet, they would add other cryptocurrencies and or digital assets. And therefore, people will be able to trade them at will back and forth. Remember the news even even more so. I mean, it all ties in as I’m as I’m going forward. The news that we have been talking about, how regulators. Want to regulate. And they want to know where this is going, why this is happening. The long and short of it is if they did not create it. It can not be. Or if it is to be, you better tell them exactly what’s happening at every single turn. And I think there was a bit of. The word is even backlash. It was it was it was angry lash, because the people from Leber pretty much said no, like we’re going to control this ourselves. And they said, we’re gonna do this. Oh, they also registered directly even last year. They erect the directly registered in Switzerland and not within the United States, which is also a big no no, because you got to tell daddy exactly what you’re doing. So what has happened over the last four hours? Like I said, it’s been everywhere. The original idea for Libra was to be just Libra. Backed by multiple paper currencies that changed in two Libra being backed by some fiat currencies, paper currencies and other assets, we don’t know if it was gonna be gold, if it was gonna be luxury real estate. No one knows exactly what that would have been pegged to. And then it evolved in to around August, September, they announced we’re not opposed to also launching stable coins. So it was going to be Libra alongside other stable coins. Now, that’s morphed into an I I assume this is what it is. The fact that they’re able to even continue with his roll out of it. Remember the discussion that we were having before that they are going there are going to be. Government issue stable coins that I mean, central bank digital currencies, I mean actual stable coins that are going to be used within the cryptocurrency space. I think cryptocurrency exchanges will eventually be forced mandated to use these. That is also an assumption. Who knows? But you kind of see where I’m going with all of this. And these, I believe, are what is going to be used through Libra, especially at night. Yeah, I think it’s actually correct if if you read around about it. I think it’s going to be. It’s meant to be stable coins in a backed by U.S. dollars that I think are under the purview of the CFTC and or the S.E.C. or some other letter. organization that is going to kind of have an overview of everything that LIBOR is actually doing. So now you have the entire original idea of labor has completely fallen apart. The news that we also had was that around October, this would all kind of get going. Now it appears, I think whereas it was somewhere which article was an engine design, a compliant transaction is a very near term dauntingly. I don’t know where it was. I read it in one of these four articles. I think apparently the the initial launch of Libra will not be for everyday people. I believe it’s going to be just for businesses, institutions and cryptocurrency exchanges in the beginning, because this is it. You’d better believe if they have so many problems with Facebook, even thinking of launching their own currency when they release the stable coins that are going to be backed by other official currencies U.S. dollar, the euro, British pound to the Singaporean dollar, you are probably going to have to be required to actually do it. A massive amount of KYC that’s know your customer stuff on Facebook to be able to use the platform. This was expected to roll out across Facebook Messenger and WhatsApp. And there’s another their fourth one, Instagram. These were the expectations. So just be aware. And about a good year from now, you’re going to see something pop up and it’s going to say, hey, upload an I.D.. No, upload an I.D.. No, no, no. Upload your. You’re going to be forced to actually do all of these things to actually try and use these these platforms. So as it stands right now. Libra, apparently. I don’t want to say is no more, but the original idea from it has completely fallen apart. Is this good for the cryptocurrency space? Maybe a lot of people believe that the actual usage of Libra or the launch of Libra was actually somewhat. Dare I say bullish or bitcoin, because we would get to see in real time how much LIBOR was issued on the basis or the connecting lines to fiat currency, we’d be able to see the inflation rate of Libra and the deflation rate of Bitcoin. And also it was expected because the people from Libra and Facebook had said they originally wanted to use Bitcoin as the actual currency on the platform, but they said it was simply too slow for what they were trying to do and therefore they created Libra. So the assumption was that all of this is that at some point they would add Bitcoin as a payment option on their platform. But once again, if governments have a problem with people using telegram tokens or kinne tokens, they probably would not have cared or it would have. They would not have liked if people were able to use bitcoin on another platform anyway. So, yeah, it looks like Libra is. Yep. It’s still going to launch looking very different. It’s going to it’s I can remember where exactly it said it it’s it’s going to just hit. Like institutions and banks first who are going to want to use it. Yeah, I mean. It’s not like it was going to. It’s not like it was going to take down a bitcoin, which is great for reference. Because remember, in 2019 when all those articles started popping up, you can find them type in like Facebook. Bitcoin, no, like Facebook. Libra, Bitcoin, 2019. As some articles start to pop up from like Forbes and Bloomberg, where they were predicting that Libra would be the downfall of Bitcoin and Libra was gonna be so big, that big. And I’m like, you don’t underst. This is a problem. People don’t understand what bitcoin is for them. It’s just a way to make money. It’s just a number on a screen that goes up and down. It means nothing to them. Besides that, like the reason why Bitcoin has survived this long is because it is permissionless. While me and you may buy, sell or hold trade, whatever we do on a daily basis. There are people around the world who billions of people around the world who do not have access to financial institutions, to banks, to anything. They’re actually buying up bitcoin in a bid to actually be able to transact and use might like it is. It is the new form of money. And this is why it’s very important. People keep overlooking the fact that last year Bitcoin did four times as much transactions as PayPal. Think about how they think about how popular PayPal is. Think about how many of you have used PayPal. I used to when I sold on eBay, I was using PayPal multiple times a day. Think of how popular and strong and well-known PayPal is. It’s on every single nearly every single payment Web site. Scroll to bottom. You see the two letters, bam, I can use PayPal. Now, imagine that Bitcoin been around for 10 years at this point. Did four times as much in transactions as that. One thing people continuously overlook. These these facts. And this is why I always say. The fundamentals were Bitcoin haven’t changed. Oh, yeah, whatever. Yeah. So that is the Leber news, that this news was everywhere and I assume it will continue over the next couple of days, I assume around around from Prempro, August. July. We’ll get like sprinkles of more news as to exactly how this is going to launch. But as it stands right now, Libra is. There’s no word that I can use for like done that rhymes with Leber, I was gonna say lowest like Libra is toast, but that’s not a word. Lieberals Lieberals lo look. Okay, let’s move on. I can’t find a word. This yeah, yeah, this is it as well. Four months after Circle pivoted to stable coins, the startup’s new business model has received an unexpected boost from the global nineteen. This was said by the CEO Jeremy a layer. U.S. dollar backed blockchain tokens are surging in popularity around the world, and this time much of the demand is for payments. In normal business transactions, not just to move money quickly between cryptocurrency exchanges. Oh, you know what I just remembered? Remember last year we were reading that article that apparently between China and Russia. I think it’s the I don’t know if it was Teather or the Sir Adam. I’m. I think it was Teather. That apparently people are using these currencies to trend this digital currency, to transact between each other like that, like the border of China and Russia. There’s like a market somewhere. And because they don’t want to have to swap back to currencies back and forth to actually do the what’s it called. That goes like a changing service. And they hand in the money that you get a terrible fee and and you go back across the border, you spend money this way. I think they’re just using stable coins, which is completely insane because this is kind of, you know, the point of them. But also, you get into that territory where governments are like, hey, you’re not you’re not you’re not using my money. That’s that’s the money I printed for you. And it creates this really weird like. This is this is the point of cryptocurrencies over the past several weeks, we have seen an explosive interest and growth in U.S. D.C., he said, referring to the stable coin circle issue is in partnership with Coinbase. This is clearly very significant global. There is clearly a very significant global demand for digital dollars and the use of digital dollars as a new payment to medium. New signups have come from e-commerce marketplaces, advertising networks, luxury good producers, recruiting platforms, digital content makers, peer to peer lending platforms, payment companies, software firms, professional services, reward businesses, mobile banking providers and other internet companies. We are getting feedback from Asian market participants that there is more and more demand for USD C from SMB seeking both the safety and utility of digital dollars, he said, using a term for small and medium sized enterprises without really having read much further. Here’s the actual growth chart right here. This is insane. And even if you go from this is March, this has to be around January, the beginning of this year. Do you see this spike? It’s this is also. Remember this where we just spoke about yesterday. It says G20 Group C stable coins as threat to financial stability is because they’re probably getting all these numbers, they see these charts. Do you understand the significance of someone creating a version of the of the a digital version of the dollar that was not created by the Fed? And to have it explode in popularity like this, like this is also the it’s a metric based off of the supply, but the supply is based off of how much money they have actually coming from investors who are putting it into this thing because the demand is also there, like as the demand rises for this coin. This is how much money gets put into the market. How many coins are distributed. This is why we see billions of dollars worth of Teather. So sayeth the Internet. Yeah. It’s a it’s a very fascinating time. This is from their charter from 2018 to now. That’s that’s roughly around seven hundred and twenty five million dollars just issued in the circle coin. Now imagine the Gemini dollar tether. I think Bynum’s also has a stable coin. I think who only has one as well. So imagine all this money flowing through these systems. And the government and the Fed aren’t part of it. This is why stable coins are now a threat, because they it’s so fascinating to see all of this unravel like right before our eyes, you understand the significance that you as a company are able to create your own, not only your own currency. I think that’s also something that people keep forgetting. And I and I it it waters down the significance of the cryptocurrency space when we have ten thousand currencies, because the idea of someone actually creating a cryptocurrency and or a currency that has actual use or a use case is major. We’ve never, ever in the history of ever been able to do this before. Anytime that any other company had tried to do this in the 90s, this is also if you look back. A lot of companies since the Internet, I won’t say, became more popular around ninety five to ninety eight to nineteen ninety nine, you can read about this online is all everywhere like Athena called Cypherpunks C Y P H E R Punks. They tried multiple times to create a digital version of the US dollar or just digital money that people could use back and forth. And the reason why bitcoin is so significant is because I gosh, what is it? It it passed the the business tene tolerance of the Byzantine fault. I came in what is called it other ways were always centralized ways of creating money and bitcoin blockchain that bitcoin bitcoin was on created a way that it was actually permissionless, that you just had to run a node and all the nodes would trust each other because they were all sharing the exact same information. That was something. I know it seems normal now, but years ago this was not anything that actually made sense of that could actually work. And this is why bitcoin is like is bitcoin because it was the first to be able to do so. You were unable all these other projects that had tried to launch their own digital version of anything or any dollar or any on money were completely shut down. If you read and the actual beginning of what pay power was meant to be, PayPal was meant to be something similar to Bitcoin, not the same as bitcoin obviously, but it was meant to be a digital dollar that you could kind of use online at your own behest to whatever you wanted to do. You could use it. I think it was around for about a good year, and that’s when governments were like, hey, what are you guys cooking over there? It smells good. And we don’t see we don’t see anything in our in our wallets. So this is kind of how PayPal got morphed. You can hear. I dunno if it’s the current head or the previous head of PayPal. He said as many times he’s a he. He loved the idea of bitcoin because it was reminiscent of what he was trying to do. Anyway, the entire point of this conversation is. Stable coins are. I want to say no. I was going to say they’re here to stay, but I we we we all know behind the scenes they are being dismantled in in rapid succession. I mean, when you you get stuff from from from from the G20 saying that stable coins are a threat to financial stability. That’s a that’s a that’s an issue. That means that your. The financial system, as it is right now, is just garbage and I mean complete and utter trash in every single possible way. If you have people look at this. This is two years, it takes two years for something to be to become financially unstable, like I feel like the creation of a digital version of the world’s most popular currency probably shouldn’t be. I don’t say there’s not a threat, but it’s very interesting to see. I’m I’m. Or a decentralized world. I hope for a world where I don’t know. I have I have a lot of hopes. I just kind of leave it at that because I could. That could go on. That could be a 15 minute segment in and of itself. But yet we’re seeing this happen all around the world. I wish I could find that article. It was definitely between China and Russia, where little markets there, they walk across the border and they are paying in stable coins because it’s an easier way for them to be able to transact. Anyway, I. I find news like this quite fascinating. Let’s move on. Next up, some U.S. banks have been unable to handle the increased demand generated by the stimulus checks being distributed to 80 million Americans. On the 15th of April, the online platforms for a U.S. bank, PNC and the fifth third banks went down, apparently unable to handle the inflow of stimulus. The inflow, not even the outflow, unable to handle the inflow of stimulus funds. On the 16th of April, some users of the online only Ali bank reported outages, with U.S. bank customers reporting outages or ongoing problems as well. Banks have shown they are unable to scale with the increasing demand. Shocking. Ironically, the lack of scalability is a typical criticism of Bitcoin and other blockchain networks that have been happily chugging along. In the meantime, without any hiccups. Àlex Smush Mushin, ski CEO and founder of Celsius Network, who is known for his critical stance for the banking industry, told KOIN Telegraph the issue highlighted problems with the legacy infrastructure. He said We live in this technological age and everybody can scale, but it’s not what’s happening, but it’s not worth it. Yes, that was happening, but the government is still printing physical checks and sending it to people in the mail, which still blows my mind. Once again, to understand if you are not in the states. Other places around the world don’t use cheques even crazier. There are parts of the world where there are people who are without homes on the street and they actually have like QR codes hanging from their necks. And you kind of walk up to them and you scan them. Checks are no longer a thing in many other parts of the world, so the idea of having to print out a check and then mail it to someone and then they have to take that to a bank and or to a a check cashing place is very 1960s, very 1970s. The other point being, that’s the inflow of funds that has nothing to do with the people even trying to take their money out. The antiquated system is going to remain antiquated. There is nothing in my mind that tells me within the next two years that the debt, the current banking system is going to try to reinvent or to remake itself. There’s there’s too much there are too many old cables, literal old cables lying around for any of that to kind of. Be revamped or replaced in the in the in the ever. But yeah, here’s the actual article that it is referencing. It says U.S. Bank, PNC Fifth Third Bank down as money checks money. Millions check accounts. More stimulus checks are real. The part is that with more than 80 million Americans expected to receive their checks via direct deposit today, online platforms for banks, including the likes of those three, went down as they were flooded with demand. Customers have issued reports with other banks as well, including Bank of America, TDE Bank and and T Terrible. But once again, logic doesn’t really reside in the minds of many. Can you imagine how crazy this would have been? I mean, stay with me for a second. Once again, this would never happen. But if this check had been released, handed out, distributed. And they will like everyone. You can choose five different ways you can get your check directly in Bitcoin. You can get your check directly in lumens and SRP and ether or like coin you choose and you go on the website because it’s the year 2020 and we should have websites like this. You type in your name, you type in information, you type in your social, and then you type of what coin you want and the address and we’ll get it to you. See, the crazy part is that that’s all possible, like that’s actually all possible directly right now, like what I said to you is a complete fantasy because we know the dojo. TIBBETT But the other point of it being what I said is into other worldly or undoable like we can we can do that today, especially with smart contracts. You can set up smart contracts that have a certain amount of money inside of them and it checks all of the actual addresses and start shooting out money in different directions. That’s how blockchain works. Unless you are in this situation again and this also doesn’t even count in the other what you might call it. What was I going to say? The other what was it like, 50 or 60 million people who won’t get their checks for another five months? Good times, good times, good times, good times, good times. Yeah. Let’s move on. And to finish things off, Brazil is modernizing its bureaucratic system by harnessing the power of can you guess which blockchain and you guess which blockchain ethereal. Banco Centrale. I see. The country’s central bank recently launched a blockchain based data sharing tool that’s been in development is 2017. Of course it has. BCB has invested over a quarter of a million on the project. The platform for information integration of regulatory entities peer as that all those letters smash together is runs on the core from Blockchain, which is an ethereal based platform developed by banking giant JP Morgan for big enterprises once again, of course, because JP Morgan also just said that they’re going to be using the theory on blockchain, be in America’s reports that the blockchain solution also uses Microsoft’s Azor Azour as a assure cloud. Can I never know how to say that. And please, please don’t try and tell me, because you typing it in the comments section won’t allow me to understand how it’s most pronounced that I’ve seen. I’ve even seen people on TV mispronounce that many times as it can. Cloud computing service before peer financial regulators in Brazil relied on snail mail and letters to send inquiries and access data from other agencies. The process of getting a response could take weeks. What I don’t understand. It’s the year 2020. Even, you know, many movies in the 70s predicted by now that we would have floating cars and robots. And even if you go back to like around twenty, fifteen to twenty, twenty, sixteen, why is everyone still using actual mail? You know, there’s still countries when you want to get something done. I’ll never forget. I forgot what women. I don’t know about. I remember I was trying to turn off a phone service, where was I trying to turn off a phone? Mobile service. I had to go to the store to tell them that I wanted to turn my phone off. They handed me a piece of paper that I had to fill. This was in France that I had to fill out. And I think sign it and then mail it to the actual phone company that they had to then approve it in the mail it back to me. And I had to give that to the phone company. This was years ago, but it was still like. Why? Why, why? Why, why? No, no. You you you turn off my phone service. Why? Why should anything. Nothing should take weeks. I’ll never I’ll never listen to this. The fact that it takes even. A day, but nonetheless, still three to five to seven business days to be able to send money around the world is nonsense. I can copy and paste a book that has a thousand pages. Tens of thousands, if not hundreds of thousands of words. I can post that into an email and send it to you and you would get it in about a good twenty eight seconds. It makes no sense. It’s just numbers on a screen. Why does all of this take so long? It should not take weeks. For financial regulators or anyone to try and communicate with each other, the new theory and base financial database digitizes all paper-based data to expedite rapid and secure inter agency communication. Tasks are dramatically streamlined, reducing processing from hours and days to seconds. The platform also keeps track of queries. The point being, this is yet another government. I hope you’re paying attention. Who is going to be using ethereal? This is now like the seventh, eighth one. We keep hearing about them over and over. I assume I don’t know what it is. I don’t know what it could be like. I honestly don’t know. Like, it’s it’s very. There’s a reason why. There’s a reason there is a reason why we don’t hear governments launching things, issuing why JP Morgan Chase is in launching or using anything on Tron or Cardno or iOS, but it’s constantly ethereal. I assumed someone had there. They must have all been very, very big cookie jar that all the enterprise has got their hands into. In 2016, 2017. Maybe this is why they’re backing a theory. It has something to do with has something to do with financial interests. That much is clear. But to this extent is really insane when people don’t understand the significance of Brazil putting their financial database on a theorem. The significance of the Russian president having conversations with Vitaly butyrate and inviting him all these like you can find them on the same panel, like sitting near each other, talking to each other. Same exact thing with JP Morgan Chase. And I’m pretty sure that tons of other banks, we may just never actively hear that they themselves are using ethe cerium is insane, but alas. Yeah. Just understand that if proof of stake works. If the issue wins, rate ends up being cut for a theorem. And once again, I guess to bring it on home, if if proof of stake launches in July, we’re going to see massive momentum. BOERI Theorem why a world government is using it unless it is I as a part of a bigger plan. That sounds too ominous. But you get what I’m saying. There’s a there’s that there’s a reason why they’re using a theory and not anything else anyway. Let’s move on. A very special thank you to my pictorial borders, Professor Wally from Gundan by University Yashar. Hi, Daddy. Hey, I’m trying to it is in one breath. Man Hi X. Joshua Viniar, My Story of Josh Gorcyca Tongala, a little tongue, a little Nostromo, Most Typical John Starts Amrita Baby, a phobia barebones mining town of Embracing Mohammed only meets images in Thailand. Ready Neil Gerrish Nanowires 9 Altuve, which was at a world Krypto Joe banquet at what could Obama Luby’s? He quipped the article Didwe Kip Nicholas When Other People Love Demus has won an economy which which athird rich nicknames. QR’s Third Vlad the Impaler, Kimpton Midship May Pax ASTEAK modular running the new challenge. I’m gonna dhimmi fox minting coins, but his just half a million just Hebridean caskets like they used to Krypto body. But but in his happiness Moscona staff Ahmed X17 make me a cake. Take Romanis coupled with lot of Greninja. Crap. I was so close because I stumbled earlier Crayola Michelle u._r._l and hold on, I have to sneeze. Oh, now lightheaded. I was so close. Thank you so much for your support. Thank you to everyone who out there who is a supporter of the channel. Click the little join button below at. Oh, and also thank you to everyone who has been using my Amazon affiliate links. I mean. Wow. Like my mind. Wow. Thank you all very, very much for all your support. It is appreciated across the board. You’re all amazing, wonderful people at the moment. Cryptocurrency market looks a little crazy. We’re up like right about the end of being up, but we’re not up. If that makes any sense, we’re above 7000. But over the last 24 hours, we’ve kind of been on this really weird rollercoaster thing. All coins have remotely generally follow the same exact trend, the same exact movements. It looked like I can’t explain it before I started. Everything was kind of green, but I wasn’t like a light red, almost a pink. If you kind of want to give it that color. Tasos is still up. Catano is up by 8 percent. We’ll see exactly how that ends up working out as the day ends up going on. But yeah, no one knows what’s going on anymore. The cryptocurrency market should not be following any other traditional market, at least not Bitcoin, because Bitcoin. Is everything against the traditional financial market like everything that it is? Bitcoin is not. And this is why Bitcoin is special. Not to say that other coins aren’t special or amazing or fantastic, but if we just single out the first coin and what it’s in original intent and purpose were and is it still there? Everything still intact. So if we end up seeing stock markets doing very well later, I guess expect the cryptocurrency market to also follow it as well. Who knows what’s going to happen? It’s a wild, weird and wacky place. No, I said that, but that’s how. That’s how the market’s working right now. I am. I haven’t been this excited for something in a very long time. It’s really, you know, was really funny. Me and one of my friends, I’m not half joking. We planned on throwing a having party or like a having celebration. We were gonna have like dinner and have a bunch of sweets and all this other stuff. I like desserts. What have you. But, you know, we can’t now because life is different. But yeah, I’m very excited for the having. I’m not expecting. I mean, who knows? I was gonna say I’m not expecting any movements, but the crypto market always tend to surprise me. What is the actual having event to take place? I think is going to be major, at least for me. In my mind, anyway, I’m rambling on. I do hope you all enjoyed. Hope you all are having a great day. A great morning. A great afternoon. A great evening. Wherever you are, wherever you might be. I do hope that is absolutely an. Tactic. Thank you all once again for watching and or listening. And I will most certainly be talking to you all soon. See you.

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Bitcoin Price Action Libra Is Finished Explosive Demand Banks Go Down & Ethereum Database

VIDEO TRANSCRIPT

Hello, everybody, welcome back for another video. Hope you all doing well and that you’re all having an incredible day to start things off. Bitcoins upcoming mining rewards having has long been looked upon as a fundamental event that would help bolster its underlying strength and catalyze some immense upwards price action, the sentiment has been largely rooted in historical precedent as the benchmark cryptocurrency has long seen immense bull favoring volatility and the time directly preceding and following this event. It doesn’t seem as though the same can be said for the having that is occurring in just a few weeks from now. However, as this is the first time in Bitcoin’s decade long history that it is entering, its having with a negative 90 day re turn at the time of writing, Bitcoin’s mining rewards is slated to occur in about twenty five days. It depends on where you look. It depends on how much actual computing power that we have going towards the bitcoin network. A lot of people have been turning their computers off to people have been turning the computers on. There was news yesterday that I did not have in a video because it seemed completely pointless that we had re reached the mining capacity strength that we had seen before that we had dipped down from that had made major news because people had turned their computers off and they subsequently had turned them back on. So we were just back where we were about a good three, four weeks ago. So. Why have it in a video and is expected to take place on the 12th of March? It is not accurate, but we will see as we get closer. The event cuts the rewards that traders receive from producing blocks and have subsequently decreasing the cryptocurrencies annual inflation from 3.6 5 percent to 1.8 percent. After this ends up taking place, the having as an integral part of bitcoin being a deflationary currency and shines a spotlight on the importance of its existence during a backdrop of endless money printing and inflation. What we’re having right now, for those of you who do not see the title of said article, it says Bitcoin showing unprecedented pre having price action. We are currently in a situation where the cryptocurrency market is up. No one knows how far it is going to go up. But however, at the moment, I think bitcoin. Right. What does that keep happening, every video Bitcoin went up by around, I think 6 to 7 percent. I think he theorem was the. The winner, winner, chicken dinner. I think anywhere from 11 to 14 percent, depending on which place you saw the actual number. And at what time. The cryptocurrency market is seemingly doing very well. And when you look around once again, always, that’s how it always happens. It’s never clear cut and dry. There’s never an exact reason as to why prices are going up. As always, multiple things. A lot of people think. They assume that because we are getting closer to the having, therefore more people are jumping into the cryptocurrency space, they’re seemingly more interest. We’re getting a lot more. Google’s search results or people searching on Google for the term Bitcoin having we read about that about three, four days ago. I think it South Africa, Venezuela, Singapore, Switzerland, that place and the other places, I think is the 10 places in general that have like super high search results, just about the bitcoin having normally search results end up circling around Bitcoin’s price or bitcoin price predictions or bitcoin price today. However, that has shifted to the. SITUATION around the mining getting cut in half the money, we’re we’re getting cut of half. The other thing which people think. Is that it has to do with the governments around the world printing tons of money. I’m going to tell you honestly, I don’t think that that is a major cause of the cryptocurrency market going up. And I’ll tell you why. In the beginning, in the long, long ago, the entire idea or the. The word is in power, what? What cryptocurrencies were before has completely changed the idea of Bitcoin being a decentralized, super mega world powered for everyone and everything, cryptocurrency still remains. But it’s kind of on the fringe. It’s been pushed to the very ends of it in a lot of people. Many people just simply see Bitcoin as an investment vehicle way to make money. And this is why I believe whenever we see the traditional stock market go up or down, this is why the cryptocurrency market follows it, that a large part of the sentiment of the people who are within the space right now don’t care about decentralization. They don’t care about helping poor people. They don’t care about other people around the world. That has to do with how much money I can make from bitcoin. So whenever bitcoin or the stock market goes down, then therefore the cryptocurrency must air quotes go down because it’s also just another investment vehicle. It’s not something people have very limited form of foresight. A lot of people, many people don’t foresee a future. People people barely know what they’re going to do in their life the next three, four or five weeks. Nonetheless, what a cryptocurrency that can be used by billions of people on the planet. Permission Lassally where that’s gonna be in around 10 years. So a lot of the the current price action, I just it doesn’t really if if if I can say this, it doesn’t really bother me whether it goes up or down because I know that the future of the cryptocurrency space is going to be reliant on the old teachings. If you could kind of say that sounds kinda weird of what bitcoin in the cryptocurrency space used to be and still kind of are like the deflationary nature, the fact that you can send it anywhere, you know, the entire spiel. I don’t have to say the entire thing over again, but I think that will come into play as time ends up going on. And this is why I think a lot of people understand what they’re having is significant for, but a lot of other people just see it as another way to kind of. Who’s their portfolio up and make money? So the point to be made is currently the cryptocurrency market is up. However, at the exact same time and this is why I said I don’t think it’s the the printing of the stimulus money, if you will. As one says right here, April 17th, the European Stock Index futures surged more than 3 percent on Friday. As Donald Trump rolled out plans for a gradual reopening of the economy and on reports of a potential something, something for number 19. The situation that we have right now is that many world governments, a couple of them, a handful, an actual handful, are discussing the ideas of re opening the economy. This has been eye. This isn’t a political channel. So we’re just gonna kind of leave it at that. However, the point to be made is it appears that there is a lot of happy sentiment on the back of the idea that this might not last for another six to 18 months and therefore we could slowly see signs of a recovery and or things slowly opening back up. I think there was also news yesterday that Apple is also planning on starting to reopen their stores. I think the first one will be somewhere in Asia and they’ll kind of go in a store to store basis. So. Once again, the correlation between Bitcoin and the stock market is completely nonsensical, and I think that’s simply because people don’t understand still what Bitcoin is, and I know I said it rather ominously before I remember I was relistening to one of my videos and I was like, if they don’t know now, they will. And I adamy to have that kind of tone. But it’s the truth. A lot of people who don’t understand what this is for are really gonna be hit hard when they understand exactly what the point of bitcoin is. Yeah. The point to be made is prices are up. Who knows how long they will stay up? The pop, pop, pop, pop, pop. The stock markets in the Americas have yet to open. And I think that will be a good indicator if the stock markets are going to go up and if the cryptocurrency market will also go up. I really do. I don’t think and this is this is me. I feel like if people really understood what the significance of Bitcoin’s inflation rate going from 3.6 to one point eight percent like what the actual significance of that was, I think we’d have a a bitcoin price over at least ten thousand right now. For those of you who don’t know the the the dramatic significance is that normally we are told that the actual issuance rate or printing of money from governments around the world, they aim for a 2 percent inflation rate every year. However, this number is usually around 3 to 5 percent as governments sometimes over create. However, the fact that Bitcoin will officially be below those numbers, even if the official numbers from governments was 2 percent every single year, if the U.S. government was printing 2 percent more of their money than they had last year and bitcoin will mathematically we know this for fact because it’s on the blockchain will be 1.8 percent. That alone. I mean, the the idea that as time goes on, the less bitcoin that’s created by the network, the more valuable it will become as it’s deflationary and the inflationary currencies lose their value if you never look at a chart for the U.S. dollar over the last thing. No, I would say 90 years. I can remember the exact number for the chart. You see the U.S. dollar just being decimated in value. And on the flip side, we now have a deflationary currency which logically would become more worth more as time ends up going on anyway. I think people just don’t get it. I have friends and other non friends, friends of friends who ask me still, why bitcoin? Why? Why not something else? Like I invest in so-and-so, I and. I’m like, that’s not. You don’t get it. And I don’t have time to explain it to you. Just go read a book or something. Anyway, you know, the prices are up. So are the futures for the European stock market. And we’ll see exactly how this ends up continuing as the day unfolds before us. In your news, that’s everywhere news and I mean every single corner of the Internet. After a rocky road. Not the ice cream. With the United States Securities and Exchange Commission, key decision makers and Libra have gone back to the drawing board to retool their cryptocurrency platform to be more palatable to regulators. First of all, Libra has applied for a payment system license from the Swiss regulator for financial markets and the supervisory authority. This is a huge milestone on the way to some publicly usable Libra payment system. But there is still work to be done. Lieber’s licensing process will continue to require input from other central banks and financial regulatory authorities around the world. But the traction is positive for now. Libra is on its way to being able to make or to offer monetary and banking services, and I’ll get into exactly how all of that is just hubbub. There are also a number of underlying technical challenges taking place or changes. First is multi-currency stable coin L B R or just Libra. Be back by new stable coins instead of fiat currencies living in a bank account somewhere. Leber co-director David Marcus tweeted that the most notable evolutions in the creation of single currency stable coins like USD EU are and great British pound. In addition to the Libra coin, the updated design is made possible by a smart contract that ties together the fixed normal weights of underlying stable coins and also happens to limits Lieber’s flexibility. Some adding or removing since adding or removing a currency from the basket would require issuing or retiring another currency. Here is the major part to keep in mind. It says The major update is to the Libra White Paper, which has been retooled in light of the previously described the technical changes. The first version described Libra as a permission and network controlled by the Libra Association, and the plan was for it to go permissionless in the next five years working backwards. I know, you know. The fish in the sea knew and Facebook knew there was never going to be a point where Libra was going to be permissionless. Never. Not in this dimension. Not a next dimension. Not in any there’s there’s no timeline where Libra was going to be as permissionless as Bitcoin. Let’s just kind of get that out there. They said the original idea for Libra was and this is why a lot of people and why the cryptocurrency market reacted positively last June, I believe it was when they first mentioned this. The idea was that they would have a currency, a digital currency that would be released. This new currency will then go out into the wild. People around the world would use it. They would have a Libra wallet. And within this Leber wallet, they would add other cryptocurrencies and or digital assets. And therefore, people will be able to trade them at will back and forth. Remember the news even even more so. I mean, it all ties in as I’m as I’m going forward. The news that we have been talking about, how regulators. Want to regulate. And they want to know where this is going, why this is happening. The long and short of it is if they did not create it. It can not be. Or if it is to be, you better tell them exactly what’s happening at every single turn. And I think there was a bit of. The word is even backlash. It was it was it was angry lash, because the people from Leber pretty much said no, like we’re going to control this ourselves. And they said, we’re gonna do this. Oh, they also registered directly even last year. They erect the directly registered in Switzerland and not within the United States, which is also a big no no, because you got to tell daddy exactly what you’re doing. So what has happened over the last four hours? Like I said, it’s been everywhere. The original idea for Libra was to be just Libra. Backed by multiple paper currencies that changed in two Libra being backed by some fiat currencies, paper currencies and other assets, we don’t know if it was gonna be gold, if it was gonna be luxury real estate. No one knows exactly what that would have been pegged to. And then it evolved in to around August, September, they announced we’re not opposed to also launching stable coins. So it was going to be Libra alongside other stable coins. Now, that’s morphed into an I I assume this is what it is. The fact that they’re able to even continue with his roll out of it. Remember the discussion that we were having before that they are going there are going to be. Government issue stable coins that I mean, central bank digital currencies, I mean actual stable coins that are going to be used within the cryptocurrency space. I think cryptocurrency exchanges will eventually be forced mandated to use these. That is also an assumption. Who knows? But you kind of see where I’m going with all of this. And these, I believe, are what is going to be used through Libra, especially at night. Yeah, I think it’s actually correct if if you read around about it. I think it’s going to be. It’s meant to be stable coins in a backed by U.S. dollars that I think are under the purview of the CFTC and or the S.E.C. or some other letter. organization that is going to kind of have an overview of everything that LIBOR is actually doing. So now you have the entire original idea of labor has completely fallen apart. The news that we also had was that around October, this would all kind of get going. Now it appears, I think whereas it was somewhere which article was an engine design, a compliant transaction is a very near term dauntingly. I don’t know where it was. I read it in one of these four articles. I think apparently the the initial launch of Libra will not be for everyday people. I believe it’s going to be just for businesses, institutions and cryptocurrency exchanges in the beginning, because this is it. You’d better believe if they have so many problems with Facebook, even thinking of launching their own currency when they release the stable coins that are going to be backed by other official currencies U.S. dollar, the euro, British pound to the Singaporean dollar, you are probably going to have to be required to actually do it. A massive amount of KYC that’s know your customer stuff on Facebook to be able to use the platform. This was expected to roll out across Facebook Messenger and WhatsApp. And there’s another their fourth one, Instagram. These were the expectations. So just be aware. And about a good year from now, you’re going to see something pop up and it’s going to say, hey, upload an I.D.. No, upload an I.D.. No, no, no. Upload your. You’re going to be forced to actually do all of these things to actually try and use these these platforms. So as it stands right now. Libra, apparently. I don’t want to say is no more, but the original idea from it has completely fallen apart. Is this good for the cryptocurrency space? Maybe a lot of people believe that the actual usage of Libra or the launch of Libra was actually somewhat. Dare I say bullish or bitcoin, because we would get to see in real time how much LIBOR was issued on the basis or the connecting lines to fiat currency, we’d be able to see the inflation rate of Libra and the deflation rate of Bitcoin. And also it was expected because the people from Libra and Facebook had said they originally wanted to use Bitcoin as the actual currency on the platform, but they said it was simply too slow for what they were trying to do and therefore they created Libra. So the assumption was that all of this is that at some point they would add Bitcoin as a payment option on their platform. But once again, if governments have a problem with people using telegram tokens or kinne tokens, they probably would not have cared or it would have. They would not have liked if people were able to use bitcoin on another platform anyway. So, yeah, it looks like Libra is. Yep. It’s still going to launch looking very different. It’s going to it’s I can remember where exactly it said it it’s it’s going to just hit. Like institutions and banks first who are going to want to use it. Yeah, I mean. It’s not like it was going to. It’s not like it was going to take down a bitcoin, which is great for reference. Because remember, in 2019 when all those articles started popping up, you can find them type in like Facebook. Bitcoin, no, like Facebook. Libra, Bitcoin, 2019. As some articles start to pop up from like Forbes and Bloomberg, where they were predicting that Libra would be the downfall of Bitcoin and Libra was gonna be so big, that big. And I’m like, you don’t underst. This is a problem. People don’t understand what bitcoin is for them. It’s just a way to make money. It’s just a number on a screen that goes up and down. It means nothing to them. Besides that, like the reason why Bitcoin has survived this long is because it is permissionless. While me and you may buy, sell or hold trade, whatever we do on a daily basis. There are people around the world who billions of people around the world who do not have access to financial institutions, to banks, to anything. They’re actually buying up bitcoin in a bid to actually be able to transact and use might like it is. It is the new form of money. And this is why it’s very important. People keep overlooking the fact that last year Bitcoin did four times as much transactions as PayPal. Think about how they think about how popular PayPal is. Think about how many of you have used PayPal. I used to when I sold on eBay, I was using PayPal multiple times a day. Think of how popular and strong and well-known PayPal is. It’s on every single nearly every single payment Web site. Scroll to bottom. You see the two letters, bam, I can use PayPal. Now, imagine that Bitcoin been around for 10 years at this point. Did four times as much in transactions as that. One thing people continuously overlook. These these facts. And this is why I always say. The fundamentals were Bitcoin haven’t changed. Oh, yeah, whatever. Yeah. So that is the Leber news, that this news was everywhere and I assume it will continue over the next couple of days, I assume around around from Prempro, August. July. We’ll get like sprinkles of more news as to exactly how this is going to launch. But as it stands right now, Libra is. There’s no word that I can use for like done that rhymes with Leber, I was gonna say lowest like Libra is toast, but that’s not a word. Lieberals Lieberals lo look. Okay, let’s move on. I can’t find a word. This yeah, yeah, this is it as well. Four months after Circle pivoted to stable coins, the startup’s new business model has received an unexpected boost from the global nineteen. This was said by the CEO Jeremy a layer. U.S. dollar backed blockchain tokens are surging in popularity around the world, and this time much of the demand is for payments. In normal business transactions, not just to move money quickly between cryptocurrency exchanges. Oh, you know what I just remembered? Remember last year we were reading that article that apparently between China and Russia. I think it’s the I don’t know if it was Teather or the Sir Adam. I’m. I think it was Teather. That apparently people are using these currencies to trend this digital currency, to transact between each other like that, like the border of China and Russia. There’s like a market somewhere. And because they don’t want to have to swap back to currencies back and forth to actually do the what’s it called. That goes like a changing service. And they hand in the money that you get a terrible fee and and you go back across the border, you spend money this way. I think they’re just using stable coins, which is completely insane because this is kind of, you know, the point of them. But also, you get into that territory where governments are like, hey, you’re not you’re not you’re not using my money. That’s that’s the money I printed for you. And it creates this really weird like. This is this is the point of cryptocurrencies over the past several weeks, we have seen an explosive interest and growth in U.S. D.C., he said, referring to the stable coin circle issue is in partnership with Coinbase. This is clearly very significant global. There is clearly a very significant global demand for digital dollars and the use of digital dollars as a new payment to medium. New signups have come from e-commerce marketplaces, advertising networks, luxury good producers, recruiting platforms, digital content makers, peer to peer lending platforms, payment companies, software firms, professional services, reward businesses, mobile banking providers and other internet companies. We are getting feedback from Asian market participants that there is more and more demand for USD C from SMB seeking both the safety and utility of digital dollars, he said, using a term for small and medium sized enterprises without really having read much further. Here’s the actual growth chart right here. This is insane. And even if you go from this is March, this has to be around January, the beginning of this year. Do you see this spike? It’s this is also. Remember this where we just spoke about yesterday. It says G20 Group C stable coins as threat to financial stability is because they’re probably getting all these numbers, they see these charts. Do you understand the significance of someone creating a version of the of the a digital version of the dollar that was not created by the Fed? And to have it explode in popularity like this, like this is also the it’s a metric based off of the supply, but the supply is based off of how much money they have actually coming from investors who are putting it into this thing because the demand is also there, like as the demand rises for this coin. This is how much money gets put into the market. How many coins are distributed. This is why we see billions of dollars worth of Teather. So sayeth the Internet. Yeah. It’s a it’s a very fascinating time. This is from their charter from 2018 to now. That’s that’s roughly around seven hundred and twenty five million dollars just issued in the circle coin. Now imagine the Gemini dollar tether. I think Bynum’s also has a stable coin. I think who only has one as well. So imagine all this money flowing through these systems. And the government and the Fed aren’t part of it. This is why stable coins are now a threat, because they it’s so fascinating to see all of this unravel like right before our eyes, you understand the significance that you as a company are able to create your own, not only your own currency. I think that’s also something that people keep forgetting. And I and I it it waters down the significance of the cryptocurrency space when we have ten thousand currencies, because the idea of someone actually creating a cryptocurrency and or a currency that has actual use or a use case is major. We’ve never, ever in the history of ever been able to do this before. Anytime that any other company had tried to do this in the 90s, this is also if you look back. A lot of companies since the Internet, I won’t say, became more popular around ninety five to ninety eight to nineteen ninety nine, you can read about this online is all everywhere like Athena called Cypherpunks C Y P H E R Punks. They tried multiple times to create a digital version of the US dollar or just digital money that people could use back and forth. And the reason why bitcoin is so significant is because I gosh, what is it? It it passed the the business tene tolerance of the Byzantine fault. I came in what is called it other ways were always centralized ways of creating money and bitcoin blockchain that bitcoin bitcoin was on created a way that it was actually permissionless, that you just had to run a node and all the nodes would trust each other because they were all sharing the exact same information. That was something. I know it seems normal now, but years ago this was not anything that actually made sense of that could actually work. And this is why bitcoin is like is bitcoin because it was the first to be able to do so. You were unable all these other projects that had tried to launch their own digital version of anything or any dollar or any on money were completely shut down. If you read and the actual beginning of what pay power was meant to be, PayPal was meant to be something similar to Bitcoin, not the same as bitcoin obviously, but it was meant to be a digital dollar that you could kind of use online at your own behest to whatever you wanted to do. You could use it. I think it was around for about a good year, and that’s when governments were like, hey, what are you guys cooking over there? It smells good. And we don’t see we don’t see anything in our in our wallets. So this is kind of how PayPal got morphed. You can hear. I dunno if it’s the current head or the previous head of PayPal. He said as many times he’s a he. He loved the idea of bitcoin because it was reminiscent of what he was trying to do. Anyway, the entire point of this conversation is. Stable coins are. I want to say no. I was going to say they’re here to stay, but I we we we all know behind the scenes they are being dismantled in in rapid succession. I mean, when you you get stuff from from from from the G20 saying that stable coins are a threat to financial stability. That’s a that’s a that’s an issue. That means that your. The financial system, as it is right now, is just garbage and I mean complete and utter trash in every single possible way. If you have people look at this. This is two years, it takes two years for something to be to become financially unstable, like I feel like the creation of a digital version of the world’s most popular currency probably shouldn’t be. I don’t say there’s not a threat, but it’s very interesting to see. I’m I’m. Or a decentralized world. I hope for a world where I don’t know. I have I have a lot of hopes. I just kind of leave it at that because I could. That could go on. That could be a 15 minute segment in and of itself. But yet we’re seeing this happen all around the world. I wish I could find that article. It was definitely between China and Russia, where little markets there, they walk across the border and they are paying in stable coins because it’s an easier way for them to be able to transact. Anyway, I. I find news like this quite fascinating. Let’s move on. Next up, some U.S. banks have been unable to handle the increased demand generated by the stimulus checks being distributed to 80 million Americans. On the 15th of April, the online platforms for a U.S. bank, PNC and the fifth third banks went down, apparently unable to handle the inflow of stimulus. The inflow, not even the outflow, unable to handle the inflow of stimulus funds. On the 16th of April, some users of the online only Ali bank reported outages, with U.S. bank customers reporting outages or ongoing problems as well. Banks have shown they are unable to scale with the increasing demand. Shocking. Ironically, the lack of scalability is a typical criticism of Bitcoin and other blockchain networks that have been happily chugging along. In the meantime, without any hiccups. Àlex Smush Mushin, ski CEO and founder of Celsius Network, who is known for his critical stance for the banking industry, told KOIN Telegraph the issue highlighted problems with the legacy infrastructure. He said We live in this technological age and everybody can scale, but it’s not what’s happening, but it’s not worth it. Yes, that was happening, but the government is still printing physical checks and sending it to people in the mail, which still blows my mind. Once again, to understand if you are not in the states. Other places around the world don’t use cheques even crazier. There are parts of the world where there are people who are without homes on the street and they actually have like QR codes hanging from their necks. And you kind of walk up to them and you scan them. Checks are no longer a thing in many other parts of the world, so the idea of having to print out a check and then mail it to someone and then they have to take that to a bank and or to a a check cashing place is very 1960s, very 1970s. The other point being, that’s the inflow of funds that has nothing to do with the people even trying to take their money out. The antiquated system is going to remain antiquated. There is nothing in my mind that tells me within the next two years that the debt, the current banking system is going to try to reinvent or to remake itself. There’s there’s too much there are too many old cables, literal old cables lying around for any of that to kind of. Be revamped or replaced in the in the in the ever. But yeah, here’s the actual article that it is referencing. It says U.S. Bank, PNC Fifth Third Bank down as money checks money. Millions check accounts. More stimulus checks are real. The part is that with more than 80 million Americans expected to receive their checks via direct deposit today, online platforms for banks, including the likes of those three, went down as they were flooded with demand. Customers have issued reports with other banks as well, including Bank of America, TDE Bank and and T Terrible. But once again, logic doesn’t really reside in the minds of many. Can you imagine how crazy this would have been? I mean, stay with me for a second. Once again, this would never happen. But if this check had been released, handed out, distributed. And they will like everyone. You can choose five different ways you can get your check directly in Bitcoin. You can get your check directly in lumens and SRP and ether or like coin you choose and you go on the website because it’s the year 2020 and we should have websites like this. You type in your name, you type in information, you type in your social, and then you type of what coin you want and the address and we’ll get it to you. See, the crazy part is that that’s all possible, like that’s actually all possible directly right now, like what I said to you is a complete fantasy because we know the dojo. TIBBETT But the other point of it being what I said is into other worldly or undoable like we can we can do that today, especially with smart contracts. You can set up smart contracts that have a certain amount of money inside of them and it checks all of the actual addresses and start shooting out money in different directions. That’s how blockchain works. Unless you are in this situation again and this also doesn’t even count in the other what you might call it. What was I going to say? The other what was it like, 50 or 60 million people who won’t get their checks for another five months? Good times, good times, good times, good times, good times. Yeah. Let’s move on. And to finish things off, Brazil is modernizing its bureaucratic system by harnessing the power of can you guess which blockchain and you guess which blockchain ethereal. Banco Centrale. I see. The country’s central bank recently launched a blockchain based data sharing tool that’s been in development is 2017. Of course it has. BCB has invested over a quarter of a million on the project. The platform for information integration of regulatory entities peer as that all those letters smash together is runs on the core from Blockchain, which is an ethereal based platform developed by banking giant JP Morgan for big enterprises once again, of course, because JP Morgan also just said that they’re going to be using the theory on blockchain, be in America’s reports that the blockchain solution also uses Microsoft’s Azor Azour as a assure cloud. Can I never know how to say that. And please, please don’t try and tell me, because you typing it in the comments section won’t allow me to understand how it’s most pronounced that I’ve seen. I’ve even seen people on TV mispronounce that many times as it can. Cloud computing service before peer financial regulators in Brazil relied on snail mail and letters to send inquiries and access data from other agencies. The process of getting a response could take weeks. What I don’t understand. It’s the year 2020. Even, you know, many movies in the 70s predicted by now that we would have floating cars and robots. And even if you go back to like around twenty, fifteen to twenty, twenty, sixteen, why is everyone still using actual mail? You know, there’s still countries when you want to get something done. I’ll never forget. I forgot what women. I don’t know about. I remember I was trying to turn off a phone service, where was I trying to turn off a phone? Mobile service. I had to go to the store to tell them that I wanted to turn my phone off. They handed me a piece of paper that I had to fill. This was in France that I had to fill out. And I think sign it and then mail it to the actual phone company that they had to then approve it in the mail it back to me. And I had to give that to the phone company. This was years ago, but it was still like. Why? Why, why? Why, why? No, no. You you you turn off my phone service. Why? Why should anything. Nothing should take weeks. I’ll never I’ll never listen to this. The fact that it takes even. A day, but nonetheless, still three to five to seven business days to be able to send money around the world is nonsense. I can copy and paste a book that has a thousand pages. Tens of thousands, if not hundreds of thousands of words. I can post that into an email and send it to you and you would get it in about a good twenty eight seconds. It makes no sense. It’s just numbers on a screen. Why does all of this take so long? It should not take weeks. For financial regulators or anyone to try and communicate with each other, the new theory and base financial database digitizes all paper-based data to expedite rapid and secure inter agency communication. Tasks are dramatically streamlined, reducing processing from hours and days to seconds. The platform also keeps track of queries. The point being, this is yet another government. I hope you’re paying attention. Who is going to be using ethereal? This is now like the seventh, eighth one. We keep hearing about them over and over. I assume I don’t know what it is. I don’t know what it could be like. I honestly don’t know. Like, it’s it’s very. There’s a reason why. There’s a reason there is a reason why we don’t hear governments launching things, issuing why JP Morgan Chase is in launching or using anything on Tron or Cardno or iOS, but it’s constantly ethereal. I assumed someone had there. They must have all been very, very big cookie jar that all the enterprise has got their hands into. In 2016, 2017. Maybe this is why they’re backing a theory. It has something to do with has something to do with financial interests. That much is clear. But to this extent is really insane when people don’t understand the significance of Brazil putting their financial database on a theorem. The significance of the Russian president having conversations with Vitaly butyrate and inviting him all these like you can find them on the same panel, like sitting near each other, talking to each other. Same exact thing with JP Morgan Chase. And I’m pretty sure that tons of other banks, we may just never actively hear that they themselves are using ethe cerium is insane, but alas. Yeah. Just understand that if proof of stake works. If the issue wins, rate ends up being cut for a theorem. And once again, I guess to bring it on home, if if proof of stake launches in July, we’re going to see massive momentum. BOERI Theorem why a world government is using it unless it is I as a part of a bigger plan. That sounds too ominous. But you get what I’m saying. There’s a there’s that there’s a reason why they’re using a theory and not anything else anyway. Let’s move on. A very special thank you to my pictorial borders, Professor Wally from Gundan by University Yashar. Hi, Daddy. Hey, I’m trying to it is in one breath. Man Hi X. Joshua Viniar, My Story of Josh Gorcyca Tongala, a little tongue, a little Nostromo, Most Typical John Starts Amrita Baby, a phobia barebones mining town of Embracing Mohammed only meets images in Thailand. Ready Neil Gerrish Nanowires 9 Altuve, which was at a world Krypto Joe banquet at what could Obama Luby’s? He quipped the article Didwe Kip Nicholas When Other People Love Demus has won an economy which which athird rich nicknames. QR’s Third Vlad the Impaler, Kimpton Midship May Pax ASTEAK modular running the new challenge. I’m gonna dhimmi fox minting coins, but his just half a million just Hebridean caskets like they used to Krypto body. But but in his happiness Moscona staff Ahmed X17 make me a cake. Take Romanis coupled with lot of Greninja. Crap. I was so close because I stumbled earlier Crayola Michelle u._r._l and hold on, I have to sneeze. Oh, now lightheaded. I was so close. Thank you so much for your support. Thank you to everyone who out there who is a supporter of the channel. Click the little join button below at. Oh, and also thank you to everyone who has been using my Amazon affiliate links. I mean. Wow. Like my mind. Wow. Thank you all very, very much for all your support. It is appreciated across the board. You’re all amazing, wonderful people at the moment. Cryptocurrency market looks a little crazy. We’re up like right about the end of being up, but we’re not up. If that makes any sense, we’re above 7000. But over the last 24 hours, we’ve kind of been on this really weird rollercoaster thing. All coins have remotely generally follow the same exact trend, the same exact movements. It looked like I can’t explain it before I started. Everything was kind of green, but I wasn’t like a light red, almost a pink. If you kind of want to give it that color. Tasos is still up. Catano is up by 8 percent. We’ll see exactly how that ends up working out as the day ends up going on. But yeah, no one knows what’s going on anymore. The cryptocurrency market should not be following any other traditional market, at least not Bitcoin, because Bitcoin. Is everything against the traditional financial market like everything that it is? Bitcoin is not. And this is why Bitcoin is special. Not to say that other coins aren’t special or amazing or fantastic, but if we just single out the first coin and what it’s in original intent and purpose were and is it still there? Everything still intact. So if we end up seeing stock markets doing very well later, I guess expect the cryptocurrency market to also follow it as well. Who knows what’s going to happen? It’s a wild, weird and wacky place. No, I said that, but that’s how. That’s how the market’s working right now. I am. I haven’t been this excited for something in a very long time. It’s really, you know, was really funny. Me and one of my friends, I’m not half joking. We planned on throwing a having party or like a having celebration. We were gonna have like dinner and have a bunch of sweets and all this other stuff. I like desserts. What have you. But, you know, we can’t now because life is different. But yeah, I’m very excited for the having. I’m not expecting. I mean, who knows? I was gonna say I’m not expecting any movements, but the crypto market always tend to surprise me. What is the actual having event to take place? I think is going to be major, at least for me. In my mind, anyway, I’m rambling on. I do hope you all enjoyed. Hope you all are having a great day. A great morning. A great afternoon. A great evening. Wherever you are, wherever you might be. I do hope that is absolutely an. Tactic. Thank you all once again for watching and or listening. And I will most certainly be talking to you all soon. See you.

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source https://cryptosharks.weebly.com/blog/bitcoin-price-action-libra-is-finished-explosive-demand-banks-go-down-ethereum-database

Bitcoin Price Action, Libra Is Finished, Explosive Demand, Banks Go Down & Ethereum Database

VIDEO TRANSCRIPT

Hello, everybody, welcome back for another video. Hope you all doing well and that you’re all having an incredible day to start things off. Bitcoins upcoming mining rewards having has long been looked upon as a fundamental event that would help bolster its underlying strength and catalyze some immense upwards price action, the sentiment has been largely rooted in historical precedent as the benchmark cryptocurrency has long seen immense bull favoring volatility and the time directly preceding and following this event. It doesn’t seem as though the same can be said for the having that is occurring in just a few weeks from now. However, as this is the first time in Bitcoin’s decade long history that it is entering, its having with a negative 90 day re turn at the time of writing, Bitcoin’s mining rewards is slated to occur in about twenty five days. It depends on where you look. It depends on how much actual computing power that we have going towards the bitcoin network. A lot of people have been turning their computers off to people have been turning the computers on. There was news yesterday that I did not have in a video because it seemed completely pointless that we had re reached the mining capacity strength that we had seen before that we had dipped down from that had made major news because people had turned their computers off and they subsequently had turned them back on. So we were just back where we were about a good three, four weeks ago. So. Why have it in a video and is expected to take place on the 12th of March? It is not accurate, but we will see as we get closer. The event cuts the rewards that traders receive from producing blocks and have subsequently decreasing the cryptocurrencies annual inflation from 3.6 5 percent to 1.8 percent. After this ends up taking place, the having as an integral part of bitcoin being a deflationary currency and shines a spotlight on the importance of its existence during a backdrop of endless money printing and inflation. What we’re having right now, for those of you who do not see the title of said article, it says Bitcoin showing unprecedented pre having price action. We are currently in a situation where the cryptocurrency market is up. No one knows how far it is going to go up. But however, at the moment, I think bitcoin. Right. What does that keep happening, every video Bitcoin went up by around, I think 6 to 7 percent. I think he theorem was the. The winner, winner, chicken dinner. I think anywhere from 11 to 14 percent, depending on which place you saw the actual number. And at what time. The cryptocurrency market is seemingly doing very well. And when you look around once again, always, that’s how it always happens. It’s never clear cut and dry. There’s never an exact reason as to why prices are going up. As always, multiple things. A lot of people think. They assume that because we are getting closer to the having, therefore more people are jumping into the cryptocurrency space, they’re seemingly more interest. We’re getting a lot more. Google’s search results or people searching on Google for the term Bitcoin having we read about that about three, four days ago. I think it South Africa, Venezuela, Singapore, Switzerland, that place and the other places, I think is the 10 places in general that have like super high search results, just about the bitcoin having normally search results end up circling around Bitcoin’s price or bitcoin price predictions or bitcoin price today. However, that has shifted to the. SITUATION around the mining getting cut in half the money, we’re we’re getting cut of half. The other thing which people think. Is that it has to do with the governments around the world printing tons of money. I’m going to tell you honestly, I don’t think that that is a major cause of the cryptocurrency market going up. And I’ll tell you why. In the beginning, in the long, long ago, the entire idea or the. The word is in power, what? What cryptocurrencies were before has completely changed the idea of Bitcoin being a decentralized, super mega world powered for everyone and everything, cryptocurrency still remains. But it’s kind of on the fringe. It’s been pushed to the very ends of it in a lot of people. Many people just simply see Bitcoin as an investment vehicle way to make money. And this is why I believe whenever we see the traditional stock market go up or down, this is why the cryptocurrency market follows it, that a large part of the sentiment of the people who are within the space right now don’t care about decentralization. They don’t care about helping poor people. They don’t care about other people around the world. That has to do with how much money I can make from bitcoin. So whenever bitcoin or the stock market goes down, then therefore the cryptocurrency must air quotes go down because it’s also just another investment vehicle. It’s not something people have very limited form of foresight. A lot of people, many people don’t foresee a future. People people barely know what they’re going to do in their life the next three, four or five weeks. Nonetheless, what a cryptocurrency that can be used by billions of people on the planet. Permission Lassally where that’s gonna be in around 10 years. So a lot of the the current price action, I just it doesn’t really if if if I can say this, it doesn’t really bother me whether it goes up or down because I know that the future of the cryptocurrency space is going to be reliant on the old teachings. If you could kind of say that sounds kinda weird of what bitcoin in the cryptocurrency space used to be and still kind of are like the deflationary nature, the fact that you can send it anywhere, you know, the entire spiel. I don’t have to say the entire thing over again, but I think that will come into play as time ends up going on. And this is why I think a lot of people understand what they’re having is significant for, but a lot of other people just see it as another way to kind of. Who’s their portfolio up and make money? So the point to be made is currently the cryptocurrency market is up. However, at the exact same time and this is why I said I don’t think it’s the the printing of the stimulus money, if you will. As one says right here, April 17th, the European Stock Index futures surged more than 3 percent on Friday. As Donald Trump rolled out plans for a gradual reopening of the economy and on reports of a potential something, something for number 19. The situation that we have right now is that many world governments, a couple of them, a handful, an actual handful, are discussing the ideas of re opening the economy. This has been eye. This isn’t a political channel. So we’re just gonna kind of leave it at that. However, the point to be made is it appears that there is a lot of happy sentiment on the back of the idea that this might not last for another six to 18 months and therefore we could slowly see signs of a recovery and or things slowly opening back up. I think there was also news yesterday that Apple is also planning on starting to reopen their stores. I think the first one will be somewhere in Asia and they’ll kind of go in a store to store basis. So. Once again, the correlation between Bitcoin and the stock market is completely nonsensical, and I think that’s simply because people don’t understand still what Bitcoin is, and I know I said it rather ominously before I remember I was relistening to one of my videos and I was like, if they don’t know now, they will. And I adamy to have that kind of tone. But it’s the truth. A lot of people who don’t understand what this is for are really gonna be hit hard when they understand exactly what the point of bitcoin is. Yeah. The point to be made is prices are up. Who knows how long they will stay up? The pop, pop, pop, pop, pop. The stock markets in the Americas have yet to open. And I think that will be a good indicator if the stock markets are going to go up and if the cryptocurrency market will also go up. I really do. I don’t think and this is this is me. I feel like if people really understood what the significance of Bitcoin’s inflation rate going from 3.6 to one point eight percent like what the actual significance of that was, I think we’d have a a bitcoin price over at least ten thousand right now. For those of you who don’t know the the the dramatic significance is that normally we are told that the actual issuance rate or printing of money from governments around the world, they aim for a 2 percent inflation rate every year. However, this number is usually around 3 to 5 percent as governments sometimes over create. However, the fact that Bitcoin will officially be below those numbers, even if the official numbers from governments was 2 percent every single year, if the U.S. government was printing 2 percent more of their money than they had last year and bitcoin will mathematically we know this for fact because it’s on the blockchain will be 1.8 percent. That alone. I mean, the the idea that as time goes on, the less bitcoin that’s created by the network, the more valuable it will become as it’s deflationary and the inflationary currencies lose their value if you never look at a chart for the U.S. dollar over the last thing. No, I would say 90 years. I can remember the exact number for the chart. You see the U.S. dollar just being decimated in value. And on the flip side, we now have a deflationary currency which logically would become more worth more as time ends up going on anyway. I think people just don’t get it. I have friends and other non friends, friends of friends who ask me still, why bitcoin? Why? Why not something else? Like I invest in so-and-so, I and. I’m like, that’s not. You don’t get it. And I don’t have time to explain it to you. Just go read a book or something. Anyway, you know, the prices are up. So are the futures for the European stock market. And we’ll see exactly how this ends up continuing as the day unfolds before us. In your news, that’s everywhere news and I mean every single corner of the Internet. After a rocky road. Not the ice cream. With the United States Securities and Exchange Commission, key decision makers and Libra have gone back to the drawing board to retool their cryptocurrency platform to be more palatable to regulators. First of all, Libra has applied for a payment system license from the Swiss regulator for financial markets and the supervisory authority. This is a huge milestone on the way to some publicly usable Libra payment system. But there is still work to be done. Lieber’s licensing process will continue to require input from other central banks and financial regulatory authorities around the world. But the traction is positive for now. Libra is on its way to being able to make or to offer monetary and banking services, and I’ll get into exactly how all of that is just hubbub. There are also a number of underlying technical challenges taking place or changes. First is multi-currency stable coin L B R or just Libra. Be back by new stable coins instead of fiat currencies living in a bank account somewhere. Leber co-director David Marcus tweeted that the most notable evolutions in the creation of single currency stable coins like USD EU are and great British pound. In addition to the Libra coin, the updated design is made possible by a smart contract that ties together the fixed normal weights of underlying stable coins and also happens to limits Lieber’s flexibility. Some adding or removing since adding or removing a currency from the basket would require issuing or retiring another currency. Here is the major part to keep in mind. It says The major update is to the Libra White Paper, which has been retooled in light of the previously described the technical changes. The first version described Libra as a permission and network controlled by the Libra Association, and the plan was for it to go permissionless in the next five years working backwards. I know, you know. The fish in the sea knew and Facebook knew there was never going to be a point where Libra was going to be permissionless. Never. Not in this dimension. Not a next dimension. Not in any there’s there’s no timeline where Libra was going to be as permissionless as Bitcoin. Let’s just kind of get that out there. They said the original idea for Libra was and this is why a lot of people and why the cryptocurrency market reacted positively last June, I believe it was when they first mentioned this. The idea was that they would have a currency, a digital currency that would be released. This new currency will then go out into the wild. People around the world would use it. They would have a Libra wallet. And within this Leber wallet, they would add other cryptocurrencies and or digital assets. And therefore, people will be able to trade them at will back and forth. Remember the news even even more so. I mean, it all ties in as I’m as I’m going forward. The news that we have been talking about, how regulators. Want to regulate. And they want to know where this is going, why this is happening. The long and short of it is if they did not create it. It can not be. Or if it is to be, you better tell them exactly what’s happening at every single turn. And I think there was a bit of. The word is even backlash. It was it was it was angry lash, because the people from Leber pretty much said no, like we’re going to control this ourselves. And they said, we’re gonna do this. Oh, they also registered directly even last year. They erect the directly registered in Switzerland and not within the United States, which is also a big no no, because you got to tell daddy exactly what you’re doing. So what has happened over the last four hours? Like I said, it’s been everywhere. The original idea for Libra was to be just Libra. Backed by multiple paper currencies that changed in two Libra being backed by some fiat currencies, paper currencies and other assets, we don’t know if it was gonna be gold, if it was gonna be luxury real estate. No one knows exactly what that would have been pegged to. And then it evolved in to around August, September, they announced we’re not opposed to also launching stable coins. So it was going to be Libra alongside other stable coins. Now, that’s morphed into an I I assume this is what it is. The fact that they’re able to even continue with his roll out of it. Remember the discussion that we were having before that they are going there are going to be. Government issue stable coins that I mean, central bank digital currencies, I mean actual stable coins that are going to be used within the cryptocurrency space. I think cryptocurrency exchanges will eventually be forced mandated to use these. That is also an assumption. Who knows? But you kind of see where I’m going with all of this. And these, I believe, are what is going to be used through Libra, especially at night. Yeah, I think it’s actually correct if if you read around about it. I think it’s going to be. It’s meant to be stable coins in a backed by U.S. dollars that I think are under the purview of the CFTC and or the S.E.C. or some other letter. organization that is going to kind of have an overview of everything that LIBOR is actually doing. So now you have the entire original idea of labor has completely fallen apart. The news that we also had was that around October, this would all kind of get going. Now it appears, I think whereas it was somewhere which article was an engine design, a compliant transaction is a very near term dauntingly. I don’t know where it was. I read it in one of these four articles. I think apparently the the initial launch of Libra will not be for everyday people. I believe it’s going to be just for businesses, institutions and cryptocurrency exchanges in the beginning, because this is it. You’d better believe if they have so many problems with Facebook, even thinking of launching their own currency when they release the stable coins that are going to be backed by other official currencies U.S. dollar, the euro, British pound to the Singaporean dollar, you are probably going to have to be required to actually do it. A massive amount of KYC that’s know your customer stuff on Facebook to be able to use the platform. This was expected to roll out across Facebook Messenger and WhatsApp. And there’s another their fourth one, Instagram. These were the expectations. So just be aware. And about a good year from now, you’re going to see something pop up and it’s going to say, hey, upload an I.D.. No, upload an I.D.. No, no, no. Upload your. You’re going to be forced to actually do all of these things to actually try and use these these platforms. So as it stands right now. Libra, apparently. I don’t want to say is no more, but the original idea from it has completely fallen apart. Is this good for the cryptocurrency space? Maybe a lot of people believe that the actual usage of Libra or the launch of Libra was actually somewhat. Dare I say bullish or bitcoin, because we would get to see in real time how much LIBOR was issued on the basis or the connecting lines to fiat currency, we’d be able to see the inflation rate of Libra and the deflation rate of Bitcoin. And also it was expected because the people from Libra and Facebook had said they originally wanted to use Bitcoin as the actual currency on the platform, but they said it was simply too slow for what they were trying to do and therefore they created Libra. So the assumption was that all of this is that at some point they would add Bitcoin as a payment option on their platform. But once again, if governments have a problem with people using telegram tokens or kinne tokens, they probably would not have cared or it would have. They would not have liked if people were able to use bitcoin on another platform anyway. So, yeah, it looks like Libra is. Yep. It’s still going to launch looking very different. It’s going to it’s I can remember where exactly it said it it’s it’s going to just hit. Like institutions and banks first who are going to want to use it. Yeah, I mean. It’s not like it was going to. It’s not like it was going to take down a bitcoin, which is great for reference. Because remember, in 2019 when all those articles started popping up, you can find them type in like Facebook. Bitcoin, no, like Facebook. Libra, Bitcoin, 2019. As some articles start to pop up from like Forbes and Bloomberg, where they were predicting that Libra would be the downfall of Bitcoin and Libra was gonna be so big, that big. And I’m like, you don’t underst. This is a problem. People don’t understand what bitcoin is for them. It’s just a way to make money. It’s just a number on a screen that goes up and down. It means nothing to them. Besides that, like the reason why Bitcoin has survived this long is because it is permissionless. While me and you may buy, sell or hold trade, whatever we do on a daily basis. There are people around the world who billions of people around the world who do not have access to financial institutions, to banks, to anything. They’re actually buying up bitcoin in a bid to actually be able to transact and use might like it is. It is the new form of money. And this is why it’s very important. People keep overlooking the fact that last year Bitcoin did four times as much transactions as PayPal. Think about how they think about how popular PayPal is. Think about how many of you have used PayPal. I used to when I sold on eBay, I was using PayPal multiple times a day. Think of how popular and strong and well-known PayPal is. It’s on every single nearly every single payment Web site. Scroll to bottom. You see the two letters, bam, I can use PayPal. Now, imagine that Bitcoin been around for 10 years at this point. Did four times as much in transactions as that. One thing people continuously overlook. These these facts. And this is why I always say. The fundamentals were Bitcoin haven’t changed. Oh, yeah, whatever. Yeah. So that is the Leber news, that this news was everywhere and I assume it will continue over the next couple of days, I assume around around from Prempro, August. July. We’ll get like sprinkles of more news as to exactly how this is going to launch. But as it stands right now, Libra is. There’s no word that I can use for like done that rhymes with Leber, I was gonna say lowest like Libra is toast, but that’s not a word. Lieberals Lieberals lo look. Okay, let’s move on. I can’t find a word. This yeah, yeah, this is it as well. Four months after Circle pivoted to stable coins, the startup’s new business model has received an unexpected boost from the global nineteen. This was said by the CEO Jeremy a layer. U.S. dollar backed blockchain tokens are surging in popularity around the world, and this time much of the demand is for payments. In normal business transactions, not just to move money quickly between cryptocurrency exchanges. Oh, you know what I just remembered? Remember last year we were reading that article that apparently between China and Russia. I think it’s the I don’t know if it was Teather or the Sir Adam. I’m. I think it was Teather. That apparently people are using these currencies to trend this digital currency, to transact between each other like that, like the border of China and Russia. There’s like a market somewhere. And because they don’t want to have to swap back to currencies back and forth to actually do the what’s it called. That goes like a changing service. And they hand in the money that you get a terrible fee and and you go back across the border, you spend money this way. I think they’re just using stable coins, which is completely insane because this is kind of, you know, the point of them. But also, you get into that territory where governments are like, hey, you’re not you’re not you’re not using my money. That’s that’s the money I printed for you. And it creates this really weird like. This is this is the point of cryptocurrencies over the past several weeks, we have seen an explosive interest and growth in U.S. D.C., he said, referring to the stable coin circle issue is in partnership with Coinbase. This is clearly very significant global. There is clearly a very significant global demand for digital dollars and the use of digital dollars as a new payment to medium. New signups have come from e-commerce marketplaces, advertising networks, luxury good producers, recruiting platforms, digital content makers, peer to peer lending platforms, payment companies, software firms, professional services, reward businesses, mobile banking providers and other internet companies. We are getting feedback from Asian market participants that there is more and more demand for USD C from SMB seeking both the safety and utility of digital dollars, he said, using a term for small and medium sized enterprises without really having read much further. Here’s the actual growth chart right here. This is insane. And even if you go from this is March, this has to be around January, the beginning of this year. Do you see this spike? It’s this is also. Remember this where we just spoke about yesterday. It says G20 Group C stable coins as threat to financial stability is because they’re probably getting all these numbers, they see these charts. Do you understand the significance of someone creating a version of the of the a digital version of the dollar that was not created by the Fed? And to have it explode in popularity like this, like this is also the it’s a metric based off of the supply, but the supply is based off of how much money they have actually coming from investors who are putting it into this thing because the demand is also there, like as the demand rises for this coin. This is how much money gets put into the market. How many coins are distributed. This is why we see billions of dollars worth of Teather. So sayeth the Internet. Yeah. It’s a it’s a very fascinating time. This is from their charter from 2018 to now. That’s that’s roughly around seven hundred and twenty five million dollars just issued in the circle coin. Now imagine the Gemini dollar tether. I think Bynum’s also has a stable coin. I think who only has one as well. So imagine all this money flowing through these systems. And the government and the Fed aren’t part of it. This is why stable coins are now a threat, because they it’s so fascinating to see all of this unravel like right before our eyes, you understand the significance that you as a company are able to create your own, not only your own currency. I think that’s also something that people keep forgetting. And I and I it it waters down the significance of the cryptocurrency space when we have ten thousand currencies, because the idea of someone actually creating a cryptocurrency and or a currency that has actual use or a use case is major. We’ve never, ever in the history of ever been able to do this before. Anytime that any other company had tried to do this in the 90s, this is also if you look back. A lot of companies since the Internet, I won’t say, became more popular around ninety five to ninety eight to nineteen ninety nine, you can read about this online is all everywhere like Athena called Cypherpunks C Y P H E R Punks. They tried multiple times to create a digital version of the US dollar or just digital money that people could use back and forth. And the reason why bitcoin is so significant is because I gosh, what is it? It it passed the the business tene tolerance of the Byzantine fault. I came in what is called it other ways were always centralized ways of creating money and bitcoin blockchain that bitcoin bitcoin was on created a way that it was actually permissionless, that you just had to run a node and all the nodes would trust each other because they were all sharing the exact same information. That was something. I know it seems normal now, but years ago this was not anything that actually made sense of that could actually work. And this is why bitcoin is like is bitcoin because it was the first to be able to do so. You were unable all these other projects that had tried to launch their own digital version of anything or any dollar or any on money were completely shut down. If you read and the actual beginning of what pay power was meant to be, PayPal was meant to be something similar to Bitcoin, not the same as bitcoin obviously, but it was meant to be a digital dollar that you could kind of use online at your own behest to whatever you wanted to do. You could use it. I think it was around for about a good year, and that’s when governments were like, hey, what are you guys cooking over there? It smells good. And we don’t see we don’t see anything in our in our wallets. So this is kind of how PayPal got morphed. You can hear. I dunno if it’s the current head or the previous head of PayPal. He said as many times he’s a he. He loved the idea of bitcoin because it was reminiscent of what he was trying to do. Anyway, the entire point of this conversation is. Stable coins are. I want to say no. I was going to say they’re here to stay, but I we we we all know behind the scenes they are being dismantled in in rapid succession. I mean, when you you get stuff from from from from the G20 saying that stable coins are a threat to financial stability. That’s a that’s a that’s an issue. That means that your. The financial system, as it is right now, is just garbage and I mean complete and utter trash in every single possible way. If you have people look at this. This is two years, it takes two years for something to be to become financially unstable, like I feel like the creation of a digital version of the world’s most popular currency probably shouldn’t be. I don’t say there’s not a threat, but it’s very interesting to see. I’m I’m. Or a decentralized world. I hope for a world where I don’t know. I have I have a lot of hopes. I just kind of leave it at that because I could. That could go on. That could be a 15 minute segment in and of itself. But yet we’re seeing this happen all around the world. I wish I could find that article. It was definitely between China and Russia, where little markets there, they walk across the border and they are paying in stable coins because it’s an easier way for them to be able to transact. Anyway, I. I find news like this quite fascinating. Let’s move on. Next up, some U.S. banks have been unable to handle the increased demand generated by the stimulus checks being distributed to 80 million Americans. On the 15th of April, the online platforms for a U.S. bank, PNC and the fifth third banks went down, apparently unable to handle the inflow of stimulus. The inflow, not even the outflow, unable to handle the inflow of stimulus funds. On the 16th of April, some users of the online only Ali bank reported outages, with U.S. bank customers reporting outages or ongoing problems as well. Banks have shown they are unable to scale with the increasing demand. Shocking. Ironically, the lack of scalability is a typical criticism of Bitcoin and other blockchain networks that have been happily chugging along. In the meantime, without any hiccups. Àlex Smush Mushin, ski CEO and founder of Celsius Network, who is known for his critical stance for the banking industry, told KOIN Telegraph the issue highlighted problems with the legacy infrastructure. He said We live in this technological age and everybody can scale, but it’s not what’s happening, but it’s not worth it. Yes, that was happening, but the government is still printing physical checks and sending it to people in the mail, which still blows my mind. Once again, to understand if you are not in the states. Other places around the world don’t use cheques even crazier. There are parts of the world where there are people who are without homes on the street and they actually have like QR codes hanging from their necks. And you kind of walk up to them and you scan them. Checks are no longer a thing in many other parts of the world, so the idea of having to print out a check and then mail it to someone and then they have to take that to a bank and or to a a check cashing place is very 1960s, very 1970s. The other point being, that’s the inflow of funds that has nothing to do with the people even trying to take their money out. The antiquated system is going to remain antiquated. There is nothing in my mind that tells me within the next two years that the debt, the current banking system is going to try to reinvent or to remake itself. There’s there’s too much there are too many old cables, literal old cables lying around for any of that to kind of. Be revamped or replaced in the in the in the ever. But yeah, here’s the actual article that it is referencing. It says U.S. Bank, PNC Fifth Third Bank down as money checks money. Millions check accounts. More stimulus checks are real. The part is that with more than 80 million Americans expected to receive their checks via direct deposit today, online platforms for banks, including the likes of those three, went down as they were flooded with demand. Customers have issued reports with other banks as well, including Bank of America, TDE Bank and and T Terrible. But once again, logic doesn’t really reside in the minds of many. Can you imagine how crazy this would have been? I mean, stay with me for a second. Once again, this would never happen. But if this check had been released, handed out, distributed. And they will like everyone. You can choose five different ways you can get your check directly in Bitcoin. You can get your check directly in lumens and SRP and ether or like coin you choose and you go on the website because it’s the year 2020 and we should have websites like this. You type in your name, you type in information, you type in your social, and then you type of what coin you want and the address and we’ll get it to you. See, the crazy part is that that’s all possible, like that’s actually all possible directly right now, like what I said to you is a complete fantasy because we know the dojo. TIBBETT But the other point of it being what I said is into other worldly or undoable like we can we can do that today, especially with smart contracts. You can set up smart contracts that have a certain amount of money inside of them and it checks all of the actual addresses and start shooting out money in different directions. That’s how blockchain works. Unless you are in this situation again and this also doesn’t even count in the other what you might call it. What was I going to say? The other what was it like, 50 or 60 million people who won’t get their checks for another five months? Good times, good times, good times, good times, good times. Yeah. Let’s move on. And to finish things off, Brazil is modernizing its bureaucratic system by harnessing the power of can you guess which blockchain and you guess which blockchain ethereal. Banco Centrale. I see. The country’s central bank recently launched a blockchain based data sharing tool that’s been in development is 2017. Of course it has. BCB has invested over a quarter of a million on the project. The platform for information integration of regulatory entities peer as that all those letters smash together is runs on the core from Blockchain, which is an ethereal based platform developed by banking giant JP Morgan for big enterprises once again, of course, because JP Morgan also just said that they’re going to be using the theory on blockchain, be in America’s reports that the blockchain solution also uses Microsoft’s Azor Azour as a assure cloud. Can I never know how to say that. And please, please don’t try and tell me, because you typing it in the comments section won’t allow me to understand how it’s most pronounced that I’ve seen. I’ve even seen people on TV mispronounce that many times as it can. Cloud computing service before peer financial regulators in Brazil relied on snail mail and letters to send inquiries and access data from other agencies. The process of getting a response could take weeks. What I don’t understand. It’s the year 2020. Even, you know, many movies in the 70s predicted by now that we would have floating cars and robots. And even if you go back to like around twenty, fifteen to twenty, twenty, sixteen, why is everyone still using actual mail? You know, there’s still countries when you want to get something done. I’ll never forget. I forgot what women. I don’t know about. I remember I was trying to turn off a phone service, where was I trying to turn off a phone? Mobile service. I had to go to the store to tell them that I wanted to turn my phone off. They handed me a piece of paper that I had to fill. This was in France that I had to fill out. And I think sign it and then mail it to the actual phone company that they had to then approve it in the mail it back to me. And I had to give that to the phone company. This was years ago, but it was still like. Why? Why, why? Why, why? No, no. You you you turn off my phone service. Why? Why should anything. Nothing should take weeks. I’ll never I’ll never listen to this. The fact that it takes even. A day, but nonetheless, still three to five to seven business days to be able to send money around the world is nonsense. I can copy and paste a book that has a thousand pages. Tens of thousands, if not hundreds of thousands of words. I can post that into an email and send it to you and you would get it in about a good twenty eight seconds. It makes no sense. It’s just numbers on a screen. Why does all of this take so long? It should not take weeks. For financial regulators or anyone to try and communicate with each other, the new theory and base financial database digitizes all paper-based data to expedite rapid and secure inter agency communication. Tasks are dramatically streamlined, reducing processing from hours and days to seconds. The platform also keeps track of queries. The point being, this is yet another government. I hope you’re paying attention. Who is going to be using ethereal? This is now like the seventh, eighth one. We keep hearing about them over and over. I assume I don’t know what it is. I don’t know what it could be like. I honestly don’t know. Like, it’s it’s very. There’s a reason why. There’s a reason there is a reason why we don’t hear governments launching things, issuing why JP Morgan Chase is in launching or using anything on Tron or Cardno or iOS, but it’s constantly ethereal. I assumed someone had there. They must have all been very, very big cookie jar that all the enterprise has got their hands into. In 2016, 2017. Maybe this is why they’re backing a theory. It has something to do with has something to do with financial interests. That much is clear. But to this extent is really insane when people don’t understand the significance of Brazil putting their financial database on a theorem. The significance of the Russian president having conversations with Vitaly butyrate and inviting him all these like you can find them on the same panel, like sitting near each other, talking to each other. Same exact thing with JP Morgan Chase. And I’m pretty sure that tons of other banks, we may just never actively hear that they themselves are using ethe cerium is insane, but alas. Yeah. Just understand that if proof of stake works. If the issue wins, rate ends up being cut for a theorem. And once again, I guess to bring it on home, if if proof of stake launches in July, we’re going to see massive momentum. BOERI Theorem why a world government is using it unless it is I as a part of a bigger plan. That sounds too ominous. But you get what I’m saying. There’s a there’s that there’s a reason why they’re using a theory and not anything else anyway. Let’s move on. A very special thank you to my pictorial borders, Professor Wally from Gundan by University Yashar. Hi, Daddy. Hey, I’m trying to it is in one breath. Man Hi X. Joshua Viniar, My Story of Josh Gorcyca Tongala, a little tongue, a little Nostromo, Most Typical John Starts Amrita Baby, a phobia barebones mining town of Embracing Mohammed only meets images in Thailand. Ready Neil Gerrish Nanowires 9 Altuve, which was at a world Krypto Joe banquet at what could Obama Luby’s? He quipped the article Didwe Kip Nicholas When Other People Love Demus has won an economy which which athird rich nicknames. QR’s Third Vlad the Impaler, Kimpton Midship May Pax ASTEAK modular running the new challenge. I’m gonna dhimmi fox minting coins, but his just half a million just Hebridean caskets like they used to Krypto body. But but in his happiness Moscona staff Ahmed X17 make me a cake. Take Romanis coupled with lot of Greninja. Crap. I was so close because I stumbled earlier Crayola Michelle u._r._l and hold on, I have to sneeze. Oh, now lightheaded. I was so close. Thank you so much for your support. Thank you to everyone who out there who is a supporter of the channel. Click the little join button below at. Oh, and also thank you to everyone who has been using my Amazon affiliate links. I mean. Wow. Like my mind. Wow. Thank you all very, very much for all your support. It is appreciated across the board. You’re all amazing, wonderful people at the moment. Cryptocurrency market looks a little crazy. We’re up like right about the end of being up, but we’re not up. If that makes any sense, we’re above 7000. But over the last 24 hours, we’ve kind of been on this really weird rollercoaster thing. All coins have remotely generally follow the same exact trend, the same exact movements. It looked like I can’t explain it before I started. Everything was kind of green, but I wasn’t like a light red, almost a pink. If you kind of want to give it that color. Tasos is still up. Catano is up by 8 percent. We’ll see exactly how that ends up working out as the day ends up going on. But yeah, no one knows what’s going on anymore. The cryptocurrency market should not be following any other traditional market, at least not Bitcoin, because Bitcoin. Is everything against the traditional financial market like everything that it is? Bitcoin is not. And this is why Bitcoin is special. Not to say that other coins aren’t special or amazing or fantastic, but if we just single out the first coin and what it’s in original intent and purpose were and is it still there? Everything still intact. So if we end up seeing stock markets doing very well later, I guess expect the cryptocurrency market to also follow it as well. Who knows what’s going to happen? It’s a wild, weird and wacky place. No, I said that, but that’s how. That’s how the market’s working right now. I am. I haven’t been this excited for something in a very long time. It’s really, you know, was really funny. Me and one of my friends, I’m not half joking. We planned on throwing a having party or like a having celebration. We were gonna have like dinner and have a bunch of sweets and all this other stuff. I like desserts. What have you. But, you know, we can’t now because life is different. But yeah, I’m very excited for the having. I’m not expecting. I mean, who knows? I was gonna say I’m not expecting any movements, but the crypto market always tend to surprise me. What is the actual having event to take place? I think is going to be major, at least for me. In my mind, anyway, I’m rambling on. I do hope you all enjoyed. Hope you all are having a great day. A great morning. A great afternoon. A great evening. Wherever you are, wherever you might be. I do hope that is absolutely an. Tactic. Thank you all once again for watching and or listening. And I will most certainly be talking to you all soon. See you.

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Bitcoin Price Action, Libra Is Finished, Explosive Demand, Banks Go Down & Ethereum Database

VIDEO TRANSCRIPT

Hello, everybody, welcome back for another video. Hope you all doing well and that you’re all having an incredible day to start things off. Bitcoins upcoming mining rewards having has long been looked upon as a fundamental event that would help bolster its underlying strength and catalyze some immense upwards price action, the sentiment has been largely rooted in historical precedent as the benchmark cryptocurrency has long seen immense bull favoring volatility and the time directly preceding and following this event. It doesn’t seem as though the same can be said for the having that is occurring in just a few weeks from now. However, as this is the first time in Bitcoin’s decade long history that it is entering, its having with a negative 90 day re turn at the time of writing, Bitcoin’s mining rewards is slated to occur in about twenty five days. It depends on where you look. It depends on how much actual computing power that we have going towards the bitcoin network. A lot of people have been turning their computers off to people have been turning the computers on. There was news yesterday that I did not have in a video because it seemed completely pointless that we had re reached the mining capacity strength that we had seen before that we had dipped down from that had made major news because people had turned their computers off and they subsequently had turned them back on. So we were just back where we were about a good three, four weeks ago. So. Why have it in a video and is expected to take place on the 12th of March? It is not accurate, but we will see as we get closer. The event cuts the rewards that traders receive from producing blocks and have subsequently decreasing the cryptocurrencies annual inflation from 3.6 5 percent to 1.8 percent. After this ends up taking place, the having as an integral part of bitcoin being a deflationary currency and shines a spotlight on the importance of its existence during a backdrop of endless money printing and inflation. What we’re having right now, for those of you who do not see the title of said article, it says Bitcoin showing unprecedented pre having price action. We are currently in a situation where the cryptocurrency market is up. No one knows how far it is going to go up. But however, at the moment, I think bitcoin. Right. What does that keep happening, every video Bitcoin went up by around, I think 6 to 7 percent. I think he theorem was the. The winner, winner, chicken dinner. I think anywhere from 11 to 14 percent, depending on which place you saw the actual number. And at what time. The cryptocurrency market is seemingly doing very well. And when you look around once again, always, that’s how it always happens. It’s never clear cut and dry. There’s never an exact reason as to why prices are going up. As always, multiple things. A lot of people think. They assume that because we are getting closer to the having, therefore more people are jumping into the cryptocurrency space, they’re seemingly more interest. We’re getting a lot more. Google’s search results or people searching on Google for the term Bitcoin having we read about that about three, four days ago. I think it South Africa, Venezuela, Singapore, Switzerland, that place and the other places, I think is the 10 places in general that have like super high search results, just about the bitcoin having normally search results end up circling around Bitcoin’s price or bitcoin price predictions or bitcoin price today. However, that has shifted to the. SITUATION around the mining getting cut in half the money, we’re we’re getting cut of half. The other thing which people think. Is that it has to do with the governments around the world printing tons of money. I’m going to tell you honestly, I don’t think that that is a major cause of the cryptocurrency market going up. And I’ll tell you why. In the beginning, in the long, long ago, the entire idea or the. The word is in power, what? What cryptocurrencies were before has completely changed the idea of Bitcoin being a decentralized, super mega world powered for everyone and everything, cryptocurrency still remains. But it’s kind of on the fringe. It’s been pushed to the very ends of it in a lot of people. Many people just simply see Bitcoin as an investment vehicle way to make money. And this is why I believe whenever we see the traditional stock market go up or down, this is why the cryptocurrency market follows it, that a large part of the sentiment of the people who are within the space right now don’t care about decentralization. They don’t care about helping poor people. They don’t care about other people around the world. That has to do with how much money I can make from bitcoin. So whenever bitcoin or the stock market goes down, then therefore the cryptocurrency must air quotes go down because it’s also just another investment vehicle. It’s not something people have very limited form of foresight. A lot of people, many people don’t foresee a future. People people barely know what they’re going to do in their life the next three, four or five weeks. Nonetheless, what a cryptocurrency that can be used by billions of people on the planet. Permission Lassally where that’s gonna be in around 10 years. So a lot of the the current price action, I just it doesn’t really if if if I can say this, it doesn’t really bother me whether it goes up or down because I know that the future of the cryptocurrency space is going to be reliant on the old teachings. If you could kind of say that sounds kinda weird of what bitcoin in the cryptocurrency space used to be and still kind of are like the deflationary nature, the fact that you can send it anywhere, you know, the entire spiel. I don’t have to say the entire thing over again, but I think that will come into play as time ends up going on. And this is why I think a lot of people understand what they’re having is significant for, but a lot of other people just see it as another way to kind of. Who’s their portfolio up and make money? So the point to be made is currently the cryptocurrency market is up. However, at the exact same time and this is why I said I don’t think it’s the the printing of the stimulus money, if you will. As one says right here, April 17th, the European Stock Index futures surged more than 3 percent on Friday. As Donald Trump rolled out plans for a gradual reopening of the economy and on reports of a potential something, something for number 19. The situation that we have right now is that many world governments, a couple of them, a handful, an actual handful, are discussing the ideas of re opening the economy. This has been eye. This isn’t a political channel. So we’re just gonna kind of leave it at that. However, the point to be made is it appears that there is a lot of happy sentiment on the back of the idea that this might not last for another six to 18 months and therefore we could slowly see signs of a recovery and or things slowly opening back up. I think there was also news yesterday that Apple is also planning on starting to reopen their stores. I think the first one will be somewhere in Asia and they’ll kind of go in a store to store basis. So. Once again, the correlation between Bitcoin and the stock market is completely nonsensical, and I think that’s simply because people don’t understand still what Bitcoin is, and I know I said it rather ominously before I remember I was relistening to one of my videos and I was like, if they don’t know now, they will. And I adamy to have that kind of tone. But it’s the truth. A lot of people who don’t understand what this is for are really gonna be hit hard when they understand exactly what the point of bitcoin is. Yeah. The point to be made is prices are up. Who knows how long they will stay up? The pop, pop, pop, pop, pop. The stock markets in the Americas have yet to open. And I think that will be a good indicator if the stock markets are going to go up and if the cryptocurrency market will also go up. I really do. I don’t think and this is this is me. I feel like if people really understood what the significance of Bitcoin’s inflation rate going from 3.6 to one point eight percent like what the actual significance of that was, I think we’d have a a bitcoin price over at least ten thousand right now. For those of you who don’t know the the the dramatic significance is that normally we are told that the actual issuance rate or printing of money from governments around the world, they aim for a 2 percent inflation rate every year. However, this number is usually around 3 to 5 percent as governments sometimes over create. However, the fact that Bitcoin will officially be below those numbers, even if the official numbers from governments was 2 percent every single year, if the U.S. government was printing 2 percent more of their money than they had last year and bitcoin will mathematically we know this for fact because it’s on the blockchain will be 1.8 percent. That alone. I mean, the the idea that as time goes on, the less bitcoin that’s created by the network, the more valuable it will become as it’s deflationary and the inflationary currencies lose their value if you never look at a chart for the U.S. dollar over the last thing. No, I would say 90 years. I can remember the exact number for the chart. You see the U.S. dollar just being decimated in value. And on the flip side, we now have a deflationary currency which logically would become more worth more as time ends up going on anyway. I think people just don’t get it. I have friends and other non friends, friends of friends who ask me still, why bitcoin? Why? Why not something else? Like I invest in so-and-so, I and. I’m like, that’s not. You don’t get it. And I don’t have time to explain it to you. Just go read a book or something. Anyway, you know, the prices are up. So are the futures for the European stock market. And we’ll see exactly how this ends up continuing as the day unfolds before us. In your news, that’s everywhere news and I mean every single corner of the Internet. After a rocky road. Not the ice cream. With the United States Securities and Exchange Commission, key decision makers and Libra have gone back to the drawing board to retool their cryptocurrency platform to be more palatable to regulators. First of all, Libra has applied for a payment system license from the Swiss regulator for financial markets and the supervisory authority. This is a huge milestone on the way to some publicly usable Libra payment system. But there is still work to be done. Lieber’s licensing process will continue to require input from other central banks and financial regulatory authorities around the world. But the traction is positive for now. Libra is on its way to being able to make or to offer monetary and banking services, and I’ll get into exactly how all of that is just hubbub. There are also a number of underlying technical challenges taking place or changes. First is multi-currency stable coin L B R or just Libra. Be back by new stable coins instead of fiat currencies living in a bank account somewhere. Leber co-director David Marcus tweeted that the most notable evolutions in the creation of single currency stable coins like USD EU are and great British pound. In addition to the Libra coin, the updated design is made possible by a smart contract that ties together the fixed normal weights of underlying stable coins and also happens to limits Lieber’s flexibility. Some adding or removing since adding or removing a currency from the basket would require issuing or retiring another currency. Here is the major part to keep in mind. It says The major update is to the Libra White Paper, which has been retooled in light of the previously described the technical changes. The first version described Libra as a permission and network controlled by the Libra Association, and the plan was for it to go permissionless in the next five years working backwards. I know, you know. The fish in the sea knew and Facebook knew there was never going to be a point where Libra was going to be permissionless. Never. Not in this dimension. Not a next dimension. Not in any there’s there’s no timeline where Libra was going to be as permissionless as Bitcoin. Let’s just kind of get that out there. They said the original idea for Libra was and this is why a lot of people and why the cryptocurrency market reacted positively last June, I believe it was when they first mentioned this. The idea was that they would have a currency, a digital currency that would be released. This new currency will then go out into the wild. People around the world would use it. They would have a Libra wallet. And within this Leber wallet, they would add other cryptocurrencies and or digital assets. And therefore, people will be able to trade them at will back and forth. Remember the news even even more so. I mean, it all ties in as I’m as I’m going forward. The news that we have been talking about, how regulators. Want to regulate. And they want to know where this is going, why this is happening. The long and short of it is if they did not create it. It can not be. Or if it is to be, you better tell them exactly what’s happening at every single turn. And I think there was a bit of. The word is even backlash. It was it was it was angry lash, because the people from Leber pretty much said no, like we’re going to control this ourselves. And they said, we’re gonna do this. Oh, they also registered directly even last year. They erect the directly registered in Switzerland and not within the United States, which is also a big no no, because you got to tell daddy exactly what you’re doing. So what has happened over the last four hours? Like I said, it’s been everywhere. The original idea for Libra was to be just Libra. Backed by multiple paper currencies that changed in two Libra being backed by some fiat currencies, paper currencies and other assets, we don’t know if it was gonna be gold, if it was gonna be luxury real estate. No one knows exactly what that would have been pegged to. And then it evolved in to around August, September, they announced we’re not opposed to also launching stable coins. So it was going to be Libra alongside other stable coins. Now, that’s morphed into an I I assume this is what it is. The fact that they’re able to even continue with his roll out of it. Remember the discussion that we were having before that they are going there are going to be. Government issue stable coins that I mean, central bank digital currencies, I mean actual stable coins that are going to be used within the cryptocurrency space. I think cryptocurrency exchanges will eventually be forced mandated to use these. That is also an assumption. Who knows? But you kind of see where I’m going with all of this. And these, I believe, are what is going to be used through Libra, especially at night. Yeah, I think it’s actually correct if if you read around about it. I think it’s going to be. It’s meant to be stable coins in a backed by U.S. dollars that I think are under the purview of the CFTC and or the S.E.C. or some other letter. organization that is going to kind of have an overview of everything that LIBOR is actually doing. So now you have the entire original idea of labor has completely fallen apart. The news that we also had was that around October, this would all kind of get going. Now it appears, I think whereas it was somewhere which article was an engine design, a compliant transaction is a very near term dauntingly. I don’t know where it was. I read it in one of these four articles. I think apparently the the initial launch of Libra will not be for everyday people. I believe it’s going to be just for businesses, institutions and cryptocurrency exchanges in the beginning, because this is it. You’d better believe if they have so many problems with Facebook, even thinking of launching their own currency when they release the stable coins that are going to be backed by other official currencies U.S. dollar, the euro, British pound to the Singaporean dollar, you are probably going to have to be required to actually do it. A massive amount of KYC that’s know your customer stuff on Facebook to be able to use the platform. This was expected to roll out across Facebook Messenger and WhatsApp. And there’s another their fourth one, Instagram. These were the expectations. So just be aware. And about a good year from now, you’re going to see something pop up and it’s going to say, hey, upload an I.D.. No, upload an I.D.. No, no, no. Upload your. You’re going to be forced to actually do all of these things to actually try and use these these platforms. So as it stands right now. Libra, apparently. I don’t want to say is no more, but the original idea from it has completely fallen apart. Is this good for the cryptocurrency space? Maybe a lot of people believe that the actual usage of Libra or the launch of Libra was actually somewhat. Dare I say bullish or bitcoin, because we would get to see in real time how much LIBOR was issued on the basis or the connecting lines to fiat currency, we’d be able to see the inflation rate of Libra and the deflation rate of Bitcoin. And also it was expected because the people from Libra and Facebook had said they originally wanted to use Bitcoin as the actual currency on the platform, but they said it was simply too slow for what they were trying to do and therefore they created Libra. So the assumption was that all of this is that at some point they would add Bitcoin as a payment option on their platform. But once again, if governments have a problem with people using telegram tokens or kinne tokens, they probably would not have cared or it would have. They would not have liked if people were able to use bitcoin on another platform anyway. So, yeah, it looks like Libra is. Yep. It’s still going to launch looking very different. It’s going to it’s I can remember where exactly it said it it’s it’s going to just hit. Like institutions and banks first who are going to want to use it. Yeah, I mean. It’s not like it was going to. It’s not like it was going to take down a bitcoin, which is great for reference. Because remember, in 2019 when all those articles started popping up, you can find them type in like Facebook. Bitcoin, no, like Facebook. Libra, Bitcoin, 2019. As some articles start to pop up from like Forbes and Bloomberg, where they were predicting that Libra would be the downfall of Bitcoin and Libra was gonna be so big, that big. And I’m like, you don’t underst. This is a problem. People don’t understand what bitcoin is for them. It’s just a way to make money. It’s just a number on a screen that goes up and down. It means nothing to them. Besides that, like the reason why Bitcoin has survived this long is because it is permissionless. While me and you may buy, sell or hold trade, whatever we do on a daily basis. There are people around the world who billions of people around the world who do not have access to financial institutions, to banks, to anything. They’re actually buying up bitcoin in a bid to actually be able to transact and use might like it is. It is the new form of money. And this is why it’s very important. People keep overlooking the fact that last year Bitcoin did four times as much transactions as PayPal. Think about how they think about how popular PayPal is. Think about how many of you have used PayPal. I used to when I sold on eBay, I was using PayPal multiple times a day. Think of how popular and strong and well-known PayPal is. It’s on every single nearly every single payment Web site. Scroll to bottom. You see the two letters, bam, I can use PayPal. Now, imagine that Bitcoin been around for 10 years at this point. Did four times as much in transactions as that. One thing people continuously overlook. These these facts. And this is why I always say. The fundamentals were Bitcoin haven’t changed. Oh, yeah, whatever. Yeah. So that is the Leber news, that this news was everywhere and I assume it will continue over the next couple of days, I assume around around from Prempro, August. July. We’ll get like sprinkles of more news as to exactly how this is going to launch. But as it stands right now, Libra is. There’s no word that I can use for like done that rhymes with Leber, I was gonna say lowest like Libra is toast, but that’s not a word. Lieberals Lieberals lo look. Okay, let’s move on. I can’t find a word. This yeah, yeah, this is it as well. Four months after Circle pivoted to stable coins, the startup’s new business model has received an unexpected boost from the global nineteen. This was said by the CEO Jeremy a layer. U.S. dollar backed blockchain tokens are surging in popularity around the world, and this time much of the demand is for payments. In normal business transactions, not just to move money quickly between cryptocurrency exchanges. Oh, you know what I just remembered? Remember last year we were reading that article that apparently between China and Russia. I think it’s the I don’t know if it was Teather or the Sir Adam. I’m. I think it was Teather. That apparently people are using these currencies to trend this digital currency, to transact between each other like that, like the border of China and Russia. There’s like a market somewhere. And because they don’t want to have to swap back to currencies back and forth to actually do the what’s it called. That goes like a changing service. And they hand in the money that you get a terrible fee and and you go back across the border, you spend money this way. I think they’re just using stable coins, which is completely insane because this is kind of, you know, the point of them. But also, you get into that territory where governments are like, hey, you’re not you’re not you’re not using my money. That’s that’s the money I printed for you. And it creates this really weird like. This is this is the point of cryptocurrencies over the past several weeks, we have seen an explosive interest and growth in U.S. D.C., he said, referring to the stable coin circle issue is in partnership with Coinbase. This is clearly very significant global. There is clearly a very significant global demand for digital dollars and the use of digital dollars as a new payment to medium. New signups have come from e-commerce marketplaces, advertising networks, luxury good producers, recruiting platforms, digital content makers, peer to peer lending platforms, payment companies, software firms, professional services, reward businesses, mobile banking providers and other internet companies. We are getting feedback from Asian market participants that there is more and more demand for USD C from SMB seeking both the safety and utility of digital dollars, he said, using a term for small and medium sized enterprises without really having read much further. Here’s the actual growth chart right here. This is insane. And even if you go from this is March, this has to be around January, the beginning of this year. Do you see this spike? It’s this is also. Remember this where we just spoke about yesterday. It says G20 Group C stable coins as threat to financial stability is because they’re probably getting all these numbers, they see these charts. Do you understand the significance of someone creating a version of the of the a digital version of the dollar that was not created by the Fed? And to have it explode in popularity like this, like this is also the it’s a metric based off of the supply, but the supply is based off of how much money they have actually coming from investors who are putting it into this thing because the demand is also there, like as the demand rises for this coin. This is how much money gets put into the market. How many coins are distributed. This is why we see billions of dollars worth of Teather. So sayeth the Internet. Yeah. It’s a it’s a very fascinating time. This is from their charter from 2018 to now. That’s that’s roughly around seven hundred and twenty five million dollars just issued in the circle coin. Now imagine the Gemini dollar tether. I think Bynum’s also has a stable coin. I think who only has one as well. So imagine all this money flowing through these systems. And the government and the Fed aren’t part of it. This is why stable coins are now a threat, because they it’s so fascinating to see all of this unravel like right before our eyes, you understand the significance that you as a company are able to create your own, not only your own currency. I think that’s also something that people keep forgetting. And I and I it it waters down the significance of the cryptocurrency space when we have ten thousand currencies, because the idea of someone actually creating a cryptocurrency and or a currency that has actual use or a use case is major. We’ve never, ever in the history of ever been able to do this before. Anytime that any other company had tried to do this in the 90s, this is also if you look back. A lot of companies since the Internet, I won’t say, became more popular around ninety five to ninety eight to nineteen ninety nine, you can read about this online is all everywhere like Athena called Cypherpunks C Y P H E R Punks. They tried multiple times to create a digital version of the US dollar or just digital money that people could use back and forth. And the reason why bitcoin is so significant is because I gosh, what is it? It it passed the the business tene tolerance of the Byzantine fault. I came in what is called it other ways were always centralized ways of creating money and bitcoin blockchain that bitcoin bitcoin was on created a way that it was actually permissionless, that you just had to run a node and all the nodes would trust each other because they were all sharing the exact same information. That was something. I know it seems normal now, but years ago this was not anything that actually made sense of that could actually work. And this is why bitcoin is like is bitcoin because it was the first to be able to do so. You were unable all these other projects that had tried to launch their own digital version of anything or any dollar or any on money were completely shut down. If you read and the actual beginning of what pay power was meant to be, PayPal was meant to be something similar to Bitcoin, not the same as bitcoin obviously, but it was meant to be a digital dollar that you could kind of use online at your own behest to whatever you wanted to do. You could use it. I think it was around for about a good year, and that’s when governments were like, hey, what are you guys cooking over there? It smells good. And we don’t see we don’t see anything in our in our wallets. So this is kind of how PayPal got morphed. You can hear. I dunno if it’s the current head or the previous head of PayPal. He said as many times he’s a he. He loved the idea of bitcoin because it was reminiscent of what he was trying to do. Anyway, the entire point of this conversation is. Stable coins are. I want to say no. I was going to say they’re here to stay, but I we we we all know behind the scenes they are being dismantled in in rapid succession. I mean, when you you get stuff from from from from the G20 saying that stable coins are a threat to financial stability. That’s a that’s a that’s an issue. That means that your. The financial system, as it is right now, is just garbage and I mean complete and utter trash in every single possible way. If you have people look at this. This is two years, it takes two years for something to be to become financially unstable, like I feel like the creation of a digital version of the world’s most popular currency probably shouldn’t be. I don’t say there’s not a threat, but it’s very interesting to see. I’m I’m. Or a decentralized world. I hope for a world where I don’t know. I have I have a lot of hopes. I just kind of leave it at that because I could. That could go on. That could be a 15 minute segment in and of itself. But yet we’re seeing this happen all around the world. I wish I could find that article. It was definitely between China and Russia, where little markets there, they walk across the border and they are paying in stable coins because it’s an easier way for them to be able to transact. Anyway, I. I find news like this quite fascinating. Let’s move on. Next up, some U.S. banks have been unable to handle the increased demand generated by the stimulus checks being distributed to 80 million Americans. On the 15th of April, the online platforms for a U.S. bank, PNC and the fifth third banks went down, apparently unable to handle the inflow of stimulus. The inflow, not even the outflow, unable to handle the inflow of stimulus funds. On the 16th of April, some users of the online only Ali bank reported outages, with U.S. bank customers reporting outages or ongoing problems as well. Banks have shown they are unable to scale with the increasing demand. Shocking. Ironically, the lack of scalability is a typical criticism of Bitcoin and other blockchain networks that have been happily chugging along. In the meantime, without any hiccups. Àlex Smush Mushin, ski CEO and founder of Celsius Network, who is known for his critical stance for the banking industry, told KOIN Telegraph the issue highlighted problems with the legacy infrastructure. He said We live in this technological age and everybody can scale, but it’s not what’s happening, but it’s not worth it. Yes, that was happening, but the government is still printing physical checks and sending it to people in the mail, which still blows my mind. Once again, to understand if you are not in the states. Other places around the world don’t use cheques even crazier. There are parts of the world where there are people who are without homes on the street and they actually have like QR codes hanging from their necks. And you kind of walk up to them and you scan them. Checks are no longer a thing in many other parts of the world, so the idea of having to print out a check and then mail it to someone and then they have to take that to a bank and or to a a check cashing place is very 1960s, very 1970s. The other point being, that’s the inflow of funds that has nothing to do with the people even trying to take their money out. The antiquated system is going to remain antiquated. There is nothing in my mind that tells me within the next two years that the debt, the current banking system is going to try to reinvent or to remake itself. There’s there’s too much there are too many old cables, literal old cables lying around for any of that to kind of. Be revamped or replaced in the in the in the ever. But yeah, here’s the actual article that it is referencing. It says U.S. Bank, PNC Fifth Third Bank down as money checks money. Millions check accounts. More stimulus checks are real. The part is that with more than 80 million Americans expected to receive their checks via direct deposit today, online platforms for banks, including the likes of those three, went down as they were flooded with demand. Customers have issued reports with other banks as well, including Bank of America, TDE Bank and and T Terrible. But once again, logic doesn’t really reside in the minds of many. Can you imagine how crazy this would have been? I mean, stay with me for a second. Once again, this would never happen. But if this check had been released, handed out, distributed. And they will like everyone. You can choose five different ways you can get your check directly in Bitcoin. You can get your check directly in lumens and SRP and ether or like coin you choose and you go on the website because it’s the year 2020 and we should have websites like this. You type in your name, you type in information, you type in your social, and then you type of what coin you want and the address and we’ll get it to you. See, the crazy part is that that’s all possible, like that’s actually all possible directly right now, like what I said to you is a complete fantasy because we know the dojo. TIBBETT But the other point of it being what I said is into other worldly or undoable like we can we can do that today, especially with smart contracts. You can set up smart contracts that have a certain amount of money inside of them and it checks all of the actual addresses and start shooting out money in different directions. That’s how blockchain works. Unless you are in this situation again and this also doesn’t even count in the other what you might call it. What was I going to say? The other what was it like, 50 or 60 million people who won’t get their checks for another five months? Good times, good times, good times, good times, good times. Yeah. Let’s move on. And to finish things off, Brazil is modernizing its bureaucratic system by harnessing the power of can you guess which blockchain and you guess which blockchain ethereal. Banco Centrale. I see. The country’s central bank recently launched a blockchain based data sharing tool that’s been in development is 2017. Of course it has. BCB has invested over a quarter of a million on the project. The platform for information integration of regulatory entities peer as that all those letters smash together is runs on the core from Blockchain, which is an ethereal based platform developed by banking giant JP Morgan for big enterprises once again, of course, because JP Morgan also just said that they’re going to be using the theory on blockchain, be in America’s reports that the blockchain solution also uses Microsoft’s Azor Azour as a assure cloud. Can I never know how to say that. And please, please don’t try and tell me, because you typing it in the comments section won’t allow me to understand how it’s most pronounced that I’ve seen. I’ve even seen people on TV mispronounce that many times as it can. Cloud computing service before peer financial regulators in Brazil relied on snail mail and letters to send inquiries and access data from other agencies. The process of getting a response could take weeks. What I don’t understand. It’s the year 2020. Even, you know, many movies in the 70s predicted by now that we would have floating cars and robots. And even if you go back to like around twenty, fifteen to twenty, twenty, sixteen, why is everyone still using actual mail? You know, there’s still countries when you want to get something done. I’ll never forget. I forgot what women. I don’t know about. I remember I was trying to turn off a phone service, where was I trying to turn off a phone? Mobile service. I had to go to the store to tell them that I wanted to turn my phone off. They handed me a piece of paper that I had to fill. This was in France that I had to fill out. And I think sign it and then mail it to the actual phone company that they had to then approve it in the mail it back to me. And I had to give that to the phone company. This was years ago, but it was still like. Why? Why, why? Why, why? No, no. You you you turn off my phone service. Why? Why should anything. Nothing should take weeks. I’ll never I’ll never listen to this. The fact that it takes even. A day, but nonetheless, still three to five to seven business days to be able to send money around the world is nonsense. I can copy and paste a book that has a thousand pages. Tens of thousands, if not hundreds of thousands of words. I can post that into an email and send it to you and you would get it in about a good twenty eight seconds. It makes no sense. It’s just numbers on a screen. Why does all of this take so long? It should not take weeks. For financial regulators or anyone to try and communicate with each other, the new theory and base financial database digitizes all paper-based data to expedite rapid and secure inter agency communication. Tasks are dramatically streamlined, reducing processing from hours and days to seconds. The platform also keeps track of queries. The point being, this is yet another government. I hope you’re paying attention. Who is going to be using ethereal? This is now like the seventh, eighth one. We keep hearing about them over and over. I assume I don’t know what it is. I don’t know what it could be like. I honestly don’t know. Like, it’s it’s very. There’s a reason why. There’s a reason there is a reason why we don’t hear governments launching things, issuing why JP Morgan Chase is in launching or using anything on Tron or Cardno or iOS, but it’s constantly ethereal. I assumed someone had there. They must have all been very, very big cookie jar that all the enterprise has got their hands into. In 2016, 2017. Maybe this is why they’re backing a theory. It has something to do with has something to do with financial interests. That much is clear. But to this extent is really insane when people don’t understand the significance of Brazil putting their financial database on a theorem. The significance of the Russian president having conversations with Vitaly butyrate and inviting him all these like you can find them on the same panel, like sitting near each other, talking to each other. Same exact thing with JP Morgan Chase. And I’m pretty sure that tons of other banks, we may just never actively hear that they themselves are using ethe cerium is insane, but alas. Yeah. Just understand that if proof of stake works. If the issue wins, rate ends up being cut for a theorem. And once again, I guess to bring it on home, if if proof of stake launches in July, we’re going to see massive momentum. BOERI Theorem why a world government is using it unless it is I as a part of a bigger plan. That sounds too ominous. But you get what I’m saying. There’s a there’s that there’s a reason why they’re using a theory and not anything else anyway. Let’s move on. A very special thank you to my pictorial borders, Professor Wally from Gundan by University Yashar. Hi, Daddy. Hey, I’m trying to it is in one breath. Man Hi X. Joshua Viniar, My Story of Josh Gorcyca Tongala, a little tongue, a little Nostromo, Most Typical John Starts Amrita Baby, a phobia barebones mining town of Embracing Mohammed only meets images in Thailand. Ready Neil Gerrish Nanowires 9 Altuve, which was at a world Krypto Joe banquet at what could Obama Luby’s? He quipped the article Didwe Kip Nicholas When Other People Love Demus has won an economy which which athird rich nicknames. QR’s Third Vlad the Impaler, Kimpton Midship May Pax ASTEAK modular running the new challenge. I’m gonna dhimmi fox minting coins, but his just half a million just Hebridean caskets like they used to Krypto body. But but in his happiness Moscona staff Ahmed X17 make me a cake. Take Romanis coupled with lot of Greninja. Crap. I was so close because I stumbled earlier Crayola Michelle u._r._l and hold on, I have to sneeze. Oh, now lightheaded. I was so close. Thank you so much for your support. Thank you to everyone who out there who is a supporter of the channel. Click the little join button below at. Oh, and also thank you to everyone who has been using my Amazon affiliate links. I mean. Wow. Like my mind. Wow. Thank you all very, very much for all your support. It is appreciated across the board. You’re all amazing, wonderful people at the moment. Cryptocurrency market looks a little crazy. We’re up like right about the end of being up, but we’re not up. If that makes any sense, we’re above 7000. But over the last 24 hours, we’ve kind of been on this really weird rollercoaster thing. All coins have remotely generally follow the same exact trend, the same exact movements. It looked like I can’t explain it before I started. Everything was kind of green, but I wasn’t like a light red, almost a pink. If you kind of want to give it that color. Tasos is still up. Catano is up by 8 percent. We’ll see exactly how that ends up working out as the day ends up going on. But yeah, no one knows what’s going on anymore. The cryptocurrency market should not be following any other traditional market, at least not Bitcoin, because Bitcoin. Is everything against the traditional financial market like everything that it is? Bitcoin is not. And this is why Bitcoin is special. Not to say that other coins aren’t special or amazing or fantastic, but if we just single out the first coin and what it’s in original intent and purpose were and is it still there? Everything still intact. So if we end up seeing stock markets doing very well later, I guess expect the cryptocurrency market to also follow it as well. Who knows what’s going to happen? It’s a wild, weird and wacky place. No, I said that, but that’s how. That’s how the market’s working right now. I am. I haven’t been this excited for something in a very long time. It’s really, you know, was really funny. Me and one of my friends, I’m not half joking. We planned on throwing a having party or like a having celebration. We were gonna have like dinner and have a bunch of sweets and all this other stuff. I like desserts. What have you. But, you know, we can’t now because life is different. But yeah, I’m very excited for the having. I’m not expecting. I mean, who knows? I was gonna say I’m not expecting any movements, but the crypto market always tend to surprise me. What is the actual having event to take place? I think is going to be major, at least for me. In my mind, anyway, I’m rambling on. I do hope you all enjoyed. Hope you all are having a great day. A great morning. A great afternoon. A great evening. Wherever you are, wherever you might be. I do hope that is absolutely an. Tactic. Thank you all once again for watching and or listening. And I will most certainly be talking to you all soon. See you.

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