in

Big Things Are Happening With Cryptocurrency! [Bitcoin, Bank of Korea, Basic Attention Token Update]

VIDEO TRANSCRIPT

All right. Welcome back, everybody, to altcoin Daily. My name is Austin. Big things are happening. Let’s talk about Bitcoin. Bitcoin is up today. In fact, if we zoom in Bitcoin price-wise, we are trading right now at the exact same place we were trading on January 1st of this year. Meaning despite the global pandemic, despite the horrible crash we saw in traditional markets and bitcoin a month and a half ago, meaning in times of global uncertainty. And you can see this right here. You can see this bitcoin is recovering first. Yet despite that big for an auditing firm, PWI WFC has just come out with a new report saying the crypto industry is not immune to the global crisis, which is true, especially crypto in general, broad term. What’s interesting, though, is if crypto wasn’t important, they wouldn’t be talking about it. Think about it. A new report from PricewaterhouseCooper showed that crypto-related fundraising and mergers and acquisitions MMD tumbled last year. Well, last year was 2019 and in thousand nineteen, bitcoin was up. Bitcoin was up over 100 percent in the year 2019. Yet according to p.w C fundraising, m.i.a.’s tumbled last year, meaning institutional investors were not coming in. Professional services giant p.w C said that the numbers and the value of crypto fundraising and MMD showed a deep decline last year. Interesting. So what are the numbers? The value of crypto-related M&A sank 76 percent. Mergers and acquisitions of crypto companies, I guess sank 76 percent to four hundred and fifty-one million dollars in 2019 from over one point nine billion dollars the previous year. The number of funds raised fell 40 percent to 2.2 4 billion. OK, so what’s the point? The point is that a huge corporation p.w C says that given the current global pandemic, the report authors argue that the cryptocurrency market will not attract mainstream investment anytime soon. The high volatility caused by this global pandemic and the economic collapse does not bode well for the emerging space. And that’s true. That’s obvious. We’ve seen when traditional markets tank, they draw down gold. They draw down bitcoin and crypto. Everything gets drawn down with it. Yet the S&P, what it’s recovered 35, 40 percent from this economic crash. Bitcoin, at least year to date, has recovered one hundred percent. Let’s check the stats. The 2020 year to date performance bitcoin. We’re actually up 1 percent. The S&P down 20. Real estate down 30. Oil down almost 60. You get it. Do you like it? Is Bitcoin the best investment of this decade again? Could be. I mean, if institutional money is not coming in now, I can’t wait to see what happens when it does come in. If it does come in, let me know what you think. Down below in the comments. Big news involving big cash. Big news involving staking altcoins. Do you stake do you want to stake? Watch today’s whole video. But of course, the biggest news, the Bank of Korea begins their central bank digital currency rollout. So why is this such a big deal? How does this affect you? Talk of central bank digital currencies may have taken a backseat for many world central banks right now. Yet despite claiming that there was no reason just a couple months ago, the Bank of Korea has unveiled a 22-month pilot plan. So this is real. This is happening. It seems as if the Bank of Korea has done an about-turn on the importance of a C BDC, despite its sceptical stance in early February. Just a few months ago, bank exacts have now decided to adjust their plans for the issuance of a Korean central bank digital currency. And what’s interesting is it will be following steps similar to those laid out by Japan and the United States, according to the Korean Times report. In fact, we have a direct quote from the Korean central bank saying The United States and Japan had had no plans to issue a BDC in the near future, but they changed their stance recently to enhance research in the emerging area. So this is all coming from a Bank of Korea official saying that because the U.S. and Japan are changing their tune and keep in mind, the U.S. hasn’t said they will do it yet. But some reports coming out of Steve Maneuverings, U.S. Treasury, they’re looking into the digital dollar because of that, the Bank of Korea is going full steam ahead. But now, whether it’s because of this ongoing global pandemic or the looming, looming, bad global economy, they’re getting into it. For now, the Bank of Korea is ready to try out tests for over 22 months to see how well a digital currency can replace paper money. So this is a 22-month pilot program test to see if this will work out, among other factors. The bank will be checking the technical issues encountered during the pilot. So work out the bugs. The world is going more digital payments are going more digital and as payments go, more digital. Notice how governments, countries, they want to control your payments. They want to control your privacy in any way they can. Now, before we get to some pretty shocking big cash news, speaking of maintaining your privacy. Brave tokens, meaning basic attention tokens are officially available for trading on the Jemini exchange starting April 24th. Now, of course, Geminis. It’s not the biggest exchange, but they are one of the most legally compliant exchanges, meaning the safest meaning. They’re not going to put a coin on their exchange unless they’ve fully vetted it. So this is this bodes well for basic attention token in an April 6th blog post on the Jemini Web site. The platform announced that it would soon support trading for basic attention. Token users will be able to deposit back into their Jemini accounts starting on April 24th. In the a.m. with trading to begin soon thereafter. And remember, this is what is this, the sixth token on the Gemini exchanges? They don’t add a lot of tokens in a direct quote. Bat is the sixth digital asset available for trading on the Gemini platform. Joining Bitcoin A theory, M B Cash, Litecoin and Z cash. So it’s number six. And what trading pairs can you buy into basic attendant token if you choose on there? Well, we will be offering USD BTC and eath trading pairs for bat on both our continuous order book and our automated block trading system. So huge green flag for basic attention token. Next piece of news. bitfinex launches staking in response to customer demand. So if you want a steak and you want to leave your coins on bitfinex exchange channel recommend. But if you want to do that, you could possibly earn a little bit of passive income if those coins have any value in the years to come. But announced April 3rd, bitfinex will offer staking rewards of up to 10 percent annually on crypto-assets underpinned. Obviously there have to be proof of stake altcoins in a direct quote. We’re committed to engaging our existing customers on the wider community with the new products and innovations. The bitfinex Staking Rewards program provides our users with another avenue to increase their holdings on our platform. So what I like. I like that bitfinex is listening to its customers. But team, make no mistake about it, this is a strategy from bitfinex to get you to keep your coins on their exchange. Now you’re. He’s now your coins. And also this is probably away, there’s probably a fee involved. They’ll probably take a little cut as any business would to stake with them. Now which coins are available to stake? bitfinex will launch staking with support for three cryptocurrencies. Those are EOS V systems. Whatever that is. And Kosmo, says Adam. The exchange as CTO adds. Then more stable tokens will be added in the coming months, with Tasos Staking currently slated to launch in May. So this option is available if you want to state. Keep in mind, this is why you subscribe. You subscribe to stay informed. Next piece of news, one-third of big caches. Supply has never been touched. Why do you think that is? Now, this is all data from point metrics. And to compare this with bitcoin because b cash is one third with bitcoin coin metrics. Estimates that 2.3 million bitcoin has not moved in over five years, comprising of about twelve point five percent of nearly eighteen point four million BTC in circulation. So twelve point five bitcoin compared to 33 percent B cash. So why is that? Well, if we look at B cash, there is a max supply of 21 million just like bitcoin. As you know, this forked from bitcoin. And when it was forked from bitcoin in late 2017, every single person that owned bitcoin got the equivalent in bitcoin cash. Now, what happened is, yes, obviously some people sold it immediately, which is why the price of cash is lower than bitcoins. But also many people just lost it. They didn’t even bother keeping track it keys keeping track of the cash in the wallet because for them it just wasn’t valuable to them. Bitcoin has been forked a few times. We’ve seen many forms of bitcoin and according to the new data, since B cash is inception, one-third of the coins in circulation has not moved. Interesting. You let me know what you think. Well, you think that is. Hey, that is the video for today. My name is Austin. Great talking to you like always. See you tomorrow.

Report

Ledger Nano X - The secure hardware wallet

What do you think?

Comments

Leave a Reply

Leave a Reply

Loading…

0