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GET READY BITCOIN & CRYPTOCURRENCY HOLDERS... - YouTube
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so we need property i get it i i get
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what you're saying about the developing
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world finally and very quickly michael
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what do you tell people out there who
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are now and that this course is growing
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a little bit louder saying bitcoin's a
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bubble yes
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welcome back everybody to altcoin daily
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my name's austin in today's video i want
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to share with you three main news
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stories we're going to talk about
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bitcoin i want to share with you news on
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altcoin cirrus as well as an update in
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this ongoing battle of the scc versus
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ripple if you're new to the channel i
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encourage you to hit subscribe right now
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we drop a video every single day
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demystifying this crypto currency market
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let's jump in starting with bitcoin this
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is a masterclass by sailor michael
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saylor on national television last night
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listen to this clip of michael saylor
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addressing three main things
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is regulation good for bitcoin he
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addresses the differences between defy
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and dap platforms versus bitcoin he
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talks about why bitcoin is digital
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property and then at the very end this
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cnbc host asks him well isn't bitcoin in
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a bubble this is about a three-minute
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clip watch this we just heard from sam
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bankman fried who is welcoming
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regulation starting hopefully he says
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out of the u.s this year
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is that your feeling or or do you worry
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that
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regulators could ultimately regulate it
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out of existence china for instance
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banning bitcoin mining
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now i think actually regulation and
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clarity is going to be great for bitcoin
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bitcoin is universally acknowledged as
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digital property it's common property
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all the question marks are around
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currencies and securities and platforms
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and exchanges
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one thing that's clear is everybody on
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earth wants to own property and if you
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live in africa or south america or asia
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what property would you rather own than
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bitcoin so you know the regulatory
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clarity is going to accelerate uh
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institutional adoption of bitcoin and
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you're going to see large flows of
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capital into the asset class as this
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continues but here's the difference with
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with bitcoin and property michael's
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property you can value it you can see
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the location and the neighbors and and
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what it's worth how do you know how can
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one determine what bitcoin is worth
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there's no balance sheet
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and it really hasn't been a long-term
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proven asset
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if you lived in zimbabwe what piece of
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property would you rather own than
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bitcoin
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if you lived in argentina and there's a
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80 percent inflation rate what piece of
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property would you rather own the
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bitcoin maybe the us dollar
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actually not the us dollar is losing 20
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percent of its value a year and
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bitcoin's going up in value every year
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so the the real the real important thing
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to note about bitcoin
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is that uh bitcoin is a global monetary
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asset which means everybody on earth is
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going to have a need for that property
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and it's a scarce desirable asset
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currencies are designed to lose value
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and you know the the dollar is the
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strongest currency but if you look at
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the lira
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take the argentine peso the the blue
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dollar rate hit 209 today
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it was 15 about four years ago so you
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can't save your money in a currency you
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have to actually invest in a property
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and for three quarters of the world they
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can't buy the s p index so it's not an
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academic question of whether or not you
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buy stocks or you buy bitcoin you can't
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buy you know stocks when you live in the
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middle of africa or egypt or turkey or
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lebanon so we need property i i get it i
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i get what you're saying about the
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developing world finally and very
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quickly michael what do you tell people
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out there who are now and that this
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course is growing a little bit louder
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saying bitcoin's a bubble the liquidity
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from the fed that that big tide is
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coming in and and it is proving to be
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just a speculative
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investment and it's popping
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yeah people were skeptical of amazon and
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google and facebook but but uh you know
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the next digital transformation is the
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digital transformation of property money
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and energy and bitcoin represents that
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transformation so
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eight billion people are going to want
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to move money at the speed of light on a
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mobile phone what i would tell them is
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bitcoin is the asset bitcoin is the
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network to move money at the speed of
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light there is no other open
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permissionless protocol to do it so
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technology is on our side this is the
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future of the internet
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all right great perspective
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give me your thoughts on this down below
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seriously do you agree do you disagree
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comment right now down below but let's
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keep moving
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next piece of news on lower cap altcoin
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cirrus
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cirrus foundation launches a web
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extension allowing users to monetize
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browsing data so i think most of you
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have probably already heard of cirrus in
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some sense they do have some major
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partners slash backers like d voice
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polygon as well as crypto.com as well as
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a super public team that has been pretty
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active in doing interviews on other
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channels in fact i encourage you to
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search cirrus foundation interviews and
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check it out for yourself but for those
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who might not know them they have chosen
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to sponsor this section of today's video
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so in two minutes or less let's go over
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what cirrus is as well as why they're
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making news today
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so what exactly is cirrus
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cirrus is bringing data and web3
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together by enabling users to turn their
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data into cryptocurrency and use it as
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the on-ramp to the new digital economy
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so cirrus is giving the individual users
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you and me back control of their data
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cirrus flips the script on large
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corporations who take your data for free
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and use it to generate billions
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instead users can control monetize and
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earn from their own data the way it
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should be using an entire suite of
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services from a web browser extension to
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mobile apps to a wi-fi router that
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supercharges data monetization so to put
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this into perspective
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right now big tech meaning facebook
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google etc amazon
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they don't really give us a choice they
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just steal our data automatically and
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monetize it for themselves
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luckily though web 3 is coming and
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cirrus is one of those cryptos fighting
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to give control and monetization back in
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control of the people like you and me
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so what is the update today
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data ownership initiative cirrus
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foundation has announced that its data
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monetization product the cirrus web
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extension is available for download as
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of a few weeks ago meaning that internet
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users can download the extension
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directly from the google chrome browser
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with support for additional browsers
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coming soon okay
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so while the cirrus device meaning the
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hardware as seen here will be out in the
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coming future the chrome extension is
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available now
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the web extension represents the user's
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first step towards using data as an
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on-ramp to web 3.0 by earning
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cryptocurrency in exchange for data a
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much needed solution to the broken big
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data model in use today the final detail
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i want to share is that version one of
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the extension enables basic data sharing
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and monetization
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and once users install the extension
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they can use their browser the way they
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normally would and check in on their
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balance and see their earnings increase
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over time of course this is all in the
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cirrus token
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so that is the news give me your
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thoughts on this mission of taking our
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freedoms back from big tech but always
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cool to check in on these smaller
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projects and see the progress being made
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and next piece of news an update on this
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case between the sec versus ripple
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the sec must surrender the hinman email
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on ethereum to ripple a judge rules
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so a federal judge ruled that an email
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containing a draft of the former sec
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officials meaning hinman's speech is not
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protected by agency privilege
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a small yet possibly significant win for
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ripple but let's unpack this and talk
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about exactly what this means
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the securities and exchange commission
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must surrender to ripple an email with a
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draft of former director of the sec's
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william hinman's speech
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on whether ethereum is a security as
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part of an ongoing lawsuit the
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regulatory agency filed against the
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crypto startup so we do know that this
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case is still ongoing and they're still
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in the discovery process in terms of
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what documents are allowed or not
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allowed to be used in this case the
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sec's attorneys claimed that these
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documents contained staffer
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deliberations and thus were protected
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against discovery yet magistrate judge
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sarah netburn of the southern district
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of the new york federal court ruled that
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while some of these documents were
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protected she ordered the regulator to
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turn over the others including the email
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with hinman speech and some notes from
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meetings between sec staffers and third
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parties that are not ripple okay so what
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exactly does this mean to you if you
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hold xrp
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well basically this email from hinman
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when he was a director in the sec
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he gave a speech back in june 2018
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telling the audience at the conference
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that in his view ethereum was not a
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security which was huge news back in the
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day we covered it and this speech was
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seen as pivotal for the crypto industry
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given that the first 60 million ether
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the native token of the ethereum
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blockchain was sold in a pre-sale was
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sold to raise funds for the ethereum
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foundation of course despite this he
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ruled it as a commodity not a security
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meaning that the cftc the commodity
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futures trading commission could then
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oversee derivatives products based on
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the cryptocurrency which we have seen
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thus far
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ripple is i guess saying hey well if
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ethereum had a pre-sale and they're okay
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how come our pre-sale is different and
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by the way maybe it is different we
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don't know yet but the key is ripple can
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now use that email as evidence in their
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case
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in a direct quote from ripple
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we're pleased with the court's order
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which grants ripple access to important
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documents that the sdc was withholding
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we will continue to aggressively defend
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this case
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and we remain optimistic the resolution
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of this case will provide much needed
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clarity for the industry
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that's the quote give me your thoughts
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on this
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but i will keep you updated and that is
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the video my name's austin like always
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see you tomorrow
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