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Krona hitting all-time lows today there are really big monetary problems in play today so when we look at Bitcoin it's it's a little bit worse and I hate to say it I'm a permeable but nothing right now looks Perma about this so if we and I'll give you some hopium here if charts know the future they might be suggesting that xrp is going to win this case and I'll show you why I think that all right welcome back everybody to altcoin daily my name is Austin joined by the man the legend ta analyst in the crypto space Tom Crown thanks for joining me Hey Brother great to be here again yep returning guest and I wanted to have you on today's video is all about Bitcoin obviously what's the next move and also xrp heavily requested by the audience and I do read the comments so we'll get into both in the latter half or we'll get into xrp in the latter half the video obviously bitcoin's the market mover but first time just as a reminder what's your background how did you get into ta uh I'm just a chart nerd you know I'm I'm a guy who grew up a millennial I didn't see a lot of kind of Hope in the future and I as I got older I saw that the things that I was taught maybe weren't as real as they were pitched to me and I found crypto and it just it clicked for me like this is real this is maybe the first real thing I've ever seen and so I've just been a nerd since man uh my background is in political science and uh I've just been doing charts and stuff for years now and what's your style of ta I don't even know if that's a great question because I'm not a TA guy but how do you handle the charts you know I style is a is a good question I don't really have a defined style I try to stay just as dynamic as possible you know people really get caught up in what they're doing and their patterns and the one way of thinking and I've really learned if anything through charts is that there is no one answer and nothing continues to work it just works until it breaks and you gotta just stay on your toes always be learning new stuff uh never getting too comfortable so I don't think I have a defined style honestly I I like it and you do do this full-time you've been charting on your YouTube page for years now let's just Jump Right In what are your thoughts on bitcoin right now all right so to to answer the Bitcoin question that I think we're all wondering what's going on right now we are in some very weird times and I think what we have to do is look at some actually some different charts to to consider Bitcoin so I'm gonna pull this up this is a chart that hopefully I'm only seeing you you guys are familiar with it yes there we go this is the Dixie or the dollar and this is something I talk about almost daily through this year um this is the monthly chart so we're looking at a lot of data here this is going all the way back to about 1970.
what stands out to me on this chart is we can see maybe one two and potentially now Three Peaks or really strong rallies where the dollar strength increased greatly right now we are in one of those we're pushing up and the problem I suppose with this is that when the dollar is strong historically we have seen some blood in other markets so I'm gonna put on uh some lines and squiggles as people say and this might be a little overwhelming uh but this is what is called a dragon pattern or this is what I'm predicting is gonna do splendid show up, and you don't need to understand all of this you know jargon on here this is the basis for it that's a traditional Stock Market trading pattern and I've applied it to the Dixie chart and the problem is is if we use this pattern it does suggest that the dollar is not done going up this also lines up with what we've seen uh from chairman Powell on the aggressive or hawkish interest rate speech that we've had over the last few months uh inflation still running hot and so that lines up pretty well with what we're seeing here um if we get rid of this again and zoom in the Dixie has honestly it's stolen our parabolic run from Bitcoin where were we yeah it stole it it's well not just not even just Bitcoins we'll get into it you're you're wise uh you're getting ahead of me uh it's stolen the run from everything if you look at any chart right now outside of the dollar it is red with the exception of U.S treasury bonds uh which I'm not going to go into today but it's red the dollar is putting huge amounts of pressure on every single market and the result I think you guys have seen it it's been pretty painful I hate to say it I'm a permeable but I don't think the pain is done quite yet so we're going to look at stock really quick this is the same chart on the monthly and something I wanted to point out is if we looked back at those Peaks on the dollar those line up pretty well with some prolonged bearish periods in stocks so that's kind of the negative bearish uh dumium that I'm bringing here today is a strong dollar has correlated in the past with weakening equities especially risk assets uh if we look a little closer the last time we saw something similar to what's going on today we had a 10-year period where really we didn't see new highs it was a lot of pain and that was from 2000 all the way to 2009 uh into the 2008-2009 crisis which is interesting because right about here is when Bitcoin was created fun side fact zooming into stocks wait but you're saying wait but that 10-year period you're saying the dxy the dollar grew in strength in that 10-year period and that's why s p went down right around here in 2000 was roughly oops roughly right here at the height of the dollar there's too much on this chart to do good circles uh so a strong or peaking dollar has led to this kind of really slow grinding painful price action now I'm not saying that we're gonna have a 10-year bear Market it's not impossible nothing is off the table but what I'm building to here is that a strong dollar is really not good for anything any other asset and in the past we've seen it produce some very long painful periods and to add to my pointer to continue building on my point here what we've been seeing over the last well pretty much since the beginning of 2021 on the monthly chart again we have some very bearish price action these are monthly candles these are 30-day periods uh in 2018 2019 we kind of saw these quick dumps in 2020 everyone remembers that but they were very quickly bought up they were kind of capitulation events what we're seeing going on now starting in 2021 with the dollars parabolic climb is not quite the same price action you can see it's a little more limp it's really it's not as Snappy as it was maybe in the last four or five years and the problem with this is that it does begin to look very much like something we've seen in the past this kind of Limp price action where it's our highs don't come up our lows keep dropping there's really very little of that snappiness and what's kind of cool here is you see that same it's not quite as exaggerated but snappiness on the way up into 2000 as well uh we're on the brink of breaking potentially June's low here today and by the time this is published it may have already happened hopefully fingers crossed it has pushing in 12 hours for the audience audience at home if we break June's low we really do look to see stocks and other assets return back to about 2 000 high and so that's two-ish years wiped off of progress not the best not the best foreshadowing today for you guys unfortunately so these are things I'm keeping an eye on in a macro perspective so we do have a little bit better look when we take a look at cryptocurrency and Bitcoin but these things are still uh very much in the bubble or in the realm of uh this monetary policy we're seeing that nothing nothing seems to escape the fed's grasp I wanted to show total this is total crypto market cap so this is xrp and Bitcoin and Ada in ethereum and everything combined and something that's interesting to me and this is maybe the hopium for the show is if we look back to 2017's high and even 2021's open our yearly candle is very ugly but it has seemingly or so far found support very close if not exactly at the previous high so this would be a very classical a technical analysis movement would be to find a resistance like a 2018-2017 break it and then to come back and test it as support if that holds that is a great super bullish thing uh that is what you really look for in charts is resistance is to turn to support for support to turn to resistances this is almost too good to be true and what's uh good for me or keeping the hopium alive is that that low of June hasn't broken that's that's what I'm watching here we're still hovering above it with this perfect back test of resistance things are pretty good as long as a total crypto market cap stays above 761 billion going into Bitcoin that's what I want this is the good stuff this is what I like to talk about I I wanted to build it for your audience I know I love it this is a great perspective um and you're answering all my questions so keep going excellent so when we look at Bitcoin it's it's a little bit worse and I hate to say it I'm a Perma bull but nothing right now looks Perma bullish about this so if we take that same example and we look at 2017's high we're going to see two differences between total and Bitcoin the difference is clearly we've broken 19900 everyone knows that uh currently we're still trading below it whereas if we just look back at total quick again remember touched it Wicked and bounced trading below but it's just a wick it's not like the full candle back in 2017.
well yes there's two full candles both that you know finish the same around the same price 2017 2018.
why yes why is the wick more important educate me so you can use candles or you can use Wix that's honestly not totally uh black and white when it comes to technical analysis we could I think what I'm ex what I'm showing here is we did use the Wix on total and so if we use the Wix here on bitcoin we do see a little bit different picture the picture is not quite the same we absolutely could use the candle closes and that actually I wasn't going to talk about it but it's a good thing to bring up that would be the next macro support that I see so if you're bearish here you don't think June's low is going to hold 13 8 39 that's where I would have my sights that would be absolutely a strong support you can see that on these yearly candles like you said you saw it close we fell and then even in 2019 that's exactly where the yearly High rejected from so that's a super important level on a technical uh from a technical perspective to bitcoin without a doubt uh another difference also is that bitcoin's yearly candle is actually trading lower than 2021 that has never happened in bitcoin's history this candle hasn't closed yet but we've never even seen it do splendid show up, in truck handle meaning before the close so even if we do see into the end of the year we still have a whole quarter left if we see Bitcoin rally above 29 000 includes the year out there uh that would be a more bullish perspective closing 2022 below 29 000 is a pretty bearish take we've never seen it do splendid show up, before and I think I glanced over this I meant to show this earlier maybe we can mix this up in the post edit there is no edits this is there is no edits except for the clip I pull at the beginning this is being published full-on good my my mistakes known um we can see on total that is this is kind of uh the juxtapacation I wanted to show is that there are little different pictures uh total actually isn't below the previous year so that is when a chart or when a candle trades below the previous one we call that a bearish engulfing if we zoom in we see that total on the yearly never bearish engulfed it hasn't bearish engulfed here yet Bitcoin is there it's currently Parish engulfed it's broken its previous high and unless it can close above 29 000 this year it's a pretty bad close um this is not the most bright and bullish Outlook I know I know I'm usually always so optimistic I still have hope but this is really how I see the Bitcoin chart for the next four months the next three and a half months here is we need to close candles definitely above 19 900 we don't want to go back and be trading below the previous Cycles high if we do we're likely to find support at around 30 or 13 800.
uh but my real real hopes is that September closes above 1909 and we see Q4 push price back above 28 9 or 29 000 and to eliminate or invalidate that bearish Divergence on the yearly it might be hopium it might be but there's a lot of stuff going on as we've already even talked about in this episode we have a lot of bigger forces than Bitcoin at play here with the FED with the dollar with stocks and really the global economy we don't even have time to go into all of it um currencies right now are collapsing we're seeing some like these Swedish krona hitting all-time lows today there are really big monetary problems in play today and maybe your audience can take some solace in this is why Bitcoin was created let's hope it works as it was intended to function right it doesn't mean it's going to be moved tomorrow but uh hopefully hopefully it finds strength where other markets continue uh to not find that same strength so I I just went I just got in full chart mode man uh I don't know if I answered all your questions I told you I was a nerd man no I love this I love the charts I love the perspective and just to sum it all up and you kind of kind of already have done that but because the Dixie dxy the strength of the US dollar relative to other currencies continues to blast through local highs continues to go up there's no reason to expect Bitcoin to go up based on history of the stock market based on history of crypto and the dxy probably won't change until the FED stops raising rates it does seem like they're looking to break something uh before before any changes are made certainly they want to see unemployment up they want to see the housing market cool and they want to see inflation cool and we haven't seen any of those changes yet so you're spot on those factors are huge um it's possible that crypto and Bitcoin could separate and totally act on their own we just haven't seen that yet so at the moment 100 that's what I'm looking for and I know there's one more chart your audience wants to see before we get to xrp final question what are you personally doing I know you have your trading portfolio and your huddle portfolio I assume are you did you buy any of the dip at 18 000 are you 20 20 like what's your strategy yeah that is that is the million dollar question right now because if you really take into consideration everything I just said it doesn't give you great options right we're seeing almost everything bleed every Equity every other currency really the only things that are doing well is the dollar in bonds U.S bonds um that doesn't give you a lot of room where does Capital go right now at the moment the dollar is the only Safe Haven at the same time the dollar is at record hot inflation so the dollar is guaranteed losing value it's just losing value slower than everything else my personal my personal play right now is I have had some cash I've been stocking it for the last few years I'm not really looking to any move until I see some kind of mix up on the global scale of what's going on with monetary policy I think I'm going to just sit on that cache so if Bitcoin drops to 13 000 you're not gonna take a portion and buy some of the dip you're tempting me you're tempting me ah that could be in Play It's Gonna depend on what that looks like I think and what the environment is um I also guys have been in Bitcoin for six years so I have had years of buying Bitcoin at much lower prices so these aren't as appealing to me maybe as they are to some of you if I was a new investor 13 8 I would I would be locked and loaded I'd be ready um but I've had time to buy at this price is just not quite as exciting to me if we were to see some kind of crazy collapse and maybe trading downwards of ten thousand I would definitely start writing some of my own Capital but for the moment I'm sitting in the safety again safety the guaranteed losses of dollars year over year uh that's my strategy until something changes Tom in about four six weeks I want to bring you back on I want to revisit some of these charts get your updated perspectives perspective the link for your stuff again I'm going to stay subscribed Down Below in the comments uh video description let's talk about xrp last week both the SEC and ripple Labs filed for a so-called summary judgment essentially telling the judge that they want the ruling today before the trial or or ASAP setting the expectation that we could get um a final ruling on this lawsuit before Year's End thoughts I think that would be awesome timing uh I am not I always say this I'm not the hugest xrp guy I have some xrp yeah I love my Litecoin and but you know what our xrp and Litecoin Bros out there we are we are both kind of kin man we we've we didn't get a new all-time high uh in this cycle so fingers crossed we get it together here in the future I don't know too much about the case other than I really do hope they win I I'm rooting I'm always on team crypto I I'm rooting for them and I'll give you some hopium here if charts know the future they might be suggesting that xrp is going to win this case and I'll show you why I think that this is the xrp chart on the monthly time frame for the last let's say three months xrp has Consolidated around 30 cents it's held this very strongly and we can see uh in June's low it hit oh just under 29 cents maybe July August and now into September those lows were defended that's what we're watching for uh on bitcoin to hold hopefully Bitcoin has the same Jive that xrp does here um it's looking really solid right now the rest of the market is not seeing so much upside while xrp has made a big move this week I'm going to zoom in a little bit more here I actually streamed this a few days ago and I was very very proud of it you can see the consolidation here on xrp kind of bounced around that level and my eye was set on 39 cents 39 cents was acting as a very strong resistance on the way down this is what's called an order block where we see this big red candle tiny green candle big red candle that typically creates resistance or selling pressure and we do see xrp responded to that level on the weekly pretty tightly moving up rejecting moving back down but still holding the lows in the last few days we saw xrp close the highest daily candle in a hundred days it closed uh maybe the next 24 hours it took a little breather and it exploded up to 50 cents that was my upside Target mostly because it's just a psychological number it's very easy for people to visualize 50 cents then say 48 and a half cents 50 cents uh what we call psychological number and I always tell my audience these almost always interact with price action but they're rarely the major pivot Points so I'm not totally convinced that xrp um I'm not convinced that it's necessarily done with this rally it may take into next week and the week after that you know there's no instant satisfaction here um but I'm looking for a return to looks like January 2022's lows here we had some kind of support at around 61 62 cents that is where I think xrp is going to be in decision time if they win this case and we get xrp gets re-listed on many exchanges and there's a lot of buying pressure I would expect to see 61 cents break this to me is likely going to be the telling kind of foreshadowing of the sec's decision here coming up um but this is really moving against the rest of the market and if you were listening to all of me rambling here today I was kind of suggesting how all these markets are intertwined and they're all moving really similarly so it is uh it's a little suspicious or eye-catching to see xrp makes such a strong move right now I I think that it could be suggesting that the SEC case is at least coming to an end or there's some kind of positive news on the horizon if xrp if Ripple Labs wins the case you are thinking potentially a breakout over 61.
how high could that go and then what if we break down what if they lose the case what's the bearish scenario oh yeah oh yeah um so again I'm not a legal expert and I don't follow the case very closely so yeah yeah that's it it's so much I love it you don't have to hate it you just trade it it makes life so much easier right um if they lose the case xrp does have very strong support at about 22 cents and how I said I'm not so interested at Bitcoin in at uh you know 18 000 maybe at 13.
I can't be interested are you sharing your screen I wasn't but I will okay you don't have to I just want to be sure sorry I'll stop interrupt there is there is strong support down here at 22 cents for xrp we saw that all throughout 2018's bear Market this was really where uh it built a very strong Foundation of buyers I think there's likely to to be buyers at that level again even if the SEC case is lost I might be tempted even I'm not the biggest xrp guy but at 22 cents I might be tempted to pick up a little more xrp I bought some a long time ago but uh that's a pretty good sale in my opinion if they win the case I think it's reasonable to think xrp is going to take another shot at least at its 2021 High that'd be around a dollar sixty I guess this chart doesn't have all the data but xrp traded I believe it was to three dollars in 2018 something around there if they win the case uh it wouldn't surprise me to see actually the entire crypto Market see a little bit of Rejuvenation we might see bringing it back maybe even Litecoin returning to its previous all-time highs I don't think that's out of the question for xrp you know even throughout de-listing uh throughout the SEC case it hasn't done a ton of upside action but it hasn't broken to new lows it's really held pretty strongly throughout all of this and it's still in the top ten if it has a huge uh event and people get very hyped and lots of money pours into it the whole Market could see upside action with it so I'm rooting for ripple I'm hoping the chart is is showing us a little bit of the future it has done that in the past but you know this is all just analysis it's a study it doesn't know the future I don't know the future um but I'm hopeful Tom I'm really glad I had you on today this was really great perspective and I'm not a TA guy so I'd love to see the TA side of crypto um links for all your stuff are down below I encourage my audience to check it out final thoughts for the altcoin daily Army oh going to hilly Army if you've made it this far fam you've made it through you've made it through a lot of the pain you're likely you're likely gonna it I think you're gonna it I believe in you how about I leave you guys with that I believe in you I love that man foreign
And what does this all have to do with the banking system Well stick around in this episode of Crypto Whiteboard Tuesday we’ll answer these questions and more.
Hi I’m Nate Martin from 99Bitcoins.com and welcome to Crypto Whiteboard Tuesday where we take complex cryptocurrency topics break them down and translate them into plain English.
Before we begin don’t forget to subscribe to the channel and click the bell so you’ll immediately get notified when a new video comes out.
Today’s topic is Ripple and XRP one of the leading cryptocurrencies around.
Have you ever had occasion where you needed to wire money to someone only to be told it might take several days for that money to appear in their account That’s because most major banks are still using systems that were built 40 years ago for this task.
Swift MoneyGram and Western Union are just some examples of slow expensive and relatively limited systems that financial services use to transfer money.
On top of that not all of the banks are connected via the same network.
So in many cases you don’t even have a direct line between two banks when they need to transfer money from one account to the other.
In order for bank A to send money to bank B that it doesn’t have any direct relationship with more often than not it will have to go through several intermediary banks searching for common network connections between each other in order to clear a path for the money.
That’s why international wire transfers are so slow and costly; Each bank along the way takes time to process the transaction and a fee for servicing the process.
In some cases bank transfers must involve currency conversions which things even more problematic and expensive.
For example directly transferring currency from Japan to Nicaragua means turning Yens into Cordobas which is generally not feasible.
The reason is that Japanese banks don’t usually hold accounts denominated in Cordobas because there’s not a lot of demand for them.
However both Japanese and Nicaraguan banks hold accounts in dollars.
So instead an individual or bank will usually trade Yens for Dollars and then Dollars to Cordobas.
As you can imagine this process can be costly due to the multiple conversions.
In short the banking system today doesn’t have a main connecting network with a uniform set of rules.
Each time you want to exchange or send money through the banking system you need to find a path to transfer that money depending on the circumstances.
That’s exactly what Ripple is here to change.
Just like the Internet has its own rules or protocol to transfer information known as http.
RippleNet uses a protocol known as RTXP for moving value around the world.
Ripple Labs the creators of RippleNet aim to create the “Internet of Value” - a way for money to move as quickly as information does.
Through the use of RippleNet there is no reason to pay a fortune and wait days when transferring money globally.
The idea for Ripple was actually first conceived way back in 2004 by Ryan Fugger and was called RipplePay but in 2012 was passed to Jed McCaleb and Chris Larsen who founded OpenCoin later to be called Ripple Labs.
Unlike most cryptocurrencies who focus on the individual Ripple Labs aims to serve banks and payment providers allowing them to lower transaction costs and expedite settlements.
But how does it all work RippleNet is a network based on a set of rules known as the Ripple Transaction Protocol or RTXP for short.
The network consists of computers known as validators that are spread around the world and maintain a shared ledger of who owns what.
Validators sure every transaction sent through the network follows the RTXP rules.
Anyone can run a validator and help maintain the Ripple network just like anyone can run a Bitcoin node to maintain the Bitcoin network.
Companies who want to access the Ripple network can use gateways.
Gateways which are usually run by banks act as entry points to Ripple for people outside the network.
It’s the same idea as going to a bank or a credit company to gain access to the banking system.
So Ripple basically offers businesses an alternative to the banking system in the form of an Internet of value called RippleNet.
Ripple products like xRapid xVia and xCurrent are offered to companies in order to optimize their current solutions for transfering money around the world.
It’s worth mentioning that for you as a customer of a financial service using Ripple this solution is transparent.
If the bank switches to this technology your bank account balance could be residing on the XRP ledger tomorrow and you would never know it.
This all sounds great but what type of currency can actually be sent through the Ripple Network Well unlike other cryptocurrency protocols which support only their own asset Ripple offers two different types of “currencies” IOUs and XRP.
IOUs are tokens on the Ripple network that can be stored on any Ripple wallet.
Just like we can store a variety of Ethereum tokens on an Ethereum wallet we can have plenty of tokens coexisting on the same Ripple wallet.
But we really should stop the comparison here since this is as far as the similarities go.
Any participant on the Ripple network can issue an IOU however an IOU doesn’t represent something you OWN.
It represents something you OWE.
It’s a debt an obligation to pay back something you got in real life.
When I issue an IOU to someone it means I owe them something.
When I hold an IOU issued by someone else it means someone owes me something.
Each IOU has a name that is comprised out of who issued it and what it represents.
For example USD.Bitstamp is an IOU issued by Bitstamp promising to pay back USD dollars.
An IOU can be issued for any type of real world asset.
For example you can have an IOU for dollars EUROs gold oil airline miles and even cows.
For each asset we borrow we will issue a new IOU.
Unlike other forms of debt that can be traded IOUs for the same asset type are not interchangeable if they were issued by two different people.
For example if I borrow money from you and issue you a 20 USD.Nate IOU that IOU can’t be added to a 20 USD.Bitstamp IOU.
Since each IOU has a different credit line or trust line you can only redeem the USD.Nate IOU from me.
It’s important to note that the IOU itself is not the asset it’s just a promise by the issuer to give you the asset back in the future.
This promise won’t do you any good if the issuer isn’t good for his word.
That’s why trust plays an important issue with IOUs.
In order for you to accept an IOU from someone you have to trust that they will be able to pay you back.
In RippleNet this is known as a trust line.
A trust line is somewhat similar to a line of credit with the bank.
It’s an agreement to trust someone up to a limited amount of money.
Aside from IOUs there is another currency the Ripple protocol supports - XRP.
XRP is a currency issued by Ripple Labs to help transfer payments through the Ripple Network.
For example if a bank wants to move large amounts of money instead of needing to use multiple intermediary banks to transfer the money it can just convert the money to XRP and send that XRP to the recipient bank.
It’s important to note that two banks don’t have to use XRP to transfer assets between them.
Instead they can choose to keep an ‘open tab’ using IOUs only without ever closing it.
Still XRP is a form of payment that unlike an IOU is final and is considered a tradable asset by anyone on the network.
Unlike IOUs XRP is the actual asset so there is no counterparty risk.
In other words once you've received payment in XRP the transaction is made and there’s no fear that the other party will not meet its obligations for payment..
So if no trust is needed and no trust line needs to be opened when sending XRP to other network participants why do we even need IOU The simple answer is that XRP being a cryptocurrency asset by itself is relatively volatile and also not respected worldwide.
IOUs on the other hand are treated and valued as the assets each represent.
XRP has additional advantages as well.
It’s fast and scalable.
Sending an XRP transaction through the network takes 4 seconds as opposed to Bitcoin’s 10 minute average.
Also XRP can handle 1500 transactions per second while Bitcoin can handle only 7.
So the upside of using XRP as a form of payment is pretty obvious.
One question people ask us a lot is “if XRP is a cryptocurrency can it be mined” The answer is - no it can’t.
Mining in Bitcoin is done in order to confirm and determine the order of transactions on the blockchain.
In Ripple transactions are handled through a different process.
Let me explain When an XRP transaction is broadcast through the network the validators that maintain the network decide if it’s valid or not through voting.
When a validator receives the transaction it consults with other trusted validators and they vote on whether the transaction is valid.
If 80% or more vote it “valid” - the transaction is updated in the Ripple ledger.
This list of trusted validators that a validator consults with is known as a Unique Node List or UNL for short.
Each validator has its own UNL.
Deciding who will be included in the validaor’s UNL is completely up to the person who runs the validator.
However Ripple offers a default list of trusted validators.
Validators don’t get compensated for their work like Bitcoin miners do with new coins.
When Ripple Labs started out they actually issued or “pre-mined” a total of 100 billion XRP and according to the Ripple protocol no more XRP can ever be created.
You might be wondering who owns all of these pre-mined coins 20 Billion XRP were given to Ripple founders - Jed Macaleb Chris Larsen and Arthur Britto.
Ripple Labs holds around 7 billion XRP.
40 billion XRP have been sold to companies and individuals.
The remaining supply is sealed in a smart contract that releases 1 billion XRP into Ripple Labs’ hands each month until all of the 100 billion XRP cap will be reached.
XRP can be divided into 6 decimal points with the smallest unit being known as a drop.
If you want to hold XRP you will need a wallet that supports the currency and a minimum deposit of 20 XRP in your account.
This is done in order to prevent people from spamming the Ripple Network by opening a large number of accounts.
One last thing to know about XRP is that the XRP supply decreases over time making it in theory more valuable as time passes.
This is done through destroying the transaction fees attached to each XRP transaction.
For example at the time of shooting this video we’re down to about 99.99% of the original 100 Billion XRP.
The “missing” XRP are transaction fees that have been destroyed and can never be used again.
So is it a good idea to invest in XRP When people invest in XRP they are basically betting that in the future banks and institutions will use XRP to move value and will therefore buy XRP and drive up its price.
Of course banks could always use IOUs instead and that will keep XRP’s price rather stagnant.
Therefore the question of “will XRP rise in value” is mainly a question of whether a majority of banks and payment providers choose to utilize it instead of their current infrastructure.
Before we end this video I want to touch upon one more subject and that’s the criticism about Ripple being a centralized platform.
There are many arguments for both sides and while I clearly have my opinion I will try to display some of the main points of debate.
Just like Bitcoin once Ripple’s protocol is published Ripple Labs has no control over it.
Validators run the code themselves.
This is pretty similar to Bitcoin’s core development team maintaining the Bitcoin protocol but having no real control over the nodes that run it.
But while Ripple Labs doesn’t control the protocol it does have a lot of influence since it is the organization maintaining it.
So if for some good reason it determined to create more coins it might succeed.
Ripple Labs is sort of a central bank for RippleNet.
The Ripple protocol itself is open source meaning that if Ripple Labs ceases to exist the validators can still run the network themselves.
On the other hand products the company offers to banks and institutions aren’t open source and are run solely by Ripple Labs.
The number of Ripple validators today is relatively small and is a fraction of the number of Bitcoin nodes that maintain the Bitcoin network.
Since these relatively few validators are ultimately responsible for maintaining the integrity of the network this raises the question how can we know the validators aren’t colluding in order to defraud Ripple’s users Another attribute in Ripple that raises concern is that you ultimately have to depend on trust in order to use the IOU tokens.
In contrast Bitcoin’s entire system is designed to work in a trustless environment.
Additionally while Bitcoin is free for all and censorship resistant Ripple is committed to monitoring and reporting any Anti-Money Laundering flags across the network as well as reporting suspicious activity to relevant authorities.
On the upside since there’s no such thing as Ripple mining the network itself is much more energy efficient compared to Bitcoin’s extreme energy consumption.
In the end there’s no clear answer to whether Ripple is decentralized or not.
Personally I think the real question of centralization arises when there’s one key figure or company that has implicit power over what the community thinks.
And in this case Ripple Labs undoubtedly has the most influence on the entire Ripple community making it much more centralized in nature than Bitcoin.
It’s up to you to decide if you think Ripple is centralized or not or whether that even matters.
Ripple isn’t built on the same ideals as Bitcoin.
It’s a ‘for profit’ company serving the banking system.
Perhaps this centralized solution is a more efficient means of international transaction but is it the right one That’s it for today’s episode of Crypto Whiteboard Tuesday.
Hopefully by now you understand what Ripple is and how it works - A network designed to move value around the world mainly aimed at banks and payment providers.
You may still have some questions.
If so just leave them in the comment section below.
And if you’re watching this video on YouTube and enjoy what you’ve seen don’t forget to hit the like button.
Then sure to subscribe to the channel and click that bell so that you’ll be notified as soon as we post new episodes.
Thanks for joining me here at the Whiteboard.
For 99Bitcoins.com I’m Nate Martin and I’ll see you… in a bit.
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you'd like to learn more about uphold please visit the link in the description welcome back to the thinking crypto podcast your home for cryptocurrency news and interviews with me today's Attorney John Deaton John great to have you back on the show thanks Tony thanks for having me as always man I appreciate it well John I have lots of questions for you and I know you're you're a busy man you got a lot on your plate but let's talk about the Ripple lawsuit what's new we saw a summary judgment statements from both parties the SEC and ripple um and certainly want to touch on the amicus briefs from the digital Chamber of Commerce as well as yours and much more um let's start with the summary judgments um what was your take on both all right well just procedurally so because I think there's some confusion out there so what people need to understand is that a summary judgment is an offensive motion right it's offense so Ripple found a summary judgment motion saying that there's no reasonable jury that could ever think that they violate the law neither should the judge and the judge should just find that xrp is not a security as a matter of Law and they they don't they don't get into the fair notice defense they don't get into any of that because it's just about the law right and the token how it's not a security and then the the SEC and there's motion for summary judgment they're saying that they proved and they cite evidence and stuff that they proved that Ripple engaged in this scheme starting in 2012 and that that any purchase of xrp is violating the U.S Securities laws and so they each file their summary judgment and now we have to wait for ripple to give an opposition to the fccs that's when you'll hear about the fair notice defense because if you look at the two motions right now the only one that brings up fair notice is the SEC because they have to address ripples affirmative defense saying they didn't lack notice but it's called a fair notice defense so it's defensive so Ripple will bring it up when they're defending what the SEC filed and the SEC will write an opposition to Ripples those are due around the 18th of October and then each side gets to do a reply right so Ripple mood for summary judgment the SEC opposes it Ripple gets to reply to the sec's opposition same thing for the SEC they filed their motion Ripple opposed it they get to reply those replies are due somewhere around you know November 7th to the 15th somewhere in there in November I don't have the dates memorized um so all of the briefing will be completed by mid-november and that's when it then the clock begins to tick on how long will it take for judge Torres to write a decision and a room okay and so that's sort of the procedural landscape that's happening right now you know ripples summary judgment motion I've stated before when it first happened that it's a brilliant uh argument uh on many ways I hate it because you know it's it's not like red meat it's very much about the law and how the the um the Securities Act of 1933 what they meant and they incorporate all the different state laws around the different states of the country that help form that statute so they're getting into a lot of statutory intent and things that's why they cite things like the pre-1933 blue sky laws right stuff that you know normally you don't hear of um and Ripple's argument for summary judgment is that in their research that you have to have a contract before anything else and there has to be you know it's called an investment contract that you have to have a contract and before you even get to the Howie test if there's not if the judge doesn't find an underlying contract you don't even get the house and then they say well judge if you disagree with us you find that you disagree that we don't have to have an underlying contract well you should find for because the four factors of how we don't apply to xrp there's no common Enterprise well xrp holders didn't rely on the efforts of of Ripple we win that way uh so that's basically Ripple's argument um the sec's argument I got to tell you I I was proven wrong about something Tony I actually predicted that there would be more damaging evidence against Ripple uh that we didn't know about uh I you know because we're not privy to depositions and the documentary evidence any of that and so I figured that there's going to be a couple of things that might be a couple bad days for ripple publicly right uh the people would take shots at it the haters would be able to cling on something and uh I was shocked because it's really not there there's there's no there there so to speak and it basically is a marketing case against Ripple right because Ripple sold xrp they sold xrp uh to accredited investors to venture capitalists and they sold it on exchanges uh to the public right that's a fact yeah Brad Garney house Chris Larson so um and so the SEC is basically saying they're going with a different argument Ripple's saying you have to have a contract then you apply Howie the SEC is going to argue that you don't need a contract that the the language of Howie is that a contract transaction or scheme equals investment contract and they're going to cite case law for that and they're going to say that it's the scheme that even though there's no contract between xrp holders and ripple that Ripple divides this scheme to create a secondary market and to sell xrp give it away to some people get selling going establish liquidity and they didn't have a use case and they didn't get a used case until 2018 with odl and then they they sold that to fund their business their very ambitious business and the problem with the sec's argument though is that they had to concede during the litigation that Ripple owes no obligation to xrp holders and that only you owning an xrp Tony you will claim to rip and ripple could could stop using that being and decided coin is the coin of choice and they're going to use Bitcoin for their odl and they're never using xrp again you and me as an xrp holder we've got no claim you know right we can complain and we want it means so uh what's missing in the sec's case is that issue which means there's no where's the common Enterprise the common Enterprise and the complaint was Ripple that that we are investing in xrp because of the management team of Ripple and we're in a common Enterprise with ripple and now that that's out that there's no obligation there then went with an expert witness who said that the entire xrp ecosystem was the common Enterprise that would mean you me coinbase when they listed it uphold that listed today uh developers around the world everybody is part of this ecosystem and we're all in it together and so that's the common Enterprise but I know I'm going a long time but they didn't rely on Experts and that's something I do want to talk to you about they didn't rely on any experts so now what is the common Enterprise and I won't be surprised if we see in their uh other papers that the common Enterprise and this would come in their reply in November is the xrp legend right because we all sort of have this interest in The xrp Ledger it's the xrp being the native token that's absurd because that's the software Network how is the software Network a common Enterprise but but that's basically an overview of where we stand with the uh with the summary judgments so to your point there's still a lot of procedural things that have to do splendid show up, there's certain specific dates he's October 18th and then uh subsequently in November and then uh we this thing could potentially wrap up next year right um based on the updated facts are you thinking we see some sort of conclusion sometime next year yeah unless there's a settlement there will be no decision before the end of this year all right I'm confident in saying that it's never going to do splendid show up, because um the briefs and everything's going to be due say mid November and then the next week you got Thanksgiving and then you got Christmas and you got holiday season and it's just never gonna do splendid show up, and even if there weren't any holidays do you think judge Torres can and her clerks can put together a decision of this magnitude in six weeks it's just never gonna do splendid show up, so people got to get that out of their mind if there's a settlement fine right that's one way that it resolves but if it does not settle at all if this case never settles then the earliest that I know it's bad news man but the earliest the very earliest that I would expect it would be the end of March okay there's a good chance and even Brad garlinghouse you know and it's got to be based on what his lawyers are telling you know Brad garlinghouse said look I've been told this takes between two and nine months so I would I won't be surprised absent a settlement that may first comes and we're still waiting sure you know people just gotta like you know yeah accept that reality you know maybe it resolves and settles and and we don't have to worry about that but but we'll see yeah it is what it is as far as the timeline um so if there is a settlement and I know this is a bit of speculation what do you think that looks like you know is Ripple paying a fine for 2013 2015 xrp is free to then be relisted on exchanges things along those lines yeah at this point uh Stuart El doradi who's the general counsel of Ripple Brad garlinghouse uh the CEO of Ripple they have both now publicly said on more than one occasion that they won't settle unless ongoing and future sales of xrp by Ripple or anyone else in the secondary Market are not considered Securities so the problem with the settlement Tony is that it would require the SCC to agree to some kind of statement right it doesn't it could be in writing it could be publicly announced but they would have to agree that moving forward xrp is not going to be considered a security and the SEC doesn't like to do that right except for Bill Hinman right the SEC normally doesn't like to kind of give that kind of clarity to one token allegedly um the problem that I see is more of a political one which is you sued Ripple saying xrp is a security including secondary market sales and then you want to go after all these other cryptos how do you reconcile saying xrp is not a security but xlm is xrp is not a security but algo is xrp is not a security but eth today is right and so that that's a I'm not done I'm just saying that that is a very narrow narrow like you gotta thread the needle on that one man sure to figure out how you can publicly do this and then still be able to go after you know other cryptos and so um uh I've I haven't changed my mind Tony um without the pressure of the Hinman emails and the documents that need to be turned over if the SEC is not forced to do that I don't think they settle I know people disagree with me and that's fine I'm you've said it best I'm speculating I've always made it clear that just because I'm a Mikus counsel I don't have any more insight your guess and speculation is just as good just as valid as mine my opinion is it will not unless Gary ginsler is forced right because a lot of people think that well he won't risk a a judgment because it hurts them against other crypto and I understand that I've said that myself at times but we go back to how does he say xrp is not a security but the other ones are it's a very delicate situation but uh and you know I I did a tweet today where a lot of people are thinking oh Ripple's going to win for sure because of their initial brief they don't even get to the Howie test that doesn't mean the judge is going to agree with that sure right that that's a very very very novel um concept for today and it would mean that she has to disagree with judge Castell and Telegram and other appellate judges and she would have to agree disagree with them and agree with ripple and she might not and so um so I think that xrp holders because we feel confident you know you can't get blinded by your bias or your emotion or your passion or your conviction and so uh but if if Gary gensters told by the judge you've run out of appeals can't go to the second circuit the rhythmandamus has been denied you have 10 days and let's say it's December 1st you have 10 days to turn over all those emails all those comments all those drafts and if in those drafts and in those comments are discussions of xrp why isn't xrp being given a pass hey if you say anybody you say about xrp I'm not saying that's in there but I believe there's going to be somebody right somebody is going to say what about xrp if that's in there and if even if it's even better that could be a guaranteed victory for ripple and that's when they say to Gary Gensler we're definitely losing and so settle today see if you get 50 million and we're just gonna have to say that xrp is not security we'll figure out a political way to do it and still go after the other ones but you'll be able to go on thinking crypto and say I enforced the Securities laws and I brought Ripple you know to the table and I forced them to acknowledge their wrongdoing between 2012 and 2017 or whenever they paid 50 million 100 million whatever it is 25 million um and I'm forcing this issue because these tokens violate Securities laws he could spin it into a win but until he's placed in a political Quagmire that you're definitely going to lose Gary you need to settle uh we don't want these documents turned over Kerry because they say some we don't want the public to know yeah right uh until something like that happens I think he's okay with going to judgment man because listen at MIT he's on video saying it's for a court to decide if the executive order leans towards the cftc if the Loomis Bill leans toward the cftc if the uh bill that's in the house leans toward the cftc if he sees that the political momentum is to the cftc anyways well he might be willing to roll the dice and maybe he gets a verdict a judgment in his favor he can turn around and say look I told you it was a security and if xrp is a security then they're all securities Gary ginsler Tony would sound like you and me you and I and others in our community have been saying to the rest of the world look if if there's a judgment and it is deemed that xrp today's xrp is a security then almost every altcoin is you know maybe not Litecoin maybe not those or Bitcoin Forks right maybe not but each certainly is xlm certain is you know I mean algo certainly is in my opinion cardano they're all going to be implicated and so um that's sort of my the way I look at potential settling um let's talk about the amicus briefs um obviously your friend of the court representing 70 000 plus xrp holders recently the Chamber of digital Commerce while uh their respective Amicus brief um I spoke to the lawyer earlier today and um I would love to get your take on your respective brief uh the chambers brief and then potential others entering into uh this mix yeah yeah I I believe there's going to be if I had to predict I'm not going to necessarily say who because I don't want to you know out somebody and then they don't and then I look like a dick um and so but if I had to predict I would say in addition to the one I'm going to file then it's going to be at least two others which would be four amicus briefs being filed uh in this case and so I think people have accepted now two things of why I believe that one is finally Tony what you and I and the xrp community have been saying to the rest of the crypto world since December 22nd 2020 that uh the SEC is coming after crypto yeah and you know don't just let them say this is just an xrp thing right we've we've been you've been preaching this I've been preaching it I think they see that I mean the day after the merge the day after Gary against her all of a sudden implicates the March and says that quote the proof of State merge could implicate Securities laws and then a week later we see in the suit against the influencer or whoever the the argument that the SEC has jurisdiction over all ethereum transactions right that was the Ian Molina lawsuit yeah yeah but because of the nodes being 40 but but Tony what does the SEC have jurisdiction over Securities yep so if the SEC says that they have jurisdiction on ink transactions what are they saying they don't have jurisdiction over Commodities right right I mean that's just that's as close as coming out and saying I'm coming after you as it gets and I think that because of that right people now accept ginsler is trying to kill this Market or crush it yeah to the point that the incumbents can come in and get it for dimes on a dollar right hey you know question exchange maybe Goldman Sachs comes in and takes 25 or 49 of an exchange and now they're in whatever and and then all of a sudden when those incumbents are in and have a bigger slice of this pie then all of a sudden we might see Gary against their sick well you know crypto is a great Innovation and you know we're working with uh the the entrepreneurs and technologists and and we're we're going to come to uh decision then all of a sudden whatever crypto's blessed say it's eased right uh or xrp doesn't matter it'll become the Investments of a lifetime yeah right because who has the the Big Slice now so um I just think that they they see that so I can't imagine that they're not gonna I just think that the blinders are off this isn't just about xrp this really isn't outrageous unconstitutional unlawful government land grab for this industry and we have to do something about it so that's why I think there'll be there'll be others you know I mean it's listen uh I I love the xrp holders and God bless them to be honest with you they they defend me because they appreciate the work that I've done you know and so you know I see tweets out there of like you know but Deaton's been here from the beginning whatever and then they like too late and I take the opposite of you like let's just you know we we got to get past the tribalism we got to get past any of that we have a common enemy right and we want technology to flourish yeah and um let the winners be the winners and you know if Heath flips Bitcoin let it do splendid show up, if Bitcoin takes 80 market share let it do splendid show up, if xrp becomes flips eat and that's the way the market says let it do splendid show up, and let's you know put all our energies against them so I welcome that I was very happy uh and thankful I dm'd uh Perry and boring it's like you know great job thanks um you know it wasn't uh Bruce Willis looking out the window saying welcome to the party right uh it's sincere saying you know uh we want that and they made good points and it's going to it's going to be very different than what I file sure because for one we have been in this from the beginning right we are a Miki Council I mean amiki we are we don't have to ask I still have to ask for permission for her to accept my grief but she we've been designated so um so it's gonna be different I am taking a position you know the digital Chamber of Commerce is is more is like judge we're not taking a position four Ripple against Ripple for the SEC against but we want you to be very concerned uh with your language that's really what they're saying to the judge like please sure that there's a difference between you know the underlying asset and and uh an asset that can be used right and basically what they're saying is that uh and I'd be interested I know you just interviewed the attorney but they're basically saying in so many words more articulate than I'm going to right now that hey anything can be used as the security right right oranges uh chinchillas whiskey Bitcoins been used um beavers have been used you know any kind of asset It's All About You Know the Way You package it Market it offer it and sell it and so don't focus on the token focus on how it was offered and and the Howie and and that's important because the more the judge hears that and I'm going to say that too of course uh but I'm taking a position right sure but but to some xrp holders surprised I'm not taking a position on ripples like I'm not gonna say Ripple didn't sell a security yeah that's not my job they got they got better attorneys right to do that I'm focusing on you right I'm focusing on me I'm focusing on uh your mom that that I know that bought xrp and I'm saying to the judge that we need a declaration that secondary Market xrp that is traded is not a security as a matter of law it's not security and sure is it possible that Ripple could have sold sold it a certain way many years ago okay if they prove the case against Ripple on that day that transaction's fine but you know they're trying to say and they do say any purchase of xrp is a security you see and that's that's still saying that xrp is a security right if any purchase if that's their words any purchase of xrp was an investment and a common Enterprise where we expect it to profit from Ripple's efforts that's what they're saying so they use the words any and all any purchase all xrp so I'm trying to get her to to Really distinguish that and and and it clear and also you know other things so um I wouldn't be surprised if other Amicus come out and they're more aggressive you know what I mean the digital Chamber of Commerce they could have been a little more aggressive but I think I don't and that's not a criticism that's an observation but I think that they're they're holding themselves out to like listen this isn't about a company right we're not here to defend we're here to to defend the industry from being you know uh the assets being over classified or categorized in the wrong way and we want you to be aware of that that's and so it's good I'm very happy that they did it now I want to Circle back to ethereum because a lot has changed since Bill Hinman gave a speech that ethereum is not a security obviously you had the merge to move the proof of stake entirely different protocol going away from proof of work which Bitcoin uses um and then you have uh Gary gantzer chair Gary gantzer not reiterating the same statements that bill him and Jay Clayton and commissioner Jackson all said that this speech was great it gives a an example of how we're viewing the assets and so on and so forth he refuses to talk about ethereum he just talks about Bitcoin so and once again I hold e theorem I don't want ethereum to be classified as a security um and my my thoughts around this is it seems like Gary answer is preparing and to your point of you know what was outlined in Ian bellina a lawsuit of all transactions under ethereum blockchain under the sec's jurisdiction are they looking to now say ethereum is a security it seems signs are pointing that way I believe so right but you know I also believe that they're going to sell they're going to sue you know an exchange I think they're going to sue coinbase they may see coinbase and Kraken and FX all together you know what I mean or it could be individual um listen I I I I have to resist that temptation to be like I told you so all that right I don't want to do that because there's no need but you know if you go back to a video I did a year ago I said that eath would be implicated if Ripple loses an xrp if xrp is deemed a security eth will be implicated and you can't rely on what one guy said when the official position of the SEC is that they don't official positions and you know if a republican becomes president in two years Gary against is gone and that new chairman will think eth is a commodity right might think xrp is a commodity whatever and so these are political appointees who have agendas and you know my feelings on Bill hinman's agenda I think it was a Personal Agenda all right um and and but that doesn't mean Gary it ties Gary gensler's hands and the what I've warned people about was that they say oh the statute of limitations pass because the Ico was 2014.
uh uh when's the new statute start beginning to run merge right if you go back to Bill hinman's interview I would tell people and I tweeted this out he gave his speech and there's some qualifiers in that speech but in his interview he said I'm just telling you if you set aside the fundraising today's eth is not a security that doesn't mean if circumstances change he literally said those words in an interview right that doesn't mean a circumstances change Maybe it would become a security uh so yes I because I think there's a fundamental thing that that Gary Gensler doesn't believe Hester purse Robert Jackson Jay Clayton Bill Hinman I know those four for sure Elaine Royce those five they believe that an asset can start off as a security but then over time it no longer would constitute its security and the Securities laws the policy behind them doesn't apply because they become sufficiently decentralized right Jay Clayton agreed with that in the letter to congressman Ted putt it's the bill hinman's speech says that Hester purse's whole Safe Harbor provision is based on that concept that hey it can start off as a security right we could say that about xrp when xrp was first sold and there was no other developer on The xrp Ledger and there were no other xrp holders that first transaction if that investor just sat back right uh and relied on Ripple could be a security not me it may be Exempted because it's an accredited investor and all that but I'm just saying that you could a good argument that that's a security but then you know as I say to people 2013's xrp is very different than 2022's xrp right 2013's xrp Ledger very different than 2022's xrp Ledger and so if you go back to Gary ginsler on my crypto loss site we have his MIT videos and I used it from you know the community where he says a bunch of venture capitalists went into the SEC to argue that this transition and he says quote I don't think it's going to work there's no case law that supports an asset changing I think Gary ginster believes once a security always a security and that that's his fundamental approach and so the proof of stake why would he implicate it I mean right after the merge and so I I think that uh and like you I only uh and I say to the xrp holders you know it's it's tough because xrp holders if we're going to end tribalism like Brad garlinghouse says you know you have to you have to resist the temptation of no you come now you're getting sued right and there's a difference between suing Executives who may have broke the law there's difference from wanting an investigation into the conflicts of interest and all of that I support all that but just like Brad garlinghouse said I don't believe that today's East is a security because I don't believe the way the SCC applies to Securities laws right right do I think it became more centralized than xrp yes do I believe that proof of stake because uh the more tokens you have the more weight you have like those are all issues but I still don't believe it meets the the technical legal definition of an investment contract today's ease so I don't want to see you know the SEC claim today's eth is a security right through my xrp holders that I loved and I would just say listen there's innocent if holders out there you know there's somebody it doesn't give you crap about vitalik and what he said right so so your mom like go back to your mom man your mom is that innocent xrp holder innocent he told her it's not good for crypto right or for them to say well we're just gonna erase the last you know five years and now he's everything's a security and so um but as usual the onus is on the xrp holder to take the higher Road and be like and I know there's people that that support me and they'll be like John I love you but that I want them I want revenge right I mean I get it I get it but um I I just want to see this space Foster right and and when somebody's got to stop pointing the finger you know what I mean but listen vitalik wants to tweet again that xrp holders don't deserve protection I'll go after him again like I mean I'm not backing away from anything I've said or done I'm just saying that um let's target the people that deserve investigations or deserve you know inquiries versus the moms who own eth Bitcoin xrp little algo maybe some Quan whatever you know I mean yeah there's and I know a lot of people to your point um one I'm not gonna name names but like a family friend she just loves like training and she's like I do it on the train I'm going home but she she could care less who the hell you know vitalik is or who did what she's like I just want to flip it and money okay well that's you know what that that's called Commodities trading yeah right she's a Commodities Trader right she's trading Bitcoin and he's an xrp or anything else and you know maybe maybe who you're thinking of maybe she made some good uh money on that run-up of xrp from from what 35 cents to 55 or whatever it was you know what I mean I wish I I wish I was a Trader I could somebody but the first time I sell it'll it'll it'll go to the Moon um so I want to last item here before I let you go I want to ask about Library what's happening there seems to be a delay in in decisions there well I think you know we expected a result by now the the trial date is technically if there's a trial would be October 3rd but as I said to other people if the judge and he said this in the uh oral argument he said uh a jury we probably don't want a jury to decide this which sounds like the judge is going to say what Ripple wants and what the SEC wants in their case they want the judge to the decision so so if there's not going to be a jury trial then that October 3rd date you know the judge can do what he wants it could have come out while we're talking like we'll we'll see um and if it's you know I'm hoping that you know I hope Library wins out right uh I don't think that's gonna do splendid show up, I just don't want them to lose out right right I want to see the judge say Okay um you know the token's not a security this one cell to some investment club that particular cell you know they put in code storage and they sat on you know that means that you know you can do all that and say this specific cell uh was but then say that um you know use language that is helpful because obviously if the SEC would outright win it doesn't mean the judge Torres is gonna like agree with the judge in New Hampshire because it's different laws different circuit believe not different interpretation of Howie in New Hampshire the the first circuit right uh they interpret Howie a little bit different than the second circuit and the fifth circuit the ninth circuit and so when things get up to the Supreme Court it's when you'll have differencing of um opinions between the circuits right and then the Supreme Court will say okay we're going to settle this the first circuit says you know uh this the second circuit says that we're going to decide it and then they will take the appeal before we go though I do want to because I know a lot of people watch your show and I want to say something I said on Twitter I want people and uh I know this goes to you because you've been a participant in in all of this but xrp holders have impacted this case significantly and I'm not just saying it Tony because you know I've been a part of it but remember the sec's summary judgment motion does not rely on any expert witness right and I'm sure you remember all that litigation about the one expert who was going to say what your mom thought when she bought xrp or what you thought right remember I'm not going to name his name but he became his expert one right the SEC tried to throw me off the case because I used his name and I did some Mean Tweets remember all that yeah well uh I filed emotion saying to the judge hey we should be heard and I should be able to write a brief on this expert if he's going to talk about with my people that I represent what they thought right because I think it's I think he's full of right it's gonna be like the the legal technical way to say it um well the SCC abandoned that expert did not rely on it so and part of the reason is we collected um 20 over 2500 affidavits sworn affidavits from people like you xrp holders who said look you know I bought xrp firsthand that never heard a ripple never heard of Brad Garland house I bought it because I first bought Bitcoin and it took like 15 minutes I thought I did it wrong then I bought xrp oh my God it was there in three seconds and I was like this technology is great and you know what I mean or I used the Ledger or I use the decks or I I'm a YouTuber and I've received some of it as tips and and for content and you know I I didn't use it as an investment I bought a new microphone whatever right like just we participated and uh I didn't send it to the judge but I sent those affidavits to the SEC and to Ripple and so if the SEC would have relied on that expert we gave Ripple all that ammunition right to challenge him and and and and to get in all of that stuff and so the SEC tapped out and so that's a huge huge win for xrp holders because in the summary judgment and I'll highlight this in our brief Tony they don't offer any evidence about what we relied on right they say Ripple put it on their website how to buy xrp well guess what I can say here's a CNBC article on how to buy xrp right it was a video I remember there's a video right a psyched to the video right that's what I'm saying is is so you can't prove that Tony's mom bought xrp because she they say because um Chris Larson tweeted something positive in 2014.
I wasn't even on Twitter on 2014.
my mom doesn't know who Chris Larson is she doesn't know what Ripple's website is she was just asking me hey I want to get into cryptocurrencies buy me a top five or something and and many of the uh the affidavits were people saying listen I wanted to diversify and I picked the top three yeah what you just said pick the top five so I bought xrp you know my daughter Jordan uh is on there right Jordan my daughter didn't know she knew that her dad was talking about cryptocurrencies the fourth Industrial Revolution girls right I had my daughters in high school uh in 2016 uh do a debate on bitcoin right and so like I because I was getting into it so my daughter was like when she got 15 grand when she was 18 years old uh she goes my dad's always talking about crypto you know what I'm gonna just buy one Bitcoin for ten thousand it was ten thousand at the time and I'm gonna take 2500 and buy eth an xrp that's it that's all she did like she knows nothing about the technology she knows nothing about the company Ripple and you know whether that's smart or not smart that's not the point that's not important the point is she didn't rely on them she was doing that and so there's developer affidavits about developers you know independent of ripples spin the bits you know stuff like that that had nothing to do with them so it's just a because I want them to know that taking the time taking the effort being willing to put an affidavit and put your name on it because a lot of people are like I don't want to highlight myself I don't want to like they took a stand yeah they fought back and they need to be proud of themselves and so like and it had a huge impact that's what I'm saying so yeah that's that's amazing to hear that and that uh look I know a lot of people it's been painful right after the lawsuit and they saw their portfolio value goes that go down and they've been trying to amplify their voices and it's great to hear that their voice is having impact and that's it is absolutely and and we're still it will it will more because you know uh when we get off this uh this uh video interview I'll uh I'll start going back to the brief John always a pleasure and as always thank you so much for what you're doing but thank you Tony appreciate it foreign
Le juge a en effet rendu une décision qui met à mal la SEC nous y reviendrons dans un instant ! En outre un coup d'œil sur les nouvelles brèves et le prix du XRP.
Bienvenue sur Le Roi du Ripple XRP nous avons une édition bien remplie aujourd'hui commençons par une mise à jour des prix et restons jusqu'à la fin pour Bart Simpson.
Nous aurons alors la résolution de la vignette un peu sensationnelle.
Le XRP se négocie à 4771 cents US une hausse de près de 7% qui est certainement liée aux nouvelles dont nous allons parler.
Petit tour d'horizon du marché le bitcoin se bat toujours contre la barre des 20 000 dollars et l'ethereum se maintient juste au-dessus de 1300 dollars.
Poursuivons avec les gros titres du secteur.
Une dépêche de Crypto Briefing qui est intéressante.
Ethereum est-il sous le feu des critiques La controverse sur la censure de MEV-Boost en détail.
L'article indique qu'en raison de préoccupations liées aux sanctions de l'OFAC la majorité des relais MEV-Boost d'Ethereum sont prêts à censurer des transactions.
Le relais mev-boost agit comme un intermédiaire fiable entre les producteurs de blocs et les constructeurs de blocs.
Il permet à tous les validateurs de preuve d'enjeu d'Ethereum de prêter leur espace de bloc à d'autres producteurs de blocs en tant que flashbots.
Les membres de la communauté Ethereum estiment que les actions de ces relais constituent une atteinte à l'intégrité du réseau.
Les solutions proposées par les crypto-natifs comprennent la réduction de la capacité de formation de blocs des relais le boycott des relais censeurs et leur punition par slashing.
Et bonne nouvelle pour ceux d'entre vous qui veulent s'essayer au web3 selon Cointelegraph il y a plein de postes à pourvoir.
Pénurie de personnes qualifiées sans autre formation en web3 selon des universitaires.
Huxley Peckham de la Blockchain Academy International affirme qu'aujourd'hui 60 secteurs différents utilisent déjà la technologie blockchain.
C'est ce que dit l'article.
Selon Huxley Peckham formateur en chef de la Blockchain Academy International qui déclare Il y a très peu de personnes qualifiées dans le secteur de la blockchain mais il y a une forte demande de personnes qualifiées tout en notant que la technologie blockchain est utilisée dans au moins 60 secteurs différents dans le monde.
Peckham estime que l'éducation à la blockchain est essentielle car elle permet de former la prochaine génération de stratèges et de conseillers qui ont vraiment quelque chose à dire dans ce secteur et que le fait d'apprendre à mettre en œuvre la technologie va vraiment booster leur carrière .
Il a souligné que la blockchain est l'un des secteurs les plus lucratifs dans lesquels il est possible de se lancer et a cité des postes dans le secteur qui paient 300 000 dollars plus des incitations .
Alors qu'est-ce que vous attendez Mais d'abord continuons avec la vidéo.
Encore une nouvelle qui attire un peu l'attention vous en avez peut-être déjà entendu parler.
SWIFT coopère avec le fournisseur de données cryptographiques Chainlink pour un protocole interchaînes dans TradFi Play.
CoinDesk annonce que SWIFT le système de messagerie interbancaire qui permet les paiements transfrontaliers travaille dans une première preuve de concept avec Chainlink un fournisseur de flux de prix et d'autres données pour les blockchains sur un protocole d'interopérabilité interchaînes (CCIP).
Le protocole CCIP permettra aux messages SWIFT de contrôler les transferts de jetons sur la chaîne de sorte que le réseau interbancaire puisse communiquer à travers tous les paramètres de la blockchain.
Le cofondateur de Chainlink Sergey Nazarov a déclaré mercredi lors de la conférence SmartCon 2022 à New York que cela contribuerait à accélérer l'adoption des blockchains utilisant la technologie Distributed Ledger (DLT) et à soutenir de nombreuses organisations sur les marchés des capitaux.
La concurrence stimule les affaires cela reste donc passionnant XRP et Ripple s'engagent également dans de grandes coopérations nous prévoyons d'en parler plus en détail demain alors assurez-vous d'avoir la sonnette d'alarme allumée.
Dernière nouvelle ici les producteurs et collectionneurs de NFT aux États-Unis peuvent désormais connecter leurs portefeuilles pour partager leurs artefacts numériques sur Facebook et Instagram.
Le 29 septembre Meta a annoncé que la fonctionnalité pour les objets de collection numériques était désormais disponible pour tous les utilisateurs aux États-Unis.
D'autres utilisateurs dans 100 pays d'Afrique d'Asie-Pacifique et du Moyen-Orient ne peuvent accéder à la fonction que via Instagram.
Passons maintenant à la partie la plus importante la juge ordonne à la SEC de remettre les documents Hinman à Ripple Labs après des mois de conflit.
La juge de district américaine Analisa Torres a rejeté la deuxième tentative de la SEC de retenir les documents de l'ancien chef de division William Hinman qui avait déclaré que le bitcoin et l'éther n'étaient pas des titres.
Excellente nouvelle mais encore une fois nous avons déjà été au même point de nombreuses fois n'est-ce pas Alors tout d'abord de quoi s'agit-il Pourquoi Hinman est-il important Eh bien dans le discours en question Hinman a souligné que l'Ether n'était pas un titre.
Ripple Labs considère ce discours comme une preuve décisive dans la procédure de la SEC qui affirme que la vente du XRP de Ripple enfreint les lois américaines sur les valeurs mobilières.
Les circonstances entourant le discours ainsi que le comportement de Hinman en amont ont provoqué une irritation considérable.
Bien sûr la SEC a maintenant à nouveau la possibilité de faire appel comme le dit James K.
Filan ils (la SEC) pourraient également déposer une requête pour demander au juge Torres de reconsidérer sa décision ce qui retarderait encore l'affaire.
Il est également possible que la SEC en désespoir de cause cherche maintenant à obtenir un accord.
Car ils ne veulent certainement pas donner les e-mails.
Dites-nous dans les commentaires ce qui va se passer maintenant qu'en pensez-vous Sinon il y a encore le calendrier Hinman en plus des e-mails.
Bref résumé Eleanor Terrett une journaliste de Fox Business a présenté quelques faits intéressants sur l'agenda rendu public de Bill Hinman alors chef de département à la SEC qui s'étend sur toute sa carrière à la Commission.
Selon Terrett quatre rencontres avec la société de logiciels de blockchain Ethereum ConsenSys et d'autres fonctionnaires liés au projet de blockchain étaient prévues au cours des deux premières années du mandat de Hinman.
L'ancien directeur du département du financement des entreprises de la SEC est un personnage clé dans le litige actuel entre Ripple et la Commission.
La plainte se concentre principalement sur le discours qu'il a prononcé en 2018 lors du Yahoo Finance All Market Summit dans lequel il a affirmé qu'Ethereum n'était pas un titre.
On reproche à Hinman un possible conflit d'intérêts car avant de rejoindre la SEC Hinman était associé chez Simpson Thacher & Bartlett qui est membre de l'Enterprise Ethereum Alliance (EEA).
Cette société a été créée pour offrir la technologie Ethereum à différentes entreprises.
Entre 2017 et 2018 Simpson Thacher a versé à Hinman près de 9 millions de dollars de participation aux bénéfices et de primes de retraite pendant son travail à la SEC.
Pour en savoir plus regardez notre vidéo sur le calendrier Hinman vous vous en doutez il y a un lien en bas de la description.
Pour tous ceux qui se demandent quel est le rapport avec les Simpsons et qui nous accusent de faire du click-bait et bien l'image de Bart écrivant sur le tableau noir que XRP atteint 589 dollars existe depuis 2020 c'est un mème et malheureusement pas une des prédictions des Simpsons.
Au cours de leurs 34 saisons les Simpson ont fait plusieurs fois la une des journaux pour avoir apparemment prédit de grands événements historiques.
Parmi les prophéties les plus connues figure l'élection de Donald Trump à la présidence des États-Unis.
En 2016 Donald Trump a été élu président et en 2017 Disney a racheté la 20th Century Fox.
Bien que la séquence du tableau à craie de Bart fasse partie intégrante du générique de la série la prédiction XRP est une capture d'écran modifiée qui n'est jamais apparue au début d'un des 729 épisodes de la série.
La capture d'écran modifiée a été utilisée dans une vignette par une chaîne YouTube appelée XRP talk and speculation en 2020.
Plus d'un an plus tard le compte Twitter de la chaîne YouTube a révélé que le cliché avait été spécialement conçu pour l'une de leurs vidéos.
Il semble toutefois que le tweet ait été en grande partie négligé ce qui a permis à la désinformation concernant la fausse image de se propager.
À peu près au même moment où la fausse capture d'écran est apparue les Simpson ont diffusé un épisode sur Bitcoin.
L'épisode Frinkcoin suit l'un des personnages de longue date de la série le professeur Frink qui développe sa propre crypto-monnaie.
Malgré le lien avec la crypto le générique de l'épisode ne contient pas de séquence de tableau à craie dans laquelle Bart fait une prédiction sur le prix du XRP.
Et à ceux qui disent que 589 dollars c'est impossible je rappelle que personne ne croyait non plus à la présidence de Trump.
Aucune advise d'investissement les investisseurs avisés n'achètent ou ne vendent pas en fonction de ce qu'ils voient dans les dessins animés.
Ceux qui le souhaitent peuvent encore s'abonner rapidement et ne pas oublier la cloche peut-être un like si la vidéo a été utile et nous nous reverrons.
Xrp price prediction might come true after the SEC case wraps up so guys more evidence now Bill hinman's calendars have been released and I just did a video this morning I will link that video up here on the in the top right hand corner of this video If you guys didn't catch the latest on that now this Simpsons prediction this is not a real one I wish this was real somebody photoshopped this xrp to hit 589 plus by eoy um I mean we have been seeing some positive momentum for xrp I also talked about this in this morning's video um you know although we have seen a bit of a bearish downturn xrp is ultimately still making those higher lows so we're kind of in a wait and see period if it goes lower than the uh than the formulated bottom here then we're in trouble but right now we're just waiting for that switch that turning point where xrp makes higher lows and not lower lows right since uh since that time the Bitcoin hit its all-time high we have seen uh xrp just basically making lower low and so you know this is kind of where we're at now this is a higher low and what's going to do splendid show up, here that's the ultimate question are we actually going to go lower before we start making higher highs or what and I mean I don't know why somebody's bringing up the Simpsons prediction now but it's been floating around Twitter and Mike Banfield here uh just posting this with regards to Ripple partner Valente so this is good another announcement here Valente Technologies the global leader in Cloud payment and financial messaging today announced that ACH Columbia a financial technology company has gone live with a new banking portal featuring a superior digital payments experience aligned with the social media and e-commerce platforms customers use in their daily lives the deployment is part of a wider payments modernization initiative aiming to digitalize ACH Columbia's entire payments operation with Valente Technologies guys and Valente runs on Ripple net as a result customers can now be onboarded six times faster than before they can also enjoy services with a higher level of personalization and receive funds twice as fast over time ACH Columbia will also be able to offer customers an ever increasing variety of domestic payment services through their portal and here's just a quick quote here guys ACH Columbia is investing in the future of improving the quality of our services and continue to contribute to the integration of the country's Financial ecosystem the initiative represents a complete digital overhaul that sees us transform into a fully hybrid and multi-cloud operation fit for modern times uh preliminary customer feedback has been overwhelmingly positive that's coming from Luis Alberto Fernandez pulido VP of operations and technology so by running through Ripple enabled Valente obviously this is uh proving to be beneficial for the people of Colombia wanting to transform their entire Financial system uh getting onto DLT technology one step at a time so it sounds as though they are going to be doing this for not just institutional grade payments retail grade as well so that's some interesting news wanting to thank Mike Manfield just for posting that and breaking guys is from xrp underscore Crow flare Network's decentralization progress is at 28 and so are you still wondering about your flr tokens once we are at 67 percent so token distribution event may occur so here's just the latest update here as brought To Us by xrp underscore Crow flare Network's decentralization progress uh 67 is that key Target then we will get our flare tokens or our spark tokens uh an xrp underscore Crow just also posted this everything about the flare token distribution so uh just listing it off number one flare token distribution number two how to connect to metamask number three exchanges supporting the flr airdrop and number four xrp to flr distribution ratio so um if you guys are still confused on that you can take a look at this infographic I will link this in the description of the video for you so just a little update on that wanted to thank xrp underscore Crow just for posting that also there have been Rumblings from the ECB that uh you know Free banking is a No-No this coming from Michael Branch here on Twitter we stand for Bankers says ecb's Chief Lagarde disclosed that she dislikes seeing a new period of Free banking in crypto so here are just some of the takeaways ECB Chief Christine Lagarde disclosed to in an online panel hosted by the bank of France that she does not like seeing a new period of Free banking due to cryptocurrencies according to Lagarde Central Bank digital currencies are required to maintain the role of central banks so even though we can transfer value by ourselves without an intermediary um you know of course the powers that be do not like that option and so enter Central Bank digital currencies we know Christine Lagarde and the ECB all the central Bankers around the world these guys are in the pockets of a few a handful of Elites so I mean it is no surprise that this is kind of where the message is going uh Lagarde referred to historical examples where the central bank was not there and according to her this precipitated in crisis after crisis I believe it was Christine Lagarde who was also very critical of El Salvador for example and their move towards Bitcoin well naive Kelly had a few Choice words and not for Christine Lagarde specifically but for the bank of England specifically uh Christine Lagarde described cryptocurrency uh evolution is stormy according to her crypto initially started as a cultural hype published by Libertarians and promoted by Satoshi Nakamoto uh to now being a tool widely accepted by companies such as Paypal Mastercard and visa and I'm glad they bring up Satoshi Nakamoto here because as Eleanor turret was combing over the Hinman meetings there apparently was a meeting with Satoshi Nakamoto Tim Draper and the SEC here's Charles gasparino on Fox Business uh just kind of talking a little bit about excuse me I think I'm getting sick here my voice is kind of going on me anyway guys I'm going to play this clip let's unpack this a little bit okay so we're going through all the discovery of this Ripple SEC case there's a lot of interest in stuff in Discovery we do have the the I guess the meeting logs of a guy named Bill him and who was one of the guys that essentially was at the center of SCC crypto regulation that led to the lawsuit against Ripple so they want to know everything about Bill Hinman right so they subpoena everything we get the phone logs because that's now come up by the way phone logs haven't been published lately uh yet and and then we're reading it my producer is reading it and she's like oh my God Bill him and met with Satoshi and Tim Draper and I'm like what did you say is that a misprint it says right here August 25th 2017. meeting with Satoshi and Bill and Kim Draper so I said oh my God sure it's not a misprint and we check it out and apparently there was a pre-meeting to discuss the merits of the meeting with satoshiyan I unpacked it I talked to people that were at the meeting here's essentially what went down here is essentially what went down so anyway I'm going to explain to you what happened here Eleanor turret posting this it would appear the SEC and Tim Draper know who Satoshi Nakamoto is this was from August the 23rd 2017.
and so in this SEC calendar we can see there was a meeting here with Satoshi n and Tim Draper with uh Valerie's Hispanic and I don't know why it was listed here twice but apparently they had a meeting with Satoshi Nakamoto now eventually it was revealed that Tim Draper actually got trolled rude Kermit here posting this hey guys you might want to take a look at this article as well concerning Satoshi and Tim Draper so this article was released around that time guys August 2017 The Verge reported on a self-proclaimed Satoshi who had appeared to drum up interest in a new blockchain and the mysterious figure schemes now seem to have attracted interests from some of the cryptocurrency world's most influential players email shared by the mysterious developer revealed weeks of planning alongside a major investor and several SEC officials many details of which have been independently verified by The Verge throughout August the supposed Satoshi and prominent Bitcoin investor Tim Draper were in discussions for an initial coin offering based on the new coin blockchain talks that seem to have abruptly dropped off when Draper lost faith in the scheme late last week so Tim Draper uh finally tweeted out I got targeted by a Satoshi fake he was very convincing and wasted a lot of my time could have been much worse watch out so ultimately uh Eleanor turret also realized this alas was indeed a fake Satoshi that targeted Tim Draper in the SEC still quite interesting that some random guy got as far as holding a meeting with the SEC officials claiming to be the Bitcoin founder so Tim Draper actually knows who Satoshi is not they still had this meeting with the SEC which begs some more questions okay this is not the end of this story guys uh John Dean here to all the morons out there especially BTC Maxis taking shots at a young journalist for bringing up the Satoshi Nakamoto meeting so he's just tweeting out the same tweet from Eleanor turret here uh WTF is wrong with you people on the calendar of a high ranking director at the SEC is an entry about a meeting with Tim Draper and Bitcoin billionaire nonetheless and Satoshi Nakamoto and you fun of her for raising the issue how is that not newsworthy to look into so I mean I guess the Prominent Point here was that even the SEC had confidence that they were talking to Satoshi Nakamoto and Tim Draper at that meeting of course it was uncovered days later and when was this tweet from I believe uh Tim Draper tweeted it a couple of days later so this was August 25th and uh the meeting was supposed to do splendid show up, on August the 23rd so two days later Tim Draper finally comes out on Twitter and says uh no it was a fake but that's not really what interests me what interests me is something else okay so Mr Clean X here posted this Satoshi has been identified by the SEC but has denied disclosure of his identity to investors now this is on the presumption that the SEC assumed that that was the real Satoshi all investors of coinbase must read this okay so this is from the sec.gov website we support a diverse portfolio of crypto assets for trading in custody however for the year ending December 31st 2020 we derived the majority of our net revenue from transaction fees generated in connection with the purchase sale and trading of Bitcoin and ethereum this is a statement I guess that was made from coinbase these trading payers drove over 50 percent of total trading volume on our platform as such in addition to the factors impacting the broader crypto economy described in this section uh our business may be adversely affected if the markets for Bitcoin and ethereum deteriorate or if their prices decline including as a result of the following factors now get a load of this right down here one of the factors the identification of Satoshi Nakamoto the synonymous person or persons who developed Bitcoin or the transfer of satoshi's Bitcoins so their business could be adversely affected if they knew the identity of the real Satoshi Nakamoto wow you guys remember a few months ago I did a video on uh the potential four people that could actually be Satoshi Nakamoto and I will link that video up here if you guys didn't catch it JV here posting this uh just to give you guys a reminder don't change the fact that Homeland Security knows who the four satoshi's are we looked at Bitcoin it was the most prevalent at that point we had seized quite a bit of it millions of dollars worth under the Silk Road investigation so one of our agents who started looking at another Online Marketplace through the Deep Web which was called Black Market reloaded they were sending weapons through packages and throughout ordering them on the dark web and he was really really smart forward-leaning agent and he goes I want to go interview Satoshi Nakamoto and we're like What He said yeah I want to go interview this guy at the time we're like hey it's a figment of somebody's imagination maybe it's true maybe it's not true so you know we had all this pushback from our headquarters and we thought hey if an agent wants to go talk to him and we have some money why don't we send him let's find out how this works so as it came to be the agents flew out to California and they realized that he wasn't alone in creating this there were three other people and he they sat down and met with them and talked to them to find out how this actually works and what their reason for it was so this was an agent from the Department of Homeland secure 30 confirming that they sat down with you know the group calling themselves Satoshi Nakamoto excuse me um sorry guys I am losing my voice I guess this just brings me back to the point Department of Homeland Security knew who Satoshi was had to discover who Satoshi was so this is one governmental organization the SEC also had no idea as late as August 23 2017 who Satoshi Nakamoto was so the theory that Satoshi Nakamoto is actually the US government now to me doesn't seem like it holds water I mean why would these guys go to lengths to have a meeting with somebody that they do not know claiming to be Satoshi Nakamoto and of course just going back to this discovery as well the department for Homeland Security sat down stating that Satoshi is in fact four different people so it really does now get me wondering is the intention or was the intention behind the creation of Bitcoin completely organic or had it been produced by a foreign government perhaps China Russia I know we've heard Rumblings of that but I do think you know despite the Dave David Schwartz NSA connection this puts to bed the idea that Bitcoin was created by the American government that's just my opinion but I want to hear what you guys think please subscribe to the channel if you haven't already like the video if you like the content I'm providing I always love hearing your comments see you in the next one guys