Today we are going to talk about the recent US Senate hearing on Bitcoin. The reaction to this has been overwhelming today, making many cryptocurrency enthusiasts beam with optimism. The star of the show was CFTC Chariman Christopher Giancarlo, who truly seems to believe that blockchain technology is something to be fostered, not hindered with excessive regulation. This was a welcomed piece of good news amid tough times on the crypto markets, so let's take a deep dive in and see exactly what went down.
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Doug Polk is a professional poker player and cryptocurrency enthusiast. Crypto News is the show to keep up with the latest trends and stories involving Bitcoin price, Ethereum, Litecoin, Ripple, IOTA, investing, analytics, and various altcoins.
I am not a financial adviser, and nothing in this video constitutes financial or legal advice. Please invest responsibly and do your research with due diligence.
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Bitcoin terrifies Big Banks, because it threatens their centuries-long monopoly over the world. Because Bitcoin makes it possible for ANYONE, who has some brain and knows how to use the technology, to become rich and be part of the money elite. That is what terrifies them, because they DON'T want that. The Big Banks rather want us all to remain poor and in debt for the rest of our lives while they SUCK away everyone's money like BLOOD LEECHES . There is a war between them and us.
We want to become well off and truly independent. They want to prevent us from becoming well off and independent , the elite want to stay in power so they can do their EVIL deeds , depopulation , vaccines , all the EVIL stuff . IT'S TIME FOR THE MIGHTY BITCOIN TO CHANGE THE WORLD FOR THE BETTER.
About the volatility, when governments do as if they wanna do something against cryptos, the prices drop, if they keep their mouth shut ( because you cant ban crypto, same as the internet) the volatility is only an upward trend. So the volatility of crypto is not very much, its the news that makes it extreme volatile. about cryptos that replace the us$, Libya and Venezuela tried in the past to replace oil$ into oileuros, that meant war and boycot. USA fights back, but cryptos are worldwide USA knows they will lose this battle so if you cant fight it join it, thats whats happening now. The speed of transactions: internet was slow too in the 90's, speed of transactions will go up in the future. BTW your suit jacket is not decentralised, its old world, centralised. For the rest the video is to long to watch. Bitcoin value is related to the number of humans on the planet, as long the number of humans grows, the bitcoin value is going up, in the old world you had buildings etc that have value, in cryptos it is the number of humans on the planet.
All the guys in the video do not know a lot about crypto but they all have invested in it, just in case! Including me. lol.
I knew they were not going to bash it but so hard or really none it seems now ,it is a world wide money magnet that they can use for their system and that is what they want and that is Taxes out of what we can make . We do the work and they suck it up,,,so much for decentralization. ,,
good shit as always Doug....your a crypto legend! and your right..... get a strategy and fuckin stick to it!!!! some of those clowns from the US gov have no idea what the new financial future is about....we do!!! i'm from Nottingham England... we had Robin hood... he stole from the rich and grave to the poor....just like cryptos are.... but on a world wide scale!!!!!
@Doug on whether or not tokens are considered securities, like game skins and Doge: it all depends on whether or not the funds were raised by the company for the development of the business. If the company kept some of the money for their business then yeah they were basically securities, and whether or not people trade them after buying them or years later wouldn't change that. Many tokens, even that have utilities, may end up being classified as securities. The biggest implications of this would be then falling under all of the same regulations that securities currently are, including requiring KYC. Another reason Polymath looks so interesting, they are already SEC compliant and have the ST20 protocol for companies to easily tokenize their securities from anywhere in the world and be automatically compliant.
The Howey Test is the way to find out if any token is a security, btw.
Remember me pls.
Oh, the SEC?, let them go back to regulating stocks and bonds like the losers they are. There, they can regulate to their hearts content. Or, how about, let them get a life. Let the people go and let them invest in what they want without trying to stop them!
Look, were not little kids that your supposed to watch over. Take your 'Big MAMA' government obsession somewhere else! Were adults now and don't like being talked down to and regulated, and patronized. Who asked them to step in and dominate us?? Stick to your d*mn stocks and bonds and get lost SEC a-hulls.
Elizabeth Warren is concerned about ICO's being scams. I think she misspoke or didn't address that ICO's could do the same thing. The SEC blocked consumer protections and moving forward in Crypto, I would think you would d that critical as you and most crypto pros repeatedly state, "90% of the coins out there are scams." It was clear to me she wants to protect us by making sure theses ICO's KYC and follow some of the basic SEC trading practices. Much of which have been eliminated by the SEC hacks. By the way, not sure there really is a moderate liberal or conservative anymore. Maybe you should look into the progressive movement.
Sen. Warren's question is clearly serving a dual purpose, however it applies to protecting investors in IPO's AND ICO's. Essentially they are one and the same and deserve the same consumer protections. Protecting companies (Traditional or Crypto) from class-action lawsuits levied by defrauded investors is a TRUMP ADMINISTRATION INITIATIVE and should not be allowed in open market capitalism. Granted she is extrapolating a little here, but totally in the realm of the hearing.
Every currency is a virtual currency. The fiat currencies are all traded on computer systems. The only difference is there isn't a printed paper to represent the faith and belief of the currency you or your country uses. Gov'ts want to pull it in regulate it to the max and tax it to the max because it's now a large market cap; otherwise, they wouldn't talk about it. Major issues that crypto have is the circumvention of Sanctions to inject money into and be able to trade with the US who are restricted. The other benefit for the gov't is to have everyone using a traceable online currency so long term everyone switching to a blockchain or crypto currency will eliminate paper money and be able to track everything. Canada now does ETF, US Gov't allows and regulated crypto futures. There's an obvious trend here to where there head is at and leading right now.
When MOOOOOOAAAAAAAAAAAN !!!!!
Moons are over, pull back all, party is over, go home guys...
Have a good day rest, recover from the crypto hangover...
Come back when Sober :)
Take this advice, you will be happy later...
our US govt. didn't want cryptocurrency to be decentralised but to be regulated ,monitored under Microscope. It means ,they wanted to take over virtual currency and follows their rules and regulated. Also it means,they wanted transparency so they can tax us.They wanted us,to surrender our identity for easy tax purposes. Recently,they saw bitcoin losing steam ,so now they are boosting the steam ,for cryptocurrency trains,to rise up again, for tax purposes.
LoL I wanted to ask you about XRP and Bam! I mentioned it on this video LoL. Oh well I believe in Ripple and I am cool with your decision. I still love your videos :) It would be cool if you could make a video about Ripple why you don't like it etc. I know this might bring hate but I will not hate you just because you don't like XRP :) Negative feedback in my opionion is a very improtant feedback. Keep up the cool vids coming. Love your approach on the uploaded videos you do.
ive heard ripple was created/sponsored by the banks to manipulate/control crypto in the long term. it is not a decentralised currency. new coins are created by a select few (1% the owners/creaters/sponsors) which means they can make as much as they want, just like the fiat currencies the world currently runs on. thus they can devalue the currency with inflation, yet on the market charts, it will look stronger n stronger because more coins =more buyers = more interest = price rises and demand while the banks etc get themselves into position -they were late to the crypto game, didnt think it wld work n now they trying to catch up n take back control they used to ....
on this recent crypto drop, it has affected all but 2 alt currencies, with the exact same pattern as bitcoin. 1 of those 2 currencies is ripple, but the ripple's trend still has followed bitcoin a little bit, but not to same degree as ether or other alts. i cannot recall name of the other alt currency that was moving up when every other crypto was going down last few days -i nvr heard it b4 or since, it was on a chart within one of these 'why bitcoin is losing' vids that came out last few days. the host only made passing mention to it and ripple being only ones to not be following the crypto trend n speculated that this was because the creater/owners were making lots of coins
So as an investment, maybe ripple is ok. But i would never use it or support it as actual money.
The technology that enables crypto might just be the biggest n most democratic event since with the internet and may in the eyes of history become as vital as the discovery of fire regards the autonomy and independence of average people's money. Banks nor government want that, they want transparency so they can control our accounts n tax us n charge us for every transaction etc
Personally, i dont want some arrogant suited twat tellin me what i can n cant do with MY money
That said, im waiting until Gen 3 to buy crypto, to actually use it like money. what we got atm is steam power, im waiting for electric
I believe the guy asking if the other fully reads contracts before signing was trying to point out that most people also do not read before signing. There are a lot of circumstances where consumers are protected by laws or rules that make certain additions to contracts illegal and therefore null and void even if they are put into contracts. The ones that come to mind for me are medical industry and rental agreements. It does bother me that you have to be an accredited trader with like a million dollars to buy into ico's if you're a us citizen. While I do believe that maybe they are trying to protect people who don't know what they are doing from scam ico's but the reality is that those people will just buy it on an exchange for a much higher price during a pump and dump and be left holding higher priced bags of nothing. It actually makes it worse. It also has a bad look when joe schmoe can't legally buy into something that ends up going 100x 6 months later but some wall street guy can. kind of lame.
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