40 Banks Creating Crypto | Bitcoin Back Mortgage



and we are like good-evening crypto warriors welcome back to Jim in the crypto episode 373 today is Thursday April 4th I'm King not bitcoins day we're here bridge the gap between cryptocurrency in the community Monday through Friday at 3 ish that's issues at time today we have a lot of good articles we'll be talking about the World Economic Forum report that came out that said at least 40 central banks are considering using digital currencies billionaire Brock Pierce takes out first-ever Bitcoin back mortgage canady Canada's was the Canadian person is it Canada sees one point four million dollars in Bitcoin holdings and reportedly largest-ever forfeiture and melasma at least bit Mex is gonna compensate some users affected by that unforeseen bull run that other day but first a cryptic coin winner actually don't have one yesterday because we'll be announcing it Friday you remember the question from yesterday is what do you think the price of Bitcoin will be on Friday you can still put in those submissions in that video from yesterday today we'll look at that again I'll make the decision on Friday okay until then what's going on Shannon Allen Tessa Hogg I'm gonna say bitcoins a because the type in there as well dexter head senior Clarence Dennison crypto Thai well here we go then Shannon Allen say he'll talk to us about bit cryptic point updates later new wily a lot of good stuff is going on can't wait look forward to attention oh yeah alright top story WEF report again row economic forum report for tea central bank's are considering digital currencies blockchain tech again coin Telegraph Handclap ali-a I love this artwork you got like a guy that business suits it off you know it's oxford shoes I had his briefcase there and he's dipping his feet in the water like the scared cat that he is right next to him again this is amazing oh not only is he putting his foot in water but it looks like to be a decentralized distributed version of water here as we can see but yeah it doesn't dozens of central banks around the world are currently or soon will be experimenting with central bank digital currencies according to a recent report from the World Economic Forum I'll link to that report as bitcoins a tells you about a future we predicted I think a year or so ago we saw ten CBD Seward's in one article right yeah absolutely and I mean honestly the fact that this report is coming out now means they've already started I believe there we go most of the banks that are experimenting they already a year or two beep and they just want to put this out there but you know hey we're coming when we come you know it'll be full force however like most people who have looked at blockchain technology it is not the same as cryptocurrency when it comes to CBBC's because it'll be a private letter so we all know this for people that's watched us they actually said they counted 44 different central banks that are exploring this and they said this has yielded some mixed results which I mean for them honestly a big could just see our 3/4 and see what went through with the the first trials when they try to get in a profit blockchain going they would see that it doesn't work the private is useless if you can have my sequel or a database so hopefully they realize that but I'm I can guarantee you they're gonna market it away where it's like this is more efficient they're gonna lower the fees or whatever they have to do to make it seem more efficient or there's little time people you so they're working on these a lot sharing technology to me is you know it's is sort of a non-starter because we've already talked about it for a while however now that they put out the story you know that they they have actually been working on it so I seriously doubt their central banks who are just now getting teamed together right who did stuff so maybe some private companies you know we've seen companies put out job applications with job forums but it definitely not a central bank they've seen this coming five years ago so yeah I think this this story just confirms what we've said before and going through this World Economic Forum report here as you can see if you're watching on YouTube for one definitely wanna do some homework on Ashley land quiz to see who she is the Project Lead blockchain and distributed ledger technology for the WEF I even know they hire this position again I would love to see her qualifications anybody knows her personally I heard her talking and comment in there here on the part one research experimentation and early implementations they talked about how the CBD CSR implemented the pilots they talk about central bank issuing these digital tokens on a what they call a distributed ledger that represents an are redeemable for central bank reserves and the domestic currency however in the following paragraph they say the central bank's typically used quote permission blockchain network implementations whereby participants are limited and must be granted access to participate in the network and use set of transactions again we're talking about the internet and intranet there's a reason why people don't use introduced with slow-moving businesses and big bureaucracies I mean today it doesn't make sense so right here in the first paragraph when they talk about how this is going to be on the distribute ledger they don't say it's a private issue relation and just give you idea about that imagine working at I don't even make it like a huge company imagine is working at a McDonald's Store and only everyone that works inside this store can get on this blockchain of this distributed ledger that means it's private only people in the store have access and guess what if they're blocking access from everyone else that all the other customers that walk to the store you can guarantee they're gonna be different levels of access or people that actually work in the store so ignite right just like right now so what they doing are is literally nothing different but instead of having if they do it like this which we're a company still doesn't make that much sense instead of having a lot of security and protection on one server they're saying that we're gonna you know we're gonna divvy up that security amongst all the nodes and our corporation which I highly doubt because of security leaks you're not gonna be working at Apple with a distributed ledger or anybody can download so exactly everybody can download the new iOS or the Apple 12 phone whoever so you know their whole thing part well this what I want to see who this person is mister name again Ashley Atlantic question link since she's you know I guess responsible for some of these writing or how the directions some of the banks are moving I mean this literally doesn't make sense this is good PR being written up right here I mean honestly you know they they've stated here that the Bank of France has actually been using etherium with smart contracts and a private etherium implementation going on every time they put private in there you're just stop listening to it right it's like no sense it so they say private it's like okay well that's a right there we have a private thing uh and then the third paragraph again and highlight central bank chooses according to suitability and availability the type of network and its internal mechanisms most importantly inferences the decentralized consensus mechanism the network uses for participants to reach agreement on ballot transactions of course a central bank would decide not to use the one thing we keep talking about before we got to it that's the decentralized consensus part the part about the blockchain technology which makes it so powerful is that no one owns it all back no one owns any of it everyone can get a piece of it you know some different utility suckers have ways for your vote count a certain way but we're talking about pure Bitcoin I mean we know how that works so again this literally makes no sense at all again you kind of go down and this that's just the first page if you go down to article goes in detail talks about is ten use cases for CB DC's and literally as you can see on this page the use case the first few that actually are real use cases you can do already and then of course they get into the know your customer money-laundering information exchange and data sharing trade finance this is how you get your your qyz your quantitative easy your derivatives and derivatives like the first ones makes sense settlements payments got it then the second part well we wanna know who's doing the money how they're doing the money we wanna know all about your information when you send their money you want to know about your data your broker your trading how much money you have what's the supply chain of how you send your money and for that I think there's some how I eat some things like the Lightning Network but again all of that is just so they can add derivatives on top of derivatives or charge the taxpayer by saying something crazy like hey we can now prove even though this is a big lie that terrorists are using this absorbent amount of crypto to finance other so again you can read the report although honestly just be a waste of time this report or to say write this report could have been like one paragraph I mean I'm talking like four to five seven paragraphs just like we only write the bank sorry owed on your money and we're thinking about trying to flip that money to even more since becoming worthless and the way we're gonna do that is by creating a new currency that only we own and make you use it and you're gonna do it cuz you don't know any better are you scared yeah pretty much so yeah let's reverse here that was a pretty telling reading but yeah 40 bags are thinking about known as people again two years ago crypto was just becoming real to a lot of people and we don't even have clear regulatory oversight on it the only clear regulatory oversight I've seen is that if you're a mom-and-pop ER IE you're not already wealthy you are not allowed to get wealthy office this is bad but if you don't have money that's why you're protecting right this for your protection are you poor people but if you already have money well come on down yeah we come on down to the front row we got a prize for you in the form of a central bank digital currency of a stable coin of an exchange of an sto but all you poor folk out there you stay away from this is that doesn't do what you meant by grayscale because Susie again this is that base hit people as much as you always talk about Zen one of the pushback against crypto now you're gonna have 40 central bank's doing digital currencies people are going to wake up in this by the way I thought you guys said this is bad I was gonna cook it and then as I well not really it's kind of it's actually really good we didn't want you to do it just like proficient right I love it billionaire Brock Pierce takes out first-ever Bitcoin back mortgage you know Brock that is right was a long way from yeah I was gonna say the Mighty Ducks but what else what else have we seen oh here's first kid I never wanted to be the kid up so much I try to my hate acted with a simbad if you remember that movie maybe showing my age here but it was your back was sitting on top of the world Phil Hartman was still alive like that was a funny movie I'm sad it went away but he was you know a little bratty kid he was a president son or whatever but uh yeah it's a long time coming for Brock Pierce actually got to meet him at a world crypto con last year all we did the poker jets a great guy you know and he got in really early and started a venture capital firm which is how he was able to afford just a 1.2 million dollar house in Amsterdam so great to see uh you know from a industry standpoint people have been talking about buying houses with Bitcoin and we've seen people actually help football for sale however using as collateral meaning he didn't actually pay for it a Bitcoin but he put it up as collateral was saying if I don't pay this certain amount well if I don't you know actually pay it back then you know if you take my crypto but this is you know a bigger in the Y scale of things sort of like maker doubt is coming out some of these other projects where you could stake your coins in order to get real-life goods and not have to spend that crypto if you pay it back this is you know great for him in a good example to follow again this is huge and we've talked about collateral you're working on black chain now we're just gonna do loans you know to people and some of those possibly lower income places or places where you just can't get along yeah but this is gonna be huge in crypto I mean again the entire mortgage you know we talked before you have bad credit you're working with a debt company or something like that again if you switch your whole operation over to crypto they don't have any power over you yeah um this is that Fight Club scenario everybody's seen before where they you know they blow up – I got much buildings they worry buddy erase everyone's debt I mean this is it it's an entire new system where just say you know what look I get my credit score get my debt I got this house I can sign a smart contract and if whatever falls through something doesn't happen you can get this house back or pay for in cryptocurrency and I know kind of like the fact how the articles try to say is he a financial trouble or does he need help something must whatever or like yeah he's not a die-hard Bitcoin holder bitcoins use case is different for everybody yeah the best part about you can be older than your trader you can be somebody for payment he obviously wanted to use it as collateral because honestly those people who got in early or you know even now if you sort of get in a good time could buy a lot that collateral that you use towards something doesn't it doesn't spend your actual cryptocurrency you can still get it back just got paid so right stead of using the collateral of your car you know something else your job would not then but you can use crypto now and if you made you know millions hundreds of millions of dollars in the crypto sphere like broth Chris may probably have then why not you know go out and spin some that hard on Krypton some this funny money out here you can spend it you can that's what it really is you know it's cheaper yeah it's like listen it's cheaper you go out look you spend that green paper money Matt's worthless these days you go out you blow it out on a new boat yeah car I don't know what he got but you want to hold on that good curveball right that stuff don't get old oh yeah absolutely I don't even obviously the the interest rates is what interests people this there is equal don't pull smart people who coming to crypto don't know what you're talking about I don't like so so what's your goal you want to save money cool you can do it this way and they're like well no it's not ready yet well now it is you got an eight or nine percent rate or his interest and if you have a mortgage that's way lower than some people they get fifteen and eighteen percent twenty seven percent APR is ridiculous so right now eight or nine percent or maybe even lower because of competition that is a very real possibility in the future so bright wait incident even like ministry of that percent you're talking about things are gonna be less than one percent which would be the norm because you can literally have that same rate across the planet yeah that would be huge I was going on Richard to wean air when I T so we're both president of classes right it was gonna Eric Brooks Maximilian process a dope name Maximilian let's see fresh an Allen said Project Mayhem comment that is right there Joe Andre dirt and how hilarious name perfectly of course the dirt it will pop over I project me okay so right on time is going on what's going on Malik Michael Williams hello hello alright we're talking about a lot of big numbers in crypto and here's another one Canada sees this one for million dollar Bitcoin holdings our reporter Lee largest-ever forfeiture Wow Toronto judge has ruled an online drug dealer must pay his entire 1.4 million dollar Bitcoin holdings to the state and what is reportedly Canada's largest ever forfeiture local daily news outlet The Star reported a third here you see is judged by the basis saying we've got big story to son yeah basically in this case kind of sucks because you know first one through the door I'd get shot so people that were sort of innovative by using the dark whale even if it was for drugs or whatever they were using it for that was a very small percentage of people so when stories like this come out you know it kind of puts a damper on you know how Bitcoin is perceived however this is very very small percentage and every time we see a story like this is basically their fault he left the Bitcoin only has digital wallet on his computer he didn't have any hardware wallets he didn't have any external ways to move it and you know he tried to argue and say that it wasn't all for legal activities some of it was for trading gold alright man good luck with that but security people why wouldn't I mean if somebody decides to confiscate your cryptocurrency they should be they should have to go on a wild-goose but the front I mean they shouldn't tie you to a chair yeah they wanted to yeah it's gotta be one or two because if they could just you know your computer and then that's all of it I mean I would never store 281 bitcoins just on my laptop right like there's five euros we can order new games of iPads let them go on your laptop oh you got Amazon going crazy it was a good coin game right start clicking button so ya wouldn't want to do that it's a personal invite to dinner from Jeff Bezos all of a sudden but here's the interesting thing about the story and this is I actually have it over here this has to do a lot about with the book I told you all yesterday which I'll talk about in detail game but the thing is the treasure story is at least on the coin Telegraph one they're saying illegal narcotics right I don't know those are later legal narcotics were actually you know cocaine ecstasy no some of these hardcore drugs and marijuana heroin not saying it you know course cannabis is I'm not sure we're talking about drugs like that or are they talking about cancer medication that whatever reason cost a lot in one area and this person is shipping them there a cheaper price yeah because the book out sum up that's what the person near them they're selling which happens on a dark web you know there's a big prescription market yeah people sell prescription pharmaceuticals so when you're talking like that again that's that's why I said might just be government extortion because if it comes out that these are legal narcotics are only illegal because even have a fifty thousand dollar license to sell them then I don't agree with them all of a sudden getting his entire one point four million dollar Holdings to the state and again it's one of those crazy things where I'm just gonna go ahead and assume that maybe it was a dark illegal it's kind of drugs and other heroin so because why else would he just give over his 1.4 million yeah and that's unless he made a lot more and then he was like and that was the laptop why is that oh no that's their eye god no don't gonna be rolling crazy that he's is alright whatever I could be free and then meanwhile he's watching us laughing like guys not many uh perfect paper wallets and whatever I got you know yeah but there we go that I do think that's important for us to mention that illegal narcotics part because uh again that's big on the dark with and they're only illegal depending on what state or a country in and the pharmaceutical all surrounded that I mean is literally this is you know a bunch of guys in suits who said you can't ship these but we can yeah you can't have heroin but right if you put it in pill form and reduce the doses a little bit so Lina would have so good yeah so it's definitely one of those those cases where all the facts aren't there but they had to make an arrest and it is Canada so you know they've been scrutinized but not being tough on it so right they have to do something you know like we say a first one through the door get shot so this is the first one went so far and you know we'll see what what happens from there Matthew fan hilarious so this is the book I can't remember who told me was a good read I did read though and for all of those who are really into crypto crypto enthusiasts technology economics know that as you can see this books are pretty good one it's a novel about technology economics to death in the age of surveillance state what price freedom when government knows all our secrets basically the reason why I like this book it's supposed to be a fiction book however as you were reading borders closely a nonfiction they talk about the government being able to put spy programs and all the Microsoft iOS devices how people use Linux systems but I like it because even if you really don't have a firm grasp on some of the technical stuff that goes on and cryptocurrency and all this it actually does a really good job of describing some of that type and some of the technicalities and technology that is coming out and layman terms and the reason why is because as you read is somebody off the street who basically jump to dark wit start doing illegal stuff I think I was like a prostitute on the street she and the proponent dark web and selling prescription medicine basically using a dark with but they they tell everybody you know step-by-step you know how this stuff works how this is even possible and they even give you like a background like with proxy servers our routers and VPNs they talk about all this language and even at the very backs which I love the most in the appendix they have about ten or fifteen other books and websites you can visit to learn more about these type of technology are coming out whether it's about you know fake money or the government's fire programs all the way to them actually mentioning Bitcoin they have Bitcoin down or going there for you to go check out in this in the book they don't talk about crypto they only talk about gold but believe me they like loosely based around crypto so but yeah in the back of this book they give you a lot of resources to technology again proxy servers VPNs other books you can read so there's definitely a good read it's the fast read to things like 300 some pages but it's a pretty fun read just fun book I usually don't read books aren't like bits oriented which is probably why Cameron would tell me read it it's really good so worth checking out bit Mex to compensate users affected by unforeseen auto be leveraging after Bitcoin Bull Run unforeseen right yeah we know it's very freezing freezing more money right I'm not playing this crypto currency trading platform bit Mex will refund users who lost money during this week's Bitcoin bull run after tech problems affected is contracts the company confirmed in the press release of data April third would happen here with Big Macs oh yeah well first things first Bull Run is over a certain period of time that was a bullish candle so Apple was because the price surged so fast thousand dollars in basically 30 minutes or hour what happens is the orders that were there already stack as far as for stop-loss or for selling or buying they D leverage some people based on their positions meaning they lowered the amount of margin they could have on their account which effectively got some people wrecked got all their money you know wiped out even though they didn't make a mistake they could actually have been in the correct position to make money off of it however because of their trading engine which always seems to mess up whatever the volume comes back they obviously had a big problem because on Twitter I saw a lot of people that were having problems that you know we're saying what's going on bit mix this always happens blahblah been around long enough to see this a few times but they said they are compensating everybody which is good news simply because they could just say hey whatever egg machines messed up yeah that's what I'm saying like quick listening off the haze actually is you know trying to push everything forward with his you know contracts whatnot always his website so his business is the most profitable there is outside of venture capitalist so he's gotta you know make sure that the clients are compensated and this is much like coinbase where people are like why not see a big new supplier to see exactly but the important people actually hit them up because there's only 200 complaints so that just goes to show you that's 204 people just like coin basis I don't really see it on 84 it only takes a couple hundred very important people to say hey we should let this whole thing down I'm gonna say when you start talking about percentage of your business which some of these people I'm sure represent some of these bigger contracts where hey this we're talking about you know a couple mil here or you know there can be a quarter room you know something like that is like no you're about to do something or that's a my money having my bank account I'm going to use I'm lawyer like that's usually how it goes these situations and again it's good on Big Macs part not only for doing this but being proactive and releasing this information because as you mentioned like my bases don't do it bit tracks again people we have experience there Robbie blye so there's a lot of companies out there that would not go back and do it again bit Mex I think is one of the better ones even Jim and I even though there's no regulated to the point of just being ridiculous I think they'll also step up to the plate to say hey here's you here's your money back whatever I keep taking offers right got to keep it good and uh – as well I think those are you know three the main ones uploads pretty good – actually oh yeah wait under the ring they are really good – if you're having mistakes where ever you reach out to down they'll know they'll check your history and all that good stuff LIR it's somebody we want to keep you you can stay in the club night like we got you okay so there's some good ones out there but this is self regulation people yeah when we talk about self this is self regulation is Annie for lawyers is need for regulators from government is just the company saying all right we saw what happened it was crazy you know even Spitz heem person born we have a citizen year right yeah contracts messed up on our platform well fixes why because we're worth billions we'll be in business I don't get why a lot of exchanges don't just take that businesses in general why don't they take that approach I mean they always like because everybody will be broke everyone's not gonna do it maybe realistically everyone's not gonna do it think that um so they'll like coinbase and uh you know and again mission people I bit tricks they are work literally multi-million billions this makes sense I'm glad to see it done author Hayes great job on regulating ourselves other net for the free cryptic coin what are we doing today oh yeah so for the free cryptic coin today how do you feel about Bitcoin back mortgages would you buy a house with Bitcoin back collateral or would you hold it some people have that argument let us know what you think put your cryptic coin address and we'll send those three points to be meeting with Jamie Dimon look look I don't have any go or you know cash but I do have this this cryptocurrency no Jamie's in place of JPM coins a beautiful I get it home I'm gonna give him a bunch of ripples are you guys I've ripple right yeah I don't know right you let now give me that Bitcoin give me that good stuff good stuff I'll actually get some comments down there anyway uh last things the last couple Clarence Dennison I remember I said fifty three hundred and thirty two hours and it got hit now is probably gonna be 60 100 by Friday at the know hey Clarence listen that is a bold prediction I don't know I think we saw the best this week let's see Elwin ID said I heard of it haven't done my research on the author yet all these pretty good yeah oh yeah I was like off a duo duo authenticate it they're all two-factor authentication that you can use it's just whichever one you want to choose based on the price you pay audience free so it has a few few good ones out there right yeah I would also say uh if you have a lot of counts and stuff don't you know don't be afraid to use multiple ones because a hacker when they are going if they do get this far which allow them at the to you know to back identification stage sometimes I would ever go find somebody else but they get that far they're gonna guess all the Google Authenticator I'll be back in their hand like those only main two so divvy those up and again as we said duo is good as well all right other than that that is our show today as Edwin IT said that was a quick thirty minutes we know it but we don't make sure we get this information in and get here by on their way but we will see you all tomorrow oh yeah quick make sure you update your cryptic coin wallet so here it is so you can actually receive it next week there it is and now we'll have more information on that absolutely happy Thursday folks I would go on a bill with chairs

3 thoughts on “40 Banks Creating Crypto | Bitcoin Back Mortgage”

  1. I'm all for using Bitcoin to back mortgages. There is a lot of promise with this idea. You could include smart contracts that would be specific to each mortgage agreement/arrangement to include provisions that say, for example, once BTC rises higher to a certain threshold limit, move any remaining gains from the BTC rises over to, say, an escrow account or something. There are so many possibilities but I am 100% on board for allowing mortgages to be backed by Bitcoin. May even be a better choice to use 50% of the mortgage backed crypto as one of the more stable coins. My LA token CRYPTIC (CRYP) coin public address is – c1Zn7XvWByBUVzoCxjMn2zc3nmXNHNwDJCL

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