Another Ripple Killer, Quadringa missing funds, Garlinghouse blasts JPM, Facebook Privacy

[Music] alright it looks like we are live let me double check let let this kick in a little bit I’ve tried a new setting on OBS ever since I yesterday i was testing out the live stream downloaded the new version and now i’ve got to I’m trying to use the low latency see if that has any impact at all on on exactly how we have how the chat streams and and everything else so if people I got to pull this up on my other laptop and see what’s going on to make sure everything is blowing the way I anticipated it we got here all right like an ad let me give this one minute as it boots up you got a couple people in joining in already ferdy’s in hey Freddie how you doing oh let me mute this over here perfect awesome we’ve got that boo boo from from Germany over in Germany today doing well Freddie Thanks how you doing how’s everything going today it’s been a beautiful morning already I always try to get out before the Sun comes up and just a great day today another haha another that I write rip XRP killer or die right ripple killer that’s what we’re going to we’re gonna go over that ripple killer it seems like there’s always so many times on the news different things come up and and and I Anna I was reading about something else and everyone always wants to you know put in a little bit of the the clickbait title and always you know trying to be the the next you know big thing but that’s what we’re gonna talk a little bit about that today here just give it a few minutes birdy you’re over in the Netherlands nice rain over here it’s about seventy degrees a little bit of cloud in the sky it’s really nice out sout been out for a couple hours already running around there you got to love the JPM coin let me adjust my dog kind of moved see if that’s alright my dog walked by my camera and knocked into the tripod so moving it around hey awesome alright so yesterday I ended up doing a livestream as well testing out the the stream had a really good conversation last night really hadn’t anticipated actually getting into a full-on stream but turned out turned out really well actually let me let me transition this over see how that looks which which way do you guys like it better that you like the the background image or having the live chat up this background image this other one over here that’s over in in Iceland um if you’ve been to the to the black beach area in Iceland awesome really nice area that’s where the the the plane is I’m not too far from you know it depends on the season you go but huh seems to always be relatively chilly over there all right transition back over here there we go all right let me pull up my notes and and we’ll get started so a few things really to look into and and it’s interesting because it always seems like so that’s a can you hide between the chat you like the ah let me see which one that one they go into the eye doctor a or B let me say let me go back alright so so in the news it’s interesting you know we we are always looking into you know movements in the space and so what would I and if we go through the theme of what I kind of want to cover on the livestreams I’ve broken it down into four categories we’ve got kind of general news XRP ripple related news legislative news and then something to do with the real world use case so you know so what I was so what I wanted to start with today and I don’t know if you guys have looked into what’s happening lately with quadriga the the once largest exchange over in Canada but that news seems to keep on developing so obviously the the missing funds are still missing they ended up one of the agencies ended up hacking into cotton the owners laptop it took didn’t take that long apparently but you know they were able to hack into it and what they discovered was all of the wallets were actually empty and so not only were the wallets emptied if you guys read the article but they’ve been emptied for eight months already and it looks like there was about eight million dollars that had been transferred and when we talked about this on a previous video really the highlight of this was that it’s difficult to trust to trust your holdings your digital asset Holdings to an exchange and again this was one of the largest in Canada initially it was looked at as you know the the one holder of the keys dies and so the I still think now based on investigation if you look at all the different multitude of articles that are coming out on this it is there’s a higher probability chance unless they have actually come up with and present his body the head you know the area in India that he had gone to has is notorious for helping to fake deaths in that area and falsifying documentation so the question then could still be whether or not this individual is still alive or not and so I think that’s interesting but it really highlights the need for making sure that each one of us is really in control of our digital asset or as we talked about when it comes to even some of the lending apps it would be the same thing with some of these exchanges and and really making sure that if we’re keeping our digital assets like you would keep your money in a bank or if you’re keeping a stock and at a brokerage you want to make sure that it’s secure with some sort of coverage of FDIC in the US there’s some coverage in Europe as well and so that that’s a really important fact and so again whether whether it’s a quadriga or a coin base or a bitstamp or wherever we’re keeping our digital assets there is there are some platforms out there where you could feel a little bit more secure like for instance a coin base overall I don’t see it going away anytime soon however let’s say something negative did happen and it did go away what’s going to happen to your digital asset same thing with a buy Nance Finance being one of the largest exchanges in the world something could always happen so I think we have to be very observant to what’s happening at the same time I think we’re starting to see some really momentum and movement in the space right now and I brought up the f8 EF there was the meeting of the 35 countries then there’s a push to adhere specific regulation to the exchanges as are on the banks in the world and so I think you know that that’s really important you know to identify and some of the other things that I’ve talked about that really have to do with with the exchanges with the banks is really the blending so we’re starting to see a blend or we’re starting to see a merging of you know a blurring of the lines so to speak of the exchange to the banks and in fact there was an article that came out over the past couple days someone made the statement that you know Starbucks in in a couple years is going to look at you funny if you go in and you try to use fiat currency it over over in India they’ve had a an initiative to get rid of all fiat currency they and this goes back over the past year they pulled out about 70 75 % of all fiat currency out of circulation moving to really just a digital form of currency not to say they’re embracing digital assets but really digitizing and so same thing over in China for years it’s it’s more and more common Iceland when you’re traveling over in Iceland you can use your credit card for everything anywhere which was really surprising because a lot of places when you’re in Europe they don’t necessarily accept all credit cards but now it’s so easy to accept you know all forms of credit cards right with a with a mobile phone you know so I think that’s that’s really interesting but what that really means for for us in this space when we’re discussing digital asset in particular its simplifying the process overall to then begin to have the ability to directly spend the digital assets and so the world seems to be really preparing for a digital currency obviously when we focus in on let’s say XRP or we focus in on some of the others we want to know the use case for that individual digital asset we also want to know you know how easy it’s going to be when the time comes for us to actually use it and spend it and it just seems like that transition is really happening at a you know faster and faster pace so what does Ferdie say you don’t move to a hard wallet make regular screenshots of your exchange that’s it that’s a good point you know at least at least you have something you know that you can show some proof of that obviously at this point it’s best to move to a hard wallet and actually I don’t know I didn’t I didn’t pull that article up let me pull this up on my phone I think this was really interesting hang on a second let me find this here we go so this was Twitter CEO Jack Dorsey had a tweet with what’s today I must say this article came out today so it was March 9th and the article is on CCN but I thought this was interesting because he really revealed that he owns a toss but he’s also buying Bitcoin on a regular basis so and he’s using the square cash app to do so the square cash app puts a max amount of $10,000 per week apparently so he is you know transferring $10,000 per week over to his Tasos in Bitcoin that’s per his statement the reason why I bring this up because we’re specifically discussing the hard wallet and you know he highlighted the reason why he likes to use the Tasos however he also said that he likes the ledger but there’s other reasons why he liked the Tasos but the point that I wanted to bring up on this is that here’s the statement from the article it says Dorsey is forecasting massive acceleration for a Bitcoin over the coming decade and despite critics is doing his part to bolster the kryptos use case as a see so this is Dorsey so from Twitter then he says he’s made it clear that sooner or later the square cash app will integrate lightening network technology which will accelerate Bitcoin transactions for everyday micro purchases so I think this is you know this is really telling you know when you see you know some of the larger movers in the in the tech industry really not only adopting a digital asset from an investment perspective but focusing on the use case and that to me is is all telling in terms of you know where we’re going in this space right now so hey Ranger how you doing all right so let’s up let’s go down here now move forward so one of the other things that I wanted to go over is an announcement I don’t know an announcement but not really announcement but really a statement coming out of Mark Zuckerberg from Facebook faith from Facebook and really and this was an article there were a number articles on this I pulled one up from smart crypto finance calm talking about the Facebook Facebook coin but there was a quote from Mark Zuckerberg in this article that is really highlighting to the fact of what Facebook’s intentions are when it comes to looking at what they’re attempting to do from a private use case perspective so obviously we know that within Facebook there’s an issue right now with privacy but when we look at the whatsapp it’s more of a secure environment for messaging security is key there they bought whatsapp but wasn’t something developed in-house however what I think is important here also in this statement is that they’re they’re discussing payment at commerce and so the question then is you know is Facebook focusing in on developing a digital asset and if they are is there are there is their focus on developing a digital asset privacy token and so that I think is interesting and there’s a number of articles on that space there’s been a lot of hints people alluding to the fact that Facebook is really thinking about developing a digital asset they’re spending money on it they’ve they’ve hired people for that perspective and are you watching you I agree you know there’s privacy is a as a as a limited commodity at this point anything that we do online we’ve definitely limited ourselves to our own individual privacy until we go off the grid and we shut everything down and even then you know I’m not sure if we’re completely if there’s a hundred percent privacy you know I guess it’s something that we have to live with within this you know tech space but this so here’s here’s this quote they came from from Mark Zuckerberg that was in this article we plan to build this the way we’ve developed whatsapp so I think that so that that’s kind of telling you know with whatsapp being more private focus focus on the most fundamental and private use case messaging make it as secure as possible and and this is interesting coming out of them maybe you know they’re also trying to save face for some of the issues that they’ve been up against and then build more ways for people to interact on top of that so you know there’s so many ways for us to interact right now using whatsapp as a nice medium instead of using just a standard text messaging I you know it’s funny yesterday I was having a conversation with a friend of mine over in Venezuela he was telling me about all the issues that are going on over there right now and and he lives in in in the US but he’s over there for family reasons and he and they’re having the rolling blackouts but as we’re talking we were switching back and forth between texting and what’s that because of the rolling blackouts that they were having over there that was causing outages and the Wi-Fi and outages in in some of the service but anyhow so let’s see and then bill more ways for people to interact on top of that including calls video chats group stories businesses payments commerce and that’s really what what stuck out here you know is they’re they’re they’re really attempting to get into this space for payment and commerce on alt emolia platform from many other kinds of private services so it looks like you know their focus at that point within Facebook is to drive in the direction of secure private exchange whether they can pull it off or not yo that’s going to be another question but that’s but that’s really the at the Phasis you know that that seems to be the direction that they’re telling everybody they’re going and if we if we use a whatsapp as that is that initial starting point it’s it’s interesting now the point here also if we if we you know take it to the to the next level is really to look at when you have a Facebook which is already interacting you know with millions upon millions of people and whatsapp as also an international connect connection to people all over the world it’s interesting when if you then are able to tie in modes of payment payments and commerce through all of these lines and Facebook is in a position where they’re connecting all of these pieces you know so who knows again you know it’s Facebook gonna pull it off y’all are they gonna end up being fragmented is somebody else able to move into that similar space we saw what kik was trying to do why the kik app out of Canada and they had their kin digital asset and their goal with that also was to be the first to utilize a digital asset within a community and if you look at kik they also have you know a lot of users and so far they haven’t you know and I haven’t followed up in in recent days but you know I’m not sure how successful overall they’ve been with that rollout with what they were doing but if you take a facebook if you tie in and the question there also is whether or not a facebook should really do it on their own you know or are they going to end up building this on another platform to me it would make more sense you know for a facebook instead of trying to reinvent that the blockchain or the digital asset that’s going to fit into their use case into their need it would be more about building it on a platform that would already accommodate international exchange and exchange of currency so that that’s my opinion who knows what their opinion I agree yeah Facebook would be even bigger than it is today and would have a heck of a lot more control over people’s lives and so but the privacy component is so critical and I think that’s where they’re getting you know taking the biggest hit is over the fact that there’s a lack of privacy so if we see forms of decentralized apps starting to pop up if that happens messaging apps and and others that are more focused on securing security and privacy that could be interesting now the thing is imagine you start developing and you start putting some of this stuff onto onto a blockchain platform of some form you know then then what happens because now we were concerned about our information that’s already trackable then it’s it’s pretty much locked in for forever and so you know it just you know it goes down to the to the to the smallest to the smallest component so let’s see what is a c e said starbucks put out a statement that they at least for a long while won’t be accepting Bitcoin for purchase yep but instead will be offering ways to convert Bitcoin to Fiat and then accept Fiat and and that’s definitely a possibility you know and I don’t know that especially when you have fluctuation in the currency I mean close this thing here all right especially when you have fluctuation in the value of of a currency it’s it’s hard at the it’s hard at the just like laughing at what Charles put up there yeah and I try to stay away from Facebook honestly I you know I I don’t really engage with Facebook that much every so often I’ll find something and I’ll put out a put something out there but overall I you know used to be on Facebook all the time you know and now forget about it you know just a waste of time you know so what’s up crash monkeys middle-way good to see you guys so all right let’s let’s let’s move on here let’s go down this is so this is this was the statement here and we talked a little bit about this last night also this was on and this was the ripple killer so this is you know based on the article is on aetherium World News so their statement was the ripple Killer 60 Japanese banks create a digital payment platform you know so again clickbait on the ripple killer because obviously they want to draw attention to people reading the article I read the article pump guilty no but anyhow so this is a conglomerate of well conglomerate I guess they’re turning into but the banks are 60 banks in Japan coming together creating their let’s call it’s called the J coin and they’re going to facilitate the interbank transactions within these sixty banks now is that important I think it is you know we talked about this a little bit last night I definitely think it’s important to see additional modes or additional it’s not really a company but in this case you know they’re creating a method to move currency and and really work between the banks in a more seamless fashion you know so I think it’s important to see these quote-unquote competitors to a ripple solution I think for you know we talked about this last night again but for 40 years you know 40 plus years Swift has really monopolized the space Ripple opened the door to these tech companies realizing or to the bank’s to realize that you can use ma you know newer technology that is going to provide a more seamless more transparent and much less expensive method to move to move money’s between banks now in Japan if you have sixty Japanese banks they’re moving between themselves it kind of makes sense for them to have a solution to do that now could they use ripple net to move between the banks I’m sure they all could however it to me also it doesn’t really reflect negatively on the fact that they’re creating a quote/unquote competitor to rip or to the rippln net solution but what it does highlight just like with the JPM coin what it highlights is that you still need a bridge currency to then transact so you have these sixty banks working together and maybe these sixty banks work together on a regular basis and they discover that they could find a easier way for them to work together hey that’s awesome but those sixty banks they still need to send their money they need you know they’re gonna have to move it to the US they’re gonna have to move it to whatever country in order to do that they’re still going to need a cross-border payment solution and so they can move easily within themselves they still need the bridge currency to move outside of and that to me also it validates the need for a ripple net solution it’s not a ripple killer it’s actually supplementary to ripple in it further validates than need for this technology but doesn’t just validate the need but it validates the fact that this technology is the right technology for the banking industry you know so so that that is a very important fact to focus in on let me let me look here see yeah that would be middle way that would be awesome if they if Nasdaq uses XRP for 6f for its exchange those 60 banks will use it and that that’s what I’m thinking too I mean you know is it a hundred percent of a guarantee that they’re going to use XRP no but what we do see is that SBI is using the ripple net M mu F G is going to be using ripple net they’re going to roll out X rapid and when they roll out X rapid the other banks in Japan again when they’re going to want to move their funds they’re gonna need to use a proper bridge currency so all right let’s move on through here and and this goes down into since we’re focused here on on XRP and ripple there was a interview and this was at the DC blockchain conference and they interviewed a brad Garlin house and and i pulled a couple quotes out of this this was on smart crypto finance comm also I thought this was interesting because of his statements regarding JPM and you know there’s so much talk before about JPM being the the ripple killer also you know and that JP Morgan has come up with the right solution internally but I thought this was interesting so let me see here okay so here’s here’s the quote that I pulled out and this was from that article but they quoted Brad Garlin house on this and he says this guy from Morgan Stanley was interviewing me last week and I asked him so is Morgan Stanley going to use the JPM coin probably not will city use it well PNC use it and the answer is no you know so I thought that so that is exactly what we had talked about before as well that each of these competitors to JP Morgan are not going to use the JPM coin and so if people think that they will then they’re they’re a little bit insane you know but if he follows up here and the answer is no so we’re going to have all these different coins and we’re back to where we are there’s a lack of inter per ability you know so that’s it’s perfect so it doesn’t change anything and really it doesn’t make much sense either you know you’re using GA p.m. why not just why not just use a dollar and so that does in his next quote here which is perfect so he says let’s think about this J p.m. announced or JP Morgan announced the J p.m. coin for institutional customers if you give them a dollar as deposit they’ll give you a J p.m. coin that you can move in the j p.m. ledger wait a minute just use the dollar I really don’t understand what problem does that solve you know so that is really perfect you know and so this is Brad Garlin houses response to a JP Morgan and the JPM coin and I think it’s really on point you know so is there some use case for the JPM coin I think that there is internally within JP Morgan in order to maintain the relevancy in this space JP Morgan with Jamie Dimon has spent so much time knocking Bitcoin and knocking digital assets then now they have to show that they’re relevant in the space they see what’s happening and it’s happening at a rapid pace now but again does that JPM coin simplify and help them internally maybe it does but like Brad Garlin house said you know wait a minute just use the dollar you know move your money internally using the dollar why would you want to convert it over does that really make any sense it’s not even solving a problem so why would you do that it doesn’t make sense and that’s and that’s exactly it you know so all right now on on this note we have a oh and second here yep and so I’m just looking at the the messaging here now it looks like I’m getting a little blur a little bit of a a little bit of pixelation on the image I don’t know if you guys is the audio coming through okay um is it just the pixelation of the image you gotta check let me see the speed of the internet here I don’t why the signal says medium but it’s good all right cool all right I won’t worry about my pixelated image then so yeah so what see saying yeah all proof of concept yep just have relevance and that’s really it you know does the SBI delay have a huge problem I don’t think so either I believe that you know there’s a lot of things that they need to do to get to get everything in order to do it properly and so if they felt that they weren’t really in line to do things the way it needs to be done then they need to they need to hold off you know they can’t just jump into it because that’s what the public is is screaming about you know they have to do what’s good for them and they only and they’re the only ones who understand what’s happening on their end behind the scenes so we have to take that at face value of that if they said hey you know what we wanted to roll it out now but you know now is not the right time we have to wait a few months so they have to wait a few months you know it’s not it’s not a big deal when projects do get you know pushed back you know we don’t know exactly and they’re not really telling us you know exactly why they they’re thinking of delaying and they might push it up you know who knows you know so let’s take him at face value there oh that in that that’s you know yeah it that’s a good question I’m looking at what middle way is saying wonder if JPM coin will allow fractional reserving I don’t know what they’re you know so far they really haven’t made any more any real announcements of what that JPM coin is really going to do you know other than they have it huh GA PM’s and amusement amusement park token Dani yeah and maybe that that that would be a good use case for it actually you know why not use it in Disney World and really maybe Disneyland Disney World will start issuing their own digital asset that you can use the area they well they’ve already had Disney dollars forever and now you you know before it was currency it you could exchange you in and get your disney dollars if you if you went there and but now everything is just no they scam you into spending huge amounts of money because they put it on some wristband I guess I haven’t been there but anyhow alright so let’s move let’s move on here mercury FX using X rapid flash FX working right now and so that was an article I pulled up here let’s see flash FX works with ripples blockchain ledger to provide efficient services for transfer of funds here’s the article here let me see on them then the next article is interesting too hang on a second this why is there always pop-ups here get out of this one second alright so this I thought was was interesting too because this is the financial company flash FX really getting into and year it is here so in general transferring money to other countries could take several days and be very expensive for customers things are changing thanks to the implementation a distributed ledger technology and companies such as ripple that are creating blockchain networks around the globe and so this was during his conversation trying to find I had that quote singled out and now I can’t find it but here during a conversation with crippled crypto tech news Michael O’Sullivan and Nicolas Tiger both founders of flash effects explained how they’re using DLT to provide efficient services for transferring customers funds so we’re seeing more and more of these cross-border payment providers using the ripples Ellucian and so it’s just a matter of time before they begin to activate ex rapid as well and and we talked about this we’ve talked about it multiple times already I probably don’t have to get into it again but you know the the reasoning behind why most of these groups will will not yet use ex rapid is mainly because of government regulatory clarity on that space especially if they’re moving funding from the US so but they are utilizing ripple so that’s it that’s important you know and we’re seeing more and more of that happening and it’s becoming commonplace so I thought that was interesting and then one other thing that I thought was important when it comes to the extra P Ripple topic is and this has to do with a lawsuit and so let me see I didn’t I didn’t pull this one out but anyhow so that this is really important you know this was financed so cz made a statement recently and his statement was specifically regarding XRP as a security and in in this article by the the CEO by Nancy Z actually was defending XRP as not being a security and and here was his statement here I think people are aware that there is a lawsuit against XRP on whether they are a security asset or not our judgment is they are not and until proven that they are we listed them and luckily we actually dragged other exchanges to list them that’s a good thing so this is by Nance he’s become a big fan of XRP or cz of finance and I think his statement here is is critical how many follows that up here saying I think that’s a very positive step towards our society that we don’t just judge so there could be some statements out there there’s obviously a case against ripple and you know they’re they’re really targeting the fact that and the case is still active and we’ll get into legislation and actually there was some movement in that case which is actually a positive thing we still haven’t seen any any SEC clarity but when you look at it on its face and as xrp venture just said you know xrb most likely won’t be classified as a security because it doesn’t meet the test you know so if you break it down and if it truly was a security and and the SEC believed it was a security then they would have acted a long time ago because this is a very high-profile company ripple with a very high profile digital asset it’s not like some small-time ICO that no one’s heard of this is one of the top three and sometimes in the in the top two and so the SEC for sure would have taken action by now if that was the case and there would have been statements it would have been something so at this point you know they’re dragging their feet to me silence means a lot you know they’re there they would be extremely vocal if they believed otherwise so the fact that they’re dragging their feet you know we can definitely read into that if for some reason the government decides to get you know some issue and but yeah I just I just don’t see it you know the only the only way would be for the the banking industry and Swift as a lobby organization to somehow you know pour millions upon millions of dollars into someone’s coffers to say hey this is what we want you to do but I don’t believe that that even even in it in Congress or you know in the House or Senate I don’t believe there’s anyone there that’s really beholden to Swift you know so if the Swift Lobby isn’t strong enough to really sway the opinions one way or the other and we’re seeing a new technology booming coinbase and ripple and many of the other bigger organizations are on Capitol Hill on a regular basis really promoting the cause of this new technologies and I think there’s enough supporters in in good position at this point to make sure that you know that it is continuously moving in the right direction let’s see just looking back through summer here let me go back up hang on second and see do you think XRP an H bar what is I’m not I’m not familiar with H bar what is H bar and thoughts on the s10 not having Bitcoin and only aetherium I you know I think that that the fact that the s10 was just launched it doesn’t have XRP either you know so I think that it’s it’s brand-new you know for Samsung to launch the s10 is a big step in the right direction providing security it would be very easy for them to provide an update to their internal eachother app to say hey you know what now we’re accepting Bitcoin now we’re accepting XRP and we’re accepting others rolling it out in on a limited basis I think is smart you know if you overdo it and then you find out that there’s an issue at least I believe with that you know they have some form of of control control mechanism to roll it out you know limited but I’m not I you know other than talking about when it was originally announced I didn’t really dig into the actual app to see how it how it functions and how you know I would like to get my hands on it and see exactly how it works so hadera hash Graf coin I’m not familiar with it honestly I’ll have to look into it that’s one I haven’t heard of that I’ll take a look so all right so let’s let’s get into let’s get into legislation because there’s a couple important things that have happened regarding government movement government legislation in the u.s. so this this is important let’s even though I put it and if in the middle of of my points here let’s focus in on this because I brought it up but the ripple case so the ripple case that we just talked about a little bit is actually staying in federal court so there’s been an ongoing lawsuit that’s been going on for a little while now and really the the whole concept of this lawsuit has to do with an individual who lost money you know buying XRP you know basically got caught you know trading a digital asset just like he could have been trading stocks and he lost money and instead of just taking their loss they decided that it’s not their fault because XRP is really a security and ripples sold the extra P as a security so ripple is liable for their loss because they decided to trade and they lost money on XRP and and that’s kind of a ridiculous point but it shows you that anything can then bring something to court um so it took an individual obviously there was an attorney out there that thought it would be a good case they rounded up a few individuals like that and then it ends up yeah and it’s so stupid it’s it’s really yeah it’s so stupid the amount of money this guy lost is so insignificant it’s ridiculous you know it’s so you know at this point so he loses a little bit attorneys pick it up they say this is an awesome case it’s high-profile you know let’s see you know what you you know where I’ll end up going and and that was kind of the initiator of this whole thing someone brings complaints now the important part of all this though is that the ripple case is staying in federal court and so this is important and so here it says an ongoing securities law suit against payment startup ripple will stay in federal court per a recent ruling the news was announced by their lawyer Jack chevensky that he tweeted out on March 1st he said the court has denied the plaintiffs motion to remand which would be and so this means the case stays in federal court a minor but meaningful victory for ripple and so that is important than this there was an article that appeared on coin Telegraph talking about this exact point so the fact that they see a victory in it that it’s staying in federal court that’s where it needs to be you don’t want to go down to the state level so that is that’s definitely at least you know the attorneys see it as a positive but overall this is a case that stemmed from an individual that lost a little bit of money because of their own you know their own emotional trade you know and so that would be like going back in time and looking at every stock trade that you made and saying oh my god you know I was listening to the news and you know the news said this was a good stock and I bought it but I obviously bought it too high because by time I bought it the price went down and then i emotionally sold and then i sold and i lost money and then the stock went back up you know but that’s the emotional rollercoaster that so many of us have fallen into that trap you know and so that and that’s really the overall incentive in the market if you look at the institutional buyers you have the institutional buyers and you have the bag holders and the media definitely fuels that and I’ve talked about this before they fuel it not just in the digital asset space but they fuel it in the stock market on a regular basis you know and so the the retail buyers many of them are emotional buyers are not buying us stock or trading stock based on technical analysis they’re buying stock and trading stock based on what they hear in the news and by Tommy here’s something on the news it’s way too late and you should never trade with emotion to begin with and even when you do trade even if you’re doing it based on technical analysis that’s not even good enough because you have to plot out your strategy in your plan and you have to know specifically what your buy end point is and you have to know specifically what your exit point is before you buy that stock so if you know those those variables then you you have a better idea that you’re gonna come out successful you know you’re not gonna be manipulated by the FOMO or the FUD that’s that spread through the media and transfers into the bag holders hands so this individual so what you know he got caught holding the bag on his own it was his own on his own volition so yeah that’s that’s really enough on that I guess that’s to me it’s it’s just a ridiculous case but there’s attorneys out there that will take ridiculous cases especially when it’s high-profile like that you know so and again if the SEC really saw cause of concern that the SEC you know would bring more cases against ripple or against XRP as being a security so that kind of goes back let’s see here all right let’s look at XRP venture I think is an important statement let’s look here says if you watch the blockchain summit regulators clearly said my advice would be to keep developing just come see us they are more than willing to work with companies not shut them down yeah that’s it you know that’s exactly right and and that’s what’s happened and that’s a that’s a great point you know because even when it comes to companies that are filing icos and they said don’t avoid us don’t try to run away don’t don’t aggravate us you know don’t attack us come and have a conversation with us and let’s walk walk through this and find this the right solution because at the end of the day even if you read the if you look at the changes in the token tax me act it specifically also states that they want to work with these individual companies you know so if they end up discovering that in some way you know the the the digital asset is to be deemed a security because a promise is made or the way it’s presented then yes you know it’s going to be deemed a security however work with them and find another solution to then relaunch your the digital asset for that individual company because as you just said you know they they want to work with the companies they don’t want to shut them down that’s in nobody’s interest unless it’s like one coin that the feds just tracked down the guys from one coin and it was a scam you know and then you have uh I was at one coin or was at another one over and I think was in Australia or wherever you know they were connecting them to two drugs and and in other things you know so those guys forget about those guys you know they’re just creating a bad name in the marketplace you know quadriga making a bad name in the marketplace you had a thirty year old guy that was in charge of you know millions upon millions of dollars for banking and he’s probably in over his head and you know whether or not he died or not is still speculation I don’t know but you know did he die of natural causes or did something else happen because now they showed that he moved eight million dollars out of those wallets months and months before he died so you know there’s so much in this space you know so why would they single out why would the feds single out an important technology company like a ripple and tried to destroy them instead of work one that I guarantee you that the the executive team at ripple is working already and having conversations with the SEC and with the the you know at the federal level for sure you know and it’s just stuff that will never be privy to you know I know that they’re meeting with with Congress you know with congressional representatives they’re building their case as well you know so and and again you know we have the token taxonomy act that hopefully will be reintroduced soon but you know that’s all all of these things are working together so all right and fidelity yeah fidelity going live that’s gonna be big this month that that’s really gonna make some you know some big some big changes yeah so alright so let’s so let’s let’s move on there really now if we get into real-world use fidelity are you watching I’m glad you brought that up you know fidelity’s initiative and so going live I think that’s going to be important you know that’s definitely a real-world use case that’s gonna make some definitely there’ll be some good development in this space regarding that and then we see two other things that actually happen here recently number one is that she wears hang on uh uh oh good I by high-low there it is so I have this city oh here we go okay so so two things happen so let me open this up here hang on a second I write try to jot down some notes and then for some reason the note that I wanted to put here isn’t here but anyhow so there’s two two things happenin in Colorado and and I think this is really important to highlight so we talked about all the things happening over in Wyoming but we see other states are really jumping on the initiative also at the city level the city of Denver they actually announced a couple days ago that they’re actually implementing a pilot program that will allow overseas voters active-duty military personnel and their eligible dependents actually vote using a blockchain based smartphone app which was done in collaboration with tusk philanthropies and votes now votes which is vo ATZ votes technology where’d I get this article this was out a coin desk so votes technology has previously been used in West Virginia where active duty military personnel used the software during the state’s primary and general elections in 2018 so this is awesome so here we see in West Virginia they use the app and it was a blockchain voting app and this is awesome you know so this I talked about this a while ago about what blockchain technology could do to maintain the integrity of voting in the US and really anywhere in the world because anything that there’s any dispute over the vote like we had recently you saw a lot of controversy going on in Florida you know over over votes and so imagine if it’s on the blockchain it’s so easy to go back and see how people voted they’re in it and it’s locked in it’s protected it can’t be changed you can’t falsify votes because if the blockchain record is tied in to the database of of individuals that are registered to vote in the state of Florida it’s so much are in the in the anywhere I’m talking about the state of Florida but really anywhere in the country anywhere in the world I think would be so important you know to implement a blockchain voting solution and so you know there’s nothing wrong with idean somebody first and foremost that’s coming in to vote which is probably the most important thing that that you can do in this country and so if you if you can vote and we want to make sure that that’s the right individual that’s voting you want to limit fraud now if you switch that over to a blockchain solution it allows people especially like they’re using it now overseas normally they’re filling out absentee ballots you get those absentee ballots able to be done by mail moving those absentee ballots from overseas is a monumental effort plus you know what percentage of them actually get lost what percentage of them never get counted of so that’s a really important you know thing that they’re working on just overall but the fact that Colorado in Denver has announced that that’s what they’re going to do is fantastic and so votes you guys can check that out check out the the technology that they’re using it’s really significant now the other thing that happened recently let me see her the other thing that happened recently in in Colorado and this I’m just looking at this article here from CCN and this was uh this was yesterday so there’s there a whole bunch of articles on this but I thought this one wasn’t you know kind of highlighted things so as of August 2nd the law is gonna kick in and take effect but the the governor in Colorado actually signed a digital token act and he signed it yesterday and so this is awesome so what the the act is and so what we’re seeing also our states at the state level they’re fighting to be relevant in this space but they’re seeing the importance of digital assets and they’re seeing the importance of the blockchain technology when it comes to their their overall economic future economic well-being for the future for those individual states you know so this is a really important step that we’ve seen Wyoming embrace it now we’re seeing Colorado it embrace it and so here what the digital token Act that they just voted in it basically exempting crypto currencies from state securities laws under certain conditions so let’s let’s just look through your pull a couple of snippets out the new legislation also exempts crypto broker dealers and sales people from state licensing requirements under limited circumstances so we’d really have to really dig in to read a little bit more about what what that really means but the point is that the government the governor signed the digital token Act into law so these are passing through more and more the governor there is very digital asset friendly which which is great jared Polis so by signing that in again it’s another state that’s really taking some initiative and now here we see a quote here so this was law lawmakers hope this will bolster Colorado’s economy by creating new jobs and luring venture capitalists developers and investors in the state so these are all states that normally don’t have exposure to high tech so there’s no real big incentive to go to Wyoming there’s no big incentive to go to Colorado unless you’re into skiing you know obviously there’s more there in Colorado than than just skiing but for the most part you know you think about it kind of as a as a resort the winter resort area and you know and hiking and skiing and that’s about it you don’t think about Colorado as being the place where high tech companies are going to go to although you know Denver has attracted you know quite a bit you know there’s a lot going on there but this is really now upping the ante as far as what one can expect from Colorado so now they’re putting themselves in a position of being not just relevant in this space but they want to put themselves in a position of being a potential leader in the space and really focus in on what it can do for their economy again if you want to just position that to and cannabis yeah exactly so I think that the cannabis side of things could have potentially been a negative for Colorado in terms of what it did overall you know to the streets but at the same time if you and this is and I’m glad you brought that up because it’s interesting that that Colorado is now going to recognize and begin to implement more and more laws regarding the acceptance of digital assets because right now the biggest issue that although those cannabis stores are are legal in Colorado they can’t they have to deal a hundred percent in cash in Fiat they can’t get credit cards that they can’t get they can’t get traditional banking so what’s interesting about all of this and I think it’s the the importance overall but so what you know if that’s the industry it’s starting with hey that’s fine but if we’re seeing that Colorado is now going to begin to become digital asset friendly that also then means that more and more people in Colorado will begin using a digital asset could then also shop in these cannabis stores as an example and use digital assets which would then also be acceptable by the state which would allow the state to also have better trackable means for taxation if that’s what they want to do but it all kind of factors in it’s all a very important step into the overall clarity in the market so here’s the statement here says let’s say you’re creating a Colorado digital token act with limitations to protect consumers will enable Colorado businesses that use crypto economic systems to obtain growth capital to help expand their businesses then he goes on and says the costs and complexities of state securities registrations can outweigh the benefits to Colorado business using crypto economic systems that seek to raise growth capital and create new decentralized Internet platforms so so this is really interesting again they want to attract these companies they want to attract more blockchain companies they want to attract more digital asset companies in so so that’s great now it says here however digital token is not exempt if it’s used for a speculative or investment purpose so which is from from the state security laws so crypto currencies are exempt from state security laws if the primary purpose of the digital token is a consumptive purpose there there you go so you can get in and you can read about it no there’s a lot here what the buyer can or cannot do but I think this is it’s definitely a move in the right direction so let me see I’m just scrolling down here that’s it you know I kind of covered a lot we’re at the top of the hour a little past the hour of nine want to try to keep these two an hour of car actually got a huh sorry I’ve got a meeting I go run to 400 10 o’clock and hold on that coffee hang on a second my dog’s got a UH chime in oh so alright hey I’m glad you guys joined in steak quiet he’s just lying over there barking glad you guys joined in joined me for it for the morning live stream really appreciate all the feedback all the comments glad you guys are taking your time to join in you know early again this is jeff with a hotter report this is the morning crypto remember on your way out the channel subscribe if you want to share with some friends get them to subscribe that would be awesome if you have any ideas topics questions whatever you want shoot me a shoot me a message you can post it in the comments throw in some comments below.also chats awesome and until next time I got some videos I’ll put out this week but I definitely look forward to seeing you guys next Saturday maybe I’ll try to squeeze in another live stream during the week but until then keep on huddling your crypto [Music] you you

4 thoughts on “Another Ripple Killer, Quadringa missing funds, Garlinghouse blasts JPM, Facebook Privacy”

  1. Facebook private coin? LMAO!!!!!! I thought you must be joking! They are the OPPOSITE of privacy! Literally. I can’t think of a company less likely to make a privacy coin. A stable coin makes a billion times more sense, but a privacy coin? Lol noooo way. Facebook is entirely tied in with governmental entities, they will never have a privacy coin and if they do create one – it will just be posing as a privacy coin but in reality they would just be supplying all of your transfers and purchases to whatever government entity asked them for it.

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