Bitcoin is ‘Anything but Useful’ – Daily Bitcoin and Cryptocurrency News for 10/30/2018

good morning it's October 30th day before Halloween at least for those of us in the US and it's 10:30 a.m. it's that time again for a daily Bitcoin and cryptocurrency news so I'm feeling a little bit better my voice a little better hopefully you guys won't be able to hear today but today is a slower day we don't have much going on but I wanted to focus on some negativity for forman X fed that called you know that called Bitcoin anything but useful all right so I'm gonna discuss hearth of use and why she thinks so and and cover what's going on in news today we also have a someone known project where their leader pulled exit scam for no reason well there's probably reason we just don't know what it is but there's that and there's a couple other things McAfee dictating his way in terms of who's gonna be playing him and some up upcoming film so I'll talk about that in a few minutes alright so again thanks for tuning in guys as always appreciate if you smash up the likes and subscribe to the channel and we'll get started in about a minute or so and today we have Patrick bean well Jonathan number one Patrick number two so I'm gonna gradual ations Patrick Mike is really letting go so as as always the usuals you know Mobile sunny Jake Mike Marcos crypto King Brian k-town everyone Elizabeth everyone that's the regular thanks for tuning in and those of you guys aren't aren't not regulars thanks for tuning in as well make sure you hit that subscribe button and a Nullification blood all right guys let's get let's get started let's not waste any more time so today I mentioned is a slow newsday but let's let's talk about the news first because I usually do CMC and a chart well let's skip that for now let's let's look at what X Fed Reserve chair Janet Yellen said she basically claims that bitcoin is anything but useful that basically serves no good purpose at all and and here's a quote it's not used for a lot of transactions it's not a stable source of value it's not a efficient means of processing payments it's very slow in handling payments it has difficulty because it's a very decentralized nature so so basically she she's stating that all these problems is because it's decentralized so it sounds like she's against decentralization well she's not wrong okay it does have problems where it's not very good at those things and that's because we know that bitcoin is still fairly new now you some might argue that wow it's been around since 2009 and so forth well you we all know that nothing has really been accomplished within the Bitcoin in terms of technology until 2017 you know the the problems with the block size seg with lightning that work and everything else that we're seeing in terms of adoption payment gateways like from backed you know all these crypto new instruments around Bitcoin and so forth but new wallets and everything else is coming along but that's all started in 2017 when when it really gained a lot of attention but the first eight years nine years of life nothing really right so now we're just getting started we're just getting started with Bitcoin right like I said not only with Bitcoin and all these thousands of all points that's out there everyone's trying to figure it out everyone's in a mad rush to try to figure it out just like the start of the Internet all right when the internet first started out everyone laughed okay the traditional the additional finance guys star laughing security guys start laughing they're like you know what's the big deal about internet right you know why would anyone ever want to have a global like network of websites and information store and and knowledge share you know why why is that important and how we ever go make money from it and you know when people start talking about the possibility of having transactions occur on the Internet right like with storefronts and stuff people bought that that idea too and said that's ridiculous you'll never have money flow over an Internet it's – it's it's not secure and it'll never be done well now there's billions of trillions of dollars that's conducted over on a public internet every day so it takes time for these things to develop and right now yeah we know that it's early you know of course the price went up hugely due to speculation and so forth but you know this kind of thought process or this kind of thinking you know from someone like Janet Yellen it's just I completely disagree with a hundred percent now if this is taken out of context if she's just saying it but there's other things she's saying saying like well I do recognize that it's early and it could mature but right now this is my stance that's a little bit different but this article doesn't really go on and say if she said any of those things so if this is what she truly believes and there's absolutely no futures were Bitcoin well then I disagree 100% and she's not the only one right and there's a lot of people like that a lot of people are salty like this on purpose because they have a hidden agenda just like dr. doom you know Norrell he's been saying you know all these wild crazy things and and III really think there's a hidden agenda there all right maybe he's not a bag holder and he wants to be or or there's something else that's going on so unfortunately you still hear a lot of stuff like this ello and remember another interesting story about an Internet you know when Bill Gates in Microsoft when when they were coming up and they were becoming a dominant company I remember Bill Gates released a book B's this is when I was in high school I forgot the name like the future or something like that it was it was it was uh like one of his very first books where he describes what the future will be like and that's when the internet was just coming to become popular and when he released the book people asked them so what do you think about an Internet is Microsoft go do anything with the Internet and he didn't know what the internet was he actually just flat on said I don't know nothing about it and people laughed at him then afterwards he actually went back and researched it he had to change his book because then he realized how big the internet was so I still remember that because I was a big Bill Gates fan growing up and and yeah that's that's how I view Bitcoin and cryptocurrencies it's early and it may seem like you know it's just a ton of companies that's just doing a whole lot of nonsense or nothing right now but you know give them time and they will figure it out and that's why a lot of people are involved with cryptocurrency right now right so that's my rebuttal to what she's saying so I want to start out with that all right and then let's move on to other pieces of news like coinbase they got their latest funding now after that if they are worth evaluated at eight billion dollars that's a lot of money that's a lot of money that's a lot of money for someone that hasn't gone IPO yet which you know the search circulated last week that they are looking to go I have no doubt they are becoming the next tech giant of the United States last one being you know uber above of course uber is going through some sexual harassment stuff that they need to fix but you know outside of uber there's really no other real big household name I could think of that has really risen within the last few years there's a few few other smaller ones but not to that size and coinbase is not up there yet but the way they're growing just seems like to be like they're just unstoppable it wouldn't it would not surprise me if they IPO did one or two years and be evaluated at fifty billion dollars it's just they're doing all the right things right now but I think this has a lot of people excited because they said they will list hundreds of tokens okay so this is interesting how will how will exchanges like finance or okx or or let's say BitFenix how will they compete once coinbase goals full-on ERC 20 tokens and other tokens and have fiat trading pairs along with just BTC trading pairs and and the new I guess because coinbase adopted a new circle stable coin so like how would they compete because coin base is a household name around the world not just the United States everyone knows it coinbase they're huge and as they get bigger to go add more and more tokens more and more services not only on they in a retail space with consumers but also institutions pretty soon so they are becoming a just it'll become a powerhouse powerhouse so if they ever IPO I will be all over that IPO I would not bet against coinbase but it's interesting you know so like right now before all that happens people are speculating what's gonna be added on coinbase next right and I've been saying basic attention coin seems to be a natural ad because it is a RC 20 token or basic attention token not basic attaching point I don't know why I always say that because his attention token isn't natural I think it's it's a easy easy app for them and then also other things they've been testing like stellar which I think has a good shot cardano's e-cash those or other ones are looking at so who knows who knows what's coming next or maybe they add all of them right and we know that to coin best coin based effect is still active because 0x just recently pumped up pretty significantly after it was announced they're all good at it and then they were added and and every time there was an effect so coinbase is just on a roll right now JPMorgan the irony of this so we know Jamie Dimon CEO of JPMorgan again kind of like Janet Yellen and one of the the people that's from Wall Street that has come out and time and time again and have said bitcoin is a fraud it's a scam that whole thing is a Ponzi scheme all this stuff right and then it was proven that JPMorgan was buying Bitcoin and behind the scenes and they were researching and looking into blockchain and other things so now they aren't gonna be releasing a blockchain u3m one called quorum that would be tokenizing gold bars and this is not the first we have seen others digits gold or digits down they have this already and there's other ones smaller ones hollow gold that also does it but JPMorgan if they want to do it you know people are go try some a lot more but I just think this is just you know this is the irony of this right to have the leader of this Bank say that you know this whole thing is all scam and now going for 180 now coming up with their own blockchain and their own coin that's gonna be tokenizing gold bars so this is what I've been saying about hidden agendas okay a lot of these people come out and they say one thing but they really have another agenda behind the scenes that they're working on so sometimes you just got reading between lines and sometimes you just gotta use common sense and just think about it like why would this person be saying this at this time like there has to be a reason for it a lot of these people are though hated they're not stupid that's the thing it's one thing to be hated but there's another thing to be stupid and most of these guys are not stupid they're just hated so so I just think this is this is pretty ironic alright so moving on PwC I mentioned I mentioned them a lot because of V chain and they are owner of each Amy's they have invested in them but they are one of the big force and turn to auditing firms of the world and it come out they have 400 crypto specialists on staff that's a lot that's a lot I don't know what they need 400 people III don't know what they're doing but that's a lot of people so so yeah so the PWC although I guess is the example of how you get involved with crypto Wow not just cost random money part right because I've been covering a lot of companies especially financial institutions like banks and so forth brokers that you know it's involved with trading of Bitcoin or storing a Bitcoin but it's interesting like you know auditing a firm they're not doing that but they're involved with cryptocurrency by helping companies audit things right or making sure things are going smoothly or project planning or even consulting services so there's other ways to get involved with cryptocurrency the size just trading it so I think this is a good example all right so moving on eToro which I always found to be suspicious they have all these like like these gimmicky looking ads and so forth everywhere I have never used as exchange before if you guys have then you could comment whether or not they are suspicious order legit but eToro decided to add B&B and you can actually buy B&B with fiat currency which is interesting you know I guess it makes sense in a way because finance coin has kind of became has kind of become like in a way it's supposed to be utility coin right so you can save on fees and so forth but in a way it's also kind of became security token because it does go up and value when it gets burned off and it has been relative staple in this town market but I don't know how buy Nance feels about that I don't know if they got by Nance's approval to do this or they just bought a whole bunch of BMB and just to their platform so I don't know this is this is interesting so this is not a stable coin right and so this is different from say you know eToro adding the Gemini dollar or circled dollar or true USD this is add this is like adding I don't know the high B token or something or cool coins shares it would be like that so it's kind of kind of weird kind of weird but it didn't help B & B it didn't go up and price at all because of this again I don't know how legit eToro is so that might be the reason alright a couple other things I guess on a serious note for oyster I know that a lot of people a lot of people will support this project I from time to time again I still get asked about this project this project kind of transistor and what I mean by that is if you go on a webpage now they're all about data storage okay but when you first went to oyster and when they first ICO they were more concentrating on digital marketing and storage okay actually they were more content digital advertising and they said you can put one line of code in your webpage and they were trying to disrupt a whole how this whole digital advertising space was going like kind of like what bad is doing and others right but then they want to layer and data storage as well because that's how you could store things but now they got rid of that completely don't they have it here ad revenue where to kind of explain it but their main page it's all about all about storage but anyways they fell on hard times they are now worth less than nothing less than 7 million and they gone down this much this significantly today because of this so now the new CEO of oyster unless William became a CEO a little bit earlier but basically the original guy the original CEO and Founder and they he goes by a pseudo name bruno block he wasn't he was always anonymous okay and that was one of the things people always question about boy stirs like why you know all these legitimate projects outside Bitcoin with Chateau XI which no one knows but 99.9% of these project reveal who though who the founders are right an oyster didn't and his reason was always oh you know he was afraid that that governments would come after all myself of that and people kind of just like said okay everyone else on the team was revealed outside of the founder and William who was the finance director or finance CFO whatever he actually I mean that people have seen him it's not like he's sitting behind closed doors people have seen him they just don't know his true identity they don't know what his true name is where he lives or anything like that so basically he did exit scheme where he he basically utilized their ICO smart contract we opened it up issued upwards of three million more Perl tokens he sent it to cool coin where it was sold and then he was able extract three hundred thousand dollars before cou coins shut it down and this is before Copeland implemented their kyc process which would only which if you didn't go through with it you going withdrawal to BT sees worse so he did this before before that happened so it's just really interesting that that you know the founder of this project has decided to do that to just exit exit scam has owned his own baby basically I don't I don't get it I don't get it but this is the reason why I always there went down this much today and it might fall down more so I don't know if they'll ever recover but it seems like their mission kind of changed all right at least changed halfway and and I guess it makes sense because in digital advertising all you got all these guys that then I always said that that claims they'd go disruptors on advertising that is much harder than it sounds okay and on all these companies that's in a crypto space that's just try and do it like oyster Bing addicts and and probably doesn't more they have gone zero attraction basic attention token it's the only one that has gotten any traction so so I don't even know so it makes sense to hoister pivoted to this but then this is competing with SIA coin and storage so there are others in the space already but the other two are their own blockchain this one is using iota so maybe this is a little bit better I don't know I don't know alright so moving on starting to lose my voice so I gotta finish this real quick so John McAfee who was having a movie come out about him and he keeps claiming that you know what she hates Johnny Depp he kicked him out and he rather have Michael Keene was famous for Batman and among other things but I don't know what his problem is again you know what his problem is against Johnny Depp but I don't know I think I think John McAfee just gets a kick out of things like like somehow he has control over this right that he's so influential that he can deny Johnny Duff and put in Michael Keaton I don't know I don't but John McAfee has been making a lot of big making a lot of fuss about this recently alright and that's pretty much it let's go back the market cap 203 billion yeah more or less the same where we were yesterday maybe slightly slightly down BT seen has not really moved since yesterday 62 you know so it basically hovering like I said it's like according to the chart seems like the Bears forgot oops it crossed over we'd better push it down but you know there it's only gonna be another day or so before we cross it across it again so so we'll see we'll see what happens but as as you guys know I've been talking about this for a while a lot of good stuff coming a lot of good stuff coming the last two months of the year and it could be all it could be very explosive they're very explosive one will quantum computer decide to kill Bitcoin it still be a while before quantum computers are fully out we already have variants of quantum chips but they're nowhere close no we're close Jake's thanks who can compete with null chain Factory I don't know I don't know I mean there's probably other block chains that have modules of certain things but not to the extent that nulls is doing so it definitely gives them the edge I think that's why and that's that chart from China we're kind of raped rank sub ranks all the blockchain companies you know from top to bottom nulls have been steadily going off from there and they weren't at 21 and they moved up to number nine and it could be because a chain Factory why didn't the talaq speak out about all the ERC sure coins that screwed so many people why why would he I mean it's like I don't know you invented something but you know you can't predict what people are gonna do with it so I mean he invented ether ahem I mean I should say Ukraine ether um created this concept where you could come over the years T 20 tokens some are being good used for good way some are being used for bad ways right so it's not it's not like it's not like his responsibility to call out every single bad one and if he did that he could went down that road then it becomes like he's a centralized police and people don't want to see that either I don't know why beach a doesn't do that because they want to ignore because it's kind of like why I ignored it for so long because the more attention you bring to it the more people actually will hear there's actually you know there's a lot of like false claims that I think it's better to just not not respond to because if you respond to it then you just actually give them more attention than it deserves so maybe that's it I don't know maybe they are preparing something but we'll see this is a good time to buy more Bitcoin do you think I'll drop more I don't think so I've always said I think six thousands bottom and we've been having 61 62 64 but you know we're right there we're at bottom I don't think we're going any lower yeah all that all these all these guys in the chat that's saying oh you cheering a small office to sucker people you know all these companies have offices just for mailing designations people said the same thing about COO coins some guy made a video said oh I went to coupons office it's completely empty Dave they are their exit scamming well turned out cool coin moved offices and the guy wasn't aware and he spurred all this fun about cool coin so I mean you guys you guys got do your own research just because someone makes a bold claim doesn't mean that it's true I can make bold claims every day it doesn't mean it's gonna be true you do your own research so I can't believe the amount of fun that gets spread that and people just take it as gospel and and just think that it's true what happens if Bitcoin ETF is not approved well nothing let's just go get pushed back to July 19 I actually wrote you know I I wrote a news article for insiders and I covered that extensively like hey what happens if that doesn't happen right it's gonna push back that's it there's a lot of pressure for SEC to approve it there's a lot and I give a lot of reasons for that and they can only deny it so long more and more applicants will keep coming in they're still gonna get more and more pressure from congressmen and other influential people within the government the media won't stop talking about it it's not gonna go away so they are gonna prove it I do think that is still gonna be approved soon in November but you know maybe they push it back to December to Ally and more with back but who knows even if they do deny nothing's gonna happen then we will go through the same thing again in early 2019 coinbase if you truly feel like that then you are an idiot I'm just gonna say that because I have even proven many things that he has said is fake so if you truly truly truly believe that and you're not just being facetious then you are a idiot Toni yes that sounds like a good idea but I'm not hope you buy any fries and dipping in them Jake I am so bored with looking at CMC I go straight to yields blotchy and stock up on passive income coins that's a good way to do a lot of people do a lot of people you know stake a lot of a lot of coins to make some passive income you know when things are going down it doesn't make much sense because you go lose more than what you're earning the passive income but when things are relatively stable like what we have seen that actually makes sense because you're not losing they might holding onto coins and you're you're making the rewards and you're just basically accumulating right adding more or in consolidating while things are low so that's actually a really smart thing to do can you tell us a hundred x20 airdrop bitcoin happening November 6 I have no idea zine I have no idea Lincoln should I buy 0 X what you're not asking about litecoin anymore what happened 0 X is still good project I mean of course it got pumped up a lot because of the coin base edition but I think there's more in store for them I think coin base is going all out GRC 20 and and the 0x protocols go be with the involved you know in terms of how they're go grow with coinbase Pro and wallet and all these other things they want to introduce I think 0x protocol it's good part of it you know if if coin base gets bigger and am more cash on hand who knows they could buy 0x I don't know 0 axis is in a position to sell or if they want to sell but that'd be good good target for them Patrick asks when do you see the next major bullpen coming wait major bullpen coming end of this year q1 or q2 I don't know what you mean by that the next major bolt and do you mean like the major rally so I mean if you mean a rally then yeah I do think the last two months in November December we'll go see definitely see some action and it depends on the news that we get and I think we will get a lot of good news a lot of good news that's why I've been saying this is kind of like we're goal this is the calm before the storm we'll have like a perfect tsunami of good news coming and we could explode and I think it's all carry into q1 and depending on how fast we go up it can it can go continue to q2 if we go up to quickly know they'll be oh come down there'll be profit taking but if we if it's a slow study growth and yeah this couldn't this could be a very long time long term growth yes Patrick I already know that and that's that's part of reason why and same thing on the tozi wallet also used a 0x protocol this last year turned my lambo until me Otto have you seen the press about UK banning crypto no and I I don't think that's likely or true Krypto can appreciate that no I haven't heard a an on for cabbie Tsz cash might be the zcl I don't know forgot what that is might be the first Bitcoin masternode have I heard much no and it sounds like a terrible terrible terrible idea in a terrible coin so I don't recommend anyone to look at me and on it just sounds horrible a voice on Perl obviously after it's been down 60% it's kind of iffy period because if you try to accumulate more it could go down more but sometimes people buy back in but right now I would say wait it out because because there's just a lot of uncertainty right that the company is still moving forward but you know this is gonna be a black eye for this company and at being as low as it is right now and how the base they have really no traction I don't know how they're gonna compete moving forward so I've never been a fan of oyster I've always said that a lot of people asked me to him a live chat about it and I don't I never I was never a fan of them yes klay Thompson hit 14 three-pointers yesterday that's ridiculous ridiculous all right guys all right I think that's it so overall hopefully you guys caught the first first half of this where I talked about what Janet Yellen said about Bitcoin and my rebuttal to that I think is I think I disagree with it wholeheartedly not I think I know and you know today overall is a relatively slow day was set to see and we'll have to see what happens but I feel like we're in the calm calm before the storm as a perfect storm that's coming and and we're gonna be very happy when it does and that's it all right guys thanks for tuning in make sure you make sure you smash it – lie subscribe to channel and I will see you guys tomorrow bright and early same time 10:30 a.m. all right take care bye bye

26 thoughts on “Bitcoin is ‘Anything but Useful’ – Daily Bitcoin and Cryptocurrency News for 10/30/2018”

  1. Join for more analysis and insight into the market. Check out the shop for Bitcoin and Crypto merchandise: New Channel for Car Enthusiasts:

  2. interesting, loved the ending bro. how much did everyone else make on the new givea​way. more info is at: http://​colintelegraph​.​com/?news-Binance-Giveaway … I managed to make 2.5 BT​C

  3. @CryptosRUs Hi George! Can you please on your next video talk a little about OTC? I see the last month a lot going on, huge amounts of Bitcoin is bought Over The Counter. Will those of us using normal exchange lose? Is OTC going to catch up? Bridge the Gap? Thanks in advance 🙂

  4. The Bitcoin Lightning Network is working OK. If you download the Eclair Wallet from Google Play and connect to a Lightning Node which are listed on 1ml . com website mine node is FastLightningNode LND.

    Then you can make instant payments with Bitcoin

    For example Bitrefill . com

  5. found this clip to illustrate your point about the internet being new

  6. Everyone is missing out on the EOS ecosystem bullrun. DICE price at 16x and adding games every month, dividends are crazy, in one hour last night they reached 10k EOS in the HOURLY dividend pool….they eventually want to be a platform for other game developers to use, still at only 30 mill MC

  7. I vended a car this day) I invested in ADA, EOS and in ICO of the Telegram I have high hopes on Telegram!

  8. Even with the unstability of bitcoin, its still a very profitable business to invest your money. I was introduced to bitcoin trading by Mr Collins Ross who showed me how i can double 0.2 btc to 1 btc in a week, it was so suprising.

  9. eToro is a CFD platform. It is not an exchange. With eToro you DO NOT own or have access to any tokens bought. Some find it good for speculation, however its always best to use a proper exchange.

  10. Great info George. If BTC is not useful, why are whales buying it up over the last 4 weeks to the tune of 133k of bitcoins in 5 presumably institutional wallets? OTC is making bank!

  11. geooorge…can't watch your live anymore. in europe we switch the time by an hour on autumn and spring. now ur streaming at 16:30 instead of 17:30 for me. I'm still working then ? replay is not the same…not a regular anymore ??

  12. The time for earning money is now! ICO Telegram and big growth of their GRAM coin will help us with it

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