BTCC Relaunch, Bitcoin Users "Losing Faith" And Crypto To Replace US Dollar

hello every body welcome back for another video hope you are doing well and that you are all having a great day to start things off BTCC one of the longest-running and once part of the three major trading platforms in China announced it is relaunching its exchange business with a plan to issue its own tokens as well the company said on Monday its new crypto exchange is now up and running with new trading pairs including a Bitcoin Bitcoin cash aetherium and the litecoin against the US dollar which is very significant as well as crypto to crypto trading options we need more fiat trading pairs and the fact that BTCC is back and they are offering even just for coins against the US dollar that is incredibly significant as part of their plan to revive its business BTCC said it is introducing a point system by which users can be rewarded with points by signing up completing ID verification and continuing trading the points according to the company's plan can be fully converted into BCC BTC sees own tokens which will be further tradable on the platform however the company has not revealed a concrete timeline for its token issuing but only said it will be launching in the next couple of months but also indicates that the points supply will have a limit but the company has not yet decided at the moment a hard cap or a ratio how the points can be transferred into its tokens in the future that seems a bit confusing they should have just left it with like a normal token like everyone else has further down the road BTCC said it is planning to add more major cryptocurrency assets and is also open to listing more ERC 20 based tokens BTC sees relaunch plan comes nearly a year after a suspended Chinese Swan trading against Bitcoin in September of 2017 following the People's Bank of China's clamped down on icos and Fiat two crypto training though the firms shifted his headquarters to Hong Kong and maintained a crypto to crypto platform called Dax it was also suspended in December yet I'll be TCC's longtime rivals such as who Oh be an okay coin successfully pivoted to crypto to crypto platforms and rejoined the world's largest exchanges by trading volume I don't think a lot of people know that BTCC is back or that they actually have Fiat pairings with four of the largest coins that we have on the market this could get interesting don't quote me on that BTCC was a major player for quite some time anything that happened in China moved the market there was um there were jokes a lot of times in 2016 and 2017 we would always say like if China sneezed the market would kind of move up or down and that really wasn't a joke because anything that China did had kind of moved around in BTCC was not what buy Nance is now but they were a major player I'll just say it that way so the fact that they have come back and they plan on adding more coins this could be very good for the market and especially because they've added Fiat pairs this is always the the thing that kind of lights the fuse next up crypto currencies will not challenge the economic power of central banks the European Parliament said last week in the latest monetary dialogue report issued on June 26th the European Parliament Committee on Economic and Monetary Affairs said that while cryptocurrencies have made financial transactions relatively safe transparent and fast they pose no threat to sovereign currencies around the world the analysis which was conducted by the Center for social and economic research a non-profit Research Institute based in Warsaw first recognized the positive changes cryptocurrencies have brought to financial transactions noting that they now are used globally disregarding national borders crypto currencies respond to real market demand the analysis claimed and they have the potential to become a full-fledged private money or even a permanent element in the global economy however like this always however the researchers said it is unlikely cryptocurrencies will threaten central banks and sovereign currencies and dismantle the existing monetary structures especially in countries where their sovereign currencies are widely circulated so a lot of times a lot of people may hear news like this and not be very happy I like to think of the nicer side of this as long as they don't consider us a threat they won't ban us as long as they don't think that we will challenge their central banks crypto will for the most part go unnoticed like I said I think the time frame or the money time frame when we hit between two to five trillion dollars in the market I think they'll perk up a bit more but at this point this still gives people who are developing cryptocurrency projects the time to be able to create them and launch them onto the market without too much hubbub flowing around them this is this has been echoed by Russia this has been echoed now by the EU I think America put out something kind of similar to this and I think there was one country in Asia I don't really remember at the moment but I like what we have news like this I mean I'm not gonna say that crypto is going to take over the world but I like when they say that we aren't a major threat to them because it kind of gives us a bit more breathing room to be able to create projects and for the market to develop in a healthy way that's kind of just the way that I look at it at least next up the tezo's foundation has launched its beta Network calling the move an inflection point for the project according to an official statement on June 30th according to tezo's statement the team has proposed the generate the Genesis block of their so called beta net and transactions can be processed on the network the tezo's team also stated that users can start validating blocks or baking after the first seven cycles which they estimate to be in about three weeks in their statement the company encourages community members to take precautionary measures to ensure the security of their tokens while interacting with the beta net tezo's further warns that there is nothing to do in the firm can do if hesays or their tokens are lost or stolen according to tezo's website the baton that is being launched in anticipation of a broader may net launch in the future since raising a record-breaking 232 million dollars or any ICO in July of 2017 tezo's has been the subject of scrutiny and multiple lawsuits concerning compliance with US Securities and Exchange Commission regulations or the SEC the lawsuits claim that tezo tokens should be considered securities under US law meaning that they would have to be registered with the SEC to be legally sold to US investors the platform has also received criticism for delaying and release of his tokens to investors following it's ICO following the token sale a dispute arose between co-founder author and Kathleen Brightman who owned tezo's intellectual property rights and Tesla's foundation broad board president johan givers who controlled the raised funds leading to the delay of the platform launch tezo's is they were spoken a lot about I want to say sometime last year I guess when the ICO was just beginning a lot of people were talking about them this is kind of another platform that people I think actually claim will actually take over Bitcoin at least I read it a couple of times a day that they don't seem to be I'm actually going for aetherium if I'm not mistaken because usually everyone is trying to knock out the number to coin because everyone thinks it's impossible to knock out Bitcoin but I think tezo's is actually trying to become this worldwide platform if I'm not mistaken even just only kind of the SEC thing this kind of throwing it out there you may have rather how do I say this in the best and quickest way when it comes to the SEC regulations and stuff like that the SEC actively goes towards things with a consider securities and the fact that they haven't for multiple other projects not just ripple in XRP this is kind of what I talk about when I say that it's somewhat obvious what should be a security or what they plan on labeling as a security because the SEC goes after exactly what they plan on going on so there are other multi-billion dollar cryptocurrency products that already out there and the SEC has not gone after them and they kind of went are going after coins that have been around for about a year I'm not going to spend too much time on it um once again this is another contender that we now have in the ring or at least over the next three weeks more or less when they get the main launched but it's nice to I'm happy that these projects are launching and I'm I want to see real competition in the market like I don't want bitcoins in nómine forever I would like to see if there's another project that can be adopted that other people will be and you know using in the real world because I would like to see noticed a bit of a shake-up in the market you know I don't want it to be Bitcoin aetherium ripple and Bitcoin cash until like 2025 that'd be incredibly boring if nothing else next up Bitcoin is in the news today according to the latest report by fortune Bitcoin has seen more withdrawals then deposits in the month of April on coin based the largest cryptocurrency exchange platform based in the United States the report is based on the recent analysis conducted of 500,000 users of coin base by chime a bank based in San Francisco Bitcoin to see the huge downfall in its December hike and the currency market situation suggests that the Bitcoin community is slowly giving up I'll explain that in one moment it's not how it sounds Bitcoin the coin which led to the emergence of all other cryptocurrencies in the market has been witnessing a huge downfall ever since it's $20,000 high in the month of December ever since its fall Bitcoin investor started to withdraw more than invest the coin has seen a dip of more than 70 percent in the past six months the analysis conducted by chimes states that the investors withdrew $1 in 37 cents for each dollar deposited on the platform in the month of April and one dollar and ten cents for each dollar deposited in the month of May the analysis also should suggest that some of the early adopters of Bitcoin have sold around fifteen billion dollars worth of Bitcoin in the first four months of this year Chris Britt who is the CEO of a chime said and I do quote it's human nature that investors often buy at the highest price and sell at the lowest price while we can't predict the value of Bitcoin in the future I suspect we may look back at the current prices a few years from now and see that these lower prices were a great time to buy and I don't if you guys remember a couple of it had to be a couple of days ago now I had three or four videos ago when I was talking about my personal sentiment on the market is that I've kind of given up not giving up but I don't really care anymore I think the entire market is kind of moving in this direction I'm sure you've all felt it as well I've definitely noticed a change in the in the comments section and actually who's posting in the comments section I assume a lot of people especially other youtubers have stopped the making videos I think I think we're literally at like the at the finish line when it comes to like depression in the market what ended up happening in the past couple of years like I said if you have not been encrypted currency for that long we kind of go through this every single year but this time it's a bit more depressing because when we finally hit twenty thousand this was like a huge amount of validation in the mark when we hit 10,000 that was a huge validation for the market but the fact that we have sunk back down so low to where we are you know a lot of morale has been lost I make videos because I like making videos I like giving you guys the news I like talking about what's happening the cryptocurrency space but when it comes to prices I literally don't care anymore I'm trying to go about my life and do all the things I have tons of other projects that are happening so it kind of is what it is but you know like I said I think we're at towards the finish line of the depression in the market and even over here I was reading something a couple of weeks ago I remember the article was and they were saying a lot of people we forget as humans to look backwards it's nice to dream about the Lambo and dream about the big house on the beach but we forget that even though the market is down right now where we were even just this time last year we're still up if we look at where we were when that is to say when Bitcoin was 200 and the price of it I went to 1200 and then fell back down everyone was like wow the last time was such a great time to buy when Bitcoin went to 5,000 we looked back at 200 and said wow you know it would've been a great time to buy when Bitcoin went to 10,000 people look back at 1,000 at the beginning of 2017 it said well I wish I had gotten in a January where Bitcoin was about to hit twenty thousand people were actually posting articles talking about the Bitcoin was a great time to when it was 10,000 like I said we always forget to look back to see exactly where we were I know it can be a bit of a downer when the market is right now but and this is extremely hypothetical should Bitcoin ever hit 1 million dollars whether that be in 2020 like John McAfee said whether that be in 2025 like the other guy with the face said and Bitcoin is at 6,000 right now we will look back at the million dollar Bitcoin that we see on the screen and say well I wish I had gotten in there 6,000 that is not me telling you to buy or insinuating that you should buy its kind of just you know I think a lot of people have lost faith in the cryptocurrency market but pay attention to all the things that are happening around and all the bankers who are leaving the banking industry to get into cryptocurrency it's all kind of telltale at least for me this is why I keep saying for me I see it in my eyes but yeah you know um that's why I said don't uh don't think the the wrong thing about this article as I was talking about it didn't want you guys to think I'm talking about like Bitcoin is dead or something like that the Bitcoin will never die even if it goes down to like 15 cents in a hundred years people will still probably be using the protocols to send money between themselves even as a joke who knows in what could be one of the most interesting stories of the day crackin the cryptocurrency exchange is claiming that Bloomberg is manipulating the price of crypto currencies crypto exchange Kraken has responded to a recent article by Bloomberg that argues that tether is being manipulated on their exchange Kraken as then you know they're part of the problem back in took a dig at the articles complex headline and insinuated that the article was written to have an effect on the price of futures trading for Bloomberg reporters claimed that data from tether trading on Kraken showed two red flags for regulators on the 29th of June today Kraken argued that the article was badly written defied logic and was shamelessly copied by other journalists lemmings in response to claims that the exchange is involved in market manipulation suggested that Bloomberg have their own incentives for the price for the piece to be written crackin said and I do quote if we are to take up our pitchforks against market manipulation guide your torches towards the illumination the bloomberg news piece was published on the 29th of June the last business day of trading for quarter to an expiration date of numerous future contracts it raises red flags and quote Kraken was presumably referring to the CMI Futures Trading which ended on the 29th of June with a settlement date of July 5th futures trading is where to traders agree to sell an asset between them at a fixed price in the future essentially betting if it will go up or down Kraken is implying that the article could have dropped the price of Bitcoin making profits for those who had shorted it the entire thing I think the entire futures market what is just one massive mistake um the issue is I saw people in the comment section below all my other videos whenever I talk about futures people kind of get upset and they say why would anyone deal in futures or why would anyone deal in ETFs when you could just hold the coin physically that's not how people on Wall Street think if they can how do I say this if they can get control of the asset or influence the price without actually holding it this is kind of what they do we know for a fact that the other futures markets are actually manipulated heavily and they get fined often by the SEC and CFTC but when it comes to crypto especially Bitcoin because you know Bitcoin may be strong and have all the muscles but it is only nine years old there's not a huge amount of liquidity we see what happens when someone transfers 30,000 Bitcoin amongst them and a friend just transferring it back and forth not even exchanging it or cashing out into another coin so it's quite easy to swing the market where you want to go and I think at least for me when it seems like a large reason why a lot of bankers are getting it to crypto or a lot of people have gotten into crypto over the last year these institutional investors is because of the actual lack of regulations where you can't really swing stocks and do insider trading with stocks and bonds a mutual funds you can definitely pretty much do that right now if you know how to get around it when it comes to just how the system works not gonna really get into it too deep but I kind of side with Kraken more than I would Bloomberg these people while they are heavyweights in finance a lot of these companies maybe not Bloomberg have been fined before in the past for illicit activities and yeah I mean we know that the mark is being manipulated and it seems like everyone is just pointing a finger at everyone else I don't know if we're ever get down to it probably in like 10 15 years when someone writes a book about the past of Bitcoin will know exactly what's going on but as of now everyone seems to be blaming everyone else and I kind of think that everyone has like a small fraction of blame somewhere in this crypto story last up this is interestingly weird a world financial chaos and the escalation of trade wars are propelling the global economy onto a dangerous trajectory as a result calls for reforming the monetary system are getting louder for example Ron Paul a key US politician is now openly contemplating the prospect that a combination of gold and cryptocurrencies could eventually replace the US dollar I don't how do I say this I don't know that much about Ron Paul but I liked the idea of the article this is why I'm reading through it I'll just keep it at that Ron Paul ran for the US presidency on the libertarian party ticket in 1988 and he served in the US Congress for several terms from 1976 until 2013 while in Congress he was a prominent member of the housing banking committee Paul accused the Federal Reserve Bank of causing inflation which they did and he blamed banking mismanagement for the savings and loan crisis of the 1980s and the 1990s today he warns that a worldwide monetary crisis is imminent indeed we are already in a dangerous financial situation he said furthermore he said this as well this is why we call from monetary form is getting louder these dangers prompt a growing number of people to plan for an alternative monetary system this is good news end quote Paul also acknowledges that the movement to replace fiat currencies is already underway he said there are several major efforts being made to replace the Fiat dollar with gold or crypto currencies while other countries are making plans to challenge a dollar as a world reserve currency in quote not gonna get too deep into it it kind of just mimics exactly what all of this just said over here I did think it was kind of weird like I said always try to breathe between the lines pay attention to what you see but don't really not understand what what doesn't really seem that clear at first glance over the last I'm not don't please don't go back and watch the last six months of my videos but you may have noticed as an increasing amount of news about people in the banking system who are mining cryptocurrencies creating their own crypto exchanges or they're talking about they own this and making their own mining farms and it kind of makes you wonder why would people in the banking system be switching over to crypto currencies the same exact time when the normal stock market around the world is actually having problems in a lot of days they are completely in red because the prices are going down and things are kind of shaky whatever the case might be um not to say that everyone in banking is gonna switch over to crypto but I feel like they see something as they're in the system a lot deeper than we are they see something that's kind of going on that could eventually UM go south or go bad over the next couple of months cuz we've heard the financial crash of 2008 happened and then since 2012 there have been echoes of the next financial crisis and that is going to be worse than the last one that we had in 2008 and it could be a mini Great Depression if you will so since 2012 we're now in 2018 and we still have not had a crash since 2008 typically we have a stock market crash every seven eight years somewhere around there so we are a bit overdue and I've heard this before but people talking about that they definitely or they wanted gold to replace the the usdollar I don't think that's very likely in that if you're trying to buy a loaf of bread you can't have fractional gold but no one's going to be shipping it off to buy anything so in especially when it comes to people trying to get rid of the US dollar this is actually a real thing that is not a ally in any way if you search around there are a number of countries who are making China mainly who is making their own banking system pretty much around their currency and they're trying to get other world leaders to join their currency as well because a lot of these countries when they speak in private they are trying to get away from the US dollar because of the inflated price and other countries are actually trying to devalue their own currencies in order to make it more appealing to get into their currencies and to buy and trade with them as opposed to the US there's a lot of stuff going on there's a lot of really interesting things I'm not as deep as I was into final finance before I'm heavily into cryptocurrencies now as you may have realized but I think something is definitely going to happen and I still it always makes me wonder what exactly is gonna happen to cryptocurrencies when we when we do have the next market crash I don't know if Bitcoin or cryptocurrencies will ever take over the world but I think we are going we are entering a space where so many people from other people from the the SEC the CFTC like I told you before they are the board members on major cryptocurrency projects it's kind of telling when that happens so I wonder what the future will look like for finance and for crypto currencies as we potentially chug into this jump off a cliff I was watching something on CNBC and they were talking about um they had all these analyst and they were saying that the crash is either gonna happen at the end of this year or the beginning of 2019 I don't think anyone really knows but when it does happen I think we're all gonna be really I'm sorry I don't mean to spend too much time on this but you guys kind of get what I'm saying I always want to talk more it's really weird I always feel like I'm cutting myself off and I don't how much you guys want to hear about me rambling cuz I love to talk about this stuff like I literally I'm sure you've noticed before I can ramble like a lot of times I love to talk about the potential of certain things that could happen in the world and where the the economy is going because if you pay attention at all to it if you read the news and other news can be kind of depressing because of the world we live in right now but if you read about things about finance and kind of where the world is going you see that something is like where we're shifting towards that this is why I said it's so interesting that Bitcoin has been around for nine years a theory M ripple litecoin more well maybe the other two have been around for four or five years and there's such a huge backing for them right now and it's kind of you know why is there such a huge backing on this new monetary system of crypto currencies when the old system has been around for four or five hundred years like why the shift I don't know kind of like talking about it but I don't want to ramble for nine and a half hours in the video I know you guys have stuff to do hope you guys enjoyed hope you guys have a great day morning afternoon evening wherever you are wherever you might be thank you once again for watching I do appreciate all the support i'm always complete rubbish when it comes to ending these videos and pretty much i will talk to you all soon see you you

40 thoughts on “BTCC Relaunch, Bitcoin Users "Losing Faith" And Crypto To Replace US Dollar”

  1. Love the rambling! I do the same. I call it musing. So I say, keep on musing, nice to hear your line of thought. Some interesting points!

  2. excellent! i love your channel more than any other cuz is not about shill and charts, only the best news! i literally wait everyday to see your new episode! great job, i hope you keet it going for a long time!

  3. bitcoin is droping bicouse that fucking futures money never go straight to bitcoin market and always the market is hurt

  4. M.I.. Talking fast is a gift, your words have iron in them and are valued you have no reason to doubt you ability , it' has worth.

  5. Uranus entered Taurus May 15, same day Ripple gave public demonstration of an international transaction using xrp. Uranus represents global innovation and revolutionary shifts. Taurus represents among other things the financial and banking sector. Uranus moving back out of Taurus because going retrograde, but moving back to Taurus March 19, 2019. Once he is in the deeply exalted portion of Taurus (10 – 23 degrees) some time in 2020, or whats called the Rohini nakshatra in vedic astrology, crypto will really reach a high and xrp will be one of the biggest gainers.

  6. Glad someone is keeping positive. I've only started buying in the last few months, I'm happy if we hit 7700 this year but confident it'll be much better!

  7. Keep rambling! A lot of us are busy driving and can’t keep up on traditional news. And it’s nice to hear other people’s in puts on what’s going on in the world, you do an excellent job on the financial and crypto market updates. Thanks

  8. Ron Paul is THE MAN and maybe the most consistent advocate for personal liberty of any American politician in history, Thomas Jefferson included.

  9. Yes, rumble on longer. Consider making a full length video and short highlight version of that same video. Maybe post the highlights first, then the full length video after… 🙂

  10. If you wanna ramble more. Make a seperate video call it "Rambles: Crypto Conversation" or sumthin' once in a while… 🤔

  11. I'm getting to the point where I'm just going to walk away from the crypto scene. I've invested all I can afford and I don't want to deal with the stress of watching it all crash down. Hopefully it will turn around one day as I see cryptos as being world changing.

  12. The US dollar is in trouble, big trouble. Charles Hoskinson used to work for the Ron Paul campaign back in the day

  13. Most ppl are under the presumption that crypto will “lambo”. In reality, no one really knows and we are all in the same boat. Whether you have “invested” $100 or $100M in crypto, we are all hoping!

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