Cardano On Tech Monopoly; Grayscale Buys 11,000+ BTC; Coinbase Margin Trading

hello everyone welcome back to another episode of crypto vizor where we talk about everything cryptocurrency blockchain investing price and other news in the cryptocurrency space hopefully you guys are doing well thanks for coming back for another video as always if you like these videos on everything crypto hit subscribe down below here on YouTube also hit that notification but all that way you can be notified every single time I upload a new video which is every single day thanks for watching guys thanks for subscribing I also have a Twitter and a patreon the links are in the description if you want to go over there first up in the crypto news today cardano's charles Hoskinson cautions against Goliath such as Microsoft and Facebook acquiring permanent monopolies so we know that Facebook specifically has been in the news a lot recently especially in the crypto sphere and Microsoft as well cardano's charles Hoskinson stands out as one of the most influential entrepreneurs in the crypto ecosystem Hoskinson featured in a recent interview discussing his take on the ways to improve the global crypto adoption the etherium co-founder suggested quote a rebalancing of power similar to Switzerland as the first step to enable crypto acceptance he said it's crazy that we have people in their 80s and 90s lecturing Mark Zuckerberg Mark Zuckerberg on how he should run Facebook the only way out is to call another constitutional convention and gradually chip away the bureaucracy over 10 or 20 year period additionally he pointed out that the u.s. doesn't have the money to be the policemen of the world Hoskinson also highlighted Goliath such as Microsoft Facebook and Google being able to attain only temporary monopolies but on the other hand government's involvement in setting standards for such platforms can award such companies a permanent monopoly he argued that the crypto space can counter this by creating a decentralized social networks that will just be as viable with greater self sovereignty now basically what he's saying is like if they create become a monopoly that's not gonna last too long but what's happening is they're working with governments and governments are literally basically changing the law to he's these large corporations which is giving them the opportunity to continue to gather data on all of us think about it the the top five right Amazon Facebook Google Apple and missing one more sorry I don't know I don't even know which one I'm missing I don't even know which ones they said but you guys get it they are collecting a lot of data on all of their users and they're able to monetize that but on a larger scale we know that they're trying you know they know where you live they know where you go they know who your friends are they know what you like to do they know what you don't like to do they know what political party you're in they know how much money you make they know how you trap like they know all of this and it's all in the backend now what is happening if you look at like companies like Amazon if they're purchasing and buying a lot of smaller companies and this is the idea of what a monopoly is they just keep buying it up until there's absolutely no competition or just only one major competitor which is what we have currently it's Walmart and Amazon Hoskinson added that cardano's role is to create a self-sustaining economy which can be used like fiat to buy and sell services this will in turn increase the ad a supply demand unlike Gold's value that was driven by speculation and this the whole idea behind cryptocurrency is it's not speculative if there are use cases for it further crypto adoption can also be increased by involving developing countries that trillions of dollars of wealth or potential wealth Hoskinson told viewers that this is the reason for his frequent visits to places like Mongolia Georgia and Uganda after revealing his strategy for a DEA adoption he said quote if you could free up sorry free them up and become the monopoly in all those jurisdictions you've got an army bigger than anybody else's army and then you can come back to the Western world with it and then eventually conquer them too and quote and obviously that would be many many years away like he's saying chipping away at over the course of 10 to 20 years because what Cardno is doing in these other countries is they essentially are creating financial and technological monopolies by going in and working with the government think about that right there working with the governments to get things happening same same kind of way that things are happening in the United States but they're going into countries that are like currently in development and getting their approval and then they're gonna be building systems around this economy in 10 to 20 years they're gonna have something where it was the developing world and now they are the developed and advanced world and places like the United States unfortunately because the progress is so slow we'll then need that older technology just to kind of balance out hopefully that makes sense next up in the news greyscale Bitcoin trust gbtc accumulated over 11,000 Bitcoin in April at a 54,000 Bitcoin mind woahh analysts have noted that greyscale Bitcoin trust is buying more than a fifth of newly mine Bitcoin this shows that even Wall Street has developed an appetite for Bitcoin prominent crypto trader rhythm trader notes greyscale Bitcoin trust accumulated 11,000 236 Bitcoin in April 2019 currently 54,000 Bitcoin are mined per month right now they are buying up 21% of the new supply of Bitcoin in a year that having will double that number to 42% of the supply institutions are foam owing notably this marks a significant increase in institutional acceptance of crypto in fact during the latest bull run established institutions have played a pivotal role in catalyzing the increase of a value of Bitcoin now guys keep in mind grayscale Bitcoin trust if I'm thinking about the right one is like a trust type fund that you can invest in and I believe that the like Bitcoin trades I'd actually had a higher rate within the trust because it's not it's very hard to explain it works more like a kind of like a mutual type fund then it actually does following the price of Bitcoin but guys this is what I always say to you guys connect the dots like these are huge institutions and huge trusts and this is one of how many are like this are happening in the world and in one month they accumulated 11,200 Bitcoin at you know eight thousand dollars that's almost a million bucks that's from my top of head knowledge I could be wrong it could be ten million but either way it's a lot of money it's a lot of cryptocurrency I think it's ten million this is mind-blowing to me that this continues to happen and people are not seeing what's happening guys follow where the money is and connect the dots next up this has been in the news a lot recently in the last couple of days crypto giant coin based hints at first ever u.s. Bitcoin margin trading so I did a video yesterday or the day before I will link it at the end of this video where I talk about what is margin training because Finance put out a kind of guide on what margin training is and how it works for years the global Bitcoin margin trading market has been dominated by bit mix which at one point reached a daily volume of ten billion dollars on May 12th a new record high for the company now coin base and Finance are looking into looking to enter the market and again this is specifically Bitcoin margin trading the previous all-time high was reached mid 2018 when bit mix reached 1 million Bitcoin and daily volume equivalent to around 9 billion dollars speaking to the blocks podcast the scoop coinbase vice-president of business data and international Emily Choi has said the company is considering the addition of margin trading feature on the platform as emphasized by choi coinbase would need sufficient regulatory clarity for from US authorities before enabling margin trading for clients that is going to be a huge issue because we don't have any clarity around crypto currencies when it comes to US regulatory bodies bit Mex has not allowed us Bitcoin traders from trading on its platform and every main unclear whether by Nance would serve us users once it opens its highly-anticipated margin trading platform in the near future we're gonna be talking about that in a second because they actually said that they're not a by Nantz rep told TechCrunch that the exchange is looking to launch its margin trading option in the near term so yeah this is what I think is super interesting and I think that you guys well let's get into this first and then we'll get there if it makes some finance concentrate there margin trading operations and other major markets outside of the US for coinbase the US remains a viable market that is virtually untouched by other exchanges providing margin trading services choice said quote we still need to figure out figure that out because there's not a lot of regulatory clarity there right now in the US and so that is being discussed we couldn't probably be more differentiated that than them meaning bit Mex and Finance in terms of focus on the Fiat to crypto bridge and being a being that safe trusted center of the crypto economy so I think they're playing one game we're playing another and quote and that's true–but Mex and Finance are moving very fast and coinbase is kind of moving slow and they're going after the US market no doubt and they're putting a lot of their energy into the US market where a lot of these other crypto exchanges just kind of are like whatever the u.s. is gonna continue to stifle this innovation we're just gonna move on and go elsewhere so it's good to have the coin base which is kind of staying in the US and kind of pushing those kind of regulations but not a lot of other exchanges are doing it so this is what I also think is super interesting this headline in particular finance margin trading will reportedly not be open for the u.s. North Korea Iran Cuba and Crimea accounts look at where the u.s. is now being grouped upon in terms of financial products right it's very very telling and very very interesting to me that the u.s. is not only pushing themselves behind by not allowing this innovation and not clarifying laws or regulations or the regulatory bodies making decisions but now they are grouped with North Korea Iran Cuba and Crimea Wow Wow finance one of the leading crypto exchanges would reportedly not be providing margin trading services to customers in the US according to a reddit post a user Lefou FIFO who had previously pointed out that the exchanges API had enabled the margin trading flag for nine crypto currency trading pairs posted an update the redditor stated today I found the actual UI for it all take a look at it yourself and then has a link it seems the margin trading is very eminent margin trading will not be available to us accounts notably the service will be unavailable for accounts not only in the US but also Iran Cuba Crimea and North Korea and this is the margin trading account on like agreement on finance it says please note that the service is currently unavailable for the following jurisdictions Iran North Korea Syria Cuba Crimea USA and its territories please be mindful that margin trading is subject to high market risk it is sophisticated product and you are highly advised to invest cautiously by Nantz will make best efforts to give you a pleasant trading experience but will not be responsible for your investment losses that's the link to that so yeah a lot is coming out about margin trading guys with the u.s. debt kind of pushing up twenty two point three three five trillion dollars look how close we are to every single person who is a citizen in the United States owing sixty thousand dollars if you kind of divide the personal debt amongst everybody guys crypto it to me it's clear as day and I like that's why I have these videos that's why I talk about the news Bitcoin is sitting under 9,000 I think it peaked at 9,000 earlier today and then kind of moved back down but I think that we're gonna see a lot of volatility oh then next few months before we see a huge bull run which hopefully comes soon we will see let me know your thoughts in the comments below once again thanks for watching thanks for subscribing and if you want to go over to my Twitter or patreon links are in the description thank you again for all your support if you made it to this point in the video let me know in the comments below end of video thanks for watching I'll talk to you guys in the next video have a great day

6 thoughts on “Cardano On Tech Monopoly; Grayscale Buys 11,000+ BTC; Coinbase Margin Trading”

Leave a Reply

Your email address will not be published. Required fields are marked *