Coinbase May Add Margin Trading

alright ladies and gentlemen mr socko here welcome back to the channel got a whole bunch of good news stuff for you today and we got so much and i'm gonna try and speed it along just a tiny little bit so that way the video was in like 40 minutes long yeah right anyway the first thing I want to talk about is crypto giant coin Bayes hints at the first ever u.s. Bitcoin margin trading and what's interesting is that QuickBase when it was g dax used to have a little margin trading leverage icon that you could select back in the day but it would on a lot it would disallow you to do that what it said it would was not available in your region so either they used to have it or they always had that button like ready for margin trading but then never really implemented it but now apparently it may be on the way so we have finance now adding margin trading and now we have coinbase adding margin trading which is great for anybody who wants to lose all of your money as soon as possible yeah that's not the case with everybody I get it but bid for next pretty notorious for losing all of it in just one fell swoop so if you're going to margin trade know what you're doing first and I just can never really recommend it just trade within your means so speaking on the block's podcast the scoop coin based vice president of business data and international Emily Choi has said the company's considering the addition of a margin trading feature on the platform again back on G Dax they just have a little button but it never really worked so I think that was just like preemptively going to add margin trading and they were just like yeah and the new coin base they sort of just swept it under the rug and for later what who knows so as emphasized by choy coinbase would need a sufficient regulatory clarity from the US authorities before enabling margin trading oh my just always getting popped up and bit max has not allowed us Bitcoin traders from trading on its platform and it remains unclear whether finance would serve us users once it opens its highly anticipated margin trading platform in the near future so bit max the allow it and then finance and nobody knows if you if you're a US customer if you can allow it either so it's just like we might in the future so there's way too much regulatory action in the United States so they just basically do it whether there are no rules so they say yeah we still need to figure that out because it'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 than them in terms of the focus on the Fiat to crypto bridge and being that safe trusted center of the crypto economy so I think they're playing one game and we're playing another so in terms of like trying to be different and you know I got Fiat exchange it's a little bit more regulated than some of the other exchanges that have margin trading but again right use margin trading absolutely your own risk and it goes the article goes on to explain why you know of sure they enable margin trading it's just because the profits right people love profits and that's basically the rest of the article but again you know one fell swoop one wrong move and you can lose it all if you just if you bid too much if you use too much leverage for what you have and you know another thing too is that the market is sort of manipulated and that when there's a lot of Long's everybody thinks it's going to go up then magically it just it just dumps and a lot of people just suspect the exchanges are sort of just pumping and dumping and it only takes a little bit to sort of dock everybody's positions and liquidate everybody then then they of course get all the fees for that so moving on to the next article here who is whale ooh second copy rate filing appears for the Bitcoin white paper and again anybody can do this so when the news came out that Craig Wright filed for the copyright Bitcoin SV shot through the roof and there's people out there that are like oh wow he's supposed to be Satoshi because he did this but now like anybody like legit anybody can do this well second copyright registration for the white paper has appeared in the public catalogue of the United States Copyright Office indicating that a certain white whale ooh is also claiming to have originated the work under the pseudonym Satoshi Nakamoto the filing is dated May 24th while Rights is dated April 11th and currently it's not clear who way Lew is I don't even know if I'm saying that correctly but either or why the registration was filed however it may be well that it is to counter rights move to assert ownership of the fundamental Bitcoin property that came amid a flurry of legal threats from right again against those who claim he is not Satoshi as he has claimed on various occasions though he has yet to provide indisputable proof such as the movement of Satoshi's coin so again another person files it which sort of it should really undermine Craig right and for the the bsv shills but it doesn't and again most people just chill because they want the price to go up and just so they I find it hard to believe that people truly believe that Craig Wright is Satoshi and again keyword believe that he is Satoshi so this isn't like religion it's not based on faith one should be able to absolutely and utterly prove that he is Satoshi he or she is Satoshi and be able to move original Bitcoin and some of the original wallets and among many other things and not just claim copyright on it when that's just not how Bitcoin works in the first place so I think like claiming copyright on it it's just essentially it just shows how little you actually understand it and I think Craig Wright just sort of does it for media purposes for propaganda and it certainly works it really does so moving on here podcaster Pete McCormack faces decision on lawsuit against Craig Wright so dr. Craig Wright has struck out with another lawsuit this time against podcast Pete McCormack dr. Pete McCormack explained his debate and a lengthy Twitter thread those who think this is about clout and promoting a podcast trust me it ever was it's a false economy one thing I refused to do is accept or say in court that Craig Wright is Satoshi and that bsv is the real Bitcoin he has warned against fundraising for the case if he thought about representing himself right in the meantime is busy using the law to prove his point earlier he secured his claims to authorship of the Bitcoin white paper over again not indisputable evidence so McCormack has also stated that he does not believe the claims he's not willing to a bit that bsv project is the de-facto Bitcoin and BBS V has a mixed reputation and recently that one % hype boost over the extremely volatile price fluctuated from 275 down to 224 and also on I think was BitFenix flash crashed 244 dollars for just a brief few minutes as somebody had dumped about 25,000 on there so another another victim of Craig rights lawsuits but korvac is also close to the Twitter personality huddle not who has also been attacked by the bsv community so far the attempts to reveal the personality of Hottel not have failed but he also has been threatened with a lawsuit for criticizing right was precisely the hotle not attacks that caused by Nance to delist bsv followed by Kraken and shape-shift which hurt bsv a little bit and so you know it pretty interesting that he just continues going after people it just it just feels like something like that Satoshi wouldn't do it just doesn't make a lot of sense you know that he goes around you know trying to sue people in in court for over these sort of things and it's just basically impossible to go to court anyway because he would have to prove that he is Satoshi and you know to actually be like well okay this is libel or this is slander against me because I actually am Satoshi so you'd actually have to prove that you're Satoshi otherwise you just like basically throw it out so I don't know what these even are supposed to be maybe it's just supposed to be for media purposes from Craig Wright or just to try to silence individual people but there is a community that does sort of attack people and it used to be the Bitcoin cash community the BIC would cash credit if you made a video at you know against Bitcoin cash stating your opinions against it you would get hit by all these commenters just absolutely attacking you from every single angle take my word for that and now that sort of went away nobody nobody seems to really care I think like the majority of those people went over to bsv and now when you make a video against bsv you get tons of comments of people saying that it's a real Bitcoin and that you're basically an idiot or you're he is Craig right so it's just you know anybody that says it is the de facto BIC when I think really is just trying to show for money and trying to make sure that the project succeeds and goes up in price and I mean who wouldn't want that but to say that it's the real Bitcoin it's just a little crazy it's just it's not it's a fork could it be better than Bitcoin potentially like possibly right like you could give it that that information you know like Oh like has bigger blocks maybe it's faster maybe it's cheaper yada yada but it is not Bitcoin right that's not what you know like the world is interested in Bitcoin not a fork of Bitcoin you can't call it the real Bitcoin it's just a fork it's about how it works so moving on here now I made a video a while ago that quaint star had started to sell Bitcoin but the now coin star expands to 2,200 locations after overwhelming bitcoin demand so one of the main reasons why people have resisted bitcoin is that they find buying crypto challenging and complex indeed finding where to buy and the process to feet exchange fiat currencies for bitcoins been unclear for most people however the number of brick-and-mortar locations where the consumer could buy the cryptocurrency continues to increase dramatically in the US for example consumers can walk into a grocery store and buy the cryptocurrency at 2,200 Coinstar kiosks now of course there's probably going to be a ridiculous fee every time I see now people talking about the coin store is that it's you know quite expensive and it's always priced a little bit above market plus there's like a four or six for something percent fee I should make a video subtype of me buying some Bitcoin with change at one of these coins stars although I don't think one is near me that looks like more like Tucson or something where that coin store location is I'm not sure if there is any where I am they've specifically sell it as you can see it's like only certain locations actually sell the Bitcoin I believe but I'll have to check and if one it does sell it around me I will make a video buying it like a boy like 40 or 50 bucks worth of change and Bitcoin or something like that but what you need to do is like you you give your change and then you get your money from the counter then you have to put an actual like dollar bills into to get the Bitcoin look you don't get the Bitcoin with change you get it with the actual bills so you have to sort of change it go get your money and then go back to the coins and then put in money to get your Bitcoin but if if there is one around me I'll show it now I'll talk about the fees and everything like that exactly but I'm sure it's pretty high fees I goes without saying pretty much but it is quite convenient especially if you just have a bunch of change and you're like I'm gonna go get Bitcoin with my change like what how else are you really going to do it you know I suppose you could roll them up go to the bank put it in the bank then send it over but it's pretty convenient and it's it's good adoption it's sort of like a new Bitcoin ATM it's a little expensive to be totally honest but so they're expanding rapidly after people are overwhelming Bitcoin demand through the Queen star machine so hey fair enough right so next article here Bitcoin demand it slips 5% as new alt season is taking shape and I want to sort of disagree with that 5% it's more like 4% maybe 5% at best but it's actually a little bit less than that you could see the Bitcoin dominance it used to be like 59% high and now it's about 56 or 55 fluctuating so it's really not quite 5% I'm not sure where they're getting that exactly but at least according to coin market cap so just means that olds are going up disproportionately now to Bitcoin so for a while there was actually Bitcoin only going up and we almost reached like 60% dominance of Bitcoin and while the ultra basically just not going anywhere and now it's the ulcer going up and down more so than Bitcoin and that's to be expected so al-quwain season is a period in the market cycle where other crypto currencies outperformed BTC even as Bitcoin is increasing in price during this period Bitcoin dominance which is measuring bitcoins relatively share and the cryptocurrency market is traditionally lower in the mean time alt coins are gaining strength and further momentum and at the time of this writing Bitcoin dominant stands around 55% which marks a decline of about 5% so if fair enough about 5% but it's not quite it's also worth noting that this comes at a period during which bitcoins price actually increased since May 14th it's up almost 10% yet despite the increase its overall share in the total market has declined and you can see just you know just greater gains of course on all Quaid's which is nothing too crazy but it might be about that time and I'm not saying get rid of all your Bitcoin it is definitely a good idea I'd say to have the majority of your portfolio in Bitcoin just for safety reasons but like maximum money yeah probably mostly altcoins to be totally honest so that's up to you guys but just letting you all know that it's gonna be about that alt queen season and for the final article here how the mega-rich by their big quinn so there's some interesting tidbits in this article so an office in Mayfair West London which is a home of Daddy Ani syndicate the brainchild of art dealer Elise daddy Ani her gallery daddy under fine art was the first to accept cryptocurrency payments back in 2017 and they initially founded the syndicate as a kind of crypto concierge service for the ultra-wealthy this enabled holders to cash out their cryptocurrency profits into luxury goods like yachts and gold bullion she helped one chinese anonymous Chinese billionaire buy for used Formula one cars with four billion dollars worth of flight coy so yeah like you know cuz I kind of want for Formula one cars you know like you can't just have one Formula One car like you kidding me like you gotta have for for all your all your buddies right you go out back like you guys are like a little bit plastered right you're on your own property they'll come on it's not public roads and like you got a little racetrack you're like whoa guys you want to see the Formula one cars and they're like what you know II mean like you got Formula one cars okay I got four of them and you guys just like race him around until one of them just crashes it you know he's a cop all right then cuz it's like nah that's fine I'm a billionaire but uh so Danny yachty says that she sees her role is very similar to that in the art world she puts together people who want to sell and those who want to buy one client approached her with an interest in acquiring 25% of all Bitcoin currently available that I'd be over 4.4 million at a cost of about 38 billion dollars at current rates clearly it's not gonna be possible but daddy honey is tasked with getting as close to 25% as possible so again as kind of just shows that you know the ultra-rich sort of you know exchange their Bitcoin for again for Formula one cars why you're a billionaire right like like for you of course you need four of them or yachts or gold bullion there's also over the counter I think crack it even actually has sort of a like a a dark market an over-the-counter market of Bitcoin that doesn't affect the price so much so it's just you know liquidity priced at you know such-and-such and you can just buy all of it or some of it and they have you know that all that waiting for somebody so it doesn't so you don't end up having to go on to the exchange and as you're buying it of course you're you're buying people's or sell orders and you're going up and up and up in price as you're buying several Bitcoin at a time you're raising the price and eventually you know for your millions of dollars or whatever you're actually getting less than what you really wanted to so of course you go over the counter but it just goes to show that more and more people are getting into it and even though it doesn't affect the price that much when they buy it over the counter that Bitcoin has to come from somewhere and eventually they're going to have to restock in Bitcoin and eventually sort of move between into that over-the-counter as they're gaining fees or something like that and then selling it which essentially creates even more rarity over time so moving on a coin market cap here we have lost a good chunk of the market cap a little bit here 261 billion dollars down to 8200 Bitcoin so we reached about 90-100 I think it was on like G Dax or Quimby's Pro now it was like ninety or ninety thousand fifty so we were nearly ninety one hundred and dipped it pretty much eighty one hundred now we're a little bit a little bit above that so you know it was pretty clear that everybody had a ton of sell orders around that point of nine thousand and there was a sort of a whale ish purchase that you can sort of see if we could just go to the one day and you could see where it it jumped up super quick here and it's about nine thousand average on quaint market cap here but it was clearly a big chunk of a purchase and there was so many sell orders that it really chunked it downwards and now it's just sort of on a downward spree so it depends on how far we're gonna get down here but I think it might just end up going right back because because we are in a very bullish market in my opinion now some people say it's not some people say it is but there's what I what I go off is is not just necessarily the price going up and down but the fact that there is so many new articles so many new institutional investors so many more people chatting about the rise of Bitcoin actual like media on Bloomberg and CNBC it's stuff like that so like that's all good like there's just this high psychology you know a very positive psychology the market right now and so I think we'll just keep on going up but hard to say of course welcome to crypto and we could just see anything any day right and that's why we're all in it but as you can see Bitcoin has V pumped because of that fake news the other day in common air on TV and you know we're at like nearly 200 s V and it's dumping pretty pretty hard now as you can see it's like the highest lost coin pretty much on the top 100 of the day just because it was 100 percent the other day but that's all I have for you guys today make sure you subscribe to the channel like the video that helps me out a lot my social media in the description below give me a follow on those if you get an opportunity to do so but hope you all enjoyed it and as usual I will see you guys next time

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