Crypto Weekly | Are we in full market recovery? Bitcoin in 28 year old game, & U.S exchange enquiry



hey guys here you going you're here with Bo welcome to another crypto weekly video today is a great one we've got the markets really starting to recover we're gonna have a look at some recent comments from Tom Lee of fun Scrat who has weighed in on the current market and has given his thoughts following that we're gonna have a look at an interesting article on some games released in the 1990s and 2000's that seem to have referenced digital cryptocurrencies and even displayed an image that looks like Bitcoin so stick around and let's get into the video so starting off to taking a look at the overall markets we can see some real growth starting to come back to cryptocurrencies we're having day after day of green now following that tax deadline of the 17th of April I really think that Tom Lee of funds drought absolutely hit the nail on the head as to the downward pressure that was coming into the cryptocurrency market I'll have a look at that in a bit more detail shortly but across the board we can see green we can also see the Bitcoin dominance reducing so some of the capitals coming out of Bitcoin and flowing into the old coins we've got major cryptos like aetherium up 10% absolute huge rebel up 17% Bitcoin cash up 11.6 percent across the board we got green and just about every single cryptocurrency so some really good healthy growth coming back to the crypto market take a look at the seven-day charts we can see at the start of the week it was quite volatile we had a low of around 309 billion u.s. dollars we can see some volatility following the next couple of days around the 16th 17th of April here is when the market really started to pick back up again finishing with a high of today at around 364 billion now when we look at the Bitcoin dominance we can see at the start of the week Bitcoin had a dominance of around 42.8% and the dominance has been reducing over the week and moving into the old coins we can see this gray line here represents the majority of old coins so we can see that Capitol moving from Bitcoin and into the old coins when we take a look at Google Trends for major search terms being Bitcoin aetherium ripple and cryptocurrency we can try and find some correlations between the shape of the graph according to the market Capitol now if we come back and look at the market Capitol we can actually see that there isn't really a correlation other sort of the past day really of Google search terms now this is a really good sign because this means you're getting sustained organic growth from investors into the cryptocurrency market rather than coming from hyper new forea that is driven by major news outlets covering cryptocurrencies around the world now while that's of course good as well you want new investors to learn about cryptocurrencies of Bitcoin and get involved this is what we need for long-term sustained growth and reduced volatility we want that organic long term growth coming into the market so I think this is a really good thing the fact that we're not seeing that kind of hype cycle driving the investment back into cryptocurrencies don't be surprised if this hyper new foreo cycle does come back though I think when Bitcoin or a theorem or the cryptocurrency market goes on to hit new all-time highs is when the major news outlets will start covering again and you'll start to sees us those search terms absolutely take off a lot of new retail investors getting involved and a lot of people getting into that phono cycle so in an interesting piece from coin Telegraph they picked up on a reddit post that shows an image from Final Fantasy 3 that was actually published 28 years ago that seems to show an image of a Bitcoin some other examples that they mentioned our early books have a publisher in the late 1990s early 2000s that seemed to reference different digital currencies that are backed by cryptography drilling down a little bit deeper it's likely that some of these books or even games were actually influenced by the cypherpunks now the cypherpunks were a group of cryptographers that came together and had a mailing list where they tried to solve various problems around governance and economics using cryptography one of the key members of these cypherpunks was Adam back who actually published a paper in 1997 around the use of something called hash cash which was a an early proof of work systems designed to prevent email spam and DDoS attacks the hash cash system actually has roots back as far as 1992 with an original paper that was actually called pricing via processing or combating junk mail other early Publishing's and works from members of the cypherpunks are things such as bitgold and b money both hash cash and big gold were actually referenced in Satoshi nakamoto's why paper on Bitcoin so Bitcoin in current cryptography today clearly had influences from the cypherpunks I find it fascinating to learn about the history behind cryptocurrencies in Bitcoin and how far back it actually goes if you guys want to read a little bit more I'll leave some links down in the description now moving on a regulation we have the New York Attorney General requesting information from 13 of the United States biggest cryptocurrency exchanges in a recent inquiry now the inquiry itself is called the virtual markets integrity initiative and is actually based around just learning some bits of information about these exchanges how they conduct operations how their trading works on the backend how they manage funds both cryptocurrency and fiat as a custodian how they go about anti money laundering and fraud and how they go about consumer protections some of the exchanges include G Dax Gemini by Nance Hobie Pro BitFenix plone e^x all the major exchanges based in the US so they've all been sent this letter and need to provide this information to their new Attorney General when you look at Gemini's initiative for a self-regulatory organization for us virtual currency industries you can see that the major players saw things like this coming back some weeks or months or even years ago and have actually put forward steps in place to actually come up with ways of managing and improving the regulation and improving the transparency and communication with United States government overall actually think this will end up very positive for the cryptocurrency space in the long run because ultimately what we want is more safe measures more regulated measures for there's exchanges so we can end up having Bitcoin and cryptocurrency ETFs approved by the SEC in the long run at the end of the day we just need these exchanges to be at the level required by the SEC for them to feel comfortable with approving things like ETFs and as we know ETFs are going to be them one of the major gateways for institutional money to start flowing into Bitcoin of cryptocurrencies regulation of exchanges in Australia is actually leaps and bounds in front of what is going on in the United States many Australian exchanges were implementing strict see in AML procedures far before our governments regulator odds track even made amendments to the AML CTF Act which would actually require these exchanges to increase those processes so a lot of extraneous changes are actually on the front foot when it comes to regulation if you're interested in learning a little bit more about Australian exchanges and their requirements under ODS track a little bit more about fear gateways and kyc and AML you can check that out on our site under the Australian exchanges guide there'll be a link to the site in the description now onto the crypto tip for the week we have a site called crypto influenced dot io now crypto influence is a list of all the biggest influences in the world that talk about Bitcoin and crypto currencies now the way they've ranked it says here is according to an aggregator ranking determined by community approval total average views and engagement percentage and as you can see some of the big some of the heavy hitters on YouTube are straight up we've got data – number one dug poke or crypto daily and I'm a non tech you scroll down the list there's there's a ton of different influences to be honest I'm not sure exactly how this is calculated and how it actually works but it's pretty cool nonetheless we're not actually we're actually pretty high up in the list where about our number around about number 80 I think last time I checked so it's pretty cool and if you're just looking for influences to follow or people to follow in the cryptic fantasy space this is a fantastic resource I'll leave a link down in the description if you're interested in checking it out now before we finish up we're gonna draw a random comment from the trays or video I did a week or so ago to see who will win the white trays or wallet so let's generate a comment and see who wins congratulations to Tru 57 for winning the white trays or awesome work you just got to get in touch with me now go down the bottom of the description and they'll be a link to the website where you can get in touch with me yesterday I had the pleasure of being interviewed by fellow youtuber Darren the Aussie share trader I was a really good into you you asked me some fantastic questions I had a lot of fun Oliver link to Darren's channel down below so yeah make sure you go and check it out and make sure to subscribe to Darren – he's a great guy so guys that's it for the crypto weekly video I hope you enjoyed I hope you got value out of it if you did the likes are always really really appreciated if you haven't subscribed make sure to click subscribe to come on board

20 thoughts on “Crypto Weekly | Are we in full market recovery? Bitcoin in 28 year old game, & U.S exchange enquiry”

  1. Hey guys, I had a segment on Tom Lee from Fundstrat talking about the market recovery but CNBC instantly copyright striked the video before I even published it, so I had to cut it out and re-upload it. Its really interesting stuff so if you want to check it out, you can read it on our blog -> https://cryptocurrencyaus.com/2018/04/20/crypto-news-weekly-7/

  2. Hi Beau, saw you on Aussie trader, it was a good interview. Glad I now know about your site as I do trade in crypto and always good to be informed as much as possible.

  3. Hi Beau, I listened to you talking with Aussie share trader and it looked challenging. Transferring from my ledger to Binance is a great fear. Have you or can you do a quick talk on it. The fact that if I press the wrong button all is gone.
    Thanks

  4. EOS will be no.2 Beau by the end of 2019 in my opinion. When it comes to investing in crypto i think the greatest gains will come from protocols like EOS, ADA, NEO etc in the next few years. I think these tokens are like buying into google and most of the cryptos are like the shit on the internet. I would rather own google than a website on the internet. What do you think? Does this sound like a reasonable way to look at the tokens in your experience? My confidence in EOS comes mostly from Larimer and his experience in creating bitshares and steem where he has learnt what works and what doesn't when it comes to blockchain technology.

  5. The reason I got into bitcoin is to get rid of wall street and all of there market manipulation, there is a very big (imo) chance that once institutional money gets involved the price will either get suppressed like gold or just plummet to zero. I don't think it was a coincidence btc took a massive dip just after the futures market went live in hindsight it makes sense, the run up to the date massive amounts of money came in to the market doubling today's market cap then it all disappears quicker than it appeared, massive coincidence or massive manipulation, I don't doubt that the market is manipulated a bit now but not as much

  6. Pavel Durov opened a public sale of tokens on Telegram! That's the kind! For a couple of days they snapped up practically all the tokens on tokentelegram. net

  7. In regards to Aussie exchanges, Check out blockbid (still in beta, you know what coin I am in love with Beau and I assist their dev team in any way possible, that includes being an Aus based contact to reach out to new exchanges and get listed 😉 ), and I'm impressed with the Kraken response to the NY A.G. letter wanting more info, not as orthodox and bend over backwards to please them, but firm in standing up for themselves.

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