DeCrypto episode 1

hi guys and welcome to the first episode of decrypt oh where will be decrypting the weaken cryptocurrency my name is Gareth Jenkinson I'm Darren Pollak I think the most important thing we need to get across this week is the Accio situation and the mainstream media we saw headlines they were stating that over 800 are SEOs dead or dying or not even worth a cent anymore and as well as that they'll talking about how Bitcoin itself has dropped 70% of its all-time high Lawford lot of negativity going on but I think there's more to it than that so in actually let's see the ICO market seemed evolving there's more money being pumped into our ce o–'s in March 2018 was the best month ever with 2.9 billion dollars being raised by ICS yeah but you I remember after the reason for that month which was off the charts was because of telegram and telegram raised 1.8 billion over a couple months but March was its main one and the Venezuelan Petra was another one that raised over five billion through its a CEO with much kind of spin right in them but these are private sale a CEO is amarante yeah so private cell it's also becoming a big thing people are enjoying the idea of a private cell Accio because they get to focus in on the investors and those investors can really focus on what they want to get out of the product so the venezuelan one was kind of a private cell but the the telegram one was a real private cell to the point where they said that they know you're gonna run the public cell anymore because they've raised so much money just what their private cell so then the pitch low is completely different in my opinion it's presale was focused at big money investors they weren't even accepting bolivars which is obviously the national currency and they're looking at those big international investors and to be honest I like to cook the currency because this is a country that has struggled with hyperinflation for a number of years and they've seen the value in cryptocurrency offering a way to not only battle hyperinflation but create a new currency that's backed by oil but it was also cryptic and see see it's interesting you say that because a lot of people don't like the petro but even more than that people are kind of they over are SEOs and Mary's pigs they think that they have its kami and the co brands got a bad rep but I think that's changing I think people are trying to make osteo space better and I've trying to make Accio space better in the future could be a good Avenue store we even if we look over the trends from 2017 towards 2018 there's been a change I mean the duration of last year's of look has become longer yeah that's right so in 2017 a she owes about 50% of I SEOs were lasting between 10 and 30 days so people I need taken 30 days to raise funds for whatever blockchain based project they were running a short very very short but now you see in 2018 a bigger proportion are lasting between 1570 days and even there's a SEOs that lasted over 150 days so you're looking at almost six months for nacio and 2017 there was no one did that in terms of the dots have provided there's not one last year that lost 150 days and in 2018 about 5% went that far now we saw the start with iOS back in 2017 they launched the ICO that was a year-long ICO so they took a year to raise funds through their he OS token sale which was an aetherium ERC 20 token which obviously has to be converted to an iOS native token they're grappling with that now but they took a whole year to develop and you know raise funds for the project so that if it's completely changed again it's interesting because yeah that that headline of 800 US years or thousand maseo's depending where you look is true there are a lot of projects out there that come and go like the weather and they don't but the ico space is very new if we think the cryptocurrencies space is new it's 10 years old the Osseo space really is only about a year 18 months old and it's got a lot of weight to go I think it's going to get better I think these trends that we've seen in terms of people taking the time with the Accio focusing on private ah SEOs where they're more comfortable it's going to be better for the space in the long run and by making the space better a ciose I think will still survive and they won't just be associated with scams and and reports the whole time she'll go get some coffee I think so you wager I think talking about Wild West or talking about our SEOs and the Wild West situation they bring I think we've got to talk about stuff that's happening in exchanges in Japan especially and even blockchains are getting compromised and how much it's scaring away investors we saw this week Japan delayed its deposits delayed its withdrawals people questioning why actually came out that they are trying to increase their know your customer verification and the reason being is that they're worried about Yakuza using the exchange as a way to launder money this is do you're at the situation in Japan is pretty hectic I mean considering that you know basically Yakuza mafia using cryptocurrencies to launder their money look it's long being talked about but you don't often see it that people actually stop exchanges from operating because they're worried about these people using money for nefarious means yeah this goes back to February quintic were hacked and that led to the FSA the Japanese FSA to issue basically a Business Improvement letters to numerous exchanges which was basically forcing them to put in into practice better know your customer regulations actually register people for bank accounts and that sort of thing to make sure that they know who these people are they're actually trading on these exchanges a lot of people thought it's a bit hectic the FSA getting so involved I mean they even they went to the fires to start regulating the guys who were in charge of the self regulatory body they ended up quitting their positions at the top of it because that is deal with their own issues that the FSA were trying to sort out but for me I think it's great I think it's a good idea Japan must go out there clean up these exchanges make sure they are running like proper businesses because they're operating with millions and millions of dollars and yen and if they can make the the users not feel sorry to risk then it's a good thing it's good for the growth of crypto that's good for Japan itself and people be more trusting of exchanges going forward well I think that's enough one day guys like we said earlier this is the first episode of deep crypto we're all being we're gonna be unpacking the week in crypto and discussing what we think is important and discussing what we think needs to be done if you liked our content go ahead and subscribe to our YouTube page you can also follow us on Twitter and of course share this video and give us a thumbs up thanks guys see you next week

One thought on “DeCrypto episode 1”

  1. And reports say more than half of ICOs in 2017 failed, and more than 80% of ICOs are scams. The problem is that in general, people do not know how to tell the difference between a crypto / ICO scam or not, and the ones that are not scams have a really high rate of failure. ICOs are not put put through rigorous checks that IPOs are for example, and it is very easy of anyone to create one.

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