Did Cryptocurrency Get Saved By The US Congressional?! (Crypto News 02/06/18)

what's up guys crypto club here and today I want to bring you the crypto news of the day today's day is the 6th of February 2018 and I'm gonna bring you the news about crypto currency in the last 24 hours but I want to focus mainly on the sort of crypto currency Congress hearing that happened earlier today as that is basically the only news that's being talked about today if we scroll through there is some sort of exception with the Nano iOS wallet but I want to focus the whole video and make a quick one about that hearing today as that's the most important thing that's really happened today and as a result from a few hours ago crypto currency has started to recover slightly and they saw all the crashes kind of come in correlation with the stock market crash if you aren't aware there hasn't been a bit of a stock market crash happen at the same time so is correlation with that so it's probably expected that we could see a recovery coming soon as as soon as the sort of stock market starts to recover but in terms of crypto currency at a moment is recovering slightly with Bitcoin going above $7,000 a theorem above $700 and most cryptocurrencies in top 100 in the green equine for some reasons gone up three thousand six hundred percent almost done all what's happening in there ever is holding equine is I'm manipulating the price was very very happy now but anyway next thing I want to talk about as I said before is the Congress hearing if you look through the whole of Reddit at the new section for cryptocurrency you could just see is absolutely stacked with the idea that this man here the Chairman had gone low Carlo gun gang Carl I think that is how he made some statements in front of the Congress basically protecting cryptocurrency and defending the movement and the growth of it in the near future heavily up forward people saying is a very bullish from what he said 94 percent up by two thousand six hundred points and read it through information here I want to talk about is also a transcript written out in note form about what was said in that hearing but if we get an idea of what he said the credit user east Y cold are basing it summed up for us so just what he said is that his kids were not interested interested in stocks bar hooks on the cryptocurrencies and the government has to respect that and develop a positive outlook this is probably because you know obviously kids don't you know they're not really into politics and stocks and just boring stuff like that where you know is interesting as you get older where you can see their money to be made but cryptocurrencies as I'm actually being some sort of at your currency and them being some sort of money it's very very interesting it's not just like looking at company stocks it's looking at actual you know a intangible thing that's very very interesting to look at and actually hold some value depending on what you value it yourself and the intrinsic value is just medicine here and kids obviously gonna get and grasp sponsored art because something to do in technology world obviously kids are getting more involved in technology something very excited to get involved in something they can probably see themselves getting into the future and leading them in some new industries in the future one in the range of jobs they can get into the future and obviously it's just um very interesting to see that a national chairman mention is that his kids are into it themselves and it's obviously gonna play some sort of part in terms of the government how they look at that and look at the development of them their children in the future and their education next thing here they talk about is how while scams and frauds must be crackdown on the general market must be allowed to develop so not touching exchanges and things like that a working group of SEC fight fin cen a CFTC and other group members are working on identifying scams in the space so you want to crack down on the scams like other countries like China and things like that and Asia in general they don't really want to manipulate the growth of the market and keep it you know going up as much as it is just by keeping the scams out keeping all the black market stall operations out and just basically obviously having a tab over all the illegal activities which every single government should do in their right mind next thing it says when asked about crypto if it has an intrinsic value there is an intrinsic value and relation of the value of Bitcoin and the cost of mining it the price of Bitcoin is just publicly traded company like McDonald's in comparison global money supply seven point six trillion and since Bitcoin has been compared to digital gold value of gold in the world is eight trillion it says here that he just mentioned whole model as well and according to him it meant hold on for your dear life so it's also a quote here where says we must crack down hard nosed who abuse our young enthusiasm for Bitcoin and blockchain technology we are this new generation to respect their interest in the new technology with a thoughtful regulatory approach in the middle of all this Senator Brown was constantly bashing banks at I'm related to the discussion apparently banks have had over 80 violations in the recent months the other points that I'll mention that there was no actual sort of drug dealing mentioning in the proceedings and also illegal transactions were discussed and the steps taken to combat the misuse of crypto but obviously as I said that before every government needs to regulate cryptocurrency to a certain extent so you sort of have a manipulation over the illicit activities that going to happen involving cryptocurrency because obviously with the idea of some cryptocurrencies being a sort of anonymous crypto transaction based system which not all of them obviously sell for they want to be decentralized as and main focus they have to have a tab of the illegal transactions and things like that and the drug dealing well or in the black-market world I need to have a tab on some regulation is in favor of the government obviously and needs to be done for it to successfully grow in the future but as you said by a gang Carlo it's very important that we leave the market to grow in its own and don't have too much influence on the market itself the general market but the illicit market can obviously be cracked down on and that will make sense every people all the people in the comments are thinking is super bullish news which I agree with very suppliers then gaudy as kids and stuff like that says it's very good for so many reasons protecting protecting regular investors like me from scans and hacks I am for one absolutely happy for this as it was a reason so many people were afraid of this space the u.s. has set for a long financial standard for the rest of the world this is a massive step in the right direction guys I couldn't agree with them more as I've said before if we commerce is overrated post which I'll leave in the description below for you to check up yourself there is a full sort of transcript in note form that explains basically with a sore back and forth conversation about cryptocurrency if you're on the read for it yourself I've already read for it some important information there but a lot of it has been summed up by this post here and you might find some things that I haven't notes on and leave in the comment section below if you do find anything I want to mention anything that you heard from the hearing today there might influence it for the better for the worst but over and over overall I think this is great great news for cryptocurrency and this is only the real big news for the day so I don't we have to cover too much else so I'm really gonna sum it up there is also something that was quite funny that I forward to mention somebody spied in recording of the proceedings you can see here someone had their hair dyed and the cloud glasses or the glasses on to kind of look like Satoshi light which is Charlie Lee's Twitter account and the emblem he has on there to kind of be a props to like Clara for that was quite funny to mention as people are kind of taking this seriously but obviously he's taking it kind of in a jokey way but I'm very excited for nonetheless for cryptocurrencies ahead into the right direction and the US government are setting a standard for the rest of the world to kind of you know take on the growth of the general market and sort of them encourage it because our younger generation again involved and it's our new sort of forms of stocks for the younger generation it's very important that they get involved and get into it so you can see great amounts of growth and development in terms of the financial space in the near future but obviously illicit activities like the black market and things like that and drugs transactions needs to be held on tab for and there needs to be regulations put in place so it doesn't get out of control it's a great job by the US there anyway as I said before if you liked the video please give it a like and also if you only thing to say for yourself comment a comment section below what do you think about this proceeding and if you have any news for yourself also if you like my videos please subscribe to my channel hit that Bell notification icon to be notified when I next upload this has been crypto club and I'll see you in the next one

36 thoughts on “Did Cryptocurrency Get Saved By The US Congressional?! (Crypto News 02/06/18)”

  1. Guys can you do an in-depth analysis of the upcoming Monero fork with MoneroV? It's the first crypto dividend for Monero.

  2. Maybe it is good that China baned all crypto Websites… so they can't sell and there are less coins to buy… so they Price will rise


    Would be happy for any donation 🙂

  3. Expect a swift retracment across the board; that'll be the next entry point. I explain why & how in my latest vid 😉 hehehe

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  5. Thanks for your update!! Looking forward to your views about the upcoming monero fork with MoneroV. Please say something in your next vid about this fork.

  6. stop waiting and losing your assets ! It Doesnt matter if the market goes up or down or sideways ….! we keep making daily at least 300% 🚀 profit ! 💸💸 join the group now ! if you dont like it , u must not like money t.me/pumpNgains #bitcoin #nospam #Nofakeshit

  7. Crypto isn’t finished but no one knows it’s future for certain. Some Will survive but in what shape or form?

  8. So congress is actually cool…. Cool tell you what goverment i will pay my taxes when i cash out thanks 😉🍸

  9. Remember this kids…… a cap of 300 billion in total is nothing even PUTIN (1 persoN) has this kind of money.
    Such potential in crypto growth!!!!!!!!!!!!!!!! HODL!! get some money!
    D O N T L E A V E T H E T R A I N !! !

  10. What we've found out is how the Crypto Exchange is connected to the Stock Market. The Stock Market crash obviously caused the Crypto crash. The Stock Market recovery today pulled the Cryto Exchange up with it. This is scary, but I'm glad today was a positive day for Crypto.

  11. Positive support. If China is banning we need to encourage adoption and get a lead. The right regulation is needed but not stifling the growth. The vast majority of us are honest supporters who see the potential of this technology. I just bought my daughter 1 LTC today to get her on the ladder. Keep up the good work, invaluable insight to the community.

  12. Hell yes!! Crypto can’t be stopped!! They show these people is here to stay!! HODL and let this market run up again!!

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