Fed Chairman 'Very Worried'; Coinbase & Bittrex; NYC Blockchain Center

hello everyone welcome back to another episode of crypto vizor where we talk about everything cryptocurrency blockchain investing price and more thanks so much for coming back I really appreciate everybody who watches I know that I have a lot of loyal viewers who watch every single day I do have a Twitter page it's twitter.com slash the crypto visor there's also a link in the description you can head over there and follow if you want to get notified of all new uploads and if you are on youtube hit subscribe down below and also hit that notification bell trying to get to 10,000 subscribers thanks again for the support thanks for subscribing thanks for following first up in the news fed chairman Powell says he is very worried about the growing amount of US debt so if you are not aware I've been pulling this up on pretty much most of my videos this week and I feel like I'm gonna continue to do this so just since yesterday the national debt in the United States increased by about three billion dollars the day before it increased by two billion that from the day before that so literally in the last two days the national debt in the United States has gone up about five billion dollars think about what we're also talking about recently with five worth five billion dollars the government shutdown everybody's arguing about five billion whether you're for or against it at the end of the day the nation continues to go deeper and deeper and deeper into debt so let's get into this article because it is oh my god this there's so much to this article this is actually an interview that is Federal Reserve Chairman Jerome Powell and he's concerned about the ballooning amount of United States debt this is a clip from his interview I'm not gonna click it cuz I'm not sure where the copyright issues are and YouTube is very weird with that he said quote I'm very worried about it Powell said at the Economic Club of Washington DC he said from the feds standpoint we're really looking at a business cycle length that's our frame of reference the long-run fiscal non sustainability of the US federal government isn't really something that plays into the medium term that is relevant for our policy decisions however he said quotes it a long-run issue that we definitely need to face and ultimately we will have no choice but to face he added the Fed Chiefs comments came as the annual u.s. deficit reaches new sustained highs of one Episode above one trillion dollars that means every single year the country is losing one trillion dollars sustained meaning this has not changed for quite a while a fact many economists worried could spell trouble for future generations annual deficits have topped one trillion dollars before but never during a time of sustained economic growth like now raising concern about what would happen if a recession hits now I want you guys to follow the money okay so the country is almost in 222 trillion dollars in debt we're gonna get back to the article and some of his comments 22 trillion dollars in debt and most of that is personal debt 19 trillion of that is personal debt so when you hear the economy is doing great keep in mind that literally almost every single person in this in this country is in some sort of debt right and you're hearing the economy is doing great the economy continues to grow the stock market's doing well and we keep giving tax cuts to corporations and wealthy individuals and yet the rest of pretty much the country is in significant serious debt to total u.s. debt is about 21 trillion with about 16 trillion owed by the public in part because of continued rate increases under pawel the interest cost on that debt could start to become a bigger and bigger burden Wall Street's bonking and respected financial prognosticator Jeffery good luck said in December that the Fed seems to be on a suicide mission raising rates while the government deficit increases as a share of GDP normally when the deficit is expanding the Fed would be lowering interest rates good lunch added that the economy appears to be slowing and me maybe the supply makes it so rates don't go down with economic weakness Fitch Ratings one of the top credit rating agencies that analyzes companies and governments alike said Wednesday that the ongoing government shutdown could Stu sorry could soon start to impact it's the sorry its ability to pass a budget and could impact the government's triple a sovereign score so I would highly recommend going to this video this is the full it's like a 45-minute interview that's why I didn't want to go into it here but it is really really interesting what he's saying you know normal everyday people do not really understand what this means what this debt means to them personally to the country so the sustainability of the economics I mean we hear continually all the the country is doing great the stock market's doing well the economy is doing well the economy has ultimately changed definitions over the last ten years and the economy is now how good corporations are doing but the corporations are not putting money back into the people's hands by raising wages as you can see here the median income from 2000 to 2019 which is current has only gone up about $1,500 well maybe almost closer to 2000 but it's still not a lot when you see that the median income sorry the medium home has doubled in price and that half of the country is receiving benefits of some sort from the government so unfortunately I feel that this country is so far deep into this that we are going to go nowhere except for a serious serious financial crisis and possible recession I don't know what exactly that's going to look like but when you hear companies like Apple which just recently said that they are not projecting that they're gonna hit their 2018 sales goals and they're blaming it on the trade war between China and the United States at the end of the day I don't know anybody that has $700 to $1,000 to go buy a brand-new phone because it has a new camera or you know we're five six seven years ago where the everyday person was doing a little bit better than they are doing now I'm not gonna say the hood the economy is doing well because it was recovering people would buy you know they had a lot more disposable income and when you look at companies like Apple although Apple may pay quote-unquote higher than some other companies Apple still has people making you know under the poverty line for wherever they are so if for instance somebody works in one of their stores in one of the major cities they're probably making minimum wage or close to it and not able to maybe even afford the phone that they so this is where I talk about this because I feel that this is so relevant to the cryptocurrency industry because when this balloon pops which it is balanced a pop because this cannot continue to go up like this at this rate and now there be no consequences this is going to drive people to cryptocurrencies where they can have more of a stable kind of currency and because I feel that the US dollar is going to be devalued when this hits because I mean this is this is a lot of citizens people like this is me and you your neighbors I mean if they you see if they take the personal debt and divide it by every citizen in the United States that's $60,000 that every single person would owe just to get out of this rut which is never gonna get out of so it's really really for me it's interesting to hear the Federal Reserve chair say things like this that he's worried about it and it's a long-run issue that we definitely need to face and ultimately we will have will have no choice but to face it and I think a lot of people are in this like cloud that oh you know that doesn't affect me no it's going to affect every single person who lives in the country if the bubble pops which is going to like this you can't you can't have a nation with more we are almost double what the next highest country with debt is and that's Japan with I think it's all closer to 12 trillion dollars so let me know your thoughts but I totally see that this is and we know what's happening in the stock market right now have been going up for the last ten years and where are we now we're under where we were a year ago stocks are gonna continue to fluctuate and then I predict that they're probably going to significantly take a hit and drop probably in before 2020 but it may be in the year of 2020 but we will see like I always say do your own research make sure that you understand what you're investing in and don't make decisions just based on what I say in these videos next up this kind of goes to the whole corporate type businesses so coinbase opens a new office in Portland Oregon to expand crypto companies US operations coinbase just announced the opening of its new office in Portland Oregon on Twitter the San francisco-based crypto giant now has seven offices worldwide coinbase posted photos of the office Grand Opening Ceremony on Twitter earlier today the crypto community sorry company added that it was inspired by Portland's diverse tech community and deep talent pool keep in mind also Silicon Valley is becoming more and more difficult for people to live afford etc I mean I've read articles that some of these techies who live in and around San Francisco and that kind of area are paying you know seventy or thousand dollars a year for rent if not more so we are seeing that some of these companies are moving I just find it interesting that coinbase continues to open up more offices and talk about more coins more coins more coins and they don't they're not listing any crypto currencies that anybody really wants coinbase first announced that it was opening an office in Portland in June 2018 as part of our plans to continue expanding and grow coin base is opening its newest office in Portland Oregon the company wrote in a blog post at the time coinbase decided to open the office in Portland after exploring a variety of different US cities after a thorough analysis the coin based team decided that they were inspired by Portland's incredibly talented innovative open source and blockchain communities adding they also appreciated Portland's commitment to providing equal opportunities for all as it mirrors our values at coin base this isn't a short-term of coinbase has signed a seven-year lease on its new Portland office renovations took place the second half of 2018 as of January 10 2019 the Portland coinbase office is now operational so I mean we know that there's been a lot of news about coinbase a lot of lackluster news I guess you would say but coinbase continues to grow in weird ways while other exchanges and I'm gonna talk about it right now is bit tracks let's talk about bit tracks for a minute so–but Rex is another us-based company in I believe Seattle and if you look at what coach X is doing they're number one they are partnering with other countries to enable crypto trading and crypto ownership in those countries by providing their technology to those to some partners that could help and they've also added USD wires and USD base pairs they also have quite a lot of okay let's just be clear coin base has eight coins available and they're the largest crypto exchange from my understanding in the United States if not the world and they have eight coins think about that and four of the coins nobody wants and nobody like they were kind of forced to add those if we look at a exchange like bit tracks you can see what they're doing on their on their Twitter page that's why I pulled this up January 17th we're launching US dollar market for digi byte Paxos has been added to the US fiat markets right and this is all in the last week keep in mind they completed aetherium consonantal hard fork upgrade scheduled for block 7 million 80,000 which we know is coming up they are ready for it they recently listed dragon chain which i have talked about quite a bit on this channel I believe Disney used to be or was an early investor and I don't think they're involved anymore they also are being very transparent like and just this week they rokuro sabar token listing process review process check no listing fees check committed to compliance check so when you hear that coin base is not listing a coin because they're not sure about the regulatory you know atmosphere and what these regulators are gonna allow bid tracks is fully licensed fully regulated in the United States and they continue to list coins if you go to the bit recs website it's better XCOM you can actually click on the markets and see actually their entire what they support what coins they support and it's a lot it's a lot they have four different markets and then we talked about this on a previous video right some of the things that they did in 2018 15 USD markets that's more than double sorry that's a little bit less than double what coinbase currently provides right so a coin base has eight total coins and they just added 15 USD markets not even having to do with just the coin they just added them to the USD markets seven new partnerships we talked about that a little bit fifteen eight new tokens listed right and that's on bit recs and international bit tracks so bid tracks it operates in the US and also internationally thirty events and conferences and too many average live chat response time I know that I've emailed their support team and they have gotten back to me very very quickly if you don't use the live chat they've also had more stable coins that they've added right so all of these things right new listing they listed the dense point earlier in January so keep in mind right we know by Nance is doing a lot we know bid treks is doing a lot and then coin base is opening new offices now granted this was part of their expansion plans that they announced earlier in the year or earlier last year but this is what they're spending their money on and this is where I talk about when we're talking about the economy and all this you know these big business you know coin bass in my opinion it has become very very corporatized very corporate America that's what I call it we're they just fall in line with the rest of Corporate America and potentially even the you know the banking industry and we're not seeing coinbase doing things to gain adoption or to gain people's you know excitement about the exchange and what's happening is now people are starting to move away people who are in the crypto industry are starting to move away from coinbase I know a lot of whenever I talk about coinbase on this channel you guys blow up my comment section so I know what you guys are saying and what's gonna happen is when newer people you know are getting into crypto as you know the crypto industry becomes more adopted widely adopted and understood people who are you know asking their friends like oh like what exchange do you use what should I sign up for so that I can you know join this movement people are not gonna be saying coinbase and then this is what this is gonna do is it's gonna push coin bases leadership down and they're not gonna be the leader in the world that's my opinion I would love to hear your thoughts when I see a coin base opening up an office and this is their big news and then I see bit rex doing all of these tech things behind the scenes and really to drive you know the innovation and adoption and you know pushing this around the world this is where i see an exchange like this really is I feel in it for the bigger picture for the for the larger scale expansion then what coinbase is doing I think that it seems to me that coin base is very very excited a lot of their executives that they become so big and that they have so much I guess you would say pull in the industry but I I don't know whether they're they're blind to what's going on around them or they just don't care but a lot of people are getting fed up with coinbase and they have alternatives and the alternatives are doing and becoming a lot more diverse than what coinbase is doing so let me know your thoughts on that I'd love to hear if you use bit tracks and/or coinbase what are your thoughts on them opening a new office while other companies like bit treks and even finance is adding XRP base pairs like like I said if 2019 is not the year that coinbase lists XRP right I don't think that you know right now they have Bitcoin they have Bitcoin cash like coin bitcoins that do they have said so I don't think they released it Sochi fishing yet they have zero at like they don't really have anything that's so exciting I don't know I don't know I I feel like they have just become very corporatized and then what what's happening with a lot of these other corporations they're they're talking about growth they're talking about oh everything's great everything's great everything's great but when you look at the debt and you look at the stock market it's not and when you look at coin basis platform they're not doing anything really mcc's iting like even if they were to say oh we're gonna be adding three new coins from the top ten that everybody likes I don't even think that would get everybody excited at this point cuz I think people are kind of over it but yeah let me know your thoughts I know that you guys have a lot of thoughts on coinbase and–but tracks but let me know what your thoughts are on bit tracks next up New York economic development nonprofit nYCEDC opens blockchain Center the New York City Economic Development Corporation or nYCEDC has announced it's opening its blockchain Center in Manhattan bloomberg reports January 10 2019 the organization told reporters that the center is part of a partnership with International Trade Organization global blockchain business council and affiliates of the new york-based venture capital fund future perfect ventures located in the Flatiron District of Manhattan the 4,000 square foot Center will reportedly offer blockchain oriented educational services to the general public such as programming classes to lectures for software developers Wow Anna a Reno chief strategy officer at and my CDEC told Bloomberg in a phone interview that the organization is playing the long game in terms of the potential of blockchain tech and looking to keep New York at the forefront of future development a Reno stated quote blockchain is a NASA and technology so there's bound to be uncertainty around this evolution from year to year while we don't know what the future holds we want to make sure we have a seat at the table shaping it and quote Wow so what I'll say is New York is a little bit more progressive in this and thinking ahead right and one of the things that we have issues with right now is that there's not a lot of cryptographers or people who have degrees or a lot of experience in the Crypt you know cryptocurrency blockchain space that's starting to change but big tech hubs and big financial hubs like New York City need to do other things to kind of stay ahead of the game and continue to drive that innovation Grant said keep in mind New York is the only state in the United States that has a bit license or anything like it there is a lot of controversy behind what the bit license is but they do have it and that's for the state the city is reportedly contributed a contributing a one-time initial investment of $100,000 bloomberg reports that the organization will seek to raise further funds via membership fees and through corporate partners which already reportedly include Microsoft Corporation and the International Business Machines Corp according to Bloomberg the city has tentative plans to test the use of blockchain tech this fall the New York City EDC's president and CEO first announced plans to open a blockchain focused resource and education center in the city in May this month a New York State Legislature Assemblyman announced that New York had become the first United States states to create a cryptocurrency task force aimed at studying the regulation use and definition of digital currencies so I mean when I see this when I see the Fed is worried and when I see you know companies becoming so corporate that they're being Bawa I feel that they're being blinded by what is going on I mean ah if I were coinbase I would not have made this such a big thing when they're listing coins that nobody wants or nobody has been requesting or nobody really cares about it seems like coinbase you know is I don't know who these guys are right I don't even know if this is from the coin base office so I'm not even gonna question it but if this is them right keep in mind who Charles Hoskinson is keep in mind who Brad Garlin house is and look at these guys super excited just to open an office when the community has been asking and begging coin base for at least the last 12 months to list more coins and they keep saying to the community yeah so we're gonna list more coins we're gonna list more coins we're definitely we're gonna rapidly list more coins that's what they said and at the end of the year they listed 0x bat token and 0x like uh I think coin bases time is limited for the retail user granted they do have a very easy-to-use platform but anyway I'm gonna stop talking about coin base because I'm just gonna keep ranting about the same thing block chain Center being educated on it this continues like all this news that I'm bringing to you guys is to continue to show you guys blockchain crypto is not going anywhere it can cease to innovate there's a lot of money and infrastructure that's being put into this and that should tell you it's not going anywhere at least any time soon and with a national debt crisis that we have in the United States right now where everybody's walking around thinking everything's perfectly okay and oh I have my you know mortgage payment this and that but when the economic or I should say corporate growth starts to stagnate and level out people are gonna start to lose their jobs companies are gonna start to put the brakes on investing in newer technologies because the the you know the sales landscape or you know taking in money is going to be hurt by that and that's going to create less jobs layoffs massive layoffs I've talked about this a lot a lot of industries are seeing layoffs a lot of industries are seeing quiet layoffs where it's not being publicized and people aren't talking about it and what that creates is it creates a solution that everything is okay in the financial world and it's not you look at these numbers on this chart that I have up here on US debt clock org this should scare every single person in the United States from a standpoint of financial stability this is not sustainable the Fed Chairman even said this is not sustainable and keep in mind what happened just a few weeks ago when the stock market went down by about 10 percent the US Treasury secretary Muchin called the six largest bank CEOs and asked them if everything's okay all of these things happening at the same time you know I was talking to my friend how this the other day and we were saying we are on the cusp we are like within reaching distance to a financial crisis that I don't think the world is ready to to understand but we also know based on video that I did just a few days ago and the news that Russia is planning to invest 10 billion dollars in Bitcoin within the next month because countries are getting fed up with the US and with the US sanctions and with all of the you know dictating to the rest of the world how they need to do things and how do they need to act and how they need to operate when there's newer technologies that are innovating ahead of the US ability to do this and what the u.s. is not addressing it and what's going to happen eventually is the u.s. is going to lose their credibility and their power to dictate to the world what they do and when that happens the US dollar will become devalued and then this will never be paid back and then everybody is going to be in a very serious serious situation and that's where people are gonna start moving to cryptocurrencies at least that's my opinion I'd love to hear your thoughts on it I am fascinated that by this interview with the Fed Chairman I watched this this is just the clip about specifically about the debt but it's a full 45-minute interview when I watched this interview I was it's a three minute video I was literally blown away not by the contents of what he was saying but the the fact that he was actually saying it on the record on video in front of an audience that he knew was gonna get out there not that he's scared to do it but that he actually said it and nobody is paying attention to this let me not say nobody the majority of America is not paying attention to this and the majority of American needs to because the majority of America is in this debt so let me know your thoughts hopefully you guys are staying awake in all of this news and if you made it to this point in the video let me know in the comments below that you made it to the end of the video and I would love to hear your thoughts there is so much happening in the crypto blockchain and Finance worlds right now you know we started with Bitcoin ten years ago Bitcoin was the first cryptocurrency it was created because of what happened in 2008-2009 with the financial crisis that was created by the banks and now the banks are stronger more powerful and richer than they were prior to the crisis and everybody's just going in along in their normal lives like everything's ok I am as well I mean don't get me wrong I'm still living my life but I am very very aware of what is going on and what could happen almost any day of the week now and I see friends family and people that I meet who are talking about what their two-year three-year plan is and I'm looking at them like you may not even have a one-year plan if if we have all this happening together right we have ballooning national debt we have the Fed Chairman who's saying it's good we're gonna have to face this at some point and we have a stock market that has been on a ten-year bull run and is now starting to you know stagnate and go down and this is not even talking about the political spectrum of this whole thing so I don't know let me know your thoughts I hope you guys enjoyed this video there is so much in the news today I think that I am going to stop talking about coinbase on my video so let me know what you guys want but I like seeing this as kind of like a slap in the face to everybody who is in the crypto community and has been asking and being patient with coinbase and now they're opening up new offices as they're like wow look at what we're doing right I don't think anybody really cares like I'm happy that they're expanding but where are the other coins so maybe they're just making so much money they don't really care about adding other coins that could be the reason – I don't know I think coinbase has a lot of potential I think the people who work there are very very smart people I'm just not sure as to their strategy and I wish they were a little bit more transparent with their strategy that way we all didn't have to speculate and wonder so anyway I'm going to leave it there we are at a 123 billion dollars in total market cap Bitcoin did have a flash crash yesterday we're not sure exactly why could just because some sell offs or some movements around in the market but let me know your thoughts in the comments below thanks for watching thanks for subscribing and I'll talk to you on the next video have a group

20 thoughts on “Fed Chairman 'Very Worried'; Coinbase & Bittrex; NYC Blockchain Center”

  1. Of course, we're worried! Coinbase publishes fake info everywhere and doesn't display great coin

  2. What else Coinbase can do to attract attention but to pay money for PR on social media. Everybody know that this exchange is not safe. Personally i can't recommend Coinbase coz there are too many cases of stolen money and financial fraud from their side.

  3. coinbase is really overvalued company. it is claimed to worth $8 billions but personally I do not understand how company can be valued so high but still fire employees due to lack of salaries…

  4. Is there anyone who worries that coinbase still exists after all their scams? insider trading? pumps & dumps?

  5. What else to do when everything`s rolling downhill? Hype itself by appearing in the news. Coinbase death agony 😀

  6. dirty coinbase making poor self-promotion being mentioned in the news along with some dominant names. no wonder, this lame exchange is about to die.

  7. another gr8 video
    if the BASE fails add another 8and half billion 2 that dept clock
    $60 thousand each American citizen

  8. News about Coinbase everywhere. Coinbase pays their dirty money everyone just to get more presence on the Internet.

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