Chinese State Media Indicates China Is NOT Banning Crypto Trading

Automatic TRANSCRIPT

What's going on guys. It is thursday. June third and today we are talking about why chinese state media is indicating that china has not in fact. Banned crypto. i however let's start with a quick update on ransomware. Since i dropped that episode. Yesterday i've had numerous people. Send me articles and media accounts blaming the ransomware epidemic. On bitcoin or crypto in general. Npr called it the oxygen behind the surge so unfortunately my very easy prediction of ransomware. Being next bitcoin seems coming to pass. But i also wanted to share an interesting take. I saw from a couple of folks that was really well put by andy edstrom author of why bitcoin he tweeted bill gates becomes multi-billionaire by shipping insecure software. Us government pays hackers for zero day exploits and keeps them instead of telling software companies to patch them. Equifax loses one hundred million plus identities in stock all time high. What will solve this other than ransomware. Basically the idea that. I think that indies going for is that ransomware is the natural market byproduct of insecure software by the same token however it creates the financial incentive for that software to be in a world of ransomware. The cost of buying or building insecure software. Go way up. Which presumably give the advantage to less explainable software. Yesterday we also talked about the impact that ensures playing this potentially making companies more willing to pay ransoms because they know they'll be covered however insurance companies seem to be making moves so that might not be the case or at least it won't be that easy.

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