18 Burst results for "Chris Crypto"
"chris crypto" Discussed on Bloomberg Radio New York
"The upcoming episode of Bloomberg Wealth. Paulson tells David Rubenstein why he doesn't like spam axe and why crypto is worthless. It is today's Bloomberg Big Take I don't think it's quite a bubble, but it's clearly, uh, elements shows elements of a frothy market. There's just too much liquidity. So I would say the SPAC market is overvalued that people that invest Inspects in general on average will be a losing proposition. Okay. What about Cryptocurrencies? Are you a believer in Cryptocurrencies? No. I'm not a believer in Cryptocurrencies. And I would say that Cryptocurrencies are a bubble. And I would describe Cryptocurrencies as a limited supply of nothing. So to the extent There's more demand than the limited supply of the price would go up. But to the extent the demand false and the price will go down, there's no intrinsic value. To any of the crypto currencies. Except that there's a limited amount based on what you've just said. Why would you not put a big short of some type on Cryptocurrencies? Or maybe you have but you think that's a good short? Well, um you know what we look for the subprime. The reason why we shorted the sub private size because it was a symmetrical shorting a bond, the par that has a limited duration that trades in 1% spread of Treasurys. He can't lose more. And the spread in the duration. Yet if it defaults, you can make the par amount and crypto. There's this unlimited downside. So even though I could be right over the long term In the short term is the case. A Bitcoin, you know went from 5000 to 45,000. You know, I would Wiped out on the short side, so it's just too volatile too short. So if somebody came to you and said, John, I just got $100,000. What should I do with 100,000? What would you tell them? I always say the best investment for an individual average individual is to buy their own home. So if you took that 100,000 for 10% down, get a 900,000 mortgage or whatever you can buy a home for a million dollars. And, yeah, it's just reported that home Prices were up 20% in the last month. So if you bought a home for Million dollars with 100,000 down the home was up 20%. That's 200,000 on 100,000 investment. You'd be up 200% and over time. Essentially, that's what's going to happen. The longer you wait More of the house is going to appreciate and the greater return you'll have on your equity investments. So I think the single best investment investment for anyone with that type of money would be to buy. Their own house or apartment. And what do you think? For example? You would tell people not to invest in there or something you'd say. Do not ever invest in X wires. E. Well, now I'll have a lot of people that disagree with this, But I would think you know you should invest in Cryptocurrencies. Ultimately, I think Chris crypto currencies regardless of where they're training today, whether they go up from here or down will eventually Proved to be worthless. So there is no value to them. It's just a question of supply and demand. And what's the exuberance? Where's offer? Liquidity dries up? These will go to zero, so I wouldn't recommend anyone invest in Cryptocurrency. And that voice of course, famed hedge fund manager John Paulson speaker David Rubenstein, You can watch the entire interview Tuesday. Tomorrow at nine p.m. Wall Street time on Bloomberg Wealth with David Rubenstein exclusively on Bloomberg TV. Keep in mind day, uh, Paulson's record in the last few years. Since the greatest trade where he made that bet on home mortgages back just before the financial crisis. It's been a bit mixed. He turned his hedge fund firm into a family office last year after assets dropped to about nine billion in 2019 from a peak of 38 billion in 2011, and he found himself Uh, managing mostly his own money, and he talked to about, uh, the actual business of managing money. What he likes what he doesn't. So I highly recommend you check out that interview again. That's Tuesday, nine PM Wall Street time. Bloomberg WEALTH with David Rubenstein talking with John Paulson exclusively on Bloomberg TV. In the meantime, John Paulson maybe not too keen on crypto. I certainly heard that from him, But we did mention Charlie and I just briefly a story in the Bloomberg among our most read that tennis superstar Naomi Osaka, joining the A listers dabbling in crypto. Apparently, the growing rage around Cryptocurrencies has captured the attention of the defending U. S Open champion has been exploring where she can invest in the space. Part of her interest was brought on by all the noise around does coin the digital token that became famous for being the first? Mm coin to start out as a joke? Here's a little bit of a quote. I was actually just talking with my agent about Cryptocurrencies, she said in an interview last week. This is a quote. I know that online. Everything is getting bigger. I remember reading about does coin. There's going to be something new and interesting. That's going to pop up. Massocca said. The continuous stream of conversations around Bitcoin especially on our Twitter feeds doctor interest even before her agent approached her with the idea to invest. You can read more of that story that too you can find at Bloomberg dot com. Coming up Dave Wilson. He watches the markets for us. He's going to be back with his chart of the day and his song of the day and then we'll cut you down to the closing bell on this Monday. I'm Carol Master. This is Bloomberg Business Week, and this is Bloomberg Radio. No, no, no. Yeah. Mm. Bob Bob Away..
"chris crypto" Discussed on This Old Marketing
"And you talk about mastercard. And i'm like why did that mass. Why did mastercard do that will. Apparently big venture capitalist bill. Ackman is one of the richest people in the world. Knows the ceo of mastercard and sent a text and said you have to stop. Doing you have to stop this. So you have powerful people. Part of powerful institution sending texts and making the the a livelihood of a ton of people irrelevant. That's what i don't laugh. And that's why of course. I'm not going to go into my whole bitcoin argument. I'm i'm just saying that. That's why i want to see other currencies out there because the big institutions in all its forms out there have way too much control over the content entrepreneur and we need to look at all available avenues so that we're diversified and not beholden to. What a mastercard chooses to do. So i think you're right. I didn't think about it that way to start with. Because i'm thinking this is facebook and this is twitter. This is only fans or patriotic. Or whatever right good intentions or not but it's really all these big that have all this power and can change the lives of one hundred million people in one instance. Yeah well and it's i mean you know so. Two quick points one is fun. Fact on so porn hub premium which is actually premium service and again. I'm it's only what i hear. I don't i don't actually have. We don't have to say as we all know. Okay you're a subscriber. Go ahead right. They only accept cryptocurrency. Now is that right. that's right. Yeah that's it so that's the way you can the only way you can buy. A premium. subscription at. The moment is Through bitcoin and so interesting fun fact second and we talked a little bit about this. Maybe six months ago on the show which is just exactly this the institution and the use of regulation as a As a competition killer one of the things that facebook you know. I it you know. We often think these big institutions like facebook and apple. And you know the big google that they're all that they're all going no regulation no regulation no regulation. That's not true. They just want clear. A lot of them are doing is lobby yet. They're lobbying for regulation and of course the way they spin that they say. Oh we're of course we want to be regulated. This is the way we wanna be regulated. This is this is what the industry needs. We're experts in the industry and we think the regulation needs to look like this. You need to peel back those ideas and go. Who does this affect. Most and in most cases what you'll find is it helps them and actually hurts. Startup competition from actually becoming more More competitive is. I get this all the time. I talked to a this again outside. The point a little bit but i talked to a financial adviser. This is a few months ago and was talking about you know. Investing in chris crypto currency. You can't do it because there's gonna there's no regulation. There's going to be regulation. That industry doesn't want regulation. I'm like that's not true. They absolutely want to know how. How the rules on the plainfield especially in the united states because once once a lot of these bigger institutions know the rules then they can pass compliance then they can go ahead and invest because a lot of these big institutions can't because they don't know it won't pats compliance and they can't do anything about it so we all just want to know okay..
"chris crypto" Discussed on Heartland Newsfeed Radio Network
"Zero in the studio tonight. It's myself the reverend captain kick ass and chris and bonnie so at the end of the previous segment i had mentioned marijuana and of course we had talked a little bit about cryptocurrency. Of course. The crypto sixes. Well it's all based on some crypto currency exchanges in that type of thing and so this is from bitcoin dot com a california at cannabis. People's remedy starts accepting cryptocurrencies as payment. Can i get a hell. Yeah hell yeah all right thanks. I was wondering like for a second like is that a is that a trick. You can't say hello on the air. Just did yeah. Yeah i'm walking a thin line here with the dumps himself all the time. I don't dump myself all the time you've ever seen him dumped dumped myself have have you. I was reading air. I was. I was reading something. And i don't remember what the word is like shift or city or city and i pronounced it like sean connery would pronounce it. Oh yeah i had. It happens to the best of us. I think i did it once in like five years ago. This show so. I can't can't criticize too much. Yeah you know and it was like. There are times when i get We'll say passionate about a subject. And i get to speak in you know. Maybe i'm talking loudly in that kind of thing but this was not that it was just reading a couple of words ahead and the thing that you're trying to get out and you know you just make a mistake so yeah and and now try doing a radio show and podcast at the same time and then switch between the two one concur. When you can't yeah. I even more than i did that i used to do that with the what do you call it. The freer talk live the after shows where i could cuss freely and i did a couple of those and then the next time i did the radio show. I think ian had dumped me. Yeah i got comfortable in this environment. If i if i went on your show i could probably have that degree of separation. Because i'm in a different environ right. I mean a different studio different microphone in front of my face. That kind of thing. I could probably differentiate that. But if i'm in the same studio and on program i can cuss and the other one i can't. I'm going to get them confused. Because i get comfortable in that environment and so i try not to do that. People's remedy this from bitcoin dot com. A growing chain of cannabis stores has started accepting crypto currencies as a payment method allowing their customers to use them as a fast easy way of getting their products while taking advantage of the traits crypto currencies. Bring to the table unlike other stores. People's remedy assumes the symbiotic relationship between cannabis in crypto as a commitment wanting to build a circular economy by paying its employees with crypto assets so stunningly accepting cryptocurrency is paying. Its employees with crypto. Mitra chris crypto assets and different different crypto currencies. People's a remedy california-based cannabis chain. We've seen all this already. They're being redundant with four stores. California is still growing. People's remedy products are designed to help those with medical ailments. So they're a medical marijuana chain that can be treated with cannabis offering the best strains and compounds available however is the interest in new technologies that sense the company apart from other similar stores the company trained each and every one of its employees and the use of crypto currencies. Even making its own manual for this purpose nice. Activating all of its twenty two cash register terminals to accept bitcoin cash dash light klein. Bitcoin vision and bitcoin core however they really liked the bitcoin cash network due to its low fees allowing customers to purchase products. Like a four dollar pre roll without worrying about paying more than the products price on transaction fees. Well for dollar pre roll enter. Does i do miss that. If there's anything that. I miss about seattle. It's that i lived in a neighborhood where there is a legal weed store literally three blocks down the road and not only did they have the regular mound but they had all sorts of different. They had edibles. They had drinkable stuff that you can mix and stuff they had. I mean it was amazing. I didn't even know some of the stuff that i could do that with. Marijuana you know stunt people doing marijuana they had like the wakened bake club so if you came in early because they'd open at like nine. Am on saturday and sunday. They had like the way convey the data they had coffee. You know the little carafes of coffee and that kind of things. You come in coffee flavored. We'd like we're talking about on. She talk live mill. They didn't have that flavored cough. No they just had coffee so like it's called the wakened day clubs you get up early and come get a discount on your marijuana and get a cup of coffee while you're in there okay. So it's not weed infused coffee. No no need to step up their game. Well they did have something that resembled weed infused creamer. So if you wanted to cream in your coffee you could do that and get your buzz on. Well that does sound like weed weed. Infused coffee just that one but like you couldn't mix it in the store. You can get your cup of coffee. You could buy the thing but like you couldn't put them together while you're in the store that makes sense because of the laws about like being in a store doing it. At any rate john williams tech manager of people's remedy stated that smart people use technology to make their lives better and people's remedy does tack better than any cannabis business. I can't believe this.
"chris crypto" Discussed on Liberty Talk FM
"Right. People's remedy this from Bitcoin dot com anyway, a growing chain of cannabis stores has started accepting crypto currencies as a payment method. Allowing their customers to use them as a fast, easy way of getting their products while taking advantage of the traits Cryptocurrencies bring to the table. Unlike other stories, people's remedy assumes this symbiotic relationship between cannabis and crypto as a commitment wanting to build a circular economy by paying its employees with crypto assets, So it's not only accepting crypto currency. It's paying its employees with Krypton assets. Whether Chris Crypto assets descript, um different crypto currencies. People's remedy. It's a California based cannabis chain. We've sent all this already there being redundant. With four stories of California's still growing people's remedy products are designed to help those with medical ailments. So they're AH medical marijuana chain. That can be treated with cannabis, offering the best strains and compounds available, however. Is the interest in new technologies that sense the company apart from other similar stores. The company trained each and every one of its employees in the use of crypto currencies. Even making its own manual for this purpose. Nice activating all of its 22 cash register terminals to accept Bitcoin Cash Dash light coin. Bitcoins to Toshi Vision and Bitcoin core..
"chris crypto" Discussed on Bloomberg Radio New York
"Teammates get full benefits, full foreign cave match and everything. For the people waste ratify your health care benefits by compensation levels so people under 50,000 haven't had achieved had their their premium flak about to turn myself a jury, but their premium Dropping half in 2011, and it's never gone up. Same price, even though there's been a 6% cost to carry, and we've done that beginning more more people well and be able to afford it. So we reinvest that back in the people, So we take great pride in that, so we employ a very diverse population from top to bottom. We hire a lot of people. We have specialized programs like Pathways program with 10,000 people we hired in from Modern communities, veterans women, We do a lot with schools and recruiting. They're very broad. So that's one thing we know we controls who we hired. Then we have our vendors. We require them to pay $15. And we've been moving all them up to do that, because we think they should be able to do it and that Z what we say. And you go toe. You know what we do outside and that's more we're talking about. So after last year on the racial, social justice issues after the George Floyd killing any other killings, and what happened you we basically made a billion dollar commitment with three things We denounce racism. Second way, gave a funny foundational grant to the Smithsonian Institute to start a courageous conversation platform. Lonnie Bunch at the Smithsonian Across African Americans, They've Americans, Hispanics in Asian Americans across all their platforms. Then we put a billion dollar program together along the pillars of jobs. Health, small business, too small business, entrepreneurship in housing, and we have now deployed about 350 million of that. As we move through the year that money went to the minority of pies. Institutions will be done about 14 of those to the things called the CDF eyes. We kept our levels up. That's not even part of the billion dollars that's above. We have 1.7 billion with them. We put money in the 21 colleges and community colleges to help hbcu of colleges for your people helping to get jobs that big companies like ours and then communiqu ologists skill set not different worship center with In Atlanta for the Black has yet to the Lions and Morehouse Spelman, and then we did 25 million Mass to live in a community centers and to help keep people safe. Then we did 61 private equity funds coming up from other market presents bring into us and that's all done. Yeah, And so now, then we have that Asian American people of Asian descent Pacific Island descent. Issues come up and we said Look, we've got to dedicate even more and expect span the dollar malice program and also make it clear that we're coming. Those colleagues and teammates in society and we've done that for billionaire quarter. It sounds like you've got your testimony pretty well written for you already just assumes you got the invitation. I want to ask one question, Chris Crypto because it come up quite a bit. I mean, you and I've talked before about Bitcoin. You always say it's not Bitcoin. It's Blockchain. It's distributed Ledger. Same time we had the chairman of the Fed talk to us just this week and say, you know, it's not Cryptocurrency a critical access assets that you speculate about. How do you see the dynamic from Bitcoin on the one hand to crypto currency of any sort of the other, perhaps the central bank digital currency. Where is this going? Well, I think they're multiple facets obviously is and that zit people investing in your clients are asking is came Lee Investments acid and you put it in our accounts and look at it. That's those are issues we have to consider. And you're seeing some of our colleagues start to do a formal custody and you've seen those announcements and things like that which enable us to do some things. So that that's investment side and that's for large institutions and affluent investors and people looking at it. Then you have the transactional side in the question Moving money digitally is not knew more than I think. Probably 55 60% of our consumer money move digitally this last quarter in on the commercial side is probably 97% of all movies digitally, very little paper. Movement. So the idea of moving money digitally think about Zell and volumes going through that now the number uses not only our company, but in the industry total. That's not a new concept. Then the question is anonymous. CURRENCY your currency That doesn't have attribution That's a different question. And I think you for chair pal and secretary of Treasuries in the past reflect on that. That's a different question. A central point Central bank digital currency Yeah, it's just way Are you in any way you already have that We have a bunch of accounts for them. They're ones and zeros. We know where they are. There's a huge amount of money represented by so the idea of making available more more granular. I think we'll see what they decide to do and will react to, But the reality is we make Money movement. Digitally is the dominant way Money moves in our franchise. Today it will be in the future, Brian just one quick one here at the end, if you can. Was it hard to decide to sign under that level about the Georgia voting law because you signed with a lot of other companies. Protesting what's going on? Well, we've made a statement a few weeks ago and were approached to sign along with all those other companies about the basic fundamental principle of voting and right to vote. Yeah. Yeah. David is you watch this play out? You know, I.
"chris crypto" Discussed on KDWN 720AM
"Trade bottleneck born of the covert 19 outbreak has US businesses waiting for shipments from Asia while off the coast of California. Dozens of container ships have been anchored, unable to unload cargo. The problems began when Americans stayed home and dramatically changed buying habits instead of clothes. We We're just Elektronik Fitness equipment home improvement. On US cos flooded those Asian factories with orders that led to a chain reaction of congestion and snags at ports and freight hubs across the country. The result. Shipments that once took weeks now can take Several months. Fed Reserve chair Jerome Powell said on Monday that the US public needs to understand the risks behind Bitcoin and other crypto currencies even as the central bank itself studies the potential costs and benefits of a digital dollar of Powell said the Fed is conducting research through an in house technology lab and collaborating with M I T to study if the public wants or needs a digital currency, but the risk to individuals That is significant, according to pal. Or work on CBD sees is not primarily motivated, Aided by the appearance on the scene of crypto currencies and stable coins, it really is fundamentally technology has made it possible for us to offer a new form of trusted money and that sovereign anchor that has been so important for economic development for a very long time. And we're looking carefully at whether to do that. So turning your question crypto assets which we call him, Chris Crypto assets, You know, they're they're highly volatile. See Bitcoin. And therefore not really useful is a store of value and they're not backed by anything. They're more of an asset for speculation, so they're also not particularly in use as a means of payment. It's more a speculative asset that Z essentially a substitute for gold rather than for the dollar. And I think with crypto assets of the Publicly still understand the risks. The principal thing is there's the volatility is also the outsized energy requirements requirement for for mining on the fact that they're not backed by anything which I which I mentioned. Turning to stable coins so to the extent of stable corners back by sovereign currencies of leading nations. That's certainly an improvement over crypto assets, I would say, but nonetheless. Where is the credibility Come from? It comes from that sovereign currency that is the backstop. You know, the thing is existing sovereign currencies are issued with the benefit of the public in mind that potentially fast and wide adoption of a global stable coin. Potentially a global currency, governed only by the incentives or private company is something that will deserve and will receive. Highest level of regulatory expectations. Um so and his regulation where it needs to be on global stable coins yet it's not, but we're making progress. Nonetheless, stable coins may have a role to play with appropriate regulation, but that role will not be to form the basis of a new global monetary system. Um, private, stable coins. They're not gonna be inappropriate Substitute for a sound monetary system based in central bank money, Bitcoin has soared nearly tenfold and value compared with a year ago, hovering around 57,000 on Monday. Meanwhile, Tesla has said that it was buying 1.5 billion worth of Bitcoin and with soon start accepting Bitcoin payments of four cars. We're behind the scenes. Look at a FN Go to a FN now dot com Reach out to me across the board on Social Media, Twitter or Facebook, Matt Ray talk. Use the hashtag a fn. Well, if you're a hunter and outdoorsman, a stargazer, you know your vision changes drastically at night, right? So imagine thermal image ng and the ability to see clearly up to 1000 yards at night. That ability is a reality with a GM global vision. A GM global vision offers high quality thermal and night vision optics. You get crisp and clear images there. WiFi compatible, recordable and store herbal, so you'll be able to.
Fed's Powell Says Public Should Understand Risks of Bitcoin
"Fed Reserve chair Jerome Powell said on Monday that the US public needs to understand the risks behind Bitcoin and other crypto currencies even as the central bank itself studies the potential costs and benefits of a digital dollar of Powell said the Fed is conducting research through an in house technology lab and collaborating with M I T to study if the public wants or needs a digital currency, but the risk to individuals That is significant, according to pal. Or work on CBD sees is not primarily motivated, Aided by the appearance on the scene of crypto currencies and stable coins, it really is fundamentally technology has made it possible for us to offer a new form of trusted money and that sovereign anchor that has been so important for economic development for a very long time. And we're looking carefully at whether to do that. So turning your question crypto assets which we call him, Chris Crypto assets, You know, they're they're highly volatile. See Bitcoin. And therefore not really useful is a store of value and they're not backed by anything. They're more of an asset for speculation, so they're also not particularly in use as a means of payment. It's more a speculative asset that Z essentially a substitute for gold rather than for the dollar. And I think with crypto assets of the Publicly still understand the risks. The principal thing is there's the volatility is also the outsized energy requirements requirement for for mining on the fact that they're not backed by anything which I which I mentioned. Turning to stable coins so to the extent of stable corners back by sovereign currencies of leading nations. That's certainly an improvement over crypto assets, I would say, but nonetheless. Where is the credibility Come from? It comes from that sovereign currency that is the backstop. You know, the thing is existing sovereign currencies are issued with the benefit of the public in mind that potentially fast and wide adoption of a global stable coin. Potentially a global currency, governed only by the incentives or private company is something that will deserve and will receive. Highest level of regulatory expectations. Um so and his regulation where it needs to be on global stable coins yet it's not, but we're making progress. Nonetheless, stable coins may have a role to play with appropriate regulation, but that role will not be to form the basis of a new global monetary system. Um, private, stable coins. They're not gonna be inappropriate Substitute for a sound monetary system based in central bank money, Bitcoin has soared nearly tenfold and value compared with a year ago, hovering around 57,000 on Monday. Meanwhile, Tesla has said that it was buying 1.5 billion worth of Bitcoin and with soon start accepting Bitcoin payments of four cars.
"chris crypto" Discussed on Talk Radio 1190 KFXR
"And good Tuesday morning Americans that first news continues. It's the 23rd day of March. FN markets this morning in the Asian stock markets declined Tuesday after Wall Street rose on gains for attack and Assurance by the Fed of support for an economic recovery. SHANGHAI Tokyo Hong Kong, Sydney all retreated. Investors air wavering between optimism that Corona virus vaccines might allow business and travel to return to normal and fears of higher inflation after struggling economies were flooded with credit and Government spending games and big tech led stocks broadly higher on Wall Street yesterday as traders welcome to some easing in long term bond yields, banks lagged the S and P 500 Rose 5000.7%, while the tech heavy NASDAQ climbed one point to the Amazon, Apple and Microsoft made solid gains. Kansas City Southern jumped 11.1% after a Canadian railroad announced it would buy the company for 25 billion. More on that. In a moment. The yield on the 10 year fell to 1.69 after trading his highs 1.74 last week rise in steady bond yields over the past month has really been luring investors away from The high flying tech stocks. It was a year ago that the terrifying free fall for the market suddenly ended, ushering in one of its greatest runs. After plunging nearly 34%, the S and P 500 hit bottom on March 23rd of 2020. Even though the Corona virus pandemic worsened In the ensuing month, massive support from the Fed Reserve in Congress set a limit for how far stock prices would fall. As time passed. Corona virus vaccines helped stocks shoot even higher. So did legions of first time investors. It all led to a 75% surge for the S and P, as well as worries that Prices went too far too fast. Sales of previously occupied homes slowed last month is rising prices in a dearth of homes for sale kept some would be buyers on the sidelines, the National Association of Realtors said Monday. Existing sales in February fell 6.6% Sales were up 9.1% from February last year. Home prices continued to climb, driven by a sales of higher end homes of the report showed that U S median home price was 313,000 in February, up 15.8% from a year prior. At the end of February, the inventory of unsold homes stood at just one point, Oh three million for sale That was down 29, a half percent from a year earlier. Democrats and Republicans clashing Monday over the effort to make Washington D C. The 51st state congresswoman Eleanor Holmes Norton argues her constituents pay taxes but have no voice at the table. This, as some Republicans argue it would be unconstitutional. Congress can no longer allow D C residents to be sidelined in the Democratic progress process. Watching. As Congress votes on that is that affect the nation? We no say of their own all watching. It's kind of his votes to overturn the laws of the duly elected D. C council with no se of their own. Today's hearing is all about creating to you. Democratic U S Senate seat D. C. Statehood is a key part of the radical leftist agenda to reshape America along with the Green New Deal. The funding the police I'm packing. The U. S. Supreme Court and Democrats have intensified their push for D C statehood since they took control of the Senate. The House would likely pass the legislation, which it did in the last Congress. But it has little chance of clearing the evenly divided Senate. Given the 60 vote hurdle needed to overcome a filibuster. Many GOP lawmakers have expressed opposition a D. C statehood given that Any congressional representation would almost certainly be Democratic. Trade. Bottleneck born of the covert outbreak has US businesses waiting for shipments from Asia while off the coast of California. Dozens of container ships have been anchored, unable to unload their cargo and the problems began. When we stayed home and changed our buying habits instead of clothes. We were buying electronic fitness equipment, home improvement products. US Cos. Flooded Asian factories with the orders and Led to a chain reaction of congestion and snags at ports and freight hubs across the country. Is the goods arrived. Shipments at once took weeks can now take Several months. Well. Fed chair Jerome Powell says the U. S public needs to understand the risks behind Bitcoin and crypto currencies even as the central bank itself studies the potential costs and benefits of a digital dollar. Powell said the Fed is conducting research through an in House tech lab and is also collaborating with M I T to study if the public wants or needs a digital currency. But the risk is greater to individuals. Or work on CBD sees is not primarily motivated, Aided by the appearance on the scene of crypto currencies and stable coins, it really is fundamentally technology has made it possible for us to offer a new form of trusted money and that sovereign anchor that has been so important for economic development for a very long time. And we're looking carefully at whether to do that. So turning your question crypto assets which we call him, Chris Crypto assets, You know, they're they're highly volatile. See Bitcoin. And therefore not really useful as a store of value, and they're not backed by anything. They're more of an asset for speculation, so they're also not particularly in use as a means of payment. It's more a speculative asset that Z essentially a substitute for gold rather than for the dollar. And I think with crypto essence of the Public needs don't understand the risks. The principal thing is there's the volatility is also the outsized energy requirements requirement for for mining on the fact that they're not backed by anything which I which I mentioned. Turning to stable coins, so to the extent of stable corners back by sovereign currencies of leading nations, that's improvement over crypto assets, I would say, but nonetheless. Where is the credibility Come from? It comes from that sovereign currency that is the backstop. The thing is existing sovereign currencies or issued with the benefit of the public in mind, the potentially fast and wide adoption of a global stable coin, potentially a global currency governed on Lee by the incentives of a private company. Is something that will deserve and will receive the highest level of regulatory expectations. Um so and his regulation where it needs to be on global stable coins yet it's not, but we're making progress. Nonetheless, stable coins may have a role to play with appropriate regulation, but that role will not be to form the basis of a new global monetary system. Um private, stable coins. They're not going to be inappropriate substitute for a sound monetary system based in central bank money. Bitcoin has soared nearly tenfold in value compared to a year ago, hovering around 57,000 on Monday. Tesla, meanwhile, said last month it was buying $1.5 billion of Bitcoin and would soon accept Bitcoin payments. Affords vehicles. Wary. Regulators haven't approved a major railroad merger since the nineties. But industry analysts say Canadian Pacific's.
"chris crypto" Discussed on JKNews
"Thank you for my face. Let's say i have an. I have bitcoin right. And then it's twenty eighteen and they They forked bitcoin cash. I didn't participate in that. They just send me. Bitcoin cash. I get on that. Yes you get taxed on that. That's so lame only when you sell it okay okay. Coin cash is a little bit. That one's a bit of interesting. A fork is kind of different than a traditional airdrop. So you've received a coin that maybe now has no basis because even technically pay for your granted a coin so now when you sell that. Bitcoin cash now it's out. I think it's fourteen hundred wherever it's at and you sell it. Now you have the gain from zero to fourteen hundred so you're gonna pay tax on capital game while so if you go from coin to coin you don't have to pay so that's another good question. So here's probably the best analogy. Let's say you buy a nineteen sixty eight ford mustang driving a ford mustang and some guy says hey i would love to trade you my lamborghini for your ford mustang right. The let's say paid fifty grandpa ford mustang this lamborghinis now or one hundred thousand dollars. The guy just loves the ford mustang. So much is willing to do the trade so effectively when you're when you're making that traitor cnet swap. There is a gain in what you've made even if didn't really physically receive the cash in pocket. Yeah so if you do like they have have different ways of doing it like shapeshifts for example or if you just doing it in exchange going from theory to say s an ex as an actor another coin or something like that so i have three tags on that you technically where supposed to report the game of that pay the tax on it but now your coins is writing based on that we are so far more. That's why it's kind of fucked up because you know why you like. Let's say in my situation. Let's say i i quote unquote lost a quarter mil right got only four three grand maximum to my personal income loss throughout the year so like indefinitely three grand. If i'd never go back into the chris crypto space every year. I get to write off three grant but if i make any gains i fucking get taxed on that what the hell but it's not double right so like up until two hundred fifty thousand. I don't pay taxes. If if that was already taxed. So i get to get make gains up until that point withdrawal them in already. I'm fine but if i get over that then yeah then you pay the tax on it. So like for example. Let's say one year. I make half a mil. I'm only tax on two hundred fifty thousand but you know it's like what sucks is every year you can't balance it out because it's all true to the desert check out of the sent factor so in the fact check way so technically. There's a couple of moving pieces to it. So when you have a capital gain either long term or short term. You pay the tax on that capital gain. Now there's a capital loss that's built in. Let's say for example you a quarter million of losses in one year now. Joe is absolutely correct. The only mountain could actually show reflect on the tax turn is three grand. The remaining two hundred and forty seven thousand of that long term capital gain or cap loss gets carried over so every eighty years hypothetically any other traits so if you treat in the next year and you make let's say eighty grand a profit that gets wiped off against that long-term cats who are to forty seven to forty soccer so there is ways to kind of eat it up. The challenge with crypto is because a lot of folks typically have more activity in it than in their traditional like investment and. Things are a little bit muddy now if people like trading african of robinhood and all that stuff there's a live different ways we get. Set yourself up if you're a little bit more of an active investor. Let's say day trader swing trade or technical trader. We're now you can use what we call professional trader status and number one if you elect that electric call mark to market. You can take them limit a loss as as opposed to three grand. Need that thing. How do you as a professional trader. So you have to. You have to have a trade on a daily basis and you have to prove that you're doing on a regular base needs to be a dollar a matter you have to prove that you're actually actively in the market now if you bought bitcoin and software like six months. That's the only trade. you're just a casual investor. Parnell fuel cars. There's.
"chris crypto" Discussed on Unconfirmed: Insights and Analysis From the Top Minds in Crypto
"And then they're like so backward here and you know whatever but yeah it was just really interesting reading some of these cultural differences and also the propensity toward gambling in asian cultures. So even though we've been talking about asia just in these generalities obviously it is a very diverse plays and reading a report. I was really struck by the differences in regulation across the region. So do you wanna just kind of give us an update about about that. Yeah absolutely so. I think generally regulation of cautious. So you know the first to regulate was so if you look at like who tried to ban bitcoin. So in two thousand and thirteen thailand. Bitcoin china bitcoin. Two thousand fourteen vietnam two thousand seventeen korea two thousand eighteen so now regulations soften but has been a little bit sorry band bitcoin at twenty eight team so yes so basically. In january two thousand eighteen the ministry of justice ban bitcoin trading and so then the investigated six banks that basically were service providers to crypto changes. there was such big backlash on this that they had to retract their their ban and so they said they soften it and they said okay. Twenty twenty two. There'll be a twenty percent profit tax on crypto trading. So i think you know especially this is probably really important for people to realize that the people do have a voice like in india when they tried to ban basically banking for crypto enterprises as well like the supreme court eventually overturned the reserve bank of india statement basically because the lobbying of crypto enterprises and the people there so people aren't powerless to just accept what regulators are saying. They are responding by go. There's are also understanding that they have to keep up with the times so and you know i think example of that is japan so japan was the first to regulate in two thousand and seventeen it will. Japan has been half the most in the world. So you had gawks. You had coin check. They've been hacked almost a million bitcoin in the past few years Which is a tremendous amount. And despite that you see a lot of regulation still coming out and you'll japanese support is pretty strong. Even amongst banks who tend to be sitting on the sidelines and investors a major investors in these crypto exchanges. Say like the biggest difference for all. These regulations is probably hong kong because every country has always created a new framework for crypto. Hong kong has done something different where they took the existing financial framework in the actually injected. Chris crypto crypto companies. That are licensed. They have to follow all the regulations of financial of other financial companies. Are plus they have. The added layer of being crypto company..
"chris crypto" Discussed on Heartland Newsfeed Radio Network
"Answer. What's the question you're listening to Ernest? Hancock and Richard Rope okay. We're GONNA go ahead. He has something he pulled up. You'RE GONNA talk to us about something needs to be slapped around for not bringing it up to begin with you know It is a patent that is Crypto currency based on proof of something. It's going to be tied. You get your digital crypto dollar. If you got your vaccine Kinda Crap. They're going to be You want your new purple money when this money doesn't mean nothing it's GonNa go because we're GONNA make sure it's going to go and you get your purple money and get your purple money. You gotTa have a shot how far off Emma O. You're pretty close all right so I'm GONNA cut the my screen here. This isn't the best article on it but this This is what I could find right here in the studio so this is on. Bitcoin DOT COM Microsoft patents. New CRYPTO currency system using body activity data Microsoft has patented a Chris crypto Currency Mining System. That leverages human activities including brainwaves embody when performing online tasks such as using search engines chat bots in reading adds quote. A user can solve the computational difficult problem unconsciously end quote the patent rates and I did look the Way Way Way Way Way Way Way Way. Read the article. Explain this. They're saying that. By instead of plug it into a minor. Human Body is the minor. Yeah that's what they're that that seems to be what they're saying that take into consideration that the gates Sham Dacian was working with mit on the quantum tattooed technology. That Bill Gates wants to have your digital electronic cryptocurrency certificate. I'm sorry you're you're vaccination certificate. He's got so many projects like blocking out the sun. There's a lot that he's involved in right now. So excuse me forgetting confused between those projects. Yeah so have that quantum dot technology they could probably hooked up to a crypto currency. This is June or a June July. Two Thousand Nineteen Patent that they file for. So I'm not saying there's no use in this type of patent dares various using this pat. I'm saying it I did say I said it. Let me read some more from the article. Yeah but see you go over some stuff and you just say there and I'm going. What does that mean yeah? I'm glad you do that. So let's see crypto current CRYPTO system leveraging body activity data Microsoft Microsoft Technology Licensing. The licensing arm of Microsoft Corporation. You the one that did the Marina Abramovich Satan this video last Friday on Good Friday the Microsoft Company. That did that Ad. Okay no time out time out. Stop Right there. I saw this. Here's a woman she's part of this spirit cooking and it's linked all the pedophile kind of Weird Satanic scumbag something and she's all buddies with everybody so what happened was there was a Microsoft commercial is something that had her in it. People Freak and he edited her out or something. Why the HELL would they even put? What is going on there? Explain that story the part that I caught it was it was about eternal life and virtual reality or something like that and it was like she will live forever and I was like Mall set and I did see the Microsoft at at the end so I was like. It's not a fake video. It's like something they actually ran and They took off as soon as they make hand signal signs each other all time. This is part of that. This is like yeah we're in man. Is Hillary Clinton Foundation? Ain't gone away. She's part of the installation for a bunch of crap they're just paid for flunkies willing to do and sociopathic whatever. They took the matrix as a business plan. Like oh we can make people in the batteries for real and they do it for real. We'RE GONNA turn them in the moneymaking. He's making the vaccine for the flag. Like I kept saying. Just wait and see who brings out the antidote like see this all going on throwing. Neta ALL SCRIPTS. Somebody shows up. What the antidote. And this guy's guy like many vaccine companies working on it want you to know the antidote was chloroquine and Zinc Davis knew something was up when trump came out and started tapping it and fau. She couldn't run to the podium fast enough to say oh they got the answer. We can't let them have the antidote. That's for us the elite there so weird crap going on here man. I've seen doctors talking about this. And it's like really February so Diddy A row. Who is a professor in France? He was the first one a remark. He's like synthesis ours corona virus. Why don't we use what was effective back? When he was one of the people on the front lines in two thousand five two thousand six hundred treating people he said if you if you try that treatment and then he actually started running. The studies didn't just hypothesize it so by the time. March sixteenth comes around and Ilan mosque is watching some of the same Doctors and pathologists the mad cram or P prosperity I think he was watching Med cram and so like we're all watching videos and Elon. Musk has enough reach to be like hey. He captured some slides from that Youtube video. He's like might one of these things work. And then within twenty four hours Bayer donates like eight million tablets of high of winter hydroxy chloroquine line and then the next day trump announced it so this was building up in the public on the Internet. Sphere among smarter people for like. I'm almost a month or a over a month before. Trump even mentioned it and then as soon as he mentioned it you saw how many people hated it just because he mentioned it if out you would imagine it and said Hey National Institutes of health. We did a study in two thousand five on Hydroxy Clark or Clarke when I forget which one it was and we found it to be effective like vouching. New and Falcon continued to play this game with the public. Because he is there because he's a R-enfield who is serving a master and his master and those masters want eighteen months. Because that's what it says it's going to take the kill and snuff out freedom in America and around the world. Okay let me tell you. Eight weeks can't be done in eight weeks but eighteen months and you get people to Starve and you get them hungry. Kill forty million people in Ukraine. You starve them. Okay Holodomor okay this is. This is one thing that I found of interest when they did this chloroquine thing and it came out the first thing you started seeing on media and so on all this husband wife died or he died or whatever because they did the chloroquine that was in the fish tank of cleaning and killed him. And I'm like what what a sigh up this. It's it's plate. I'm hoping governor started banning. It does that of Governor Bandit Michigan. Yeah now they're begging for it because they're basin call in France it's a government controlled substance. They took total control. And it's going on here too because I've seen a lot of doctors who've tried to treat their patients with it and they can't get it they have to beg for it from Fema or whoever stockpiling that now. So there's still shenanigans going on. We had an incurable pandemic. That was going around. According to the authority to cut life just like a month ago and now they're starting to show effective treatments either a vitamin C. A whole bunch of stuff that people are using effectively and some of these are going through a sturdy enough trial were to be mentioned at a higher level right as something to a wider audience that could be affected but all that stuff's being stomped out like esp as it can come because these other people have an agenda to inject you or they'll come up with a pill like Soma and brave new world as they're about to predictively program take right. There's be hedonism and central control. I had Dr Timber. We do the trump report last What was it Tuesday? And he goes. He says Ernie out of his on air. And I'll be goes Ernie. You're right all this stuff. I mean how. How's it feel a victory lap of what? I'm going he goes. Have you been watching the news? He goes do you see well I see the headlines and I put in Senate to be posted in our area I go. What did you read this? I don't have time but I go. I already know this movie script. I've already seen in this. I don't need to get into details of whatever you know. Nothing you're telling me surprises me. You know I don't know that. The patent on the crypto biometric doing mining that kind of a new one holy crap. But you know it goes right into the digital dollar you want your money and your purple money and you get a bunch of money and we'll twelve hundred dollars crap we'll give you ten thousand dollars signing up you know get your kids and there were two thousand we them with notions and potions from the crown. I mean this course this is going to happen. Of course I tell you James Corbett. He's kind of He's getting. Kinda FREAKY. He's like damn he didn't seem like he's afraid he didn't really think they were. GonNa go something I do. I need to talk to him. I think he's surprised at how fast this is going and I was surprised that they waited this long. And I'm going. This dollar thing has to go. Well here it comes. It was not the corona virus that killed the economy. It was a data economy in need of a corona virus to be able to do all of these trillions of dollars. It was inevitable so I'm so before we end the show. It's worse yeah. I.
"chris crypto" Discussed on The Bitcoin Podcast
"The pace has slowed in two thousand eighteen thirty million. Oh why the pace has has slowed to thirty million in two thousand eighteen according to the annual report we see group of a donations of slow rate. I think crypto has taken a nosedive in its valuations and parison <hes> gordon annual report. I think more people crank giving actually <hes> if don't look the dollar amount and we look at the actual amount of crypto currencies that have been doing anyway the report the news you want to report it but whatever <hes> we see cryptocurrency donations rise arise along with increases in value cryptocurrencies in the marketplace said a company representative likewise -delity charitable marketing head amy proof zillow solo set now that cryptos are facing downturn. People are less likely to offload them as church assets. This is related to the diminishing value of tax deductions charitable donors with able to claim so tax advantage in opening charity to ask chris crypto assets for years ago. Now the deputy was attempting to capitalize not only on humanity's philanthropic impulses but also real market incentives gordon pure solo investors who donate their assets. I do not have to pay capital gains way what on them in can write off your rate donations off your income tax. Oh evy let that makes sense c._p._r. On any group to themselves so according known <hes> well no <hes> according to parasol interested. They're saying it's like donating your car. You're centrally to like n._p._r. And whatever <hes> you can you can write off. Apparently people who investors who donate their assets do not after a capital gains on them and can write donations off against their income tax <hes> so there you go <hes>. She said that the firm arm even encourages clients to give their most appreciated assets i because it provides the best tax advantages for the donor charity instead of withdrawing your crypto was she do is you you use it as a tax break as sir. I feel like wh wait. Where do you feel is the the line in how much money you make where it becomes worthwhile or not worthwhile to donate x amount of money are david edge and never been put in the position where i need to make that decision <hes> okay <hes> i'd imagine sprite when you're at the bottom of tax bracket if you're at the bottom of very large tax bracket might wear donate a bunch to get you at the top of the other bracket rain. I wonder if it's like somewhere in the <hes> what's the highest tax is two hundred something. I think it's two fifty. Maybe if you're like in between two hundred two fifty. You're like two fifty five. Yes us sorry like yeah. If you're like fifty five or the synthetic donate five grand yeah yeah just donate a little bit counting. It's your income. I'm in year tax at the lower bracket right so accents since civility that knew that that does make sense because if the if the if if is tax income if the highest income tax bracket ends at two fifty gay then eight five k. to not be taxed if that yossi like it's forty percent under forty five percent or whatever it is. That's not worth it so you have to be making more than two fifty right. I don't know the brackets. What are you saying is like if there's a tax bracket of a hundred thousand right if you make over a hundred and fifty years in the start being taxed for like three percent more within was you really want to do is make one forty nine right yeah but lacks amazing go less awesome saying like if you're only making a little over one fifty.
"chris crypto" Discussed on CNBC's Fast Money
"That fifty percent sixty percent price up in one week is unhealthy and volatility obviously kind of cuts, both ways leverage cuts both ways. And so the fact that you've had that kind of run fifty percent sixty percent of the week and seeing ten percent fifteen percent correction in a matter of minutes. It's hard for be to say that that's expected normal. But that's what that has that tend to do. I mean, any if any other asset Basset class traded like this. In a single day. We'd say what in the world is that I don't wanna touch that we just accepting of that's the way it's going to be well. Tell you this is exactly how volatility traits so you can housing bucks and fifteen minutes to. Fanshawe's traits up, two thousand dollars overnight. I'm forty percents the week so again any any asset class that's up forty percent in at any over any short period of time that is extreme volatility, but you asked me though, they're not you said, hey, PK, everybody's running into this bitcoin because it's because of the safe haven play. And you ask to save and became said, no it's not a safe in because like this, it is the most volatile asset out there. This is not unusual to have it moved in these big big ten ten percent lose. It's not unusual for this the relationship between the hype over libra. I think we can call it hype. And how is going to trade here forward is, is what I actually think the effect of Facebook libra on bitcoin is marginal at best bitcoin was up two hundred percent even before Facebook of came out with their libra announcement, and frankly, it may on the margin invite the retail investor who is getting used to the concept of digital wallet. For the first time. And the idea of having a non sovereign store value to make payments is a new concept, but institutionally, which are affectively Genesis clients. I don't really get the sense that this moves the needle for them one bit. So I'm curious. You're talking about potentially hitting new hit a good and close back to the highs. Let's call it twenty thousand sometime in the next couple of months. What are you seeing on your desk 'cause you guys are one of the biggest traders out there, dealing with institutions? What's the characteristic of the person coming in? What kind of flow? Are you seeing is that last year seventeen asking about the quote unquote heart? Is that heard here? Now, my sense, is that the institutions from a volume perspective were up to exit three on volume compared to where we were twelve months ago, we've done about one hundred million the last two days of just pure OTC institutions kind of buy. Yes, it is traditional hedge funds. It is some of the Chris crypto asset managers, but sort of a new group that kind of highlight relish mall, but we've seen endowments in private schools start to dip their toes into actually owning the underlying asset class. And so I think that as far as the buyer base, it seems to be broadening rather than tightening like appreciate your time, having me. Michael Moore of. Genesis capital. Let's turn to our crypto bitcoin baller. You aren't you are actually seeing institutions come in. Michael mentioned pension and downs and schools. If you add this to your to your portfolio, and one to five percent position that's always said one to five percent position because it's uncollated to everything else, it can actually help out at the portfolio level. And that's what a lot of professional investors are seeing a lot of professional institutions are seeing, and they are buying that market and they're locking up that supply still ahead Nike racing into earnings on the verge of a correction. Some traders think selloff could actually get worse. We'll explain a head. We're live at the NASDAQ at Times Square, but more money still ahead..
"chris crypto" Discussed on P&L With Pimm Fox and Lisa Abramowicz
"One asset class that has been absolutely pummeled. Paul has been bitcoin at least this year. And joining us now as somebody who is a believer in the blockchain technology of Aleve. Oh, believer in crypto acids, and has a lot of money invested in the securities. Daniel masters, chairman of quenchers group, joining us now from London, Danny, thank you so much for being with us. I thought it was really interesting. A move that Switzerland made that seems to give some edification to the Chris crypto acid world. Yes. Hi, nice to be with you. Again. It's been a very, very interesting. She dies in crypto. Following what's been obviously a terrible year now, Switzerland might not be most prominent nation from the US perspective. But it is the largest economy in the world bigger than a Belgian Tina. This was federal council just issue that framework, entitled, the legal framework for district technology and blockchain and it's been issued by the Swiss federal council, the most senior office in that Swiss nights nation this Switzerland, in my opinion is a new type constitution. It is a global precedence, and it reminds me a lot of the twenty twelve US jobs act. So Daniel, I guess when I read that bath, Switzerland, I even though it is a relatively small connett Connie if from a banking perspective. It's been a global. Leader forever. So I kind of viewed it, maybe as validation, if you will, of blockchain, technology and crypto currencies, you know, giving the leadership position at Switzerland's kind of always had in financial services. You'll correct? They are indeed happened for many, a decade leaders in financial services that makes district back much more credible. The report itself is very substantial called a hundred sixty two pages of a hundred legal cross-references, and what really drew our attention to. It was that on my professional network. This was viewed by over three hundred seventy five thousand people that happened to correspond with twenty five percent rally in crypto measured for dumpling bitcoin between two hundred dollars and full thousand dollars. So I think this is a meaningful development on. Yeah. Danny your coin chairs has combined one billion dollars of assets under management focused on crypto currencies and their crypto assets. And I'm just wondering what are you expecting next year? I mean, we are we going to be talking more about bitcoin, as a viable long term asset class next year. We'll it rally or is it going to be another difficult period for for it? Well, you know, I think this, this report is actually a possibly a catalyst. Listen interesting developments in twenty seventeen crypto values would driven by non-institutional investors. This current given rally was saying in twenty eight fifteen Perol inflows and per information from all his is institutionally driven. This is supported by the Swiss government stones, because it's the sort of encouragement, the institutional investment committees can buy into in terms of the likely shape of the rally that we may see next year. I think it will be much narrower than we saw in the post the proliferation of tokens many, which will fail. But from that, wreckage similar to what happened off to the NASDAQ rush in two thousand one I think we're gonna see a now a band of some protocol, cones and some asset coins that are going to do quite well, what else would the? The crypto market, broadly, defined liked to see to, I guess, further validated technology and the potential use cases, Switzerland may be one of those milepost. What else do you think the market is really looking forward to provide some support for this technology discouraging? Yeah, you're right. I think that the, the evolutionary big bang that we saw in crypt over the last few years since been lost the aspirational, the technology companies that we're directly involved with all developing, really interesting technology. It has been slow to come to the market. And that's what the monkey needs to see and the headwinds that these kind of technology companies actually face is being addressed by some of these Swiss thumb meshes so just quickly money laundering, and some terrorist financing always can son Swiss of taking this account recognized its importance and said, in this studies detection, so I fall, it's not been a big issue. So they're going to keep watching, I but allow a more fluid environment thanking has been a headwind for these companies, this document actually talks about Switzerland's position Swiss Bankers Association to buying this initiative, and cleverly the way that. The Swiss are looking at securities and physical assets, which usually represented in a in a dematerialize fool in, like trading rights persecutors posted. She seats, the commodity and they're looking at those instruments to be digitized. Thank you so much being with us any masters chairman, chairman of coin shares group in London. Right now. We're going to turn our focus to healthcare. We've.
"chris crypto" Discussed on Security Now
"Last Tuesday, and some news there, including a bluetooth surprise for a number of windows, eight and ten users, another useless warning about the blue keep vulnerability. Because if anybody doesn't know by now, you know, the DA Jess, adding Joe chiming in that's not gonna help Microsoft missed a ninety day. Tavist Ormondy deadline loops by well, we're not sure if it was one day or more. But it was it was. They, they missed it, and there is now a new problem doesn't look that bad Tabas considers it important. But I'm sure we'll see it fixed next month. We've got some good news in the Gand crab wrap up. We have a mistake in entropy that you Bacau found and has is in the process of completely flushing out of the, the install base of Phipps compatible UB devices. We've got, oh a little bit of post announce squirrel news, a favourite IOS security app that I've been wanting to talk about. And I, I was prompted to buy a tweet that I saw. And then we're going to talk about what has happened since the update XM now podcast, it's been a fateful week so, and I've course I do have a fun picture of the week. So lots to talk about it. Not to add on. Facebook announced that they're going to do a crypto currency, which is, yeah, this is a big story because that's two and a half billion potential users. Whoa, okay. Okay. Go ahead. Sorry it's, it's based on a Swiss foundation and consortium called the LeBron network. It will be leap, the libra coin, and I'm at some point would love for you to look at what they're doing to make it, you know, better than or different than bitcoin. I thought initially it would be pegged. But apparently won't be pegged on any Fiat currency. They have interesting proof of stake, blockchain, that is new, and there are a number of people, including many in the crypto community say this could be watershed for crypto currency. And I know you have some interesting crypto currency, so. Well, I yeah. It it's you know, academic besides that decides that erased hard drive. Thank you. But it will be a sable Chris crypto currency. That's their hope anyway. And so they would be a day would be at a gateway for moving US dollars into an out of this coin, not just US dollars. They're going to use euros, yen and pounds as well as US dollars. It'll be backed by actual assets. In those in those four Fiat currencies. So they'll be an exchange for for those. Yeah. And of course, they'll build it into all of their tools. So transactions through what's app, Instagram and Facebook will probably use. I'm calling him suck bucks. But I think they want to. Libra. Is it is what you hear it? You can't forget it. But I, I know you know, you did this great really in depth piece some years ago on bitcoin in week we explain the blockchain hole. This is this is kind of an up-to-date two token system that I don't fully understand. But I'd love to get your thoughts on. So it exists independently. And they're already are Li LeBron, no, coin, no. Well, that's an interesting question. Facebook says not till twenty twenty but they're making this announcement now this libra stabile stable crypto currency backed by a basket of financial assets, which runs on its own blockchain. That's in their press release. So I'll know more about it next week. Yeah, it's backed by a not for profit organization out of Switzerland's. Call the libra association. It's I mean it's fascinating and of course. They're, they're trying to make it governmentally approved. But I can imagine a government might see this as an assault certainly, the banks will. So and they've got MasterCard visa and pay pal as the consortium. No kidding. So this is clearly, the largest entity the largest legitimate entity to ever back a cryptocurrency. And of course, what are the winkle twinkles now goes, the Waco by have all their put their money into bitcoin? Right. All right. But there's clearly been problems with bitcoin. And so these are, of course, to try to address this particular volatility of bitcoin, which, well, it, it, it, it suffers from not having enough, exceleron or resistance in its its fundamental algorithm..
"chris crypto" Discussed on The Crypto Street Podcast
"I think it was so mad that said something about of the exchanges that have been hacked in the last three sixty five days of this was the actor, you know, exit scammed or something this was the lease dollar wise that was lost. So you You know, know? what I mean? I mean, fortunately is a lot of money, but at the same time, it's like, you know, I mean customers wearing affected by Nance was prepared for those. You know, they have an insurance fund they're covering it. You know? I mean, it's this isn't going to be like one of the big hawks that people. Remember, I don't think and they're definitely was reaction to bitcoin markets. You know, there is a a sell off that ensued. Not too much of one. The Duke was pretty pretty hard. So you know, we'll we'll see what happens. The most interesting thing about this whole situation to me is that finance is actually frozen deposits and withdrawals for the next week. So I mean, if you have a financial coins right now like I do coins on dance, then get ready. It's it's going to get nasty on there for for a minute. Just because there's no flow. There's no overhead it's just gonna be pumped city bitch. So it's it's going to be exciting to kind of be there during that time. It's funny because the most people the automatic reaction is well rest in peace to my long positions in everything. I gotta bail run for the hills. But take some time actually dissect these situation, in my view, it doesn't really you know, that's not the situation. Yeah. Unfor- the bills right now. Yeah. For sure. Good wakeup call though. Like, so many people use almost like a hot wallet. Even just for themselves because you know, the app is easy to use all of that. So it's just like, you know, when they wanna just put something somewhere. The, you know, the first place to go. Yeah. It's easy to get complacent with that. Guilty of some of the same lexin. Oh, we got a bunch of shit Quinn's finance right now. If it works out for me this time, you know, I didn't lose any money. Now, I get to be there while nobody else can deposit, so we're gonna we're gonna see how that goes. Of course, no one can ever say, you know, hey, I recommend you to keep your shit coins on an exchange, but you know, but at the same time like I said, this this kind of establishes a new precedent for crypto exchanges, whereas in the past what what are the big risk factors? Chris crypto exchange was losing your fucking money do act and. You know, they've they've radicalized that. It's it's not a thing anymore. So, you know, you know, with finance if you do happen to have coins. There you know, that you're actively trading with than in something happens in, you know, they've got you covered..
"chris crypto" Discussed on Knowledge@Wharton
"Podcast is brought to you by knowledge award. We've been reading about the amazing run in value of cryptocurrency bitcoin in the last year, but there are many people who are skeptical as to the long-term value of it, and there is a worry that investments that people have made in the last year could lose some or all of its value rather quickly. A new book though looks at cryptocurrency in general, did you know the fact that there are variety of different types out there and not just bitcoin the book by Jack tater and crisper Nikki is titled crypto assets, the innovators investor, the innovative investors guide to bitcoin MB on Jack, is an angel investor and advisor to startups in the cryptocurrency sector, and he joins us now. Jack welcome. Thank you, Dan. Thanks for having me for sure. Thank you for a lot of people that listen to us that don't have really the hold still on what bitcoin is you start out your book with a little bit of a historical perspective on bitcoin and how. What really got it. Can you give us the the Reader's Digest version of how bitcoin really got going? Sure, no problem. It's what's interesting about about the star of bitcoin is that there were many attempts not many, but a number of attempts prior to come up with a digital currency prior to the creation of the white paper and the software which was created by a person by the name of Saotome. She knock Emoto who we have no idea who they are, but we spent a lot of time taking a look at this and in the book we actually feel that it grew out of the financial crisis of two thousand eight, which was when the software was created by this anonymous person. And we think it was in response really to the financial crisis and also to create a new monetary system and monetary structure that was a little bit more democratic more decentralized and didn't have a lot of those central points of authority which caused a lot of the problems with. The financial crisis. So we really see bitcoin growing out of the financial space. And that's why we, we wanted to focus on the book, addressing it from the financial and also investment standpoint, as well as the technology innovation that it is. And that's one of the interesting things is that there's even a distinction in terms of using the word bitcoin when you haven't as a lower case B at the outset and having it as a capital B in terms of the actual the the software end of things. Yes, it's very, it is interesting because bitcoin with a capital B stands for the platform, an essence, the bitcoin blockchain, but the platform that exists, which which there are things that have been built off of it. There have been folks off of it, but the currency that is sold is a small, be bitcoin. And so the currency is referred to as a small fee. So there is a distinction there and and it's. Not so much. It's not intentional. I think people need to understand it's not intentional. The people in the bitcoin UDI are intentionally trying to confuse people just really trying to put some put some clarity to a lot of the taxonomy that's involved there. So how many different types of cryptocurrency are there out there? I know when we first wrote the book and finish the book in March of last year, I think we were looking at about seven hundred different crypto asset net. Now you're looking at thirteen fourteen hundred seems to be owning exponentially. We saw a real increase over the last year with a lot of initial coin offerings coming out and a lot of new crypto assets coming forward. But yeah, you have the ability to invest in about thirteen hundred of one of the problems is the the user experiences and all that great with buying these currencies. And so a lot of people just kind of gravitate towards the larger currencies which are easier to trade, like bitcoin light coin. Ethereal, and now what we're seeing ripple rising as well. So and actually ripple making a little bit news and these are investments that that do have the potential of going up and down quickly. They're talking about a ripple today going down some thirty percent, and I asked that also because you have just a mindset a different mindset by what we see here in the United States around crypto currency to what you will see in China, which is said that you know that the crypto currency is something that they do not want in their country Israel, you know, with a with an announcement saying that that bitcoin is an asset and not a currency. So I mean, there's still a lot of kind of feeling out process on this. Correct. Well, that's very true, and that's why we spent time in the book. And I think one of the things that we really wanted to do with the book was to really define the taxonomy of crypto assets what we call crypto acids, because every. Refers to them as crypto currencies, and then there's not thirteen hundred, Chris crypto currencies. Crypto currency is something like a bitcoin which can be used as a currency, but then their assets like a theory which we don't see as currency. But we see that as a crypto commodity. And then we see certain application tokens that are crypto token. So we felt there was a need to to define them. But also I think one thing that's important to understand you've seen a lot of press around like China, outlawing it and over man stepping in, I think I think there's a limited amount that governments can do to these assets because they're decentralized, it's it's kind of like the horses out of the stable. Alrighty. I mean, these these assets are being created and distributed around the world. There's there's a limitation to what governments can do, but what governments can do like they did in China is step forward and shutdown exchanges where these coins could be converted into currency and. Not much shutting them down for good, right? They're just trying to get their arms around some of the KYC and AM L and try and define who owns this asset. And I think that's something you're going to see governments step up and doing. That's maybe where they have a place to to be involved is to is to better define who owns this asset for reasons of taxation and things along those lines. So that's what you're seeing some of the government's in, but but because of the ways these these assets are created decentralized manner. There really is a limitation to what countries and government regulations can do to stop them. So are you expecting the well? Let me ask you this from this perspective. How do you see a lot of cryptocurrency playing out if it's not going to be regulated by governments? How do you see it playing out? Because a lot of people have this wonder a of of what it actually will be in the years to come. Well, I think you know, they're all very different. They are all very different. You know, bitcoin we can say bitcoin is, is is a currency. But yet it has some. It has some limitations in terms of transaction speed and and things along those lines. So it's not the optimal formed for transaction. Oh, the people will say it's a great store value something along the lineup, gold, and it can be the basis for a lot of these different assets, so so they all have their different uses. I mean, I honestly believe I mean, I said, there's thirteen hundred tow assets out there. You know, there's a handful of those which are really worthwhile, which are really things that people should look at as vestments. But I think what we're seeing is we're seeing some of these new assets being created that are very, very valid business cases and very, very valid business applications that are being built on the blockchain that are going to be companies that find years from now we're going. To be using on on on wide basis. So I think it's very similar to what the internet was years ago. This is technology companies are being built on it, and there's gonna be a big shake-out, but there will be some companies that will survive and thrive using this technology. So how good of a of a startup kind of sector is this right now? Well, it's a very hot sector right now because it's happening. What's happening right now is is kind of as a counter counter play to the IPO funding mechanism. There's something being done in the crypto acid space, cold initial coin offerings, and sickly. What's happening is that companies are coming forward with the business plan business concept, and they're raising money for it through an initial coin offering, very democratic way to say to everybody on by in and you buy this token and by a certain price. And as the utility of the token increases, it will raise in value. Now that's playing a lot of the crowdfunding regulations that we've seen come into play. I think it's also a threat to the regular capital market funding systems that we've seen with IPO's and things along those lines. So I think we're seeing a lot of innovative companies coming out finding easy ways to get funding through this ICO method, but in conjunction with that and the ability to bring some companies Ford, the the, the other side of that is that there's a lot of companies that are being created that are not going to be beneficial for investors, and that's where I think there needs to be some regulation come into play too, or and some education on the investor side to know whether or not this is a good investment to be involved in. And I think you're going to start to see government get more involved in regulating these. These initial coin orphans. We're already that with with in the in the US and there are some regulations out there like the Howie test and things will those lines which we talk about in the book as wasted. Discern whether or not this is a valid security or is valid vestment the fast growing area, and it's an area that really requires that if people are going to put their money for it and they've got to be educated in it. Well, is it a surprise to you that we are starting to see bitcoin, at least the futures being traded on various exchanges ear in the US? Well, I've always felt and I, I have to have the state here that I've spent twenty years in the financial services industry, and I was actually a financial advisor prepare time. So I'm not one of those young technology guys who's looking at this space as a real geek, right? I come to this from the investment and the financial stamp point, and I've always felt that once we get away from this talk, which I think is very, is not constructive at all Jamie diamond saying it's a fraud upon these. Once we get away from that, realize that that's not that's not the case. And you start to take a look at what's going on here. I think there are. Some valid ways for people to view this as an investment and put it in to their for portfolio, potentially put it into their portfolio. So I'm not surprised that we're starting to see financial companies step up and say, we've gotta figure out how to allow investors to get involved in this in in a much more user friendly manner. I mean, right now it is not the easiest thing in the world to buy these assets. Right, really. So so for people to buy futures market by into the futures market, I think is good. I also think it's going to be very important and is going to grow the the whole sector when we start to see more ATS more bitcoin ETF's crypto ETF's come out that our make it easy for investors to get involved in this. So I always thought this was a mad only a matter of time before Wall Street figured out how to make money on this and provide investment vehicles for the individual investor. And I think we're starting to see that now in the futures market was obviously the the first. I way to really bring that forward. Well, we're talking with Jack tater who is co, author of the book crypto assets, the innovative investors guide to bitcoin and beyond. You're more than welcome to join in with your comments or questions about crypto assets. Cryptocurrency more than welcome to at eight, four, four Warton eight, four, four, nine, four, two, seven, eight, six. Or if you'd like send us a comment via Twitter, either at biz radio, one, eleven or my daughter count, which is at Dan loaning Twenty-one. I find it interesting that when you're up until a couple years ago to flat out on us, I was still trying to get a handle on crypto acids and currency in general. And I'm still learning as we go. Do you find that that's going to be the norm with a majority of people not necessarily the people that are that are close in the sector, but that's going to be the norm for a lot of people here in the US and other parts of the world in the years to come. I think it's it is not an easy thing to understand. I mean, I. You know, I guess I'm an old guy here, so the technology aspect of it I can. I can understand relatively well, but, but to really recognize what's going on here, you know, you've got cryptography involved. You've got developers involved. You've got all these social networks and you've got, you know, one acid is doing this and another assets. Trading six change is not easy at all to to understand. So it does require that people become educated on this, but I do believe in all, go back to my point earlier about the Jamie diamonds and the people in the financial sector who have been basically, Pooh, poohing this and calling it a fraud. Yeah, they haven't done. They
"chris crypto" Discussed on Bytemarks Cafe
"Yeah that's that's true they're there try trying they're definitely some regulation around interacting with exchanges which is why exchanges coin bass don't really operate here but there's always a way to get cryptocurrency in exchanges basically platform where you could turn fiat currency into a bitcoin holding correct correct and so that was one one sort of policy decision that basically had coin based leave hawaii right and then there's another legislation that's being considered it's hp twenty to fifty seven is that correct fifty seven maybe you could tell us a little bit about the nature of that particular piece of legislation all right the the way i've been terminated and i'm by no means like someone who should interpret but you happen to you do a good job testifying but the way that i understand the bills they basically want people to register if they're doing any kind of transactions currency and that includes like crypto to crypto and i don't really like the term currency iv them as a chris crypto assets because it's more about ownership than about value when you when you call it currency kind of signs value to it and that's not true for every everything on the blockchain not all of it has value as as we're seeing with collapses still value this this registration required if i wanted to as a good friend of ours did not go years ago by gift some bitcoin or does coin and buy pizza jj dolan's downtown to be able to even engage in that exchange i would need to be a registered grotto do it have to register david david knows the bill better than i do but i think he'd have to register and have twenty five thousand dollars reserve is that right.