Egggg yolk, what is going on viewers of the tubbbeeer….if you didn’t mean to click on this channel, don’t step away, because you just entered the crypto channel, that keeps it wierder, than this bread expert on Conan….you know our hoagie, it’s time for Chico Crypto! What!? Bitcoin & the cryptomarkets, are taking off!! It was very nice to wake up & see green, over 10 percent gains for almost every coin out there……then pulling out the BTC price chart for the past 7 days, the price, after getting obliterated in the flash crash…was up down and all around after throughout last weekend, hitting a low of 4.5k, but since that Monday low….it has pushed up and pushed up hard. So, I’m sure most of you are happy, as an increasing price, is usually a good thing for an investor. But, there are those stupid bears, who love to play with leverage…..and the markets, they turned extremely bearish, with many traders calling for 3k…shoot even some calling for 1k levels. I tried to explain last week, this is exactly what was going to happen, the leverage exchange, are once again setting everyone up but in the reverse….…..just go to the data fwiends….datamish, as we can see over the 24 hour PUMP, bifinex liquidated over 200 BTC on shorts…and Bitmex….they got nearly 50 million dollars in short liquidations, just in 24 hours. So…..it’s a leveraged traders game right now, where Arthur Hayes, CZ Binance, and the other centralized exchange cartel members are laughing all the way to the bank…. So personally am I bearish or bullish?? Well, that is a complicated matter as I’m bearish & bullish at the same time. Bearish because I stick by my personal thoughts, that this market is controlled by some extremely bad people….I mean during the flash crash, BITMEX proved it was the New york stock exchange of crypto, when they turned on their own circuit breakers…halting trading on the exchange, most likely due to a death spiral…. Then you have Tether and Bitfinex, who are also into the leverage game now… which you must know my thoughts on, they could be considered the federal reserve of crypto, being able to print, when they see fit. This article explains it nicely, Bitcoin Rallies as Tether Prints Another $60M USDT for the Second Day in a Row…..of which Bitfinex’s CTO Paulo Ardoino covered and said both of them were for “inventory replinishes”. It’s currently unclear whether this is a major individual or institution that is requesting more USDT to be issued….or a person at all, and it me think that this is going to become a recurring thing as global markets continue their downward spiral…. But that could be bullish, if we have a printer, saving the markets from total collapse…..does it sound kind of like something BTC was made to replace….THE USD? Yes, this is what we need to talk about, the traditional financial system, as BITCOIN and dirty players within it, are starting to mirror the scum in finance 1.0. But, the reverse is true too, as finance 1.0 is also looking to crypto….. 3 days ago, during the Monday, stock market madness, something was announced wayyyy out of left field, by Treasury Secretary, Steve Mnuchin, Snoochin Boochins…announced that he would be appointing, Coinbase’s now former, Chief Legal Officer, Brian Brooks to Oversee, the US’s national banking system….according to this bloomberg law acritcle about the appointment, “The Office of the Comptroller of the Currency has appointed Brian Brooks, chief legal officer at cryptocurrency
exchange Coinbase, as first deputy comptroller, the agency’s second highest position. Brooks will also serve as the OCC’s chief operating officer effective April 1….so DAMN BRIAN….you are in & in tigggghttt…. So this is big! And it was posted on r/cryptocrrency….look at the comments….this is good for Bitcoin,…how come this isn’t getting any attention, sounds like some pretty deep stuff…well you are correct individual thoughts on reddit….it needs attention & this is some pretty damn deep stuff… So Brian Brooks, was brought on to Coinbase back in September of 2018, which from the blog post…”His arrival is part of our effort to expand our legal, compliance and government affairs capabilities as we head into this next chapter for the company and the cryptocurrency
industry as a whole.” Which Brian DID! Within just 1 month of bringing Brian on…Coinbase launched USDC…their own Digital Dollar. Thus it’s super easy to assume that Brian, the lawyer, knows all the legal red tape around creating the stable currency USDC, he knows what to do, he has done it before…. That is why his transfer to the government, especially leading and overseeing the banking sector is soooo big…They just brought on the best positioned and qualified person to lead the banking sector laws and regulations in the government’s transition to a fully digital dollar…… But a digital way to drop money to people, could be coming sooner than we think. Mnuchin, the one who brought on Brian, was the one who announced that their administration was looking to send 1000 dollar checks to every american… Yes they said 2 weeks, which is impossible, unfeasible, by doing it the old way of just printing 300 million checks, and then having everyone take them to the bank…if only there was a way to do it digitally….and you just brought on Brian Brooks? So this, is just too coincidental, Messari research, just had Brian on, 10 days ago on March 10th, to talk about Coinbase “Law”…well let’s just hear what Brian said in the beginning of the convo, about what he “previously has done” So yes, he has previously worked on this type of stuff, doing away with the old “check” system….direct deposits, finding the banks, and working out the laws…quickly. And now let’s just replay, what he said in the beginning…hee is destined for this, and for a long long time. So I’m not saying that it’s going to happen, but it might just happen, that they could be issuing these direct payments, digitally. But what Brian got legal clarity at Coinbase, his Digital Dollar, USDC…was a centralized coin, from the release blog post of USDC, “Each USDC is 100% collateralized by a corresponding USD held in accounts subject to regular public reporting of reserves.” Which means, the collateral behind USDC, the dollars, are in centralized accounts. You are trusting basically a bank again with your money…..ooohhh ok, we are going backwards….So even if Brian, isn’t creating legal clarity to issues Trump’s and Snoochie Boochies, 1k checks, he is there to create the legal clarity, for eventually a digital dollar. Just like how China is moving to the digital Yuan. This isn’t good for privacy since there will be no cash and thus the gov will be able to 100% trace all money transfers. In my personal opinion, they’re thinking over 5 years ahead, this won’t happen overnight, but it will happen…and those checks could possibly be the beginning of the new digital world…is this good for Bitcoin? We will have to find out. Cheers I’ll see you next time!