The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast - Nov 3: Long on BTC Post- Election, & Unstoppable Domains w/ Chainlink & Twitter

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00:00:00
From the Crypt Ico. This is the Crypt daily in my name is Matthew Aaron today on the show Hong Kong is set to regulate crypto exchanges co-founder of Unstoppable to means Bradley cam comes on to talk about multiple demands and going long a Bitcoin after the election coming up on the decrypt daily.

00:00:19
What's up, everybody? Welcome to the show. Today is Tuesday, November 3rd 2020 election day. I drove around this morning coffee in hand looking at all the polling places in my area that we went to about I would say six to eight of them just to see what the lines are. Like some of them lines were stretched a half a mile three-quarters of a mile just ridiculously long line of other ones was non-existent. I just hope people don't wait too long. And remember people if you are in line in the polls close don't get out of line. You can still vote if you are in line. It is your right to vote stay in line. Don't go past your ballot and we will see how this rolls out over the next couple days. And I also want to see how Bitcoin is rolling out right now is take those prices money talk.

00:01:10
I'm recording this at 3 p.m. Eastern Standard Time Bitcoin at $13,727 up 1.5% from yesterday, ethereum 38343 down half percent from yesterday Litecoin 5335 down 1.2% chain, Lee 1032 down to 5.5% and xrp up 1% at 23.8% Total market cap for all the cryptocurrency is at 396.2 billion dollars and a BTC dominance of 64.2% And on a side note. I seen a lot of chatter on Twitter the past couple days about Bitcoin mining difficulty dropping and it actually dropped around 16% which is one of the biggest drops in history, but this is just really routine. This is an annual event that just so happens to be during a bull as part of Bitcoins history in minors just will turn off and they will relocate

00:02:10
Different place where cheaper electricity I think is going to be around in the city jungle region of China and they'll come back online in about 14 days or so. So this has nothing to do with the price is has nothing to do with her being bullies or be long or short on bitcoin. It's something that happens often. Just wait it out in about two weeks later. We should be back to normal.

00:02:35
Enterprise conversation today we have Nicholas pelicanos head of trading of an m and he's going to talk about his trading strategy and Bing Wong on bitcoin after the election. What does he want to see out of this like a trumpet tree or biting Victory? Let's see what he has to say. That's awesome and thank you for coming on short notice, but I want to have a lot of people on to talk about the election. This is one of the most pivotal moment and I think the United States history and why is it. All is because this is now can be the second or third. I'm sorry president of the United States since Bitcoin and cryptocurrency has been alive in existence. Espresso Barack Obama, then it was Trump and now it could be biting or it could be a continuation of trump before exactly. So what do you what do you predicting for trading? We predicting for the crypto space if Trump wins or if vitamins there's a few scenarios when looking at I feel like this is the first election.

00:03:35
I don't really care who gets in and I know that you know, I've been training elections doing. Okay. Well, this is the strategy we have Victory Auto Reading Minds who gets in whether it's trample Baden tomorrow ride the day after the election. We have the next fed meeting me. There is a winner we will have an announcement on stimulants are both sides. Why didn't Trump want to do stimulus packages to trillion dollars and is that gets in there tomorrow and how they want to do, you know the same that drive markets this year was stimulus in the US all of these stimulus checks out to everyone that helped Drive crypto and Retail front potentially, but don't say that help Drive markets in general when we had that really strong correlation between crypto and inequities to takes it back to where it what I say. I don't really care if we have a president come tomorrow then I think the FED has some clarity on what time is it?

00:04:35
PlayStation now if there's an announcement of any stimulus it'll push equities high of BTC is and BBC kind of lead script in Moccasin sure, you know information you listen to PCC is historically its price action. It's sitting at a resistance points. I'm in my car like a lost puppy of resistance before it touches the all time high if you got back all the way to the store and you Ja Rule diss line, if you guys can you find the high from the Bull Run 35 the next resistance and you do that you'll see the price will always run up hit the resistance 183 and then you'll not really kicks off live then the angle of the price action really starts to Steven. What is the point is I heard 13800. Yeah. I think I have it. It's 1313 me about 30 night. Yeah. I mean I'm sitting here to get saying I just do not want it to be typed. I would like one side to concede also.

00:05:35
I want to send it to be so defined by one house and then the president being another house because not been the stimulus is really going to get messy. So it while I mean just so I don't really care who gets in for me. I just might just be that sort of kick the crap. They need some sort of break that resistance know we are not treating so we aren't a financial advice shall we are daily new show however, you know, I do like to see the sea and look at it and think about the markets about how we should be at the average person. I'm just a dude with the microphone and I be worth it in this or just a little bit of crypto and a little bit of wallets. How should they be thinking and reacting to the news of the next president United States if they even should react in a different way.

00:06:35
The Mentalist Drive in crypto and general to have bigger than than you know, the policies of each president. I will say what's interesting is I like that by then has inner a preference to go to guy green and what that will do for Bitcoin mining is probably make it more accessible Ryan s very concentrated in China because of the of the renewable energies to have that the US had more renewable energies will probably see more mind set up in the US done for me good thing it in India National interest. That's probably something you should you should probably also I would say, you know, the real sort of macro driver that sort of pushing a lot of Bull Street Capital into the spaces is the inflation play right that's been happening a ridiculous amount of money thing printed long-term. What's that mean for the US dollar and means it's going to devalue to lose its purchasing power and this is the play this is this is why people moving squid say

00:07:35
And that it's going to remain to sometime Nicholas pelicanos head of trading for an M. Thank you very much for coming on the show, and we'll talk about this and I know we're getting food. Probably talked to him a little bit more later this week once we figure out what is going on in. Thanks, bro. That's good, Matthew. Thank you.

00:07:51
Sending Bitcoin and cryptocurrency always been a pain in the butt. I mean a private key just is a bunch of gibberish big letters little letters numbers all kinds of stuff. It's hard. You can't remember them. But there's this one company that is trying to change the whole game to make it just as easy as PayPal and venmo and any other way that we send money in the traditional market and that's on top of what the maid and here to talk about. There is a Grayson with chain link and Twitter is Bradley Kim co-founder of Unstoppable to means absolutely shatila with chain-link. You're talking about Twitter verification. I read this article, I don't get it. So let's start one step at a time. What what's up with the chain link and then tell me about using Twitter. Yeah. So here is bad. So users control blockchain demands. They store them inside of their cryptocurrency wallet just like a cryptocurrency so you completely control it and you can use them for

00:08:51
Payment so you can send me money to Brad. Crypto. No need to tip be audience. Just just just throwing that out there.

00:09:02
What does a problem right though? I've got bread. Crypto, but a little bit better than just sending to some crazy 40 character address. But is it is it the right? Is it the right Brad? How do you know and if you think about how it works with regular payment system. They're in the world. You know, I go and I use venmo or something like that when I go and I want to send you money on venmo. I type in the username. I usually I see your face. Maybe I see a link to your social media or whatever and I'm like, okay. Yeah. This is this the right person. So that's what makes me feel comfortable, you know sending you $500 and you know decent chance that it's going to the right person have extremely high chances going to the right person that exist in the world and what happened with your co-payment will of course people are using it the regular world and in particular they have this they have this idea of identity like, you know,

00:10:02
You have high confidence that you're paying the right person and we were thinking okay Krypto famous have this problem. You feel super Anonymous you not sure if you're paying the right person. How do we fix that? So there's a way to fix it in a very blotchy made a way where users are still in control. And so the way it works is you are attaching your Twitter handle to your domain name your signing a message to private key right in this information to the bar. Then you tweet out you tweet out this message along with a code and then oracle's verifiers go and check the blockchain and check Twitter and improve this information is share this information and then write that to the blockchain the proof saying yes, Miss Twitter handle is associated with this demand. So the Oracle part the verification part is retaining comes in and your chain link is probably the score of the most use Oracle system. And the reason why oracles are so important is you got all this off chain data, you got to figure out how to get that information on change so we can use it for transaction family. Does that so the net

00:11:02
Give all of this is if you go type in a domain name into a wallet then that wallet and now show you the Twitter handle too. So you type in a domain name. I think it works in my ether wallet right now. So you can type in the domain name for you before you hit a you seen a little verification thing that says this domain is associated with this Twitter handle. You can click check the Twitter Twitter account that Twitter account has five years of History, etc. Etc. You know, it's the right person cuz you been interacting with them over Twitter DM or following them for years like yes, this is the person I'm trying to pay now I pack a picnic and scary giving you actual information about who you're paying before you send the money, which of course in this world is completely reversible. So, is there a land or a way to integrate with that is well with me Facebook cuz I need to login with Facebook or something. I do all the time. I log in with my Apple ID to make more people get more people involved. Crypto Twitter.

00:12:02
Cryptolocker on Twitter are fine with the handle make sense, but not for my mom or for anybody that might be jumping in that that isn't involved in the space totally. And so I think what does this is sort of an egg in this is an example showing how this can work and in the future. I think what's going to happen is you're going to want to try all kinds of offworld off chain usernames and and ideas and information at your domain name to make payments more safer or more safe. So this is really just step one and you know step one we chose Twitter because you know, it's a tool that the community uses a lot and it's also a tool for pseudonymous ID, which we thought was kind of cool to start with something that you know doesn't expose your information. You can still be essentially near you. Can you can still be a Twitter IDs are essentially pseudo Anonymous IDs instead of real IDs and your Facebook is more real IDs. So we thought that would be a good place to start that kind of protect people.

00:13:02
Privacy a little bit there, but I think that was going to wind up happening is you're going to want all types. Like maybe you're going to want to be completely Anonymous. Maybe you're going to want to be anonymous. Maybe you're going to want to be heavier old. Id a tied to your tattoo your domain name to your wallet as well as she's going to depend on you as a user with one you want. This is going to be all types of users in all types of use cases Brad cam co-founder of Unstoppable. Would Amaze. Thanks for coming on and in chatting about anything. I want I appreciate it and briefly in a couple other stories today. We have Hong Kong is said to regulate all cryptocurrency trading platform is operating within that Financial hotspot. Hong Kong is playing on regulating crypto exchanges. And that's 16 to such as ft x with we had sandbank winfried on the show a couple times and I reach out to him to ask him what's going on with that. How do you feel about that name when he does reply if he does replied I will most certainly let you know but the new regulations will move Hong Kong on permits.

00:14:02
2019 regulatory framework all cryptocurrency trading platforms will have to apply for a license as a result.

00:14:09
The SEC makes it easier for crypto startups to raise funds the SEC will allow companies to be exempt for registering for crowdfund security offerings up to 5 million dollars. That's that's pretty big how many exemptions can sell restricted Securities this Alters the incentives for pursuing Public Funding vs. VC funding.

00:14:30
And finally the brave browser hit 20 million monthly users, which is an increase of 230% in the past year. Now. If you're Savvy, you know, I just said it 20 million monthly users, but that also means seven million daily active users. So if you were the one in 7 million people they're using Brave browser every day. You are a revolutionary and honestly probably send you a thank-you letter or a birthday card.

00:15:02
Thanks for listening to this episode of the decrypt daily. My name is Matthew Aaron. You send me an email Matthew in at the group that CEO and don't forget to subscribe leave us a rating and a comment on Apple podcast. It helps us a lot tomorrow and Thursday. We really talking to a lot of people from lawyers to traders to investors to even Wall Street about the election results and what it means for crypto. So stay tuned and happy Halloween everyone.

00:15:28
And I want to add the rest of our conversation with Bradley came to the end of this episode. So you have the option to not listen to it. If you want to his politics in crypto again, enjoy. I can't leave this podcast without talking about the low-hanging fruit of the day. Today is election day, man. What are you voting? And and what are you feeling for for the outcomes in the crypto space? I think we live in a really weird really weird. Of history in Ocean is bullish on crypto because I think they both sides in America at least have decided that money printing is fun a lot more fun than not money-printing. I understand why they think that if you're in control the printer it actually sounds pretty great. Right. So I think no matter which direction which direction the election goes. We're going to have a lot more of that and I also just think in general we are in this dude has a couple of friends that are

00:16:28
Running a globally that are benefiting crypto. And I think one of those is that there's just kind of rising instability around the world governments are changing. There's worries about authoritarianism in all this sort of stuff and could do with a great push back against that so there's that happening that Trend happening and then there's also just this bike hyper digitalization like everybody is trapped at home right now all across the world is like living their lives on zoom and digital money digital-native application. All of this stuff that we've been doing in crypto is just I mean, like what better thing than to have the entire world now be forced to live their life on the internet as opposed to a previously it when you could live your life live your life much more in person. So I think we just saw a like a couple of a couple of big trends come together at once that are you know,

00:17:26
shockingly good for crypto, even if some of those things

00:17:31
come to it's always been this hedge a bit against the regular system falling apart.

00:17:37
Good news good news for crypto is falling apart bad news for there's there's there's some good in some bad in there, but for crypto in particular, I think it is good in it also makes me feel a lot better knowing that there's there's a there's an antidote it out without crypto. What would we be doing? What what solutions could we be proposing? So like we've got all these problems could do as a solution. So that's very that's very motivating that if we actually have a we have a past and then we also have a awareness around the world that stuff is broken and breaking and so I think the world is going around looking for Solutions and we're sitting here is a crypto Community being like hey, hey everybody. We had the solution over here look over here now and we've been talking about it for you know, 10 years some of us, you know, and everyone's been like that. I don't know that's pretty goofy and all of a sudden

00:18:37
Yeah, they're actually listening to us because the problems are so apparent now. I mean I can even think back to it. So we started this company in January 2018 and we start our people would say to us, you know is essential ship really a problem.

00:19:00
This will be a comment that we would get from people. It's really a problem and we don't get that question anymore. Almost three years later people will get it. Now, you know, they saw what happened with the social media companies. Yeah, we used to say, you know users need to control their data people would be like like, oh my gosh. I saw that documentary on Netflix. Terrible. We got to do something. You know, we've we've just the world has been I've been so clearly with these problems with the crypto Community has been Community sound a little bit like you're you know, you were like you're paranoid uncle or whatever, you know over the past decade saying like the whole world's going to fall apart are the near the money system is not going to stop working. The internet is turning against you all of this stuff and everyone's been like

00:19:57
crazy young bull

00:20:01
really and now we're not have another crazy about you.

00:20:06
I can tell you right now if we'd there was no crypto. But I guess that's what we doing would be either buying gold or trying to stockpile cans of food and toilet paper in her basement for the barter economy. That's going to be coming up when when when things go really tits up, but I appreciate your your your feedback on the on the election but real real quick last question before it we eat you did say that, you know, the crypto is a head you say that no matter what we would never wins. Do you know that they are really enjoying printing money but you think there's a better option for crypto. Do you think that trumps a better option or biting the better option for crypto? I heard an interesting statement yesterday and they said that actually no sorry. It was Alex mashinsky. They said the best outcome for crypto would be a contended election because then it would throw everybody into upheaval and wanted to protect their assets. What do you think?

00:21:01
Who?

00:21:05
It's a bit of a terrifying thought but I think The Apprentice is probably accurate that you're just having a complete collapse of us system might ultimately longer-term be better for crypto, but I would still rather that we don't go that direction. I would still rather than maybe yes, maybe we goes a little smoother and cuz I still think crypto is on the rise either way. So I don't think we need absolute existential crisis and collapse in order for crypto to go mainstream. I think it's been doing a great job, you know slowly moving forward over the past few years and maybe even quickly moving forward over the past year or two, so I don't feel like we need that.

00:21:52
As a person living in America. I hope that doesn't happen. I kind of know I kind of like how things were so I hope that we don't have that level of instability. But yeah, maybe that's a maybe that's an accurate accurate take
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