The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast - Feb 16: #BTC 50K ๐Ÿš€ #MKBHD, #ADA $28B Market Cap

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00:00:00
From the Crypt media. This is the decrypt daily and my name is Matthew Aaron today in the show. You probably already guessed. We're talking about Bitcoin. Also, we're talking about Justin son and his legendary marketing tactics that's coming up today on the decrypt daily.

00:00:20
Good morning, everyone. Welcome to the show. Today is Tuesday, February 16th, 2021. The only thing I found our mind is the Bitcoin price. Let's get those prices.

00:00:31
The original Money talks and I'm recording this at 11:08 Eastern Standard Time Bitcoin is sitting at $49,077.42 up 2.8% from yesterday, but we all know that Bitcoin crashed through the $50,000 Mark coinmarketcap says the all time high was $50,341.10 while coingecko says 50560. They got pushed up past the $50,000 Mark I news of microstrategy selling convertible senior notes how much you might ask six hundred million dollars worth of convertible senior notes to buy more Bitcoin. Do they need more Bitcoin? We all need more Bitcoin and apparently Michael Saylor is feigning jonesing craving for more Bitcoin. Yes Bitcoin hit the $50,000 Mark and Bounce-Off came back down. It's in that 14. I like I said every time you hit a ceiling, you know, there's more room to grow. I can very much see Bitcoin going back up. Well past the $50,000 Mark to meet Michael sealey.

00:01:32
Seems like somebody that just can't get enough Bitcoin. I guess if you keep winning with buying Bitcoin, you just keep buying more six hundred million dollars more of Bitcoin when he makes a purchase is going to be a very half the amount so far. All of his Bitcoin is worth 3.5 million dollars. Remember he only spent around 1.5 billion dollars in Bitcoin making around 2 billion so far in profit and he's looking to make a hell of a lot more than $1,777.02 down 2% from yesterday, like going to 1005 up .8% down 5.28% in xrp 53.2% down 5.7% Total market cap for the purple space is 1.49 trillion dollars up 2% BTC dominance. 61.4% Cardinals making masks games as well as she does a lot of cryptocurrencies making mass of games, but cardano they went past the $0.90 mark all time high for car.

00:02:31
I'll just slightly under $0.91 at 90.8% for smashpass 28 billion dollar market cap. They don't seem to be slowing down either. I guess on the Ebbs and flows of the market cycle chart. I guess we should all be asking ourselves. Where are we at currently for me? I think we're somewhere between optimism and belief when you see the media and big names coming into the space. We have believe we're nowhere near in my opinion thrill or Euphoria, but we are definitely in optimism, and I think we're just hitting believe.

00:03:07
And moving on to other headlines Justin Sun Justin Sun how old Justin sign the founder and CEO of Tron denies pain celebrities to promote Tron. It was just coincidence. He says that Lindsay Lohan tweeted hashtag TRX is also a coincidence that Neo, you know, the R&B singer from the 90s 2000 also tweeted hashtag TRX and Lil yachty also tweeted about Ron and he absolutely had nothing to do with the email that was sent to MKBHD YouTuber also known as Marques Brownlee to promote Tron Justin Sun would never ever do this Justice on tweeted there have been rumors that lie of third-party celebrities being paid to promote Tron Tron Foundation is not involved with these activities nor is the foundation aware of the actors behind this if you haven't seen the video that MKBHD just released about those Queen explained He also mentioned

00:04:07
He also shows you the proof of the email from Tron or somebody who represents Tron or associated with the community who reached out to him to try to get him to promote Tron. There's an interesting YouTube video he put out. I followed MKBHD quite a long time and I think he's very stand-up guy about what he promotes and who he Associates himself with he usually just pretty straight on his job. He just does tech reviews on YouTube check out the link in the show notes read the article and take a look at the video by MKBHD interesting Insight on some marketing practices within the crypto space.

00:04:44
The chain analysis 2021 crypto crash report which can be found in the show notes found that 55% of all Alyssa crypto funds those acquired through scams or ransomware or used in darknet markets are laundered through just five exchange services using approximately 270 unique deposit addresses and significant sources of money laundering exchange activity. I want to see a chain analysis is doing some good work here every time of government or regulatory body comes out and says it's used for this they come out with number saying well, maybe some cases. Yes, you can see it but the vast majority of the vast vast vast majority are still using Fiat and they're calling out the culprit the people who are harboring this illicit activity and saying hey you want to do something about it go get them. We're being cool go get them. That's what needs to be done. So we have stability in this market. So people aren't scared of crippled.

00:05:44
And the use cases behind it because again the vast majority is just used for transacting in building a new framework for infrastructure for a financial services.

00:05:56
Eunice WAP today became the first decentralized trading platform to process over 1 billion dollars in cumulative volume units back in May of 2020 has racked up an average of 11.1 billion dollars in trading volume month-over-month if you guys don't know is a text but he centralized exchange basically operates on Smart contracts. It doesn't have a centralized service and I was any company and I'm a user to issue or swap your C20 tokens on their platform and exchange and trade with each other because it's decentralized is really no governance of who or how coins to be listed when you're working with centralized exchanges. There's usually a laundry list of requirements to be on disability because I didn't want to be in non-compliance to any government regulations didn't want to list game coins or any coins that are going to their customers. They also want to make money. So if your volume

00:06:56
Decentralized exchanges you don't really have to worry about that. There's definitely other things to worry about but there's different rules decentralized exchanges.

00:07:05
And finally Tesla board member is a director at 2 cryptocurrency companies a member of Texas Board audit committee that approve. It's 1.5 billion dollar Bitcoin purchase is a director at these two companies and think gracias the founder of investment firm Val or is it director at Petco and Eris X some experts say that there could be potential conflict of interest Bill Clepper was a professor of management at Columbia business school said if there's any direct conflict in appearance of that you better stay arm's length away from it. We have to find out whether or not he's acting in good faith. It's in the lack of transparency that you find people to begin questioning your ethics. Well for the trip to space and Bitcoin space, I hope there's no conflict theory black who was a private investor and former Goldman Sachs executive exited his Tesla position setting that is crypto purchase was risky Capital allocation.

00:08:01
Thank you for listening to this episode of the decrypt daily. My name is Matthew Aaron. I'll see you tomorrow and until then Happy Halloween.
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