The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast - Feb 24: Elon Pegged to #BTC or Getting Pegged? Brave DEX, #ETH #ETP

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Content Keywords: $65,000 Bitcoin
00:00:00
From the group media. This is the record daily in my name is Matthew Aaron today on the show Bitcoin tanks, Jeff Bezos. The richest man on Queen chairs launches. Aetherium ETP. I'll tell you what that means and brave browser now building a text and so much more are coming up today either the Crypt daily.

00:00:27
Good morning, everyone. Welcome to the show. Today is Wednesday, February 24th, 2021. I want to say thank you to everybody who's been sending me emails are DMS on Twitter. I really appreciate you guys reaching out. Tell me you like the show give me suggestions tummy topics to talk about it's appreciated. I don't know if I can get to all of them all the topics that is but if you do reach out, I will always send you an email or a DM back might take some time, but I definitely will send you a DM back Matthew Aaron at the Crypt. Co hear today's prices.

00:00:58
Yurito money talks, and I'm recording this at 11 Eastern Standard Time to get in those top five coins. We have Bitcoin at number one, of course at $49,856 1.6% from yesterday that number 2 at 1660 up 4.4% from yesterday B&B to 5555 up 9.4% and polka dots number 53440 pretty much even from yesterday and cardano broke that $1 barrier at $1.03 up 5.1% total separate 1.5 trillion dollars BTC dominance 61.3%

00:01:42
And what you need to know today Elon Musk is only worth 183 billion dollars. Sorry Elon Jeff bezos's now number 186 billion dollars in Bitcoin has gotten probably paying attention. Tesla stock has been in ludicrous mode since the fall zoon up from $400 or so all the way up to almost $900 on January 26th. However, that their own Bitcoin on February 8th, the price dropped from $863 to $709 and that's around 36 billion dollars less for MUSC himself being a pretty big shareholder in Tesla would wish analyst said that he believed the Tesla stock price is heavily tied to bitcoin. I have a rant right now. Can you feel it coming? Look I tweeted something yesterday everyone same Janet yellen's fast on bitcoin or negative words on bitcoin.

00:02:42
Enterprise in the same Texas price is not linked to bitcoin. They also said that he likes tweet saying it was too high tank bitcoin price. Here's the thing and this is a trade secret for you ever since I started podcasting people who's been in journalism editors people who's been in traditional journalism has given me the same advice when you say the price you need to give your listeners a reason of why the price is doing this or that why is it going up? Why is it going down? And here's the thing. I've never done that because it's all Bs. They don't know and if they do know it's very convoluted is a convoluted thing is not Eli musk tweeted horse. Janet Yellen said it says there's many many many different layers to why the price is going up or down and sometimes this just isn't a reason it's just a correction that the price went down. The fact is is the news media loves to give you these reasons because they weren't clicks. They want you to believe they want you to hear they want you to feel it's because of this and this

00:03:42
Who's broke this news? Sometimes we just don't know so stick with a grain of salt when people say Bitcoin goes up because of this Bitcoin goes down because of this sometimes it's correlated. Sometimes it is the reason only a small fraction of the reason and sometimes it's just good clickbait so far and make sure that you're not buying into it. If you're cooking that Janet Yellen, please make sure that you're clicking it because Jenny Ellen said something you might know what she says not because she actually has control over the Bitcoin price.

00:04:13
Quenchers launches an ETP with 75,000 funds. All right. So what is an ETP? I just learned this 5 minutes ago. So I'm going to let you know there with me I need TP is the Wrigley regularly regularly at the hardware for me. It's a regularly priced security that can be traded during the day on a National Stock Exchange international finance UPS track prices of assets such as these currencies stocks or bonds. This fetp will have a ticker f e r e t h e n o v back by 03 FRS price was just saying roughly sixteen hundred bucks. That's around. $48 is how I think it works ETP stock exchange. You can buy the price of f or you can basically bats or gamble or or invest in F by this ETP on the stock exchange. Hoping that I'll go up and you'll make money and get out your body for $48 or whatever.

00:05:13
Price is going to be and you could do that using your traditional Finance methods. You don't need a crypto exchange or a wallet or anything. You just say. Hey, I want to buy this $48 me get a couple of those and write it to the moon. So if that's how it works, which I'm pretty sure I got this right and if I don't please always correct me if I'm wrong. This is a good way for traditional Finance people to start putting your money into blockchain Tech.

00:05:38
Brave browser privacy based web browser that has around 25 million monthly users. And now it's creating a decentralized exchange for his Bat holders will bat is used with his Brave browser. It rewards its users with bat token or basic attention token really wants to get into the decks Game and Watch that bad to use for things like transaction fees discounts utility for search engines. And for the wallet. They said the quote one of my goals is to make a tokens in crypto easy for all of our users to use be 80 or basic attention token is currently the number 78th and market cap with the 750 million dollar market cap trading at about 50 Cent's I bet this deck is going to give their holders a lot of liquidity a lot of ways to use the big spoon attention token or bat token and reason to switch the brave browser to earn to trade to invest and to engage in this technology.

00:06:34
As you guys know, I like to keep you up-to-date on the purpose Bitcoin ETF the world's first Bitcoin set of exchange-traded fund. I'll just over the weekend in the weekend update. We said it was 420 million dollars will in the wake of Monday's brutal dip the whales came in and scooped it all up. If you have weak hands and drop your little fish the way I was going to put them in their mouth Yum Yum Yum, and they scooped up 52 million dollars worth of that ETF or 1032 Bitcoin how much Bitcoin is now in that UCF 9300 Bitcoin tour 470 million dollars. According to Glass node. What's a good morning folks? If you drop your Bitcoin, there's always somebody there to pick it up regardless of the price.

00:07:19
If you guys remember on the February 22nd podcast I put out I was speculating. I was guessing that the action from coinbase is correlated with the purchasing of microstrategy. I was like, hey, you know what this much money came out of coinbase in Bitcoin and microstrategy just sold this much money. Is it is it is it the same as it is that them buying Bitcoin? Well, maybe it was because they just scooped up 1 billion dollars more in Bitcoin. It's official and now they hold huddle 4.5 billion dollars of Bitcoin with an average price of $23,985 per Bitcoin. How much Bitcoin do they have 90500 Bitcoin which I want to go back to my original point about people telling you why the prices jumped and why doesn't well this news has been announced they pick up 1 billion dollars more Bitcoin and we're sitting at $49,000 when I pump the 60 or 70 or 80. We're just have 49 so why isn't this news?

00:08:19
The price I can tell you if we woke up the $65,000 Bitcoin moving the price up. Well, if I want to hang out a Bitcoin the prices at $49,000, there's many reasons for the price change brightness all y'all grain of salt.

00:08:36
And finally the Fed chair Jerome Powell says in quote. We are looking carefully very carefully at the question of whether we should issue a digital dollar and it's something that central banks around the world are looking at you think you just say there are significant both Technical and policy questions to do with how we go about doing that. I will say that we're committed to solving the technology problems and Consulting very broadly with the public and very transparent lie with all interested constituencies as to whether we should do this and quote and here's my two cents time. I was at into a conversation with Rob Hall the other day he was talking about the digital power cbc's or programmed digital currencies and please pay attention to that word programmed.

00:09:16
Program for digital money is game changing if you can give small businesses or Industries stimulus packages. Let's just say the restaurant business the hospitality business restaurant $25,000 with an expiration date on it. You have to use this $25,000 within a month pump it into the economy your local economy. And so you give him that money digitally and then they pay wages and food and beverage cost and maintenance and maybe throw a party for their staff or whatever and they have to use it within a month and that pumps that $25,000 into a timing and then they give it to all these other restaurants as well. And they do the same. Imagine how that will work. If you don't use it it's gone, but it's program and then at the same time with those transactions be get to be able to hack every transaction and how do you text every transaction just like every transaction right now is taxed for the fee on every transaction in crypto.

00:10:16
You just make her take her fee or transaction fee about the IRS just puts a digital programmed tax on every transaction. So now not only are you pumping money into your local economies the government taking taxes out every transaction of this demos package going to taxes programmable money. You can't do anything without being taxed. So imagine if the government can run a daily budget instead of like what we do now, whatever imagine in real-time purchases what industries who's doing? What what they're spending it on a little privacy if you knew exactly what people are paying for in buying absolutely crazy to talk about the Privacy issue and go into that. I'm at what programmable looks like it. How could we actually use daily budgeting for a government daily understanding of what industries are thriving in which ones are hurting micro and macro Trends real-time and the abilities.

00:11:16
Stimulus to Wallace directly with stipulations with program stipulations you live here here and use it within this time. It could really really change the weight kind of his funds.

00:11:33
Thank you for listening to this episode of The Daily. My name is Matthew Aaron probably back tomorrow until then a couple minutes. Go to Apple podcast, like subscribe Shear Envy was coming again because people confidence to click on the show. If you like the show like content make sure that people have the confidence to also enjoy. I'll see you tomorrow. Happy houghtaling.
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