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!
