hello folks you have reached the
cryptocurrency portal and today we're
going to go over little information
about Bitcoin and you can see here that
the Krakken CEO says the Bitcoin and
crypto interest is surging behind the
scenes with everything that's going on
in the world the coronavirus the economy
in the doldrums interest is surging
behind the scene so let's kind of go
through this together says despite the
economic downturn induced by the corona
virus pandemic cracking CEO Jesse Powell
predicts that Bitcoin and the crypto
industry as a whole will perform well in
the months ahead in an interview with
Forbes howl reveals that while many
companies are laying off workers the San
francisco-based exchange is increasing
its staff by nearly 10 percent due to an
uptick in interest in cryptocurrency
market at large
ever since the corona virus surfaced in
China his quote is we saw once the news
really started to break they were
getting a lot of new signups it's been
it's kind of been a bit of a ramp up
just over the last few weeks every day
we're seeing more sign ups case requests
more people funding their accounts and
that to us is a signal that things are
heating up that we need to start adding
more staff so what do you think folks
let me know your thoughts in the comment
section below because this is an
interesting leading indicator what
people are thinking out there they're
afraid with what's going on the economy
in the world the - they're thinking long
term is like let's get out of the normal
process and maybe get into crypto
currencies so continuing that says
Powell says that both the crypto
currency and traditional marcos have
their share of retail investors who made
trades on the web and that Vic Wan has
remained relatively stable with the king
coin rebounding by thirty percent plus
last week and the his quote is if you've
been living in Bitcoin for any amount of
time you're used to this level of
volatility you just give your life on
the roller code you just live your life
on the roller coaster and what's
happening Bitcoin now is not that
extreme for Bitcoin what's happening to
the rest of the world that seems very
extreme
by comparison so true so thank you for
that nugget from Jesse Powell the CEO of
Kraken so continuing along I'm kind of
like the Bitcoin a theme 1 million
dollar policy covers Bitcoin aetherium
crypto holders against catastrophic
failures one of the things why the
average Joe doesn't get involved one who
doesn't understand cryptocurrency in
general but they don't understand how
their money is safe because they can't
see it and touch it so this is pretty
interesting individual Bitcoin aetherium
and cryptocurrency holders are looking
for a way to protect their holdings now
have the option to secure an automatic
policy offering up to 1 million dollars
in the event of catastrophic losses coin
cover which is a uk-based risk
management provider is offering a new
policy through voids of London for civic
wallet users users who sign up for the
Civic's digital wallet will
automatically be popped it in to the
policy now according to coin cover the
offering will provide protection for
civics hot wallet hot wallets are
typically used to settle cryptocurrency
transactions including trades purchases
and remittance payments by staying
connected to the internet they remain
exposed to potential hackers unlike cold
storage solutions to protect long-term
crypto holdings offline now think about
how many people are working remotely for
their their jobs and their home
computers probably don't have the same
security systems there their employers
do so a lot of people are increasingly
exposed because they might be doing
these trades on their own computers so a
coin cover guarantees coverage up to 1
million dollars per wallet against
catastrophic losses and the quote here
is in the event that a business with
coin cover deposit protection guaranteed
ceases operations due to a business
failure catastrophic systems failure or
catastrophic data loss that results in
its customers being permanently unable
to access funds in their wallets the
deposit guarantee scheme will access and
recover funds on their customers bf
Civics CEO vinny Lingam says it's new
coverage is an industry-first
or hot wallets and the quote here is
civic is now the first and only non
custody custodial crypto want to offer a
1 million dollar digital currency
insurance policy free to all users to
protect their crypto holdings I mean
think about that globally I know there's
some custodial holders there's gonna be
firms like coin cover here and other
firms over time that is people out there
start seeing the headlines that there's
insurance behind all of this
people will start feeling better about
the crypto market Bitcoin etherium and
crypto entrepreneurs are making a push
to attract mainstream users by offering
consumers a new way to move value around
the world and to retain the value of
their assets based on math and
cryptography crypto currencies function
in stark contrast to traditional fiat
currencies such as the Euro and the US
dollar which are routinely subject to
fiscal measures political tactics and
monetary policies that can adjust money
supplies interest rates and change other
critical terms overnight through impact
liquidity and for the damaging economic
effects of kovat 19 now according to
Civic the coin cover and Civic Alliance
and cryptocurrency protection guarantee
represent continuous efforts from both
coin cover and civic to provide
consumers with peace of mind as they
enter into the crypto space in greater
numbers the timing couldn't be more apt
the world economy is shifting rapidly
falling apart and governments have taken
emergency measures to stabilize global
markets including cutting the interest
rates to nearly zero and for crypto
holders navigating the economic
turbulence a civic wallet with a coin
cover cryptocurrency protection
guarantee provides an additional layer
of protection now to finish this out it
says civic is rolling out its private
beta to a list of pre registered users
and says it plans to announce new
features in future versions of the
product the wallet will allow users to
store and buy digital currencies
including Bitcoin aetherium and the
join us DC by linking directly to the
app to a bank account and users any
specific in specific regions will also
be able to send crypto and money to
friends and family via user names or
addresses to other blockchain wallets
the company says a user can easily gain
access to their wallet in the event that
they lose their phone so let me know in
the comment section below what you think
about this development in the crypto
space
alright so continuing on the Bitcoin
theme I just thought this one was
interesting because it says PayPal
evaluating blockchain use cases after
the CEO reveals he owns Bitcoin that's
the part I thought was interesting that
PayPal CEO says he owns Bitcoin we won't
go through all of this because it says a
new job listing posted by PayPal shows
the payments giant is looking for a
director of anti money laundering and
blockchain strategy as the company
appears to be exploring how it can
harness the power of the emerging
technology that's great but this is the
part I want to key in on a few months
ago in an interview with Fortune PayPal
CEO Dan Schulman revealed that he
personally owns Bitcoin and in June of
last year
PayPal joined Facebook's digital asset
project Libre however it quickly changed
course and withdrew from the Libre
consortium months later becoming the
first member to leave the controversial
project which has faced backlash from
regulators around the globe Schulman
says that the company out of Facebook's
project after determining that PayPal
could make more progress on financial
inclusion by focusing on its own
initiatives and his quote is as we learn
more about Libre and saw the amount of
things that were still left to do and
the amount of things we still had to do
on our roadmap outside of Libra we said
you know we think if we can focus on our
own room app we be able to advance
Financial Inclusion faster than if we
put all of these resources against Libra
so let me know what you think of this
little development where you think means
that PayPal CEO owns the coin and I'm
going to put in the comment section
below
a link to some Libra and Facebook
and Facebook some videos that I did
going over that issue as well check
those out
so next it says coinbase CEO says
Bitcoin and cryptocurrency
were built for moments like this the
economic crisis going on in the world
he's tainted Bitcoin has been built for
moments like this coin base the leading
cryptocurrency exchange in the United
States and honestly I bet by nansuk us
we'll catch them soon because by Nance a
globally does a lot in I really believe
it's easy over there in finance
they held a virtual staff meeting to
update its employees on the company's
strategy during the Cova 19 pandemic
during the session the CEO Brian
Armstrong said bitcoin is made for this
type of crisis the world is currently
facing toshi nakamoto's main motive for
creating BTC some speculate was to
establish a new financial system with
greater resiliency now just so you know
I've actually done a video about Satoshi
Nakamoto at the original white paper
which we all know was the genesis of the
crypto Revolution I will put a link to
that video in the comment section below
now following this the quote is the good
news is that bitcoin was built for this
Bitcoin is amazing it's global it's
flash and proof it is digital it's the
money that people need right now in this
moment
Armstrong knows that the United States
and governments around the world are in
the process of promoting massive
expansions of their country's
perspective my supplies was stimulus
packages and bailouts to combat the
economic fallout from the pandemic which
the United States has already done in
three phases and his quote here is just
about every sector of the economy is
really struggling manufacturing people
don't want to go to factories if they
can't social distance and retail has
been decimated yeah look at what
happened with Macy's they've furloughed
130,000 people just tragic travel is
really struggling we might even see some
of these investment banks and needing to
be bailed out so in some ways it's
incredibly lucky that we're a tech
company able to continue to work at all
because almost every sector of the
economy
has really been struggling so what does
this actually mean in prime practice
well when you put a bunch of more money
into an ecosystem and the number of
goods is not really going up
manufacturing slowdowns that means over
time there's gonna be higher prices
there's basically going to be inflation
and what when that happens people try to
look for alternative investments that
are inflation-proof that basically have
guaranteed scarcity baked into them so
that is a great case for Bitcoin in
other asset classes real estate and
things like that that are hedges against
inflation Armstrong also compares the
current state of crypto to the early
days of the internet crypto is going
through all these growing pains it needs
to become more scalable it needs to
become more usable for the average
people and that's how we're gonna get to
a hundred million and billion people
that's the infrastructure that coinbase
is really providing so that sounds like
they're ready they've scaled up their
operations when the switch is flipped
and more retail investors and the
average Joe gets involved they're ready
the CEO says the company's vision is to
provide economic freedom for every
person and business out there
economic freedom means sound money for
everybody it means property rights it
means free trade it means you can goes
to work at the company want to work at
start the company you want to start
we're going to use cryptocurrency at
this unique moment in history to go
build a more open financial system that
creates economic freedom for people all
around the world now coin based plans to
usher in the next phase in global
finance by executing three broad steps
number one further enabling crypto
investment number two connecting the
crypto economy initially by offering
coinbase account holders a variety of
payment and commerce products and number
three growing the economy at large by
supporting crypto development with all
the rapid changes in turmoil stemming
from the corona virus outbreak however
the CEO says and media expectations need
to be tempered there's a new top level
priority
your family should prioritize putting
yourselves and safety that's the number
one priority here here I completely
agree with that and we also just need
make sure that we can maintain business
as usual during all of this some of our
ambitions around 2020 may need to scale
some of these things back and given this
new reality so so true mr. Brian
Armstrong from coinbase let me know in
the comments section below what you
think of his thoughts on this so the
last thing I want to go over is this
Bitcoin investors move millions in BTC
shifting away from cryptocurrency
exchanges I felt this coming and it's
coming so says new on chain data
suggests Bitcoin investors are paying
close attention to their funds amid the
recent crypto crash and rising global
economic turmoil according to the crypto
analytics firm glass node cryptocurrency
traders are withdrawing their BTC from
exchanges at a rapid rate and moving it
to private wallets bringing the amount
of BTC on exchanges to their lowest
levels in approximately eight months
despite the volatility Bitcoin holder's
appear to be withdrawing their funds
from exchanges so you can kind of see
outflow has been increasing daily since
March 18th according to these labels BTC
exchange balances are the lowest they've
been in eight months you can kind of see
that drop-off there are a number of
potential explanations for the mass
exodus of bt from exchanges traders may
be one choosing to maintain custody of
their own assets without the middleman
two deciding to hold on for the long
term and cease trading or three
concerned about the liquidity of a
crypto exchanges amid the market
downturn and the move of course
coincides with hey
surge in the creation of new bitcoin
addresses so that's the only thing I
want to go over with you there was just
interesting hearing seeing that data
from glass node of course we anticipated
this you kind of feel this was coming
let me know in the comment section below
what you think so thank you folks for
tuning in to the cryptocurrency portal I
deeply appreciate it if you liked this
video please smash the thumbs up button
really helps out the channel helps out
with those Google and YouTube algorithms
and also hit that Bell notification
button as well because I upload almost
every day and you'll be notified when I
upload
my next video and as always leave any
comment you want in the comment section
about this this video or anything crypto
related I tend to respond to all all
comments because I like getting a
discussion going about this great crypto
space so thanks again for tuning in to
cryptocurrency portal I'll talk to you
real soon
[Music]
you
you
