I'm Scott Schmitz and welcome to today's crypto news hope everybody's
having a fantastic Thanksgiving weekend today is Saturday the 25th of November
2017 and let's take a look at the coin market cap as you can see we're at two
hundred and seventy five billion dollars worth of money in the crypto market this
amazing because yesterday at noon I was looking at this and we're at two hundred
and fifty billion so there is money coming in left and right and at this
pace the end of 2018 it's gonna be a multi trillion dollar
industry so Bitcoin is now $1300 away from ten thousand we're at eight
thousand seven hundred I've been saying to everybody that I know that the end of
2017 Bitcoin will be worth ten thousand dollars a coin and it looks like we're
closer to me being right and then being wrong pretty much a lot of green here
the etherium is up two percent Bitcoin cash is down five for some but it really
makes sense because but you know Bitcoin cash is kind of the inverse of Bitcoin
so you know when Bitcoin goes up Bitcoin cash is really gonna go down ripples up
4% - is up 11% litecoin is up 10% Manero is a 4% neo iota ether classic is up up
up if you are looking for a crypto to get into and you're looking for
something safe that's gonna be around for a while anything over a billion
dollar of coin market cap so be the top 12
as long as they are a currency which most of these are some of them are
tokens like if you see this little asterisk next to it that means that it's
not mine a ball so it's a crypto asset or token but any of these top ones you
will be doing good so let's go over to Bitcoin on the one-hour chart you can
see we've had the last 14 hours let's go over to the Bitcoin hourly chart and you
can see the last 14 hours of Bitcoin have been nothing but green let's go
over to the daily so for the daily we've had 8 Green Day's yesterday was a great
buying opportunity because the Bears tried to turn red but the Bitcoin Bowl
said no saw we know will not allow you so bitcoin was at 80 100 dollars at the
close of the 20 yeah their 24th I'm sorry
now it's up at 8700 I will let you fill in the blanks dot dot dot and actually
do you hear that that is the herd coming the herd is
coming so let's get into some news our first news articles from coin desk and
here's what's standing in the way of a tokenized economy
I'll let you read the whole article but the gist of it is the first part is the
concept of regulatory compliance okay is the point of view that anyone to open an
account using tokenization and then buy and sell assets without them being
approved by a central authority is a mess so let's read here so it says let's
take an example of EU banks that don't deal with US persons as soon as they
accept as customers they have to comply with u.s. regulations and that could be
very painful since US has real power to punish the deviation from the US rules
therefore the risk from having a u.s. customer is much bigger than the profits
from them so here they're saying that tokenization is bad because it basically
wipes away all of those regulatory bodies to you I say when I go cry we are
living in a world economy to where we should be able to go and invest in any
country around the world without regulation of a central body in each
country if we don't do that here's what's going to happen we're just gonna
contact exchanges or kind of like brokers in each company on each country
and they're gonna go do our trades for us here's the reason why they're so
scared of us fidelity Charles Schwab you know all
these legacy places that would handle that now they really screwed the pooch
and they didn't keep up with this they are not set up to capitalize on being
the broker for you well too sad so sad too bad society I'm sorry
little tongue-twister there okay now the second obstacle to tokenization is the
lack of infrastructure and some standard approach to tokenization very often
people associate tokenization simply with the creation of a token on a public
blockchain that's just 10% of the whole process the majority of the rest of it
is a public/private blockchain in and of itself only provides the function of
storing information about that asset with limited capacity to carry out
transactions any complete tokenization system will include an a-list myriad of
casings well here's the real reality of it all of these issues are being
addressed right now they're just not being addressed by the legacy companies
JP Morgan IBM they're being addressed by private companies like salt lending or
populist who will do factoring for you or hive they will do factoring for you
you know or did you bite who will take over your digital assets when you pass
on instead of attorneys so basically this whole thing is the established
elite lawyers doctors politicians bankers are trying to strike fear into
people by putting on an article like this because the reality is tokenization
is gonna happen whether they like it or not so let's move to the next article
Zimbabwean central bank considers considers Bitcoin illegal so zimbabwe
central bank by the way the price of Bitcoin in Zimbabwe right now is already
over $13,000 you know why the people of Zimbabwe don't trust their bank anyway I
doubt that this article is gonna go very far
basically what it shows is the ignorance in the incompetence
of the Zimbabwean central bank if they classify if the government of Zimbabwe
classifies Bitcoin illegal it will put that country back a few hundred more
years you know why it's people are gonna buy more of it okay
so according to the Reserve Bank of Zimbabwe director and register Norman
Machuca the use of Bitcoin is act is not
actually legal within the country's jurisdiction it is not clear however if
bitcoin is just not officially recognized as an authority for
authorized currency or it is totally prohibited quote in southern Africa what
we have done as regulators we have said that we will not allow bitcoins in our
markets if they truly enact us they are going to rue the day that they wish they
would have never said this so for you the people of Zimbabwe your government
has screwed you again congratulations you need to fix some things and on to a
article now where the government is actually doing something lies the
Belarusian president Alexander Lukashenko to sign decree legalizing
crypto currency telling you people the countries that legalized the stuff and
then create an environment through legislation for it to flourish are going
to prosper and the ones like Zimbabwe who just saying that it's illegal are
going to go backwards whether you like ocean core not double
reus is a beautiful country and they have great infrastructure and they know
how to get business done I'll tell you firsthand but the Belarusian president
Alexander Lukashenko Becton to sign the draft decree on the
Belarusian high-tech park that will make the use of digital currencies in the
country awful under the draft virtual currencies in initial coin offerings as
well as mining well already been out allowed in the country while exchanges
can trade rubles for current cryptocurrencies according to the major
Belarusian Information Technology holding firm the bellhart group Igor Mom
& Co the virtual currencies as ICO should before we regulated in order to
protect all players in the market couldn't agree more legalize the stuff
just like we're seeing in America you legalize marijuana you make standards to
it it will flourish because you can set guidelines and they're not these austere
policies that will drive the stuff into the ground getting back to the article
the maximum legalization is needed the existing laws do not prohibit such
activity directly but it is necessary to reform the legislation so that it
protects all participants here's some brief details about the decree the
decree to advance the establishment a focus specific special economic zone of
2005 led to the creation of this and it was modeled upon the silicon valley's
article they want to attract companies Belarus I personally know this because
I've worked with the Belarusian government on trying to do further trade
but quote this decree provides for the introduction into civil circulation of
cryptocurrencies and tokens based on the technology of the blockchain a
comprehensive legal regulation is proposed
so that HTP residents can provide crypto exchange
services exchange cryptocurrencies attract financing through icos
and use cryptocurrencies and tokens in civil circulation did you hear what I
just said this country realizes they don't need
Wall Street they don't need the Nikkei they don't need any banks in London to
finance their deals they will go right to the market by using crypto currencies
so with that I want you guys to remember to subscribe share if you like this
video smash that Bell and thumbs up if you
have any questions comments growth concerns go ahead and post them in the
comment section below I'll get back to my people with that
enjoy your Thanksgiving Day weekend we will see you on the flip side and
remember to practice safe crypto bye y'all
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