i encourage people to buy and hold i encourage
them to say bitcoin for their retirement for their future and that's because as the congress
spends trillions and trillions of dollars and is flooding our economy and the world economy with
u.s dollars there's no way that we cannot debase the value of the us dollars welcome back everybody
to altcoin daily you subscribe because we keep you informed on a daily basis everything going on in
cryptocurrency let's everybody take two seconds smash that like button of course who we just
listened to is none other than senator cynthia loomis a huge advocate for bitcoin and crypto not
only personally into it but also writing policy for it she was just advocating for buying and
holding bitcoin for the long term and again it's not just her rhetoric she's living this and lemus
practices what she preaches she's an investor in bitcoin as well i buy bitcoin and i hold bitcoin
you buy bitcoin oh yeah you have bitcoin i do how much bitcoin do you have well i only have i think
five bitcoin so only five bitcoin but she bought them in 2013 for about 300 each so she can now add
a couple of zeros to that number and wyoming is in the process of setting up its own crypto banking
system that lummus hopes will become a model so in the short term bitcoin is going down bitcoin
broke below twenty thousand dollars and is still just a hair under twenty thousand dollars today
let me know what the price is when you're watching this video but the reason that cynthia loomis and
myself advocate for buying and holding is because the people who have been in the market for longer
periods of time understand this chart where in short term sometimes the bitcoin chart looks like
this but over longer periods of time the bitcoin chart looks like this this is a chart of bitcoin
zoomed out and using the average four year price buy and hold so much is happening in
cryptocurrency let's get to the recent news first up and this is happening tonight eminem and
snoop dogg are performing an nft board ape yacht club themed show on mtv's video music awards the
other side metaverse is set to be heavily featured tonight in the hip hop superstars mtv video music
awards performance tonight so what can you expect the nft scene is hitting mtv hip hop megastars
eminem and snoop dogg are slated to perform a live other side themed show this sunday at mtv's
video music awards the performance which the press release called one of a kind is being developed in
partnership with yugo labs the stage is expected to be transformed to reflect the design studios
metaverse aesthetic and nfts according to the announcement this will mark the first time
an award show hosts a metaverse inspired performance how cool is this literally a first
of its kind performance with two of the biggest stars of not just hip-hop but stars of popular
music in general they'll be showing off things in the board ape yacht club so like what other
side metaverse mutant dapes land plots apecoin these are all things that we can find in the
metaverse and might be featured on tonight's show tune into this and let me know if it's as cool as
it i think it's going to be in other news coinbase is quietly or maybe not so quietly setting
themselves up to be a major powerhouse in crypto even way more than they are and have
been for the past several years check this out coinbase files sec petition calling for
fair crypto regulations yes coinbase coinbase one of the world's largest and most
powerful digital currency exchanges is not happy with the securities and exchange commission
the sec claiming the agency has not implemented efficient crypto regulations the company has
now filed a petition criticizing the sec and calling for fair regulation within america's legal
spectrum yes we all need this we all want this and coinbase is one of the people leading the charge
so this gentleman chief policy officer at coinbase explained in a recent statement that the u.s is
falling behind when it comes to cryptocurrency regulation he stated that many countries in europe
for example were beginning to see official crypto laws being implemented that will ultimately help
the space become more legitimate and mainstream on the continent he says if the us doesn't
get its act together and fails to implement appropriate crypto based laws soon the nation
will fall behind and will no longer be a major financial competitor quote when it comes to crypto
securities there is a significant foundational hurdle that has prevented the market from maturing
the hurdle is the fact that the securities rules simply do not work for digitally native
instruments crypto assets that are securities need an updated rulebook to help guide safe and
efficient practices crypto assets that are not securities need the certainty of being outside
those rules anything short of that will have the effect of entrenching incumbent technologies at
the expense of innovation and ultimately consumers do you agree with this do you think what coinbase
is doing with the sec is needed is necessary i do and then this right here is another primo
example why i say coinbase is quietly positioning themselves so they can be even greater powerhouses
in this space coinbase introduces wrapped staked eth token c b eth will act as a liquid wrapped
token allowing users to move their staked eath why are they doing this well the company says
that it will compete with another major liquid staking platform lido so they see that different
products in this case lido have big market share in the space and coin basis well why can't we do
that tons of people are staking and will stake on our platform why can't we set up a lido like
instrument so people can still use their eat in d5 even when it is staked coinbase announced on
wednesday that it will introduce a token called coinbase wrapped staked eat cb eats cb eath will
be liquid and users will be able to exchange or send the asset elsewhere coinbase notes
that this will help users exit staked eath use the token as collateral in d5
and transfer or gift staked eath coinbase again working with paypal now
to try to push this industry forward paypal joins coinbase's trust network paypal will
work with dozens of other companies on compliance with the travel rule so what are we talking about
here paypal is collaborating with coinbase on regulatory compliance according from a statement
from coinbase earlier this week paypal has joined coinbase's travel rule universal solution
technology the trust network the trust tree with the rest of the trust network paypal will work on
increasing compliance with the so-called travel rule required of u.s financial institutions by
the bank secrecy act this rule requires financial institutions to share information about customers
when those customers make transactions over a certain amount so you know you can have good
feelings about what's going on here bad feelings the bigger takeaway in the positive is that
these big companies paypal coinbase are laying the foundation for the next 10 20 30 years in
cryptocurrency to make it so not just five percent 10 percent of the world owns crypto everybody will
be using it for good or bad they're complying with the rules either way will continue coinbase's
trust network aims to disclose the necessary data while protecting user privacy it will avoid
using a central store of user data and ensure its members are trustworthy through a compliance
and risk management solution and it's not just coinbase several other top crypto exchanges
such as binance us crypto.com gemini kraken are involved in the trust tree alongside coinbase
other firms involved in the network include usdc issuer circle the investment manager investment
manager fidelity digital the stock and crypto trading app robin hood and crypto lender nexo
so i'm just updating you this is what's going on in the world this is what's going on in the
world samsung working yes that samsung working on south korean cryptocurrency exchange so samsung
starting a an exchange in the asian region and you know this is a continuation of the trend this
is not their first foray into cryptocurrency for instance they're making bitcoin mining chips
samsung for instance they are launching bitcoin and cryptocurrency exchanges samsung their
consumer electronics president met with buchelli you know individually are these things a big deal
but all together this is a pattern this is a trend probably something let me know in the
comments my name is aaron sub to our channel we keep you informed on a daily basis
hit the like button see you tomorrow
