billions of people will use blockchain technology
soon adoption in the next four to five years Dan Morehead head of the institutional asset manager
Pantera Capital thinks that there might be many distressed financial sectors in the years to come
but the digital asset industry will not be among them welcome back everybody to altcoin daily you
subscribe for daily videos keeping you informed on the entire cryptocurrency Market Dan moorhead's
exact quote on CNBC Squawk Box the important thing to keep in mind is crypto is such a disruptive
thing it's going to change so many aspects of our lives in the next decade we all are used to
using Bitcoin as a proxy for blockchain there are hundreds of really interesting projects let's
watch this 30 second clip with the prompt and his response Bitcoins down from over sixty thousand to
eighteen thousand I mean or nineteen thousand and you need to be prepared some stocks do that too
I think zooms down more than that but you know obviously it's hard to just assign a clear value
to crypto yeah I think the important thing to keep in mind here is crypto is such a disruptive
thing that's going to change so many aspects of Our Lives over the next couple decades it's in
a secular bull market and it does occasionally get caught up in these cyclical downdrafts of
risk assets but I can easily see a world a few years from now where risk assets themselves
might be still struggling but blockchain's back to all-time highs and doing its own thing
based on its own fundamentals and that story is hundreds of millions of people use blockchain
today I think in four or five years it's going to be literally billions of people and the way to
Value things is supply and demand if you have a billion people that want to buy a fixed number of
coins the price probably goes up cardano Creator Charles hoskinson has also named a catalyst that
he believes could end the cryptocurrency downturn and Trigger the next Mega bull market this
is what he says creator of cardano says that he has identified the Catalyst that would end
the cryptocurrency window and Spark a massive industry-wide I'd rally in a new interview
with cheeky crypto Charlie hoskinson creator of cardano the smart contract platform says that
if the U.S government were to pass the financial Innovation act the crypto markets would begin
a mega Bull Run hoskinson says that the passing of this act would prompt Blue Chip investors to
flood the cryptocurrency market with capital as well as reduce the regulatory risks associated
with investing in digital assets quote I've been through seven bull bear markets since I joined
the cryptocurrency space and this current market is no different it could last 18 months it could
last two years it could end at the end of the year who knows it's Any Given Sunday but if America
passes the financial Innovations act we'd probably see a mega bull market because a huge amount of
institutional money would enter and also all of the regulatory risk with crypto would disappear
if you're unfamiliar the financial Innovations Act was originally proposed by Republican senator
Cynthia Loomis of Wyoming and Democratic senator Kirsten gillibrand of New York in June it aims
to create a comprehensive regulatory framework for the digital asset industry now that's the mega
bullish case that would flood the cryptocurrency market with money that's the mega bullish case
hoskinson however also noted that it's possible for the markets to go the other way if certain
Regulators such as U.S Securities and Exchange Commission chairman Gary Gensler are further
empowered quote if people like ensler are empowered we could see a mega bear Market happen
as a massive amount of litigation occurs in all of these poor entrepreneurs just basically get put
out of business by the heavy-handed government let's go back to Dan Moorhead the CEO of Pantera
Capital he's going to give his thoughts on this scenario Gary Gensler the SEC and his overall
thoughts on the entire regulatory framework of the cryptocurrency space listen what do you
hear in terms of the regulatory landscape in the United States for example and how do you how
do you prepare for that Gary gensler's not going to be there forever I don't you know neither you
know the makeup of the senate in the house who knows but but what do you expect down the road is
it positive that we get some you know we finally understand exactly what regulation looks like or
is it is it going to be a detrimental to crypto when it finally comes well you have to view it
as a glass 7 8 full seven out of the eight big agencies in the US have already ruled on crypto
and they ruled quite early some like the IRS ruled in 2013 and all those rulings are literally the
best possible rulings so the only one left is the SEC it would be helpful if they gave more guidance
on what is the security and what is not a security and hopefully with in the next year so that will
come out taking a look at bitcoin's current price chart look you do not have to buy Bitcoin sub 20K
but I don't get who's selling down here either we're a week away from October and it's all going
to plan we even got the s p to land at a major horizontal support commenters reply guys you have
about another week to tell me I'm wrong in altcoin news Al gorand rallies 27 percent as FIFA launches
its nft Marketplace FIFA plus collect went live September 22nd bringing historic FIFA moments
in the form of nfts to collectors the Genesis drop launched with about half a million editions
will allow collectors to own and trade these nfts Al gorand is the winner here being the official
blockchain platform and it noted a surge in buying pressure Rising 12 percent in a span of 24 hours
good win for algorand in other news again with Charles hoskinson making news cardano founder says
cardano's staking method is better than ethereum on the one hand of course you would say that on
the other hand let's hear him out then you tell me what you think hoskinson shared that while working
with ethereum he found out that while ethereum has a layer one programmable blockchain that Bitcoin
lacks ethereum does fall short in his opinion when it comes to scalability and status as a proof of
concept as a result it is not the most ideal for usage when it comes to large-scale government
level or Enterprise level applications moreover Hoskins and states that ethereum's proof of stake
mechanism favors hypercentralization with poor staking economics this discovery inspired him to
create the cardano ecosystem granting a superior proof-of-stake framework proper decentralization
and staking economics in his opinion you tell me what you think in the comments below to Charles
hoskinson I say it sounds good now let's see cardano start really gaining market share from
ethereum in other news kraken's defiant new CEO will not file with the SEC I'm listening incoming
Kraken CEO Dave Ripley says that his company Kraken does not intend to register with the SEC
he insists that Kraken does not list assets that are securities and says that it has no plans to do
so Ripley currently serves as kraken's coo he will secede succeed Jesse Powell as CEO as announced
this week Kraken will not register with the SEC because they do not list Securities I love it
my question to you is Kraken lists a lot of different coins take a look at your screen Kraken
lists a lot of different coins telling me that none of these are potentially unregistered
Securities or Securities of any kind hey okay sounds good but again tell me what you think
in the comments below speaking of unregistered Securities xrp jumps 44 in a week after Ripple
moves to dismiss SEC lawsuit just updating you on the Ripple case both the SEC and ripple have filed
motions for summary judgment each asking the judge to rule in their favor without a trial finally
I want to share a clip with you the end game for chain link the end game for chain link is for the
network to provide all of the data and computation that blockchains and Trust minimized systems need
but cannot produce themselves clearing the path for a world powered by truth take a listen to
this clip chain link founder Sergey and tell me what you think this is an update on the direction
that chain link is going hope it provides you with value the end game is that Oracle networks
provide all the trust minimized computation that blockchains and Trust minimized systems
need but that blockchains do not produce right so blockchains will produce ownership token
transfer State changes private key signatures multi-sync they will continue to produce all of
these computations in in various collections of blocks whether those blocks are on a main chain
or whether they're on a collection of smaller chains connected to a main chain and and that
is where a certain core logic certain transfer of value certain Key conditions to private key
signatures will continue to become fulfilled but then all of those conditions will
continue to need more and more data more and more trust minimized computation and more
and more cross-chain communication those are the first three big categories that the chain link
network is focused on and then many of them has a leadership position anywhere from the 60 to 90
percent plus range in terms of the value secured in a specific vertical or by user count and this
is because um well we've invented this new form of consensus we've pioneered it together with
a lot of great academics that that we work with um from the top universities and now it's
kind of becoming expanded to do more and more advanced computations more and more advanced
data and soon relatively soon uh cross-chain communication which includes token movements but
actually allows people to string together those uh different contracts on different genes much as
I was trying to string together many different blockchain protocols into a single useful
application many many years ago so this is not I would say a new idea for us it's an
idea that has formed on the basis of what um is needed to build useful smart contracts right
so our goal is to enable the larger industry and the world really to have useful smart contracts
and while tokenization is very useful it's a very good beginning for our industry I think
it is probably a single digit percentage point of the total value that will resign in the trust
minimized systems of our industry like blockchains in order my name is Aaron at altcoin daily thank
you for tuning in subscribe to the channel join our team tap that like button if you appreciate
the daily content and I'll see you tomorrow
