Ethereum 2.0 Explained, BlockFi hack, Bitcoin price, and more! // (Crypto Over Coffee ep.16)

by birtanpublished on August 17, 2020

Ladies and gentlemen people of the internet welcome back to yet another episode of crypto over coffee I hope you're doing well on this fine Friday and looking forward to a long weekend at least if you're in the US now if you're new here every single Friday I break

Down the latest news the hottest topics in the world of technology and cryptocurrency whilst drinking a cup of delicious coffee which I have right here now in today's episode we have an aetherium 2.0 staking and aetherium 2.0

Explained extravaganza if you will plus some finance drama that you need to know about some crypto payments news and a nice little sprinkling of Bitcoin news right in there as well of course we also have our usual 404 logic not found

Segment that's been doing quite well on this series but like we do on the show every single week kick it off today with questions from the community on YouTube and Twitter so I'll head over to the good old iPad and get started with those

Now if you want one of your questions answered on the show next week leave them in the comments below or tweet me out to Shoshi floor I'm always looking for great questions to ask here on the channel if you would be so inclined

Though as well please do subscribe to the channel and hit that little Bell notification button next to it so you can get a heads up whenever I post new content onto the interwebs on YouTube much appreciated in advance

Before we dive into the questions I need some coffee today I think I'm getting coffee from bottomless it's this new service it's really cool and we'll be hearing more about that on the channel but if you drink coffee what coffee you

Drink into you could drink a cup of coffee while while you're watching this episode let me know in the comments I'm genuinely curious all right first question of the day is from Vittorio cutroni

He says hiya show she very nice video as always thank you very much for that material question for you are their software wallets from where it is possible to buy and sell kryptos directly find an unfair

This situation which exchanges can anticipate market moves because of their knowledge but how many cash or Kryptos there are this is a great point totally true in proof of stake environments and delegated proof of stake environments it

Gives exchanges even more power because they technically own the keys to your crypto so they can use it to stake and make money or to stake and get power within networks to then subsequently make money right so you do need wallets

That are self custody that also give you access to exchange features my favorite out there that fits the bill here is the online shape-shift wallet you can use your treasure your ledger I think your keep key hardware wallet to store your

Cryptocurrencies so you own the keys and connect it up to their web app and then use it to exchange crypto that will I use it all the time actually just switched some aetherium over to digi byte like four weeks ago and it was this

A seamless experience so that's fantastic and it allows you use a hardware wallet with it but there are also true software wallets that fit the bill as well the first one on my list would definitely be the edge wallet edge

Wallets a mobile app wallet it's a pretty solid device level wallet that you can use to store cryptos and exchange Kryptos good user interface good user experience overall definitely recommend exodus is another one that's

Really good they started out desktop now have a mobile app I use it on iOS a fair amount that's a great wallet with exchange features built in but I would say my favorite wallet right now even though it doesn't have the widest

Variety of coins out there is ever coin ever coin is a mobile wallet I use it on iOS myself but it has some unique features it does have the normal you know storage features send and view pricing and all that sort of stuff has

Exchange features but what it has that a lot of other wallets don't have is UB key hardware key support so you can use your UB key hardware I have that in here somewhere it's I think is plugged into my computer to validate basically your

Identity to the wallet while using the mobile app right so you can use it to authenticate a bunch of different processes like buying and selling and trading and transferring just so that if someone gets access to your phone which

It does happen they can't really do anything without your UB key hardware so it's not just a password it's not just a pin code it's just another layer of security and I'm shocked that other wallet providers aren't doing it I think

The UB keys are the best investment anyone can make in there personal security online for a bunch of different reasons for two-factor authentication but even for wallets like this it makes every coin and appealing

Solution for me to store crypto that's on a hot wallet on my mobile device because I feel safe and then I have some cold hardware backing me up to protect me so ever coin highly recommend check it out the people behind the project are

Amazing good buddies with Miko who's on Twitter he's always interacting with people on crypto Twitter great guy leave his Twitter handle here on the screen or down below so thank you Victorio great question

Flash QD asks hi mate thanks for another great video thanks very much for watching my question is your thoughts on the coolwallet s benefits and disadvantages so I have one I don't know where it is my office is just trashed

But the cool wallet ass is cool pun intended honestly the coolwallet ass is a for anyone who's not aware it's like a credit card form-factor hardware well at device it has a chip built into it that

Stores your key / keys and then it can be used in tandem with a mobile app which I think it communicates via bluetooth if I'm not mistaken people can correct me on that to sign and passport pass sign transactions that happen on

The chip on the card back to your device to be broadcast so it's very similar to how the ledger nan-oh ex works in terms of connectivity sign transactions on the chip pass it back to the mobile app and then broadcast using a set of api's or

Web services now that being said it's great because you can toss that in your wallet your actual physical wallet and head out the door you can put it in your pocket it's so easy to carry and it's super easy to use and honestly it's come

A long way in terms of being a product that has some recognition people now know about it early on it was it was not marketed very heavily so now it's a great question disadvantage wise I think it's not going

To have all the same hardware hardware level nice to haves that people are used to the screen is one of the like then I ink style screen it kind of small it's hard to use the controls are a little wonky because of

That and it's like a button click button that's built into the card that mean that's a limitation but for something that you use is like an everyday carry wallet and that connects to your mobile it's great and then I think coin support

Could use some work but obviously that's something that could be said for every single wallet so cool wallet ass I like it it's cool I've had it for at least a year now maybe even longer I picked one up when it first came out so great great

Wallet definitely worth a look if you're interested in something for daily carry John Jacob Jingleheimer Schmidt asks thank you for another great video thank you what are some of your favorite projects this is a good one I normally

Don't answer this question but I just put out a video this past Monday with all five of the below the first half of my 10 favorite altcoin projects or crypto projects so I will link that video up here on the screen I think over

Here and in the description below so you can check that out just to give you a bit of a hint I really like a lot of projects but I'm not really someone who looks at a project based on is this going to make me money because I am just

A student of the tech and the crypto prices and stuff like obviously who doesn't care about it who doesn't want to make money right it's not about that but to me projects that people find frustrating because of token price or

What have you like did you bite people who like it's not worth a lot what value does it bring I just think the technology and the ecosystem behind did you bite is really cool I think that the community is really a decentralized

Community I mean Jared Tate I mentioned this in the last video Jared Tate the founder of did you bite the person who created it does not have soul power to just control everything and he's able to now take a little bit

Of a sabbatical from social media take a step back from building the digi bite protocol and leave it to the rest of the open-source community that's doing it and you know work on his own endeavors by applying digi byte to commercial uses

Etc I mean thought that's awesome and if imagine it this way if italic Peter and said I'm stepping away from aetherium it would be cataclysmic people would freak out because he is such an important figure and that just shows you know

Decentralization is a spectrum and the network can be decentralized but the governance might not always be and it's always a mix you know I'm not saying aetherium is bad in that way but it's different I know we're off on a tangent

Now I was talking about did you buy now aetherium but those are two projects that I really like so did you buy an aetherium that would be part of my answer you everyone knows I like Cardno I liked tezo's I think they're staking

Mechanism is solid Algar and has a really good proof of stake algorithm I want them to work more on their layer one smart contract stuff but it's not a bad project by any stretch for me I'm just hoping that we continue to see new

Protocols being created and the existing ones continuing to build so that I get to play with the cool tech and implement smart contracts and applications and build cool stuff with them cuz that's my favorite thing on earth you know and

That's why I like chain link because it's bringing new functionality to a world that I live in which is etherium DAPs I love building things like that I love verifiable randomness that's coming through chain link so a very disjointed

Answer so my apologies for that but you've got some good stuff in there some good projects that I like and stay tuned because on Monday I'm going to be posting another video with my next five favorite altcoins surround out my list

Of top 10 so make sure you're subscribed so you don't miss that video moving on thank you for your question so Hill Mesabi asks for mobile wallets is there any malware anti-virus app that prevents security issues can you please name some

Wallet apps that have minimum fees for exchange coins with considerable options so the second part of your question take from the first answer that I gave in terms of mobile wallets with exchange features those are my favorite ones

Those are the ones that I use routinely I have no issues with fees the only thing I would add to wallets that have good exchange fees would be the cash app is okay in terms of fees it's not the best thing in the entire world because

Yes you can do coin based Pro or all these things that are just not mobile friendly and not user friendly and take forever to release your funds at least so cash app with caveats is a good place to buy

Bitcoin in terms of a good user experience but in terms of your first question is there a good malware and anti-malware antivirus app for phones the answer is in my opinion no mobile antivirus and anti-malware is a really

Tricky subject because quite frankly on Apple devices especially I don't give you the permissions necessary to the device at the level that it needs to like root system directory stuff to really be an anti-malware system

Properly and I would say that in recent years people worry a lot about it but most of the apps that claim their antivirus really aren't antivirus they're actually spyware or malware themselves and so I never install any

Antivirus anti-malware anti anything all my mobile devices because nine times out of ten they either aren't effective and just don't do what they say or be they're malicious and there's a very little way that you can validate that

For yourself I will say malicious apps more often happen on Android because it's just it's a different ecosystem it's a different place to post apps the requirements are stringent but less stringent then I would say on the iOS

Side they are it's really hard to get an app on to iOS it took me took me months to get one approved last year so that being said don't bother with antivirus or anti-malware what you can do though is to protect yourself don't go too

Sketchy websites on your phone don't download stuff from the internet like apks and other things that run code on your device turn off developer settings unless you're using them these sorts of things can protect you and it's a lot

Better than installing an app that you may or may not be able to trust great question thank you i BFP – hopefully that's the way you pronounce it what exchange do you use when it comes

To getting USD to your bank account besides coinbase when you cash out your crypto also great question yes coinbase takes significant fees I've still used it in the past calendar year I can't lie to move crypto off to cash to my bank

That was out of sheer laziness but I will say that my two favorite ways to do that now and people might hate my choices but I use uphold because i ky seed with uphold early on in their existence and I I've always enjoyed

Using their service to be quite honest with you I know people don't like them and in a lot of ways but lately fees have been a lot better spreads have been better I don't really buy and sell on there as much as I do use it to shuffle

Stuff to my bank because their reporting is pretty solid they also have access to precious metals and stocks which is cool so I use a uphold that's a great place in my opinion there's also cash app which is great to move Bitcoin instantly

So if I do a quick Bitcoin buy for example when I do giveaways on the channel I will give away a certain amount I will buy Bitcoin instantly I'm allowed to withdraw it send it to someone else and then vice versa if

Someone pays me in Bitcoin I can instantly convert it to cash without having to wait three days move it over to my hardware or to my bank account or just keep it in Bitcoin move it to Hardware wallet so those are the two

Ways that I usually do it uphold cash app you don't really need to use coin base anymore but quite frankly there are some instances where you just can't get around it so to each their own you got to do what you got to do so let

Me know in the comments below if you had some that you think should be in here that I didn't mention totally fine I want to make sure people get as much of a well rounded answer as possible and that'll do it for the questions again if

You want yours answered leave them in the comments below anything goes I try and answer as many of these as I can but I'm trying to keep these at around 15 minutes for Q&A so that we'd get to the good stuff speaking

Of that I want to start things off with a bit of a bang because my gut reaction if you remember a couple of weeks ago talking about by Nance acquiring market cap coin market cap excuse me was actually correct and very negative I had

This just really sinking feeling that this was not gonna go well now after acquiring coin market cap for a hefty sum of money by Nance has already found a way to manipulate coin market cap this crypto statistics and

Ranking website trusted by millions of users mind you they've now twisted and manipulated it to hype up by Nance itself in the exchange rankings and to me this is just so scammy and unethical to be honest

With you they took a website that made efforts to represent and rank exchanges and crypto currencies using sound metrics as much as we possibly can now they've bought that website and are manipulating it to make their own

Product offering look the best and rankings or at least appear first in rankings which is within their rights but I just it bothers me essentially a coin market cap had originally decided that they were gonna

Rank exchanges by default on their app using metrics of at least a representation of liquidity instead of uneasily easily easily spoofed or spammed traffic online traffic visit counts now Finance has since after

Acquiring coin market cap changed that metric to be in their favor by ordering the exchange rankings now by website visit visit metrics and stuff like that which puts buy nets in the first position now to me this is just an

Unethical way to manipulate a large volume of users who use these rankings to make decisions about where they buy crypto what they buy and where to even look and I understand legally it's their right to manipulate the ranking system

To change it to move it to do whatever they want and this is something that happens all the time but this is kind of like a this is a Google move right it's a put what we want in the first position based on our

Criteria and not what's best for the user coin market cap had its issues but it really was trying to put information in front of people in a way that makes sense and I know people love finance I know people love what they've done for

The space I know that they've done some good stuff for the space but it doesn't change the fact that this is a cheap trick I think it's unethical and I think it's counter to what we do in crypto and what

We need to be doing in crypto and I have to say it when I feel it so that's the first place that I wanted to go but I also wanted to pivot to aetherium 2.0 because I've been getting so many questions about aetherium 2.0 like what

Is it very first first and foremost what is it when can we expect it what does this mean what do I have to do so let's talk about that now so first and foremost I want to hit the biggest question and

That is what is aetherium 2.0 in really really succinct and simple terms a theory of 2.0 is a brand new aetherium blockchain that's seeking to improve the scalability and reliability of the network without sacrificing on security

Now this also means that this is not a hard fork and no new coins are going to be created rather when a theory of 2.0 launches initially in maybe July or after of this year it'll be totally separate from the existing aetherium

Network that we all know today which will dub aetherium 1.0 or the proof of work chain now this brings me to the how how is etherium trying to achieve new levels of scalability without compromising security well they're

Taking a multi-faceted approach which has a lot of complicated pieces but I'm going to talk about the two highest level solutions here that you need to know about now first they're implementing proof of stake as an

Alternative to proof of work the consensus mechanism we have in aetherium 1.0 now aetherium was built after Bitcoin which uses proof of work which is fantastic it's it's very secure it prevents Sibyl attacks quite well

Because the juxtaposes a large amount of sunk cost against potential rewards for block validation in the network this dissuades attacks like 51 percent attacks by making the cost of those attacks extremely high because you have

To waste a ton of energy and resources in order to participate even in block making activities now this also means though that it's slow and costly and obviously becomes a bottleneck for transaction throughput through the

Network so we had to come up with a different mechanism by which to reach consensus disincentivizing attacks and incentivizing positive network activity now it's also worth saying that aetherium has needed to move away from

This because their adapt network they need large transaction volume that's executed from smart contracts and so they really had to make this move they couldn't have left it the way it is now proof of stake on the other hand which

Is where going uses a more economical approach where Network participants who wish to validate blocks of transactions stake a position in the network or a portion of their total wealth in the form of the

Network coin so in this case ether now they try and win the rights to validate blocks based on this stake which will help them earn rewards if they do get that right to mine a block now in many cases the more you stake the better

Chances you have of getting that honour of validating a block and what keeps the network secure in this case is people's inherent valuation of self-interest those with the largest wealth in the network and the largest stake have the

Most skin in the game and will likely not want to rock the boat for lack of a better term and end up being punished and having their stake devalued or taken away now both an incentive is in place here to make the network continue on

Without a hitch because they have lots of wealth in the network they want the network to be successful but also those who stay can dock maliciously in the network forfeit that stake that they've put up so if you have a thousand ether

Staked and you're mining blocks and you're mining blocks but you're creating blocks and validating blocks and you're found to be shipping malicious transactions you lose that a thousand ether right that's a huge disincentive

And obviously it scales up with how much stake that you have so for big stake is this is a heavy hit to take for minting one bad block or doing one bad thing of the network now it essentially makes the risk versus reward for an attack

Completely lopsided on the risk side of the spectrum one thing to note though is that the minimum stake value to become a validator within the etherium 2.0 Network when it goes live will be 32 eath and you will have to run a

Validator node to do so I think you'll probably be able to do that on a desktop computer nothing crazy but that's just something to note 32 ether at this point right now is around 6,000 US dollars so the barrier to entry is still small

Compared to what it could be and what it originally was but it's still pretty large now there will soon be a way to migrate your ether that you have right now on the current aetherium network over to 2.0 at launch via a deposit

Contract which basically just a lock-up contract that locks your ether on the 1.0 chain and moves it over and credits you on the proof of stake chain 2.0 now proof of stake alone can make a network more

Efficient and scalable look at tezo's for example but it's not enough on its own to make a network truly scalable into the future right so therefore aetherium is relying on sharding as well which is another technique used for

Scaling it's even used in enterprise tech a ton already now in essence if you think about a blockchain it's basically one contiguous or canonical chain of transactions every block is appended to the previous block all in order and all

Transactions have to go through one queue basically you have a mempool and transactions go into it miners pull it they run proof of work they put it into a perspective block and then one wins anything that didn't get minded to that

Block goes back into the queue to be processed later you can make it faster for your transactions by upping transaction fees but the issue is is you still have one concrete block that you can fit everything in on a certain

Cadence and so the network can get end up getting backed up the more data and more information is being pushed in transactions which happens a lot in the theorem with smart contracts we saw that with crypto kiddies so everything that

Happens in that blockchain sits in that one stream in a sharding environment on the other hand instead of transaction processing happening in one single stream by one single group it's broken up into several mini blockchain networks

That all have their own contiguous stream of transactions so you have smaller quicker networks that are all validating transactions independently and then sending a proof where at the station of the total information package

Of what's happening on that mini chain up to a main chain which is called the beacon chain in the theory of 2.0 so think of it like a bunch of little mini block chains reaching consensus and then reporting that consensus back up to the

Beacon chain in this case for aetherium 2.0 where the overall network state values are kept now aetherium is moving to something that's more stateless but let's just leave that on the table for now it's not

Important to this conversation so now you can have multiple streams that share the burden of transactions coming through the pipeline and what's interesting is that aetherium 2.0 z– spec or their

Specification for this whole protocol it stated that there will likely be 64 independent shards on the etherium network when this goes live and this is down the line probably next year in 2021 probably when we see sharding happen so

You're not gonna see a 64 chain crazy sharding mass in this year it's gonna probably be next year so this brings me to the ultimate question that I get constantly when can I expect this to go live and I think the answer doesn't

Really have any real clarity but it's an estimate in my opinion so here's the deal what's called phase zero is going to go live sometime this year tentatively July of 2020 maybe a little after but it's not gonna be fully

Functional it's not going to be the full if the RM 2.0 chain itself what's going live in phase zero is the beacon chain so that new aetherium 2.0 main chain with proof of state capabilities that we just talked about it'll be ready now to

Test live now this new aetherium chain will be largely useless for any purpose besides staking at this point and the etherium chain we have today the 1.0 proof-of-work chain will continue to be the main aetherium network for now four

Dabs and transactions now once the theorem 2.0 is seeded with around five hundred and twenty thousand ether staked across the network and sixteen thousand or so validators in the network rewards for staking will start

To kick in and the Genesis block will be created for the new aetherium 2.0 chain at this point that will lay the groundwork for phase one which is really where features start coming in to make the etherium 2.0 chain useful and so at

This point it is not until 2021 when we start to see sharding and other functionality starting to come in for aetherium 2.0 to make it more equivalent in terms of functionality to aetherium 1.0 which is where we are right now so

If I had to put an estimate out into the world I would say we see by the end of 2021 at least the minimum viable product minimally viable proud for aetherium 2.0 with sharding and proof of stake and transaction abilities

In 2021 by the end of the year that's what I think and I know that was a lot of information like a lot but it's a high-level introduction I guess or an understanding of what's going on with aetherium 2.0 and what you can expect

Going forward so let's pivot to some news in the cybersecurity world a US District Judge just recently denied AT&T its request dismiss a high-profile case where they're being accused of negligence in a sim swap attack that

Resulted in the theft of 1.8 million u.s. dollars worth of crypto from an investor named Seth Shapiro the basis of this case is that AT&T has acted negligently and failed to put proper safeguards in place for its customers in

Terms of high-risk cybersecurity issues like sim swap attacks Shapiro in response to a prior sim swap attack that happened before this main one that resulted in one point eight million dollars in losses had requested AT&T

Block any and all sim swap requests that are done without his express permission now I'd assume he said he wants any sim swaps to be done in store with a valid ID so AT&T can be sure it's him now in response to this request AT&T assured

Him it would be taken care of now after this request was affirmed he was the victim of yet another sim swap attack during which the aforementioned funds were stolen that's a lot of money to be stolen now this is not the only

High-profile sim swap case being brought against AT&T either and it exposes the level of gross negligence towards safeguarding customers from this huge huge ubiquitous attack vector that's now evident in the world of cellphones now

By the way I just want to tell you this is not exclusive to AT&T and so when I say AT&T in this case this is just some of the high-profile cases but all the cell phone providers have their issues and I've created a guide to protecting

Yourself in the event of a sim swap attack so if you're interested in that I'll link it up in a YouTube card and down in the description below so you can check that out to learn how to protect yourself from a sim swap attack now I

Hope that these sorts of events and I hope that these sorts of legal proceedings start to incentivize and really light a fire under the ass of the cellphone providers to finally take this seriously and finally put real

Safeguards in place the first thing that you need to do is take away the ability for customer service representatives at phone lines like at customer service you know Depot's everywhere from being able to sim swap remotely customers

Might be annoyed that they have to go into a store but at least then you can validate someone's identity in the store and have only single people within that I guess that organization be able to even change your sim the issue now is

That you have inside jobs happening where people inside the organizations are swapping sims against the rules and that just can't happen now in other news the giant ecommerce platform Shopify recently just announced an integration

With a well known crypto payments platform aptly named coin payments the partnership will bring an unprecedented amount of access to cryptocurrency as a payment method for millions of customers and a similar number of e-commerce

Stores will finally get the ability to accept crypto online with cryptocurrency as a payment method being hit or miss these days I have had really heard a decrease in the total amount of information about crypto payments and

The a lot less buzz about it in the first place this could finally bring spark back to reignite that excitement about this use case now coin payments platform currently allows for nearly 2,000 crypto currencies and upon

Integration with the core payments methodology behind Shopify that will be 18 hundred or so crypto currencies available for customers to pay in on these online stores I'm telling you this is awesome news and I think people

Aren't looking at this yet as an arbiter for adoption but it very well could start to get more usage of cryptocurrency into the mainstream it might not bring new users but new use case into the mix alright ladies and

Gentlemen it's time for 404 logic not found but first a pause for coffee for those who are as of yet uninitiated in this little firecracker of a segment I highlight notable tech related fails or otherwise stupid moves in the world

That need to get some attention and speaking of attention you can help this video get some attention from the YouTube algorithm by clicking that like button on my behalf thank you very much for that in advance let us begin with

The sad sad story of block by block 5 was the victim of a massive data breach recently not of their cryptocurrency stores or their wallets but of their users personal data which really means that the real victims here are the users

Of block V whose information is now in the hands of nefarious actors now take a wild guess how this hack occurred a really expensive break in a lost admin password a tactical team storming the server room no sim swap an employee had

Blocked by was sim swapped and subsequently used that stolen phone number and email account to access the employees systems this hacker was smart and used the easiest way to get access to a system a sim swap which goes back

To our original point with this access hackers made away with block fly users emails names addresses another personal data that could be used to extort them target them for hacks and etc this is woefully horrible and ridiculous this

Entire thing it gives more and more credence to the fact that sim swaps need to be addressed first and second collection of personal data should be regulated out of existence once a user is KY seed for the necessary proceedings

Legally their personal records should be wiped out or stored as ciphertext only decrypted by users private key or password it has been proven time and time again and personal information is not safeguarded adequately and it needs

To change block fight did not do enough to secure this information that is just a fact one employees information gets stolen and they were able to access everything and pull it that can't happen even more

Disappointingly as of the time of recording this block files yet to tweet about this breach to disclose to their followers I haven't seen a strapline pop up on their website linking to the disclosed

All I've seen is this PDF document linked up and hosted on WordPress outlining the breach it's gotten news time but otherwise I wouldn't have heard about it I don't feel personally that this is a

Responsible disclosure of this hack because they're not going out of their way to tell all their customers what happened and how to react to this it means that they're trying to bury the story in my opinion I'm not making an

Accusation I'm saying how I feel it's not good 404 logic not found and speaking of not good Craig Wright the self-proclaimed Satoshi Nakamoto creator of Bitcoin guy fell into yet another dumpster fire in the wake of news about

A dormant Bitcoin wallet from 2009 suddenly moving 50 BTC this wallet hasn't been touched since it was mine shortly after bitcoins Genesis of course everyone expected right to come and chime in and claim it was him to prove

That he's Satoshi but instead hilarity ensued Craig Wright's number one confidant Calvin Ayer tweeted shortly thereafter the news broke and kiboshed any rumors that this was Craig Wright who moved

That Bitcoin claiming Wright denies involvement ironically enough in a lawsuit currently being undertaken regarding Craig Wright's identity as Satoshi Nakamoto the address from which that Bitcoin was moved is listed as an

Address Wright claims is his now one of the accounts he has subsequently claimed in court that he has lost access to is again that same account that's now in the news though this is a quandary for Wright at this juncture because he's

Claimed in the past that he can't move Bitcoin from that address but that it is his account now if he did in fact move that bitcoins he would be lying about his inability to move the Bitcoin and if someone else owns that account and is

Now moving the Bitcoin he'd be lying that it's his account the only instance in which he could be absolved of any guilt of being untruthful in this is that if the private key was brute force or stolen in some way leaving him as the

Owner who has since lost his keys and is now a victim of stolen Bitcoin so only in the case that someone stole his private key moved his Bitcoin without him knowing means let's be real it's probably unlikely but it

Means that we were wrong he's totally right now we'll see how this plays out but man you gotta love when the truth is completely in question across all scenarios is the key his is it not his did he move the Bitcoin

Did he not did someone steal it who 404 logic not found why even claim it why even claim it now speaking of Bitcoin I promised that we would sprinkle some Bitcoin on this episode and here it is first of all 10k looks like a really

Tough not to crack for bitcoins price and now that I said that will probably break through that barrier shortly I'm probably the worst indicator out there however I did read an interesting article that noted a statistical

Correlation between minor capitulation and dropping minor profits in response to having and bullish directional prices right so basically miners capitulate and minor profitability goes down and that shows that we're at the bottom and now

Or bullish from here so essentially the hypothesis is that when mining profitability drops and miners capitulate this is usually an indicator of the price bottom from which things reset and begin to trend back upward now

While I can see the statistical significance in the data that they proposed I think this is a crappy indicator personally I don't think there's much credence to this I also don't believe that there's an accurate

Bottom to predict in this case because of the state of the world right now and the fact that mining is in a much different place than it has been throughout previous having's I've said it many times but I think the

Data we have from the past is not going to be a surefire indicator for what's gonna happen going forward from here as a result of this having so time will tell but I take this one with a grain of salt

Minor capitulation is not necessarily a sign that we've hit the bottom permanently now folks if you missed my top altcoin pics video that I posted on Monday please do stick around and check that out I'll link it here on the screen

And of course thanks so much for watching and until next time have a great weekend Cheers

Related Videos

Hello the Republicans and welcome to another video of my cryptocurrency news series where I'm looking at the news that happened last week now today's 28...
What's up crypto gang welcome back to another episode if you guys are doing here we do a giveaway at the beginning of every single episode and today's w...
What's going on guys crypto jeremy here back with xrp video hope you guys have a fantastic day thank you guys so much for tuning in to another video and the...
What's up guys kevin cage here just wanted to do a quick market update on this monday so as we can see ada ada is down 11 today we noticed that it is coming...
Hello the Koopalings and welcome to another video in my cryptocurrency event overview series the aim of the series is to find any upcoming cryptocurrency events...
Ladies and gentlemen people of the internet welcome back to yet another episode of crypto over coffee hope you're doing well today and if you're new her...
Hey guys welcome back so first of all I want to start as usual by thanking everybody who's been liking subscribing and sharing my content you're helping...
Hi i'm brad garland house the ceo here at ripple it's an honor and really a privilege for us to be one of the founding members of the international asso...
Hello the cubicles and welcome to another video maker of the currency event over the series the aim of the series is to find any upcoming the currency events an...
I have to apologize to everybody because I've been promoting a company who only has their best interests at heart top salesmen best interests at heart and n...
It is Monday and you know what that means another episode of Krypto segments what's going out everybody it's your boy Krypto Bobby I hope you were havin...
What's going on everybody Alex back was another cryptocurrency video but today we're going to be talking about how to control yourself how to emotionall...
Hey guys welcome back first off I want to thank everyone who's been liking subscribing and sharing my content you guys rule and I appreciate all the constan...
Live from the USA hoping you get paid every day this stuff boasts a Bitcoin the crease though of creeped up is avoid BK and if you don't like me you must no...
Okay come down here boom that would be picture-perfect beautiful guys look at this we actually have this candle come down right on this line right here right ab...
Wow you guys are going to want to check this out guys as you may know Bitcoin has decreased a few hundred dollars as of about midnight last night we have some i...
What's going on guys crypto jeremy here back with xrp video hope you guys had a fantastic day thank you guys so much for tuning in to another video today&#3...
Hello tokens and welcome to another video nice update now today's third of June and I'm looking at news that happened from 28th of May until today I alw...
hello it's Brad Lori or blockchain Brad and today we're speaking exclusively with icon many of you know it you've known it for years and they'r...
People what's going on this an update on Tron all right so the market right now market cap is 431 billion we've got a Bitcoin dominance roughly 34 perce...