 Welcome to Digital Asset News, the top stories in crypto, current digital assets. Man, break them down into bite-sized pieces today. We've got one big story. And I didn't think it was that big when I first read it, but it led me down a rabbit hole that I just couldn't shake. So this starts off with Ripple's Garling House, says China Leads US in Crypto Regulatory Outlook. And this one article sent me down this rabbit hole, which took me from everywhere from B Chain Nodes and Rewards, PricewaterhouseCoopers, Tim Draper, Walmart, even the Telecommunications Act of 1996 and how it all relates to the internet. On top of that, it took me all the way to Alex Machinsky and why blockchain is going to swallow up the entire internet. And finally, it led me to Donald Trump. So this one article just led me down, like I said, this huge rabbit hole and it had huge ramifications moving forward. Also, Cointelegraph figures out that there are scams on YouTube. Amazing. And that will lead us to Scam the Day, which we'll go over after these two stories. But first, let's take a look at yesterday's video. So in yesterday's video, I introduced you to a product called Shield Folio or the Stonebook. And I just at random picked out a winner and it was actually Jason Moore. And all I just said is, hey, if this looks like something you want to actually have, just give me a shout out in the comment section. And Jason did just that. He says, I want a Shield Folio. So a lot of you did. I really appreciate everybody who commented. So Jason is the winner. And of course, there were some happy people that said, you know, hey, congratulations, whatever else, but speak your mind. Have my favorite quote where he says, Lucky bastard, which is true. Jason's, he got lucky. And he won that, that Stonebook. So congratulations. If you haven't seen the Stonebook, it's pretty cool. It's essentially made out of stone. It has these paper or this paper that is really resistant to a lot of different things such as, you know, tearing, tearing it apart because I've even tried. Even like when you rub your hand over it, it doesn't really do too much or actually anything at all. And it's water resistant. It's not fire resistant because I actually took a took a page and able to burn it. But I mean, for all the things that we've done to like hold on to our seed phrases, all the things that we have for a cryptocurrency wall. It's this thing is pretty cool. And also has this thing called a ghost pen, which allows you to write invisible and then you just kind of, you know, shine that thing over it. So it's pretty cool. So this product, I didn't know this thing actually existed. The owner just reached out to me and said, hey, can I get to a giveaway? And then off, you know, here we are. So there was a lot of requests for more information. I didn't really have too much on it. I mean, it's pretty, you know, self-explanatory. But I think I wanted a lot of people actually want to have this. I reached out to Freddie Hernandez. He's the CEO. And I said, look, Freddie, there's a lot of requests for this book. Can I get a discount code for all these people? It's not an affiliate code. I don't get anything for it. But he said, yeah, just take this code and I'm going to link this in the description of this video. And when you click on that, it'll take you to the actual website. It looks something like this and you can see where is it? Our story. Go down here. Add to cart. So it was 50. It's on sale for 35. Then with that discount code, it takes them like 29 bucks. So not too bad. So if you're into that, you know, go ahead and check it out. I'll link in the description. But let's move on to today's top stuff. So first up, what's going on with the market? It is Sunday, July 19th. And not much is going on. Bitcoin's Bitcoin. Just hanging around 9100. Ethereum 234. It's kind of depressing. I was kind of hoping it would actually go up to, you know, above, you know, the 244 mark. But here we are. Tether's Tether. XRP is XRP. Bitcoin Cash. What are you going to do? Cardano. Hang on to that sixth spot. Look, it's like around 12 cents. Bitcoin SV. Still in the top 10. No idea why. Chainlink. It looks like it's, you know, dropped a little bit. I mean, had a magnificent run. I think it was like $8.56 or 64 cents or something like that. So now it's a reasonable 787. So Chainlink had the little dip. What are you going to do? Litecoin, Binancecoin, and so on and so forth. Nothing really fantastic. Even the Darling, which was VeChain, even took a little bit of a hit down 2.5%. So Sundays are kind of like always like this. And then leading into Mondays, you know, off we go. So we'll see. Anyhow, let's break into this, this article. We've got a lot of things to go over. So first up, Ripple's Garling House says China leads US in crypto regulatory outlook. So what's going on here? So there was a Chamber of Digital Commerce Parallel Summit on July 17th. This was Friday. Actually went to their website just to see what was going on. And you know, it has all these different speakers and it's already passed. But you can sign up. And I think they're going to do a replay of all the different people that were actually there and were actually on stage. So I'll follow up and see what I can get. But it looks pretty interesting about what actually happened. But let's break into the actual article so we can get. I'll look at Itoro. I got to tell you, Itoro not my favorite. A lot of problems with them. Anyhow, so the article goes on. Where States Garling House express admiration for China's approach to the crypto space. And he says, and he's pretty much in awe of what's going on. So he said, I think they being China, they're realizing that some of these technologies may in fact be very foundational for the future of how financial systems work. And they want to make sure that they have capabilities at the heart of them. So the question gets asked, well, if you have regulation and you have the government laying forth and saying, OK, this is a security. This is a commodity. And they pretty much separate it. Does regulation give entities like institutional investors confidence? So the rationale that Brad gave, Brad Garling House gave when he mentioned Bitcoin and Ethereum regulatory classification as an example. US regulating bodies came forward in 2018 and 2019. And they classified Bitcoin and Ethereum not as securities, but as commodities. Such rulings now give companies and individuals more confidence and participation around those assets. And it makes total sense, right? As soon as these things start to happen, you would just see institutions kind of slowly creeping in. They're like, oh, it's not a security. So it's going to be actually commodity. There's no way not to go through all these different hoops and everything else. Sure, we'll get into it. And that's why you see lies these different institutional investors getting into the fray. Because look, they're like, this is a commodity. I'll have to do all these different things to actually have it. So when I was thinking about this, I go, well, if you've got Ethereum and Bitcoin, those are the only two right now that the government has actually kind of gave the green light to for whatever reason. So imagine this, imagine if there was another coin and it was classified as a commodity. Because right now, no one really knows. No one can really say, you know, what is a security? What is a commodity? As a matter of fact, Ripple's XRP is going through the regulation or the process of trying to figure out, is it a security? Is it a commodity? If the courts ever come out and go, you know what? This is a commodity. I mean, it's going to be, you know, huge green day for everybody. No, the opposite could happen. I don't think it will. But if it does, it could be, you know, pretty detrimental for Ripple and XRP, even my portfolio because I do hold XRP. But let's go back. Let's say right now that the government comes out and goes, you know what? That V-chain, that's pretty good stuff. Just a commodity, no big deal. So if they listed V-chain as a commodity, first of all, you know, what is V-chain? What has it all got going for it? So this is from V-chain Insider. And if you don't know V-chain, there's been a lot of talk about it. And I used to own it. And I can tell you right now, it looks pretty good. It's looking much better actually as time is going on. So there's two types of token. V-chain token or VET, and there's the Thor. V-chain or VET is a store of value. Thor, you need that to interact with a blockchain. Think of it like gas. That's essentially how I kind of look at it. Gas for the blockchain process. There's two types of nodes. Authority nodes, nodes are used to validate. The authority nodes are used to validate all blockchain transactions. There will only be 101 authority nodes. They need dedicated hardware and need a minimum of 25 million VET. That's a boatload. Economic nodes are not validating blockchain transaction but offer stability to the ecosystem. You only need a million VET, only a million. No hardware is required. Just place your VET into a traceable wallet and use the V-chain to throw a mobile wallet and go to rewards and upgrade to a node. Great. So here's where it gets interesting about V-chain. Because I was just thinking of it. I was just kind of thinking out loud going, what if V-chain was a commodity and I started to take a look at it a little bit deeper? Then I just saw this. I go, hold on, wait a second. It says currently, multiple companies, for example, DNVGL and PWC, Price Waterhouse Coopers, have come forward announcing that they are holding an authority node. And I was like, what? I never heard about that. And this was like not anything like reason. This was in 2018, Price Waterhouse Coopers. Now it's a joint business relationship with V-chain Global Technology Holding Limited. And I was like, okay. And then when I was searching for this, because I was searching for Price Waterhouse Coopers and V-chain, then this little thing came up where the V-chain Foundation on Twitter made a public. They say, hey, we see eye to eye with our investor, Tim Draper. We're going to have the future of cryptocurrencies and use a blockchain solution. So I'm like, okay, Tim Draper's, if you don't know him, he's kind of like one of those clairvoyant people who are able to see a lot of things out in the future. Now has he picked 100% winners? No, nobody does. That's impossible. But he's had some pretty good runs, such as Skype, Overture, Baidu, Tesla. That wasn't a bad one. Hotmail, Twitch TV. And he also found V-chain. So when we're looking at these other things, I'm always looking at what is smart money doing? What are they investing into? Because I don't run in these circles. I just don't. I don't know if you do. And if you do, that'd be great because then you can give me some more information. But when I'm trying to figure out what is the next big thing, I kind of try to look at where is the smart money going? Not what they're saying they're doing, but what they're actually doing. So if I can see Tim Draper in here, I'm like, okay, maybe this could be something very big. So we got that. On top of that, this has also been a news. Walmart China subsidiary teams up with V-chain to trace food products. So looking pretty darn good. So anyhow, when I was just going down this little rabbit hole, I was just thinking to myself, what if it wasn't just Bitcoin and Ethereum, and they were classified as commodities? What if you could have something like a V-chain, like a Cardano, like a tomato coin, or whatever else it is? How much would that coin go up when that actually happened and when the US government actually got off their tail and did the thing that they're supposed to be paid to do which is set forth regulation because at some point we're going to need these types of things and actions to actually happen to move forward. And if we don't, US keeps falling behind and it seems like the world is kind of... I used to think that the world would kind of sit around and wait for America, but that's not how it's working. They're just going to go ahead without us and that's just how it goes. Technology moves pretty quickly. There is no reason that America has to set the tone for everything. So I mean, that's why China is moving forward. That's why Europe is moving forward. That's why Africa is moving forward. That's why Australia is moving forward and everything else is moving forward except for America because the problem is they can't get regulation right. They can't get it done in time and people are just going, you know what, if you can't do these things, we'll move to another country and we'll do things outside and that's what's going to happen. I can tell you when America did do the right thing which was for the internet, you know, decades ago. We'll get into that in just a second. So moving forward, today because of the mining control of Bitcoin and Ether in China, these are technologies controlled by China and look, if you're a miner out there and you're probably screaming at the screen, well that's not true because we're a mining pool and we can go to anyone we want to and yes, I understand that. If you're in the mining pool, you can go to a bit main. You can go to some other different mining pool outside of China and that's fine. The thing is though, and I've talked to different miners out there, it seems like these mining pools that are centralized in China give the cheapest rates because they get the cheapest electricity right now. So why would you go anyplace else if they give you the cheapest rates for all the cheapest things you can and you keep your costs low? I don't understand that part. So if someone knows them, I don't. Please put it in the comments section but there's no reason unless you're nationalist and go, you know what, I'm just not going to work with China because I do not believe in that and that's been sure, but I think a lot of people are in this in just for the money and they're looking themselves and going, you know what, that province of China or that different mining pool gives us the lowest rates for electricity. I'm going to go with that and that is also a problem. Now hopefully things from like layer one which is located in West Texas can get their act together and they can actually start to produce what they're supposed to do which is electricity for less than a penny for a kilowatt hour. We'll see that actually comes about. Moving forward, Garling House said 25 years ago the US was a leader in making the internet what it is today but part of that came from regulatory clarity he added and I never really realized that because I was around when the internet came about and I remember just it just kind of happened because I was a younger kid and I didn't really know what was going on but now that I'm able to a little bit older and I can look back and I'm thinking to myself what is Brad talking about here? What is he saying that the US did back then as opposed to what they are not doing now? So I take a look and this was a article titled a brief history of internet regulation. I will not bore you with all the stuff because it's very long. Let's just go over one thing which is the Telecommunications Act 96. The Clinton administration remember that guy? He brought with it a very specific view the administration brought with it a very specific view of the future of telecommunications. It saw the potential for an explosion in information services and believe strongly that relying on private investment and markets would be the best route to promoting innovation raising investment capital and managing the uncertainties about the shape these future services would take. So if you take a step back and you look at what the internet was and what it could potentially be this part of the government got it right and they say you know what we have to step back because it's a huge innovation there's going to be a massive amount of things that are coming forward so we don't want to hinder this we want to get out of the way of it and just let it actually happen. This is a great idea right? So the problem here with government it's not that that government right now has actually stepped in and said no we don't want you to do this or this or that the problem is of inaction and when you have inaction you have uncertainty and when you have uncertainty you have different problems with the market and things just don't know where they can go and then it just kind of flounders and I think that's what's happening so before this was actually a good thing because it actually took action and did the right process and that's the problem so let's move on it applied this perspective widely for example it argued in international fora that the internet did not belong in the province of the international telecommunications union since it was different than standard telephony it made sure that the government's structure of the internet remained in private hands those of the user rather than being moved to government decision makers it took steps to facilitate internet commercialization but the most important manifestations the Clinton administration was the telecommunications act 96 the 96 was the watershed event that marked the end of the telephone age this is a key to remember this the end of the telephone age and the beginning of the internet age in the public policy realm today we regard the convergence of telephones television and the internet as a fact of life in 96 when I was around it was considered a futuristic proposition let me tell you when the internet came out we're like what the heck no one had an idea what it was gonna do what it was gonna be we thought actually and I swear we thought the government would control it because we were thinking ourselves no one's gonna let that much information out no one's gonna allow this to actually happen and of course they actually did the right thing and said you know what we're gonna do hands off and then here we are so hopefully moving forward we can get a little bit more clarity and we won't have all these problems but we'll see so back at the article the Ripplehead talking about Garlinghouse said the same possibility for advancement currently exists around blockchain although the U.S. has not jumped in the opportunity pointing instead to its focus on other technology like 5G and that's the truth right now I mean we have a bunch of different bills being brought forth to Congress this year so hopefully there's a lot of action however Congress is a big massive waste of energy they seem to not be able to get anything done so I'm not holding my breath but we'll see so there's two things one let's look at smart money and see what they think is going on and we're gonna take a look at Tim Draper and Alex Moshinsky and two I want to take a look at the current government's view on Bitcoin, distributed ledger technology and everything else that's going into this space so first up we got my man Tim Draper and he's gonna talk about just how far in advance or just how early we actually are and what's going to happen I think it's important to just take a step back and just realize everybody here you who are watching this video you are super early and some people say no you're not you like in the later games that's ridiculous you are super early this whole thing you are at the very beginning of the internet essentially I know they say well it's been around 10 years nothing's really happened in 10 years it's been a bunch of white paper the 2017 parabolic bull run you know people were investing in paper, white paper, nothing vaporware it was absolutely zip so when I talk about these types of things like these are the days when things are actually happening this is the beginning of the runway so let's take a listen to Tim Draper for two minutes and he's gonna tell us where things are gonna go and I like this guy's thinking so let's take a listen we were very excited and we funded a lot of companies and the internet transformed communications and information and gaming and entertainment media but now we have new technologies and they start with bitcoin this magic technology that has somehow allowed us to have a trusted global currency that isn't tied to any political force and it's open, transparent, global frictionless and the technology that built bitcoin also has other applications so for instance the blockchain allows for a perfect ledger it keeps perfect track of money or it could also keep perfect track of data and a smart contract a contract that's built into software so you don't have to define whether different words mean different things we all know where the money goes and so smart contracts could end up being really a very important part of commerce and business going forward and then on the other side we have all this data and data is getting more and more important as we can do more and more things with it and as data evolves and people do this deep learning on the data they can create artificial intelligence they can create an intelligence by making judgment calls based on the data and the smart learning or the deep learning they've done well if you start combining those technologies they're bigger than the internet ever was you have the ability to transform insurance and well not just banking and commerce and finance it's things like insurance and real estate healthcare, government all of these things have the potential to be completely transformed and this is the time and I feel like those industries are 10 to 100 times bigger than the industries that were affected by the internet so we're in a big opportunity listen to what he's saying healthcare government finance real estate and he didn't say it but supply chain so all these different things he's talking about this is why I invested into these types of things so if we just look back at CoinGecko I'm just going to go over what I hold I hold Bitcoin because it's the first and I think if it's not going to be an actual currency because for whatever reason and it becomes a store of value so much the better great, Ethereum we can use that for smart contracts and just like he was talking about healthcare and real estate and if he's talking about finance decentralized finance I mean Ethereum is one of those ones that can be a juggernaut that's why I'm into Ethereum and as far as like banking that's why I have XRP because I think that at some point we might want to do cross-border payments and this is one of those that could actually happen now is that going to happen? I have no idea but that's why I invested into XRP Bitcoin Cash I just don't get it I mean we have Bitcoin and maybe we can use this for currency but I just don't I just didn't see it Cardano if Ethereum doesn't work out I think Cardano is another great one as far as what we're going to talk about as far as smart contracts and some really smart people that have a lot of things going for it and they just launched a mainnet so I'm all about it so one of these is going to work out Bitcoin SV don't get it Chainlink for all the smart contracts that we have we have to pull in data from outside because blockchain needs those types of information from outside as far as like pricing and finance even like temperatures and weather information data whatever else you have to pull in Chainlink does all those things with all these different formats or blockchains that are smart contracts I think smart contracts are what's going to drive one of the next bull runs Litecoin don't see it Binancecoin if I had the opportunity I'd probably invest into it but I got my limited spots and Binance is going to be huge just don't want to go into it Crypto.com sure maybe EOS that is another smart contract that's why I invested into it Tezos same thing Stellar if XRP doesn't work out I think Stellar is going to or I think Stellar is going to be one of the ones that could do it OKB don't get it Monero I mean if you want to do private transactions that's just not my thing so but I don't know if private transactions are going to be that huge maybe well maybe it won't but it's not my you know specific thing and I only invest in things that I think that I would actually use and actually are going to be mass for everybody this could be something for everybody V-Chain I see that you know tremendous type of a thing especially for like like fraudulent activity of different types of products or produce and things like that so V-Chain I can definitely see it and especially me being the medical field previously I can tell you that there is a lot of different things with medications that they need to be tracking a little bit more safely as far as like recalls and different manufacturer problems so V-Chain I can definitely see Tron that's why I invested in all those different ones and that's what I see so when I want to see about where things are going I try to look at where smart money is talking about and where things could be and that makes sense and the last thing I want to talk about is Alex Machinsky because remember here what we talked about 25 years ago the US was a leader making the internet what it is today and the article we talked about telephony and telecommunications Alex Machinsky here is the CEO of Celsius and he is the creator of VOIP or Voice Over Internet protocol so every type of thing that we do as far as like even like Zoom where we have like communications or audio over the internet this is the guy that created it and he sees what's going to happen in the future so let's just take a listen basically in the voice mail business I had PC based voice systems that processed voice communications and I realized playing with the internet back in the early 90s that voice is going to be free voice is going to become an application on the internet even though the internet at that time was really it was all dial up the internet was an application AOL and the ringing exactly so the internet was an application on the voice network and I said no you don't understand the internet is going to become so huge that the voice network is going to become an application on the internet and today we're going through the same thing so you mentioned VOIP to VOIP the blockchain and cryptocurrencies are the future thousand times bigger and more powerful than the internet because it requires much much more processing power and the largest network always wins so I know it's going to be very controversial but I'm saying the same thing happened with the phone network collapsing into the internet the entire internet is going to collapse onto the blockchain because people think that the blockchain is a feature of the internet but really the blockchain is like a black hole it's just going to suck everything it's like internet and we do it's even bigger than the internet and we hear that a lot like this is but it's hard to imagine that that's possible and how just like 25 years ago it was impossible to imagine that this silly idea of a voice of IP is going to be bigger than the entire phone network so we always live through that we underestimate the impact of technology in five years and then we'll see how much it impacted our life and it's always much more than we thought so that's why I invested I think that's why you're here watching this video and I think it's a reason why a lot of people are talking about cryptocurrency that's right now because they realize that it's early and this could be and I believe it's going to be bigger than the internet ever was so we will see and just talking about Celsius real quick in the description of every one of my videos there is a link it looks like it looks like this and it's going to take you to my exchange of wallets fees and different descriptions and this is all the things that I actually use right now what I recommend and what I don't recommend and we go through everything from Coinbase Pro to Gemini to Abra Uphold SimpleSwapKraken and for most of you who are not new to the channel you've already seen this but for those of you who are just watching initially this is just something that I put together when I first got in I thought Coinbase was it like that was all you could ever use and you can just take a look at the different fees compared to everything else and you can see why that Coinbase if you're just new to it use Coinbase it's super simple but if you're and actually I'm not going to say that Coinbase is simple but if you download the Voyager wallet it's just as simple and super slick and it's free for it's like it's zero permission free for Robinhood so I mean that is my one-two punch right now I use the Voyager wallet app to buy and sell cryptocurrency then I transfer to Celsius because it gives you different yields I mean high yields like 8% sometimes between 6% and 8% just for holding your cryptocurrency in their wallet and I think it's awesome and that was Alex Machinsky who was just talking so up above here you can go right to their websites and you can sign up at $25 so you know whatever you want to do and this leads me to my last point so we talked about what is going on as far as like 25 years ago with the internet and then the the government how they kind of got out of the way they got out of its own way but now we're going to take a look at what's going on with this current government and I think the problem is in action and Trump if you if you like him or hate him or love him it doesn't matter it doesn't matter what the condition is and it's making it a little bit difficult so Trump views crypto as a threat and I don't think he's ever talked positively about it maybe he has in private I have no idea I don't know the man so I don't know to tell you but regarding cryptocurrency it proposes this was a proposal from Trump's new budget plan and it it proposed returning the US Secret Service to the the Department of Treasury this established of Homeland Security in 2002 Trump's budget states technological advancements in recent decades such as crypto and the increasing interconnectedness of the international financial marketplace have resulted in more complex criminal organizations and revealed stronger link between financial electronic crimes and the financing of terrorists and rogue state actors and I think this is why Coinbase has sold an analytics platform to the US Secret Service so they can use it and monitor those types of things and that's not coming from me that's coming straight from Coinbase so yeah anyhow that's just one part of Trump Trump also you know tweeted not too long ago this was on July 11th which I must say was actually last year but this was his tweets he says I'm not a fan of Bitcoin and other cryptos which are not money and whose value is highly volatile and based on thin air unregulated crypto assets can facilitate a lot of behavior including drug trades and I'm not going to read the rest so I'm just letting you know that right now the current government that we have is not too keen on cryptocurrencies digital assets and I hope that as time moves forward they can understand you know how powerful it can actually be and just realize that hey we have to get regulation in place so institutional investors can know what the heck is going on so they can actually get in the game and we can all prosper that's all I'm saying alright let's move on to the next story next up we'll make this quick Cointelegraph says hey 38,000 people are watching your fraudulent v-chain YouTube scam right now which is pretty funny because they I mean it's not funny there's a scam it's just funny that they actually put this out and they said hey there's a scam going on there's a scam and they kind of tell you about it but they don't tell you what to do about it they just say there's a scam don't get involved which I guess is good on this channel we try to like tell you what it is and then go to that scam and then report that scam so you can actually but I'll give it I'll tip my hat to Cointelegraph at least they actually talk about it you know some people just bury their head in the sand like oh this doesn't exist which is crazy there's way too many scams going on out there I don't know what the heck is going on but it seems like there's more and more every day anyhow to some of this whole article they says is this too soon checking the wallet address on the v-chain explorer shows that just three people so far have actually sent funds at time of writing so just over three wow 320,000 vet have been deposited and shockingly no tokens have been returned that's pretty funny so hey at least people are understanding that hey these are actually scams hopefully we had a part in that and then other people who have helped out so great I hate seeing people getting screwed over out of their money because there's just no reason for that anyhow to finish up it says who are these people that keep letting greed overtake their common sense and perhaps more pertin pertinently why does YouTube let these scams continue for so long when it regularly shuts down Cointelegraph live streams for being harmful content and that really is the crux of that whole article why is YouTube shutting down Cointelegraph for harmful content but leaving crappy different scams up that screw people out of their money left and right great question Cointelegraph no idea so that will leave us to lead us to scam of the day so that's it for today's video but if you got a couple minutes stick with me let's go over scam of the day so scam of the day why do we do this well first of all in the description of every one of my videos there's going to be a link it's going to look like this when we click on that link to scam of the day it's going to take us this nice little Google spreadsheet and we started this in January and this because I was so sick of people getting screwed out of their money and I just wanted to educate people to make sure they didn't lose their harder money and you work hard for your money it would suck to lose it because you get you know you're doing a pretty good job there's just some that are kind of lingering around so let's see what we got for this is our latest one and it's Mellonhead it's still up I can't believe it so what are we looking for in a scam because you don't you can't just take my word for it right I'm just some guy who's a YouTuber who likes to talk about cryptocurrency and just because I say that you know this gargantuan headman is a scammer doesn't mean anything maybe he's just a regular dude and I'm just a hater so first thing we want to do is we want to take a look at the comments section because you know sometimes the comments section will tell you what's going on Droplet said this is a legal asymmetric giveaway very true not so smart as your face this is a scam but I think there's other people say that it's it's not but maybe I'm wrong anyhow so a lot of people say it's a scam but again maybe everybody's a hater so what are we looking for here what we're looking for is an asymmetrical giveaway so let's just fast forward this and what it says here is hey to verify your payment address just send us from a thousand to ten thousand XRP and you'll get ten thousand to a hundred thousand XRP back that sounds good but that doesn't exist because that's a scam so I mean really no one here's the thing just remember this you are not special no one's giving you money no one likes you that much so just let's just be honest so if you treat everything like a scam your life will be a heck of a lot easier so when you're going about your business and you think hey maybe CZ Binance has given away free money just send an email to Binance and go hey I saw CZ Binance giving away free Bitcoin is that true that's how you know and then with XRP you can go right to their website and go hey are you guys giving away free XRP that's how you know I mean any place you want to go to Microsoft it could be anybody that you see in these scams just send them an email usually takes about 24 hours and they'll tell you no so that's the big thing and that's the easiest way to avoid a scam so what do we do here how do we get rid of this nonsense so we're going to downvote and we're going to click on these three dots and we're going to report remember three dots report and what are we doing we're going to say this is ridiculous this is spam we're going to choose one this is scams and fraud we're going to say next and we're going to say hey this is a scam and whatever you try to say be respectful just say you know just be a matter of fact and that's it so that's all you got to do so if you do that I really appreciate it thanks so much this guy's got 2,500 views hopefully not so much XRP has been lost but hey you never know so that's it for today's video I want to say thanks a lot for sticking with me I really appreciate it and that's it if you like these videos I'm going to be a couple more they're going to pop up on your left and right and I will see you on the next one