 Welcome to Digital Asset News at the top of the story. We're using Crypto, Currents and Digital Assets and break them down into bite-sized pieces. Today, that's a pretty interesting stuff. First up, this is shocking to me is that PayPal reaches 85% of Binance US volume in the first month. And in real actuality, it's not even the first month. It's been like a couple of days also. One of the founders of the world's largest hedge fund came out to say this, governments are going to ban Bitcoin should it become material. And there's a couple of things that I actually agree with and one I don't. In conjunction with that, Raul Powell from Real Vision and ex-Goldman Sachs VP states, here's what will happen if the US tries to ban Bitcoin and he uses a great analogy of gold. Also for all my European viewers, let's talk about Plutus. I don't know much about it and I'm not recommending it right now. However, it allows you to earn 3% in the Pluton token. It's a decentralized exchange for your fiat to cryptocurrency and you get to control your own private keys. And lastly, just real quick, go over the DanTeaches Crypto free website. I made a couple of upgrades and some changes. So we'll go over all that but first take a look at what's going on in the markets. So today to Sunday, November 15th, it is 10 a.m., trying to get this done so I can go out with the family to Galveston, go soak up a little ocean time and let's see what we got today. So Bitcoin is above 16,000. Congratulations, we did it on a Sunday, which is crazy because usually on Sundays, you start to see some pretty big to mild dips but hey, here we are, all above 16, we'll take it. Up 0.48% for the week at 300 billion almost market cap, looking good. Ethereum, 456, not bad. Tether's Tether, 17 billion. XRP up on a little tear, 27 cents. Chainlink down at half a point, what are you gonna do? But in that fifth spot, so not too bad. It's really kind of pulled away from the market and Chainlink is at 4.9 billion. Bitcoin cash at 4.5, and also, I believe Bitcoin cash has a hard fork, so let's see how that works out between Bitcoin cash and Bitcoin ABC. I think Bitcoin cash is gonna be the primary chain and the other one's gonna die off, but I could be wrong. Polkadot's up a percent, $4 and almost 450, so not bad. Bitcoin SV down a point and a half, when arrow 1.2 up, 1.4 for Tron, watch out. Eh, what else we got? Anything good? Cosmos 0.5, wow, Uniswap, above $4. Everybody's in profit, congratulations to all Uniswap holders. Well, maybe not everybody, I think it's gone about $4, but that was the original price. I'm pretty happy, never sold, never will sell, like what they did with the community. Ave on a huge tear, up in the top 30, 53% for the week, 8.3% for a 24-hour timeframe and it's one of the big DeFi contenders. I like it, I'm going to invest into it. What else we got? Ooh, 7% up for Synthetix, that is a wild one. Synthetix is what, it varies wildly. I can't get into that, even though it looks pretty decent. You're in finance up again, eh, whatever. Compound and Uniswap, something going on with the governance token, looks like they're going to be one of the big players, so they're up 14.5, 37% for the week. We'll see how that works out, but Compound's the one I'm really looking into, but I just haven't pulled the trigger because got to do more research. All right, that's what's going on. Let's take a look at what's going on with today. So first up, that was pretty cool. Already PayPal reaches 85% of Binance US volume, and this was kind of impressive. I thought it would take off, I just didn't think it was going to take off like this. So what's going on here? So at 25 million, American users, because right now PayPal has opened this up to all American users, they will start to go off into other countries in Q1 2021, so watch out for that. But American users on PayPal are closing in on Binance US trading volume, within a month since launching crypto. And again, it hasn't even been a month, it's haven't been a couple of weeks. So yesterday, PayPal lifted the waitlist period making crypto available to all eligible US customers. The payment giant partnered with Paxos for the initiative. And why is that important? Well, it's important because we can see what kind of volume they're doing because the daily volume on the Paxos trading service I've been exchanged has risen from less than 5 million in October to nearly 25 million on November 13th, just two days ago. I would be impressed to see what it is after this weekend because it should probably go way up again. So in comparison though, just so you know, the 24 hour volume on Bitcoin US, I think they mean Binance US, it's close to 30 million. Deletrating volume on other US based exchanges like Crackin and Coinbase Pro is greater than 500 million. So I mean, there's still a long way to go, but really if you think about it, they opened this up to about 10% of their users for the first week, week and a half. And then there was so much demand to be on the wait list. They just said, forget it, let's just open the floodgates and let it go. And they did, and over a couple of days, they've hit 25 million as far as trading volume. So what do you think will happen the next week? Month, six months a year, I can only see good things. And again, I know people don't like this whole thing about, well, it's, you know, you have to control your own keys and you've got to do this, you gotta do that. But look, some people don't want to do that. Some people don't have the time, don't want to even learn about it. They just feel like, hey, Bitcoin's a good investment. I'm gonna get into that. Let them do it and then just sit back and be like, I'll control my keys, you don't have to, and that's fine. So to me, it's the more people in here, the better. I'm all on board for it. So speaking of which, let's just jump around for a second. That's the reason why I created Dan Teacher's Crypto. It's a 100% free website, simplified everything, pretty easy to learn. And I just make it as simple as I possibly can. So I did four updates. And one of the things I wanna talk about real quick is when you log in on the site itself, there was an issue with people with, after they log in and they're already logged in, they have issues with finding how to get back. So when I come back and I try to log in again, we'll have this screen that like, where do I go, I understand. So I added in two things. First of all, if you just go to members area, you go right back to members area. Second of all, I put this in, members area up at the top so you don't get confused. And also I put it in to the actual intro video. So if you're unsure about how to get back, that's the way to get back. Second and third thing is I added two more videos. And the first one, if we go to the basics module, I'm gonna click on that. Actually I guess I did five things. I flipped a couple of things around. I put what's blockchain, DLT and Bitcoin. I think that's when people are coming into this space, I think they need to know exactly what it is and why it's important to control your own keys and the whole decentralization and censorship resistance and all those things. So I put that up as the very first one. And then scrolling down, I put the buying your first crypto asset fourth. And then lastly, because I keep getting this question a lot, which is, hey, doesn't China control all the mining pools? Which means they can shut down Bitcoin, so I'm not gonna invest in Bitcoin. And it's a four minute video and I explain why that's not true. And this just isn't me talking. This is from me listening to a bunch of miners out there who told me that I didn't know what I was talking about. And that's why I made this video. Which is true, I mean, no one's perfect, right? I mean, we have to admit our faults and go, hey, I wasn't writing that one. But I learned some things. So here's what we got. Also on top of this video, let me go back to the homepage and go down to how do I? Let's go to the very bottom. I think this is the fourth video I added in, which is how do I organize and prepare my crypto asset taxes? This is mostly for US based citizens. I go over why wash trading is legal in cryptocurrency and also what is and what is not a taxable event on taxes. Also how to organize and prepare your crypto asset taxes for later on. This is just something to think about in the future. And it's actually a good thing to know about. And then as always, there's just a little quick Q and A to the right so to make sure that you're tracking and the answers are always there. And then it also has timestamps of the video so you can make sure you're correct. And lastly, let me go back to the homepage. Let me scroll down to investing. Let me scroll down to my crypto asset portfolio storage. So in here, I talk about what different types of assets I have invested into. And also I talk about where I store it. One of the places I store my crypto, the majority is on an analyzer, but I have 30% on the Celsius network. And with what has been going on with Celsius, especially with what happened with their website and their app where it was down for 36 to 48 hours because that DNS propagation, I see that as a flub. Again, nobody's perfect, but it made me really step back and go, should I really have this much of a percentage on Celsius network? And after also doing that post about cred, it got me a little bit spooked. So I'm going to take back, instead of having 30%, I'm gonna go down to five to 10%. And that is what I will leave on the Celsius network for now. Now, as time goes on and things start to get more smooth and everything works itself out, then sure, I'll add some things in. But for right now, I have to look out for the best interest of me and my family. And I think that what is most prudent is not to have a third of my entire portfolio on the Celsius network. Now, I still believe in it. I still really like how it's machines you'll be trying to do. I still think it's a great thing. It's just that I don't think I should have that much on there. And that's just me being as safe as I can. All right, let's jump into the next article. Next up, and this was a good one. One I actually dismissed because I had seen it briefly. Don't really give it too much thought, but then there was a couple of things that I looked into. I'm like, makes a lot of sense. So Bridgewater's Dalio sees governments banning Bitcoin should it become material or Dalio, excuse me. Ray Dalio, or Dalio maybe, the founder and co-chairman of Bridgewater Associates, the world's largest hedge fund, said that this is what's gonna happen. The US government is going to ban Bitcoin. And he had really three points. He says there's a lack of venues that will accept cryptocurrencies for purchase. That's true. There's only so many vendors out that will accept Bitcoin. And it's not really a great medium of exchange, especially when more and more people start using it, see 2017. And then on top of that, the actual price to actually use it, it's pretty expensive. And then it really slows down. So there's a lot of problems with it. And he states, I today can't take my Bitcoin yet and buy things easily with it. Now you can buy things with it. That's very true. But as far as like easily for like, just transactions to do things, very difficult. Not very difficult, but like I said, expensive and can get slow, especially as more people try to adopt it. And then he states, Bitcoin or the cryptos are too volatile to be considered an effective store of wealth. Now volatility also hurts Bitcoin's use transactionally because vendors won't know how much they're getting. Dileo said. And this is also a pretty good point because I mean, we can see swings of crypto in one day, especially Bitcoin. I think Bitcoin can go up 1,000, 2,000 in a day. So if it takes you, let's say that everybody in the United States adopts Bitcoin right now and they try to use that as an actual currency, it would take hours for everything to clear if it clears it all because there's so many people on the network, it will go come to a grinding halt. Remember 2017, it wasn't that many people out there. It wasn't like the whole nation was using it or nations and it ground to a halt. And it was super expensive as a real pain. So for someone to go, well, how much is that couch? I don't know, 500 bucks. Okay, I'm gonna pay for that in Bitcoin. Well, they pay for it in Bitcoin and then they just lost X amount because it goes up so much and the vendor was like, hey, it's pretty good. I got what I thought was 500 and actually 1,500. So as far as that, it's not really that fantastic. And he states, if Bitcoin or the crypto has become material, Dileo predicted governments will outlaw it. They'll use whatever teeth they have to enforce that. And then to finish up, he states, I don't think digital currencies will succeed in the way people hope they would. And that's true. That's also true. I don't, when I first got into crypto, it was all about Bitcoin being a currency. That's why it's called crypto currency and Bitcoin was the first. And people were using it as a currency before when it wasn't that many people using it and you could get it for like a dollar to $10. It was very cheap. But now it's things have become just way more in the stratosphere. I mean, Bitcoin right now today is 16 grand. So it's kind of hard to use that as a medium of exchange. And people did not see Bitcoin becoming a store of value per se until it became a store of value. And I think it is a good store of value, especially if you're in like, again, third world country trying to escape a regime and you have gold on you, they're gonna take your gold. If the government doesn't take it, then people who are in a worse position than you will definitely take your gold. So good luck getting away from that. If you have Bitcoin, all it's gotta do is remember 12 seed phrases or seed words and you're out of there. So as far as like a store of value, it is pretty good. We've seen massive dips, but we've also seen bigger highs. So if you wanna have just a value, not as a stable value, then yes, it can be a store of value. Later on, I mean, that store of value could be if you bought it for a thousand, it could be now worth 10,000. Or it could be worth 500 bucks, but it's better than having absolutely nothing see the gold reference I just talked about. So yeah, I agree in all of these things. And then the other thing was about gold, or sorry, it was about Bitcoin being banned because remember back in the 30s, or I guess specifically April 5th, 1933, FDR said, hey, you can't have gold if you're an American citizen and they rounded it all up. So it's not like this never happened before, it happened, it happened in the United States, landed the free home of the brave. So it is a concerning thing. And then I took a look at this article, which was Raul Powell, the owner of Raul Powell, he is the co-founder or founder of Real Vision. He was also a VP of operations over at Goldman Sachs. And he states, this is what's gonna happen if America does do that. And it was a pretty well thought out answer. And he states, or it states, while many use Franklin FDR's attempt to forbid the hoarding of gold, gold bullion and gold certificates in 33, as a precedent of the potential banning of Bitcoin, Powell notes that the effort completely backfired and resulted in people finding other ways to get gold. He states, this FDR thing comes up a lot. It was only the U.S. that tried to ban it and the gold price went up exponentially and didn't work. So everybody else will use gold. So there's exactly the example I'm using. If you ban one group from using gold, guess what? Switzerland and other countries exploded the use because the U.S. citizens and others use Switzerland. And in this day and age, when it's much more easier to go from country to country to get different things, this is in the 30s, mind you. So imagine how that worked out with gold. Well, it totally reversed itself and now people can hold gold and the price did go up pretty exponentially. So what do you think's gonna happen if they try to ban Bitcoin? Well, they'll ban Bitcoin and that could happen. That's just the U.S. side. Well, they didn't ban it on a global scale, but let's just say that you did, which is a pretty good point. Could the IMF try on a global scale to ban it? Well, sure, but there's always gonna be some countries who are like, you know what, I'll use it. And he gives the example here with Russia. So again, right now, there's different countries trying to use Bitcoin and cryptocurrency to get around sanctions. So if America bans it like, great, thanks for, thanks suckers. So we're gonna just use this cryptocurrency. That is borderless, permissionless. And we're gonna be able to use it all over the world to get past these sanctions. So thanks a lot, we appreciate it. Then it goes on to states not only will governments have a tough time banning Bitcoin, Powell says, but they'll probably even be forced to start adding it to their own reserves as fiat currencies around the world continue to face devaluation. And this is one of those arguments that I hear a lot and a lot, a lot. Because I'm like, well, I don't think that's actually gonna happen. But when you put it like this, I'm like, well, I guess I could kind of see it. And if that does happen, when countries actually have to use Bitcoin in their reserves, not as like the total reserve, but just a fraction of it, one to 3% in their treasury as the reserve, what would that do for the price? If you have that, all the different investors would say, hey, you know, we should put two to 3% in Bitcoin. And then I mean, pensions and funding, I mean, it would just explode the price and that is potentially where it could go. And to finish up, he states, if you are Argentinian and you've had endless currency devaluations and you happen to go through an economic boom, well, what happens if you started accumulating Bitcoin in your reserve? Does this make your currency more valuable? Does it make it harder? Yes, guessing, yes. So it's an interesting prospect to think about if they do ban, but it's just like pushing against the balloon. When you push too hard, it kind of makes this little vacuum and then it kind of starts to expand into other areas. So I think that, you know, this thing that we're talking about here, it could be potentially enormous, even more enormous than what I even think. So let me just think of the comments section. Let's move on to our last piece. So next up, this is Plutus. And Plutus, they contacted me via email, like I get a lot of different emails from a lot of different vendors and such. And they wanted me to promote their product. And I said, I don't know anything about your product so I can't promote you. And they said, fair enough. And just so you know that if I get any kind of compensation from any type of organization, that I have to disclose it legally. So there have been two so far that have been a paid promotion on my channel, CryptoTrader.tax, because I believe everybody has to do taxes, especially in the United States, just how it is. And I didn't want to go through an audit like I did. So that's why I promoted them. And then also for iTrust, because I believe that everybody needs an IRA. Well, not everybody, but a lot of people I do. I think a lot of my subscribers do. So I talk about them a lot, actually both of them a lot. And with Plutus, I don't really know anything about them, but there was a couple of things that stood out. And first of all, it was that they're for only in the EU. So all my European viewers, which I tend to leave out, I must admit. Cause like when I talk about IRAs and I talk about the taxes and things like that, these companies are mostly for Americans, Canada, a little bit here and there. So when they said, oh, we're only for the EU, I'm like, well, that's good for my European viewers. I don't really just blank out on you guys. It's just that different things don't come around my way too much. So I was like, well, that's good. And the second thing that was pretty interesting is that it's a decentralized exchange. You can exchange your cryptocurrency for fiat and you're actually in control of your private keys. Again, I don't know anything about it. So I'm just asking you who are listening to this video right now, just to give me feedback. I put it on my exchange and wallet fees and I will link it in the description, but I'm just evaluating it. And I have nothing else to say about it right now. Again, I can't talk about anything until I know enough about it. The problem is that it's for European Union residents or citizens only, so I can't even touch it. But I thought it was a pretty cool idea and I just looking for feedback. So just put that in the comment section if you have any type of information on that. And there was a pretty good, there's a pretty cool video on the website. I'll link it there, you can check it out. But again, pretty interesting. I'm decentralized exchange, fiat to cryptocurrency. You control your own private keys. You get 3% back in their Pluton and also for different rewards for different vendors. So I'm like, well, I mean, makes sense, I guess. You never know in this space, right? One thing that I did like also is that they have been around since 2015. So that's, I mean, in crypto world, that's like an eternity. So we'll see. All right, so that's it. So again, don't forget about Dante's crypto. The link is in the description. It's almost at the very top right after I talk about the time snippets and it's under the essentials, so check that out. And then also I just wanna give a shout out to everybody who has signed up for Visual Asset News, the YouTube channel. And just do random shout outs. So here we go. Dubnet, Keith Knauer. Nowher, I think I said it. Alice V, Ron Drake, Michael Donoth. Jay Son, Jesse Kirkland, P. Dub. Sebastian, John Rizzo, Melissa Davis. Eli, Karchoff, and Patrick May. So everybody, thanks so much for signing up for here and also at the website. For the website, the first couple of days, we had a thousand members sign up and then we're on our way to 2,000 already. So really appreciate it. If you like these types of videos and you wanna check them out, there's gonna be two months gonna pop up on your left and right. YouTube does their magic and that's it. So check those out when you have time. Thanks so much for watching. See you on the next one.