 Great welcome to the last set news to get top stories in crypto and break them down into bite-sized pieces today Just as the thumbnail suggests there is a showdown going into Canada And I like to say it's the great Canadian showdown a because what's going on down there are up there I should say because I'm in America is a Travesty and the real question is isn't even legal and we're going to take a look at some legal repercussions as to what could potentially Happen and how I think this could all play out in the long run. So we'll take a look at that story. We'll also take a look at Clown news how India is talking about banning crypto again And we'll just take a look around and how that actually worked out And then lastly we'll talk about mass growth and some good news and a quick Sunday swap update So we'll go do all those things the very last we'll do the Q&A So hold your questions till the end that could help out a ton. So just so you know Right now we're going to go over just a quick market recap The news is going to take about 10 or 15 minutes or so now to the Q&A at the end five questions five minutes So if you're watching the replay, there will be timestamps down there so you can just skip ahead and do whatever else So the the focus today is to be precise but not rushed So let's get into it and see exactly what we've got going on today is a pretty good day Almost 2.1 trillion. I mean Bitcoin is up four percent. I like to see that Ethereum's up Binance coins up everything's up. I like these days. I love these days And these are the days that I will always remind you if you begin if you have been getting your teeth kicked in for quite some time and You haven't taken any profits. This is just investment opinion out of investment advice But nobody everyone broke taking profits depending on the gains that you have and capital gains all those things But just remember that you don't want to be the richest guy in the graveyard So if you want to do things hey take a little profits up to you Also, if we take a look what's going on globally or in the macro environment here for the S&P 500 We were down a little bit, but not too bad 0.38 percent and the NASDAQ was down a little bit yesterday Which is amazing to me that the crypto market is actually a little Very little bit uncorrelated. So I like to see that usually I've been complaining about how much it's correlated But hey, it looks like it's doing some good things. Maybe this was all about the Canadian issue yesterday And then also just so you know just to do some some quick look at some on-chain analysis There's just two things I want to make mention of and that is this the Ethereum This is from crypto quant link in the description. You want to check it out For crypto quant the exchange reserves for Ethereum. It continues to drop off. This is over the last 17 five years or so we're at one of the lowest points that we've ever seen now the lowest point was in 2017 when everybody took it off, but If we can look over here in this purple line Ethereum Ethereum is getting pulled off these exchanges at a rapid amount I can tell you why because I've been doing some trading Recently and I can just tell you the gas fees are outrageous. So this a theorem is one of those cryptos that actually has some use case which is Robbing you of a ton of fees, but it is what it is So just so you know like when I see these things going off the exchanges, that's bullish to me Also, what is not bullish the estimated leverage ratio? Take a look at all the different leverage plays out there 10x 50x 100x if you're into that stuff Anything above 0.2 is extremely high and again people keep going for that leverage ratio of 0.208 so at some pretty high levels and I All I'm gonna say is just be careful. I don't care what you do. I'm not your dad So if you want to make a bunch of money lose a bunch of money It's up to you and a lot of people in all honesty do make a lot of money Shorting Bitcoin that is is the truth. So that's what's going on the market. Let's take a look at what's going on With this showdown. So If you're not aware That's Prime Minister Justin Trudeau and he came out yesterday and he said look we're going to bring forth An emergency act in the Canadian history or Canadian territories This is exactly what I said. I'll just read to you and then we'll go over what was specifically said So Prime Minister Justin Trudeau announced on Monday He is enacting the emergencies act for the first time in Canadian history in response to ongoing protests over COVID-19 restrictions in Ottawa and around Canada fear living under rock. Maybe you don't watch the news There's a big protests going on truckers and people that are protesting in the streets about restrictions Happen to get the jab and all those things. This is not that channel. I am not getting into that That argument here what I'm getting into the argument is is what they're doing to regulate this because there was a crowd funding For these protesters millions of dollars and they shut them down. They said no We're not actually they didn't shut them down actually the crowd funding Put me in the comment section what it was They just shut it all down said no, we're not gonna give this money we're gonna we're gonna give it back after a big outcry and All the money that was supposed to go to help funding the protests no one void off it goes goes back money Now people try to do this on a crypto platform They got like 300,000 so a fraction of what it is But it could have gone a lot longer. So what Justin Trudeau and the Canadian authorities did is said hey look we need to regulate this we need to regulate this real quick and Trudeau says the act Will be limited. So what they're gonna do right now limited in time scope and Geographical area and it is not being used to call in the military or to override the charter we can trust them they're the government and That was sarcasm in case you missed it. Just so you know Anytime you do something that's limited in scope and the government doesn't really work out too well Even Ronald Reagan said it nothing lasts longer than a temporary government program. What that sink in That's One of our former US presidents who ran on the platform at the problem with government is government is too big And even he says that these temporary government programs last forever So to get into the new degree. This is what was said There's Justin Trudeau in the back left and a lot of you have heard this speech It is 44 seconds, but I'm going to play it so the people that aren't aware can really grasp what is going on Let me stop that screen. Let me share the actual Tab so you can see and hear What this is so let me mute myself so you don't have first We are broadening the scope of Canada's anti-money laundering and terrorist financing rules So that they cover crowdfunding platforms and the payment service providers they use These changes cover all forms of transactions Including digital assets such as crypto currencies the illegal blockades have highlighted the fact that crowdfunding platforms and Some of the payment service providers they use are not fully captured under the proceeds of crime and terrorist financing act Okay, so let me know what you think about that in the comments. I think to me personally I think this is a vast overreach of what the government should be or should not be able to do and it's Frankly quite frightening, but the question isn't for me to figure that out The question is for the courts to figure that out and this leads me to my next point. Let me share my screen So this right here Is run the Canadian Civil Liberties Association shout out to Big E for showing this to me an article I appreciate it and it states I'm gonna read this to you and in its entirety because This is the process the federal government has not met the threshold necessary to invoke said emergencies act This law creates a high and clear standard for good reason The act allows government to bypass ordinary democratic processes. This standard has not been met So really what happened is the government steps in and goes we're gonna shut these things down Not necessarily. I can't say shut them down. We're gonna Put them in through strict regulation and we're gonna do this in such a fashion That's gonna be very difficult to move things around and we're gonna use this under the guise of Anti-money laundering and the terrorist act sure if you think that is the truth But you have to go through the government or the courts to do this And if it's not you're gonna have to go through the courts to actually get this done You can't just unilaterally do it. It's not a communist country Anyhow to go on the emergency act can only be invoked when a situation Seriously threatens the ability of the government of Canada to preserve the sovereignty security and territorial integrity of Canada and when the situation Cannot be effectively dealt with under any other law of Canada governments regularly deal with difficult situations That is true and do so using power to grant them by democratically elected representatives Immersive legislation should not be normalized. It threatens our democracy and our civil liberties. So here's the thing When this is all going through This just and some people look this and go what's the big deal? The big deal is that you give an ancient and they take a mile and I've talked about on this channel Forever that we need regulations and crypto and I still believe we need regulations crypto because we need the rules to be out There not be behind some kind of veiled process like the SEC does and they pull these these companies in and say Okay coinbase you want to do this or we're gonna sue you so don't do that Well, where's the regulation? Where's the laws? Well, we set the laws with the law Well, we can't put it out to you, but you can come in and talk to us about it So the thing is is that like like this with this situation here? And I told you with regulation. They're probably gonna screw it up And here's a prime example, but now that you put it out now Let's fight because now we can bring us to the courts and we can get it all swapped out And we can bring it out to the light instead of being in the darkness and now we can put forth in some type of Some clarity to give us a little bit besides just going yeah, just do this just that and that you know Maybe and and we'll see you or maybe we won't see or maybe we'll shut you down Maybe we won't give us the rules so we can play the game and we can figure out the ways around it I hate to say it but that's exactly how it is and that's how all businesses work Give me the rules so I know how to play the game and I'll do my my best as an entrepreneur or different Personnel to figure out the right ways for me to do these things That's what's going on. Let me know what you think about that in the comment section and then let's move on to our next piece Clown news so It doesn't get any better than this and I do like these these little pieces Sometimes I think it's funny. I Not that I think it's funny of regulation I think it's funny how like just how scared the central banks are. I mean, let's be honest If there's anybody calling for a ban, it's the central banks So you're gonna hear this story, but I need you to I need to give you the story behind the story So India central bank official calls for crypto ban. This does not mean India's banning crypto It doesn't very clownish. So here's what we got the deputy governor calls for crypto man a deputy governor of the Reserve Bank of India has once again Join the list of central banking officials openly hostile to crypto in a speech He said it's crypto is underpinned by a philosophy to evade government controls and has specifically been developed to Bypass the regulator financial system. Here's the thing. It's not set up to bypass the financial system It is an open ledger anybody can take a look at it if anything's been set up to bypass any kind of system It is the fiat system every type of money laundering and different nefarious activity has been done mostly with the US dollar So if you want to use crypto, it's all out in the open go right ahead He also said that cryptocurrencies cannot reasonably be defined as a currency having no underlying cash flows Undermining KYC AML. I don't know about you, but every exchange I use I got to do KYC and AML Just saying and pose a threat to India's banking and monetary system as well as its financial sovereignty Well, it may throw pose a threat to the central banks. I can't deny that Robbie Sankar additionally suggests that crypto have no intrinsic value and are akin to Ponzi schemes Let me tell you the only thing that goes to zero every single time throughout the entire history of humankind is fiat reiterating comparisons to tulip mania made by RBAs RBI's head governor on February 10th. And so here's the thing All this stuff could be true that he says it could be a huge Ponzi scheme. It could just be awful I personally don't think so. I think that one of the biggest Ponzi scheme that's out there is Fiat currency and the ability to inflate away all of your Purchasing power, which is the dollar or Whatever currency that you have so I think this is a problem, but I just want to remind everybody that For the central banks are gonna keep saying this again and again and again, and I want to Tell you to look around and see how well this has worked in the past for these central banks and To do that Just look at Russia move pretty fast on January 21st Russia proposes ban on use and mining of crypto Wasn't Russia is Russia's central bankers and then January 25th Russia should regulate crypto now Bennett says parliament and the officials that have to do with legatory regulatory clarity Then on February 3rd Russia's minister of finance suggests letting banks sell crypto On February 3rd again, Russia bank deploys the first digital asset manager, which is a boost to crypto and then lastly Putin's Russia was set to crack down a crypto and ended up ended up embracing in a big bear hug on February 9th So here's the thing Central banks are a little bit scared, which I can understand I get it But just let it happen. It's gonna be okay You can't stop it people really want this to happen and it's gonna happen So even though that you say well It's gonna threaten the sovereignty of the nations doesn't threaten the sovereign nations It threatens you and exactly what you've been doing for hundreds of years So let me just think about that in the comment section that concludes clown news Now let's just take a look at some good stuff So I know it didn't seem like good like Canada's gonna go through that big process and it sounds awful But again, I think it's gonna be good in the long run Central banks are gonna beep the drum and say we don't want this doesn't matter because we want this and that's what's more Important and then lastly, let's just take a look around us. So here's an example of Of some pretty good growth. This was from Steve Erlich from Voyager and he says this was I don't know if this was this was a report that they put out But he says hey, we grow 2 million users in nine months. Let me say it again Voyager grew 2 million users in nine months. That's pretty good I think some people actually want a little bit of crypto digital assets. Also, it's also from Blockworks Coinbase's website Got 20 million hits In one minute after it's add on Super Bowl and if you didn't see the ad it's I thought it was brilliant it was just a bouncing QR code all over the place and they got 20 million hits on their website a Minute after it's add so I can forgive them if they didn't keep that up for a second So I'm okay with that. So if we take a look around and we take a look at what's happening in Russia What's happening in the US? I mean all the different miners have actually moved a ton of them have moved here from China because they fumbled Then he has let's take a look at him people actually wants crypto like a look at Voyager and Coinbase I think things are moving in the right direction. And lastly, I just want to say and we're kind of running out of time a Quick update to Sunday swap first of all, this is from Paul trading with Paul's got a got a YouTube channel check it out for You know, I was complaining and about the congestion yesterday And he says a card on a congestion is down and Sunday swap backlog is cleared Test trade took two minutes for a swap on the Sunday swap. So good job Sunday swap Because in the beginning you were sucking it was taking like days to do some kind of transactions I get down to a two minutes. So hey good for you And then lastly some people were asking about this for the Sunday swap rewards I said it was you just had to go to To drip drops drip drops that IO to claim your Sunday swap rewards and you could get it done But apparently rewards will be claimable on March 1st So you got to wait a little bit to claim it if you want to see what I was talking about watch yesterday's video It's very very simple to go to drip drops putting your wallet that you staked with and Claim your rewards and that's it. So look that does it today for the news. We hit it around 17 minutes Not too bad. Let's go into the next five minutes before we do Q&A if you don't want to stick around or can't stick around You're busy. That's okay thumbs up subscribe and I'll see you tomorrow I've made all the way the end might as well subscribe. We do this everything and that's it So thanks. I appreciate it for watching the news. Let's go on some Q&A. Shall we all right? Ah, there was One mullet what's up, brother hit the like and subscribe. Thanks Question number one. Do you think Bitcoin is inherently good? It's a great question. It's a loaded question. I think the design of what it was built for was positive, especially it was created in 2009 after 2008 crash for the financial crisis, which was Global all based on a lot of dirty stuff that the bankers did and really left us in a bad position I thought it was a good Process for what it is. I still think it's good. I still think it's a great good store of value Especially if you're living in emerging countries because if you're in like a Venezuela Like some of that place where like Turkey were like like your fiat is being inflated away You're purchasing power is down but down the ground even if Bitcoin goes down 50% in one day It's better than the crappy fiat that you're holding on to in some of those countries So I think it's good in that part what I don't like is the congregation or the Consolidation of all the different people and institutions that are condensing crypto into a small group of Places and that's the one thing that concerns me You get a if if Bitcoin becomes let's just dream a little bit the reserve currency of the world And you've got a company that owns 1% of that. That's scary in my opinion, but that's just how I see it Oh, and that answers my this is the second question. So yes, is Michael sailor and smaller brother Owning such a large chunk of Bitcoin good for Bitcoin I think it's good in the price action as long as they keep it and don't do too much I mean, I don't Michael Sarasman said a time and time again that you know, I'm not gonna I'm not gonna sell it or I might put loans against it So in a long run for price action, it's pretty good But again, it's a lot of power because that's exactly what it is condensed into the hands of few All right, ah This is a good question Nick cube says what do you think of Cordano multi-stake pools for single-stake pool operators? So yesterday we talked about the sunny swap put out a They were trying to allow for more decentralization on Cardano There's a couple of different pools that have like nine ten twelve different pools and they're all maxed out I think it's a bit crazy, but it is what it is And if you think that that's that's bad for decentralization, then you should move yourself to a Pool that has only one pool D news Specifically has two pools. We made two pools because it was supposed to go from 63 million saturation down to 32 million didn't do that So on one pool, we have about 70% saturated another pull you have 50% so if you add it up It's like we're like 120% so yeah, sure But if you don't if you feel like we should be more decentralized and be out there and all these different single-pool operators go right ahead Some of those single-pool operators are great But just look at the technology that they're using behind it and can they handle the load most of them can but some are a little Crazy, but that's for your own research. So that's my answer to that. That is number three. I think two more questions Wars over now Hmm. Oh great. I must have done my job perfectly because there's no more questions. You're welcome Thanks for thanks for tuning in from India. Ah There's a great question number four if Russia goes to war do you think they'll start using Bitcoin to avoid US sanctions? Couldn't hurt I Think it's a pretty good way to avoid a lot of things. So I don't see why not and of course Putin just met with I would say the same changing thing the Chinese Premier or president and to strengthen relations with them So I think they really want to do those things especially to get around to get around sanctions. I don't see why not ah Question number five and this is it crypto had do you hold me precious metals? I do I own silver and gold and Bitcoin. So I will just say this I don't understand why the gold bugs hate Bitcoin so much. I think you should just come along with us I mean, we're all fighting for the same thing. I It's like Pepsi vs. Coke, you know, like is it that big of a deal? I mean, we're all trying to get out of the system We're all trying to protect ourselves from the crazy central bankers. So just come with us Just come on over Water's fine. So yeah, I own gold silver Bitcoin and a ton of other cryptos and some Properties, so that's it. So look we kept it at 22 minutes not too bad, but that's what we got today So thanks so much for stopping. I appreciate it if you liked today's video thumbs up consider subscribing If you hear all the way to the end, why not? But that's it for today. So thanks so much for watching. I appreciate it and I'll see you on the next one. Adios