 Welcome to Jalassette News, the second top store using cryptocurrency and Jalassette's and break them down to bite-sized pieces today. We've got some stories that are going to blow my mind. First up, PayPal CEO explains how his firm will increase the utility of cryptocurrencies and this really isn't the big story. The big story is what they are planning to do after they roll out the basics of buying and sell crypto because what they're talking about is going to be massive also. Very scale is the news again as they are reported to have just bought another 75,000 plus Ethereum just yesterday and now they own 2% of the Ethereum supply on top of almost 3% of the Bitcoin supply. So the question is, is this what smart money is doing? It looks like it is and that means that this market is going to go up massively. And part of the reason for that is the awful economic policy of different nations and here is a prime example, Turkish inflation makes Bitcoins 2017 all the time high. It looks like a tiny blip and we're going to take a look at what goes wrong when the nations incorrectly mishandle their economic process. And finally a more positive news, SEC changes rules making fundraising easier for crypto firms. And this could have been a huge boom in the ICO days, but here we are. So with all this good news, let's see if it translates to what's going on in the markets. So today it is super Tuesday. November 3rd and we're going to find out who's going to be the next U.S. present, the incumbent or the challenger, which is interesting, I suppose. But in my world, this is what's interesting. So let's see what we got. So Bitcoin is up 1.2% after all this good news, 5.3% for seven days. So it's almost at that 13-8 maybe we hit 14 this week. We will see. But again, like I talked about before, expect major volatility and expect a lot of problems in the country of the good old U.S. of A until we figure out exactly who's going to be the president. Ethereum is down half a percent. Maybe Grayscale bought too much. Don't know. But they're still solid at 382 almost hitting 400. So pretty happy. Ted is looking at still the same 16 billion, almost 17 billion market caps are not too bad. XRP, which was pegged to the quarter I felt is now down to 23 cents. So what are you going to do? Bitcoin, cash, everything's down. Let's see what's up. USD. No, that's just a stable coin. No one cares. Rep Bitcoin. Now it's up to take the Bitcoin dies up zero before everything is down across the board, except for, of course, Celsius network. And, you know, I'm trying to dollar cost average into a much greater position. It's Celsius. It is theta and it is Voyager for me. And of course, the one that I want to do dollar cost average is the one that's going up. But what are you going to do? It's up 10% for the week. And Celsius, like I had talked about, is my one, two, three punch in my exchange of wallet fees. It's a Kraken, Celsius and Voyager. If Kraken could just get ACH instead of wire transfers, I'd have no problem with Kraken, but they still are doing the same thing. However, I still like what they're doing. Celsius, I think, is going to be huge on top of Voyager, and that's why I'm going to stick with them. Again, if you're looking for this link to my spreadsheets, it's in the description of my videos. Go ahead and check it out. Whatever you sign up, it could be $10, $25 just for signing up. It is an affiliate link just so you know. Sorry, beyond that. Is anything good? Nothing really. Let's jump into Dave's stories because besides Bitcoin, everything's pretty much down. So why is that? Well, it could be this great news. So first up, PayPal CEO explains his firm will increase utility. And this was bland and boring in the beginning, but it really gets good towards the end. So I'm going to skip over the beginning because it's boring. But this was kind of interesting. Last Wednesday, Circle co-founder and CEO Jeremy Allaire became one of the first people in the U.S. to buy Bitcoin using his PayPal account. He says, hey, just about 100 bucks, a great milestone for the market. But I want you to notice one thing here, transaction fee 0.00. Now, the question is, is this because he is the CEO and he gets special privileges? Maybe, but it'd be interesting to see if people can just buy Bitcoin at zero. I don't think that's going to happen. PayPal has to make their money in some way, shape or form. So we'll see. But that was interesting. I was like, wow, zero, good for that CEO. Anyhow, this is where it gets good because they talk about the Q3 earnings call and what was said. So here's what Shulman, he is the CEO of PayPal Inc. Had to say, he says, like you discuss a recent announcement to increase the utility of crypto, as well as embrace new forms of CBDC's central bank digital currency. So you have to understand, they're going to work heavily with the regulators to get these things done. They are not going to do the same mistake that PayPal did, which is like, hey, we're going to take over and do whatever we want to. They do not have a hubris. They do not have the pride to kind of go in there and do that. So they're doing a much smarter thing. And actually PayPal was one of those founding partners to work with Libra instead of what happened was after the fact, the government stepped in and goes, hey, we're not going to let you do it. And then PayPal slowly retreated into the background. And they say, you know what, we can do it better. And they sure are doing that. He further goes on to state, importantly, we are doing this in close partnership with regulators. As you saw, the New York Department of Financial Services granted PayPal a first of its kind conditional bit license. And for all those people out there that have tried to get through that or have actually known people who have tried to get a bit license, it is a nightmare. It is a stack and stack of papers and a ton of hoops. And then you still don't get it. So PayPal, I mean, they're a billion dollar company. So they kind of they're able to do these types of things. He states with this foundation in place, we will rapidly move in the beginning of next year and allow consumers to use crypto as a funding instrument to shop across all 28 million of our merchants. And on my websites, yeah, I have PayPal integrations. Pretty easy. People come in if they want to pay with PayPal or they want to pay their credit card or whoever processes it. Either PayPal is straight for me. It's pretty seamless and easy. So of course, when you have all these people come in and go, hey, I have X cryptocurrency, I want to use it so much the better. I will definitely take all the Bitcoin you want to send to me. The question that I have, though, is PayPal is not settling these in crypto. They are settling these in fiat. So it sounds to me like I will be paid in dollars and they will go with the cryptocurrency. I hope there's an option where they allow us to be paid in crypto. But again, we will see. They state the solution will not involve any additional integrations, volatility or incremental transaction fees for either consumers or merchants. I thought that was fascinating because they're not going to tack on a dime here or 50 cents there or $1.99 plus 30 cents. They're not not going to do that. They're going to say, hey, there's no more transaction fees for consumers or merchants. Again, we will see further going on. He states the world is rapidly moving from physical to digital on that. So true for payments and financial services, my conversations with central banks, with the regulators, with a number of folks in the crypto field, there's no question. This is less than this. There's no question that digital currencies are going to be rising in importance, having increasing functionality and increasing prominence CBDCs from my perspective and all my conversations is a matter of when and how they're done, not if. I'm pretty sure they meant to say if, not AF. So look, if you ever needed any kind of confirmation that you were in the right space, this is just one of many that are out there. This is the CEO of a billion dollar company, and he's talking to regulators, bankers and probably the big people in crypto. And they're all saying the same thing. This is going to be huge. Lastly, to finish up, he states, we've only rolled out this to 10 percent of our base, meaning that the images that I've gotten from subscribers, they look something like this. They have only been rolled out to a select few. So I was always wondering, because I'm looking at my PayPal app and I'm like, I don't see this stuff. So there's something like this. And it's going to look something like this Bitcoin, if they're in Bitcoin Cash Litecoin. So pretty easy, very bright pictures. So you can't miss stuff. They're going to allow you to learn about cryptocurrency in a very limited format because they don't want to give away all the secrets. I mean, let's be honest. They don't want to talk about, you know, staking and crypto loans and all the different things that could make you even more money for more opportunities. They want that for themselves. And of course, a very simple interface where it just has, you know, the actual crypto asset and you can buy 20, 50, 100, 500, whatever it is. You probably name your own price. Maybe a little dollar cross averaging tool. Who knows? But that's essentially what it's going to look like. So he continues to go on in which this is this next part is no surprise to me. He states, we did that a couple of days ago by rolling out 10%. But our waiting list was two to three times of what our expectations were. So this is just another affirmation that they're a little bit slow to the game, but it's better to be late than never. He says, we're going to take up our 10,000 limit per day to 15,000 per day because there's so much demand based on the man that we're seeing and we'll roll out to 100% in the US, in the next two to three weeks. Interesting. I thought it was going to be Q1 2021, excuse me, but I guess they're going to roll it out even quicker. They're going to expand internationally and they're going to expand in Venmo on the first half of next year. So I guess that's US the first next two to three weeks, then Q1 2021, skies the limit, Venmo, international clients, everybody's welcome to the party. Moving forward, he says, but what I'm really excited about and this is the most interesting part is what we're going to introduce next year. Let me repeat that again. What I'm really excited about is what we're going to introduce next year, which is, I think, going to dramatically increase the utility of cryptocurrencies by enabling somebody who holds a crypto in a PayPal account to instantaneously transfer that crypto into fiat currency at a set rate. So what they're saying about is, this is just the beginning and what we're going to roll out later on is going to be huge because he says right here, but that's just the start of things that we want to do and go over with crypto capabilities over the course of next year, you'll see us moving into a couple of different areas. So I'm just going to put it out there. What do you think that is? Do you think it's going to be any kind of like decentralized ID? Do you think it's going to be some kind of like voting type of thing? Do you think it's going to be the more obvious choice which would be like decentralized finance and maybe some kind of staking options? Who knows? Let me know what you think it is in the comment section. Personal opinion is probably defile, let's be honest. And that'd be interesting if they get like the PayPal governance token. Now that would be amazing. I don't see them going decentralized that much, but who knows? And then to further hammer home the point, they says those are the only two we're talking about right now, which is buying and holding and selling cryptocurrencies. But I see a lot of interesting things we can do with crypto. And this is why they've been working so closely with the regulators because they're probably just, they probably have a plan in place. Obviously they do. So you better believe they're gonna pull those regulators in to say, hey, Jim, we wanna do this part for the central ID to do smart contracts, to do decentralized finance. What is it gonna take for us to get that done? And we wanna do this within the next x amount of time. No wonders they're doing it all close. And this is what if PayPal would have done this in the very beginning, this is what they would have been. And this is how it is really done. If you wanna start a revolution, sometimes it's better to go from the inside out. Let me just think of the comments section. Let's move on. Next up, this is a quick article. Grayscale is dominating, let's just be honest. So they just acquired 75,000 Ethereum just recently. So again, these guys aren't stupid. They probably look to see what's gonna happen and they bought up a massive amount of Bitcoin and they're brining up a massive amount of Ethereum. So which ones do you think are gonna do pretty well next year? I don't know. Let's take a peek here. So financial analyst and editor at Banyan Hill Publishing, Ian Dyer, has shared that on Monday, November 2nd, Grayscale fund manager made a large Ethereum acquisition and they bought 75,000 plus Ethereum. That's amazing. The fund now holds approximately 2% plus of all circulating Ethereum. 2% of all Ethereum. GBDC contains approximately 2.5% of all Bitcoin in circulation after running GBTC for five years. And I can just tell you, if they're buying this much Ethereum at this pace, then they're going to be buying a lot more of Bitcoin, which means that there is a lot of demand for both of those Bitcoin Ethereum because that is what they do. They buy this Ethereum, they put it into their fund and they sell it off to institutions, fund managers and people who want to buy into cryptocurrency, but they don't wanna deal with all the hassles like custody and things like me and you do, which I have to tell you is not a big deal. I have no problem doing all those things if I don't have to pay some of the fees that Grayscale has. So moving down, this was just a reiteration of what we talked about before, but it is interesting to note that according to the recent Grayscale report, Bitcoin is heading toward mainstream demand. I believe that true. Previously, only a limited pool of market players wanted to acquire Bitcoin. In 2019, there were 21 million roughly people or players who wanted to acquire Bitcoin. Now, this year, 2020, it has increased to 32 million. So 21, 32, that's a lot of people. And 62% of participants are aware of Bitcoin. In 2019, it was only 53%. So you're gonna see it year over year, just how much it inks up. And it wasn't like there was a lot of advertising. It wasn't like there was a lot of flash out there. I mean, look at what has just happened the last two months, all the different things that have gone on. And we have everything from micro strategy and square to fidelity to assets and Paul Tudor-Jones and then this which is going on with PayPal. This is next year is the year, folks. That is it. I've said it before and I'll say it again. I do not see how 2021 could be a downer of a year. I think this was the catalyst. This was the spark and next year should be big. Let me just think of the comment section but I've got my positions. All right, let's move on. So great news for crypto and digital assets, especially Bitcoin. How does this translate to the global economy? Well, not so good if you're in Turkey. So Turkish inflation is going through the roof. What's going on here? So earlier today, one Bitcoin reached its peak value of 117,910 tri, which is the Turkey lira. And this is as Turkey is scrambling to deal with rapidly rising inflation. They are not the only country that is happening to. Venezuela is one of those other countries and you're gonna see the dominoes fall. The lira has so far had a very tough year losing 40% of its value against the dollar. It's amazing because the dollar is the global reserve currency so we compare everything to the dollar. It'd be interesting if the dollar is never or ceases to be the reserve currency but I don't think that's gonna happen anytime soon but it could, people in the comment section always tell me what a moron I am. I don't believe that it's actually gonna happen but I don't see it's gonna happen anytime soon. Turkey's president Tayyip Erdogan pushed it to new lows by, get this, riling up NATO allies, excuse me, NATO allies while pressuring the country's central bank to keep low interest rates. That sounds like actually a lot of countries, let's be honest. Meanwhile, Bitcoin has a hard-coded disinflationary monetary policy is up a little over 90% in 2020. So not a bad year for Bitcoin, right? So I mean, not that it's up 90%, it's just over, I assume that it's to the dollar but anyhow, the reason I wanna talk about this is just because when you go out there and you give your elevator pitch for Bitcoin and you're talking to your friends, family, loved ones who all think you're crazy because you're in crypto, believe me, I know. You're gonna start to talk about the reason why Bitcoin is so great and these are one of the stories you can bring up. You can say, look, Turkey is having a massive amount of inflationary period and on top of that, as we scroll down, with all this massive inflation, what can they turn to? Well, they can turn to Bitcoin crypto assets and just like I said right here, crypto usage is off the chart in Turkey. Well, why wouldn't it be? Because their dollars or their lira or their L-Y-R-A is just totally becoming worthless. And in September report, blockchain sleuth chain analysis placed it at 29 spot by crypto adoption which is higher than any other country in the Middle Eastern region. Economic uncertainty is the main impetus behind this keen interest in crypto which also ranks true for Venezuela and other struggling Latin American countries. So as you see, when the dominoes keep falling, what can they turn to? Well, you can't really have gold and make it super portable and walk around with it because it's easy to steal and it's not very that portable and maybe it's not that much accessible. However, like it was said, we talked about yesterday, if you can remember 12 words, you can carry your entire wealth in your head and not have to worry about it and you can even spend it. So it's one of those things where I think as time goes on, we're gonna see Bitcoin become more of that asset, more of that store of value and other things are just gonna fall the wayside. However, I still think you should have Bitcoin Gold Silver, just my two cents. And that's it for this article. Let's finish up with a little SEC. So the SEC changes some rules, making fundraising easier for crypto firms. And when I'm researching all this stuff, it used to be hard a while ago just to find like some positive news. But now it's like my show just kind of writes itself. I mean, I just look, I'm like, good news, good news, good news. Okay, that's concerning, good news, good news. And this is one of those things where it's like it kind of goes over the whole gambit. I mean, we have mass adoption. We have countries and all the different inflation. And now we have regulation coming into play and I'm like, well, you're making my job easy. That's all I can say. Thank you, crypto world. So what is happening here? The US SEC or Securities Exchange Commission has amended some exemption rules, making it easier for crypto companies to raise funds. That would be great 2017. The SEC announced Monday it had amended some rules pertaining to several exemptions. Among other changes, regulator has increased the offering limits for regulation A, crowdfunding in rule 504. No idea what those are, but apparently it's going to increase the limit. So they state we are increasing the maximum permitted offering amounts for certain exemptions so explained by SEC commissioner or crypto mom, Hester Pierce. I really wish you could have been the chairman. And I had to, I was thinking, I was like, well, hold on, SEC commissioner, Hester Pierce. I had to take a look real quick. I'm like, who is the chairman again? Oh, it's Jay Clayton. So Jay Clayton is still the chairman. He's been there since, well, three years now. And then he got Pierce Roisman, Herron Lee and Crenshaw. But again, she is just one position away from taking that spot, that top spot from Clayton. Hopefully he can step down soon. And we can get somebody who's got some great ideas as far as crypto goes. Then anyhow, by raising the offer limit under tier two of regulation A from 50 million to 75 and the crown funding offering from one million to five million, we seek to reduce the costs relative to the amount raised under these exemptions. So again, I mean, look, I don't know what Hester was saying to all her pals over there in the SEC but it seems to have worked. And it looks like they're slowly, I mean, very slowly getting into or releasing some of these regulations. And that's all we need. A lot of times these regulations, I am a proponent, I am in favor of regulations to a point, right? I don't believe that there is like chaos should rain and then we should be in the Mad Max world where we have Thunderdome and everything. No, it's not what I'm saying. What I'm saying is we actually have a little bit of regulation, but it's just like cake. One slice of cake is okay. If you try to shove a whole cake in your mouth, it'll just make you sick. It's the same thing with regulation. Little bit's good. Just finding that sweet spot is fantastic but usually the government screws it up and they go overboard. So we will see, but Hester peers, congratulations for getting something done. I totally appreciate it. And that is it for today. So look, interesting night tonight. Just remember, if you're not from the US, just wait for the news and watch the party unravel and or the party start, I guess we could say because it's going to be a wild night and don't expect the election to actually get called tonight. We're looking at 24 to 72 hours, maybe even a week, maybe a month, never know. If you're a fan of history, remember the whole George Bush Al Gore type of incident when it all came out of Florida? That took quite a while and there was no clear cut winner for a while and that's exactly what's going to happen here but I could be wrong. Anyhow, that's it for tonight. Thanks so much for listening. I really appreciate it and I will see you on the next one.