 Look at digital asset news like it's up stories and crypto currency digital assets and break them down to bite sized pieces today. A couple of fascinating things. First up, banks storing Bitcoin means they are panicking States Max Kaiser and I really thought about that, but in reality, when I take a real deep dive into it, it totally makes sense. Also, more proof that the central bank digital coins are coming up fast and heavy. The Boston Federal Reserve is seeking a software engineer to work on digital currencies. And finally, Gemini will now keep your unstoppable domains safe with a custody service for non-fungible tokens or NFTs that relate to domains. And I gotta tell you, I had to take a look at this project because I think it could be enormous. Before we get into that, let's take a look at what's going on with the market. So today, it is July 24th around 3pm Texas time, starting off a little late but had a lot of things going on. But everything's looking pretty good. Bitcoin is up 0.2% fantastic, but a 5.3% for the week. Ethereum up bigly, 285. Looks like it might actually hit that 300 by the weekend. But who knows? Tether's Tether, XRP, 20 cents, watch out. Bitcoin Cash is Bitcoin Cash, Cardano down a little bit, SV still in the top 10, don't know why, Binance Coin doing pretty well. And everything's pretty much just jockeying for position. So nothing too fantastic, little projects up, down here and around. But I gotta tell you, I like the way the market's going. It's not fluctuating greatly, we're making little gains here and there. So I think this is a good time. So first up, banks are panicking, says Max Kaiser, because they're actually willing to custody cryptocurrency. And I gotta tell you, in 2017, this would not have ever been imagined by anybody, especially me. And you know, Max Kaiser, if you don't know him, he's a serious Bitcoin maximalist. Everything else is trash that he says. And I get it. And I've talked about this before. Bitcoin maximalists, they only see it as a currency or a store of value. And in that regard, they are correct. You know, Bitcoin could be the ultimate store of value. It's not going to be a smart contract. It's not going to be an oracle. It's not going to be DeFi. It's not going to be all that stuff that other things can do, but restore value. Sure. You know, have it. Great. That's why I invest into it, because I think it's going to be big. Now, very long term, 10, 20 years, I have no idea. But that's just what I think. Anyhow, Max Kaiser goes on and expresses sentiments that banks are scared of being left behind to collect the pieces of uncontrollable inflation by other parties that are already investing heavily in Bitcoin. And he said, bank storing Bitcoin means banks are panicking. They would love to ignore Bitcoin with fiat money collapsing. And countries like Iran actively mining the Bitcoin game theory baked in the protocol, kicked in once again, and has destroyed all bank or resistance. That's true. I had to take a look and Iran is actually a hotspot for mining because it's cheap electricity. Now, I think Texas is going to be the next big hotspot. I mean, it already is with Bitmain and Layer 1. But as far as like mining goes, sure. But what they're talking about here, and when I first thought about it, I thought, is Max just being a nut, as usual, or does he have some points? And really, he does. Because when I first thought about it, I'm like, well, the office of the Comptroller of Currency, they just made that announcement a couple days ago. And it wasn't without merit, because what had actually happened was the head of the OCC, Brian, I forgot his last name, but he actually sent out a letter to all the bankers. And this was actually a story that we covered yesterday. We're talking about Don't Expect Banks to Jump on It from Alex Maschioli. And that was pretty well written. But what it all came down to was that former Coinbase chief legal officer, Brian Brooks, became the acting head of the OCC. His office announced that he wanted banks to submit to submit input on crypto rule policies, which was a major change in the previous head. So he said, hey, all you banks, I want you to tell me what you want from cryptocurrency assets. What can you see actually happening? And what they all told him was, hey, we want to be a part of this whole operation. And we want to, I mean, whether they said to custody or not, doesn't matter. But in some way, shape or form, they said we want to be a part of this. Because I think they saw the writing on the wall. So Max is right. I mean, Brian here, he reached out to the banks. They said we want it. And the reason is going to become maybe a little nefarious. We'll get into that in a second. So we'll say this though, when I first heard about it, I was like, this is awesome because, you know, this will lead to massive adoption. People like my mom, my stepdad and other family members, they don't want to deal with this nonsense of like having a ledger and going through all the process and learning the seed phrases and the private keys and writing the stuff down. They're not going to do that. They just want a bank because that's what they're used to. And that's how people are. But there's always a layer behind a layer. And this article really helps to kind of clarify that. So more crypto enthusiasts have expressed opinions that if the dollar was doing okay, banks wouldn't buy with crypto. Just last year, Wells Fargo said its customers are not allowed to use credit cards to buy crypto. The assumption that customers need to be protected from themselves, which is just awful because really what the banks are saying is you're too stupid to really take care of yourself. So just give it to us and we know what to do. And we'll do all the thinking for you. So just the wrong, wrong way to do things. Anyhow, it goes on to talk about the deficit, how there is a actually a suspension of the debt ceiling. The debt is standing at 23.7 trillion and the debt limit now will be suspended until July 2021. So that's pretty awful for us. We'll see how that all works out. I don't see that being positive in any way, shape or form. But history will hopefully we'll see what happens. But I don't see this being very well for the banks. And for the economy in general, however, the whole point is, is how is this actually good for crypto? And it may not be. So the question's asked is, how is this good news? Crypto is meant to do away with the old system. Bitcoin was created out of the financial crisis. So why work with the system? Because it's already corrupt and it's already going to corrupt the system that we have in place. Anyhow, and this was actually brought forth and really clarified by a CEO of Celsius, Alex Machinsky. And there was a live stream today and actually attended. It was really good. It was over, but it was like an hour and a half. That's why I'm doing this video so late because I was just like, it was just good stuff to learn about. And Alex even talks about it. He goes, look, with the OCC and them stepping in and saying, the banks can cuss you this. He goes, this is nothing good. This is nothing great. The banks have always been in the way. They're always going to essentially screw you. And they're never going to give you the interest rate. He goes, go to Wells Fargo right now. And the money that you put into the bank, ask them if they're going to loan that out. And then ask them how much you're going to give back for the money that you gave them to loan out. Is it 80% that you're going to get into that, like Celsius does? Or is it going to be a paltry nothing almost? And of course, they're never going to tell you because that's not their job to tell you what they're going to do. They're going to take your money and they're going to go around and they're going to give loans out and use your money and not really giving anything back. And that's the big problem. So if we're looking at what banks are going to do for us, it's never a good idea. Again, doing those types of things is totally legal for the banks. That is called fractional reserve banking. And it's just awful. So real quick, if you are interested in Celsius, I have a spreadsheet. It's in the description of every one of my videos. There's a link looks like this. And it gives you different alternatives to Coinbase. And I just talk about what I'm actually using right now and have used in the past. I'm pretty much just rank everything. And I can just tell you that right now, my one-two punch is Voyager to buy things. It's super easy, super fast, super simple, and it's free. And then, I mean, they get money by the spread, but I don't see that, so I don't really care. And then of course, then the Celsius DeFi Wallet or C-Fi Wallet, they actually pay you for what you store on their wallet. And the interest rate is fantastic. And so Voyager has interest rates as an APR or yields. And Bitcoin, you get like 4%. Voyager, you get 3.5%. For some of the stable coins, you get like USDT, you get 8.69%. What is this, Dash, 6.18%, 8.69%. I mean, it's like, it's fantastic. So definitely, I'm a big believer in Celsius. And I need to do a deep dive, which I'll do soon, but it's really great. And then you can take a look at all the other ones I got. Gemini and Uphold and Abra, Kraken and Etora, which I never recommend to anybody. So there's affiliate links here. You don't have to use them. You can go right to the website. That's cool. But if you do use your affiliate links, you get 25 bucks to sign up, depending on which one you pick. Summer's like 10, summer's 25, so that's it. So check that out when you get time. So moving on. The only reason banks would want to store Bitcoin is to use for fractional banking and start flying the crypto market with paper certificate trading. So before we move on, I need to make mention of what fractional banking is just so everybody's on the same page. So there is a fantastic documentary. It's just called Bitcoin Documentaries released just about a month ago. And it's about an hour and it's fantastic. I'm gonna link in the description. I can't show you the actual video where it talks about it because I will probably get a strike for copyright infringement. So I'm just gonna show you this picture which kind of lays it all out. So if you went to bank one, all right, and you put in a hundred bucks, they're going to, the bank is going to, and they can do this 97% of what you put in, they can lend out. So they're gonna keep the three on and say, it's just there in the bank. They're gonna lend 97 bucks to this guy. And this guy's gonna go pay for services and whatever else. And that merchant's going to take that money. This guy's gonna get 2,991 cents. And then that 94 is gonna be lent to this other person and this other person, this other person. And they can lend up to 97% of everything that they get. They don't keep money in the bank. If you went to the bank right now, and this is a big bank, you could go to like a big Walls Fargo branch, go, hey, if you had 250,000, well, if you did good for you. But if you went there and said, hey, I want my 250 right now, like, sorry, sir, or man, we don't have that kind of money here. You have to give us a couple of days to get that cash. It's all digital on a ledger. So that hundred bucks that you put in, they're just like, thanks, sucker. And then they lend out almost over 3,000 of that. So just imagine that by 1,000, 10,000, 10 million, and you can quite understand like how the banks would love to get their hands on cryptocurrency digital assets and really just make a paper certificate and kind of flood the market. And it wouldn't really matter. So anyhow, by issuing paper certificates, banks would be taking Bitcoin away from transparent blockchain transactional accountability and abuse that advantage to issue non-existent bitcoins, especially to mainstream adopters who have no idea of cryptocurrency networks operate. And that's very true. And that's the positives and the negatives about mass adoption. Like I said, like my mom, I stepped out, they will never do this. And that's the majority of people out there. They just don't want to understand. I think as time goes on, they will get it. But for people to come in and the banks do this, it's going to toy the loot, what cryptocurrency digital assets are for and what the whole concept is. So I don't really agree with it. And I'm never gonna use banks to custody mine. I mean, I have a ledger. So what's the point? I know how to use it and that's that. But I will say for mass adoption, I think at some point it's going to happen. Whether you like it or don't like it, it'll be out there. And to finish up, as the crypto report earlier, XRP stands at a huge advantage as the crypto of choice for banks which is already working with banks around the world. And look, that's why some people hate XRP. They talk about how it's not decentralized and they hate it and it's a banker's coin, and blah, blah, blah. And I want to say two things. First of all, I invest in XRP because I like to hedge my bet and I'll play a little bit within the system to make that revolution and to actually make things happen on a grander scale. That's my thoughts. Let me know what you think of the comments section. Let's move on. Speaking of banks, the Boston Fed is seeking a software engineer to work on digital currency projects. So this is a quicker article, not gonna spend too much time, but this is actual job posting that's been put out and it states the ideal candidate would have five years of experience in software engineering, familiar with AWS, Amazon web services, GCP or Azure and Proficiency and Java or C++. So you gotta be a programmer and you gotta be good. Great. This position is responsible for providing configuration, implementation and support of the applied FinTech research teams' efforts in digital currency experimentation, the job summary note. So for everybody out there who thinks that US is gonna drag its feet and really not gonna do too much with central banks, I think that they're actually getting it now because if they look what's going on across the ocean in China, they look what's happening in Europe, they look what's happening in different countries all over the world. They're like, you know what? We need to get our ducks in a row because we're gonna get left in the dust. So the Boston Fed, again, the Federal Reserve is about as federal as Federal Express, but they are interconnected with the government and I believe they see the writing on the wall so they're gonna get involved. What does this mean for the future? Not 100% sure, but I can tell you this. Anything that moves or progresses the step for digital assets and cryptocurrency, I'm all about. Now, there's a lot of pitfalls when we have a central bank who has a central bank digital coin and we talked about that at length on this channel. A lot of things about the government knowing everything that you spend, everything that you do, shutting off accounts and so on and so forth, but look, there's not much, there's a little bit of a difference in what's going on right now, but let me know what you think in the comment section. I'm not a big fan, but if it does happen, there's gonna have to be some kind of bridge currency and I'll let you, your imagination run wild, which one that might be. All right, let's move on. Next up, this is interesting. Winklevoss's Gemini will now keep your unstoppable domains safe. So what's going on? Just in brief to break this all down, Gemini are going to hold on to uncensorable.crypto web domains. They're Ethereum based.crypto domains are non-custodial, which makes them censorship resistant. That is the big thing, censorship resistant. I have a couple of different websites for my businesses and they can be shut down at any time, but if you have a .crypto or a .zil website or domain from unstoppable domains, they can't shut them down. It doesn't matter what you do. So that's pretty interesting. But this is for a custody service and it'll be useful for businesses who wanna keep their crypto domains safe. So what is this all about? So this paragraph pretty much just says what I'd already just said. And then it says the reason why they are uncensorable is because .crypto domains are just tokens held in Ethereum wallets, which is weird to think about, right? Your whole domain is in Ethereum wallets. It's just, it's odd. To be precise, a .crypto domain is a unique non-fungible NFT token, the same kind of Ethereum token used by things like crypto kiddies. And since this inception unstoppable domains has sold 260,000 .crypto domains to 21,000 customers. And the whole reason that Gemini is getting the whole fray, and this is the CEO again, Cam said that custody services are useful for people who wanna keep their .crypto domain safe. If you are not doing anything with your domain right now or maybe not doing anything particularly controversial, you may wanna stir some of them in a custodian for some period of time. You can always move them right out. So I got interested in this because I'm still trying to create, and I'm getting closer and closer every day, to getting that my free website up where I just explain the different parts of crypto cryptocurrency assets. So I was looking at different options and unstoppable domains actually came up. So first of all, I was thinking about this because in the internet days, how some people, actually a lot of people, made a good amount of money was people didn't understand about the internet. Like we've always talked about, right? And then what some smart people did is they started to buy up domains. I mean, things like happy.com, pets.com, sidewalk.com, johnsmith.com. I mean, everything you think of, they just started to buy because it was so cheap. And they knew that at some point people would actually want to buy that website. Like I remember Casper, Casper.com. Somebody had bought that and then Casper is something like a betting company and they paid like a couple of million dollars for it. Now the guy had to hold on to it for like a couple, like 10 years or more. But I mean, imagine you buy for like 100 bucks or 10 bucks or whatever it was and you get like millions of dollars. So the same type of thing is going on, I think, with unstoppable domains. A lot of people are buying things up because they're like, oh, so I can get like, let's just look for a domain real quick. Jonathan Smith, the third. Or whatever. And there it is, you get it for 40 bucks. Let's take a look at like, I love digital assets or whatever, 40 bucks. Let's look for Bitcoin rocks. I don't know, 20, damn, Bitcoin rocks. Oh, so it's actually just taken. But I mean, 40 bucks. So if you think about it, like all the things that could be used in the future, this might be a good idea if you want to play out for the long term. So I think that's pretty cool in that regard. I actually bought my domain. It's just danlikes.crypto and that's it. So it's pretty simple, danlikes.crypto. And that'll probably be the website itself. But what's great about this one is not so much about getting a domain or a website. What's really cool about this is that what I can do with danlikes.crypto is that if you have a specific wallet, it's like my Aether wallet or the Atomic wallet, you can send any kind of cryptocurrency, any kind. It can be Bitcoin, it can be Ethereum, it could be Zillica, it could be Tomato Coin. It doesn't matter, all of them. You can send it to danlikes.crypto. Instead of those long numbers, two, four, seven X, five, two, four, the big long ones, which some people don't mind. I think they're ugly. And I think it's just like the days of using like an IP address to find a website. No one does that. We just go to unstoppabledomains.com. We don't go to one, three, five, seven, eight, whatever it is. So like with this, I think it's going to help with adoption. I think it's pretty cool. Now, you can only do that with certain types of wallets. And these are all the ones opera, trust, my Aether wallet, Koinomi, Atomic, who will be view block, Koin request. So all these different types of wallets you can use to send to any kind of dot crypto domains. And it's pretty cool. So it just kind of makes things a lot simpler. I like that part. And then what'd be great is instead of having some super long website, because all the .coms are taken, you just have a .crypto website or a .zil. So that's the interesting part. So if you're interested in picking up a domain, I've got a link. It'll get in the description of every one of the videos now. I just started it. So it looks something like this. So when you click on that, if you want to pay the 20 bucks or 40 dollars or whatever it is that you're doing, and then go bananas, whatever you want to do. So that's it. That's it for today's video. I want to say thanks for sticking with me. I do want to give a shout out to just random members who have joined. Now, if you don't know, underneath in every one of the videos, there's going to be a join button. And I don't hold anything back. It's all, you know, I don't give stuff to members and non-members. I just, it's a buck 99 and people, you know, it's like giving like a tip. And then in the live streams, you just have a badge next to her name. Nothing great, just if you want to. Fantastic. So I just want to give some shout outs to some new ones and some old ones. Michael Jeffery back again. Hizzo Chua, DJ Hauser, that's a good one. John P, all right, soft. Look at that. Azrael's Passage, that's a nice one. Jesse B, Young Boone, Jono, David, I see David around. Medic, RVN Medic, 1968, my man. Will Cunningham, beloved Rashid Khalid and Joel Beckham. So just random shout outs. I want to say thanks to everybody. Really appreciate it. Thanks for sticking with me. See you on the next one.