EP 199: THE CRYPTO BILL PROVES LCX IS THE STANDARD FOR REGULATION | CRYPTO WILL CHANGE BY NEXT YEAR - Transcripts
In today’s podcast I go over the crypto bill and its ramifications to the market. I also discuss why LCX & QNT are going to thrive with if the bill passes. Enjoy!--- Support this podcast: https://anchor.fm/cryptologicpod/support
up? Cryptologic podcast listeners Welcome to episode 1 99. today is a busy day for me today. I wasn't gonna make a video or podcast. Today I had moved scheduled the podcast this week to next week. Um so the one that I was gonna have this week with Alan, the mmt guy. He's the first one of the first N. F. T. Um Crypto N. F. T.
People that I'm going to have on the channel other than Sage. Sage was the first M. T. And Allen's primarily N. F. T. He's gonna be on probably next week or the week after. We'll see we change the scheduling from this week. Um and then we're gonna get cold cereal on here. He's a member of the discord, One of the mods, amazing individual. He's super dope. He's been on the podcast before.
And then I'm probably gonna have someone from the X. R. P. Community come on as well too. So those will be the ones that are lined up for the next three weeks or so. So yeah there wasn't gonna be a video today. I wanted to make a quick um podcast uh slash video for Youtube and I'm gonna throw this on Spotify and stuff like that for this week as well. And I'm just gonna go over some news and some things that I wanted to talk about that. Obviously I didn't want to wait until friday and I'll go more in detail on friday in the youtube video but today's podcast. I want to go over and discuss some things that are going on in the crypto space. Right. And I'm actually learning more about micro and macro economics overall outside of just crypto because I want to be prepared for what's going to happen here in the next, You know, 12 to 18 months, potentially, 36 months with what's going to happen with the rest of the world, right?
In regards of what's going to change for us and how the new monetary system is going to come in and basically take over and we will be on the right side of history if you are paying attention to this type of type of stuff, if you're researching this type of stuff and you want to be someone that wants to take advantage of the opportunity that's in front of you and become something that become someone that can change the trajectory of your future by investing in the earlier technologies of tomorrow. So the first thing I want to cover Is chain link, chain link bounces nearly 25% after release of a new long term roadmap. So to me, chain link has been just sitting idle for a long time and they finally released something that has a potential plan for their future right staking is a key mechanism that brings to aim that aims to bring a new layer of crypto economic security to chain link where crypto rewards and penalties are applied to help further incentivize the networks proper operation. So the release of the Roadmap sent Shane Lee flying as a rally from 728 to a peak of 898. As at the time of writing link is up 10% on the day. So they're releasing um chain links thinking they're gonna release uh they provide real time data for smart contract platforms. It'll take the samples with staking. So they're gonna they're gonna roll out of staking mechanism and they're going to b Yeah it's supposed to launch the second half of 2022. So they're they're they're launching new things or they're changing the way that chain link is going to work and adding new features to it. I still believe chain link is gonna be a long-term successful project that if you invest in you can become fairly wealthy from in my opinion. I don't hold any chain link but that's something that I plan on adding on to my portfolio at some point. Um As soon as I'm getting hit my target rates, target goals of quant and also very close um more closer to L.
C. X. Because obviously it's cheaper almost there as well. Um But I'm trying to get there and once those things are done I can move in the dollar cost averaging money that I have on Quanell C. X. I can roll that over into the new um uh link or more flow or lines block kitty et cetera. This is also big news that came out the other day yesterday actually been ince's facing the sec investigation of BNB token as crypto giant responds to money laundering allegations. So now the sec is pro being and getting ready to go after been in. They haven't officially gone after them yet. They have announced that they were looking into this and we're waiting to see if the S. C. Is actually gonna launch an investigation.
Um It's been it's going to quickly settle or are they going to fight back like ripple did that's the question is are they going to quickly sell are going to fight back? What does this mean for the entire crypto space? What does it mean for exchanges? It's for damn sure he means. Well sex is gonna be fine because um L. C. X. Has already pointed out that they they've done everything the correct way as well as quant quant has said that they've done in the correct way. Um I'm gonna show you some stuff from the discord. So that's why I highly advise if you guys are not in the discord, click the discord, click the link and join the discord. If you guys are listening on Spotify. I'm gonna make sure this is a video too click the link in the discord um In the stiffy and join the discord and trying to like minded people because we talk about this stuff every day.
So bin ins has potentially could be sued. And this could have massive ramifications for the crypto space in regards of exchanges and and crypto in general because finance lists a lot of tokens so if they lose or they settle the sc might tell them, hey, delays, delays, delays, delays, a token that they want that they deem securities without having to go after these potential tokens on their own. They can just tell them to do list and then all these other exchanges will have to follow suit because like damn if they don't have to finance, they're gonna go after us. So let's just do what they do. It's just it's just it's that's why people are saying they actually trying to enforce regulation. They're trying to be enforcers and I really like the fact that the Loomis bill. They wanted to switch that power over to the Cftc. Make crypto as a commodity, not a security. Right? So they're saying that the global crypto exchange violated security laws when it began selling its BNB token. So according to the report, the investigators are looking at the 2017 initial coin offering of being be determined if it resembled the issuance of unregistered security. It's so stupid.
Um I think that's the stupid in my opinion, but we'll see what happens. Obviously we'll keep you guys up to date on this as we move along in our crypto journey together. Um today's podcast slash video isn't gonna be too long. Like I said, there wasn't going to be a video today. I just want to throw this in together because these are like massive news, I feel like I can't wait till Wednesday to make this friday to make this video. So I had to throw some of these things in here and talk about it, I talked about this in the, in the discord and friday will be more in depth Um but today it's just kind of like a maybe a 15 minute video, 15 minute podcast of what I wanted to talk about and I wanted to let you guys hear my thoughts on it so far, so, but going to discard, ask me any questions you guys want and yeah, so this happened today, ethereum is rob stein testa has completed its merger. The first test net dress rehearsal sets the stage for a theory of impending transition to proof of stake, this is going to change the face of crypto. The ethereum Blockchain is first dress rehearsal for its upcoming merge was successfully completed Wednesday. The outside network successfully merges, proof of work execution layer with the beacon chain of proof of stake consensus chain, a process identical to the one that the main ethereum network will undergo in just a few months if all goes well, so they tweet us out here, the rob side network just merged one of the last 10 minutes until we emerged on that they're in maine net emerges along the way to Moscow and theorems journey towards a new proof of stake, consistent mechanism. Currently ethereum depends on proof of work whereby miners expend energy to discover new blocks and add them to the Blockchain, earning newly issued ether and a portion of transaction fees And tips. Once ethereum shifts from proof of work, proof of stake validators who have state that required 32 E will take over the role of adding new blocks to the new to the new Blockchain. So this is good news because this needed to happen prior to the merger final merger to take place.
This is just a test. This is basically like the writing rehearsal, right? So if you are or party rehearsal, whatever right, you have a party, you go over the rehearsal, the rehearsal dinner, right? You go over everything, make sure everything works, everything was good, the lines, everything, the drinks, everything was okay, this is good, the sound check everything. All right in august, let's get this ball on the road and we'll see what happens to Krypton after this deer moving with a proof of stake is that they're gonna be quick and fast. Like an avalanche is going to be um, able to scale is going to crash X. Alana if the hearing goes well and it works and it's smooth. I'm gonna blow up right here. I'm gonna go to the moon. Um, not financial advice. This is good news. This needed to happen alright.
And this right here, I want to talk about really quick. Um, the Loomis bill, there's a lot of fun going on with it, but I I think it's okay. Obviously, you guys know that this isn't gonna be final, there's gonna be revisions. Um, it's not easy to pass things in Congress, There's gonna be revisions and stuff like that and rejection and stuff like that, bipartisan crypto regulatory overhaul would treat most digital assets as commodities under Cftc oversight. That's what we want. Senators, Cynthia, Loomis and Kristen Gillibrand introduced legislation on Tuesday to create a regulatory framework for the crypto markets. The Loomis Gillibrand bill would classify that vast majorities of digital assets as commodities. So the Responsible Financial Innovation Act would empower the commodities futures trading Commission to regulate most of the industry. So she's saying that, um they introduced their first major bipartisan legislation aimed at taming the Wild West crypto market on Tuesday. Right. And the main thing she says here is, he says you need basic rules of the road. What did I say a long time ago for a while now, I said, we're on the road with no traffic lights, pave road.
We're going through the hurt and the destroyed no structure and trying to get to our destination. The elites are waiting for racing rules, They're waiting for the traffic lights, they're waiting for the paved roads, crossing signals, all that stuff we're just going through on this dirty, dirty gravel road while they want everything to be nice and smooth and clean before they get on the road and start taking their and then when they do, they're gonna push us off the road and make their way to their destination and then take over crypto. That's my opinion. But we can hop on and we can hitch on or get there before they do. And when they open the doors we can sneak right in behind them. So one amazing thing as to why I think you guys should be the discord is because of things like this. And I'll show you and I'll show you the discord. And so in the discord, we had conversations about ah L. C. X. And the Loomis bill. Right?
So right here, shout out to Otylia. He says first screenshot is from the article published yesterday. The other screenshot is from L. C. X. Site. Hopefully the pieces are coming together for those with an L. C. Exposition in the future. So it says, my home state of this is from the bill, right? My home this is regarding the article with the bill. My home state of Wyoming has gone to great lengths to lead the nation in digital asset regulation and I want to bring that success success to the federal level.
Loomis said in the press release at this industry continues to grow. It is critical that Congress carefully craft legislation that promotes innovation while protecting protecting the consumer against bad actors. Gillibrand said their bill will provide clarity to both industry and regulators while also maintaining the flexibility to account for the ongoing evolution of the digital assets market. According to the press release right? And then this is on L. C. Access page. L C X. Us incorporated in Wyoming, L C. X inc US was incorporated on june 30 23rd 2021. The company has been registered in Cheyenne in the state of Wyoming, Wyoming which like Liechtenstein has embraced the next generation of decentralized finance and is establishing regulatory innovation and legal framework in the field of Blockchain and cryptocurrencies. L.
C. X. Register as money services business at Finn sent financial services. And it shows here her why she said her home state of Wyoming has gone to great lengths to lead the nation and digital asset regulation. So Wyoming, she's saying Wyoming has taken the initiative and figured out how to regulate crypto or whatever they're on the road to figuring out how to regulate crypto and she wants to bring that success to the federal level. Repeat that again, she says, my home state of Wyoming has gone to great lengths to lead the nation in digital asset regulation and what is said here, L. C X. Is incorporated in Wyoming. The company has been registered in the Cheyenne, in the state of Wyoming. Wyoming, which is like Liechtenstein has embraced the next, which like Liechtenstein has embraced the next generation of decentralized finance and is establishing regulatory innovation and legal framework in the field of Blockchain cryptocurrencies. L. C.
X. Incorporate in Wyoming, Wyoming. It's like Liechtenstein, L. C. X. Base in Liechtenstein digital regulate crypto regulation. Good in Lichtenstein. Crypto regulation Good in Wyoming, L. C. X. Registered in Liechtenstein or home based in Liechtenstein, registered in Wyoming, L. C.
X. Equals safe. L. C. X. Equals regulated. L. C. X. Equals the standard L. C. X.
Literally looked upon as oh they know what they're doing, they're doing everything correctly the right way. Tell me if I'm reaching, tell me if that's over the top or that's doing too much. That's that's second guessing. That's why I think L. C. X. Is one of the biggest sleepers in the crypto space today at six cents With the potential to hit $10 up to $100 and making millionaires multimillionaires With 10,000 tokens, Right? tokens, whatever the case may be. And if you go in there and you look in the discord look at this, we talk every day about regulation about crypto even um gilbert, the ceo of quant, he says, I think everyone knows by now my view on regulation and how it is a good thing to clean up the noise scammers and keep consumers investors safe. We've been in line with regulation from the beginning and use professional services to to comply to regulation in Switzerland. We purposely didn't allow any U. S.
Participants as the sec guidelines were not there in 2018. The things that ripple did have triggered security laws in the US paying for exchanges market Market making to affect x. r. p. price and selling to us investors has caused the sc to enforce the lawsuit. You all know by now and hopefully understand clear now why now, why we have made these business decisions since 2018 to stay compliant to regulations. We have stayed away from any of those activities. Quiet is good. All right. So tell me what you guys think in the comments, tell me what you think in the discord quan Safe in my opinion, LCS safe in my opinion, ripples literally going to the lawsuit. They'll be safe once they get out of it. The lawsuit went.
The Kieran went well for them yesterday. The judge was furious with that because he kept rambling and ranting. Had to readjust what they're saying five different times. Yes. Even the judge was like making fun of them. It looks like the documents are gonna be allowed to be used that the documents, him and documents are gonna be allowed to be used in court and ripples settling or if they go to the end and they end up losing. It's just it's just bullish news for for crypto with I missed the fun and I missed the market tanking right? We have to worry about inflation being rising next week after the meeting. They're probably gonna inflation that's gonna cause another massive drop in the crypto market probably we have to wait and see about that. We have to wait and see um how long they're gonna continue raising rates and then when they pull back that and once they pull that back the market's gonna pump again. But remember when the video I did on monday the market's gonna pump again. But that that's not going to be sustainable.
It's gonna crashed down again eventually. And that's why I would highly advise no offense advice. I highly suggest people take profits when they can where they can and if they can if you're profiting Go back up to $400 $5 take some profits protect yourself to buy more if there's another when there's another when the second crash comes. But right now I want to say stack cash either D. C. A. Or stack cash stack table coins and also quick announcement shout out to everybody in Discord coach cereal. Super stranger Clerk EO profits everyone in here. Um that this discord is amazing. I love this community. Um I asked the question today before I did this while I was on air pretty much and I was waiting for people to answer. I said in a week or two you guys want to do a podcast am a style where we can talk discuss questions you guys ask bring up from the discord.
So I want to set up a podcast episode maybe once a month or once every or twice a month where I'm basically live on the podcast or I'm doing the show and we'll have a section where I'm like all right, you guys firing your questions, firing topics and they'll have on gas or whatever and we just talk about what you guys wanna ask. Direct from the discord and at some point I'll do it on Youtube as well. So I'll be able to ask questions and talk about stuff on Youtube. But primarily we're gonna start off with the discourse that goes and then transition into doing it on the Youtube and then go from there. That's something I need to think about and I'm playing that out. I'm telling you guys need to join the discord and be surrounded by like minded community. The last thing I want to talk about real quick is on that episode along with my party, my shortest podcast ever monty he tweets out first time in history. The next generation of lawyers will learn about this in class from their professors subpoena delivered as entity to hacker wallet by L. C. X. Lawyers and and by order of new york Supreme Court. Amazing work by Holland night and bluestone law.
Hashtag content of 2022 1st time history and important for ledger. Legal. Let me read that again first time in history and important for legal and crypto industry as a whole a temporary restraining order T. R. O. To a defendant has been served via N. F. T. Right? So I guess what happened is they took some. So it says L. C.
X. hack of almost $8 million dollars Usd in January 22. Now approximately 60% of stolen funds frozen. So 60% of the money that was stolen in 2022 January is now parked. Mhm has been frozen. It's not part investigation and internal international collaboration with law enforcement in Liechtenstein Ireland Spain and usa successful tracking stolen funds laundered by 200 cash. Crypto mixer hacker while it's identified, 500 are frozen due to Liechtenstein court order served by law enforcement in Ireland to corn based europe. 1.3 million U. S. C. C. Are frozen.
This is huge news. This is the first time in history. This is this is going to be something that's going to happen here in the future. And L. C. X. Is the first, I'm telling you. L. C. X. Is always the first. They're the first to do a lot of things and to change the game.
Their first to be regulated. They're the first to offer security tokens legally and um with regulatory compliancy compliance. Um And they're going to be the first to figure out how to successfully recover money through basically lawsuits and through the judicial system, right? Not just through crypto but through a legality point standpoint. And that's why it's just more information That allows me to be completely 100% bullish on L. C. X. and makes me not lose sleep by night investing into LCS. I just think long term L. C. X. Is gonna change a lot of people's lives.
Um and I'll change my life etcetera. But I'm very excited um about it and that's all I got for today. This short video of short podcast for you guys go over some things how I feel. Um And I'm very busy. There's a lot of things I'm working on. I'm working on something very huge uh in regards of X. R. P N. F. T. S. So my entire collection is launching soon.
Um working on that. Behind the scenes shot at the Bear studios. He and his team are the developers behind it. I'm very excited to announce this for you guys. I'm freaking out the road map right now and I'm figuring out how to get this thing rolled out. Um You guys aren't following me on Tiktok following on Tiktok. Follow me on twitter, Follow me all over the place. I spend as much information as I can. I go as best as I do as much as I can for you guys. And yeah, during this court, I'm very excited about hosting the M. A. S.
And stuff like that with gas and stuff. Um It'll be awesome. I'm very bullish for the future of crypto and the bullish of life in general, even though there's a lot of chaos going on. But yeah, hope you guys have a great Wednesday, Great West week. I'll see you guys on friday with a new video. I'm gonna go more in depth into a lot with a lot of things. Um, I got, I'm gonna hop on, I'm gonna be on crypto insights podcast. Um, he wants to do a Tiktok live with me. So probably we're scheduling that soon. I got a lot of things I gotta schedule, but um, and then I got two or three more interviews coming up in the next few weeks, but today was just a crazy hectic day. So I just wanted to take some time out to make this video for you guys, this podcast for you guys next week. We'll be back back on with another full uh, you know, hour long podcast, whatever the case may be, technically, I was supposed to drop last week's two part podcast today, but I just dropped it back to back days.
Um so I was trying to do on my schedule, but I messed up by doing that, that podcast, that second part two was supposed to be today, but it wasn't, and then I was supposed to have any t uh podcast today with MT creator. We moved out to next week or something like that. So it's getting crazy. Um very excited though. A lot of good news coming. Um, I'm gonna make sure I keep up today with you guys. I'll see you guys on friday. Be safe out there peace.