CryptoBasic Podcast

Your source for all Cryptocurrency information, made for the novice investor. 

Episode 172 - Flagship time

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Coinbase is adding a debit card - is crypto being adopted sooner than we think? Who knows?! We also go over the Wikileaks founder Julian Assange being expelled from his embassy even though we don't know anything about it - and we reiterate that Craig Wright isnt' Satoshi.

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Flagship Friday 172

  • Rapid Fire

    The LA Times and Washington Post opt into their BAT contributions

    Harvard invested something around 5-10M into Blockstack token sale.

  • Coinbase Releases a Debit Card with VISA partnership. - Brent

    • YAYYYYY A REAL CRYTPO DEBIT CARD FINALLY
    • Not in US.
    • UK only, and they have plans to expand to the rest of Europe. No plans to expand outside yet.
    • Card uses assets directly from your exchange.
    • It sounds like those cool bank accounts, and it's functioning off of something originally built by a company called Shift Payments, that worked with coinbase funds as a third party. A company called Play Safe is issuing the actual cards.
    • Fees - again these cards are expensive af to use.
      • ATM - 200 pounds free, then 1% after that domestic. 2% Foreign.
      • Domestic Purchase - None
      • International 3%
      • Card initiation fee and replacement fee - 4.95 Pounds
      • Overdraft fee is 20 pounds
      • Oh also there's 2.49% transaction fee on the crypto liquidation
  • The first picture of a black hole opens a new era of astrophysics. The supermassive beast lies in a galaxy called M87 more than 50 million light-years away - Karim

    • Few props to Event Horizon Telescope

      • In theory imaging a black hole @ this wave length would require a telescope as big as earth, EHT simulates it
      • Global network of dishes collects & records radio waves, combine data to create new images, has to be perfectly synced
      • Atomic clocks used to ensure stability (1sec per hundred million years),
      • amount of data so large it could never be transferred over the internet. Stored on hard disks and shipped to central super computer to put data together
      • Super computer also staggers data based on when light waves hit
      • More dishes more resolution
      • EHT Network

        Lessons

      • Really black hole, General relativity FURTHER confirmed

      • Gravitational Dynamics of starts better measures of black hole masses than observations of gas
      • This is a rotating black hole, accretion disks made of matter definitely there
      • Proper resolution requires resolving power to be better than the size of the object you are looking at (resolution)
        • Only 3 known black holes in the Universe have a large enough diameter for the current EHT - Sagittarius A, center of M87, and the center of a radio-quiet galaxy called NGC 1277
        • But we could increase the power beyond size of the Earth by launching telescopes into orbit!
      • we absolutely could not have done this without a global, international network of scientists and equipment working together
  • NY Department of Financial Services - Bit License - Brent
    • Basically Bittrex has been operating in NY if I understand it correctly.
    • This will only affect customers in NYC - but it's honestly concerning.
    • We've linked to the actual letter from the Bit License division of the NYDFS
    • They had transactions with Sanctioned countries
    • They randomly exclude people from their cash monitoring
    • The board of directors minutes never included any AML/BSA/OFAC issues.
    • The compliance officer is called out as inadequate.
    • They say there's a lack of trainig. I've been through AML training, it's a fuckin joke. If Bittrex wasn't even doing that I dunno what to tell them.
    • They had an audit and presented that report, but refused to explain the process behind the conclusions or the engagement letter between the audit firm and Bittrex. (which is basically a less legalese contract)
    • Here's the best one. They didn't do customer due dilligence. They had names on accounts such as "Elvis Presley" (ok we can forgive that) "abc-abc" (clearly Roger Ver) "Donald Duck" and plenty of obscene terms.
    • They were unclear and wishy washy on how to handle corporate customers who may own some percentage of a project or business.
    • They had a process for listing tokens, but NYDFS pulled 15 random tokens and foudn that some of the founders refused to finish the paperwork, and some of them had no application at all.
    • THEY HAVE NOT AGREED TO HAVE THEIR CAPITAL EXAMINED.

Crypto Around the World

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Episode 171 - SEC Decision, Trons Lambos, and tons more news.

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Flagship Friday 171 (4/5/19)

  • Rapid Fire

    https://imgur.com/1tZ5FU3

    Twitch has removed crypto as a subscription payment method. (Honestly forgot they took it)

    Nanex Exchange is shutting down get your nano off.

    DASH is now default instant send - meaning private (And likely higherish fees). Might mean it's time to take another look.

  • SEC Statement On Crypto - Adam, Karim, Brent

    • Not experts
    • Looked over it, and it all seems very "plausible deniability"
    • They list out a bunch of factors that would make it OK to not be a security....then they say "Although no one of the following characteristics of use or consumption is necessarily determinative, the stronger their presence, the less likely the Howey test is me"
    • To me that literally means nothing...mostly.

      • The network is fully armed and operational
      • Holders can use it on the network right away.
      • The asset is designed to meet the needs of its users, not to feed speculation.
      • The value should remain stable or depreciate over time (dafuq?) specifically saying don't hodl.
      • If it's a currency it needs to be used to make payments - like really needs to be used for goods and services without converting it first. That or it's a store of value.
      • If it represents another good or service it can be redeemed and is pegged to that value.
      • Economic benefit is incidental.
      • Marketed in a manner that emphasizes the functionality and not increase in value- and if you'd like to advertise with us please reach out.
      • Restrictions for transfers are not for speculation but are a part of the use case.
      • Again "Digital assets with these types of use or consumption characteristics are less likely to be investment contracts."
      • And "The discussion above identifies some of the factors market participants should consider in assessing whether a digital asset is offered or sold as an investment contract and, therefore, is a security."

      Statement on "Framework for 'Investment Contract' Analysis of Digital Assets"

  • Don't Buy Bitcoin - Karim

    • From CNBC
    • Basically Crypto blew up, but before you go buy!
    • Peter mallouk "What we're going to see, most likely, is, we're going to see cryptocurrencies collapse."
    • There are so many types of virtual currencies — like litecoin, ethereum, ripple and, of course, bitcoin — that "there's no way that even a fraction of them can survive,"
    • "in the meantime," if you buy cryptocurrency, "you get no income. It's not a real investment. It's speculation."
    • Then compares it to the TV "tv worked out but everything that comes out of it we dont want to watch. Palm and Blackberry were fantastic, but Apple came in and took them out. Lycos and Excite were here before Google."
    • Then Kramer - Bitcoin Mafia, go to Vegas
    • JP Morgan quote Jamie Dimon "Bitcoin is a fraud"...but dont mention they developed a crypto

      Don't buy bitcoin, warns wealth manager: We're likely 'going to see cryptocurrencies collapse'

  • Bithumb Hacked for $13M - Brent

  • Bullish or Bullshit - Justin Sun Gives away a Tesla on Twitter

    • Our boy Justin Sun is at it again.
    • He announced a $20 Million Dollar Giveaway on Twitter
    • On March 27th they were gonna draw a winner of a Tesla.
    • So they had a video where they were picking the winner, and they uploaded it...and then deleted it saying there were compression problems.
    • This is the internet tho so here it is
    • @uzgaroth (XRP_uzgar) was the twitter user that was supposed to win. He was the 88th name drawn because I guess the first names didn't meet a criteria.
    • Justin tweets and says the team decided that only live streams are acceptable for drawings, oops.
    • In the original video there's a fucking frame where the winner actually appears before the drawing.
    • They go as far as congratulating him on Twitter.
    • Don't worry, it has a happy ending. XRP_uzgar gets a ticket to the Tron summit and all expenses paid to fly out and see it.
    • That was the resolution for a couple of days.
  • Crypto Around the World

  • Bull Signs

    Andreessen Horowitz Is Blowing Up The Venture Capital Model (Again)

    • Andreesseen Horowitz filed to become a registered investment advisor (RIA) in part to gain flexibility in crypto investing, all 150 employees are registering as financial advisors. Less relevant is the firm is raising 2-2.5 bill growth fund expected to close in the next few weeks.

      Cryptocurrency trade volume hits new all-time high - Coin Rivet

    • $87 bill volume, eclipsing the previous record by 16 bill, set in Jan 4th 2018. Last week's average was $31 bill

    • BTC is now above the 1D cloud on massive volume and flipped bullish for the first time since early 2018. 🤑. For all you technicals out there it's called the Ichimoku cloud. First time in 15 months, 442 days to be exact that a positive candle was closed on a chart

  • Shots Fired!

    Waves takes a shot at our boy Justin

    Brent makes a post

    Elon Musk shits on Bitcoin

    Elon Musk shits on the SEC... not Bitcoin =)

    Did send Doge price up 27%

    But says "dogecoin value may vary."

  • Mailbag

    Jerry from Cedar Rapids, Iowa asks what is your absolute favorite coin out there?

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Episode 170 - Peter McCormack of The What Bitcoin Did podcast

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Peter McCormack is a podcaster with a particular love for Bitcoin in the space. He's flown around the globe to interview some of the most important people in cryptocurrency, and he's really done well along the way.

He's interviewed people that won't sit down with anyone else, and he's done so consistently for years. Peter decided he would come on the CryptoBasic Podcast and have a chat with Brent about podcasting, the pressures, the problems, and of course - how he wouldn't trade it for anything else.

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Flagship Friday 65 - Weiss Ratings, Fake Trading Volume, and more.

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Today we talk about everything from Formula One Racing to Metamask. Karim, Adam, and Brent are hardly able to even get through a rapid fire section without some commentary, and they go over the dumb and dumber that is the Weiss Ratings on this edition.

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Episode 169 - Flagship Friday

Today we talk about everything from Formula One Racing to Metamask. Karim, Adam, and Brent are hardly able to even get through a rapid fire section without some commentary, and they go over the dumb and dumber that is the Weiss Ratings on this edition.

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Crossover Podcast with the Bitcoin Takeover

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This episode Brent did a special crossover with Vlad from the Bitcoin Takeover podcast. Obviously based on the name we needed to keep it Bitcoin, and of course say good things about it. 

That didn't stop Brent he got some good information in there about altcoins, and even admits he was too harsh on Bitcoin itself. Find out how they feel about BTC across the pond, and maybe learn about some political views along the way. 

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Episode 167 - XLM and IBM, XRP, Tether, and more.

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Episode 167 - Flagship Friday

On Today's Episode the team talks about Tether, Binance in Austrailia, and the big news being IBM partnering with Stellar. Is this a real partnership? It probably is, but is it good for Crypto currency? What does it have to do with Ripple and XRP? What kinda cereal are the boys fans of? Find out now.

Co-Founder of Wikipedia says that you should use Brave.

Coinbase Pro ends 0% maker fees.

Presidential Candidate Andrew Yang was tweeting about bitcooin corrections in 2013!

  • Tether is not fully backed by fiat (Bullish or Bullshit?) - Brent
    • From Tether's New Terms - "Every Tether is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, “reserves”). Every tether is also 1-to-1 pegged to the dollar, so 1 USDâ‚® is always valued by Tether at 1 USD."
    • They also made a proof of funds page, to make it seem like they're on par with other stable coins that show what they have in reserve...It's the same document from months ago that says they totally had the funds on a specific day.
  • Binance Lite Becomes the Firm’s First Fiat-to-Crypto On-Ramp in Australia - Adam
    • Over 1300 newsagents (whatever that is) will have access to bitcoin
    • In order to remain compliant with Australian regulations, users need to register with Binance Lite. There's already a map charting all the newsagents in Australia where you can utilize this.
    • Binance is making strides to make their presence known world-wide. Pretty insane for a company less than 3 years old.
    • They also have plans to do the same thing in Singapore.
  • IBM Partners With Stellar - Brent
    • 72 Countries, 47 currencies, 44 banks.
    • It's called the IMB Blockchain World Wire.
    • This is basically IBM entry and exit points as a trusted gateway on the Stellar Network.
    • I know they have their own internal Blockchain services.
    • Reddit hates IBM
    • It's already live.
    • Discuss - why didn't they choose XRP?
  • Facebook’s blockchain cryptocurrency could kill 'fake news'? Or just make them money - Karim

    • As we've covered before FB has begun developing their own cryptocurrency (bloomberg and NYT)
    • FB has not confirmed reports, just admitted to exploring DLT, so the rest of the story is from unamed sources
    • First they claim the crypto would allow you to send money to your WhatsApp contacts, so taking on venmo & paypal -
    • NYT report claimed they already talked to crypto exchanges about it, others argue theyd use a stable coin
    • Barclay's internet analyst Ross Sandler said FB coin would make the company $19b by 2021

    • part of the idea here is higher customer conversion rates, you already have currency on the platform and FB keeps payments in their own network

    • FB could also use cryptography to authenticate users through hash keys, and making sure people posting new are people and not bots (dont think this really handles it)
    • Could also help with General Data Protection Regulation (GDRP) since users could control data and delete it by for example deleting their hash, making info not accessible
    • n order to authenticate them; it means Facebook now becomes the repository for a lot of personally identifiable information....
  • Cisco Reports: By 2027 Blockchain Will Capture 10 Trillion of the Worlds Wealth](https://toshitimes.com/by-2027-blockchain-will-capture-10-trillion-of-the-worlds-wealth/) - Adam

    • By 2027 blockchain will capture 10 trill of the world's wealth.
    • This is from Cisco, not just anyone talking about blockchain
    • Joe Lubin believes in twenty years half of the world's wealth will be on blockchain
    • True innovation is the ability to automate trust between two parties using it
    • Cisco report claims 83% of execs believe trust is the cornerstone of the digital economy
  • SHOTS FIRED! (There's one of these big enough for a story)
    • Craig Wright Leaves Twitter! (Bullish or Bullshit?) - Brent
      • He deleted 10,000 Tweets in about 24 hours.
      • He decided to say he'd sue anyone that copied his tweets or harassing him.
      • As you know the internet usually responds well to this.
      • Bots were popping up left and right with his name on them.
      • Even Jihan Wu from Bitmain was following the fake CSW account.
      • Some stupid Tweets by CSW.
        • He complained about not being in CoinDesk's most influential people in Crypto. Coindesk responded. "But...but...'Satoshi Nakamoto' IS on the list! ;p"
        • in 2017 he said 2018 was the year of BCH.
        • He said Bitcoin isn't Trustless earlier in 2018.
        • Told people who thought Bitcoin was permission-less to go work on EOS.
        • Said BTC would go down to 1000.
        • He answered the question "Will you attack your enemies or let them all on their own" with "Yes"
        • This is it. Screw you Toddler. I am going to undelete my writings. You want competition... screw you. I am going full billionaire mode. You want this. You get it. You asked for this. You will not like what is coming! You think I cannot choose what I prove, to whom.... watch - June 2018
        • He tweeted in August 2018 some code out as a response to someone saying he couldn't print hello world - it was copy pasted.
      • Remember that one of Craig's proof attempts that he's Satoshi are from a paper he wrote in "2001" that was very similar to the Bitcoin whitepaper...but it was similar to the 2nd draft that was released not the first lol.
      • And of course his "signature" was just public information as well.

Episode 166 - Adam Levy is Back, the Crypto Movie is coming, and was NEO down?

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  • Rapid Fire
  • This Stupid Ass Movie - Shoutout @anthony in the CB Discord.

    https://www.youtube.com/watch?v=kYZut3DWvek

  • The NEO Blockchain was DOWN for over an hour. (BULLISH OR BULLSHIT) - Brent

    • This was because of ONE node.
    • Obviously the response was "centralized POS"
    • But, this is what we're supposed to get.
    • The way their consensus works is that if they do have a downed node, they keep trying until they get consensus. If they don't get it, they try 15 seconds later, then 30, then 60, then 120, then 240 etc.
    • They is actually based on probability - once a node goes down this starts firing and most of the time it happens on the first try, but it COULD go as high as 10 retrys in a very unlucky scenario which would be over 4 hours.
    • NEO is still centralized, and that's part of your tradeoff.
  • Binance adding Ripple to their Trust Wallet. Also, credit card support available. Brent
    • Their trust wallet is similar to other offerings by coinbase, ENJ, etc. It's in the app store.
    • They have plans for web, desktop, and hardware wallets.
    • There's a bunch of coins in this one - ETH, ETH Classic, Gochain, POA Network, Vechain, Tron, Wanchain, Callisto, ICON, Bitcoin, Litecoin, BitcoinCash, TomoChain, Dash, Zcash, Zcoin, XRP - Legit don't even know what half of those are.
    • The person that nails this first could be the paypal.
    • Metamask is continually improving their experience though.
    • Coinbase has something similar.
  • ETH Is not a security @Karim Baruque this looks like it's all you

    • Story starts with a comment back in June of 2018 from the SECs Director of Corporate Finance (William Hinman)
    • "Based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions."
    • Remember the Howey test?

      • Citrus farmers in FL 1946, went to the supreme court after SEC sued
      • SC developed landmark test. :A transaction is an investment contract if...
        1. It is an investment of money
        1. There is an expectation of profits from investment
        1. the investment of money is in a common enterprise
        1. Any profit comes from the efforts of a promoter or 3rd party
    • "When the efforts of the third party are no longer a key factor for determining the enterprise’s success, material information asymmetries recede. ... the ability to identify an issuer or promoter to make the requisite disclosures becomes difficult, and less meaningful."

    • A group wrote a letter to the SEC Chairman to see if this was just an opinion or represents position of the SEC
    • "I agree with Director Hinman's explanation of how a digital asset transaction may no longer represent an investment contract if, for example, purchasers would no longer reasonably expect a person or group to carry out the essential managerial or entrepreneurial efforts. Under those circumstances, the digital asset may not represent an investment contract under the Howey framework."
  • Adoption Segment. @Adam Levy
    • Implementation of crypto in the real world.
    • $0.40 off per gallon if you use btc. What other use cases are there?
    • Austria has advertisements in subways for Bitcoin (bitpanda)
    • there is a website called shitexpress.com where you can buy a pile of dung and send it to someone you don't like using bit coin.
    • yoga studios, restaurants, coffee shops, escape rooms—basically savvy business owners are starting to pop up with more options of payment—some crypto over credit cards
    • first time seeing payment in an SF coffee shop in 2014
    • can any business use Cash app for bitcoin?
  • Cool chart of crypto ownership in America @Adam Levy
    • 8% of Americans own crypto—think it was closer to 1-2% in early 2017
    • too difficult to understand and too complicated to understand is a solid portion of . I can sympathize as it is not intuitve at all but once you learn it, it becomes second nature. Think going from windows to ios
    • most are just "not interested"
    • some say it's too high risk which, fair enough
    • During the 2017 boom, there were roughly 40k new CB users a week signing up. I'd say 8% seems about right.
  • https://cointelegraph.com/news/us-state-of-colorado-passes-crypto-exemptions-bill-into-law
    • Colorado Digital Token Act. Colorado is "trying to provide clarity for the sector. That doesn't mean charlatans can violate security laws"
    • "digital token" as “a digital unit with specified characteristics, secured through a decentralized ledger or database, exchangeable for goods or services, and capable of being traded or transferred between persons without an intermediary or custodian of value

Crypto Around the World

  • Mailbag

    From the zman in CB Discord:

    with all the hype surrounding game of thrones return in april, the BBs were wondering:

    1. which GOT character do you believe you are most like? and
    2. which GOT character reminds you the most of your co-host(s)?
  • Rants

    Brent hates Enjin (not quite)

    Samsung Blockchain Wallet Less Shitty

    • ETH, TUSD, BAT, REP, REVAIN, Chainlink, Aeternity, Paxos, Maker, USDC, PundiX, BNB, CosmoCoin, Bytom, OMG, Pupulous, Vechain, ZRX (NO TETHER)
  • Patreon
  • Exit

    Please join the conversation in the Discord. We're in there all the time.

    Rate us on iTunes.

    Follow CryptoBasicBrent on Reddit.

    We are not Financial advisers.

Episode 165 - Coinbase is Scum? QuadrigaCX definitely is, and a special guest.

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There's a special guest on the show - Adam "Roothlus" Levy. He's going to help us navigate these murky waters of scams, bullshit stories, and more. Why is Coinbase losing good will? Why is Kraken gaining it? Why wasn't Brent hired at Kraken? Also - Brent got hacked on this edition.

Episode 165 - Flagship Friday

QuadrigaCX Granted 45 More days to repay funds

Bitgrail CEO must repay 170mil

XRP and XLM were approved by Thailand SEC

IOTA Released a Testnet without the COO - AND they went fully discord transparent.

ENJ Released their SDK for Unity - They're not on Samsung though.

  • You know we gotta do our weekly QuadrigaCX Update.
    • First of all last week Kraken offered a $100k reward for any information regarding the QCX situation that leads to the discovery of funds.
    • They also put out two full podcast episodes about it. (Their 3rd and 4th episode). They're combined almost 3 hours worth of information. I didn't listen.
    • It fuckin worked somehow. They found over 600k in ETH the next day. Roughly 90-100M depending on the ETH price at the time.
    • Some of it was on Kraken lol. Most of it was on Bitfinex.
    • Even though some was found, this doesn't necessarily mean that it was QCX or that it can be recovered.
    • There's somehow more.
    • Their cold wallets were found empty.
    • Guess who was never audited before now?
    • Guess who else still hasn't been audited?
    • Guess where most of that found ETH was?
  • New Bitcoin Betting Game Adds Thousands of Waitlisted Users
    • You can bet on MOON (up) or REKT (down) with a new card where you can place bets starting every five minutes.
    • The company is called HXRO (Hero) and they plan on releasing new betting games down the road.
    • Beta started Jan 1st and over 115k people on the waiting list
    • Guess this is a simplified version of Augur?
    • Seems popular thus far.
  • COINBASE IS SCUM!!!
    • So Coinbase acquired a team called Neutrino.
      • They had a team that all worked on a project called Hacking Team, which was a startup that specifically aided some shady governments in some authoritarian practices.
      • They helped surveillance of citizens by selling its project to - Sudan, Bahrain, Venezuela, Morocco, Saudi Arabia, and Kazakhstan
      • The UN actually got involved and told them they were selling weapons to Sudan, and they were worried about them being used to target Darfur belligerents. Hacking Team said they never had dealings with Sudan.
      • After the UN Got involved the Italian government froze any exports that the team could make.
      • Someone hacked them and their Twitter and release a 400GB data dump, which Wikileaks even retweeted. Dealings with Sudan confirmed, and there was even an invoice to Lebanon. How did "Hacking Team" get hacked? Well their password was P4ssword, and they also used wolverine and universo.
      • Standard response - don't download that leak it has a virus and it's also all not true (paraphrasing Christian Pozzi, team member). His Twitter was immediately hacked.
      • As of 2016 they were still allowed to sell spyware...just not outside of the EU. They had 70 clients as of 2015.
      • They won an award in 2013 - One of 5 Corporate Enemies of the Internet!
      • Coinbase original statement -It was “aware that Neutrino’s co-founders previously worked at Hacking Team, which we reviewed as part of our security, technical and hiring diligence,” adding that “Coinbase does not condone nor will it defend the actions of Hacking Team,” but “it was important for Coinbase to bring this function in-house to fully control and protect our customers’ data and Neutrino’s technology was the best we encountered in the space to achieve this goal.”
      • But they got their act together and fired them all, except the board.
    • They were also aware that whoever Neutrino was supposed to replace was selling user data.
      • The quote was plain as day ""We are aware of the backgrounds of some of the folks that were involved in Neutrino and we are looking into that,” said Christine Sandler, Coinbase’s head of sales."
      • Coinbase clarified that she totally misspoke.
      • They say they're totally not sharing personally identifiable data with 3rd party vendors. I wonder if there's a thin legal definition for that?
  • Thread on Worst Investment You Made
  • Bullish or Bullshit?

    • Thailand's SEC Approves Bitcoin, Bans Bitcoin Cash

      First of all the link was literally to a BCH/USD Technical Analysis blog post

      One little bullet point that says 'News flow - Thailand SEC removed BCH, LTC, & ETC from ICO Fundraising....that's it lol

      Found the actual statement from Thai SEC here

      They just update the list regularly, last paragraph really hypes it down

      TLDR didnt affect anything and the rest are definitely not legal tender lol. BS

Crypto Around the World

  • Argentina Blockchain Adoption](https://www.binance.com/en/blog/309988869718880256/Binance-Labs-BUIDLing-Argentinas-Crypto-Future)
    • Argentina is committed to matching the investment up to $50k USD for every Argentine blockchain project that receives funding from Binance Labs.
    • Argentina already allows you to top up train cards with Bitcoin.
  • Leaked Transactions Link Major Banks to $8.8 Billion Money Laundering Scheme

    • The Organized Crime and Corruption Reporting Project (OCCRP) non-profit
    • published a set of reports this week detailing a complex money laundering scheme “to channel billions of dollars out of Russia”
    • over 1.3 million leaked transactions from 238,000 companies,
    • OCCRP Executive Director Paul Radu elaborated

      Among the counterparties on these transactions were major Western banks such as Citigroup Inc., Raiffeisen, and Deutsche Bank. The dozens of companies in the system also generated $8.8 billion of internal transactions to obscure the origin of the cash.

    • Citigroup did not respond to a request for comment, Raiffeisen declined to comment, and Deutsche Bank refused to comment for legal reasons, claiming to have limited access to information on the transactions in question.

    • Troika Laundromat. “The Laundromat wasn’t just a money laundering system. It was also a hidden investment vehicle, a slush fund, a tax evasion scheme, and much more
    • Goes deep son - Death in Vienna the story of Erich Rebasso
    • OCCRP gives out a Corrupt Actor of the Year award. Notable winners

      • 2013 - Entire Romanian Parliament
      • 2014 - Putin

        "Putin has been a finalist every year so you might consider this a lifetime achievement award"

      • 2016 - Nicolas Maduro

      • 2017 - Rodrigo Duterte
      • 2018 Danske bank
        • "In the past 20 years, they’ve globalized organized crime and autocracy and helped everyone from Mexican drug cartels to Russian President Vladimir Putin to terrorists, autocrats, and almost every global threat,"
        • Runnerups - Putin, Hungarian President viktor Orban, Mohammed bin salman, & Donald Trump
  • SHOTS FIRED!

    Ripple CEO says JPM coin won't be used. LOL

    Kraken blasts Coinbase

  • Rants

    Getting Hacked

    Samsung Wallet sucks

  • Mailbag

  • Patreon
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102 Series - XRP (Ripple)

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It's time for a revisit of a classic villian. Ripple, XRP, Banks, it's known by many names and it was just released on Coinbase. It's had a hell of a year, and honestly has performed less bad than a lot of these coins. Has Brent changed his tune? Will his hatred go down further? Is this a sympathetic villian? How much did Karim call Brent Fat the last time this coin was in the spotlight? Find out now.

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Episode 163: EOS, Coinomi, and Japan Over/Under

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Episode 163

Date of Release: 3/1/19

  • What have we released?

    Substratum Delisting Round Table

    Interview #2 with Luke Mulks from Brave

  • Rapid Fire

    NASDAQ BTC and ETH indices went Live.

    Elon Musk says whoever owns the early BTC deserves a Nobel prize in delayed gratification. But he still only owns .25 BTC so don't get too excited.

    Cryptopia releases its final hack estimates at 9.4% of its total assets. Maybe there's hope?

    There was a sweet bull market as BTC rose above 4k. ANNNNND It's gone.

    BAT Announces partnership with TAP Network

  • Coinomi Wallet situation

    Coinomi Response

    • A reddit named Warith Al Maawali came forward with claims that his entire life savings was lost on Coinomi. He isn't the only reddit user, there's 3 others that all had the same thing happen.
    • Coinomi is a wallet for anyone not familiar. Their tagline is "Your Trusted Blockchain Interface"
    • He actually made a website that has all of his proof, screenshots, research, and findings.
    • The end result is that they were sharing your passphrase with a third party on Google's servers, for spell checking purposes. In plain text. Coinomi claims that it wasn't plain text, and that it was encapsulated inside a HTTPS request.
    • The user claims that this can only be exploited by whoever created the exploit or anyone else that uses the backend at Google. Coinomi only says Google.
    • They also say that it was only if you restored a desktop wallet. Also it totally wasn't a bug in their code (what?!) it was a plugin issue.
    • Based on the screenshot of their e-mail, they did in fact admit that this was a problem. They even told the user he was eligible for a bounty, but they haven't taken any responsibility (at this time) to give him his crypto yet.
    • This guy says he did everything right - he had it only running on a virtual machine behind a firewall with Anti-Malware and Anti-Virus protection. It was still compromised by a bug.
    • They even went as far as to say "Don't worry we've blacklisted the funds they'll never get to exchanges".
    • Guess what? The code wasn't open source.
    • Coinomi also suggests he saw the problem and stole his own funds, and say that he was holding them ransom by threatening to go public. They also mention Luke Childs, Jonathan Sterling going public with their findings as irresponsible. (again what?!) They call him a blackmailer. They also admit there's an issue.
    • Coinomi released the entire chat log of their support ticket. Warith was a dick, but they were asking him for a bunch of dumb shit and stalling too.
  • Over-Under? Money Laundering Cases in Japan Involving Crypto

    • December last year Report suggested Japan had over 6,000 money laundering cases involving cryptocurrency in first 9 months of the year (+1000 from regualtors). 7096
    • Between Apr-Dec 2017 only 669 cases so 10 fold increase
    • What % of Japans money laundering cases in 2018 do you think that 7096 represents?
    • SPOILER

      • DONT PEEK =)

        1.6%, 417,465 Cases

  • Bullish or Bullshit - Epic Games (Fortnite) CEO Shows Support for EOS on Twitter.

  • Well, since we're on the topic of EOS - Two Stories

    • Their Github commits have gone wayyyy down.
      • Longhash reports that less than 3% of their total commits have happened in the last 3 months.
      • 4000 commits in a year - but 114 in the last 3 months.
      • This isn't unique to EOS, it's just way worse there.
      • ETH is at a 20%ish ratio, and Tron is at around 15%.
      • One argument - they don't need to update as frequently because the blockchain has matured.
    • EOS has failed to build a Byzantine fault tolerant blacklist, so someone stole $7M
      • So basically, in order to blacklist bad actors there's a centralized authority called the ECAF. The ECAF wasn't democratically elected, they were just assigned at inception.
      • I assume that's the "power vested in me" people.
      • Basically the 21 block producers were getting annoyed at all the blacklisted addresses that were being submitted and decided it wasn't salable, so they were looking for an alternate solution.
      • Apparently, this was a vulnerable solution if even ONE of the 21BPs incorrectly setup their blacklist. Games.eos did set it up wrong. So one of the blacklisted accounts with around $7M US was able to spread that money around indiscriminately.
      • ONE
      • So much for that.
      • So what's their solution? They don't have one yet, but they're considering nulling out the keys on blacklisted accounts.
      • Apparently they've discarded the ECAF - and are getting a new one.
  • Well, since we're on the topic of EOS - "Another Story Ft. TRON & Sun"

    • Chinese Government body ranks TRON 2nd Best Cryptocurrency...behind EOS.

      • Story starts with a tweet from Sun braging about the rating from The Center for information and Industry Development (CCID)
      • Apparently some of this rating is because of TRONs large transactions per day & tps
      • Appropriate Vitalik Quote

        "When a blockchain project claims ‘We can do 3,500 TPS because we have a different algorithm,’ what we really mean is ‘We are a centralized pile of trash because we only have 7 nodes running the entire thing.’”

      • Upside should be getting lots of Dapps and apparently TRON going aggro on it spending $100 million on TronArcade and launched a "$2 billion initiative called Project Genesis" to grow its Dapp market.

  • One more before Mailbag.

  • Mailbag

    What are your top useful use cases and top useful projects as of February 2019? in the sense that they're providing value to the crypto space just by developing and/or don't look like they'll collapse in a strong breeze. thebiggerboat

Episode 162: Featuring Luke Mulks

Episode 162 BB WL.png

Today we have a discussion about the broken ad ecosystem with returning guest Luke Mulks, Director of Business Development at Brave. This time our audio is MUCH better and we discuss everything from the changing Ecosystem of Brave, to Uphold concerns. There’s definitely some hard core Brave shilling here, but overall we do get some great discussions about the advertising industry, and what Brave can do to break it. Luke definitely did not mention the TAP Network Announcement, but I’ve included it in the show notes.

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Episode 161: Round Table on Substratum and angering communities with Brian Li and William McKenzie

Episode 161 BB WL.png

Brian Li of Decrypto.Net and William McKenzie of getting attacked by Substratum fame are back on the show again since Substratum was recently delisted from Binance. We unpack their delisting, their assertions to each of the delisting points, and what it means to the crypto space. Brian and William are basically the boogeymen for the entire SUB community. They’ve been called everything from Chinese government shills to Russian spies. In the end, there is a massive intersection of the SUB community that blames these two individuals for their own shortcomings as a project. We discuss that as well in this episode.

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Episode 160: Quadriga (again), Samsung, and Vitalik

images.jpg

It’s Friday!

Flagship 60

This week the boys are at it again to talk about the usual updates on the Quadriga CX fiasco, it gets even weirder believe it or not. They talk about the Samsug blockchain project, get into what they’re going to be doing at the SXSW event, and even get their minds blown when they find out that Vitalik Buterin is rich. Find out what happens when someone accidentally sends 2100 ETH as a transaction fee, and just how much of the world is actually interested in crypto currency?

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Flagship Friday 59: More on Quadriga, the Nasdaq, and of course CSW

Ledger Nano S - The secure hardware wallet

It’s Flagship Friday and we’re talking about everything from Quadriga CX (again) to the curiosity Rover dying on Mars and why. We discuss the NASDAQ and more flirting with crypto, and we go on a long rant with Craig Wright and Wikipedia. Mike was absent from this one, but that’s OK we let Karim go off the handle, and he even says toward the end of the episode that he’s Triggered. Love it.

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Round Table: Scams

Scasm Pic.jpg
Ledger Nano S - The secure hardware wallet

Today CryptoBasic talks about something near and dear to their hearts – scams. This isn’t just crypto, but knowing what scams we’ve seen in the past and where they might be going in the future is very important in this unregulated market. Listen to Karim and Brent talk about the red flags you should be on the lookout for, and learn about this insane con man that had 10 commandments written about him. There’s plenty of crypto content, plenty of scams, and it’s all here on this episode.

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Flagship Friday: #58

QuadScam.png

Wow, there’s a massive theft in the crypto markets and Brent goes down the rabbit hole to cover it. QuadrigaCX, the biggest crypto exchange in Canada has taken everyone’s money and the owner might have faked his death. Also, the podcast has a new sponsor that they go over on the show.

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These links are all referral links for us, but we use every one of these exchanges and wallets. Of course you can always send to our ETH address if you're feeling spicy.

0x9487f1B80693e0cF68EAF8F997E9C34Eb73F3B3D

Ledger Nano S - The secure hardware wallet

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Bitcoin 102 - CryptoBasic revisits Bitcoin almost a year later.

Bitcoin 102.png

102 Series

Bitcoin

It’s the first CryptoBasic 102 episode! We’re going back over bitcoin, examining what we said about it over a year ago, how our opinions have changed, and what new things Bitcoin has provided the world since then. In the shownotes you’ll find all of the links that we’ve ever used to cover Bitcoin, as well as links to our previous shows on the topic.

Has the CryptoBasic team matured? What does Brent think about Bitcoin now? Find out today.

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PLEASE Subscribe and give us an honest rating on iTunes.

These links are all referral links for us, but we use every one of these exchanges and wallets. Of course you can always send to our ETH address if you're feeling spicy.

0x9487f1B80693e0cF68EAF8F997E9C34Eb73F3B3D

Ledger Nano S - The secure hardware wallet

Ledger Nano S - Get the goods here This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S.

Download one of the best browsing experiences out there: Brave. Also we get like $5.

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Sex on blockchain? Hackers, the Nasdaq, and Bakkt.

Sexy.jpg

Flagship

Friday

Brent decides he’s gonna talk about sex, and then follows it up with some juicy details about Bakkt. Are they related? I’m not sure find out on this Flagship Friday. What else is in this episode – NASDAQ and Crypto, Cryptopia is still getting hacked, NEM Foundation was dissolved, Hacking groups explained, and a Bitcoin backed Token on ETH

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PLEASE Subscribe and give us an honest rating on iTunes.

These links are all referral links for us, but we use every one of these exchanges and wallets. Of course you can always send to our ETH address if you're feeling spicy.

0x9487f1B80693e0cF68EAF8F997E9C34Eb73F3B3D

Ledger Nano S - The secure hardware wallet

Ledger Nano S - Get the goods here This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S.

Download one of the best browsing experiences out there: Brave. Also we get like $5.

CryptoBasicPodcast@gmail.com

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101 Series: Waves - Episode 154

1_1476iScvzl12xM5rCmWjzQ.jpg

101 Series

WAVES PLATFORM

Is Waves Platform a decentralized exchange done right? Mike and Brent dig deep into the project to see what it is, why it works, and see what they like about it. From harrowing tales of some idiot named DC in their Telegram, to support form the community and almost buying the coin – the team goes on a roller coaster ride of learning about this project.

In the end, will they consider it a reasonable project? Find out.

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HELP SUPPORT THE PODCAST!

PLEASE Subscribe and give us an honest rating on iTunes.

These links are all referral links for us, but we use every one of these exchanges and wallets. Of course you can always send to our ETH address if you're feeling spicy.

0x9487f1B80693e0cF68EAF8F997E9C34Eb73F3B3D

Ledger Nano S - The secure hardware wallet

Ledger Nano S - Get the goods here This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S.

Download one of the best browsing experiences out there: Brave. Also we get like $5.

CryptoBasicPodcast@gmail.com

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Episode 153: Flagship Friday

The team has a couple of throwback issues: IOTA’s hack has some closure in the way of an arrest. The team talks about a coin possibly pump and dump that the Apollo team may have just done, including inviting their CEO on the show. We go over some political thoughts, and then as always make sure to thank all of the Patreon members on the last Flagship of the week.

LINKS TO TOPICS FROM THE SHOW

HELP SUPPORT THE PODCAST!

PLEASE Subscribe and give us an honest rating on iTunes.

These links are all referral links for us, but we use every one of these exchanges and wallets. Of course you can always send to our ETH address if you're feeling spicy.

0x9487f1B80693e0cF68EAF8F997E9C34Eb73F3B3D

Ledger Nano S - The secure hardware wallet

Ledger Nano S - Get the goods here This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S.

Download one of the best browsing experiences out there: Brave. Also we get like $5.

CryptoBasicPodcast@gmail.com

405.440.3260

Theme Music - Neledrax by Earradiate (2017)

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The members of the CryptoBasic podcast are not financial advisors, and this information is provided for entertainment purposes. Please do your own research, and don't listen to these idiots.

The CryptoBasic Podcast is owned and operated by Cipher Consulting Group LLC.