CryptoBasic Podcast

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

Episode 201 - World's first crypto bank, Chinese government crypto, and Craig Wright gets owned in court?!

Episode 201.png

Any Flagship Friday is a happy Flagship Friday when we've got shit to talk about Craig Wright, scamlord extraordinaire, Satoshi Suck-a-moto, the douchebag to end all douchebags. And guess what: this is a happy Flagship Friday. :)

So, JOIN US on this episode to listen to us talk shit about Craig Wright and discuss his defeat in court, something that we've been longing for for quite some time. 

Also, the wonderful People's Republic of China is making a big step towards transparency and democracy with launching its own cryptocurrency! Maybe...! Does something smell fishy...? 

Anyway - all joking aside, on the side of good news we're talking official crypto banks in Switzerland, crypto bird feeders and more!

Dive into the cryptoverse with us on this week's Flagship Friday.

Ledger Nano S - The secure hardware wallet


Flagship Friday (8/30/19)

  • Craig Wright Loses Case again Ira Kleinman

    • A Reporter named Katie Ananina was in the courtroom for the case and was live Tweeting it on Monday.
    • Wright's lawyers continue to argue Wright can't provide proof YET (remember he was moving the goalposts - this time to Jan 21, 2020)
    • They just kept begging for more time in different ways.
    • Kleinman family lawyer gets to recap all CSW lies, including the phrash "Dr. Wright is dishonest. He is a Serial Forger"
    • He even kinda quotes Twain - "The problem with not telling the truth is to remember the lies you previously said"
    • Finally the judge says this "Dr. Wright did not impress me as someone telling the truth. All of his testimonies have been rejected on this matter". Why isn't that perjury?
    • 50% of all patents are given to Dave's estate. 50% of all the supposed BTC is ordered paid as well, which is about 480K BTC.

  • Alleged Capital One Hacker Accused of Secretly Mining Cryptocurrency
    • individual accused of perpetrating a massive-scale hack of credit card issuer Capital One
    • hacked cloud customers’ servers to mine cryptocurrency for herself.
    • Exploited the fact that some people misconfigured the webapp firewalls on the servers they rented
    • Online she posted that “if I had a partner I could have them take over my crypto-jacking enterprise and be a stay at home.”
    • Thompson allegedly gained access to 140,000 Social Security numbers, 1 million Canadian Social Insurance numbers and 80,000 bank account numbers, as well as data pertaining to customers’ credit scores, credit limits and balances.
  • World's First Licensed Crypto Bank Seen As Game-Changer

    • Reported from ZeroHedge the co-founders of Sygnum crypto bank have hailed the award of Swiss banking license as a game changer.
    • Could open the floodgates of integration of cryptocurrencies and other digital assets into established financial sector.
    • First time this type of license has been granted WORLDWIDE. Obviously Zug is a crypto hub so the fact that Switzerland is the first country in the world to do this is not a surprise.
    • The Swiss Financial Market Supervisory Authority was skeptical bc they wanted to safely and reliably integrate the worlds of crypto and mainstream finance.
    • Sygnum even created its own digital payment token backed by the Swiss franc.
    • Curious what you guys think about the implications of this
  • Telegram Pushes Ahead With Plans for ‘Gram’ Cryptocurrency

    • Telegram doing their own crypto like Libra
    • Called the Gram, and they told investors they are ready to send out first batches withing a few months
      • Leaked, investors had signed NDA lol, this is anonymous but NYT
    • 200m to 300m global users
    • They raise $1.7b in 2018 but unlike FB have mostly kept project secret
    • A spokesman for Telegram did not respond to multiple requests for comment.
    • "company was created by Pavel Durov, a self-described libertarian who fled Russia after clashing with the government and being forced to sell off his first successful social network, VKontakte.'
    • NYT say they saw a pitch for Gram that said it would be decentralized like BTC so it can skirt government regulations. That they will be governed by decentralized network once released (and telegram no control)
    • Telegram promised in legal documents that it would deliver Grams to investors by Oct. 31, 2019, or return the money!
      • Pre offering btw was 2.89b Gram for $1.7B

Crypto Around the World

  • Chinese Government Crypto? Yes! No. Maybe? Bullish or Bullshit?!?!
    • Forbes - Alibaba, Tencent, Five Others To Receive First Chinese Government Cryptocurrency
      • China's central bank will launch a state-backed cryptocurrency and issue it to seven institutions in the coming months
      • Source was Paul Schulte, independent researcher (head of financial strategy for China Construction Bank until 2012)
      • Industrial & Commercial bank of China, Bank of China, Agricultural Bank of China, alibaba, Tencent, and Union Pay
      • Forbes says it was confirmed by second anonymous source, said it may launch for their big shopping day (singles day, Nov 11)
      • “China is barreling forward on reforms and rolling out the cryptocurrency,” “It will be the first central bank to do so.”
    • Not Launching a Cryptocurrency in November: China’s Central Bank
      • The People’s Bank of China (PBoC) called the coverages “inaccurate speculation,”
      • Reuters attempted to reach all the seven institutions for confirmation. Alibaba declined to comment, while others did not respond.


  • SUB Shuts doesn Telegram Group - Co-Founder Deletes Twitter
  • Trevon James Facing SEC Charges
    • This was kinda amazing. The title to HIS OWN VIDEO it this - "Trevon James Facing SEC Charges for Bitconnect | Jail Time?!"
    • The first link in his shownotes is something called Trontopia.
    • Spends a decent amount of the video talking about how he shouldn't have even been able to promote it because he didn't create it so its not his fault he didn't make it.
    • He's not getting a lawyer
    • Top comment on his youtube "Trevon now works for the feds. For life. Watch yo back round here" lolol
    • He has 176 Patrons on Patreon. KIDDING ME??
    • He literally has a video that says "CAN I REPEAT THE SUCCESS OF BITCONNECT ON MY CHANNEL NOW" as his latest release. "I'm gonna try to recreate the huge euphoria of Bitconnect with a Decentralized Application" which then cuts to "Hey its not on me dawg" with throwing his hands up.
  • LA man pleads guilty to $25 mill BTC money laundering scheme
  • 25 year old LA man operating an unlicensed biz. $25 mil exchanged over 2 years. Kunal Kalra, known as Kumar, skeclemayne, and coinman.

Los Angeles man pleads guilty to $25 million Bitcoin money laundering scheme | Micky


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.