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S-S: 5pm CDT		Episode Title: Trump To Destroy the American Dollar? Will Bitcoin Surge As A Result?Episode number: XXXDate: 7/06/19Live Unedited Show Time StampPost Live Show Time Stamps
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JWTEASE: As Bitcoin struggles to maintain 11,000, the trade war between China and America might be about to heat up. Is your purchasing power valued in the Dollar right now? Then you do not want to miss this episode. We'll break it all down, in today's episode of Breaking Bitcoin.0:03:2310-15m
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Intro Rolls
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JWWelcome to Breaking Bitcoin, recorded live Saturday, July 6th 2019. Your daily source for market updates, sentiment, and news for traders.
I am your host Justin Wise, Lead Analyst & Senior Mentor at CrackingCryptocurrency.com - Hope you're all doing well!
Shout out to everyone watching from across Youtube - Twitch - DLive - Facebook Live - and of course on Roku at the Investor News Channel.
If you want to support the show make sure to like, subscribe, follow, share and engage in the live chat.		kool
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JWThis episode of Breaking Bitcoin is brought to you by… US!

Are you an aspiring trader, or an experienced trader looking to improve? The Cracking Cryptocurrency Premium Trading Group can help you maximize your potential. Our education focuses on Risk Management, Technical Strategy, Capital Preservation and Growth, Statistical Analysis, Automation, and Lifestyle Coaching. We provide Reliable Signals and Setups for beginners and seasoned traders, in addition to supplying our team members with Proprietary Indicators, Spreadsheets, Audio and Video Coursework and Training, and powerful tools. In addition to providing exceptional technical and customer support. Our community is a powerful resource for support, encouragement, and growth whatever your trading style may be.
To get started today, and push your skills to the next level visit premium.crackingcryptocurrency.com That's premium dot cracking crypto currency dot com.

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BTC/ETH/Market Cap
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12:15HighlightsLinksVIDEO20-30m
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JW
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--Tip random commenter from yesterday’s show.Aaron Webb0:07:580:04:35
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BTC/USD Analysis0:10:090:06:46
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ETH/USD Analysis0:24:020:20:39
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Back from brief break!0:34:420:31:19
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Longs vs. Shorts
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BTC Dominance
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USDT Dominance
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As traders, selecting our exchange is one of the most important decisions we will make. I'm often asked as a profesisonal, what are the most important metrics when making this decision. My answer is always the same. The three major boxes that any exchange that I am considering must check are
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The exchange that checks all of these boxes, that I use for trading Bitcoin Futures, is Bybit.
They are based out of Singapore, a country with some of the strictest financial regulation. Their platform is intuitive and simple to use, yet also has advanced order features for seasoned traders. Finally, their Customer Service live chat is in the corner of their main page, and on-demand support is a click away.
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Again, that's bybit.crackingcryptocurrency.com		https://ByBit.CrackingCryptocurrency.com
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Traditional Markets / Forex
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12:45Tickers/NotesLinksVIDEO
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JWYou can watch or listen to this discussion and more on Breaking Bitcoin, episode number ### at CrackingCryptocurrency.com. And remember to subscribe to our podcasts. Thanks for listening. We'll see you next time.
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S&P, E-Minis23:56:37
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Metals - Commodities - Oil
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Forex0:41:500:38:27
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Crypto market crypto bubbles sentiments0:49:550:46:32
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1:00 PMWhen We Return: Topics & Requests
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1:00 PMLinksBack from break!0:58:070:54:44
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1:05 AMNews (3 top stories)LinksBack To The Show20-30m
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JWBITCOIN IS NIGHTMARE FOR BANKS LAUNDERING $2 TRILLION EVERY YEAR

https://bitcoinist.com/bitcoin-force-against-banks-laundering-2-trillion-per-year/-One of the reasons we love Bitcoin so much is its ability to bypass the traditional banking system, and outperform it in many ways.
-For all of the doom saying about Bitcoin only being used by criminals and terrorists, the numbers don't lie. The currency utilized overwhelmingly for criminal activities and money laundering is the dollar.
-Every year, at least $2 trillion is laundred by banks world-wide. This is over ten times the total market capitlization of Bitcoin itself.
-Why do banks fear Bitcoin so much? Because it is a public ledger, which would reveal any such wrong doing immediately. This is why Bitcoin is a terrible option for commiting crimes and money laundering. You can't hide it from the world.
-A public ledger would make true Banks biggets fear, accountability.

-Now, in the latest from President Trump, he has called, potentially jokingly, most likely not, to ramp up the manipuation of the dollar by injecting vast sums of new currency intio the money supply.
-His view is that China and Europe are doing the exact same thing to compete with America, so as a result we should double down and ramp up our money production as well.
-For anyone with modicum of econimc sense, we know how terrible this idea is. It would severely inflate the dollar, devaluing our currency.
- Trump said on Twitter
“China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA. We should MATCH, or continue being the dummies who sit back and politely watch as other countries continue to play their games – as they have for many years!”
-We previously reported on China already doing this, and how it is causing capital flight from China. IE: Chinese holders of the Yuan are moving their funds into other assets to hedge against the devaluation of their own currency.
- Alex Krüger noted that these actions would also increase interest rates and cause stock markets to soar.
Alex Krüger
@krugermacro
"Trump just made an explicit call to manipulate the dollar. He wants lower interest rates, a cheap dollar, and soaring stock markets."
-This is exactly what would happen to American investors. They would hedge their dollar holdings in other assets.
-Some would argue, this is one contributing factor to Bitcoin's meteoric rise. There's not many other assets out there that are easily obtainable for chinese investors, and investors world-wide that is as liquid and accessible as Cryptocurrency is.
-Now, in the short term what does this mean? A strong equity market, and a strong Cryptocurrency market. Money will seek to flow out of dollar holdings and into a stable store of value else where.
Fundstrat’s Tom Lee also noted the need for Trump to crank stock markets higher, which would also be support for equities.
Thomas Lee (@fundstrat) said on twitter
"It is important to keep in mind the White House wants a rising stock market."
-Now, in teh long run this is not good for Americans, especially lower-income Americans who don't have ready access to securities, equities, or investments.
-For a large porportion of the population, they have no savings, investments, or diversification. They simply live off of their national fiat currency.
-So this won't hurt larger investors or those who are diversified nearly as hard as it will those who are fully dependent on the dollar.
-Personally, although this is good for my investments, this is a betray of the American people.
-We should be intelligent enough to play the long game, as we know what currency manipulation does over the long run, it devalues your own nation and leaves you weak to foreign invasion. Go read a history of the Roman Empire for a graphic historical example.
-The fact that we would do such a short-sigted idiotic move is regrettable.
-Now, I'm not someone who leans to the left looking for easy pot shots against the right, or our president. When he does something good, I praise him, something bad I criticize him.
-This is bad Trump. And I'll call him on it.
-Now, we've seen the equity markets, gold, and Bitcoin be extremely bullish in response to all of this, and should our executives decisions remain teh same I expect more of the same. But just be aware of where a large impetus of this is coming from.
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Facebook’s Head of Blockchain to Testify Before US Congress as Social Media Giant Plots Strategy to Sway Crypto Critics

https://dailyhodl.com/2019/07/05/facebooks-head-of-blockchain-to-testify-before-us-congress-as-social-media-giant-plots-strategy-to-sway-crypto-critics/- David Marcus, who steers Facebook’s blockchain and crypto projects as the head of the company’s Calibra subsidiary, says the company’s goal is to eventually shift its upcoming Libra coin into a decentralized, permissionless state – that is, provided the company can successfully navigate regulatory hurdles.

- Marcus says he plans to testify to Congress in the weeks ahead and notes that while Libra isn’t as open as Bitcoin, decentralization is a big part of their project.
“What this means is that no one needs to become a member to access the blockchain, and to build services like wallets, or merchant acceptance.
On decentralization — we totally get the point — fungibility of nodes to ensure they can always be replaced over time is a fundamental principle of blockchains, and that’s why we’re committed to gradually transitioning to a permissionless state in the years to come. But it was important to start with trusted entities that could operate in a regulated environment and with the operational expertise required to ensure the integrity of the network in its foundational stage.”

- But integrity is a foundational tenet that Facebook is struggling to earn. In a recent open letter to Marcus, chief executive officer Mark Zuckerberg and chief operating officer Sheryl Sandberg, US House representatives implore the company to halt developments on Libra, pointing out that the tech giant expects to pay fines up to $5 billion to the Federal Trade Commission (FTC), and remains under a consent order from the FTC for deceiving consumers and failing to keep consumer data private.

- The Calibra head says the company’s plans to have over 100 members in the Libra Association by launch should alleviate the worries of Facebook skeptics who don’t think it can be trusted with such a project.

Says Marcus,
“Facebook will only be one among over a hundred members of the Libra Association by launch. We will not have any special rights or privileges. Facebook created a subsidiary — Calibra — that will operate a wallet service on top of the Libra Network, and while Facebook, Inc. owns and controls Calibra, it won’t see financial data from Calibra.”

- Marcus also notes they won’t have a monopoly on wallet services for Libra.
“Even more importantly, people will have many ways in which to use Libra and access the network. You’ll be able to use a range of custodial and non-custodial wallets that will have full interoperability with one another, meaning you’ll be able to pay and receive payments across wallets from different companies, or use a software wallet you’d operate on your own. Bottom line: You won’t have to trust Facebook to get the benefit of Libra. And Facebook won’t have any special responsibility over the Libra Network.”

- Additionally, Marcus addresses Libra’s plan for dealing with lawmakers and regulators who have expressed numerous concerns about the project.
Says Marcus,
“We’re talking about something new, at scale in a very regulated industry, and if this is not done right, it could definitely present systemic risks no one wants. This is why we believe in and are committed to a collaborative process with regulators, central banks, and lawmakers to ensure that Libra helps with the kinds of issues that the existing financial system has been fighting, notably around money laundering, terrorism financing, and more.”

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Trading ALT/BTC vs ALT/USD
https://steemit.com/cryptocurrency/@dobe4ever/i-trade-altcoins-vs-btc-only-not-vs-usd-here-is-why
-I've gone over this issue before, but I wanted to dive in and tackle this with more nuance.
-This is a steemit article by Dobe, a female trader who I have quite a bit of respect for.
-In this article, she claims that it's always more profitable to trade ALT/BTC pairs than ALT/USD pairs.
-She uses Ethereum as an example, and says that if ETH is going up against USD, but going down against BTC, that means taht BTC/USD is doing even better than ETH/USD.
-So, if BTC/USD is doing better then why have your money in ETH/USD?
-If ETH is goign up against USD and BTC is going down against USD, this meanst hat ETH/BTC is doing even better than ETH/USD. So again, hwy trade ETH/USD if the profits are bigger in ETH/BTC?
-Now, this makes sense on the surface, but it's conflating percentages with actual profit.
-So, even though this isn't 100% correct, it could be said that overall it is true that the percentage gains will be greater when trading ALT/BTC pairs when BTC/USD is dropping, compared to ALT/USD pairs when BTC/USD is rising.
-The problem here is pointed out well by gwho, who replies saying that if BTC/USD is dropping, and you've made a bunch of BTC trading an ALT against BTC, you haven't made that much actual profit in USD, because the base pair that you now have more of, BTC, has lost dollar value. So you have more BTC, but at the current point in time it's less valuable.
-Now the common agument here will be "well, when BTC is more valuable then we will sell it and make the differnece in profit."
-The problme is this leads to very convulted PnL calculations, that not many serious traders are going to do, it also exposes you to an excess of downside risk when trading ALT/BTC pairs because if BTC starts dropping very quickly, you are quickly losing much more money than you had intended. ALT/BTC pair trades are generally best done when BTC is stable or bullish, not when it is bearish, because you are not actually making that much USD.
-Now, that's not to say you won't make any, and all of the actual details of an individaul trade's PnL will be revelaed by your Trading Journal.
-In teh end, you need to compare your statistical results and figure out for yourself wihether your trading strategy actually gives you a USD edge when trading ALT/BTC pairs.
-However, again, with respect to Dobe, her statement here is incorrect and assumes several things. 1) That the percentage differences will be greater when trading ALT/BTC pairs as opposed to trading ALT/USD pairs. 2) That the BTC value is what matters most, not USD value. This depends on what kind of trader you are, for example I value my wealth in USD not BTC. And it does not make sense to value your wealth in any volatile asset, regardless of how you feel about it, until BTC is actually the global standard currency or store of value. It's not, so I value my wealth in what I pay my bills in, as does any logical person. You wouldn't value your wealth in AAPL stock no matter how bullish you were on the company, even if you believed AAPL would change the world.
-Also, this idea she posted was from a couple of years ago, when there weren't that many markets to trade ALTS against fiat. Now that there are, I think this argument has largely fallen by the wayside.
-A more succint take away, is that the goal of trading is to maximize your purchasing power, or grow your purchasing power. Your purchasing power is going to be measured in the currency that is universally accepted and most stable. 		1:12:101:08:47
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For a professional trader, it is absolutely essential that I have full control over all of my positions. Platforms like Binance, Coinbase Pro, and Bittrex, although amazing in their own right, do lack essential features for any serious trader. Whether it's setting a take profit and stop loss simaltenously, trailing a stop loss, or automating Trading View alerts, to maximize our returns in the market and simplify our trading we need better tools.
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Ready Chart Requests
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1:25 AMChartsLinks
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JWAnything from yesterday you'd like to talk on today
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Jai English
​Hey just thanks for another great episode, just wondering if you have ever used the CCI while trading? If so what are the pros and cons
1:22:021:18:39
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Joao Pinheiro
​check NULSUSDT please

John Famiglietti
​nulsbtc		1:32:041:28:41
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Don_Kandon
​zerp/usd on bitstamp		1:40:151:36:52
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CrypTopic
​xmrusdt please		1:41:401:38:17
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Tomcryptonewbie
​ADA/BTC brother..any hope		1:42:091:38:46
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Ken D
​SLV:USD		1:43:431:40:20
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Ready End Music1:46:201:42:57
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2:00SignoffLinks
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-Thanks for joining us for another episode of Breaking Bitcoin Market Update!
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