|Episode Title:||Bitcoin New Year's Eve Epic Squeeze - The Battle for 2020! Satoshi's Bitcoin & Libra Controversy!||Date:||12/31/19||Unedited YouTube Time Stamp||Trimmed||Clip Social Post Title / |
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|TEASE 👇||Episode Page:||https://crackingcryptocurrency.com/bitcoin-new-year's-eve-epic-squeeze---the-battle-for-2020!-satoshi's-bitcoin-&-libra-controversy!|
|JW||The squeeze is on ladies and gentlemen, and the battle for Bitcoin 2020 begins. New Year's Eve, 2019. Following a $100 short squeeze to the upside, the new trend seems to have been determined. If Craigh Wright is to be believed, tomorrow he'll be in control of 1.1 million Bitcoin. Meanwhile, did Libra just get kicked out of Switzerland? Man, I know crypto moves fast, but the facebook honeymoon is already over? All this and more in today's exciting epsiode of Breaking Bitcoin.|
A new year and a new decade begins tomorrow. Just months until the next halving event for Bitcoin, and what a wild ride of a year it has been ladies and gentlemen
|JW||Welcome to Breaking Bitcoin, recorded live Tuesday, December 31st, 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!
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|--Today's Comment Giveaway Winner:||Computer Tech Tutorials||0:12:29||0:07:22|
|Bitcoin Analysis and Trading:Intraday||0:13:20||0:08:13|
|Bitcoin Analysis and Trading: Weekly||0:32:05||0:26:58|
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|JW||You 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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|News 01||CSW's is set to recieve the keys to 1m BTC?||https://cryptopotato.com/tomorrow-craig-wright-is-supposed-to-receive-private-key-of-1-million-bitcoins-worth-8-billion/||Craig Wright, the self-proclaimed Satoshi Nakamoto, was ordered by a judge to surrender half of his near $8 billion in bitcoin fortune to the estate of his former business partner Dave Kleiman. |
However, in comments made to Bloomberg last week, Craig Wright says he is unable to comply with the order to forfeit the BTC, given that the cache of BTC in question is locked and Wright stated he currently does not possess the the private keys to withdraw it.
Today, an alleged copy of an email concerning the "Tulip Trust" is circulating, detailiing the transfer of 1.1M BTC from CSW to Kleinman for the purpose of forming a "Trust", presumably, the "Tulip Trust".
Of particular interest, is a date of January 1st, 2020, on which "All Bitcoin will be returned to Dr. Wright".
While many do not believe the Tulip Trust exists or that CSW will ever access the locked BTC, If if it is in fact true and CSW will recover the funds, it could mean he will have access to close to 1.1 million Bitcoins or about $8 billion dollars worth of the cryptocurrency as of today prices.
While half of it is intended to reach the Kleinman estate, there is still a concern in the BTC community that if this 1M BTC begins to get liquidated, it will crash the markets, and has been dubbed the "Satoshi Dump".
Although it should be noted, in the Bloomberg article, CSW is quoted as saying he will not be dumping the BTC,
“I do not intend to dump my family’s BTC as some people suspect or want, as this would hurt many people in the industry.”
In court, CSW argued the Jan 1st 2020 trigger event, will not grant him direct access to the Tulip Trust's funds. but rather control of an encrypted file, which is said to contain the Trust Participants private keys, which was encrypted “using a version of Shamir’s Secret Sharing algorithm.”
While Wright has claimed he is expecting to take delivery of some or all of the keys, via the unnamed “bonded courier,” dispatched by the Seychelles-based Tulip Trust, he has also stated "the process might take a while" and that there is "no guarantee that this important information will arrive" enabling access to the BTC.
The Judge in this case, it should be noted, found “clear and convincing evidence” that this file doesn’t actually exist, and that Wright’s testimony was “intentionally false,”.
Critics have pointed out there are no blockchain records showing that a trust with 1.1 million BTC was created in Bitcoin’s early days. Others, however, point out Wright has claimed to use Bitcoin’s nLockTime function, along with smart contract scripts, to create the trust.
So while some don't believe the Tulip Trust to even exist, others think the BTC is in fact locked in this scripted "time delay" contract, and this dormant BTC is waiting for a trigger event or certain block in the future, to be activated, moved and form the actual "Tulip Trust".
A convoluted tale, without a doubt, what does the audience think?
|News 02||The Swiss Honeymoon Over for Libra?||https://www.cnbc.com/2019/12/27/swiss-president-says-facebooks-cryptocurrency-project-libra-failed.html||As we have been reporting in our ongoing coverage of the Libra digital currency, the project was setting up in what was to be a regulatory-friendly nation of Switzerland.|
It would now seem Swiss regulators opinion on Libra has soured, claiming that the project is not as strong as it should be.
In comments made on Swiss TV, Ueli Maurer, Switzeerland's finance minster and outgoing president, says that Libra is something of a failure in its present state and doesn’t believe it can change the monetary system as it is. He also said that it needs a lot of “reworking” if it's ever going to get off the ground.
According to Maurer,
"I don’t think [Libra has a chance in its current form] because central banks will not accept the basket of currencies underpinning it. The project, in this form, has thus failed."
This is in reference to Libra’s status as a "stable coin", with it's current fiat-backed design intended to peg to a basket of international currencies including the euro and the Singapore dollar, it is said to be too challenging for regulators to consider governining.
The Libra digital currency, which was planned to be issued and governed by the Geneva-based Libra Association, has seen concerns raised by regulators and politicians alike, citing matter of privacy to its potential to influence monetary policy and unpredictably change the global financial landscape
Over the past six months, scrutiny over Libra has only mounted, going as far as seeing Zuckerberg get grilled by congress over facebooks role in the project. While Zuckerberg insisted "I don't control Libra", and even going as far as withdrawing Facebook from the Libra Association, this has done little to smooth over the objections by the ruling class to tech companies entering the financial space.
|News 03||Chinese firm files for crypto ETF proposal||https://bitcoinnews.com/china-paving-way-for-first-blockchain-etf/||China appears to be speeding ahead in blockchain adoption, with the Shenzhen Stock Exchange releasing its Blockchain 50 Index, which aims to track the top 50 firms by market cap in the blockchain industry.|
The Shenzhen Stock Exchange is the 8th largest exchange in the world, and the 4th largest on the Asian continent. Therefore, it's no small achievement that a blockchain index is coming online, which includes some of the leading chinese upstarts in thee blockchain space, such as Wholeasy, Ping An Bank and Zixin Pharmaceutical.
Curiously, on the same day of the Blockchain 50 index announcement, a Chinese finance firm filed an application for blockchain-backed exchange-traded fund (ETF).
Penghua Fund is a Shenzhen-based funds management firm filed an application, dubbed Penghua Shenzhen Stocks Blockchain ETF, which was submitted to the China Securities Regulatory Commission (CSRC), the main regulator of the securities industry of the country.
According to the Shanghai Securities Journal (SSJ), the approval of this ETF would mark it as the first company to launch a Blockchain ETF in the country, which will help in tracking the operations of publicly listed stocks from blockchain-based companies.
The SSJ also stated that if the proposal gets approved, it will pave way for other firms to file their own proposals for blockchain-based ETFs.
“The industry believes that with the landing of such fund products in the future, it will provide investors with a new way to share the development dividend of the blockchain industry.”
Although China continues to stick to its anti-crypto stance, President Xi’s endorsement of blockchain has led many Chinese firms to become part of the blockchain space. Over 500 blockchain projects have already been registered by the Cyber Administration of China.
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|JW||Anything from yesterday you'd like to talk on today|