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https://www.trader.university/courses/38824-the-ultimate-guide-to-bitcoin
Use the discount code YT99 to get the best price.
In this video, I discuss the ongoing dumpster fire at Ethereum, including OFAC censorship by Coinbase, the CFTC backing away from ETH as a commodity, as well as the ETH staking withdrawal fiasco.
Commodity:
1) not issued by a government or corporation
2) cannot be changed by a small group of people
Think crude oil, gold, etc.
No one can deactivate the gold in your home safe.
Vitalik and the Ethereum Foundation can certainly deactivate your ETH. That’s what they did with a chain rollback after the DAO hack in 2016
A commodity is not something issued by a software company like Ethereum or Cardano that is pretending not to be a software company. That’s a security.
Just because you did your ICO in Japan or Switzerland does not absolve you from registering as a security with the SEC, especially if your token is going to be trading on US exchanges like Coinbase.
Ethereum is a software company. Vitalik is the CEO. ETH is an equity token that was issued to fund software development in order to make money for investors. Therefore ETH passes the Howey Test and is a security.
The project is controlled by a few key people at ConsenSys and the Ethereum Foundation like Vitalik and Joe Lubin.
The CFTC is finally waking up to these facts and backing away from ETH. This is very bad news for Ethereum, as it means that it will almost certainly end up being regulated by the SEC and having to file lots of disclosures that will cause investors to jump ship.
Not investment advice! Consult a financial advisor.
CFTC:
https://en.wikipedia.org/wiki/Commodity_Futures_Trading_Commission
CFTC used to think that ETH was a commodity:
Then FTX collapsed:
https://www.washingtonpost.com/business/2022/11/28/sam-bankman-fried-ftx-cftc/
Now the CFTC does not think that ETH is a commodity:
https://cointelegraph.com/news/cftc-chief-says-bitcoin-is-the-only-commodity-in-the-wake-of-ftx-collapse
Coinbase S-1:
https://www.sec.gov/Archives/edgar/data/1679788/000162828021003168/coinbaseglobalincs-1.htm
Ethereum price plunges after hoax claims founder Vitalik Buterin had died:
https://siliconangle.com/2017/06/29/ethereum-price-plunges-hoax-claims-founder-vitalik-buterin-died/
My prediction that Coinbase would censor Ethereum blocks:
Watch Coinbase censor Ethereum:
https://www.mevwatch.info/
Brian Armstrong lied:
Question for @LidoFinance, @coinbase, @krakenfx, @stakedus, @BitcoinSuisseAG
If regulators ask you to censor at the #ethereum protocol level with your validators will you:
A) Comply and censor at protocol level
B) Shut down the staking service and preserve network integrity https://t.co/UYVR2L6tB1— Lefteris Karapetsas | Hiring for @rotkiapp (@LefterisJP) August 14, 2022
Vitalik lied:
Vitalik Buterin Is Ready to Burn Validators’ Stakes via Social Consensus If They Tolerate Censorship
Ethereum staking good for Coinbase’s revenues:
https://decrypt.co/107662/ethereum-merge-coinbase-staking-jpmorgan
ETH insiders trying to decide when to unfreeze your funds lol:
https://decrypt.co/116763/ethereum-devs-staked-eth-withdrawals-shanghai-march-2023
13% of all ETH is being staked:
https://www.stakingrewards.com/
Crypto parasites:
https://twitter.com/fold_app/status/1600699634791358464/photo/1
https://twitter.com/level39/status/1558653961846022144/photo/1
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#ethereum
#bitcoin
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Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the βOperator Partiesβ) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, βthe Siteβ) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.
25 Comments
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Great video as always, Matt. My question is how will this trickle down to applications running on the ETH network, as much of DeFi is clearly reliant on the platform. Will be interesting to see how things unfold
Ahhh yes, wonderful seeing new videos pop up daily, thank you ππΌ
ΒΏPor quΓ© los maxis de Bitcoin no entendΓ©is que necesitΓ‘is a ETH mΓ‘s de lo que Γ©l os necesita a vosotros?
DeberΓais buscar amigos, que no sois tan poderosos como os pensΓ‘is.
Heres the simple litmus test: commodities dont have issuers. FULL STOP. Bitcoin does not have issuers every other crypto project does making them all unregistered securities. There ya go, I just regulated the market. If you want to operate legally, get compliant, the regulations are already in place according to Gensler, this is it. Get compliant, thats the regulation people fear. If you think theres going to be a back and forth bc βwah wah crypto is different and needs different regulationβ thats not happening. This regulation everyone is waiting for is here, get compliant. Those who dont or cant will face extinction. Its that simple.
Great video as always Matthew
What I find to be funny is that STILLβafter all thisβ-there are still shitcoiners, hard core smooth brained losersβpumping ETH. I still here complete morons on TV/YouTube βbusiness showsβ speak of the need for βdiversificationβ and speak of ETH and BTC in the same breath. Iβve met Cathy Woods. And even she speaks of ETH as though it is βsomethingβ of value.
Iβm starting to think that this βcryptoβ scandal will continue. The public is so polluted with these centralized scams, it could take years to recover. I think all the other βcoinsβ will have to die before BTC rises to glory.
I have no positive expectations for BTC in 2022-2023. We could be years away from any good news.
It doesn't matter how much you cry that there are better options. BTC energy consumption is and remains the root of a slow and painful death for all bitcoin Maxis.
Cover USDT. Ether is the least of our problems right now.
Who else owns more than .133 π top 10% gang
The daily dose of truths. ππ½ππ½
parasites? thats brutal!
You are deluded. Your videos recently parrot the same nonsense. Nobody cares about bitcoin anymore and you've completely missed the crypto opportunity being built. You and a small number of bitcoin maxi's are doing such a great job at excluding yourselves that there will be no sympathy when bitcoin dies. I cant wait to see your reaction when Eth flips btc by the way. (I dont own any eth btw)
I started out as an eth miner in 2020 and have gradually dumped it all for btc. Thanks for all the information throught the years! Wouldt have gotten the chance to understand all this without you Matthew!
Why would I want to withdraw? Iβm a hodler for the long run.
I love it whenever you talk about Ethereum. Today, a reddit user shit on Bitcoin sub on r/cryptocurrency and called BTC maximalists a cult. That sub is full ETH moon boys. They need these type of videos you put out to awaken to the truth
For anyone who cares to look at hard data, Bitcoin dominance on 17th November 2013 was at 96%. Forward wind 9 years later and it stands at just 37%. Its not ever going to reverse that trend so imagine what it will be in another 9 years. If you choose to exclude yourselves it will only get even worse because Blockchain innovation and defi opportunities may well be the only thing which saves you from complete extinction.
Can you make a video about how BTC can approach smart contracts again. Know BTC was the first.
I own more BTC but I do have ETH also and yes if it is deemed a security it will affect price but I don't think it will kill it, there is too much $ involve too much brain power and investments, Defi, NFT trading has most of the developers, I believe in Ethereum in the long run but I do allocate more into BTC.
Matt you somehow have almost zero scambot comments at least as far as I see in your vids. It must be the real engagement from a thoroughly engaged audience. Kudos Matt for the deepest BTC content on YT!
great job as usual , thank you
Just watched a Singapore bank ad to help Matthew earn dollars so he can buy Bitcoin.
"Business knows no pity and cares for justice only when justice is seen to be better policy. If it had the power to control the elements, it would grasp in its iron clutches the waters, sunshine, and air and resell them by measure, and at exorbitant prices to the millions of famished men, women, and children."
Arenβt BTC Level 2 and level 3 centralized?