Crypto Basic Podcast: Teaching You The Basics of Bitcoin and the World of Cryptocurrency. CryptoBasic

# 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.

- Rapid Fire

[Fidelity has so many people at the firm on board with crypto. The MOST RELEVANT real money firm is turning into a crypto culture. How great is it that the work culture is beaming with crypto enthusiasts. It’s a part of the pipeline that needs to be laid for mainstream mass adoption](https://twitter.com/aridavidpaul/status/1110824390646743041?s=21)

[Ari Paul ⛓️ on Twitter](https://twitter.com/aridavidpaul/status/1110824390646743041?s=21)

[Initial Exchange Offering -](https://www.reddit.com/r/ethtrader/comments/b6b2ev/initial_exchange_offering_a_new_alternative_to_ico/?st=JTSBN1LZ&sh=fd4021d2)

[r/ethtrader - Initial Exchange Offering: A New Alternative to ICO?](https://www.reddit.com/r/ethtrader/comments/b6b2ev/initial_exchange_offering_a_new_alternative_to_ico/?st=JTSBN1LZ&sh=fd4021d2)

[Tether had 100% of the Stablecoin market this time last year. Now it's 75%](https://twitter.com/ceterispar1bus/status/1109782306372255744?s=20)

[r/ethereum - The Samsung Galaxy S10 has shipped but only users in Germany, Korea and the U.S. are able to use its crypto features for now. Not a bad start!](https://www.reddit.com/r/ethereum/comments/b6660y/the_samsung_galaxy_s10_has_shipped_but_only_users/)

- [Formula One is getting into blockchain](https://www.trustnodes.com/2019/03/27/formula-one-enters-partnership-to-launch-ethereum-based-blockchain-game). - Adam
- They will have nfts in the game. Makes me think you’ll be able to collect cars old and new
- What are some of the best games you’ve seen in the blockchain space so far?
- Formula One, or their parent company Liberty Media, has not yet responded to confirm the partnership, with it unclear at this stage whether they’ve just bought the branding rights or whether there is closer collaboration.
- This is actually a big deal for blockchain gaming

[Formula One Enters Partnership to Launch Ethereum Based Blockchain Game](https://www.trustnodes.com/2019/03/27/formula-one-enters-partnership-to-launch-ethereum-based-blockchain-game)

- [Metamask has been in the news](https://twitter.com/metamask_io/status/1110989506134446081?s=19) - Brent
- Metamask has a setting that makes it non-private. It basically does this to communicate with DApps, but in doing so it basically broadcasts your public ETH address to every website that you access.
- They've always had a private mode, but it would make it a little clunkier to operate with the sites that it integrates with (imagine like using radar relay, they already know you have metamask when you go there).
- Well the community started to have an outcry about this and doesn't want their address broadcast like this by default.
- What would other coins do?
- What metamask did.
- [Weiss ratings](https://weisscrypto.com/en/cryptos/screener/shared/coins-by-market-cap) are out! Lets play ESPNnnn - Karim
- 3 Categories
- Overall rating
- B- Bitcoin, Ripple, EOS, Binance
- C+ ETH, LTC, Stellar, Cardano, Tron, NEO
- C Monero
- Technology/Adoption Rating
- A Btc, Ripple, EOS
- A- Eth
- B+ Stellar, Litecoin, Cardano, Neo, Zcash, Bitshares, Steem
- Investment Risk/Reward Rating
- B Binance
- C- Litecoin, Holo
- No one got an Overall A,
- [Imagine having to convince your grandmother to start using cryptocurrency.](https://www.reuters.com/article/us-crypto-currencies-compliance-idUSKCN1R90FR) - Adam

[Compliance officers wary of switch to 'Wild West' crypto sector](https://www.reuters.com/article/us-crypto-currencies-compliance-idUSKCN1R90FR)

- Thats loosely what these head hunters are going through.
- The crypto world is burgeoning and these companies are looking to recruit employees from comfy positions while making them understand the importance of cryptocurrency as an innovation. Could unexpectedly be very tough
- [Saw some bullish news about crypto.com and decided to see what their MCO card is all about](https://help.crypto.com/mco-visa-card/mco-visa-card-limits-and-fees) - Brent
- Shady af.
- So they have a bunch of card tiers and a bunch of cool cash back stuff.
- I had to give them a picture of my ID before I could even find their fees. Literally the FAQ says you have to look in the app for fees
- On their website everything looks so good - free spotify, 1% cash back bla bla bla.
- The fees are 3.5% per purchase, and that's without the exchange fee / rate.
- [Nearly all bitcoin trades are fake???](https://www.technologyreview.com/the-download/613201/nearly-all-bitcoin-trades-are-fake-apparently/?utm_medium=tr_social&utm_source=facebook&utm_campaign=site_visitor.unpaid.engagement) - Adam (With a little side of Brent)
- Somewhat of a clickbait title but apparently a lot of exchanges participate in something called “wash trading” where most of the volume on the exchanges are fake. Trading back and forth between the same exchange

[Nearly all Bitcoin trades are fake, apparently](https://www.technologyreview.com/the-download/613201/nearly-all-bitcoin-trades-are-fake-apparently/?utm_medium=tr_social&utm_source=facebook&utm_campaign=site_visitor.unpaid.engagement)

- Shots Fired!

[Half of Justin Sun's followers are revealed as Fake](https://www.trustnodes.com/2019/03/24/close-to-half-of-justin-suns-new-followers-revealed-as-fake)

- Well..his new followers. Basically a standard account should have around 1% of its followers be new users each month. Justin's are 50%.

[Jack on BCH - "Hell no!"](https://twitter.com/jack/status/1092970006462160896)

- Patreon
- Master Node

Andrew Giles

Marcel "Bitcoin Mexico" Bosio

Robert Laverty

Simon Gordon

thebiggerboat

- Secure Node

Ameya "Degenerate Brahmin" Vaidya

DisDangus InYaMouth

Jeff

Steven "Steve Staples" Stapelton

the zman

- Node

Boris "Early Adopter310" Boychev

Crypto Tytan

Fanc1dan

Laze

Peter Stewart

SamMcCallum

Simon Stokes

Tyler "The Big Cohoonah" Cohoon

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. 

Bitcoin-Takeover.com

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# Episode 167 - Flagship Friday

- Rapid Fire

[Co-Founder of Wikipedia says that you should use Brave.](https://larrysanger.org/2019/01/how-im-locking-down-my-cyber-life/)

[Coinbase Pro ends 0% maker fees.](https://blog.coinbase.com/coinbase-pro-market-structure-update-fbd9d49f43d7)

[Presidential Candidate Andrew Yang was tweeting about bitcooin corrections in 2013!](https://bitcoinist.com/andrew-yang-2020-president-bitcoin/)

- [Tether is not fully backed by fiat](https://breakermag.com/tether-now-admits-its-not-fully-backed-by-dollars/) (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 USD₮ 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](https://www.newsbtc.com/2019/03/19/binance-crypto-cryptocurrency/) - 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](https://www.ibm.com/blockchain/solutions/world-wire) - 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'](https://www.computerworld.com/article/3373506/facebooks-blockchain-cryptocurrency-could-mean-big-money-and-kill-fake-news.html)? 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
- For funzies - [TipRanks has his 'succes rate' at 61% (145/239)](https://www.tipranks.com/analysts/ross-sandler)
- Avg return listening to him since 2009 - 7.7% (Ranked 511/5249)
- S&P in that time? Any guesses?


- For funzies =)


- 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/](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!](https://www.longhash.com/news/craig-wrights-twitter-account-disappears-along-with-10000-tweets) (Bullish or Bullshit?) - Brent
- [He deleted 10,000 Tweets in about 24 hours.](https://ambcrypto.com/craig-wrights-twitter-account-gets-suspended-following-threatening-tweets/)
- 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.
- Mailbag
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- Rapid Fire
- [Stellar (XLM) Listed on Coinbase pro](https://www.coindesk.com/stellar-lumens-is-about-to-begin-trading-on-coinbase-pro)
- [Someone posted on reddit that the sites CrashDoge, CrashingBitcoin, and CrashingCrypto are scams](https://www.reddit.com/r/CryptoCurrency/comments/azh66t/crashdoge_crashingbitcoin_and_crashingcrypto_are/)...WOW that was a hard one to figure out. Also they are run but someone named HERPES.
- [You actually can earn BAT now on the developer Brave Browser](https://brave.com/ad-platform-enters-second-phase/), we incorrectly reported you could before.
- [OneCoin leader arrested for scamming in the US.](https://www.coindesk.com/a-multibillion-dollar-cryptocurrency-based-on-lies-us-arrests-alleged-onecoin-leader)
- [This Stupid Ass Movie](https://www.youtube.com/watch?v=kYZut3DWvek&t=10s) - Shoutout @anthony in the CB Discord.

[https://www.youtube.com/watch?v=kYZut3DWvek](https://www.youtube.com/watch?v=kYZut3DWvek)

- [The NEO Blockchain was DOWN for over an hour.](https://www.reddit.com/r/CryptoCurrency/comments/azfiuz/the_neo_blockchain_is_down_for_over_1_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.](https://decryptmedia.com/5841/binance-trust-wallet-xrp-credit-card) 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](https://coincenter.org/link/sec-chairman-clayton-just-confirmed-commission-staff-analysis-that-ethereum-and-cryptos-like-it-are-not-securities) @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](https://coincenter.org/link/a-top-sec-official-said-that-ether-is-not-a-security)."
- 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
- 2. There is an expectation of profits from investment
- 3. the investment of money is in a common enterprise
- 4. 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.](https://www.reddit.com/r/sandiego/comments/ax9sq4/gas_station_now_accepting_bitcoin_at_governor/) @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](http://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](https://www.reddit.com/r/ethtrader/comments/b0gwlr/8_of_americans_own_cryptocurrencies/) @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 Crypto Exemptions Bill)
- 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.

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](https://u.today/quadrigacx-granted-45-more-days-to-recover-lost-140-mln-exchange-may-be-sold-later-on)

[Bitgrail CEO must repay 170mil](https://whichblockchain.com/news/bitgrail-ceo-must-repay-170-million-in-missing-funds/)

[XRP and XLM were approved by Thailand SEC](https://www.reddit.com/r/CryptoCurrency/comments/aw52k8/xrp_xlm_approved_by_thailand_sec/)

[IOTA Released a Testnet without the COO - AND they went fully discord transparent.](https://blog.iota.org/a-coo-less-testnet-879ad17ca1af)

[ENJ Released their SDK for Unity](https://twitter.com/enjin/status/1102362183462195200?s=09) - 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](https://blog.kraken.com/post/2155/were-offering-a-100000-reward-for-discovery-of-quadriga-coins/) 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](https://www.kraken.com/#episode3) and [4th episode](https://www.kraken.com/en-us/learn/podcast#episode4)). They're combined almost 3 hours worth of information. I didn't listen.
- [It fuckin worked somehow.](https://www.reddit.com/r/CryptoCurrency/comments/avwzce/breaking_over_600k_ethereum_belonging_to/) 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.](https://www.reddit.com/r/CryptoCurrency/comments/ax6i7q/quadrigacx_plot_thickens_as_cold_wallets_are/)***
- 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](https://www.coindesk.com/bitcoin-betting-game-hxro)
- 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](https://www.coindesk.com/what-coinbase-needs-to-learn-from-the-neutrino-scandal).
- They had a team that all worked on a project called [Hacking Team](https://en.wikipedia.org/wiki/Hacking_Team#Controversies), 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.](https://www.coindesk.com/coinbase-pushes-out-ex-hacking-team-employees-following-uproar)
- [They were also aware that whoever Neutrino was supposed to replace was selling user data.](https://messari.io/article/coinbase-executive-says-customer-data-was-resold-by-analytics-vendors)
- 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.](https://www.coindesk.com/coinbases-reputation-crisis-crypto-client-data)
- 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](https://www.reddit.com/r/CryptoCurrency/comments/axxy5p/bag_holders_whats_been_your_worst_investment_what/)**
- Bullish or Bullshit?
- Thailand's SEC Approves Bitcoin, Bans Bitcoin Cash

First of all the link was literally to a [BCH/USD Technical Analysis](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-cash-technical-analysis-bch-usd-within-potentially-deadly-ascending-channel-201903011416) 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](https://www.sec.or.th/en/Pages/News/Detail_News.aspx?tg=NEWS&lg=en&news_no=23&news_yy=2019)

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](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](https://news.bitcoin.com/leaked-transactions-banks-billion-money-laundering/)
- 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](https://www.occrp.org/en/troikalaundromat/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](https://www.occrp.org/en/poy/2018/)
- "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](https://www.coindesk.com/ripple-ceo-brad-garlinghouse-on-jpm-coin-other-banks-wont-use-it)

[Kraken blasts Coinbase](https://twitter.com/jespow/status/1102346122138333184?s=21)

- Rants

Getting Hacked

Samsung Wallet sucks

- Mailbag
- 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.

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.

• Previous Episode
• Whitepaper
• Subreddit
• Website
• Block Explorer
• FAQ
• Article on McCaleb's Freezing
• XRP Governance
• 99 Bitcoins Article
• Site for standard XRP Fud that's basically links to tweets.

• Patreon - $1 an episode would be the best thing ever and keeps us afloat.
• Join our Discord right here
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• Cash App has Bitcoin - If you sign up through that link the show gets $5 and so do you! Stop the presses. The easiest to use money transfer application (yes it's easier than Venmo) now as a built in way to buy and sell Bitcoin. They even have a no - fee debit card you can use.
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• Patreon - $1 an episode would be the best thing ever and keeps us afloat.
• Join our Discord right here
• Subscribe Via iTunes
• Binance Jersey referral link - Well we don’t technically use this, because we can’t. Non-US only.
• Ledger Nano S or Ledger Nano X - This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S.
• Cash App has Bitcoin - If you sign up through that link the show gets $5 and so do you! Stop the presses. The easiest to use money transfer application (yes it's easier than Venmo) now as a built in way to buy and sell Bitcoin. They even have a no - fee debit card you can use.
• CryptoBasic Podcast Email

405.440.3260

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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

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.

• Brave Subreddit
• Luke Mulks Twitter
• CryptoBasic Brave Download
• BAT Rocket Chat
• BAT Telegram
• Blogs
• Brave announcement Luke NEGLECTED to mention

• Patreon - $1 an episode would be the best thing ever and keeps us afloat.
• Join our Discord right here
• Subscribe Via iTunes
• Binance Jersey referral link - Well we don’t technically use this, because we can’t. Non-US only.
• Ledger Nano S or Ledger Nano X - This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S.
• Cash App has Bitcoin - If you sign up through that link the show gets $5 and so do you! Stop the presses. The easiest to use money transfer application (yes it's easier than Venmo) now as a built in way to buy and sell Bitcoin. They even have a no - fee debit card you can use.
• CryptoBasic Podcast Email

405.440.3260

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Brian Li of [Decrypto.Net](https://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.

# LINKS TO TOPICS FROM THE SHOW

* [Substratum Response to Deslisting – Short Version](https://substratum.net/substratum/response-to-binance-token-delisting/)

* [Response to Binance Delisting – Long Version](https://substratum.net/binance/binance-delisting-factors-explained/)

* [Brian’s detailed response](https://decrypto.net/2019/02/16/sayonara-substratum/)

* [Brian on possible Security Fraud](https://decrypto.net/2018/11/07/did-substratum-commit-securities-fraud/)

* [William talks about Substratum Securities Fraud](https://medium.com/@williammckenzie1997/is-substratum-a-security-and-did-substratum-commit-u-s-securities-fraud-cdd10622d392)

* [William talks about the smart contract update](https://medium.com/@williammckenzie1997/substratums-recent-smart-contract-update-and-treasury-management-fe9f9b770955)

* [Brian Tracks down missing ICO funds](https://decrypto.net/2019/01/06/substratums-missing-ico-funds/)

* [SEC on Filing a form D Notice](https://www.sec.gov/smallbusiness/exemptofferings/formd)

* [SEC Form D Search](https://www.sec.gov/edgar/searchedgar/companysearch.html)

* [SEC Talks about ICOs](https://www.sec.gov/news/press-release/2018-264)

* [SEC injunction against Blockvest](https://www.sec.gov/litigation/litreleases/2019/lr24400.htm)

* [Substratum community upset with Justin](https://www.reddit.com/r/SubstratumNetwork/comments/atkv1h/the_impact_of_justins_actions/?st=JSI9OSV8&sh=eaea887b)

* [Substratum community has turned on Justin](https://www.reddit.com/r/SubstratumNetwork/comments/arjsro/will_justin_quit_tomorrow/)

* [More top Sub posts](https://www.reddit.com/r/SubstratumNetwork/comments/arfcec/does_the_substratum_development_and_engineering/)

* [Community finally taking notice](https://www.reddit.com/r/SubstratumNetwork/comments/arzc4v/a_look_at_the_facts/)

# HELP SUPPORT THE PODCAST!

* [Patreon](https://www.patreon.com/CryptoBasic) - $1 an episode would be the best thing ever and keeps us afloat.

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* [Cash App has Bitcoin](https://cash.me/app/RMFXXXL) - If you sign up through that link the show gets $5 and so do you! Stop the presses. The easiest to use money transfer application (yes it's easier than Venmo) now as a built in way to buy and sell Bitcoin. They even have a no - fee debit card you can use.
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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?

# LINKS TO TOPICS FROM THE SHOW

* [Samsung announces the release of a blockchain phone](https://news.samsung.com/us/samsung-galaxy-s10-more-screen-cameras-unpacked-2019/)

* [Someone accidentally sent 2100 ETH as a transaction fee](https://www.reddit.com/r/CryptoCurrency/comments/asapta/someone_just_paid_2100_eth_for_transaction_fees/ )

* [Vitalik is rich](https://cryptoslate.com/vitalik-buterin-discloses-his-cryptocurrency-holdings-corporate-investments-and-other-potential-conflicts-of-interest/)

* [Binance delists a bunch of coins](https://support.binance.com/hc/en-us/articles/360023570292-Binance-Will-Delist-CLOAK-MOD-SALT-SUB-and-WINGS)

* [FBI is interested in talking to Bitconnect victims](https://www.news5cleveland.com/news/local-news/cleveland-metro/fbi-looking-for-investors-who-lost-money-in-cryptocurrency-ponzi-scheme)

* [zerononcense report on Quadriga](https://blog.zerononcense.com/2019/02/16/report-shows-quadrigacx-cold-wallets-actively-involved-in-significant-criminal-activity-ties-to-silk-road-hacked-funds-identity-theft-and-drug-human-trafficking)

* [Reddit post about the QuadrigaCX situation](https://www.reddit.com/r/CryptoCurrency/comments/ar92v4/report_shows_quadrigacx_cold_wallets_actively/)

* [The internet around the world](https://blockonomi.com/south-africa-most-popular-place-cryptocurrency/)

* [More stats about the internet](https://p.widencdn.net/kqy7ii/Digital2019-Report-en)

# HELP SUPPORT THE PODCAST!

* [Patreon](https://www.patreon.com/CryptoBasic) - $1 an episode would be the best thing ever and keeps us afloat.

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* [Ledger Nano S or Ledger Nano X](https://www.ledger.com/?r=d6b6) - This is where you buy the hardware wallet that we're always talking about on the show - we all use a Ledger Nano S.

* [Cash App has Bitcoin](https://cash.me/app/RMFXXXL) - If you sign up through that link the show gets $5 and so do you! Stop the presses. The easiest to use money transfer application (yes it's easier than Venmo) now as a built in way to buy and sell Bitcoin. They even have a no - fee debit card you can use.
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