Has crypto experienced maximum pain?! - Bad News for August 31, 2022

My name is Max. Max Pain. And in case you are wondering if the crypto world has encountered me yet? Some say yes. But some say no. What we know for sure is that Michael Saylor may be in trouble for tax fraud, Crypto.com accidentally transferred more than $10 million dollars to a customer, and Samsung hopes to open a crypto exchange in Korea next year. 

There are predictions and prognostications on what happens next with Bitcoin and the crypto market from experts, so-called experts and wanna-be experts. All I can tell you is you don’t want to meet me in a dark alley behind the exchange. You’re better off meeting those clowns from that horrible podcast. Take your chances with Joel and Travis on this bad news episode #631 of The Bad Crypto Podcast.

Full Show Notes at: badco.in/631

Time Stamps: 

00:00 Intro 

03:40 Crypto market cap

05:00 - What’s the Bitcoin magic number? 

06:15 - Bitcoin could become a zero emission network, according to a report. How much does it cost to print printing press money, when printing presses go “brrrrrrr” and print money out of thin air? 

07:05 - Harnessing stranded methane gas into mining power. Basically, when they can siphon cow farts, Bitcoin will be carbon neutral. 

08:23 - Travis read that by the year 2046 - like every 12,068 years there is some sort of big massive die-off on the planet - and we’re 24 or 26 years away from that. But how can you even determine that? How do you know? 

09:00 - There’s a link I followed from that story in the show notes; banking uses 56x more energy than Bitcoin, exposing the banking system as energy hungry, demonstrating Bitcoin is better for the planet and offers a million times more efficiency than the regular banking system. 

11:11 - Travis shares his real life human 404 error experience with his car registration and tire repair in Puerto Rico; an example of the inefficiency of government. 

13:04 - Bitcoin expert price predictions; depending on who you speak with. What are the things that are causing Bitcoin’s price movement? Well, the Federal Reserve, inflation, money printing. 

14:04 - Bitcoin hasn’t been over $50k since Christmas 2021. BUT Bitcoin is still twice as valuable as it was two years ago. 

14:43 - Crypto goes up, crypto goes down.

All the news links in the FULL SHOW NOTES: badco.in/631

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DISCLAIMER:

Do your own due diligence and research. Joel Comm and Travis Wright are NOT FINANCIAL ADVISORS. We are sharing our journey with you as we learn more about this crazy little thing called cryptocurrency. We make NO RECOMMENDATIONS. Don't take anything we say as gospel. Do not come to our homes with pitchforks because you lost money by listening to us.

We only share with you what we are learning and what we are investing it. We will never "pump or dump" any cryptocurrencies. Take what we say with a grain of salt. You must research this stuff on your own! Just know that we will always strive for RADICAL TRANSPARENCY with any show associations. Support the show: https://badcryptopodcast.com See omnystudio.com/listener for privacy information.