what is a savage cache nation I’m your host Superman let’s get right into the news so in today’s episode we are going to be looking at what has happened to the cryptocurrency market in literally the last few hours if you have gone on to coin market cap very recently you will notice that most the predominant number of crypto currencies are in the red today and if you’ve done your research you will know this is the reason why South Korea band’s initial coin offerings ouch so South Korea has become the latest country latest look at that language used in mainstream media the latest suggesting it’s not gonna be the last we heard China first now we got South Korea who’s gonna be next that’s what’s kind of implied by the latest country to ban initial point offerings an increasingly popular but unregulated form of capital raising honest making a sound really seedy and negative so South Korea’s Financial Services Commission said on Friday today all i SEOs would be banned all I cos would be banned and the financial watchdog added that virtual currency trading needed to be tightly controlled so we are seeing a replica of what happened in China which is basically straight outright ban and we need to tightly control the process of raising money and how these companies are doing it because let’s face it being absolutely brutally honest any company can create an icy I mean as a cryptocurrency you know youtuber I get tons of I get it every couple of hours I get about five messages where people are saying Superman you know we’ve seen you stuff on YouTube and we are we’re creating this ICO it’s going to do this it’s going to do that what do you think what do you think I think make pretty features could you feature us and I see Odell I mean I’m just getting so many I see a request is just unreal and they’re a very fear where I can cut through the nonsense and find you know golden nugget or needle in a haystack but doesn’t happen very often so that’s why I do yeah a special I SEOs every once in a while but basically all i SEOs would be bad okay now South Korea has recently gone under the spotlight because of Ikon Ikon was a hyped up ICO recently sold out okay very exciting ICA and you know people who invested in Ikon are going to be slightly worried and so what I kind of done is they have released some information about their kyc now kyc is basically like their you know kind of legal protection okay legal regulations and so what they’ve said is with the recent tightening of blockchain regulations Ikon is preparing additional legal policies in order to protect Ikon contributors okay so will be delayed by a few weeks okay so when they were originally going to schedule the process it’s still going to happen then okay so they are going to be making some some further changes so you know we haven’t even seen the beginning really of how this is going to pan out and what’s going to be affected and what not but if we look at coin market cap you’ll see that prices haven’t significantly dropped Bitcoin is still above 4100 if they’re not far under $300 ripple is only just dipped from 20 cents Bitcoin cash has gone down a bit like coin coin has gone down a bit but it’s not under $50 yeah so the the dip is relatively small and I think that this is one of two things number one is people are like right you know we’ve seen all this before China the second largest economy in the world vacance in cryptocurrency they tried they failed why should South Korea be any different they’re not a significant as China they’re just jumping on the bandwagon and trying to showcase their power and this is what little power you’ve got that’s why it’s dips up maybe dip slightly rather than majorly another reason is this wife picked up from crypto Korean so crypto Korean I see it’s a little bell ICN ledger who really brought some great information around the time when China were banning icos and so what he said here is the direct translation from the government is we must stop all forms of ico irrespective of language and technology however a media outlet a respected media outlet said in that an article about I cos that foreign I SEOs can still participate so there is a bit of confusion regarding which icos are actually backed okay so this confusion is made people think oh it’s fake news it’s not real news it’s furred and all this kind of stuff but it seems as though that we’ve got to take the word as read now at the moment America have not woken up so we don’t know what’s going to happen as a result of America waking up they could literally wake up and think the market that is what happened about two and a half weeks ago they woke up they saw the cryptocurrencies have gone down slightly and then they just cause it to dramatically you know flop and then what happened is that literally a few days later the market crashed cheap below three fat the Bitcoin crashed of below 3000 aetherium down to below $200 and what happened is America brought it back up so we don’t know what’s going to happen this could literally be a little drop in the ocean rather than a boulder being through okay so at the moment this is a good time to accumulate your crypto currencies on the way down potentially or get them before they go back up okay so you’ve got to kind of exercise your discretion here you’ve got a kind of thing right what have I wanted to get into what do i what have I seen subsequently rise since their last ban and I know is going to rise again if I invest in it okay so Neos not that much below $30 so this is a good time to get into neo on this go is not far below $10 so this could be a good time to accumulate headaches this has gone down a lot actually you know to 56 this yo Julian Hoffs my man Julian Haase he’s a great internet personality and founder okay there’s not a lot of founders that have got the charisma of Julian Hoss you know I’ve spoken to him I think he’s a marvelous guy really helpful really friendly easy to get on with and he has essentially brought Tenex back from under $2 surging right back Khyber hasn’t really been affected by what’s happening in South Korea neither has steamed now steamed everybody says Oh super bad why do you keep hyping up Steve it’s not that great actually I think steam is excellent but literally in the last 24 hours it’s just moved up a leak and this price increase has has reflected that so let’s move on now to Steve now Steve have done something really significant literally within the last cut 15 hours 24 hours okay they are introducing what’s called Smart Media tokens which is essentially going to be a competitor to etherium GRC 20 tokens a lot of people can create icos based on the etherion blockchain where you can raise money using etherium as a buying cryptocurrency so if you’re getting involved in a ICO a lot of them require aetherium to be transmitted through the etherion blockchain to fund them and of course they reward you with tokens now what steam are doing and they are introducing what’s called Smart Media tokens which is where they are incentivizing companies to create I SEOs using steam and also incentivizing social networks to incentivize and monetize their blogs to monetize their posts okay so these tokens are going to have those kind of two main purposes okay mainly funding ICO so any social networking companies that you’re going to be monetized they can essentially launch using smart media tokens and the reason why you would use smart media tokens over ECR 20 tokens instead of creating an aetherium based cryptocurrency is because of the fees the fees are extraordinarily high compared to steam which is much much lower which is what they’ve been saying so they’ve stipulated all of this in their recent whitepaper talking all about Smart Media tokens okay so it’s going to give anybody the power to launch and sell the what they call proof of brain tokens okay which attackers distributed by upvote and like based algorithms a lot in the way in which steam has done it okay so let’s just look at steam let’s look at my Steam it’s not as impressive as Jerry Banfield’s unfortunately if you’re on Steam following me on Steam I want to catch up with Jerry because he’s been taking the mick out of me too much recently but anyway look so when anybody up votes your block when anybody comments on your blog you get steam you get steam dollars essentially this can be converted into steam dollars or to steam power but this is how this is but essentially is monetized monetized social networking all right now this is something that I have said I really want for invest fee to do now they don’t necessarily need they’ve they’re developing their own but for a company that want to be the next invest for you the company that want to be that twitter meets bit tracks if they wanted to straight away have an incentivize a monetized kind of plan where you know somebody if one of their content creators he brings in a lot of people to their platform one of their content creators makes a popular post it gets lots of up votes against lots of comments that content creator can essentially get money from doing that with this new smart medium or smart media token so the smart media token is revolutionary and this is going to set any protocol with in token creation and ICO creation okay this is going to essentially incentivize blogging and social networking and also enable i ce o–‘s to have a different token network to be able to raise funds and be able to bring people to their platform without paying the extraordinary fees of launching an e rc 20 total okay so steam is the perfect example of where this system works perfectly somebody likes or if somebody comments you get paid and that is the magnificent thing and the same thing can be applied to teaching this is the same thing as happen on teaching likes and comments or up folks and comments lead to money and the this system is working absolutely perfectly across Steam its platforms and they are a trailblazer in what they are achieving right now with their platforms stiva are also doing it with the sound audio which is a way in which you can upload music and get paid for people liking commenting on it so they are essentially showing proof of this system completely working and for something like a social network like invest feed that kind of protocol would be absolutely valuable because at the moment on invest feed I don’t get anything for having really popular post I don’t get anything for bringing loads of people to invest feed however I have spoken to the guys at in recipe and they are going to be introducing a good monetization structure in the future but I can’t say more than that because that’s not something I can reveal all I can reveal is that invest fee is gonna get a lot better but the fact of the matter is is that steam with their smart media tokens are going to be able to enable more invest fees if we go to Mashable for instance if they were to launch let’s say Mashable token or mash a coin or whatever right what they could do is they can implement the smart media token protocol on top of their website and enable people to comment on the blog and be able to get our voted and get money which would then incentivize them to comment and like more articles by Mashable so it’s a really good audience retention model also it will enable the bloggers themselves to have a mechanism by which they could get likes and commented on or up voted and commented on which means they get a little bit more money in addition to what they get paid for writing the article so it’s always got two benefits as a protocol so I see that smart media tokens is going to lead to next stage social networking next stage engagement on people’s blogs and on people’s web sites all sorts that this is going to be a game changer I think and this is steam literally saying guess what we’re not just a monetized blog we’re not just a you know uncensored YouTube where you can get paid much better than you do on YouTube we’re not just a company looking to take over audio we are looking to compete with aetherium okay so this is the next step this is steam going up a league essentially so this is a good reason why that even despite what’s happening in the market right now steam has gone up and this hasn’t really been properly shared out there but this is going to be huge so I would encourage you to go to SMT do steam do and have a look and see what is happening with steam read this white paper and see if excites you would see if it’s worth investing in steam because I’ve already told you I saw steam as a social networking Goliath for long ago and this is only confirmed that a little bit more okay something else which is relevant in the news right now is Bitcoin gold so what is happening with Bitcoin gold so it says it after the hard walk on August the 1st that produced Bitcoin cash many bitcoiners have been waiting for the possibility before taking place with the cygwin 2x plan however a lot of Bitcoin proponents don’t know about another fort called Bitcoin gold that’s scheduled to take place on October the 25th so this has started now to get shared around social media okay now Bitcoin gold is essentially going to be mined differently okay so the fourth protocol aims to change bitcoins consensus algorithm allowing users to mine the currency with graphic processing units okay now I’m not going to pretend to know what they some not a miner but Bitcoin go we’ll use the egg we hash algorithm used by the old coin said coin cash rather than bitcoins original sha-256 okay so they are looking to essentially change the way that the coins are mined with bitcoin gold with a great strong name on Bitcoin gold okay so it’s now starting to come under people’s radar and people are starting to get behind it and people are hoping that by holding Bitcoin they will be able to get some Bitcoin gold in exchange just like with Bitcoin cash when the beginning of August so essentially the long and short of it is is that the market is slightly dipping and this is a great time to get in and by on the way down just in case it is on the way down because literally Justin in the last few moments it went from 140 billion market cap to 141 billion and you can see there is drastically reduced the losses okay now is 1.2 percent you know 1.3 percent so we are seeing things going back up even though people in America are probably getting up right now we are seeing the buying we’re seeing more of a bull market than a bear market occur or at least more bull activity happening than bear activity so this is looking like good news so if you can get in there early and Steve has already gone up a little bit more and the reason why is because of this the smart media tokens so this is the time to get behind steam people this is where we are going to see the rise of steam I dare say so that is today’s episode of savage cash much shorter than my live episodes if you prefer my life let me know in the comments if you prefer it being pre-recorded and shorter let me know in the comments until then I’ve been Superman I will see you in the next episode

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