Possible Future Ethereum Hard Fork, Goldman Sachs Enters Crypto And

hello everyone welcome back for another video I hope you’re having a great day and that you are all doing well to start things off there’s a lot of interesting news around aetherium at the moment so to start things off a week-long vote on a proposal in regard to the parody hack wallet reversal which proposed to restore a disabled contract to unfreeze 587 wallets holding five hundred and thirteen thousand aetherium held equal to around three hundred and sixty million dollars at today’s prices has ended with the majority no vote on April 24th this was yesterday so for those who do not know I’m not sure if there’s gonna say it in the article there was an incident sometime a couple of months ago where someone said that they had done something to the code of one of the contracts and it froze it got torn apart it messed up the person said that they did it by accident and other people didn’t obviously believe them yeah it says right here okay in November of last year a parody user accidentally killed the parody multisig library by activating a vulnerability to become the owner of the library and then self-destructing it takes a couple of steps to get to this point so a lot of people don’t believe this person prior to that the library had been fixed and redeployed with the vulnerability after parody was hacked up around 150,000 aetherium in July of 2017 in response to the accidental freezer of the etherium funds parody wrote in a blog post that they are working on a theory and proposal e IP that would propose ways to unblock the funds ew 999 presented on April 4th and written in regards to the frozen aetherium suggests restoring the wallet library to a patched version to allow the owners of the dependent multi signature wallets regain access to their assets EE I P 999 received three hundred and thirty no votes three hundred yes votes and nine I do not care votes so aetherium has had a history of things especially smart contracts on their platform freezing or not working or blocking people out of their funds and this is why we have I believe this is why we actually have etherium classic as well so to kind of segue into this is it literally is the based on this entire topic with the entire thing happening around proposal 999 it has led a lot of people to believe that because they have voted no that atheria may be on the brink of another blockchain split those in favor of the proposal point to the frequent losses of ether due to buggy contracts arguing that the platform should insure against such avoidable mistakes but on the other side many warned that editing code after deployment could damage not only the security but also the integrity of the platform it’s clear no matter where you stand that the issue is contentious enough that if IP 999 goes forward which it did not and then implements then it will generate generate a contentious hard fork developers of etherium Mis browser Alex fund designed said during the dev meeting on April 20th it’s unavoidable that it will create a split and the fact that they have voted no to a rather the majority voted no to finding a way to give these people back their money it is leading up to another issue where a theory encode once again split to restore the funds for these people but then so if you haven’t noticed Bitcoin has a lot of Forks and this is at the beginning this was kind of an issue more now people you know people are behind most people are behind the number one coin V Bitcoin whatever you want to call it I don’t I’m not getting into all the politics of it it seems like a theory ‘m could be going down this road as well as far as there are a lot of things that have happened on the platform and on the network that a lot of people aren’t too happy about and there’s a lot of discussions about creating new Forks because people believe that aetherium should be a certain way that he theory I’m sure not be this way that any P anyone who has lost their funds they should be able to then fork it to get their funds back but it creates a scenario where who then has the say as to how many aetherium there are or should be or exactly when a fork should happen or when a fork should not happen even if there is a majority or minority vote happening this could eventually get messy have a feeling around three to five years time atheria may just become another thing like bitcoin where there’s so many Forks happening off of it because someone is you know trying to say that this is how the network should be that people will eventually stop caring about the other fork sort of happening but I think as of now aetherium aetherium classic and whatever this other potential fork could be and maybe even a fourth one maybe the only ones that are on people’s radars but less hope that they I don’t not even hope that they get it together I think that um so many things have happened with etherium and don’t get me wrong it’s one of my favorite coins I’ve been with them since he theorem was around four or five dollars literally one of my top coins but there are a lot of cracks and they’re starting to show so let’s hope that they kind of get it together I don’t know what else to say on the matter next up goldman sachs has hired a crypto trader and this is significant for a number of reasons Goldman Sachs has hired former trader Justin Schmidt to head the multinational investment bank and financial service companies digital asset markets and Goldman securities division as reported by tearsheet Schmidt who assumed the position on April 16th previously served as both a senior VP at 7 8 capital and portfolio manager at LM our partners the new addition to Goldman Sachs team represents the dramatic increase in institutional interest towards Bitcoin over recent months reports first surfaced regarding the Wall Street Giants plans to launch a cryptocurrency trading desk in December though the financial institution has reportedly denied the claims Goldman Sachs did however help fund peer-to-peer payments technology companies circle in 2015 as recorded by Bitcoin it’s yesterday the Goldman funded company recently doubled the size of its minimum cryptocurrency trade requirements from 250 to $500,000 citing the fact that the market is robust this is one of the places if you are new or relatively new to crypto last year we had a really big problem especially in the beginning of 2017 where we had a barrage of banks and these huge corporations coming forward saying that they hated cryptocurrencies there was no need for it was every other day we had about a good eight week period where prices were kind of slipping down because I’m Goldman Sachs chase JPMorgan all these other institutions were coming together saying how much they hated crypto currencies and now they’re all tumbling into it talking about how they see the possibilities of what it is many of these people did not even know what a Bitcoin was or what a blockchain was people were trying to tell them about or ask them questions on panels about etherium and ripple and what they thought about them they did not know what these things were this is once again why I say I believe that the cryptocurrency market is nowhere near where it should be because all of these people are getting into the market they know exactly what’s going on at least for now well they seem to know what’s going on and they have definitely been buying this cryptocurrency up you can kind of tell there have been very low days in the market and you see that the volume had increased dramatically they’re definitely buying all this stuff up and now I mean when Goldman Sachs has hired a crypto trader in response to their clients interest I mean they’re like I always say the writing is on the wall I think something very big is going to happen and I do not think that we are able to not to get had a huge discussion with a friend a couple of days ago not to even get into all of it I don’t know how interested you guys are but there’s something big at play here you see all the news and I’m putting out every single day there’s a reason why a multi-billion dollar corporations or companies or banks are now talking about the cryptocurrency space and how they think that you know there’s there’s enough interest that they’ll definitely get into it these people are also holding cryptocurrencies they’ve been getting into the game they’re the people who are trying to force or get ETFs into the stock market and the other things around the world I think crypto is headed for really major prices that a lot of people aren’t expecting and yeah that’s enough time I’m not gonna tell you the entire conversation that I had with my friend you guys would look at the screen like I’m absolutely crazy once again mark and wash The Wall Street Journal market watched the news publishing unit of Dow Jones Media Group announced Wednesday that it will begin tracking the market moves of eight additional cryptocurrencies I wonder why they would be doing that on Wednesday the company said that on top of his Bitcoin tracking to a market watch will display information for ether XRP Bitcoin cash litecoin hiriam classic Manero – and Zedd cash the website has been tracking the price of Bitcoin since 2014 the new service will post real-time quotes for both the US dollar and the euro as well as historical price trends for the nine crypto assets using data from decrypted currency exchange cracking what did I say a couple of days ago when Forbes and Bloomberg were all posting articles about how this art did this crypto currency and this so and so and so they spoke for years only about how horrible Bitcoin was 2017 was when they started talking about how cool Bitcoin was and have to get into it and it’s definitely digital gold and Bitcoin is definitely this and now this is these are the coins that they’re these three right here I don’t know if you’ve noticed or have been looking at CNN CNBC Forbes Bloomberg reading any type of financial news ether XRP and Bitcoin cash are constantly on the radar of all these major institutions that’s not to say that these here aren’t but pay attention to what’s going on something major is happening and this is why we’re receiving there was a someone said a day or two ago with some huge financial institution person whatever was talking about how he thinks that bitcoin is definitely headed to ninety thousand dollars this year because in about a month or two all this institutional money will be tumbling into the market Oh a bit of a segue I was going to post the article the guy who I think this might actually be a yeah this article right here I was going to post it it’s not really necessary about everything was happening in the cryptocurrency space and exactly what this guy was saying about which coins are securities and stuff like that there’s been a lot of talk about the market and where it will be in a couple of weeks because remember I was saying before how there was news that we would get clarification on which cryptocurrencies would be securities and stuff like that by June it appears now according to this guy’s speech and according to the people in the SEC who he knows and has been talking to whatever the cases of Ababwa he has stated that he thinks or knows I’m not in that guy’s head that we will not receive proper clarification on which coins our securities until another 9 to 48 months he said what is that what’s happening is that there’s so many discussions going on he thinks that a lot of lawsuits could eventually start tumbling out because if you label one coin as a security and 48 others not as securities the one major coin is going to launch a lawsuit against the SEC and all of this stuff could eventually have to go to the Supreme Court because event no one wants to be labeled as a security especially for aetherium and XRP and his ripple there is no reason to label these things that not to completely Segway off of this but I guess it all has to do with the entire you know cryptocurrency market thing that’s going on he says the he thinks this entire labeling of securities or what could be a security could actually take two to five years simply because of how complicated that it is and he thinks that even the entire how we test may have to be modified because of how complicated cryptocurrencies are and this may be exactly why we saw or are seeing a spike in the cryptocurrency prices over the last couple of days because we pretty much thought over the last couple of weeks that we would be seeing some type of regulations but it appears none of this may be happening for years to come which is kind of crazy I’m sure we’ll get more news on it as the week’s go on but he said even this year in the US we probably won’t hear anything about it until December like some type of the beginning of talking about what the SEC is planning so let the good times roll one of the last things I want to talk about today is that MIT published a an article a paper on how exactly to destroy Bitcoin and I started reading and I thought it would be something it was very different than I thought it would be so they wrote three plans on how to destroy Bitcoin and I want you guys to tell me exactly what you think about them I don’t think this is fun I hate using that term so much it feels like I’m chewing a rabbit or something like that it they wrote these really ridiculous ways on how they I don’t know if there are actually scenarios that they think are logically going to happen but they think that the first thing that could happen is a government takeover where governments are creating their own digital currency is this is kind of likely we had people from Japan talking about if other if other countries created their own cryptocurrencies that would actually be the end of finance because it would be so torn apart because countries cannot be trusted it’s funny that you know a huge country would say something like that but they they think that if something called fed coins federal tokens eventually are created this will lead to the destruction of Bitcoin they believe that if everything is tokenized that is to say let’s say you are on Facebook and you’re using Facebook coins and you want to spend it in Toyota and get Toyota cash where literally everything is completely tokenized this would lead to a point where you know bitcoin is just completely irrelevant because you don’t really need it because everything is then tokenized everything is you know you can swap between all of these tokens at a moment’s notice without actually the need of any other cryptocurrencies the weirdest one is if Facebook somehow took over crypto currencies that is to say if okay I’ll read through it because it’s kind of weird first first Facebook creates a proprietary third party Bitcoin wallets and integrates it throughout Facebook’s product suite a scheme designed to trick users into giving the company out size control of the Bitcoin ecosystem and then pretty much them kind of forking because they control so much of Bitcoin that they would then be able to create their own cryptocurrency ecosystem and the old fork that we now know as Bitcoin would silently die on the side I don’t see how likely that any of these are and to be honest if they did happen I think it would take around ten years I think people would eventually notice if Bitcoin if Facebook was buying up Bitcoin and then planning on forking it I feel like we’d have a lot of red flags and a lot of articles about this happening kind of weird MIT if you are listening to this I doubt it that you would publish anything even close to this I don’t really see a reason why and the news is kind of floating around everyone’s kind of scratching their heads maybe they have something planned but I have a feeling in in ten years hopefully we’re all rich enough that any Facebook Bitcoin fork probably shouldn’t be affecting us at that point because we’re sitting on the beach drinking mai tais somewhere the cryptocurrency market is slightly down today because Big Daddy fell a tiny bit who knows exactly what the reason might have been I think we were relatively close to hitting 10,000 and people got kind of scared so this is why you see this dip on just about every other coin and hit some other coins harder than others obviously but a lot of them are still posting very healthy gains and I think because even when I checked a bit earlier this dip this gold is going up right here it wasn’t even there so I think hopefully late afternoon maybe tonight the market should actually be in green once again because these are dramatically if this had dipped like you know 27% of 15% not to be kind of worried but I think everything will be going back up once one’s BTC gets it back together all right everyone that is going to do it for this video a lot of crazy news going on let’s hope the view theorem gets it back together this could also be the reason for the dip in their price but I think long-term realistic so much of the news that is going around around anything aetherium or ripple or Bitcoin cash or a also a light coin related is usually forgotten after a couple of weeks point in case the entire aetherium hack that they had or the freezing of the funds was in no-one’s radar over the last couple of months especially after happened I think especially the cryptocurrency world the market moves so fast that our news also moves so fast and we forget about any negative news that could have possibly happened even just a couple of weeks ago but yeah alright everyone that’s gonna do it for this video I hope you guys enjoyed hope you guys are having a great day wherever you are wherever you might be let’s hope the market is green by tomorrow and I will talk to you all soon see you

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