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Nigeria has already banned crypto currencies, since February. And will launch it's own coin the "E- Naira", on friday (1st October 2021) which is fhe countries independence day. Prior to the ban Nigerians were among the top traders of crypto in the world.
Great job... I would love for you to with Charles Hoskins about Cardano ADA ... The two of you are very intelligent and what Cardano is trying to do solves most of the problems of crypto and government.
Yawn they been banning crypto since 2014. Also note that it wasn't possible for them to stop people from accessing it using their firewall. Banning doesn't mean people won't use it. In every country where crypto was banned it continued on telegram and whatsapp.
Here’s a question for you. If a white paper states that “an electronic coin is a collection of VERIFIED signatures” and in 2017 Segwit (a code allowing for unverified signatures but doesn’t change the white paper) Question is, isn’t it A. A scam by claiming a product is something it’s not? Like gold or an ecoin when it’s not? And B. If it’s no longer an electronic coin by its own definition in its own white paper, then what are people transacting with? And what’s there to hold value? An ever changing protocol code that can monitor spending? Cause in my opinion if it’s not an ecoin then what’s holding value?
patrick said " logan paul is one of the greatest artist of the generation. Not my ( Patrick's) generation. Your generation. " This man is forever classy dealing blows without slander , shame or guilt.
Reject the technocrats in there own arena an in the wallet $SDPI the next meme stonk 🎶🎶 Battle 🍢 for the heartlands ❤️ From the Rhine River the Appalachian mountains to the Pacific Ocean To hell with Social impact bonds to hell with ESG it's a hell with all your buddies
Congrats ! I started right before covid when the recession hit. I held those stocks and made a killing. I bought dividend stocks and made a lot during covid.
I'm convinced that the big investors and analysts are trying to scare us to keep us poor and ignorant to the market.. because its steady doing good after all the jobless and market crash talks
The one effective technique I use is staying in touch with a financial coach for guidance, it might sound basic or generic, but getting in touch with a financial adviser was how I was able to outperform the market during the pandemic and raise a profit of roughly $400k
Sir. I like the video were you became a guest of atty libayan from the philippines... your ideas and explanations are all clear and makes sense... hope you had became a guest earlier... Atty was giving a lot of misinformation with the topics that you had tackled. I became a fan after you guesting there. Auto subbed.
My 1st video of yours. Very informative, you earned a new sub today. I prefer a Frank discussion of China policies and action vs. the hyped "let's drop a bomb on them" mentality of our "Right Wing," Nut Jobs, and not just on Faux News. It seems to me that the CCP have forgotten the lessons of others. That success is at the end of a road paved with failures along the way. The chickens so to speak have come home to roost. Bad money policy and corruption at the lowest levels of production. Where these errors blow up 10X worse than the pain caused by interrupting them. I am sure the local people would appreciate it. But the erratic actions of the CCP is chasing capital OUT of China all at the same time these other challenges are going on.
The fact that allowed you to buy is how wealth is to be transferred .. Dave Wright 😀 it's like trading your money for coins because if they were free everyone would have them and become rich ..
@@lorikatherine4927 There is a moment where people will collect coins so much like nothing before, and that will be when the money is inactive ... (My Theory)
@@demostheneslastphilosopher639 Centralization isn't an opinion. Either you are or aren't. 99% are, and 99% of crypto enthusiasts won't care until it's too late.
Nigeria has already banned crypto currencies, since February. And will launch it's own coin the "E- Naira", on friday (1st October 2021) which is fhe countries independence day. Prior to the ban Nigerians were among the top traders of crypto in the world.
Since they banned it, the crypto trading volume skyrocketed in Nigeria as well. It will be very interesting to see if other african countries just decide to jump on the eNaira just because of convenience in comparison with trying to handle their local currencies
Every crypto investor right now just smiling at the price of crypto as it held strong and indeed valuable enough to generating good ROl.more person are gonna become millionaires and we have crypto thanks for that
wow I am just shocked someone mentioned expert Miss Stella I thought I'm the only one trading with her She helped me recover all I lost trying to trade myself
yes I'm also a living testimony of expert Miss Stella Miss Stella has changed my financial status for the best. All thanks to my aunty who introduced her to me
Everyone will ban other cryptocurrencies when they have created their own CBDC (Central Bank digital currency) its just logical. Why would you allow people to trade with anything else.
I bought ETH at 50 dollars. It goes to 20k+ within a few years as the ethereum network begins to replace much of the existing financial system. Not really worried about what Xi or Gensler or CBs can do about it
I hope you've been realising your profits because unless it is controlled by the establishment it has no future. The fun in crypto is in its way out because it has to be controlled. If it won't be controlled, it must be destroyed.
@@BigHenFor do you understand how DeFi works? There is no way to stop it. It would basically mean shutting down the internet and monitoring all activity. Nobody is doing that.
@@BigHenFor I believe it is the financial institutions that are able to adapt to crypto that will avoid destruction. Those that can’t won’t have a chance to be honest. Destroying crypto is a nonsense idea. It’s like trying to destroy the combustion engine at the start of the 20th century. It has already been invented and changed the world forever.
Can you talk about that Jannet Yellen has proposed taxing unrealized gains and the chaos that would ensue as a result of something like this being implemented?
Damn, I hadn’t heard of the proposal until you mentioned it. I feel the tax if implemented would be designed to target the stored wealth, but what do I know. I’m a peasant. Where chaos may ensue, great opportunity will be provided! I say forget politics and focus on compounding, regardless.
It would be very rare that a bill like that would pass. It wouldn't matter from a long term money standpoint for non pros, unless they were to tap into IRA accounts, which defeats the use of an IRA account. They would have to allow unrealized loses to count in a similar way, so it's borrowing from Peter to pay Paul. From a trading standpoint, it would be great for the day trade markets because stocks would trade like a headless chicken days before accounting closing dates to either take advantage of loses or hide profits in complex trades.
remember when Wachovia/Wells Fargo got caught laundering billions to Mexican cartels and settled out of court with no criminal charges? xD remember JP Morgan's billion dollar cocaine boat two years ago? Wonder why these fine upstanding citizens would fear competition lol
I love your video at large but i will advice everybody who is into cryptos to Stick with ETH and BTC as much as you can guys. If everyone sells when it starts to fall, which at one point it will, the dream may be lost because of it being too volatile for companies to get behind.
imagine being rich, being too lazy and ignorant to come to even the slightest agreement. Let's petition to fire the government or take from their pocket Money is good for only three things : fun, investing, and giving.
I rather invest my money on crypto. Bitcoin trading is great, unlike the stock market and other financial markets, bitcoin has no centralized location, since it operates 24hours a day in different parts of the world
you are right Bitcoin trading might make you rich if you are hedge fund with deep pockets or an unusual skilled currency trader After a successful investment you have nothing to worry about, whether the rise and fall of economy won't affect you. Make's your future brighter, by making good investment
So true. Crypto is still used in China to transfer money out of the country. China and America's reason to regulate crypto is exactly the same. Loss of control. When Europe does the same, I'll probably move to El Salvador to support their great idea, and to avoid the insanely annoying questions from the bank every time I transfer a few euros to Patrick or try to get 100 euros in the ATM. Or even get investigated for money laundering if I regularly receive 15 euros from co-workers for buying morning bread for them. I'm sick of banks.
@@jeffsteyn7174 This comment is silly. He didn't deny or affirm GPUs as an asset stream. He simply stated that he hoped this crackdown would mean he could get one.
Based, fuck small brain online list people that obsess over the 21st century equivalent of the tulip craze. They are just degenerate gamblers and the sooner nobody has to hear about crypto this, that, or the other, ever again the better.
So China's "crypto" offering is really just a normal bank account that you access virtually. Basically what all banks already offer: online access to your money.
It's not quite the same as a normal bank account because you're owning reserves (base money) directly. Normally only banks can have digital reserves, i.e. an account balance at the central bank and it's used only by banks in transactions between them. Usually individual people can only own base money in the form of physical cash, not in a digital form. This would be basically digital cash. Now functionally, the difference to most users would be small. However, one difference there is that a normal bank balance is only a promise to pay cash when demanded and a bank may fail to pay if it becomes insolvent. With a central bank digital currency, like the one of China, that cannot really happen because you're owning (digital) cash directly and there never was any promise to exchange it for something else.
Chinese authorities never said they were offering a "crypto" yuan. They always said "DIGITAL YUAN". The assumption that digital equals crypto is entirely a Western misinterpretation. Don't blame China for your own mistakes.
Great video, thank you. Crypto is indeed a product of engineers, not financiers. Yet it has become an asset class but it is also used by criminals. Five years ago, I would have expected the USA rather than China to go that route. China is the first regulator of big economy to look seriously at the issue, which is understandable and actually provides an additional illustration that China has stepped up on the global leadership ladder. Chinese expats are indeed among the biggest consumers of crypto. Unrelated: I have been the Chief Compliance Officer of banks and blockchain structures and it is obvious to all of us that money laundering is flourishing in cryptos. One minor comment on the form: BOC is a commercial bank. Your explanations are correct when referring to PBoC, which is however unrelated to the image of the BOC label shown at the same time.
Thanks Patrick for explaining so much things to us Filipinos. I just subscribe to you and I'm gonna watch most of your videos. Seems interesting and very informative. Thankyou so much for sharing your knowledge
Most of crypto is sketchy and speculative...that is why choose your crypto investment wisely...XRP XDC and Quant all ISO compliance and their network being use by CBDC..unlike BTC and ETH...
Not my generation, YOUR generation :) I had to pause the video in order to try stop laughing. About the content - a great global perspective on the subject! I am curious how the SEC will crack down foreign DeFi projects.
Since the rise of cryptocurrencies, I have yet to see a single store anywhere that takes payment in crypto. It has never amounted to anything and almost certainly never will.
Annnnnd El Salvador. I mean don't get me wrong El Salvador isnt a country I look to and think "yeah they've made sound financial decisions." But the fact of the matter is that stores legally have to accept Bitcoin there now. Will see how it plays out for them over 10 years.
It's surprising that people are so scared and discouraged by the sudden drop in value. Most Crypto traders and investors are less knowledgeable about the dynamic of Cryptocurrency. it's a time to buy dip and connect with good traders that knows the In and outs of wall street wizardry. I'm much covered and secured about the market thanks to EXPERT Mrs Claudia Walter's
Her trading signal and indicators has aided me as an old trader and also to the newbies in Crypto trading. I'm still earning weekly and my wallet keeps growing.
Imagine a world where taxation becomes voluntary.. we might actually have governments which listen to the people for once. Governments hate crypto because crypto makes the individual more sovereign than the state.. and as far as governments are concerned, that is unacceptable.
Wether we approve or disagree of china’s action in banning crypto is irrelevant and ranting about liberal freedoms in support of crypto is also irrelevant, what’s relevant is that China is a totalitarian regime which will be able to ban crypto, once people start getting locked up crypto in China will die out.
@@Shatwb2 they can declare crypto worthless all they like, ultimately it's the market (via supply & demand) which decides the value of something, not governments. Illegal drugs are a good example of that - drugs have zero value according to governments but according to the market they most definitely have non-zero value. Do we live in a drug free world simply because governments decree it? Truth is, if enough people get into crypto then governments are gonna have no choice but to accept it.
@@captainscarlet9581 I don’t even know where to start but sorry to break it to you the free market doesn’t really exist. Currency needs some form of regulation even Snowden has said this. The biggest country in the world that is soon to have the biggest economy has banned it and it looks like that is also going to happen in the US or it will be regulated and at that point it won’t be any different than the physical currency we have now. Crypto is good for investing or saving but it’s not going to replace money back currency anytime soon and might even cease to exist in the next decade
Back to basics : It’s a line of code . It has no interest rate . Therefore it has no intrinsic value. Thus cannot be traded properly vs. Fiat . Extrinsic value is based on pump and dump. Usage value is smart contracts and that’s it.
Crypto has failed as a currency. Imagine one tweet making your upcoming home purchase 20% more expensive. It isn’t “decentralized” when a few hold most of the coins and can pump and dump them. Plus exchanges centralize it to a degree and are a security concern. Being “limited” doesn’t give it value. I can copy BTC and make NateCoin that only has 21 million or maybe even only 5 million coins but that doesn’t inherently make it valuable. Blockchain is the future but that doesn’t mean gambling on coins is. The web was the future too but 99.99% of all DOT COMs ultimately failed.
You're gonna get a lot of crypto fanboy ire from that one. Blockchain is not the future except as a decentralized spreadsheet for small to (barely) medium sized institutions. It's not scalable and, if it were, would require the entire world's capacity of computing power just to work. Crypto is a blue sky ponzi scheme.
Basically China doesn't like independent crypto because of capital flight (If Chinese citizens are allowed to buy property outside of China as investments, they will). Also US doesn't like it because it threatens it's reserve currency status.
@@seneca983 you are making a false dichotomy. It’s not “fund terrorism” or “ban crypto”. You sound ignorant and misinformed when you say that. Regulators just want money. That’s all. To keep their bureaucracy financially healthy.
@@demostheneslastphilosopher639 "you are making a false dichotomy. It’s not “fund terrorism” or “ban crypto”." I wasn't making such a dichotomy. The original comment in this thread didn't even mention banning crypto.
@@demostheneslastphilosopher639 The original comment was about regulators not wanting for people to do what they want. I just wanted to raise the point that sometimes that's warranted (and sometimes not) and there can't be an obvious blanket rule. You were the first person in this thread mentioning "banning crypto".
Serpentza made a good point on a podcast with Tom Nash about this. He said that Bitcoin is one of the only options people have to move money out of the country, and it being decentralized makes it nearly impossible to ban like this. Also, the miners give massive kickbacks to the local politicians in China, so it’s not likely they’ll be ready to give up that revenue stream.
Serpentza is a f*cking Western shill! A conman! Goes, stays in China, marries a Chinese doctor, and then leaves China to later badmouth the hand that fed him. F*ck ungrateful bastards! Besides, the Chinese have thousands of ways to move money! They don't need crypto!
hi Patrick, thank you for your channel! all your videos are really good. i understand that there is one crypto that still is legal in China. it is called Vechain. would be great if you could make a video about it. cheers
That is a somewhat optimistic view. Based on the panama and pandora paper, they need to know it so they know who to offer special VIP treatment for offshore money hiding and multi-layer investment structures to avoid the SEC reporting requirements.
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Can I have your work related email address which you regularly check?
Nigeria has already banned crypto currencies, since February. And will launch it's own coin the "E- Naira", on friday (1st October 2021) which is fhe countries independence day.
Prior to the ban Nigerians were among the top traders of crypto in the world.
Great job... I would love for you to with Charles Hoskins about Cardano ADA ... The two of you are very intelligent and what Cardano is trying to do solves most of the problems of crypto and government.
Yawn they been banning crypto since 2014. Also note that it wasn't possible for them to stop people from accessing it using their firewall. Banning doesn't mean people won't use it. In every country where crypto was banned it continued on telegram and whatsapp.
Here’s a question for you. If a white paper states that “an electronic coin is a collection of VERIFIED signatures” and in 2017 Segwit (a code allowing for unverified signatures but doesn’t change the white paper)
Question is, isn’t it
A. A scam by claiming a product is something it’s not? Like gold or an ecoin when it’s not?
And B. If it’s no longer an electronic coin by its own definition in its own white paper, then what are people transacting with? And what’s there to hold value? An ever changing protocol code that can monitor spending?
Cause in my opinion if it’s not an ecoin then what’s holding value?
patrick said " logan paul is one of the greatest artist of the generation. Not my ( Patrick's) generation. Your generation. "
This man is forever classy dealing blows without slander , shame or guilt.
The whole financial sector is classy. Dealing blows without shame or guilt. Tsk..
“Not my generation. YOUR generation”.
That was savage 🤣🤣🤣
I laughed so hard.
Reject the technocrats in there own arena an in the wallet
$SDPI the next meme stonk 🎶🎶
Battle 🍢 for the heartlands ❤️
From the Rhine River the Appalachian mountains to the Pacific Ocean
To hell with Social impact bonds to hell with ESG it's a hell with all your buddies
bis comment!
fuck...
That Logan Paul drop was savage. All hypothetical though 🤣
Yeah.... that hurt.
loved it! made me laugh out loud
I'm sure Logan Paul is the real reason for China's ban. If he could make a crypto I'm sure they don't want anything to do with it.
Beeple
Same, I couldn't stop laughing ! Greatest artist of your generation, not my generation, that's funny
Agent 47 you are a legend
Do something about the scam bots which use your pictures on your comments please
Just pulled them. I have a piece of software that deletes and blocks them, but they seem to work overtime on any video that mentions crypto.
Thank you Mr.Boyle :)
I'm one of atty. Ranny's subscribers. Hello Everyone😃👋
Mr. Boyle, you’re videos are great. Could you make one on the debt ceiling issue and the bond yields?
Just want to express my gratitude to you for showing up in Attorney Libayan's live stream. I learned a lot. Looking forward to more. Thank you!
Your videos have helped me reach over $200,000 in stocks by age 23! Thanks Patrick Boyle. Keep the videos coming. 👍🏽
Congrats ! I started right before covid when the recession hit. I held those stocks and made a killing. I bought dividend stocks and made a lot during covid.
I'm convinced that the big investors and analysts are trying to scare us to keep us poor and ignorant to the market.. because its steady doing good after all the jobless and market crash talks
The one effective technique I use is staying in touch with a financial coach for guidance, it might sound basic or generic, but getting in touch with a financial adviser was how I was able to outperform the market during the pandemic and raise a profit of roughly $400k
@kim sun When I was 20 but you need a finance Pro to be successful.
@kim sun Yes⬇⬇
Tnx Atty. Libayan
Came here from Atty Libayan interview. It was a great and insightful interview.
@Pinned. by Patrick Boyl.. nice try scammer.
Sir. I like the video were you became a guest of atty libayan from the philippines... your ideas and explanations are all clear and makes sense... hope you had became a guest earlier...
Atty was giving a lot of misinformation with the topics that you had tackled. I became a fan after you guesting there. Auto subbed.
I NEED to buy the Patrick Boyle manic bunny masterpiece to complete my art collection
My 1st video of yours. Very informative, you earned a new sub today. I prefer a Frank discussion of China policies and action vs. the hyped "let's drop a bomb on them" mentality of our "Right Wing," Nut Jobs, and not just on Faux News. It seems to me that the CCP have forgotten the lessons of others. That success is at the end of a road paved with failures along the way. The chickens so to speak have come home to roost. Bad money policy and corruption at the lowest levels of production. Where these errors blow up 10X worse than the pain caused by interrupting them. I am sure the local people would appreciate it. But the erratic actions of the CCP is chasing capital OUT of China all at the same time these other challenges are going on.
This is probably one of the best sources of knowledge in finance you can find in blogosphere. 👏 bravo, Mr.Boyle!
The US taxing citizens abroad is so scummy.
The only country that does so.
You only get taxed for anything above 100k. And that’s only if you didn’t pay taxes in that country.
@@subotaiKhan that is not accurate. I don’t know where you are getting your advice but that is 100% wrong.
@@subotaiKhan You're saying Boris Johnson didn't pay the taxes in the UK and UK didn't care, they just let him pay to the IRS instead?
@@peter.g6 Is Boris Johnson a US citizen?
This is the first time watching your videos..........and it will not be the last. Absolutely brilliant 👍
America should take a hint and do the same
We are at the last dip, which will be the last chance for people to jump into crypto at low prices is about to happen
Same feelings....Believe this bull run is going to last long. Also, later for average person is going to be hard to jump on a train.
The fact that allowed you to buy is how wealth is to be transferred .. Dave Wright 😀 it's like trading your money for coins because if they were free everyone would have them and become rich ..
@@lorikatherine4927 There is a moment where people will collect coins so much like nothing before, and that will be when the money is inactive ... (My Theory)
@@jackelton5940 Glad you talked about Dave Wright, He helped in building my portfolio 🚀 🔥
@@millerhardy5252 Does he have a channel I can reach out with?
13:58 I'm not even gen Z and felt attacked.
If your fav crypto has a CEO, a legal team, a foundation, or relies on cloud-based mega servers, I'd be worried.
A lot of chains have a foundation. Either way though they should be using decentralize networks, even for cloud there is a decentralized chain.
@@demostheneslastphilosopher639 Almost all of them are decentralized in name only, and completely vulnerable.
@@thejimd centralization is a scale. If you’re a Bitcoin maxi then yes they are more centralized. Decentralized networks take time.
@@demostheneslastphilosopher639 Centralization isn't an opinion. Either you are or aren't. 99% are, and 99% of crypto enthusiasts won't care until it's too late.
@@thejimd No more one trillion dollar bitcoin?
This is like trying to ban the internet.they are literally shooting themselves in the foot
they can’t ban internet but they can put internet users in jail
@@ZheyuanLi Eventually you run out of cells, and then you deal with an angry mob.
@@AbsentQuack i am from china.. they never run out of jail lol
"Literally?" How so?
Nigeria has already banned crypto currencies, since February. And will launch it's own coin the "E- Naira", on friday (1st October 2021) which is fhe countries independence day.
Prior to the ban Nigerians were among the top traders of crypto in the world.
Since they banned it, the crypto trading volume skyrocketed in Nigeria as well. It will be very interesting to see if other african countries just decide to jump on the eNaira just because of convenience in comparison with trying to handle their local currencies
Banning crypto is a good way to destroy the future of a countries economy and ensure that it’s only used by criminals.
Any gov't crypto will have admin keys for govt censorship and selective rug pull.
@@demostheneslastphilosopher639 anyone using crypto is a criminal.
Lol... Nigera...
"One of the greatest artists of your generation -- not my generation, *your* generation." Got the Stewart Lee delivery down perfectly there Patrick!
Neither mine generation!
Love your videos man, subbed and notifications on
Every crypto investor right now just smiling at the price of crypto as it held strong and indeed valuable enough to generating good ROl.more person are gonna become millionaires and we have crypto thanks for that
How favourable is the market now.l want to invest in cryptography?
Yeah favourable
Exactly ! That's definitely ignorance, they are good markets to invest in and earn profits of your investment.
I have been trading for 7 month's with no good returns, rather loss and blown account, really heart breaking 😢😢.
Mmmm this did not age well...
Finally, someone who understands modern art 😁
great video again patrick
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Everyone will ban other cryptocurrencies when they have created their own CBDC (Central Bank digital currency) its just logical. Why would you allow people to trade with anything else.
When e-EUR is released next year and when USA will come with there e$.. Market will crash.. Who does need Bitcoin or other coins then?
You must have had a bit too much CBD ... C
They may be all pegged to btc!???
@@Stisse12 🤣 people aren't using btc solely because it's digital. The current system is already digital.
@@jeffsteyn7174 CBDC is cryptocurrencies
I bought ETH at 50 dollars. It goes to 20k+ within a few years as the ethereum network begins to replace much of the existing financial system. Not really worried about what Xi or Gensler or CBs can do about it
Wow
I hope you've been realising your profits because unless it is controlled by the establishment it has no future. The fun in crypto is in its way out because it has to be controlled. If it won't be controlled, it must be destroyed.
@@BigHenFor Yeah because if everyone's getting rich from crypto, no one is.
@@BigHenFor do you understand how DeFi works? There is no way to stop it. It would basically mean shutting down the internet and monitoring all activity. Nobody is doing that.
@@BigHenFor I believe it is the financial institutions that are able to adapt to crypto that will avoid destruction. Those that can’t won’t have a chance to be honest. Destroying crypto is a nonsense idea. It’s like trying to destroy the combustion engine at the start of the 20th century. It has already been invented and changed the world forever.
Not my Generation .... Your Generation! Best Line Yet
"Not my generation, your generation"...dat was a firebomb🔥
Can you talk about that Jannet Yellen has proposed taxing unrealized gains and the chaos that would ensue as a result of something like this being implemented?
Damn, I hadn’t heard of the proposal until you mentioned it. I feel the tax if implemented would be designed to target the stored wealth, but what do I know. I’m a peasant.
Where chaos may ensue, great opportunity will be provided! I say forget politics and focus on compounding, regardless.
It would be very rare that a bill like that would pass. It wouldn't matter from a long term money standpoint for non pros, unless they were to tap into IRA accounts, which defeats the use of an IRA account. They would have to allow unrealized loses to count in a similar way, so it's borrowing from Peter to pay Paul. From a trading standpoint, it would be great for the day trade markets because stocks would trade like a headless chicken days before accounting closing dates to either take advantage of loses or hide profits in complex trades.
remember when Wachovia/Wells Fargo got caught laundering billions to Mexican cartels and settled out of court with no criminal charges? xD remember JP Morgan's billion dollar cocaine boat two years ago? Wonder why these fine upstanding citizens would fear competition lol
I wake up every day and thank god I wasn't born in China
Amen, bro, amen
bad news - China is coming to you.
born in China. Ran away later.
Winnie the Pooh runs China. :-D
lmao the whole world is laughing at Winnie the Pooh 🍯🍯🍯🍯🍯🍯🍯
From philippines here. watching you in ponzi scheme in atty libayan channel
Not gonna work. What is the difference of having: Digital Yuan VS Yuan, in the bank? Nothing.
Digital yuan is easier fir the government to track
@@nech060404 Money in the bank is already digital and extremely easy to track.
next: farting will be limited to 3 times per week.
Somewhere I heard that advice to a DeFi manager: "Grow faster!" in order to be in a better position when regulators find their way.
I love your video at large but i will advice everybody who is into cryptos to Stick with ETH and BTC as much as you can guys. If everyone sells when it starts to fall, which at one point it will, the dream may be lost because of it being too volatile for companies to get behind.
imagine being rich, being too lazy and ignorant to come to even the slightest agreement. Let's petition to fire the government or take from their pocket Money is good for only three things : fun, investing, and giving.
The government don't care about us, that's why i always advice people to invest
I rather invest my money on crypto. Bitcoin trading is great, unlike the stock market and other financial markets, bitcoin has no centralized location, since it operates 24hours a day in different parts of the world
you are right Bitcoin trading might make you rich if you are hedge fund with deep pockets or an unusual skilled currency trader After a successful investment you have nothing to worry about, whether the rise and fall of economy won't affect you. Make's your future brighter, by making good investment
Honestly, I tell this to my friends everyday. It's good to save money but you gotta have that investing spirit if you really want financial freedom
So true. Crypto is still used in China to transfer money out of the country.
China and America's reason to regulate crypto is exactly the same. Loss of control. When Europe does the same, I'll probably move to El Salvador to support their great idea, and to avoid the insanely annoying questions from the bank every time I transfer a few euros to Patrick or try to get 100 euros in the ATM. Or even get investigated for money laundering if I regularly receive 15 euros from co-workers for buying morning bread for them. I'm sick of banks.
You're not moving to El Salvador lol.
@@vespers119 Why not?
Excellent video. Thank you! Subscribed
People should create and watch more informative content like this, thank you!🇵🇭
I remember china baned crypto like 4 times at least. Always a good buy signal
Such a shame that I just discovered this channel because of Atty.Libayan... looking forward to your videos Mr.Boyle Love from Philippines.
I'm hoping this means I can get a GPU lol
Expect the market to be filled with many fake 'ex china' rigs.
No. It's time u guys accept that a gpu is an asset that can make someone money other than been used to make a game look pretty.
@@jeffsteyn7174 This comment is silly. He didn't deny or affirm GPUs as an asset stream. He simply stated that he hoped this crackdown would mean he could get one.
Yessssss!!! 👽🤡
Based, fuck small brain online list people that obsess over the 21st century equivalent of the tulip craze. They are just degenerate gamblers and the sooner nobody has to hear about crypto this, that, or the other, ever again the better.
Are you adding something to the background each video? Love the Pets Dot Com puppet! That's a great find!
Not my generation either! 😂👌
So China's "crypto" offering is really just a normal bank account that you access virtually. Basically what all banks already offer: online access to your money.
Online access to your money and easier tracking for them.
They also are legally obligated to keep at least 0% of your capital in reserve. 🙄
It's not quite the same as a normal bank account because you're owning reserves (base money) directly. Normally only banks can have digital reserves, i.e. an account balance at the central bank and it's used only by banks in transactions between them. Usually individual people can only own base money in the form of physical cash, not in a digital form. This would be basically digital cash. Now functionally, the difference to most users would be small. However, one difference there is that a normal bank balance is only a promise to pay cash when demanded and a bank may fail to pay if it becomes insolvent. With a central bank digital currency, like the one of China, that cannot really happen because you're owning (digital) cash directly and there never was any promise to exchange it for something else.
@@LemonChieff It's 100% reserves because you're owning reserves directly.
Chinese authorities never said they were offering a "crypto" yuan. They always said "DIGITAL YUAN". The assumption that digital equals crypto is entirely a Western misinterpretation. Don't blame China for your own mistakes.
Your Generation
Great video, thank you. Crypto is indeed a product of engineers, not financiers. Yet it has become an asset class but it is also used by criminals. Five years ago, I would have expected the USA rather than China to go that route. China is the first regulator of big economy to look seriously at the issue, which is understandable and actually provides an additional illustration that China has stepped up on the global leadership ladder. Chinese expats are indeed among the biggest consumers of crypto. Unrelated: I have been the Chief Compliance Officer of banks and blockchain structures and it is obvious to all of us that money laundering is flourishing in cryptos. One minor comment on the form: BOC is a commercial bank. Your explanations are correct when referring to PBoC, which is however unrelated to the image of the BOC label shown at the same time.
This man is brilliant🤣👌
Hehe, loved this video 👌 thanks for your information I'am happy I stumbled across you 😎
I love this guy “not my generation “ lmao 😂
Thanks Patrick for explaining so much things to us Filipinos. I just subscribe to you and I'm gonna watch most of your videos. Seems interesting and very informative. Thankyou so much for sharing your knowledge
Will there be a new video next time China bans Bitcoin? :)
Most of crypto is sketchy and speculative...that is why choose your crypto investment wisely...XRP XDC and Quant all ISO compliance and their network being use by CBDC..unlike BTC and ETH...
Not my generation, YOUR generation :) I had to pause the video in order to try stop laughing. About the content - a great global perspective on the subject! I am curious how the SEC will crack down foreign DeFi projects.
Hi from London still holding 9 months, got 22,784 shares. Market crash or not . I will be rich forever
Hit 120k today, Thank you for all the knowledge and nuggets you had thrown my way over the last months . Started with 14k in January 2021.
Let’s goooo
Congratulations!!! I’m at 79k as of today, started with 10k at the end of March this year . I’m truly happy for you! Continue crushing it my friend. .
I wanted to trade Crypto but got discouraged by the fluctuations in price
He has really made a good name for himself
Since the rise of cryptocurrencies, I have yet to see a single store anywhere that takes payment in crypto. It has never amounted to anything and almost certainly never will.
Dont buy it
@@ifeawosika966 I'll buy it the day cow turds become a hot item on the stock market.
@@SnoopyDoofie Amazing watching people stay poor. Good luck to you
Annnnnd El Salvador. I mean don't get me wrong El Salvador isnt a country I look to and think "yeah they've made sound financial decisions." But the fact of the matter is that stores legally have to accept Bitcoin there now. Will see how it plays out for them over 10 years.
@@ifeawosika966 Speculative investments in crypto aren't the only way to make wealth.
We do not claim the Paul brothers.
9:56 VPN
China already banned Crypto a 100 times before...
Whoever inserted the "Ozark" reference is truly my hero!
13:35 that makes a lot of sense now why these art pieces go for sale at such a high price. It’s just them selling it themselves for that much
The 5 people who disliked this were Logan Paul and alts 😂
The economic hardship, recession, unemployment and the loss of job caused by covid pandemic is enough to push people into financial ventures.
I have secured financial freedom by investing in bonds, equities, EFT's and some digital currencies.
I wanted to invest more on Digital currency (Crypto) but the fluctuations in Crypto value discouraged me into dumping.
It's surprising that people are so scared and discouraged by the sudden drop in value. Most Crypto traders and investors are less knowledgeable about the dynamic of Cryptocurrency. it's a time to buy dip and connect with good traders that knows the In and outs of wall street wizardry. I'm much covered and secured about the market thanks to EXPERT Mrs Claudia Walter's
@@olivd8550 Thanks, I will reach out to her immediately.
Her trading signal and indicators has aided me as an old trader and also to the newbies in Crypto trading. I'm still earning weekly and my wallet keeps growing.
Waiting for atty libayan collab...
Tomorrow morning!
@@PBoyle a humble youtuber...thank u
Thank you for your valuable information.
That Logan Paul joke was meta
Imagine a world where taxation becomes voluntary.. we might actually have governments which listen to the people for once.
Governments hate crypto because crypto makes the individual more sovereign than the state.. and as far as governments are concerned, that is unacceptable.
Wether we approve or disagree of china’s action in banning crypto is irrelevant and ranting about liberal freedoms in support of crypto is also irrelevant, what’s relevant is that China is a totalitarian regime which will be able to ban crypto, once people start getting locked up crypto in China will die out.
That is a pipe dream That’s a big what is all governments gotta do is say it isn’t worth anything
@@Shatwb2 they can declare crypto worthless all they like, ultimately it's the market (via supply & demand) which decides the value of something, not governments. Illegal drugs are a good example of that - drugs have zero value according to governments but according to the market they most definitely have non-zero value. Do we live in a drug free world simply because governments decree it?
Truth is, if enough people get into crypto then governments are gonna have no choice but to accept it.
@@captainscarlet9581 I don’t even know where to start but sorry to break it to you the free market doesn’t really exist. Currency needs some form of regulation even Snowden has said this. The biggest country in the world that is soon to have the biggest economy has banned it and it looks like that is also going to happen in the US or it will be regulated and at that point it won’t be any different than the physical currency we have now. Crypto is good for investing or saving but it’s not going to replace money back currency anytime soon and might even cease to exist in the next decade
As a zoomer we gladly disown logan paul from our hoard
hey can you please make a video on the citadel/robinhood/gme/amc-debacle please?
I came for the content and I got comedy gold on top
Hey patrick! logan called and he says he want's to represent your generation too! 🤣
Back to basics : It’s a line of code . It has no interest rate . Therefore it has no intrinsic value. Thus cannot be traded properly vs. Fiat . Extrinsic value is based on pump and dump. Usage value is smart contracts and that’s it.
No my generation, YOUR generation. 😂😂
Crypto mining uses a lot of energy how abt banking? banking also use a lot of energy by using servers at thier data center
Central banks end goals is to connect all people directly to them, no more crypto and middle-man banks.
Then a specific mark, from some collection of books.
Crypto has failed as a currency. Imagine one tweet making your upcoming home purchase 20% more expensive.
It isn’t “decentralized” when a few hold most of the coins and can pump and dump them. Plus exchanges centralize it to a degree and are a security concern.
Being “limited” doesn’t give it value. I can copy BTC and make NateCoin that only has 21 million or maybe even only 5 million coins but that doesn’t inherently make it valuable.
Blockchain is the future but that doesn’t mean gambling on coins is. The web was the future too but 99.99% of all DOT COMs ultimately failed.
Thats a funny way of letting everyone know you're ignorant and stupid but you do you I suppose.
You're gonna get a lot of crypto fanboy ire from that one. Blockchain is not the future except as a decentralized spreadsheet for small to (barely) medium sized institutions. It's not scalable and, if it were, would require the entire world's capacity of computing power just to work. Crypto is a blue sky ponzi scheme.
@@Doggieman1111 shh the adults are talking now go back to sitting in the corner quietly and finish shoving crayons up your nose.
@@Doggieman1111 what is the future then? Obviosuly your mum's basement for you
As I said, stupid crypto scam fanboy comments galore
Not my generation your generation😂😂
Absolutely Brilliant Sir... The quality of the delivery and knowledge was as good as it gets... I would join but I can't afford it.
How lucky are we to have access to someone like Patrick for free? Thanks Pat, you’re a champ.
Really interesting video! Keep up the good work :-)
Nonesense
Basically China doesn't like independent crypto because of capital flight (If Chinese citizens are allowed to buy property outside of China as investments, they will). Also US doesn't like it because it threatens it's reserve currency status.
“We can’t just have people… do what they want. How horrid.”
Regulator.
What if the people want to, say, fund terrorism?
@@seneca983 you are making a false dichotomy. It’s not “fund terrorism” or “ban crypto”. You sound ignorant and misinformed when you say that. Regulators just want money. That’s all. To keep their bureaucracy financially healthy.
@@demostheneslastphilosopher639 "you are making a false dichotomy. It’s not “fund terrorism” or “ban crypto”."
I wasn't making such a dichotomy. The original comment in this thread didn't even mention banning crypto.
@@seneca983 your comment implied that dichotomy, otherwise it was a pointless statement. Honestly it was pointless anyway.
@@demostheneslastphilosopher639 The original comment was about regulators not wanting for people to do what they want. I just wanted to raise the point that sometimes that's warranted (and sometimes not) and there can't be an obvious blanket rule. You were the first person in this thread mentioning "banning crypto".
Patrick, sell me the manic bunny please.
I'm here because I support Attorney libayan.
Opportunities doesn't always mean MONEY. ❤️
That info on NFT's was a gem. Now I can see the angle
Serpentza made a good point on a podcast with Tom Nash about this.
He said that Bitcoin is one of the only options people have to move money out of the country, and it being decentralized makes it nearly impossible to ban like this.
Also, the miners give massive kickbacks to the local politicians in China, so it’s not likely they’ll be ready to give up that revenue stream.
Serpentza is a f*cking Western shill! A conman! Goes, stays in China, marries a Chinese doctor, and then leaves China to later badmouth the hand that fed him. F*ck ungrateful bastards! Besides, the Chinese have thousands of ways to move money! They don't need crypto!
@@mobileandroid5299 bro you seem a tad bit agitated , lol
hi Patrick, thank you for your channel! all your videos are really good. i understand that there is one crypto that still is legal in China. it is called Vechain. would be great if you could make a video about it. cheers
For Banks, it is profoundly important to "know your customer" to limit terrorism and fraud.
That is a somewhat optimistic view. Based on the panama and pandora paper, they need to know it so they know who to offer special VIP treatment for offshore money hiding and multi-layer investment structures to avoid the SEC reporting requirements.
For Banks, it is profoundly important to " get their cut." crypto is making them cry.
Pat, much appreciated, cheers!