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“Guys. What is going on kevin kage back with another cryptocurrency video hope all is is well this evening today is may 28th where i m at in the united. So i m gonna go be going over a few points and big things that happened in the month of may going over some details that i think were missed in some videos and just for people to kind of come here for an all in one stop and before we get started be sure to hit that like button. If you like what you see and subscribe.
If you haven t already i do want to cover this briefly this has been pretty controversial awake at mister level up on twitter has been saying that he s learned the algorithm that extra p moves in and he s made some pretty bold predictions super positive guy well spoken and i want to give him the benefit of the doubt um he s you know extremely positive and again guys this is not financial advice please please please make your you know own decisions into your own research do not invest based off what anyone says on youtube or on twitter. But i am simply just watching i m not buying more because of what he said. I m not selling i m just holding and i want to see his predictions so he says that we re gonna be seeing. According to the algorithm the pattern that we re gonna see a big drop off again maybe uh 38 cents 36 cents maybe even just down to 40 and what he s saying is then then it ll start to grow.
So he says he s waiting for it to happen. Within the next 24 hours. But should be any of the next candles coming shortly. And he believes that we ll be rewarded at any moment for the activity to turn up after that drop.
He s waiting for that first fall and we can start talking about the next moves until then he has nothing to share at the moment. So i m rooting for him. I would love to see a price jump. If not that is fine with me we are waiting for utility to kick this in so.
I just think it s difficult to try to make a call on an algorithm. But maybe there is a pattern that does exist and maybe it exists with or without utility. So i have an open mind. And i m not gonna belittle someone or talk bad about someone online like a lot of trolls have been so if he s wrong oh well.
But if he s right that is huge and congratulations so hoping for the best. But right here with this extra p community blog by yours truly hodor definite follow one of the best writers in the extra peat community for great summaries i want to go over a few points here so ripple news on may 20th ripples vp of strategic accounts. Was elected to a new payment. Industry organization formed to advance the development of the us payments infrastructure called the us faster payments council fpc right here the fpc is an industry group and they ve stated that part of their mission on their earth.
They ve stated part of their mission on their official website..
Do you want a hand in shaping the future of the nations payment system the us faster payments council is a new membership organization established so americans can safely and securely pay anyone anywhere at any time. And with near immediate funds. Availability. Pretty intense were finally sharing money the same way we share data.
Today. Instantaneously fpc. Members used private sector approaches to address issues that inhibit adoption of faster payments and enable end users to reach each other in ways as seamless and transparent to them as mobile texting true iove. The internet of value is coming next part.
I want to cover in this recode pot podcast to the ceo of ripple. Brad garlin. House bg. Had a presentation with the appearance on a popular podcast with kara swisher and she just covers you know various topics in silicon valley.
And he has some great quotes and it s just an hour long podcast and hodor actually was able to just get some of his favorite quotes and i do want to cover them. I know we ve heard these. But we need this reminder in this bear market and in my opinion. I don t care.
I m not a huge ta guy. But i m considering it a bear market until we re seeing constant growth. None of these little retracements and we have some strong volume. Just like 2017 so that s what i m considering.
I m very very. Picky. Right. Here brett garlin house.
A culture that encourages risks and tolerates failure..
Is i think a culture that will yield innovation bitcoin alone represents almost 1 of global power consumption. I m sorry guys for those of you that want bitcoin to be you know become the standard or you know worth 1 million dollars per token. I personally don t i think that we re consuming enough power in the world today and i think that there s a lot of other health coins that can do the trick and be a lot more efficient as well along with you know efficiency scalability speed you name it there s just a lot more utility and i don t think it ll damage the environment to the same degree right here the population that is currently paying the cross border remittance costs. India.
Southeast asia are the ones that can least afford it we are trying to aim to help this multi trillion dollar problem to help banks of course. But it s going to be helping people in these you know the mexican corridors in the philippines actually make payments to their families and again. We want to emphasize we want to change the system by working with the system. It s not a battle we re not trying to take over we re trying to integrate ourselves to improve the existing legacy systems today and what i m saying is it might not be overnight.
But this is going to happen we re working with regulators all right right here last. Few quotes and these are very good so on the topic of technology adoption here we go first from some of the top banks. There s a small number of oligopoly of what we call money center. Banks.
They are the global banks that make money so citibank made about 8 billion last year from other banks wells fargo. Is not considered a tier one money center bank. So it turns out 90 of banks love what we re doing because we re democratizing something that s controlled by a small number of banks their competitors. So it s making a level playing field keyword level playing field because they have the most equity they ve pre funded around the world citi deutsche bank jp m.
Jp morgan of course who does not like cryptocurrency um jamie dimon. Now these are the big kind of money center. Banks that other banks use and that would be you know hitting their profits for the most part. But you can argue that it s gonna be saving them tons of money by freeing the storming capital.
So there s a win win for everybody and to some people just don t want to change right. Here coil news. So as we know of course coil. So aws amazon web services was sponsoring different events throughout the areas.
And there are all kinds of aws stakeholders that could meet up and discuss different applications with industry experts and the cool thing was we had stephane thomas..
The ceo of coil of course. He used to be ripple. Cto and then we actually have the ceo of omni. Thomas mcleod and they ve both constructed businesses that run on exer p.
In very unique ways. We already know that coil settles its micro payments to content providers and omni for i know a lot of you already know it makes payments to their renters. So it s really you know renting out your assets and receiving payment in xrp. Just another applicable use and i just find it really interesting so they re just talking about using blockchain for payments.
And honestly just had the stage and had a great conversation so the videos right here. If you want to check that out and there is something i wanted to cover um. So right here so they go again. And i believe stephane thomas.
The former cto of ripple is actually talking about this and let s see so he goes right here. He also touched on why it s important for him to help out with mojo loop. Which is the bill and melinda gates foundation platform for mobile payments. That was built to help include currently unbanked populations of the world in the global economic infrastructure.
So stephane thomas goes on to say i get a lot of questions as to why we are involved in this project. Mojo loop is a project to improve financial access in poorer countries. It basically makes it possible for everyone to have access to digital financial services and the reason that s important is because it s very expensive to use cash and you don t really think about that. But you know you have the risk of getting mugged.
You have you have the risk that someone will take it from you you have the risk that you lose it especially in these poorer countries. Where people have to fight to even find water so digital financial services by removing a lot of friction to give you access to a lot of benefits and then of course you know anything that s online. You can t use cash so you need digital financial services to invest or participate in online commerce and as we know ecommerce is growing and growing and growing hence. The stock price of amazon.
The past 20 years..
And so one of the big things holding that back today is a lack of interoperability. So this is probably the biggest keyword you ll hear in the industry when it comes to blockchain dlt distributed ledger technology essentially just large databases with public ledger s that can record transactions and are immutable and public and by creating interoperability. You create a certain competition and you open up the market reduce costs for merchants. Who no longer have to molt who no longer have have to have multiple phones to support the multiple different payment options and that s where the basic idea of mojo loop comes from very very cool next up already covered that and right here i covered this in a previous video.
But there s just a little more to share with cava news um with kala labs. So they have the switch lightning fast non custodial crippled trading for a lot of the top cryptocurrency bitcoin aetherium and xr p. So the service is called switch and cava is describing it as a noncustodial since users do not send them the actual cryptocurrency. The entire platform essentially is just an easy way to use entry ledger to stream payments from one crypto network to another so right here switch side steps the problems of traditional decentralized exchanges dex s by employing a novel solution streaming micro payments.
Which work by moving little bits of value piece by piece until an entire payment or trade is complete so it s just many many many trades. Until the entire trade is complete itself so a very cool idea with these micro payments streaming micro payments. Enables lightning fast swaps interoperability across blockchains and complete self custody of assets so no one needs. No one else needs to custody those assets.
Which is great load funds under cards and swap between them in withdraw at your leisure. Only you have access to these funds even wealth trading that s great i think we re gonna see a bunch of more you know a bunch more evolution and innovation in terms of this and this is just the beginning so the switch by cava labs very very cool idea using the inter ledger protocol and finishing it off here pay with x or p. So if you ve been on twitter. There s a new fan account titled and it s at pay with x or pico.
Give them a follow and the account represents more than one person and a small team that s been put together where businesses can voluntarily register. So that they can accept xar p. As payment pretty cool. But that s all i have for you guys today be sure to hit that like button comment down below any thoughts that you want me to cover or anything that i may have gotten incorrect and again go give hodor a thanks and shoot him a tip.
I don t want anything from you guys but go give hodor a tip on twitter chicken guys appreciate your time and all next video coming for you guys shortly ” ..
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