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The Breakdown

Crypto Daily 3@3 - 7.11 | Comply or Die Token Sales | Turkey and CBDCs | Crypto Startup Studio

The Breakdown

Blockworks

Investing, Business

4.8786 Ratings

🗓️ 11 July 2019

⏱️ 13 minutes

🧾️ Download transcript

Summary

On this episode, we discuss: 1) Reg A+ compliant token sales from Blockstack and YouNow and why it's becoming comply or die; 2) Turkey planning a central bank digital currency and how the crypto market is trifurcating; 3) IDEO's new crypto startup lab.  Follow on Twitter: @nlw Watch the video version on YouTube: https://youtube.com/nathanielwhittemorecrypto

Transcript

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0:00.0

Check, check. All right, let's do this.

0:04.0

So I got a little something weird today.

0:07.0

Welcome back, everyone. Hello again. So a few things.

0:11.0

First, audio should be a little bit better than yesterday.

0:15.0

Yesterday was kind of tweaky. I think we've got some of the settings fixed, so hopefully this works better.

0:20.0

We'll keep trying to perfect it.

0:22.2

Two, Twitter is down right now.

0:24.6

Like seriously down, entirely down, down, down, down, down, down.

0:28.1

So I'm actually recording this and I'm going to just push it live later.

0:31.5

So sorry for anyone who's commenting.

0:33.1

Maybe I'll try to hang out in the comments when this is going on. Three, I'm going to try to do something each day where I do a little bit of a recap if

0:40.3

there's any relevant news from the day before. So yesterday we talked a little bit about

0:45.3

Libra going to Washington and how that kind of regulatory political work has now begun.

0:51.3

And so we got more color about Jerome Powell, the Fed Chair's

0:56.4

testimony. And it was interesting. They asked him directly if a cryptocurrency were to become

1:03.1

prevalent throughout the globe, would that diminish or remove the need for reserve currency?

1:07.1

And this is Alex Kruger, Kruger Macro. For those of you don't know, was quoting Powell, things like that are possible, but we haven't seen widespread adoption. If we do see it, you could return, you could see a return to an era in the United States where we had many different currencies in the so-called national banking era. Pretty interesting, right? And then the kicker, this is the one that I think got people most excited, almost no one uses Bitcoin for payments.

1:28.4

They use it more as an alternative to gold. It's a speculative store of value like gold.

1:32.6

So that narrative is clearly hitting. And I think there's a lot you can argue that that's a good

1:37.7

thing when it comes to whether how Bitcoin is insulated from maybe regulatory intrigue. So that's pretty cool. We're

1:45.5

going to keep an eye on that, but let's move on to the three at three today. And we are starting

1:52.9

with pretty big news from the world of compliant token sales. So Blockstack announced last night that had received the first ever

...

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