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Crypto Basic Podcast: Teaching You The Basics of Bitcoin and the World of Cryptocurrency. CryptoBasic

Brent Philbin, Karim Baruque, and Adam "Roothlus" Levy - The Cryptocurrency news nerds

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Crypto Basic Podcast: Teaching You The Basics of Bitcoin and the World of Cryptocurrency. CryptoBasic

Crypto Basic Podcast: Teaching You The Basics of Bitcoin and the World of Cryptocurrency. CryptoBasic

Brent Philbin, Karim Baruque, and Adam "Roothlus" Levy - The Cryptocurrency news nerds

12
Followers
3
Plays
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About Us

The CryptoBasic Podcast is an educational, honest, and entertaining exploration of the fascinating world of cryptocurrencies. Join hosts Brent Philbin, Karim Baruque, and Michael Laake as they explore concepts and cryptos such as Bitcoin, NEO, Ethereum, Litecoin, Blockchain, Cardano and much more. How does Bitcoin actually work? Should I use Coinbase or Bittrex? What in the world is an ICO? Listen to our 101 episodes on each topic for an in-depth, beginner friendly discussion to find out. Join this trio of professional poker players and lifelong friends as they learn, teach, and joke their way into serious crypto knowledge.

Latest Episodes

Episode 246 - Crypto Scams through Tik Tok?

Welcome to the Crypto Basic Podcast! Joining you are Brent "Pump and Dump" Philbin, Adam "The TikToker" Levy, and Karim "You guys are insane" Baruque. Our issue for today is a call to action posted on TikTok, that urges users to invest 25$ in dogecoin en masse, leading to artificial inflation of its price, AKA a pump and dump. We discuss its implications, it's dangers, and what it means for the future of crypto that these kinds of things are now reaching the teen and preteen demographics. Tune in now! Hey Karim, what's the price of Dogecoin?? Dogecoin spikes 1900% in 2 days. Global search interest in “how to buy dogecoin” also skyrocketed from a score of 25 to 100, the highest possible search popularity score, over the past few days, according to 12-month Google Trends data analyzed by CoinDesk. Why is Dogecoin spiking?? Not entirely sure the exact origin of it but a few TIk Tokkers posted a video talking about how if you invest $25 into Dogecoin you get 10k shares. if it goes to $1 we all make $10k. then people started buying it and it actually spiked 20% tuesday. Effect of Tik Tok on crypto. Gen Z is growing up. Do you think they will adopt? Could this be the start of a bull? This could also be the start of another Bitconnect with people getting hurt by a pump and dump. Could be a bunch of Dogecoiners getting together and trying to get the coin to blow up on tik tok. Things can go viral there in a hot second. Videos on videos coming out talking about how Doge is a good investment. For those who don't know, Jackson Palmer, the CEO of Dogecoin, created it as a memecoin bc Coinmarketcap and Doge memes were the two tabs open in his web browser. It has no real use case. Kid influencers ( https://www.reddit.com/r/CryptoCurrency/comments/hnetus/discussing_how_doge_can_reach_1/ ) https://twitter.com/jespow/status/1281021629632352256?s=20

50 MIN2 w ago
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Episode 246 - Crypto Scams through Tik Tok?

Episode 245 - Where are they now?

Welcome to another episode of the Crypto Basic Podcast! Today the gang is doing a self-reflective session on our predictions and critique of various coins and projects throughout the time the podcast has been active. How did we do in making judgments and assumption on projects such as Substratum, Kucoin, Bitcoin Hex, Tether, Divi, Dragonchain and others? Did our scam callouts turn out to be scams? All of the above and more on today's episode of the Crypto Basic Podcast. Coins CryptoBasic called out on previous shows, how did they end up? * Substratum * Episode 1 ( https://www.cryptobasicpodcast.com/home/161 ) * Episode 2 ( https://www.cryptobasicpodcast.com/home/substratum ) * Our position on the? VERY hard scam. We had 3 full episodes and talked a lot of shit with their community. * Subreddit has been dead since 9 months ago. * Highest price point AFTER the 2017 bubble - *$.82* in May of 2018. For reference we released the first episode warning listeners of the scam in November of 2018. * They raised $13M in ICO funds and delivered nada. * They announced that they were seeking private funding in September of 2019, and now it is a completely dead project. * Verdict - WE WERE RIGHT * Kucoin * Episode where we first mentioned Kucoin ( https://www.cryptobasicpodcast.com/home/exchangecoins ) * Our position on them? Lukewarm. Mike really liked them, but I didn't like their pyramid style marketing. I also had some issues with their interface. I never went so far as to call them a scam, but never trusted them with a single cent. We did pull the referral bonus from the shownotes. We called the flags "offwhite" * Hilariously shitty MLM style video. ( https://www.youtube.com/watch?v=VM9NYqzVyWU ) * They're still operational, subreddit is booming, and they're one of the exchanges with name recognition. * Storytime about Kucoin. My first troll. * We did cover some of the red flags over the course of the time after we talked about them. They had some issues with where their location was and they got * Highest price point after the 2017 bubble - $4.99 May 2018 * Current price as of recording - $.81 * Verdict - We were basically wrong here. More risk than a high end exchange, but they're ranked just below Gemini. * Cryptopia ( https://www.cryptopia.co.nz/ ) * Our position on the scam: I wouldn't put my money on the site. Didn't call them an outright scam. * Went down on July 3, 2019. * They're still in liquidation. * People will not be made whole. * Bitcoin Hex * This is an ongoing scam - I want to do a red flags episode which we'll record next week on Bitcoin hex. * Right now, they're still kicking. * What I remember is that Trevon James, a previous Bitconnect shill, was shilling it. * I went to his Youtube. HO LEE SHIT * Some great fucking titles * "5 steps to turn $200 into $200,000 with Cryptocurrency" * Vitalik Sent me $600,000 worth of HEX * How to Make Money with Crypto (holding up stacks of USD cash) * Why HEX can EASILY reach $1 * Hex is up 315% what a scam right? * Verdict - Episode next week. * Tether * Our position - Tether is a scam. It is not backed, and you cannot trust it. * Price - $1 * Price - $1 * Stop using Tether * Tell Story about how easy DAI is * Divi * Episode on the Divi Project ( https://www.cryptobasicpodcast.com/home/divi ) * This was a coin we did a 101 on and Karim and Mike definitely disagreed on the evaluation. Karim didn't call it a scam, he just didn't like the project. Here's what I remember about Karim's negative thoughts - this was the only coin that ever had one of their team members have a rational response to it. * Coin Market cap doesn't have data that far back, oddly, but the earliest they have the price was $.009. per coin b ack in November of 2018. * Today's price - $.04 - a 440% increase * Verdict - Wrong for now, probably eat crow. * 79th in Market Cap * Dragonchain ( https://www.cryptobasicpodcast.com/home/dragonchain ) * Our positoin - Lukewarm again. Karim didn't say it was scam,

61 MIN3 w ago
Comments
Episode 245 - Where are they now?

Episode 244 - Notes on the Federal Reserve

Welcome to the Crypto Basic Podcast! We'd been gone for a little while (blame our editor and his "exams", yeah right) but we're back and this week we're talking about the big ol' Fed, which announced that it will start buying individual corporate bonds. What does that mean for the economy and the banking system? What the hell are SMFCCs and SPVs? And are they sexually transmitted diseases, or do they just sound like that? Tune into today's episode for the answer to this truly profound and engaging question, and many many more. Fed says it is going to start buying individual corporate bonds ( https://www.cnbc.com/2020/06/15/the-fed-says-it-is-going-to-start-buying-individual-corporate-bonds.html ) * *The Federal Reserve said Monday it will start buying individual corporate bonds.* In order to “support market function and eases credit conditions.” they added functions to its *Secondary Market corporate Credit Facility (SMCCF)* SMCCF? - It is a Special Purpose Vehicle launched by the Fed in March * SPV? ( https://www.investopedia.com/terms/s/spv.asp ) - A subsidiary created by a parent company to isolate risk * Basically creates separate company with isolated balance sheet * SPV operations limited to acquiring and financing specific assets * SPV may be created solely to securitize debt so that investors can be assured of repayment. * Can help companies securitize assets, * create joint ventures, * isolate corporate assets, or perform other financial transactions. * Fed is trying to ensure banks continue to lend to corporations * The SMCCF then buys corporate bonds and Bond ETFs, * To encourage lending by ensuring demand for the bonds * But it was only started with bond ETFs…. So lets talk about these functions * So whereas before it was “passively” buying ETFs at fair market value is (metrics and restrictions) * Now it has $750b to buy individual corporate bonds directly (with a maturity of within 5yrs) * This is on top of ETFs in the market * The loans will be tailored to small- and medium-sized companies and can range from $250,000 to $300 million. * Dow went from down 700 to a +157pt spike after announcement * Fed has yet to launch its Primary Market Corporate Credit Facility.

41 MINJUL 4
Comments
Episode 244 - Notes on the Federal Reserve

Episode 243 - Bitmain Coup?

Welcome to the CryptoBasic Podcast! This time around we don't go over a lot of things - we just focus on the basics, the important info, the headlines. Kung Fu, private militias, corporate coups, you know, the good stuff. If this sounds weird to you, tune in to find out what the heck has been going on with Bitmain and how the crypto space can sometimes offer stories and incidents that are truly hollywood-worthy. * What is Bitmain exactly? * Bitmain produces ASIC miners for the Bitcoin Blockchain. The Antminer. Basically the gold standard in mining gear. * They also run Antpool, which is a big mining firm that has a lot of hashpower - but they aren't the biggest. * Remember when we covered this in a flagship? Lets go back over ( https://www.coindesk.com/bitmain-turmoil-co-founder-and-director-micree-zhan-ousted-from-management#:~:text=Bitmain%20Turmoil:%20Co-Founder%20and%20Executive%20Director%20Micree%20Zhan%20Ousted,internal%20email%20sent%20to%20staff. ). * This was back in October 2019. * Jihan Wu sent an e-mail to the entire Bitmain team that said that Ketuan Zhan was dismissed from the company. * Wu was then given the roles of executive director and legal representative. * Then is, Zhan still had 36% of the company in shares, and it wasn't clear what was happing with them. * Zhan then filed a lawsuit in the Cayman islands to try and stop this from happening. * They also filed to go public in the US with the SEC right before all of this. * Zhan wins a victory in April. ( https://www.coindesk.com/ousted-bitmain-co-founder-wins-partial-victory-in-latest-legal-battle ) * So the Bejing District Bureau if Justice actually went ahead and blocked Bitmain's attempt at replacing the legal representative with their current CFO. Even though Jihan Wu was the representative, Bitmain wanted to switch. * This has been in courts since Jan 2. * He was then granted the right to return to his post as legal representative. * When he tried to attend the beaureau to collect his registration, he was surrounded by those loyal to Wu, and his license was grabbed from his hands. * Then shit got physical, details are sparse. * There's now TWO official seals somehow. Zhan wasn't in possession of the real one because it was physically taken from him. I guess in Chinese law the physical seal is pretty important. So there are now two serial numbers and there's dispute as to which one is accurate. * Getting more interesting ( https://www.coindesk.com/bitcoin-mining-bitmain-staff-management-feud ) * So most of the staff was working from home because of the Pandemic * On June 4 Zhan actually sent all employees a notification via wechat that he was back in the office starting the day before, and that they needed to return to the office to work. * There's literally a video out there of Zhan marchingg on the Bitmain offices with armed guards ( https://twitter.com/BlockBeatsChina/status/1268452013139824640 ) * So he used his private guard force to enter the office and has apparently seized control. * He was handing out $10,000 worth of Yuan for anyone that showed up to the office to work with him. * He made a public decree to finish the IPO and have a market cap of over $50M in 5 years. * It looks like Zhan has taken control of the company's Wechat account, and has been posting saying that the "new" seal is the official seal. ( https://mp.weixin.qq.com/s/6fzhGTxBMsV6vQPMgr-WOg ) * Karim's video suggestion ( https://www.youtube.com/watch?v=HeOVbeh2yr0 )

35 MINJUN 19
Comments
Episode 243 - Bitmain Coup?

Episode 242 - US Monetary Outlook

Today the gang's all here, gathered around the fireplace, eating metaphorical marshmallows as papa Karim, our resident economist, busts out the spit facts. We're going over the current economic state of the US, monetary strategies, how they affect economies and trade between them, and much, much more. So, grab a stick, poke a marshmallow and relax while Karim gets them FACTS into your brain. The U.S. Treasury Will Borrow A Record $3 Trillion This Quarter As Stimulus Spending Soars ( https://www.forbes.com/sites/sarahhansen/2020/05/04/the-us-treasury-will-borrow-a-record-3-trillion-this-quarter-as-stimulus-spending-soars/#bc820ba5306c ) * Over last two months Congress has authorized more than $3 Trillion in emergency stimulus * In order to come up with that cash the Treasury will have to issue record breaking amount of debt * Last quarter, the Treasury borrowed about $500 billion, and it plans to borrow another $677 billion in the third quarter. * relatively cheap to borrow with reco...

77 MINJUN 6
Comments
Episode 242 - US Monetary Outlook

Episode 241 - Contact Tracing: A Crypto Solution to the Pandemic?

Welcome to another episode of the Crypto Basic Podcast, where today we’ll be talking about -surprise surprise- the COVID-19 pandemic. It’s not a random commentary episode though, no general rambling, but a discussion on what we think might be a possible solution for the coronavirus crisis: Contact Tracing. Decentralized, blockchain based, anonymous and, as far as the data predicts, VERY effective. Tune in now to learn the ins and outs of it, and how it would revolutionize pandemic management. Relevant Links * NCase.me Website that has the covid playable simulators ( http://ncase.me/covid-19/ ) * Source Code for DP-3T Labs ( https://github.com/DP-3T/documents#decentralized-privacy-preserving-proximity-tracing ) * A website we've referenced on the show before - ncase.me ( http://ncase.me ). * This is a great website and it takes you step by step through the process of epidemiology. Why is the virus acting like it does, what ways could it act if things were different? * You can play ...

47 MINMAY 29
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Episode 241 - Contact Tracing: A Crypto Solution to the Pandemic?

Episode 240 - Could you get paid in Bitcoin to... walk?

_Hello everybody and welcome to another episode of late capitalism, where the labor theory of value is VIOLENTLY becoming obsolete, because now you might be able to get paid in cryptocurrency to perform tasks such as walk, talk, cook (for yourself), throw a tennis ball against the wall, or even just exist. Wow. Tune in to hear the guys talk about sMiles, the weird yet intriguing project that promises all of the above, and find out a couple more unconventional ways to earn crypto on top of that._ * sMiles app will let you earn Bitcoin for simple everyday activities such as walking or playing games. * The app is based on the Lightning Network, Bitcoin's second-level scaling solution. * “sMiles stands for sats&miles. * What is some sort of activity that could really benefit from this type of incentivizing? Cooking? The startup, StandApp, will soon launch SMiles, an app that allows users to earn crypto for performing simple everyday activities. CEO of Shape Igor Berezovsky says he want...

34 MINMAY 23
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Episode 240 - Could you get paid in Bitcoin to... walk?

Episode 239 - The most common crypto noob mistakes

Welcome to the Crypto Basic Podcast! Today the gang is in a talkative mood and goes on tangents on several issues, but we're focusing on some stuff like Brent's BIG crypto mistake (tune in to find out) and what similar mistakes you should look out for, Adam's dating life, post-covid bailouts, cruise ships and more. Press play! It's a good one.

58 MINMAY 19
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Episode 239 - The most common crypto noob mistakes

Episode 238 - Should you trust Binance?

Welcome to the show people! Today the gang assesses a hot topic - a user claimed on reddit that Binance "took" money from him and it blew up. Even CZ commented and got blasted. Also, we take a look at an admittedly cringy article listing the "7 deadly sins of CZ". What a day. Tune in now! Relevant Links: * Reddit user calls out Binance for "accidentally" taking 12061.48 and won't give it back. ( https://www.reddit.com/r/CryptoCurrency/comments/ga027j/binance_accidentally_took_1206148_and_wont_give/ ) * CZ Responds to the reddit user ( https://www.reddit.com/r/CryptoCurrency/comments/ga027j/binance_accidentally_took_1206148_and_wont_give/foyfpeh/ ) * The user posts some so called proof proof ( https://www.reddit.com/user/Wellington20222/comments/gadkvo/cs_ray_i_mean_this_speaks_for_itself/ ) * Some more so called proof ( https://www.reddit.com/user/Wellington20222/comments/gadkvo/cs_ray_i_mean_this_speaks_for_itself/ ) * Another user piggy backs off of the hype and posts "7 Deadly Si...

62 MINMAY 15
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Episode 238 - Should you trust Binance?

Episode 237 - Interview with Nathan Sexer and Sebastien Borget of The Sandbox

Today Adam is joined by Nathan Sexer and Sebastien Borget from The Sandbox, acommunity-driven platform where creators can monetize voxel ASSETS and gaming experiences on the blockchain. Tune in to learn what their goals are, what amazing partnerships they've managed to secure and how they're planning to bring blockchain gaming to the forefront. Check them out over at sandbox.game ( https://www.sandbox.game/en/ ) !

41 MINMAY 12
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Episode 237 - Interview with Nathan Sexer and Sebastien Borget of The Sandbox

Latest Episodes

Episode 246 - Crypto Scams through Tik Tok?

Welcome to the Crypto Basic Podcast! Joining you are Brent "Pump and Dump" Philbin, Adam "The TikToker" Levy, and Karim "You guys are insane" Baruque. Our issue for today is a call to action posted on TikTok, that urges users to invest 25$ in dogecoin en masse, leading to artificial inflation of its price, AKA a pump and dump. We discuss its implications, it's dangers, and what it means for the future of crypto that these kinds of things are now reaching the teen and preteen demographics. Tune in now! Hey Karim, what's the price of Dogecoin?? Dogecoin spikes 1900% in 2 days. Global search interest in “how to buy dogecoin” also skyrocketed from a score of 25 to 100, the highest possible search popularity score, over the past few days, according to 12-month Google Trends data analyzed by CoinDesk. Why is Dogecoin spiking?? Not entirely sure the exact origin of it but a few TIk Tokkers posted a video talking about how if you invest $25 into Dogecoin you get 10k shares. if it goes to $1 we all make $10k. then people started buying it and it actually spiked 20% tuesday. Effect of Tik Tok on crypto. Gen Z is growing up. Do you think they will adopt? Could this be the start of a bull? This could also be the start of another Bitconnect with people getting hurt by a pump and dump. Could be a bunch of Dogecoiners getting together and trying to get the coin to blow up on tik tok. Things can go viral there in a hot second. Videos on videos coming out talking about how Doge is a good investment. For those who don't know, Jackson Palmer, the CEO of Dogecoin, created it as a memecoin bc Coinmarketcap and Doge memes were the two tabs open in his web browser. It has no real use case. Kid influencers ( https://www.reddit.com/r/CryptoCurrency/comments/hnetus/discussing_how_doge_can_reach_1/ ) https://twitter.com/jespow/status/1281021629632352256?s=20

50 MIN2 w ago
Comments
Episode 246 - Crypto Scams through Tik Tok?

Episode 245 - Where are they now?

Welcome to another episode of the Crypto Basic Podcast! Today the gang is doing a self-reflective session on our predictions and critique of various coins and projects throughout the time the podcast has been active. How did we do in making judgments and assumption on projects such as Substratum, Kucoin, Bitcoin Hex, Tether, Divi, Dragonchain and others? Did our scam callouts turn out to be scams? All of the above and more on today's episode of the Crypto Basic Podcast. Coins CryptoBasic called out on previous shows, how did they end up? * Substratum * Episode 1 ( https://www.cryptobasicpodcast.com/home/161 ) * Episode 2 ( https://www.cryptobasicpodcast.com/home/substratum ) * Our position on the? VERY hard scam. We had 3 full episodes and talked a lot of shit with their community. * Subreddit has been dead since 9 months ago. * Highest price point AFTER the 2017 bubble - *$.82* in May of 2018. For reference we released the first episode warning listeners of the scam in November of 2018. * They raised $13M in ICO funds and delivered nada. * They announced that they were seeking private funding in September of 2019, and now it is a completely dead project. * Verdict - WE WERE RIGHT * Kucoin * Episode where we first mentioned Kucoin ( https://www.cryptobasicpodcast.com/home/exchangecoins ) * Our position on them? Lukewarm. Mike really liked them, but I didn't like their pyramid style marketing. I also had some issues with their interface. I never went so far as to call them a scam, but never trusted them with a single cent. We did pull the referral bonus from the shownotes. We called the flags "offwhite" * Hilariously shitty MLM style video. ( https://www.youtube.com/watch?v=VM9NYqzVyWU ) * They're still operational, subreddit is booming, and they're one of the exchanges with name recognition. * Storytime about Kucoin. My first troll. * We did cover some of the red flags over the course of the time after we talked about them. They had some issues with where their location was and they got * Highest price point after the 2017 bubble - $4.99 May 2018 * Current price as of recording - $.81 * Verdict - We were basically wrong here. More risk than a high end exchange, but they're ranked just below Gemini. * Cryptopia ( https://www.cryptopia.co.nz/ ) * Our position on the scam: I wouldn't put my money on the site. Didn't call them an outright scam. * Went down on July 3, 2019. * They're still in liquidation. * People will not be made whole. * Bitcoin Hex * This is an ongoing scam - I want to do a red flags episode which we'll record next week on Bitcoin hex. * Right now, they're still kicking. * What I remember is that Trevon James, a previous Bitconnect shill, was shilling it. * I went to his Youtube. HO LEE SHIT * Some great fucking titles * "5 steps to turn $200 into $200,000 with Cryptocurrency" * Vitalik Sent me $600,000 worth of HEX * How to Make Money with Crypto (holding up stacks of USD cash) * Why HEX can EASILY reach $1 * Hex is up 315% what a scam right? * Verdict - Episode next week. * Tether * Our position - Tether is a scam. It is not backed, and you cannot trust it. * Price - $1 * Price - $1 * Stop using Tether * Tell Story about how easy DAI is * Divi * Episode on the Divi Project ( https://www.cryptobasicpodcast.com/home/divi ) * This was a coin we did a 101 on and Karim and Mike definitely disagreed on the evaluation. Karim didn't call it a scam, he just didn't like the project. Here's what I remember about Karim's negative thoughts - this was the only coin that ever had one of their team members have a rational response to it. * Coin Market cap doesn't have data that far back, oddly, but the earliest they have the price was $.009. per coin b ack in November of 2018. * Today's price - $.04 - a 440% increase * Verdict - Wrong for now, probably eat crow. * 79th in Market Cap * Dragonchain ( https://www.cryptobasicpodcast.com/home/dragonchain ) * Our positoin - Lukewarm again. Karim didn't say it was scam,

61 MIN3 w ago
Comments
Episode 245 - Where are they now?

Episode 244 - Notes on the Federal Reserve

Welcome to the Crypto Basic Podcast! We'd been gone for a little while (blame our editor and his "exams", yeah right) but we're back and this week we're talking about the big ol' Fed, which announced that it will start buying individual corporate bonds. What does that mean for the economy and the banking system? What the hell are SMFCCs and SPVs? And are they sexually transmitted diseases, or do they just sound like that? Tune into today's episode for the answer to this truly profound and engaging question, and many many more. Fed says it is going to start buying individual corporate bonds ( https://www.cnbc.com/2020/06/15/the-fed-says-it-is-going-to-start-buying-individual-corporate-bonds.html ) * *The Federal Reserve said Monday it will start buying individual corporate bonds.* In order to “support market function and eases credit conditions.” they added functions to its *Secondary Market corporate Credit Facility (SMCCF)* SMCCF? - It is a Special Purpose Vehicle launched by the Fed in March * SPV? ( https://www.investopedia.com/terms/s/spv.asp ) - A subsidiary created by a parent company to isolate risk * Basically creates separate company with isolated balance sheet * SPV operations limited to acquiring and financing specific assets * SPV may be created solely to securitize debt so that investors can be assured of repayment. * Can help companies securitize assets, * create joint ventures, * isolate corporate assets, or perform other financial transactions. * Fed is trying to ensure banks continue to lend to corporations * The SMCCF then buys corporate bonds and Bond ETFs, * To encourage lending by ensuring demand for the bonds * But it was only started with bond ETFs…. So lets talk about these functions * So whereas before it was “passively” buying ETFs at fair market value is (metrics and restrictions) * Now it has $750b to buy individual corporate bonds directly (with a maturity of within 5yrs) * This is on top of ETFs in the market * The loans will be tailored to small- and medium-sized companies and can range from $250,000 to $300 million. * Dow went from down 700 to a +157pt spike after announcement * Fed has yet to launch its Primary Market Corporate Credit Facility.

41 MINJUL 4
Comments
Episode 244 - Notes on the Federal Reserve

Episode 243 - Bitmain Coup?

Welcome to the CryptoBasic Podcast! This time around we don't go over a lot of things - we just focus on the basics, the important info, the headlines. Kung Fu, private militias, corporate coups, you know, the good stuff. If this sounds weird to you, tune in to find out what the heck has been going on with Bitmain and how the crypto space can sometimes offer stories and incidents that are truly hollywood-worthy. * What is Bitmain exactly? * Bitmain produces ASIC miners for the Bitcoin Blockchain. The Antminer. Basically the gold standard in mining gear. * They also run Antpool, which is a big mining firm that has a lot of hashpower - but they aren't the biggest. * Remember when we covered this in a flagship? Lets go back over ( https://www.coindesk.com/bitmain-turmoil-co-founder-and-director-micree-zhan-ousted-from-management#:~:text=Bitmain%20Turmoil:%20Co-Founder%20and%20Executive%20Director%20Micree%20Zhan%20Ousted,internal%20email%20sent%20to%20staff. ). * This was back in October 2019. * Jihan Wu sent an e-mail to the entire Bitmain team that said that Ketuan Zhan was dismissed from the company. * Wu was then given the roles of executive director and legal representative. * Then is, Zhan still had 36% of the company in shares, and it wasn't clear what was happing with them. * Zhan then filed a lawsuit in the Cayman islands to try and stop this from happening. * They also filed to go public in the US with the SEC right before all of this. * Zhan wins a victory in April. ( https://www.coindesk.com/ousted-bitmain-co-founder-wins-partial-victory-in-latest-legal-battle ) * So the Bejing District Bureau if Justice actually went ahead and blocked Bitmain's attempt at replacing the legal representative with their current CFO. Even though Jihan Wu was the representative, Bitmain wanted to switch. * This has been in courts since Jan 2. * He was then granted the right to return to his post as legal representative. * When he tried to attend the beaureau to collect his registration, he was surrounded by those loyal to Wu, and his license was grabbed from his hands. * Then shit got physical, details are sparse. * There's now TWO official seals somehow. Zhan wasn't in possession of the real one because it was physically taken from him. I guess in Chinese law the physical seal is pretty important. So there are now two serial numbers and there's dispute as to which one is accurate. * Getting more interesting ( https://www.coindesk.com/bitcoin-mining-bitmain-staff-management-feud ) * So most of the staff was working from home because of the Pandemic * On June 4 Zhan actually sent all employees a notification via wechat that he was back in the office starting the day before, and that they needed to return to the office to work. * There's literally a video out there of Zhan marchingg on the Bitmain offices with armed guards ( https://twitter.com/BlockBeatsChina/status/1268452013139824640 ) * So he used his private guard force to enter the office and has apparently seized control. * He was handing out $10,000 worth of Yuan for anyone that showed up to the office to work with him. * He made a public decree to finish the IPO and have a market cap of over $50M in 5 years. * It looks like Zhan has taken control of the company's Wechat account, and has been posting saying that the "new" seal is the official seal. ( https://mp.weixin.qq.com/s/6fzhGTxBMsV6vQPMgr-WOg ) * Karim's video suggestion ( https://www.youtube.com/watch?v=HeOVbeh2yr0 )

35 MINJUN 19
Comments
Episode 243 - Bitmain Coup?

Episode 242 - US Monetary Outlook

Today the gang's all here, gathered around the fireplace, eating metaphorical marshmallows as papa Karim, our resident economist, busts out the spit facts. We're going over the current economic state of the US, monetary strategies, how they affect economies and trade between them, and much, much more. So, grab a stick, poke a marshmallow and relax while Karim gets them FACTS into your brain. The U.S. Treasury Will Borrow A Record $3 Trillion This Quarter As Stimulus Spending Soars ( https://www.forbes.com/sites/sarahhansen/2020/05/04/the-us-treasury-will-borrow-a-record-3-trillion-this-quarter-as-stimulus-spending-soars/#bc820ba5306c ) * Over last two months Congress has authorized more than $3 Trillion in emergency stimulus * In order to come up with that cash the Treasury will have to issue record breaking amount of debt * Last quarter, the Treasury borrowed about $500 billion, and it plans to borrow another $677 billion in the third quarter. * relatively cheap to borrow with reco...

77 MINJUN 6
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Episode 242 - US Monetary Outlook

Episode 241 - Contact Tracing: A Crypto Solution to the Pandemic?

Welcome to another episode of the Crypto Basic Podcast, where today we’ll be talking about -surprise surprise- the COVID-19 pandemic. It’s not a random commentary episode though, no general rambling, but a discussion on what we think might be a possible solution for the coronavirus crisis: Contact Tracing. Decentralized, blockchain based, anonymous and, as far as the data predicts, VERY effective. Tune in now to learn the ins and outs of it, and how it would revolutionize pandemic management. Relevant Links * NCase.me Website that has the covid playable simulators ( http://ncase.me/covid-19/ ) * Source Code for DP-3T Labs ( https://github.com/DP-3T/documents#decentralized-privacy-preserving-proximity-tracing ) * A website we've referenced on the show before - ncase.me ( http://ncase.me ). * This is a great website and it takes you step by step through the process of epidemiology. Why is the virus acting like it does, what ways could it act if things were different? * You can play ...

47 MINMAY 29
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Episode 241 - Contact Tracing: A Crypto Solution to the Pandemic?

Episode 240 - Could you get paid in Bitcoin to... walk?

_Hello everybody and welcome to another episode of late capitalism, where the labor theory of value is VIOLENTLY becoming obsolete, because now you might be able to get paid in cryptocurrency to perform tasks such as walk, talk, cook (for yourself), throw a tennis ball against the wall, or even just exist. Wow. Tune in to hear the guys talk about sMiles, the weird yet intriguing project that promises all of the above, and find out a couple more unconventional ways to earn crypto on top of that._ * sMiles app will let you earn Bitcoin for simple everyday activities such as walking or playing games. * The app is based on the Lightning Network, Bitcoin's second-level scaling solution. * “sMiles stands for sats&miles. * What is some sort of activity that could really benefit from this type of incentivizing? Cooking? The startup, StandApp, will soon launch SMiles, an app that allows users to earn crypto for performing simple everyday activities. CEO of Shape Igor Berezovsky says he want...

34 MINMAY 23
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Episode 240 - Could you get paid in Bitcoin to... walk?

Episode 239 - The most common crypto noob mistakes

Welcome to the Crypto Basic Podcast! Today the gang is in a talkative mood and goes on tangents on several issues, but we're focusing on some stuff like Brent's BIG crypto mistake (tune in to find out) and what similar mistakes you should look out for, Adam's dating life, post-covid bailouts, cruise ships and more. Press play! It's a good one.

58 MINMAY 19
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Episode 239 - The most common crypto noob mistakes

Episode 238 - Should you trust Binance?

Welcome to the show people! Today the gang assesses a hot topic - a user claimed on reddit that Binance "took" money from him and it blew up. Even CZ commented and got blasted. Also, we take a look at an admittedly cringy article listing the "7 deadly sins of CZ". What a day. Tune in now! Relevant Links: * Reddit user calls out Binance for "accidentally" taking 12061.48 and won't give it back. ( https://www.reddit.com/r/CryptoCurrency/comments/ga027j/binance_accidentally_took_1206148_and_wont_give/ ) * CZ Responds to the reddit user ( https://www.reddit.com/r/CryptoCurrency/comments/ga027j/binance_accidentally_took_1206148_and_wont_give/foyfpeh/ ) * The user posts some so called proof proof ( https://www.reddit.com/user/Wellington20222/comments/gadkvo/cs_ray_i_mean_this_speaks_for_itself/ ) * Some more so called proof ( https://www.reddit.com/user/Wellington20222/comments/gadkvo/cs_ray_i_mean_this_speaks_for_itself/ ) * Another user piggy backs off of the hype and posts "7 Deadly Si...

62 MINMAY 15
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Episode 238 - Should you trust Binance?

Episode 237 - Interview with Nathan Sexer and Sebastien Borget of The Sandbox

Today Adam is joined by Nathan Sexer and Sebastien Borget from The Sandbox, acommunity-driven platform where creators can monetize voxel ASSETS and gaming experiences on the blockchain. Tune in to learn what their goals are, what amazing partnerships they've managed to secure and how they're planning to bring blockchain gaming to the forefront. Check them out over at sandbox.game ( https://www.sandbox.game/en/ ) !

41 MINMAY 12
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Episode 237 - Interview with Nathan Sexer and Sebastien Borget of The Sandbox
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