Ep. 53: Future Crypto Crackdowns Solana & Ethereum DEXs
My name is toby. My name is heidi and we are on episode 53 of our patreon member questions or ama questions uh sent to us by our patreon members. So if you want to check us out on patreon, you want to get trade alerts. You want to get portfolio updates classes. If you want to submit your questions check it check out the link below in the description so lets get into it. Okay, so first question: if someone knows your wallet address for, say bitcoin on your ledger, can they tell that address is on a ledger? Can they id any other address or coins that are stored on that same ledger, thanks um short answer, no um, the only thing that they know about that address. The only thing that they know about that public address is that it is a bitcoin address and if you have a balance in it, they can see how many bitcoin are in it. How many bitcoin have ever been in it uh, where youre sending them to where youre receiving them from, but they dont know that it is a ledger wallet. They dont know that its an exchange wallet the only way they can tell that is if there is a pattern of your activity and they can link it in that way. For example, if you publish it online, say hey, this is my ledger. Address theyre going to know thats your ledger, but also can they id any other addresses or coins that are stored on that same ledger? No, because these are completely different.
Blockchains um, the ledger. Hardware wallet is a wallet that allows you to interact with many different blockchains and coins um, and so just because you have uh, someone can see that your bitcoin public address. They have no idea, just by that address of anything else, thats being stored on your ledger. Its all compartmentalized and separated for that so uh yeah, which is great yeah. It is great because that would be really inconvenient and really uh invasive. If people could tell everything youre storing on your ledger, based on one public, address next question hypothetically in the event of a sudden clampdown in the u.s that might not be so hypothetical, definitely not going to be a hypothetical in the sudden event of a clampdown in The u.s on centralized exchanges, what options would you work from behind this new iron curtain? Would we be limited to peer to peer transactions only with services like bisc? How would you solve that problem if you were stuck here and needed to transfer fiat quickly? Well, i mean you can use decentralized exchange theres a lot of decentralized exchanges out there. Right now i mean ranging from ethereum decentralized exchanges like uh, one inch uniswap to solana, decentralized exchanges like radium uh to quick, swap polygon um. I think avalanche has like trader joes, Music, decentralized exchange, so theres, so many other options. Now that you can, you can use and so theres really yeah. So let me just encourage you guys.
Take your coins off exchanges, yeah, like if youre worried about this. Take. Take your coins off exchanges, if, if you dont want to put your kyc in like it probably is too late for you now but like if you can right now work towards that, you know what i mean so thats, probably the safest bet. Then you can manage decentralized exchanges from there and bisque if youre talking also about having to deal with your fiat into crypto, and if you can do that without kyc. Bisque bisq is one that ive been talking about for a while thats, a pretty good decentralized exchange for that um. Also, another option is this decentralized exchange called huddle huddle, h, o d, l, h, o d l.com and since whoever asked us you are in the patreon uh group, you can check out the crypto life hacks category its available to you on the home screen of the Website patreon.com crypto tips, login theres, a bunch of categories there at the top of the home page like classes, portfolio updates trade alerts, but crypt crypto life, hacks theres, the article there talking about uh using crypto anonymously and different kyc free platforms, um so yeah. If youre trying to but also lets lets, go this whole the whole way right. Um the us has clamped down on centralized exchanges, probably at that point they can do so because they also have their own central bank. Digital currency initiated lets say that you know they go the way of china and they dont allow that central bank digital currency to be listed on any other exchanges, maybe its so close source that decentralized exchanges cant work with it either.
I kind of i im doubtful that it would get to that point, but there might be these two different worlds of crypto and your government issued currency so thats. Why were always stacking stats were always stacking bitcoin because you know not only just the long term value and price appreciation, but also the tool that it is and the fact that we can use it to interact with our value in a very free way. Maybe youre going to be in the u.s or in a country that has a central bank, digital currency. You can only pay for things in that you can only get paid in that you can pay your taxes in it, pay for property and things in the central bank, digital currency uh, but you cant buy crypto with it, so thats something a lot of people. I think are going to be slow to waking up to, but its going to be a rude awakening when that happens, if it does its a slippery, its a slippery slope and its definitely not out of out of the picture. In my opinion, this will definitely happen. Yeah and – and you know, you know where uh cbdcs will go. Uh chyna is pretty much the poster boy for that, so, in other words like, for instance, they have a expiration date on your cbdc, so they can literally turn off your your money, uh or your currency. I should say its not money and if artificially in, if well yeah, if youre, not a good citizen or if you um, if you if they need to spurt the economy up again, yeah exactly artificially like hey, you got to spend your money today.
This is the last day your moneys worth anything. Your currency is worth and then, however long, however many years you spent saving that currency, you have to piss it away on stuff that you probably dont need that you wouldnt want to buy anyway, because they decided that you need to spend your money yeah yeah. So the five eyes will definitely do that. So you have the us, canada, australia, new zealand, great britain, uk yeah, so that they will definitely go ahead and implement that and they will be really harsh on you guys because they have the infrastructure to go ahead and carry that out. Whereas a lot of other countries do not um, they were, they are slower to to carry that out. So yeah yeah just be careful. If youre in one of those countries um yeah the craps about to hit the fan yeah really soon, i think but but when it comes to transacting in cryptocurrencies, crypto to crypto payments peer to peer payments in a decentralized manner, thats what this space was created. For that is what this space is: building towards, to be more user friendly to be more interoperable with other coins and, thank goodness its its developing and it exists. Because can you imagine if we didnt have something like this uh for you to interact with and and transact with, and you were forced to only use that fiat system bummer? Thank god. We have this freedom tool, yeah freedom tool, uh ooh, t shirt, t shirt.
So many t shirt ideas, um, so yeah, oh wait. What was i gon na say this guy wants to talk about bitcoin hes shown it from the from the treetops he wants it. He shots at five. Five am im like oh my gosh. If we could all be that energetic in the morning, oh yeah wake up its beautiful anyways thats gon na wrap it up for todays episode. Thank you everyone for tuning in. If you appreciate these videos, if you like these amas hit, the like button, hit subscribe to get your daily fix of all things crypto, you guys remember that catch phrase. From back when i first launched this 2016.