Crypto: You Won't Believe
A lot of things happening this month of september is one of those months that it reminds me of 2013 when things dropped. Everybody kind of panicked and it kind of just bumped wrong and then all of a sudden it just took off. I think october november is going to see a huge uh increase in crypto right now. Elon musk is talking about the government right now trying to regulate. Also chinas doing a lot of things with crypto right now that theyre uh, not, i dont, think really doing thing things very well for that uh place. You know miners and people that live in in crypto or live in china. I dont think crypto in china is gon na, be very good right now, but im gon na talk about what i think is going to happen with things that are going to happen with the government thats going to happen uh in the united states. What i personally think will happen, and i think its going to be something that could benefit people could benefit. Some people could not benefit others. Now in crypto right now you have uh. You know everything is kind of steady right now, bitcoins right around 42 000 ethereums, like at 2 800. uh, you have um cardano – is about two dollars right now. Everything is kind of just bouncing along for me personally, im investing, you know heavily in btc. I, like bitcoin, i just think its one of those uh coins thats always going to be around its the most decentralized of all the coins.
I do like cardano, i think theyre trying to do some good things with their smart contracts, ethereum and cardano. To me. Right now are one of those uh stable coins or are not stable, but some of those coins that i think are good in the short term, because i think whats going to happen is with bitcoin theyre going to have the layer 2 stable coin on there. Theyre going to have a lot more layer, layer, 2, stuff thats, going to happen on side of bitcoin, which i think is going to be a lot more stable than a lot of what ethereums doing some of the things that ethereums doing is just crazy. Some of the things that that cardano doing is just i i its crazy right now, some of the gas prices and all that so i think its its just going to be temporary with some of these coins and then itll happen to uh big. I think bitcoin is going to really kind of take off and kind of be the leader which it has been for a long time, but for right now, bitcoins been kind of slower. So a lot of these other coins are trying to step in and do a lot of d5 things uh, but i think coin bitcoin is going to be the leader in the long run. So recently, elon musk said its not possible to destroy crypto, but governments can slow it down. So one of the things governments can well the one thing that governments cant do.
Is they cant stop crypto its just going to happen? Its decentralized, especially bitcoin, is decentralized. Theres theres, 100, thousands or plus nodes around the world theres a lot of private nodes, nobodys knows about, then you have all the miners so slowing it down could be a possibility. One of the things that governments going to start to do, i believe, is going to start to slow down some of the exchanges. I dont think theyre going to come out and just ban it itd be dumb theyre, seeing whats happening in china right now. They tried to ban the miners in china and all the miners took off and went to other places around the world and the mining just continued to go on. Bitcoin is a worldwide uh crypto, its not just centered in the us, its not just centered in china. Its a worldwide crypto, and so i think that elon musk is right about governments being able to not destroy it, but they can slow it down and they can give a lot of problems to the exchanges, because, right now what happened is the u.s government has monopoly On the money they have the fiat printer right now they can print as much money as they want and they can print endless amounts of fiat currencies and theyre doing that. Right now the treasury is already theyve already. Oh man, it was like 40 of all. The money was created in the last two years, thats just an insane amount of money and that all that fiat is going out and its raising prices all over the place.
Youve got food prices, home prices. Everything is becoming uh in the inflation is just absolutely insane, so what crypto is going to be doing is competing with that fiat governments going to have to step in and theyre going to have to be more responsible with the fiat or theyre going to have to Be coming out with their own cryptocurrencies, which i think is not going to not going to happen, but theyre going to try to figure out a way to either ban it or theyre, going to try to figure out a way to slow it down and so chinas. Having a lot of problems with these miners, chinas coming in and theyre banning everything, theyre theyre trying to ban get the miners out of there. In fact, ethereum says another major ethereum mining pool has shut down due to china crypto ban. So this is b pool, spark pool, alibaba and binance have all responded: chinas crypto crackdown, so another ethereum mining pool. These are mining pools that people would take some of their smaller rigs and they would connect to a mining pool and that mining pool would allow that smaller rig to pick up some of the gains. Well, it looks like ethereum is going to be another pool, thats. Shutting down now this is not an end ethereum its not ended to crypto or bitcoin, because what happened is the miners will just take that those mining equipment and go somewhere else and in fact a lot of them are going to like texas right now.
A lot of the uh other asian places that allows crypto theyre going to be moving there. So its really just, i think, its just kind of an in inconveniences for a lot of these crypto miners to have to move their crypto mining equipment. Another thing chinas doing is: it says: china, crypto investors, block from coin gecko trading view so coin, market cap and coin gecko. These are the two big places that you can go and you can find out about crypto what the crypto prices are. I mean its just a website that gives the prices of crypto well. China says uh, they dont like them. They dont like trading view trading view, is a great place to go and and trade your cryptocurrencies, you can go there and find out prices. So this is a great place to go, but china is saying were going to ban that and thats one of the things governments going to try to do. I think a lot of the governments around the world that see that their fiat currencies is being tested. Its being competitive with theyre going to be able to theyre going to have to start thinking. Well, what are we going to do were going to try to ban it were going to try to close it down? Well, they wont be able to ban, they wont, be able to close it down, because a lot of the u.s senators are going to look at what chinas doing and theyre going to see.
Well, chinas not able to ban it theyre because all the miners are just going to leave and go somewhere else. In fact, if if u.s came out and said all mining equipment or all miners in the u.s is illegal, all the miners would do is pick up their equipment ship it to somewhere else. Thats allowed to to start mining, i mean maybe theyll, send it to el salvador. Maybe el salvador or some of these latin american countries will be the new place to pick up their mining equipment and go there and then be able to start mining again in a place that allows crypto mining. So one of the senators uh theyre going to launch this uh this theyre going to launch this bill now with a lot of these senators that are scared of the crypto industry. They introduce these bills to try to maybe get some traction, try to get it passed. Now, introducing a bill does not mean its a bill: thats passed. It still has to go through congress and to vote on it, but a lot of these big bills like these. This big infrastructure bill this 3.5 trillion dollar infrastructure bill. That looks like its probably going to get passed now. What happens is a lot of times in those bills, nancy pelosi and whoever theyll try to sneak in these other crypto type things that arent really good for the crypto industry, but again theyre not going to be able to ban it.
They might be able to slow it down a little bit but ultimately ban. It would wouldnt be the case, but these this new bill says senator maggie hassan and senator uh. Joni ernst are introducing a bipartisan bill to improve oversight of foreign crypto mining operations. The bill required the treasury department to report on congress on how cryptocurrencies are being used and mined in foreign nations, including how they impact supply chains technologies like semiconductors. So, in order to strengthen u.s competitiveness, our government must get a better handle on the role that cryptocurrency is playing in the global economy and how is being leveraged by other countries. This is what senator hansen had said to me. If the government wants to really want to step up, they should say you know what lets put some uh bitcoin or some other crypto into our treasury and lets start to be competitive around the world thats the only way theyre going to be competitive and right now, El salvador is the only country that actually is showing a road map for what government should be doing and that is taking their currencies and making bitcoin their ultimate. Uh cryptocurrency government should come out and say: lets have bitcoin, be the ultimate cryptocurrency or ultimate currency. In the united states that would be a huge advance. It would send a message throughout the world. I dont think thats going to happen because the federal reserve will not let that happen, and this is all about crypto right now.
So if you, you know, if you havent jumped into bitcoin, do go to places like um, you can go to blue wallet, you can go to uh gemini. You can go to coinbase places like that. That allows you to pick up crypto pick up some crypto for yourself. A lot of the good wallets that i use. I, like blue wallet, its a really good wallet. Um exodus is another great wallet. Uh also pick up a ledger: ledger wallet, its gon na be a hardware wallet, and that way you can pick up your own crypto, but do pick up some. You dont have to buy a whole full bitcoin bitcoins, forty one thousand dollars for one bitcoin. You can buy a hundred dollars worth of bitcoin, so just go to gemini drop some money in there and then you can uh pick up some some crypto and then take that gemini once it clears your account at gemini. Take it move it to another hardware: wallet like ledger, or even a blue wallet, uh, just move it off gemini.