My name is ben every day on this channel ill. Show you how to make money crypto, if you like money in crypto, then make sure to hit that subscribe. Button coming to you today from las vegas, look at that terrible lighting behind me. I cant even tell theres a whole city underneath there welcome uh had our beat up last night. It went phenomenal. We had about 500 people here at the venetian. I love the venetians where i always stay got a host here. Dimitri always hooks me up uh, so im here for the weekend hanging out starting the world series of poker tomorrow morning and the main event gon na be playing there. So, just a little update on whats going on here met a lot of cool people last night at the meetup we love doing those events check out instagram to see some ridiculous pictures of me wearing a gucci track suit. Okay, guys, i want to talk about this. This is what i want to talk about today is bitcoin dead is defy dead. This is the word on the street guys. This is the word on the street that right now regulation is coming in in the infrastructure bill. There were eight words in that infrastructure bill that were changed and elio is telling you it could be the worst thing in the history of mankind whats your notes. Maybe it could be um. We have melton damires on on twitter talking about um how this is un american, what slipped into this infrastructure bill.

So what was it that that sneaked in that snuck in sneak or snuck or snooked? I dont know whatever it is basically what it was, and we talked about this infrastructure bill for a long time about how the broker language in it is very broad and people are worried about. It was a bunch of hoopla over nothing, but this this could actually be something. This would be something that maybe we should be a little concerned about. I i honestly, i dont think so. Im gon na give my reasons at the end why i dont think we should be that concerned about it. But here is what theyre saying at first: it might seem like a good thing: theyre now considering crypto, to be cash theyre, considering crypto on the same level as cash. Now, if somebody gives you 10 000 in cash, what do you have to do? You have to report that on your taxes, but not only do you have to report that you received it, you have to get the persons name their address, their social security number, their corporate id number uh their ein whatever it is. You are responsible for coming up with all that information now lets move that over to crypto. How does that work in crypto? Well, if somebody sends you ten thousand dollars in crypto its not that hard, you know the person, but what about decentralized finance? What about these protocols that are set up for you not to receive the persons information, because it is decentralized and it is private, and the argument is that this is going to put uh.

You know crypto users in jeopardy uh, because not only do you have to report it its a criminal offense, if you dont report it, if you try to hide ten thousand dollar transactions, its not just bad on your taxes, its a criminal offense. So is this something were going to see in crypto to where this is considered to be criminal? If you cant get the information from someone youre youre doing a decentralized transaction with, then could you actually be liable for this, and you know that look. There is a certain responsibility of people in crypto and i think this is what elio was really trying to do. Uh great friend of the channel, by the way we love elio um, you know what he was really trying to do was let you guys know. This is here, let you guys know give you awareness that this is coming, and this is not good meltdown, demears whats. She doing same thing. What what did was brian armstrong, saying uh. You know at the end of last year about the steve mnuchin stuff he was making a big stink about it. Are they really going to change anything? No, but what theyre trying to do is let you know. These are the kinds of things that the the politicians are are trying to sneak past. You theyre trying to sneak past theyre, trying to see how much they can get away with. They want to treat it as cash, but but heres the thing we are moving very rapidly towards a changing world.

When it comes to money, economy, taxes, digitalization borders, remittances, its a different world, these archaic rules and laws that are being made and slipped in they will not be enforceable. Now you could make the argument. This is kind of how the banks like fight against d5. The thing about devi is, you know, i think, maybe its from the the matrix, maybe where neo or morpheus talk about like an idea. How you cant stop an idea, and an idea is, is the thing that man fears more than anything, because when an idea sprouts, you cant stop it. It will only go as far as the people. Thinking of the idea push it thats decentralized, finance, decentralized, finance. It cannot be stopped now that the idea is there and people understand it. They can try to stop it its like kudzu, it will grow and grow and grow and the more they try to stomp it out and thats. What makes ideas so hard is because the more you try to stomp them out the and weve seen this with bitcoin the more fervent the people behind them become. You cannot stop decentralized finance. You cannot stop bitcoin because not stop crypto, so you could say this would be a last ditch effort from maybe the banks or the politicians who were in the pockets of the banks. Maybe to stop defy bank of america said they werent worried about bitcoin thats like worried. All right, theyre not worried about bitcoin theyre worried about defy, but that doesnt mean they can stop it.

What these institutions and these powerful people at the top what they want is they want to buy themselves time to get a bigger stake and more control in the economy of crypto, so thats. What a lot of this stuff is. It is meant to scare you its meant to make you believe the future. You know crypto has no future, but none of this is true. We all know this weve seen the rapid progression weve seen in china, where they banned crypto and they turned around and said. Uh, we actually think that was a terrible idea. Why? Because they realized they cant, actually ban crypto. They cant actually ban crypto mining. They can do their best, they can try, they can make it harder they make on and off ramps harder to get in and out of crypto, but they cannot stop it, its literally impossible, its decentralized by its very nature, its impossible. So now, if the government were to attack uh your or your criminality, with your with the irs with taxes, this is what people are scared of. I know people are terrified of the irs, like you mention irs, im like, oh god, oh god just pay your taxes. You know like just pay your taxes and do what youre supposed to do, and you wont get in trouble and thats what we always encourage people to do on this channel. But you know theres no reason really for you to be terrified of the irs unless youre doing stuff that you shouldnt be doing if youre complying.

They dont have time to really to really go after you, and so you know what were already seeing with crypto. Is that the irs has already bitten off way more, they can chew when it comes to uh. You know trying to to to get people to pay back taxes for crypto its already a bigger thing. Theyve had to hire so many more people to try to go over that stuff and at the end of the day, this is not going to be enforceable thats. Why im not worried about this were moving brian armstrong suggested this uncle brian. Now i will say i suggested this for much longer than uncle brian has um but uh. You know we need a separate commission for crypto. The the sec is not going to cut it. The cftc is not going to cut it. We need a different commission set up just for digital assets and i think thats, why a lot of the laws that youre seeing right now in a lot of the language, its not even going to matter in three to four years, because theyre going to have to Have it their own commission and then that commission will be the ones to make the rules and thats when we should start paying attention? But you know just like with the broker stuff that was in the infrastructure bill, its not enforceable, the the the enforcing body of that, which i i think i cant even remember who it is supposed to enforce that broker language.

So i can drop it in the chat they already said were not going to enforce it like that, like we cant, we cant enforce it the way that its written – and they know that so, even though it went in the bill without language it wasnt getting enforced. This is going to be the same thing, its just posturing, so should people be alarmed about this? No, you should not be alarmed about this at all. Should you be aware that this is taking place that way we are able to hold people accountable and politicians accountable. So it doesnt, you know, hit a runway and take off. Yes, you need to be aware. You need to do your proper, due diligence. You need to contact your congressman or your senator. I actually dont think that stuff matters to be honest with you all that matters is how much of an uproar the crypto community makes about stuff like this. So what a lot of these people try to do? Is they try to get out of their brain? So its really bad about this, they get out there. They just try to stoke a fire that raises awareness towards these types of things happening. So no cryptos, not over devi is not dead. Bitcoin is fine. Crypto is fine. Next week were gon na see bitcoin, hopefully start moving up uh. You know, as we had closer to 80 to 90 to 100 000 in the month of november.

You know, hopefully with the bluff top somewhere in the first week or two of december thats. What im? Looking for a lot of analysts are saying they believe this is coming all right, guys, thats, all i got for today. I know it was like kind of a philosophical video today talking about politics a little bit and the politics of crypto drop your comments down below and let me know what you think are you scared of this thats? All i got be blessed.

https://www.youtube.com/watch?v=vaGQ4719BEI