Episode 166 - CRYPTO Movie, and some more fun stuff.

- Rapid Fire - [Stellar (XLM) Listed on Coinbase pro](https://www.coindesk.com/stellar-lumens-is-about-to-begin-trading-on-coinbase-pro) - [Someone posted on reddit that the sites CrashDoge, CrashingBitcoin, and CrashingCrypto are scams](https://www.reddit.com/r/CryptoCurrency/comments/azh66t/crashdoge_crashingbitcoin_and_crashingcrypto_are/)...WOW that was a hard one to figure out. Also they are run but someone named HERPES. - [You actually can earn BAT now on the developer Brave Browser](https://brave.com/ad-platform-enters-second-phase/), we incorrectly reported you could before. - [OneCoin leader arrested for scamming in the US.](https://www.coindesk.com/a-multibillion-dollar-cryptocurrency-based-on-lies-us-arrests-alleged-onecoin-leader) - [This Stupid Ass Movie](https://www.youtube.com/watch?v=kYZut3DWvek&t=10s) - Shoutout @anthony in the CB Discord. [https://www.youtube.com/watch?v=kYZut3DWvek](https://www.youtube.com/watch?v=kYZut3DWvek) - [The NEO Blockchain was DOWN for over an hour.](https://www.reddit.com/r/CryptoCurrency/comments/azfiuz/the_neo_blockchain_is_down_for_over_1_hour/) (BULLISH OR BULLSHIT) - Brent - This was because of ONE node. - Obviously the response was "centralized POS" - But, this is what we're supposed to get. - The way their consensus works is that if they do have a downed node, they keep trying until they get consensus. If they don't get it, they try 15 seconds later, then 30, then 60, then 120, then 240 etc. - They is actually based on probability - once a node goes down this starts firing and most of the time it happens on the first try, but it COULD go as high as 10 retrys in a very unlucky scenario which would be over 4 hours. - NEO is still centralized, and that's part of your tradeoff. - [Binance adding Ripple to their Trust Wallet. Also, credit card support available.](https://decryptmedia.com/5841/binance-trust-wallet-xrp-credit-card) Brent - Their trust wallet is similar to other offerings by coinbase, ENJ, etc. It's in the app store. - They have plans for web, desktop, and hardware wallets. - There's a bunch of coins in this one - ETH, ETH Classic, Gochain, POA Network, Vechain, Tron, Wanchain, Callisto, ICON, Bitcoin, Litecoin, BitcoinCash, TomoChain, Dash, Zcash, Zcoin, XRP - Legit don't even know what half of those are. - The person that nails this first could be the paypal. - Metamask is continually improving their experience though. - Coinbase has something similar. - [ETH Is not a security](https://coincenter.org/link/sec-chairman-clayton-just-confirmed-commission-staff-analysis-that-ethereum-and-cryptos-like-it-are-not-securities) @Karim Baruque this looks like it's all you - Story starts with a comment back in June of 2018 from the SECs Director of Corporate Finance (William Hinman) - "[Based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions](https://coincenter.org/link/a-top-sec-official-said-that-ether-is-not-a-security)." - Remember the Howey test? - Citrus farmers in FL 1946, went to the supreme court after SEC sued - SC developed landmark test. :A transaction is an investment contract if... - 1. It is an investment of money - 2. There is an expectation of profits from investment - 3. the investment of money is in a common enterprise - 4. Any profit comes from the efforts of a promoter or 3rd party - "When the efforts of the third party are no longer a key factor for determining the enterprise’s success, material information asymmetries recede. ... the ability to identify an issuer or promoter to make the requisite disclosures becomes difficult, and less meaningful." - A group wrote a letter to the SEC Chairman to see if this was just an opinion or represents position of the SEC - "I agree with Director Hinman's explanation of how a digital asset transaction may no longer represent an investment contract if, for example, purchasers would no longer reasonably expect a person or group to carry out the essential managerial or entrepreneurial efforts. Under those circumstances, the digital asset may not represent an investment contract under the Howey framework." - [Adoption Segment.](https://www.reddit.com/r/sandiego/comments/ax9sq4/gas_station_now_accepting_bitcoin_at_governor/) @Adam Levy - Implementation of crypto in the real world. - $0.40 off per gallon if you use btc. What other use cases are there? - Austria has advertisements in subways for Bitcoin (bitpanda) - there is a website called [shitexpress.com](http://shitexpress.com) where you can buy a pile of dung and send it to someone you don't like using bit coin. - yoga studios, restaurants, coffee shops, escape rooms—basically savvy business owners are starting to pop up with more options of payment—some crypto over credit cards - first time seeing payment in an SF coffee shop in 2014 - can any business use Cash app for bitcoin? - [Cool chart of crypto ownership in America](https://www.reddit.com/r/ethtrader/comments/b0gwlr/8_of_americans_own_cryptocurrencies/) @Adam Levy - 8% of Americans own crypto—think it was closer to 1-2% in early 2017 - too difficult to understand and too complicated to understand is a solid portion of . I can sympathize as it is not intuitve at all but once you learn it, it becomes second nature. Think going from windows to ios - most are just "not interested" - some say it's too high risk which, fair enough - During the 2017 boom, there were roughly 40k new CB users a week signing up. I'd say 8% seems about right. - [https://cointelegraph.com/news/us-state-of-colorado-passes-crypto-exemptions-bill-into-law](Colorado Crypto Exemptions Bill) - Colorado Digital Token Act. Colorado is "trying to provide clarity for the sector. That doesn't mean charlatans can violate security laws" - "digital token" as “a digital unit with specified characteristics, secured through a decentralized ledger or database, exchangeable for goods or services, and capable of being traded or transferred between persons without an intermediary or custodian of value ## Crypto Around the World - Mailbag From the zman in CB Discord: with all the hype surrounding game of thrones return in april, the BBs were wondering: 1. which GOT character do you believe you are most like? and 2. which GOT character reminds you the most of your co-host(s)? - Rants Brent hates Enjin (not quite) Samsung Blockchain Wallet Less Shitty - ETH, TUSD, BAT, REP, REVAIN, Chainlink, Aeternity, Paxos, Maker, USDC, PundiX, BNB, CosmoCoin, Bytom, OMG, Pupulous, Vechain, ZRX (NO TETHER) - Patreon - Exit Please join the conversation in the Discord. We're in there all the time. Rate us on iTunes. Follow CryptoBasicBrent on Reddit. We are not Financial advisers.