Its some of these liberty. Its somebody is silent, protest the it has been hijacked, a large part by an opportunist. Con artists, right . Scammers, the big point can be money in the way gold is, but that doesnt mean big corners occurring. Senior, the society is worse off in every regard. If we have to use speculative bit claim level as then it would be if the whole craze past the on the North Pacific and Central America lies the small town of arizona, the salvador, the waves draw surfers from around the world. But these picture perfect moments only capture one reality home to 3000 residents. Arizona today is one of the poorest places in the country. But its the street food is famous. The National Dish is called for post up there, sold on nearly every Street Corner for just a couple us dollars. The money . Yeah, i gave a accepts the virtual money as payment via smartphone app. Customers can pay with bitcoin, the worlds oldest crypto currency, the voice in the way up in your own vocal name. Yeah. But it was a little blurry to accept payment in between because its a Virtual Currency thats not widely known. Awesome. But its been 2 years separate of the team and im still taking bitcoin sign, your schedule as the, the, bickley. At 1st, the decision paid off for money, arguing the value of bitcoin shot up to 60000. 00. But then, within just a few months, it lost more than 2 thirds of its worth. Now money and some 50. 00 fellow retailers can only hope the trend reverses the big coin can theoretically be exchanged for dollars or euros at any time. In fact, holding onto this Virtual Currency, rather than exchanging it can be a significant gamble. Because the Crypto Market is highly volatile. Short term fluctuations happen frequently where its value will dip or search more than 10 percent. The. Its a risk, some retail is in arizona, they are willing to take they pay and do business in bitcoin, but they dont exchange their Crypto Assets into dollars, hoping that its value will rise money again. It is one of them. But at the end of 2022 things werent looking so good. If itd be the federal way, i said this is, but i hope to recover them soon. Better look. Yeah, yep. Itd be since then, the value of bitcoin did rise again. Welcome news. Not only for money, a social bitcoin project in its own thing is financed through crypto donations. The project is geared towards preventing young people from turning to crime. Gangs and murder are a feared part of everyday life and that was on hope house gives young people in the community, the resources to get a better start in life. The Charitable Initiative offers educational courses Recreational Activities and job opportunities, the doses, and the really this is yet to them. In the seo tool. In 20172018. Many people had to suspend their support for this project and due to various difficulties for the same time i got the ring and you coverage from one to to help. But as i know some of these good comments on the between the identity of the donor who offered funding to hold a balance well, remains a big mystery. All thats known is that the person was based in the us. Even the initiator of the non profit bitcoin beach and el salvador says he doesnt know who was behind the donation. I mean, it was a 16 year, some over over a number of years that wasnt injected into the community and in dollar terms. And so it was, you know, definitely something that was substantial on the donor was looking for was not just to give that line to a project where they would, you know, convert it to dollars, which is what most non profits would want to do. Thats the easiest thing to do, but they were looking for projects that were willing to use bit clients in a transactional way. And they believed that bitcoin being used would actually be more important than the monetary value of it. Its been more than 3 years since the project got underway. Those involved say theres been less crime plus many residents are now living with sturdy or roofs over their heads. Today, not those dollars that helped fund the new construction with bitcoin on behalf of multiple donors. But now the families need to pay off their loans and bid calling to see is concrete. So 122 safe and stable homes in place of flimsier 10 root houses for 100. 22 families. Not an insignificant number considering as its own pay only has a population of 3000. The Community Members dont only mix concrete. They also learn how to pay them bitcoin via their smartphones. They dont have bank accounts, they dont have access to any Financial System here. Any financial program, they dont have access to loans, they dont have access to insurance, they dont have access to anything, right . So you would have been impossible for them to get a home like this. And santee is considered a test case for the future of money. No matter ones capital. Every one here, rich or poor, can conduct business with an a. D centralized system. No dollars, no banks, no bank notes, the is bitcoin a better and more ethical type of money . Can it replace standard currencies coded help alleviate the pressure on the worlds poorest populations . There are many influencers and advocates who back bitcoin. Are they doing . So in the name of Economic Justice and despise the if for some reason, donnelly are doing it because theyre trying to make the world a better place. And dont they truly believe that bitcoin is good for people . Different honestly, i understand that argument fee. There are many legitimate reasons why bitcoin can be positives, always pulls the teeth. Find con the frankfurt is europes banking capital. Here, the development of crypto currencies isnt perceived as positively. The European Central bank or e. C. B is especially critical of bitcoin. The, at the end of 2020 to the e. C. Be published a blog post of land lasting bitcoin. It was regarded as something of a declaration of war. The authors classified bid calling not as an innovation, but as a speculative bubble, and wrote that bitcoin is taking its last stand, while investors stubbornly hang on. One of the authors is one of the been side. Because a surface indeed, if we have an use a speculative bit claimed bubble, which but society is worse off than if the whole craze pass for by the, for the be the idea of creating money without its oversight is simply on thinkable. It alone has the right to print the cash it deems necessary. It opposes circumventing banks to transfer money because that weakens the role of banks with its independence and the global reach. Bitcoin is a nightmare for authorities, especially considering the speculation on its increase in value. Its called a song submitted, so big calling its not suited as a means of payment is fed because its of all use highly unstable and a means of payment should not double as a speculative investment, investment time. Both these factors come together here and people are being moved with a positive narrative that the price of the big clients still continue to rise as we move i, the whole cables are every bitcoin transaction is stored as a code on whats called a block chain. Whats unique is that the entire block chain is stored identical you on a network of thousands of computers. This is what makes bitcoin a d centralized currency. Outside the control of the c, b for other banks. The bitcoin was created in 2008 and outline in this paper authored by so toshi not gemalto. The authors real identity is on. No. Its not even clear if theres just one person behind a bit coined or several people. The 1st bit coin costs just 0. 06 euro cents. In 2021. Bit coins worth shot up to over 58000 bureaus. A 5 cent investment early on. What are the gold about 5000000. 00 euro so 11 years later, at least briefly, the total amount of bit coins will be cap that around 21000000. 00. Its stipulated in the source code that there wont be any more beyond that. Which is why many people believe scarcity will drive the price up while leaders at the European Central bank regard, bitcoin as highly speculative researchers at the nearby Frankfurt School of finance and management to take a very different stance. The why to help inside. Why didnt you say the all by to just because mr. Vince i, it works for the European Central bank doesnt automatically mean hes right. Thats the only time will tell if he can be quite honestly find it rather pleasant like that. The c b as opted to run a campaign against britain calling in mind. These are the speak. Courtney is not necessarily an enemy of the euro. Deep notice. Valuables is the researchers dont regard bitcoin as a traditional means of payment. They see it as more of an investment. Similar to investing in gold hoping that its value will increase over time. The researchers dont believe bitcoin will function as money on a global scale. So you dont use it as a relatively high volatility with going to a 51 day. The price is through the real life and more the next it takes a nose dive, its going to, its impossible to establish prices that way. 15. 00 plus its not accepted widely enough. If you to be, when you dine out or fuel your car, you can pay in euros anywhere. But i hang with big point is rarely an option. Fos newtons. But a recent development could work and criptos favor. One of the main objectives of the European Central bank is to prevent high inflation. And lately it hasnt been succeeded. Everything is becoming more expensive. The value of money is falling of interest on the job and get this stretches on year after year. So you will see that certain groups in society will face considerable challenges as costs will go up. And while wages, for example, dont side side is slowly and i think the importance of bitcoin will grow during the same period. Time give used food name and con, the very few bits. This is in europe except to bitcoin. Critics, a crypto currency enables cyber crime. The buying goods and services in the mainstream economy is, is very difficult using the crypto currency. And so the, the main use case for purchasing goods and Services Using crypto currency is illegal activity for the most part. So whether it is Something Like ransomware, uh, or, you know, buying drugs or uh, you know, maybe you want a higher hit man then. Yeah, bitcoin is fantastic for that purpose. Thats one reason why most of lawmakers dont want to see free trade happening and crypto currencies at all. The large regulated Crypto Exchanges are meant to oversee bitcoin transactions, thereby deterring criminals. Customers identities must be verified before they can buy bitcoin and profits can be taxed. Customers receive an account known as a wallet. If the Exchange Euro is per bitcoin, for example, those assets end up in their wallet, you know, on top of stocks in. So this is the point where the state has excess space. Indeed, where my deposit in euros into the Crypto Exchange rate, some point which wallet or the euro is coming out of out. And if the state has the ceiling, theres a fraud starting the mix to can approach the Crypto Exchange and say, what do you Crypto Exchange you be good because mr. X or miss y own bit coins if so on. If so, please share their wallet details and this one we need to see whats going on most little spot. Los angeles in california defying norms is the norm. Many here love crypto currency because it aligns with their politics, freedom and independence from the state. Our core bitcoin values, it plays on contrast outside or is versus the establishment rich versus poor. New versus old. A bank stocks where double the scales, not just in the us and the drama this too crazy things happening to last night. Heres what you need to know, one of inclusion volt. Just in f o m c update boxing and bitcoin have a lot in common. At least according to one of the worlds most successful crypto influencers. Theyre both charged with symbolism. To go your own way, youll have to fight for it about the underdogs and having control of your actions and using Critical Thinking changes coming. But this romantic idea of a crypto utopia is unraveling. In 2020 to several crypto absent exchanges plunged users into financial ruin. The biggest scandal of all was the bankruptcy of f t x. The Crypto Exchange founded by sam bank vent free. He was accused of stealing billions from customers. In november 2023, a new york court convicted him. He was found guilty on 7 counts of fraud and conspiracy. Im not just counting, sam, he did absolutely terrible things, very, very bad things. He lied, he sold you practice and other and that the cold behaviors. But at the same time, we have bad actors in every single industry. And were gonna continue to have bad actors and crypto. Its unfortunately human nature, but just sit and just single him out. And not Pay Attention to what some of the other bankers and what the other Public Servants are doing would be the service to the American People and people in general on the world. Before being convicted bank, im in freed, lived here with his parents on a bail bond of 250000000. 00 us dollars. His situation, not unlike those faced and Major Bank Failures that collapse is like so many other Financial Institution collapses that weve seen over the years. Right . You have effectively an entity that is heavily reliant on, on leverage, which is placing big beds. Uh, and then covering over those pets with with more beds. And any time you have an institution which is, is debt financed that theyre going to run into some trouble in the us unregulated Crypto Exchanges, long dominated the market no authority felt responsible for crypto currency such as bitcoin or the number 2 crypto currency. A theory of in large funds and gives you asked me you want and you have around 8000000 holders, a big coined industry uranium in germany. And there are only fund im saying that in quotes 20000. 00 f t x victims. I think this shows that regulation has had a positive effect here whos been, i would argue, regulation is necessary and long overdue in america to prevent further damage. I thought i shot an inch deep, many feel the temptation to make big money with bitcoin. The. Im in the for the st gets on speculative and ultimately id say it comes down to speculative investments. You want the claim holders and vision. Thats the volume that claim to compete with. Rising does not suggest that we have an asset class year class that you can invest in on some high, secure, fantastic future. You end up and of course, and from you need to maintain a narrative about what is useful for, for the see it could be useful for payment transaction. It looks like youre contacting, thats the sign. Hes entitled his opinion. However, ive done pretty well with the client with trading it withholding it with using it to transact. And i havent had anybody really tell me what to do with that. So, i mean, thats his opinion and im sorry he feels that way. But if you look at the United States of america Banking System and all the bonds and the traditional financial investments, we have, theyre not really doing too great either. There are more than 8000. 00 crypto currencies out there. Theyre offered on a myriad of Crypto Exchanges. Not to mention the countless obscure providers advertised on social media. The industry is a shark tank. It has been hijacked in large part by opportunists, con artists, right . Scammers, i know many, many people have lost enormous amounts of money in these markets. Its a classic kind of bubble. Now thats not to say that there isnt right, really Amazing Technology that sits underneath it. Recently, theres been a shift in the us users on Crypto Exchanges are now obliged to provide nearly as much personal information as they would need to when opening a Traditional Bank account. A far cry from the independence crypto promised. The effectively recreated kind of like a traditional Banking System on top of these crypto currencies. And i think most people who use them dont, dont realize that, that theyre back in, you know, using an institution which is very similar to the ones that they think they have fled. The wendy o wants to conduct business independently of banks. Thats why she stays clear of regulated Crypto Exchanges. She ops for the more technically advanced route of trading, directly from person to person, known as peer to peer. The, when youre using a 3rd party exchange, like a buying errands or a clean base or german, i understand that as a 3rd party that they are holding your crypto courtesy. If that exchange goes down, you can lose your money. For most people, learning the jargon and inner workings of the complicated technology is to time consuming. Crypto exchanges are a far simpler option. But wendy only trusts herself and bitcoin in its original conception. Permit cooling is stored in her own wallet. Theres no 3rd party thats monitoring you, thats tracking you. Thats taking your information and, and selling it to somebody else between doesnt do that. These 3rd parties they deal wendy o is part of a close knit community, a bit coin users that this trusts banks for them. The notion that this new Monetary System should be regulated the same way as the traditional Banking System is out of the question. Are Public Servants, thats what i like to call them. Theyre just a bunch of people with these very expensive pieces of paper degrees, or they come from really great families or theyve got connections. Theyre j