Hey yo what’s cooking with my people, the Chico Jarhead crew & amp, if you’re new, looking for something to do, join us by subscribing & amp dropping the title of viewer of the tube., My name is Tyler and, like Gordon I’ll, tell you how it is….
.Smashing, Gordon. It’S time for Chico Crypto Smashing, isn’t it BITCOIN and the price just busting right through level after level. 11k to 12k, the price spent 12 days in 12k to 13k a quick blow through just 4 day in that level.
13k to 14k. Once again, about 12 days. In 14k, through 15k, another quick blow through just 3 days in that level, with its’ official break through. And now the past 2 levels. Things have been ramping, up.
, 15k to 16k ... 6 days in that range, 16k to 17k .... Just another 6 days in that range ..., and then we almost blew through the 17k to 18k range in a matter of 24 hours earlier in the week & amp. We could actually be above it today, as I shoot these videos 24 hours in advance.
. Well, it seems these markets are really kicking into HIGH gear. Wouldn’T you say…, But Chico is the one who digs deep & amp. There are warning signs that a reality check may be coming soon., So let’s talk about it, .
.. the big ole mankey on the crypto markets, back…. Tether, USDT…..Duh, Duh Duhhhhhhhhhh…... So if you didn’t know Tether is the blood of the crypto markets, even though a large majority of the retail traders never touch it.
. Looking at BTC trading volume by crypto compares it’s, largely USDT, barely any fiat based volume, these days…, And even with the launch of regulated stablecoins, which have swallowed up all the new and big “institutional” money.
Tether still to this day is about 65 percent of monthly bitcoin volume., So who, in the freak, is using it Well Lionel Laurent of Bloomberg knows he tweeted with this chart. “This is a rally driven by trading from punters in lockdown, with stimulus checks to hedge funds, who reckon they’re onto a Google-like tech, trade and Tether-driven activity in East Asia.
( the world’s biggest crypto market. ) Merchants are only 1 % of activity in N America”, So East Asia is using Tether. ... East Asia is largely the bitcoin volume moving the bitcoin price & amp, the bitcoin price controls the entirety of the crypto markets.
RISKAY, to say the least…. Now Tether is the only stablecoin out there, which refuses to show it’s reserves..we all know that, and there is a reason for it, because it’s not there. Those at Bitfinex .
... They are the crypto market’s FED, which has had the power of a money, printer ..., and that is too much power., But where did their power come from? Well, here is a picture of Bitfinex CEO and large investor shareholder and partner .
.. Zhao Dong. Their key to the vast power of the Chinese.. Now this January 2018, tweet from Whale Panda explains who zhao dong is perfectly. Panda, says “According to Zhao Dong, China’s biggest BITCOIN.
Otc trader and investor in bitfinex Tether has 1.8 billion USD in a USD bank account.. At this moment, 1.6 billion USDT have been printed. An additional 1.1 billion is held in a bitfinex USD bank account.
. Yes back, then Zhao was publicly vouching for Tether’s reserves, which were not there, but the thing we are focused on is he is China’s biggest bitcoin OTC over the counter trader. Power over the counter, that’s what it was.
Zhao was connecting bitfinex and Tether to Chinese, who Were looking to move ton’s of BITCOIN ..., who could that be Those with a lot of Bitcoin in China? Well, the large chinese exchanges, the VCs, the miners and the mining pools of course.
. They are the ones… And things started getting really freaking scary over the summer. For the blood of the crypto markets. Cointelgraph covered it in July, “Bitfinex Investor Reportedly Detained by the Chinese Authorities.
Zhao Dong was taken in custody by the police, with no official statement as to his detention., Which coincided with thousand’s of bank accounts of OTC traders being frozen Throughout China ... it was the OTC crackdown.
That was news, and then it just left went silent. We haven’t heard much about it since Nor Zhao, Dong. And a Caspian Sea has been covering it on Medium .... Please join my crew Caspian. His article in September was Zhao Dong.
The Final Word Caspian said “Despite repeatedly requesting cryptocurrency media to cover the Zhao Dong story more thoroughly. Not a single one has decided to follow through — even though many outlets have correspondents in China.
. His article goes deep into who zhao dong is and what is happening ..., but just of what is happening. No one knows .... He still isn’t heard from tis a mystery & amp. If you want all the details, caspian sea’s, full article is in the description.
, But the facts are this: ... China has been cracking down on money laundering channels, including ones with Bitcoin and USDT. Chinese miners. The VCs Large whale traders, including the exchanges, cannot empty bags right now, as all OTC channels are blocked by the government.
. There is no getting into the Chinese Yuan easily.. So large powerful entities have big ole bags of BTC & amp USDT because of the chinese government.. They can’t get out, so what are they gonna do Play around with the two assets and pump the price .
..? What I find hilarious is the chinese government indirectly started another hype cycle for BITCOIN, But where there is a will, there is a way .... They will find a way to exit to eventually get out of the large bags of BITCOIN and USDT….
So doom and gloom Well, not necessarily, in my opinion, .... I hope you guys realize that this is bigger than just a large mining pool, whales, exchanges, VCs and even Tether ... Let’s just listen into what Brian Brooks our Acting Comptroller of the Currency, who was just nominated for a full nother 5 year term, had to say About BITCOIN, just 2 days, ago.
It’s, a regional battle for control, control of the future of money. The US is making geostrategic decisions to remain competitive.. Do they want to own internet 2.0? In the same way, the US owns internet 1.
0. Brian’S words that China controls the hashrate ... its, not necessarily untrue, and this technode article shows the US is fighting back., “Is, crypto mining, really moving to North America And the subheadline says: “Chinese miners are not fleeing, but North America is hitting the gas on a challenge To China's, mining dominance”! Yes, the Chinese miners are staying put, but the US is growing.
.from the article it says: “The bulk of the orders for mining rigs in 2020 are from North America said several industry insiders, including Yang.. It is likely that major manufacturers will be occupied with delivering orders to North America for the rest of the year, with little to no capacity to deliver new orders to China” So whyyyyyyy the fight back from the US.
If this was just fugazi money ..., why? The mass investment in mining hardware across the board to compete Well here is the thing .... Neither China nor the US is going to ban “BITCOIN”, as that would give them the opportunity to seal the deal for full control over it.
. The only way BTC could be destroyed is the 1 in a billion maybe trillion chance that China & amp, the US sit down at the table and both decide to do it. That’s not gonna happen…So. What we are in the beginning, stages of .
.. is the economic cold war and BITCOIN can be compared to being the nukes. Hey. Why don't’, you ban the nukes china. No, you ban them. The US it’s a stalemate ..., which can only mean one thing: .
.. it’s not going away…, Because the US right now actually loves BTC because it’s a right now threat to the Chinese Yuan.. Obviously, the government thinks it’s a big enough threat for Yuan capital flight that they will shut down OTC desks and arrest the leaders, but they still won’t ban it completely shut down mining .
... They never will Because deep down ... China actually loves BTC as it’s. A major eventual threat to the United States USD that they have control over ... for now., [, Music, ] egg yolk. What's cooking with my people, the chico jarhead crew? And if you're new looking for something to do, join us by subscribing and dropping the title of viewer of the tube, my name's tyler and like gordon, i'll.
Tell you how it is it's, not even pink, that's wrong and coop has delivered undercooked salmon smashing gordon it's time for chico, crypto smashing isn't, it bitcoin, and the price just busting Right through level after level 11k to 12k, the price spent 12 days in 12k to 13k a quick blow through just four days in that level, 13k to 14k, once again about 12 days in 14k through 15k.
Another quick blow through just three days in that level and now the past two levels. Things have been a ramping up, 15k to 16k six days in that range, 16k to 17k, just another six days in that range, and then we almost blew through the 17k to 18k range in a matter of 24 hours earlier in the week, and we could actually Be above it today, as i shoot these videos 24 hours in advance, so it seems these markets are really kicking into high gear.
Wouldn't, you say uh, but chico is the one who digs deep and there are warning signs that a reality check. May be coming soon, so let's, talk about it, the big old manky on the crypto markets back tether usdt.
So if you didn't know, tether is the blood of the crypto markets, even though a large majority of the retail traders never touch it. Looking at btc trading volume by crypto compares it's, largely usdt, barely any fiat based volume.
These days, and even with the launch of regulated, stable coins, which have swallowed up all the new and big institutional money, tether still to this day, is about 65 of monthly bitcoin volume so who, in the freak, is using it tether usdt well lionel laurent of bloomberg.
He knows he tweeted this with this chart. This is a rally driven by trading from punters in lockdown, with stimulus checks to hedge funds, who reckon they're onto a google-like tech, trade and tether-driven activity in east asia.
The world's biggest crypto market merchants are only one percent of activity in north america, scary about the north america, facts, but east asia. They are the ones using tether. East asia is largely the bitcoin volume moving the bitcoin price and the bitcoin price controls the entirety of the crypto markets, risque, to say the least.
Now tether is the only stablecoin out there, which refuses to show its reserves. We all know that, and there is a reason for it, because it's, not there, those at bitfinex they are the crypto markets fed which has the power of a money printer, and that is too much power.
But where did that power come from? It has to come from somewhere. Well here's, a picture of bitfinex ceo and a large investor shareholder and partner, zao dong, their key to the vast power of the chinese.
Now this january 2018, tweet from whale panda, explains who zao dong is perfectly panda says. According to zao dong, china's biggest bitcoin otc trader and investor in bitfinex tether has 1.8 billion usd and a usd bank account.
At this moment, 1.6 billion usdt have been printed, an additional 1.1 billion is held in a bitfinex usd bank account. So back then zhao was publicly vouching for tethers reserves, which we're, not there, but the thing we are focused on is he: is china's biggest otc over-the-counter bitcoin trader power over the counter? That's? What it was zou was connecting bitfinex and tether to the chinese, who are looking to move tons of bitcoin, who could that be those with a lot of bitcoin in china? Well, the large chinese, crypto exchanges, the vcs, the miners and the mining pools.
Of course, they are the ones and things for them started to get really freaking scary over the summer, which means for the blood of the crypto markets. Coin telegraph covered it in july, bitfinex investor reportedly detained by chinese authorities.
Zao dong was taken into custody by the police, with no official statement as to his detention, which then coincided with thousands of bank accounts of otc traders being frozen throughout china. It was the otc crackdown.
That was the news and then it just left. It went silent. We haven't heard not much about it since nor from zao dong and a caspian sea has been covering it on medium. Please join my crew caspian. His article in september was zao dong.
The final word caspian said, despite repeatedly requesting cryptocurrency media, to cover the zhoudong story more thoroughly, not a single one has decided to follow through. Even though many outlets have correspondence in china, their article goes deep into who zaodong is and what is happening, but the just of what is happening.
No one freaking knows he still isn't heard from, and it is a mystery. But if you want the full details from caspian, the full article is in the description. Although the facts are this, china has been cracking down on money laundering channels, including ones with bitcoin and usdt chinese miners, the vcs, the large whale traders, including the exchanges they cannot empty their bags right now, as all the otc channels are blocked by the government.
There is no getting into the chinese yuan from crypto easily, so large powerful entities have big old bags of bitcoin and usdt because of the chinese government. They can't get out. So what are they gonna do play around with the two assets and pump the price? What i find hilarious right now is the chinese government indirectly started another hype cycle for bitcoin, but where there's a will, there is a way and those with big bags.
They will find a way to exit to eventually get out of their large bags of bitcoin and usdt. So doom and gloom, a big old crash. Well, not necessarily in my opinion, like it, will destroy the markets. You guys got ta realize this.
This is bigger than just a large mining pool, whales, exchanges, vcs and even tether. Let's, just listen in to what brian brooks our acting comptroller of the currency, who was just nominated for a full another five-year term had to say about bitcoin.
Just two days ago, the other thing that china has done is they have captured more than 51 of the mining capacity on the bitcoin blockchain, which means that the very first internet of money, which was the bitcoin blockchain about 10 years ago, is now essentially owned by China, so as a country, we now face a geostrategic competitiveness issue which is: do we in the united states want to own internet 2.
0 in the same way that we own internet 1.0? It's, a regional battle for control, control of the future of money. The u.s are making geostrategic decisions to remain competitive. Do they want to own internet 2.
0? In the same way, the us owns internet 1.0, brian's - words that china controls the hashrate, which is not necessarily untrue. He just didn't, get it spot on, but this tech note article shows the us they're.
Fighting back to control more is crypto mining really moving to north america and the sub headline says: chinese miners are not fleeing, but north america is hitting the gas on a challenge to china's.
Mining dominance. Yes, the chinese miners. They're staying put, but the u.s they're growing and then the article says the bulk of orders for mining rigs in 2020 are from north america said several industry insiders, including yang.
It is likely that major manufacturers will be occupied with delivering orders to north america for the rest of the year with little to no capacity to deliver new orders to china. So why the fight back from the u.
s, if this was just fugazi money, why the mass investment in mining hardware across the board to compete? Well, here's, the thing neither china nor the us is going to ban bitcoin, as that would give the other the opportunity to seal the deal for full control over it.
The only way btc could be destroyed is the one in a billion. Maybe trillion chance that china and the us sit down at the table and both decide to do it and that's, not happening. So what we are are in the beginning.
Stages of the economic, cold war and bitcoin can be compared to the nukes. Hey why don & # 39? T you ban the nukes china? No, you ban them the u.s. It's, a stalemate, which can only mean one thing: it's not going away because the u.
s right now actually loves btc, because it's right now, a threat to the chinese yuan. Obviously, the chinese government thinks it's. A big enough threat right now for yuan capital fly that they will shut down otc deaths and arrest their leaders, but they still won't ban it completely like shut down mining.
They never will because deep down china actually loves btc as it's. A major eventual threat to the united states usd that they have full control over right now, for now a catch-22: wouldn't, you say: cheers i & # 39.
Ll, see you next time: [ Music ]! You