Bitcoin is a shining City in cyberspace and you can go there once you understand it
a lot of different altcoins we're going to cover in today's video check the time stamps below also
I want to clue you in into important news stories that affect us as cryptocurrency enthusiasts and
cryptocurrency investors of course that's why you subscribe to our channel for the daily crypto
content keeping you informed let's start right here the co-founder of polka dot Gavin wood also
co-founder of ethereum is stepping down from the CEO role of polka dot actually the main
builder of polka dot let me explain to you the details Gavin wood is shaking off his CEO title
at parity Technologies which is the key backer supporting the polka dot ecosystem Gavin wood is
a longtime crypto developer who co-founded polka dot After exiting the ethereum foundation in 2015
he will remain a majority shareholder in parity Technologies and his co-founder Bjorn Wagner will
become the new CEO so what's Gavin wood going to focus on well in in a statement shared with
coindesk Woods said he will be focusing on making polka dot more relevant to large swaths of the
population in his new role as Chief Architect quote this will Begin by helping the community
design and build several interesting chain integrated social Primitives which I think are
crucial for us to deliver a true web 3 platform so does this remind you of anyone to me this is
reminiscent of Michael Saylor stepping down from CEO of microstrategy to take a different
position so he can focus more on bitcoin Gavin wood stepping down from CEO role to focus more
on polka dot so the real headline should read polka dot development Shop parody Tech appoints
its co-founder and skilled business leader Bjorn Wagner to CEO allowing polkadot founder and
Technical leader Gavin wood to focus efforts on technical strategy architect and development let
me know if you like polka dot if you're bullish on the project let's talk about ethereum ethereum
is going through quite a milestone and major change for the past 12 days ethereum Supply
went deflationary with 10 000 eth taken out of Supply so understand the significance ethereum
records its first deflationary month in history as circulating Supply declines ethereum Supply since
the merge has risen only 3600 with a negative Supply growth over the past month indicating
ethereum has achieved deflationary status and you can see the difference right here ultrasound.money
I mean this was the the Pivot Point the changing point if we were to just simulate say ethereum
didn't transition to proof of stake say it stated proof of work let's simulate that real quick and
you can see the amount of eat issued is just orders of magnitude more let's switch back to
proof of stake which it is and so much less Ethan on the open market big change tldr just six weeks
after the merge ethereum has gone deflationary the network is producing negative issuance over
the past 30 days and the now shrinking Supply is attracting institutional investors which
institutional investors Fidelity to roll out ethereum trading for institutions next week
Fidelity will officially make ethereum the second largest cryptocurrency by market cap available
to all of its customers on October 28th now it is important to remember that this deflationary month
for eth was actually caused by some hex variant Ponzi Zen crypto and while it's fantastic that EIP
1559 increases ethereum security when ponzis Spam The Chain it also highlights that as a community
we have a long way to go to produce real value let's check in on bitcoin Bitcoin is actually
less volatile than the NASDAQ and S and P Bitcoin less volatile than the stock market for the first
time since 2020 to help explain why Bitcoin is so stagnant and provide us some perspective and
actually an Outlook as to some bullish catalysts going into the end of the year I really liked
Kristen Smith's perspective she's the executive director of blockchain Association on cnbc's
Squawk Box just this morning listen to her explain why Bitcoin has been so stagnant and her possible
bullish catalysts going into end a year and I think Bitcoin has been largely stable for a couple
of reasons um one you have the retail investor that has largely exited investing in Bitcoin as
Frank was talking about before people are worried about paying for gas they're worried about paying
for groceries they don't have the you know ability to put extra money away by investing in Bitcoin
at the moment but um I do think that the the investors that are in there right now are holding
out for a future date uh they're they're in it for the long run and that I think as we start to
see the economy turn around and people putting more risk into their in investment portfolios
we're going to see the uh the investment in Bitcoin rise and subsequently the price
what kind of uh legislation do you foresee and what would any legislation at all be a positive
or does it matter what what finally comes down the pike yeah yeah no listen I think what's really
interesting right now is that Congress is actually actively working on legislation that would provide
additional regulation for the underlying digital commodity spot market so including the Bitcoin
spot market and this actually has a real chance of getting done before the end of the year that the
chair and ranking member of the Senate agriculture committee has introduced the digital Commodities
consumer protection act the dccpa and this is a pretty good framework for regulating
centralized exchanges in the spot markets there is one outstanding issue around decentralized
Finance these are software protocols that operate completely differently than custodial centralized
exchanges but that's an issue that's being worked out I'm optimistic we'll come to a good resolution
there but yeah it's uh there's I think there's a decent chance we could see legislation signed into
the law before the end of the year step in move to earn step in competitor greety steps up in
the move to earn space a new move to earn game is a arriving later this year with designs on
setting a gold standard for mobile fitness apps key takeaways greedy and upstart competitor in
the move to earn gaming space has closed its 1.7 million dollar seed round previous attempts at
such gaming models have enjoyed fleeting success but ultimately succumbed to poor token mechanics
greedy is happy to boast its credentials but whether or not it can deliver remains to be
seen so greedy I'm sure this is not going to be the last time you hear about it and just
want to update you they secured some funding I'm sure the marketing is coming next and if it has
better tokenomics hey this could be big Interpol launches first ever metaverse designed for Global
law enforcement the global police organization unveiled its own metaverse indicating that more
oversight of virtual worlds is imminent the international criminal police organization
Interpol has announced the launch of its fully operational metaverse and initially designed for
activities such as immersive training courses for forensic investigations I'm sure it will
evolve as the metaverse evolves concerns are being raised about potential metaverse crimes including
crimes against kids Data Theft counterfeiting ransomware sa and harassment quote for many the
metaverse seems to Herald an abstract future but the issues it raises are those that have
always motivated Interpol supporting our member countries to fight crime and making the World
virtual or not safer for those who inhabit it it's from Interpol itself so we'll keep you updated on
this and finally a little good news this is what I like to see this is positive regulation Japan
to relax cryptocurrency listing rules the Japan virtual and crypto asset exchange Association
plans to allow crypto trading platforms to list coins without going to through a lengthy screening
process quote we hope the latest measure will help Revitalize Japan's crypto asset Market
said the vice chairman of the association and these relaxed rules could take effect as early
as December interesting to see a major country like Japan doing this while the US is just taking
baby steps it seems subscribe to the channel join our team daily crypto coverage see you tomorrow