hey welcome back everybody to altcoin daily let's start the week off strong let's start the week off
right just like always guys we drop one video every day keeping you informed major news today
involving the country of malaysia major news today involving a z cash upgrade involving a luna update
involving ethereum bitcoin nfts this is what we do on this channel a video every day if you
appreciate that smash that like button let's get those likes up there let's jump right in malaysia
has proposed adopting cryptocurrency as legal tender the dominoes continue to fall
malaysia's deputy minister of communications and multimedia has suggested that the country should
adopt cryptocurrencies as a legal tender to help younger generations now let's find out specifics
why specifically are they interested in this what did they say quote we hope that the government
can try to legalize this matter so that we can expand the participation of young people
in cryptocurrencies and help them in terms of energy consumption and so on very interesting
so nothing official yet however they are very interested and it is important to note despite
many reports of numerous countries and officials signaling intentions to make bitcoin legal tender
so far el salvador is the only country in the world to have pulled the trigger now i do want
to recommend to you the interview with george the just came out everything you can expect at bitcoin
miami conference coming up in april make sure you get your tickets 10 off links below and he says
we're gonna have something on par with a country accepting bitcoin as legal tender again i mean
you'll have to listen to it check this out let's move forward a small step yet an important step
goldman sachs has executed the bank's first ever otc crypto transaction this was announced
previously we've reported on this now it is happening the details are as follows on monday
the multi-national investment bank and financial services company goldman sachs disclosed that
they conducted an over-the-counter otc crypto transaction with the digital currency firm galaxy
digital following the otc settlement the head of digital assets for goldman sachs max minton said
that the firm was pleased to have executed the bank's first cash settled cryptocurrency
options trade with galaxy a small step seemingly a meaningless step but nevertheless an important
step because this comes first and then eventually hopefully a spot bitcoin transaction they're
getting into cryptocurrency it's important to see the way the world is trending bitcoin is being
accumulated and mass and if you want many details about whales accumulating bitcoin i encourage you
to check out this video we've released just the other day best time to buy bitcoin why are people
buying bitcoin you find out in this video beyond that i want to put one more metric on your radar
bitcoin's four year moving average has passed 20 000 the previous all-time high
milestones like this are subtle yet important are you a fan of tara luna are you a fan of
tara tara luna has just went on record saying it is their intention to purchase three billion
dollars worth of bitcoin and continue purchasing bitcoin to use as supply for the reserves of their
terra luna protocol when asked why tara chose bitcoin as a reserve asset the founder stated
i mean a couple of reasons here but put simply bitcoin is the only hard reserve asset that's
been proven out of the digital currencies it is very difficult for somebody in crypto to question
bitcoin so again now we have a popular crypto protocol which is adding bitcoin to their reserves
only 21 million bitcoin ever many people want to purchase it because of the value prop this is
just one of the many reasons i'm hugely bullish on bitcoin and bullish on crypto in general so it's
no wonder to me that 1.36 million is the estimate target for bitcoin by the end of 2030 according to
arc invest and they break that down right here and there's a whole report let's talk about alt coins
let's talk about ethereum and again i do want to encourage you seek out this video from just
a couple days ago ethereum's value prop going in to the merge to proof of stake i believe ethereum
is undervalued what you need to know today is six billion dollars worth of ethereum has been burnt
thus far a record two million ether coins have been destroyed just within seven months combined
with everything i mentioned in that video that you should seek out i believe it is true that eth has
the potential to go five-figure post-merge do your own research make your own decisions but
i believe ethereum is undervalued especially when we continue to see layer 2 ecosystem progressing
dapps continuing to be built on it in this case gamestop plans nft marketplace for q2 of this year
last month the company reached a major agreement with immutable x and ethereum layer 2 nft scaling
solution and of course the nft market's going to go in ebbs and flows just like the cryptocurrency
market just like all markets but understand where we are with nfts first of all understand coinbase
in 2014 had just 1 million users 2 million in 2015 5 million 2016 3 million 2017 22 million 2018 30
million 2019 35 million 2020 56 million last year incredible growth and there's still a lot more
growth to be had now understand the most popular nft platform openc has yet to reach even one
million users where coinbase started off how crazy will things get when openc has 5 million users 10
million users 50 million users not to mention when coinbase launches their nft marketplace
which i believe is going to strongly compete for that number one position and it's also important
to understand that crypto is much more than nfts i loved what vitalik said in his time interview
the goal of crypto is not to play games with million dollar pictures of monkeys it is to
do things that accomplish meaningful effects in the real world love it let me know what you think
about all of this in the comments below let me know if you're bullish on privacy coins monero
or even specifically z cash and let me update you to a major upgrade that is coming in the pipeline
for zcash this april april z cash will undergo its first significant network upgrade since 2020.
let's look at what users can expect after the upgrade and what's coming down the road for zcash
network upgrade 5 new 5 encompasses features that lay the foundation for increased privacy
and scalability the most significant change is moving to the halo 2 proving system eliminating
the need for a trusted setup and bringing recursive proof composition to zcash so what does
this mean for everyday users well halo enables enhanced scalability and privacy by changing the
underlying cryptographic primitives that power the system end users can easily verify large amounts
of data by confirming a proof of proofs like zero knowledge inception and what about that trustless
setup well zcash's legacy proving system requires that a select group of people destroy toxic waste
or data that could allow a bad actor to mint zcash abruptly without other users in the system knowing
after new five hits mainnet the zcash team expects to shift to more product centric focus
by building more developer tools and working on scalability and user experience initiatives
so more privacy more scalability less likely you're able to cheat the system more of a focus on
products all of this and actually have yet to mention the most interesting aspect there are
even rumblings of migrating to proof of stake by implementing components of the cosmos stack zcash
running on proof of stake would open up a world of new use cases incredibly interesting developments
let me know if you're bullish on z cash if you're bullish on privacy coins do you think this upgrade
is going to be good for z cash history is in the making my friends we are witnessing crypto history
and precedence being set finally my friends ftx this is a microcosm to what's happening in the
world in general many exchanges continue to expand in this case ftx opens up shop in australia amid
regulatory action the leading cryptocurrency exchange has acquired an australian financial
service license and opened a branch in australia use our ftx link in the description ftx is a great
exchange i love ftx the greater takeaway here is that people continue to build integrate implement
it is an exciting time to be in this space my name is aaron at altcoin daily see you tomorrow