billions of people will use blockchain technology soon adoption in the next four to five years Dan
Morehead head of the institutional asset manager Pantera Capital thinks that there might be many
distressed financial sectors in the years to come but the digital asset industry will not be among
them welcome back everybody to altcoin daily you subscribe for daily videos keeping you informed
on the entire cryptocurrency Market Dan moorhead's exact quote on CNBC Squawk Box the important thing
to keep in mind is crypto is such a disruptive thing it's going to change so many aspects of
our lives in the next decade we all are used to using Bitcoin as a proxy for blockchain there
are hundreds of really interesting projects let's watch this 30 second clip with the prompt and his
response Bitcoins down from over sixty thousand to eighteen thousand I mean or nineteen thousand and
you need to be prepared some stocks do that too I think zooms down more than that but you know
obviously it's hard to just assign a clear value to crypto yeah I think the important thing to
keep in mind here is crypto is such a disruptive thing that's going to change so many aspects of
Our Lives over the next couple decades it's in a secular bull market and it does occasionally
get caught up in these cyclical downdrafts of risk assets but I can easily see a world a few
years from now where risk assets themselves might be still struggling but blockchain's
back to all-time highs and doing its own thing based on its own fundamentals and that story is
hundreds of millions of people use blockchain today I think in four or five years it's going
to be literally billions of people and the way to Value things is supply and demand if you have a
billion people that want to buy a fixed number of coins the price probably goes up cardano Creator
Charles hoskinson has also named a catalyst that he believes could end the cryptocurrency downturn
and Trigger the next Mega bull market this is what he says creator of cardano says that
he has identified the Catalyst that would end the cryptocurrency window and Spark a massive
industry-wide I'd rally in a new interview with cheeky crypto Charlie hoskinson creator
of cardano the smart contract platform says that if the U.S government were to pass the financial
Innovation act the crypto markets would begin a mega Bull Run hoskinson says that the passing
of this act would prompt Blue Chip investors to flood the cryptocurrency market with capital as
well as reduce the regulatory risks associated with investing in digital assets quote I've been
through seven bull bear markets since I joined the cryptocurrency space and this current market
is no different it could last 18 months it could last two years it could end at the end of the year
who knows it's Any Given Sunday but if America passes the financial Innovations act we'd probably
see a mega bull market because a huge amount of institutional money would enter and also all of
the regulatory risk with crypto would disappear if you're unfamiliar the financial Innovations
Act was originally proposed by Republican senator Cynthia Loomis of Wyoming and Democratic senator
Kirsten gillibrand of New York in June it aims to create a comprehensive regulatory framework
for the digital asset industry now that's the mega bullish case that would flood the cryptocurrency
market with money that's the mega bullish case hoskinson however also noted that it's possible
for the markets to go the other way if certain Regulators such as U.S Securities and Exchange
Commission chairman Gary Gensler are further empowered quote if people like ensler are
empowered we could see a mega bear Market happen as a massive amount of litigation occurs in all of
these poor entrepreneurs just basically get put out of business by the heavy-handed government
let's go back to Dan Moorhead the CEO of Pantera Capital he's going to give his thoughts on this
scenario Gary Gensler the SEC and his overall thoughts on the entire regulatory framework of
the cryptocurrency space listen what do you hear in terms of the regulatory landscape in
the United States for example and how do you how do you prepare for that Gary gensler's not going
to be there forever I don't you know neither you know the makeup of the senate in the house who
knows but but what do you expect down the road is it positive that we get some you know we finally
understand exactly what regulation looks like or is it is it going to be a detrimental to crypto
when it finally comes well you have to view it as a glass 7 8 full seven out of the eight big
agencies in the US have already ruled on crypto and they ruled quite early some like the IRS ruled
in 2013 and all those rulings are literally the best possible rulings so the only one left is the
SEC it would be helpful if they gave more guidance on what is the security and what is not a security
and hopefully with in the next year so that will come out taking a look at bitcoin's current price
chart look you do not have to buy Bitcoin sub 20K but I don't get who's selling down here either
we're a week away from October and it's all going to plan we even got the s p to land at a major
horizontal support commenters reply guys you have about another week to tell me I'm wrong in altcoin
news Al gorand rallies 27 percent as FIFA launches its nft Marketplace FIFA plus collect went live
September 22nd bringing historic FIFA moments in the form of nfts to collectors the Genesis
drop launched with about half a million editions will allow collectors to own and trade these nfts
Al gorand is the winner here being the official blockchain platform and it noted a surge in buying
pressure Rising 12 percent in a span of 24 hours good win for algorand in other news again with
Charles hoskinson making news cardano founder says cardano's staking method is better than ethereum
on the one hand of course you would say that on the other hand let's hear him out then you tell me
what you think hoskinson shared that while working with ethereum he found out that while ethereum has
a layer one programmable blockchain that Bitcoin lacks ethereum does fall short in his opinion when
it comes to scalability and status as a proof of concept as a result it is not the most ideal for
usage when it comes to large-scale government level or Enterprise level applications moreover
Hoskins and states that ethereum's proof of stake mechanism favors hypercentralization with poor
staking economics this discovery inspired him to create the cardano ecosystem granting a superior
proof-of-stake framework proper decentralization and staking economics in his opinion you tell me
what you think in the comments below to Charles hoskinson I say it sounds good now let's see
cardano start really gaining market share from ethereum in other news kraken's defiant new CEO
will not file with the SEC I'm listening incoming Kraken CEO Dave Ripley says that his company
Kraken does not intend to register with the SEC he insists that Kraken does not list assets that
are securities and says that it has no plans to do so Ripley currently serves as kraken's coo he will
secede succeed Jesse Powell as CEO as announced this week Kraken will not register with the SEC
because they do not list Securities I love it my question to you is Kraken lists a lot of
different coins take a look at your screen Kraken lists a lot of different coins telling me that
none of these are potentially unregistered Securities or Securities of any kind hey
okay sounds good but again tell me what you think in the comments below speaking of unregistered
Securities xrp jumps 44 in a week after Ripple moves to dismiss SEC lawsuit just updating you on
the Ripple case both the SEC and ripple have filed motions for summary judgment each asking the judge
to rule in their favor without a trial finally I want to share a clip with you the end game for
chain link the end game for chain link is for the network to provide all of the data and computation
that blockchains and Trust minimized systems need but cannot produce themselves clearing the path
for a world powered by truth take a listen to this clip chain link founder Sergey and tell me
what you think this is an update on the direction that chain link is going hope it provides you with
value the end game is that Oracle networks provide all the trust minimized computation
that blockchains and Trust minimized systems need but that blockchains do not produce right
so blockchains will produce ownership token transfer State changes private key signatures
multi-sync they will continue to produce all of these computations in in various collections of
blocks whether those blocks are on a main chain or whether they're on a collection of smaller
chains connected to a main chain and and that is where a certain core logic certain transfer
of value certain Key conditions to private key signatures will continue to become fulfilled
but then all of those conditions will continue to need more and more data
more and more trust minimized computation and more and more cross-chain communication those are the
first three big categories that the chain link network is focused on and then many of them has
a leadership position anywhere from the 60 to 90 percent plus range in terms of the value secured
in a specific vertical or by user count and this is because um well we've invented this new form
of consensus we've pioneered it together with a lot of great academics that that we work with
um from the top universities and now it's kind of becoming expanded to do more and more
advanced computations more and more advanced data and soon relatively soon uh cross-chain
communication which includes token movements but actually allows people to string together those uh
different contracts on different genes much as I was trying to string together many different
blockchain protocols into a single useful application many many years ago so this is
not I would say a new idea for us it's an idea that has formed on the basis of what
um is needed to build useful smart contracts right so our goal is to enable the larger industry and
the world really to have useful smart contracts and while tokenization is very useful it's a
very good beginning for our industry I think it is probably a single digit percentage point
of the total value that will resign in the trust minimized systems of our industry like blockchains
in order my name is Aaron at altcoin daily thank you for tuning in subscribe to the channel join
our team tap that like button if you appreciate the daily content and I'll see you tomorrow