00:00:00: Hacked Bitcoin, what happens to it?

00:00:03: Crisis at Ethereum and will it affect other blockchains.

00:00:08: And Ripple Stablecoin is getting institutionalized.

00:00:13: That and more in the crypto talk this week!

00:00:27: This

00:00:30: video is not a financial advice.

00:00:34: In this week's episode, we'll focus mostly on Bitcoin but will talk about the crisis that goes in Ethereum network.

00:00:42: But it has ripple effects of course onto other networks as well and then at end also quickly look at XRP chart too!

00:00:52: First let start with a new story right here because in UK there was quite big story going.

00:01:03: Bitcoin has been moved to the UK by Chinese hackers, or should I rather say scammers?

00:01:10: Because this lady right here who is a Chinese national she has fled to Britain and was jailed last year.

00:01:18: And now the main discussion.

00:01:20: essentially what happens to the sixty one thousand bitcoin that was more or less seized?

00:01:30: A lot of people are saying, well by UK law it should stay within the UK or should be kind of paid out to.

00:01:47: Like it will be the Chinese law that ultimately decides what will happen with these sixty one thousand Bitcoin.

00:01:55: This is some of the biggest fraud cases, That has ever existed between twenty fourteen and twenty seventeen when The bitcoin price was actually quite lower.

00:02:05: so the fraud Is even bigger today as It was back then.

00:02:09: now obviously the chinese national Has fled to the UK?

00:02:12: As kind Of built her life there but she got jailed last year.

00:02:16: And Now discussion is, of course.

00:02:18: What will happen to the sixty one thousand Bitcoin?

00:02:21: Now usually what happens in a court case?

00:02:24: these bitcoins we'll get seized by government and then paid out via insolvency Court or kind of insolvent or bankruptcy case rather And they would usually decide how many Bitcoins are payed to whom etc.

00:02:40: now if you move through the bitcoin chart right The Bitcoin chart has moved down to our kind of second bigger area here, just shortly touched it and then went back up to our third range right now.

00:02:56: And that's still at the bottom an I would say eighty three thousand for now is in okay price but ideally you will see a move up towards ninety thousand US dollars fairly soon.

00:03:08: Now, is it guaranteed?

00:03:09: Of course not.

00:03:10: There's still a lot of kind of uncertainty in the coming months.

00:03:14: The midterms are coming up.

00:03:16: obviously Donald Trump will need higher prices over-the-board ideally also on the Bitcoin price.

00:03:22: So we'll see whether the ninety thousand US dollars Will come into effect.

00:03:27: Now, next kind of bigger news story.

00:03:29: And I might have mentioned this a story also last week but it's quite the big story because right now The main discussion in crypto is essentially the post by Justin Drake who was a researcher at the Ethereum Foundation.

00:03:44: he has calling for something called bunker mode and Bunker Mode essentially means moving their crypto to an address that's completely new.

00:03:54: So take your Ethereum, for example.

00:03:55: then you would move it to a completely new wallet That has no public key at least in public and the main idea behind It is essentially The cryptography systems that block chains use And thats not specific To just ethereum but also to ethereum of course Is essentially In danger.

00:04:16: We are currently talking about the quantum danger that is, some say maybe a couple of years.

00:04:22: Maybe ten plus years nobody really knows.

00:04:25: but The other main issue is essentially Justin Drake saying That the AI innovation coming so fast that Essentially the cryptography we're using in the blockchain industry might be obsolete In just a few months.

00:04:41: I'm not here to kind of create a panic or something, but slowly.

00:04:45: what surely people should move their assets towards.

00:04:48: Bunker mode which again essentially means no public key available and if there's no public he ideally the AI agents are the rogue agents let's call them cannot attack any kind of asset that is not visible.

00:05:04: however there are still attack vectors that we don't know.

00:05:07: And this is what Vitalik Butting is arguing as well, he's saying I don't recommend anyone scramble to move their funds to new wallets today.

00:05:15: He's saying that there is an essential risk for that and they're multiple risks.

00:05:20: on one side of course you would lose your assets because you have entered the wrong address.

00:05:24: The other thing is... They aren't sure whether the new algorithms potentially quantum resistant algorithm will be safe enough for this new wave of AI attacks.

00:05:36: And that's why he is saying, they need to test it first before actually moving now.

00:05:42: all in all there was a huge kind from a lot of crypto people saying there were essentially two camps.

00:05:53: One camp is saying, look this is overblown the risk is not that much and if there's a risk The banking systems are also at danger.

00:06:01: And the others are saying well This Is A Real Risk?

00:06:04: You need to move your assets right now so Move them To Quantum-Resistant Blockchains or Two blockchains That Would Take Care Of That.

00:06:11: Now Obviously Ethereum Is Planning To Be Quantum resistant In The Future.

00:06:16: They Are Not Right Now.

00:06:18: other blockchains are, and there the main discussion will be of course what is going to happen.

00:06:25: Now Ethereum's price has corrected down upon this news I must say so.

00:06:30: essentially they were between two thousand seven hundred, two thousand eight hundred.

00:06:35: And then it corrected down and stayed there just at this kind of major support level off two thousand four hundred ninety US dollars.

00:06:43: It's pretty much at the level right now?

00:06:46: I do believe that we will see a bounce.

00:06:48: however A lot people are still very scared about what is going on regarding This whole quantum discussion or AI danger discussion.

00:06:57: to be honest We won't to know for sure.

00:07:00: Again, the banking systems are also at danger but other people saying well they might get a heads up from entropic and open AI if there is.

00:07:13: Now, last but not least we're talking about Ripple specifically Ripple stablecoin RL USD because the institutions are interested in that asset and standard charted is officially offering that to their institutional clients.

00:07:30: Mainly the RL U S D as a stable coin again has a collateral for specific products they're planning And the idea is that the bank would allow the RLUSD to become like a collateral for other assets as well and then you could use those assets.

00:07:49: to use them or trade them as well.

00:07:52: Now for the XRP chart, not a lot has changed kind of a major range still in here and you can easily trade this from around at one dollar twenty nine up to around a dollar fifty six.

00:08:06: I wouldn't rate this beforehand.

00:08:08: so essentially You want to see whether there will be a breakout because we already saw two fakeouts Here One And Two just recently.

00:08:15: So ideally

00:08:40: trading and investing care risks, including capital loss.

00:08:43: CFDs in digital assets are volatile.

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