as admiral akbar said in star wars it's a trap this is a trap all right welcome back everybody to 
altcoin daily where you subscribe because you're   interested in making money with cryptocurrency and 
this channel keeps you informed my name's austin   in today's video i'm going to update you on the 
latest news involving cardano involving ripple   involving lower cap altcoins and then even lower 
cap alt coins so like always check the time stamps   down below in the video description and let's 
jump in starting with a top story of the day   crypto tax strife continues as the senate delays 
vote the question of which entities in crypto   are liable for tax reporting obligations has 
yet to be settled so this was supposed to be   voted on yesterday there is a crypto section in 
the us's multi-trillion dollar infrastructure   bill if you want the basics on what exactly that 
infrastructure bill is and how it affects crypto   seek out our two videos from the prior two days 
we covered the basics heavily but the update for   you today is that the senate didn't find time 
yesterday to vote on the two rival amendments   that determine which crypto entities must provide 
customer information to help pay for joe biden's   one trillion dollar infrastructure bill so it 
got pushed they didn't have time and it's now   expected that the senate will convene today to 
vote on the amendments in fact we can check in   on a live stream right now this is live this 
is happening live the senate is debating the   infrastructure bill they haven't even gotten 
to the crypto amendments yet but i will post   this live link down below if you guys want 
an exact play by play of what's happening   now some good news and if you follow us right now 
on twitter you probably saw this from yesterday   just in senator ted cruz has filed to 
strike the crypto regulation from the   infrastructure bill entirely and it's just 
been filed nothing official has happened yet   but this option is way better than either 
of the two amendments because this option   doesn't force us to have to make hasty decisions 
that shoved in to a broader infrastructure bill   so our u.s senators are hearing us this was 
ted cruz yesterday regarding the crypto bill   the senate is on the verge of passing legislation 
that would be terrible for cryptocurrency   the infrastructure deal contains dangerous 
provisions that would devastate crypto and   blockchain innovation supporters of 
crypto need to make their voices heard   and shortly after this he filed to strike the 
crypto stuff from the bill and where we stand   today we're watching we're waiting nothing we'll 
notice hopefully this decision is made today but   nothing will probably happen regarding the crypto 
stuff or just the bill in general to late tonight   so what you can do right now if you want 
the most up-to-date information follow us on   twitter i'm watching i'm waiting i will update 
you as soon as anything happens or like always   in tomorrow's video we will cover the most recent 
news that affects you first piece of altcoin news   cardano smart contracts start at the end of 
august we have a fresh new update from charles   in a recent interview the cardana founder is 
in a good mood and full of confidence about the   upcoming upgrade of the cardano chain the update 
is all tests were satisfactory the level of bugs   is very low and most of the errors detected 
could practically be eliminated in passing   so that's what a test net is for right to work 
out all these bugs therefore from august 9th   forward the test of the new smart contracts 
functionality will be expanded to include   crypto exchanges and wallet developers so far 
cardano has been running its test net since may   only on the internal infrastructure of the network 
and now they're expanding now what to expect next   as a cardona holder in mid-august probably towards 
the end of next week charles will report back   with two very specific dates the first will be 
the planned time of the smart contract upgrade   and the second will be the fallback time 
this would only be relevant if the team   were to find reasons for a postponement 
shortly before the actual start date okay   i'll take it we are zoning in on the exact launch 
dates and just to sum it all up where we stand now   probable time august 31st 2021 actually that's 
aaron and my birthday accordingly it is realistic   to expect the so-called hard fork combinator which 
is cardano's method of performing mainnet upgrades   to start around august 26th since it would have 
to be triggered three to five days before the   actual update the mainnet integration 
would then take place on august 31st   if the fallback date is used the upgrade would 
take effect in the first week of september   okay i will keep my eye on this i will keep 
searching for updated information by the way   be sure to check out our clip from our recent 
raul paul interview just dropped this morning   raul paul big ethereum bull gives his thoughts 
on cardano check it out link down below   next piece of news for ripple and altcoin xrp 
ripple to soon see defy smart contracts and   federated side chains so this was just announced 
on their blog the federated side chains and ripple   confirms that federated side chains are coming 
the implementation will vastly increase the use   cases of the xrp ledger including being able 
to defy nfts and smart contract capabilities   interesting so i wonder which nfts will choose 
to launch off ripple why would you choose ripple   instead of ethereum no hate honest question it's 
interesting to see all these options popping up   in a direct quote you asked we listened we've 
introduced federated side chains to the xrp ledger   so you can enjoy the power of the xrp ledger 
on a side chain that acts as its own blockchain   learn about new use cases like native dpi 
capabilities and smart contracts all that   on their blog and while the company confirms that 
cross-border payments remain its bread and butter   federated side chains will open up a world of 
possibilities for ripple going into the future so   this unresolved lawsuit by the sec is not stopping 
ripple they are pressing forward and in terms of   what defy what dapps will be put on ripple many 
many people suspect their aim is to get central   bank digital currencies what's more speculation is 
mounting that ripple has its eye on a bigger prize   namely using sidechains to capture 
the central bank digital currency   cbdc market so right now countries like japan 
and europe france specifically i think are   using tezos and they're using ethereum just 
to test the waters and do tests of cbdc's   ripple wants a piece that action in a direct 
quote from ripple cto david schwartz in a recent   interview on thinking crypto friend of the channel 
the general idea is to enhance the utility of the   xrp ledger by essentially having additional 
ledgers that sort of literally sit to the side   of it if you try and put everything on a single 
chain what happens is the chain gets slow and   it gets expensive and it degrades the ability 
of the people to use it for simple payments   which is of course ripples bread and butter cross 
border payments in a direct quote regarding cbdc's   we're also working on a fresh approach where 
central banks will be able to join a network   of cbdc ledgers that enable full settlement 
interoperability while allowing each member to   retain their monetary and technical independence 
so to be clear while today's announcement on   federated side chains did not mention cbdc's it's 
hard not to put two and two together so if you   hold xrp give me your thoughts down below the main 
announcement for today is federated side chains   are confirmed as more updates get announced 
i will keep you updated like always   next piece of lower cap altcoin news wu-tang 
clan's method man to launch an nft comic book   series the nft will include exclusive artwork 
music animation and apparel and why this may be   significant to you is because the cryptocurrency 
that method man is choosing to launch these nfts   off of is the flow cryptocurrency flow altcoin 
wu-tang clan rapper method man is launching a   new comic anthology series as nfts the first 
part of his title world saga is called part   one origin and he is offering a lot of value in 
this the tokenized comic book will also include   unreleased music from method himself alongside 
a 3d digital animation of the origin story of   title world other bonus goodies include a gold 
vip card for title athletics method man's sports   clothing line and of course like i mentioned the 
comic is built on dapper labs flow blockchain   the blockchain which currently hosts the immensely 
popular cryptokitties and nba top shots nfts so if   you hold flow this is another one for you another 
potential win for method man pretty interesting   and next piece of news for even lower cap altcoin 
audience blockchain-based music streaming service   audience now has up to 5 million monthly users as 
well as more than 100 000 artists on the platform   including dead mouse and skrillex here are the 
details audies a music streaming platform that   runs on the ethereum blockchain hit a major 
milestone on thursday as five million people   a month now use the platform to stream music 
making one of the largest consumer applications   on any blockchain just as a reminder audience 
which launched back in 2019 operates closer to   a decentralized version of music streaming 
service soundcloud rather than spotify   and the reason people are choosing to go to 
decentralized versions of these platforms   is because blockchain technology has 
been touted by many in the community   as a way to make the monetization of art and music 
fairer in the digital age by giving creators more   ownership of their work as well as by clarifying 
the licensing and metadata issues that cause music   to be taken down from online platforms okay 
make sense and it's cool to see the progress   that audies is making i'll keep you updated and 
that is the video be sure to watch the raul paul   interview and clips if you haven't already really 
valuable insight and like always see you tomorrow

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