Top Bitcoin Exchanges Fight to Stay Alive in 2020 (Crypto News)

hello welcome to bit boy crypto my name is ben every day i show you how to make money in cryptocurrency if you like money make sure that you click that little subscribe button and tap the bell for notifications so you never get a case of bitboy fomo it comes with a rash and a lot of itching uh but guys we're uh we're a little behind on stuff uh this weekend so uh today we're gonna be doing another uh you know video not in the studio studios right here guys that's right beside me um but we'll be back to those uh later this weekend uh we got a lot of big stuff going on over here at bit boy crypto uh we're building an empire for sure we got a lot of stuff coming out we're about to expand our space here gonna be building a new live streaming studio uh and things like that but today we are going to be talking about uh centralized exchanges versus decentralized exchanges and how they're actually starting to work together which is absolutely huge news uh crypto window will be on the show today to talk uh technical analysis of a centralized exchange coin and what has actually propelled it to go a little bit further uh and we're also gonna be talking about vellus they have a new coin or a new token that's been built on top of them it's the first vellus token we're gonna be talking about what that is why it could be such a big deal uh and things like that okay guys so i'm here on coin gecko and as you guys can see right here uh we have uniswap it's a decentralized exchange or a dex this means no one controls it no one is in power over this platform i just want to show you guys i want you to see this this is absolutely insane the trading volume for 24 hours 261 million dollars that is absolutely insane for how much trading is going on through this platform right now and it's not really going away and we know that there's always been a need for decentralized exchanges i just didn't think they would take off as fast they have um we look at this story here mount gox rehabilitation plan delayed again it was supposed to start on october 15th if you didn't know what mount cox was uh i lost money in this it was back in 2000 and early 2014 when the thing crumbled it was the biggest and pretty much the only bitcoin exchange anyone used there were some second layer solutions like bit instant where people get money quicker but mount gox was the only place people were really you know using bitcoin trading bitcoin or storing bitcoin i didn't know what a bitcoin wallet was back then i thought you had to have it inside of mount cox i didn't even know that's why i lost some money um but uh the thing is is centralized exchanges will always have flaws now mount gox is one of the five biggest things that's ever happened in cryptocurrency basically 400 million worth of bitcoin at the time which was a huge amount um it just got destroyed basically or removed overnight in a hack and you know people are trying to get their money back uh i'm getting a small amount back and things like that it's basically just crumbs it's not even that big of a deal but we're just waiting for this to get out of our life uh and so this has been delayed until december 15th we're hoping that uh this will be the end of this saga there will be no more mount gox mentions after this if you didn't know it mount gox stood for magic the gathering exchange so uh yeah humble beginnings of cryptocurrency uh but we're seeing other places start to kind of you know rise up we're seeing coinbase continue to rise and get more powerful okay coinbase now is going to sponsor two bitcoin core developers with new grant program so it's gonna sponsor two developers and this is where we get into the nuance of decentralization if coinbase is sponsoring two bitcoin developers does that give them say so on bitcoin block stream is a company that does a lot of bitcoin development uh and the the bitcoin developers themselves are supposed to be uh you know totally you know they're not under anyone's control it's decentralized right a lot of people have to sign off before there's changes to the code and things like that but what we're starting to see is there's more and more companies trying to kind of get some and this isn't good this is not good when we see these centralized exchanges getting more powerful how powerful are they well check this out they're so powerful that coinbase holds five percent of the supply mount gox owned a large part of the supply now we have coinbase owning five percent it's 11 billion dollars that they hold if bitcoin 10x is that's over a hundred billion dollars at the hold unbelievable now i want to say this i like coinbase pretty good i think coinbase is as far as these or as far as centralized exchanges go it's easy great for beginners and things like that but we know ultimately it's not too good to put your all your chickens in one basket or their eggs in one bushel or something like that um so you know the moon carl uh you guys know carly's on youtube as well uh he tweeted this out it got a lot of traction because it is alarming when you think about it um so let's look at what uh binance and coinbase are doing to get inside of decentralized exchanges because unit swap is so big they want a piece of this action right here the 260 million dollars trading volume they want that uh real quick though guys before we get into that if you guys want some action you guys don't forget to join my bitboy tinkerlabs bitcoin giveaway we're giving away a full bitcoin where you'll earn 12 interest for one year um we've added a new way to enter the contest all you got to do is just retweet this about the giveaway it's worth the most amount of points so you guys definitely make sure that you go do that um and we will move on from there also guys don't forget i'm doing a huge giveaway on wearable this weekend uh these are the remaining cards that we have uh once we sell all these cards um we've got a brand new release coming out next week it's gonna be awesome it's a totally new series uh a take off on some pop culture and the bit boy characters it's gonna be really fun all you gotta do is just own any of these eight cards here and we're gonna be picking three winners who owns one of these cards we're gonna randomly draw the card you're gonna get 5 8 if you win three ether second and two each for third so we're gonna pick three owners of these cards right here so but back to the exchange conversation uh huobi dragonfly and coinbase have all invested 500 000 in a new decentralized exchange with alternative solutions now we know huobi has a lot of drama going on um or actually never mind that's okay x that has drama going on not even hilobi uh hyoubi is doing pretty good but they are in china so they might have some uh issues there um but now they're working with nest which is an oracle solution um and the actual dex itself is gonna be called a co-fix i know it says there somewhere cofix claims to have better token price feeds based on a pricing mechanism derived from a decentralized oracle called nest in the dex's risk assessment model you're going to see more and more of these centralized exchanges trying to dump it jump in decentralization it's a good narrative for them as well you know we're supporting decentralization as well we have binance their new platform is going to connect c5 which is centralized finance and d5 so we're going to have decentralized finance linking with centralized finance or d with c or c5 d5 whatever it is and here he is out front and center cz pumping this he's pumping d5 why would they do that they understand it's the future and that's why cz is such a smart guy and brian armstrong is such a smart guy not only does brian armstrong have a great last name and uh you know not the armstrong with the best hair obviously but these guys are smart they know how to move their platforms forward and they see the shifting narrative they see what's happening in crypto they see it's moving to decentralization and their business will not survive unless they do that so what is this meant for uh binance coin well check it out guys even though it's down slightly today look at this chart it has been on the rise if we look at the seven day chart you'll see about the time they started talking about moving to decentralization as well the price has been moving upwards so it's that time of the week let's bring a crypto window on and ask her what's going on with the bnb coin is it still good investment how are you doing wendy let us know what's going on with bnb thank you for having me back bit boy and shout out to the bit squad so on today's show we are going to take a look at our next moonshot bnb finance token so this potential moonshot would put us at a 26 to 32 pump pretty easily and if we are able to break all-time high at forty dollars we should be able to hit fifty dollars giving us a sixty six percent gain so we're taking a look here at the daily chart currently we are sitting at about thirty one dollars if this goes ahead and pumps right from this price point at 31 and we will hit 40 and that would be a 32 game however i'm kind of feeling like we're going to have a bit of a correction and possibly fall down to about 29 if we do that and then pump from 29 that can be a 33 gain so let's go ahead and take a look at the four hour chart so i can show you what i'm talking about i went ahead and drawn this trend line here it is not drawn 100 accurately i just wanted to draw it to show you guys that yes we are in an uptrend but right now the four hours looking a little bit weak taking a look at macd we we just completed a bear cross and we're starting to lose a little bit of momentum that is okay because if you take a look at the support area that i have drawn at about 29.20 this is also where the ema 50 lies so if we do in fact pull back this would be a perfect area to take a look at back to the daily chart so taking a look at the daily chart um what i want to do is go ahead and toss on some fibs for you guys so we're going to take our fibs draw from this high area here of about 40 and then pull it down to this low area here yes i'm pulling fibs from the whole entire price action history just to kind of show you so this area here 1.272 is about 50 dollars so that would be the next target area that we would see once bnb breaks all-time high and i do believe that b and b will break all time high it's just a matter of when will that happen but if we take a look at that price pump and if we we fall back here to 29 and then we rise all the way to 50 that is a 67 gain pretty close to about 68 again you guys please make sure to practice risk management take your profits and watch for your trigger areas as always thank you to wendy for coming on the channel we appreciate you you guys don't forget to go subscribe to her channel uh you can find her just by searching crypto window on youtube she's gonna be on with us every week we certainly love wendy all right guys let's move to fellas now velos is a project i've worked with for a long time haven't really given you guys any updates on them in a while i kind of have a partnership with them in some ways um so you can interpret that as sponsored or not they're not paying me for this video but i do work with them so okay we got velus here coming in uh up 1.37 against bitcoin up almost one percent uh as you guys can see it's it started to come back we started promoting it talking about it about right here price went up price went up price went up all new all-time highs got on coin or got on the top 200 coin market cap and it tumbled it is started back on an uptrend you guys can see it very significantly right here and it's got some big news okay now if you're not familiar with velocity check them out at but the big news is they finally have their first token and this is how they're getting into uh yield farming and decentralized finance it is called the simblocks yield farming it is syx is the name of the token um it is launching in a matter of days opportunity to look at it um let's move down here uh and look at the sim blocks open finance protocol the yield farming is going on top of it now i'm hearing uh that the yield for me right now is absolutely insane people are getting like 2 000 api that won't last forever first movers you definitely have the advantage on that but simplex is a cross-chain synthetic asset issuance and derivatives trading protocol getting into d5 token built on vellus users can stake any tokens asset that supported by the protocol as collateral once at stake users can meant synthetic assets that can be traded on the protocols exchange in turn the protocol rewards users with its government or governance token syx it's not the first project working on derivatives trading many have already done it and they've done a really good job but what symbolox wants to do different is to increase the liquidity for the derivatives market and that's you know increasing liquidity is something that really is a catch 22 for a lot of people and this is what i'm finding with with my work on on wearable with bit boy collectibles here okay is that people want to see the prices of their coins go up but yet they get confused when more people come they get mad you know we need these markets to get bigger we need to bring new people into the platform that is how we take things to the next level that is how value goes up and it's something really important for people to understand we're not going to make money in cryptocurrency unless we're continuing to innovate we're continuing to push the space forward and more people come to see things from our perspective so that is really really important to do um so you know syx here is something that is running on top of ellis and has a good chance to kind of be you know uh you have a good opportunity to be a early mover on their yield farm farming uh mechanism that's what's happening right now with the yield farming uh here's a graphic that shows exactly how it all works you get rewards in syx token lp stands for liquidity pool token uh so you've got your sea pool connector your liquidity token and vlx are going back and forth between the seed pool the reward managers are getting these lps and divvying out the governance token and syx and then this is how uh the user takes vls or vlx stakes it gets the liquidity pool token goes to the connector that goes over here the roar manager war manager divvies them out and then that reward comes back to you uh it looks like about four hours to drive that route but there are these robots in these uh machine learning ai and all that stuff they can do it in like a millisecond so don't you wish they could have driven you to disney world when you were a kid instead of your parents that's what i'm thinking uh but anyways guys that's going that's what's going on here with uh with yield farming with simblocks with velas you guys make sure to check that out uh you guys can find embellish obviously on coin market cap and do your research from there their website is but it's really exciting to see you know they've got their own chain and they got stuff coming on top of it it's pretty cool so that's all i got for today be blessed good way out [Music] you

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