Daily: Telegram banned in Russia. Verge (XVG) Scam?

Hey everyone and welcome to Box Mining Daily. Today we're going to start off by looking at the market and the main movers of the day. Then I'm going to follow that with kind of the main headlines of what's happening on the news. Then the main issue topic of today's discussion is about user privacy. There's two key issues I want to bring up. One is about kind of Facebook and them collecting data from us. And the second topic I want to discuss is Telegram. So Telegram was recently being kicked out of Russia for not revealing user private keys. So not giving the government the rights to decode our communications. So I'm going to discuss why this is very important for the future. Why privacy and really keeping our data to ourselves is important and how cryptocurrencies can be involved in really changing that data privacy kind of scene for everyone. I do want to say of course that everything covered here is my personal opinion and not financial advice. So let's start off with the markets first of all. So it looks like a page of red on the markets today on CoinMarketCap. But that's because yesterday and the day before we had a major rise in the value of cryptocurrencies. So Bitcoin is pretty much holding at the really crazy prices. We're at $7,975. So very close to the $8,000 mark. So that's where we're really seeing that buy resistance. Right now we do have the weekend. So now the weekend dip is usually a phenomenon that is observed in cryptocurrencies where on the weekends with the prices of crypto does seem to fall a little bit. Right now the biggest droppers are the ones that really increased a lot over the past few days like EOS. EOS dropped by 10%, 6% for Cardano as well. So there are some market movements but really that's just kind of like pulling back a little bit from the phenomenal growth we have over the past few days. The market has always been very very volatile and especially we've been seeing more and more theories to put up of why we had this phenomenal green candle spike. You know the spike of almost $1,000 for the price of cryptocurrencies in less than one hour. Well there is definitely kind of suspicion of foul play here or at least market manipulation by a few big players. Well this is very hard to track down because not only do we get data coming from the exchanges but it's also important to view the offline exchanges too. One thing I do want to say that is quite important is that even though we are we kind of assume that it's big buyers pushing this perhaps it's the fact that Bitcoin is considered halal now. But one thing is for sure is that big players especially smart money this is the thing that everyone is kind of hoping that will come into the space. They're smart so by definition if they want to buy a lot of crypto they don't want to immediately buy that and take the prices off to the moon. In terms of the headlines on reddit slash cryptocurrency we have verge coming up again with multiple red flags. So what's been happening recently is that verge prices have been going up because there's this potential announcement of the biggest partnership in the world. wow that's a big key phrase here but one thing that is quite suspicious that's that they were charging money asking for donations for people to review a partnership which just shouts out scam. But you know supporters are still supporting the prices are still going up despite all this potential FUD. So now the latest dig is that verge is claiming that they're using some of the funds that they raised for their partnership to integrate with ledger. But ledger CTO came out yesterday and said you know what he's not aware of anyone on his team you know the chief technical officer is not aware of anyone on his team working with verge. So that's a big red flag over there. VeChain is also making the headlines they're the only company selected to be competing in the luxury lab hosted by LVHM. And if that sounds familiar with you that LV name well that's because LV is really standing for Louis Vuitton here. This probably isn't a big surprise for you guys because you probably know that Sonny Lu the CEO of VeChain used to be the chief technical officer of Louis Vuitton China. So they know exactly what LV wants in this situation. Now moving on to the main discussion of the day which is privacy. So we've been discussing this for a while you know how Facebook had a whole delete me campaign over exposed user data that was sold on to Cambridge Analytica. Well there is one clarification I do want to make that Facebook didn't directly make the sale but it was a vulnerability of the system which allowed user which exposed the user data and this got sold onwards. It goes to show how valuable user data is and one thing I do want to say is that Facebook isn't the cleanest party here too. Whilst they're claiming that they weren't the one benefiting from the sale they do collect a lot of user information. In fact Facebook was originally backing a campaign to kill California's proposed privacy law. The proposed privacy law was meant to give consumers in California the right to know what data companies are collecting and who they're kind of selling it to. So this was meant to be a bill to allow data disclosure but Facebook and Google all formed together to form this group to try to kill that bill so they don't have to disclose what data is being collected how they're invading our personal space. That's how ridiculous this whole situation is. So yes it's good that Facebook is backing away now that you know we're all eyes on the senate are on them but honestly why did this even have to happen? Why wouldn't they promoting data and user privacy? This is ridiculous because once they start centralizing everything this was a gradual trend towards invading our space and then secretly doing deals to sell our privacy and this is something that blockchain can really fix because we've been seeing decentralized solutions to this and one thing about cryptocurrencies is that we can protect our data using private keys as well. So the fact that right now you can't steal bitcoin it's also the same technology can be used to protect our personal data. This goes to show that centralized power once they start getting powerful they can start influencing politics and start shooting down bills that can protect our privacy and at the same time blockchain is a solution for building a decentralized app where the users control the network and of course have their data as well. So I really feel like we're on to something here and in the long term blockchain solutions are getting bigger and bigger applications in this space. Now another thing related to privacy is related to telegram. So telegram said recently that they're being banned in Russia after authorities tried to attack them in court and make them surrender user conversation logs this kind of universal decryption key. What Russia was trying to do was they were hoping that there was a universal decryption key which telegram adamantly says there's not and also if they don't build a universal code key or surrender these records then Russia's gonna ban them on the premise that well telegram is being used for terrorism. Well I do want to say that privacy is all right. Would you be okay with the Russian government came over and put like spugs in a room to monitor our conversations? No, we have the right to communicate with each other in privacy. Lastly, I have something exciting to announce. I'm being invited to be a speaker at the Futurama Blockchain Innovators Summit in Dubai. So this is an event organized by Coins Bank. This event features Brock Pierce, Mikko Matsumara from Pantera Capital and Data Dash. You're gonna meet Data Dash there guys. So I'm really excited for going to this event and I'll be showing you guys a little bit of Dubai as well. This is one part of the world that I've never ever been to before and I want to see their excitement for blockchain because there's a lot of talk in Dubai about building smart cities using blockchain technology and I want to see what's happening over there, what they're interested in and how that might affect the global markets as well. I'll put down a link for the details for the conference down below. Thank you guys so much for watching this video. Remember to click that little subscribe button to subscribe to my channel and of course the little notification bell to be notified of new videos when they get uploaded. Thank you guys so much for watching. See you next time.