Daily: Poloniex Sells Out!!!

So what's up guys? I'm at a different location today. I'm here in Hong Kong. I'm doing a lot of research to find out what's happening on the ground here in Hong Kong. But I want to keep you guys updated on a little bit about the news as well. So we're going to cover the breaking news of yesterday. Basically, Circle buying up Poloniex. And I'm going to voice some comments on that. We're going to talk about Craig Wright getting sued. Apparently he's being sued for like 10 billion right now. And we also have Core. Bitcoin Core is releasing their latest version with SegWit support. So we're covering all that today in today's episode of BoxMining Daily. Everything covered here is my personal opinion, not financial advice. And if you like this video, please share it with your friends. So let's start off with number one news. So Circle buys Poloniex. And it doesn't seem that big, but they offer $400 million to buy up Poloniex. And the backers behind Circle, they're Goldman Sachs Baidu. So they're big, big financial backing. And these guys are buying up crypto exchanges. So A, it first goes to show basically how much interest there is from traditional institutions now into crypto space, right? They want to have their foot stamp in there. They want to buy an exchange that's been running for a while. But the problem with Poloniex is that they really haven't listed something for a while. So it's not like the hottest exchange anymore. We've got new exchanges like Binance that really suddenly just popped out out of nowhere. So what does this all mean? Well, it does mean Goldman back companies are coming to this space. And this is going to drastically change the whole gameplay. Before, all these exchanges were just run by five, four people, you know, kind of just for fun. And there was a lot of risk in these exchanges. Right now, with these bigger parties coming through, it means that, of course, we can get a bit more security. It's still going to be centralized. I think this is the key point to figure out here. But this is still going to be a centralized exchange, but it might be offering a little bit more trust because, of course, there's a bigger, bigger company behind. Of course, with the true crypto people, we're all looking at the decentralized exchanges. That's what excites us because that allows us to have full ownership of our funds. One thing I really covered yesterday as well is not just see what Goldman is saying because Goldman public have been saying that, well, cryptocurrency is a scam. It's a fad. It's going to pass over. But they're bad companies. They're buying up cryptocurrency exchanges. So look at what they're doing, not what they're saying. This is what's important. Big companies are buying up this infrastructure because they know that crypto has a solid foundation. So definitely not a scam here, guys. Next up, we have Satoshi himself. So Craig Grant has been claiming to be Satoshi Nakamoto. He's been saying, yeah, I created Bitcoin to use the extra little bit of fame. Of course, cryptocurrency community has been quite skeptical of this claim for a while. But what's really being put to the test is now he's being sued for $10 billion. So the plaintiff that's suing him is claiming that he's sold hundreds of Bitcoins at a previous time. And if he's really Nakamoto, then he's going to have to pay up that $10 billion fine. Everything's so crazy in crypto. We really don't know what happens next. Lastly, Bitcoin Core, guys. So we've been talking about SegWit on this channel for a while. So SegWit's a different way of packing blocks. It's a new address. You get the three address in front for Bitcoin. And if you use a SegWit address, it's cheaper to send transactions, but it also takes less space on the block. So we're doing block wait now, and it can fit more SegWit transactions on. So way to scale Bitcoin because we can pack more in the same amount of space. Now finally, with the new release of Bitcoin Core, you can now support SegWit addresses. So it's going to be a big change for people having Bitcoin Core as a wallet. But we see more and more industry adopting SegWit as well. So recently we saw for Coinbase, they're using SegWit transactions. And that's why Bitcoin transactions are going down over time. And this is something that's going to hopefully be like a bandage to the current bleedout of Bitcoin transaction fees. And only time will tell if this can be improved by the Lightning Network, the current congestion can be improved by the Lightning Network. And today one thing that was quite special is I got to talk to Eric Gu, the CEO of Metaverse. And he's been in the China blockchain space for a long time. And the cool thing about him is that he's quite optimistic about the future of blockchain in China. So yesterday we were talking about how China was sending mixed messages. They're saying blockchain good, well, IPO bad. But what he's saying now is that there might be more and more channels open up in China for potential blockchain and different research and development. So he's a little bit more optimistic about this now. And hopefully those restrictions, that travel restrictions that we're talking about yesterday, hopefully they won't be as strongly enforced in the future. Guys, I'm filming in a different location. I hope you guys like this new cool space. Tell me if you want me to report more videos here. It might be quite cool to just go out of the house for a time. So I'm really happy to be out and I hope to upgrade you guys from this place in the future as well. Leave a comment down below if you like it. And of course, remember to click that subscribe button to subscribe to more videos for more daily updates from me. And also explain the videos of how technology works. Thank you guys so much for watching. See you next time. So why was he being screwed again?