NEWS: Which BIG companies are secretly getting into Crypto / USDT is it Safe?

Yo, what's up everyone and welcome back to another action-packed news episode of BoxMining. Today we're going to follow up at the disaster that happened on Friday. The fact that Tether was accused of losing $90 million causing the whole foundation of crypto to shake and shudder. Next in terms of adoption, we got Nike, Jaguar, E-Trade. These are our consumer brands with a lot of customers and they're making silent moves to come into crypto. We're also going to look at the China front. They're using blockchain for copyright management. And in terms of mining, mining is not dead in China. Bitmain's just released new specialized hardware to mine different cryptocurrencies and miners are just buying this out. So all this and more on today's BoxMining. And if you guys are new to this channel or haven't subscribed so already, what are you doing? Subscribe to this channel, click that little notification bell. It makes you up to date and also helps this channel grow as well. Now guys, as always, everything covered here is my personal opinion, not financial advice. Let's jump right into it. Traditionally, we start off with a market recap, but it's a little bit different today. Mostly because Bitcoin prices are not uniform across the board. So the reason for this price discrepancy is that on those exchanges that's used Tether, some people want to get away from the Tether ecosystem. So they want to buy a Bitcoin, higher demand for Bitcoin means a price premium. Now the source of all this fear of whether Bitfinex or Tether is going down comes from the attorney general's office in New York. When they claim that Bitfinex has an apparent loss of $850 million. That's a hell of a lot of money. And they borrowed money from the Tether entity as well. So this is why everyone's a little bit afraid. If you want to redeem your Tether, can they even give you US dollars? Now there's two sides of every coin. Now Tether itself, they're coming back to say the New York attorney's office, the filing is filled with inaccuracies and false assertions. And what they're saying is that the lost $85 million, that's a false category. It's not lost, but rather it's frozen because Bitfinex has always had a bad working relationship with banks. So it's there just that they can't really move it around so much. So obviously there's two sides to every story. And Bitfinex shareholders, obviously they're going to be very biased here. They came out to say that they personally seen over $3 billion of US dollars held. So there's actually more US dollars held for every Tether out there. Now what's my take on this? And it's important to distinguish the short term from the long term. And that makes all the difference. Because in the short term, I feel like we're oversold. The fact is that there's a lot of fear out there. And it's caused by really old news. I mean, we've known since a month ago that potentially Tether has loaned money to Bitfinex. All of this was pretty much blown on the media and I talked about it. So the short term from it is a knee-jerk reaction. A lot of people freaking out because they didn't know this sort of information beforehand. And they might actually lose a lot of money. Basically, I've heard stories where people sold USDT for cheap during the last FUD wave. Maybe even $0.90, $0.85. Only to buy it back again when they want to speculate on altcoins. It's just crazy how that short term mentality really fails there. But I'm not trying to defend Tether in the long run. What I think is in the long run, trusting centralized entities to hold USD for us. That's extremely risky because being a victim of empty GOX, I know that some form of centralized entity always means that there's a point of failure. In terms of stablecoin, I've also been looking at DAI a little bit. So DAI is a crypto-backed stakeholder coin. So it doesn't have US dollars, but it has a giant reserve of Ethereum backing the price. Now, there's some interesting developments. I think one thing that this whole FUD wave has created is created a need for other stablecoins other than USDT. And definitely take a look at DAI. But it's not without their fair share of problems too. So the maker, DAO, CTO, that's the chief technology officer, the guy who makes all this tech happen. Well, he just left the company or the organization over this conflict between him and the CEO of this company. So this is kind of why it's still very hard to adopt crypto-to-crypto-backed currencies. There's still a little bit of drama. There's still fine-tuning of the system that works. And it's still centralized in many ways because it needs the team there to make sure that it's up-to-date and running and has the number of people. And in many ways, this is why it takes so long for me to generate reviews or talk about DAI. Because I think there's still a lot of things I still want questions answered to figure out before I feel like it's a mature enough project to talk about. But the good news is that as time progresses and as more people use it and are aware of it, DAI actually gets stronger and more resistant to any form of giant wild fluctuations. Now, on to the goodies of companies testing out cryptocurrencies. So first, we're going to start off with Jaguar. In Jaguar, they're adding support for IOTA in the form of smart wallets on their new cars. So what they're doing is they're trying to devise a system where drivers can A, get rewarded for good behavior. So none of that, you know, nasty cutting in lane and stuff. And also, they have this wallet for automatic pay or parking fees. So hauls and parking fees or even smart charging. For me, I definitely think this is a good on-ramp into crypto. The more people and the more companies that are willing to adopt or use crypto in any form, regardless of which crypto, I think that's really good because it gives more exposure. And once people have that first IOTA or whatnot, and they can experience the easy change of crypto and a transfer of value worldwide, that's a huge inroad for cryptocurrencies. Now, this is really cool too. Nike. Nike was spotted patenting or trademarking the word crypto kicks. So we might expect this in the commercial soon. All the other kids with the crypto kicks, you better run, better run, outrun the ripple. Oh, that's some terrible singing right there. But hope you guys can give me a thumbs up for just trying. So what they did is they filed a 1B trademark for crypto kicks. So it might be even use something like Air Jordans, you know, get some crypto kicks up there. We also got E-Trade. They have a 5 million retail user base, and they're looking up to open their retailers to Bitcoin and Ethereum trade. Honestly, the funny part here is that while a lot of people in retail and the general public, they believe that Bitcoin is dead and cryptocurrencies are over, a lot of big name companies are taking their silent march forward into cryptocurrency adoption. And that gives me a lot of hope for the next bull run that we have. So in terms of China news, we've got the Malansan Copyright Protection Forum. They're talking about using blockchain. This is blockchain right here. I'll try to make a translation sometime. But they're talking about using blockchain to track copyright over time. And this is something that we consistently see in China. I think there's this huge misconception that people think the Chinese don't care about blockchain or crypto is dead in China. It's far from the fact. The other bit of evidence that China mining is not dead is the release of new miners from Bitmain. Now, this is always a controversial subject because obviously with Bitcoin mining, you need to buy the specialized mining hardware. And the way it works, it's kind of like changing computers. Every few years, they release new updates and you got to upgrade. Otherwise, your efficiency for mining will decrease and you'll lose money when you mine. Now, what is released this time are Antminer S17 and T17 chips. And it's kind of interesting because it's two models and they're both based on 7nm technologies, the latest chip making technology. And we already see this S17 pros, they're getting souped up like crazy. Z11 as well. And the reason why for this is because miners are making money and they want to make more money. And it's interesting to see the choices that made. So the S17 is slightly stronger, but much more power efficient and much more expensive. But the cool thing is that they're all sold out, which means that miners are flushed with cash. They're not worried about making large investments up front, but rather they're worried about power efficiency in the future. And this is why these units here are sold out, whilst the T17 is still available. Personally, I think unless you can source cheap electricity, there's not much point in buying them. And before we go today, I'd like to thank everyone who is supporting or donating to boxmining.com via the Brave browser. So if you guys don't know, I'm a Brave verified publisher. That means you can actually directly send a tip to my website. If you don't know what I'm talking about, I don't have the Brave browser, check it out. You can use the download link down below. It also helps this website. And also once you get the browser, you'll see how fast it is. It blocks out ads. And more importantly, it blocks out trackers. So you see all these trackers and ads that spawn you. That gets blocked automatically by the Brave browser. So I definitely encourage you to try it out. And leave a comment down below about what you think about all these companies, Jaguar, Nike, E-Trade, all coming in, developing for the cryptocurrency world. You know, are you excited or are you apprehensive? You know, that maybe some of these ideas are too far-fetched and can't work out. I'd love to hear what you think. And let's have a discussion about this. And I also have two videos up on this whole USDT ordeal. So I'm going to put the link at the end screen here. And I hope you guys can catch up. If you have any questions as well, come find us on the Telegram group. I'll link that link down below. Thank you guys so much for watching. See you next time.