Daily: Bitcoin USABLE NOW???!!1

Today on Box Money Daily, we're waking up to a sea of red. What does that mean for the future of cryptocurrency? We also have Bitcoin transaction fees. It seems like the woes are over, the double digit transaction fees are gone, replaced by single digits. What does that mean? Why is this happening? We also have Tesla's cloud computing. They've been hit by a cryptocurrency mining malware attack. Does that mean they can't protect the computers? And more importantly, does that mean that Elon Musk is not Sikoshi Nakamoto? Lastly, we have Venezuela. They're issuing out their own ICO called the Patro Token. Why? This and more on today's episode of Box Mining Daily. My name is Michael. Everything covered here is my personal opinion, not financial advice, and I'm not a professional financial advisor. So let's start off with the cryptocurrency markets. We dropped by almost $40 billion today. It seems like we're waking up to a living nightmare, a sea of red yet again. We have double digit drops for some cryptocurrencies like Bitcoin Cash or Litecoin, whilst Bitcoin and Ethereum both taking a 6% hit. So it does seem like there's some more consolidation going on. But the good news is that the Korean premium is increasing. So it seems like the Koreans are willing to pay more. They're coming back from the holidays and maybe Asians might try to push up the price of Bitcoin again. The top thing that people are noticing today are Bitcoin transaction fees. They're dropping from double digits, $30, $10, maybe even $150 from earlier in January to less than a dollar today. Why is that happening? It seems that more and more exchanges are using Segway addresses. Segway addresses are meant to be able to pack more information in the same block weight. And that means that we can fit more transactions in the same amount of space and thus create less congestion for the network. So it seems like right now, because of what the exchanges are doing, it seems like they're cutting down on the amount of traffic and that's leading to slightly cheaper transactions. Yes, this is not enough to buy, of course, your cup of coffee, but we're trying to wait for tier two scaling as well. So it seems like right now that Bitcoin, it's not catastrophic in terms of transaction fees. Coinbase has recently announced they're going to use Segway addresses starting from next week and other exchanges might follow suit as well. So this means that eventually we're going to have less and less traffic. And hopefully that's good for Bitcoin users. Next up, we have Tesla's cloud computing. So this is something that hackers are really happy to do right now. They're injecting these mining scripts into our browser and eventually they'll want to hack cloud computing as well, because if they get the power of that cloud to mine cryptocurrencies like Monero, that means they can make money for free. So it seems like Tesla's being breached. They've been hacked quite quietly and the hackers are getting really, really smart. And this is something that might happen on the browser side as well. They're not using all of the computer resources. They're trying to lay low a little bit, trying to be stealthy and they're using stealth addresses. Next up, we have Venezuela's petrol token. So it's meant to be a new cryptocurrency issued by the government. Last year, Venezuela made the headline because they're experiencing hyperinflation. Their inflation rate has gone to almost 300 to 3000 percent, depending on how you rate their inflation. So of course, the citizens are very concerned and they're trying to issue out this new token pegged to their petrol, their kind of country's produce. Of course, this has been getting a lot of attention in terms of world governments and mainstream media. But I really think in the cryptocurrency community, this defeats the idea of cryptocurrencies. Crypto is meant to be decentralized and issuing out a token sale for your resources doesn't really make that much sense. It doesn't really help with everything. Complications with the launch as well. They switched from Ethereum for the token to NEM. So this would seem to be a last minute decision and it seemed like it caused a lot of drama in the government. So you can follow that here. There seems to be a lot of politics involved on how they're going to issue this token and it was very, very messy. Thank you so much for watching. I'm trying something different this year with a slightly shorter daily news. So I'll love to hear your comments below if you like the shorter format and what you think of the articles discussed today. Do you think that Bitcoin is more usable now that it's cheaper to use and send transactions with? Leave a comment below and I'd love to hear what you think. I also have a small announcement regarding the Telegram channel. So the Box Nation Telegram channel has currently been closed. We're trying to do some housekeeping to clear out the people that are constantly sending spam to get a greater and more meaningful chat. And it's been working so well so far. We're going to open up that chat again channel. So I hope you guys can join that soon next week and hopefully we're going to build the best community possible. Thank you guys so much for watching this video. Remember to click the little subscribe button to subscribe to this channel and the little notification bell to get notified of new videos are released. Thank you guys so much for watching. See you next time.