Daily: Binance to exchange fiat + Malta HQ / Ripple used by Santander

Hey everyone and welcome to BoxMining. Today we have a very short episode and I'm going to talk about what's recently happening on the news and some insight into the future of cryptocurrency. So I hope you enjoyed the episode. Everything covered here is my personal opinion and not financial advice. So let's start off with the biggest news first of all. So Binance made headlines everywhere after announcing that they're going to open headquarters up in Malta. And not only just opening headquarters in Malta, they're going to allow the USD trading pair. So previously on Binance, you know, they've been called a binary exchange, right? Binance, a buy means crypto to crypto. But now finally they're announcing crypto to fiat. So previously you were only available to trade for USDT, which we know as Tether and it's run by, well, Tether.io, which is closely connected to Bitfinex. But that isn't really the best way forward for all coins. It's just a lot of Tether scandals. So by allowing access to full on USD trading, potential USD deposits, that's going to be a huge change. This is going to change this from just a crypto to crypto exchange to, well, something that could be potentially as big as even Coinbase by allowing people to have a first point of entry. They no longer have to buy, you know, USDT or Bitcoin off Coinbase. They cannot directly buy crypto through Binance. So this is a really huge change. And well, they made two things as well. By going to Malta, they're regulatory very friendly and the Prime Minister of Malta even welcomed them into the country. So that's pretty big for both crypto and for Binance. Another thing that's quite big is that they're moving away from the headquarters being in Hong Kong because in Hong Kong they were kind of subjected to the SFC and they had a notice to remove security tokens. Well, right now what they want to do is they just want to move to a more crypto friendly country. And this is what's going to happen in the future as well. Every exchange or anything like that, they're going to try to find crypto friendly countries and some countries are opening them up to friendly crypto regulation. So, you know, that's the kind of solution to all this whole crypto regulation thing. There's going to be people that are going to just shift their business model, shift where they're going to be headquartered to adopt. And that's one thing that we have to always remember with crypto is that people can adopt and everything can move. And that's kind of the silver lining of those things. If a country chooses not to be crypto friendly, well, business is just going to go elsewhere. For example, Malta. Next up, we have some crazy movements on the market as well. So, you know, past few months even, we basically had every coin tethered together. But now we see these big, big movements. We have storm up 60 percent, metal up 44 percent, Bitcoin dark up 38 percent. So it does seem to be the case where, well, we're trying to breaking apart and we see the altcoins having fundamental shifts. Some people have pointed to the fact that, well, South Korea might be one of the sources of these fundamental shifts. But I think that's bigger than that. I think it just goes to show that the market is slowly moving away from what we are having, the kind of the feelings that we were having before. It seems like now that negative news isn't affecting the market as strongly as before. Maybe there's a little bit of hope for the future and for different altcoins as well. So suddenly, we're moving away from just looking at Bitcoin and every cryptocurrency as one coin. And maybe we're maturing in that sense as well. We have a breaking news coming out from Santandler as well, kind of one of the biggest banks in Europe and in the UK. And they're allowing their trialing cross-border payments with Ripple technology. I do want to make a distinction though, of course, the first comments here were always about, well, Ripple doesn't imply XRP usage because Ripple as a technology is very different from Ripple as a cryptocurrency. So they have two kind of systems here. One is called X, I think let me just check that up. It's called XCurrent and XRapid. So XCurrent uses the Ripple technology, uses the decentralized ledger, which forms a consensus on a very fast basis. So you can send pretty much transactions in real time. You can send anything on real time. So you can send UST, GBP, any fiat currency, or pretty much anything you want to message each other. Well, you can send that in real time and have it recorded on this Ripple ledger. But there's also XRapid, which uses the XRP as well. So it's kind of like building a bridge. You can send, say, GBP to XRP, and then from XRP to maybe like the Euro, and then send it to the bank. So you can use it as a way to send and even kind of exchange what they're calling using gateways to exchange currency. Right now, it seems like a lot of banks are adopting the Ripple technology, the XCurrent, but the XRapid is not being adopted. So there's always this kind of like battle between the two sides on the camp here. People are saying, yeah, we can, they eventually might use XRP. It's just one click away. And some people are like, nah, why would they? You know, they're pretty happy just sending USD back and forth or GBP back and forth. They can just use XCurrent. So that's up to debate, but it does seem like there's kind of like a little mini battle here on Reddit where the bulls are saying, yeah, the future is bright. The future, we're seeing these bull signals, head and shoulders, guys, head and shoulders coming up with the technical analysis. But also there are people saying, yeah, there's a warning here too. You know, don't expect this to be just like a pop like that. Don't expect easy money. Crypto, I think the past two months has really proven that it's not easy money, it's hard money. And you really have to, you know, find a good project and then wait. And not all projects can, you know, really pop like that. So, and I definitely believe that's the case. You know, not every crypto project is, you know, achieving and making new things and even doing what they're saying they're doing. But there are some projects that are doing that and they are changing the world. I hope you guys have an amazing weekend. I definitely believe one thing that is for sure is that cryptocurrencies are just the start. There is decentralized trust. And that's something that people will take a while to sink in. The fact that we can now no longer have to have banks to trust for us to have transactions. We can trust the blockchain. And that's something that's absolutely amazing. And of course, I just finished up one week at GDC, so Game Developer Conference. It was an amazing time here, just meeting people up, checking what's happening in the gaming space. We had CryptoKitties coming here. We have EngineCoin coming here. We have WAX on World Asset Exchange coming here. There's just so much hope. I feel like this is one amazing way for people to discover cryptocurrencies, not just through like speculation. I think there was just so much people thinking, oh yeah, cryptocurrencies is a cheap way to get rich. It's not. It's about having items permanently stored on a blockchain. The fact that a CryptoKitty can live longer than any of us. It can live forever on the blockchain. That is something truly amazing. And that's something that can teach us about decentralized assets, decentralized trust, and the future for where we are going. So I definitely believe that we have something going on here. Anyways, thank you guys so much for watching. Stay tuned for more future videos. And of course, check out down below. I would love to review more projects in the future as well. I'll be saying that I want to do two videos a day, one to cover a different project, one to cover daily. I definitely want to think about where you think we're headed for the price of cryptocurrencies in the future. Do you think we're entering a bull market soon? Or do you think that, well, we should be very cautious and we're still stuck in a bear market? Thank you guys so much for watching. See you next time.