Ep181: Donald Trumps Clinton, the U.S. media is corrupt, LBRY CEO Jeremy Kauffman is in-studio

Donald Trump beats the corrupt U.S. media to win the presidency. Clinton Foundation received money from countries they knew were funding ISIS/ISIL. China is crumbling under its own weight. BTCC adds a USD/BTC trading platform to its exchange services. Bitmain is going to build a massive Bitcoin mining facility in China. Rumors about China studying way to limit Bitcoin transactions. Tesco Bank suffers a hack that effects 20,000 accounts. Alt-coins and their often brief lifespan. Arcade City founder Christopher David steps down. JJ and Randy talk to LBRY CEO Jeremy Kauffman.

All this and more on Neocash Radio episode 181 here on Wednesday November 9th, 2016!


Dr. Darren Tapp is recovering from the election day madness; he will be back in studio soon! Today, we’re joined by special guest Jeremy Kauffman, founder and CEO of LBRY. LBRY is a blockchain based content distribution protocol.

We’ve written out short overviews of the topics discussed on today’s show below! Be sure to listen in to the whole podcast to get more information, insights, and thoughts on each of them from JJ, Randy, and Jeremy!

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Traditional Markets Crypto Markets
Gold $1278 Bitcoin (BTC) $722
Silver $18.42 Litecoin (LTC) $3.81
Oil $45.37 Ethereum (ETH) $9.75
Dow Jones 18,589 points DASH $9.75
30Y UST Yield 2.81% Monero (XMR) $5.87
Euro (EUR) $1.09 STEEM ~$0.142
Chinese Yuan (CNY) $0.15 AMP ~$0.106
British Pound (GBP) $1.24 1 Doge = 1 Doge


President-elect Donald Trump proves Idiocracy is coming true?Donald Trump is President-elect and the world is shocked
News outlets across the web are asking how and why as if we’ve stepped into an alternate reality. Perhaps most poignant are the headlines, “How did everyone get it so wrong”, in this case courtesy of Politico. This is important to note as many media outlets were directed by or working with the Democratic National Committee. In effect, these so-called news sources were actively trying to manipulate the public discourse and even assert fact where there was only fiction.

Politico has another incredulous headline, “How could the polling be so wrong?” The article tries to make sense of the disparity between the polls and the election results. In some cases polls that showed Trump winning were discarded for polls that fit a more preferable political narrative. WikiLeaks has shown more clearly than ever before that the U.S. news media is corrupted and more of a cog in the political machine than a government watchdog.

Just as the division and anger over the campaign has eroded the idea that America is united, the revelations that media outlets colluded with Clinton erodes the value and trust that Americans place in news sources. Let me be the first to declare that the mainstream media died with the Clinton dynasty. Goodnight, sweet prince.

Hillary Clinton & DNC media collusion with CNN

Markets responded to election news last night with shock and the first movers were Futures Markets with the Dow Jones 30 Futures dropping more than 880 points in the first four hours as the world realized that Trump was going to win. The Dollar dropped in value as Gold jumped up 5% and the Euro saw a boost. The same futures market rallied 1000 points as of Wednesday afternoon. The S&P 500 Futures as well as the Nasdaq Futures saw similar movements. U.S. Stock markets recovered and are up but the same can’t be said of markets like the Nikkei 225. The Mexican Peso has lost against the dollar likely based on Trump’s anti-immigration rhetoric during the campaign. Trump has also not been shy about calling the North American Free Trade Deal (NAFTA) a disaster that he wants to end, and he’s also threatened a 35% tariff on goods imported from Mexico.

U.S. Treasuries are in the midst of a sell off with the 30Y UST yield rising from 2.53% to over 2.8%. The 10 year bond yield went from 1.72% to over 2% the highest rate it’s been since January.


Julian Assange: Isis and Clinton Foundation are both funded by Saudi Arabia and Qatar
Wikileaks has been releasing more and more damning emails from Hillary Clinton and her campaign manager John Podesta. Out of tens of thousands of emails, Wikileaks founder Julian Assange points to one in particular as “the most significant email in the whole collection,” which shows Hillary Clinton acknowledging that the governments of Qatar and Saudi Arabia are funding ISIS / ISIL:

“We need to use our diplomatic and more traditional intelligence assets to bring pressure on the governments of Qatar and Saudi Arabia, which are providing clandestine financial and logistic support to Isil and other radical Sunni groups in the region.” —Hillary Clinton

This is important because the U.S. government has denied claims that the governments of Qatar and Saudi Arabia were funding the Islamic State, instead passing it off as “some rogue princes using their cut of the oil money to do whatever they like, although the government disapproves” as Assange put it.

It also shows that these same two governments are actively giving funds to both the Clinton Foundation and ISIS/ISIL.

According to the Clinton Foundation, the Saudi Arabian government has donated between $10-25 million since the foundation was set up in 1997, though they claim no donations came from Saudi Arabia while Clinton worked as Secretary of State. The government of Qatar, however, did donate $1 million to the foundation in celebration of Bill Clinton’s 65th birthday in 2011—while Hillary was in office—though the foundation failed to report it to the State Department.

Clinton had agreed to allow the State Department to review “new or significantly increased support from foreign governments” when she took office in 2009. A Reuters investigation found that at least eight other countries besides Qatar—including Algeria and the U.K.—gave new or increased funding to the Clinton Foundation during Hillary’s tenure without the State Department being informed. Pay to play, much?


The Great Fall of China?
We have been reporting on the fall in value of Chinese Stock markets and Yuan since the beginning of the year. Recently the ruler of China, Xi Jinping, has been consolidating power and ensuring his continued control of the Communist Party of China. In fact, the party has given him the title of ‘Core’ leader solidifying his authority. Xi has been shoring up support by replacing existing ministers with party members who are more loyal to his rule.

Hong Kong has been a casualty in this power grab. Two recently elected pro-independence activists included defiant, anti-China statements during the oath of office for the Hong Kong legislature. China has blocked the activists from taking their seats in Hong Kong, causing an uproar and ticking off a series of pro-democracy protests.

The recent U.S. Presidential election was heavily censored in China with state-run TV stations directed to focus on U.S. political scandals instead. The Chinese Yuan couldn’t be shielded by a firewall and the U.S. Dollar exchange rate has fallen to new lows. Factor in rapid deterioration of China’s foreign reserves down to 3.12 Trillion and add a dash of housing bubble ready to burst and the future looks dire. Capital controls are nothing new to China and the latest news is that regulations surrounding insurance have tightened preventing Chinese from buying some foreign insurance products, which has become a stealth loophole to move capital out of mainland China. Hong Kong has seen a surge in Insurance sales as a result.

President-elect Trump has not been kind to China on the campaign trail vowing to impose a 45% tariff on Chinese products to protect the U.S. Dollar. Asian market like those worldwide are in an uncertain position given the erratic behavior of Trump. Stock markets initially responded accordingly in the U.S., Japan, Australia, China, and Hong Kong by losing 2% to 5% of their value.

China: A tyrannical ruler tightening his grip on a weak economy with a failing currency and a housing bubble ready to pop – sounds like a recipe for disaster.


The oldest bitcoin exchange, BTCC, moves into the U.S. market and offers USD/BTC support
BTCC is the oldest Bitcoin exchange still trading, and they have a new exchange for U.S. Dollar/Bitcoin denominated spot and margin trading. The exchange offers advanced trading options including Market, Limit, Stop, and One Cancels the Other (OCO) orders for spot trading and 25x margin trading. All but 16 countries and three U.S. states will have access to the Bitcoin exchange. Sign-up requires a photo of a passport, a selfie with the passport and a third form of ID. Bank wire and credit cards are the ways one can deposit and withdraw from the exchange.


Bitmain Announces New Massive Data Center in Xinjiang
Bitmain is known for the Antminer, a cutting edge bitcoin ASIC miner, and AntPool, one of the top bitcoin mining pools. They are expanding their mining operations to include a massive new data center. The first phase of the project will cost about 5 Billion Chinese Yuan ($800 million USD). The space is 39,000 sq. meters (~420,000 sq. ft.) and offer hosting for about 3,600 racks using 135Mw of power. Besides the ASICs, Bitmain has also helped design dust prevention and cooling systems for the new location. Bitmain’s co-CEO Jihan Wu has made it clear that he supports on-chain scaling through bigger blocks so it is doubtful that the miners will signal support for Seg-Wit.


Chinese Regulators Studying Ways to Limit Bitcoin Transactions?
This is a peculiar story, relying on quite a bit of rumors and speculation, but it’s been a popular topic of discussion so we didn’t want to skip it. A recent ZeroHedge article reported that Chinese regulators were allegedly studying ways to limit Bitcoin transactions that take funds out of the country. The ZeroHedge piece cited a Bloomberg article, but provided no link to it and no such information could be found on the Bloomberg website.

The FinTekNeeks blog went so far as to write a piece called “ZeroHedge Fakes Bitcoin Panic,” expressing discontent with the seemingly unsourced material. But Reddit user /u/nomadismydj posted an alleged screenshot from his Bloomberg news terminal that may be the original source, but as of now, it still remains unconfirmed.

China studying restricting Bitcoin outflows? Unconfirmed Bloomberg article

Jeremy thinks if China is actually studying this, they’re trying to do the impossible. But even if regulations prove difficult to enforce, if penalties are harsh enough, a chilling effect could be created by any government.


Tesco Bank Halts Web Trades as Money Taken From 20,000 Accounts
Tesco, the U.K.’s biggest grocery store chain, also has a banking division called Tesco Bank which saw a security breach last weekend which they called “a systematic, sophisticated attack.” Initial reports showed that some 40,000 of the bank’s 136,000 checking account holders saw suspicious activity, and that 20,000 accounts had money taken from them before the bank was able to halt online transactions. Newer updates claim that only about 9,000 accounts had been hacked, and that Tesco Bank has already refunded all of them, totaling approximately £2.5 million (~$3.11 million USD). Tesco Bank also claims that their customers’ personal data “was not compromised.”


Data visualisation: 118 coins plotted over time — this is why HODL alt-coin indexes don’t work
altcoin price chart versus BitcoinCryptocurrency blogger Willy Woo has charted 118 alt-coins that “achieved at least an average of $250,000 market cap in any one year of their existence” and plotted them against Bitcoin. The results were less than pretty, with the value of many alt-coins going precipitously downhill. Woo concludes that alt-coins are “best left for trading due to their volatility, but very risky as holds. This may change in the years ahead, but for now, out of 700+ coins in my database I would say less than 5 have a shot of doing something interesting.”

A follow-up chart posted the next day compares Bitcoin against any alt-coins which had an average market cap of $5 million in any one year of its existence, of which there were 18. Only six alt-coins had outperformed Bitcoin, with DASH being the leader.


Christopher David steps down as Mayor of Arcade City
Arcade City founder Christopher David steps downAfter many months of bad press (including a warning we issued in last week’s Neocash Radio), Arcade City founder Christopher David has handed over the title of “mayor” and his “council seat” to Bernd Lapp, an advisory board member for the Ethereum Foundation. David will move onto another venture called Arcade City, Inc that he says will be an optional service partner in the Arcade City ecosystem. The Arcade City ARC token sale has broken the $500,000 dollar mark but shows a slowdown in sales volume after the initial burst.


Special Guest in-studio: Jeremy Kauffman, CEO of LBRY
LBRY.io decentralized blockchain-based media protocolJeremy was kind enough to co-host the show with us today, and we took a few minutes to catch up on what he and his dev team have been up to at LBRY. LBRY is a blockchain-based content distribution protocol… a decentralized, community-controlled open-source YouTube of sorts. This is Jeremy’s second time on Neocash Radio; he last appeared for a special interview about LBRY on September 30, 2015.

JJ & Randy also co-own a media production studio—5th Quill Studios—and are currently working on some videos for the LBRY team that we’ll be sharing shortly.

As with all of our news, please note that we are NOT recommending buying or selling anything, be it LBRY Credits or any other form of cryptocurrency or fiat currency. We do not speculate on prices and we do not offer financial/investment advice. We just like to report the news and share things that we feel are important, fascinating, or otherwise interesting. We encourage healthy skepticism, critical thinking, and independent research.

 

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