He said defy. Contracts were one way for Bitcoin owners to generate passive income without relinquishing custody of their coins. Passive income refers to money earned using methods that require little to no effort. According to Antonopoulos, investors could convert their Bitcoin into ether or Die that is da. I then lend it out on a platform where the token can earn interest. However, he said carrying out such trades on etherium based platforms was quite risky in terms of security, smart contracts with bugs and the platform it he said. Aetherium may have problems. It may have bugs that can sense. This algorithm may have failures. You may have increases Wow geez Louise in gas prices, which leads to other leads to other cascade problems. Okay and all of these things can cause you to lose some or all of your invested capital, end quote and to be fair, I'm, and you know you kind of also have to say these things. I think a lot of times I mean especially now within the cryptocurrency space, as everyone is really feeling like there's, going to be a ball market or are preparing for ball mark and the seeing a lot of other coins. Are. You know shooting up in price everyone who really wants to kind of make profits. A lot of people usually tend to forget that some of these things may have bugs. They may have issues they may have problems, they may have failures, I've seen a here jump, tick and the amount of people in the comments section, discussing D, Phi D, five platforms and just kind of overall like an extra way to make money on the side.
But people tend to forget: hey a lot of these things might be scams, be a lot of these things might not live up to the promises and you know just kind of always. You know what do I always say make sure to do your own research. If you're trying to get into a D Phi program platform lending something make sure that it has worked for other people like really work for them, that they were able to take their money out of it, that the contracts worked out properly and all that other stuff. As well lending and borrowing crypto can be a risky bet, who'sa. The high volatility of digital currencies with a large number of crypto backed loans used for margin trading. However, the volume of these loans reached eight billion dollars last year may continue to attract investors, though Antonopoulos mentioned other methods for getting investors coins to work for them nearly every way to do so meant relying on a custodial exchange. Bitcoin educator said such investments carry the risk of theft or mismanagement. We are at the point right now where people are trying to figure out, and this began. I think at the end of last year, where we started getting a lot of news about D 5 platforms. Really popping up all their platforms, that weren't even for default is from other cryptocurrency companies. That said, like you can stake with us. You can do so, and so the the new thing – and I guess the the portion of the defy side for this year, because this year's theme seems to be defy – is finding other ways to make money with your crypto easily readily all the time that you want.
Instead of just holding it, the entire idea of holding your crypto has become very passe. Nobody wants to simply just hold their coins anymore. They want to be able to make money from it on the side. I think, logically, as time goes on, these platforms should hopefully mature and that they'll be very secure, very safe you'll. Be able to do it again, like a AE, a normal number return. Cuz a lot of them are very they're hyper fluctuating. A lot of people have been saying, like you, should use this platform, it has 14 return and then you look at it and they have like an actual chart from where it was the other days and like last month, it was 3. This month is 12 xima. That'S, probably gon na be 4 cuz. They have fluctuating interest rates because none of this is particularly stable, not to say that they all aren't anyway yeah. This is going to be a continued trend. I assume that by Nansen coinbase and all the other bases and Bitcoin places are going to have more of these things, starting to pop up it's going to be like even there like other. What is it like? Those debit cards and stuff like that, where you buy something you get like Bitcoin like cashback, like nothing, not like a cashback thing but like you, make a purchase and then you get like a percentage of that purchase back in Bitcoin kind of thing.
It'S going to become a very big thing, being able to make Bitcoin passively or any other cryptocurrency passively is going to it's a trend. I don't think it's going away. Anyway. Just I mean it's it's, a heads up and it's also a yeah. This is going to be something that we're all gon na, probably be using in a couple of years like if this does, if, if this entire experiment, this cryptocurrency decentralized, blockchain experiment as many people call, it works out in five to ten years. We'Re all gon na have our coins locked up in some platform on something making passive Satoshi's or passive ether or yeah anyway, that's the Antonopoulos Bitcoin defied passive income news let's move on next up ever since cardano's creator, Charles Hoskinson announced the roadmap for the much and Anticipated shell, the upgrade the price of a dough as well. The community have been on fire with excitement bit of an overstatement, but now I'll take it. This upgrade is expected to be launched in less than two weeks and will transition the Colorado ecosystem from a federated network to a completely decentralized one. The developers at io HK, the firm that is responsible for Cardno, have been working tirelessly over the last couple of years to develop the shelly code base. The shelly upgrade has been hailed as one of the most remarkable transitions in the cryptocurrency community. The ratings agency, known as weiss ratings, has acknowledged this in a recent post in a tweet on the 27th of june weiss popular for its somewhat controversial crypto post postulated.
That shelly is a small step for IO HK, but one giant leap for the overall cryptocurrency ecosystem. There'S, their tweet right there and hoskinson's own words. The card, our own network will be able to handle as much as 1000 transactions per second the near future. After the upgrade in a video. He added in a video that this year the smart contract blockchain will become technology superior to other block chains like there iam, Bitcoin or basically any other platform in the entire crypto industry. We are very close. The news every day, as always something to say about car jonno I mean – and I guess also the other significant part was a twice rating said something about them as well sure I mean and yeah yeah. I always wonder, but behind the scenes like which, which not now which coins that they themselves have invested in, but it's more, like a cuz Weiss used to hate on a lot of coins, but now like they only seem to talk about coins that they, like. I don't know maybe they're just really doing research behind the scenes and they see that card on o is the one coin to rule them all anyway, less than two weeks away, I know I'm monetarily excited. Are you anyway that's the card? Ah, no news and let's move on next up. Japanese financial giant SBI Holdings says it plans to create a new crypto asset fund that features an allocation of 50 that will be just XRP.
In a new briefing, the financial giant says the crypto asset fund is expected to launch in the coming months. According to SBI, the fund is designed to allow its clients to gain exposure to the unique and the merging asset class. Is that providing individual investors with a crypto asset fund that embodies the resources of the SBI group crypto assets which have a low correlation to traditional stocks, bonds, etc? Enhance the effectiveness of diversification? The other half of the fund will be 30 Bitcoin and 20 ether. You know, logically, the S by s by the SBI alternative investments will be in charge of creating and handling the fund in partnership with an anonymous entity. Okay, SBI securities and SBI Money Plaza will be responsible for the sales of the funds shares to individual investors. The news that what was the other news that we had like about a week or two ago from SBI, I think they're gon na be starting their remittance platform exclusively within with XRP as well I'm. Only only so many times I can say it, um what's, the is it Nike. I don't know who has the who has the logo just do it or is it just get it done? I think it's just do it. The point is, we keep hearing a lot of stuff and it's, not just reserved it's for every other coin as well, but all these things are going to happen. They never take place or they got ta just so as it stands right now.
For those of you wanting to keep track with it by by October, we should have private transactions on litecoin. We should have SBI using or using XRP for billions of remittances. I think also the shareholders of SBI will also be earning xrp they're. Also gon na have a new fund allocation for XRP. We should have a theory M 2.0. We should have Shelly on card. Ah, no, we should have Tron 4.0. Who knows why it's 4.0, but that's most? It also happened sometime in July. What else was there? There was another coin, that's also supposed to be having something anyway, it's looking like it's gon na be a very exciting July in August, if, if nothing else so that's the here's, the actual PDF, it was on page 19 of 144 pages, where they talk about the Xrp shareholders and all this other stuff I mean it's, mentioned a lot of times within the actual chart. If you look for the words XRP, this is the first place. It popped up anyway, that's the XRP news and yeah let's move on next up. It looks like Bitcoin atoms are likely to be the next target of US regulators. Bitcoin ATMs have grown in both size and scope over the last few years. There are approximately 8000 machines all over the world, that's very that's, a very an exact number and as the love of crypto has gotten bigger, so has the presence of Bitcoin ATMs. These machines are now seen as a convenient way to transfer funds and purchase Bitcoin with cash or with any other forms of crypto in a simple, quick and convenient way.
However, because we can't have nice things, a new report from blockchain security, firm, a cipher trace, suggests that perhaps these ATMs are being used improperly. Hmm, the report says that a lot of these machines are now being used to send money to high risk exchanges, which suggests that perhaps money laundering is a relatively common occurrence. Wow. The document says the percentage of funds sent to high risks, exchanges using Bitcoin Yuet what's, a bottom Wow terrible, USB ATMs. Terrible has seen an exponential growth doubling every year since 2017. Three years ago, only about 2 of funds allocated through Bitcoin ATMs went to high risk. What'S a high risk exchange: oh probably an exchange it's not regulated, because it's cipher trace got it today. That number has expanded to just over 8 Wow 8 that's, a big number. That means that the amount of money going to these exchanges has quadrupled in just 36 months. In addition, the report says that most of the money garnered through Adams, roughly 88 percent as being stored in offshore accounts, what the document says. They says they says they said: Bitcoin ATMs are likely to be the next major regulatory target. They says. According to coin ATM radar, the number of Bitcoin ATMs in the world has grown exponentially over the past year. The current figure eight thousand of Janzen on its ninth other machine them in ten thousand more presenters, oh god, yeah cool, wonderful, what's, an offshore crypto account.
So I mean just even touching on this one point, a huge discussion that happened many years ago, and I and I – and I assume this is going to pop up again in the next couple of years as well – has been the idea that, within the cryptocurrency space There'S, no longer really technically a need to use a bank anymore ie, any crypto you have, I don't have to name them. You can buy a nano ledger, you can buy a so, and so you can, even if you wanted to, you, can buy a laptop put. Your coins onto it store it under your bed and therefore your coins are relatively safe. You know in case you just slam onto the bed and break the computer. The point is um. The entire idea of like an offshore account is um is something that's, also gon na kind of completely disappear, because as people realize that they can self custody or just simply put it into some website or platform or store it into a mountain. The idea of it's supposed to be that our idea of how money is stored or shared or where it's placed is going to simply disappear, because we have the idea now that when we hear an offshore account, it has to be something completely illegal. It has to be something that's out of the purview of people who are trying to enforce regulations or create regulations, and therefore it must be.
You know if it's offshore it's not on our shores and therefore it has to be something bad, but that's, also gon na, be something that completely. The idea of this will completely disappear, especially as we end up getting private transactions for a lot of these things. So I guess the news being: if you've been using a bottom, that is terrible, a Bitcoin ATM a B ATM just be aware that they may get shut down there. There are actually a few countries in the world that have completely shut down any companies that had Bitcoin ATMs because they couldn't keep track of it and they couldn't do so, and so it's just part of the transition. I suppose Music. It was never meant to be an easy transition, especially as we are trying to become a mega world currency, if not the the top world currency or have a you know: half a million dollar Bitcoin price so also weird, just my opinion that there are tons of Other crimes like actually happening in the world, but you know this is this – is what they focus on anyway, here's the actual sighted stated article from Yahoo. It says: Bitcoin ATM growth may be a boon for money launderers. I I mean why. Why would only 8 of the people are doing it? That means 92 of people are doing things that are totally fine, but why? I always focus on the negatives like. Why make sure that, when it's sunny outside that, you make sure to look for weeks down the line to see that is going to be raining? Why focus on the negatives because that's, what sells people like negative news and that's, what they usually click on that or hypee news that or very people like the hype anyway, that's, the batam news and without further ado let's move on in very incredibly popular news.
I feel like I missed something: finance crypto exchange, yeah that's right after temporarily. Halting halting activities on its platform to upgraded service is back up and running Wow claim to be the largest upgrade in the last two years. Finances upgrade was a complete overhaul of its matching engine. The crypto firm, however, said in a release earlier that it would be upgrading its trading platform on Sunday. The 28th of June finances upgrade, as announced, was to last for two hours: improving a wide range of features. Like deposits, withdrawal and spot trading, while the buy nan straight upgrade was on trading, activities were suspended as the upgrade process took longer than scheduled, but completely but completed successfully, and that happens all the time there was remember like a year or two ago. What was the exchange? They were doing like a, I think, like a three hour upgrade and it lasted for like three days and people were like whoa whoo. You guys doing bye Nancy EO Chun ping sau in a tweet said that the recent upgrade is the largest upgrade to date. Since the crypto firm launched in 2017, the firm has undergone a series of system upgrades, some of which were simple upgrades and other more noticeable changes. He said this is the largest upgrade. To date, we switched the matching engine to a new programming language and rewrote all code from scratch, as required, that's as big as an upgrade as you can get two years in the making all but faster performance reading for the next wave, a Dilla de, he spelled Build wrong III know what it means, but it still looks ridiculous.
Last year, bond, ants, doled out futures products and main trading to users and also lending products and crypto staking features after earlier this year. The platform also launched option 2 futures trading. The platform this, for some reason, was the news of the of the Everywhere day. This was all over the place. I I kept on seeing like bye, Nance, upgrade news, finance upgrades upgrading by Nan's and finances to be upgrading, and I was like well clearly. Maybe something terrible happened. Maybe they were upgrading and it fell apart or maybes nope. That was just for some reason. Very popular news – and I saw a couple of very um what the word I'll use – the word hype, hi peep laces, who made sure to mention that by NASA's upgrades took longer than scheduled, they're upgrading that I'd, really, if they say two hours and they take six Hours, I'm, really actually fine with that, because I'd, rather my money in my coins and the platform be safe and actually working than them trying to um. You know rush it out, but I guess for anybody out there who cares, finance upgraded, and that is the news. That'S everywhere news, I wish I was half joking anyway. This is awkward let's move on and, to finish things off, say goodbye to stuck transactions on the ethereum blockchain rock side, a Parisian blockchain company founded in 2001 8y, which was released a widget widget this week, Wow, which this week released a free version.
I why can't? I read anymore a free version of software to get rid of stock transactions. Stock transactions are transactions that don't get processed. Okay got it usually because users haven't paid enough money to get miners to prioritize their transactions. Wonderful on d5 protocols, stock transactions can cause a log jam and slow down the whole contract rock sides. Transaction relay service algorithmically determines gas prices on behalf of users. Think of gas as the fuel that powers there IAM smart contracts, you buy gas with ether, so should a large number of expensive transactions suddenly be broadcasted, the network rock side will make sure the contracts are funded with enough gas to ensure that they are processed quickly And no extra cost to the sender the stop transactions from getting stuck through its API rock side also offers gasless transactions. These use gas provided by the developer of the defy protocol that covers gas users. Gas fees for simple transactions with the blockchain Rock sides. Transaction relay service comes at a crucial moment in the developed development of aetherium, as developers hunt for ways to reduce skyrocketing gas costs and accommodate unprecedented growth in users and transaction volumes. This was also quite popular, but I assume it mainly has to do with I mean we got news was about a week or two ago, aetherium is kind of a jammed. A lot of people are using it a lot of the stuff being built on top of aetherium once again, 2017 mimic is causing a lot of slow transactions and it's, showing the slowness of aetherium and the need for an upgrade which we still don't have that we're Supposed to be getting so, I mean we're gon na have tons of things like this.
In the future, things will not ever just be simply built on the core alone; it will always be other side chains, and things like that. I wonder what I mean. It seems that this is already completed, says they've launched let's, see within the next two weeks. If we have lower transaction fees and also lower what's, the word lower damaged, lower actions are going through a lot quicker. Yeah that's the etherium defy goodbye rock side transaction really. I'M, just looking for words on the screen anyway, yeah let's move on, as always very special. Thank you to my patreon supporters, professor Wally from gon na buy University, Oscar Maldonado utopia, five, six, nine yo janati moon man, Hayek's RP, the pothead Joshua Vineyard, Martin or Chango low load, songololo Nostromo John starts in the anima Rita ability, a phobia, Todd Mullis, Adam Grace's, Maher Maroney master ventures in Thailand cherish not a wise Nite Owl 242 to the world Krypto Joe Bank Road network, adobo, crypto artist, Cole, d3d, Nicolas runner, with one piece one love Damien setsuna Nick can I allow my hand Richie Rich 3, vlad the impaler taxes. Nick monde, yellow buddy anthony charles james, garner jeremy fox minting coins miller hit shots every day in caskets like they. Yes, the crypto boaty mcboatface Anytime, Fitness mom's, going to staff arf medic, 1. 7 bake me a cake, digger and macho Nisa on Krypton with Lana Crayola. Michelle URL a bolero bus dose and hold on, I have to sneeze.
Thank you all very, very much for your support. Thank you to everyone who is a member of the channel. Thank you to everyone who has subscribed to the new channel and thank you to everyone who is a clicker of affiliate links. At the moment the market looks read. Oculus Bitcoin is up but it's a mini up, it's up by 0.16 it's, currently over 9 thousand US dollars. People were there a lot of articles talking about, depending on where you looked around, the Bitcoin had fallen and below 9000 around. Here they were saying how this was terribly detrimental for the price and how bearish it was, and how dare Bitcoin do that, a little while, after Bitcoin shots back up, but it looks like we're on what what what a lot of these movements look like? Are just accumulation movements, because whether the news is good or bad, slow or fast, depending on what you know, what kind of news we get for Bitcoin on that day, these same patterns continue over and over um well, see where this all goes as time goes on, Colorado is currently up by four point: six, four percent. It is the highest up coin within the top ten. I think the hype is incredibly real, I'm expecting within the next two weeks. I think it will be incredibly bullish for cardano's price if we pass by ten cents within the next two weeks. I think, by the time we finally get in August so sayeth the Hoskinson, the actual staking mechanism for shale a and that is five five and a half six weeks away and we've we've passed by 15 cents for card.
Ah, no, I think we will do incredibly well, we stay around the same price. We will have to then wait for a a bull market to move card on o up, but the idea that they will have a proper staking system that they've been working on that people will be there's tons of people in the comment section will keep saying that They plan on staking their card on o, and I assume I ohk probably has a huge amount, as in many other pools and many others so and so a lot of people going to be staking their card on o to get that um that good old, passive Income and that's only going to cause mathematically as it should the price to continue to go up because um, you know if there's less, if this is the price action right now with the current circulating supply. Imagine if we have 25 35 40 percent of ADA circulating out there being locked up in the actual staking platform to create more that'll cause. A price increase logically let's see how that works out. Crypto comm is going up why the fudge not yeah like if you I mean the it's clear, that the market wants to go up, but this um this this this this this this tethering to bitcoin, is the what what the the tethering to Bitcoin is is a Bane in too many of the existence of other cryptocurrencies don't ever forget, everyone always do your own research.
We are its. It feels like we're on the cusp of something I do not know if we are on the cusp of something, but you all feel it I'm sure I'm, not the only one, all like there there's. So many things bubbling right now. The things that we've heard that we were going to get for years are finally here: we've gone through the having we're gon na have I'm, not naming all the coins and stuff like that again. But there's tons of major coins who are going to have these upgrades and or the locking up of coins. So if we are on the cusp of something just make sure as always, do tons of research or do some type of research to see what you would like to put your money into, if you feel that it's safe enough, if you feel that the risk is You know there enough for you to be able to make a good amount of money. I do hope you all enjoyed. I hope that you all are having a great day a great morning a great afternoon a great evening wherever you are wherever you might be. I do hope that is absolutely fantastic.