Michael Saylor on Bitcoin ETFs, inscriptions breaking blockchains, and more

Michael sailor calls the spot Bitcoin ETFs the biggest Wall Street development In 30 years and then makes a bold Prediction for 2024 good morning you're listening to The rise and crypto podcast by coin Telegraph with me Robert bags stirring You through the crypto Cosmos with daily Dispatches from the digital Frontier if You want to dominate every crypto debate This Christmas you better click that Follow button okay grab yourself a Coffee and let's get into It Right there is tons you need to know Today so here is what's on the docket Michael sailor calls the spot Bitcoin ETF the biggest Wall Street development In 30 years the inscriptions Gold Rush Is breaking blockchain's left and right And here's why institutional adoption of Blockchain technology is soaring in the Finance sector a Montenegro Court Cancels the extradition of dwan to the US immutable launches the passport Wallet with Google and apple logins and A critical security vulnerability is Found on okx for iPhone Users Michael sailor the co-founder of Micro strategy is perhaps one of the Biggest champions of Bitcoin you can Find in fact his company micro strategy Is second in the table of companies by Bitcoin Holdings only beaten by

Grayscale who are going to need it if They get this impending ETF toward the End of November just gone sailor proudly Announced that micro strategy had Acquired 16,170 more Bitcoin which they purchased For just shy of $600 million it seems Now that part of of the reason for these Shopping excursions might have been the Aformentioned ETFs we are hoping to see Approved in January yesterday Braden Linder covered a brief interview with Sailor on Bloomberg that is Making Waves In the space let's go straight to the Comments because you are bound to see People talking about them in the coming Days sailor said it's not unreasonable To suggest that this might be the Biggest development on Wall Street in 30 Years the last thing this consequential Was the creation of the S&P index and The ability to invest in all 500 S&P Companies via one trade at the same time Sailor then went on to add that the ETF In combination with the Bitcoin harving Event in April could lead to a supply Shock that would spark a major Bull Run For crypto in 2024 he said I don't think We've ever seen a 2 to 10x increase in Demand combined with a harving of Supplyer in a scarce desirable asset That people want to hold for a long Period of time Braden got an out loud Choral for me with this article as he

Yesterday marked the 10year anniversary Of Sailor now Infamous tweet on the 19th Of December 2013 that said bitcoin's Days are numbered it seems like just a Matter of time before It suffers the Same fate as online gambling 7 years Later and sailor was all in on bitcoin And as Braden points out 10 years later Online gambling is now worth around $63 Billion no one is Infallible we've discussed a lot about Bitcoin ordinals where data text images Even videos sort of can be inscribed Onto IND individual Satoshi which are The smallest denomination of Bitcoin This has outraged many Bitcoin Maxis for Several reasons one being the spamming Of the network which in turn causes Transaction fees to Skyrocket this is Actually pretty great for the miners who Are pulling in the highest level of Revenue since the Bitcoin all-time high Of $69,000 in November 2021 but with the Average transaction fee reaching nearly $40 a few days ago it's causing issues And these issues are now spreading you See the problem is people have figured Out the inscription can be made on Ethereum and most evm ethereum virtual Machine powered chains and many are Buckling Under The Strain arbitrum Avalanche Kronos ZK sync the open Network and yesterday Celestia have all Suffered partial or full outages due to

Inscriptions with evm based chains evm Inscriptions inscribe the data onto Transaction call data which is optional Data it's all a bit confusing but the Crypto developer shardel mahadik gave a Useful analogy here he said that Bitcoin Inscriptions are like writing on the Smallest denomination of a currency bill And evm inscriptions are like writing in The notes field of a payment app so People are making a zero transaction to Themselves and then writing data in the Notes the Twitter xuser cigar c y g a a R has a fantastic thread explaining Inscriptions that I will link in the Show notes to the question of why Inscriptions are being spammed he Concludes that it's a mixture of being Early trying to recreate the success of Brc2 tokens and how cheap the Transactions are to spam compared to Smart contract transactions this whole Story is pretty damned important for Anyone in crypto as it's negatively Impacting many ecosystems for risky and Speculative gains as cigar warned in That thread the inscription spamming has Led to arbitrum being taken down and Leading to degraded experiences on other Chains like ZK sync and Avalanche it Remains to be seen when this craze will End we have discussed Jamie Dion the CEO Of JP Morgan Chase on a few occasions But always as a result of his comments

On crypto on the 7th of December episode I covered the news that dimon had told The US Senate that if he were the Government he would shut crypto down Well even if JP Morgan as an Organization is walking dimon's line The Firm like many other major financial Institutions is interested in the Blockchain technology that underpins Crypto yesterday Ezra regera wrote a Piece on some comments by the Franklin Templeton executive Sandy crw crw said That adoption of technology is actually Accelerating very quickly and then went On to highlight that a pathway to Re-engineer Global Financial markets can Be seen for the first time Ezra wrote That major Financial firms like JP Morgan and the Hong Kong and Shanghai Banking corporation HSBC have ramped up Their blockchain related activities Heading into 2024 accelerating the Adoption of distributed Ledger Technology DLT within traditional Finance in fact JP Morgan executed its First defi trade on a public blockchain Last month and HSBC partnered with Ripple owned Meto to work on holding Tokenized Securities on its new custody Platform how long do you think it is Before blockchain is simply a stapled Technology in our Society so also on that 7th of December Episode I discussed the well-founded

Rumor that terraform lab's co-founder Do Kwan was about to be extradited to the United States by the country imprisoning Him Montenegro well it pays to have good Lawyers the Appellate Court of Montenegro has ruled to anull the Decision of the high court of pod gica That approved Quan's extradition to the US or South Korea Helen Parts wrote According to the latest decision by the Appeals court Quan's defense has Successfully appealed that decision and The case should be returned to the Podara basic court for a retrial it Seems that the reason for this Overturning of the decision was that the Investigating judge did not tick all of The boxes required by law and that the Decision was affected by a significant Violation of the provisions of Montenegro's criminal procedure code so For now Quan stays Put immutable is one of the biggest Names in web 3 gaming operating as a web 3 games publisher on its own dedicated Layer too in February of this year I Wrote an article on token gamer about a New kind of web 3 gaming wallet called The immutable passport which has become One of immutable core offerings Yesterday Tom Blackstone covered the Official launch of the passport as well As the addition of Google and apple Logins this is potentially a significant

Moment onboarding has been one of the Most problematic areas of friction in Crypto as a whole but particularly Suffered in web 3 gaming this new kind Of wallet allows users to sign up Quickly with just their email addresses Or their Google or Apple accounts then Use it to log into major games such as Gods Unchained or leading marketplaces Like Atomic Hub and store any nfts you Buy or receive users do not need to Store any seed wordss and a mutable Passport appears to be pushing web 3 as Close to traditional account creation as Possible the counter to this approach is Security but for those concerned Tom Spoke to mutable in May about this Subject he wrote the passport uses the Magic software development kit which Generates a private key whenever they First log in the key is encrypted and Sent to an Amazon web services Hardware Security module HSM where it is stored Afterward neither immutable nor magic Has access to this key as access to the HSM is controlled via a device specific Token sent to the user through email for This reason immutable considers Passports a non-custodial login solution Since it claims it does not require the User to trust mutable with their Funds the blockchain security firm Certic has fired off a warning flare to Okx users on iPhones after finding a

Critical security vulnerability this Month yesterday certic tweeted attention We urge users of okx wallets to update Their IOS app to the latest version Immediately earlier this month we Identified and reported a critical Remote code execution rce vulnerability In the okx IOS app leading to potential Compromise of sensitive data and crypto Assets the okx team responded swiftly And issued an updated version okx Confirmed that no customers or their Assets were affected and they have Deployed a new version on iOS with the Issue fixed okx is a major exchange so Certic might have helped us Dodge a Serious bullet okx is ranked sixth on Coin Market Cap's list of crypto spot Exchanges and second by weekly visits With coin gecko giving it a trust score Of 9 out of 10 nevertheless it was Hacked for $2.7 million just 7 days ago After the private key of the proxy admin Owner was reportedly leaked I'll say it Again nothing in crypto is infallible so If you use okx on your iPhone update the Version as soon as Possible okay that is it for today I'm Very sorry if my voice sounded weird I Have covid but what am I going to do not Give you your daily debrief no chance Consider yourself informed thank you for Listening to the ryzen crypto podcast by Coin Telegraph if you're enjoying these

Daily updates please make sure you let Us know by following subscribing or Leaving review have a great day let's do This again [Music] Tomorrow


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