All prices are given in USD.
Hello everyone.
My name is Nick, the host of Sobuka where we give commentary and opinions on what is
going on in the cryptocurrency industry with respect to the southern and eastern hemisphere.
On this channel, myself and others like Brian and Laura are always looking for ways to make
our content and interaction better with the audience.
Suggestions is definitely appreciated.
So the area that I will cover today is coming from North Korea and how supposedly they are
trying to hack several South Korean exchanges.
But first we will look at some market anomalies in the cryptocurrency space that my viewers
in the past have asked me to perform.
Today it will be on Bitcoin breaking the $4,700 barrier.
And I just want to tell everyone that all the prices listed on my channel are given
in USD.
As well, I will talk about Litecoin breaking past $67.00 and lastly Ripple creeping up
to the $0.25 region.[1] Yes, it's honestly about freaking time that Ripple made moves
higher.
What a disappoint-er for the past few months.
So guys stay tuned to hear all of this.
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Bitcoin.
Buy and Hold Bitcoin.
Bitcoin Cash (BCash).
Bitcoin Gold (Bgold).
Before I move forward with this, I just want to say that my channel is not financial advice.
Please talk to a financial advisor before jumping into the cryptocurrency space.
So let's start with Bitcoin.
The cryptocurrency broke past the $4,700 resistance level.
One of the possible reasons for its high price moves lately could be attributed to the following
reasons.
And disclaimer all this is my opinion and speculation.
I do not have a crystal ball on what is going on with these exchanges.
And if you guys know of anything or news that is better than my reasons, please help me
out.
Share it under my comments section so others are informed, or hand me a thumbs up if you
agree with my assessment.
Okay, let's start with Bitcoin...
Bitcoin will likely be going through two coin splits later this year.
For example, if you have Bitcoin before those splits, you may have two coins.
The first one from the top of head will be related to Segwit2x.
Supposedly it will act as the current Bitcoin but "much" faster as it speculates.
The other one is called Bitcoin Gold or Bgold for short similar to BCash.
We do not currently know what the ticker symbol for BGold is as it was originally slated to
be named BCT, but that ticker symbol was taken.
I looked over a small poll from twitter followers from the BGold site.
Their poll asked "which crypto dividend has the greatest chance to survive in the
long haul?"
The results so far is Bgold at 42%, Segwit2x at 32%, and BCash at 26%.
So from that small poll, Bgold is currently at the lead.
Now for folks who do not understand the history of this fork and split situation, this recently
began when BCash split from Bitcoin back in August.
This was really a surprise split for most people in the Bitcoin community as Bitcoin
was suppose to remain as one coin.
And from this day, it's left a sour taste with a handful of people.
The same is true for the Segwit2x split that is coming up real soon.
The schedule for that is around the October and November timeframe.
So again, some of the people in the Bitcoin community do not want this Segwit2x split
as its suppose to undermine the real Bitcoin's upgrade in November.
Thus Segwit2x will cause a whole bunch of confusion as with BCash for people not too
savvy around this space.
And there you have it.
Bgold is suppose to be released sometime in October but before the Segwit2x coin so look
out for that.
And I will have references below on where you can find more information and conversations
about this Bgold situation.
From what I can tell you, the parties involved in Bgold love to stay true to Bitcoin by not
causing any contentions with the Bitcoin community.
So because of that, they are seeing more favorable results from their early, voting polling data.
Thus this brings me to my point.
Should you buy Bitcoin?
My response is please "go seek a financial advisor before investing in this space."
I will tell you from my own experience that splits similar to this in the past, what has
happened is that the original coin typically tends to reach a higher price because everyone
wants to get a hold of that second coin.
If you have questions about that, please leave it in the comments section, and I promise
to get back to you on that.
Before I get off this Bitcoin subject, one last thing that I want to say about Bitcoin
is that holding Bitcoin thus far, has been the best financial trade ever.
Now if it goes to 0 tomorrow, well ends that conversation.
If you are into trading cryptocurrencies back and forth, just remember that 5% of day traders
are successful, so make sure your trading strategy is Albert Einstein-ish.
Litecoin, Bitcoin's "Legitimate" Baby Brother.
The Litecoin Lightning Network.
And this is a good solid transition to Litecoin, which I call Bitcoin's "legitimate"
baby brother.
Let's talk about Litecoin's price move.
It is currently just hovering below the $70 price region this morning.
And the only news that I can relate to it is given how it's lightening network will
be released this September.
So what you may have going on here is people buying into the news, thus bringing the price
much higher.
The reason why I call it Bitcoin's little brother, it was the second alt coin to come
out after Bitcoin, and it shares quite similar relations to Bitcoin given Litecoin's supply
is a several folds more.
In the industry Litecoin is still looked upon as the Silver to Bitcoin's gold.
This lightning upgrade which is suppose to be coming out in September will allow Litecoin
to handle a lot more transactions per second.
Let's Talk About Ripple
With that said, what they heck is Ripple?!
Ripple quite simple for new people out there is a banking technology that brings something
to the financial industry, which is speed and transparency of transactions.
It does have a token associate with it called XRP which is now just shy of the $0.25 cents
region.
This token has been struggling in price this past few months with the other decentralized
cryptocurrencies just kicking its butt.
So if you have been a holder of XRP, since early May, you are definitely a true fan.
I personally left that bandwagon a while back.
But regardless of that price of the token has moved up about the $0.25 cent region.
There is news coming from China that that Ripple team have meant with banking officials
in China.
All I can speculate is that something big might be coming out of Ripple so I will be
paying more attention to the company.
Also keep in mind that a few months ago, the Ripple team did meet with Saudi officials
to test the Ripple platform and that meeting went fell.
This is my take on Ripple: It is the only known banking platform in the crypto space
that is leading the coin market capitalization.
I am not saying buy this coin.
But keep an eye in what is going on with this company.
The financial systems of the world would be likely to adopt this technology given how
fast it's platform performs and all the good that surrounds the company.
Now how the XRP token will play or be involved in anyone's guess.
It may be used as a way to barter with other cryptocurrencies or it could be used as a
smart contract to store pertinent information via delivering and receiving mechanism.
So what Ripple decides to do with XRP will be interesting in near future as both features
that I have described basically sums up what it can do.
This lastly pulls me into news about North Korea and South Korea with respect to Bitcoin
and cryptocurrencies news.[2] It turns out that North Korea has been suspected to hacking
South Korean cryptocurrency exchanges.
I am not sure if that news is true.
All I can take out from that news is that it makes North Korea appear much smarter than
they look.
And we are giving them a lot of credit for that.
There are some and world class cryptocurrency exchanges in South Korea.
So the idea of North Korea having technologies that date back to 1950's...well let's
just say that something does not add up there.
And if anyone knows about 1950's technology, most of that equipment was purely analog.
Yes you can turn the analog signals into something digital but it would be like cutting a piece
of chicken with a butter knife.
Definitely not convenient there.
So the idea of this hacking incident calls to mind several things.
If this true, then North Korea has very nice computers.
If this is false rumor, we are giving North Korea too many credit.
If this is false rumor, who is actually doing this hacking, and is North Korea the escape
gate.
Let's simply blame the North Koreans for everything...
We have heard of similar rumors in the past like North Korea mining Bitcoin which in essence
would take up a lot of electricity for a country that size.
I am just saying that there is a little bit of doubt if any of these rumors true.
With the ability of western peoples being able to sniff and disable digital communication
lines, it really calls into question the ligitmacy of everyone involved in this North Korean
craze.
Alright...That's all I have for this segment ladies and gentlemen.
If you want me to look at any specific country in detail as it relates to cryptocurrencies,
please let me know.
My only restriction is that the country must be in the areas I cover on this channel such
as Africa, Latin America, Middle East, and South Asian Pacific.
And lastly, If you like this content, please click the Like button on YouTube.
You can also Upvote/Re-Steem this content on Steemit.
For new people, you can also choose to follow me here on Steemit or subscribe on YouTube.
So please feel free to post your questions below and if there is any specific cryptos
you want me to look at, please let me know.
I promise to get back to all of you!
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