😱 BAD THINGS GOING ON IN CRYPTO RIGHT NOW... BULLISH ONLY ON THESE UTILITY PROJECTS!

What is up? I am Crypto Mason and welcome back to the Crypto Mason YouTube channel. Shout out to the Gold Squad. We look for gold in every single aspect of our lives and we always find it. Now today we are back for another daily market update. Before we get into this one, make sure you join the new Telegram, uh, channel. Link is in the description. Also make sure you go enter the giveaway that we have running on Twitter for $200 of any crypto that you choose. Um, the 3 requirements right here, you can enter right there. Now also make sure that you guys are paying attention to the ETH Jets project. So you guys know I did join the team of the ETH Jets project, so I'm literally on the team. Like, this isn't an influencer paid promotion thing, I'm on the team. Um, So they're minting on July 11th, um, and this is the first NFT-gated private jet charter service. Actual real-world utility on an NFT, like real physical life NFT, uh, utility. Now just wanted to get that out of the way before we get into the daily market update. We're sitting at $856 billion, $65 billion volume. That's horrible, right? $65 billion volume is bad. We want it to be over that $100 billion. Also, the market cap right now not looking too good. Bitcoin has dipped well below $20,000. Now it's actually at $19,100. Not what we want to see. I do believe this will just bounce and come right back up above $20,000, or we, we head back down to $17,000 and bounce up again. I don't think it's going to go lower than that this time unless we see a catalyst come out. Um, Ethereum's at $1,000, $1,033. That is an absurd deal for Ethereum. Um, and dude, like, if you buy— if you buy some Ethereum, like, if you buy $500 worth of Ethereum, you literally have 0.494847— like, you, you get a lot of Ethereum bang for your buck now, uh, which it feels pretty crazy, like I bought $5,000 worth of Ethereum, you get 5 ETH. 5 ETH. Like, I'm so used to the price being, uh, being higher on that, it feels really good to be able to stack ETH that low. Um, biggest gainer today is nothingness. We have Shiba Inu and Arweave only up 2%. Um, if we go to the bubbles, LUNC is still— I don't even know what to call this anymore.

LUNC?

LUNC? Luna? I don't know. Don't even talk about that anymore. But we have everything. Look at XDC, down to 2 cents right there, uh, 20% down. You also got Elrond down. Elrond is a great project. You guys know I've supported Elrond pretty heavily in the past, even making a dedicated video on it. All of these, uh, are, are decent buys right now if you want to dollar cost average in. For me, I am still not buying. I am simply going to wait and see where this market brings us because there is nothing bullish right now whatsoever. There's really, really nothing bullish, um, for Bitcoin specifically. For other coins like XRP, HBAR, Quant, Algorand, there's bullish stuff every single day. Obviously it's not reflected in the price yet, um, but yes, there's bullish stuff every day. Now we do have some big news stories coming out today. We have FTX, and we're going to talk about the FTX token right here at $23.60. It's down 6% on the day. Um, I do see this going down even more. Um, but this is a good one to stack. You want to stack any cryptos that have sold their soul to the government. FTX has sold their soul to the government. Um, as we saw yesterday, Sam Bankman-Fried was, um, defending Tether. And now we have a big story coming out saying FTX actually walked away from a deal with Celsius after seeing the state of its finances. This is coming out from The Block. Celsius had a $2 billion hole in its balance sheet. $2 billion hole in its balance sheet. Um, and FTX was trying to make a deal with them, and now they have walked away because of that $2 billion hole. Um, basically saying FTX saying it's it's unrecoverable here. What do you guys think? Leave in the comments. Do you think, uh, um, do you think Celsius can recover from this? Um, and this is obviously from on June 12th when they froze withdrawals. Um, yeah, this is horrible. This is horrible. Now FTX is trying to buy out BlockFi for $250 million. So BlockFi is basically a competitor to, um, to Celsius. And FTX is trying to swallow up them, uh, now. So Celsius coin still down massively, it's probably going to dip even more today. Also, uh, FTX token could be a good one to stack. Let's talk about the USD coin right here. There has been some big news from Coinbase come out, uh, two pieces of news from Coinbase actually. On July 13th, Coinbase exchange will be unifying the USD and USDC order books. As part of the unification process, USDC order books will be merged under USD order books to create a better, more seamless trading experience with deeper liquidity for both these coins. This is pretty crazy. This is pretty crazy. So they're literally like, they're merging the order books of USD and USDC. That's crazy. That just shows where the loyalty is. And those are in cahoots for sure. Obviously Circle, right? Circle, USD, Coinbase, they're all in cahoots there. Uh, USDC, I'm sorry. Um, so that's very interesting. They're merging those order books, uh, for deeper liquidity. And then we also have from Coinbase, um, they're— they are providing geo-tracking data to ICE. And ICE is the Immigrations and Customs Enforcement unit, I believe, or, or I don't know what they call it, but that is what ICE is. Um, and they did this deal. I remember covering this in 2021. Coinbase sold a single analytics software license to ICE for $29,000, followed by a software purchase potentially worth $1.36 million the next month. So they are providing this data. They're basically selling your data to ICE. Right? They're your geo-tracking data to ICE. And this is basically to further identify anybody on the platform and further identify crypto users. Um, and then Coinbase was asked, like, where's this data coming from? They use something called Coinbase Tracer, and it sources its information from public sources and does not make use of Coinbase user data. So there's— I mean, they're still helping the government get your data. Um, so as you can see, they've sold their soul as well. Um, and this is what I've been saying for a very long time. Now we also have, after 8 years of dumping billions of XRP, Jed McCaleb's stack runs out in 2 weeks. In 2 weeks, Jed McCaleb will be out of XRP if he continues dumping at the rate he has been dumping. Yesterday I checked this chart live on TikTok Live. Um, and I mean, I didn't know it was going down this fast. He has been dumping insane amounts every single day. Yesterday, 7.3 million. Day before that, 7.3 million, right? Um, and he has 74 million remaining XRP. So maybe this is sort of bullish, right? It really could relieve some selling pressure, I guess. Um, and this is just bullish that we've like cut full ties with that guy and he's going to have zero XRP. Um, and then the FUD can stop about the co-founder dumping, etc., even though that will be permanently tarnished on the XRP, uh, reputation. And I actually just woke up and read this article today and scrolled down and I saw my Twitter account right here, uh, being used in this Cointelegraph article, uh, which is very cool. Shout out to Cointelegraph for featuring me in this— my tweet in this article. Um, basically I was just pointing out that 22 million XRP has been released in the past 3 days, um, and it's about to really run out. Um, and then they actually quote a Jed McCaleb parody account, which I— you guys know my stance on the parody accounts. I absolutely hate them. I think it's horrible for beginners to maybe stumble across a parody account and think it's real, uh, and then maybe they invest in XRP because they saw a parody account. I think it's horrible. But point here is Jed McCaleb is running out of XRP, and I cannot wait until he's out. All right, so we do have a sponsor for today's video. This is CoinsPaid. Uh, they do have a CPD token right here, CoinsPaid token. Um, this is a Bitcoin payment processing gateway and business crypto wallet. This has already won many awards, including the Payment Provider of the Year award. As we can see on their website right here, they have processed over €12 billion, and that's over 21 million transactions processed right there. You're gonna see they have 800+ satisfied online businesses, 8+ years working with crypto since 2014, um, and that is according to a recent post by CoinsPaid. The current volume of transactions processed is more than €1 billion in payments per month. Here's the website, right? We can go through the website a little bit right here. They have their loyalty program section, and this is basically the value. One of the value propositions of this project is that the merchants can come onto this, this platform, start using it, and they can actually buy— they can stake it and earn discounts on their, their merchant processing fees, and they can actually get up to 50% off. So this brings a potential huge demand for the CPD token because any new merchants that they get and when their business expands, uh, the token could, you know, be reflected in that because these companies will be buying and staking this token so that they can earn discounts on their processing fees. And they have the whole breakdown of how the discount is calculated right there. There's a discount calculator for them as well. This is in the loyalty program section. And as you can see, we can go keep going through the website here. They have the CoinsPaid crypto wallet. They do have their wallet already in the App Store on Google Play and the, uh, Apple App Store right there. You can directly purchase CPD token on the app as well. Um, then they have all their business solutions right here. We also have this graph right here showing that year over year their volume and transactions are increasing. This is 2018. They had 561,000 transactions, €210 million. And then as we go up into 2022, uh, it has been increasing year over year. So talking a little bit about the CPD token, this token is nearing its IDO price, right? Right now it's near the IDO price. It has already been to 20, around 20 cents at the top of it. This is CPD token right there. You can view all their, their stuff, the contract, etc., the volume over here. Market cap is only $1.3 million right now. So definitely make sure to go check out their Telegram. All of the links to their stuff, their socials, social medias and stuff is in the description. But shout out to CoinsPaid for sponsoring this video. Let's get back to the video now. We also have Grayscale initiating a lawsuit against the SEC. This, uh, the short version of this is basically the SEC is failing to apply consistent treatment to similar investment vehicles and is therefore acting arbitrarily and capriciously, uh, in violation of the Administrative Procedure Act and Securities Exchange Act of 1934. I love to pronounce that or enunciate that, 1934. We're dealing with a, an act from 1934, trying to apply that to 2022 things. Do you see how freaking outdated this whole thing is, bro? Like, we need— we— this whole system needs an upgrade. And I do understand that that's what's going on right now, is we are upgrading the system. And that's why the whole world, in fact, has to go through very traumatic things like this, this virus, you know. We have— and, and We have to go through things like that in order for changes to be made, unfortunately, right? They got to move the digital identity. They got to move them. They got to remove the cash. They got to instill this digital medicine. They got to do all this crazy stuff in order for us to get upgraded in this new system. And trust me, the new system is going to last the next 100 years or 100 years plus, right? right? Now we do have some amazing clips right here. We have a clip from John Deaton. We have a clip from, uh, I believe that's— oh, I forget who that is. I'm so sorry. Oh, Digital Perspectives. Yes, Digital Perspectives. Um, and then we've— we're going to end it off with them with an amazing clip that you're definitely going to want to watch about Bitcoin here. Um, so here we go with the first one. Uh, this guy says this right here is the reason why he began to research XRP. Take a look at this on Stansberry Research.

Right. And at the end of the day, I believe that XRP is going to function so importantly as a complement to the US dollar and all the other fiat dollars of the world as a bridge between them, acting as a new oil or a new grease for this new digital system that we're moving to. They'll get it figured out.

So for you, is it the one world currency?

You know what, uh, no, I don't think so. I think it is a bridge to all the currencies, and I think that's a— and I don't want to act like I'm trying to, you know, parse words here, but I, I do believe it is a complement.

See, so a complement to the fiat currencies, and that's exactly Chris Larsen's, uh, thing right there. Um, but This is facts, right? This is absolute facts right here. It will be the new oil or grease for the new system. So great clip from Digital Perspectives there. Then we've got this great clip of John Deaton on Fox News.

Said there's no clear lanes, but they do this deliberately. You think he's— they deliberately leave these gray areas? Oh, absolutely. Because if you provide guidelines, what do entrepreneurs and companies do, Charles? They meet those guidelines. When you keep it uncertain, it gives you options for him to continue to engage in regulation by enforcement, right? That's how he's doing it. I went on record to say that, to predict that he's going to sue an exchange or two by the end of this year and claim that they're selling unregistered securities other than Bitcoin, but he won't tell you which ones are securities, right? You know, that's the problem, right?

Right.

It's hard to be ignorant of a law that if the law doesn't exist exist. Exactly. Absolutely.

It's one thing to say, okay, I didn't know it was on the books, but you're, you know, it's really despicable.

It's disgusting, really, is what it is. He keeps going on record to saying these exchanges are selling securities, and then you ask, well, which ones? And he won't say, because now we know from his comment that you just asked me about, he's going to go with they're all securities except for Bitcoin, which makes this Ripple XRP case Extremely. I'm gonna get—

if Gary goes that route where he says all cryptos are securities, like, this industry is in for a rude awakening for sure. And that's what we do want to avoid, obviously. Um, I do love how these Fox Business people are just so enthralled in this XRP stuff. They're literally the only news outlet really covering it in depth, um, and supporting it, actually supporting XRP in it. So that is amazing. That's an amazing clip from John Deaton showing you how important this lawsuit is. Um, and then we've got this guy, this guy, um, I don't know who— oh yeah, Joseph Grundfest. Uh, Joe Grundfest, professor of law and business at Stanford Law School, basically explaining, um, Bitcoin and why it maybe won't work. So take a look at this 2-minute clip. So it is longer, but But the way he puts it is very nice.

Looking at it carefully, there really is no such thing as a trustless system. The issue is whom do you trust for what purpose? All right. And even— and let's go to Bitcoin. Okay. Sure. You don't have to trust the United States government. But what you don't realize is you're trusting the Chinese government. Right. Why do I say— wait a minute. When they invented Bitcoin, did anybody say, 'I'll tell you what, we're going to structure this so at the end of the day, in about 10 years, the Chinese government is going to have de facto control over Bitcoin'? No. Why does the Chinese government, in my view, have de facto control over Bitcoin? Simple. There are these operations that are called miners, right? The miners, as a practical matter, run and replicate the blockchains. Okay, and in order to be an efficient miner, what you need today is to have specialized chips. These are ASIC chips, and these chips are not cheap, and they don't come in your laptop computer. The other thing that you need is cheap electricity because Bitcoin is an electricity hog. When you have to solve the algorithmic puzzle that leads to the replication of the database, You use a tremendous amount of energy. So you couldn't do this here in Silicon Valley because PG&E is going to charge you too much for the electricity.

And then shut it off, right?

Right, exactly right. I was going to say, assuming you can get the electricity, okay? So what happened in a way that the founders of Bitcoin did not anticipate, and here's the key thing, The founders of Bitcoin are much better mathematicians than they are social engineers or political scientists. It may be, all right, that the founders of Bitcoin are mathematical geniuses, but if so, in my view, they are idiot savants. All right, fantastic at crypto, but in terms of understanding how the world would evolve once you introduce this kind of tool into the—

super good point right there. Basically saying that, I mean, that was the intention of Bitcoin though, sort of, is to drop this, this beautiful genius thing onto the, onto society and see what happens. But he's basically saying they, they didn't know what was going to happen. So very good clip right there. That is all we've got for the daily market update. Make sure that you follow all the socials below. I love every single one of you, and goodbye.