Bakkt BTC Launch DISASTER & Google Claims Bitcoin is DEAD (2019 News)

welcome to the back tacular over the
last 24 hours bakkt has now launched but
the question is why after a full year of
anticipation are we seeing more red
today than a wedding in Game of Thrones
in this video I’m gonna be showing you
exactly how and why the whales are gonna
try to get you to fold your crypto hand
one last time when you should be
thinking about going all-in hey guys
welcome to bit boy crypto your one-stop
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today we’re gonna be talking about
Bitcoin price going down in spite of the
fact the Bakkt is launched we’re gonna
try to give you a little bit of a
historical perspective on what could
have happened here and what you can
expect for the future and what I think
is maybe a conspiracy we’re gonna be
talking about Google quantum supremacy
what that means for cryptocurrency and
how that ties back into to this story so
before we get to all that though make
sure that you do hit subscribe on the
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information it’ll be somewhere above me
here in a second so here we go guys this
is a tweet that I put out yesterday
that’s very relevant to what’s going on
today bakkt launches tomorrow actually
launched last night I think at 8 p.m.
Eastern in the United States so bakkt
launches tomorrow Bitcoin could reach six
figures eath could reach 500 XRP could
reach three dollars those are all just
meme amounts that I made up but most
importantly none of that will happen get
ready for a dip so I did tell you guys
yesterday that the dip was coming and we
have seen it if you look at all of the
red there are some small gainers linked
up 1% litecoin up half a percent but bitcoin down almost a whole percent back
in 9800 at the current moment and
we saw yesterday it was hovering
around 10,000 and this is one of those
things right buy the rumor sell the news
but there’s a lot more going on right
now with this story so if we look here
at the back launch today let me go and
refresh this page and see now look at
the difference guys look at what has
happened just in the last hour and a
half the number of of contracts traded
is now 44 last night in the middle of
the night people were making a big deal
because it was around 14 it just an hour
ago it was at 29 and now we’ve seen this
volume start to move up so we went from
29 contracts to 44 contracts in just a
couple of hours so we are starting to
see as the trading world wakes up
across the United States you know by
time zone we are saying that we are
getting some volume it is picking up I
think we will see this volume pick up
quite a lot but I think we’ll look back
and a will look back in about six months
and look at the volume and we’ll see
just how minuscule this volume is right
now going on with bakkt so what is going
on here well right now I’ve got the
price pulled up of the Bitcoin chart in
between let’s see what days this is in
between November 9th of 2017 and
February 6th of 2018 so what happened
during this time well we saw the launch
of the CBOE and the CME futures and so
that happened between the 10th and the
17th of December so let’s look at what
happened there okay for the numbers so
right now or on a Sunday December 10th
when the CBOE futures were launched the
Cimiez are the much bigger ones that
were launched on 17th the Bitcoin price
was at $17,000 during that window it
actually hit an all-time high of 19
thousand six hundred and sixty-five
dollars and then remained relatively
steady still above nineteen thousand
until the seventeenth this is the day to
CME futures were launched and look
at what happens after look at the
carnage so in the next four days in
between the 17 in the 21st Bitcoin
dropped 29% so it dropped down to about
$14,000 now you may have seen a lot of
people calling for a seventh
thousand dollar Bitcoin due to the
technicals or whatever they might want
to talk about how however we look back
and this was a twenty nine percent drop
over a few days which right now where
the prices would put the price around
seven thousand dollars so those numbers
kind of match up if you believe that
we’re having a breakout to the downside
so when we look comparatively to what is
going on right now and what happened in
2017 these are basically vehicles for
investments so if we look at this quote
right here I thought that this was very
interesting this is from an article back
in 2017 when the futures were launched
and it said more investor funds are
coming but this very important guy’s
Wall Street just loves new products they
can sell to generate more fees and
commissions in an area in an era in
which fund fees have dropped to the
basement they stand to make billions
from new vehicles this is why these
investment vehicles futures incoming
options you know the physically backed
Bitcoin futures contracts we have right
now with bakkt these generate fees and
commissions for wall street so
that’s why when you look at the chart
and this is upcoming you see this kind
of accumulation stage here this is going
back to the beginning of September to
where we are now and you basically see
that the Bitcoin price has not done much
as some people may be accumulating in in
expectation then we’re gonna have a big
breakout to the upside or the downside
now you may have seen this triangle on a
lot of different channels this little
pennant here and what a lot of channels
are saying is that we are going to have
a huge Bitcoin breakout to the upside or
to the downside now if we see the
breakout to the downside it could hit
that seven thousand dollar number which
would line up with the the fall that we
had after the original US dollar back
physical US dollar settled futures
contracts in 2017
however a lot of technical analysts are
saying that we have a lot of buying
pressure and it’s really the whales that
are keeping it in the
range right here now look guys by the
time we get to this range which is near
the end of October by the time we get to
the end of this we will have a breakout
there’s gonna be either a breakout to
the upside or the downside in the next
let’s see 23 in the next 30 days for
sure probably sooner than that I would
say we will see a breakout for Bitcoin
going way up as high as 13 to $16,000 or
as low as $7000 in about the next eight
days we are gonna see that starting to
form so that’s basing that off of the
history what happened in 2017 I think
though we’re going to go to the upside I
think that we’re gonna see basically and
the opposite of what we saw in 2017 I
believe we’re gonna see these numbers go
up and they’re gonna be going up very
drastically probably in the next eight
days I think we will see a breakout here
so you guys can be expecting that so
what was it in 2017 that drove the price
down now of course there’s manipulation
in the market things like that but one
proven strategy was fud was to basically
give news about Bitcoin to make the
price crash now if we go back to some of
the stories that were in between
December 10th and December 17th in 2017
here’s one us woman used Bitcoin to move
cash to Islamic state appealing to the
worst fears of Americans the worst fear
in America is terrorism it’s that at any
given moment you know whether it’s
domestic terror terrorism or foreign
terrorism that it ain’t given moment you
can just be minding your business doing
anything you were doing in your regular
life and then there’s a terrorist attack
like we had in 2011 so this story right
here appealing to that if you go through
this story and you look there’s no
source for it it just says court papers
suggest that I definitely don’t think
that BBC is just scouring all the
criminal reports across the United
States looking for something to say this
was a story that was given to them from
somewhere else so then we look here tax
investigators raid Bitcoin exchanges
across India we know at that time there
was a lot of fud going on in India and
this story would have been on September
no that’s today’s date this story was I
don’t have a date for it but there was a
date when I clicked on it so um this was
also during that period so we looked
here’s another story
EU agrees clamp down on Bitcoin
platforms to tackle money laundering
also an article that was written during
this time period kind of trying to fan
the flames of you know money laundering
and Bitcoin is for evil people then we
had this story from Newsweek my favorite
Bitcoin mining on track to consume all
of the world’s energy by 2020 that’s
right guys in a few months we’ll never
see electricity again thanks to Bitcoin
just showing you how asinine of a claim
this was in 2017 the Bitcoin mining will
consume all the world’s energy that’s
absolutely crazy yet these were the type
of stories they were being reported to
help push the price down so what story
is being pushed now to push the price
down well cryptocurrency is over it
doesn’t get any better than this Google
may have just ushered in an era of
quantum supremacy a lot of people are
mad at Google for using this phrase
quantum supremacy because it’s offensive
I kid you not but basically this is a
quantum computer now what Google claims
is that they now have a computer that
can break cryptography which if you
remember recently Google said that they
were trying to aim to create I think a
cryptocurrency competitor so or maybe it
was Amazon can’t remember who it was but
now all of a sudden they can break
cryptography this is a quantum computer
here now what you’re looking at is very
interesting I’ve been doing a lot of
research on quantum computers and I knew
that to have one you have to have almost
absolute zero temperature so the
temperature inside of a quantum computer
is actually colder than interstellar
space so I shows you how complicated
these things are to make but it’s really
just kind of like looks like a laser you
know like in a cartoon or something they
have a laser that points somewhere that
will like destroy the world that’s kind
of what it looks like or like the thing
coming down out of the independence day
alien ships whatever alien ships have
you will but here’s the story Google has
said they have these new computers they
basically what they’ll be able to do is they
can solve complicated math problems in
like a few minutes that take even the
most powerful supercomputers that we
have today
take them ten thousand years to solve so
is this a threat to cryptocurrency well
of course I mean this article you know
and a lot of other articles written
would seem to suggest that that the
cryptography is over we have these
quantum computers now that exist and
even though they’re so difficult to
create the fact is is that if there’s
one of them in the world you would have
to worry about you know some evil
dictator taking it over and maybe being
able to destroy the world’s financial
system if we were all to move over to
cryptography and cryptocurrency it’s a
bunch of overblown hype I’m gonna tell
you guys why and I’m also gonna tell you
guys exactly why I feel like this is a
story that has totally planted in order
to FUD Bitcoin I know it sounds crazy
but let’s look at the facts here guys
NASA NASA put this story out everywhere
you read it basically says that what
happened is NASA put out this story on
their website and then Google had them
immediately remove it so basically this
is a leak the paper you cannot find the
paper anymore you may be able to find
someone who’s reproduced it for a web
browser but the actual paper that was
originally posted by NASA was gone in a
few hours so it was posted last week all
of a sudden all this news came out and
then it was taken down a lot of Google’s
competitors are saying that this is not
even real this is not something that can
actually even be proven and we’ll be
looking at that however do you guys
think it’s a coincidence I want you guys
are really think about this do you guys
think it’s a coincidence that the very
same weekend that bakkt is going to
launch and bring institutional investors
in that NASA accidentally leaked a paper
explaining why quantum computers will
destroy cryptography guys it’s crazy and
it might be a coincidence
I highly doubt it though the fact that
Google came in right after that had them
remove it it looks for like smoke and
mirrors like oh we didn’t mean to put
this out this weekend guys however it
certainly seems like there’s a
connection there so here is a quantum
computer company d-wave now
I’m gonna show you guys this is crazy so
the computer is housed inside this house
up here the housing it’s housed in a
house believe it or not and then this
part on the front side here this is
actually just like the I’m can’t
remember I can’t think of the word right
now but the terminal this is like the
terminal if you will okay where you do
all the work but the computers house
inside okay like you can see this guy
here working on this quantum computer
the computer is in the bigger part now
it’s kind of like a bag of chips it’s
real big but if you open it up there’s
not much in there so if you actually
look at the computer itself that’s all
it is right there that’s it
this is what is hanging inside of this
super super super cold interstellar lis
cold housing unit okay and you can see
what the temperature has to be at each
level because what a quantum computer is
actually trying to do is like get to
subatomic levels to where the you know
binary code right zeros and ones like
every P was a binary choice that means
one or the other 0 or 1 but with quantum
computers you can actually get the zeros
and the ones to exist at the same time
which makes computer processing so much
more powerful so I’m not a computer nerd
so I can’t really explain it more than
that but I thought that was pretty cool
this is this is what it looks like so
can it is this true
ok did Google crack this will quantum
computing destroy cryptography so here
we go this is talking about quantum
computers but it isn’t all good news
quantum computers pose a serious threat
to most modern cryptography because
they’re extremely powerful quantum
computers will eventually be able to
break many encryption schemes that are
currently in widespread use whoo
that’s scary guys can you can you
imagine a world where our current form
of cryptography gets solved well of
course you can because we’ve seen it
many many many times in history this
will not be the first time this is a
history of encryption it is a graphic I
know it’s a little grainy sorry about
that but encryption goes all the way
back to 500 BC and guess what
every time encryption gets solved they
create a more complicated encryption now
in the Year 500 they obvious
did not or 500 BC they didn’t have
computers they didn’t have super
you know techniques and methods to
encrypt however you guys need to
remember this it is much easier to
encrypt than it is to break encryption
okay you guys remember that that is the
key thing here but as technology has
advanced we were able to come up with
more complicated ways to encrypt then
you have to come up with more
complicated ways to break the encryption
so it goes back to 500 BC then we had
the Caesar cipher frequency analysis
polyalphabetic cipher the Jefferson Weil
Enigma machine Cryptologic bombs okay so
in 1977 we had data encryption standard
56 now we use the advanced encryption
standards which are either 128 192 256
bit you may have heard of sha-256 that’s
basically what that means now very
interesting how long does it take to
crack sha-256 there’s 7 billion people
on the planet if every person on the
planet owned ten computers and each
computer can test 1 billion combinations
per second it would take 77 and about 30
zeros behind it is that right note
18 24 77 with 24 zeros behind it I don’t
know what that number is that’s how many
years it would take to crack however now
with the quantum computing it can be
cracked in a short period of time so
what does this mean this just means we
need more characters in the encryption
so if you look at what is a bit here um
here’s the key size formula if
something’s one bit it has two
combinations which would be zero and one
I believe and then it’s 64 bit it’s got
this crazy number over here you know 2
to the 64th power at 256 obviously it’s
4 times that so it’s just time for us to
evolve into the new level of encryption
however many zeros we have to add to the
encryption or how many characters that’s
what we’ll do so it’s not that big of a
deal guys we’ve seen this happen over
and over and over again so you don’t
think Google knows that and yet they put
this out the same weekend that Bakkt is
dislodging very very very fishy to me
guys and I think there is definitely a
tie-in so I think there was something
else I want to say here
um and this this is another thing
important here critical currency is just
one small corner of the tech world and
many researchers are working on a post
quantum security solution for example
this is very huge here guys
Google and CloudFlare partner to
experiment with quantum secure
algorithms in June the goal of this
effort is to improve Internet security
in general but it is not clear if this
will benefit cryptocurrency in general
nevertheless quantum resistant security
research is thriving so yet kind of
another tin foil hat theory we have
Google explaining or we have Google it
is reported is working with
CloudFlare to create post 256 encryption
solutions or as they say post quantum
security solutions this means that they
put out this paper and they explain
quantum computing is going to break
encryption as we know it oh by the way
guys we’re working on those security
solutions so when you’re ready to secure
your platform come on over to us they’re
basically trying to create the problem
so they have the solutions so they can
control the world even more they’re
trying to create a problem that it has
already solved in order to make more
money obviously is what is going on here
and I think that is all I want to talk
to you guys about today but here’s the
important thing guys to know the Bitcoin
breakout it is coming is it gonna be on
the upside or the downside we’re not
sure yet but I personally believe that
we will break to the upside start on a
new pennant moving to the side
I think $16,000 is in the realm of
possibility so of course I’m not a
financial advisor but I know during this
time I’m also trying to accumulate when
the whales are trying to accumulate I’m
also trying to accumulate so hope you
guys enjoyed this video don’t forget to
smash the like button we’ll be back with
a live stream later today maybe the two
hash this out a little bit more and no
pun intended bit boy out.


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