$3.1 Million Bitcoin Transaction Fee!! – 270

Is BT miners BT miners has been a Longtime sponsor of the channel and a Proven reliable source for Asic miners If you are looking to purchase ASX Hardware from Bitcoin to Dogecoin miners They are available for purchase on bt- Miners.com BT miners has recently Launched an app on IOS and Android that Let you browse their inventory by Profitability and return on investment Follow the affiliate Link in the Description and use promo code s o a t For a Discount the SEC in the United States Has kind of been on a war path against Multiple cryptocurrency exchanges and They are now suing Kraken and this is Going to be you know obviously impactful To cryptocurrency as a whole the United States SEC is suing the Kraken crypto Exchange charging the platform with Operating as an unregistered Securities Exchange broker dealer and clearing Agency the commission put out a release Today revealing the suit and its charges According to the sec's complaint quote Since at least September of 2018 Kraken Has made hundreds of millions of dollars Unlawfully facilitating the buying and Selling of crypto asset Securities Additionally the commission says that Kraken combines the services of an Exchange broker dealer and clearing Agency however the SEC alleges that

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Kraken does all of this without having Registered any of those functions with Them as required by law furthermore the SEC is attempting to charge Kraken Crypto exchange with the following and The these are the bullet points provides A Marketplace that brings together the Orders for Securities of multiple buyers And sellers using established Non-discriminatory Methods under which such orders interact And thus operate as an exchange engages In the business and affecting Securities Trans transactions for the accounts of Kraken customers and thus operates as a Broker engages in the business of buying And selling securities for its account Without an application exception and Thus operates as a dealer and finally Serves as an intermediary in settling Transactions in crypto asset Securities By Kraken customers acts as Securities Depository and thus operates as a Clearing agency furthermore the SEC Planes in the lawsuit the Kraken risks Its customers personal and financial Information with its business practices And poor recordkeeping now this is Something that obviously across all of Cryptocurrency has been an issue from The very get-go especially as a pertains To kyc and this is where things get Really interesting because you kind of Find the the it's not the pot calling

The kettle black but the requirements of The SEC for exchanges to track customer Data And the the risk that puts individuals At by having multiple exchanges that Then that have all of the customer data That can then get leaked I mean Obviously non kyc exchanges are the best Route to go but even with those you risk Of course on the other side of that some Some you know more sketchy practices Like of course with the most recent Trade ogre ISS issues and locking the Caspo withdrawals thereby basically Destroying the price of caspo on that Individual exchange while it skyrocketed On other exchanges and users that had Caspa trapped in that particular Exchange Gone Forever at least those Profits in general so you know once Again what does this all mean at the end Of the day it means that you need to Self- custody your Cryptocurrency don't get lazy about it Especially in the term urist times if That is a proper way to use that term I Think it is because at the end of the Day you can only take responsibility for Yourself and blaming an exchange for Whatever ill practices they commit is Not going to protect you and your money Remember cryptocurrency is supposed to Put the power of your finances back into Your hands and that means that is your

Responsibility with great power com Great responsibility we'll Echo that Till the day I die when we discuss Cryptocurrency in general here's an Interesting thing that happened of Course we had also CZ uh steep down I Presume everybody's aware of that that's Within cryptocurrency because every Single cryptocurrency YouTuber has Covered it so I didn't feel the need to Cover it but that correlated to a huge Dip in price of Bitcoin in fact people Were worried that we were going to start Trending back downwards but Bitcoin Recovered quite quickly going back over $37,000 and has had the largest Transaction fee of all time hit the Network at $3.1 million us can you Imagine being a solo Miner with like one Of those USB sticks that just hits that Block that would have been amazing of Course that didn't happen but antpool Mined it so if you're mining on antpool The past week congratulations Unfortunately I was not But someone paid $3.1 million in Transaction fees for a Bitcoin transfer On Thursday Bitcoin miner antpool was Rewarded for mining the block it Received the standard 6.25 Bitcoin as Well as 85.2 Bitcoin in fees for all Transactions included in the block Today's transfer mined in Block

8,087 becomes the largest transaction Fee paid in bitcoin's 14-year history The sender wallet was set up just Minutes before the transfer and the Recipient received only 55 Bitcoin of The original 139 Bitcoin that was sent Whoopsies in September F2 pool returned A 19.8 Bitcoin fee that was mistakenly Sent by paxos ant pool a mining pool Owned by bitm has not published an Announcement in relation to the overpaid Fee recently Bitcoin fees have Experienced a significant uptick Following increased activity around Bitcoin-based nft project ordinals However this transaction appears to be An individual error instead of a wider Market Impact speaking of how fees though Impact the having cycle of Bitcoin it's Important to note that once we get the Fees up to the level of the base block Reward we will break out of the Traditional four-year having cycle I Think we're still quite quite a few Years out from this but with the onset Of ordinals on the Bitcoin blockchain This could definitely accelerate us Breaking out into a macro cycle and Leaving the four-year having cycle Behind will that happen this time no Will it happen in the next having Possibly it'll be interesting to follow

This along because at that point you Will definitely be not playing the cycle Game anymore if you want to learn more About playing the four-year having cycle Game please check out my crypto ecourse At sonof ach.com and that also includes A month free of local Status thanks for watching this clip From the crypto mining show you can Check out the full episode here and Don't forget to subscribe down here as Well you can also check out my crypto Mining ecourse at Catch.com where you can get a free month Of supporter status with a purchase at Sonof tech. locals.com also don't forget To check out my merch underneath the Video or at shop.of ach.com I'll see you Next Tuesday

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