Coinbase is Leaking User Information | XRP Lawsuit (Bitcoin News 2019)


Is coinbase selling all of their users
information? well a New York Times article today suggests that that could
be the case and we’re calling on coinbase to answer. welcome to bitboy crypto your one-stop
shop for all things Bitcoin and cryptocurrency. today we’re gonna be
talking about a lot of interesting news stories, some of them that may not have
the profound impact today was not a sexy crypto news day but there’s definitely a
huge story going on as a New York Times article seems to indicate that coin base
is leaking customer information and the implication is right that they have to
be selling it. so I’m calling on coinbase to answer the New York Times article. I
want to hear exactly what happened we’re gonna talk much more about this story in
just a few minutes. let’s hit the markets. market watch alright guys nothing too
sexy going on with the market like I said. the Market cap is down just a little
bit at 251 billion dollars you guys can see up there Bitcoin dominance has
dropped its 66.6%. we’ve been seeing a few coins get really
big pumps obviously stellar is one of those Bitcoin is at ninety three hundred
dollars currently just down about a percent from yesterday after we had a
pretty good pump it has returned to the mean we have maximized coin lamda
algorri and by coin and comodo are the biggest gainers of the day Vechain
coming in at number six. big losers of the day ERC twenty molecule future what
the heck. Chilly’s bytom and digi byte and of
course bytom is right next to Chili’s because they have baby back ribs and I
sure would like to bite them. okay guys let’s move on to the news. number one top
story of the day: so this is an absolutely fascinating story about
something that I didn’t even know existed and for someone that is
constantly immersed in learning new things about privacy there’s not a lot
that surprises me, but today I was honestly and genuinely surprised
by the fact that we have secret consumer scores collected and rated by third
parties that you didn’t even know that you had. one of these companies is called
sift so if you would like to get your sift consumer score you can do that by
emailing privacy at sift comm there’s plenty of more Zeta global retail
equation customer with a K and Riskified so very interesting that we have
these scores I didn’t even know that we had any that you can request them and
these things affect things such as whether or not a store will take your
return your and give you a refund or even how long you wait on hold while
you’re on the phone with customer service so totally crazy that that’s the
case. now here’s the thing guys coin base is giving your information to sift and
you gotta wonder if they are giving your information to sift then where else are
they giving it to what’s the benefit to coin base unless they’re selling it so
in my opinion they’re probably selling it and I think we need to call on
coinbase to answer what is in this article and I’m doing that if you go to
Twitter and you can look up my one of my latest tweets you will see I am asking
coinbase to do it so as of this summer Sift does have a file on you which you
can produce upon request I got mine and found it shocking more than four hundred
pages long and containing all the messages I’d ever sent to host on Airbnb
years of delivery orders a log of every time I’d open the coin base app on my
iPhone many entries included detailed information about the device I used to
do these things including my IP address at the time SIF knew for example that
I’d used my iPhone to order chicken tikka masala chicken tikka masala I
don’t know how to say it I don’t need that kind of food vegetable samosas and
garlic man on a Saturday night in April three years ago a new I used my Apple
laptop to sign into coinbase in January 2017 to change my password it also knew
about a nightmare Thanksgiving I had in California’s wine country is captured in
my messages to the Airbnb host of a rental called cloud nine
coin Bay’s why are you giving our information away you’ve had enough
with questions regarding security with people having to do things like you know
not your keys not your crypto date to take money off of your exchange because
we can’t trust exchanges and yet you’re giving our information to third parties
so if you have enough security to keep yourself from getting hacked now you’re
having to extend that same grace to another third party company and hope
that our information doesn’t get hacked there and this goes against everything
that cryptocurrency and decentralization stands for and coinbase I’m calling on
you to answer this and explain to us why you are giving our information to third
parties and honestly these are the type of reasons that people need to learn
ways to get on other exchanges because coinbase just seems to really have no
morals when it comes to what they’re willing to do with our information in
our security story number two European Union has now drafted a law that
suggests they are exploring their own cryptocurrency called euro coin now I’ve
told you guys for a while that this is a plan that a lot of the countries have
which is its fashion old-fashioned right if you can’t beat them join them what a
country having its own centralized blockchain will do will allow them to
track all of the money which is kind of defeating the purpose of this entire
cryptocurrency movement they’re basically trying to camouflage
themselves as crypto friendly and this is what we want and yet bringing on or
bringing along with it the absolute worst worst traits of
controlling governments which is basically tracking every transaction
that we have and we just saw in the last article how crazy tracking has gotten so
it what this will allow Europe to do is not just from a point of one country
allow tracking but all across Europe there will be a lot a below transaction
that is made with this euro coin now will this ultimately happen I’m not sure
but we did just see a story yesterday about the Bank of England also
considering its own cryptocurrency so I think we’ve really kind of seen a shift
in the way that countries are looking at crypto at this point there they’re
trying to figure out how they can get on the train and how they can be the
conductor of the train instead of laughing at us so we’ll just have to see
where this ends up Story number three so sometimes you can judge the actions of a
political body if you will not necessarily by what they’re saying but
by what they’re doing because the message that the Federal Reserve and
that the government at large in the United States is communicating to us
directly is we’re scared of cryptocurrency
we want to regulate it we want to regulate it to death
we want to stop Libra coin from happening we’re scared it’s going to
take over as a national currency or an international currency but sometimes you
look underneath and you look at what they are doing not what they’re saying
and you find stories like this that are very interesting so the Federal Reserve
has a crypto job post and this suggests the US won’t line down in a Bitcoin arms
race I believe the United States understands now that this is serious I
don’t think they understood when they opened the Pandora’s Box of
investigating Libra what the reverberating effects were going to be
and the biggest of those of course being the fact that China has seen our
weakness and is now going for the jugular by going all-in and blockchain
so I think that the the seriousness of this has been noticed and now the United
States is going to be making moves to position themselves to basically be able
to be on par or better with the blockchain arms race or the space race
that’s going on between United States and China regarding cryptocurrency and
blockchain so very interesting now the US Federal Reserve is showing it to does
not want to be left out after posting a job for a retail payments manager that
will facilitate innovations research around digital currencies stable coins
and distributed ledger technologies so if you’re an anonymous cartoon account
on Twitter that knows about cryptocurrency maybe you might want to
apply for this job he can give us all the inside info story
number four so ripple is currently being sued and it seemed like for a while that
they were gonna be able to get the case dismissed but that’s actually not the
case anymore so ripples argument that an X R P holder waited too long to file
suit has no precedent a new legal filing claim so basically when it comes to
crypto currencies or selling of tokens there’s been no precedent established
that there is a statute of limitations and the court has basically said that’s
there’s no precedent so we’re gonna allow this lawsuit to continue so what
is a lawsuit about szostak is the court designated a lead plaintiff in a
long-standing legal battle ism is Bradleys so stacked by the way with
ripple and its CEO Brad Garlin house based on claims the payment startup
violated u.s. securities laws by selling XRP to the general public in promising
that the tokens value would spike the plaintiff is claiming he lost 118
thousand and one hundred dollars through his XRP investment according to an
August filing this is what I will say on this it’s an investment I don’t know of
any investment out there in the world that does not come with risk and one
thing I hate is when people don’t take responsibility for their actions when
people don’t take responsibility for the fact that they got themselves into this
mess so basically what it is is you’ve got a bunch of XRP holders that bought
at the top probably and lost a ton of money as you can see they’re 118
thousand dollars and they’re bitter and they’re looking for someone to blame
but the fact is the blame is on you Bradley so sack but the fact is it’s
your fault there is no company in the world that
guarantees you returns and if they do it’s probably a Ponzi scheme and you
should have done a little more research than invest in a Ponzi scheme ripple is
not a Ponzi scheme people believe that it is centralized and there’s a lot of
things that people don’t like about it but it’s not a scam per se you could
argue that what ripple believes in and what XRP is does not line up with a lot
of what the rest of the cryptocurrency ideals are
but it’s not an outright scam you lost money because the price went down on a
volatile asset and in my opinion that’s your fault Story number five I’m Big Boi
AFRICOM we reported on the veritasium allegations from the SEC they had an
emergency order put in so they could stop I believe the CEO from leaving the
country Reggie Middleton so now they have
entered settlement talks with alleged fraudulent firm veritasium now only in
crypto only in crypto can a project absolutely pump wild there are ongoing
talks of fraud and allegations from the SEC with your project so what happened
is regimental din tried to rebrand veritasium in order to avoid security
laws and that was kind of the last straw for the SEC so they swooped in they made
sure that he couldn’t leave the country and now they’re in talks now we’ll
veritasium get a slap on the wrist like eos Scott or will they get the book
thrown at them like Ken has had done now to me if the whole project is based on
lies which was the implication or the indication from the SEC regarding
veritasium how can they let this project live I don’t know I mean we’ll just have
to see but I thought this was really interesting after the SEC requested to
freeze the defendants related assets on August 12th veritasium saw a sharp drop
from $16 per token to as low as four dollars in 30 cents on August 13th
however the token is a notable growth since then it pressed time their token
very is up 26 percent over the past 24 hours to trade it over $17 also seeing a
whopping gain of nearly 45 percent over the past seven days guys you can’t make
this up this is why I think people don’t take cryptocurrency seriously you have a
project people are saying was a scam from the get-go like complete scam
over-promising under-delivering lying misrepresenting and yet the project has
been since the allegations bottom dit out so
I don’t know what to make of it we’ll just have to see right now it’s coming
in at 226 on coin market cap hopefully it won’t be able to crack back into the
top 200 I know some people might be invested in it and if you are I’m very
sorry but I’ve said for a long time I didn’t like this project if they get off
with just a slap on the wrist I think that’s bad for the space in
general but it’s super bullish for a cryptocurrency on a larger scale because
that means that pretty much all of these projects that are just one sec phone
call away from dying are probably going to get a stay of execution so guys thank
you so much for watching this video I’m going to be in Orlando tomorrow and an
event hosted by UCF for the University of Central Florida we’re gonna be
talking about blockchain education decentralized America tour is going and
starting tomorrow night you guys make sure to check out decentralize America
comm for more details join the mailing list on Big Boi career.com
to get more details on the tour so thank you guys so much for watching the boy
out

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