40 Burst results for "75%"
Dennis Prager Podcasts
A highlight from Dennis & Julie: Exciting versus Enduring
"Hey everybody, Dennis Prager with Julie Hartman, Dennis and Julie. One of my favorite hour and 12 minutes of the week. Me too. Isn't that amazing? Yes. And what's also amazing is that we actually do probably three or four Dennis and Julie's a week that are not recorded because we talk on the phone so often. And sometimes, I don't know if you think this, sometimes when we're done speaking, I'm like, wish that were recorded. Really? Yes. That's an interesting point. But you know what's also great? We are very personal on this show. There's really, I can't think of many things that we talk about privately that we wouldn't talk about publicly. I think people understand that. That's why that guy called me and I've talked about this a lot, said, I have a great word for you Dennis, transparent, because I decided early on in my career that as unnatural as it seems, because people obviously hide parts of their lives from others, I thought I'm going to hide as little as possible. That's why people say to me more often than any other things when strangers meet me, you know, I feel like I really know you and I'm sorry and I say, you do. I can attest to that as someone who knows you off the air as well as on the air, listeners really do know you. It's also just easier being transparent because I can imagine that it's difficult to have to think, oh, did I say that? Should I say this? That's right. It's just kind of your default. It's like it's easier to be faithful than have an affair. Aside from all the moral issues and the hurt of my spouse, all of that stuff, putting aside that they're all real. A major reason not to have an affair is because of the amount of hiding you have to do and lying. It is not possible to have an affair and not become a serial liar. Well, one lie begets another lie, which begets another. It has to. I mean, if you say I was at the doctor's and they say, how was it? And then you go, yeah, let's say your wife runs into the doctor. You know, like it just it's this tangled web of of deceit that's I can imagine difficult to keep up. You know, in that regard, it's amazing how our conversations just developed. So I'm going to say something that will strike people at the outset as odd at best and maybe even bad at worst. So when I meet somebody who's having an affair, because people open up to me, in most instances, my first reaction, I may know more and change my reaction, is I feel bad for them. I obviously feel bad for the spouse, that's a given. But my sense is, and by the way, I believed this when I was your age, well before I was ever married. I sensed that most people who have an affair, it is not because they're bad. And oh my God, I can't believe I'm saying this to you. One of my favorite Bible commentaries is by Richard Elliot Friedman. He is a brilliant scholar, University of California, San Diego now. I think he's at the University of Georgia, a major biblical scholar. And if I say that, you can believe me because I know my Bible. And he's written a commentary on the Torah, which I love. I love it. And obviously I'm writing my own. So I refer to his. Under adultery, in other words, the commandment, thou shalt commit adultery. He wrote, I wish I had the entire, I could find it, but we don't have breaks during Dennis and Julie, but I would like to read it exactly. But he wrote, and I just read this to my synagogue this past Sabbath, I read his line about this. That good people commit adultery, and he italicized good. And I thought that this guy's human. And I've been faithful, so I have no self -interest in this. But to assume that everybody who commits adultery is evil is beyond simplistic. You commit murder, okay, if that's not evil, you could say, well, you could say a good person could commit evil, could commit murder. It's a bit of a stretch. It could happen, but generally speaking, that's not true. But anyway, good people who commit adultery, and by good, I mean the non -serial adulterers people who just go from affair to affair, I have no defense of as a human being. You mean like a one -time thing? Yes, or fell in love. If somebody falls in love with somebody else while married, it usually means there's a lot problematic in the marriage. People in love with their spouse don't fall in love with another spouse. Okay, this is such a good topic, and I want to pause and say what we always say. We had no idea that we were going to discuss this. I love that about this show. It just blossoms. Because it's real. It's real, and it's incredibly spontaneous. Okay, a lot of questions. This is where I'm going to evoke the, what do you call your radio show, the Human Laboratory? This is where this is particularly useful. So most people who tell you about their infidelity, I'm assuming most of them are male? Or is it even? Yes, that's correct. What would you say the percentage is? Of those who tell me? Yes. It's high. It's 75%. Male? Yeah. Okay. And usually, do they tell you that they're unhappy in their marriage? Yeah. And what is the most cited reason for the unhappiness? They don't feel loved by their spouse. Loved in what way? You're tough. I'm not trying to be tough. She is tough. All right. Maybe, okay. You don't want to go there. No, no. There's nowhere I don't want to go. Anyway, even if I don't want to go, I go there. That's true. So, okay. For the record, generally speaking, a man who feels sexually fulfilled with his wife is going to stay faithful. This is so foreign to women that they just have to take my word for it. That's not how women think. Women do not have affairs because they're not sexually fulfilled by their husband. Some might, I fully acknowledge, but they don't feel emotionally fulfilled. That's much more a woman's reason, and I have just as much sympathy for her as for him. It's not, all I'm saying is, and I don't even remember how we got on this, but it's amazing that we did. How did we? Yeah. It's funny. I usually remember the genesis of a subject, but all I'm saying is when I meet people, my first reaction is not, wow, that's evil. If I met a murderer, yeah, or not even a murderer. Frankly, doctors who give hormone blockers to 10 -year -olds are doing evil. I have much more contempt for them than for somebody who had an affair. Okay, so let me ask you this. Let's say you got a call from a guy who was five years into his marriage. He has three or two young children, and he calls you and he goes, Dennis, I am not happy in my marriage. It's not awful, but I'm not happy, and I have my eyes on another woman. What do I do? Do I stay in my marriage that's unhappy, or do I leave because I'm unhappy? I'd say do everything possible to make yourself happy in your marriage, which by the way involves obviously working it through with your wife, but it also involves working it through with yourself. So, I'm a guy's guy. I'm male as as they come. So, men really relate to me. Happily, a lot of women do too, but it's not the same thing. Male -male is not the same as female -male. Okay, so I understand men really well, and I explain men to women. So, both sexes have to adopt the Prager notion of not having too many expectations. I think it's fair to say, nobody says this, because sex is ironic. We have a sexually drenched society, and yet people never talk honestly about it. That is very well said. It's mind -boggling. It's mind -boggling. You're so right, and people get upset when you talk about it. That's right, because I'm honest. So here is something I would say to men, guys, just know you are not going to have the sexual life you fantasized in the vast majority of cases. It's just the way it works. You mean when you get married? Yeah, when you get married. I'm sorry, that's right. I wasn't clear. Yes, when you get married. And therefore, you enjoy what you have. Now, obviously, I'm not going to give it a time factor limit. It's different when you're 25 than when you're 55 or 75. All of that is real. But I remember when I was in high school thinking, wow, to be married, you have this woman anytime you want. Oh, gosh. Such a male thought. Exactly. This was worth the entire broadcast. My comment and your reaction? I think I represent all women. Yes, exactly. Watching and listening. And I represent all men. That's the point. So that was my fantasy in high school. Oh, my God, it must be the greatest possible situation being married. She's there whenever you want her. So men… I just looked at the camera. So men have to understand it's not going to be that way. Are there exceptions? I'm talking in general, of course, there are exceptions to every rule in life. So I really ought to, if I had the time, I would write an advice book to men. Oh, you really should. Who is it? George Gilder wrote that man book? That man book? Sexual Suicide and the Naked Nomad. He deeply influenced me. So, men need to understand… By the way, we all need to understand… I don't know what women's fantasies are about marriage. Her fantasies are not likely to be fully realized either. So it's best probably not to have fantasy… I don't care if you have fantasies, it's fine to have a fantasy life, but in the sense of directing you in your emotional reaction is not a good idea. And in your reality, it can't direct your reality too much. That's right. So I have told men, I'll tell you where I feel for men. And that is, if they're married to a woman, I'm just talking the sexual arena now. If they're married to a woman who doesn't take care of herself physically, that's given the power of looks in the human species, it's the female that attracts the male. I know there are gorgeous men who attract women, but most men are not gorgeous. What attracts women to men is not that they're gorgeous. they're Certainly when reached by age of 30, a high school girl is going to go, Oh God, is he gorgeous? Oh God, you know, that's fine, it's part of life. But one of the biggest ways you show you love your husband is by taking care of yourself physically, trying to look good. And the proof is you tried to look good when you dated. Why did you stop trying once you got married? That's not fair to him. You're right, and it's not fair when men have B .O. and also don't take care of themselves, which I know you recognize. No, of course, but that's not the same thing. The B .O. holds for both, but looking gorgeous or as gorgeous as you can, I mean, looking cute. In peacocks, the male attracts the female. In humans, the female attracts the male. It's just the way it works. And if she succeeds in doing it, he gets aroused and they make the next generation. That is how human sexuality works. I really love what you said a few minutes ago about we live in this over sexualized society that also gets so upset when people like you and me talk about sexual matters, not to overhype our importance, but people who are brave enough to talk about sex within with a Judeo -Christian good values worldview are so valuable. I don't understand. Yeah, but a lot of them do, but they're not real. A lot of the religious people who talk about sexual matters are not rooted in the real world. So what is an example? Masturbation. Wow, welcome to Dennis and Julie. But the proof is nobody feels that they can talk about it. Yes, that's true. I mean, I debated a guy, very religious guy, seen by hundreds of thousands of people on the internet. He said, masturbation is evil. And he's speaking from a religious point of view. Evil? I said, I looked at him and I said, evil? I mean, if he says it's a sin, fine. Every religion has a whole list of sins. But evil? And I challenged him. I said, are you serious? It's evil? I mean, child molestation is evil. Genocide is evil. I know. Masturbation is the charge. Of course it does. So religious, you're right about the Judeo -Christian values perspective. Unfortunately, a lot of religious people have made religion look silly and people have therefore rejected it. You know, you're right. I think a lot of people point to something like that and go, that's just, that's too far for me. It's too far, exactly. It's difficult, the job of being religious, because you obviously want to promote good values, but you also want to be real and recognize that there are certain thoughts and proclivities and actions that a lot of human beings partake in. And so it's about mitigating the, I was going to say mitigating the harm of those, but allowing them to happen as long as they don't go too far or as long as they're not harmful. Yeah, that's right. So people should read a book by an Orthodox rabbi, Shmueli Boteach, who's a well -known rabbi, B -O -T -E -A -C -H, in English, Boteach, but it's pronounced Boteach, and it's called Kosher Sex. It's a great book. That's a good title. Great title. And whole his thesis is, you keep sex within a marriage, but within a marriage, do whatever the hell you want, providing the other person agrees, obviously. And, you know, as raunchy as it may sound to the outsider, if you two agree to it, the only restriction is that it's not with another. You know, God, of course, I forgot my train of thought. I just I really marvel at how real this is. And sometimes when you make these comments, I think, God, he is gutsy. He really goes there. You know, I am gutsy. I want to tell you, this is very revealing about me. People will take it for what it's worth. I decided very early in my life, if I want to do good in this world, that's all I've ever wanted to do. I will not shy away from putting myself out there and knowing I'm going to get slapped. And that's the reason I do it. It's not fun to talk about masturbation, but I know how many people are traumatized by the message you're doing evil. And it makes religion and God look bad, and I don't like that. Mm hmm. And here's the thing, also, it's uncomfortable to acknowledge, but it's the truth. People do the like I mean, this is the whole point of the conversation. People do these things. What are we going to pretend like they don't exist? We have to deal with them. And I think it's cowardly to run away. Look, I have told you, Dennis, that I grew up in a house that didn't talk about these matters. And I'm grateful, actually, because I think there are certain boundaries that ought to be respected. And I there's a time and a place to discuss things like this, but we do have that forum to do it. And I don't understand I don't understand when people deny reality. We are seeing the harm in the United States today of denying reality, including in the sexual arena. I mean, that's this whole hookup culture thing by by contorting reality to make women believe that they want sex as much as men is harming women. Plain and simple it is. Is it uncomfortable to acknowledge the reality of males extreme sexual proclivities? Yes, but we have to because we're seeing the consequences when we don't. So I applaud you. And I do think sometimes I'm like, wow, he he's really going there. He's gutsy. But but people need a good role model for these matters. Well, you don't make a good world if you're not gutsy. True. You can't build a good world on cowardice. And it's so hypocritical because people people have sex. People do these things. And I don't I don't I dislike the people that that are on some kind of moral high ground when they talk about this stuff. It's like, please, you do it to your human being. Don't act like you don't partake in these things that you decry. Right. And some of them probably don't. But my question is, are they better human beings in general? You know, I talked I said to you what Richard Elliott Friedman said, that a lot of people who commit adultery are good people. It's because it's it's weakness more than anything or or something else. I'm not talking about serial adulterers.
Dennis Prager Podcasts
Fresh update on "75%" discussed on Dennis Prager Podcasts
"So I guess my question to you is, do you, unlike the Biden administration and some on the Republican rhino side of the equation, do you have a limit to the generosity that you are willing to put forth to support the people of Ukraine? Right now we're at 113 billion. They say there's no cap and there's no time limit either, as long as it takes. They don't say to do what? Are you of the same mindset or do you feel like we have sent enough, enough is enough? Our country is being invaded just as assuredly as Ukraine's has been invaded. Six million crossers, not counting the 1.75 million gotaways, known gotaways. Then there are the unknown gotaways. That's just since Joe Biden took office. If all of those individuals wore the same flag on their shirt, if they were all from the same country, you wouldn't, you wouldn't just say, well, this is just, you know, asylum seekers. You'd say we're being invaded. Well, we are being invaded. And the president of the United States is going, is going around and cutting razor wire that has been put up by Texas, Texas Governor Greg Abbott. They put razor wire all along the border because Texas is taking 75 percent of the brunt of the illegal crossers. So they're trying to protect their own citizens, trying to protect their own resources. They're putting up razor wire and then Biden is sending feds to go around and clip it and cut it and make it easier for them to come in. The governor of Texas put buoys, big orange rolling buoys. Some of them also outfitted with razor wire to discourage anybody from trying to cross that river into Texas. And Biden filed a lawsuit to get him to remove it. He is not just not doing anything about the invasion. He is actively fostering it. He's he's making it happen. It's intentional. And yet we're going to spend one hundred thirteen billion dollars and counting on Ukraine's border. So my question is, have you seen enough? And here's the second question that's much more direct. The negotiations that are ongoing right now or that really, quite frankly, have been stalled. The negotiations on the spending bills, the appropriations bills, they're not going to get done by the deadline of September 30th, which means we're going to go into a shutdown on. I'm sorry, did I say December? Excuse me, if I did, I apologize. I might say September 30th, which means we're going to shut down on October 1st unless we pass a C.R. continuing resolution. Well, the Democrats and the Ukraine supporters have said any C.R. that gets passed. To fund the government during this period of time in which they continue to waste their time, negotiating the issues revolving revolving around the 12 different appropriations bills. They're including that there is the twenty five billion next Ukrainian outlay included. Some Republicans have said nonstarter not doing it. We will not pass a continuing resolution that includes new money on top of the one hundred thirteen billion for Ukraine because America's border has to come first. They're willing to shut down the government over that new outlay in a C.R. Do you support that? I want to find out where we are as a people. We are compassionate and we are giving, but we cannot be so compassionate for others plights. And we cannot be so giving to others causes to the point where it sacrifices our own needs. That's just not sensible. Let me put it another way. If you were hungry and you didn't have any money for your table. And your next door neighbor was also hungry. Right. And they didn't have money for their table and your next door neighbor found their way into some food and some and some and some some rations. Would you expect them to come and give it to you first and starve their own kids? Or would you understand they have to take care of themselves first? Because that's what I expect the Ukrainians to understand. We need to care for America first. If we have surplus money. If we have if we're swimming in insolvency and not in a sea of debt. And then we want to go ahead and give to help somebody else. Sure. Charity has to be offered. It cannot be forced or compelled. And that's what I hope our elected representatives remember. We'll be right back. New variants mean new shots and yes more scare tactics. Dr. Peter McCullough has stated that the most common question he's asked is how do I get this out of my body? Spike support formula is the only product I've seen that contains ingredients researched to block and dissolve spike protein in the bloodstream. So whether you got the shot you're watching research surrounding shedding becoming mainstream or you have a bad bout of COVID. Spike protein is a serious concern. 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The Bitboy Crypto Podcast
A highlight from How To Earn Free Cardano!
"If you want to stake your crypto without having to risk leaving your coins on an exchange, without having to lose custody of your coins, well, staking on Cardano has never been easier, and we're going to go through some options. Let's go ahead and discover crypto. Alright, well, first, why would you not want to keep your crypto on an exchange? Okay, within the fine print of these exchanges, if something were to go insolvent, if something were to happen, if there's sort of a bankruptcy issue, those coins are probably going to be lost forever, or at least you're going to lose a portion of them forever. And if you do get anything back, it's going to be legal proceedings, and it's going to take you years. So the phrase, not your keys, not your cheese, or not your keys, not your crypto, has never been more important. And Cardano has some novel solutions that kind of can get around this. Personally, I'm actually no stranger to this. I've lost, essentially, 2 ETH to Celsius. I don't know when I'll get it back. I don't know what I'll get back. And I guarantee, it'll probably be a fraction of what I originally lent. And you know what? At this point, just give me 50%, just give me 75 % of my ETH back, and I would be happy. And this kind of leads you to the question, what is the point of staking rewards if you're just going to end up losing your crypto? I was trying to get I think around 10 % for my ETH, maybe lost forever. What can Cardano do? Cardano actually has tons of options. You could stake on hardware wallets like a Treasure or a Ledger. You can also self -custody on web wallets like Exodus, or you could use a Cardano -based wallet like Yori, or I'm going to go over NAMI today. NAMI was founded by the same person that founded Facebuds. Facebuds was the first 10K PFP on Cardano. This guy has been building for years and years and years. I've been a big fan of his wallet. Today, we're going to be using Chrome. And, folks, you got to be very careful with Chrome extensions. So we're going to use the link from NAMI's actual wallet. I got the NAMI link from Barry's link. Barry apparently named NAMI after NAMI from One Piece. I don't know. That's for the anime fans out there. I'm not so much a fan of that, but I know this is Barry. I've been following this for years and years and years. So I'm going to use the link for the NAMI wallet here. And I'm going to use the link in the NAMI Wallet X account. That takes me to namiwallet .io. And then I feel comfortable going to the Chrome store. I typed it in into the Chrome store. There is only one. There doesn't seem to be any counterfeit apps. Guys, you always got to be careful. There could always be a fake, a phishing site. You just got to be very, very careful. Double -check your URLs. I'll lead you to the NAMI Web Store extension here. I've already have it downloaded. It looks over 200 ,000 users, about 169 rankings. So if you were to Google it and you pull it up, it only has 1 ,000 users. You know it's not the real one. So let's go ahead and go over NAMI now. After you download it, you can either create a new wallet, in which it'll give you your seed phrase, be very careful when you write it down, and then be very careful when you're storing this. Or you can go ahead and upload one of your own wallets. I already have a wallet on here. And we are already staking the Berry pool right here. You can also use this Cardano wallet to hook up to a DeFi application like a menswap. And if we go ahead and click here where it says Berry, now Berry is the staking pool. This is what I have an available reward. So I am staking my Cardano. I haven't claimed it for months. So my 562 has earned me 10 .7 Cardano. But say I want to restake the 10, I would go ahead and withdraw. So we're going to do that now. Okay, you can see the 10 .7 has hit. I now have 573 from 562. And now that is automatically going to be restaked. And then now my next reward should be slightly higher from 560 to 570. You know, maybe I get an extra, you know, 120th of a Cardano now. And the way staking rewards works, it's a little bit like a lottery system. There's a lot of different Cardano staking pool operators, all those SPOs. These SPOs all have a, you know, a random chance to be assigned some staking rewards. You might get lucky and get your staking rewards up to 6 % for an epoch. An epoch is what the Cardano uses for its basis of time for the issuing rewards. So you might get lucky, get 56 % for that epoch, or you might get unlucky, only get 1%. If you have 100 Cardano at the end of the year, expect about 3 .3 extra Cardano after 12 months. If you ever want to change who you're staking to, you can see right here, it says Barry, we're going to switch it to someone in -house. That's right. We have BJ. BJ stakes as well. He has the NES pool. We're going to go ahead and unstake here. And you'll see that I'll give you plenty of warnings here. You'll no longer receive rewards. Rewards from the two previous epoch will be lost. Full balance will be withdrawn. And then the two ADA deposit will be refunded. You have to re -register and wait 20 days to receive rewards again, okay? So I'm going to go ahead. I'm going to lose out on a month's worth of rewards basically for you so we can walk through this process. Alright, let's go ahead and confirm here. So about 30 seconds later, the delegate button is now blank, and we're going to re -delegate to a new staking pool operator. So the NAMI wallet is automatically just going to put you to the Barry pool. So we need to go to pool .pm here. So when you go to pool .pm, you'll see the little NAMI button on the top right. We're going to go ahead and click that and just go ahead and leave us. We're going to give access to pool .pm. Pool .pm is give it as the Etherscan equivalent kind of of Cardano. And now you can see it is unstaked. And so let's find ourselves a new pool operator. Back to the main page by clicking the pool .pm tab here. And then you'll see on the right, it says staking. Go ahead and click on staking. And then you're going to hit search after hitting the staking tab here. And then after that, you will see the pools right there, folks. Me, I'm looking for BJ's NES pool. Type in NES. It looks like he has the only one. Now, if there were two, I'd have to talk to him and, you know, then, hey, make sure we have the right one. See how much aid is delegated. Then we would compare the numbers. He would say, oh yeah, I have 7 .9 million ADA delegated. And then one of them would have 7 .9 million. And the other one would have like 47 ADA. So after you type in NES, go ahead and click join right here. Sign your wallet transaction. And then you just got to wait for confirmation. Now we're going to have to wait a couple epochs before we start getting rewards. BJ doesn't even know I'm doing this, so I'll surprise him in person. I'm sure he'll have a good kick out of this. He's currently in Magic Las Vegas. So you'll just wait for confirmation. It might take a while. And after that, you'll start earning rewards. It is that simple. I'm not losing custody of my Cardano. My other Cardano is still in the other stake pool. So I don't have to worry about, you know, any kind of centralization or, you know, if one entity goes down, I'm not feeling bad about it. If they don't do the right thing with their software and all of a sudden, hey, I'm not getting any rewards. No one's getting any rewards. They're like, oh, I didn't do the update. You don't have to worry about that. I feel very, very comfortable in the Berry pool. If anyone is doing the updates, it is Berry Alessandro. That's all you got to do to stake your Cardano. You don't got to worry about Celsius going under. You don't got to worry about a Terra Luna style collapse. You don't got to worry about Sam Bankman stealing your Cardano and running off to the polycule. Hope you learned something as we discover some crypto today. Let me know where you stake in your Cardano. That's all you got to do to stake your Cardano. See, let's get a low mileage lease on the twenty twenty three Jeep Grand Cherokee four by four nineteen a month for twenty seven months with five thousand five ninety nine to assign tax title license extra. No security deposit required. Call one eight eight eight nine two five. Jeep for details requires dealer contribution and lease through Chrysler Capital. Extra charge for miles over twenty two thousand five hundred includes seven thousand five hundred EV cap cost reduction. Not all customers will qualify. Residency restrictions apply. Take delivery by ten to Jeep is a registered trademark. 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The Eric Metaxas Show
Fresh update on "75%" discussed on The Eric Metaxas Show
"Welcome back. I'm talking to Pastor John Amantukwu, who is in North Carolina, and John, you you're sharing some stuff that again, it's. Only the radical left, the Marxist left would would try somehow to make it sound like. These are reasonable things showing pornographic things to kids, most of us, especially parents, would get angry about this and would say, this is not only something I disagree with. This is like, you know, putting your hands on my child. This is as unacceptable as it gets. So what's your experience been when you go to talk to school boards or whatever? Because you have been outspoken on this. Why do you think there aren't more people like you aren't more parents just raising holy heck over this? I cannot imagine why people would be allowing this to go on. You know, many parents are in the dark. They don't know what's going on. Many parents oftentimes drop their kids off to school as if it's just simply daycare and the daycare is responsible for teaching and training the child void of the parents interest at mind. And so that's how the government schools run today. You know, it exists as if they own the kids, that the kids don't belong to the parents, but they they belong to the government. And so we're now on a slippery slope. One of the things that I'm hearing from parents as well as I address this issue and bring an awareness to it is, hey, I didn't know that is that is that illegal? Is that allowed? What can I do? How can I support you? And so within that, I'm now launching a national campaign with the Turning Point Faith and school board watch list to go to some of the wokest and bluest cities and states and the country to address these issues. We need to make sure that before parents cast their vote in 2024, that they simply know what they're voting for and the implications that will be hurled upon their kids. If you want your five year old son to engage with a transgender at school, there is a political party that pushes that with full support. We want to expose parents to this reality and make sure that they know what this political party is, what they stand for and what they truly are about. But there are many parents who just don't know or they just don't have the time to engage. And so we have to bring revival to our schools. I'm in North Carolina and 75 percent of the students in this state go to a public school. Now, my children have been blessed with the privilege, the privilege of going to a private Christian school, but being a youth pastor and ministering to youth at my at my church, I know that the majority of my students don't have that privilege at my church. And so I have to engage the culture where the battle is hottest. And I believe that the area where we are seeing the most, the most evil, the most sin, the most venom, it's within the public school system and what's going on in our government schools.
The Financial Guys
A highlight from Growing Unease: Current Administrations Approach to Security and Travel with David Bellavia
"What do you think they're doing with cash, right? What deal do you make where someone says, I'll bring a box of money to you? Yeah. What do you, it's, this is a state sponsor of terrorism. Ladies and gentlemen, distinguished guests and my fellow citizens. America's comeback now. starts right Welcome back Financial Guys podcast. Mike Speraza in studio live today with a guest in the studio. I haven't had this in a long time. Staff Sergeant medal of honor recipient David Bellavia joining me for about a half hour today. David, thank you for joining us. Thank you for having me. I appreciate it. Absolutely. So I'm going to stick based on your background. I'm going to stick with a lot of military stuff today and I want to start, we'll go all the way back to the beginning of the Joe Biden presidency. The Afghanistan withdrawal, in my opinion, did not go very smoothly. I'm sure many people listening agree. What were your overall thoughts of that withdrawal and how it actually ended up happening? I know we lost, you know, sadly lost 13 soldiers in that, in that withdrawal. People say we went off the wrong air base. People say that we shouldn't have gone out in the middle of the summer. There was a lot of different things there. What were your overall thoughts on that? I think it's like the worst day in American history since Market Garden. Just absolutely. And the reason why it was so difficult was it was totally unnecessary. So let's rewind to the Obama trade, Bull Bergdahl and the three first round draft picks. They get Marshall, they get MacArthur and they get Patton that end up the resurgence of the Taliban. These men not just go back to the enemy, they go back to the battlefield. They're in power when the government falls. You have misinformation coming from the White House that the president of Afghanistan is leaving with billions of dollars on his plane, which wasn't true. And then you leave the equipment, the cash. There's no recovery. We're getting reports of sales of American equipment left in Afghanistan in Southeast Asia. We're moving material across the globe. Our children will fight and pay and have to atone for these miscalculations. Let's talk about that. You being in the military and you knowing that area too, why did they just find it the easiest way out to just say, you know, just leave that billion dollar billions of dollars of equipment there and not think, again, if it was me and I'm speaking that someone that's never been in the military, but if it's me and I'm the president, I'm thinking, OK, I don't want to leave all our weaponry there. I don't want to lose any of my men. Number two. And number three, I want to make sure that everybody knows when and how we're getting out of there. And it just felt like poof. One day they said we're getting out of here. Well, it's because the military didn't make any of those decisions. I mean, look, Millie, it can criticize him. You can criticize Secretary of Defense worthy of criticism. However, none of these individuals are making decisions. This is about NGOs on the ground. This is about the State Department. So you've got Bagram Air Base, the equivalent of JFK. You've got Karzai International Airport, the equivalent of Teterboro. Right. Why would you ever do an exfil out of Karzai International Airport? It makes absolutely no sense. It's tactically unsound. But and then you've got all the ISIS -K. We retaliate from the murder of 13 of our bravest and we drop a bomb on a guy delivering water. He's on our payroll and we kill children on that. Then we take out Borat on a tuk tuk driving around like that wasn't even really what was happening. It's just a den of lies. And Tony Blinken and Jake Sullivan, all the heroes that brought us, you know, the Bergdahl deal, the Iran nuke deal. This is these. They the State Department is running all foreign policy, including what the DOD used to run. Well, that's I was going to say. I mean, I know Biden's the president, but do you blame him at all or is it everybody underneath him that, you know, maybe was giving him bad information? And again, some of these decisions, David, is Biden even involved in some of these decisions? Like, I don't even know anymore. Is he around? Is he paying attention to anything going on? Well, I mean, just from the press conferences, it was apparent he didn't know what was going on. And the great irony is that they actually were predicting that Ukraine was going to be invaded and, you know, no one believed them. So it's like you can't influence your friends. The allies don't trust you. The enemy doesn't respect you. You know, I mean, you've got Ben Rhodes is really proud of this State Department. Susan Rice loves what they're doing. But, you know, again, Americans died. And, you know, and what is the perfect culmination of the adventure in Afghanistan? Looking at your watch at Dover Air Base when bodies are coming home. I mean, nothing could you couldn't ask for a just it's it's a debacle. Yeah. And it's sad that that's that's the leader of our country there. Let's move in. You brought up the Ukraine there. So the Russia Ukraine conflict will get to Zelensky in a minute. He is as we speak in New York City right now. But so Trump's in office. We don't see many of these conflicts or any conflicts actually started under his watch. And then we have the Biden administration come in. And a year later, we have Russia invading Ukraine. Why did this happen and why? Why the timing of February of 2022? So let's go back to when we were fighting ISIS. Trump engaged and destroyed estimated some say 300 members of Wagner forces. But those were Russian nationals. We engaged. We destroyed them. What was the response from Putin? Nothing at all. So what do people in that section of the world, Eastern Europe, the Middle East, what do they respect? They respect power. They respect authority. You're not going to get any respect if you don't engage the enemy when they present themselves. I don't understand the calculus of again, I'm trying hard to figure it out. I don't get it. I don't. You know, Romania and Hungary and Poland, you're letting them unilaterally decide whether or not they want to send reinforcements into Ukraine. That's an act of war. If NATO members engage the enemy, all of NATO is engaged against the enemy. Poland doesn't unilaterally make that decision. Hungary and Romania don't unilaterally make that decision. We can't even articulate what the mission is. And if you look, go to the Institute for the Study of War, there's a plug for them. Check out their overlay from when the battle started, when the war started with Russia. And tell me what success this offensive in Ukraine has produced. I mean, let me ask this question, because I get confused. The answer is nothing. I asked this on Twitter, X, whatever it's called, all the time. What is the end game and how do we get there? Because all I see the answer is, hey, just blank checks. Hey, just write a check. Hey, here's a billion. Hey, here's 20 billion. Hey, here's another 10 billion. I don't actually see a look. I mean, like anything, right? If I write a business plan of what I want to do in 2024, my goal is X. I write down my steps to get X. I don't just write down X and say it's going to happen. I don't really know. And then the answer always is, well, we have to fight. We have to back Ukraine. Okay. But when does that end? Because the Afghanistan war and the war in Iraq lasted 20 years plus, right? And was there a real end to it? I don't know. That's where it gets frustrating for me, Dave, where I'm like, how do we know what the end game is? Do you win or lose? When does that happen? I don't know. I don't know. At least you're thinking about it. And I have fear that our leaders aren't, and that's the problem. So here's what this comes out. You're going to get a negotiated settlement out of Ukraine, right? But you talked about the billions of dollars that we're spending and giving to Ukraine as a blank check. First of all, Zelensky visited Ukrainian soldiers in the United States. Did you know that there were wounded Ukrainian soldiers in the United States? I did not know that. Well, today he visited them. So what's happening there? So that's a cost that no one is putting on the ledger. So now let's look at the blank check that Ukraine is getting. And by the way, I'm pro Ukraine. I want to fight communists all day and night. So let's punch Putin hard in the face. However, you're giving them a blank check and you're giving them munitions. Now here's the problem. We have to replace those munitions. Those munitions were purchased for 20 year global war and terror. And let's be honest, inflation is involved. So what you purchased for $10 is now $17. So you're not just giving them the money. You're giving them the equipment and the munitions that you have to replace yourself at the value of what is valued today. We haven't scratched the surface for the amount of money. CBO absent at the wheel. No one is tracking this. 2024 can't get here fast enough. How does this work, though, when you talk about some of these NATO nations coming together and making decisions, but us not just giving weaponry, giving everything money, whatever we're giving there? Is that not an act of war, too, though, David, at some point? We're continuing to fund Ukraine continuing the war in Ukraine. I mean, that to me seems like we're backing a war. Well, I mean, by the letter of the law and NATO charter, it's not. But here's the problem. It's schizophrenic because we were told that what was an offensive weapon was going to mitigate, you know, that wasn't going to help peace at all. So we went from, I don't know if they should get tracked vehicles to I'm not sure an artillery piece is what they need to high Mars rockets being launched. And let's be honest. I mean, the Ukrainians are I mean, the payload that they're going through, what you would have to have cataclysmic casualty numbers to be able to to the spandex that they're doing on the ground that they need to replace Patriot. If you're going through thirty five Patriot to, you know, missiles, I would expect to at least the C 20 makes that are shot down. They're using them for air artillery. They're using there for indirect fire. I don't know what they're doing, but this is going to end with Don Boss going to Russia. This is going to end with that land chain that Putin wanted through Crimea. And again, our friends in NATO, what are they even doing for Ukraine? What? Look, if you they said that Trump wanted to kill NATO, Biden did it. Right. Biden did it. And now Germany. And so Putin was selling oil at thirty dollars a barrel. What's it at ninety six? Yeah. He's making more money than he did before. And he's financing a war and killing innocent people. You mentioned before, too, and I think this is a good point. Everybody on the left and I'll say the media, the establishment, whoever you want to say, says that if you don't agree with the war in Ukraine, you're like pro Putin. Right. And that's just the most outrageous thing in the world, because I agree with you. I feel for the people of Ukraine. I don't want this for them. I don't want this for innocent people. However, at some point, the world's every every one of the world's problems can't be America's problem when we have a border crisis. And then I think they said yesterday ten thousand people came across. They got, I think, eight thousand of the ten thousand. But you see the numbers day over day. It's a problem. We have crime that's rampant. We have overdoses that are at record numbers. We have we have suicides at record numbers. At some point, we have to maybe just think about ourselves and not everybody else, because if we fall, sadly, I think the world falls at that point. Amen. The thing that I would add is I love the way the Ukraine refugee has been crowbarred into the migrant crisis in the United States. New York leaders from the city to all over Kathy Hochul, the governor of the state of New York, mentioning that, you know, like the Ukrainians in Poland, the the Polish have no intention to keep Ukrainians forever. That's a temporary you know, they're leaving a conflict to return to their country after the conflict is over. Again, this is just we're we're putting a round peg into a square hole and just hammering it away. But but there's no the media. There's you're our destroying military. I go to parents all the time around this country and ask them to give us their sons and daughters to join the military. And the one thing they bring up is Afghanistan. It's not about anything. It's Afghanistan. How are you going to assure us that you're going to maintain your commitment to our son and daughter when you betrayed us in Afghanistan that has lasting effects? And there's not a I'm trying to find a segment of our of our of our nation that's functioning. I don't know what it is. I saw in Chicago, they're going to have municipally owned grocery stores. Maybe that will figure it out there. Yeah, yeah, it's good. Real quick, do you think and we'll finish up on this topic, but do you think that they will we will ever have boots in the ground on Ukraine? I mean, I hope not, because I just don't know what the I mean, look at I'm I'm we're getting ready for China. We're trying to revolutionize everything. I don't know what the what the plan is. I mean, again, if you want to put a base in Ukraine, and you want to make that a sustainment operation going forward, that I here's the point. I don't understand what the inactive ready reserve call up was for. Why are you bringing those troops in the non combat support? Why are they going to Ukraine? What are you building infrastructure there? Here's what I do know. We're talking a minimum of $11 trillion to build Ukraine back. That is cataclysmic amounts of money. There isn't water, electricity, internet, you know, you want to help Ukraine. You're going to Russia is not paying for that if you negotiate a settlement. So I don't know what the plan is. But I hope we never see boots on the ground. I could guess what the plan is. I won't I won't say for sure. But I could guess that we'll be paying a chunk of that. And I do have one last one. So I did interview Colonel Douglas McGregor a few months back. And he talked about he's a real optimist. But he is really very, very bullish on Ukraine. Yes, very, very optimistic. I'm dropping some all over the place. But he brought up some staggering numbers, though. And even if they're half true, it's a problem. The amount of casualties and wounded soldiers on the Ukrainian side that we're not hearing about the media. I don't know if you agree with some of those numbers or not. But he's saying, I mean, it's people are acting as if this is an even war right now. And it's not even close. First of all, McGregor's a stud. I mean, he's an absolute, you know, that we're glad he's on our side. He's a military mind. I don't know if those numbers are accurate. I could tell you they're juxtaposed to almost everything we're hearing from every institution that we have, including a lot of our intel from Germany and England. But again, I don't know what to believe. So when you don't have when you don't have transparency, when you're not holding regular press conferences, when your Pentagon spokesman is now working in the White House and now you're getting a triple spin. I mean, the U .S. Open double backspin. You've gotten so many spins on the narrative. I don't know what to believe. But if he is even close to what is a segment of truth, you know, then look, Ukraine needs an investigation. There's a lot of investigations. We've got to start on Afghanistan. We were promised that by Speaker McCarthy. We need a hot wash on Afghanistan. And then we need to go to what who is oversighting the money that's going to Ukraine. And what have we got for our return on investment? Yeah, I'm not asking for much. Really, all I'm asking for in this conflict is can we just talk about what the end game is? And to your point, can we get an accounting of where the money's going and what's being spent in a real accounting of it? The Iran deal that just happened last week. First off, the fact that that was negotiated and completed on 11th September to me is just the ultimate slap in the face. But you again, you know more about this than I do. We do a five for five trade. OK, I'm going to use sports analogies. We trade five for five. And then we also approved of six billion dollars that apparently wasn't ours, but it was in a fund that now they can release to Iran. How are we winning on that one? Well, first of all, I was hoping that at least it was a digital transfer. The fact that it went as euros in cash through Qatar. And OK, so what happens the 24 hours after that deal is made? We're now getting issues in the West Bank. We're now hearing about issues in Yemen. We've now got Hezbollah that's reinforced. I mean, look, what do you think they're doing with cash? Right. What deal do you make where someone says, I'll bring a box of money to you? What do you it's this is a state sponsor of terrorism. They haven't changed. By the way, their president is now in New York City addressing the United Nations. This guy's killed 6500 of his own people. He admits to it. He killed the students that revolted and wanted democracy when we did nothing. He killed 5000 of his citizens in 1988. He's killed over 300 Americans. There's no accountability whatsoever. I don't understand what it is about Jake Sullivan and Tony Blinken that believe that Iran is a partner. All you've done 10 years ago, they were refining 10 percent of their oil. And now they're a force. Now they're working with Maduro in Venezuela, and they're a huge part of their members of of the international community. They're in good standing there. I don't get it. Does anyone believe that the Iran nuke deal? Look, we got hit with cruise missiles under Trump in Iraq. How did they have those cruise missiles? Those cruise missiles were illegal under the Obama nuke deal. So how are you refurbishing missiles in two years? Do we believe that their centrifuges have stopped? That they won't have a program if they don't have one already? No, I mean, I guess my question, David, is how I mean, I know that you pay a lot of attention to this stuff, but how do people like in the media not ask these questions? Right. I mean, these are legitimate. I mean, we just traded to I put this on my notes here. This is on the heels of trading a WNBA basketball player for the Merchant of Death like six months ago. Right. I mean, and again, I'm glad Americans are coming back to America. I don't want to sound pessimistic on that. That's great news. But we also I mean, this this stuff just seems like I don't care what side of the aisle you're on. It warrants questions, but nobody seems to care. I'm in the world that if you take hostages, we take hostages. You want to exchange people? We'll exchange people. You know, we definitely have the partners in the area to do that. For whatever reason, this administration, they're they're they're contrarians. They're contrarians to you know, they claim Bush and Cheney are their best friends, yet they just go 180 degrees from that doctrine. I don't know what the Biden doctrine is. I don't know what Bidenonomics is either, but I could tell you that they believe that Iran is a partner. Now, here's another thing. Our envoy to Iran not only is no longer the envoy, he doesn't have a security clearance. Does anyone curious at The New York Times as to what happened to the lead negotiator in Iran that is escorted off a bus, taken into American custody, given a job at Yale or Princeton or wherever he's working now? I've never heard of a person going from top secret classified negotiations to no clearance whatsoever and in the custody of American intelligence community. No one cares. No one cares at all. It's fascinating. And again, for me, I mean, these are big decisions that we're making. And correct me if I'm wrong, but it used to be, you know, maybe we did a two for five deal and then we made the six billion. Now we're like, we're giving stuff away and we're on the losing end. Correct me if I'm wrong, but America was never, you know, America losing. It was always America winning, right? America getting the best of deals. At least McDonald's has a five for five. We didn't even get that. You know what this does though? Honest to God, if you're thinking about traveling overseas, things go sideways, cartel, South America, Mexico, wherever you're going, you have a price in your head now. No one in their right mind is going to bring you back whether it's Haiti or wherever you are, you're worth $1 .25 billion. And thugs and scumbags are going to take advantage of that. I mean, that's a great point too. Do you think about leaving the country? I don't know anymore. That's a little bit concerning. I don't care where you're going, right? That's concerning. This one I just had to bring up because it happened two days ago or yesterday. How do we lose a plane? And I heard that's like a third one in the last six weeks that something like this has happened. How are we losing $80 million planes? Well, they're not $80 million anymore because they've got a new engine and all this other stuff. Look, the F -35 program is a complete disaster. You want to talk about why our allies think we're crazy. We sold them a plane. This program has been around since the early 90s and we've got nothing on return for it. So basically two planes are flying in a buddy team. They're doing training and a guy punches out. We don't even know why he punched out, but that plane could have easily hit a building. It didn't, thank God. But the wingman didn't follow where his buddy went. So what is he doing? He just kind of went on and did his own thing. And now the Marine Corps put a Facebook post like a dog is missing. We're expecting the Ukrainian farmers to carry the F -35 out with their tractors. I don't know what the point of it's wild. Look, stop embarrassing us. Just stop humiliating us. That's all I'm asking. Just be the army and the Marine Corps that we know our men and women are capable of being. Get out of their way. This gender garbage, this social experiment nonsense, stop humiliating our military. That's all I ask. Why can we not get the... I mean, I know why we can't get the answer, but I'm asking this to you. But why can't we, at a press conference at the White House, why can't we say, I want to talk to the guy that was in the other plane, or you can tell us the transcript of what happened when that happened. Talk to the guy who jumped out of the plane. Why did you do that? And again, I'm not trying to put our military on the spot, but these are kind of big questions to ask, right? I mean, if I do something in my business, I have to go face the music on that. Why doesn't everybody have to face music for their decisions or why things are happening? I think it's kind of important. Well, you don't want to talk to generals because they're going to tell you the truth and they won't be generals anymore. True. And you don't want to talk to enlisted people. Because look, I mean, let's be honest. How many people are... Is this a merit -based military anymore? Do we have a meritocracy? Are we promoting people based on pronouns? Go figure. When we're putting politics above military strength, accidents happen. We don't know the facts, but the fact that nobody cares about getting to the bottom of it, the day of the Pentagon paper reporters are gone. Yep. Yep. Let's just talk about the 2024 race quick, and then we will wrap up for today. So your thoughts on the Republican primary so far, I'll stay away from the Democratic side till the very end, but your thoughts on, you know, there's obviously Trump who is now in a, has a huge lead. Ron DeSantis seems to be crumbling underneath himself. Vivek Ramaswamy has jumped up in the polls. Nikki Haley's there. Tim Scott's there. A few others that probably aren't going to get a lot of votes. Chris Christie's the anti -Trump candidate. Mike Pence is, I don't know what Mike Pence is. I'm not really sure. Your thoughts about the whole field so far? I mean, look, it's impressive. They've got a deep bench. There's a lot of diversity. I, you know, none of it matters. Trump is the guy. The more you indict him, the more you empower him. You know, I'd like him to work on his communications a little bit better. You know, but if Trump is Trump, Trump is a Frankenstein monster of Barack Obama. As long as you have that faction, you're going to get, you know, Trump is going to be empowered. I just don't want to see Governor Noem anywhere near the White House. And I, if he's going to pick a running mate, you know, it's hard to find an ally here, you know. But it would be nice to find a governor. I don't want to take anyone from the Senate. I don't want to take anyone from the House with the margins that tight. But I mean, the idea that Governor Noem is being floated right now. I mean, I'd rather take North Dakota. Yeah. A little sled there. You know, it's funny you mentioned that because I saw a lot of that this weekend. I mean, can we just, for lack of a better term, keep it in our pants for about a year and then do what you got to do? It really is. I mean, every time you turn, somebody's doing something idiotic, whether it's Boebert. And again, I say this, David, a lot of people know who you are. A lot more know who you are than they'll ever know who I am. But when you go out in public into a movie theater like that, and I'm going to Boebert, not Noem for a second, you're, you're extremely well known. I don't care if it's dark or if it's as light as it is in the studio right now. What are you thinking? I, you know, she's, she's, she's an embarrassment. She is. She's bad, too. Who would have thought that Marjorie Taylor Greene would have been the, the oasis of the Maryland? I mean, seriously, I, again, you're, you're in Congress every day. You're out in public, you're on the job. You know, at least she wasn't wearing a hoodie, you know, that's all in shorts. She was at least dressed for the occasion, but I, it was, it's wildly embarrassing. Vaping, singing, whatever you're doing. Getting groped. Yes. Who is your VP candidate then? Because I think, you know, you have names thrown around. There's, there's, the vague has been thrown around in there. You know, Byron Donald's has been thrown around in there. Carrie Lake has. I don't know. I love Carrie Lake. I just don't know that Trump needs to go with somebody so divisive there. I think he's got to go with somebody that's, that's firm in their beliefs, but also not maybe going to turn off half the country. Well, you know, it's, it's impossible. One of the, one of the problems with making Trump, you know, the, the enemy of the state that the left has done is that you've really made it difficult for him to even put a cabinet together. You know, I mean, what are you going to do with it? You've got a lot of loyalists out there. You know, the vague is, is I think maybe the most intelligent dynamic candidate we've ever seen run for president, but experience does matter. But you know, I love the way he thinks. I love the movement. I don't know if he would even take the job to be honest with it. I don't think he needs it. But you look at a Tim Scott, I think Tim Scott is, you know, there's a whole lot to his message and I think he's, he's got the experience in the Senate, but honestly, you could literally take the Clint Eastwood chair and, and throw it in there as vice president. I'm going with that because this, this from top to bottom, we have to have seismic change in 24. Do you think he would ever choose Kristi Noem at this point with all that now? Yeah, no one knew Mike Pence was a, was a 24 hour story and then he was the vice president candidate. So who knows? I mean, a lot can happen between now and then, but I just, I don't need, you know, let's just pick people on their merit. Let's pick people that are ready to be the president. Imagine this, imagine picking a vice president that can lead the country. If something happens to a 75 year old president, you know, like Kamala Harris. Yeah. Someone like that.
The Dan Bongino Show
Fresh "75%" from The Dan Bongino Show
"Deserve a fair share of the value their labor helped create. Karen versus ABC News the White House. Some changes started this morning on the inbound Kennedy expressway for inbound ramps will be shut down for construction the entrance ramp from Pulaski Avenue is expected to reopen in two weeks the entrance ramps from Montrose and Kedzie Avenue as well as the exit ramp from the inbound Kennedy to Fullerton will not reopen until late October now good news for Kennedy drivers inbound ramps at diversity Kimball and Irving Park are set to reopen in days a few and as we take a look at travel times are right now at 104 the inbound Kennedy is 40 minutes from O 'Hare to downtown you're 28 minutes in from Montrose 35 going back out to O O 'Hare inbound Eisenhower up 390 to the old post office just 29 minutes inbound Stevenson I -355 DeSaba to Lakeshore Drive 32 minutes no delays on the Dan Ryan and into northwest Indiana we have an accident blocking the right lane on I -65 75 going northbound just after 217th Avenue got solid traffic between there and the Newton Jasper County line a 17 minute delay next traffic update in about 15 minutes I'm I am Kyle at Blindster .com and I sell custom blinds designed for do -it yourselfers unlike stock blinds offered at big box retailers Blindster blinds are custom made for your
Simply Bitcoin
A highlight from Robert Kiyosaki: Buy Bitcoin NOW, Before Market Crash | EP 828
"Yo, welcome to Simply Bitcoin Live, we're your number one source for the peaceful Bitcoin revolution, we cover breaking news, culture, and medic warfare, we will be your guide through the separation of money and state. Robert Kiyosaki, he is the author of Rich Dad Poor Dad, it was one of the most influential books that I read in my professional career, in fact it was one of the first books that I read in my late teens, early 20s, I dropped out of college so I took the non -normal path, the path where my parents are like, you're never going to make anything of yourself, and that book was a big inspiration for me, it motivated me and it really kind of changed on my mindset what is money, what is entrepreneurship, what is wealth, so I highly recommend that book if you haven't read it, and the reason I'm talking about this individual today is because he's pretty base, he likes Bitcoin, he likes Bitcoin a lot, and he tweeted something, something actually that he's been tweeting for quite a while, and essentially what he's saying is, you better get yourself some gold, you better get yourself some silver, obviously I don't agree with the gold and the silver, it's not that gold in itself is bad, I just think that the gold market is captured because of gold centralization, because of its physical characteristics it leads to a lot of people cussing their gold, and I think that inevitably leads to rehypothecation, that inevitably leads to manipulation. So, yeah, I think Bitcoin is the insurance, but most importantly, if this news was just on itself, you would say, Niko, this is a bunch of noise, what does it matter if another person is saying to buy Bitcoin? Well you guys know the deal, what we do here at Simply Bitcoin, connect the dots, remember all the people that are saying, buy Bitcoin, the other day I think it was yesterday's episode, you had Jordan Peterson, so you have another influencer, you have another person who has a huge following, who's the author of a very, very famous book, Rich Dad Poor Dad, it's a very influential book, also saying the quiet part out loud, buy Bitcoin as insurance, get on the life raft, so that is awesome, we're gonna talk about that today, and also in the European Union, European Union passed DAC8, and essentially what that would do is it would force crypto service providers to report all transaction information on EU clients, which is something very, very similar to the Elizabeth Warren bill that we covered on yesterday's episode, so yeah, we covered Jordan Peterson on Monday, we covered the Elizabeth Warren stuff yesterday, so you could see where all these countries, the direction that all these countries are heading, as the separation of money and state accelerates, and the nation state tries to maintain that privilege, the privilege, the control of money, the monopoly over money, but I don't think you can stop an idea whose time has come, so they're gonna have a very, very hard time stopping that, I'm very excited for today's show, it's Wednesday, we're halfway through the week, it's time to bring up my legendary co -host, who is literally smiling and laughing, this is Ati all the time, how you doing brother, what's up? I'm doing great, I'm just laughing at you, because like hey, you know, I was joking before the show, I was like okay, let's just get the show done, and you're like, I live for this stuff, this is what I do, and it still works, but we love to do this man, and yeah, to your point, you know, I remember reading Robert Kiyosaki's Rich Dad Poor Dad, my early days right before I found Bitcoin, and it was definitely one of those defining books in my life that, you know, I think I've come a long way since then, but it was one of those books that definitely got me reading, or at least thinking about money correctly, anyways, on that point, last week we had a kneel on, and someone asked, what are some of the Bitcoin fundamentals, and so I went on my Noster yesterday, and I asked people what they thought are some Bitcoin fundamentals, and shout out to Darth Coin, our simply Bitcoin Telegram group moderator, and he gave me one of his articles, so I'm gonna use that as a jump off point, so hopefully some new people that are in the chat, I saw someone say they just got their first, you know, their first Bitcoin, they just started stacking, so you know, we're new people in the Simply Bitcoin YouTube that maybe aren't as familiar with everything that we know, we're trying to get them on board, you know, I know you guys, I can hear you guys saying, you know, Opti repeats himself so much, but hey, we're trying to get everyone on the same page, not everyone understands as much as you do, and as I jokingly say all the time, I think I've forgotten more about Bitcoin than I remember, but all you need to remember is, stack sad, stay humble, stay solvent, take your Bitcoin off the exchange, keep it simple guys, so we're gonna kind of get back to some fundamentals, give you guys some, as Darth Coin says, some Bitcoin commandments, and we'll kind of have a little chat about that, I'd like to get, or pick Niko's brain about what he thinks are some of the fundamentals as well, so we got a good show, I think actually it's gonna be a fitting show with the Robert Kiyosaki news as well. Robert Kiyosaki man, it's absolute legend, love, love his work, love the book that he wrote, also guys if you're enjoying the show, help us break 100 likes within the first hour, I think yesterday, or the day before, we broke 200 likes, so if you're watching the live stream right now on Rumble, YouTube, Twitter, make sure to smash that like button, also join Simply Bitcoin's Telegram group, it's absolutely free, we're almost, we're about to hit a thousand people in there, so just go to t .me slash simply Bitcoin TV, join it, it's a party, you can tag Opti there with some memes and he'll feature them on the show. Alright everybody, no more delay, let's jump straight into the numbers, we got a lot to talk about today, let's check it out. The Bitcoin Numbers Is your Bitcoin and cold storage really secure? Is your seed phrase really secure? Stamped Seeds Do It Yourself Kit has everything you need to hammer your seed words into commercial grade titanium plates, instead of just writing them on paper, don't store your generational wealth on paper, paper is prone to water damage, fire damage, you wanna put your generational wealth on one of the strongest metals on planet earth, titanium. Your words are actually stamped into this metal plate with this hammer, and these letter stamps, and once your words are in, they aren't going anywhere, no risk of the plate breaking apart and pieces falling everywhere. Titanium stamped seeds will survive nearly triple the heat produced by a house fire, they're also crush proof, waterproof, non -corrosive, and time proof, all things that paper is not, allowing you to huddle your Bitcoin with peace of mind for the long haul. Stamp your seed on stamp seed. Alright guys, I literally made it easy for you guys, scan the QR code on your screen with your phone, it will take you directly to the stamp seed website, you can use promo code simply to get 15 % off anything on the stamp seed website, store your generational wealth on fucking titanium bro, titanium. Anyways, the Bitcoin price at the recording is 27 ,155, sats per dollar, 3 ,683, block height 808 ,601, blocks to halving 31 ,399, halving estimate April 21st, 2024, total lightning network capacity 4 ,829 Bitcoin, capacity value 131 million US dollars, realized monetary inflation rate, inflation 1 .75%, continuing to take fiat currencies to absolute school, market capitalization, 529 billion dollars with a B, Bitcoin versus gold market cap 4 .09%. In the grand scheme of things, Bitcoin is still a tiny little baby. Anyways, something to point out, something very interesting, which is the Bitcoin versus gold market cap. That will continue to go up if Bitcoin reaches the gold market cap, that is 500 million dollars sorry yes, 500 ,000 dollars per Bitcoin, rough estimate. So and we all know that Bitcoin is better than gold because of its physical characteristics. Again I know a lot of people that like gold in the chat and I appreciate you all and I'm a fan of gold too, gold bar like physical gold I'm a big fan of but problem is that most people don't like they don't they don't buy physical gold, they buy paper gold. That's the issue right? With Bitcoin you know it allows you to take self custody of your Bitcoin extremely easy, you know you don't have you don't have to wait for it to get physically mailed to you. If you go to El Salvador where Bitcoin is legal tender and you go to a McDonald's you know you could pay with your Bitcoin because Bitcoin has a bunch of decimal places you know it's divisible it's goes through the internet if you use lightning network it's instantaneous you know the main chain writes roughly 10 minutes settlement but you'll still see the transaction immediately.
Bloomberg Markets
Fresh update on "75%" discussed on Bloomberg Markets
"Of course it is. But now you just mentioned a motorcycle? I've got a new Indian coming. Where are you putting all this stuff? Well, this is the thing. I need to build an addition to the house. I just broached the subject with my wife over the weekend. How'd go? that In addition to the garage. Yes, I need to build a couple more garages, frankly. I should point out in the suburbs, especially Westchester County, Paul, uses nobody a garage to house their cars, their vehicles, all the extra stuff. We have this, so it always annoys my wife that people come in the back door. She wants them to go around the front, but there's no way the way our house is set up. So I told her, listen, if we can block the back door with an extra garage, then they'll have no choice. All we right, so got the Dodge Challenger with the Scat Pack wide body thing coming. We got an Indian Motors, I don't know what else. So John Tucker and I will stand on top of it right now. Indian Chief. Indian Chief, of course. Why not? Right now, let's head down to Washington, D .C. Amy Marsh has got World of National News. All right, thank you, Paul. We're closely following the developments on Capitol Hill with a potential government shutdown by the end of this week. House Speaker Kevin McCarthy has been trying to rally the hardline members of his own party to pass a stopgap spending measure, but he's still facing pushback. And Greg Valle is chief U .S. policy strategist at AGF Investments. It's probably about 75 percent that we will get a shutdown this weekend. Kevin McCarthy can be shrewd sometimes and he might be able to come up with a last -minute extension of a month or so, but I doubt it. I don't think he has the votes and I do think there will be a shutdown. Greg Valle at AGF Investments and the federal government's current funding is set to run out this Saturday. A shutdown would also come one day before drug makers selected for Medicare pricing negotiations are supposed to provide the agency with data required as part of the program and likely throwing off the timeline for the program. There's been a surge of undocumented migrants crossing the southern U .S. border, thousands each day. Texas Republican Congressman Tony Gonzalez says it's time for Congress to take action. The House should immediately take up the Homeland bill. appropriations Republicans can't just be the party of rhetoric. We have to be the party of solutions. He tells CBS's face the nation he wants to get a bill on the House floor speeding up the work visa process. Maui residents are being allowed back to their properties in Lahaina nearly seven weeks after their neighborhood was mostly destroyed by a wildfire. A lot of us have not actually been able to come back To see someone go in an unexpected way, it kind of hurts. At least 97 people died in that fire. Global news 24 hours a day powered by more than 2 ,700 journalists and analysts in more than 120 countries. This is Bloomberg. With ForgeFX's virtual training program, Zoe Hoecker can practice welding anytime, anywhere through the Tulsa Welding School. As a result, he's able to up level his skills and advance his career as a contractor. Learn more at meta .com slash metaverse impact. When you get your news from Bloomberg, you don't just get the story, you get the story behind the story. How your EV's battery may not be as green as it seems. Why a decrease in global birth rates could send countries scrambling to increase immigration. You get context. Context changes how you see things, how you change things, because context changes everything. Go
The Café Bitcoin Podcast
A highlight from "Cryptosovereignty" with Erik Cason - September 20th, 2023
"Hello, and welcome to the Cafe Bitcoin Podcast brought to you by Swan Bitcoin, the best way to buy and learn about Bitcoin. I'm your host, Alex Danson, and we're excited to announce that we're bringing the Cafe Bitcoin Conversations Twitter Spaces to you on this show, the Cafe Bitcoin Podcast, Monday through Friday every week. Join us as we speak to guests like Michael Saylor, Len Alden, Corey Clifston, Greg Foss, Tomer Strohle, and many others in the Bitcoin space. Also, be sure to hit that subscribe button. Make sure you get notifications when we launch a new episode. You can join us live on Twitter Spaces Monday through Friday, starting at 7 a .m. Pacific and 10 a .m. Eastern every morning to become part of the conversation yourself. Thanks again. We look forward to bringing you the best Bitcoin content daily here on the Cafe Bitcoin Podcast. All right. All right. Good morning to all of you Cafe Bitcoiners. Good morning, Peter. Good morning, Ant, Dombey, Jacob, Wade, everybody else in the audience, all the loyal listeners. If you're new, we play that song at the beginning of every show. I highly encourage you to go look up the words and read the words to that song. It's mind blowing. Welcome back, Ant. Thank you. Thank you. I see you guys held it down. Yeah, we were all sad. We missed you. Oh, I'm really sure. I had to explain you to my sisters yesterday, Ant. Oh, I'm sure that went well. You were the technical guy, that's the other technical guy who does other technical things and has other technical knowledge. All the technicals. We did have like the Wicked show yesterday, was it yesterday? I don't know. We had a moment where the scale was up, came up and she was like, I have a wicked question. And then that was KSD. It great. was All right. You're listening to Cafe Bitcoin. This is episode four hundred and thirty eight. Shout outs to our sponsors on Fountain Nosterness. Our mission for this show is to provide the signal in a sea of noise, teach the other seven billion people on this planet why there is hope because of this bright orange future that we call Bitcoin. Today, again, we're going to try and discuss near perfect energy arbitrage. I've been meaning to do that for three different episodes now. We never actually get to it because the content is so dang good. The questions are good. The discussions are good. Hopefully we get that today. There's also a bunch of nonsense that the lizards are up to that I think needs to be highlighted. We shine lights on lizards and lizards doing lizard things. And it's I hope it helps you guys. Peter. Speaking of lizards, my banking saga continued. So, you know, yesterday I was talking about having trouble transferring money in my account being frozen, et cetera, et cetera. I thought, well, I'll just go into the bank, get out cash, and then I'll go make the deposit into my friend's account. Right. So I put my tweet up in the nest. I'm just going to it's real quick. I'm just going to read it. I said friend needed financial support, went to their bank with cash to deposit. Teller, we don't take cash. Me, what? Teller, sorry. Me, manager? Manager, we don't take cash. Random patron looks at me and mouths, what the fuck? Me, thank God. I literally said this. I said, thank God for Bitcoin. I walked out of the place. My friend, thanks for the BTC. You said that in a bank, Peter. What? You said that in a bank, Peter? Yeah. You're on the list. Hell yeah. You're on the list. That's like saying bomb on a plane. I looked at this lady, this manager, I looked at her. I was like, what the fuck is cash for? She goes, well, you can go buy stuff. I said, you're a bank. You don't take cash? No, thank God for Bitcoin. I fucking walked out. I couldn't believe it. You're all on a list. Every single one of you. It's OK, Peter. I got on the list a long time ago. I was on a phone call with my bank a long time ago and it was just like a lowly customer support person. And I was like new in Bitcoin, like brand new and like, you know, feeling it. And I was like, this is why y 'all are going down. You see, this is why Bitcoin is going to take you all out. So I'm sure I'm on the list as well. OK, later today, second half of the show, we've got Eric Kaysen joining us. Looking forward to that. That dude, he's one of my favorites. He's an extremely passionate Bitcoiner and deep thinker, in my opinion. He says some stuff that is I mean, there's a lot of edgy people in Bitcoin that are willing to say and call out lizard nonsense. Eric pulls no punches, man. This dude, when he's laying it down, I'm like looking around the room thinking, are any of these guys that are in here fed? Because he's definitely on the list. And so is everybody in this room. Oh, I'm sure we've had feds in this room for a long time now. Yeah, probably. I mean, these are all recorded, right? So, yeah, I guess they let it back. Yep, yep, pretty much. Good morning. They won't get the emojis, though. Yeah, screw them. I wish these guys would do something illegal. Mike Hobart, good morning. Mickey Koss, good morning. Terrence Yang, good morning. Oh, by the way, congratulations, Terrence. Terrence was on Bloomberg again. Dang. Thank you. Thank you. He's a regular now. Whenever they want to know something about Bitcoin, they call Terrence Yang. Your star's rising, Terrence. And Terrence is like, oh my God. And Terrence is like, hang on one second. I got to hang on one second. I got to park this dim sum cart so I can go get into a nice background place and do my interview with you guys. Exactly. Exactly, due to my crappy or just something's not great with faces for my audio, so it doesn't do noise suppression. So but it's motivating me to take a walk. So instead of you guys listening to the piano music from the hotel again. As long as you don't walk into that ballet center again, Terrence. I think that was Beetlejuice. I did not record. Terrence, if you don't mind me asking, since I didn't see the Bloomberg appearance, what did they ask you about? Did they ask you about any of your opinions on the Binance situation or is it just strictly Bitcoin and price? A little bit Binance. It was price, not as much price this time. I think I'm not sure why, but it was more about ETF kind of timing. And we got into spot versus futures of the SEC loss badly against Grayscale. So actual signal then, that's good. Allegedly, yeah. No, they ask good questions. That's good questions. And then talked about some tax stuff, stuff like that. Terrence, you were telling them how it's going to go down this year. That's interesting. How did they react to that? I did point out that 75 % of quote unquote experts surveyed said that Bitcoin ETF will be approved by year end, which I don't agree with. Yeah. Who are these experts? Are they the writers that coined it? These crypto people, right, because sometimes our stars do align a little bit with the crypto people short term. So their PR machine is formidable. So I think they just go around and random crypto experts opine on Bitcoin ETF timing based on their chat TBT law degrees or whatever. Here's a big wrench, Terrence, and you have a law degree, so you can tell me if this is possible. This may throw a wrench into the some of the bets on the side chains. What is it possible for the SEC to approve Grayscale, but with a go live date that's next year or far out or some kind of ambiguous, like, yeah, it's approved conditionally with this. And then people, well, it wasn't approved. It was approved. That I don't know, but typically they just kind of approve, delay or deny. And then when they approve, you just have to do all the paperwork. It's like they're always approved with conditions. Everything the government does or lawyers do. And now you're talking about government lawyers. So every approval is like if you meet the, you know, registration requirements, blah, blah, blah, you can do it. Go ahead and file the paperwork and, you know, give us comfort that you're compliant. Yeah, but they can attach conditions like, OK, so you're saying you're doing the surveillance sharing agreement. We are only doing this if that actually gets signed is, you know, not clear that that signed it, blah, blah, blah. They might add some details. I think that's possible. I don't actually know that much about ETF approvals, but that should be how it goes. It's kind of based on all the other stuff that government regulators tend to do. Yeah, because that's that's my new thing is, is this is backed by no for the listeners, no legal knowledge whatsoever, zero. But if they can find a way to approve Grayskills, put a timing on it that somehow screws them and lets BlackRock, whoever's first in line for the ETF, go live first. That's what I see them do. Yeah, that's possible. I feel like they're not that explicit. Like, OK, so a couple of things. One, if you're a Gensler, political animal, Bitcoiner, allegedly, you would probably want to do what? Delay approval just because, you know, hurts to lose three to zero in the D .C. In or batches dispersed would be one of the big four. It doesn't have to be BlackRock, right? Because the public perception, at least in some corners of the universe, they tend to think that BlackRock is super evil because they're so big, totally misunderstanding how asset managers work. But anyway, you might pick one of the big four, the new one being Franklin Templeton, 1 trillion .4 AUM, I think Invesco is like 1 .6, Fidelity and BlackRock are orders of magnitude. So one of those big four. Maybe do it in batches, politically you might do, I hate to say it, Cassie Wedge from ARK because she's a woman and she's very vocal.
The Crypto Overnighter
Fresh update on "75%" discussed on The Crypto Overnighter
"Feel the pop, feel the pop, feel the pop. Keeping what we're down, yeah, we end up on top. Make your head bob, head bob. Make your head bob when the base drops. New emergency crystals. No water needed. Just throw back the immune support with a pop. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease. Feel the pop. The Terra Classic community voted to cease all minting and re-minting of Terra Classic USD, also known as USTC. This is the same algorithmic stablecoin that was at the heart of Terra's jaw-dropping $45 billion collapse. The Terra Classic community voted with a 59% approval to halt the minting mechanism. This move aims to protect not just the community, but also outside investors who've been burning USTC in hopes of achieving a re-peg to the US dollar. The current value of USTC, a measly 1.2 cents apiece. Terra used to allow users to swap between UST and Luna freely, but when UST de-pegged, the mechanism failed spectacularly. Trillions of Luna tokens were minted and the price of UST plummeted below one cent. The community now aims to burn those trillions of tokens to help USTC regain its original $1 pay. So far, they've only managed to burn 75 billion tokens, which is around 1% of the nearly 6 trillion circulating tokens. After the collapse, Terraform Labs launched Terra 2.0, while the Terra Classic community stood by the original blockchain. The decision to halt USTC minting is a clear divergence from the new version, making it a pivotal moment for the community and the crypto world at large. The proposal also opened stores for major crypto exchanges like Binance to start burning USTC. Why? Because the minting and re-minting are over. This is a crucial step for the community's goal to reestablish a stable peg between USTC and the US dollar. The Terra Classic community is taking a bold step to correct past mistakes and to safeguard its future. It's a move that reflects the community's distrust in the original mechanism and the desperate attempt to regain lost ground. As we watch this unfold, one thing is clear. The Terra Classic community is not going down without a fight. Don't forget to subscribe for more nightly insights. As Terra makes its stand, Fenwick & West finds itself embroiled in a class action lawsuit. Let's take a look.
THE EMBC NETWORK
A highlight from Private Capital Markets and Private Equity Simplified with CEO and Co-Founder of KoreChain and KoreConX Oscar Jofre
"So I want to be here where they're, you know, buying it in a dollar a share, not at a hundred. I wanted a dollar. So it's exciting. But with all the companies being created, yes, there are those who need capital, but it doesn't matter if you're a startup, you're already an operating company. It doesn't matter what stage you're in. Capital is a requirement in order to keep growing your business. Even if you're profitable, even if you're cashflow positive, in time to where you need to expand, you need access to capital. It'll make it much easier for you. You have more choices in how you structure the capital, but nevertheless, you need capital. You want to buy another company where you need capital because you can't take it from your existing cashflow, which is paying for the operations of your existing business, but you need it in order to acquire this to make you even bigger. So these are all the things. So capitalism is a constant element of the growth of your business, regardless of what size you're in. Sometimes we just don't know that we can do it. And now what I'm letting everybody know, you can, and it's not easy. I didn't say it was easy. It's not something that is a rocket. No, but if you have the right team to do it, you can. And most of it is done through technology. So therefore use the internet. We're a perfect example of that. When COVID hit us, we were a team of nine people in the company, nine. From then to where we are now, we're a team of 60. That's all because of COVID. So COVID, it depends on what business you're in. Why? Because everybody went online. When we're at home, online investing was on the rise and it has never gone down ever since. So it means that companies need to think of online. Oh, I see. So everything's on. Yes, you do the presentations online, just like I'm doing this show with you. I'm talking to millions of people online, simultaneously broadcasting my message. I'm doing a presentation to everyone on what we do and what the value proposition is and why you should believe in me and what I'm doing. So what we've done at Core Connects and Core Chain is provided in a technology infrastructure that a company can utilize in order for them to do things compliantly. So what does that word compliant mean? It means that you do it in such a way that one day you're not wearing an orange outfit, meaning you're not getting arrested. So the rules for me are black and white and orange, and orange is not a color I like. So black and white is the rules. So you follow the rules. And so we have enough of an ecosystem, meaning people who are committed for the growth to educate you, lawyers, auditors and so on that are going to provide you that guidance, how to use the regulation, how much money can you raise? What do you need to prepare for it? What documentation? We have so much education. Like if you go to our website, we have videos, we have checklists, everything. And even if you have a problem there, we'll even walk you through it. We'll get on a call with you to walk. Every single company is important, regardless of size, stage or anything. Why? Because everybody needs to know what is possible in front of you, not to think that, Oh my God, I didn't get venture capital. I'm dead. I'm done. I got to shut down. You should never have to do that. That's the whole point of the JOBS Act. It was to give you a choice in what, you know, I don't want to say the word alternatives, but it was just different choices in how you can raise capital for your company. So we provide that. We have an ecosystem of all these partners. We also took another undertaking as a company is that we knew how crooked business world is. And when I say crooked, I don't mean it in a way that everybody's like that, but I just mean it that I know what it's like being an entrepreneur. And I meet John and Hey, John, look at my company. I love your company, Oscar. I think you're great. I've got some investors that I want to introduce you to. Oh, that's fantastic. Thank you. I really appreciate it. And then next thing you know, he's got his hand out like, uh, how can I help you? And he goes, well, I'll give you the lead. How much are you going to pay me? And this has been this problem that the whole industry has had is that there's always someone standing in the middle. And so it's standing in the middle or in the way of me getting to there and I want to get there. So I pay them and you know, to get there and not, not knowing that what I just did was illegal because the only people that can be paid are a broken dealer. But nevertheless, you, whether it's a consulting fee, you pay them for introduction only to land on a dud or something that didn't even exist. And that's the problems that the industry has been played with. So we've removed all that. We're not here to promise anything, but we have no financial relationships with any of our partners. We don't take fees. We wanted you to talk to the people who know what the heck they're doing and that's all they do. So instead of you spending a year trying to figure it out, you can start and finish within weeks and raising your capital if you have everything ready. And if you don't have things ready, we have people who know how to get you ready and we'll point you to them and give them to you and they'll help you. And then, but why do we do that? Because at the end of the day, all of the people that you're working with, they're human beings, they're professionals. They need a technology in order to transact. So what does that mean? As I said right at the beginning, I said, imagine I'm here today. Hello, everyone. My name is Oscar Joffrey. I'm the co -founder and CEO of CoreChain. I am so excited to tell you today that I have a live offering on my website. And you can simply go there at corechain .io, click the invest button, put in all your details, and you can pay using your MasterCard, your Visa, American Express or your ACH account. Sign the subscription agreement and voila, within a few days, you'll be fully completed and you'll be a shareholder in my company. To do that on thousands of websites all over the place, because there are thousands of companies raising capital is what we build. And that infrastructure has broken dealers, has ID, AML tracking. It's all the things that are needed in order to keep everybody compliant. But most important, keeping it on your website with your look and feel, your brand, so you're building a relationship with the person that came to visit you, to look at your company and to say, you know what, I really like this company. I want to invest. And you click the invest button, voila, the journey begins. And the journey doesn't end from there. From there on, everything is done at the company website, meaning managing their shares, transferring them, trading them, everything is happening there. And that is technology in the background. We're one of those things you don't see. You don't need to see us, but we exist. We exist because we understand how everybody needs to move the information and how everybody needs to do it compliantly, because there's so many different pieces involved. And for a company who is raising, I don't know, $5 million from the general public or 75 or whatever month it is, they're going to have a very large base of stakeholders that they need to communicate with, keep them aware of what's going on, keep them engaged, because that's part of the key. Just like you would customers, right? You buy a CRM software to keep track of customers. Well, these are like they are your customers, but you have to manage them a little bit differently because of regulatory rules. But it's all doable. It's not impossible anymore. People go, how on earth can you manage 5 ,000 shareholders? Technology? It could be a million, it could be two. I mean, it doesn't really matter. I mean, the numbers are irrelevant, but the reality is it can be done. And that's the exciting part for companies of any size. And so when you're out there as a company, you can look at all the opportunities and see what others are doing, whether you're in manufacturing, building homes, cannabis, drinks, alcohol, technology, AI. I mean, I've done just about everything. And here is the other goodie that you're going to love. So the security regulators in the United States not only allowed the companies to raise capital from literally anybody over the age of 18 and around the world. So your market opportunity is 4 .7 billion people. 4 .7 is to incentivize you to invest more in my company. So here's an example. You come in and you make an investment and you're making an investment for 200, but you see right here, hey, if you put in $500, I'm going to give you a free ticket to the show with Hurricane. If you put in $1 ,000, I'll make sure you're in the show. If you put in $2 ,000, I'll make sure you have a dinner. So the regulars allowed us to incentivize. So the company can incentivize you with things. I've had people give away vodka, beer, I mean, knapsacks, pins, Starbucks cards. It depends on their business type or something. Exactly. Exactly. The imagination is open for, and we saw people in one car, one company we had, oh, this one's my favorite, where if you invested over $100 ,000, you would get to use the electric truck for nine months. We saw these people popping in 250 grand under American Express. Let's do it. And people go, and their credit card? Isn't that high? I go, well, if I was ready to make 250 grand, the chances are he's got that in the bank. And if he's smart enough, he just got enough points to take the family out for a Christmas holiday. And he got the use of the truck for nine months, two times over. What a whammy.
Bloomberg Radio New York - Recording Feed
Monitor Show 15:00 09-16-2023 15:00
"With Bloomberg, you get the story behind the story, the story behind the global birth rate, behind your EV batteries' environmental impact, behind sand. Yeah, sand. You get context. And context changes everything. Go to Bloomberg .com to get context. And that is it for this edition of Bloomberg Best. I'm Ed Baxter. And I'm Denise Pellegrini. And this is Bloomberg. Stay with us now. Top stories and global business headlines are coming up right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. United auto workers are holding talks with Ford and GM on day two of the UAW strike. Union members are striking for better pay and pension benefits. Representatives for both GM and Ford say negotiations have resumed after Friday's pause. Union leaders are pushing for what they call a strong and fair contract. President Biden sent two high level White House officials to help mediate the talks. Post tropical cyclone Lee is slamming New England as it barrels toward Canada. The latest update from the National Hurricane Center says Lee is now packing top winds of 75 miles per hour, about 100 miles south southeast of Eastport, Maine. Some 85 ,000 customers have lost power in Maine. Forecasters say tropical storm conditions are likely to continue for several more hours along the coast of Maine and Cape Cod. Texas Attorney General Ken Paxton will remain in office. State senators voted on 16 articles of impeachment today after ending deliberations. The senators acquitted the attorney general of all counts. Paxton only needed to be convicted of one of the articles to automatically be removed from office. He was accused of abusing the power of his office to help a political donor. U .S. Supreme Court Justice Katanji Brown Jackson is calling for American schools to teach the history of racism in the U .S. Jackson was in Birmingham, Alabama, on Friday to mark the 60th anniversary of his death.
Epicenter
A highlight from Robbie Ferguson: Immutable - The Web3 Gaming one-stop-shop
"Yeah, absolutely. We support everything out of the box. You know, Passport is just the offering that we have. I think the last thing, nice thing with Passport is because it integrates in a vertically integrated manner with our control of say like the ZK technology and the order book and the wallet, we can do things like say, you know, shared sequencing or cross wallet liquidity in really seamless ways. But other platforms can't because they only have one layer of the stack. And so our vision is no matter what asset you're trading on any marketplace, on any game, on any rollout, using any wallet, you can do so atomically and seamlessly with no loss in security or sort of custody with anyone else. And this is this vision of this sort of universal liquidity for digital value. Yeah. Talk a little bit more about, we talked about this before the show, the enforceable royalties. What's that about? Yeah. So this is obviously pretty topical. You have the marketplace wars over the last couple of years. First, as you had the blurs and the X2Y2s of the world basically say, hey, we're not going to respect royalties. And suddenly soak up huge chunk of pro -trading volume. Then you have an oversea card with some solutions and sort of contracts people use to make sure that they can only be traded these collections on royalty respecting marketplaces and smart contracts. I think this is all indicative of the fact that this really has to be sold as a product layer. Just to kind of understand the problem here. The problem is that when you have assets that are tied to royalty, so like I create like some suite of assets, I put those out on say OpenSea. Unless that contract has royalties built into it at the contract level, you're sort of trusting the platform to extract and deliver the royalties. And that's sort of the issue where if you take those assets somewhere else, if you like just send them to someone, those royalties are not being perceived by the creator. Precisely. So basically it's really hard to enforce royalties with traditional NFT smart contracts and NFT marketplaces. There have been various attempts at solving this, but ultimately it appears as though the game theory, particularly on Ethereum layer one, is to converge toward a zero or no royalties world, because that's the world in which you have to be in order to have any meaningful market share as a marketplace. All these pro traders who are doing the vast majority volume today. Our approach has kind of been from day one, make this enforceable at the protocol level, which we can do due to sort of a couple of things we've designed on immutable exits because we have a single sequencer, we can kind of enforce these royalties from day one. With immutable CKDM, it's going to be more of a decentralized solution where we're actually sort of engineering the ways that smart contracts respect royalties and people can opt in. But I think both the principles are, we firmly believe that enforceable royalties have to be available protocol wide in order for marketplaces to be able to fairly compete and gain their market share and game developers to be rewarded. And the thesis is quite simple, which is, you know, if you have Counter Strike Go or Magic the Gathering, Magic the Gathering has an estimated secondary market cap of 10 to $20 billion of cards. But every year they've got to make new, more impressive cards than everything else in existence, making them less value. I guess I sell my old Magic cards. Yeah, like they're tremendously valuable, right? But MTD, the company, has no way of tapping into the value of what they've created. That's why they have to basically dump on everyone else every year by creating this new, more powerful stuff. And so suddenly we can have a business model that doesn't rely on that. That's like, hey, Magic just gets 5 % of every trade. Magic's only incentive would be increased volume, which might mean make new cards that make the game better and grow the player base. It might mean throwing more tournaments, might mean creating an esports league, whatever they can do to increase the value to players of that economy. And so you have complete incentive alignment, even though it can be an incredibly profitable system. So that's why I've been so passionate about it, is it actually enables a much better, more incentive aligned business model that we must protect in order to, you know, essentially have adverse selection or this kind of, you know, tragedy where we do a short -term benefit to players by giving them cheaper trades, and then there's no incentive for game developers to build or to build based on this much better business model. So why is it that this is not enforceable at the smart contract level? I mean, couldn't we just build like a better ERC721 kind of contract or enforce royalties? Is that possible? It is, but it's just very hard to enforce if the collections themselves aren't originally A, sort of written to be, to be opt into those smart contracts. And so a lot of the volumes say in NFTs has been the legacy collections, which weren't incorporated into this. So I think that's partially what has driven this decision with OpenSea. But B, the kind of more simple solution is if it's relying on individual, say marketplaces or individual collections to make this decision, it's just going to be an incredibly fraught debate. The answer just has to be sort of protocol -wide. This is an available standard that can be enforced. Okay. So you guys enforce this by having a sequencer include the sort of the royalty or like extract the royalty when building the block? Precisely. So that's on ImmutableX, on StarkX, an absolutist rollout, but we can do that on ImmutableZKDM. We're going to have a side of an approach. I think we'll be sharing more details soon. Okay, cool. So I want to talk a little bit about the token. So this IMX token, which is actually like, yeah, trading today. And yeah, I checked, there's like $13 million of trading volume somewhere around that. And, you know, actually I found the token price, like, you know, over time has stayed, I guess, like pretty consistent except for, you know, one peak where I guess probably during the bull market, but hasn't lost a lot of its value compared to, I guess like when it was initially launched. So I guess that's a good thing, I guess. How much do you think of that volume as speculators and how much is tied to actual platform activity? I guess maybe a precursor to that question is what's the token use? What's the token's utility is basically Immutable operates very differently to most of the blockchains in terms of our business model. Rather than having say, sort of this L1 chain thesis around value accruing to the token, the chains. And we will obviously, IMX is going to be the core gas currency of ImmutableZKDM. I think we're now, you know, capturing a lot of that narrative, which is really interesting. But our philosophy has always been, we think a much better and much more aligned business model is to make the most liquid value add platform possible for web3 games and take 2 % of every trade. And this way we can build something that has completely aligned incentives for developers when they make money or when users trades when making money. And every single time those assets are traded, 20 % of the fees must be paid for an IMX. And so IMX actually has sort of, you know, clear fundamental utility, which I think is, you know, people can sort of look at that and sort of build their utility models around rather than sort of alternatives in market. So that's our utility. That's been the clear goal since day one is to really have this integral into the protocol and how we add value to every single trade. And then yeah, the volume, you know, how much of the volume you think is, or do you have a sense of, is that something you're tracking somehow? I mean, like how much of that is tied to actual activity on the platform and how much of it is speculative? Well, the vast majority would be people trading based on, you know, what they sort of perceive the utility to be. I wouldn't necessarily call that speculative, but, you know, I can, up to the reader's interpretation, I think the most important thing is this thing has a clear, right, kind of that we've set in stone since day one. And our vision is to construct really just some of the most sensible tokenomics in the world. So the few things that really excite me about the token, obviously Immutable, you know, doesn't generate this. This is run by the Digital Worlds Foundation, but is one, every single person who trades on Immutable can own part of the protocol. And that's because, you know, every single time of trade you're earning IMX tokens. And the vision of this is really cool because you have 3 .1 billion gamers. If this takes off, everyone can own a part of this open ecosystem of what the future of digital property ownership is going to be. And that's probably my favorite thing. And the second thing, you know, you talked about how the price has been quite stable. Obviously, you know, not here to comment on prices, but the circulating supply is much higher than most alternatives. It's sort of used a lot more. And we've been able to maintain that ranking or improve that ranking from 150 to 50 over the last year in circulating supply, even despite everything unlocking. I think that's because of sort of the, you know, the utility and the long -term alignment we have from Haulers today. And then the final thing I'd say is that obviously the vast majority of IMX allocated to ecosystem grants, the vast majority of these grants, all of which are issued by the Foundation, are almost completely underwritten. So, we don't just give them out to games in exchange for grants. The games actually have to deliver volume to the protocol in order to earn those grants. And right now, in order for roughly 180 million of tokens which have been allocated, over $12 billion in protocol volume has to be achieved in order for them to even be given out. So, in terms of ecosystem allocations, we run, you know, the recommendations here are incredibly efficient in terms of how they're structured for grants versus returns. And game developers love it because they know that ultimately, you know, that there's no supply just going out there, no value being brought. Everyone has to contribute to the ecosystem in order to sort of end up owning part of the protocol, which I think is really important. Very cool. Yeah, I mean, maybe to wrap up here, what is the, yeah, what's the roadmap and what should people be looking into when it comes to Immutable? How can people follow the protocol also in the project? And yeah, any final thoughts? Yeah, look, Testnet just went live two weeks ago. We have pretty much every game on the platform signed up to Passport. We've just done our biggest quarter of onboarding games ever in the company's history off the back of this Polygon announcement, basically, you know, increasing our win rate by 75%. We've got over four years of runway way over the long term, whether it takes a year to get to that hit or four, and we're here to change digital ownership for good. And the thing I would say is, look, coming up, we have Mainnet in quarter four, we've got God's Sunshine going mobile end of this year, Build of Guardians, Shardbound, Infinite Victory, all Immutable titles being published this year. And we've got a ton of our biggest games on the platform on the rise. Yeah, Across the Ages, number one in France, strategy game in Australia. You have Alluvium going out of their open beta, Imminently, probably one of the most hyped games in Web3 right now. We're really just excited by the continued raise of the caliber of quality of games right now. And, you know, as I said, you can't wave the magic wand on the timelines, but it's pretty clear that a single hit is going to pull gasoline on everything and catalyze what has already been a very heavily invested in category. So personally, we're actually thrilled with the pace and progress of things. I think it's just continued to build through despair and help people get to these hits faster, more profitably, and more sustainably. Great. Robbie, thanks for coming on and telling us all about Immutable. And also, I mean, I've learned a ton about Web3 Gaming so this has been great. Thank you. Thanks, Deb. Thanks for having me. Pleasure. your inbox as they're released. If you want to interact with us, guests, or other podcast listeners, you can follow us on Twitter. And please leave us a review on iTunes. It helps people find the show and we're always happy to read them. So thanks so much. And we look forward to being back next week.
Thinking Crypto News & Interviews
A highlight from ELIZABETH WARREN RAMPS UP ANTI CRYPTO PLANS WITH SEC GARY GENSLER - DEUTSCHE BANK CRYPTO CUSTODY
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, we've got big news that Senator Elizabeth Warren has added nine new co -sponsors to her anti -crypto bill. They're all Democrats, those co -sponsors. This has not changed the trajectory of the bill as most of these co -signers were expected. This is being reported by Taylor Barr of the Digital Chamber of Commerce. And you know, it's not a surprise that they're all Democrats, but these Democrats got to get their act together. Many of them are not going to be reelected because of this stance on crypto, in addition to other political issues. And I'm not here to say Democrats are worse than Republicans or Republicans are better, right? I'm pretty much an independent and I look at who's the best candidate from that standpoint. But the Biden administration and many Democrats are really, really screwing themselves over. Now I want to be fair, there are many Democrats who are pro -crypto, right? We've seen Richie Torres, Ro Khanna, and a bunch of others who have been doing a great job. The problem is Senator Elizabeth Warren's voice tends to drown out many of the other Democrats. And she has a large following, right? Because of other issues that she covers. But we know she's corrupt and she's been doing a lot of backdoor dealings with scumbag regulator Gary Gensler. We know she sends him the questions and answers ahead of hearings. We know she's been working with him to try to get the crypto market in a mess. We saw that Promethium was a plant by Gary Gensler and the SEC. And I think Elizabeth Warren certainly helped with that. Elizabeth Warren also contributed to the bank runs that were happening early in 2023. It started with banks that were pro -crypto, of course, and then that domino effect happened where you had a whole bunch of different banks started collapsing. So I don't trust Elizabeth Warren. I don't think ultimately she's going to win anything here against crypto. The most she may do is slow us down. But crypto is going to outlast her and corrupt scumbag regulator Gary Gensler. But we do have to make sure that we keep fighting and we spread the facts. This is why I always tell you guys, contact your representatives, use Twitter and social media to your advantage, make content and much more. We can drown out all of her tweets and all of her things about crypto. And we see the narratives around Gary Gensler collapsing, his false narratives, and he's getting exposed in court. So the more Gary Gensler takes defeat, the more Elizabeth Warren's going to lose wind in her sails to back Gary Gensler and to say, oh, you see all these crypto things are all scams when the courts are disagreeing with Gary Gensler and the SEC. But we've got to be vigilant. We've got to watch out here. She's certainly not giving up. She's up to something. But we're ultimately going to win the war, folks, and crypto is going to outlast both her and Gary Gensler. Now speaking of Gary Gensler, some of you may have seen this video and it's hard to convey this on the podcast, those of you listening on Spotify and Apple and Google. But Gary was interviewed by Brooke Masters, who is a journalist at the Financial Times. And Gary was stating his false narratives and lies, right? He was saying, crypto, these guys don't abide by the law, there's hucksters, there's scammers, the same old bullshit, talking points. But surprisingly, the journalist, the interviewer responds saying, they seem to be finding some sympathetic judges, referring to the SEC's recent court losses to Ripple and Grayscale. Then she said, so you got to watch out there. And if you saw Gary Gensler's face, I mean, those of you watching the YouTube video, just look at his face. This is going to become a meme. He just, he didn't say anything in response to her. It was like this awkward silence and his face just tells it all like, he was not expecting that. And I'm sure it cut him deep. But even, you know, journalists and mainstream media are recognizing this guy is blowing out hot air. Like you can say all those things, but the reality of the situation is you just took a big loss with Grayscale and the judges are ripping you apart. And you took a big loss in the Ripple lawsuit, and it looks like the SEC is going to take a loss in the Coinbase lawsuit. So once again, the optics and narratives are falling apart, and this is what I've been telling you guys. A big part of politics is optics. And he can shout on the top of the hill that, oh yeah, there's all hucksters, scammers, and it's all securities, but the courts are disagreeing and that's where we're going to win. Now, quick word from our sponsor, and that is Uphold, which makes crypto investing easy. Uphold is a great platform that I've been using since 2017. They have 10 plus million users, 250 plus cryptocurrencies, and they're available in 150 countries. Another cool feature is you can trade precious metals on this platform, as well as 37 Fiat currencies. You can easily swap between those respective asset classes, Fiat, precious metals and crypto. So it's pretty incredible. No other exchange offers this type of functionality. So if you'd like to learn more, please visit the link in the description. All right, folks, we also got news here that John Deaton, yes, our friend John Deaton, who has been fighting on behalf of the 75 ,000 XRP holders, well in the library appeal, remember library is now appealing the ruling, given that there's updated case law with Ripple, John Deaton has filed his notice of appearance on behalf of Amicus Curae Naomi Brockwell. So if you remember Naomi Brockwell, she served as Amicus Curae, where she was stating that how she was using the library platform to earn LBC tokens and much more. I was also, you know, using the platform the same way. We know the SEC unfairly attacked the library here, but it's all, you know, the bullshit from Gary Gensler just attacking the market, not providing any guidance, not trying to work with the market. And even, you know, commissioners at the SEC, such as Hester Peirce and Mark Ueda have been dissenting on all these actions. So it's pretty clear what's happening. Now yesterday, we talked about the SEC attacking Stoner Cats NFTs, which was founded by Mila Kunis and Ashton Kutcher. And we know it's just unfair, right? We talked about it. It's like, well, you can't release artwork anymore. What about baseball cards and sports cards, right? Are those all securities now? It's just ridiculous. Well, Stuart Eldoradi, chief legal officer at Ripple, he weighed in on the SEC's decision saying, I don't know all the facts here, but I do know that a settlement to avoid a crushing SEC process without admitting or denying anything is binding on no one. A cynic would call it a PR stunt. What matters is that when seriously challenged in court, the SEC continues to lose. He's absolutely right. But folks, as we've been talking about for years now, the ultimate goal here is Gary Gensler has been weaponized. He's a puppet on strings so that he can come in and kill these crypto startups so that his big Wall Street buddies and banking cartel buddies can come in and take over. Here's another prime example, Deutsche Bank to hold crypto for institutional clients. Well, look at that, folks. Gary says there's only hucksters, scammers, and fraudsters in this market. Does that include Deutsche Bank? Does that include BNY Mellon, Fidelity, BlackRock, JP Morgan, Goldman Sachs, right? All of them are getting involved in crypto in one way or the other. So let me give you the details here, folks. Deutsche Bank has partnered with Swiss crypto firm Taurus to provide custody services for institutional clients, cryptocurrencies, and tokenized assets. Taurus said in a statement on Thursday, the partnership means Deutsche Bank will for the number cryptocurrencies of for its clients, as well as tokenized versions of traditional financial assets, a Deutsche Bank spokesperson said, folks, see what's happening. Always watch what they do, not what they say, right? If you were only listening to the talking points of Elizabeth Warren and Gary Gensler, you may be scared, right? Let's say you're not well -researched, not well -versed. You don't listen to the Thinking Crypto podcast, right? And you're not paying attention and you're passively looking at this. You may catch some headlines from Gary Gensler and Elizabeth Warren and you're like, oh my gosh, man, it sounds like there's a lot of scams going on in this crypto market. I better not get involved. But we know, folks, watch what they do, not what they say. As Gary and Elizabeth Warren are saying that, in parallel, BlackRock, Deutsche Bank, Fidelity, all the big institutions are getting involved, right? The facts are right in front of our face. You've just got to look at the entire market holistically and pay attention to what's happening and who are making moves, who's investing, who's raising capital, and much more. So, crypto trading is not the bank's immediate plans, this spokesperson said. Deutsche Bank said it aimed to offer crypto trading in a World Economic Forum paperback in 2020. But, folks, let me give you a prediction here, which I think would be 100 % accurate, right? Just in a matter of maybe three to four years. They will all offer crypto trading. This is going to be, what is it, the 12th sector? If I'm not mistaken, I'm getting all my sectors together, right? Of the S &P. Crypto will be trading on stock markets. ETFs will be the thing. It's coming. We've seen the maturation and the growth and the adoption.
Real Estate Coaching Radio
A highlight from Real Estate Agents: How To Stop High Mortgage Payments From Killing Your Business!
"Welcome to Real Estate Coaching Radio, starring award -winning real estate coaches and number one international bestselling authors, Tim and Julie Harris. This is the number one daily radio show for realtors looking for a no BS, authentic, real time coaching experience. What's really working in today's market, how to generate more leads, make more money, and have more time for what you love in your life. And now your hosts, Tim and Julie Harris. Welcome back. So on today's podcast, what Julie and I are going to be doing is explaining with enough detail that all of you will walk away feeling like you've learned a lot and you can apply that knowledge and help you to help people make money. We're going to be explaining the differences in different types of mortgages that are out there. Now why are we doing this? Because many of you are frankly walking around with a lot of misinformation about the different types of mortgage products out there and it's costing you deals. How do I know that's true? Because Julie and I trip over the agents saying things with a lot of authority that are completely wrong about the different types of mortgage products. That's right. So this is how you're going to overcome the number one buyer objection and we're also going to talk about it from the listing side in a second. Buyers are saying things like, I don't want to pay these high interest rates and high mortgage payments. I'm going to wait for the rates to come down. Well, they don't actually have to wait. You don't have to wait. They just have to utilize a different type of mortgage. Now there are several ways to overcome higher rates. We're going to show you the top three and we're going to give you enough information to make you dangerous and you're going to take it the rest of the way or join coaching. Because this is a podcast. This is not a coaching session. And this is great information as always to use if you're training your team, your brokerage. Maybe you're going to do a buyer seminar and you want to give them the drill down on all the rest of it. But really it's knowledge equals confidence, ignorance equals fear. You've got to know this stuff so you feel frankly capable and competent in the marketplace to be working with people because guess what? This marketplace is going to introduce or force all of us to relearn a lot of the sort of different mortgage products that are out there because 30 year fixed rate mortgages until the rates come down to a more or frankly, if you're doing new construction, you're going to be looking at a lot of folks that are going to be looking for ways to make the payment more manageable. That's right. So there are several ways to actually close at a lower interest rate than the going rate rate. We're going to show you the top three. Those three things are buy downs, paying discount points and adjustable rate mortgages, otherwise known as ARMS. So this information is not just for buyer's agents. It's also for listing agents to understand how these programs actually work. Now, frankly, it's mostly for listing agents because a lot of listing agents are turning away offers that are very viable because they don't understand the nature of the mortgage. We talked about this the other day when we were talking about first responder type loans. It's like you'll get a VA or an FHA loan, Mr. Listing Agent, and you'll just shoot it down because somebody told you that those are whatever, whatever. You don't have actual experience and you're listening to people, you're getting advice from people that don't, guess what, have actual experience and you're costing yourself a transaction, you're costing the buyer agent a transaction, but you're also costing in that case that I just gave you, maybe a veteran, an opportunity to buy a house. Yeah, that's exactly right. So remember, just because a buyer asks for closing costs or is getting a mortgage that's not a standard 30 -year fixed does not automatically make them a risky buyer. Maybe they're just getting a lower rate so they have lower payments. That is a big mistake that I'm seeing mostly from listing agents. As you said, they're shooting down perfectly good stuff. Okay, so note to self, credit scores are at an all -time nationwide high. Home equity is high. We've talked about this on previous pods. 30, 60, and 90 -day late payments are at an all -time low. This means that most buyers are in a strong position to buy and they are likely just taking advantage of different types of loan products versus choosing an inferior loan product like some listing agents believe. See, what's happened is, because you guys are so used to standard issue 30 -year fixed, a lot of agents think in their head that anything that isn't like that must be subprime or it must be too risky. There's something wrong with it. Let's take that to the next level. I don't think, okay, agents, now that we're exposing all this to you and there's tens of thousands that are going to hear this, now it is on you to learn what we're going to expose you to and drill down and even learn it more. But I think really the real root of the problem are loan officers who don't know how to do anything other than revise in 30 -year fixed -rate mortgages and or they don't actually have within their mortgage business different types of products other than traditional 30 -year fixed -rate mortgages. So Larry the lender, who you love, is not going to be able to work with you in a mortgage environment like this because the actual essentially list of different mortgage products he has is not versatile enough and you're going to have to open your mind to the fact that buyers are more qualified right now than you actually think they are. Oh, and by the way, some of those buyers are actually going to be sellers as well. You guys getting the point here? The reason that the market is so, I think, the feeling the way it does, a lot of it has to do with lack of knowledge amongst the professionals that are supposed to be doing the transactions. And you may have to change the lenders you're working with. You know, of course I listen to a podcast about this, a lot of the small and medium size lenders are actually going out of business because their refi business dried up and because they don't have all the products that are needed in this market. And they also don't know how to work and do anything other than refi. That's right. So you may have to actually change your mix of lenders or if you are a mortgage lender listening and we are very mortgage lender friendly, many of you are joining our coaching program and getting real estate licenses, you might need to expand what your offerings are or, you know, talk to whoever's in charge about that. By the way, we know we're giving you a lot of information. What we're trying to do is open your mind to all the amazing, frankly, information out there for you to learn because once you have this knowledge, it's going to give you an unfair advantage in the marketplace when you're talking with a prospective buyer or seller. But don't worry if you're missing any of the points from today's show, the notes are down below. Scroll down, open up the show description. They're all there waiting for you. And of course, as always, you can also join premier coaching. It costs you nothing. So listing agents do your research before you shoot down a buyer just because you've never heard of their loan program or because you believe that adjustable rate mortgages are evil and have a terrible reputation. A lot of that is a hangover from things that you might've heard about from the housing crash, but that doesn't mean it's the same product. But again, it might be not things that you heard from the housing crash. It may be your office manager or your mentor or your quote unquote coach heard from the housing crash. When you're going through the process of learning who you should be listening to and taking advice from, you've got to be ultra careful because one little bit of information, just look at what Julie and I have exposed you to. So let's say you're walking around with this attitude that arms are terrible, but arms can make it so that a lot more people can have, say, fixed rate mortgages for the next five or seven years. That's what an adjustable rate mortgage is, meaning a lot more people can buy a house. So because you think arms are awful, you turn down that, again, veteran buyer that's going to do an FHA arm, let's say. Whereas had that person bought that house because of inflation and depreciation, say for $400 ,000, and over the next, say, five years during that time when they had that adjustable rate mortgage, that house could have appreciated by over $100 ,000. You just took from that person, in my case, a veteran, the opportunity to build some significant equity in their property. You've got to be opening your eyes to the importance of having this information because at the end of the day, listeners, your job is to be of service to other people. How many people can you be of service to if you don't know how to actually do the job? Exactly. So we're going to look at three common ways to close at less than the going 30 -year fixed rate. Buy downs. Now, I want you to separate all these because a lot of these terms sound similar. A buy down is a mortgage where the buyer obtains a lower interest rate for at least the first few years of their loan. There are different types of buy downs. A 2 -1 buy down is where the buyer has a lower rate for the first two years of the loan. A 3 -1 is for the first three years of the loan. They buy down the fee, that's known as points, that can be paid by the seller on behalf of the buyer or by the buyer themselves voluntarily. When a buyer asks for closing costs to be paid by the seller, this is where the money can go, for example. Now, builders, as we discussed on yesterday and the day before our podcast, utilize this type of financing routinely. That's why closing on new construction is likely to have a lower interest rate, thus a lower payment. And sometimes you can buy the rate down on an adjustable rate mortgage. So an adjustable rate mortgage is already going to have a lower rate, and sometimes you can buy that rate down even lower. That's right. You can kind of mix these. Okay. Well, you're getting complicated now. I know, but still. Now, since builders subsidize lower mortgage interest rates, a buyer might have the same payment on a higher priced build home using builder financing as they would on a typical 30 -year fixed rate at the going rate on a resale home. And we talked a lot about that on previous pods. Whether it's a home builder or a resale seller who's subsidizing the rate buy down, typically the price is raised to compensate. So we're going to take a couple of examples. I'm going to do these kind of fast because you guys can get the notes. On a 3 -2 -1 buy down, the buyer has lower payments for the first three years. For each of those first three years, their interest rate then goes up by 1 % annually. The full interest rate then applies beginning the fourth year of the loan. They can, however, refinance or sell the home at any time. Now a 2 -1 buy down, the discount is applied for the first two years, providing a 2 % lower interest rate for the first year, then a 1 % rate discount for the second year, and then the third year it adjusts to the actual rate. Now the buyer on their own behalf or the seller or even the builder pays the lender for the subsidy and it is paid at closing. Now buyers can qualify easier with lower rates and enjoy lower payments for the first couple to few years of the loan, if it's a two -year buy down or a three -year buy down. This makes sense especially for buyers who expect their incomes to rise or add a spouse's income in the next few years. I remember we closed some of these with doctor clients. When they were still in medical school. When they were still in medical school. Now some of you guys would shoot that out, oh it's a 3 -2 -1 buy down, I've never heard of that, that must be risky. Well in fact it's a pretty kick -ass borrower that's going to make more and more money and it's the right product for them. Jules, we've had coaching clients that make a fortune off working with doctors that are in residency who know, and they're special, guess what listeners, they're special programs just for doctors who are in residency that a lot of the lenders offer, especially the local banks that you don't know about because you haven't asked yet, where it's exactly what Jules and I just said. They will be able to get loans with basically no money down. Even with tons of student loan debt, right? But why? Because remember we usually talk about risk management with lenders in kind of a yucky light that they're making it harder. In this case they actually believe more because they're doctors, they know their income is going to go up, they know they're going to pay off their student loans and they probably have really killer credit. So here's a case where the agent perception might be completely different than the lender perception and they're actually shooting down a really great qualified buyer just because of the type of loan they have. Well, the agent's perception, not to the lender, but the agent's perception versus say for loan product. Exactly. I said that wrong. You're right. No problem. Okay, so let's do the math. Here's some examples of how a buy down mortgage can work. Say you're borrowing 250 ,000 with a 30 year fixed rate at six and three quarters. You can choose between a two one buy down or a three two one buy down, but here's how the payments would be on a two one buy down. Okay. Year one. And this is, this is as of two days ago. As of two days ago. Let's, let's say that the going rate is just under seven because we're all expecting to land somewhere around there. Okay, so the going rate 30 year fixed, you would have closed at six and three quarters, but remember on a two one buy down, you have two points lower starting on the first year. So again, the, uh, you're borrowing $250 ,000 down year one. The payment is $1 ,304 because you're only at, guess what, a 4 .75 % interest rate. Year two, it goes to $1 ,459. That's at five and three quarters. And then year three is $1 ,622 at the full six and three quarters interest rate. If rates were to all of a sudden plummet that you can refinance out of this as well too. Then do it and fix the rate. But just make sure, listen, there's no prepayment penalty. Those are super rare, but write that down. Never forget. Make sure there's no prepayment penalty. That's right. Now the buy down fee, what did it cost the borrower of this $250 ,000, okay? What did it cost them to make their payments lower for year one and year two? The buy down fee for this loan would be $5 ,759. Now if you did the three to one buy down, your loan would, I'm sorry, your payment would start even lower at $1 ,158 because you're only at three and three quarters. Then the next year, $1 ,304, $1 ,459, and then $1 ,622 when it goes to the full amount, right? So here's the thing, meanwhile the buy down for that one increases on the, when you do a three to one, now it's $11 ,000. So if a buyer is considering a buy down, they should look beyond the initial low payment period to determine whether the costs involved in the near term are actually worth the savings, right? Depends on what's important to them. So let's, we don't, I mean this doesn't necessarily, all the numbers don't translate very well to a podcast, but here's the big takeaway. Let's say for example you're dealing with a home seller that's sitting on a mountain of equity in their home as most sellers are. And let's say they're real skittish about the interest rate on whatever they want to buy. Let's say they want to go from their $400 ,000 house that they owe $200 ,000 on and they want to buy something for $1 .2 million but they're just, can't wrap their mind around the interest rate. They have a lot of equity, they can buy that interest rate down, they can get that payment to exactly where they want it to be. Maybe that was an extreme example, $400 ,000 to $1 .2 million, but you guys get the point. But they're doing it voluntarily. You don't have, you know, we think of this as builders do this all the time. Any borrower can do this on almost any type of loan. Now note to self, not all types of loans or types of homes can be using a buy down. FHA and USDA loans have additional requirements and you should always monitor for prepayment penalties as you said. So what if a buyer wants to lock in a lower rate for a longer period of time? We were just talking about the buy down, which is usually a 2 -1 or a 3 -2 -1. What if they want a longer period of a better interest rate? A buyer can choose to pay the lender upfront, which is at closing, for what's called discount points. So this is a little bit different. What is a discount point? They are prepaid interest that the borrower can purchase to lower their rate on subsequent monthly payments. They are a one -time fee paid upfront during either a normal purchase or later you can do this on a refinance as well. Each discount point costs 1 % of the total loan amount, not the purchase price, the loan amount, and lowers the loan's interest rate by one -eighth to one -quarter of a percent. It's not one -to -one like some people think. It's, you know, 1 % of the loan amount, one -eighth to one -quarter percent lower. Check with individual lenders about their rules and requirements because it's not all the same lender to lender. Now, discount points do not have to be paid out of the buyer's pocket, though they can be. The buyer can ask the seller to pay for discount points or the builder in a new construction purchase. Sometimes the seller will raise the purchase price to make up for their contribution. The house still has to appraise for the higher amount. Builders who subsidize loans usually already have that baked into the price, so you don't even have to negotiate that part mostly with new construction. Discount points make more sense if a buyer is going to keep the house for a longer period of time and less sense if they're going to potentially sell in a shorter period of time. If it's a shorter period of time, you would have done the buy -down instead because maybe you're going to sell in three years. If you're worried about the appraisal, which you should be, you're going to want to then maybe ask for a full asking price, assuming it's priced correctly, and then ask for the seller to contribute to the buyer's buy -down points or closing costs and the rest of it, too. So keep that in mind. By the way, if you're a listing agent sitting on a house that hasn't sold and you're thinking about a price reduction of $20 ,000, maybe instead you do $10 ,000 towards a buyer's buy -down or discount points and you sell it instantly because you just gave the buyer that money. Or offering to pay their property taxes for a year, or offering to pay their HOA fees for a year, offering to pay all kinds of things. There's a lot of ways to avoid the uncomfortable, Mr. Seller, it's time for us to discuss repositioning your house on the market to correctly reflect the buyer's expectation. Never say lower the price, that's a surefire way to get fired. But even that conversation, even with our fancy script, is still going to raise the cackles of most sellers. So it might be a smart idea for you then to not necessarily go after the price, but offer more incentives to the buyer and the buyer's agent to sell your house over another one. People no matter, and this is true, this has actually surprised me, no matter what the cost of the whatever is, people are very payment shoppy, really. At the end of the day, people are payment shoppers more than price shoppers. That's how people think, right or wrong, judge it or not, so there it is. That's right. And by the way, we've done entire podcasts about 12 ways to sell your house that you're listing that's not selling, this is one of them, is contributing to the buyer's loan. Okay, so buying discount points can reduce their rate and lock it in for the life of the loan. That makes it better than a buy down, but again, it matters how long you plan on being in the house. Well, it's because the same amount of money, if you're doing a discount point, will buy the rate down more if you're just doing your previous option, right? So for this, you could actually spend a little bit less money and do a 2 -1 buy down or whatever, maybe it's a 3 -1 or a 4 -1, who knows, but versus an actual discount points, Julie gave you an example, the discount point might only buy, buying a discount point down might cost the same as doing a 2 -1 or a 3 -1 arm, but you're only putting, you know, you're only getting a quarter point off. Exactly. So it's a lot less or an eighth of a point. Yeah, but you know, a really great lender can do a side -by -side comparison and give you your options, right? Okay, so buying discount points can get it locked in for the life of the loan. It is not the same as an adjustable rate mortgage, we're going to talk about that next. The adjustable rate mortgage is locked in for a limited time period, commonly 5, 7 or sometimes 10 years, and then adjusts to a variable rate. I know this stuff is confusing, I'm not expecting you guys to become loan officers unless you already are one. Now let's define what the word variable rate means. Variable rate usually means in the mortgage that after 10 years, it's going to adjust to whatever the market, the prevailing market rate is, and it might be like, and they're going to write in the mortgage exactly how they're going to figure out what the, essentially what it's tied to. What it's tied to, exactly. We'll get into a little, not too many weeds, but a little bit. Okay, so adjustable rate mortgages, these are called ARMS, okay? They have features of both fixed and adjustable mortgages. It's fixed for the first 5, 7 or 10 years, and then the rest of the loan becomes adjustable. But remember, again, you can always refinance or sell the home at any time. That's, but so again, adjustable meaning that it's going to adjust after the initial ARMS. After the initial fixed part of the loan. Exactly. Then it's going to adjust where the prevailing rate is. That's right, so. So it's not like you're going to wake up every day and like be playing mortgage interest rate roulette. Exactly. No, you'll know what's going on. Okay, now, for example, in a 5 -1 adjustable rate mortgage, the rate is fixed at a lower rate than the 30 -year, but it's fixed for only five years. In a 7 -1 ARM, you have a lower rate for seven years, and then the rate adjusts. It then adjusts every year starting the sixth year based on the performance of a benchmark rate. There are usually caps to how far it can adjust during any period. So for example, if your adjustable rate, you closed at 5 -3 quarters when the 30 -year maybe was seven, and you have that fixed for those five years, the sixth year, you're not going to wake up and it's going to be five points higher. Most of these, I've read a lot of these, most of these will have a cap of two, you know, two percent higher or three percent higher, somewhere in there. They also have a low -end cap where, because it can actually adjust lower. Nobody ever thinks about that, do they? Okay, so did you know that if a buyer pays their own discount points, it can also be tax -deductible? The IRS actually considers discount points to be prepaid mortgage interest, because that's what it is, and as such, they are generally tax -deductible over the life of the loan. If they had the home purchase meet certain conditions, they can be fully deductible for the year that it was paid as well. Little known fact. Okay, so discount points can sometimes be negotiated with the lender to actually get more discount for less cash up front. If the borrower, for example, has especially high credit, a great job history, strong ratios, and a good down payment, they're in a great position to negotiate. It's also advantageous to shop these programs with different lenders since they do have some wiggle room, different lender overlays, and special offers. Now here's something, some of these things I know make you guys nervous, because I hear about too many people shooting it down, but here's a fact. Lenders actually like to receive discount point money because it's cash up front versus receiving that money over a time via the interest rate. This might seem like an unusual conversation given the years and years of three and a half percent mortgages, but it's actually quite common practice. You just have to know about it. Knowledge equals confidence, ignorance equals fear. So homework for you is to actually sit down, maybe take your favorite lenders out to coffee. Take two or three of them out, loan originators. They take you out. They should take you out. That's true. Good point. Good point. Unless you have Starbucks cards laying around. Okay. So yes, have them take you to coffee. Ask them to explain how their buy downs, discount points, and adjustable rate mortgages work. Remember yesterday's, or a couple days ago, podcast about first responders. Do they have any special first responder loans? Do they have special deals for teachers, policemen, firemen, doctors, okay? You don't have to know everything about this, but you should be fluent in what's available to your buyers. The more you know, the more deals you can do because you'll be talking about all this stuff and you want to say, you know, the really the impetus for this podcast is how to overcome the buyer's objection. I don't want to pay high rates. I'm out of the market for awhile. By educating your buyers about options, you might re -motivate them to get back in the saddle. Exactly. And again, how many of your buyers are actually, you know, also sellers, people that have houses to sell. This is how we fix the inventory problem in the United States. We just finished a two day series on new construction. We've done lots of podcasts and lots of training in premier coaching about new construction. Well the next leg of that learning is going to learn how to basically help people with different mortgage scenarios. How many of you right now, after listening to this podcast, are feeling a little overwhelmed? I'm going to guess a lot of you. That's okay. Allow yourself to feel overwhelmed. There's I think it's Maslow's levels of mastery or learning, right? Julie's looking at me because she's trying to see if I'm going to get this right. I'm probably not. Maslow's hierarchy or something. No, no, no. The levels of mastery. Oh, levels of mastery. Yes. Was it Maslow? Anyway. Don't make me look stuff up while I'm talking. Right. The first one is unconscious. Incompetence. Incompetence. The next one is conscious incompetence and it's. Conscious incompetence then unconscious competence. I know they all sound the same, but basically you're moving from not knowing what you don't know. In other words, you're walking around. Blissfully ignorant. A cloud blissful of ignorance and you're, oh my gosh, the market's so tough. There's no inventory. None of my buyers are qualified. That is your first level and what we're trying to do, especially on today's podcast, is shock you out of that first level because we want you to embrace the fact that once you are willing to say, oh my gosh, there's so much I don't know, move quickly to that next phase where you're consciously incompetent. When you're consciously incompetent, that's when you're going to be a sponge for new information but that's where the magic happens. And that's why most of you join coaching. When you have that aha moment and you say, gosh, instead of waiting for the market to magically rain listings on me and turn around and make all my buyers qualify and be enthusiastic about everything all the time, maybe I've got to find out some more tools for my toolkit so that I can be more of a problem solver and help more people. Your advantage in this marketplace does not come from buying buyer leads or from essentially doing a bunch of things that are passive lead generation. Your advantage in this marketplace comes from your willingness and your eagerness and your enthusiasm to help people. And the only way you're going to be able to help people is if you earn the right to help them and earn the right is not paying referral fees, earn the right to help them from the knowledge that you have, from the skill set that you can pass along and your quest to be of service to them. That is where you're going to find an unlimited amount of opportunity. You have to lock in to the fact that your highest and truest purpose in this plan is to be of service to other people. The way, only just to repeat what I just said, that you're going to allow, the only way the market's going to give you the opportunity to help a bunch of folks is if you have the knowledge that they need in a marketplace like this. Do you guys see the advantage you could have with understanding just the surface level of what Julie and I just presented to you? Do you see how that's going to make you more confident, be willing to have more conversations because you can help more people? Is this the way you want to go in your career? Of course it is, especially since all of you guys are the smartest, brightest, best looking real estate agents on planet earth. Otherwise you wouldn't be listening to this podcast. So guys, thank you for keeping this the number one listen to daily podcast for real estate professionals in at least the United States. As always, it is our truest honor and our pleasure to be of service to all of you. So if there's ever anything that we can do for you or if you have any show ideas, because all the podcasts in the past like 10 days have come from people messaging us with questions and I'll encourage you to do the same. You can message Julie and I over on Instagram at Tim and Julie or you can also text me directly. This is my real cell phone number but text don't call because I won't answer 512 -758 -0206. Let us know what you want us to drill down on and we will of course do it and we will do our best to keep you guys on the forefront of what is working in this marketplace so you can be of service to more people and then everything that you want in life, business and personal, will certainly follow. You guys have a fantastic day. We'll talk to you on the show tomorrow.
Simply Bitcoin
A highlight from Michael Saylor: Bitcoin to $5 Million is Inevitable | EP 824
"It's all going to zero against Bitcoin. It's going up for everyone. Bitcoin! You're against Bitcoin, you're against freedom. Yo! Welcome to Simba the Bitcoin Live, we're your number one source for the peaceful Bitcoin revolution cover breaking news called dramatic warfare will be your guide through the separation of money and state today is September 14th 2023 another day in Bitcoin another day on the Bitcoin roller coaster they don't call the Bitcoin roller coaster for no reason there's ups and downs we hit 25k we're back to 26 ,697 but if you zoom out if you zoom out in the grand scheme of things if you believe in the meme 21 million divided by infinity or infinity divided by 21 million I think it is we all know we're early but there's something I want to talk about today specifically there was a very famous spaces that Michael Saylor did and I think he did it with some some legacy media people there's a huge spaces and there was three things that he said needed to happen in order for Bitcoin to 10x and then during that spaces he even said if these thing if these three things happen Bitcoin will inevitably hit five million dollars per coin now what were those three things first thing was the changing of the FASB rules right with the accounting the fair value accounting rules and that happened not too long ago we broke the news I wasn't there I had some swan duties that day but Opti and I think it was Rustin were holding it down so we covered that and then number two was large banks right I'm not talking about like small banks or you know these these Bitcoin crypto focused banks I'm talking about large banks offering institutional custody of Bitcoin of digital assets for their clients check that off that's happening you have banks all around the world whether it's Panko Santander the news that came out today which is I wanted to cover this is Deutsche Bank is applying for a license to custody digital assets for their customers and then there and the third thing which has been like the big news of this year is the BlackRock spot Bitcoin ETF or now I would even I wouldn't even call it the BlackRock just a Bitcoin spot ETF those are the three things that Michael Saylor said needed to happen in order for Bitcoin to just go parabolic into this five million you know etc etc and those things are basically already happening like the FASB check that off right that was a huge does a massive deal so check that off the list that doesn't start that doesn't start going into action until the year 2025 then you have so that's the FASB ruling then you have banks large banks cussing Bitcoin check that off the list as well really the only thing out of those three things is the BlackRock spot ETF or sorry the spot I keep saying BlackRock maybe it's a Freudian slip the spot Bitcoin ETF how long will Gary Gensler be able to delay this he got absolutely hammered in in Congress there was a hearing this week so yeah I mean this is pretty crazy and it's really interesting if you've been here for a while you know Opti and I are class of 2016 Opti's class of 2017 but it's the same epoch really you know one of the narratives that existed when Bitcoin was falling you know it fell from 20k back down to 3k and one of the coping narratives all the way down was the institutions are coming the institutions are coming the institutions are coming I think you could say without a doubt that the institutions are here you can't deny that now the thing is do the institutions have the necessary infrastructure to onboard on to Bitcoin and I think that's an open question but you can't deny that the institutions want exposure to Bitcoin that's undeniable right we broke the news the other day that BlackRock had a lot of micro strategy had a lot of exposure to public to publicly traded Bitcoin mining companies as well right so it's some very interesting stuff now here's the thing though right so yes this number go up whoop -dee -doo but remember the revolution is individuals taking back financial sovereignty by taking Bitcoin into self -custody so just because you're buying a Bitcoin spot ETF for BlackRock's Bitcoin spot ETF do Charles Schwab or Robin Hood or whatnot that that isn't real Bitcoin that's paper Bitcoin that's an IOU the only way that you get true real Bitcoin is by you know buying Bitcoin earning Bitcoin mining Bitcoin and taking that said Bitcoin into cold storage right and then preferably the step after that is stop trusting someone else's copy of the blockchain run your own run your own node the one I recommend personally because it's the one I use is start 9 they're freaking awesome so definitely check them out if you're interested in running a Bitcoin node but yeah it's a very interesting times that we're living in but uh you know I don't think I've ever been so bullish how you doing Opti and we're in the the simply Bitcoin merch today bro you're modeling I love it yeah yeah it's uh it's raining right now it's it's officially hoodie season so you're raining but you're inside yeah whatever I feel like wearing a hoodie today if it's nice it's comfy I'm wearing this all the time get yourself one at simply Bitcoin calm yeah man it's hey let your boy live for once geez yeah crazy you're not in uniform bro you you went from collared shirts to hoodies what happened you're regressing well suits coming soon I had a conversation with Chris yesterday I missed that episode man I love Chris shout out the coin shout out our boys over a Bitcoin mag but yeah crazy uh crazy developments and we really talked about it yesterday as well pretty pretty extensively on the show of how it is undeniable that the institutions want your Bitcoin there is so much institutional investment and there's just so much capital waiting on the sidelines for everyone for to get a shirt into Bitcoin you know like all the biggest asset managers well not all of them but many of the big asset managers of the world are looking to get exposure to Bitcoin we're seeing huge banks do the same thing and it just goes to show you that you guys are early and we are on the precipice of an amazing bull run as far as I'm concerned and now is the time to be stacking sats it's still what 26k so like we got the best opportunity ever and I know everyone is losing their mind because this bear market's been so long but this is where legends are made anyways on today's culture I saw this a couple tweets from Tom Luongo and if you guys aren't familiar with him he's a great I guess you call him like he is kind of low -key a gold bug and I know he's kind of maybe loosely understands Bitcoin but he created this meme in and I really wanted to touch on it today because it kind of changed my views on what we've been talking about we're always talking about you know the normies out there or in the not so nice way you know the sheeple out there and he coined this new phrase about like the masses comfortable are our wolves and I really want to cover this because I think it does change the framing and it's a little more positive view on what's going on in the world and we talk about it constantly that people need to feel pain and once they feel that pain and they wake up man shits gonna get really crazy and it really does feel like this is where we are right now so you know just prepare yourself it's it's you know are we on the precipice of a global recession who knows are we you know are we currently in a depression I don't know the official numbers are lying to us but we know that inflation is higher than they want and your purchasing power is going down the drain and I have these conversations with a bunch of my Bitcoin friends and we're all feeling the same thing it's like man dude things are getting more expensive and it's only a matter of time until people start to ask what the hell is going on right now and this is why we keep planting the seeds here on the show you know in personal conversations with people in real life and it's like we have built the foundation for people to protect themselves to get on the exit boat get on the safety net which is Bitcoin so get on the Bitcoin standard guys get on the Bitcoin standard that's right just get on the Bitcoin standard get on the life raft and you know you be watching the world around you doing doing its thing but you know that your future your family's future your wealth your time your energy your work is protected by the largest decentralized computing sorry I'm laughing at the chat you guys are wild breath the Bitcoin numbers is your Bitcoin in cold storage really secure is your seed phrase really secure stamped seeds do -it -yourself kit has everything you need to hammer your seed words into commercial grade titanium plates instead of just writing them on paper don't store your generational wealth on paper papers prone to water damage fire damage you want to put your generational wealth on one of the strongest metals on planet earth titanium your words are actually stamped into this metal plate with this hammer and these letter stamps and once your words are in they aren't going anywhere no risk of the plate breaking apart and pieces falling everywhere titanium stamp seeds will survive nearly triple the heat produced by a house fire they're also crush proof waterproof non -corrosive and time proof all things that paper is not allowing you to huddle your Bitcoin with peace of mind for the long haul stamp your seed on stamped seed that's right ladies and gentlemen don't put yourself in a position where you have to explain to your grandchildren while you lost your generational wealth because you decided to store it on paper store your generational wealth on titanium one of the strongest metals on planet earth you could scan the QR code on your screen right now to take you directly to stamp seed website use promo code simply get 15 % off at the time of recording the Bitcoin price is twenty six thousand six hundred and forty sats per dollar three thousand seven hundred fifty four block height eight hundred thousand eight hundred and seven thousand six hundred fifty blocks to having thirty two thousand three hundred and fifty having estimate April 22nd 2024 total lightning Network capacity four thousand seven hundred seventy six Bitcoin capacity value a hundred and twenty seven million US dollars realized monetary inflation 1 .75 % the market capitalization of Bitcoin five hundred and nineteen billion dollars with a B Bitcoin versus gold market cap four point zero seven percent very very very nice all right good numbers overall you know I love my favorites that I always tell you guys this is the realized monetary inflation of Bitcoin 1 .75 % that number is going to continue to go down forever so it continues to take fiat currencies absolute school even if they get it to their targeted Holy Grail 2 % inflation you know it's not even gonna come close anyways I do have some ways you got my favorite number is block height cuz that number is going up forever Laura that that that number just it just makes an all -time high every ten minutes the matter what next block it's almost like a coin walk next block anyways here's a clip I have two clips for you guys here's a clip from SEC chair chair Gary Gensler and he said some interesting things at the hearing we're gonna play you some clips of this hearing as the days go by though so let's check out this clip and I have another one then we'll talk about it and help protect Americans from the crypto abuses that cost consumers billions if they were to live up to the investor protection built into their current laws it would help investors but right now unfortunately there's significant non -compliance and it's a field which is rife with fraud abuse and misconduct and help protect Americans from the so I I want a friend two things right I agree in a way and I agree in the sense that it is full of fraud it is full of abuse it is full of misconduct now the initial part and help protect Americans from the crypto abuses that cost consumers billions I'm gonna reframes that right from the crypto abuse that cost consumers billions fine you could say shit coins you could say this what about from the governmental inflationary abuse that cost people all around the world millions if not billions of dollars why is that never talked about and that brings me to one of Tucker's episodes that he did in Argentina he did an episode about a 10 -minute episode covering what's happening in Argentina he's gonna cover he's gonna interview Javier Maly Javier Maly is he is he's a hardcore Austrian economist libertarian he wants to end the central bank you know he wants to cut down on the administrative state all of that stuff he said some pretty crazy stuff not gonna lie Tucker's gonna interview him tomorrow but what was really interesting about Tucker's opening monologue which we're going to cover extensively tomorrow is he said the quiet part out loud the invade and inflation is deft politicians aren't productive the way that they raise money is through direct taxation but they could only do that for so long until people revolt so they do that through the hidden tax of inflation we must continue to chip away at this like you know peacefully of course but Chico chip away at this move the Overton window start get start getting people to ask the question what is money why does my money lose purchasing power is it necessary for my money to lose purchasing power that's when people are gonna start asking really big questions and remember they do not have a response to this anyways talking about shifting the Overton window here's Joe squawk five years ago you would have never have believed this we did have a a Bitcoiner who was a writer for Forbes and he got a bit upset when I said that the legacy corporate media changed their tune because of the black rock spot ETF and he said no that's not true I was working at Forbes from before okay I take his word for it he's a cable are news you trying to tell me that the interest from black rock to launch a spot ETF has not influenced their change of tune whatsoever I don't know about that anyways here's Joe squawk it's about a one -minute clip and then we'll talk about it and move on to crypto if you'd indulge me for a second because we always have these crypto conversations and there seems to be this thing happening I don't know Joe we were talking about $25 ,000 with Bitcoin meanwhile black rock and all these folks all the folks that we thought were never gonna do this are now doing it and yet it's not moving at all well it's moving today well I mean sure 26 this is 26 it was for when when we started saying it wasn't going anywhere 4 ,000 oh okay but so but the question is is this now a risk on a risk off thing what do you how do you even correlate this to what's happening with the Fed because for a long time used to talk about crypto in regard to the Fed so I think crypto settling as part of the ecosystem I think people have recognized it is not the new global currency people have also recognized not going to disappear tomorrow is becoming institutionalized and I think actually if I were a crypto person I think this maturation process is a good thing where it moves from day to day is I can't really comment on that I still think it's outperformed every asset one year five year and ten year I mean I think I think he's pretty jaded a little bit right like you know it's going to zero at 4 ,000 and mind you like Pete Russo does a great job doing this but like he goes back in time and finds like original posts of people which is why it's so important to zoom out when in doubt of people posting a Bitcoin isn't going anywhere and Bitcoin was at like $100 Bitcoin was at like $200 at the time right so like when in doubt zoom out obviously Joe is completely converted he's like why have we been talking about the short -term volatility when we started when we started covering this it was literally at $4 ,000 it's at 26 ,000 at the at the you know depths of bear market he gets it I mean and this is actually one of the things that has helped me orange pill as many people as possible it hasn't been me saying the bitcoins better money it hasn't been me saying like oh look you know separate money from state hasn't been me saying you know it's a deflationary currency blah blah blah blah blah blah you know it's been the biggest converter of people you plant the seed you say Bitcoin right they ignore you for like a couple of years and two three years later pass number goes up and all of a sudden you get that text from that friend that you haven't talked to you in a long time and he's like hey about that Bitcoin thing ng you is the biggest converter of people it is the biggest orange pillar in my opinion is the most effective way and clear you could see that with Joe right he was like hmm yeah I mean we started covering this was at 4k I don't know why you're talking about the short -term volatility what the hell's wrong with you anyways why are you pulling that up Opti oh it's from wine it's from wine anyways why what's why you know all the disgrace you've ever done and all the controlling calling me why it might be the worst no I'm just trolling love you wine anyways first and foremost you know shout out the Joe Kernen absolutely love to see him just constantly battle the corporate BS FUD around Bitcoin and and I say this all the time you know like number go up love it or hate it is the fundamental thing driving all a Bitcoin adoption there's that and then on the negative side all of the crazy stuff coming out from you know the bureaucrats out there we covered the g20 stuff where they're trying to roll out a digital ID CBDC central bank digital control mechanisms and these two things together are in my opinion the driving forces for Bitcoin adoption it's like you we say it all the time and and the memes been catching on Nico I don't know if you've been seeing it on Twitter but Bitcoin is slavery it's starting to catch on and people are starting to notice that it's not even hyperbolic anymore but anyways starting with the first video I totally agree with that congressman or whatever like crypto is full of fraud like what a hundred percent agree hence why we're Bitcoin only like there's Bitcoin and there's shit coin and it triggered the thought in my mind about I think I brought it up last week it was the idea I forget what video it was but we played something on in the numbers about the the scene versus the unseen consequences of economics and it's very clearly visible the scene consequences of crypto scams and it very easily noticed and you know it's always rolled out as like the detriment to the whole Bitcoin industry and those are the scene consequences obviously there's been a lot of people getting rug pulled getting you know losing their their life savings because of shit coin scams and so it's very easily an emotional thing you can roll out so people are like ah let's protect the little guy but as we've going to cover and I really thought you were gonna play that Tucker Carlson video that you put on your Twitter I'm sick dude I mean so I was divided I was divided about what I wanted to make the show I was like I was like are we gonna make it about Tucker are we gonna make this about the sailor I think the sailor thing I was I was much more excited about the sailor thing it's a little little thing came out in my head I'm like holy cow the three things that Michael sailor said needed to happen for Bitcoin to hit five million all of those things have happened they've all happened right so I was like we have to cover this we will cover Tucker tomorrow's really actually made a thumbnail for everything it was awesome but I guess I guess you know we'll put we'll put a pin on that thought but tomorrow remember we're gonna be talking about the unseen consequences of money printing and that always gets obfuscated it always gets lost on people because it's not like a linear connection you know like you you gotta you know there's some nuance to this and most people can't think past like 20 seconds you know ADHD or whatever like we're all being inundated with so much dopamine from from social media that we either tune out or it just like it doesn't seem like it's important and and I can see people in the chat saying the same thing that we always hear is like once you start talking about Bitcoin once you say the B word people instantly tune out and it's only a matter of time until people wake up to what's going on here so you know plant those Bitcoin fundamentals into people's minds without using the B word usually helps and and goes a long way and then you find like hey you know have you heard about Bitcoin here's the pill take it but yeah man it just it just goes to show that the world is waking up and every metric that I'm seeing is pointing towards the fact that I think in 2025 more people are going to wake up to the scam that is Fiat and of course the safety boat that is Bitcoin and hey we're here for it so I'm I am super excited yes yes hold on hold on Arthur you can buy our merch with Bitcoin if you so want to yeah exactly go and go click scan the QR code it'll take you directly to the website and you could you could pay you pay in Bitcoin I think a lot I think wine set up the lightning yeah yeah yeah we got you got we got you guys back we got you guys rep some simply Bitcoin merch anyways so yeah man it's a really really exciting stuff alright guys let's jump into the news we got a lot to cover today before we get into news actually right now we are currently sitting pretty at 70 likes help us maintain our streak let's break a hundred likes within the out first hour of the live stream so if you're enjoying the show make sure to smash that like but it smashes mess mess wait wait wait can we do a legacy smash the like button Nico something like that anyways guys let's get to the news the daily news I want to give a shout out to our sponsor foundation devices it's self -custody done right they built a premium grade hardware wallet called passport right here in the u .s.
The Crypto Overnighter
A highlight from 667:DOJ vs FTX, Celsiuss FTC Woes, Grayscales SEC Triumph
"Rockstar Energy punched, bringing a bold and unapologetic flavor packed with energy through a blend of B vitamins, guarana extract, and 240 milligrams of caffeine to fuel what's next. Rockstar Energy drink. Good evening and welcome to the Crypto Overnight. I'm Nickademus and I will be your host as we take a look at the latest cryptocurrency news and analysis. So sit back, relax, and let's get started. And remember, none of this is financial advice. And it's 10 p .m. Pacific on Tuesday, September 12th, 2023. Welcome back to the Crypto Overnight, where we have no sponsors, no hidden agendas, and no BS. But we do have the news, so let's talk about that. Tonight we're diving deep into the legal labyrinth engulfing FTS and its founder Sam Bankman -Fried. We'll also explore why the FTC is going after Celsius CEO Alex Mashinsky. If that's not enough legal drama for you, we have updates on the SEC's standoff with Grayscale Investments. On the regulatory side, find out how the FCA is shaking up crypto investments in the U .K., starting with LUNO. And for a change of pace, we'll delve into the chilling tale of how Ethereum co -founder Vitalik Buterin got SIM -swapped. Finally, PayPal is making its own waves in the crypto ocean. Stick around, you won't want to miss this. FTX is embroiled in a complex legal battle with the U .S. Department of Justice. The DOJ has been accused of overreaching by attempting to block all seven of Bankman -Fried's proposed expert third -party witnesses from testifying. The defense argues that this move undermines Bankman -Fried's right to a fair trial. In preparation for the trial set to begin in October, both the defense and the DOJ have proposed questions for prospective jurors. These questions aim to identify any potential biases among the jurors, especially those related to cryptocurrency or the case itself. Bankman -Fried's bail was revoked last month and he's currently in jail. FTX's assets are valued at approximately $7 billion, including the $1 .2 billion in sole tokens and 38 properties in the Bahamas appraised at $199 million. The company also holds $560 million in Bitcoin and $192 million in Ether. FTX filed for bankruptcy last year, and since then, nearly $2 .6 billion in cash has been secured. The company is facing claims worth $65 billion, including a $43 .5 billion claim from the United States Internal Revenue Service. Over 36 ,000 customer claims worth $16 billion have been filed against FTX. The company is also exploring the possibility of resuming business and has contacted 75 potential bidders for this purpose. The DOJ's aggressive stance against FTX and its founder raises questions about the fairness of the legal process. This is especially concerning for the crypto community, which already harbors distrust towards governmental institutions. The attempt to block expert witnesses could be seen as an effort to control the narrative, potentially skewing the trial in favor of the prosecution. The asset portfolio of FTX is another point of interest. With billions in various cryptocurrencies and real estate, the company's financial dealings are under scrutiny. The fact that FTX is considering resuming business adds another layer of complexity to this already intricate case. The sheer volume of claims against FTX is staggering. The .5 $43 billion claims from the IRS alone could have far -reaching implications for the crypto industry. If the IRS's claim is validated, it could set a precedent for how crypto assets are treated by tax authorities. Now if you thought the FTX situation was a labyrinth, wait till you hear about Celsius CEO Alex Mashinsky. The regulatory sharks are circling, folks, which seems to be coming up a lot. Is this the new normal? Keep listening to find out. And hey, if you're liking what you're hearing, don't forget to follow and enable notifications.
The Breakdown
A highlight from Ripple's Fortress Acquisition Shows the Brittleness of Crypto Infrastructure
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Tuesday, September 12th, and today we are talking about all of this dust up with fortress and the Ripple acquisition and what it means and who you should be mad at. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. All right, friends. Well, today we are talking about one of the biggest discussion points for the last week or so on Twitter, which has been the issues surrounding fortress trust. Let's begin our particular slice of the story on Friday when Ripple announced that they had acquired fortress trust. Now, the deal was pitched as an expansion of Ripple's regulated crypto offering as they built out a vertically integrated blockchain services product suite. And Monica Long, the president of Ripple, said in a statement, licenses are a powerful enabler to build and deliver best in class customer experiences for enterprises using Ripple's crypto infrastructure across our payments and liquidity solutions, which she was referring to as the fact that fortress trust holds a Nevada state trust license, which allows it to custody crypto and act as a financial intermediary with the traditional financial system. This would add then to Ripple's existing strategy of accumulating licenses. Between Ripple and its subsidiaries, the corporate group now holds 30 state money transmitter licenses, a New York state bit license and a major payment institution license from the Monetary Authority of Singapore. So commentary over the weekend on this fell into two camps. On the one hand, this could have simply been Ripple buying a company to add a custody service to its one stop shop approach to crypto. On the other hand, many viewed this as a quiet bailout of fortress. And indeed, the Friday acquisition announcement was slightly strange in tone. Executives asserted that fortress could add a key piece to Ripple's vertically integrated crypto offering. However, the deal announcement was a little bit out of sync with previous announcements from Ripple. Specifically, the acquisition valuation was not mentioned, which was out of character for Ripple who had brashly announced a 250 million dollar deal to acquire crypto custodian Medeco in May. And of course, we have to put it in the context into which it happened. Fortress itself was already viewed with skepticism. The licensed crypto custodian had been founded by former prime trust CEO Scott Purcell in December of 2021. Purcell had left prime trust in January of that year. That was around the same time that prime trust mishandled wallet storing customer funds, leading to an 83 million dollar shortfall. Several key executives left prime trust to follow Purcell into his new venture. The firm was also aggressive in hiring former banking regulators to their team. The rift between companies was so acrimonious that there were even allegations of IP theft in taking software systems built at prime trust across to fortress. In June of this year, the shortfall in customer funds at prime trust came to light. Around this, the company was first placed into receivership by the Nevada regulator and later declared bankruptcy. Now prior to prime trust acknowledging their insolvency, numerous high profile customers fled for other custodians. It was already widely suspected that prime trust was insolvent at the time. The most impactful departure from prime trust was swan bitcoin. In June, swan announced that they would be transferring all customer funds held in custody to fortress. The transfer took over a week and involved a shutdown of automated transactions with swan. To many, it felt like an emergency operation more than a normal business decision, although throughout the process, swan executives assured customers that funds were safe. So this is where we were over the weekend. Lots of speculation, lots of questions around fortress, lots of questions around ripple. And on Monday, new information came to light around the circumstances surrounding the fortress acquisition. The day before the acquisition, my birthday, September 7th, fortress had posted a disclosure about a security incident which they tried to make seem relatively innocuous. On that day, they tweeted, Thankfully, there is no breach within fortress technology or systems, impacted accounts were fully restored. And most importantly, of course, there is no loss of funds. We immediately terminated the vendor integration and out of an abundance of caution paused all accounts to assess and ensure system wide security. We are taking all necessary measures to make sure the vendor is held accountable. Although this has been resolved, transparency and security are of the utmost important to us and our customers. We also have some big company news we are excited to share later this week. Now, Ryan Weeks, a reporter at the block received a tip that the incident had been far more impactful than it was made out to be. Indeed, he was told that 450 Bitcoin worth around 11 .3 million had been stolen from fortress trust, although that specific amount has been unable to be verified. What has been verified is that the ripple deal was much more of a bailout of fortress than it initially seemed. A ripple spokesperson said, Conversations accelerated last week following the security incident via a third party analytics vendor, but this opportunity makes sense for Ripple in the long term. Luckily, Ripple was in a position to act quickly to step in and make customers whole, and there have been no breaches to fortress technology or systems. Fortress notified customers immediately of the incident when it happened, as they mentioned in their tweets. Now, for those of you eagle eyed observers out there, or I guess eagle eared as the case may be, owl eared, whatever, you'll notice that fortress's Thursday statement said, This technically is consistent with Ripple swooping in to make customers whole, but also somewhat misleading if in fact Ripple had had to bail fortress out to make those customers whole, but also somewhat misleading if ripple indeed had to come in to make sure that those customers didn't actually lose their funds. Now what was also made clear on Monday is that the ripple deal is still pending regulatory and due diligence approvals. Given that we already saw the Bitco acquisition of prime trust fall apart during the due diligence process earlier this year, there is certainly no guarantee that it actually goes through. Now, of course, as you've already heard, there are numerous other companies tangled up in this mess. Swan Bitcoin is, of course, one of fortress's most well known customers. They have been in an absolute narrative battle and have claimed throughout that they were completely unaffected by the issue and the client funds remain safe. The other companies impacted are the custodian services subcontracted by fortress. Their role in the industry is mainly as the holder of a relevant trust license rather than as a tech provider. We know, for example, that hot wallet services are provided by fire blocks, while cold storage is provided by Bitco. And indeed, with the behind the scenes detail now made public, Bitco CEO Mike Belshi wrote a Twitter thread outlining his disappointment with how the entire debacle was handled. On Monday, Mike wrote, they are still at risk and whether Bitco was somehow involved. Spoiler alert, we were not. When fortress lost funds, they chose to omit facts about what happened, downplay the event and conclude, quote, most importantly, no funds were lost. Obviously, we now know this was not true. I guess what they meant to say is we believe we fixed the problem and we have taken steps to make sure clients are made whole. But those two statements are not even close to being the same. Ripple has done the right thing and disclosed that a breach did occur. But fortress still has not made a real statement about what actually happened. So, summarizing what is publicly known, along with what we know from Bitco, one, fortress suffered a breach through some third party integration, not Bitco, two, via fortress's platform and some third party integration, the attacker was able to drain funds from fortress's hot wallet system, three, fortress used fire blocks for its hot wallet system, four, fortress noticed the failure and says they have fixed the problem with the third party, five, although fortress did use Bitco to custody some of its Bitcoin and digital assets, Bitco was not affected. None of the fortress assets held at Bitco were at risk from this third party integration or taken. After the breach, fortress reached out to Bitco. Bitco strongly advised fortress to disclose what happened immediately. Fortress did not do that. Eventually fortress decided to sell to Ripple. This is a great outcome because Ripple was able to make all clients whole and will hopefully help fortress with resources to correct the security weaknesses which led to this event. Ripple is a good actor here and should be applauded. The real victims here are fortress's clients who deserve enough respect to get the whole truth. They are not to be blamed. The whole situation is exactly why we need decentralization. We can't continue to be dependent on the honesty of custodians, bankers or trusted third parties acting with integrity when bad things happen. Bad things will happen and most humans don't have enough courage to be honest through it. So there are a lot of things that people are upset about here. One of the biggest strands of conversation has been around Swan. On September 11th, the company tweeted, Swan client coins are in insured cold wallets at Bitco and did not move during the reported incident at fortress. The coins are protected by video calls and physical access and are not subject to any incidents at fortress. Swan set up this agreement with fortress to use Bitco as a cold storage sub -custodian precisely to prevent such a scenario. Swan has direct on -chain visibility to funds at Bitco. When someone asked what kind of insurance Swan was referring to, Corey Clifton the CEO said, It's $250 million per wallet, with no wallet holding more than $250 million, provided by Lloyd's of London. It's the best setup we've seen. As always, take self -custody if you're willing and able. Now, responding to the critique in general of Swan being associated with these companies, which now have a less -than -stellar record handling customer assets and are now owned by a company that is anathema to many Bitcoiners, Corey wrote, Separation of brokerage and custody is the model for traditional assets for good reason, and there's a good probability it becomes law for digital assets in the U .S. I am not a fan of the trust -me -bro model of brokerage and custody under the same roof, like Mt. Gox and FTX. The goal is to have no single company able to unilaterally move user funds. We very intentionally set up Fortress and BitGo with that model. Now, I understand the narrative frustration here, but at the end of the day, the reason that Swan had to work with these companies is that there just wasn't anyone else. This is why as much as some Bitcoiners are worried about the entrance of traditional financial actors into the space, many others view it as necessary to just have more market options for crypto -native brokerage companies like Swan to actually work with. Anyways, the whole thing is a mess, reflective of how bad the infrastructure is for crypto and Bitcoin right now in the U .S., and a reminder of just how challenging digital assets are, even for companies that have big history in the space. The one other big story from yesterday that I want to cover was the FTX creditor update. The FTX bankruptcy team reports that they have marshaled around $7 billion in assets. Using updated valuations from the end of August, the estate holds $3 .4 billion in major crypto tokens. This includes $560 million in Bitcoin, $192 million in ETH, and $1 .1 billion in Solana. Now, of that, it appears that only $137 million worth of Solana is listed as vesting, meaning a much larger portion of the tokens may be eligible for sale than previously thought. The non -crypto assets include 38 properties in the Bahamas worth around $200 million, as well as $529 million worth of securities primarily made up of grayscale Bitcoin trust shares, $2 .6 billion in cash, and $4 .5 billion in venture investments, although no current valuation of those investments was provided. The firm's liabilities show $65 billion in non -customer claims. That figure is massively inflated by a $43 .5 billion claim from the IRS, which is presumed to be subordinated to customer claims. The IRS generally submits the largest possible tax claim during bankruptcy proceedings, but often negotiates down significantly or differs entirely to a creditor distribution. Of the remaining liabilities, a $9 .2 billion claim from FTX Digital Markets is assumed to be invalid or redundant, which leaves $4 .1 billion claim by Genesis and $2 billion claim by Celsius as the major non -customer claims to deal with. So far, a little over 36 ,000 customers have filed claims totaling $16 billion. Of the claims that have been scheduled so far, around 10 % of customers have agreed to their scheduled claims, while 18 % have disputed their claims and 72 % have yet to respond with either an agreement or a dispute. Now, easily the most discussed part of the news dealt with the firm's clawback strategy. Transactions done within a 90 -day window of the bankruptcy filing can be eligible for a clawback, but in practice, not all claims are pursued. The estate has successfully pursued $588 million in claims so far, and they identify an additional $16 .6 billion in clawbacks that could be pursued. The estate is currently considering how to deal with customer clawbacks where users withdrew from the exchange close to the bankruptcy being filed. Several options being looked at included the full 90 -day window for clawbacks as well as a shorter 15 -day window which captures the major public news surrounding the FTX collapse. Travis Kling tweeted about this saying, This brings up a big question of executability. How feasible is it for the estate to go sue people in every corner of earth? This is a really surprising turn in this deal. Everyone was thinking this outcome was quite unlikely the entire time. If the estate ends up doing what it looks like they want to, it will change the nature of this bankruptcy process. We'll learn more at the 9 -13 hearing. Indeed, the estate is due in court tomorrow Wednesday for an omnibus hearing which will cover numerous aspects of the case including the potential liquidation of crypto holdings as well. You might remember that three weeks ago FTX asked for permission to appoint Galaxy Digital as a selling agent. Selling would initially have a limit of $100 million per week which could increase to $200 million if creditors agree. The market has obviously begun to price in significant fear of this FTX liquidation. Sunday for example saw a liquidity breakdown in Solana as rumors of imminent dumping spread. And yet many think that the market is overreacting. Jeff Dorman, the CIO at ARCA said, The way crypto market makers and traders are front -running the FTX supply shows a complete misunderstanding of how a syndicated sale process works. This isn't an every -man -for -himself VC unlock. This is a court -ordered process that Galaxy will sell very slowly and opportunistically. Lastly, the potential reboot of the exchange remains a possibility. According to the report, 75 bidders have been contacted. The report stated that Proposals are being evaluated. Transaction timing will depend on nature of transactions, readiness of bidder, and other considerations. So, friends, if there are currently two archetypes of breakdown episodes, with one being legal battles that are increasingly poking towards a positive direction for this industry, and the other being cleanup from the excesses of years past, this unfortunately was one of the latter. But, as they say, the only way out is through, and so until next time, be safe and take care of each other. Peace.
Bloomberg Radio New York - Recording Feed
Monitor Show 12:00 09-12-2023 12:00
"With Bloomberg, you get the story behind the story. The story behind the global birth rate. Behind your EV batteries environmental impact. Behind sand. Yeah, sand. You get context. And context changes everything. Go to Bloomberg .com to get context. 24 that's according to ESPN. So I don't know somebody's on the hook for that 75 large. Yeah, but anyway, just a terrible, terrible story there. You feel terrible for him and for Jets nation as well. All right, we're gonna have more coming up. This is Bloomberg. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. This Bloomberg is Markets with Paul Sweeney and Matt Miller. We got a lot of green on the screen here, but the volume is light. We constantly underestimate the strength of the U .S. consumer. This is a market that's much more optimistic or bullish than maybe the central bankers are. Breaking market news and insight from Bloomberg experts. There's still some concern out there in the market that there is room for things to deteriorate a little bit more than what they're indicating. As small and medium sized businesses struggle, they don't present as much competition. The supply chain has still got dislocations globally and here in the U .S. This is Bloomberg Markets with Paul Sweeney and Matt Miller on Bloomberg Radio. All right. Coming up in this hour, we're going to talk to cruising business. The CEO of Viking Cruise is going to join us via Zoom, so that'll be very cool. We're going to get a preview of what we're going to hear out of Cupertino from Anurag Rana, Bloomberg Intelligence, then Adam Koons, Portfolio Manager, Winthrop Capital Management. I am going to talk to them, not we. I am going to talk to him about the markets coming up and what he's expecting with the CPI stuff. So that'll be a fascinating discussion. That's because I split early. That's because you split early to go do your TV thing. That's okay. Charlie Pellet though, he stays with us. He's got his news for us.
The Bitboy Crypto Podcast
A highlight from Vitalik Was Hacked! (Beware Of The FOMO!)
"Snapped in, hit that button, they signed in, and they connected their wallet, and next thing you know, they got drained from this Vitalik hack. Some people weren't patient, and they saw Vitalik tweet out a link, and they impatiently just snapped in, hit that button, they signed in, they connected their wallet, the next thing you know, they got drained from this Vitalik hack, everybody. But, it wasn't his wallet that got hacked. It wasn't his bank account that got hacked. But his ex -account did get hacked, everybody. Ethereum co -creator Vitalik Buterin's ex -account reportedly breached. Hacker makes away with $690k. Do they stop there on purpose? Almost $700k, folks. You can see he was leading to a left of $690k. As per Decrypt, the breach happened on Saturday. A post surfaced on his feed promoting NFTs from a software provider, ConsenSys, which turned out to be a scam link displayed to his almost 5 million followers and asked victims to connect their wallets to mint the NFT. Instead, the hacker gained access to the funds. I believe a couple punks got stolen, so most of what got stolen was NFTs, folks. So just got to be careful out there. Maybe people don't have a whole bunch of ETH on a wallet, but they have some NFTs, and so they're out there. They're just clicking things. They're linking things, and it didn't end up going well for those people. So you got to be careful clicking links out there, folks. I think it was a little bit of a FOMO. If I'm guessing what, if you see an hour -long post or, you know, and maybe, but when you see it's, you know, you refresh by following, and it's a 14 -second link, you might go ahead and click that because, oh, you know, only 5 ,000. Maybe they go get claimed. You go on Etherscan. You see 17 people did it in the last two seconds. You're just going to FOMO in. You got to be careful out there. It happens. It does happen. It happens. I don't think that includes the values of the stolen punks. I thought it did. I'm not sure. We'll look more into that as this story has time to digest everybody. Just here to talk about, okay, Tim. Tim and the investing bros are out there, 9 to 10 AM, everybody. You can check that out. All right. Ethereum creator Vitalik, co -authors paper detailing method for weeding out dishonest crypto users. Here you see an Ethereum coin floating in an aquarium for some reason. Him and four additional authors detail how privacy pools can be useful in weeding out unscrupulous crypto traders. Oh, that's a pool. That's not a pool I would want to go into. Give me a bunch of chlorine. Give me some salt. I don't want critters and plants growing in there. In a lengthy thread, one of the co -authors, Amin Soleimani of Privacy Pools, further explains how the protocol works and how it can help issues experienced by users of sanctioned Mixer tornado cache, which is deemed a national security threat in 2022 and banned in the US. With Privacy Pools, users can publish zero -knowledge proofs that their withdrawal originated from an association set that excludes known illicit deposits. In theory, this allows users to prove regulatory compliance and still maintain privacy while using public blockchains. Paper concludes the privacy regulation may be compatible despite generally being perceived as contradictory. I have one issue with this. I guess you could put it as some sort of thing where an association set that excludes. But what's stopping someone from getting four ETH that is from stolen funds from the Lazarus group and then dusting everybody and dusting 10 ,000 wallets with the stolen ETH? Would you then, you know, render those wallets obsolete? Or what if it scaled up? And what if a million people did it a million times a day, what would that look like? So I don't know what that's going to look like. So we have this awesomely photoshopped picture right there. I think that was taken January. Anyways, SEC files appeal against Ripple as legal battle intensifies, levels allegations against Ripple, accusing the company of stalling resolution to preserve unregulated sales. SEC is urging the court to speed up the proceedings. Gary is saying, you need to get a green light, let's go. SEC makes a compelling case for streamlining the proceedings, emphasizing the imperative and efficient resolution. Meanwhile, Ripple stands firmly in opposition, invoking questions of law and strategy, saying, hey, guys, we need time to plan for our appeal here, while the SEC is steadfast in its resolve to scrutinize both, I think it's supposed to be programmatic sales, not pragmatic. Pragmatic just means that makes sense to do it. XRP fanatics would say it's always pragmatic to buy XRP. I think it's supposed to be programmatic here. Programmatic sales and other XRP exchanges for goods and services. Ripple, on the other hand, plans to deny the regulators a request for repeal. Why does this matter? The SEC's decision to appeal the ruling is a development in the ongoing legal battle between the agency and Ripple. The case outcome could have a major impact on the cryptocurrency industry, as it could set a precedent for how the SEC regulates cryptocurrencies. Guys, we're going to see more and more of these, you're going to have the, let me use this word right here. Yeah, I didn't want to say it because you're going to have a, it's basically a pickleball game. It's going to go back, it's going to go forward, it's going to go back, it's going to go forward. I don't have a law degree, because I don't have a, I can't explain to a five -year -old what this means. The SEC has filed its reply memorandum in further support of its motion to certify interlocutory appeal. Of course. When you say it like that, it just means, oh, of course. Basically what it means is, hey, stop, no you stop, no we stop. And then as we get closer to the real news, we'll start letting you know. But this is going to be a mini -month process, I don't see anything happening really, really quickly with this. All right, let's talk about the XRP market cap though. Is it up? Is it down? It's down. It is down. It's down big. Down big, folks. Bigly. Billions. Just one, actually. XRP one erases billion from its market cap in one week. What is this? Is this a towel? Is this a blanket? Is this a car cover? I was thinking the same thing. What is it? I want that swath of cloth. I don't know where it goes, but I just want that swath. Give me that swath. All right, as long as I can stop a moth from my swath of cloth, or maybe it's a cheese cloth for a broth. I don't know what it's for, folks, but anyways, let's get right into the story here. As the sell -off, we're going to go right into this, get ready, Kelly, get ready. As the sell -off continues across the wider cryptocurrency sector, XRP is no exception, having lost over one billion from its market cap in a matter of mere days, despite efforts to increase liquidity by unlocking a billion XRP from the Ripple's escrow system. Yeah, because let's increase liquidity by dumping a billion. That'll work, right? Whoa. No, I think maybe people saw that as a sell the news event there. From Ripple's escrow system and later relocking 80 % into two escrows, guys, they dump, and then the escrow usually sucks up a portion. Most of it. But then when you're not looking, then when you're not looking, that escrow account will dump a little. It'll sprinkle a little here and there. You're like, wait a minute. This is really interesting. You know, I obviously looked really far into XRP's Soconomics when I did the XRP price prediction video, which was actually the best one of them all, and this whole bit about how they unlock a billion XRP every month, and then it's, you know, an X amount, whatever percent, normally it's more than 50%, normally 70, 80 % gets sucked back into a different escrow account, but there is no determining why whatever amount gets pulled back. If anyone knows the answer to that question, please, by all, please let me know. It's Optics. I've thought about it. I think it's an Optics thing. Okay. It sounds really good. Look, we have, I don't know, what is it, 46 billion left, something like that, maybe, yeah, probably around 46, 47 maybe, they have 47 billion left and they dump a billion a month. That sounds pretty bad, but then when you interject this, oh, but we have this entity that just vacuums up 75 % every time. It doesn't sound as bad, and also Ripple, they probably want to make some money selling some Ripple 49 months from now, 50 months from now, 60 months from now, 100 months from now, 200 months from now, and the way they do it is they just suck it into that escrow account. Right. But I'm just saying sometimes it's 70%, sometimes it's 80%, sometimes it's, there's no, I get what you're saying, but there's no rhyme or reason to how much they pull back, and that has always just confused me, especially, people want to project, what will the supply be by 25%, what will the supply be by 30%, and when you have really weird kind of random things like this, it kind of leaves a lot of us stretching our heads, like how are we supposed to figure this out, and the answer is you don't, because it's up to them. No, so you're wondering, like why do they leave 20 % instead of 80 % or 1%, I think they do a little bit of... They change it every, they do it once a month, and it's different every time, it's different every time. It's crazy. I think it's, they think what the markets can absorb. Right, that makes sense. Yeah. That's probably more of a gut feeling. Sure. It's just there's no rhyme or reason to the numbers. There's probably some math quant that they have in a dark closet, and they're like, all right, how many can we, all right, 248 million. And then they shut the door and they see him in 30 days. They throw some Vienna sausage cans at him, probably try to hit him in his head. All right. Refill his water. I like it. I think that's exactly what happened.
Crypto Banter
A highlight from Why Bitcoin Is Gearing Up For Its Biggest Ever Bull Run (Pay Attention)
"The next Bitcoin bull run could be bigger than any other, due to these 10 crypto catalysts, which are currently shaking up the crypto market. And in today's video, I wanna go through each one of these catalysts and explain to you why crypto is uniquely positioned for massive growth in the near future. So look, clearly the market right now is boring. A lot of market participants are feeling apathetic due to the market. This is in part due to the fact that volume is super low. So there's just simply not that much to trade in the way of Bitcoin, Ethereum or majors. And also that the volatility of the market is down. And when volatility is down, there's obviously less opportunities for trading. But on the investing standpoint, things couldn't be any more different because periods of low volatility and quiet market movement are actually an accumulator's dream because we all know what happens in terms of volatility. Extended periods of contraction tend to lead to explosive periods of expansion and I think we can assert that the more that Bitcoin trades in this sideways, boring range, the more that price action remains boring, the bigger the eventual move is going to be. And although yes, this can be to the downside, long -term volatility compression combined with strong macro catalysts and the upcoming catalysts that we have like the Bitcoin halving could very well lead to upwards expansion. And that's what we're gonna talk about in today's video, the reasons for that expansion and go back to the fundamentals because it's so easy to get swept up with the price of Bitcoin. Oh, you know, Grayscale had an amazing announcement but Bitcoin didn't react. You know, that must mean it's not bullish for Bitcoin. Wrong. Stop associating progress with price because you'll become a much better investor and you'll also be able to actually take advantage of the opportunities that are being presented via the fundamental shifts in Bitcoin's underlying strengths. So let's get straight into it. Just quickly, rapid fire. I'm gonna give away $200 to five people for the SmartX giveaway. So I'm gonna pick five people now randomly and make their names bold. If I choose to make your name bold, you have just won $200. There you go. There you go. I'm gonna look away to make it fair. Four and five. There we go. Number 12, number 14, 17, 23, 30. If your wallet address is highlighted in bold, you are one of the five lucky winners that won $200 thanks to the SmartX giveaway. If you aren't entered into the giveaway, we're gonna run this $200 airdrop for another week. So get involved for next week. All you've got to do is deposit a minimum of $50 worth of liquidity into any of the pools across Arbitrum, Polygon, BNB, or Base. You can also earn some pretty high APRs. Choose which asset you would like to deposit to earn passive income. And also if you enter your wallet address into the link in the description, qualify for the 200 airdrop giveaway. Congratulations if your wallet is there. Let me know in the comments. And obviously we will send you the money over the next 48 hours straight to your wallets. $200 coming your way. Let's get on with the rest of the video. So let's go through these catalysts. Let's go rapid fire. Let's talk about them, talk about the ramifications. And then at the end, I have a take for what all of this means. The first thing that happened recently was Grayscale winning their lawsuit against the SEC. I think this was a very monumental occasion for crypto and not just because we had a company beating the SEC, but because the courts finally acknowledged that the SEC's actions were overzealous. They actually worded the SEC's pursuit of Grayscale as arbitrary and capricious. And I mean, what a strong word, what a strong stance for the court to come out and call the SEC capricious. They essentially debunked the main argument of the SEC's case against Grayscale, which was that Bitcoin due to market manipulation is not an asset conducive to a spot ETF listing. But the courts essentially debunked that entire argument, which was the premise of the SEC's entire case against not only Grayscale, but against other ETF applicants as well. So the precedent it set clearly means the Bitcoin spot ETF has a much higher percentage of getting approved. And I mean straight after this Grayscale victory versus the SEC was announced to the public, we saw the probability of a Bitcoin spot ETF according to Bloomberg analysts increase by 15 % from 60 % to 75%. So it did have a tangible effect on the market. And yes, price did get faded because we're in kind of bearish market conditions, boring market conditions, but it can't be understated enough how bullish this actually is for crypto long -term and how it definitely lends into the favor of the upcoming 10 Bitcoin spot ETFs, which are currently pending approval. We know that the arc deadline is in January and then we know that BlackRock and some of these other big filings, for example, WisdomTree, VanEck and Bitwise are towards the month of March. But in my opinion, if we get one approval, that sets the example that all the others should technically get approved because I doubt the SEC will want to just approve one and then not approve the others. It kind of looks like they're picking favorites, especially if they pick BlackRock over the others. So I think once one is approved, it'll open the flood gates to all the others. And that could happen not just as soon as January, which is the first final deadline, but potentially as soon as the second or the third deadline. Because what you have to realize is, especially in the context of the recent grayscale loss from the SEC's perspective, they're under a lot of pressure at the moment. They're getting clowned in the courts. They're basically losing every case. They lost to XRP. They're having to settle with a lot of other like NFT projects and small projects. Basically, their endeavors aren't working in the court of law because the court system is doing what it's supposed to do, remain objective. And the SEC is doing what it's not supposed to do. And that's being unobjective. And for that reason, they're kind of being backed into a corner right now. And I think the only outcome for this is they're gonna have to buckle and approve a Bitcoin spot ETF. And that's why the probability from analysts is so high now, pushing into the 80 to 90 % range from recent estimates. So we could even see a Bitcoin spot ETF as soon as let's say November or December this year on the best terms, on the worst terms, maybe it's January, February, but we do know it's gonna be within the next four to six months. So if you are bullish on a Bitcoin spot ETF and you believe that it's gonna happen, then you don't need to play like the whole news game. All you need to do is simply accumulate in the lead up to that event. If your strategy is to accumulate Bitcoin long -term and if you believe that the spot Bitcoin ETF is gonna be bullish for the inflows to the market. And look, I do believe that the Bitcoin spot ETF is going to be a substantial cause of new inflows into the market. It's gonna be the first time that institutions are gonna be able to buy Bitcoin and buy it through the proxy of the equities market. The elderly people and retail investors that maybe aren't so well -versed in the crypto exchange sphere, they're also gonna be able to easily buy Bitcoin through the spot ETF. So I think it can't be understated how much of a bullish catalyst this is for crypto, how much of it is priced into the market, that's anyone's guess, but I do think long -term the structural net inflows into the market will be a massive plus for Bitcoin and a massive plus for cryptocurrency, especially if we see like Ethereum filings, for example. And for that reason, I'm extremely bullish on a spot ETF. It's really now just a timeline game. And I think that's the reason why the price hasn't moved because the market doesn't quite know when it's gonna happen. And when the market doesn't know when you see all these games and you see the chop continue into that official announcement. But that can create opportunities, especially on major dips if you believe in that final event. The other thing we saw, because the SEC isn't really being too crypto -friendly, is a lot of other companies throughout 2023 so far, a lot of other countries, sorry, start to accept crypto and start to be more open towards crypto. I think the one that probably stands out the most is Hong Kong, purely just due to China's stance, the Chinese mainland stance towards crypto being so negative in recent times. It was great to see another major Asian nation, especially the one that's so close to China from a political perspective to align with crypto and start accepting it. I think it was a monumental step for the crypto industry as a whole. And not only have we seen positive developments from like Abu Dhabi, UAE, Singapore, Japan, we've also seen great developments from Hong Kong where they officially opened their first crypto trading exchange, where they offered a variety of trading pairs. And I think that's only going to expand in the future. And this does put more pressure on the US because if the US is going to scrutinize crypto and shut down the industry, these players are simply just going to shift offshore to companies that are more accommodating. And I think that's the great part about crypto. It's international, it's borderless. That's the number one benefit of the crypto industry. It enables borderless transactions. It enables the entire world to be linked through a financial ecosystem. And that ecosystem isn't just the USA. So a lot of the time, we get very, very focused on the US and look for good reason because it's such a large percentage of the market. But we have to remember that this is bigger than the USA. This is a worldwide network that can penetrate every border, that can penetrate every country, irrespective of the US trying to claim jurisdiction over crypto. So this is also a positive development, the Hong Kong news. Now, off the back of the Bitcoin spot ETF, we also saw the ETH ETF filings start to happen. We know that ETH futures ETFs have been applied for over the last four to six months, but now we are starting to see concrete spot ETF filings from the likes of ARK Invest and 21 shares alongside Van Eck. So we are seeing the participants starting to pile up for each spot ETF filings. And I only expect over the next few weeks and over the next few months, more institutions start to pile in and file for applications of their own. And this is also extremely bullish for ETH as an asset because if the SEC sets the precedent of Bitcoin being a commodity and Bitcoin being worthy of a spot ETF, who's to say that Ethereum, which has been labeled by a commodity by the CFTC also isn't worthy for a spot ETF. And then that also would pave the way for a bunch of other cryptos to get ETFs as well. So this was a huge development for Ethereum. And once again, price didn't react to the best because of the reasons that I discussed before, the market's boring, the market's probably bearish leaning and it doesn't really wanna react to good news. And there's a few decent reasons for that, but long -term structurally once again, a spot ETF would have huge positive ramifications for the market. And I do believe that we could see more institutions, big institutions start to pile in as well. Remember what happened with the Bitcoin spot ETF. We first saw ARK apply, we first saw the smaller institutions apply and then BlackRock took that momentum and filed for a spot ETF of their own. Could we see a similar thing on ETH? Well, we see ARK, we see 21 shares, we see VanEck apply, we see the smaller institutions apply and then BlackRock comes along a little bit later and they apply as well. I mean, I don't necessarily subscribe to the theory that, oh, just cause ARK filed, it means that BlackRock's gonna file tomorrow. No, I think BlackRock may choose to wait here for a Bitcoin spot ETF approval and it may choose to wait for other institutions to come in and kind of get an SEC green light before it applies. Cause once again, it doesn't wanna ruin its exemplary record when it comes to ETF approvals. But I think the likelihood that BlackRock jumps into ETH eventually is now certainly much higher that it's starting to gain momentum as a trend. So it's something to look out for in the market and obviously it's great for ETH long -term. But yeah, the price once again, didn't react, just like the gray scale announcement got almost instantly faded. We saw the ETH spot ETF result in a huge price pump for Ethereum and then this rally also got faded. The market is the expert of fading pumps at the moment. But the whole point of this video is to teach you to actually detract the price movement from the long -term fundamental catalyst that we see in the market develop over the course of a bear market. In a bull market, good news causes massive price pumps. In a bear market, good news causes, well, price to go sideways or price to even drop. That is a sign of typical bear market conditions. That is a sign of typical market weakness. And even in the early stages of a bull run, if you do wanna say, look, we're heading into the Bitcoin halving, this is an early stage of a new bull run. It's not unusual to see massive, you know, 30, 20, 30, 40 % drawdowns during the early stages and also market shakiness in terms of its reaction to news. So this isn't like a bearish shine. It's not totally indicative of what's happening next just because, you know, it isn't reacting as well as we would like to these announcements. It just shows that in the short term, the market isn't ready yet to get super bullish. So definitely long -term, we are really setting up here with some amazing catalysts and I'm gonna talk about in a minute or two, probably the biggest change that I've seen over the last few days actually that could really affect prices. But we have to remember that every single positive bit of news we get now, every single positive development or announcement we get now is building behind the scenes for what could be an even bigger bull run next time around. And I'm not saying bigger bull run in terms of necessarily percentage growth because we know Bitcoin has diminishing returns, but in terms of sheer dollars in flowing into the cryptocurrency market, I think it's hard to deny at some point that we do see that. And technically that would make it the biggest bull run ever. So that's an amazing thing. So before I get into what could be the biggest change over the last three days, but not many people I've seen talk about it, I just wanna give you a reminder that if you are interested in investing more in this industry and not just in coins, but in unicorns and actual startups and proper companies in this space because you believe in this space and you wanna invest in the picks and shovels behind the space, we have partnered with a company called Link2, which is giving you access to investments that you wouldn't normally be able to access. So typically you would need to spend like over $100 ,000, sometimes $500 ,000 to be qualified as a wholesale investor to access crypto startups and AI startups and tech startups. Now, what you can do is actually invest in them at retail levels. So let's say $5 ,000 minimum investment instead of 100 ,000 and get the same exposure to the big companies that retail is usually priced out of. So just going through their portfolio here, we can see they have a wide array of crypto businesses like Circle, Ripple, Uphold, Itrust, Polisign, Chain Analysis, Copper, Ledger, companies that don't have tokens. But if you believe in the underlying businesses, you can get exposure to them. And if you actually go onto their website and go into link2 .com slash products, you can see all of the products that they've added to their ecosystem. So it's not just crypto products, there's AI products, there's automatic drone products, cybersecurity products, digital assets, fintech, a whole bunch of different sectors that you can explore and invest in if you choose to do so. So if you wanna get involved, there's a link in the description. Once again, I'm not chilling anything, like this is really just a platform that you can just check out, have a look at, see if you like any of the companies. And if you do like some of the companies, you can create an account on the mobile app, as you can see in front of you. And you can start investing today into tech companies and get access to the same investments that the big wholesale traders have been for decades, but retail previously didn't have access to. So I think it's awesome. They're also SEC compliant, so it's not some scam. It's a proper registered fund, you need a KYC. It's a fully regulated operation for, yeah, people that wanna invest more into the industry or into the tech world as a whole. If you're an active investor into tech, I know I personally started my investing journey, not actually through crypto, but through like Apple stock and tech stocks. That's how I originally built up some capital to invest in crypto because yeah, I was more trading equities in the early days. So I'm always a preacher of diversifying your portfolio. I've actually said publicly on Twitter that I own more equities than I do crypto. Can you even believe that? And that's just because I've had years to actually compound these gains. And then eventually it gets to a point where your money's kind of being made for you just by investing in equities and continuing to DCA. And I might do a video on that in the future, but link in the description to the link too. If you do wanna check out some of their investment options, once again, not financial advice in regards to any specific products, you do your own research before you invest in anything of course. But I think it's great that we can give you guys the option to get access to these deals that not everyone can typically get access to. So let's get on with the rest of the video. I said I was gonna talk about a catalyst, which I thought was really, really crucial for crypto. And it's actually this, which Rand did talk about on his show, but I've seen most other channels are completely ignored. And this was the news that they are going to be implementing in fair 2025 value accounting rules for Bitcoin. So let me read through what this means. Under the current practice right now, which doesn't provide clear guidelines on how firms should disclose their crypto holdings, firms treat their crypto as indefinite lived intangible assets, which includes trademarks, copyrights, and other items that are rarely traded. As a result, companies record their crypto at the historical price they paid and review their holdings every quarter for impairments. Holdings are considered impaired even if the price of a crypto falls temporarily during this period. And values can't be upwardly revised if the price recovers. They have to take the lowest price for that time period. Now this has huge ramifications because it can misrepresent their balance sheets in a negative way and under represent the total value of their crypto assets. And this makes it pretty hard for like a big company. Like, you know, think about these big institutions, like the big funds and like your apples, et cetera, to actually hold Bitcoin because they're constantly dealing with potential negative ramifications in terms of how they're going to have to report this, especially for companies with, you know, duty of care to their stakeholders because they are publicly traded. They don't want any sort of, you know, negative reflection back on their books because they invested in crypto and they couldn't report it properly. So there's a big change coming in, which is going to allow fair value accounting for Bitcoin, ETH, and other crypto assets, which essentially will enable you to record gains and losses immediately and classify crypto assets like Bitcoin and Ethereum as true financial assets and not as intangible assets like they previously were, like trademarks, copyrights, et cetera. This is going to take effect in 2025. And I think as a result, many new companies are going to be able to add Bitcoin, Ethereum, and other cryptocurrencies to their balance sheets and not be scared about the misalignment of the previous reporting practices and actually be able to take advantage of the tax benefits for drawdowns and also the reporting benefits when crypto recovers and is performing super well. So I think it actually is very impactful on the market long -term because it's going to enable companies that previously didn't want to invest in crypto to invest in crypto. And you line that up alongside like a Bitcoin spot ETF. And overall, these are really good conditions for like the institutional adoption of crypto. And yes, the prices are moving, I know, but we're just building slowly. We're slowly implementing these rules. We're slowly implementing legislation and it's building really slowly. And yes, we have drawbacks. So we might take, you know, four steps ahead and then two steps back when Gary Gensler does something or sues someone and then three steps ahead and then another two steps back, you know, when there's another kind of regulatory upheaval. But along the way, we get these major wins, which makes crypto more easily adopted to the masses. And at the end of the day, that is the whole vision of cryptocurrency. And that vision is being realized, not just for Bitcoin, but for old coins like Solana, for example, which we saw Visa actually starting to accept USDC payments on the Solana network, which is huge that, you know, they not only chose to use the Solana blockchain, but more importantly, they showed their support for USDC. They're actually backing a stable coin and showing that they believe in stable coins in the ecosystem of cross border payments. I think that's massive for the cryptocurrency industry. And it's also good for Solana. Once again, Solana price didn't move, but it's the same story as this whole video. Another big catalyst we got, and this video is just stacked with good news. It's a happy day. It's OPM day. Smash the like button if you like the optimism, but I think it's genuinely caused to be optimistic some of the developments we had this week. We saw MetaMask announce their recent feature, which is the sell feature. Now, when I first saw this, I made a joke on Twitter, like, oh, you know, we're in a bear market. Now it's easier for people to sell their assets, but having people be more easily able to sell their assets is actually amazing because it's going to incentivize them to on -ramp money when they know that they can off -ramp money. Think about it like this. Remember the Ethereum Shanghai upgrade? Remember how the staking ratio of ETH was like really stagnant and people didn't want to stake? And look at the staking ratio increase that happened post -Shanghai. Why did that happen? Well, it's because people could redeem their Ethereum on the beacon chain. So if they previously deposited, they could then actually get their Ethereum back and they didn't have it locked in the ecosystem. That is an example of people's willingness to deposit when they know that they can withdraw. It's the exact same as MetaMask, where people may be more willing to deposit into crypto if they know they can easily off -ramp because off -ramping is a huge problem right now. Like I've had problems with this in the past. Some of my friends have had problems with this in the past. People in the industry have problems with this all the time. Like, you know, banks being tricky, exchanges being tricky, selling is just sometimes not easy in crypto to get fiat currency. Well, MetaMask is now essentially going to enable you to click sell on your wallet, convert straight to fiat and off -ramp straight to your bank account. That is huge in my opinion. And it also definitely leads the way for people to feel more comfortable transacting into cryptocurrency and not just out of cryptocurrency because they know there's a way out. They know they're not trapped in the ecosystem. So look, I know there was kind of a lot of memes around this and I even joked around it, but you know, actually thinking about this, it is quite bullish I think for the long -term adoption prospects of crypto. Now it's only being piloted at the moment. It's only available in a few jurisdictions, but I expect as this rolls out and as this kind of thing becomes more commonplace amongst crypto wallets and crypto dapps, this is a great precedent for the industry as a whole and undeniably a net positive. So that is kind of my video on the crypto catalyst, specifically 10. We actually did talk about 10, but I just kind of sporadically went through them. 10 catalysts that I think are holding Bitcoin and holding the crypto market in good stead for huge adoption in the future. And look, I know price action is kind of boring right now and I know it's easy to get despondent, but the point I made this video is don't forget where we're headed. Don't let the destination evade you just because the path has become more difficult. Always look at the final destination and then you'll actually be able to get some sleep at night because you're not gonna worry about the chop. We know the market will chop in between, but we know where it's going in the future and that's all we need in order to be successful investors over the long -term. All we need to do is have a long -term approach to crypto. Sure, we have a fun trading in the short -term. Sure, we ape into altcoins and do crazy decentralized shit in the short -term, but long -term, we're actually just prepping our portfolios for what we believe in as a disruptive industry that is really on the precipice of gaining mass adoption. And certainly these catalysts lend pretty well towards that. Talking about mass adoption, we just partnered with a new company on the show, which is offering something that I think is gonna be extremely important for mass adoption and that is storage and actually secure storage for the future of crypto. So Serenity Shield have built an amazing product that is essentially a privacy -preserving application that enables you to store, transfer, and recover confidential data. So you know how LastPass is on centralized servers and you put your passwords in and you put important information in, but you know it's on centralized servers and you know it's not living on the blockchain so you know it's not immutable. Well, they're essentially gonna solve that problem because they're building a permissionless protocol built using smart contracts that allows you to store confidential data, recover confidential data, and has a privacy -preserving element to make sure that you're the only one that sees that data and that data is properly encrypted. Now there's a very cool feature that Strongbox actually has and it's this transfer feature which maybe you don't want to think about, but it's something you should think about and that's inheritance, right? So if something unfortunately happens to you and you've got all this Bitcoin, what happens to that Bitcoin? I mean, there's been many cases of Bitcoin just being completely lost if something happens to someone or even if you're fined and you just misplaced your Bitcoin, there's no direct way for your loved ones, your friends, your family to access those assets. Serenity Shield has essentially come up with the solution to this problem by having a dedicated transfer inheritance built in function from Serenity Shield which enables you to have the peace of mind that your data is going to be safe. It allows you to store your data forever and that's a really important aspect of mass adoption in crypto for the future. It's actually where are people going to store their Bitcoin, their Ethereum? Where are people going to store these assets and keep them safe? And for people that maybe have like family trust, where are they going to store it so they know that it's accessible for family members? Well, this could potentially be the solution. Now their product isn't live yet. They just finished their test net. They're going into main net soon, but in the meantime, they do have a presale. So if you're interested in this kind of concept and you're interested in getting involved, I'll leave a link in the description for the presale where you can get your hands on and I'm not shilling the token. I'm not like necessarily endorsing that you buy the token, do your own research, work out whether it's something you like. I just thought I would let you know and keep you updated that they do have a presale round three for the next two weeks that you can get involved in. If you're interested in this kind of thing and you can see the token price, the vesting terms, the cliff, all that stuff in front of you, but it is going to be the utility token of the ecosystem as well and the subsequent projects that they launch in the ecosystem. But they're building a really cool product and if you want to check it out, there's a link in the description because yeah, I think it's going to be a pretty cool product that I'm going to show you guys on the show and I believe in it as an important piece of infrastructure for the future of crypto ownership and data storage. So thank you to Serenity Shield for sponsoring the show, of course. And if you enjoyed this video, smash the like button, let me know in the comments what your favorite catalyst is from the list of 10 that I read out. It may have been nine, it may have been 11, but hopefully it was 10 and I'll see you in the next video, which is going to be tomorrow. Have a lovely day. Peace out everyone.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1395: BlackRock Bitcoin ETF Will Send BTC to $1,500,000
"In today's show, we're going to be discussing Bitcoin liquidating $23 million in shorts as Bitcoin price tags a new September high. And check this out, Michael Saylor shares three catalysts which will take the Bitcoin price to $5 million per coin. Also quoting Ricardo Stellinas, the third richest man in Mexico, Christine Lagarde is a thief, Jerome Powell is a scammer, and they're pulling off the perfect fraud preach. And quoting Max of Central in South America, also breaking news just in, Turkish crypto exchange CEO sentenced over 11 ,000 years in prison for allegedly stealing $2 billion in customer funds. We'll also be discussing the institutions may be forced to fight over just 5 % of the Bitcoin supply. Can you say incoming? Bitcoin supply shock. We'll also be discussing when will we see a new Bitcoin all -time high? Will it be this year? Will it be 2024, 2025? I'll be breaking this down for you. We'll also be discussing now 10 years later, since the first Bitcoin spot ETF application and still no Bitcoin ETF, when is it likely to finally be approved? We'll also be discussing the largest asset manager in the world, BlackRock and their Bitcoin spot ETF can literally unlock $30 trillion into the crypto market, send in the Bitcoin price parabolic to $1 .5 million per coin. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Yo, what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts .net. Again, that's crypto news alerts .net. So welcome everyone just joining us in the live chat. We're finally back in the green for the Bitcoin market, which is a good sign. Let's kick off today's show with our market watch. But first and foremost, welcome everyone. It's September 8th, 2023. I'm your host JV, and this is pod episode number 1395. As you can see here, we got Bitcoin in the green, trading at roughly 25 ,900 while Ether and BNB are still in the red. And checking out coinmarketcap .com, we're currently sitting just above that trillion dollar milestone, with about 28 billion in volume in the past 24 hours. Bitcoin dominance has been pretty stagnant, currently at 48 .3%, with the Ether dominance at 18 .8%. And checking out the top 100 crypto gainers of the past 24 hours, we have Kronos leading the pack up 3%, trading at 5 .2 cents, followed by XDC up 3%, trading at 5 .6 cents, followed by Stellar Lumens up roughly 2 .5%, trading just above 12 .5 cents. And checking out the top 100 crypto gainers for the past week, I'd say the majority are back in the red, but we do have some pumpers, including XRD now up 8 .1%, following by CRO up 3 .3%. And checking out the crypto greed and fear index, we're currently rated at 46 in fear, yesterday at 41, last week a 40, and last month a 50, which is dead in the middle, neutral. So there you have it. How many of you have been taking advantage of this recent dip? Please do let me know in the comments right down below. And now let's dive into today's Bitcoin technical analysis. If you're just joining us, make sure to say hello in that live chat, and let us know where you're tuning in from. But yeah, let's check out these charts, Bitcoin extended volatility into the September 8th Wall Street Open as a classic short squeeze sparked new September highs, which you can see here in the Bitcoin, one hour candle chart, data from Cointelegraph and TradingView showed Bitcoin price movements liquidated in shorts and longs alike. Bitcoin has seen upside momentum the day prior, culminating in a trip above 26 .4 after the daily close, then a subsequent comedown nonetheless took Bitcoin full circle, and Bitcoin slash USD pair was back under the 26 ,000 mark at this time. Now, some analysts breaking down some of the charts here, such as Jelle says, whoops, let's take out the lows again, then. Hmm. Now the result was punishment for the late traders chasing the market up and down. According to data from CoinGlass, short liquidations total $23 .5 million for yesterday, September 11th. And thus far today, we don't know how long the tally is precisely, but probably even higher. Shorts have got hunted as expected. It's a popular trader scoop, quitting him here. Bitcoin Binance and Bybit open interest shorts got hunted and as expected. Note the over leverage added here, or I'm sorry, open interest added here with a small price reaction and decrease in the per bid delta. This implies that more shorts scaling into the price on the second dive higher. Now, fellow trader Dan Crypto Trades highlighted the significance of reclaiming lost ground from August, quitting him here. Bitcoin was finally able to break above the September monthly open after testing it numerous times. It is now retesting it. The question is, will it provide as much support as it did resistance? It's up to the bulls to try to maintain a green September. Meanwhile, CoinGlass data confirms September tends to produce a Bitcoin price downside of close to 10%, with market expectations skewed approximately for 2023. And quoting another trader, Crypto Tony, he says, nice rally off of 25 .6 range low, but no following through up to the range highs. So again, we're stuck mid range. No entry for me on Bitcoin unless we clear 26 ,600 as outlined here in this chart. Now quoting another analyst, Michal Vendet Pop, he says, technically speaking, we can solely focus on the price action in 2019, but that doesn't grant a clear case. The case in 2015, we can correlate the current market with that cycle, he said in his commentary. And he continued, in that regard, this is the final correction. Let me know if you agree or disagree with the analyst as he outlines here in this chart. He says there is a level in which Bitcoin must hold in order to avoid the significant crash. Bitcoin currently holding onto a significant level of support. It's around the 25 ,500 barrier, which has held up thus far. Do you think we're likely to drop sub 20 ,000? Let me know your honest thoughts in the comments right down below. And now let's break down the latest from Michael Saylor. He recently shared three catalysts, which will take the Bitcoin price to $5 million per coin. Catalyst number one, a spot ETF approval, which he says is inevitable. Number two, banks custody and against Bitcoin as collateral, which is coming soon. And number three, fair value accounting rules from the FASB, which will be approved this week. So there you have it. Very bullish sentiment coming from Mr. Saylor and massive shout out to Ricardo Salinas, the third richest man in Mexico. In this interview, here's what he had to share. Christine Lagarde is a thief and Jerome Powell is a scammer. They're pulling off the perfect fraud. So much respect and shout out to Ricardo Salinas for preaching the facts. And quoting Max Keiser, the high priest of Bitcoin, he says that President Bokele is the Warren Buffett and Elon Musk of Central and South America. And he's turning a $26 billion out of favor of phishing and Pupusa hub with some untapped volcano Bitcoin mining potential into a $300 billion mega success story that's transforming the region. So let's freaking go. Massive shout out to Najib Bokele. And now let's break down our next story of the day and discuss this $2 billion crypto scam. Could you imagine being sentenced to over 11 ,000 years in prison? Do they not understand the average life expectancy of a human being? I mean, who does that? But anyways, this is quite fascinating to say the least. Here's the guy right here, just in Turkish crypto exchange CEO sentenced to 11 ,196 years in prison for allegedly stealing $2 billion in customer funds. This story should have SPF ishing his pants considering SPF with FTX was a $30 billion fraud for Christ's sake. Facts. So yeah, let's break this one down. The former CEO of Turkish crypto exchange Thodex. And let me know if anyone has ever heard of the exchange. I never heard of it until today. The guy's name is Farouk Faith Ozer. He was sentenced to 11 ,196 years in prison by a Turkish court on charges of establishing, managing and being a member of an organization where qualified fraud and laundering of property values. Are you listening to SPF? Now, the ninth high criminal court sentenced him along with his two siblings to the same jail sentence of 11 ,196 years. Good Lord. 10 months and 15 days in prison along with a $5 million fine reported Turkish state run news agency. The Turkish crypto exchange was one of the largest digital asset trading platforms in the country before abruptly imploding in 2021. The exchange halted services on the platform without prior notice. And the founder fled the country along with the user's assets, totaling over $2 billion in crypto. And at the time, he refuted all claims of the possible exit scam. The fugitive founder was finally detained in Albania in August of last year, where he has been serving a jail sentence before he was extradited to Turkey in April of this year on charges of fraud and money laundering. The same charges SPF is against. Now, he was already in jail for failure to submit tax documents since July, while the most recent conviction comes for defrauding customers. The founder of the crypto exchange claimed in court that he and his family are facing injustice. He said that Thodex was a crypto company that went bankrupt and had no criminal intentions. A Google translated version of his court statement read, the following, I am smart enough to manage all institutions in the world. This is evident from the company I founded at the age of 22. If I were to establish a criminal organization, I would not act so amateurishly. The question is that, is it clear that the suspects in the file have been victims for more than two years? So he's allegedly claiming to be a victim. The long drawn out case against the Thodex crypto exchange had 21 defendants, five of whom attended the court hearing in person. The court acquitted 16 defendants of qualified fraud due to the lack of evidence and ordered the release of four defendants. The other defendants in the case received varying degrees of sentences based on their involvement in the crypto fraud. So there you have it. I mean, quite interesting to hear anyone being sentenced for over 11 ,000 years, and especially considering his siblings are also involved. Do you think they're just trying to make an example out of him? I don't know what to really think, honestly, because I don't know the guy. I don't know the exchange. I don't know if he's really innocent. I don't know if it's an attack. But what are your thoughts, fam? Let me know. And at the end of the show, I'll be reading everyone's comments out loud. But it does sadden me. I must say, hearing anyone get sentenced to 11 ,000 years in prison doesn't seem right. If you could only live approximately, what, 80 years, it just is a bunch of nonsense and sounds like they're trying to make an example out of someone. I say, if you want to make an example out of someone, use SPF, the $30 billion fraudster himself. Why don't we start there? You know what I mean? Just saying. Anyways, fam, now let's discuss the potential supply shock incoming as per Invest Answers as institutions fight for the final 5 % of the Bitcoin supply. That's right, citing an infographic from blockchain analytics firm Glassnodes stating that 95 % of the existing supply of Bitcoin has not moved over the past 30 days. Anonymous host of Invest Answers tells his half a million YouTube subs the Bitcoin needs to rally is a buy -side catalyst, quitting him here. Breaking news, 95 % of all the Bitcoin has not moved in the last 30 days. So again, despite the weak market, only 5 % is moving around with 95 % sitting tight. And we know why. But the real magic of this, imagine there is a catalyst and imagine big money wants to jump in and buy a truckload of Bitcoin. The price will just go parabolic. And that's just economics, ladies and gents. This is why I am so obsessed with Bitcoin. It is so scarce. So literally when the big institutions come and they are fighting over that 5 % and all the legacy holders are just sitting there watching anyway, it's a reason to be excited. And the charts don't lie as the HODL waves chart from Glassnodes shares here, literally 95 % of all the Bitcoin has not moved in the past 30 days. So shout out to all my long -term HODLers. The anonymous host also further says that the remaining supply of Bitcoin after accounting for the long -term HODLers and the lost Bitcoin is also yet another bullish indicator, quitting him here. The amount of Bitcoin that is either HODLed or lost or basically has not moved in the last five years is nearly 8 million BTC. That means technically only 11 million or thereabouts have not. And in fact, taking this five -year plus, it doesn't include all the Bitcoin lost over the last five years or less. So we just know it is super scarce. It is question, well, if it is so scarce, is that not bad? No, it is not. It means the price of what's left will go up and it won't take a lot to move it as well. So there you have it. And in this chart by Glassnode, you can see the 8 million Bitcoin HODLed or lost in the past five years, but only 11 million left as the smart money and the whales continue accumulating as they should. So there you have it. Let me know if you feel that Bitcoin supply shock is going to be incoming, this halving coming up in roughly six months, scheduled to be sometime in April 2024. Let me know your honest thoughts in the comments right down below. Now let's discuss our next story of the day and discuss when do you think the Bitcoin price is likely to hit that new all -time high? Well, let's break this down according to Crypto Con, a fellow analyst predicting all -time highs in 2025, which I feel is conservative. I think personally we're likely to smash the 69 ,000 all -time highs sometime next year in 2024. But let me know your thoughts, chat. Now amid debate over the nature of the current Bitcoin four -year price cycle, Crypto Con believes that all may be simpler than many imagine when it comes to how Bitcoin behaves at a given time. Unveiling the November 28th chart on X, he delineated the date of the key pivot point for the year along with a three -week period on either side, quoting him here, using four -year time cycles against my inception. The cycles are centered around the dates of the first halving, November 28th. And he continues, the Bitcoin price action began at the first bottom, October 8th, 2010. This is where cycle curves peak every four years. Tops and bottoms come plus or negative 21 days from November 28th at their appropriate times on the curve. Tops on the upswing, bottoms on the pinnacle. So the chart virtually describes November 28th as Bitcoin date. Bitcoin sees a Bitcoin bull launch every four years. The last was in 2020 when Bitcoin broke beyond his previous all -time high, hitting the current high of 69 ,000, which we did in November of 2021. The next point of interest is thus November 2024. Until then, Bitcoin price action will spend its time in a mid -cycle lull, according to the analysts. After Bitcoin bottoms, the price makes an early first cycle move, which you can see in this chart in the orange and enters into a mid -cycle. This is the longest part of the cycle where Bitcoin spends time around the median price, half of the previous all -time high until the curve bottoms. So ultimately, the median price of the previous high is probably in that $33 ,000 to $34 ,000 range, just FYI. But he did add that Bitcoin had almost certainly seen its early top, referencing the 31 ,800 local highs back from July of this year. Now, as reported by Cointelegraph, opinions on where the Bitcoin price action will go into the 2024 block subsidy having differ from analyst to analyst. Some argue that the modest gains will be all that the hodlers will see before the event scheduled for April of next year, again, roughly six months out. We also have Phil B. Philby, co -founder of trading suite Decent Trader. He delivered a $46 ,000 target for the halving with $36 ,000 slated for year's end. What are your thoughts surrounding these two targets? Do let me know. Meanwhile, CryptoCon summarized that 2023 Bitcoin's price behavior as a full market fake out, putting him here. This makes it appear as if the bull market has begun with the trigger of many signals. But then at some point, the price fails to continue. This is the most convincing example we have seen of this yet. And personally, I think there is still some time to go for that. And I am patiently awaiting its completion in which he shares alongside the Bitcoin one -day candle chart. Now, as we know, we'll see where the Bitcoin price is likely to go next. But now the million dollar question, when are we likely to finally get a Bitcoin ETF spot in the United States as they have been getting denied now consistently for over a decade with the first app being submitted by the Winklevoss twins, owners of the Gemini exchange? Because we all know fact there is a lot of money on the sidelines. In fact, analysts are predicting over 30 trillion will be ushered into the Bitcoin price and the market cap as soon as this does get the approval. But when is the million dollar question? So let's discuss when the spot Bitcoin ETF followed by a prediction of the Bitcoin price soaring 60x from the current price action to one and a half million dollars per coin. Then we'll dive into our live Q &A. So the first spot Bitcoin ETF app was filed in July of 2013, literally over a decade ago. Fam, I'm not exaggerating. It was denied in both 2017 and 2018. A decade has since passed since the initial app. Now the SEC had rejected more than a dozen additional apps and repeatedly punched the date for deciding on others. I'm sorry, punted, meaning they continue to push it back. The ETF saga's latest interaction saw Bitcoin jump more than 6 % as industry advocates celebrated a court ruling that affirmed what we already knew, that the SEC's rejection of the Grayscale ETF app was arbitrary, 100%. This was of course followed by the SEC delaying its decision on all seven pending Bitcoin ETFs and a subsequent price drop. Now we wait as the SEC deliberates on its next move surrounding the Grayscale pleads for approval. Now to a degree, the case for Bitcoin ETF makes sense in the spirit of adoption. The $7 trillion ETF industry is ripe with investors still on the crypto sidelines awaiting for a product that would grant them Bitcoin exposure without having to buy Bitcoin directly and set up a wallet. Plus as a community that's fought long and hard to have digital assets taken seriously, the crypto world is inclined to welcome the validation that the United States ETF would signal. 100%, when are we going to get that? But crypto, Bitcoin especially, is predicated on the need for an alternative financial system, one that enables the financial sovereignty, transparency, and consensus that traditional finance is glaringly lacking. The crypto industry's eagerness for an SEC ETF approval feels like a step backward akin to the American revolutionaries begging parliament to intermediate colonial tax collection and rejection of its imperial rule. And as Michael Saylor points out here in this tweet, BITO had underperformed Bitcoin by 28 % year to date. This is why we need a spot. Bitcoin ETF preach. And again, Michael Saylor says the Bitcoin price can soar to $5 million per coin just on the back of the three catalysts I mentioned earlier. And mainstream adoption is a ubiquitous goal amongst crypto champs. And the SEC sign off on a Bitcoin vehicle that resonates with trade fi is ostensibly a fast track right to it. But fighting for approval from an opaque centralized agency for an intermediated investment product belies our industry's purpose. And frankly, it's unnecessary preach. The irony of cautious investors waiting to buy Bitcoin ETF shares rather than taking the safer route of buying Bitcoin directly is palpable. ETF bears many layers of counterparty risks, including the sponsor custodian and other partners. We saw how catastrophic this type of risk can be to crypto during the latest contagion when customers lost more than $10 billion within months because they trusted third parties. Now, though the contagion appears to have dwindled, the major takeaway remains. If you don't have the private keys to your Bitcoin, your assets aren't in your control, and they may not even exist. Facts, not your keys, not your cheese fam. As we preach here on the channel, those of us who witnessed the fallout up close know this, but investors who have been waiting on the sidelines for the ETF likely do not. It is our job as industry builders and veterans to help the newcomers understand the new degree of security and risk aversion that Bitcoin technology enables. The downside of a spot Bitcoin ETF runs deeper than the conceptual contradiction of the unknowingly purchases of a riskier investment. The potential cost of the crypto movement is immense. Take, for example, BlackRock iShares Bitcoin Trust, the announcement of which drove the Bitcoin price to one -year high in June. However, perhaps blinded by the prospect of monumental institutional inflows, much of the Bitcoin community, myself included, has thrown its support behind BlackRock's iteration of TradeFi 2 .0 haphazardly disguised as Bitcoin conviction, and buried within BlackRock's submission is a clause on hard forks, which you may not know about. Quoting them here, the sponsor use is discretion to determine which network should be considered the appropriate network for the trust purposes, and in doing so may adversely affect the value of the shares. There is no guarantee that the sponsor will choose the digital asset that is ultimately the most valuable fork. The sponsor may also disagree with shareholders, the Bitcoin custodian, and other service providers, the index administrator, crypto exchanges, or other market participants on what is generally accepted as Bitcoin and should therefore be considered Bitcoin for the trust purposes, which may also adversely affect the value of the shares as a token. However, the sponsor uses the consensus mechanism for a protocol that has already been well -defined and battle -tested mechanism. So it's going to be interesting to see how this all plays out for the major institutions around the world. We know the BlackRock track record is literally 575 to one, meaning the SEC have approved 575 ETF requests, and I've only ever denied them of one. The possibility and likelihood of an ETF being approved by BlackRock I'd say is extremely high, but it takes us back to the million -dollar question, when? If I was to put a date on it, I'd say likely. Sometime in 2024, as ETF experts and analysts are currently predicting, including Eric Valchunas, says there is a 95 % chance of a spot ETF being approved in 2024, and I believe he gave it a 75 % chance of still being approved by the next deadline, which is October. Putting on my Nostradamus hat, I think Gary of the SEC are going to likely push back and punt the deadline once again until next year. But that's my two Satoshi's. Let me know your thoughts, fam, in the comments right down below. And now let's break down our final featured story of the day, and that's the BlackRock Bitcoin spot ETF unlocking literally $30 trillion of value into the crypto market cap. That's right. According to Bloomberg, ETF analyst Eric Valchunas' approval of a Bitcoin ETF could potentially be the game changer in unlocking vast reserves of capital for the crypto market. His analysis estimates that $30 trillion worth of assets controlled by the US financial advisors could be funneled into Bitcoin investments if a spot ETF green is signaled by the US SEC. So let's discuss this domino effect of BlackRock's controlling over $9 trillion in assets under management. We all know they submitted their app for the Bitcoin spot ETF last month, significantly shifting the probability landscape. According to Valchunas, the chance of a spot Bitcoin ETF approval soared from only 1 % to over 50 % following BlackRock's involvement. And as I broke it down for you, he's now saying 75 % chance this year and 95 % chance next year. And quoting him here, their application triggered a wave of similar filings by other prominent firms, such as ARK Investment, Valkyrie, and Fidelity, setting the stage for a highly competitive environment. That's right. Now, Fidelity, I believe, is the second largest asset manager in the world that currently controls over $4 trillion in assets under management. And although Bitcoin futures ETFs do exist in the US, they pale in comparison to what a spot ETF can bring to the table. So currently, these futures -based ETF accounts for only about $1 billion in total assets under management. Valchunas describes the approval of a spot Bitcoin ETF as the holy grail that would dwarf the current offerings and galvanize the crypto market like we have never seen before. So send it and let's freaking go. Also, a spot ETF would not only benefit Bitcoin, but also serve as a boost for the rest of the crypto industry, solidifying the assets class position and mainstream finance. And as they say, a rising tide raises all ships, so not only Bitcoin, but the entire crypto market would obviously benefit the approval of a Bitcoin spot. ETF stands on potentially transformative moment for the American market, with at least 10 firms currently in competition, and astronomical sums are at stake. The race is currently heating up. BlackRock haven't already partnered with Coinbase in 2022 to offer institutional clients crypto access to launching its own spot Bitcoin private trust, appearing to be at the vanguard of the financial revolution. So with trillions of dollars in play, the implications for Bitcoin and the broader crypto market are currently colossal. The clock is ticking and the world watches with bated breath as regulatory decisions loom on the horizon. So there you have it. I also want to mention, if you'd like to watch this, Eric Valchunas, the analyst from BlackRock, talking about $30 trillion entering the market upon the approval of an ETF, check the show notes below the video in the description. And I also want to talk about, off of the news, which was shared last year, that BlackRock could team up and partner with Coinbase as a custodial, we had some predictions of a $773 ,000 Bitcoin price. So I'd like to break down the math and where these numbers have come from. So quoting Invest's answers from his forecast, which he made on his channel, that Bitcoin price is going to go parabolic off of this news, quoting him here, if BlackRock were to place just a half a percent of its assets under management, Bitcoin's market cap would be affected by an increase of over a trillion dollars. This would add about $75 ,000 to the Bitcoin price. Bitcoin, which is in the $23 ,000 band at the time he made the prediction, will make its way to about $98 ,000 per coin. This is 326 % more than today's price. And it is very, very achievable. So let's talk about it more long term. So he also stated that if BlackRock stands out with an asset value of $10 trillion, put 1 % of their funds into Bitcoin, the leading crypto would be worth more than $150 ,000 per coin, quoting him again, now if they allocate a 1 % stake, which will of course take time to reach this level, that would add about $2 .1 trillion to the market cap and $150 ,000 to the Bitcoin price. And that would push Bitcoin's future price to $173 ,000 per coin. The profit for Bitcoin here is 652%. And the analysts also stated the Bitcoin can rise to as high as $773 ,000 if BlackRock allocates just a 5 % share. But on the other hand, this estimate can be considered to seem quite maximalist in the current situation. However, according to the crypto analysts, between the next three to five years, the price will be achievable at these levels, quoting him again, if as analyst Dan Tapiero said, they add 5%, which I think is very aggressive, maybe with time, maybe in the next three to five years, it will be possible. This will quite easily push the price of Bitcoin to $773 ,000 per coin in the next three to five years. So there you have it, fam. Let me know if you agree or disagree with the analysts. Do you think the approval of a spot Bitcoin ETF in the US will help usher in literally, literally $30 trillion into the market considering the current Bitcoin market cap is only $500 billion? That's roughly 60x. So if you take today's price of $26 ,000 and times that by 60x, we get above a $1 .5 million Bitcoin price. And don't forget to check out CryptoNewsAlerts .net for the full premium experience with video and to participate in the live Q &A. Thank you.
Crypto Cafe With Randi Zuckerberg
A highlight from What You Need to Know This Week (September 7th)
"Hello and welcome to Crypto Cafe with Randi Zuckerberg, yours truly, where we embrace newcomers and experts alike to all things at the intersection of art, innovation, technology disruption, all those fun, sexy topics. And our new recurring theme of this weekly podcast is what you need to know this week to be informed and up to date in the world of creative innovation. I am joined each week by two of my amazing teammates from HUG, and we break it all down for you and we do it in 10 minutes. At HUG, our mission is to democratize access to art through technology and education. Definitely encourage you to check out thehug .xyz for tons of free resources, inspiration, networking with other artists. So much going on there. All right. We are ready to provide you with what you need to know this week in AI, blockchain, everything changing the landscape. This week, I'm joined in the Crypto Cafe by two HUG contributors, Tina Lindell, marketing manager at HUG, and Michael Liddig, director of creator programming at HUG. First of all, hi, Tina. Welcome to your first time on the show. It's such an honor. I've listened to so many episodes. It feels strange to be on the other side of things. Thank you for having me. Well, I'm delighted. I know you have some great topics to bring to the table this week, so I can't wait to get to them in a sec. And Michael, always such a pleasure to have you back at the table. Thanks, Ozzy. I'm in the background going, Tina, Tina, Tina, Tina, me too. I'm so, so pumped to have you here, Tina. All right. So we got 10 minutes on the clock. So speaking of Tina, let's start with you. I know you brought a topic to the table around Adidas and how big brands are elevating emerging artists. So what intrigued you about that? So big, big news, Adidas has announced their very first digital artist and residency program, aptly named Residency. Stacey King, the Adidas Global Head of Communications and Activations for Adidas, assured that Residency will be explaining how, quote, co -creation and collaboration between artists and brand will work and how those two things will come together. The first two artists and residents they'll be working with are Monkey Moto and Abercundeel, also known as Dear Nostalgia. And this is so exciting to me for the uninitiated. It's worth noting that Adidas as a brand is no stranger to Web3. They've not just been active in blockchain and NFTs, but they have been thriving. Stacey King has established Adidas as a leading ambassador for how brands can expand their offering and potential through new technology. Since launching their three stripe studio for Web3 back in 2022, they've collaborated with Yuga Labs, who's also known as Bored Ape Yacht Club and Punks Comics, and they've even gone on to be leaders in digital fashion through releasing virtual clothing lines. So for almost 75 years, Adidas has proven that it's not just shoes, it's not just clothes, it's culture. And everything they do is ultimately a canvas for culture and culture driven by creatives, by artists. Love it. It's very exciting and it is a reminder that brands are so much more than just commerce. They are lifestyle and have to think about these things. Michael, I'd love to hear some of your thoughts. Yeah, so for me, it's always about a larger trend. And I think the larger trend, which excites me, is putting the creator at the center of creating community amongst these big brands. And so what excites me most about that is I think it democratizes access to these big brands and to artists from around the world who can get an opportunity through this technology, which is really around ownership. Right. So if I think of blockchain, I think about how it's about owning things and they can own their design, but it can also be utilized by a bigger brand and get a bigger platform. So for me, this is like amazing. Adidas is a huge player in the space and I want more, more, more, more. Yes, love it. I agree also, and I think it's a great choice of initial artists for this residency program. I'm excited to see what happens. So, Tina, thanks so much for bringing that topic to the table. I think it definitely sparks a lot of food for thought. On the role of brands and driving culture and art. And I'm excited that all of these worlds are colliding a lot more. All right, Michael, let's go to your topic.
How to Live A Fantastic Life
"75%" Discussed on How to Live A Fantastic Life
"My project, who I've become friends with, but just started out meeting at one of my charity events. He wouldn't be willing to sign that. If I had not behaved myself in a certain way, since the time I first met him, and I met him 14 years ago, 15, 14 or 15 years ago, but it took that long for me to develop with patients and my behavior a bond and a friendship with somebody who is at a different level than I am in Hollywood, but yet when I send him something and say, hey, if I can make this happen, would you want to work with me on this? And he says, sure. Let me sign it. And so I try to take those moments and recognize for myself, I played that one right. And I have more and more of those in the last 15 or 20 years of my life. That's huge. That's huge. Kevin, I have two questions to ask that I'd always have these shows with. Diverse one is, how do you have a fantastic life there's so many answers to that, number one I number one I make sure every day that part of my day includes something that really turns me on. That's number one. And number two, I always sing and laugh. No matter how bad the day is, man, I always find I take a moment in the middle of my day and I make sure I put a song on and especially in the times we leave, it would be my car or anything else, but I always make take a moment to sing and dance by myself. And I always find things in my day, even when I'm by myself, which we are so often these days, I always make sure I laugh, but I, but I do make sure I do at least one thing in my day, no matter how much of the half to in need to we have in our lives, and make sure I spend time doing at least one thing that I love every day. Perfect. Now, the flip side of that is what advice do you have for our listeners to have a fantastic life? I encourage people and I know this comes from my perspective and this would probably bump up a bump up against some folks, but I'm going to say it and I'm going to clarify it in a certain way. I deeply, deeply, deeply encourage you to find something that is very intense and purposeful and purposeful for you and meaningful to you that you want to do with your life..
How to Live A Fantastic Life
"75%" Discussed on How to Live A Fantastic Life
"No matter what. I mean, it could be you and I are facing a great day ahead of us. But there's going to be a gazillion problems that we have to solve. But at the same time, if we don't have that skill set and you get anxious or you get angry or depressed because of those problems, that's half the battle. It is after battle. And the other side of that is, I am someone who will say, I will agree with the fact that money does solve a lot of problems. But of course, we can go down the road of like fixing cars and plumbing and stuff like that. But ironically, it's part of what I'm discussing about where we're living in these times. Money doesn't solve those problems. And actually sometimes to me it compounds them because if you're financially well healed, it sometimes promotes the ability to hide from what is bothering you psychologically, which is ironically pushing you further away from a solution as opposed to getting closer to it. Yeah, that's true. And I think people really need to realize that the problem skill set now you have to develop that you have to keep developing. It's not a to date that gets an ongoing thing that you have to keep on working out. A 100%. And one of the challenges that I've witnessed, we both witnessed it, doctor leica, because we're not young. Is that in the last two decades, since digital technology, which was always coming, we knew that in the 90s, but one of the ways you learn those skill sets is by human engagement. You don't learn those skill sets and again, I respectfully understand the idea of homeschooling. I was bullied every day in high school, so I can appreciate that, but you don't learn skill sets from everything being comfortable..
How to Live A Fantastic Life
"75%" Discussed on How to Live A Fantastic Life
"Entrepreneur CEO and a consultant. Healing from the rural south. He lived and worked for so long at Hollywood that Kevin is often affectionately known and metaphorically called the Hollywood redneck. Kevin is a badass that he trans the general gap providing forward thinking initiative. Welcome, gaba. Thank you very much. I'm tired after that. I feel actually older now. It's amazing when you look at all your accomplishments and all the things you've done. And all the things you're going to do and you just count them off. And say, oh my God, I did all that. It's been a, it's been a minute. It's been a journey since. But I bet you you like at it, and you say, that went very quickly. I mean, it just went so fast. How could this have happened over all those years? Very true, there's a line, there's a line in the movie with Anthony Hopkins called meet the movies meet Joe black. And death is coming to take in. That's essentially what the movie is about. And he has is going to happen on his 65th birthday. And his line in the speech is 65 years. Don't they go by in a blank? Yeah. Very true. Why in the blank? That's amazing. And you know, I met my 65th geared out. So I wonder now how many more years do I have left? And there's probably many. But you just don't know. I've had many dear Friends that have suddenly just whiffed it in a minute. And all of a sudden, they're no longer with us. Yeah, I'm not morbid about it, and I'm not depressed about it. But it is something when I reached specifically when I turned 55 rather than 50. I specifically went, okay, 27 and a half, 27 and a half, 27 and a half. And I said, this officially, you know, healthy balance positive way is the last third chapter of your life. Yeah? Well, let's talk about how you got there. And one of the things you've had to climb through was a mountain of adversity. How did you do that? Because I think people are right now going through adversity and it would help them to.
What Up Patna
"75%" Discussed on What Up Patna
"Jump back pills. I try to once. Yeah ray traded once man traded more than you guys. God i i got next subject with out here. Pundits tells us this this here we go here you penis i gotta ask you. What's your number one beer to go to right now. Okay china okay. I'll pick i whenever in front of me with my first coach. How how matters right now. Ladies gentlemen biggest. What's your what's what's your beer to go to you. Know i normally don't drink beer only making exceptions. One i'm here with my partners. I don't have you know i got a sequel budweiser but lie but more then choose one went like like right. Now let me show you for favorite place homeless ideal home homemade eight but you know what though off check it out and we had a fuck feed him as day right now and we bought the night right now. Ac and you only had one full beard fucking goal was actually called the way hold on auto may be gay soccer home ingrid questions. I'm check all right. he's down. he's down every ladies gentlemen but go ahead. What's your me. Personally i will change Coors original tall botto. 'cause i've always ipod lilo sits bomb but i'll jing whatever you know you do wooster your twenty minutes. You can have a beer. We'll would you want. I'll take those equities right because refreshing. It's so good it's like it's already has a lemon flavor. Mix the end eleven man who asked me linh man well while chela quasi guests mind what shall the mind combat does it can s right. Ooh i'm gonna go for a mini gopher A big bear big bear ford out ten ninety seven percent based joining a heat about to get those die in right now. I want to be seen that. I'm not gonna you're not going to remember. Yeah what happened last live. Yeah what do you make a shirt that says what happened. Last life writes a check. This out folks. i want to say everybody out there. Drinking their beers and enjoying their favorite brews and starting the dialogue. And who's your favorite beer. What's your favorite beer. And who's your favorite brewery. What are you going to do. And why. And why all that. Good shit out. Which is folks. I think it's time for us to say good night and say what up to the out there and leave a little bit of sickness in your ears from bigger for a bigger what game you know coming full back in us. Wanna give a shout out. Saw the listeners all the subscribers all the followers thank you for guys giving all the love and support you bring a said energy that makes us want to make more shows for you guys also to all the guests in the passing michener earlier thinks coming on the show. Thanks giving us that. Motivation keeps in line with keeping us wanted to improve in our craft which is entertain. You guys partners. But where's the wisdom to stay focused of life. Resale yourself every day. Keep yourself allowing your partner's call tech part as much as often because they'll always be have your back but you know what live life to the fullest and stay positive back to you patna. I want to hear from the practice. Lead man saying goodnight to all. The point is out there. Last closing words deny taffer listening. Grab your pundit by the as as what. Everybody needs to get squeezed with sexual misconduct. Squeeze every now in. Make sure you get your gets. I think he's talking about an emotional squeeze squeeze shit about your partner emotionally and from mr wilno homing this live right now is only borrow. Make sure you always call somebody. He always there for somebody squash whatever you got between both view and just keep it piece in though peace and love partners. That's the that's the that's the disavows. Were putting out tonight. I wanna say with up everybody listening. We were not gonna record today but we got it together real quick. We gotta go some run some areas. We had to go to target bed bath and beyond maybe even home depot. Who knows right but we'll be right back and we're going to have a good time in the future put it out dope shoals cool folks and cool guests. I want to say. Thank you for Everyone listening mrs man. Mr bigger missile well-known. Nick lok everyone out. There is welcome to join the doj. Oh anytime hit us up on instagram facebook twitter anytime you want to come by. Listen up hit us up on the on the graham on on the email and what's up by dot com as well. What a pint of dot com. What a pilot dot com. I wanna say thank. Everybody have a good night. What a what a piece..
The Spivey Special Podcast
"75%" Discussed on The Spivey Special Podcast
"Eating seven pizza. I'm sure it's good but that's last online. Just not living. I get it in the morning. Probably twice elite i. Let's talk let's move on from budget pizza and let's talk about what's your favorite pizza place around here. There's a lot of different ones that kinda just feed different ways for you Skip delaney's they throw together really. Good pizza I liked Compels we went to a couple of times out there in roseville. Do a really good job. This really good like dessert. Cal zone thing that just breaks the world on fire. Mary's pizza shack. It's kind of like one of those sleepers now that it is somewhat local now that they have one in roseville kind of like mary's pizza shack but again i think that's just with family memory type thing where you going I'd go to sell st knows. There's one over there in rockland new york style pizza at very very good. I had it in chico. It's like a kind of a local chain really good but it's the best new york style pizza the wing get around here original pizzas really good and roseville. Their whole menu is good with italian food and everything else but really like their pizza there and they have a very good beer selection so awesome and then resigned his which is actually very close to original beats for deep dish pizza. It's probably the best one we have. You do have to wait. Forty five minutes to get your deep dish. So you know it's good to call ahead on that you can call head and tell me you're going to order a deep dish pro move from started here. I now where do you fall like. Let's say you rank roundtable mountain my cero's those kind of pizza joints which ones of those lower tier. I call those middle tier pizzas. You like the best of those. Zeros is the best pizza of that one there. Yeah i deliver their spices to them and they're heavy for one but there's hyphen. They put on it and they are that spices so Like was it like a basil some like that. Toppings are really good. The chris is really good. I really like zero speeds We have a lot of fond memories of going there and playing mortal kombat and nba. Jim grew up right down the street from their roundtables good i think tables breadsticks or their pizza twists or whatever. Those things are banned tastic out. Eat those all day. Pizza's obviously good. But it's like thirty bucks for a large pizza. I'd rather have five large pizzas domino's app. It's not that much better or papa. Murphy's finally now is just feels fresh in mala. Mike is very good They're pepperoni pizzas. Probably my favorite of any Pizzas i'd agree with that. I love their their pepperoni is fantastic. They give you a ton of them now. I think a sleeper is checking cheese. People sleep on shaky cheese. But i don't think that i think they should sleep on shaggy cheese terrible. You know you can get that for door dash. I did know that we would cheeses like a hot circle of garbage to quote kevin from the office. Wasn't your dr burst. fourth birthday. The pizza bomb. I'd like tin slices. I don't know about really good combo they threw together. The rat made it. But i think you're miss remembering all right. Try pick one fictional character to eat pizza with. I'm just going to eat. It's going to be a force on that. I'm bringing with teenage mutant. Ninja turtles feel like that's just the smartest move her. They would know pizza better than anyone. Fictitiously i'd wanna go with the guys from the office and eat it l. Fritos pizza cafe. Or whatever. The good one is i was mixed the two on this. Would you rather have traditional a medium amount of good pizza or an unlimited amount of pretty good pizzas a medium amount of i. Let's talk about waffle pizza. Dippers more can you find those will you can find our website. It'll spivey special not anymore. Just kidding i'm so good with our social media website. Stuff it's ridiculous. The website is no more. Unfortunately we had a good run and again. We're we made waffle. Dippers were basically waffles pepperoni and cheese in the middle and we dipped them in different things syrup. Marinara sauce all the things. I thought they were pretty good. One of those sweet sour type things not sour sweet and savory really good one of the ones when we made we went to our little rana making food sandwiched between two waffles. Right in the wall plane. Go back and listen to the episode or you can check it out to page also knows a fun really healthy actually appropriate way to eat a slice of pizza. Use your hands nine thousand four because just just weird i mean even if a deep dish you just gotta go with your hands and then i know it's probably bad etiquette. You can just pick up all the top with your hands. Doesn't there's no reason for a fork. That's a waste. You're not doing it right now. You can fold it in half. That's the proper way to eat pizza if it's not capable of doing that because it's either too crispy or there's just too many toppings to properly in half then heart-to-heart isn't strong enough to hold as many as you put on trade best beverage to go with your pizza. What are you ordering at the pizza place if we're there when you can have a beer before and after my biden like drink beers one having eating my pizza shaw probably get like a sprite. I think the sprite. No no it is. The carbonation kind makes the pizza tastes better. I think you're gonna like diet pepsi or something like that or surge. Those are the two things that i associate with being pizza. Not bad either. Though now news. Not bad i just like the illusion of having a diet soda just thinking i can eat more pizza. I don't really drink soda and it does something to expand your stomach that allows you to eat more pizza. I don't know what is some sort of weird pizza eating magic lubes up the pipes. Your witch. Pizza joint has the best breadsticks. You mentioned it Roundtable has some good ones on mountain. Mike's those i just.
Fallacious Trump
"75%" Discussed on Fallacious Trump
"Because i was the tail end pre covid of a record one hundred eleven month. Increase in labor mock. Wow and so in the thirty six months before trump took office in alabama's last three years the us economy added more than eight million jobs so so adding seven million in his first is is unsurprising. Not that big a deal. Exactly what you would have expected from looking at the graph and assuming he didn't fuck up enormously nothing to do with absolutely. Yeah and it's not in the midst of this is towards the end of yes. Something has been happening for. Ten years is very much going in the other direction now yes not least because of covid but also because of his bones case yeah lack of intervention so we cherish. Yeah fuck old about it. Yeah yeah actively scam mongering and pedaling. Miracle kiss thac. Yeah raiders made win again. Yeah this this time. Sadly that right so you'll school now. It's down to thirty out of sixty five. Which is forty six percent. They say yeah as well. It's getting worse because you've lost last couple. That's how that s despite the prize winners yea recall any of their names now. That was if you win. Then they'll go up so that's how that works there you go. That's how that works. Yes right now that you know we stick chooses..
Fallacious Trump
"75%" Discussed on Fallacious Trump
"I'm really trying to do this on a might make some missteps along the way you say that you have that kind of sounds bit more biden esque but that he doesn't eat just goes no raise some of our photographic sidekicks. Oh you know celebrate. Black people know that's yeah. It's it's deeply troubling staff as a product of white privilege in very high and is what we're trying to say so. Yeah so the point. I guess making in that is just to say we all trying to be good allies and if there is anything that we have said all say any point the people think we are we could have voted differently. Will better all whatever do. Please let us know because we want to try to be good allies. Do better and do the right thing so so we are absolutely open to having any kind of conversation so please. We recognized that. This is a conversation that we are. only on. the periphery of. But we're still kind of trying to to to have it. I'll finally example in. The station is from the woody allen film sleeper one of the funny ones the white privilege and and this is a completely non non-racist example. What happened to we're all my friends. You must understand that everyone you know. The past has been dead nearly two hundred years the all eight organic race. So in in sleeper woody allen's current models has been cryogenically frozen basically two hundred years later. So yeah everyone. He knows that and the suggestion that they call me. Ted's off to two hundred years. They took it rice kind of is on using it. As an example of people claiming there being healthy or or expecting to live a long time or being able to get away with otherwise unhealthy things because they do one thing. 'cause they do i mean and miles in this scene isn't claiming that's all his friends did but it's it's kind of representation. Because he ran he ran a health food store yet and in and in the future found all of the health food is actually day..
Fallacious Trump
"75%" Discussed on Fallacious Trump
"The label and also diversity though is not the same you know because only precipitator and billionaire richie soon neck represented the fda not communicate communities and given the fact that of the beer may households live in poverty and pretty patel's lesson inclusive us about black lives matter protests. How diverse is thought so yet really how can white slash asian oxbridge educated and billionaires share thoughts of the lived experience of someone with black african or caribbean heritage. Especially post win rush. This is a year after the wind. Rush scandal writing in the independent at the time and pre vertigo pal said like all buzzwords diversity has several uses deployed it can transform shamefully homogeneous institutions for the better however it can be used as a form of nonsensical virtue signaling that changes very little whereas spoof reporter implies simply said this. Our new prime minister is the embodiment of inequality. You can't hide that by putting a couple of right-wing shitheads you happen to have brown skin into your cabinet. So horrific for diversity brilliant. This government has more rich hard winemakers of color than ever before the cassette issue. They got is the trying to promote this hostile environment. And you know if if if it had a little bit of self-awareness even such avid had some self awareness. They would say what you're trying to do. Is brown washed the problem. You'll buell literally put me up in the front. This thing to say there is no such thing as hostile environment and yet they put in place in order to woo the right wing white votes that were going off to you. Keep and the far right parties and they've been very successful in doing that. Despite the fact that they put pretty patel in or read the other day somebody somebody just called printer because they because they must be terribly conflicted and we talked about it before because she is agency. Second generation asian age of her parents came over to britain from india. Possibly and yet. She's the one of the fall right because she's anti immigration so they must be clear. Her policies would have prevented her own parents from. Yes he's only managed inaugurates. Yeah and that's not the first time that that's happened in the tory. Quick fact check you mentioned she Her parents migrated from india head grandparents. Who poona india but then immigration emigrated to uganda where apparently then series and then emigrated from there in the sixties to half a chair. Choose said raw with sony. Shane straw the holiest day with.
Fallacious Trump
"75%" Discussed on Fallacious Trump
"Background. The chance they exchequer the home secretary to name brought to. I'm talking about black people specifically. Because i do think it's quite important not to lump everyone from non white backgrounds together because obviously asian people for example face prejudice to you but it might be different prejudice to that faced by black people sixty two percent for example of jesus people's from indian backgrounds strong parts an english mass twenty seven percent black caribbean. You're three times as likely to be stopped and searched if you're black than if you're asian so that's why i was specifically asking about how many black people there are in the current cabinet. Well the to have sat in with Boris johnson is prime minister all the two most diverse cabinets. I've ever sat. well. I think the boris johnson has got a very good record on this and it brings people in an listens to a diversity of views and its diversity of thought. That's the really important thing when you taking those big decisions around the cabinet table saying that people from black background shouldn't really worry that there aren't any. There isn't a single person from that background at the cabinet table because he thought yeah several diverse thoughts in their this first one. There's a whole series of people. How many black people in the cabinet was the whole series of people from black and ethnic minority community with know the whole series. Do yeah because there are only two and neither of them were black. So and then he goes onto mall tokenism. This is the most diverse two of the most diverse cabinet. I've ever seen it doesn't say much. The tory party's existed for hundred twenty years. Something like that and this is these are the most diverse get. Some of my cabinets are very diverse. Doesn't actually say much for previous cabinets and know. Boris johnson does not have a good record on this talk about us. So we've seen to even say it's it's like yeah. I understand why he felt the need to lie when questioned whether people would for by but then to go that far and suggest that. Boris has a good rick record. Why out there. Who who is he. Appealing to hang. Engine yeah i mean the thing about sophie. Virginia question is is really well thought out. Well put because it just kind of goodwill. It isn't about you just because you've got to a people of beim group and in fact the the contribution gladly to the problem of institutional racism racism which the government report says the risen on. What they what they did was do away with the description of blackened ethic just did away with that. You can't have now that they've done away with it because that's the problem that's the equivalent of you know that problem with the brakes in the car. Where the like. He's coming on to indicate the break. We'll fix it. We'll fix it we'll just typed over it. That's the problem is still there. They've just taken away..
Fallacious Trump
"75%" Discussed on Fallacious Trump
"Yeah yeah yeah. Yeah 'cause 'cause the thing is the fact that the black man in his crowd stood out is yeah is testament to what the problem was. So an isn't tokenism. If you make a concerted effort to be inclusive and diverse as part as a policy and even if you point that out and say well this is part of our policies that i mean. It's yeah it's it's okay to talk about. How how you make sure that you are open diverse. That's fine but the thing where you know. People who aren't racist don't tend to feel the need to constantly points out how they're not racist. Yes yes you said the racist but like ends to be followed by. I'm not favorites is actually made me. Think of the this. Some how there's a kind of tokenism going on with the black lives matter and then white people say well. No all lives matter. That's something in there. There's the feels like it comes from the so you mean wait. Yeah people who will lives matter in that context arguably a trying to reduce black people to to a token in that in the Fear of lives that matter because the conversation. We're trying to have at that point. Isabel the whole thing about police. Brutality and black lives young so by by saying well. Yeah but that's only a part of the whole conversation cutting sideline yes reduces it to what you and also points the finger of will your just being tokenistic. If you'll just sign the black lives matter. No no they all met yeah. It does cooler attention to your racism in a way and there was in a hearing. Wet trump had recently been called racist mark meadows. Who became his chief of staff. I didn't think he was chief of staff at the time Tried to argue against this. By bringing lynn pattern a black member of of trump's staff yup to stand behind him while he talks about how not racist term is because of the the full massive. The hearing she wasn't allowed to talk it was just. That is the rules of the committee. There's yes they they couldn't bring someone else in to give evidence but she was kinda cooled into just stand there while mountain meadows talked about her and said you know she wouldn't work for a racist at which point the person who was who was at the in fact it was michael cohen. Who was being questioned at. The time had called racist and he said okay. Well i'd like you to do is ask lynn pattern. When she was working at the trump organization how many black executives they were. Yeah yeah and. I think it was related to leave. Who then accused of being racist because he brought out a includes as i think she actually said it token black woman to to make the point of trump not being racist and he was upset about that because he said i'm hoping he's this reminds me of when a boras did some campaigning..
Special Conditions - A Pokémon TCG Podcast
"75%" Discussed on Special Conditions - A Pokémon TCG Podcast
"To be honest with you The lured up Family of of shows discord being one of them and like between my time on twitter and pokemon go and just work and Having many kids and being busy at all times and doing another podcast. And like every time i think about checking discord feels like something distracts me from checking discord. I wish i had more time. To spend on dischord i really do. I can try to make an effort since people now are like emailing asking me to be on scored. I feel like now. I need to make a conscious effort to to to put more time into that. I will do my best. No promises i promise. It has nothing to do with me. Being an old grumpy man telling people to get off my porch or get off my lawn them. I'm i am fully capable of using discord. I just don't have time for. But like i get notifications so like if i'm ever like directly added for mentioned like i will see the notification so like adam uses it every once in awhile and adam. You're so silly like you know. Whatever you're telling me in dischord is not actually important. But i appreciate nonetheless Like if you ever like really honestly like need to like seven me. That's that's the best way to do it. Night will pop into discordance. See what you're saying. So it's so hard to keep up with everything man it really is. Yeah you're telling me. I just realized that i haven't posted a video of me. Opening up a pack of cards which. I told myself that i was going to do every single day. I have the videos recorded. I just had posted him and here we are now. It's the next day the now. I've gotta get three out what day it happens. But thank you justin. I know adam lows hanging out with you and i promise i will make a better efforts to be present in discord just a little bit more. That's fair that's fair. That's all the deals. We got this this week adam. Excellent well. I hope you enjoyed the show. Josh i did. Did you have a good time. I always have a good time. That's why come back every week man. Yeah right now and you got to. You got the picture of the glaring me i did. Yes it looks good. How cool is that. It's really cool. I will say when you said what you got. I know you said galeria n- but in my head a low lince or is expecting the blue cat so when that showed up on my. That's not what i was expecting to see. There's too many different styles as well saying yes. I totally agree with you. Don't worry this. This one doesn't evolve into persian. Pulsa do Right all right if you wanna be like all of these other awesome trainers email us info at special.
Special Conditions - A Pokémon TCG Podcast
"75%" Discussed on Special Conditions - A Pokémon TCG Podcast
"Then i listen every day to another everyday listeners. When you put more episodes out at adam they're going to run out. Yeah all right we. We're gonna do this. We all right brought to make us the daily show It is very entertaining. I learn a lot even when i don't always know about which pokemon you're talking about because of the different names. Oh okay for example. Charred gourock At the moment. I'm trying to build a mu v deck with star you supporter. But i can't get it rolling consistent any ideas you're interested. You can find the deck list at the bottom of the email however. I'm a little frustrated frustrated. Because i have the feeling that the same decks win it makes no sense to come up with one of my own is like you have a complete solution for a game always in front of you but you want to figure out the next level by yourself. What do you think that Sorry for the long email in english. Thanks for the most professional p. c. p. papa pt cg podcast English totally great. Don't even worry about it long email. It's us that's missing at the. We often english as you could tell absolute so just just re listened to the beginning of the podcast my goodness about what massacre so i've always found excitement and comfort in building decks myself. It doesn't always work and it depends on what you're trying to accomplish right. If you are trying to be topped two fifty six in the players cup for north america you kind of have to play one of the top tier decks to almost guarantee you get some points but if you're trying to be like casual and play the game for fun because that's technically what it's all about. Play that rogue deck. That's that's my i. I have no brighter memory about playing this game than the time that i took. Grump pig from crystal guardians and mismanages diamond-and-pearl Lumine from mysterious treasure patrie shoe from great encounters as well as toro's from accuracy guardians and then with like a for like consistency in draw. It was a to create a line. I played four corners style deck..
Special Conditions - A Pokémon TCG Podcast
"75%" Discussed on Special Conditions - A Pokémon TCG Podcast
"How that's fantastic. Any attached cards damage counters. Special conditions turns and play in any other effects. Remain on the new pokemon. So with that with with that's basically saying is like if it was affected by special condition it would still have that special condition on it. Okay if it if it was affected by an attack that said like oh that that pokemon can attack next just because you switched it with like the ditto. V to whatever center scorch. It's still that technically that same pokemon so you can't attack I guess the Jacks move workers like it basically says on your opponents end of your opponents next turn if that pokemon still active it gets knocked out and you like swapped or something like that it would still affect it in the same way I think i'm confused by what this is actually doing. So did lovie is essentially any v. Pok mon that's just how so you could play you know your professors research describe hand of hypothetically. Let's say you get rid of eternity set to scorch and oh okay okay. I understand from your discard pile. So it's from okay. That's a big deal. Oh now you can swap that with any of those. Oh matchup he could switch things up. Gotcha okay i was like what like switching pokemon but it still has the same effects and everything on it still gets dumb but if you've already lost it is in your discard pile. Poon back in action. Well this to you could switch. This would like willard v so this has got damaged. Like oh i don't want that to get knocked out. You switch it with like a whale. Lord then all of a sudden you got two hundred and eighty hip points him saying yeah totally. I'm on the same page now. I had to reread it with you. Explain it for me to fully understand. Yeah so to see this. I mean you could always a lotta decks This being one of just just to allow that fifth the pokemon like consistency was key. And you needed five of that pokemon but can only run for you. Run a ditto. So if one gets knocked out you're just like a boom ditto and swap it out for that pokemon on the discard has ever been a popular card to us. Yeah ditto was awesome in the last format because they had ditto prism storrow right. We talked about remember that one that could evolve into quagmires to see king nine tails any stage. One ditto the really big seriously. I mean the regular version. Let's the set. He's basically doing like an uppercut which looks pretty cool but the shiny ditto literally doesn't compare. It's it's so good it's so gorgeous shiny it's beautiful. It's a beautiful card. It sounds super Effective as a as a played card so super excited. How many would you have in your deck. If you're playing with it just one depends. Depends on the deck. But i could see myself playing one and like you could even run like three of another like you could run a three three knit line of whatever you're using because if you start with a ditto you can always just discard the other one and then just walk them out I don't know. I think it's got some potential who's gonna make like the craziest deck with it right cool. It's all about that about that. Transformation the transfer of of of of all right. Let's let's get into our team comics opening. Okay well.
Special Conditions - A Pokémon TCG Podcast
"75%" Discussed on Special Conditions - A Pokémon TCG Podcast
"A t h z. It felt like it started off really solid then just realized that like the much garbage in it. But i think it's because we didn't have any of the cards so like anything felt cool. Like pulling macario. V fell cool. But then it was just like. There's only like a handful of vis-a-vis maxes whitener g milo turf. Field stadium victoria. Any proline glaring loon sizzle. He'd tina nicot a reverse hollow fighting energy and much camp so why not All right it's my turn to redeem this. Yeah i mean Shining fates code b six v nine d. z. w. h. g. h. q. Z good luck at all right psychic energy elda gas dr tricks kramer at coupon groupie weasel yama shanks reverse hollow spinner ac in a croat. The hey okay all right. I don't have that it's not shiny or anything it's just a of the sure. Don't get too excited all right next. Pack wow i completely destroyed that pack code card be wbz cousy t m w n two h z. Be good luck good luck. Good luck grass energy. Looks you ball guy. Tropes weasel nicot khakassia coupon evey. Shiny galeria meows nice. Not his thing looks insane and then a lie. Sander bosses orders. Okay nice you guys. Shining there we go. We gotta shiny that we were going to just have just a horrible night of opening guards so you redeemed it for everybody out there. I had to do something somebody add to wasn't going to be me with champions path. I mean i know exactly what you mean. Cool congratulations thank you. I just sent you the picture. Good luck on the codes. Everyone share take maybe one now all three whatever. Yeah it's okay. We'll be giving away more all right. Regina jump into what we're gonna make a splash into the art of the week. Okay let's do all right. We've got clamped pearl this week. Yes.
Special Conditions - A Pokémon TCG Podcast
"75%" Discussed on Special Conditions - A Pokémon TCG Podcast
"And then i got the crummy hyper. Wow okay okay like absolutely insane opening and then played some pto after that but thank you to anybody that hung out in the stream. It was an awesome time. Sounds like a yeah shining fates men you love it I am and i apologize to anybody that hasn't been able to find any i just. I wish i hope that you can find them. It's yeah. I know that without a doubt pokemon is doing everything in their power to make sure that this gets into the hands of everyone watching watching The wasi plays whatever Pity go radio he has. He's an awesome video. That kind of explains what's going on and that pokemon in order to make sure that they headed a successful release. All the product got flow like some of the product at flown which is everything was allocated But there's a boat. Which is the cheaper shipping option and they can hold a lot more that is coming over with tons of product. So i think between in the coming weeks. And i think we'll see a lot more on the shelves won't stop people from buying it all right right. We'll see a lot more. How long will be on the show. So you know i will tell you. Add them like. I know you keep saying this is an amazing set and how much i love it and i and i understand where you're coming from with it and not going. Why scrolling on twitter First thing friday morning. Like i had that brief little little hint of fomo like seeing everybody opening them and getting excited about him but like just thinking about how. There's just nothing in stores and worrying about which preorders may or may not happen or trying to track down something that's like a retail price at not scalper price in. I just also we love being completely stressed for not even worrying about the set or you know eighty cards for that matter. But there's a huge cut here adam. I got an email yesterday. Apparently.
Special Conditions - A Pokémon TCG Podcast
"75%" Discussed on Special Conditions - A Pokémon TCG Podcast
"Twenty second two thousand twenty one on one of your adam tuttle who keeps messing up the whole interesting. But i'm joined by. My co. host says always josh brown. What's good seventy five episodes and we still can't get it right adam. That's what people come here to see or hear right. Yeah that's true. I'm doing good how are you. I'm doing fabulous fantastic. I'm exhausted per usual i. Why don't you so exhausted. Because i travelled all over kanto for twelve hours on saturday and boy are my legs tired. Oh my goodness you're playing pokemon go will. Can you believe it. it's crazy. I know Yeah what incredible. Incredible event in the pokemon. It was a good event I just happened to be working. Yeah suck for you. But the music who the melodies just all my targeted on once listen to it. I'm like that's great. But i don't wanna keep listening to it so i immediately muted it once again because volume. Sliders them all right. That's not how you're supposed to play the game. What quietly you're supposed to keep it. I had mine even at work now..
The Worldshapers
"75%" Discussed on The Worldshapers
"And do the or whatever and then have a few hours and i would put in writing Once got visa that allowed me to work that change then you find yourself sort of scrambling and scratching for reading time a lot more In the last couple of months. I'm we've all been locked in with the pandemic. It's actually been a lot easier so my daughter now online at school so once i get her set up in the morning i mean i have a couple of hours just just to rate So it's actually been the last six months or so. It's actually been relatively easy right. You just get up you take your have some basic chores and emmaus workin you get everyone fed and then and then you right on for a couple of hours until you get tired Particularly over the christmas holidays. I've just it's been very easy. Get up in the morning. Start writing on the novel. Did you write a quite sequentially started at the beginning kept pressing through until you got to the end. You mentioned that halfway through you had to kind of reevaluate. but you didn't sequentially. Yeah i do. i don't i don't know what it means but i'm the novel i'm working on now again. Just i just start at the beginning and start writing. And i mean obviously at a certain point you gotta go back and reevaluate rethink it me structure and you never know how much of it you're gonna have to destroy But yeah. I ate a b. to see basically how i proceed or of your people who write Working do scenes and stitch them all together later but most people. I think find it easier to just tell the story in that worry about fixing it later. Yeah and i every once in a while. If i'm if i'm feeling stock i might jump ahead. Write and go well okay. I know this. I know this once team has to happen later. I'm going to flesh out at least and maybe that will help me and go back. But in general yeah. It's just full steam ahead. I'm trying to get to the end. Are you a fast writer. Or.