35 Burst results for "At Least $ 10 Million"
"at least $ 10 million" Discussed on What Bitcoin Did
"And literally tomorrow. He's gone. I mean, yes. And, you know, it's so interesting is in the beginning he was he was he was a gold bug and he was somebody who really helped me understand the Austrian school in application and what went wrong with it. But so he hated Bitcoin in the beginning, just hated it. And then and then a few of us were able to orange pill him. And now he's you know, he actually this is going to sound a bit strange, but he's a deeply religious person. He thinks Bitcoin was divinely sent. And we don't know who Satoshi is because these are just it was just one of the miracles of of life. And I respect that. And I love that he thinks that because he might be right. And but the point is that that's how far he's gone down the orange pill rabbit hole on. Right. Yeah, 100 percent. Right. And I don't think he sold all of his gold, but he's he's definitely a real assets kind of kind of guy and understands that this is the fallback. And he's absolutely right. Bitcoin is the fallback. And a lot of a lot of folks own it for that reason, that it's insurance against the collapse of the of the system. But if we could step back, why? So why am I building a bank in the middle of all of that conversation that I just laid out? Well, you can see where I'm coming out on this. I don't think the banking system is stable, but I also don't think it's going away tomorrow. So sorry, Jeff, I'm probably you're probably cringing as you're listening to this. So if if the traditional financial system is not going away tomorrow, then those two financial systems need to coexist. And how do we create a bridge where they don't hurt each other? And what I'm talking about here is the Bitcoin financial system and the U.S. dollar financial system, traditional financial systems with fiat currencies all included. And so the point is, how do you create a way with a very different settlement characteristics of these two systems that they don't hurt each other? And last year they both hurt each other. And it really pained me because I was watching it and it was pretty obvious that the banks that were servicing the crypto industry were were doing too much maturity transformation. I mentioned on stage with you yesterday, Silvergate had 10 cents of demand deposits in cash as of last summer. And so when 10 percent of its depositors showed up, then then the liquidity was gone and then they had to go to their backup liquidity and they had to start selling bonds at a loss. Now, to Alan Lane's credit, that bank did not actually fail. They chose to liquidate it. So he did. He paid all his depositors back and his shareholders are going to get something back as well. That tells you that was better managed than Silicon Valley Bank was. But but it wasn't managed for the reality of what we're living in, which is that money is just moving faster. And this new technology, even for the U.S. dollar, is going to cause a lot faster bank runs and and the banks are just not set up for that. And I do worry about it. Well, I've told you this before. I think I said to you on stage yesterday, I don't keep much money in my personal bank account. Yep. I do have to keep my tax buy. So any any savings goes into Bitcoin. Yeah. And I keep I keep enough credit in my account for the next three months. So if anything disastrous should happen, we're fine. But I do have to work in capital. Yeah. But I do have a vault with the bank where every month when I pay it, get paid, I put my tax buy. So when my tax is due, I can just pay it off. That grows up to a decent sized amount. I can't do the same with the business. The reason I can't do the same with the business is I can't have Bitcoin volatility risk when I have to pay everyone's salaries. And, you know, we've got seven, eight people who work across the podcast in the event. Amazing things. So that account can fluctuate anything from 100,000 to 600,000 because of the cycle of when we get paid. I would much I have far more interest in having a bank account which I pay for, which acts like a vault and stores my money and has no risk. I would pay for that service as if I had to choose between that or a bank that offered me a low interest rate. I'm not here for the interest rate. We we make money making content. Of course. Yes. And so I don't need to I don't need an interest rate. I just want a bank where I know where my money's in is there an interest rate in an inflationary environment? Well, yes. Yes, you do. But what I'm saying is that's not my primary concern. That's not your business. I'm not I'm not looking for operating cash flows, not financial cash flows. I'm looking for if there is another financial crisis, because a financial crisis is likely a banking crisis. Correct. Always. Yes. And I know our equivalent of the FDIC ensures up to 80, 90,000. That could collapse our business. If I'd lost. Of course it could. Yeah, I could maybe not. I could make payroll one month and not the next month. Yeah. I don't want that risk. Right. I want. So this is why when you've told me about what you're doing with Custodia, I'm like, okay, well, I need that in the UK. We don't have that. I think our banks are a little bit more responsible. And I think our central bank's a little bit more responsible. But I still don't want the risk because there would be a contagion anyway. We had the contagion. We had the contagion in 2008. The government had to take over the Bank of Scotland and Lloyds. So I want a service like this, and I don't understand why more people aren't doing it. Well, to give you some perspective, the community banks had eight cents in cash for their demand deposits and everybody was rushing to the large banks, the money center and GCIB banks. They had 12 cents in cash, right? It's not that different to your point, right? It's in a crisis, none of in a true crisis, none of them, none of them survive. But you're absolutely right. This happened to a lot of Silicon Valley tech companies. They were so focused on building their business. They forgot to do the counterparty credit risk analysis of their own bank. Did they even know they needed to? Well, anybody who studied economics or finance in school understands how fractional reserve banking works and should understand that it's fundamentally unstable because there's always a point at which any bank that is leveraged like that could fail. But I don't want to put my name to that, right? So here's the funny thing, right? You talked about the central bank in England, the Bank of England just came out with a paper last week about stablecoins and they're requiring pound sterling stablecoin issuers to be banks that hold their reserves in central bank accounts. Now, banks are defined a little bit differently in the UK. There are true depository institutions and then the UK also has these e-money businesses. But ultimately it has to be a payments regulated business and the reserves have to be held one for one at the central bank and there's no interest going to be paid is the recommendation from the Bank of England. This is, it sounds great. It's exactly what you're looking for, right? You can just keep your payroll cash and your tax cash in a stablecoin and not have to worry about your bank going bust. Well, the Fed called that very business model unsafe and unsound in January. Why? Why did they say it? Is it safe and unsound because of what they've built already and they know that will collapse everything else? Or did they have a reason, even though you can call bullshit on it, did they have a reason? Oh, well, they had an 86 page order explaining the reasons why it was unsafe and unsound. By the way, the longest ever Fed denial prior to that, to our denial was three pages. Okay. So they, they, they came at us so over the top that, and what's funny is the world figured that out. And, and within literally within a couple of weeks, I got a call from American banker asking if I would accept a nomination for being innovator of the year. And they ended up giving me that award. Thank God. And, and, and multiple awards have come my way because people understood we got, we both custodian and the state of Wyoming got really screwed by the Fed. Okay. So we understand, like people understood that, that I would say it's, it's 95, five, the people who looked at what happened and said, all right, they, you know, it's off percent protest too much. They went so far over the top. But what were they, what were they getting at? Some would argue that, that your, the question is, is right, that, that they were so afraid of a bank that wasn't going to lend and, and calling that unsafe and unsound, whereas a traditional lending bank, which we all look at and say, well, of course there's a point at which every bank that does fractional reserve banking has a risk of failure and, and that's unsafe and unsound. So I, you know, I, they didn't say that in the 86 page order, but, um, What was their key point? Everything else. What was their key point? Oh, it was, it was risk. Risky, risky, risky. But what's the risk of, well, but also, okay, it was, keep in mind the time it was digital assets coming off the failures of 2000 of 2022, including an especially FTX, right? The, the, the bank regulators all, all came out in the U S in, on January 3rd, we got denied on January 27th and, and went hardcore anti-crypto on January 23rd. Hold on. So if you, uh, if there was no crypto component and you were just a full reserve bank, hold on. There was another one years ago. They blocked it. Oh, multiple. They blocked multiple. Um, but so, yeah, so this is interesting cause this is, I was alluding to this on stage yesterday. The fed has also blocked other uninsured state chartered banks. So here's what's happening. The FDIC is not ensuring certain types of banks. They really don't want any innovation whatsoever, period. It seems in the financial system. They only want the traditional banks to do anything in financial, in banking. They don't want any, anybody new. Is this because the traditional banks do their dirty business? Well, that's a good question. I can't, I can't say that. I will say that, um, it's, it's very obvious that there's a huge incumbency bias. Um, and there's more that I know that I can't say, but, but the gist is, um, it will, and it will come out at some point soon, I hope. But, um, but, but long story short, um, there is a huge incumbency bias and, and to get to your question, was it crypto? Okay. The fed has also denied and the FDIC has denied insurance to a number of, of payment banks that don't want to lend. And, and these other ones don't have any crypto component whatsoever. So what they've done is go, go to the six US states, six of the 50 US states have uninsured bank charters. Three of them are red states. Three of them are blue states. And four of those states have chartered banks that are applying for fed, fed master accounts. Many of those banks have applied to the FDIC and the FDIC said, no, if the FDIC insured us and we did apply to for FDIC insurance, if the FDIC had insured us, then we would have gotten in to the fed system. But the FDIC said, no. Okay. So your question is what happened to us specific to crypto? We'll go look at the fact that the FDIC and the fed are both rejecting other non lending payment banks as well. One of them is a, is a company that I mentioned yesterday that was doing trade credit, basically trying to speed up payments and supply chains and using technology to do it. They essentially set up, as I understand it, an API call at customs offices so that when goods clear customs that the invoice is automatically generated and then the payment gets started. And they were using technology to do this. This sounds like a really great idea. Let's speed up payments and supply chains. And unfortunately they got denied. And I don't, I don't fully understand it, but the same thing, the same basic language was unsafe and unsound. So that's going in the same direction of where you are, which is they just don't want non lending banks. But I do believe in our case because what, what did the fed say in that 86 page order all over? It was risk, risk, risk, risk, risk related to crypto. This show is brought to you by BitCasino, pioneers in Bitcoin gaming. 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And even for non-technical people like me, it is effortless and it provides privacy by default. And with Wasabi, there is no minimum amount, so you can start CoinJoin straight away. And Wasabi users make CoinJoin transactions together with BTC pay and Trezor users. And BTC pay server users can make payments in CoinJoin, which saves on fees and is a privacy improvement. Also Wasabi recently dropped a new feature. Now Trezor suite users can make CoinJoins directly on the hardware wallet, which is very, very cool. Now, if you want to find out more, please do head over to Wasabi wallet dot IO, which is W A S A B I W A L L E T dot IO. Well, I do smirk when these people say unsafe and unsound when they've built an unsafe and unsound system. As Pierre put out a brilliant tweet recently, what did he say? The arrogance of telling me how to be responsible with my money when you've built up a 33 trillion dollar debt. Something along those lines. Yeah. It was brilliant. Well, listen, I mean, I said something yesterday, you even tweeted about it, about certain things feel very un-American. I've come to this country for years. I love it here. I love American people. I love the American values. I absolutely love how this country was found, even though you kicked us out. I loved it. And I love reading about what the founding fathers did. I wonder now if they were here today, rewriting the constitution, obviously there was, you know, every, when you're in the UK, we know, we know two of the amendments. All the rest, we don't really know. We know that we have a first amendment to protect speech, second amendment to right to bear arms. But I actually believe right now there should be a third one that relates to money. Something that relates to a protection of your rights to your money. And I don't know what it is or how it is. I'm not smart enough to construct it. I just feel like that is a missing component, which, which feels like something that would be very American, that you would have the right to own your own gold or your own money, whatever it is. I believe you need it. Okay. So I don't think that the founding fathers thought that was necessary because of article one, section 10 of the US constitution, which defined the dollar as specie, gold and silver. I don't think they thought they needed an amendment specifically to that because it was already covered in the constitution itself. However, the Supreme Court has, and I don't know offhand, traces an expert on, on, on the cases, Supreme Court cases related to money, but basically the Supreme Court overturned it. So, you know, there've been a lot of, of cases, a lot of things that have, have caused the constitution to de facto be overturned in interpretations by the Supreme Court. Interstate commerce is one of them that blew a huge hole between, you know, essentially in the 10th amendment and the whole notion that the fundamental unit of government in the United States is the 50 states. It's not the federal government, right? But so that, you know, if you look at the creeping centralization and the creeping overturning of the US constitution, it's, it's, it's happened over time and it's been, it's been steady. It's not like, you know, there've been events along the way, but it's been, it's been fairly steady. As an aside, when I was visiting Washington DC, one of these last times, I went to both the Lincoln monument and the Jefferson Memorial and you can see, right, the Jefferson Memorial is from the, from, from the founding time of the country. And then the Lincoln monument is the civil war. So there's, you know, give or take a hundred years in between. And you can see in just the statements of those US presidents how Jefferson was so committed to devolving power and decentralizing power and Lincoln was the opposite. So the US had had a huge change, sea change just in that, in that first century of its life. And it's continued. And so it's, it's just interesting how, how two presidents who are highly respected I'd been to their monuments previously many times, but it wasn't until I had the lens of the experience, the life experience and just age of, of understanding that when I read the things that they were saying that were inscribed in the, in those marble monuments to them, just how different they were. So there's a perception that the US is losing it now. No, I think it's been a creeping thing that's been happening throughout the US's history. And there are things that I wish we could go back and change, but, but, but so the Supreme Court was the one who, who blew a hole in the constitution by, there was a Supreme Court case that, that, that, that essentially said, no money isn't specie and, and having a Fiat dollar that wasn't actually gold or silver is, is, is, is okay. Now with this Supreme Court uphold that, I don't, I don't know, maybe they would overturn it. They've had a, the Supreme Court hasn't been afraid to overturn bad precedent. However, you have to get what's called standing to be able to get to the Supreme Court and it's hard to get standing to sue over issues like that. There's a very interesting law review article talking about why bank regulators in the US almost never get sued. And it's by David Ziering, it's called the Corporatist Origins of Bank Regulation. And you know, the bank rate, federal bank regulators we know have been operating above the law, right? Operation Choke Point was not legal and they did it anyway. And the impetus for our case was the, the Federal Reserve shall provide services, services to all eligible depository institutions. That is a paraphrase of the statutory language of the Monetary Control Act of 1980. It's very clear and the legislative history is very clear. The Federal Reserve must, literally the word shall provide services to all eligible depository institutions. And even there's a non-discrimination provision in that law as well, right? I mean, it's crystal clear. If you're a charter financial, charter depository institution, you get Federal Reserve Services. Well that had, you mentioned there were other banks who had tried to challenge the Fed's denial and, and the Fed was able to block those, those, the first two cases, the first two attempts to deny or to challenge the denials were blocked. Ours is, ours is the third and the third time was the charm. And I obviously can't talk about the case, but I will just say it's public knowledge that the motion to dismiss the case was denied and it has gone forward to discovery. This is all public information and the discovery is slated to end December 18th. Can you tell us, is it you litigating them? Yes we sued them. You sued them. And can you tell us what it is specifically you are suing them on? On that statutory language. Okay. Right. So, so if we step back, what has happened? There's been this creeping centralization of power in Washington DC and in, in our industry, it's it's to the bank regulators who literally have no checks and balances on them because nobody ever sues them and they're not subject to the appropriations process. This is David Zering's law review article, which is terrific. And he pointed, he looked at how many times the Fed got sued in the decade, 2010 to 2020 for things other than, you know, employment cases and things like that. When a bank actually sued the Fed and it was twice, and one of them is not relevant because it was over the constitutionality of whether the CFPB, the Consumer Financial Protection Bureau was properly funded. So that's not, that's not a bank regulation case. There was only one. And so, you know, when an agency is almost never sued and there's no check and balance on their power, what do you think happens? They get away with whatever they want to get away with. I didn't know this at the time, but one of my law school buddies was the lawyer who sued the FDIC on behalf of the payday lenders to regarding whether operation choke point was real because the FDIC was originally, um, denying that it was real and, and, and, and according to the record, lying because once David got them into court and got into discovery, he started finding all kinds of evidence that they had lied. And so the FDIC settled that lawsuit and agreed to stop subtly pressuring the banks not to bank the payday lending companies. But we know operation choke point in the crypto industry, Nick Carter was right to coin the phrase operation choke point 2.0 because we've been in one of the industries that's been targeted by this subtle backroom pressure of the bank regulators. But because they're almost never sued again, there's no check and balance on them. And so sometimes it's clear they look at the law and say, well, I, I just make it up, right? I mean, they just, they're not, they're not challenged on their interpretations of the law as to whether they're valid or not. Operation choke point was not legal and it wasn't until somebody sued them in that case, the FDIC that it was determined just how out of bounds the FDIC was at that time. And so that's David's point that these, these federal bank regulators are way over their skis. There's a structural problem that, that there is no check and balance. They're not, that's an American problem. It is a very American problem, but it's un-American to your point. And this is what frustrates me so much because it's a very, America is a proud country. We know this. It's proud of its values. It's proud of its history. It's, you know, it's, it's so proud of its constitution. People talk about this being unconstitutional passionately. You have 300 million very proud Americans. And then you have a group of people who, who literally operate in opposite to how the founding fathers did. The founding fathers tried to build everything to build a strong Republic. They understood the weaknesses of man and well, I say weaknesses of man at the same time, but weaknesses of people and they put every check and balance they could think of. They argued over it. And now we've got a bunch of, I think corrupt crony career politicians, uh, who, uh, govern over a bunch of three letter agencies who constantly make decisions to crush individuals, crush business. And I just don't understand it. I don't under, cause look, if there's ever a tackle free speech, people defend against with the first amendment, with everything they have same with even with the second amendment. Look, I hate all these shootings. I don't understand why you have guns because we just don't have them, but I absolutely respect it. You've got the knife problem in London, right? I mean, it's just a different manifestation of the same issue. Yes and no. Let's not get into that. Cause everyone listening will get wound up, but I'm just saying, I don't, I don't understand it because I'm from a country that doesn't have it, but I respect it cause it is your country and, and whatever happens, it doesn't matter how many schools have shootings. People will not give up their second amendment, but they give up everything else. They'll fight over abortion, they'll fight over trans rights, they'll fight over climate change, but actually they won't fight over the collective thing that's crushing them together. Right. But see, that's the amazing thing, which is that the, the, the media and the education system culture has pushed Americans into those, those culture wars literally and not, it's bread and circuses. It's taking everybody's eye off the ball of the fact that, that mom and pop are being stolen from in the way that the financial system is set up. And I think the anger out there is incredible. One of the things I love about living in both worlds, right? I was in New York for 30 years. I lived in a very high end neighborhood in Greenwich, Connecticut with two of my neighbors were billionaires. Okay. But I can also go back home and strike up a conversation with, you know, a minimum wage worker who is, you know, working hard to, to put, you know, food on the family table. In fact, actually I want to thank somebody who, uh, I don't know if he even knew who I was, but it was an oil field worker. We were out to dinner with friends. One of our friends was having a birthday and to this random strange stranger couple paid for all of our dinners. And you know, this was probably not somebody who had extreme wealth, but he was a generous person who saw happy people having a birthday and he just randomly paid for all of our dinners. And I'm pretty sure he was an oil field worker who had just gotten paid. And this was in, I will pay it forward. I'm going to do that. When I find another circumstance like that, I'm just going to pay for somebody's dinners and pay it forward. But this is the point, right? Like, like, you know, a lot of the, the, the New York, you know, the billionaire set would never be in a position where, you know, somebody who just come up, came off the oil field and just gotten paid would buy them dinner. Right. Because there would just be this divide. Okay. But I live in both worlds and, and so I appreciate it and, and, and pride myself in understanding both sides. So that's the background that I want to lay out when I say the anger out there over what's really going on is incredibly high, but it's, it's not coordinated. I know it's not. And, and they've been taking advantage of that. Yes. And I think if you, if you, if you've got just random selection of Democrat voters, a random selection of Republican voters said, list these five issues in order that are most important to you and your family, abortion, um, gun rights, climate change, inflation, yeah, or money, whatever. I think most would put the money near the top. Oh, of course. They're going to put their family household table finances issues. So you sit them together and go, all right, what do you want to do? Do you want to argue over these three or do you want to join forces on this? And you have to, you have to get a uniting force. This is why I find Vivek so interesting and I find RFK so interesting because especially Vivek, you know, he particularly impressed me yesterday in that he recognizes the size of federal government. He said, I'm going to reduce it by 75%. Yeah. We're going to cut this. That's going to be a hell of a fight for him, right? If he ever wanted to get into office. But yeah, I don't know if they'll do it. You know, but the fact that he wants to do that, he cares about that. He understands the value of Bitcoin. He understands what's going wrong with the Fed. Like he understands that primary issue that affects both parties and he refuses to get involved in all the other nonsense and RFK is similar. He's going independent. Like America's pushing towards needing this unifying force. It's not going to be Biden or Trump. They're not going to unify the country. Of course not. Andrew Yang would have been a good one as well. You know, what's interesting is, is how many people I've heard at this conference say, why can't Vivek and RFK join forces? I know. Right? They could win, right? I actually think they could. I mean, certainly RFK, you know, he's polling at 22% in a three way race right now. That's unbelievable. It is. Right. But that tells you so. And I was, I tweeted out yesterday, I was standing backstage when his motorcade arrived. They actually drove into the convention center. And I don't know if you're aware because you're not in the US and getting the daily news, but he is, there was an idiot who tried to break into his house, was released on bail and went back and tried to break into his house that, that afternoon. So twice the same day, right? He's got real security issues and Biden won't give him secret service protection. And I am really just appalled. And you just look, I mean, you see the metal detectors that we all had to walk through, right? That's all privately paid. And I look at that and I say, that is a competitor to the sitting president. And it's never been, no, no sitting president has ever withheld from a competitor that was a legitimate candidate, secret service protection. It's never happened until now. Okay. So there's so much that's gone wrong. That's even worse. That's happening in the Biden administration right now. And you know, the sad thing is Biden himself did not govern as a hard left person when he was in the U S Senate, but he's governing hard left now. Yeah. I mean, I find that holes, especially the history of both his father and his uncle, you know, his family has been targeted for sure. Why they wouldn't give him additional protection. Because how many, how many millions I was talking last night with, with folks at our dinner, we were trying to estimate like back of the envelope, how many millions of dollars is he having to spend on personal security? And he has to raise the money to do that. I don't, I don't, I mean, the Kennedy family is wealthy, but not that wealthy. And it's all, you know, he's, he's obviously next generation and it's been spread around a number of people. But my point is, I don't think he's independently wealthy. Well, even if you are, you know, as well as I do, wealth doesn't just sit in a bank account. Well, you know, then you spread out an investment. So it actually liquidated wealth. He's got to spend, we were guessing at least $10 million on his personal security. Okay. So he's got to raise that money from campaign donations if he's not fun to get himself. And I don't, my guess is that he, I don't, I mean, his wife is a, is a successful actress. I don't know what their personal finances look like, but he's not a billionaire. Okay. So, so spending at least $10 million on personal security is, is, is, is something that, that he has to fund. And so if you think about it from the perspective of campaign finance, by forcing him to fund that personal security out of his own campaign funds, he's got less money to spend on commercials and, you know, campaign staff, right? That's what Biden's doing. That to me violates campaign finance law. It's like, it's like, it's almost like another choke point. Of course. But that's, that's the point, right? It's the centralization of power in Washington DC and he's fighting against that. And you know, he's, he's actually, he actually said he thinks the CIA was involved in his father and, and uncle's murders. And you know, Vivek, I have no idea whether he's gotten some of the same, you know, personal security issues by saying he's going to fire 75% of the US, US government. But those two are taking on some very powerful interests and all this centralization of power in Washington, in Washington DC, which was not the original constitution. And a lot of folks to your point don't understand just how much the regulations have, have, have been captured by private interests. This is why the big and big, big, big banks keep getting bigger and they won't let new, new ones in or the small, small banks, you know, are, are, are obviously, they got bullwhip affected and probably won't survive. Right. So, so we're going to just see a consolidation of the small banks going away and the big banks continuing to get bigger. I mean, my God, they, they let, they let the, an exception for JP Morgan to, to purchase more than, to purchase the, the, the first Republic stub and Silicon Valley, some of the Silicon Valley bank assets, that they gave them an exception from the law that says that you can't have more than 10% of the deposit base in the United States. Well, if you're just going to waive an exception like that, then, you know, JP Morgan's got an interest in creating an environment where more and more banks fail and they can just go pick, pick off the best parts of the businesses because they're just going to get that exception waived. Okay. This is the stuff that's happening in the United States that makes people so angry. There's no wonder that Jamie Dimon doesn't like Bitcoin. Well, he says he doesn't like it, right? But they've built, just like the other big banks, they've built Bitcoin custody and they're ready to go. They're probably not as hell at the SEC because Coinbase is the, is, has locked up the ETF custody business. The only non Coinbase custodian in all the ETF custody filings, all the ETF, the Bitcoin needs spot ETF filings. The only non Coinbase custodian is Fidelity for the Fidelity fund. Everybody else is using Coinbase and I'm quite sure Bank of New York Mellon and State Street and JP Morgan, who are the biggest securities custodians, are mad as hell. Of course. Yeah. I mean, I think it's a, I think it's a reluctance to get involved and I think it wants to be involved. I think Jamie Dimon wishes this would all go away. Well, certainly the, the intelligentsia in the bank industry wishes this would all go away. Yeah. Um, and we've been a target of a lot of misinformation from the banking industry and, um, and a campaign to, um, that some of which has been public, some of which has not, um, to, to get the Fed to block us. Just fight them. Just keep fighting them. Well, we are fighting them. And you know, that's one of the great things in the wisdom of the, of the founding fathers of the United States is that the, they created three equal branches of government. And so what we're talking about with the consolidation of power in Washington DC is the executive branch, right? That they've taken power away from the States. They've taken power away from, um, individuals and put it in Washington DC and you can see it by the way, I, I, I was an intern in the White House in 1992 and I just, I remember what Washington DC looked like back then compared to what it looks like now that the giant sucking sound of money that has come into that area of the United States and the huge upgrade of real estate and the massive increase in the cost of living. How did that happen? It was because of all the centralization of power in Washington DC. And now Washington DC is this super high end city and you know, incredibly expensive to live in. It didn't used to be that way when I was working in 1992. I mean, there, there, there, there were a lot of rundown buildings and there hadn't been this huge real estate upgrade and now it's, you know, huge portions of what used to be poorer neighborhoods are now gentrified and fashionable, fashionable and then super expensive. Right. And all the, all the people who lived there got pushed out by that. That wasn't good for them. That was not good for them. But um, but yeah, so I lament, I don't like spending time in Washington DC because I know that a lot of the wealth that you see visibly when you walk around the place came from the centralization of power and just this skimming of wealth from the middle class. Well, I don't understand how all these politicians got so rich either. Well, Elizabeth Warren is according to three million is 90, 90 now. Right. And she was a Harvard law professor cause she wasn't hurting. I don't know what her husband does, but $90 million from, where'd you get from Nancy? Where'd you get your money from? Well her husband was a real estate developer, so at least it's a little bit more explainable and a good trader. Yeah. I mean, when Congress exempted itself from insider trading laws, you know that there's something wrong. I know. It's like, come on. I know. I know. Again, like there's so much that has, the US that has moved away from the original constitution, but I didn't finish the thought about the judicial branch, but one of the great things about the judicial branch is it is the great equalizer. So I mean, unfortunately it's expensive to litigate because there's so many rules in the, in the judicial branch. Right. But, and so we've seen some litigation in this case, but um, in this industry that has pushed back against the overreach of regulation that came from the executive branch. So when there's overreach in the executive branch and concentration of power in Washington DC, you have two ways to deal with it. One is get the law changed in Congress. Well, for reasons we just talked about, Congress is a unit party and wants to centralize power and more money to themselves. They get rich by going into public service. It didn't used to be that way. And the other is the judicial branch and the judicial branch. Nick Carter has, has said it and it's right. It's the last bastion of freedom in the United States. It's the last great equalizer. And I just got done reading John Deaton's book. It's a phenomenal book. It's called Food Stamp Warrior. You know, he's the lawyer who gathered 75,000 XRP holders to agree to be sued by the U S government. They, they, they intervened in the XRP case against the SCC to be 75,000 people from around the world agreed to become defendants against the U S government. In that case, it's a, it's a, it's an incredible story. And I don't agree with, with, with John that he moved on from Bitcoin pretty fast because of the scaling issues. I don't agree with him there, but he's a phenomenally smart guy. And that book was a stunning book. And he grew up in the hood. He was one of three white people in his high school. And just what it, his experience of, of going from, he was a food stamp warrior, grew up in a, in a, in a very poor family, knew real hunger and, and, um, lifted himself up by bootstraps on boots he never even had. And it's just such an incredible rags to riches story, but he is a fighter and he is a perfect example of somebody who used his platform for good and pulled together 75,000 people to intervene in, in what he calls one of the strangest writs of mandamus ever filed in the U S court system. And he succeeded. And it's a, it's a phenomenal story. Um, I highly recommend the book. It was such a page Turner. It's a, it's a crypto adjacent book, um, because he's obviously a well-known person in this space. Uh, and I don't want to get into the Bitcoin versus XRP thing, but, but I have to, but I will say that, that, that he did an incredible service to all of us. And his point is well taken. And he, he, he said, and I didn't know back, back then, because I wasn't following it. He said, this is going to impact the entire crypto industry, this, this XRP lawsuit. And he turned out to be right. Um, and so by fighting and by, by, by being a brass knuckle and, and literally brass knuckle, he's going to, you know, if you read his book, you'll hear about his brass knuckle stories. Um, he's a true fighter and, you know, became a U S Marine and, and, um, and then a prosecutor and, and ended up, he said, like, he was so successful. In his law practice that he started to get bored by it. And then crypto became the thing that caused him to get out of bed in the morning. And he's not been making money off it, off his crypto lawsuits. He did all of that because he was an XRP owner and he said, look, what the sec did was steal from people by that's his perspective by, by, by, by calling XRP a security and having all the exchanges delisted. Um, that was what he, that was what he concluded and he wanted to stand up and fight and thank God he did. Thank God. We have people like that in our industry.
You Won't Believe What The Media Is Calling Donald Trump Now
"Political opponents or individuals they don't like and in doing so, in doing so they make a mockery of the Holocaust. Mhm. Mhm. Mhm. Nobody truly believes Donald Trump is Hitler. One of the great pastors in America, one of the great evangelicals in America, is a friend of ours, Pastor John Hagee. He started an organization several decades ago, Edit for Israel. Millions of members, upwards of 10 million members. One of the greatest pro -Israel, pro -freedom nations in America, which means on the face of the earth. And today a website called Indiaite, smears him and degrades organization him. An
How Can Anyone Claim Pastor John Hagee Is "Praising Hitler"?
"You have their funding sources and their links in our own country. You have them undermining Israel at the time of war. And this is what they do. This is why you hate them and you should hate them. What is SCUFAR, Christians United for Israel? Here's their mission statement. It's the largest pro -Israel organization in the United States with over 10 million members Christians United for Israel is the foremost Christian organization educating and empowering millions of Americans to speak and act with one voice in defense of Israel and the Jewish people. CUFI's diversity across political, ethnic, generational and denominational lines maximizes our impact media, in communities, on campus and in the in our nation's capital. CUFI is committed to confronting a difference in combating anti semitism in all its forms wherever it may be found. That's very different than Hamas's mission statement which I don't believe has been read by any news operation from beginning to end. Number one it's quite long but number two it is self threatening. And here this group founded by Dan Abrams is trashing one of the foremost leaders in the Christian world. Defending the state of Israel. Trying to tie him to Hitler. This is really shocking. But I guess it's really not. Benjamin Netanyahu himself has been the Jewish leader of the Jewish state. By the radical left in his country and our country. Kufai was created in February 2006 as a grassroots movement designed to unify Christians across all denominations and cultural boundaries in support of Israel. was media founded? Why God knows why.
A highlight from If You Missed The Crypto Rally, Follow This EXACT Roadmap!
"If you're feeling lost or underexposed after the recent crypto rally, then you've come to the perfect video. Because today, I'm going to be outlining my roadmap for crypto riches in the next bull run, running you through the five steps that you can follow to build the ultimate bull market portfolio. Yes, you haven't exactly timed the bottom correctly if you're watching this video and you don't have all your entries, but no, you haven't missed out on the opportunity to capitalise next bull run, as I believe this market in the right conditions can go much, much higher. And we can see if we look at the YouTube views, which is pretty much the ultimate retail indicator, retail is still hardly back yet, Bitcoin is sitting above $37 ,000. So the amount of potential this market has to grow once retail comes back in leads me to believe there are still massive opportunities. So there's no need to panic, no need to FOMO if you haven't got your entries yet. But what you must do is come up with a sound accumulation plan to make sure that you're building your portfolio in the right way for the bull run. And that's exactly what I'm going to run you through. In today's video, there are many ways to make money in this market, you can scalp you can day trade, you can swing trade, you can airdrop farm. But in today's show, I'm going to be focusing on the investing side of things, the slightly more passive side things that doesn't require you to pick it up as a full time skill. Yes, it's going to take some active portfolio management, if you really want to build a successful portfolio, but it's not as time intensive as some of the other strategies that you might be following in the market today is purely focused on the long term investment side of things, how you can build an underlying portfolio to keep yourself steady and maximize upside for the next bull run, whilst also building a nice foundation for if you do want to trade and if you want to do anything additional that you can stack on top, I believe this strategy is complimentary to trading strategies in the market. So it's not a one or the other thing. But it is about setting up some nice foundations. So in light of that, where do we currently sit? Well, although the altcoin market has had a pretty big pump and Bitcoin has had a big pump, I believe we're still in an accumulation phase. Technically, we are still in the year pre halving. And typical Bitcoin bull run peaks don't tend to happen until the year after the Bitcoin halving, which would be 2025, late 2024, when things really start to pick up. Of course, every cycle is going to be a bit different. Maybe we are seeing things shift a little earlier, maybe not, maybe it shifts later, we can't time it exactly. But what we do know is generally, we are in an accumulation phase. So the goal of an accumulation phase is to stack as much crypto as possible via any means possible. The way you do this is obviously where all the nuance is. And this is where you're going to exhibit the difference between the 2x return next cycle and a 20x return next cycle. I think if you stick to the principles in today's video, there's a good chance that you can be aiming for that 10 to 20x portfolio value next cycle versus many people who are just simply going to ride it all the way up and then end up round tripping it all the way back down. Because accumulating through any means possible doesn't mean just accumulating after every pump. There's actually a strategy that I want you to follow in order to get better entries on altcoins. And that's what we're going to talk about now. So the first thing that you need to do if you want to build a successful portfolio is create a watch list. It sounds so simple, but it's something people often get wrong. They see these new coins cropping up on Twitter, they get tempted to ape in, when in reality, you should have a really organized for system having your watch list. So before you even think about buying, make sure you have a clear watch list identified. And this process can take months, this process can take years. But what happens is as you research, as you watch more videos, as you experience new things, as you learn things, you gradually refine your watch list, you get rid of coins that maybe aren't performing so well, and you add coins that you find out about that you're bullish on, and eventually you end up curating a really nice watch list. So the easiest method to start with when it comes to building a watch list, this is even before we get into any of the buying stuff, is to start with the individual sectors or narratives. So what I would do is I would pick two to three verticals you're most bullish on and start your research there. Niche down into two sectors that you really, really believe in. Some of the examples of the sectors that I find interesting are in front of you. I think AI is interesting, real world assets, gaming, ZK, LSDs, DEXs, SocialFi, NFTs, pick maybe two, three of these sectors and really start narrowing in on those sectors. I really like to build my portfolio around these major sectors because I believe crypto doesn't operate in isolation. There are many growth verticals which are going to help crypto achieve massive option, and there are certain growth verticals out of those that are going to end up outperforming. And the ones that I specifically like, I do want to concentrate a bit more of my portfolio allocation towards those narratives. For example, if you're really into crypto gaming, this could be a logical place to start research the gaming space and start positioning yourself there before you start creating a watch list for some of the other sectors. But of course, over time you'll build out a fully fleshed out watch list around all of your favourite narratives. So what I would do to build a watch list, I wouldn't do it in Apple Notes, although you can, I would do it in Trading View because Trading View has this amazing yet very simple feature which allows you to build individual watch lists. I would make a list called buy list or accumulation list. And what I would do is whenever I find a coin that I am interested in buying, or I know I want to buy a coin, I would just add it to my buy list because this will be your list that you know that you can look at every single day in order to monitor those coins and also get your entries on those coins. So having it all condensed in one place on Trading View is really handy. And what you can do is you can sort by colour in one of two ways. You can sort colour based on the narrative. So I can make let's say any AI project orange and any L2 green. Or you can also do it in terms of market cap, have like, you know, red for your large caps, green for your small caps, however you want to colour code it, you can do that to make it easier for you. So then you can go into your red list and your blue list etc. And actually sort by major caps, small caps, mid caps. So organisation is really key here in terms of making sure your watch is super organised because it's going to make it easier for you to actually keep track of this journey. I think most I know it sounds so simple, but most people don't do this. Most people don't have an organised watchlist or an organised spreadsheet. And this is the first step to successful investing, right? If your mind's not organised, how can you expect your portfolio to be organised? I mean, it's just so important. If you do want to fully maximise your portfolio management, because it's not just buying, that's the trick here. It's managing, it's awaiting allocations, etc. So it all starts with having good setups. So in order to do this, we'll head into step number two now. And that's creating a journal in Excel. So after you've got your watchlist into trading view, this is when you want to go a little bit deeper, because the trading view watchlist is the coins you want to buy. But on Excel, you start to enter some logic. So I'll give you an example of how I would do it. I would list all the coins I'm interested in buying. This is a sample portfolio. Then I would have a column which says my thesis, time horizon and invalidation and risks. So for example, for Ethereum, I've written down my thesis, which is it has a diverse ecosystem. It has first mover advantage versus other L1s. It has institutional interest, which is set to ramp up. And it has proven staying power within the industry. I've put my time horizon at five plus years because I view it as an extremely long term bet. Now, obviously, taking profits can happen at any time in between this period. But it's important to have a time horizon established because certain investments will be more trade based and certain investments will be more long term. And I would also put my invalidation slash risk. So for Ethereum, I've said the major risks are it can lose market share to other L1s like Solana, for example. It could have technical risks if there are any major upgrades gone wrong, because I know they're doing a lot of network upgrades. And another risk could be the invalidation of one of my main key thesis points, which is institutions are piling into Ethereum. Maybe they don't choose to or they opt for other coins or Bitcoin, etc. And this would be an invalidation. So I would go through my entire portfolio and I would enter in the thesis for each coin, time horizon and invalidation. Why? Because at any given moment, you're going to be able to go back and say, why did I buy Injective? Oh, it's because this is my thesis. Why did I buy Ethereum? Oh, it's because this is my thesis. And then before you panic sell to rotate into a new hot coin on crypto Twitter, you can actually go back to your thesis and look, okay, am I still bullish? Are the reasons I was bullish then still the reasons I'm bullish now? And you can answer yes or no. And you can tweak it over time. And this helps remind you why you bought a coin in the first place. Because so often people just buy coins because they're hyped. And then they're like, I actually don't understand what this coin does. Why am I holding this coin? Well, that's something you need to avoid in order to create a successful portfolio. Because if you don't have conviction in a coin, how are you going to hold it through the rough times? And who's to say you're not just going to rotate out of it if you don't believe in it to a hotter coin, a shinier coin, if your coins underperforming, right. So it's very important to have everything documented in an Excel or a Google Sheets or however you want to track it. So you actually it's like a trading journal, right? So you have your thesis clearly outlined for each coin. Another thing you can do to go a step further is actually conduct a SWOT analysis for each coin. This is actually an amazing practice that I highly recommend doing. And it basically means once a coins in your watch your trading view watch list, and once you're starting to populate it into the Excel, actually go fill out a form, it can be done on a on a Google Doc, and you can link that into your original Excel. So I'll show you what I mean, you can create another column here, which says SWOT, and then you can have the Google Doc link entered in here, click on that, it'll open up a new document, or if it's on your desktop, then you can link it to another document on your desktop, which basically means you'll you'll have an individual study, a SWOT analysis study for every single coin that you've actually gone and researched. And this is a great learning experience. Because when you're trying to find the strengths, let's say for Ethereum, the weaknesses, the opportunities, the threats, you're going to come across new ideas and new thought processes. And let's say for Ethereum, you can think of the strengths, you know, the opportunities, you know, some weaknesses, but you can't think of any threats. Well, that's a great gap in your understanding that you can explore and prod further. So you can look for counterpoints, you can look for content, which actually challenges your theory, you can ask people in the space. I mean, we I answer a lot of questions and DMS, etc, on Twitter, but I know Randals and the other hosts do as well. And also other experts in those niches, I think are also super accommodating if you have any interesting questions. So by filling out these sheets, you're going to get a much more detailed analysis on your favorite old coins. And this will help you develop your theses as well. So underrated little trick here is to actually do a SWOT analysis for each coin and link that into your spreadsheet. I'm basically trying to practice here healthy habits when it comes to portfolio building, because I can almost bet 99 % of you probably don't have an Excel that has in -depth theses and plans and invalidations for every single coin you hold. Most of you probably just ape into coins on a centralized exchange or maybe on DEXs and that's completely okay. Nothing wrong with that. But I'm saying if you want to maximize next cycle, it's time to level up. It's time to get serious and it's time to plan because if you don't, you'll be left behind and maybe some of you have the taste of being left behind from the past couple of weeks. I know a lot of people have been asking me, you know, have I missed it? Is it too late? Well, it's not too late, but it is going to be too late soon if you haven't got the right plan in place because things can happen super quick in this market as you've seen. So now for step number three out of the five step roadmap. Now it's time to determine position sizing. And this is the most subjective and nuanced step in this video because obviously how much risk you allocate to a low cap will be different from you to the next person, right? Because I don't know your financial situation. You might have a family you need to support, you can't take much risks. You might be young like me and be willing to, you know, risk it all and you don't really care. If you lose money, you may be super wealthy and you're only playing around with 5 % of your net worth. And if you blow it on crypto, you don't really care. To some people, you might really care about losing money, right? And you might want to be a little more conservative. So it really depends on your situation and your goals. Do you want to hit a million dollars next cycle? Do you want to hit a hundred K? Do you want to hit 10 million? Like, it really depends on your situation. So this is something only you're going to be able to work out. But I'll give you an example of how I would determine position sizing. So on the Excel, I would add a column for percentage portfolio weighting. So this number is going to represent your ideal position size for each coin. I'll show you what I mean. So for example, for Ethereum, I've allocated in the sample portfolio 20%. So $100 ,000 portfolio, that would be $20 ,000. And I've allocated percentages for all the other altcoins based on $100 ,000 portfolio. And you can tweak this number as you wish in order to get the representative figures when you make your own sheets. But what this is going to do is give you an idea of how you actually weight risk. Now, how do you determine how much percentage to allocate to each project? The easiest thing to do is break it down by either sector. So you can go like, let's say 30 % towards L1s, 15 % towards L2s, whatever verticals you're bullish on, as we discussed before, you'll allocate heavier to those. Verticals you're less bullish on, you'll allocate less heavy to them, right? But my preferred method is actually not by sector, depends how your brain works, but I prefer to do it by market cap. So large caps, I might allocate 40 % towards, mid caps, I might allocate 30 % towards, small caps, I might allocate 20 % towards and micro caps, anything under $10 million, I'll allocate 10 % towards. So this is one way that can help you structure it. What you can actually do is you can create a pie chart. So once you've got the size right of all the coins, you can create another column, link that to your allocation percentage, and then make a pie chart and actually see how much of your portfolio is mid caps, large caps, small caps, and micro caps. That's a big tip that I have for you, because that's going to help you get a view of how much risk you're taking with your portfolio. And look, as I said, for some people, your micro caps might be 30%. You just might want to hit the lottery next bull run and make 10 million or make nothing and you decide to do that and go, you know, you want to go 30, 40 % on micro caps, knowing that you could blow it all. But some people might prefer to go, no, I like, you know, I'm happy with the three to four x next cycle. I'm just going all large caps. I'm just going to go Ethereum and Solana and a couple others, and that's it. And, you know, make my maybe three, four, five x, I'm not interested in the 100x stuff. And that's completely fine as well. That's why it completely depends on your personal situation. And step number three is the most subjective one. But hopefully just by writing it down and allocating per sector, this gives you a good idea of how you want to structure your portfolio. And you'll get a pretty good feel once you start to track your portfolio in real time, as to how volatile your portfolio is, you might realize it's too volatile, you might realize you're not getting enough upside. So the beta is not correct on crypto pumps. So you'll actually know over time. And this isn't anything set in stone, you can tweak over time, if you want to go more risk on when the market's more aggressive, you can do that. If you want to less risk on when you want to be more conservative, you can do that. No one says your portfolio has to be set in stone all the time. This is where you allocate to fresh accumulation. So now you've assigned your weightings, it's time to plan your entries. How do you do this? Well, you have a trading view already set up. So this is going to be your number one port of call when it comes to market out levels. What I would do is I would go through that entire trading view by list that you've mapped out. And I would set key horizontal support levels on a high timeframe like the monthly or the weekly. And then I would draw in the levels where I would look to accumulate. So let's use dydx as an example, you can go into the weekly you can mark out clearly range lows a dollar range high was $2 .70. And your next major resistance level is at $4 .20. So your green accumulation zone is your ultimate support by this is your range low support. We may not get there. But this is where you want to put in limit orders, right? Your yellow box, you would have a an alert on trading view set up for when we hit this zone. So you'd create a little alert here, it'll ding on your phone, you can say as your message, you can say dydx buy zone. And what this will do is it will track when we drop back down into that zone. So you can and you can also set a limit order there. And then you have your red box, which is the same thing. So when you break above, you get that alert. When we come back down on confirmation, you can make a buyer. So for the green box, this is something you could have set a passive limit order on an exchange automatically do it, you don't even need to do it yourself. Just let it happen. If it gets back down there. For the orange and the red zones on altcoins, these are more active positions. So use the trading view alert function when you get alerted, then you can make your decision on exactly when you want to DCA. But you probably should stick to your plan once you outline it, right? If you if you make a plan that you want to accumulate on the retest of dydx range high, then when you actually get there to the chat to the point of accumulating, don't flinch, like you actually have to follow through on your plan. So what I would actually do is I would even write in some text here, I would go to settings, I would write in some text, I would say accumulate on retest, if x, y and z, you might have some technical parameters that that you want to like add in, if you're a bit more technical, like, you know, I want to see RSI up on the upswing, I want to make sure there's a four hourly confluence with the retest, whatever, all those technicals that you can kind of stack on top. But it's really good to actually write this down. So on trading view for each coin, you're going to have your levels on the weekly on the monthly, like dogecoin, for example, a major support level I would look at is the five seven level, this is an area that I would be interested in setting limit orders. So the more limit orders you can set the better if you can set limit orders on exchanges and just have some capital across a few different exchanges, have your limit order set and forget about it, that's the best, because then you're not going to panic when price gets there. A lot of the time what will happen is price will actually get down to the support and then people get bearish, right? They bearish here, they bearish here, they bearish here, they bearish here, they never want to accumulate in the support range. Then when the price starts pumping, they're like damn next dip I want to buy right and then it goes back down. And then when it dips down, you don't actually end up buying because you're psychology and the back and forth of wrestling with emotion and basically forcing you to buy in when you have a predetermined level that you want to buy in. For the DYDX example, you do have that predetermined level on range low, but because price is pumped, you now have to potentially look at buying on confirmation of the retest of key breaks of resistance levels flipped into support. So this is going to require a bit more nuance than just setting limit orders. But that's just a reflection of where that coins out every coins in a different zone, right? And every coin has a different scenario, like for fracks, you might say, okay, on the break of 760, I want to buy some fracks, because this clearly shows that it's reverse downtrend, for example, and then you would set that order once you've broken above. So it's not a perfect science. But what this does is it kind of forces you to stick to a strategy when the levels are in your trading view, and your plans are predefined before price gets there, then when price gets there, you should just be sticking to your plan. So you should be having a plan for the next six months on levels accumulation across a variety of coins. And you should know exactly when you're buying and you should know exactly what happens if price keeps pumping. What level are you actually going to get interested at again? So let's say the idea smashes through the highs, you know that you're probably going to buy the retest of range high on the high timeframe, right? So have all those scenarios planned out, then you're never gonna have to form it because even if price pumps, you've got a plan for that. And if price dumps, you've also got a plan for that you've got your limit orders, right? So you should be planned either way for either scenario. And if you want to get nuance with timing entries, you can even stack on additional tools like AI, etc. to get better entries. For example, Kyber AI, you guys know how I like the Kyber score in order to track momentum. When you do see a momentum swing on the Kyber score, that could also be an indicator that you can use in confluence with let's say the retest of that range high as we discussed before, in order to get your exact entry when your trading view alert goes off. And you can use all sorts of on chain data to snipe an even better entry. So it just really depends on your level. Some people prefer to be more passive and just DCA and whatever. But if you're a bit more active, you can start to stack these tools in order to get slightly better entries. And for more advanced market participants, a website like Kyber AI, I think is a good one. So there's a link in the description below to get beta access to Kyber AI for free. It's a free platform, if you're interested in that. So hopefully that accumulation plan makes sense. I think it just boils down to take advantage of fear. Typically, these support buys will happen after major sell offs. And the major sell offs typically represent the strongest opportunities in the market. I mean, just look at Solana. The two biggest FUD events were the two events that ended up being the best buying opportunities for SOL. And these were actually areas where I publicly said that I was buying Solana and they ended up being amazing buys up, you know, four to five x now. So buying fear in this market is definitely the strategy when you're aiming to build positions for the long term. Okay, let's go to step number five. Now, this is a really, really important one. This is keeping stables on the side for new projects. So I do this for two reasons. One, some of the best performing projects next cycle haven't even been released yet. Newer shiny objects tend to outperform their older counterparts, because there's less suppressory effect on price, due to the lack of underwater bag holders on new coins versus old coins. So what are old coins, there are a lot of bag holders, they can still explode, it doesn't mean they can't perform well. But just typically new performs can have that more aggressive thrust to the upside because there's less kind of dampening due to supply pressures, right. So keeping stable coins on the side for new projects is really important. Not only because of that, but because of the fact that new projects often solve the needs in the market that the old projects couldn't solve. So they usually launching and not all new projects are good, some new projects are rubbish, but really quality new projects are launching because they know that they fill a gap in the market that other projects couldn't, or they're improving on the technology that other projects have already established. So there's a benefit there as well. And the second reason why I like to keep stable coins aside is because it prevents you from recklessly rotating out of existing holdings. So if you have no capital, you're probably going to be more willing to sell let's say your Solana bag if it's not performing well to rotate into Stacks because Stacks is performing well. But if you have capital on the side, right, you have actual cash, you don't need to sell your Solana because you have cash that you can deploy into Stacks. So you're less likely to rotate out of your Solana into Stacks because you got capital to buy it. So one of the biggest tips for just not giving up on a bag too early is just keeping stable coins on the side. It's such a basic thing, but it's something so many people don't do. They get too greedy at certain times and don't hold enough cash. And then they get to risk off at certain times and hold too much cash. The key is keeping a balance. And I've been in both camps. There's been periods where I've held too much cash. And then there's I've kind of learned my mistake here. And for most people sitting around the 20 % mark in cash is not a terrible idea in terms of your crypto portfolio. Once again, this comes down to your risk tolerance, etc. As long as you have something that prevents you from FOMOing into these shiny coins with old positions, because this happens every bull run, you want to FOMO into the new coins. But it's just better if you if you're not forced to sell. Forced selling is horrible, often leads to a really subpar result in terms of your exit price. Much better just to have fresh capital used that's and reserved solely for the purpose of buying into newer coins. So this isn't to say that you can't tweak allocations over time. I think you should always tweak allocations. As prices pump, you can take profits, rotate into other alts, take profits into USD. As income comes in from other income sources, you can put that into the market. Some coins you might realize, okay, say is not really realizing its vision. Maybe you don't think they're executing very well. The team makes some mistakes. You can actually delete that off your watch list at certain points and add a new coin that you think's better. Like there's nothing saying the portfolio you build now has to be set in stone. But there's something to be said for starting to plan and having a system. Because once you have a system, then you can plug and play any old coins into that system. Once you have your watch list, have your Excel, it's easy to make small modifications versus overhauling the whole thing once every few months. It's better to just tweak it slowly over time. And I think it's actually very smart to make tweaks over time, because that enables you to be adaptive and it means you're not always stuck in old positions that might not be so favorable when there's new trends in the market. So always maintain adaptivity, but don't be rash. That's pretty much how I want to summarize that. I want to give a quick shout out to one of our official show sponsors now, which is SmartX. They actually did $5 .1 million in trading volume this week. So if you are looking to farm, they have a very good system which reduces the negative effects of impermanent loss, and in some cases can lead to impermanent gain across their LPs, across the networks Ethereum, Polygon, Arbitrum, BNB and Base. They recently just jacked up the APRs on Ethereum and BNB. They lowered them on Polygon and Arbitrum. So if you do want to look for some of the opportunities with additional multipliers now, you can look for example, on the ETH side on some of these pools, which have a higher APR. And as I said, it's not your typical AMM. They have a proprietary algorithm which makes impermanent loss less of a headache compared to other AMMs, for example, like Uniswap. And if you go onto their homepage of their website, and you click on simulate the algorithm, you can actually compare the performance of pools compared to pools on Uniswap. So you can scroll through and get some examples to see how SmartX actually works in practice, which is a nice feature as well. So there's a link in the description if you want to yield farm on SmartX, or even if you want to swap, it's also a DEX, of course, that can get you some decent swap rates too. And yeah, just another great week of trading volume for SmartX. So well done to the team over there. And looking forward to keeping on supporting you in the future on these shows. So I hope you enjoyed this video. I hope you learned something. And even if one person watches today's video and builds a nice system, and ends up benefiting that from that next bull run that it was worth my time because I think 99 % of people will be too lazy to do the stuff I talked about today. Because I get it, it's easier sitting back and being lazy. But for the ones that are willing to put in the time and be proactive, you're going to be the ones I think that end up really reaping the rewards of this. So well done to you if that's what you're about to do. And I will see you in my next show, which will probably be on Tuesday. See you later. Peace out.
A highlight from TOP Crypto Pick For 2024! (3 Low Cap GEMS with 20X Potential)
"Injective protocol, can it reach $100 per token? This project's been on an absolute tear over the year, up over 500%. So here's everything that you need to know about this protocol and why it could change DeFi forever. It's time to discover crypto. So what is Injective and why has it been pumping so much? Injective is an interoperable layer one blockchain optimized for building Web3 finance applications like decentralized exchanges, lending and borrowing protocols and derivatives markets. It is built on the Cosmos SDK, aka software development kit, and its Tendermint consensus architecture, which gives it fast and cheap transactions, as well as make the blockchain interoperable through the use of the Cosmos IBC protocol. It also uses Ethereum virtual machine compatibility. Injective is attempting to bring the low fees, speed and cross -chain trading of centralized exchanges into a decentralized permissionless environment. It was the first Cosmos blockchain to offer fully decentralized order book infrastructure. Now, Injective was founded back in 2018 by Eric Chen and Albert Chan, who now serve as the CEO and CTO of the umbrella company Injective Labs. They were first backed by Binance Labs. They then went on to raise over $50 million in three funding rounds. First in July of 2020, where they raised $2 .6 million in an initial seed round. Then they raised $10 million in an April 2021 funding round. And finally, they added an additionally $40 million to the pot with another funding round in August of 2022. They also did the Binance Launchpad in October of 2020, where they ICOed, selling 9 % of their total supply for 40 % of the tokens. Then in 2021, they released their mainnet and launched their smart contract platform. Injective has investors like Binance, Pantera, Jump Crypto, Mark Cuban and many more. Ignore Mark Cuban's NFT plays. The Injective blockchain holds decentralized order books, which provide liquidity to the DEXs, a trade execution coordinator and a bi -directional token bridge and EVM execution environment. Any DAP that is built on the Injective blockchain has access to all of this. And the blockchain is public, so anyone can build a DAP as long as it's approved by the governance. While some DEXs use an automated market maker formula to manage liquidity, Injective uses an order book model that is similar to centralized exchanges. This means that the DEX on Injective doesn't need gas fees, so users only have to pay market maker and taker fees using INJ. That is where the utility of the token comes in. There are tons of applications in the Injective ecosystem, but we're going to be just going into a few. Injective's most popular DAP is a cross -chain DEX called Helix, which stands out from the crowded DEX landscape by offering unique features like zero gas fees, stop -loss orders, trading history and reward tracking. These elements give Helix the positives of a centralized exchange with privacy and safety of a decentralized environment. Helix can natively support a ton of assets like Cosmos, Ethereum, Solana and Polygon, and has an easy -to -use interface where you can connect a self -custody wallet or send your assets to your Helix portfolio. And people seem to like using Helix because it becomes one of the fastest growing decentralized exchanges since it launched in September of 2022, when it reached over a billion in cumulative trading volume after just one month. So make sure you smash that like button if you're an INJ holder. Not only have you seen a 500 % growth year over year, you guys continuously change DeFi in a positive direction. Currently, Helix has over 13 times that cumulative trading volume across all its spot and perpetual markets. And Helix just launched its pre -launch features feature, which allows users to trade futures on tokens that haven't even launched yet. Now, this is probably part of the reason Helix is pumping, because this additional service allows users to speculate on upcoming coins without having to gain access to pre -sales or launch pads. Helix has marketed this as an attempt to level the playing field for the general public since venture capitalists and wealthy insiders are typically the only ones who have early access to projects. Now, what else is in the Injective ecosystem? Mito Finance is another one of Injective's popular applications. Mito Finance is a DeFi trading platform that aims to democratize finance and increase profits through automation. Mito utilizes smart contracts to bring algorithms typically used by institutional investors and hedge funds to the common man. You just sign up for a vault and earn rewards, and Mito also has a launchpad that makes token creation incredibly easy. Now, while that might not be my favorite application, it is true. Institutions utilize medbots and have ways they can profit that retailers will never be able to access in their lifetime. Thanks to yours truly, Gary Gensler, regulations get harder and harder for retail traders over time. And then there's FrontRunner, which is a decentralized sport prediction market. What's cool about FrontRunner is that it allows traders to buy and sell shares of sports propositions the same way you would buy stocks. Now, you could buy and sell these positions in real time as the odds change. Like I said, there's a ton to explore in Injective's ecosystem, so go to their website and see what you want to learn about more. Since its launch, Injective has been chugging along with one improvement after another. In January, Injective launched a fund of $150 million to accelerate the interoperability between blockchains to enhance DeFi adoption and expand its ecosystem. The following March, Injective launched a testnet for Solana -based apps. And then just a few months later in September, it released a testnet for its EVM layer. This is a two -part solution that will allow Ethereum applications to now natively run on top of Injective. The other piece of exciting Injective news is that Injective will integrate into Google Cloud's analytics hub, joining the ranks of major layer one blockchains like Bitcoin, Ethereum, and Litecoin. This means that anyone using a Google Cloud server will be able to interact with the data across the Injective network. CEO and co -founder Eric Shen said that the Google Cloud team has played an integral role in the growth of Injective since its inception, and that this latest collaboration will help take Web3 as a whole to new heights. Now, all of these developments have led to the price of Injective just going through the roof in the past few days, going between $7 and $8 at the beginning of October to now nearly $17 in just last week. So if you're an INJ holder, congrats, because your bag basically just tripled. Now, what's interesting to me is that while other crypto projects are struggling to regain just a quarter of their previous market cap all -time highs, Injective has already shot past that halfway point and isn't approaching a brand new all -time high. So this makes me wonder, is Injective not only going to break its all -time highs while we're still coming out of a bear market, but is it going to just surpass them and show significant gains coming over the next month? Other than being a great investment vehicle, what are other use cases for Injective? The blockchain uses a proof of stake model, so staking your INJ can help secure the network, and currently staking rewards are pretty sweet. Coming in at just over 16 % APR, you get to choose one of their 126 validators and start earning free INJ. Currently, there are almost 45 million tokens staked, about half of the circulating supply, and now remember that staking never comes with zero risk. So make sure you do your own research and don't go to staking your savings. Now perhaps one of the best reasons behind the INJ pump is going to be the tokenomics. Over the bear market, their vesting schedule released the majority of the supply into circulation. Now seeing roughly almost 89 % tokens in circulation, this goes to show that there's not a lot of dilution moving into this next bull run. So if we have all of this development, all of these DeFi applications, and all these integration, that means we can see INJ continue to push to new highs without seeing VCs and insiders dump on retail. Now other use cases include governance, and if you have a stake to INJ, you get to vote on new applications and the direction of the blockchain. INJ is also used for protocol fees, as well as developer incentives. Now there is one thing we need to be cautious about. The total supply could still potentially increase over time, because Injective uses inflationary emissions for block rewards. Currently, the block time is 0 .82 seconds. The inflation rate started at 7 % with a plan to decrease that rate in 2 % over time, but Injective also has a unique burning process that basically ties the percentage of INJ burn to the popularity of the protocols on its blockchain. So if Injective gains more and more adoptions, there's a chance that the token will become deflationary in the future. So what we need to be cautiously optimistic about is, is this inflationary pressure going to dilute the tokens moving into this next bull run? Because like I mentioned, there is not a lot of dilution coming from the early vesting schedules. So if we get burning mechanics on top of that for more development, I don't know what the right word is, but pomponomics is the kind of what comes to mind. So what makes their burning process so unique? Injective collects 60 % of the fees its platform receives from the users and puts them into a weekly auction and burn fund, where it invites people to make bids on those fees. Bidders have to buy the native token, INJ, and use that to make a bid on the assets that are on the auction block. Then Injective burns the final bids. This decreases the token supply and also drives demand for the INJ token. I know this is a little confusing, so imagine Injective auctioned $1 ,000 worth of an asset, and the highest bid ended up being $800 worth of INJ. Whoever won that bid would then have an arbitrage opportunity with the assets they've won, and Injective would then burn that $800 worth of INJ. This is why the level of Injective deflation is directly linked to the popularity of the protocols that use its on -chain order book. So what do you guys think? Do you have Injective in your portfolio? Do you think this is a pump and dump, or will INJ keep flying to the moon? So make sure you turn on those post notifications, leave a comment down below, and let us know your thoughts. Is Injective Protocol going to change DeFi forever? See you at the top. Thank you.
A highlight from Bitcoins Full Potential Value with Jesse Myers
"This sounds crazy, and I get that, $10 million per Bitcoin is what this resulted in, and I think it's kind of conservative in its estimates, and that's crazy. Good morning, everybody. How are you all doing? It is raining here in Bedford. It feels like it's rained every day this year, it's a nonstop rain. Anyway, it was a late night, I went out to watch Railbit for last night, and it won again. Still top of the league with a little gap opened up, as MK Irish were not playing. That's our men's and ladies' top of the league. And listen, if you've got nothing on this weekend, on Saturday before the football, we have got a Bitcoin meetup, and we're going to be joined by Robert Breedlove. Yes, I am getting Breedlove in Bedford, and we're going to do a meetup before the game. Talk about Bitcoin, money, a few other things. So come and join us, that's from 12 o 'clock at McMullen Park in Bedford. There will be pizza, beer, and soft drinks provided. Anyway, welcome to the What Bitcoin Did podcast, which is brought to you by the massive legends at Iris Energy, the largest NASDAQ listed Bitcoin miner using 100 % renewable energy. I'm your host Peter McCormack, and today I have Jesse Mayers, aka Crocius, from OnRamp Bitcoin on the podcast. Now in this interview, we get into his article, Bitcoin's full potential valuation, and we discuss what is causing Bitcoin's value appreciation and just how high it can go. Now, it was a very interesting conversation, and I've been following Crocius on Twitter for a long time now, and I really like his writings, so it was cool to get him finally on the show. Now, if you've got any questions about this or anything else, then please do hit me up. You can reach out to me as hello at whatbitcoindid .com.
A highlight from Cardano Summit Was Embarrassing Full Recap_01
"All right, so you guys asked for continued updates on a lot of these projects out there. Cardano is one that we're going to be doing today on their full summit and a breakdown of everything Charles was releasing, give you guys a full array of clips, much like what we did for the Breakpoint deal for sure. We'll just get started. I think you guys are going to love it. My name is Paul Baron. We'll come back in the Tech Path. All right, let's start off with a tweet. This came over from our friends at Digital Asset News for Ghostchain. They sure can throw a party. And of course, right there it is, man. If you look at what's happening at the summit, I've got some photos. One thing is for sure, this is a fantastic location. I love that over the water. Look at the size of this audience right here. These guys really did a good job there. Not bad. There's a lot of people there too. So very, very interesting to watch, you know, in the sense of seeing the clips kind of come together. Just to give you guys an update where Cardano has been here recently, this is the one -month chart right now, 35 % up on the one -month chart. Now, I want to get in on this first clip. This is Charles talking a little bit over about what has been going on over the past seven years. Let's jump to that clip. Welcome to Dubai. Oh, come on, that's not passionate. We had a great vision. We had kind of three principles here. Scalability. We cared a lot about it. Second, we had this concept of governance. And the third idea was interoperability. So if you think about what we've achieved over the last seven years, all these billions of transactions, millions of currencies, NFTs and other things issued on chain, hundreds of dapps, we have all these cool things that are either being incubated or already reached main net. So there's people from the Hydra project here to allow us to scale. We have roll -ups, all kinds of cool zero -knowledge structures, things like that. And when you look at this whole thing, you say to yourself, over the coming months and years, we're going to be all right, we're going to be okay. All right, so I want to jump to this next clip. This kind of jumps into a little bit about Hydra itself because he was kind of focusing in on that one. Let's take a look. There are a few people over the internets who are claiming that there's a great degree of dishonesty for myself in particular, but others in our organization about the throughput of Hydra. Three years have passed. We've all learned lots of things. So what does a thousand TPS mean? Would make sense in a video game. It would make sense in micro tipping. It makes sense for a variety of off -chain applications, but that's not where Cardano's at. So what happened over a three -year period is that Hydra pivoted a little bit and it pivoted into let's build some middleware. People kept trying to advertise in 2000, we have this many TPS and we have this many TPS. What we were trying to say is that's not how these systems work in practice, but we're also looking at roll -ups as an ecosystem, sidechains as an ecosystem, and yes, evolutions of Hydra because you don't have a channel that's running, I guess, spam transactions a thousand per second. Obviously, that's a failed project. Okay. Well, who needs that? Where's that going to come from? What use case is currently in the system that requires that level of throughput? So when people run around and say Hydra has failed, we lied about Hydra, there's no way to achieve any of these performance claims that are said, well, then what they're really doing is they're taking the hard work of dozens of people and everybody building on it and they're saying it just doesn't exist. There are almost 200 papers behind Cardano, a massive ecosystem of researchers and engineers. Were they all just wasting their time? Were all of them just doing nothing? Bitcoin would die to have what we have. And frankly, Ethereum is chasing it and they can't get there because of poor design decisions with the EVM and the account model. It's very easy through sidechains for us to borrow what they have. It's a lot harder for them to get what we have. Again, TPS, yes, I believe it does matter. It's going to be the ultimate game, I think, across all blockchain because at some point we are going to get into a scenario where transactions per second will be the most critical asset that any chain is going to represent. And we've already seen some scenarios of other chains out there that have been able to accelerate past that significant. I don't know if I would consider Hydra a failure, but would you? Would you look at Hydra and say, okay, it just isn't where they thought it was going to go. They talked about it. It did have to change. I'd love to get you guys' feedback. Let's go into this next clip, which is more around the governance of Cardano. Listen in. This year, a huge amount has been done with SIP 1694. It'll get done in one way or another. Might not look exactly the way that everybody thought. Might look that way. The point is that just like scalability, it's no longer a question of can we do this. We'll figure out a way to get good on -chain governance. Turns out that the things around cryptocurrencies are incredibly hard. There's a lot of moving pieces to them. And they're talking a lot about the roadmap of Cardano. So things like the budget, what ought we spend money on to be approved by the government of Cardano? If you want to speed it up, are you okay with spending another $10 million? Maybe five, two and a half, split the difference. Y 'all want Circle support, maybe we pay them. There's lots of stuff there, a lot of moving pieces there. It's complicated stuff. This is Cardano. This is one of the OGs in terms of the crypto space. In fact, probably should be one of the most advanced chains out there overall in terms of collaborations, partnerships. All those things should be well on their way, much like what we've seen with some of these younger chains. If you look at Solana or even Avalanche, both of which have been able to accelerate in their respective areas of interest, I should say. And then obviously the growth of Ethereum, it's not even a comparison. But I think the key here is you have to achieve it and you do have to integrate these kinds of collabs and or these integrations where this stuff starts to expand. And it does get the community on board. I think people would jump on board and maybe I'm wrong on that. Let me know if you guys think that. There's another clip out here that I want to go to. This is a Twitter space example of the community itself and what they were thinking about the current state of Cardano. Listen in. One thing inherently has been a curse for Cardano is our marketing capabilities. Like they're not interested in coming over here because every time I look on my Twitter feed, I see you shooting shots at somebody, so I'm like, goddamn, how is this supposed to work? Well, you know, I feel your pain, man. I really do. And then to have people say we're just a wallet and just to babble like incoherent idiots on Twitter and these other places and reduce it to like a Cardano versus Ethereum, dude, we're not competing with Ethereum. We're not competing with any of these things. We changed the entire game. Cardano is playing a completely different game. All right. So again, back to Charles, I would love to learn what the game is that they are playing because I feel like that most of the initiatives out there within blockchain are fairly clear. Yes, there's been a lot of things that Cardano has put out there that they've been able to achieve to a certain level, but there's also been a lot that they have not been able to get to. So it's kind of an interesting situation. And they're a community member kind of talking about we need to kind of ramp up the front facing side of Cardano. This next clip goes into interoperability. This seems to be one of the biggest things. But back to that clip was that they are. There's also always so much, I would say, discussion coming from Charles, in many cases knocking these other chains. I'm kind of curious if interoperability is impossible. Listen in. And this is really the core of what I'm talking about today is this idea of interoperability. This is something we don't talk too much about and we ought to. Interoperability is the difference between living on an island and living in a world. Interoperability is the difference between your software working and your software not working. We said, hey, this is a problem. We need to solve that. So we saved the best for last. Now let's solve interoperability. Let's teach the rest of the space how to do that well. What else did we do? We looked at Cosmos. We had a whole team of people doing diligence there. And we said, you know, if we take all these guys here, these things, Fabric, Mamba, the EVM stuff, the Yella stuff, if we really squint our eyes and think deeply about it, maybe just maybe we start pulling some things together. And you know what I said? It would be really cool to have a flagship product, something very special and very unique to showcase the power of that type of system. And we call it midnight.
A highlight from 1452: Exact Bitcoin Price After BlackRock ETF Launch!
"In today's show, I'll be breaking down the latest Bitcoin technical analysis and quoting the high priest of Bitcoin, the one and only Max Keiser, I just popped in from the other universe and I wanna tell you, the Bitcoin's already trading at $10 million per coin in that universe. We're all living in the past. As we approach the Bitcoin singularity in the cosmic now, we all see and live this price. The ones who never get there are incapable of seeing the truth, preach. Also in today's show, crypto analyst says the Bitcoin structure is bullish, predicting a parabolic rally for the king crypto. I'll be breaking down his latest targets. Also in today's show, breaking news, an Ethereum insider drops a bombshell. That's right, the ETH founder's fraud is bigger than the FTX fraud, according to this insider, quoting him here, Ethereum is the fraudulent elephant in the room in plain sight, 1 ,000x bigger than Sam Bankman Fried, Joe Lubin and Vitalik Buterin have been at the front with corrupt officials at the highest levels of federal agencies, such as Clayton, Gary Gensler and many more. I'll be breaking down this bombshell for you. Also in today's show, rich dad, Robert Kiyosaki, says Bitcoin provides lifelong financial security and freedom, that's right. Also in today's show, I'm gonna be sharing why Bitcoin will 10x from here to $350 ,000 per coin, according to the one and only giga Chad, Michael Saylor. Also in today's show, I'm gonna be sharing with you the exact Bitcoin price after the BlackRock ETF launch, which we all know is inevitable. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. All on mine.
Rich, Successful, and Childless With Alex Berenson
"Alex, you have a great piece out and I want to plug your sub stack unreported truth. Everyone should go to his sub stack and support it about birth rates, having kids. What did you learn in the series of this doing this research? So, I mean, this is something as I write in the sub stack that I'm going to come back to because, you know, it's a it's a it's a vital issue. And I mean, you can argue it's the most important issue, right. You know, Elon Musk may want to take us to Mars. But right now, if you look at birth rate trends and it's not just in the U .S. or Europe, it's sort of in every rich country. They're they're low and dropping low, meaning below the replacement rate. So every woman has to has to, on average, have slightly more than two kids or or the population will start to fall. And actually, I remember in January talking to Elon about this and he said, you know, the demographers make the math really complicated, but it's actually quite simple. Look at the number of children who are born and multiply that times eighty five. And, you know, that will give you, if nothing changes, the number of people a country will have in in eighty five years. Right. At the at the end of the average life of a child born today. So a country like Taiwan, Taiwan has about twenty three million people in it. And this year it's going to have about one hundred and thirty thousand children born. So one hundred thirty thousand times eighty five is about 10 million. So what that tells you is if nothing else changes, and the children of Taiwan who are being born today actually have the replacement number of kids in eighty five years from now, Taiwan's population will be less than half of what it is today. And I mean, that's that's really unbelievable. Right. And actually, you know, in South Korea, it's worse in Japan. It's nearly as bad in southern Europe. It's terrible. Northern Europe is a little bit better in terms of the rates, but they're going down there. The U .S. is a little bit better, but we're below replacement. But this is it's not just again, it's not just sort of, quote unquote, white, wealthy countries. It's South America is like these countries that you wouldn't even expect. Like Saudi Arabia, for example, is barely above replacement level. All over the world, people are choosing not to have children. And, you know, you think about think about Japan and Sweden and Australia and Canada and Germany. These are countries that don't necessarily have that much in common, aside from the fact that they're, you know, they're they're they're wealthy. Their cultures are very different. Their attitudes towards women in the workforce are very different. They're, you know, they're their religions are different. Their languages are different. Their ethnicities are different. I mean, one of the things they all have in common, actually, is that they're they're having this stunning trend towards very few kids. So it's it's something that actually crosses cultures. And if you think about, you know, what is the like what is the ultimate biological goal of any organism? It should be to produce, you know, reproduce to get your genes to the next generation. Somehow, something is happening worldwide that is bigger than culture and bigger than what should be our most basic drive to reproduce.
A highlight from How Bitcoin Fights Tyranny with Erik Cason
"If I'm not wrong about Bitcoin, then I believe that this is the most radical apparatus that has ever put its hands in humanity, and that is the only thing that can save us from the potential annihilation of total war that we are eking towards closer and closer every day. Hello there. How are you all doing? Hope you're doing well. A few things to update you on. Firstly, travels over the next month. We'll be heading out to Fort Worth, I think it's next week, two weeks, I can't remember, for the North American Blockchain Summit before we head out to Ghana to attend the Africa Bitcoin Conference in December and to make another film. It's going to be very busy. We've also announced our conference in Bedford in April next year. Please do go and check that out, cheatco .co .uk. Anyway, welcome to the What Bitcoin Did podcast, which is brought to you by the legends at RS Energy, the largest NASDAQ listed Bitcoin miner using 100 % renewable energy. I'm your host, Peter McCormack, and today we have Eric Cason making his debut on What Bitcoin Did. Now, Eric has been around in Bitcoin for a long time and recently dropped his book, Crypto Sovereignty, in which he expands upon a lot of his writings over the last few years. Now, I absolutely love this show, but not as much as our boy Danny. We've made a few more philosophical shows over the past couple of years, and they are among some of my favorites. I love getting into the wild stuff, especially with someone like Eric. Now, he claims he isn't a philosopher, but have a listen. I think you'll disagree. And all I know is Danny absolutely loved this. It was his favorite show, I think, this year. So I hope you enjoy this one. If you've got any questions about this or anything else, please do get in touch. It's hello at whatpikwondid .com. Danny is like all week, he's like, all right, I cannot wait for the Eric Cason to come on. It's going to be completely fucking nuts, but you're going to love him. That's a pretty good - That pretty much sums it up. Yeah, it's a pretty good synopsis of who I am. Well, look, welcome. Good to finally have you on the show. It's been a long time coming. Do you know what's funny in the last one? So we do notes for the shows, and sometimes I don't even refer to them, but sometimes I do. But I'd opened Eric's notes, and I was looking. So I had Mark Masson, and I was like, so you just dropped a book? I was like, has he just dropped a book? Did you have - No, I did switch it around, but I did have the wrong notes. Anyway, Eric, how are you? I'm good. Strung out from the concert, but you know, or from the conference. Well, in the conference, I went to a concert last night too. Who'd you go and see? Tinlicker. They're part of the Anjunadeep label. They're like a big, they're pretty big in the UK, actually. What kind of music is it? Deep House. Yeah, that's not my thing. Yeah. Yeah, I listen to Slayer and Megadeth and shit like that. Congratulations on the book. I haven't read it. Thank you. It's been a long time coming. I've read some of it, but. Danny usually gets them read in time, but yeah, congratulations. Tell me about the book first, and then we'll get going. Well, the book, it didn't start as a book. It just started as a series of essays that I was just kind of writing, exploring philosophical and sociological content of Bitcoin. And sort of as I got deeper and deeper, I was like, whoa, there's like all these threads sort of connecting. So the book I can really say is more of like a constellation of a greater incomplete work that I'm sort of working on now, that's trying to essentially do an entire philosophical approach towards, I guess what we call it, called like the sociology of cryptography or something like that. We did consider doing mushrooms for this episode. Well, I mean, it would be really nice, but then I got to get on my flight kind of all weird and stuff. I'm just not sure how that would go with TSA. I've had some close calls like that before. I don't really do mushrooms as well, so I'd be completely lost. I don't do acid on planes anymore. Oh, anymore. Yeah, there was an incident once. So I decided I was like, it's time to throttle back on that. Really great way to pass eight hours on a plane. Yeah, please tell me. There's not much to tell you. Cause everybody's always like, you're going to take it, you're just going to flip out on the plane, right? No, like you sit down and you're like, I'm going 600 miles through the air, 330 ,000 feet in the air. Like this is amazing. And if the plane just burst into flames, I'm going to meet God now. It doesn't matter, I can't do anything. So I'm just going to look outside and see all of the amazing mountains and the clouds and how incredible and extraordinary it all is. Did you see that guy get dragged off a plane recently? It was going to Ibiza and had to do an emergency landing, I think in Marseille and they dragged him off the plane cause he was off his nut. No, I didn't see that. Absolutely off his nut. Probably like a weekly occurrence from there. Yeah, I was thinking, what are you doing, doing drugs on a plane? Yeah, yeah. So, you know, I decided that I was getting it a little too close. So we're not doing that anymore just for me and everyone else's safety. Just the gin and tonic will do. Exactly. So what's your philosophy background? I don't have one. You don't have it, even better, okay. But you are a philosopher. No, no, I'm not a philosopher at all. I eschew when anyone tries to call me a philosopher. Maybe I could pass for a thinker. I always say I'm a strategist at best, so. How do you get class as a philosopher? Isn't that a choice? A class? Well, no, essentially like this was all compelled by, when I got into Bitcoin, I had this moment that I was like, how is it possible that this piece of technology can keep its oath to itself in a way that like no man, no institution, no government, no organization seems to be capable of? And it was like a splinter in my mind. And I was like, all right, really smart people have thought about this before me. So like, let's do some Googling about the oath and the philosophy. And I came across this philosopher, Giorgio Ambogon, and I got a book of his called The Sacrament of Oath, The Archaeology of Language. And it's really, really good. It's like the fourth book in like a nine book series called Homo Secur. And now I've read the whole series. And essentially in it, like he's doing a whole archeology of like, what is the oath? How did it function? How did it come about? And he kind of like goes all the way back to pre -Roman times. And he was like, the oath really is like this object of language that fuses magic, religion, and words into a singular that actually has nothing to do with the content that's spoken, but it has to do with the actualization of what's been promised. And so this then marries up with an individual called Homo Secur, who's like the forsaken man throughout human history, who all legal systems have always given themselves a right and a decree to destroy these people, but it's not murder. And most interestingly is that these people can't be used in sacrifices ritualized either, because it's about putting them outside the purview and the protection of the gods. So like they can't have anything to do with religion. And what's pretty interesting is that like, essentially there have been these like non peoples throughout human history that could always be destroyed by the state because of the way that like they're the other bad people. And they pose a threat to the entire system. So like they must be destroyed. And so following the lineage of that person, I kind of like connected that up to modernity and seeing how like now we live in a constant state of emergency where like any of us can be labeled as a terrorist or any enemy combatant. And not only like, do we just not, not only are we in prison, but like access to the law itself is fundamentally impossible. Like we can't even get habeas corpus. So yeah, it's been a pretty interesting journey. And then there's like 10 other philosophers that like on the concourse of it, he like mentioned that and I have to like go on the journey to read them. And I'm also dealing with like a lot of, like a lot of these thinkers you can't approach in academia because they're like solely with backgrounds either in like communism or like radical fascism or other things. So like the moment that you start reading them, people are like, you got to get out of academia. Like you're not welcome here. Why? Specifically so like Heidegger for example, Heidegger is really solely because not only did he belong to the Nazi party, but it seems like a lot of his philosophy actually deals with trying to like actualize a political party that explicitly can identify friend and enemy classes for like the evolution of that political ideal. And so in my opinion, dealing with Heidegger and understanding him very intently so that you can make a criticism of him is essential. Like if you actually want to make your way through the course of phenomenological philosophy and like actually like make your way past Heidegger. you So are saying there's like a whole class of philosophers or philosophy that is essentially kind of censored? Absolutely. One of the guys that, a more contemporary fellow, his name is Michael Norman. He was from the University of Toronto, but brilliant, brilliant scholar. He was studying Heidegger like pretty intensely and he essentially got canceled from the University of Toronto and was intimidated and sort of forced out. It is Canada, it's not surprising. We're ragging on Canada a lot recently. Have you registered yourself yet? We don't have to yet. Okay. Yeah, because we don't make $10 million in revenue, but if there's a bull market, yeah, no, it's the platforms and if you make more than $10 million. I don't know if that's podcast in Canada or anyone. What do you mean as in based in Canada? Like, do you have to be based in Canada or if we want to disseminate our content in Canada? Don't know, probably based in Canada, I would guess. I would have thought the latter actually, because otherwise how can we control you? Well, we don't make $10 million yet, so. Yeah, we're close. After this pod though. Nine and a half million. Okay, so what, the background is they're seen as dangerous words? Yeah, I mean like another floss for I deal a lot with is Karl Schmidt. And so like Schmidt was like a, he was a member of the Nazi party and specifically what I think is the most damning of Schmidt is he actually wrote the legal defense for Hitler during the night of the long knives that essentially justified why that state of emergency was used and that really sort of solidified from a legal perspective that like Hitler's decree was the law itself. And interestingly enough, like Schmidt was actually arrested and in prison for like three years to go and trial at Nuremberg, but they just eventually felt like he didn't have enough evidence. And the biggest irony is that Schmidt actually wrote in, I think it was in 1931 on the concept of the political. And this specifically was talking about like the crisis that the Weimar Republic was facing and that essentially if Chancellor von Hindenburg didn't use the clause of article 38 in the constitution to declare a state of emergency and banned both the Nazis and the communists, that the Weimar Republic would be in crisis. So ironically enough, this didn't see its way into the hands of the chancellor. And so when he was ousted and Hitler came to power, it turned out Hitler was actually kind of a fan of Schmidt's work and Hitler read it and he was like, ah, that's like clause 38 thing. Like this is what we use to destroy the Weimar Republic. Okay, so what do we lose by limiting the kind of scope of books that are studied? I mean, everything, like that's sort of the contextual space that we can have to actually criticize these works. So like look like Mein Kampf should be read not because it's brilliant, but because it's absolutely stupid. Okay. Like it's just an idiotic framework. And like, as soon as you read it, you go, oh, like this Nazism thing is actually like really stupid. Like there's not really much substance to it. I mean, even in the Nuremberg trials, when they asked Schmidt about Hitler, he like sighed and was dismissive. He was like, I can't even discuss his ideology because I find it so superfluous. Well, what is the TLDR? Cause I haven't read Mein Kampf. I doubt, have you read it? I know. I doubt I will. The TLDR is essentially that like Aryan individuals have a superior place in the world because they lead German culture and German culture has helped develop the West on a whole. And that that needs to be defended against all the individuals who aren't part of German culture that are invading Germany. And we need to get lunch in Rome in order to expand German culture and people. And that we always need to be aggressive and warring against the other people that are trying to come into us. And so like, we need to expand the Aryan people as much as possible, make as many of them and destroy anybody that tries to threaten that. So it was elitism. Elitism fused with a general nationalism that then wants to try to create a hierarchical order of people. Right, okay. And so how have you picked the rabbit hole for you to go to that eventually gets you to crypto sovereignty? It's pretty interesting. Well, so like after the Occupy Wall Street movement, like I was exposed to all of those things and it was very clear to me that money was substantially broken. And it was also very clear to me that we couldn't use the political system to make that operable. So for me, I just fell into a crushing depression where I was like, there's no conceivable way to solve any of this problem. Like, how do you neutralize this money problem that's so endemic? So like in my crushing depression, I was just like, well, like maybe, maybe that's it. Maybe I just need to like end it. There's like no good. We can never make anything happen. So I had like, somebody had essentially like whispered to me at Occupy about Bitcoin and how this was like the answer. What year was Occupy? Was that 2011? 2011. Okay. Yeah, so this was like early 2012 that like all this stuff was percolating. And so I like looked up some stuff about Bitcoin and I was like, oh, like this was really interesting and kind of let it percolate a little. And then I came across an article about people that were essentially like doing money laundering in between China and Singapore, like using Bitcoin. And I had wrote my senior thesis at university on the East Asian financial crisis and capital controls. So I was like really intrigued. I was like, capital controls are really powerful. And if you can get around the Chinese communist government capital controls, like pretty that's essential. So like now the Bitcoin thing had really sparked up for me and I was getting into it, reading a lot more about it. But there was all of these like lingering questions about like, how is this even working? Like I get it technologically, but like why, why can't I make a money when like no government can adequately make a money? Like, and then I did the research on the cypherpunk stuff and I was like, oh, okay, this is making sense. And then from Occupy, I'd really gone from being like a far left socialist or communist to like a full on anarchist. And that's really kind of the change that I went under Occupy. And so for me, anarchism was like a sufficient inoculation to be able to like explore both radical communist and radical fascist theory and be able to kind of pick and choose what works for me, what doesn't work for me. And I think that that piece of being like inoculated vis -a -vis anarchism, because to me it was like, I admit that the state is an apparatus of violence and we can't use it at all. And like both fascism and communism see those as key components, but like what else can we maybe learn from these theories? Like, is there anything of value here? And in my opinion, there's a lot of valuable stuff. It's just understanding where all of the pitfalls are and then how it essentially becomes a violent apparatus of destruction vis -a -vis statism and the authority that it tries to decree to people. Okay, so that shift from radical socialism to anarchism, was that like a, was that an actual shift or was that an evolution of your ideas, your worldview, where you actually realize what it is you, the issues you have in the world or complications the you see or the problems you see with the state, actually you thought socialism was a solution, but it really is anarchism, potentially. Yes, and like the actual like point of change was when I was in Philadelphia, like the Occupy National Gathering, and we had assembled at the Peaceful Assembly monument that's on the National Monument Mall, and the police told us to like get lost. And we're like, no, you don't understand. This is like the freedom to assemble memorial. They're like, we're telling you. And I was like, but you don't, then they got the tranche on that and started beating the shit out of me, right? Right on top of the memorial too. And I remember like, as he's like hitting me, like I have this thought, I was like, oh, like the state is not my friend. Like these people aren't gonna help us ever. And that was kind of like my big radical shift in understanding that like the state wasn't actually this thing that was gonna help us out. So what brought you to radical socialism then? What is it about you? So I grew up in the Western United States in California. So I grew up in woo woo, liberal California with everything feels really good. And like one of the really important things about socialism I wanna honor is like, it feels really good. Like this was like a really great idea that we want everybody to understand and get on board with. We should like share stuff that's like important. And there's like a common in community. I think the problem is that all of those feel good feelings, those are ots as opposed to like what is. And like what is is as good as we have those feelings, like there are very real limits to what we can provide. Like as much as we do centrally plan something and saying, we're gonna provide this for everybody, there is actual corruptions and limits to it. So I think for me, that experience of getting beaten was understanding that as much as this shouldn't be happening, it is. And why is it happening? And why do things like this happen? And for me, it was realizing that like, oh, this like apparatus of violence where people decide that like, hey, if you don't do the thing I tell you, I'm gonna hurt you, which seems like a really basic thing. But I really realized like kind of starkly, I was like, oh, like, this is the thing that like runs the entire world is like this entire module of punishment and discipline and trying to create an orderly world, which it does really, really well, but there's all these tertiary issues that come out from it that aren't really well connected to it. Such as? Well, such as if we want to look at the largest polluters in the world, like it's the US military. And so like, there's this endemic problem of that. Violence is a very real and endemic problem, but violence on a state -based level is a whole nother game. And that's one that we all comply to and act like it's a totally normalized thing that if somebody just doesn't comply, that using violence to get their compliance is good. Well, it's slightly different where we're from because we don't have guns. So they might hit you with a truncheon, but it's very rare that a police officer shoots someone. It's a big deal when that happens. Yeah, it's a huge deal. It usually leads to some form of protest. We had riots in South London a few years back on the basis of it, there's a massive investigation. There's actually a situation at the moment recently where a marksman shot somebody and killed them. And he's now being tried for murder. And a number of the, cause we don't have many cops with guns, we have some, we have like armed response or at the airports, a number of come in and handed in their guns because they don't want to run the risk of having to use their gun in the line of work and risk being tried for murder. Well, are you held accountable, just like a normal citizen who chose to shoot somebody? It depends on the situation, but every shooting will have an investigation. But this one, I don't know the details of it, but I just know he's now going to be tried for murder. And that's particularly rare. I couldn't even tell you the last time that's happened. I would say most of the time they're not treated the same way. Okay. Cause like here in the United States, like police officers get certain immunities for when they use their gun, particularly if like they say like, I felt like my life was in danger. And I think like there's only been like 21 officers like convicted throughout the history of the United States, like being put on trial for murder, like using their gun, like while in action. And so like, that's like a massive imbalance. And so to me, again, like the problem, the state is essentially saying, hey, there are people out there that can use their firearms. They're going to get special protection under the law. And they're also going to have a very cozy relationship with the prosecutors when they do come to do that. And to me, like this is a pretty gross abortion of justice. And it also communicates very clearly to police officers like, hey, if you shoot somebody in the line of duty, probably aren't going to be held responsible. So it's the monopoly and violence that, I listened to a podcast, I can't remember who it was. It might've been Sam Harris, I know he won't be popular. And I'm sure he was arguing that the monopoly of violence was the best thing we gave the government because it leads to net less violence. That's, I'm just telling you, that's what I read. But when I heard that, and I thought in terms of the United States, I thought actually that might be less true. I think it's potentially more true in the UK. It's interesting that there's that dynamic that sort of exudes itself. Because we don't have guns. Yeah, and I think that that's a pretty interesting example because yeah, the monopoly on violence, we could say in theory is working out pretty well there. And when we look at the United States, we'd say, ah, not having a monopoly on violence here doesn't seem to be working out so well. But I'm purely guessing. I could be entirely wrong. But one of the main problems is that like, all right, that works for a specific limited duration, but now we end up getting ourselves into Germany in 1930. We disarm the whole population. Like, hey, this is really great. There aren't any more firearm deaths. Now we have a population that we don't really like, that we start bullying a whole bunch. Turns out we really don't like them and we want to steal all their stuff. Turns out we actually hate them entirely and we don't even want them to be German citizens and we want to extinguish them. And so now we're talking about the wholesale murder of 2 million people.
"AI related tokens down on Biden's EA." Nov 01, 2023
"It's 8 a .m. Eastern, November the 1st, and this is your daily crypto report. Bitcoin is down slightly at $34 ,405, ETH is down slightly at $1 ,798, and Binance Coin is down slightly at $224. Well, AI -related tokens in the crypto markets have seen declines of 4 to 7 percent in the wake of President Joe Biden's executive order on AI addressing potential benefits and risks. The order aims to ensure responsible AI use while addressing concerns such as fraud, discrimination, and national security threats. Critics say it could stifle innovation and impose burdensome reporting requirements, comparing it to public company reporting for startups developing large AI models. The order's success will depend on executive branch agencies and potential legal challenges. Well, Bruno Brock, the founder of blockchain protocol Oysterpearl, has been sentenced to four years in prison for tax offenses. He pled guilty in April of 2023, admitting to causing a tax loss of over $5 .5 million. He was also ordered to serve a one -year supervised release. He initially faced charges in 2020 from the IRS and the ICC with assistance from the FBI and Commodities Future Trading Commission. He used a coin mixer to hide the true destination of crypto on the blockchain, then transferred funds to family members, friends, and himself. He made millions from an initial coin offering of the PRL crypto in 2017, but didn't report the income accurately, falsifying tax returns, and then using the $10 million from the proceeds to buy multiple yachts, real estate, and home renovations. He also admitted to minting new PRL tokens in violation of promises made to investors. Well, police in Taiwan have busted a crypto -related money laundering operation involving $324 million USDT. The case is linked to an investment fraud scheme uncovered in October of last year. The investigation revealed that victims were instructed to transfer funds to dummy accounts, which were then funneled to overseas crypto exchanges or individual traders. Police have made several arrests in the case. And finally, DeFi protocol ONIX has suffered an exploit resulting in a loss of more than $2 .1 million. The attack was on ONIX's code base involving an integer rounding issue and a flash loan. The attacker borrowed a substantial amount of ETH through a flash loan, exchanged it for Pepe tokens, and manipulated the exchange rate by donating them to a specific pool. Due to the precision loss, the attacker could withdraw more than the underlying asset by burning fewer shares. The attacker then transferred 700 ETH to the crypto -mixing service Tornado Cash. Well, that's all for us today. Visit us at dailycryptoreport .io and listen to us everywhere else you podcast under Daily Crypto Report.
A highlight from $1.96 Billion Crypto Powerhouse! (What You Need To Know About Compound)
"Listen up, folks. I need you to stop saying yes to crappy 0 .1 % interest your bank offers because, frankly, they're making billions and robbing you blind. And that's why I'm here to tell you about Compound Finance and its native token comp and how it could be the best way to make your money work for you. But be careful. This video may make you never want to use a bank ever again. It's time to discover crypto. Compound is a permissionless and decentralized finance protocol that was founded by Robert Leshner and Jeff Hayes back in August of 2017. And about a year later, the Compound protocol launched on the Ethereum blockchain. It started out with $25 million raised in a seed round in 2018 and $8 .2 million worth of venture funding that was raised at the end of 2019. Compound has notable investors like Bain Capital, Coinbase, Dragonfly Capital, Polychain Capital, A16Z and Paradigm. Then, in the midst of global lockdowns, Compound ICOed in June 2020. ICO means Initial Coin Offering, which is similar to an IPO in TradFi land. Initially, 42 % of the tokens were allocated to liquidity mining, about 24 % to shareholders, 22 % to the founders and team, and then 7 .7 % to the community and 3 .7 % to future team members. Within 5 days of the ICO, the price of Comp jumped to over $300. And at the height of the last bull run of 2021, one Comp was worth over $900 USD. Comp has a total supply of $10 million and its circulating supply has reached almost $7 million. Comp is inflationary and with a little over 1 ,200 Comp emitted per day, Comp is estimated to reach its maximum cap around July 2024. These emissions are distributed to the protocol users, half going to suppliers of the assets and the other half to the borrowers. Other than holding Comp as an investment vehicle, you can also use it for governance, submitting and voting on proposals. Okay, so let's talk a bit more about what the protocol actually does. But before we do, make sure you like this video, subscribe to the channel if you haven't already. Compound creates money market funds in the crypto space, pulling tokens from users with algorithmically determined interest rates based on the supply and demand for the tokens. So if a lot of people want to borrow USDC, but not a lot of people are lending, the interest rate goes up and vice versa. Compound uses smart contracts, which are autonomous decentralized digital contracts that automatically execute tasks once a certain requirement is met. Compound smart contracts allow peer to peer borrowing and lending directly without a centralized intermediary like a bank or the mob. But who am I kidding? They're basically the same thing. When you lend an asset on Compound, you receive a new asset representing what you're lending. For example, if you lent USDC, you'll receive CUSDC in return. You can supply tokens through the protocol and earn a return as well as take out a loan. And Compound covers its expenses by taking a small percentage of the interest earned. Compound was also one of the first platforms to introduce yield farming, which means users lock up their tokens to earn rewards. But you may be thinking, wait, didn't a ton of lending platform just go into bankruptcy? Looking at you, Celsius and BlockFi, why is Compound better? Well, remember, those other companies were centralized entities, not to mention their loans were under collateralized and the management of those companies made really bad investment decisions with their users funds. The collapse of these companies actually leaves Compound in a rosy light because it shows exactly how much collateral protocols need to demand to provide sustainable loans. With a decentralized platform, the community votes on the direction of the protocol. So there's less opportunity for the greed and recklessness of the few to completely wreck the life savings of the many. But remember, I'm not recommending you put your life savings into any one platform. In fact, I'm not recommending anything. This isn't financial advice, and you always have to do your own research and practice proper risk management. There's no way to earn yield on crypto that is 100 % safe. But Compound has almost $2 billion total value locked with $2 .34 billion of collateral that's backing $889 million worth of borrowing. That's about 1 .5 times the amount of the loans that Compound has given out, which means the platform will be able to weather the ups and downs of the bear and bull markets. And funnily enough, BlockFi, Celsius, and Compound were all founded in 2017, and yet Compound is the only one who made it out of the dark depths of the 2022 bear market, alive and kicking. Plus, Compound doesn't require KYC or identity verification, so you can borrow or earn interest without giving away your priceless personal information to an entity that could really do anything it wants with your data. But another reason we think Compound is worth talking about is that it's been vigorously audited and verified in comparison to the other decentralized lending platforms, which means Compound is attempting to make your assets as secure as possible. And Compound is so concerned about security that it takes every opportunity to learn from the mistakes of other protocols. Back in October 2022, Compound paused the supply of YFI, ZRX, BAT, and Maker to protect against market manipulation attacks after a Comp governance proposal called out the low liquidity for these tokens and potential vulnerabilities for the platform. And after Ave experienced an exploit attempt back in the fall of 2022, Compound passed a proposal that imposed loan limits and introduced borrowing caps for certain coins in an attempt to lower risk. This brings me back to how important the open source decentralized governance is for the safety of Compound. The community has the platform and the user's best interest in mind and work together to protect them. Compound has been quietly building over the past year in anticipation of the forthcoming bull run. In May 2023, Compound announced it would now be available on Arbitrum, which is the largest layer two scaling solution in terms of total value locked. For now, you can only use ARB, GMX, Wrapped ETH, and Wrapped Bitcoin to borrow USDC, which is another tip by Compound to manage risk on its platform. And if that wasn't enough hype for you, Compound also recently launched a mechanism called Encomber, which allows users to retain ownership of their tokens while granting other users the right to transfer their tokens. This is a huge milestone for the platform because it provides a ton of potential use cases. Obviously, this assists the current lending markets because users can encumber their tokens as collateral to lending markets, allowing them to maintain custody. This also creates an opportunity for trading where a user could encumber their tokens to a logic contract that has the option to buy the tokens at a certain price. And if that price isn't met or the contract expires, the tokens never leave the seller's account. But I know there are countless potential use cases for this technology, and I'm excited to see where it goes. The other big piece of Compound news is that the founder resigned over the summer. You think that would make investors nervous, but funnily enough, it had the opposite effect. The price of Comp skyrocketed from a low in June around $26 to a high in July of almost $80. That's almost a 3X during the bear market, folks. Robert Leshner, who you'll remember as one of the Compound founders, resigned as CEO to focus on his new business venture, Superstate Trust, which is a fund focusing on short -term government bonds, government agency securities and other government -backed instruments. Leshner had already raised $4 million from a variety of DeFi investors when he made this announcement. And the coolest part about Superstate is that it plans to use Ethereum blockchain as a secondary record -keeping tool. This seems to mean that the shares in the fund will be recorded on ETH. Leshner wrote, This statement implied that Superstate shares might eventually be available on Chain, causing rumors to run rampant that Comp holders might receive an airdrop of Superstate tokens. If you want to pick up some Comp, you can get it on various centralized exchanges like Binance, Coinbase and Kraken, or you can check out decentralized options like Uniswap or SushiSwap. I think Comp is a sleeping giant that will crush the next bull run. But I'd love to hear what you think. Are you an investor in Comp? Do you think you'll go back to its all -time high in the next bull run? Or will it soar past to the moon? Leave a comment below and tell me what you think. And I'll see you at the top.
A highlight from 1444: Prepare for $10M Bitcoin Price Tsunami - Michael Saylor
"Happy stat stack and Saturday. Welcome to the number one daily Bitcoin pod. In today's show, we have a lot to cover. I'm going to be breaking down the latest Bitcoin technical analysis, as well as breaking news. Eighty four percent of all the Bitcoin supply has not been moved in over six months. Let's frickin go. Also, Bitcoin hashrate explodes higher to five hundred and forty five quintillion extra hashes per second. A new record quoting the high priest Bitcoin. The hash adjusted implied price for Bitcoin is now in the mid three hundred thousand dollars. Send it. Let's frickin go. Also, breaking news. Alex Jones lost ten thousand Bitcoin and a stash gifted by the high priest, Max Kaiser. But Max Kaiser says he can regain it by doing a quiz. That sounds pretty damn good. Wouldn't you say? Also in today's show, Wall Street Journal corrects their article, citing Hamas crypto terrorism funding data, which we all know is nothing more than Bitcoin FUD. Also breaking news. Crypto rug pulls leaves hundreds of Central African Republic investors penniless. That's right. There is a reason why El Salvador is the standard for nation state Bitcoin adoption. You can say that again. Also in today's show, the SEC is considering eight to 10 spot Bitcoin ETF applications. According to their chairman, Gary Gensler, I'll be breaking down the latest updates with when these approvals are likely. We're also going to be discussing the latest from Michael Saylor. He says, prepare for a Bitcoin price tsunami. I'll be breaking down his 10 million dollar Bitcoin price prediction. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show.
A highlight from Brain Science in Elders Quorum | An Interview with CK Bray
"Have you ever heard of scrupulosity? This is a mental health concern that is impacting more Latter -day Saints than you think. Scrupulosity is religious, obsessive -compulsive disorder, where individuals are hyper -obsessed about their worthiness and repentance. Sam Baxter, a former bishop, sat down with me to talk about his lifelong struggle with scrupulosity and how he got treatment. You can watch this interview for free in the Mentally Healthy Saints library by going to www .leadingsaints .org slash 14. This gets you 14 days free access to Sam Baxter's interview about scrupulosity and 25 plus other interviews about ministering to those who struggle with mental health. The content is priceless for leaders, so visit leading saints dot org slash 14 for free access. All right, let's go around the room, do some introductions. I'll start. So my name is Kurt Frankham. I am the executive director of Leading Saints, which is a 501C3 nonprofit organization, and we are dedicated, you know, have a mission here to help Latter -day Saints be better prepared to lead. Now, me personally, I live in Stansbury Park, Utah, which is in Tooele County. I grew up in West Valley City and have been running Leading Saints really since 2010 when it started out as a hobby blog. 2014 is when the podcast started, and now we are over 10 million downloads. And, man, we're glad that you are now one of those downloads. Let's jump in. Hey, a big shout out to Michael Plowman in Gilbert, Arizona. He's been helping me line up some phenomenal guests as of late and, you know, that's all it takes. A simple email from time to time, and I get a lot, but be patient with me, and if you submit a recommendation of maybe someone I could interview or talk to here on the Leading Saints podcast, you might be surprised when they just pop up on the podcast feed. And today, thanks to Michael Plowman, he connected me with Dr. C .K. Bray. We call him Chris Bray here at Leading Saints, and he also lives in Gilbert, Arizona. A phenomenal individual. He's been Eldersport President three times. Also his day job is he researches the brain and helps organizations better understand what's going on in our skull to simulate better culture and all that good stuff. I might as well just read his bio here on his website. It says, Dr. Bray is a cognitive behavioral researcher. He specializes in change, adaption, human performance, and potential, and their impact on organizations and individuals. He bridges the gap between science, research, and organizations, and is known for his ability to take complex research and make it understandable and applicable to clients. He does the same thing for Latter -day Saints in this episode. He has a PhD in organizational development and learning, a second PhD in industrial organizational psychology with an emphasis in the cognitive sciences. So it's such a blessing to have Chris Bray on the podcast. He has his own podcast as well that I will link to in the show notes called The Dr. C .K. Bray Show. There are 20 -minute episodes that just help you learn all the brain science and help you succeed in life and in your career or whatnot, and obviously it's very applicable to church stuff and leading in the church. So it was fun to sit down with him on this episode, listen to the... He talks about how do you stimulate change in an organization? Like what does that even look like? And how can a church leader approach their organization, their calling, in a way of stimulating change? Because really that's at the essence of what the gospel is, but is it really happening? And how can we stimulate it more effectively? And then the power of resilience and leading and teaching people how to be more resilient is worth it. And definitely stay tuned for those little ideas that Chris does as an elders quorum president with his weekly ministering visits as an elders quorum president, his getting men outside of the elders quorum room and getting them serving in the community, not necessarily as ward members or quorum members, but as community members, just really powerful stuff. You're going to love it. Let's get into it. Here's my interview with Dr. C .K. Bray.
A highlight from The UPSIDE To A Down Real Estate Market
"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. Julie, what the heck is the upside to a down real estate market after all? Well, I know there's so many negative headlines and doom and gloom and the number of sales has crashed and this and that and the other, but there are some upsides to this market. And let's do down, let's define what a down market really is. Sure. Because as we've been sharing with you guys the last couple of weeks, it looks like this is indeed going to be the worst real estate market in terms of home sales of our lifetime. So for those of you who just got your real estate licenses, evidently you didn't get the memo. What were you thinking? We're just kidding. Because we think a market like this creates the most opportunity for agents that frankly are being proactive with the right skill set. But yes, we're looking at this year being the lowest number of actual home sales maybe in the last three or four decades. The numbers obviously aren't all in yet, but that is indeed what it appears is going to be, this is going to go down in the history books. And for those of you who are wondering what a tough real estate market actually feels like, you have just lived through it. Congratulations. And there's every reason to believe that we're at or near the bottom in terms of the actual number of transactions. And last point, and I've made this the last three days because it's really important. Yes, this is going to be the lowest number of transactions in maybe recorded history for real estate sales in terms of percent of homes that actually got listed and sold. But we're still looking at what we believe to be around 10 million paychecks were issued to real estate agents this year. There are 4 million listings that sold, there were almost 7 or 800 ,000 new construction homes that were sold. Hopefully all those had two sides, a buyer's agent and a seller's agent. You guys can do the math. That's not a bad thing, it's just a function of whether or not you were one of the agents receiving multiple tubes of those paychecks. And if you weren't, this is today's podcast. That's right. So we're going to give you talking points. These are really objection handlers in some sense. When people say, oh, I'm going to wait or, you know, the market's terrible, whatever. What is the upside to a down real estate market? Point number one, buyers in the new market now have more choices. Inventory just went up, I think about 11 ,000. It's not a ton, but it is inching the right direction. How many of your buyers were sidelined for months or even years waiting to have more than one house to choose from? How many more buyers opted not to be in a bidding war? They just didn't want to deal with that. How many of those buyers have also got a home to sell? Who told you they would have listed, but where would they go? We did a podcast on that, by the way. And there's a lot of new construction too that's finally coming online. Tons of new construction. When was the last time you spoke with those people? Inventory has inched up over the past 90 days, even if it's just slightly, but new construction has inched up a lot. Some homes are taking longer to sell and as days on the market increase, so do the numbers.
A highlight from Top 3 Reasons for Solana PUMP (Best Crypto of 2024?)
"Today we're talking about one of the top performing altcoins from the last bull run, Solana. With a token price of under $2 at the start of 2021, Solana ran all the way up to $260 in November of that same year. There's no doubt many crypto traders made life -changing money with this project. The question now is can Solana do it again? Should it be in your crypto portfolio today or has it been forever tainted by FTX and SPF? That's what we're going to answer in today's video. By now we all know the story of how this once mighty ETH killer took a brutal bankman -free beat down after FTX collapsed. But is it all over for Solana or is there still some fight in this thing? Now if you ask one of the many die -hard Solana holders out there, they'll probably tell you that there is no need for a Solana comeback plan because Solana never went anywhere. And while there is some truth to that, it's also true that Solana is a long way from its glory days. After Solana put in its all -time high of nearly $260 on November 6, 2021, and then crashed hard when FTX went belly up. Finally found a bottom when it hit $10 in December of 2022, but since then it's been more or less range -bound between $15 and $25, with the current price around $25 at the time of this recording. It's over 100 % recovery from its lows and still a 10x from its January 2021 price. However, it's still down 90 % from its all -time high. So today I want to tell you about three key areas where I see Solana making bullish moves. If you want to understand what these new buzzwords mean and why they are relevant for the next couple years in crypto, be sure to stick around until the end of the video and hit that subscribe button. Before we dive in too deep, what is Solana? Well, the short version is that Solana is a layer 1 smart contract platform that uses a unique consensus algorithm called Proof of History to validate transactions. It's designed to promote high scalability, throughput, and speed above all else, not the FTX speed. Now, although speed and scalability are really important, they often come at the cost of decentralization and security. Vitalik's famous blockchain trilemma poses these as competing objectives for any blockchain ecosystem. Remember, there's always trade -offs when it comes to network architecture and design. Different blockchains are designed to do different things. I won't get into the weeds on this, but I think it helps to know what Solana is designed to prioritize. It's no secret that Solana was the favorite crypto project of crypto made off a polyamorous Bahama Beach boy, Sam Bankman -Fried. Sam and a lot of other VCs were heavily invested in Solana. FTX and Alameda Research were holding a combined total of about 58 million Solana, or about 11 % of the circulating supply at the time FTX filed for bankruptcy. SPF was a particularly vocal spokesman for the project, even firing off tweet storms to defend the project when it experienced frequent outages in 2022. Okay, that's a little bit of the brutal history, but what's the rest of the story? And what's still happening with Solana today? As I said, they're hyper -focused on the scalability. Solana has such a high performance that they claim to be enabling new classes of applications that were previously impossible. The Fire Dancer upgrade, a new validator client being developed by Jump Crypto, will increase Solana's speed to over one million transactions per second. One million. The upgrade is expected to arrive sometime in late 2023 according to the Jump Crypto website, and that's got to be bullish no matter when they release it. Not only that, but by certain metrics, Solana hasn't had to sacrifice security in order to achieve these incredible throughput speeds and volumes. Masari published a report in June analyzing decentralization amongst different chains and gave Solana an aggregate Nakamoto coefficient of 1 .9, higher than many of its competitors. I know everyone still remembers all the outages Solana had in 2022, but those incidents haven't recurred in a long time, and the ecosystem continues to grow anyway. The Solana Labs team, led by Anna Tolley, also laid out a six -part plan to improve the network in February of this year, and it's been hard at work implementing the plan already. I'll drop a link down in the comments if you want to take a closer look. A big part of the plan is something they call DPEN, or Decentralized Physical Networks. And I want to start with this because it's one of the most ambitious and revolutionary things going on in Web3 right now. The objective of DPEN is to make Solana the leader of the new physical internet of things. They started building this by getting Helium and Render Network to migrate over to Solana, and by launching Saga, the famous Solana phone we've all heard about but probably haven't used. Okay, so what exactly does this mean? Well, Helium is a decentralized and distributed internet network of user -run nodes, and Render Network is a protocol for distributed GPU rendering. So the idea is to create a decentralized tech infrastructure to compete with the centralized legacy systems. That's right, this shot is aimed directly at the tech power players that run the internet today. I'll admit, this is a bit of a long shot. However, while it may be a large undertaking, it solves one of the world's largest problems of digital governance. If Solana pulls this off, they would have a blockchain -powered version of the internet, a rendering network, and Web3 phones. And again, they're just getting started on this. Hard not to be bullish on a suite of product offerings like that. Especially if these start to gain any market adoption in the next full run. Another innovation that Solana rolled out recently is something called state compression. State compression is a cost -saving data storage solution that makes Solana even cheaper to use. The technicals of how it works are pretty elaborate, but they use Merkle trees to make it possible to mint one million NFTs on Solana for about $110. This takes a lot of friction and costs out of the equation for NFTs and should make them a much more attractive technology for projects and legacy businesses to adopt. You guys know that I'm pretty big into NFTs personally and even minted on Solana over two years ago. So I'm excited to see if this kind of scalability will take things to the next level. The next area I want to touch on might be the simplest, but also the most important, payments. Solana co -founder and CEO of Solana Labs Anatoly Yakovenko discuss how he and Solana are focused on this in a recent episode of the Validated podcast. I'm actually more focused on trying to do stuff that's obvious today. I think that's just like really, really, really important to try to get users to go do the things that already work at scale. And those are payments, very, very simple kind of thing. Let's send money to each other in a cheap and fast way without, you know, like around the world. And it's just such a better experience for anyone that generates user content. So the problem though, is that because it's such a pain to deal with finance on the web, these platforms are able to aggregate it, aggregate power by like creating these rails for a large number of content creators. They own the content, they own the creator's financial relationship between the creator and the user. They own that rail and they own that connection. And once they own it, the creator doesn't want to leave. It's like a, it's a kick in their revenues, right? They're not like working for themselves or working for Twitter or for TikTok or whatever, because all of the financialization happens through these platforms. In August Solana announced that it integrated with Shopify for USDC payments. This is a huge deal because Shopify accounts for over 444 billion of global economic activity. The cost of a SolanaPay USDC transaction is 0 .00025, which is way cheaper than the one and a half or two and a half percent fees that credit card companies charge and way faster as well. About a month later, Visa announced that it was expanding its stablecoin settlement capabilities with USDC on SolanaPay. Visa started pilot programs with merchant acquirers, WorldPay and Nuve. These companies process debit and credit card payments for businesses globally, and their clients may now use USDC stablecoin settlement instead of receiving fiat currencies. Now, if all that isn't enough to convince you to start calling Solana the comeback kid, then maybe this will. Solana has integrated with ChatGPT. I know that sounds like the premise of a Black Mirror episode or something, but they did it. There is now a plugin that will allow the AI chat bot to check wallet balances, transfer tokens and even purchase NFTs. The plugin is open source and can be downloaded from GitHub, and I'm sure it will only be used for good things. The Solana Foundation also announced it would increase funding for grants exploring Solana and AI to $10 million and claims have already received over 50 applications. I can't wait to see what they come up with. If you can't get enough of all things Solana, I recommend you check out their conference. The third annual Breakpoint Conference is being held from October 30th to November 3rd at the Solana campus in Amsterdam. The event will feature developer workshops and tons of interesting panels as well as keynotes from the like of Google Cloud, Circle and Star Atlas. Sounds like a great place to learn even more about the great Solana comeback plan. Okay, I know that was a lot, and truth be told, we're really only scratching the surface here, so the question still remains. Will Solana be able to be a top performer again? We'll have to wait and see, but it's clear that Solana Labs and their developer ecosystem have been hard at work this bear market, which is what you want to see from a project. There are almost too many developments, improvements, and innovations to keep track of them all. It looks to me Solana is still very much alive, but it's not clear yet just how much market share they're going to be able to claim and defend in the next bull run. There'll be new challenges for sure, but Solana has a pretty impressive suite of offerings and a lot of fiercely devoted fans and a strong team of VCs and developers. It'll be really interesting to see how things play out for them. All that being said, I do feel Solana is worth holding in your portfolio and accumulating for the next bull run, especially in the current price range. It's one that I hold in my personal portfolio, and I have high hopes through 2025. Finally, I'd like to say do your own research. I highly recommend checking out BitLab Academy. That's all I got for this one. Let me know down in the comments if you think Solana will claim the title of comeback king. In fact, give me your next bull market prediction. That's all we got, and we'll see you at the top.
A highlight from "More revelations from SBF trial." Oct 12, 2023
"It's 8 a .m. Eastern, October the 12th, and this is your daily crypto report. Bitcoin is down slightly at $26 ,813, ETH is down slightly at $1 ,548, and Binance Coin is up slightly at $205. More inner workings about FTX have come out during SPF's trial. A former software engineer at Alameda Research revealed that the trading firm lost a total of $190 million due to security incidents. The engineer criticized the company's fast -paced approach, stating that it led to inadequate code testing and incomplete balance accounting. It's also come out that SPF attempted various methods to unlock frozen funds on Asian crypto exchanges HTX and OKX. These funds, totaling around $1 billion, were frozen in 2021 as part of a Chinese government money laundering investigation related to an Alameda Research counterparty. To unfreeze the funds, SPF attempted to negotiate with the Chinese government through a lawyer but was unsuccessful. Then Alameda Research resorted to unconventional strategies, including creating accounts using the IDs of sex workers to manipulate trades between accounts. Reportedly, the frozen accounts were released through the payment of a bribe to Chinese government officials. Blockchain analytics firm Elliptic says it has discovered potential Russian involvement in the laundering of stolen assets from the FTX exchange hack last year. After the hack, $74 million was routed through a bridge associated with Alameda Research. A significant portion of the stolen Bitcoin was processed through mixers, including the chip mixer service, and subsequently mixed with assets tied to Russian criminal networks such as ransomware groups and darknet marketplaces. Elliptic believes a Russian -linked actor, possibly a broker or intermediary, may have been involved in the process, despite the findings the hacker's identity remains unknown. Wplatypus financed a DeFi project on the Avalanche network suffered a security breach, resulting in an estimated loss of over $2 million, according to security firm Peck Shield. In response, Wplatypus has temporarily halted all its liquidity pools due to suspicious activities. While the exact attack vector hasn't been confirmed, it appears to be a flash loan attack. This isn't the first time Wplatypus has faced such an incident. A similar attack occurred in February of this year, resulting in an $8 .5 million loss. Game of Silk, a fantasy horse racing startup that connects NFTs to real thoroughbred horses, has secured $5 million in funding. The platform allows NFT owners to earn rewards based on the real -world performance of their corresponding horse. The game has now raised over $10 million, marking the convergence of NFTs and the fantasy sports industry. The company aims to revitalize the sport of horse racing. They've already issued more than 7 ,000 Silk Genesis Avatars NFTs with a floor price of 0 .08 ETH. Well, that's all for us today. Visit us at dailycryptoreport .io for sources and links. And listen to us everywhere else you podcast under Daily Crypto Report. I'm Dr. Rae Wynn -Grant, wildlife ecologist and host of the award -winning podcast Going Wild, produced by Nature on PBS. In the brand new season of Going Wild, we're tackling the big question, how can humans look at our relationship to nature differently? And with the help of special guests like Christian Cooper, host of Nat Geo's Extraordinary Birder, and Ayana Elizabeth Johnson, co -creator of the How to Save a Planet podcast. Follow Going Wild with Dr. Rae Wynn -Grant on your favorite podcast app. Are you looking for a podcast that'll make you laugh? You came to the wrong place. That's not us. That's not us. Well, it is. We are a husband and wife who chat about raw, real relationship topics. Like sex. Like money. Like marriage and kids. But we're not afraid to talk about how your newborn baby probably isn't as cute as you think it is. If you're in need of entertainment while you're driving to work, because that sucks, we can join you in the suckage, kind of like being in your ear. Not physically. So if you want to laugh. Come check us out. Come check us out. Brought to you by The Laughing Couple Podcast.
A highlight from Global Macro Outlook | Crypto Markets in Trouble
"All right, so a lot happening today on the global outlook and what that may do to crypto markets and also traditional markets. We'll try to break down some of that today without going too deep into this bad news. But of course, I think it is going to impact. So you guys are going to want to stick around for this one. My name is Paul Baerma. Welcome back in The Tech Path. All right, let's cover a couple of things here. And we'll be going into charts and take a look at some things in terms of how this situation in Israel and Palestine and how this may play into the crypto markets. Before we get started, I want to thank our sponsor, and that's iTrust Capital. If you're looking to go in long term, one of the ways you can do that is through a crypto IRA. Very easy to sign up and also very simple to use. There's no monthly fees. All you do is pay a fee when you do your trades inside your own IRA. So make sure and use our link down below, and you'll get $100 funding reward. Pretty simple, pretty easy, and it does help the channel out. So go check it out. Use that link down below. All right, a couple of things I want to hit to, a couple of posts here from Twitter. This of course is Kyle Chas coming in, talking about a few things that I think will start to affect what we're going to see in the world of global finance. Few commodities capture the imagination quite like crude. Obviously, we know the geopolitical ripples cascade around all this in the Middle East of course is right now in the center of what's happening. So these events, as we can kind of serve as a reminder of global chessboard of resources, energy, especially crude, reigns supreme. And I think this is one of the things that we continue to point at, is that when you look at some of the influences on what causes not only inflation, but the most pain on American people is the price of energy, and that of course is what he's playing into. The U .S. recently announced it has 17 days left of oil reserve, a slight tremor in its geopolitical landscape can send aftershocks rippling through global economies, affecting industry, consumers, and nations. Now all this plays into what could be a very negative position overall. Now does that mean it's bad for traditional markets and maybe good for what's happening in the risk markets, much like Bitcoin and crypto in general? I think this is going to play out very interestingly over the next few months, especially whether or not we'll see more activity around what's happening in Israel. Further into this, U .S. Treasury Secretary Yellen, U .S. likely to take steps to enforce $60 a barrel oil. This is coming from the Wall Street Journal. This is important because if Secretary Yellen is going to this extent, this means they are very worried about energy and what this might look like, especially when you look at the fact that we've depleted all of the U .S. reserves and what this might look like in the short term. Remember, energy coming in, this plays very badly for the Biden administration obviously going into next year's election and not being able to recover. This also potentially puts a longer stint on whether or not we come out of this. Remember, global impact, especially in the United States, when it comes around energy and the only place that you can really kind of center that focus is coming from the Middle East. And obviously now you have a destabilized Middle East right now. Kobe E .C. Letter coming in and says, hey, key events this week. You've got PPI inflation coming in, Fed minute, September CPI, which is going to be important. Watch that one. OPEC monthly report. That's another one. Let me zoom in on that for you guys. OPEC monthly report Thursday, jobless claims Thursday, and then 12 Fed speaker events coming from all the 12 Feds. So all of this could be into a position where we start to see things starting to switch up a little bit in the term of do we see printing? And I'll talk about that further as we go into the episode today. This was a squawk box interview of some of the global analysts around the financial markets from a global perspective. Listen in to what they had to say. Let me play this clip for you. Cambridge and Mohammed. Last week after the jobs report, you said that a soft landing was much less likely. That there's things a risk of something breaking. How do you now assess everything with this added on top of it? So Becky, given what's happened over the weekend and my thoughts and prayers with the families and friends of those who lost loved ones and all the other innocent people who are either missing or have been taken hostage. Look, this makes the U .S. outlook even more difficult. I think the key question and you've got some really good guests coming up is, is this conflict contained or does it bring in other parties? So far, the markets are trading as if it's contained. But if this expands and brings in other parties, then the outlook is for even a weaker global economy, even more inflationary pressures, and the markets are going to be finding it hard to deal with that. All right, so I'm going to pause it there. But he did hit on the key point right there, and that is if this is contained, market is responding as if it is contained. If we do see a little bit of that exposure that starts to move into other countries within the Middle East, that does cause some major issues around, as I said, oil, which is really the common currency around the globe, especially here in the United States. And it has so much bearing on where and what we're going to be dealing with as a country in terms of inflation, being able to recover, get into business as you, which is a growth market, which is a problem right there. This was a post coming in, also talking about getting in quite a few questions on this. All I do know is that the Ukraine war triggered 8 % down candle. That was erased within a day. Couple other things that were happening there, if you think about how the Ukraine war had some effect on cryptocurrency, there was actually a little bit of activity that occurred mainly because Bitcoin and other crypto was being utilized in these areas that we saw these conflicts occur. So some of that's going to probably play into it in a slight way. I think the bigger and more macro picture that plays into what's happening right now in the Middle East is the issue of energy, more so than any. Financial giant, of course, Bank of America now warning about U .S. bonds. Markets may be moved because the bonds, of course, accelerating. All that playing into the pressure on the traditional markets. If we continue to see bonds rise, then the traditional markets are going to see that pressure. This is something that we've seen and a lot of analysts have already pointed to. And this is kind of the situation that we're facing right now. This is just a chart right here. Two -year U .S. Treasury yields closed at over 5%. Levels not seen since 2007. That's a pretty crazy chart right there. Yields are up short, whether short or long, accelerating higher is likely result in continued pressures on equities. This gets into the traditional stock market, which is where we start to see that adjustment. Now, we haven't seen the full adjustment on that because we've still seen a little bit of uptrend here recently, but only in the last few days on some of these markets overall. Here was Jordy Alexander, who we've had on the show before, and he mentions a couple things here. I haven't expressed macro views in a while. Things are about to start really moving its time. I spent months analyzing the engram of U .S. policy outcome, I said, is coming into view gradually first and then all at once. The Fed will now have to kind of poop in their pampers to deal with this. What he simply is saying is that we're going to be dealing with some scenarios that are going to play out around printing. This is a bat signal I've been waiting for. What it does mean is why the Dallas Fed president in the top tweet doing a big U -turn. That's because they're starting to realize they're losing control of the bond market. The bond market continues to grow because of the global pressure of what we're dealing with macro, and that's going to continue to put pressures on the securities market, which then in turn starts to get these Fed guys a little bit uneasy. At that point, you could be looking at a print. Once we start seeing a print and a pivot in the market, that's when you start to see the impact on the risk markets such as crypto. All that plays into it. Bitcoin, of course, right now if you compare Bitcoin bull market forecast short -term dips before a positive growth, many people have been saying this for a little bit that we could still see some more pain with Bitcoin. I think with the short -term scenario, again, all this is going to be triggered off oil. This will cause a little bit of pain in the markets in general, but the question will be is how do these risk markets start to accommodate for what's happening in the securities market if we truly do see a big downtrend. Now we're going to be doing a video on Ethereum later this week, and we're going to be kind of breaking down some new movement within ETH onto a lighter note here, so make sure and check that out. This is an article we'll kind of cover a little bit about what would happen if Michael Saylor would be up to $2 .5 billion if he had chosen Ethereum over Bitcoin. So just saying, you know, you kind of play those things overall. And don't forget, you've got VanEck also kind of jumping into the fray. We're going to have the VanEck guys on this week talking about the futures, and the likelihood is we're going to see a release here coming up on this next release of data. VanEck could be in the $10 million range, which would be massive for ETH futures, especially with something like this at this given time. So we're going to be covering all that good stuff, give you guys a full rundown on that. If you're not following us on the Diamond Circle, make sure and get in there now. It's a great place to catch additional content. If you guys want to catch me out there on X, it's at Paul Baron. We'll catch you next time right here on Tech Path. Thank you.
A highlight from VanEck Commits ETF Profits To Protocol Guild
"VanEck, an ETF and mutual fund manager, announced its commitment to donate 10 % of its profits from the forthcoming eFute ETF to Protocol Guild. The contribution is scheduled to continue on a regular basis for a minimum of the next decade. Protocol Guild is a collective comprised of over 150 Ethereum core contributors. Protocol Guild solves funding and coordination challenges for core protocol development. VanEck is set to host a Twitter space with Protocol Guild on October 4th. The VanEck Ethereum Strategy ETF, also known as eFute, is an upcoming ETF centered on investing in cash -settled ETH futures contracts traded on CME. Smart contract auditing firm Chain Security released its audit findings for EIP47AA, a proposal aiming to expose beacon chain routes in the EVM for accessing consensus layer information. The audit revealed no critical severity issues, one high severity issue, and six low severity issues. The high severity issue pertained to incorrect data retrieval. The smart contract's GET function could be queried using the zero timestamp even without a value set. The issue could mislead integrators into recognizing a zero hash as a valid beacon route, posing a risk for potential exploits. The issue has since been recetified by adding an exploit check to block queries with the zero timestamp. Additional improvements from the audit include gas optimizations related to the ring buffer size. A vote to transfer 16 ,000 Ether from the ENS -style treasury to an ENS endowment overseen by Carpetkey is currently underway. The transfer represents the second installment of funds sent to the endowment, a first installment of 16 ,000 Ether, was sent in February which has since been managed to generate a 4 % APY for the ENS -style. The endowment currently holds over $10 million invested in LIDO's SDEth liquid staking token. ENS delegate and member of the staking community SuperFizz voted against the proposal as a portion of the second installment will be converted into SDEth. SuperFizz noted that Carpetkey maintains a relationship with LIDO. The largest staking provider with a 32 % market dominance. The on -chain vote will end on October 4th. Lastly, Ethereum .org announced the second iteration of its Writers Cohort, a three -week online program designed to inspire community members to write about Ethereum. The initiative helps contributors in enhancing their writing and communication skills and in building an online presence. Participants will have access to live workshops, writing resources, and the Ethereum .org community members. Applications are now open with the program starting on October 20th. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io. Thanks for listening, we'll see you on Monday.
"at least $ 10 million" Discussed on Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
"I'm so sorry, ma'am. I know you need this medicine, but it looks like it's not covered by your insurance. Yeah, unfortunately, I had to deny that one. Wait, who are you? I'm your insurance company's pharmacy benefit manager. I get paid based on the price of a medicine, and I don't make as much money off this one. No one should stand between you and your medicine. Visit phrma.org slash middleman to learn more. Paid for by pharma. Now this year in 2023, the amount of energy spent in Bitcoin mining has been on the rise as mining companies increase their capacity and share of the hashrate with the installation of new ASICs. And by preparing for the halving, which is scheduled to be six months out sometime in April of 2024, and according to Edwards, the Bitcoin energy value reflects the fair value. Bitcoin's energy value has shown a strong correlation with Bitcoin's spot price, and this suggests the theory is at least somewhat valid. However, there are some caveats, of course, to every theory. One limitation is that Bitcoin's energy value is not always accurate. This is because the mining energy efficiency obviously varies over time. Additionally, the theory does not take into account other factors that can affect the price of Bitcoin, such as the market's current demand and supply, and the steps taken by miners ahead of the halving next year, as well as Black Swan events. Bitcoin's current spot liquidity data on Binance indicates that buyers are looking at the 24-6 level for support. However, the bullish momentum appears to be fading as most traders are crowding around the yearly low levels and hoping that these hold. The liquidation levels of future orders from CoinGlass show that buyers are expecting a downside of $24,600, with smaller liquidations extending towards the $23,000 level. Now, notably, the price range between $25,000 and $25,500 has the most leverage orders and significantly high volumes, making them hot targets for traders, which you can see here. Now, should the price drop to the $23,000 level, the buyer's conviction will obviously be tested, and a drop below $23,000 would target the $21,400 and $19,500 levels from back of last year of 2022. So there you have it, and quoting the high priest of Bitcoin, Max Keiser, I love these quotes, Don't underestimate Bitcoin. It's destroying all the central banks and the nation state's facts. Also, he says that properly secured Bitcoin is the first truly unconfiscatable property that humans have ever known, which is the truth, and a reminder not to keep your crypto on a centralized exchange, not your keys, not your coins. So research how to hold your Bitcoin properly via cold storage and what Max is suggesting in that post. Now let's break down our next story of the day. Now we covered our technical analysis, and we know the fair value of Bitcoin is closer to $46,000, even though we're only currently trading at $26,000. Now let's break down the fact there are hundreds of people worth hundreds of millions of dollars in crypto right now, according to this latest report, which is quite interesting, and the new study. According to a new study by financial advisement group Henley and Partners, dozens of global crypto entrepreneurs are now sentai millionaires, almost half of them either obtaining their wealth from holding or trading Bitcoin, the top crypto asset by market cap. Quoting the study here, this first of its kind report includes exclusive statistics on the number of crypto and Bitcoin millionaires, sentai millionaires and billionaires provided by global wealth intelligence firm New World Wealth, as well as insights from leading academics, industry experts and crypto players in the global super rich league. There are now 182 crypto sentai millionaires, which are namely high net worth individuals with crypto holdings of $100 million or more, 78 of whom are Bitcoiners, while six of the world's 22 crypto billionaires have amassed their fortunes from trading Bitcoin. The study also finds that high net worth investors are looking into migrating to new nations that are less likely to overregulate or ban crypto assets, as stated by Dr. Jorg Steffen, the CEO of Henley and Partners, and a press release quitting him here. We have seen a significant spike in inquiries from crypto millionaires over the past six months looking to protect themselves against any potential future bans on the trading or the use of cryptos in their own countries and mitigate the risk of aggressively fiscal policies that tax digital assets at source. The study's methodology includes data from wealth intelligence firm New World Wealth and insights from leading academics and industry leaders, as well as Henley and Partners own crypto adoption index, which compares the top investment migration programs for digital asset entrepreneurs. According to Henley and Partners, the statistics from the New World Health focus on the movement patterns and spending habits of over 150,000 deep pocketed individuals would have focused on those with at least $10 million in investable assets. Now the million dollar question becomes how many of you are eventually going to be worth $100 million or more by hodling your precious Bitcoin? Let me know hodl fam in that live chat. And now let's break down our next story of the day. Massive shout out to everyone in our live chat. I appreciate the support fam. I know it's popping right now. Now let's discuss the latest from Congressman Tom Emmer sponsoring a new amendment to limit the SEC's crypto oversight. That's right, US Representative Tom Emmer, majority whip of the US House of Representatives, had previously expressed concerns about the US SEC's actions in the crypto industry, sponsored an appropriations amendment restricting the SEC's use of funds on digital asset enforcement on September 8. In his statement, Emmer criticizes SEC Chairman No Clarity Gary, alleging he has overstepped his authority. Let me know if you agree with Emmer, which is negatively affecting the American people. Emmer urged Congress to utilize its available methods and proper procedures to thwart any potential misuse of taxpayer funds by No Clarity Gary Gensler and the SEC. Emmer previously jointly sponsored several bills seeking to enhance regulatory transparency in the United States. And as he shared here on X, Gary Gensler, in which he tagged, has abused his authority to grow the administrative state at the detriment of the American people. Congress must use our tools, including the appropriation process, to restrict Chairman Gensler from further weaponizing taxpayer dollars. And he just tweeted that yesterday, September 8 at 12.55 p.m. So again, massive shout out to Emmer. The appropriations amendment will limit the SEC's utilization for funds for digital asset enforcement until comprehensive rules and regulations are put in place. The absence of crypto regulations has raised major concerns about the SEC's substantial expenditures and legal disputes with numerous crypto entities, potentially weaponizing taxpayer funds. Very bold choice of words and very accurate, in my humble opinion. Now, in March, Emmer introduced the Blockchain Regulatory Certainty Act, which clarifies that blockchain developers and service providers are not considered money transmitters, as they do not hold consumers' funds in custody. The bill distinguishes between custody providers and non-custody providers, relieving the latter from unnecessary compliance burdens that might hinder innovation in the United States. This clarification ensures that validators, miners, and other non-custodial service providers are not categorized in the same way as custody providers. Key figures in the blockchain sector include Blockchain Association CEO Kristin Smith and Crypto Council CEO Sheila Warren, who expressed support for the proposed legislation. Congressman Emmer has also thrown his support behind Representative Warren Davidson's SEC Stabilization Act, which seeks to remove Mr. No Clarity Gary Gensler from his position as the SEC chairman. So there you have it. Do you think they can likely win and get Mr. No Clarity Gary removed from the SEC? Or do you think he'll likely play out his term, potentially resign? Whether you're honest thoughts, let me know. In much respect to the congressmen who are calling out the unlawful action of the SEC, I think this is long overdue, as they have been keeping crypto in a choke hole for quite some time. And this is stifling innovation, obviously, in the United States, as more people and major businesses are opening up shop overseas in places such as El Salvador, where crypto is welcome, especially Bitcoin being a legal tender. So there you have it. Now let's break down. According to billionaire legendary investor Ray Dalio, he says there's a $73 trillion wealth transfers incoming into crypto. So let's break this down and shout out to Ray Dalio. The billionaire investor believes that historically massive transfer of wealth has already been quietly boosted by the central banks from all over the world. An estimated $73 trillion transfer of wealth is now underway as baby boomers bequeath assets to the next generation. And according to a new economic update from Dalio, the wealth transfer has been buoyed by the central banks, which funneled capital into the hands of households and businesses during the free money era of low interest rates. Quoting him here, as a result of this coordinated government maneuver, the household sector's balance sheets and income statements are in good shape while the governments are in bad shape. In the US and globally, the central government's balance sheets and income statements are bad and getting worse because the governments ran and are still running large deficits. They also had big losses on the government bonds they bought to fund the government debt. And with their balance sheets where they are, are losing money where interest rates are, millennials are set to receive the majority of the $73 trillion windfall, which is expected to be completed and handed down by the year 2045. And at the same time, Dalio says that the stage is now set for the governments to suffer the consequences of loose monetary policies, battling bad balance sheets with tolerably slow growth, as well as inflation. Over the long term, from looking at history and penciling out what is likely, it is virtually certain that central government deficits will be large. And it is highly probable that they will grow at an increasing rate as the increasing debt service costs plus increasing other budget costs compound upward. And as they increase, the governments will need to sell more debt, so there will be a self-reinforcing debt spiral that will lead to market-imposed debt limits, while central banks will be forced to print more money and buy more debt as they experience losses and deteriorating balance sheets. So there you have it. How much of that $73 trillion wealth transfer do you think will pour directly into the King Crypto BTC? That's a great question. As I covered in yesterday's episode, I believe, we talked about $30 trillion being entered into the Bitcoin market just as a result of the Bitcoin ETFs being approved in the United States. So lo and behold, it is a-coming. It's just a question of when. If I was to guess, I'd say more than likely the spot Bitcoin ETF will finally be approved in the United States by the year 2024, which is next year, the year of the next Bitcoin haven. Now let's discuss the latest of what's popping and going on over in El Salvador right now, as this break-in story was just published. And I want to break this down. The nation of El Salvador, as we all know, became the first country in the world to adopt Bitcoin as a legal tender at the beginning of June. El Salvador's President Bokele responded to the ratification of the Bitcoin law in the nation's Congress by stating on X, which was formerly known as Twitter, this is going to evolve fast. And now the president instructed the geothermal energy sector to utilize the nation's 22 major volcanoes to power the Bitcoin mining hubs. Let's freakin' go. Volcano energy. Bring it. The president of El Salvador, Najib Bokele, tweeted, our engineers just informed me that they dug a new well, which will provide approximately 95 megawatts of 100% clean, zero emission geothermal energy from all volcanoes. That's what's up. Geothermal energy is how they possess the energy for the mining from the crypto hubs. Now, the initiative could see El Salvador make revenues in excess at 250 million per year, which is roughly, what? That's like a quarter billion dollars. Let's go. Now, George Quicavas, the Global Blockchain Business Council, responded to the tweet and said, Mr. President Bokele's 95 megawatts can generate three exahashes, which is around 600 Bitcoin in revenue per month, or 250 million dollars per year. Now, he also says, I am confident with these metrics you can structure a proper JV, shout out to JV, with credible investors to take care of the IMF once and for all. And speaking about El Salvador's move, Bitcoin pioneer Max Kaiser told Express UK, Bitcoin was designed to be a central bank killer. One of my favorite quotes, right? He goes on to share that the IMF will probably be the first to go. I'd be advised, El Salvador, or I've advised El Salvador, create new volcano bonds backed by future Bitcoin mining revenues to recapitalize their balance sheet and retire the IMF loans. Take that IMF. I know of two banks in New York that are working on this now. Property prices in El Salvador are set to triple this decade as several countries in the region, which include Argentina, Guatemala, and Paraguay, and others will announce shortly they are following El Salvador's example. Let's freaking go. Could you imagine Bitcoin becoming a legal tender in a big country like Argentina, which is much, much larger in population size than El Salvador, followed by other countries in Latin America? You already know, fam. Quitting Max again, other central banks such as the Bank of England and the Federal Reserve Bank in America are also at risk of being disintermediated as Bitcoin rises to become the world's reserve currency. And you already know if Bitcoin does become the world reserve currency, watch out. We're going to the moon, fam. Mr. Kaiser suggests that volcano bonds should be floated to finance El Salvador's geothermal Bitcoin mining operations. He tweeted to the CEO of Galaxy Investment Partners the following, what about you guys floating $1 billion in bonds backed by future Bitcoin mining output for El Salvador to pay off the IMF? Now, it was not long before giant JP Morgan took notice of the events and warned that El Salvador's decision to adopt Bitcoin as the legal tender will jeopardize its negotiations with the IMF. Now, commenting on the move, the JP Morgan client notes stated, as with the dollarization in the early 2000s, this move does not seem motivated by stability concerns, but rather growth-oriented. But it is difficult to see any tangible economic benefits associated with adopting Bitcoin as a second form of legal tender, and it may imperil negotiations with the IMF. And responding to the news, we had George from CryptosRS, shout out to George, said major financial institutions such as JP Morgan are criticizing the move by El Salvador because they want to maintain their power, facts. He also added that global institutions were going after El Salvador for trying to free itself from the IMF. So there you have it. How do you feel this will likely play out in the end? Do let me know. I just hope more adoption continues as more countries around the world make Bitcoin a legal tender following in the footsteps of El Salvador. And I cannot wait for those Bitcoin mining hubs using the geothermal energy to be in full effect, but we are told it can take a few years to set up properly. But right now, in the meantime, they're still doing other free energy methods, or I should say clean energy methods to produce Bitcoin, such as solar, etc. With that being shared, now for the moment you have all been waiting for, and that's Michael Saylor's most recent $5 million price prediction. He recently did an xspaces, and I transcribed it because I found it very valuable. And I also think it'll be very valuable for you to learn what Michael Saylor had to share. If you're excited to hear it, let me know in the chat. And again, at the end of this story, we'll be reading everyone's comments out loud. So first and foremost, massive shout out to Michael Saylor. So again, in a recent interview, which I just transcribed this morning in this xpost, here's what Michael Saylor had to say. First of all, Bitcoin is going up by a factor of 10, whether they can fix any of this stuff. It is going to be a grind up by a factor of 10, just because gold is broken and Bitcoin is going to replace gold. And now everybody in the universe knows they need a non sovereign store value in the form of a bearer instrument. For the last year, people said inflation may be coming. We are not sure. Now the mainstream narrative has flipped to inflation is here. You need an inflation hedge. So it's going to grind up to replace gold. It is going to go to $500,000 a coin, regardless of whether they fix these things. Here are three things that are massive catalysts that can cause an acceleration. Those three things don't take us to $500,000. They take us to $5 million per Bitcoin. Those three things are number one, a spot Bitcoin ETF where someone can go ahead and buy $100 million worth of Bitcoin via an ETF security. I think that's one. Number two, your bank is going to custody it for you and lend against it. And number three, I can mark it up or down on my balance sheet based on fair value. It will be para passeu on the way I handle Apple stock, or at least that good. If you have property with fair value accounting, by the way, it becomes para passeu to the way you handle treasury bonds and a treasury balance sheet. Treasuries are better than stocks because treasury a treasury is property, whereas a stock is a security and you're capped out at 40 percent of your balance sheet of securities. So it would be a major, major breakthrough if you saw any of those three things. I'll end with this one observation in which I tweeted last week, and I believe it is very powerful. So listen up. If the banks can hold the stuff on their balance sheet, when a new class of investors are going to buy it, people are going to put in a billion and multibillion dollar orders to buy it as a treasury asset. Nobody is going to sell it because there is no reason to sell it. If you can borrow against it, preach. So you'll be borrowing against Bitcoin. Nobody is ever going to sell it. And then, as I joked, you won't be able to afford it. Well, you'll be able to afford it. But as you know, everyone gets Bitcoin at the price. They deserve facts. And when the banks normalize it and you can draw a hundred million dollar credit line at 100 basis points from an FDIC insured bank at that point, right where we're going to blow through the market cap of gold by a factor of 10 X and do the math. What is the gold market cap today? It's probably just north of 10 trillion. So we're talking about a factor of 10 would mean 100 trillion market cap for Bitcoin. Just FYI, fam, let that sink in. I think the best thing is that those three things are likely to happen. I don't know if they happen in 36 months, which is three years or 24 months, which is two years or 12 months within the next year. But I'd be shocked if it's more than 36 months. And I hope it doesn't happen in 12 months because my view is the longer it takes, the more progressive the grind, the more time I have to buy more of it. So there you have it. Come in directly from the gig of Chad. Michael Saylor, let me know if you agree or disagree that the Bitcoin market cap will eventually hit a hundred trillion dollars, surpassing gold market cap by a factor of 10, sending the Bitcoin price to five million dollars plus per coin, as outlined in his prediction. I also like to point out, I remember when Michael Saylor first made this five million dollar prediction originally back in 2021, he went on to share, I can see Bitcoin going to a million dollars. I can see it going to five million dollars because if it simply replaces all the indexes as monetary index money, why shouldn't it go to a hundred trillion market cap or something? And that's what he just reiterated in his most recent interview, virtually saying the Bitcoin market cap will surpass the gold market cap by a factor of 10, which would mean a hundred trillion dollars. He also went on to share in my life. I have never seen something that was such a screaming signal referring to the Bitcoin signal. You have got a 200 to 300 trillion dollar addressable market. You have got a problem. Money is not sound. You've got engineered thermodynamically sound money. You have got a dominant network. Everybody's decided it's the network. And guess what? It's exploding the signal that is exploding. It is growing 200 percent per year every year for 12 years running. That, my friend, is the signal. And he goes on to share. Now, do I think that Apple, Amazon, Facebook and Google are going to buy up a factor of 10 from this point? Not really. I think they're plus 20, minus 20, plus 100. Maybe they'll double or maybe they'll triple. He also said that Bitcoin got to be much easier trade in March of 2020. And every month since March of 2020, it's been de-risked exponentially. And then the need is exploding. So there you have it. Let me know if you agree or disagree with the prediction of Michael Saylor. And what are your thoughts surrounding the Bitcoin price hitting a factor of freakin five million dollars per coin, potentially within the next 36 months, as the outline once those three things happen, which he predicts will happen within the next 36 months. Let me know your thoughts. As I've been sharing on the show, the two most bullish catalysts, in my humble opinion, is that Bitcoin having now six months out, scheduled to be in April of 2024, as well as the Bitcoin ETF, which was first and foremost on the list from Michael Saylor, even top G. Andrew Tate is talking about he cannot wait for the Bitcoin ETF to be approved. And that was also on the top mind of the top G with all of the ludicrous things he's experiencing in his life with lawsuits and, you know, being sent to prison. So it goes to show you, I mean, everyone is concerned when Bitcoin ETF because we know once we get that approval game over, we're going to have trillions of dollars ushered right into the king crypto, which will change the entire crypto landscape. And don't forget to check out CryptoNewsAlerts.net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
"at least $ 10 million" Discussed on Cloud Security Podcast by Google
"Hi there, welcome to the Cloud Security Podcast by Google. Thanks for joining us today. Your hosts here are myself, Timothy Peacock, the Senior Product Manager for Threat Detection here at Google Cloud, and Anton Juvakin, a reformed analyst and senior staff in Google Cloud's Office of the CISO. You can find and subscribe to this podcast wherever you get your podcasts, as well as at our website, cloud.google.com slash podcast. If you enjoy our content and want it delivered to you piping hot every Monday, please do hit the subscribe button in your podcasting app of choice. You can follow the show and argue with us and the rest of our Cloud Security Podcast listeners on LinkedIn. This is a special episode because it was live streamed first on that same LinkedIn community page and we had great engagement as always, and you can find the video content on our YouTube page. So Anton, what are we talking about today? This is a bit of a part two for us, which is kind of fun. Indeed. And I think it's a really good episode with extracting more SRE lessons, Site Reliability Engineering lessons, as they apply to security. So you can read the SRE book, I can read the SRE book, we both did. We can extract some lessons, but it's usually better to get an actual SRE, in this case two, and ask them how it really works. And we got some really solid stories and kind of really crisp metaphors from the episode. Some surprisingly crisp metaphors, and I think listeners, not to make you hang on the whole way through, but I think the most insightful thing happened almost at the very end. Yes, but I think your metaphor about digging and then siding the portal to hell was also pretty robust. Listeners, this was recorded just two days after I had a D &D session involving gateways to the underworld. So shout out to my friends at Northreach and perhaps with that, let's turn things over to today's guests. Our guests today, Steve McGee, reliability advocate, and Aaron Edelman, an operations advocate. We are full of advocacy today, which is awesome, and so excited to have everybody here. So I think what's really interesting is in the past when we've had Steve on the show talking about the SRE lessons, they've felt like truly mind blowing to me and Anton. We kind of sat through that episode, each just like with our brains way out here going, how is there all this wisdom? And we immediately agreed, like as soon as we hit end recording, that Steve would come back. And so Steve, thank you for coming back. We're delighted to have you. I think I want to give you the first question of the day, which is when we look at security people and we look at SRE people, there's kind of a common thread in their operational life, especially when it comes to alerting. And so they both suffer from noise. Tell us about the noise problem. Yeah. So when it comes to alerting, noise is basically like the worst case of noise is, you know, getting woken up when I didn't need to be woken up and that's the worst. And like now I can't get to sleep and like it causes like, you know, personal problems, it causes financial problems, can cause health problems. So it's not just like noise noise, it's like pain, like human suffering. Often when we talk about alerting and separating the signal from the noise, it feels a little like nerdy and like not that big of a deal, but like it's actually a really big deal because it's like these are the humans that you brought into your company to do stuff for you that you're paying a lot of money and you're causing them suffering because you can't be bothered to fix the thing. So like, you know, top of the line, like this is a serious thing. This isn't just like a tiny improvement. So what is the noise generally in an SRE and reliability? It's anything where I got, you know, pinged or paged or woken up or whatever and I can't take action. Like we call it, we call it non-actionable. So it's like either it's too vague or it's like, you know, stuff is bad kind of maybe we're not sure or like the thing isn't well described. Like computers are warm. So what? So they usually are. They're supposed to be warm. I can tell you a security equivalent of computers are warm. Like network traffic is up. Yeah. That's good. That means we're making money, right? A normal process. Yeah. I mean, we wouldn't want the computers to be cold, which means that we spent a lot of money on computers and we're not sending any electricity through them, right? The whole point of the computers is a warm up anyway, or at least that's what you know that they're doing their job. So like making sure that it's A, like it's a real thing. B, like I can understand it and C, like I can do something about it. The last one actually kind of D or Z or something is like, is this something that I already know about that like we're already on top of and it's just like re-pinging me again because like the last person couldn't be bothered to do it or like we have a dumb policy where you're not allowed to silence a thing after a certain amount of time or like those are the worst, right? So one of the things we recommend to operational teams across the board, whether it's reliability or security, is just keep track of this stuff, right? And just have a notepad on the wall if you have to or whatever, like a way to keep track of all the alerts you got, how many of them were actionable, right? And- Is it because of the feedback loop? Yeah. Yeah, yeah, exactly. Yeah. You want to develop a feedback loop over time because improving that number over time is going to be different every single time, depending on your environment and what you've changed and whatever. And like it's going to get better and then it's just going to get worse again, right? So it's not, you're never done. So you always have to keep measuring this. And so this is a superset of what we call toil or sorry, this is a subset. So the superset is called toil, right? And the only way to measure toil is to ask people how they're feeling. I'm sorry, nerds in the world, including myself, I wish it was automated, but it involves talking and asking people about their feelings and that's it. And you do it all the time. It sounds like this is actually a subset of something that we also call entropy. The thing you described there, like you fix it and then it gets worse or you're pushing this rock up the hill. This feels like just kind of the chaos of systems. So there's lots of things we've developed as the world to deal with entropy. What technology exists to help people here? What should people invest in to make their precious human lives not suck? Actually wait, before you go there, I want to briefly detour to the fact that a lot of people live like this for decades. So to me, when I see this, when I read the first SRE book about toil for the first time, I kind of realized that a lot of what they say is toil is what every sock does every year for decades. So is there a reluctance to reduce noise? I think before we talk about the magical tech that would magically fix it, is there a real reluctance to fight the problem? I'm quite in pain to even say that, but it sounds like there's reluctance to reduce this, right? Absolutely. And actually, at least at first, it looks very similar between security and reliability engineering, what that reluctance is. We have to do the manual operation to fix the problem, right? That is our job. We are firefighters. We're heroes. We've got to get in and do it ourselves. There is a difference between them, which I hope we get a chance to get to, but before that, when people say, I have too many alerts, that can really mean one of two things. One we've been talking about, which is the signal to noise ratio, a lot of false positives, a lot of things I shouldn't be worried about. But in some cases, they're legitimately getting a lot of alerts for a lot of problems. That is a separate class of issue, but in both cases, having a robust system that you can count on, you trust the automation that you have in place, et cetera, this is how you start to move towards the solution, to address Tim's question. When you say system, by the way, you don't mean a computer system. You mean like a system plus approach, right? Just to confirm. Steve can catch me on this. When I talk about robustness, I am talking about a technical system where you can have automation in place. When we talk about resilience, that is this broader social technical system where you have people working together, responding as an organization to a failure. Nailed it. You got it. Yeah. The other thing that I think Anton was alluding to was like, often when we talk about toil and reducing toil, like sometimes people define their jobs as the toil person. Like, right. What are you going to do? You're going to reduce the thing that I'm good at. Like, I'm good at that, dude. Like, and I need a paycheck and I've been doing this for twenty five years. So I'm going to put up all the roadblocks in the world to make sure that you don't get rid of my job. Is there like an anti-automation camp, the camp that says you have an excavator, but I'm going to dig with my shovel because I'm good at digging? Yes. I'm sorry, but I'm the shovel lobby. I'm playing the naive, naive guy who just showed up. Like, I'm sorry, but like I always assume that there are people everybody wants to automate, but there are challenges. So then my mental model is that everybody wants to automate. Everybody is the let's get machines to do it brigade. But there are these enormous challenges that they are facing. But you open my eyes to the fact that some people say, no, actually, I don't want to automate. I'm going to keep digging manually because I'm good at it. Like psychotherapy, please help. Yeah. To extend the metaphor, like use a shovel for a long time. Someone comes in with a backhoe and they start going after whatever it is you're digging and they take up a gas line because you never in the past had the power to burst a gas line with your shovel. So you didn't have to mark the gas lines. Then they'd be like, look, that backhoe is super dangerous. Like, what are you doing? Get out of here with your backhoes. We got a team full of shovels over here. And they're missing the entire point of like, we've got 16 miles of trench to dig here, guys. Right. You know, it's like, let's just mark the gas lines. And the next water line we come up with, like, let's think ahead a little bit because we're going to be using the backhoe from now on. And so often it's just it's just short term versus long term thinking. Wow. But like in that example, the discovery of a gas line implies the existence of water lines. What about like unknown risks that automation exposes us to? Like maybe there's a gateway to hell down there or some other cleaner portal that the backhoe will discover that the shovel certainly will not because there's so much Buffy. I can tell I've been playing too much D &D lately is the truth of the matter. Yeah, that's a good question. The sort of S3 approach to this is gradual change. So the answer to this is don't just bring in the backhoe and YOLO just like, let's do it, guys. You know, just go for it. Dig a little bit first, like come up with like, hey, ask around. Like, what do you guys think? Is there anything down there? Should we dig a little bit for a while with the, you know, should we poke holes first? Should we look around to see if there's buildings that might have feeds to them or, you know? So basically it's like think ahead. Right. One obnoxious way of putting this is shifting security and reliability left. People hate that now. I think that just means think ahead. It just means plan a little bit. Plan a little bit. It's a radical concept, Steve, thinking ahead. And in terms of novelty, like when you do run into this risk, right, Tim, the one that's unpredicted, it should be truly surprising when you get to that point. If there's something that you can anticipate ahead of time, that's what you're targeting with automation. So the gateway to health scenario is the risk that Tim brought up, like this is on the risk register now. I mean, when you look at risk management in general, I think this is one way that security may want to learn from SRE. SRE in general, when it's defining SLOs, tends to do, you know, is doing a better job at looking at things like probability. Steve gave a great talk at SLOConf about probability, how it's calculated. This is part of an SLO. There's a 0.01 percent chance of this happening over the course of a year, whereas in security you still have a lot of teams and organizations stuck using CVSS, something very subjective. The likelihood is five. You know, there's not really this seriousness of like over time, how can this happen? Same with financial implications of the impact. Criticality, oh, it feels like a nine out of 10. What does that mean? It's at least $10 million in legal liability. That is something more mature. So as security gets more to a mature model of risk, it has an easier way to prioritize. There's more consistent way to do it. Then alerting also becomes easier. You know, kind of why you need to treat this impact. That actually makes sense, which brings us to the next point I want to make about the differences. Some of the stuff from the world of reliability and SRE feels like really similar, but I also know that there are scenarios where the same words like incident and risk kind of mean different things. And if you just straight lock a SOC analyst and a SRE in the room without giving many contexts, there's a decent chance they would confuse each other. So how do we approach this part? How do we approach the fact that SREs versus security practitioners approach risk differently? And how do we deal with like alerting because of that? That's a good question. Don't define risk for the security guy, by the way, because this is like it's going to cause a major mayhem in pretty much like, hey, let's define risk. Then suddenly six hours later, people are drunk and some are beat up bloody and it's just not good. But are we back to talking about what we discussed during our one on one yesterday with drunk and beat up bloody? I'm afraid so. So let's just avoid defining risk for the security guy because that's a danger area. We will not define risk. Don't worry. Yeah. But yeah, at least in terms of incident. Right. We've got this new definition given to us. It's an event that turns out to have an impact. That's an incident. But when you talk to developers, certainly when I was a software developer, primarily for us, you know, anything above CVSS seven that we introduced into production, that was an incident for us because it meant we had to stop everything and fix this and roll it out. Now, in that case, you know, you're just talking about the potential exposure. You've introduced a risk and now it's very highly exposed. Right. So for some, that counts as that counts as what you do build alerts around that. You know, you alert people when they have this in production. So I don't know how useful it would be to try to create a one size fits all definition, but certainly something Steve mentioned earlier, which is taking action on the alert. The two key components here are how relevant is the alert? Like how accurate is it describing a potential impact? And then also, what action are you expected to take? Right. Is it just informational? Can't that just be a ticket or a weekly report? Why do I need to wake up at three o'clock to get this done? Steve, as far as impact goes, though, you've taught me quite a bit about impact over time and how that's calculated and considered. And I think security could actually take some from them. Yeah. So the tool that we use that is in the books and everything like it's the part of SLOs that everyone doesn't get to, like they read about SLOs and they read the whole thing and then they skip the last chapter or they start implementing the basis of SLOs and they forget about this last thing, which is actually the most important part. And that's the error budget. So there's two parts of the error budget. Right. One is like a be aware of the concept of an error budget, like just it exists. It's a thing. The idea of that is we are going to allow ourselves some amount of failure and that some amount of failure is not instantaneous. It's over time. And so the kind of like base way of looking at it, they're like, oh, let's measure this on a 24 hour period. It's like, no, we're talking like a four week period, like a pretty long amount of time. So now we have four weeks worth of error that we're allowing ourselves at some rate. So if we're talking about four nines, then we're having like point one percent of error is allowed over four weeks. Do the math, you get this curve, you could do some integration, blah, blah, blah. Right. So you have this bucket of money, this bucket of error that you're allowed to spend. So you can spend it any way you want. You can accidentally spend it because something bad happened. You can spend it because you're trying something new and fancy and it didn't quite work out and it's fine. Right. But you're keeping track of it. So the important part about this is knowing that it's over time, knowing that the time is actually kind of long. Right. And so now the real question is, like, how do we know when to take action? Like, how do we tie this back to alerts? And so what we say is you should have a measurement against your error budget, which is, you know, by definition, tied to your SLO. And what we really care about is not the really the height of that error budget. Right. We don't care about how much is in the bank account. We actually care about how fast you're spending it. Oh, right. And so if you can say right now, so this like let's get into calculus a little bit. We're talking about like errors. Right. And then we derive errors and we get rate of errors. And so now we have our SLO, which is a rate. Now we're going to talk about deriving that thing itself. So what is the rate of the rate? Like, how fast are we spending the stuff? Right. So this is like the curvature of, you know, if you remember math. Right. So this is basically the second derivative of error. I'm sorry, listeners. I'm sorry. It's the best. Math is cool. Everyone loves it. But like at the end of the day, what really matters is like we have all this money, all these errors that we're allowed to spend. Are we spending it fast? Are we spending it slow? Right. Are we spending it so slow that by the time we get a new paycheck at the end of the month, it'll be fine? Like, we'll just, you know, just kind of dropping and dropping and then it goes back up and dropping and dropping. So really, you graph this number over time. Right. And you say, how fast is it going down? And if it's going down so fast that we can predict in one hour, we will be out of money. If that's true, which is a very easy piece of math that all computers can do. Yeah. You just say, OK, tell a human, right? This is literally it is now actionable, right? It is like you need to step in and do a thing like there's no ambiguity about it. Like we will run out of money in an hour. So you, SRE, get to fix it before that hour, hopefully. Right. There's a security example of that sort, but I'm kind of struggling to immediately come up with one because it's almost like the nature of the alert is not X happened and it's bad, but it's like something is happening and it's burning our error budget at the speed that would run out our monthly budget in an hour. But what do I tell the human? I tell the human about the thing that's burning the budget or the fact that it's being burned. Like, what do I do? It's almost like, Tim, help me with the security example. You need detection. I think Aaron has one. Aaron, do you have one? Yeah. Yes. I was going to translate this into securities, but I'm going to have to mention the R word, unfortunately. So what this really translates to... The blockchain? No. What it translates to is risk tolerance and risk acceptance and the entire understanding of risk and how much of it you're willing to, how much you've budgeted for taking place. That may not, though, translate to alerting because conceivably you want to know about this stuff a little bit earlier. What we would be describing would be an indicator of breach and how bad that breach is getting over time. Right. You do need a way to project and measure that. To tell a board, look, ransomware is this bad for us because it could cause this much disruption. So you are thinking about these things, but whether that converts to an alert, I'm not sure. What it does allow you to do, though, is to say, hey, if this thing that seems like it's eminently about to happen does happen, here's how long and how much it could hurt us. Right. So you're still treating it more. Here's the price. Exactly. You're treating it more proactively, though, in security. Yeah. The other terms to be aware of, and Aaron wrote a whole article about this that we should link to, which will happen in the show notes, listeners, the idea of symptoms versus causes. Right. So lots of times we talk about if this thing happened, it would be bad. That's a cause. Right. If we ran out of inodes on the machine, we would no longer be able to serve. OK, true. Yeah. But you don't alert on that. Right. Like historically we have. We would be like, so in that case, like, let's set an alert for that 90 percent of inode, you know, email the person with the thing. And this is not a good idea. Like it sounds like a good idea. It's a bad idea. Right. What we want to do is we want to separate symptoms from causes. So SLOs and error budgets, that whole thing I was talking about, that's measuring symptoms. So one symptom is like hard to dispute. It's like it's definitely there and it can have many, many, many, many causes. Right. Otherwise, if we have a bunch of causes, you can have a cause go off with no symptoms. Right. And that's because you have a robust system, which is actually what we want. So if we have a bunch of causes going off and they have no symptoms because we have such a great robust system, what are we doing? Nothing. We're burning out the operators. Right. We're just making them as we're causing suffering. Wait, what? Wait, wait, wait, wait, wait. Right. We're going back to the beginning, Anton. It's great. This is this is podcast gold. This is called a callback. This is a callback. I like that. Say more. Keep going. So, yeah, we want to be able to separate these two things. Right. So if we have a symptom, the tricky thing about symptoms is they can either be leading indicators or lagging indicators. Right. So if you're in like the best possible position, you have a symptom, which is a leading indicator of a bigger problem, and then you can measure it and you can say that it's true and you can fix it very quickly and you're great. However, most symptoms are actually lagging indicators. Most symptoms are like, doctor, I have a rash. Like, I'm sorry, you already have the problem. Like we can't prevent you from getting the rash at this point because you already have it. So, I mean, at the end of the day, like it's important to be able to separate these symptoms versus causes and recognize that some symptoms are signs that damage has already been done. But now it's a matter of kind of pocketing the damage. Right. So it's like damage control. Right. So how do we mitigate it? How do we prevent it in the future? How do we make sure that we have all of the stuff? Blah, blah, blah. Right. I've seen some interesting cases where security professionals hope to identify leading indicators, which end up being terrible indicators for anything that you would ever respond to. So, you know, it's like when somebody is like, tell me when I'm getting port scanned. It's like, well, if your thing's connected to the Internet, I can make the light turn red. But that's dumb and unactionable. So given this kind of framing of leading indicators and security might be really hard. How do we take this SRE thinking about incidents and adapt it to the world of security? Because they feel different. And importantly, in security, you have an adversary like the world of SRE. You don't have a bad guy out there who's trying to break your iNote availability. You don't have a bad guy out there who's stealthily trying to break your iNote availability. And so how do you take this like random occurrence thinking or bad code deployment thinking, which is like not driven by a sentient being, and apply it to a world where we're combating quite evil people? Absolutely. Yeah. This is the difficulty and kind of the point of demarcation where you start to say like, yeah, security actually does have a bigger challenge here. You've brought up something in particular with an adversary who's able to willingly deceive you and intelligently respond to your attempts to stop that, right? This is not a problem that you have with random systems failure. Again, though, what you can learn from SRE is maybe not exactly what to alert on. It's going to be different. It's really the method of prioritization, because what SRE has done is consolidated causes into symptoms, and then those symptoms are consolidated into one key principle, which is user happiness. In this case, availability, latency, all these things affect user happiness. What is it for security? I would say security, Jask, you know, people who got their certification recently, it's the CIA triad, it's confidentiality, integrity and availability. But what does that support? Because you clearly don't care about all those things for all different types of data. Those only matter in certain situations when it can affect shareholder value, your customers, et cetera, right? So there is a key principle in security, too. And by more accurately addressing how your technical system with its metrics affects that principle, affects shareholder value, et cetera, in financial terms, in terms that are discrete and consistent, as opposed to nine out of 10, five out of 10, this more subjective way, at the very least, it gives you a better way to prioritize. Okay, so I totally agree that prioritization should be driven by the outcomes that security professionals are trying to guard against, not just adherence to blind application of the CIA triad, but I'm still struggling to understand how the presence of the adversary changes the picture. Like, I agree that we care about a different set of outcomes, but what is having an active adversary change? It forces you to consider more conditions in your detection, right? And it also forces you to include more steps in your response. If you have a case where there's a sensitive action that could be legitimate user behavior, you're in a really tough bind there, right? But in terms of the response, in terms of what you do with the information that you have, part of the alert and part of the implication of the alert has to be multiple steps, like checking that the person, you know, the principal identity that's doing this action is actually online by sending a message saying, hey, is this you? If they say yes, checking that it's actually that employee that's logged in by, you know, giving them a USB OTP challenge or something to prove that they are who they say they are, there's more steps involved in the response. It's not just a purely technical response, like, oh, let's jump in and see what's going on. The thing that I would take from Esri to this is that like the generic models that we've talked about with like air budgets and alerting and all this kind of stuff, that's like the stuff that's really easy to talk about because it applies in many situations. But like the actual details of how do we fix the problem around this one incident that's always unique, it's unique to the environment and it's unique to the architecture and it's unique to the, you know, the date time, like the moment in which the event happened because of we made changes last week that we're not going to make next week. Right. You know, so there's all sorts of, you know, on the macro scale, things look like they follow a really simple pattern. And all you need is like an SLO and an air budget and some do some calculus or whatever. But like in the micro level, every single time is different. Like we have a phrase in Esri, we say, like, may all your incidents be novel. Right. Because we want to have the case where every time we solve a problem, we, you know, prevent future occurrences of it. Like that's kind of an ideal never really happens, but or build an automated process to respond. Right. Either prevent or automate the response of. Right. Presumably. Right. You don't just mean prevent. So the thing that I would bring from Esri to this situation where, like, you have these persistent threats and you have like these deep actors and these many step programs, like each time you do that, you have to bring software engineering in and you have to have someone like the model that we use that's simplified. But you get the idea is like every time you have an operator who knows how the system breaks and just feels it in their bones, they know what's going to happen next. Make a software engineer sit next to them the entire time and just take notes. Right. And then that system administrator or that operator might not be like into building software or even aware of what's really automatable and what isn't. But they know this problem in their core and having the software engineer sit next to them and like take notes and come up with ideas and and then say like, hey, what if we built this thing that made it so the customer couldn't do this and they had to do this instead and blah, blah, blah, blah. And the system in or the in this case, like the security engineer would be like, you can do that. You know, like often there's just like it's purely like this is just like product engineering, like where you go and you sit with a customer and you say, hey, customer, what are your problems? You know, instead of me just giving you something that I think you need, I should go sit in your room and understand your problems and and watch you suffer and then be like, I can fix that one. I can fix that one. I can fix that one. Right. This is this is just software engineering. Right. Yeah. And the key problem with an adversary is that unlike a random systems failure where it happens once and you fix it and move on, you will have multiple attempts and iterations and will keep trying something new. There's this problem of persistence and the degree of persistence may vary. Some would be like really persistent. I think that makes sense. Yeah. But I think what's interesting about that in my mind is that it points to the fact that in security we have something that's kind of different, which is the opportunity for a defender or a vendor of defense to gain leveraged protection across their fleet of customers. And so like in SRE, everybody's stuff is going to fail differently. But if there's a limited number of actors out there, in theory, as a defender, you could see them in one place and defend against them in other places. And so as much as like people say, oh, Tim, what's what's so hard about security? And I explained while we're securing systems and the intersection of systems that we're not responsible for. And by the way, there's a bear chasing us. The nice news is if we see the bear try to climb one tree, we now know one of the ways the bear likes to climb trees. And that's generalizable whether we're defending say these trees or those trees. So I do think there's actually kind of a really interesting difference there on the degree to which lessons are transportable as a vendor of defense. So are there lessons, other areas where they're like the lessons don't apply? Because when I started thinking about which SRE alerting lessons may not apply to security, my mind went down to the stealthy threats that quietly still date, you don't know about this, you and you feel the damage to your business in five years. But that's not really a scenario that's in your charter necessarily. That's in your boss's boss's charter, perhaps. So are there any other pointers or scenarios where somebody who is reading the SRE book or talking to you guys or talking to somebody else wants to apply the lessons for security whether he should not, he should really do things differently? What's the diff? I think there's a hard rule of thumb that you can follow when looking at SRE versus security. SRE is about risk mitigation, right? But importantly, when we talk about what type of risk, it's usually opportunity risk, growth risk, right? In order to expand my services to treat more customers in order to grow globally, in order to keep things running, I naturally will run into some risks. There's an upside to these risks, though, right? That's why I'm investing against them. With security, there's something more mysterious about it. And if we pick into why, it's because security deals with pure risk. There is no upside to these bad things happening to you, right? This is a profound thought of the day, actually. I sort of knew that and I think I've used it in the past, but it's really cool how you structured it is that some business risk has upside, downside security risk has no upside. I wonder what my boss's boss thinks about it, though. I have a suspicion. I don't know if I agree with that. I think there are cases in security where choosing to have less protection does have upside. Oh, no, yes. Not deploying an agent. You get 5% of your compute budget pack. Sure. Not requiring MFA. You get 20% lower shopping cart abandonment. Excellent point. Yeah, there are certainly these trade offs. What I mean is the risk that it's meant to treat, the pure risk presented by the threat actor, that is pure risk. But all the other things you mentioned, and then some more, right? Security has this unfortunate risk itself of creating, say, project or product risk. It can slow down a team's ability to release something which entails competitive risk. Security touches a lot of other parts of the organization that needs to be careful of how it interacts with them. Reliability tends to be temporal, I think is what you're getting at, Aaron, where it's like, it's down for this hour that it's down. And we lost money during that hour, or we lost opportunities during that hour. But like, IP theft is forever, right? Like, you know, someone walks away with your designs, they're gone. They're not gone for that hour during the incident. They're gone, gone. This is such a nice, depressing take. I think we should give him a security professional card. He would be an honorary security professional because he has, Steve has this great, depressing take, which I think makes him one of us, right? One of us, one of us. Cynicism is one of my best assets.
"at least $ 10 million" Discussed on WTOP
"WTO fee. This is CBS News on the hour. Presented by indeed dot com. I'm Deborah Rodriguez, negotiators met late into the night after President Biden and House speaker Kevin McCarthy got together again to try to reach a deal to avoid default in 9 days. They didn't, but correspondent Steven portnoy says they report progress. So House speaker came out of the meeting describing it as a productive give and take. I think the tone tonight was better than any other time we've had discussions. But Kevin McCarthy says, while both he and the president are still aiming for an agreement, philosophical differences remain. Mister Biden says cutting spending can't be the lone solution to the nation's debt problem, he wants to raise tax revenue. McCarthy continues to rule that out. The Secret Service has detained the driver of a U haul that crashed across the street from The White House last night, investigators reportedly found a Nazi flag inside the truck. Katie lusso. A witness told me he saw the driver of the truck try to not only drive into the fence once, but then back up and try again. Now police immediately started to evacuate the area evacuating the neighboring hotels. We were talking to some of the people that were inside of the hotels. They were very confused. No one was injured. Author E Jean Carroll is suing former president Trump again. This time for at least $10 million for repeating defamatory statements on a CNN town hall. Mister Trump claimed he never met Carol and called her story fake just a day after a New York jury determined otherwise and awarded Carol $5 million in damages. Michigan governor Gretchen Whitmer has signed a law that will allow family members or police to petition a judge to order guns be taken away from someone they believe is an imminent threat to themselves or others. We have heard
"at least $ 10 million" Discussed on WTOP
"We had a productive discussion. We don't have an agreement yet. House speaker McCarthy, who met one on one with the president, trying to hammer out differences over federal spending. McCarthy and Republicans are still pushing for cuts, while The White House also wants to raise revenue. President Biden says the political reality is that both parties have to be able to get sufficient support for a compromise agreement in Congress. You have to be in a position where you can sell it to our constituencies. We're pretty well divided in the house, almost the town of them. And it's not too different in the Senate. Talks will continue and the calendar keeps moving, with a default deadline still looming on June 1st. On capital hill, Mitchell Miller, WTO. Two 33. There's a new wrinkle this morning into the investigation into former president Donald J Trump's handling of those classified documents. The New York Times reports this week, federal prosecutors have apparently subpoenaed mister Trump's company. For information about his business dealings in foreign countries since he took office, not clear this morning what they're hoping to find or when exactly the subpoena was issued, a personal, a person familiar that would be with the matter, tells the times this week the subpoena was drafted by the office of the special counsel Jack smith. It seeks details on the Trump organization's real estate licensing and development dealings in 7 countries, including China and Saudi Arabia, a Trump organization spokesman did not immediately respond to the times request for comment on this story. The woman who successfully sued former president Trump is suing him again. Aging Carol won a $5 million sexual abuse in defamation award against former president Donald Trump, now she's seeking at least $10 million more than a new court filing that seeks to hold him liable for remarks he made after the verdict. An amended lawsuit seeking the $10 million in compensatory damages plus more in punitive damages was found in Manhattan by lawyers for Carol. They say remarks by Trump in response to her rape allegation so spoiled her reputation that she lost her longtime job as an L magazine advice columnist. They said in the rewritten lawsuit that Trump doubled down on derogatory remarks about Carol at a cable television appearance a day after the verdict. I Norman hall
"at least $ 10 million" Discussed on WTOP
"Unlike the last meeting in the Oval Office, which included other congressional leaders. McCarthy says he's pleased with the tone of the latest meeting, but acknowledges differences remain. I think it was productive in the professionalism, the honesty with one another and the desire to try to find common ground. President Biden says they both understand what's at stake. We still have to disagreements, but I think we may be able to get where we have to go. We both know we have a significant responsibility. That responsibility, avoiding a default on the national debt, which could still come due on June 1st. On Capitol Hill, Mitchell Miller WTO. One 34 Tuesday morning. She won millions in a recent lawsuit against the former president, but after he went on CNN and said more about her, she's now seeking more. CBS News correspondent Matt piper brings us up today a gene Carroll is now amended lawsuit seeks at least $10 million in compensatory damages on top of the 5 million she won earlier this month. It comes after what Donald Trump said the day after the verdict during a CNN town hall. I have no idea who the hell she's a good job. The lawsuit says Trump doubled down that night on his prior defamatory statements. What kind of a woman makes somebody and brings them up and within minutes playing hanky panky and addressing room? The original verdict came after a federal jury found that Trump sexually abused Carol in 1996 and then defamed her. Matt piper, CBS News. An attorney for mister Trump says this morning quotes, miss Carroll's 11th hour attempt to amend her complaint exposes the true motivation behind her numerous lawsuits. There are also new developments until this morning in the investigation into former president Trump's handling of those classified documents. The New York Times says federal prosecutors have subpoenaed the former president's company for information about his business dealings in foreign countries since he took office. It is unknown what the prosecutors are seeking or when exactly the subpoena was issued. A person familiar with the matter tells the times this week the subpoena was drafted apparently by the office of the special counsel Jack smith. It seeks details and the Trump organization's real estate licensing and development dealings in 7 different countries, including China and Saudi Arabia. A Trump organization spokeswoman did not immediately respond to a time to request this week for comment. WTO P news time, now one 36. Politics now campaign 2024 on WTO P, the latest for you this Tuesday morning. And the race for the Republican presidential nomination heats up again this week. Senator Tim Scott announcing his candidacy officially Monday at North Charleston, South Carolina. I'm living proof. But America is the land of opportunity and not a land of oppression. Jonathan Martin politics bureau chief at Politico joined us here on WTO V earlier. Say not only was Scott's rally energetic, he's also got cash. Well, the super PAC is very well funded. He's not going to lack for cash. And I think there's definitely a segment of the party that wants a sunnier more optimistic positive candidate than Trump. I'm not sure how big of a coalition that is. Also, I'm not sure how many ways it's going to be divided up. Martin says the 2024 race may end up a lot like 2016 when mister Trump never won a majority in the primaries, but built more support than his many competitors. We'll have to stay tuned. Turning to the tech worlds, first in the nation ban on TikTok and acted by Montana lawmakers as being challenged right now in federal court. TikTok lawyers argue that Montana's band is an unconstitutional violation of free speech rights and is based on unfounded speculation that the Chinese government could access users data. According to the lawsuit, TikTok says it has not shared and would not share a U.S. user data with the Chinese government. The federal government and about half the U.S. states have banned TikTok from government on devices. Montana's new law prohibits all downloads of TikTok in the state. The platform and app stores could face heavy fines for violations. On Norman hall. It is the morning May 23rd, 2023. Welcome to WTO P time now is one 38. Probably good weather on the 8s and when it breaks, first to Brian Alvin at the WTO P traffic center. And dean as we go back to I 95 northbound and Fredericksburg
"at least $ 10 million" Discussed on WTOP
"Had a productive discussion. We don't have an agreement yet. House speaker McCarthy, who met one on one with the president, trying to hammer out differences over federal spending. McCarthy and Republicans are still pushing for cuts, while The White House also wants to raise revenue. President Biden says the political reality is that both parties have to be able to get sufficient support for a compromise agreement in Congress. You have to be in a position where you can sell it to our constituencies. We're pretty well divided in the house, almost down the middle. And it's not too different in the Senate. Talks will continue and the calendar keeps moving, with a default deadline still looming on June 1st. On Capitol Hill, Mitchell Miller, WTO. The woman who successfully sued former president Donald J Trump is suing them again. Aging Carol won a $5 million sexual abuse in defamation award against former president Donald Trump, now she's seeking at least $10 million more in a new court filing that seeks to hold him liable for remarks he made after the verdict and amended lawsuits seeking the $10 million in compensatory damages plus more in punitive damages was found in Manhattan by lawyers for Carol. They say remarked by Trump in response to her rape allegation so spoiled her reputation that she lost her longtime job as an L magazine advice columnist. They said in the rewritten lawsuit that Trump doubled down on derogatory remarks about Carol at a cable television appearance a day after the verdict. I Norman hall. And there's a new wrinkle this morning into the investigation into former president Trump's handling of those classified documents The New York Times latest reporting says that federal prosecutors have subpoenaed mister Trump's company for information about his business dealings in foreign countries since he took office. It is not clear what they're hoping to find here or when exactly the subpoena was issued. A person familiar with the matter this morning tells the times this is Pinot was drafted by the office of the special counsel Jack smith. It seeks details on the Trump organization's real estate licensing and development dealings in 7 countries, including China and Saudi Arabia. A Trump organization spokeswoman did not immediately respond to a times request for comments on the matter
"at least $ 10 million" Discussed on WTOP
"Productive in the professionalism, the honesty with one another and the desire to try to find common ground. The President Biden says they both understand what's at stake. We still have to disagreements, but I think we may be able to get where we have to go. We both know we have a significant responsibility. That responsibility, avoiding a default on the national debt, which could still come due on June 1st. On Capitol Hill, Mitchell Miller, WTO. She 1 million in a recent civil lawsuit against the former president Donald Trump, but after he went on CNN and said more about her, she is seeking more. She'd be as news correspondent Matt piper. E Jean Carroll is now amended lawsuit seeks at least $10 million in compensatory damages on top of the 5 million she won earlier this month. It comes after what Donald Trump said the day after the verdict during a CNN town hall. I have no idea who the hell she's a job. The lawsuit says Trump doubled down that night on his prior defamatory statements. What kind of a woman makes somebody and brings them up and within minutes playing hanky panky and addressing room? The original verdict came after a federal jury found that Trump sexually abused Carol in 1996 and then defamed her. That piper, CBS News, an attorney for Donald Trump says, quote, miss Carroll's 11th hour attempt to amend her complaint exposes the true motivation behind her numerous lawsuits. There are some new developments tonight in the investigation into former president Trump's handling of classified documents. The New York Times says federal prosecutors have subpoenaed the former president's company for information about his business dealings on or in foreign countries since he took office. It's unknown what the prosecutors are seeking or when exactly the subpoena was issued. A person familiar with the matter tells the times the subpoena was drafted by the officers of the special counsel Jack Smith. It seeks details on the Trump organization's real estate licensing and development dealings in 7 countries. They include China and Saudi Arabia, a Trump organization spokesman did not immediately respond to a times
"at least $ 10 million" Discussed on WTOP
"Can sell it to our constituencies. We're pretty well divided and how so almost the town of them. And it's not too different in the Senate. Tax will continue and the calendar keeps moving, with a default deadline still looming on June 1st. On Capitol Hill, Mitchell Miller, WTO. The woman who was recently successful in a civil trial against former president Trump is suing him again tonight, AG and Carol one of $5 million sexual abuse in defamation award against former president Donald Trump, now she's seeking at least $10 million more in a new court filing that seeks to hold him liable for remarks he made after the verdict and amend it lawsuits seeking the $10 million in compensatory damages plus more in punitive damages was filed in Manhattan by lawyers for Carol. They say remarked by Trump in response to her rape allegation so spoiled her reputation that she lost her longtime job as an L magazine advice columnist. They said in the rewritten lawsuit that Trump doubled down on derogatory remarks about Carol at a cable television appearance a day after the verdict. I Norman hall. There's a new wrinkle in the investigation into former president Trump's handling of classified documents. The New York Times reports federal prosecutors have subpoenaed Trump's company for information about his business dealings and foreign countries since he took office. It's not clear what they're hoping to find or when exactly the subpoena was issued. A person familiar with the matter is telling The New York Times. The subpoena was drafted by the office of special counsel Jack smith. It seeks details on the Trump organization's real estate licensing and development dealings in 7 countries that includes China and Saudi Arabia, a Trump organization, spokesperson did not immediately respond to a request for comment. Campaign 2024 on WTO P South Carolina senator Tim Scott has launched his bid for The White House becoming the newest GOP candidate. I'm
"at least $ 10 million" Discussed on The Crypto Overnighter
"Close to what Sam and the others paid. John is himself submitted the highest bid of $1 million to buy back the company. But the bidding process revealed that $220 million paid by Sam's company for embed was significantly inflated compared to its fair value. Now while the FTX saga underscores the potential pit floss and legal complexities in the crypto industry, lawmakers in Texas are taking proactive steps to ensure greater security for customers of cryptocurrency exchanges. In a move that could set a precedent for other states, the Texas Senate has approved a bill imposing stringent reserve requirements on crypto exchanges. This legislation could mandate exchanges to maintain reserves sufficient to fulfill all customer obligations. On May 15th, the bill passed a vote in the state Senate and now awaits the governor's signature. Known as Texas House Bill 1666, the legislation seeks to amend that Texan finance code and previously passed through the House of Representatives earlier this year. Throughout the three readings in the Senate, there have been no significant changes to the bill's text from the initial draft. The proposed amendments would impose specific requirements on digital asset providers operating in the state. Exchanges serving over 500 customers in Texas and holding at least $10 million of customer funds would be prohibited from co mingling those funds with any other operational capital. Additionally, they would be restricted from utilizing customer funds for any transactions beyond the original demand by the customer. Furthermore, the bill stipulates that exchanges must maintain adequate reserves to accommodate all potential withdrawals at any given time. Companies would be required to submit a report to the Texas department of banking within 90 days after the conclusion of each fiscal year detailing their existing liability to customers. Failure to comply with these regulations could mean license revocation. Texas has been a proactive jurisdiction in terms of cryptocurrency regulation. In addition to the proof of reserve spell, the Senate previously approved a measure in April to limit crypto mining incentives. Concurrently, the Texan lawmakers voted to amend the state's Bill of rights, acknowledging the right of individuals to possess, retain and utilize digital currencies. As Texas is taking strides to enhance the security of crypto exchanges, halfway across the globe, Nigeria is marking a milestone in its journey with digital currencies. The Ira, Nigeria's Central Bank digital currency has completed its first year of operation, offering a unique perspective on the challenges and opportunities of implementing a CDC in a developing economy. The International Monetary Fund has released a working paper evaluating its performance during this period. IMF researchers commended the eyres debut last year, but also provided some suggestions for improvement. The emirate became the world's second CDC after the bahamian sand dollar when it was launched in October of 2021. The paper noted that the E niras retail aspect was intermediated and faced no latency issues. However, it has yet to expand beyond its initial adopters. The Central Bank of Nigeria implemented a phased introduction. This delayed the achievement of two major objectives of the CDC. Extending financial inclusion to the unbanked population and facilitating remittances. The paper stated that breaking the initial low adoption barrier similar to other network products like credit cards requires a combination of clever strategies and luck. The analysis revealed that only around 1.5% of wallets were active weekly. And that total number of transactions during the examined period was just 802,000, which might sound like a lot, but it translates to less than one transaction per wallet and less than 1% of bank accounts in Nigeria even have those wallets. Now, one key question raised in the paper is the relationship between the E nira and mobile money operators. Kind of a big deal given the extensive network of MMOs in the country. The en Ira could either compete with MMOs in the retail market or act as a bridge to facilitate their operations. The paper acknowledged that completely replacing all MMO services with the Ira would be challenging and could lead to significant industry reshuffling. The IMF expressed concern about the parallel underground market that serves as remittances. As a single currency system, the E nira can not directly accommodate regimens. The paper proposed two solutions one, allowing international money transfer operators to receive E and Ira wallets or to intermediaries. To enhance Ira adoption, the paper suggests utilizing the CDC for social payments in collaboration with MMOs to improve the social cash transfer system and increase adoption. Merchants could be incentivized to accept the E and Ira and while the Central Bank of Nigeria has taken steps to promote inclusivity through the Ira, remittances still need to be solved. And that's going to do it for us tonight. I want to thank you my listeners because when you stop listening, I will stop talking. If you enjoyed tonight's show, then please like follow the subscribe. Maybe leave a reading or review. And in the meantime, we'll see you tomorrow night.
"at least $ 10 million" Discussed on The Charlie Kirk Show
"Joining me now is Anna paulina Luna from the House oversight committee. And from the great state of Florida, we're honored to have her. Welcome to the show. Thank you so much for making the time for us today. We all watched with bated breath this morning as chairman comer and the rest made this it made an appeal to the American public. That's what I was watching congresswoman when I saw what they were saying they were like, please pay attention to these receipts. Pay attention to the evidence that we're putting forth to the American people because you don't seem very interested. Why don't you tell us congresswoman what you believe are the major findings from the House oversight committee and laid out in as much detail as you can? Well, first of all, in that initial hearing, I thought that chairman comer and representative Donald actually did a fabulous job in pointing out that the media has been complicit and I think running interference on behalf of the lustrous controlled administration that we're currently seeing out of The White House. And I say that for a few reasons. You know, they initially said when we started bringing forward this information that these were conspiracy theories, they said we'd never get access to the bank records. They basically put it and then during the Trump Biden debate in 2020, Biden famously said that he and his family never received money from the CCP, right? So he went on record and basically denied everything that we found and that was brought forward today. So I think the important takeaway for this is that one, we absolutely have bank transactions and evidence that the Biden family received payments from the communist Chinese party. And I'm talking payments in the sums of millions of dollars. These payments were replicated, not just for China, but also for another foreign government in Romania. That was done actually well, Biden at the time was vice president. So basically he was using his position to personally enrich himself and his family. And it's important to note that we've only really subpoenaed four banks right now and we got all of this information. We believe as of right now that there is upwards of 12 banks involved in all of this.
"at least $ 10 million" Discussed on Bloomberg Radio New York
"Then my business and you know I mean he's I'll be forever grateful You know to him Bramber Valdez who dominated the Red Sox last time out goes tonight against Charlie Morton who was with the Astros when they won the World Series in 2017 Morton also pitched in the World Series last year with Tampa Bay Meanwhile Associated Press reports in owner lockout is a near certainty in December that would halt all off season moves Seattle Mariners announced that their greatest player ever Ken griffey junior has joined their ownership group griffi called it a dream come true Rangers should have stayed on the road They went four O on the trip came home lost a Calgary at the garden 5 to one next beat Washington one O four to 90 Mother I put forward in New Orleans to win in Seattle 13 to ten The Jets have reacquired veteran TV Joe Flacco from Philadelphia He was needed due to the Zach Wilson knee injury that's going to sideline The Rookie two to four weeks Flacco was with the jets last season John stanch that went Bloomberg sports I think John we're coming up to 5 37 on Wall Street time for the tri state business report with Bloomberg and Kate's Luxury apartment sales in Manhattan have had their best week in 8 years The volume of high end sales hit more than 483 and a half $1 million last week 16 of the 50 homes that found buyers were listed for at least $10 million The biggest tally of so called trophy properties since March 2013 New Jersey transit is getting more buses Manufacturer NFI group says New Jersey transit has exercised options for 118 clean diesel commuter coaches Earlier this year NJ transit the third largest public transit agency in the country had also received delivery of 30 commuter coaches and 25 heavy duty transit buses Norwalk Connecticut based factset has hit a record high fact which provides financial data and software is up 30% on Wall Street so far this year That compares to the S&P 500 which is advanced 21% in 2021 With the Bloomberg tri state business report I'm Anne cates Thanks Anne It's 5 38 on Wall Street Bloomberg radio is on the air from San Francisco to New York London to Hong Kong Let's check in with our global news team for some of the top stories heard on our 300 affiliate radio stations around the world I'm Gina server and for WFLA and Orlando I'm talking about hertz big investment in Tesla and the shares of both companies surging On KF 8 the Omaha Kellogg calls on its union at a serial plans to resume negotiations Uncounted Bloomberg Devi digital radio in London we are reporting on Wednesday's budget with the Chancellor expected to lift the public sector pay freeze for millions of workers I'm Steve Potter scan on K and X in Los Angeles We're talking about trendy salad chain sweet green planting a public stock offering And those are some of the stories are.
"at least $ 10 million" Discussed on WSB-AM
"Biggest chunks will be the home mortgage assistance is also at least $10 million to help small businesses in the county. Once approved resident should get the money by the end of the month. While today's meeting is face to face, it will follow covert protocols. Reporting live. Bill Chi Accio 95.5 WSB Atlanta rapper Y F in Lucci's among a dozen people charged in a Rico indictment targeting alleged members of the Bloods gang. We've been working this case for approximately six months. Indictment sites social media postings by Luci, whose real name is Ray, Sean Bennett and others, as well as a song lyrics alleging their proof of gang involvement. Other criminal activity. Drew Findling tells Channel two action news. His client is innocent, his first Amendment right to musically express himself. Is no different than the famous rock song. I shot the sheriff. It's not criminal activity. Atlanta Police previously announced murder charges against Bennett in January, saying he was the driver in a December gang related drive by shooting that left one man dead. Double DS produced times. 604 former in Minneapolis police officer Derek Showman's attorney files a motion for new trial alleging jury misconduct. This comes as questions service About why Jor Brandon Mitchell answered No. When asked if he had attended any anti police brutality Rallies. 70 year anniversary for my King gave us I have a dream speech. So I mean that marches focused on voter registration. Either way, I was going to D. C for this event, even if George Lewis alive. The rally also featured speeches from Floyd's family. Chauvet attorney is asking the judge to question Mitchell. Severe weather damages homes and businesses across the south trees completely through my house, messing up The master bedroom. And then I guess there's room.
"at least $ 10 million" Discussed on Newsradio 600 KOGO
"She was shot and killed by a police officer is she and others were trying to get through a doorway after storming the building. An attorney for the family says the lawsuit will be for a least $10 million. And will be filed against the officer who fired the gun and Capitol police. The Justice Department earlier said it would not file criminal charges against the officer who killed Babbitt, The son of the reputed head of the Sinaloa cartel, pleaded guilty in San Diego Federal court today to conspiracy charges for his role in the cartels. Drug trafficking empire. 35 year old is male. Some body Imperial also agreed to forfeit five million and drug trafficking proceeds as part of his plea to all charges in an indictment that was returned in 2014 he faces between 10 years and life in prison. The D A in San Diego, says the drug take back day last weekend resulted in the collection of £7850 of unused expired and unwanted medications. Nationally, nearly £830,000 or more than 419 tons of drugs returned in. Since the first event in 2010, more than £14.6 million of medications have been collected. The D A holds the events for people to get rid of drugs that someone else could get ahold of more than a year after she was killed. The Army is releasing its investigative findings into the death of specialist Vanesa G. And at Fort Hood, The commanding general of U. S. Army Forces Command, Michael Garrett released the results of the investigation into the actions of Fort Hood leadership. In the harassment and murder of army specialist Vanessa PN. He confirmed scan was sexually harassed by her platoon leader. She reported it and army leaders failed to act despite having protocols in place. Federal investigators say again was working in an armory last April, when specialist Aaron Robinson not the same person who harassed her, bludgeoned her to death. He is believed to have later dismembered and burned her remains, which were found two months later. Investigation also found a serious of missteps that allowed Robinson to escape and when confronted by police after her remains were found. He shot himself as Jessica Rosenthal at Team of Volunteers in Louisiana is still searching for survivors of a platform ship that capsized in the Gulf of Mexico. 19 people were on the Psi Corps power when it flipped over and Hurricane force winds April 13th. Six were rescued. Six bodies were recovered. Seven people remain missing. Venezuela has freed six American oil executives who were jailed on corruption charges and placed them under house arrest in a goodwill gesture to President Biden. The men have been in jail for over three years since officials under Venezuelan President Nicolas Maduro asked them to travel from Houston in the Citgo company for a meeting when they were arrested. They were granted house arrest once before in December of 2019 on Lee to be re jailed two months. Later On the same day, President Trump welcomed opposition leader Juan Wait. Oh to the White House, the Dow down 1, 88 and 8 33,074 and now at 5 33 Coco's real time traffic.
"at least $ 10 million" Discussed on WTOP
"It. He asked for it least $10 million. She was shot and killed by the officer when she tried to get into a restricted area of the capital. During the insurrection. Two weeks ago, the Justice Department said it would not file criminal charges against the officer who killed Babbitt. It said there was insufficient evidence that he had violated the woman's constitutional rights. Babbitt was a 35 year old Air Force veteran. She was shot in the shoulder and died at the hospital. Christopher Cruz. W T o P News the trip from D C to Fredericksburg, Virginia, takes about an hour and one particular trip is big. Remembered for its connection with the struggle for civil rights. May 4th 1961 13th freedom Riders, seven Black six White got on a Greyhound bus in DC, heading for the Deep South, and the first stop was 50 Miles south. They went inside the Greyhound bus terminal in Fredericksburg, a white rotter used the colored on Lee bathroom and lunch counter. A black rotter used the white ones without problems, says Chris Williams of the James Farmer, Multicultural Center and Mary Washington University. Their bus was fire bombed by the KKK in Alabama. A marker's going up on the 60th anniversary at the site of the former Fredericksburg bus station near Log Unstained. W T O P News Next in money news. Wall Street ends a week with losses today who's driving all those dark gray vans? I'm Jeff label. Meantime, there's still a severe thunderstorm warning west of town not for rain, but for wind details Coming up. It's 5 24 Mobile is bringing five G from big cities to small towns across America..
"at least $ 10 million" Discussed on WTOP
"11 11, the family of a woman killed during the January 6th attack on the U. S. Capitol, says it's going to sue the Capitol police and the officer who shot her. Actually, Babbitt's family will reportedly asked for at least $10 million. She was shot and killed by the officer when she tried to get into a restricted area of the capital. During the insurrection. Two weeks ago, the Justice Department said it would not file criminal charges against the officer who killed Babbitt. It said there was insufficient evidence that he had violated the woman's constitutional rights. Babbitt was a 35 year old Air Force veteran. She was shot in the shoulder and died at the hospital. Christopher Cruz w T o p News Hundreds of people were arrested for breaking a curfew during the George Boyd protests in the district last summer. Well now DC's attorney general wants to help them walk away from those charges. 220 people arrested for breaking curfew in early June of last year We got a letter in the mail from attorney General Car Racine's office in it is an offer to have his office helped them get their arrest records sealed by a judge. Choosing the assistants would allow those who are charged to avoid a two year wait an attorney's fees that come with trying to do Do the same on their own. Of all those charged with the crime. Last year, the attorney general's office didn't prosecute a majority of the cases. In fact, only five went to court. Mike Murillo w T. O P. NEWS Maryland Governor Larry Hogan has ordered the U. S and state flags to fly at half staff in honor of a police officer who died this week. A few days after he was attacked. 54 year old Corporal Keith He Cook was a 22 year veteran of the Delmar, Delaware Police Department. He responded to a call about a fight at a home early Sunday morning in Del Mar, and was vicious. We attacked. He died at a hospital in Baltimore on Wednesday. Delaware State police say he Cook was assaulted by 30 Year old Randon Wilkerson of Salisbury, who witnessed says Wilkerson repeatedly slammed his foot on he cooks head while the officer lay unconscious, police say Wilkerson also attacked and seriously injured and elderly elderly couple who lived across the street. Coming up on w T o p a busy sports weekend with the NFL draft and the Kentucky Derby to talk about Dave Preston has more next. It's 11 14.
"at least $ 10 million" Discussed on KDWN 720AM
"They could. No, actually, no, they're not. They're not worried about they're not worried about Kovar 19. They're not worried about giving us any financial relief. They're worried about impeaching a president that impressive anymore. Okay, so, Jason, we're all over the place. We're going to get to that later on. If we could please stay on topic. 257539 Sixes. Go to Maliki, even though we were talking about Melania Trump's body. Hi, Malik. What's on your mind? What's up, fellas with Brian and J. B. That's what the correct one thing about that quote court on thing that Just name Michael. Course. Madison Madison Madison. Yeah, never served in the military. He was about to go to the Naval Academy and then he had a bike action in a motorcycle accident. So we never served so he didn't get injured in the military. I never said I never said he did If I said that I misspoke. Thank you for correcting on that. Yeah. Did you get into delivering pizzas? Yeah. I'm sorry. Horrible joke. 25 Year old, You know this Super Trumper queuing on Fanny's A. You know, looking at Marjorie Green and look at the congresswoman from Colorado. She just Lord Robert G lords over Judy. She got a D. Job that high school. It's fine. They're trying to carry guns into the Congress. One J. D. Keep up the good work, man. Keep on sucking that Donald Trump juice man. It's good for you. You might turn on your little bit J. I'm really I'm really not. I'm really not worried about Donald Trump. I'm more worried about America, and I am totally fine with trump juice with attacking or supporting Joe Biden based on the executive order of the policy that he puts up, We just don't talk about it very much. All right. Believe me, I appreciate I go when I go with the conversation. Well, what's up? What's up? Give him a palatial mansion turned orange. That was a funny forgot about that. I thought that was Alex. Hilarious. Probably thought that was that was very funny. I don't see a smile on JD's face, but I've definitely laughing. And so Sean, that was a very funny phone. Call Molly Donald Trump's juice. I just lost my appetite. 7022575396. Do we have Keith on the line? Let's go to Keith. Keith is next. Hi, Keith. What's up? What's up? Cube? 2575396 is the number to call. Let's go to Glenn. Glenn is next on the Vegas Take. Hi, Glenn. They hide on J. D. JD 30 Years ago, Bernie Sanders did not make the same salary that he makes day. So your math is way off. When you say multiplied 30 times today's sound Do you know what he made in 1991, which is when he became a rip represented for the first time, but Vermont? Salary. No, no. Okay, Let's say let's say it was anywhere from 1 20 to 1 40. Even at that rate, 29 times, 1, 40 or 29 Times. 1 30 is almost twice $2 million. You said here that doesn't that doesn't factor in any of this. Any of his investments it does. It doesn't factor in his homes. Bernie Sanders is worth way more than two million. Okay, so, according to Forbes was downplaying his network to make him look like more of like more of a cortical philanthropist and let me repeat once again. It's just not the case like Bernie Sanders. In my opinion, just working at least $10 million. What 25. I'll be stretch and I was a good man and I retract. My statement by repeat once he's not worth $2 million complete Bs. I know we don't like to interrupt each other here, but let me repeat Once again. We're not interrupting the fax. Facts are that Bernie Sanders is worth an estimated total, according to several legitimate organizations that actually did research. You did none. $2 million. Okay, That's what Bernie Sanders is worth. So JD can say whatever he wants about what he thinks Bernie Sanders. Net worth is, but there's no thinking involved here. Glenn, You know what I'm saying? By the way, actually actually did the reasons I just told you he couldn't I just told you clamp down before done Yet before 1991. He was making 40 grand years as the mayor of Burlington. Got after that from 1991. Till now he has been a member of Congress, either as herb representative or senator. He also addressed 300. His wife looks Bernie Sanders that worth more than $2. Million J. D. You have no idea what you're talking about. Just explain to you why it is you did have expenses. My God and JD because he does 30 seconds And I'm trying not to make this personal. But when you do 30 seconds of research on your cell phone during a radio show, I'm certainly sure that politico and other organizations did a little more research than you. And you. You're the one who put out the $25 million number. Now, all of a sudden, it's down to 10 million I took. I took it back. Okay, But now you say 10 million, which is also, if actually no, it's not. All right. Let's go to JD JD is next on the Vegas take What's up, Betty? Thank you for the call JD. We, uh we appreciate we have enough time. We don't think even have enough time for another call. So here's what we're gonna do. Simply put, ladies and gentlemen. Donald Trump. Impeachment is now up in the Senate. Now there are a lot of Republicans. I do not agree with this. But there are some Republicans that have changed their tune. Joe Biden made some statements about this impeachment. We'll give you his words and exactly what he said coming up next, and we will give our opinions on whether we think Donald Trump should actually be impeached, and you might be surprised. Little bit, by my opinion on how I feel about this thing. But before we even give our opinions on whether we believe Donald Trump should be impeached and what's going on in the Senate right now as we speak. Before we do that. I'm going to play you a little bit of audio coming back next. You're gonna hear from Kevin McCarthy. You're also going to hear from many Republicans out there like Ted Cruz, Marco Rubio, Lindsey Graham, Susan Collins, Kellyanne Conway, Rand Paul. Even Glenn Beck. What they had to say about Donald Trump 4.5 years ago might shock you, We'll take a quick break. We'll talk a little impeachment. When we get back here you.