37 Burst results for "Avalanche"
A highlight from 1273. Ethereum Built on Bitcoin | Spiderchain Layer-2 INTERVIEW w/Botanix Labs
Fresh update on "avalanche" discussed on Simply Bitcoin
"On May 20th, 2021, your public calendar notes a call with Senator Menendez. What was discussed during that call, if you can remember? Two years ago, sir, but if I recall, there was some discussion about possible disclosure by public companies of political contributions. You hired Mr. Gruol as the SEC's Director of Enforcement shortly after that May 20th call. Are you aware of the glowing statement in support that was put out by Senator Menendez praising your hire? I thank you for letting me know that, but until you told me, or until today. Well, I'm deeply concerned about this, and I'll be following up with your office with additional questions and expect a written response. Mr. Chairman, I really liked your colorful testimony, and you're right. We are blessed with the largest, most sophisticated, most innovative capital markets in the world, but we cannot take this for granted. Even a gold medalist must keep training. With all due respect, Mr. Chairman, if the U.S. capital markets are a gold medalist, you are the Tonya Harding of securities regulation because you are kneecapping the U.S. capital markets with the avalanche of red tape coming out of your commission. Oh, man, the Tonya Harding. That was hilarious. I haven't heard that name in a... All right, we're not going to age ourselves here, but we've got another clip, and this is Representative Wylie Nichol getting SEC Chairman Gensler's comments on the Grayscale Bitcoin ETF court decision, and we've covered this a lot, and let's see what he says about the court decision and the approval of Spot Bitcoin ETFs. I want to move on to our Grayscale letter. I sent a letter to you yesterday along with my colleagues, Congressman Flood, Torres and Bitcoin ETPs after your recent loss in court to Grayscale. Now that the SEC has the court's decision in hand, rejecting your rationale for denial, does the SEC plan to approve the current pending Spot Bitcoin ETF applications? Thank you for your letter. I did read it last night.Again, we're still taking this under advisement. It's a recent court action, and staff and commissioners will take it up as appropriate. The court concluded that the SEC's denial of Grayscale lacked, quote, a coherent explanation and then, quote, unquote, falls short of the standard for reasoned decision making, and then was, quote, unquote, arbitrary and capricious. How do you explain the SEC's actions there? We do that which we do under the law as best we can. Sometimes things go into court. We're still considering that court decision. I think it was a district court. I'm sorry, it was appellate court, appellate court, but we're still considering that appellate court decision, and I don't want to get ahead of the staff or my fellow commissioners. And of course, in typical Gary fashion, he dodges the question. Reminds me of, you know, attempts at dodgeball back in middle school. I could really rip the ball, so if you were trying to dodge, probably equally as ineffective as that. One time I broke this little girl's glasses, though, and I felt like total shit. If you're out there, I'm still sorry for that to this day. I actually threw the ball at a friend. Dude dodges. I see it just go to the back of the gym, drill this little girl, glasses break, she starts crying. I just walked out of PE, straight to the office, went to the principal, I was like, I'm sorry. And he was like, shut the hell up, get back to gym, Jesus, what's wrong with you? And I was like, oh, sweet. I was so used to getting in trouble, I thought I was trying to take the initiative that time, but let's get back to the real shit that matters. Guys, one thing, the dollar is going to zero. It's lost 90% of its purchasing power and beyond since the Federal Reserve was created. If you guys checked out our episode the other day involving a senator and bribes and corruption, check out this clip. Rabinstein didn't put this together. But if you're looking for any Bitcoin related gifts, things like that, be sure to just go into GIF, type in Rabinstein, and he's got all the good stuff to fit what you need. But this is hilarious, and it fits so perfect. So I'm going to let this play. We are devaluing American money so rapidly that in America today, you can't even bribe Democrat senators with cash alone. You need to bring gold bars to get the job done just so that the bribes hold value. I'm a huge Seinfeld fan, so whoever did that, you're incredible. That was awesome. And we've got another great clip for you guys. This from Thomas at Hey Apollo, all truth passes through three stages. And we can see this with Bitcoin, you know, first it was ridiculed. Now we have congressmen demanding a spot Bitcoin ETF approval. I mean, come on, shit's getting crazy. But we have this cycle. First, it's ridiculed. Second, it's violently opposed. And third, it just is accepted as being self evident.
A highlight from The Chopping Block: Which DeFi Metrics Are Still Useful in a Bear Market? - Ep. 550
"Token economics can do way less than the industry on the whole has claimed that it's able to do and so for the most part I Sort of consider token economics to be a little bit of a dirty word today compared to how I saw it two years ago It's a tale of two fun. Now. Your losses are on someone else's balance generally speaking aircrafts are kind of pointless Anyways, I'm into trading firms who are very involved DeFi protocols are the antidote to this problem Hello everybody Welcome to the chopping block every couple weeks the four of us get together and give the industry insiders perspective on the crypto topics of the day So quick intros first we got Tom the DeFi Maven and master of beams Next we got Robert the crypto connoisseur and czar of superstate then we've got to ruin the giga brain and grand poobah at gauntlet And finally, I'm a seed that had high mana dragonfly So we're early stage investors in crypto But I want to caveat that nothing we say here is investment advice legal advice or even life advice Please see chopping blocks at XYZ for more disclosures Alright, so it's been a crazy couple weeks. There's been a lot of conferencing going on I think most of us minus Robert were at token 2049 in Asia I guess Tom and to ruin you guys are back in the States. There was also main net in New York What's been the vibe? Give me give me the brain dump of what conferencing has felt like in the last few weeks The u .s. Is dead as a doorknob for crypto It seemed like the u .s. Conferences had less attendance than they normally do amongst other things Whereas the Asia conferences were crazy like I just didn't think there were 12 ,000 people who wanted to go to a crypto conference in 2023 and clearly there was much more in Singapore Singapore was insane Yeah, I think token 2049 had more people than East Denver. Like it was it was pretty wild I mean it is like the premier event in Asia and it's sold out. Yeah It was gigantic venue, right? One of the I mean obviously if Denver was a very large venue as well, but it was it was it was absolutely massive Robert you were at permissionless. How did permissionless feel? I mean compared to prior years permissionless Felt, you know pretty quiet really high quality group of people, you know The conference goers that were showing up to a conference in Austin, Texas during a relatively hot week in September We're not totally like broad retail audiences. Most of people that were closer to industry closer to Happening in this space and a little bit more informed than you know, I've seen elsewhere so Small like token 2049 pulled a lot of people last -minute from permissionless I think a lot of people were planning to go and then decided like oh shit This seems like there's so much happening in Asia. I gotta I gotta go out there So I think the timing was a little unfortunate for permissionless, but there was a clip of Eric Voorhees Giving I guess what was like the keynote. It was pretty amazing. If you haven't seen it, I would strongly recommend watching it It's got like a couple million views or something and it's essentially just like a rallying cry Just sort of a credo of hey, you know screw the government Like we're trying to build a decentralized alternative financial system and it really kind of plucked to the heartstrings I don't know. Do you see that live? I did not see that live I actually had to take off right before that speech, but I was able to watch it online afterwards It reminded me a little bit of a his debate with SPF. I think like a year ago It was almost like it was like a month right before FTX collapsed and it was similarly kind of getting back to kind of the core Religion ethos of crypto is very we gotta get him on the show at some point He's definitely he's a very good bear market in a bull market I always feel like Eric is a little too centered and like too grounded bull markets They kind of demand a bit more craziness and levity but in a bear market I feel like he's got this gravity that is very clarifying You know, I really I really appreciate the role that he's come to play as like the elder statesman of the industry Any other takeaways from token 2049? I mean we were out in Asia for a couple weeks the videos have just started going up for token 2049 and I did one panel that I moderated with a bunch of l1s and It was actually probably the most entertaining panel I did I did I did several panels while I was out there But most of them were you know, they were great but this one we had it was Aptos we Avalanche and near all of whom were on stage and Goon who's been on the show a couple times Goon was just like he just basically was ready to pick a fight and so they just got on say they were scrapping they were like interrupting each other and getting super aggressive and It was honestly the most entertaining panel. I think I've ever moderated just from how angry everyone was on stage So any other any other highlights or anything that stood out to you guys while you were giving talks or or moderating? How about being on stage but I'll say there was a bit of a bizarro world moment with them token for 2049 too Where obviously a lot of high quality projects a lot of good representation throughout the industry and then there were a lot of random products I'd never heard of that had these like massive, you know Sort of neon lit up boots that they clearly spent a bunch of money on I believe Islamic coin was one of the large sponsors I am a not an Islamic coin expert, but there was another sort of meme floating around They're doing a public crowd sale for Islamic coin at reportedly a 30 billion dollar f .d .v I think it's like 60 million dollars raise a million dollars wait, so it's Yes, but they went on on Twitter to explain that this is a 100 year f .d .v And so in reality the the near -term f .d .v. They're nothing into is not near -term f .d .v So, um, you're the more than the near -term market cap I think we need we add we need to add some extra f .d .v Numbers in into coin gecko just so we can start the near -term f .d .v long -term f .d .v You know, I think an interesting thing related to this That's a tiny deviation but important to note is the history of finance Actually has had a lot of things where the introduction of a new met financial metric as a form of reporting Completely changes company structure like EBITDA, right? like why does EBITDA exists like earnings before income tax depreciation depreciation amortization and it's like Because it was this some company that was losing money and they started reporting EBITDA instead of like true profits But that kept them afloat for long enough to raise financing and then EBITDA now became like the accounting standard over time Right, so I kind of think that these f .d .v games We're gonna just see this like war of all these metrics and whichever metric is like the market wants will eventually be the standard and everyone Will just try to optimize that. Yeah, this is 100 % what happened to TVL Yeah TVL in principle makes sense as a number right, but how do you count TVL? Do you count your own token? Do you count wrap versions of your token if somebody wraps your token and puts it back in your protocol? Is that double the TVL like, you know? DeFi llama just decided how TVL gets counted and then the rest of the world just warped around the way that you know These metrics decided to get reported and you of course you saw that on Solana where like all these people were recursively Kind of putting TVL from one protocol back in another one back in another one Now I think we've gotten better at not double counting triple counting But you know back in in 2021 when DeFi was in full thrust It was just whatever goes like that's TVL the other chart crime that exists is that I really irks me is when people show cumulative charts instead of like instantaneous charts it I just like kills me I Will say as a VC let this be like a little one -on -one lesson as a VC. We absolutely hate cumulative charts We understand that cumulative charts look good So for those who don't understand a cumulative chart normally when you have a chart you look at look Here are the number of transactions every day, right? cumulative chart is here is the total number of Transaction volume ever if you add it all together and the nice thing about cumulative charts is that they look like they're going up Into the right always no matter what because they're adding, you know It's like the number of how many trades have been acting positive number. Yeah, exactly The problem is that it is useless to look at as a VC We as a VC and you look at a cumulative chart What I assume is that your actual chart looks like dogshit and that's why you're showing the accumulative chart So in general don't show cumulative chart. However, if it's a chart with multiple dimensions shown if it's a cumulative chart and a daily or time period flow Together then it's cool. Is it? You know, I'm already doing the first derivative Okay, let's say let's say you have a daily chart and it's like net inflows We're like some days are positive. Some days are negative. Some days are positive. Some days are negative You don't know the total you find that that's a net chart not a cumulative chart So if you're netting, you know gains and losses and you're getting like P &L or something like that We're net inflows and flows that's not a cumulative chart. That's very different because that does not go up into the right I agree. No, no, I think Then it's well Complimented with a cumulative on the other access behind it. I Net and cumulative are two different things. I did see it. I agree. That's just a U .M. We should have a chart crime episode The truest of VC true crime it was inflows prefer for friend tech, but they didn't take out the outflows So it was literally just any deposits in a friend tech added to the chart And so of course you assume you're gonna be looking at a net chart And in fact, it's any sort of deposit, you know adds to the overall chart, which is kind of a useless metric chart crime chart crime Any other any other chart crimes that come to my lungs are on the topic? I think these like feed accumulated ones where they're like people who are like trying to annualize I think people annualizing certain types of fee accrual and crypto sometimes makes no fucking sense because it's very event driven like oh Like there's a ton of fees from one event and then like zero forever But they always like choose the right time scale so that they can say like we have at least X of fees Like I understand how integrals and derivatives work and you're just trying to play with the boundary conditions Yeah, I mean I saw a lot of this in 2021 when a bunch of people like a bunch of businesses that had a bunch of random core businesses but almost all of them had tokens on the balance sheet and those tokens went up and they counted that as revenue and So they're just like, oh, you know, I had 50 million of revenue this year And if you charge that forward, you know another 50 next year and it's gonna ramp this much I'm like dude your core business made like 3 million and 50 million just came from tokens going up on your balance sheet. Like that's not your business, you know, so that I mean It's kind of charty. I don't know if it's a sharp crime per se but it's like EBITDA, right? Like I think crypto still is so nascent and the idea of like what should count and what shouldn't and what flows are it's still Kind of an open thing of like what the accounting should be, right? So I kind of think I'm kind of curious what EBITDA like the thing that becomes a like meme that sticks That's not TVL and that that's not just like fees What do you think you guys think it is because I do feel like this bear market My prediction is this bear market will end when we have invented what that is like the last bear market ended when TVL started becoming a metric and then people started monitoring it and like not gaming it as much and It was just kind of going up slowly. I feel like the Solana stuff came to even more where it was like, oh Here's the metric that everything's measured on So what if we come up with these crazy ways to like that's usually the end of a bubble, right? Like like once when it goes not the creation of a little baby That was like that was like the kickoff of the book I know I don't know but my point is like once you start getting kind of a shelling point around a particular metric It doesn't get gamed for a little while Like there's like a certain amount of time where it like it becomes a good real standard bearer But then someone eventually realizes that it's the thing to game and then you get this like kind of capital bubble around that So like AI you're having that happen with tokens per second right now Which is also a fucking useless meaningless thing because like the choice of architecture means the tokens aren't really the same There's not fungibility of them. Sure. I think it feels like right now There's a more and more fixation on revenue. And so you're seeing like, you know token terminal if you're looking at there's just revenue There's annualized revenue. There's price to sales price to earnings. So it does feel like we're sort of Morphing more closer to traditional revenue and underwriting metrics, which is a good sign However, these metrics aren't totally normalized in the sense that you know, for example for Uniswap Does Uniswap have revenue like obviously the token holders aren't capturing anything so the revenue is flowing entirely to You could say like cost of goods sold is like 100 % because all the revenue is going to the liquidity providers I would say, you know One of the biggest issues is that you have like protocols that are not businesses and people are trying to strap like business metrics or accounting metrics on them and they're just not like Ethereum Bitcoin like people are like, oh like, you know fees paid like is that revenue? No, it's not revenue, right? Like I don't think anyone thinks that like the transaction fees on Bitcoin or revenue. Are they on a theorem? No, but like I've seen platforms that like talk about That alongside something like Uniswap and it's like none of these really makes sense It's just like someone trying to build not to knock anyone particular company But someone trying to build a company about standardizing data is like, oh great Let's like standardize how we look at everything and I don't think it fits personally I don't think these protocols living on top of blockchains are necessarily businesses or need business metrics. I don't think it's that helpful I think like projects and For success like how many people are you know doing X Y & Z and like it won't always translate to the thing What do you think are metrics that should be adopted in lieu of? You know revenue or price of sales or whatever all the stuff that people are doing to try to account for You know particularly in defy I think for layer ones. It's a little more nebulous I think it comes down to exactly like what the protocol is, right? So like a great example is even taking two things that like seem like there's the same Let's say like Uniswap first like synthetics Well, both of them are for trading like, you know, one of them, you know is for trading spot tokens And one of them is more like derivatives, right? So like would you say like total notional traded like that might look crazy, you know to use that as comparison like I guess my point is like even two things that look the same are gonna be vastly different when you think about how you judge them or measure them and so All I'm trying to say is like, you know, let's slow down and not trying to come up with one size fits all metrics I don't think there is some like EBIT type But they will love defy broadly it trying and and when people get any shelling point on one of those That's when you see capital formation happen because it's like hey look there's this metric we can optimize it we see the growth curve right like growth implies you have a number or a set of numbers and a derivative like a gradient and The gradient can go up and you're like, yes or more money in it and I do feel like there's like a Psychological human behavior element to this and crypto somehow plays with that in a lot of ways and that that's some of its beauty Is that the fact that it kind of plays with these I think the revenue thing also is like a good I agree like it's really difficult to sort of compare across different types of companies, but generally it's a good heuristic for Understanding like product market fit and desirability just showing willingness to pay right like you can't fudge it because I'm literally burning money I'm spending money to use this this protocol saying something with like, you know net dollar retention at revenue retention overall It's like user retention Like yeah like it I think that's generally sort of a good heuristic because it's showing that if people are actually using these things consistently because they want to use it not because ideally you sort of you're tying out the I'm inclined to agree with this is that although it is an abuse of nomenclature I think you're better off thinking of protocols as products and thinking about like if you can just applying very kind of dumb Simplistic like yeah, they don't work perfectly, but they're way better than just like finger in the air What's TVL and kind of how do I feel like the vibes are trending for this particular protocol? I think it at the very least it keeps you honest if you look at the era Pre when people had concrete metrics that they were looking at like protocol revenue and things like that There were just a lot of things that had you know, take for example, then you have and you had 4chan economics Whatever was posted on 4chan was the truth totally totally and also like not looking at like net of emissions Looking at like willingness to pay net of emissions Like you just end up with this crazy town where it's like Oh, there's basically like a negative cycle where people are making money by using your product You're like, wow, I've parked my good fit There was basically an entire year where every hot product in crypto was that it was people it was being like wow Look how much adoption this is getting when it's really just people clicking a button that pays them every second to be very fair That is it's like it's so funny enterprise SAS bubble also had the same thing It was just the way the capital is distributed.
Fresh update on "avalanche" discussed on Tech Path Crypto
A highlight from 1415: Bitcoin Will Soon Hit $500,000 - Winklevoss Twins
"Welcome everybody to Crypto News Alerts, the number one daily Bitcoin pod. In today's show, I'll be breaking down the latest Bitcoin technical analysis as Bitcoin recaptures $27 ,000 and quoting Max Keiser, the high priest of Bitcoin, Bitcoin is the North Star guiding to the only safe haven asset in the world that protects against inflation, confiscation and censorship preach. Also in today's show, Ethereum futures ETFs can start trading as early as next week. According to top Bloomberg analysts, we'll also be discussing the SEC pushing back the deadline for spot Bitcoin ETF apps, definitely not a good look. And speaking of ETF apps, I'm also going to be sharing the five highlights of Gary Gensler's evasive testimony before Congress quoting Senator Warren Davidson. Gary Gensler's tenure at the SEC highlights two key problems. Number one, Gary Gensler's problem and number two, the SEC's structural problem. That's why I introduced the SEC Stabilization Act to fire Gary Gensler and restructure the SEC. Let's freaking go. Also in today's show, crypto analyst Michal van de Poppe predicts a very positive quarter four for 2023. I'll be sharing his targets in which he outlines. We're also going to be discussing the SEC's inaction on the spot Bitcoin ETF is a complete and utter disaster, according to the Winklevoss twins. And speaking of the Winklevoss twins, I'm also going to be sharing with you their $500 ,000 Bitcoin price prediction, which they say is coming soon. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts .net. Again that's cryptonewsalerts .net. Welcome everyone. This is pod episode number 1415. I'm your host JV. Today is September 28, 2023 and Bitcoin is finally back above 27 ,000 as we're pumping right when I hit the live button. We're currently above 27 ,100 up over 300 % today and we continue climbing. Welcome everyone in the live chat. I gracefully appreciate y 'all. Yeah, who knows? Maybe we'll hit 28 ,000 by the time today's live stream is over. Let's see. And make sure to let me know where you're tuning in from in that live chat as I'll be giving everyone a shout out towards the end of the show. And with that being shared, fam, now let's dive into today's market watch. As you can see here, every major crypto back in the green. Bitcoin above 27 G's. We got Ether up three and a half percent trading at $1 ,655 BNB, XRP, Cardano, you name it. And checking out coinmarketcap .com, we're currently sitting above $1 .07 trillion with about $26 billion in volume in the past 24 hours, Bitcoin dominance at 49 .1 % and even the Ether dominance on the rise today at 18 .5 % and checking out the top 100 crypto gainers of the past 24 hours, holy moly, compound up 20 % trading under 49 bucks, followed by Thor chain up 13 % trading at $1 .94, followed by Lido Dow up 8 % trading at $1 .59 and checking out the top 100 crypto gainers of the past week, massive gains, which we love to see, especially after a pretty bearish altcoin season to say the least. We got CompLead in the pack here as well up 20 % and Rune up 13 .4 % and RLB up 13 % and checking out the crypto greed and fear index, we're currently rated a 46 in fear yesterday at 44 last week, a 47 and last month, a 39 in fear. So there you have it, fam. How many of you are currently bullish on Bitcoin and how many of you took advantage of the recent dip? If so, let me know. It's good to see we pump in once again. So hopefully those positions are now in the green. Now let's break down today's Bitcoin technical analysis, check out the charts and why specifically the market is pumping right now. Here we go. Let's get it. Bitcoin hit new weekly highs after the September 28th Wall Street open as markets awaited fresh cues from the US Federal Reserve. And here you can see in the Bitcoin one hour Campbell chart, pretty freaking bullish to say the least. Data from Cointelegraph and TradingView showed Bitcoin price strength staging a comeback, having delivered what some referred to as a classic pump and dump 24 hours prior during the performance. Bitcoin hit a high of 26 .8, which appeared on Bitstamp as a result of 2 % daily gains before Bitcoin retraced all of its progress, then a slower grind higher than took hold with the bulls edging closer to 27 ,000, which we finally just recaptured here a few moments ago. Now GDP for quarter two grew by 1 .7 % year on year below the projected 2%, while the PCE index data for August came in in line with the expectations, quoting analyst Keith Allen, bring on the volatility. Now meanwhile, data from Binance's order book uploaded by Allen showed little by way of resistance standing in the way of the spot price under the 27 ,000 mark. So as you can see, just more bullishness for the king crypto, the macro data constituted just the prelude of the day's main event. Meanwhile, Jerome Powell, the chairman of the Federal Reserve due to the comment later on today, Powell, whose recent words failed to deliver noticeable volatility to the crypto markets was due to speak at the Fed's conversation with the chairman, a teacher town hall meeting event in Washington DC at 4 p .m. Eastern today. Now commenting on the state of play on Bitcoin markets, popular trader Dan crypto trades was a little more optimistic around the strength of the day's move compared to yesterday, September 27th, quoting him here back to yesterday's highs, but with considerably less open interests. No doubt there is longs chase in here, but it is less frothy than it was yesterday. Would still like to see longs chill out and not get to a full retrace later on. So there you have it. Let me know if you agree or disagree with the analysts. Meanwhile, quoting another analyst, right, capital Bitcoin is right back at the bull market support band cluster of moving averages, challenging to break out beyond them. Let's freaking go. Now, elsewhere in the day's analysis, he acknowledged that 29 ,000 could make a reappearance and still form a part of a broader come down for BTC. As he shares here, it's important to remember the Bitcoin could technically rally even as high as 29 ,000 to form a new lower high, which would be phase A and B. He explained alongside this chart. So there you have it. Let me know if you are currently more bullish or bearish on the King crypto and quoting the high priest of Bitcoin, Max Kaiser, Bitcoin is the North star guiding to the only safe haven asset in the world that protects against inflation confiscation and censorship preach. Now welcome to y 'all just joining us in today's podcast. As always, I appreciate everyone's daily support and means the world. And now let's discuss our next story of the day as Bitcoin continues to pump, shall we? We're going to be discussing the Ethereum futures ETFs, which can get approval. They say potentially as early as next week. So let's break this one down, shall we? Ether futures ETFs could start trading for the first time in the United States as early as next week. According to top Bloomberg analysts on September 28th, which is today, Bloomberg intelligence analyst, James Safart said in an ex post, it was looking like the sec is going to let a bunch of Ethereum futures ETFs go next week. Potentially. His comments were in response to fellow ETF analyst, Eric Balchunes, who said he was hearing that the U S SCC wanted to accelerate the launch of Ethereum future ETFs quitting him here. They want it off their plate before the shutdown, he said, adding that he's heard various filers updates on their documents by Friday afternoon so they can start trading as early as Tuesday next week. As outlined here on X. Now the U S S government's expected to shut down at 1201 a .m. Eastern on October 1st. If Congress fails to agree on or provide funding for the new fiscal year, which is expected to impact the country's financial regulators amongst federal agencies. Now neither specified their sources for the latest update on the long list of crypto ETFs in the queue. There are currently 15 ether futures ETFs from nine issuers currently awaiting approval. According to the analysts in a September 27th note, which is yesterday, companies proposing an Ethereum futures or hybrid ETF product include VanEck pro shares, grayscale volatility shares bitwise direction, as well as round Hill. The analysts gave ether future ETFs a 90 % chance of launching in October with Valkyrie's ether exposure on October 3rd, quoting them here. We expect pure Ethereum futures ETFs to start trading the following week, thanks to volatility shares actions. However, we don't expect all of them to launch. So do note that now as previously reported that ether futures ETFs may be approved in October causing the 11 % spike in ether prices and probably why the Ethereum dominance is up as it's been stagnant and down for quite some time. Ether prices are on the gain, currently just under $1 ,700 and we'll see how high we continue to pump, but do note crypto future products aren't as hotly as anticipated as their spot based alternatives. There are already been Bitcoin futures ETFs approved in the United States since 2021, which is a fact, which leads us to the million dollar question. Why have they approved a futures ETFs, but continue to deny and delay all the spot ETFs? We're going to be getting to that a little later as I share with you the highlights from Congress pressing the chairman of the SEC, Gary Gensler. It's going to get very interesting here in a little bit, but now let's dive a little deeper and discuss specifically the spot Bitcoin ETFs and what is happening and why they're being pushed back and the latest updates of where we're currently at. So here we go and welcome y 'all just tuning in. Make sure to smash that like fam. The US SEC has delayed deciding whether to approve or disapprove spot Ether ETFs. And like I said, we're going to be getting in October potentially get some approvals, but in separate notices filed September 27th, the SEC said it would designate a longer period on whether to approve or disapprove these proposed changes. The commission finds it inappropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised there within. The delay came the same day as the NASDAQ market filed the proposed rule change with the SEC for listing its mix ETH basically ETF, a combination of Ether holdings and futures contracts and also proposed rule changes with the New York Stock Exchange, ARCA for the Grayscale Ethereum Futures Trust, hashtag Bitcoin Futures ETF and the CBOE BXE exchange for the Franklin Bitcoin ETF were all filed. September 27th, that's right. If you're not familiar with Franklin Templeton, there are one and a half trillion dollar asset manager. They're also applying for an ETF. Now the SEC announced September 26th, it would designate a longer period to decide on these spot ETF applications. And as James Safart shares here, here's VanEx delay as expected. So another one, I mean, exactly what we were expecting from the SEC. Now in August, ARK investment manager, founder and CEO Kathy Wood speculated that should the SEC move forward with the spot ETF approvals, it would allow multiple listings simultaneously to avoid giving any single company an advantage over another in the market. Her remarks came before Grayscale Investments won a court battle with the SEC over its spot Bitcoin ETF app, which will likely be reviewed in which they're trying to turn their GBTC product into a spot ETF. So hopefully it happens. To date, the SEC has never approved the spot crypto ETF in the United States, but has allowed the listing of crypto linked futures ETFs and a leveraged Bitcoin futures ETF. Manipulation, fam. The next deadlines for the spot crypto ETF apps from firms, which include the largest asset manager in the world, BlackRock, Wisdom Tree, Invesco, Galaxy, Valkyrie, Bitwise and Fidelity are all scheduled for October. So we'll see how this is likely to play out considering October is now only three days away. Are we going to get some ETF approvals by then? Who knows? I think more than likely they're going to push it back again. However, Congress right now is pressing Gary Gensler to approve a spot Bitcoin ETF and ETPs immediately. So now let's break this down. If you missed Gensler, he was pressed by Congress just yesterday. And I know it's on everyone's mind. So let's break down some of the highlights from this recent hearing with Congress and the chairman of the SEC, Gary Gensler. Let's break it down, shall we? Here we go. Blame for kneecapping capital markets in the U .S. and slam for dodging questions around Bitcoin and Pokemon cards. SEC chair Gensler appears to have had one hell of a grilling from Congress this week. September 27th, the U .S. SEC chief again found himself in front of lawmakers in a scheduled hearing to discuss his agency's oversight of the markets. Here are some of the highlights. First and foremost, you are the Tonya Harding of security regulations. We should create a Gary Gensler diss track, right? One of the more colorful analogies came from U .S. Representative Andy Barr, who accused Gensler of kneecapping the U .S. capital markets with regulatory red tape. Barr referred to the old testimony from Gensler where Gensler argued that the U .S. is the largest, most sophisticated and innovative capital market in the world and that shouldn't have been taken for granted as even gold medalists must keep training. With all due respect, Mr. Chairman, if the U .S. capital markets are gold medalists, you are the Tonya Harding of securities regulations. Ouch. You are kneecapping the U .S. capital markets with an avalanche of red tape coming out of your commission. Preach. Barr is presumably referring to a scandal where U .S. ice skater Tonya Harding, I'm sure you all remember the story, I was a kid when this happened, and an assailant to attack her rival Nancy Kerrigan in the lead up to the 94 U .S. Figure Skating Championships and Winter Olympics. Kerrigan ended up not competing in the U .S. Championships and here is John Dickens who shared it here. Mr. Barr to Gensler, it's hilarious, you gotta watch these clips for yourself if you haven't seen them. So the next highlight, I wish the Biden administration would say, you are fired. That's right, shout out to Warren Davidson who also ripped into Gensler saying he hoped that the Biden administration would fire him. Powerful words. Davidson accused Gensler of pushing a woke political and social agenda and abusing his role as the SEC chairman. Preach. Massive shout out to the senators here doing their job. Damn good job. The U .S. Representative added that he hopes that the SEC Stabilization Act he introduced with fellow representative Tom Emmer could make it happen. Quoting him here, you're making the case for this bill, which is the SEC Stabilization Act. Every day you're acting as a chairman, he concluded, and Gensler wasn't even given a chance to respond. Now next highlight, Gensler reiterates Bitcoin isn't a security. That's right. When asked by U .S. House Committee Financial Services Chair Patrick McHenry whether Bitcoin is a security, Gensler eventually relented stating the Bitcoin didn't meet the Howie test. Quoting him here, it does not meet the Howie test, which is the law of the land. Then McHenry suggested Bitcoin must be a commodity, which Gensler avoided answering. Mr. No Clarity Gary, hence how he got the nickname, saying the test for that is outside the scope of U .S. security laws. Mr. Gensler, we're living in a clown world with this guy. Henry also suggested that Gensler try to choke off the digital asset ecosystem facts and refuse to be transparent with Congress about the SEC's connections with the FTX and former CEO SBF facts. Gensler also wasn't given the chance to respond to the claims made by McHenry. Next highlight, are Pokemon trading card securities? Gensler says it depends. Can't make this stuff up. Quoting Representative Richie Torres, I cross -examine SEC Chair Gensler about the term investment contract, which is key to determining his authority over crypto. Gensler struggled to answer basic questions like whether an investment contract requires a contract. His evasions are defeating and damning. Suppose I was to purchase Pokemon card. Would you constitute a security for this transaction? Gensler responded, well, I don't know the context before eventually concluding it isn't a security if you purchased it in a store. And then Torres asked if I were to purchase a tokenized Pokemon card on a digital exchange via the blockchain. Is that then a transaction? And then Mr. No Clarity Gary said, I'd have to know more because I don't know anything. Yeah, you can't make this stuff up. Gensler then explained to it when it's investing the public can anticipate profits based upon the efforts of others. Then the core of the Howie test, which it is, Torres called Gensler's evasions as damning to say the least. And the next highlight, a sign of defiance. Meanwhile, amongst the back and forth cross examinations between Gensler and representatives, the eagle eyed observers noticed a Coinbase stand with crypto logo behind the SEC chairman. Isn't that interesting? The Coinbase led initiative is a 14 month long campaign that launched back in August aiming to push crypto legislation in the United States. Coinbase also ran a stand with crypto day, which took place in Washington, D .C. September 27th to advocate for better cryptocurrency innovation and policy. So again, shout out to Warren Davidson, Tom Emmer, all the senators for holding Gary Gensler accountable. Hopefully they do something about it. What's your thoughts, fam? Do you think Gary is likely to listen to them and follow their instructions and approve a Bitcoin ETF immediately? Or do you think he'll continue kicking the can down the road as long as possible until he leaves his position as the chairman of the SEC? Let me know your honest thoughts in the comments right down below. Now let's break down the latest prediction coming from crypto analyst Michael Vanay Pop for some price actions for Bitcoin for the fourth quarter, which we are currently in for 2023. Then we'll break down the latest from the Winklevoss twins and their five hundred thousand dollar Bitcoin price action as the price action of Bitcoin continues to pump, baby. Let's go. Here we go. Let's break this baby down. Crypto trader Michael Vanay Pop is expressing bullish sentiment on Bitcoin in the coming months. Despite the recent struggles in a new video, he says that Bitcoin is on the cusp of reaching levels that offer accumulation opportunities per inch. According to the analyst, the trader Bitcoin could subsequently start an uptrend. Ultimately, Bitcoin is into an area of consolidation here, which makes it very likely we're going to have to retest here at twenty five, six and twenty five eight. If we are having a recess in that region, then there is this zone where I want to start buying my entries because of the recess, which is the ultimate recess. And if we're not going to get that, the flip to twenty six thousand five hundred, that is going to be the area where I think I want to activate my positions as well. And then we can start targeting twenty eight thousand. And then we can also start targeting the higher numbers, thirty thousand dollars plus or even more in the projection of quarter four. That is going to be very positive overall. Let me know if you agree that we'll have an overall positive quarter as we about to enter October. Let's go. Vanay Pop also says Bitcoin's current price action is similar to what was witnessed in the prior pre halving year, quitting him again. As long as we stay above the 200 week exponential moving average, we most likely are going to continue to the upside. And it starts to be very comparable to the period that we witnessed in 2015 and 2016. In this case, we needed it, but we started to consolidate and start to trend up afterwards. It is very likely to this period to slowly but surely the price starts to crawl up. And then we are going to have a case of the upside in the markets overall. And to watch this video analysis, the analyst did check the show notes below the video in the description. It's entitled Bitcoin price. I am looking to buy. So there you have it. And let me know if you agree or disagree with the analysts and are you currently bullish on the King crypto or do you think we're going to dip and test the lower levels? Let me know your honest thoughts, fam. And now let's break down our next story of the day. And the Winklevoss twins on the spot, Bitcoin ETF continuously being basically denied and kicked back and pushed back for the past decade. And then we're going to dive into their half a million dollar Bitcoin price prediction and why they're so confident that the Bitcoin price is going to hit their big target. So here we go. Let's discuss them with the SEC first. This was a story which was, let's see when their tweet was actually, let's scroll down. This is Cameron Winklevoss. This was actually on July 1st, it got 1 .1 million views. Now let me read the tweet. Today marks 10 years since Tyler and I filed for the first spot Bitcoin ETF. That's right. Over a decade ago, the SEC governor's refusal to approve these products for a decade has been a complete and utter disaster for US investors and demonstrates how the SEC is a failed regulator. Here's why. They protected investors from the best performing asset of the last decade. They pushed investors into toxic products like the Grayscale Bitcoin Trust, GBTC, which trades at a massive discount to NAV and charges astronomical fees. They pushed spot Bitcoin activity offshore to unlicensed and unregulated venues. They pushed investors into the arms of FTX, subjecting them to one of the largest financial frauds in modern history. Preach. Maybe the SEC will reflect on its dismal record and instead of overstepping a statutory power and trying to act like a gatekeeper of economic life, it'll focus on fulfilling its mandate of investor protection, fostering fair and orderly markets and facilitating capital formation. This would have led to much better outcomes for US investors. Preach. In the meantime, best of luck to all those fighting the good fight to bring the US spot Bitcoin ETFs to life onwards. So much respect. I mean, 10 years of denying this ETF. I mean, you can't make this stuff up. I think they shared perfectly some of the reasoning. It's to hurt the investors and keep you poor and keep you wrecked and keep you desolate and dependent upon a broken government that threw us overboard so frickin long ago. So much respect to the Winklevoss twins. If you didn't know, they're the owners of the Gemini exchange and they were the very first ever to submit the spot Bitcoin ETF app to the SEC over a decade ago. And obviously they're sick and tired of Gary Gensler, his no clarity and his shenanigans. Just like the rest of us, it's time to fire Gensler. If you think Gensler should be investigated and potentially fired, let me know in the comments right down below and I'll be reading your comments out loud here in a little bit. Now for our breaking story of the day, let's discuss the Winklevoss twins and their case for a $500 ,000 Bitcoin price, which they believe is coming soon. So let's break this down, shall we? And welcome to y 'all just joining us in the live chat. Much love and much respect. So here we go. Winklevoss twins' prediction, Bitcoin will soon hit $500 ,000 per coin. And why? And again, shout out to Tyler and Cameron. Let's get, we already know their background, early Bitcoin investors, OGs, early investors as well with Facebook. Some claim that they're the real creators of Facebook and Zuckerberg stole it. But nonetheless, in a recent interview with the National News, the twins explained they remain convinced of the future of crypto. The main reason is the revolutionary and technical properties as well as the potential of Bitcoin to act as a store of value similar to gold. And in addition, crypto has many other advantages, mainly through programmability. Hence, the Winklevoss brothers believe that Bitcoin could even replace the precious metal. In the long term, Tyler Winklevoss shared the following. If you look at the properties that make gold valuable, Bitcoin matches each attribute or does better. The gold disruption story of Bitcoin is super powerful. We believe in it. Tyler Winklevoss explained his reasoning for the $500 ,000 Bitcoin price action, quitting him here. If you do the math, 21 million in the supply of Bitcoin, the market cap of gold, let's say it's 10 trillion, maybe it's 11 trillion, somewhere in that ballpark, that puts one Bitcoin if it disrupts gold and gets that market cap at $500 ,000 per coin. The two brothers did not want to give specific investment tips. However, Cameron reveals the strategy that they use, which is generally the simplest, which is simply HODL. Hold on for dear life, quitting him here. Generally speaking, if you subscribe to Bitcoin being a store of value type investment, then that strategy is HODL. The same way you would HODL gold is you buy and HODL long term investments. So according to the Winklevoss twins predicting the Bitcoin price will hit $500 ,000, they say predictions are difficult, but they believe that Bitcoin will hit the milestone within a decade. And when they were more recently interviewed and asked, where do you see Bitcoin in five years time? Here's what Cameron Winklevoss responded. We usually take a decade view on it. When we wrote a piece on the value that predicted it being $500 ,000 Bitcoin, we said within the decade. And I believe they wrote that in 2020. So they're basically saying by the year 2030, they're anticipating a $500 ,000 plus Bitcoin price with Bitcoin overtaking that of gold as far as the market cap. Now is that in three years from now or nine years? The timing part is hard, but I think the Bitcoin created $1 trillion worth of value in under a decade. That is fact. I believe back in November of 2021, Bitcoin's market cap surpassed a trillion dollar milestone and the total crypto market cap surpassed $3 trillion. But as of today, we're closer to a $500 billion Bitcoin market cap with the entire crypto market cap down to a trillion. Now, it also spawned many huge productions such as Ethereum and the entire asset class. He continues. If you look at the value increases in Bitcoin, it is this punctuated equilibrium where it is steady, steady, steady, and then boom, it reaches a new price level. This is the new normal. So it can happen very quickly. So there you have it, fam. Ultimately saying when Bitcoin takes off, it explodes quick and vast. And especially considering that two of the most bullish catalysts in Bitcoin history were on the cusp of. Six months away from a Bitcoin halving, we all know the Bitcoin cycles every four years, it drives the Bitcoin price up as it increases the scarcity as well as increase demand, basic stock to flow, numbers must go up. And we also have the approval of a Bitcoin ETF likely to take place in 2024, especially with Congress on Gensler's. But we also have the ETF experts such as Eric Balchunes given a 95 % chance probability that a spot Bitcoin ETF likely get approved in 2024. Those two catalysts will absolutely make Bitcoin rip to new all time highs entering price discovery mode like we have never seen before. So how high do you think the Bitcoin price will likely climb by the time of this next halving? Roughly six months out, scheduled to take place sometime in April of next year. Let me know your thoughts in the comments right down below. 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.
A highlight from SEC GARY GENSLER HEARING & SUBPOENA SOON? COINBASE CRYPTO ADVOCACY WITH NANCY PELOSI!
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a 5 star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, as you all may know, Gary Gensler testified before the House Financial Services Committee today. He got grilled. He got a lot of pressure questions and things that he was shaking and unable to answer. It's the same old nonsense. And I'm sure many of you saw the clips, so I'm not going to play a whole bunch of clips for you, but I'm going to give you the big takeaways. What can we expect next? And McHenry, Patrick out of the gate, started grilling Gary Gensler. He asked him, is Bitcoin a security? And Gary was like stumbling, like he couldn't even answer it. And of course, you know, Patrick McHenry was like, what are you doing, man? I'm giving you softball questions. You can't answer me. Is Bitcoin a security? So Gary Gensler continued his clown show. This guy's a scumbag regulator, as I've been saying for a long time, and needs to be fired. But the big takeaway from what Patrick McHenry said, folks, he threatened Gary Gensler and said, don't make me have to send a subpoena. And he highlighted that Gary has not sent documents about FTX. He highlighted Gary's losses in court and much more. So I think the next step, you know, I haven't seen this level of threat about a subpoena from these folks. So I think we're getting there, folks. And I'm actually going to be interviewing Congressman Warren Davidson, who also did a great job grilling Gary tomorrow. And he's going to I'm going to ask him about the subpoena and what are the next steps. And of course, he highlighted his SEC Stabilization Act, which essentially fires Gary Gensler and replaces that chair seat, adds another commissioner and an executive director. So it makes the SEC less political and more balanced. And he has some great questions to Gary. You know, he even alluded to the EITH Ethereum free pass. Some of you may have seen the clip. So he did a great job. And once again, I'm interviewing him tomorrow. So be sure you're subscribed on the podcast as well as the YouTube channel. And Tom Emmer also brought some heat on Gary Gensler saying, I'm convinced you are not an impartial regulator. And he went on and did a press conference about this. And Gary Gensler is a bureaucrat who does not answer to Congress and much more. So, you know, similar types of comments that we've seen historically. But I think the subpoena threat was the big takeaway for me. The other stuff was, you could argue, was said historically and said before and other hearings with Gary Gensler. Now, Democrat Richie Torres did a great job of talking to Gary and getting specific, like he highlighted, is buying a Pokemon card a security? Gary said no. So he said, well, what if that Pokemon card got tokenized on the blockchain? It's a den of security. And that's where Gary was going back and forth and saying he needs more details and yada, yada. But great questions by Representative Richie Torres, very laser targeted in detail where Gary is just like caught off guard and he's trying to dodge the questions. So Gary continues to get exposed. And I like what happened today. I think the clips and all the news that are coming out of it, while they may not be very much actionable, where Gary is getting kicked out tomorrow, right? They do paint Gary Gensler in a very bad light. And remember, I've said many times, a lot of politics is simply optics. And if you have bipartisan support against Gary Gensler, that's not good. He's not going to be in that seat for very long. So it's great to see Democrats coming out against Gary Gensler. Now, quick word from our sponsor folks, and that is Uphold, which makes crypto investing easy. I've been a user of Uphold since twenty eighteen. They have ten plus million users, two hundred and fifty plus crypto currencies, and they're available in one hundred and fifty countries. You can also trade precious metals and equities on Uphold. If you'd like to learn more, please visit the link in the description. Also, a great comment from Representative Andy Barr to Gary Gensler on capital markets. He said, if the U .S. capital markets are a gold medalist, you are the Tonya Harding of securities regulation because you are kneecapping the United States capital markets with the avalanche of red tape coming out of your commission. Wow. That is a pretty strong remark there. Many of you know about the Tonya Harding story. If you don't look it up, Nancy Kerrigan and Tonya Harden and someone who was sitting behind Gary Gensler started flashing the Coinbase stand with crypto NFT shield. Many of you have seen that. And someone also highlighted the stand with crypto logo on a piece of paper. So this is similar to what happened with the guy who did the buy Bitcoin behind Janet Yellen years ago. So they put this right behind Gary. So it's pretty funny. This is another one that's going to go in the record books. And on that note, the SEC did acknowledge that the 1 .5 trillion dollar asset manager, Franklin Templeton, spot Bitcoin ETF application. Now, that doesn't mean anything because we need an approval. But things are moving ahead for these new applicants. Now, as all this was happening, guess who was in D .C.? Brian Armstrong and the Coinbase folks. Pretty incredible. And they did this whole campaign where they're at the Hill and a Brian Armstrong tweet out here at our nation's capital for a stand with crypto day with 40 founders from across the country. It's time for America to join the rest of the G20 and get some clear rules on the books. So great move here by Coinbase because the juxtaposition of what Gary is saying and what a big publicly traded crypto company is doing with a whole bunch of founders in D .C., educating and providing advocacy is really, really great. So I love this. And you hear you see Brian posted some photos, he said a great meeting with Speaker Pelosi. Now, all feelings about Nancy Pelosi aside, this she's a Democrat, folks, and I think this is a very smart move, Brian. Very, very smart move, because today even Maxine Waters was praising Gary Gensler. Oh, he's the knight in shining armor. And Gary, you know, you've been doing your thing, protecting Americans from these crypto scammers. Right. So remember, just like two years ago, she was hugging up FTX saying she loves Sam Beckman Fried, blowing kisses, taking campaign donations from FTX. So she's can be bought and sold right pretty easily. And I really like this. Coinbase is playing chess here while Gary Gensler is getting grilled. I love it, love it, love it. And they took a whole bunch of photos here at the Capitol Hill. So smart move by Brian. Really, really smart move. Now, finally, Kraken sets sight on stock trading. So Kraken, the crypto exchange, they're looking to expand their services. And, you know, this makes sense. If you're ordering already an exchange where you sell crypto, you can easily move to stocks. And then I know some other folks have been looking to tokenize stocks and sell those. So this is a pretty big move. And we're going to see that these crypto exchanges are going to expand to other markets. And with the advent of tokenization, you know, they're going to tokenize a lot of the traditional financial markets and assets and commodities and much more. And allow people to easily get access to them globally, 24 seven trading and much more. So obviously this would put them up against like Robinhood, essentially right where you have stocks and you've got crypto in the mix. So I think it absolutely makes sense. Well, folks, that's the news. Let me know what you think. What did you think about Gary today in the hearing? And once again, I'll be interviewing Congressman Warren Davidson tomorrow. So be sure to check out that interview once it's published on Friday. And I'll talk to you all later.
A highlight from Leading Edge Defi Leverage Trading! (Apex Review)
"DeFi leverage trading is the hottest thing in crypto right now, and Apex is the top tier platform to use. I'm going to tell you why. It's time to discover crypto. Apex Pro, which is currently ranked fourth in 24 -hour trading volume on CoinGecko's list of DEXs, is a multi -chain, permissionless, non -custodial, decentralized derivatives exchange, also known as a DEX. That's a lot of words, so let's break it down. Multi -chain means that Apex supports multiple blockchains, and so far, you can trade using ETH, BNB Chain, Polygon, Arbitrum, Avalanche, C -Chain or Optimism. And permissionless basically means this platform is open to anyone. No one is going to come along saying you can't trade due to where you're located or force you to complete KYC, otherwise known as that thing we all love to hate. Know your customer. It's not chicken. Giving all our personal information over to giant companies makes a lot of us feel less secure. Plus, one of the biggest benefits of crypto is privacy, so I'm always a fan of platforms that don't require KYC. If you feel the same, make sure to slam that like button and subscribe if you haven't already. You can also click the link in the description to sign up for Apex. The other great thing about Apex is that because it's non -custodial, you are in charge of your crypto. We've seen with so many exchanges plummeting during the bear market that the old adage, not your keys, not your crypto, really stands true. And finally, Apex is decentralized, meaning it isn't owned by one particular company or individual. Apex is backed by a plethora of distinguished global investors from Dragonfly Capital to Kronos to Cyber, so a lot of people in the know are excited about this exchange. Apex uses Starkware's ETH Mainnet Layer 2 scalability engine StarkX. And because most of the transactions take place on -chain, the fees on this platform tend to be much lower. It offers instant settlement, and the speeds are top notch, supporting 10 trades per second. Apex is a derivatives exchange, so let's go into what that means briefly. Derivatives are contracts between a trader and an exchange where the trader speculates on price movement without actually having to own the crypto. This is where you hear terms like short and long. A short means you expect the price of the asset to go down, and a long means the opposite. You think it will go up. And what makes this kind of trading extra attractive to traders is the possibility to trade with leverage, aka borrowing funds from the exchange so you hopefully make a bigger profit. So, say you have $100 to trade and decide to use 5X leverage. This means you would borrow $400 from the exchange and trade with 500 bucks. Your gains would be five times more than they would have been without the leverage, but any potential losses will also be five times greater. Apex offers up to 30X leverage on Bitcoin and ETH and 15X on all other assets, but I highly recommend using much lower leverage, especially if you're new. You need to be careful when doing this kind of trading because it is really easy to get liquidated if you don't know what you're doing, so have a stop loss. Remember, don't invest more than you're willing to lose. Okay, so let's get started. First, make sure you go to the correct website. You can click on our affiliate link below, so be extra cautious. Then you'll see the Bitcoin chart. At the top, you'll see the dashboard that gives you an overview, your profile, any orders, transfers, fundings, and even a community section where you can follow Apex on socials. You can also check out the leaderboard where Apex has the top traders listed, as well as ones you follow. And again, the link's in the description. Make sure to check out the Apex rewards section when you can earn for trading. And there's also a referral section where you can earn for inviting new people. And the best part is your friends will get a special offer too, which is another reason why you should click on our affiliate link in the description. You can also earn by holding Apex's native tokens, Apex and BANA. Apex grants governance rights and protocol incentivization, and right now you can earn over 15 % APY from staking it. BANA, on the other hand, is a trade to earn reward token that gives you exclusive perks. All right, now back to the charts. All right, so right here, you can see the pairs you can select. You can also take a look at the depth, funding rate, details, and risk limit. Then down below, you got positions, closed order P &L, profit and loss, active orders, conditional orders, which are waiting for the conditions to be right for the trade to close, filled orders, and the total order history. Currently, it's blank because we haven't connected our wallets yet. So head on over past the order book where you can see the current longs and shorts, as well as the oracle price of the asset, which is pulled from a bunch of external nodes. Then you can choose the blockchain you want to use and press connect your wallet. Click next, click connect, agree with the terms and conditions, then send the request to verify ownership and enable trading. Finally, you press sign and you're all done. If you don't want to connect a self -custodial wallet for some reason, you can also connect your Bybit wallet to Apex, but we aren't going to go through that in this video. Throughout the connection process, Apex may prompt you to make a username and provide your email, but you don't have to. Remember, privacy is one of their top priorities, but if you want notifications about your trades, go ahead. Then you'll see where you can place an order. You'll need to deposit funds, and for your information, you can only trade with USDC, so make sure you have some of that in your wallet. Now, Apex will allow you to open a limit, market, or conditional markets trade. A limit order basically waits for the price to come to you, and a conditional order means your trade executes when certain conditions are met. So if you think Bitcoin will plummet if it hits a certain price, you can place a conditional short. However, most people place market orders, which mean the trade will immediately execute at the current market price. That's what I use. I highly recommend taking profit and setting up a stop loss, so if you start losing money, you can stop the bleeding, and you can close your trade with either a limit or market close. Well, that's all I got for you today. Are you a fan of leverage trading? Have you tried Apex for yourself? Let us know in the comment section below. That's all from Deezy. Thanks for watching Discover Crypto. Hit that like button on your way out, and we'll see you at the top.
A highlight from Bitcoin Bull Market Will Start When (THIS) Happens!
"Good morning, everybody. It's time to discover crypto. It's Tuesday, September 26. It's 11 .31am. Probably just a minute late, guys. You know what? I had to button up the top. I wanted to try a little bit professional. Actually, I'll tell you what the real deal is. I was going to wear a button -up, and I didn't have any zip -up jackets. And I said, why not just wear a jacket? Quit being a DJ and dress like a man for once. So I'm wearing the jacket today. We got Drew and Tim on the ones and twos. And then there's me in my normal hoodie. Ain't nothing wrong with the Federman gear. I rock the Federman gear, too. True. Yeah. Yeah, there's nothing wrong with it, guys. We're going to talk about why we think Bitcoin bull run is going to start, when it's going to start. Kelly's going to break that down. Also, we got some big, big news. The government shutdown. We're going to break down exactly what happens if the government shuts down. What gets turned off? What doesn't get turned off? Guys, this is less than a week ago. We don't think it's going to happen, but it's good to be prepared just in case. Also, we're going to talk about NASA. Do you know the NASA story? What is the NASA story? They're going to hire blockchain and then pair them with Hollywood to create the second landing on the moon coming your way very, very soon. All right. All right. Stanley Kubrick, you know, rising up like Skeletor. All right. That ought to be a good one. Also, we're going to talk some XRP news, some Microsoft stuff with Xbox and crypto. That could be potentially gigantic and also just some world global stuff. It's going to be interesting. All right. Let's, guys, make sure you are subbed to the channel if you're not already. Hey, maybe even hit that like button on that one video. If you want to check out our other channels, please do. We're always putting out great, great content. Frankie around the blockchain, BitLab Academy, The Basement, NFT alpha, last but not least. All right. Let's look at the crypto market cap here. What is going on with the crypto prices? We're going to go ahead and refresh. I want that freshest Chainlink oracle data. Looks like we're up 0 .3%. So we're up a third of a percent. The market cap is coming in above 1 trillion. We're 1 .08 trillion for the market cap. 24 -hour volume is slightly muted at $28 billion. Bitcoin dominance coming in at 47 .1. Gas is low again. Isn't as low as 11, what we saw, I believe, on Friday, but down to 23 gwei. Pretty low right there. So if you want to get in and out of some alts, now is potentially a good time. Bitcoin is down right in line with the market. The market's down 0 .3%. Bitcoin is down 0 .3%. Ethereum down 0 .1%, down 0 .2 % just for the past hour. However, BNB moving up however slightly. Also, XRP. XRP community in the chat hit that like button. You were up 0 .6%. It's time to celebrate. Also, we have, hey, Cardano's flat when Bitcoin's down. I'm just going to take that as a victory. I'm going to go ahead pat myself on the back for that one. But we are below 25 cents. Cardano coming in at 24 .4. What is up with Cardano at this 25 -cent level? Tim, you're Mr. TA. It loves being right out of quarter. Yeah, well, and before it loved being at 30 cents and then... Hey, don't remind me. And before that, it loved being at I think 50. Before that, it loved being at a dollar. I love Cardano. It's my largest altcoin bag still, and I'm not giving up that conviction of it. Now, it's setting lower highs and lower lows. What do we call that? A bear trend. I'm going to continue to hold to the call that I've made now for over a month. I believe, oh, actually, it's been like two months now. I think we're going to be seeing an 18 -cent Cardano. I called that back even as we were pumping up to 38 cents here not too long ago. I still believed that 18 cents was coming in. And if you're looking at this bear trend, lower highs, lower lows, I think it's going to happen. All right. Speaking of lower lows, a lot of people talking about the truck and how they want to back up the truck and then just buy a lot of these cheap alts. That's what I would do. That's the positive side of this. I wouldn't do weird things with it. People hear bearish price predictions or bearish prices being talked about. And their first thought is to be like, oh, no, that's not going to happen. I can't lose the money. I was like, well, you don't lose unless you sell. And also, if it goes that far, you had an amazing opportunity to buy again. So stay positive. It's a great idea. It's it. I'm rooting for Cardano to get 18 cents and Bitcoin down to 19, 900, 700. You stop that blasphemy. That's yeah. Well, we got right the blockchain. 24 cents is the floor, guys. Just be careful because it is until it isn't. And then it will be, you know, we got that little spike off 21 cents. So I expect a little bit of pressure. And then the psychological level of 20 cents if we fall below this. But I believe we would need to see Bitcoin at 2322 for that to happen. Alright, in the rest of the alt realm here, we have Dogecoin down 1%, Solana down almost 2%. Tron moving on up. Good job, Justin Sun. We have Polkadot down 1 .4%. So nothing really is moving too hard. Even Chainlink's barely moving here. Wait a minute. Did we see some in the 3 %? Law enforcement officer? No, no, no. Why is Leo token down? Hey, you know what we're talking about here. Let's talk about the big gainers though, folks. Looks like Maker is leading the way. It's not much of a pump, folks. 4 .3%. We have FRAC shares up 3 .2%. And then after that, very, very muted. It is right at 1 % for Optimism, Avalanche, and then BNB. So we're really not seeing anything jump too much here. Do you have any of these coins in the top? You have any FRACs? What is up with FRACs? Always moving. Crazy. Avalanche is the first one on that list that I have. I don't have any BNB. I have some XRP, obviously.
A highlight from Top 3 Crypto Sectors for MASSIVE Profits In 2024! (Accumulate Now)
"There are three crypto sectors which I believe are going to be the pillars of next cycle and thus I am positioning my portfolio concentrated around these three sectors. In front of you on the screen right now, you can see the historical snapshot of the market during the peak of the 2017 bull run. Take a look around, look at the top 50. How many coins here didn't end up featuring in the 2021 bull run? You've got Lisk, you've got Omizgo, you've got Stratus, BitShares, Ardor, Hyper Cash, Bytecoin etc. All these ancient relics ended up fading into oblivion come the 2021 cycle where we saw coins like Polkadot, coins like Terra, Avalanche, Solana all outperform and exhibit massive gains versus their old counterparts. So if you go into this next cycle investing in the old relics of last cycle and not addressing the current problems we have in crypto right now, I think you are in for a rude awakening come the next bull run. So instead, why not focus on the biggest problems of next cycle? Be preemptive here and start anticipating what some of the biggest upcoming trends are going to be. Then you can reverse engineer that process and start building the foundational blocks of your portfolio now setting yourself up for success in next cycle. So today I want to talk about three major verticals that I am eyeing in crypto and I'm three of the biggest sectors next cycle. I'm also going to give you coin picks from each of these sectors and give you my strategy with each individual category. Without further ado, let's get straight into the video. Now the first major sector in crypto that I think is undeniable as the driving force behind crypto's price performance and also the lifeblood of a lot of the market is simply speculation. I mean just think about it, humans are innately gamblers. The entire premise of stock market's growth over the last century has essentially been people speculating on asset prices going up in the future. Crypto is the biggest and most accessible casino in the world so when it comes to human speculation it is definitely well positioned for significant upside. Now as long as humans exist I believe that their desire to speculate will exist because humans are innately gamblers and for that reason I'm bullish on human greed. So when it comes to crypto how can you position yourself on the premise that humans will want to speculate next cycle? Well in my opinion there are really two growth verticals here when it comes to human speculation. Yes it is the most basic of the three narratives of today's video but it is also the most obvious one. Crypto's use case whether we like it or not is gambling and is speculation and for that reason you can divide this up into a gambling platforms that facilitate people's ability to speculate and two platforms like DEXs that allow people to speculate on the market specifically. So when it comes to gambling platforms I think it's undeniable like rollbit for example has been a major prominent pillar of this sector given the fact that it's been able to do over 25 million dollars of 30 -day casino revenue and as a result has burnt 5 .3 million dollars worth of rollbit tokens. This is an example of a protocol that is really primed to capture that human greed factor considering it offers a casino product, a crypto futures product and a sports revenue product. I haven't seen many other great gambling platforms in crypto launch so for today's video I think rollbit is the obvious selection here but as they start to launch and as some better products start to come out in this niche definitely gambling platforms is something I have on my horizon because as I said I'm bullish on human greed. Now if you look at rollbit's fees you can also see that comparatively it stacks up pretty well to the rest of the market with it actually generating more in the past 30 days than the blockchain Tron, the biggest DEX on Ethereum Uniswap, the Bitcoin network, it's only behind ETH and Lido in terms of revenue generation so that's a super interesting vertical. Now the other vertical in terms of capturing speculation next cycle is of course the DEXs because if you view crypto as the ultimate casino then in this world the exchanges by default become the house. Now when retail comes back volume returns, volatility returns and more importantly risk appetite returns which in my opinion it inevitably will then the DEXs and the centralized exchanges are going to be the biggest beneficiaries but due to the recent regulations surrounding centralized exchanges and due to the transformative shift we have seen over the last few months from centralized exchange trading to DEX trading I think DEXs considering this environment are going to be some of the major beneficiaries when it comes to capturing revenue from what we call the crypto casino. So I am looking to position myself in the top DEXs in the market, the top -notch products which have a clean and intuitive UI because I believe that stickiness comes from a great user experience, a diverse range of trading pairs and prompt listings of the new hottest crypto coins and products, competitive fees and strong referral programs because we know exchanges like Bybit were built around really strong referral programs and a DEX is going to need to capture that in order to fully harness its growth potential. So at the end of the day it comes down to user experience when we can get a centralized exchange like experience on a DEX then I think there is really an incentive considering crypto regulation for people to actually use these DEXs. Now what are some of the products I'm looking at? GMX clearly has been one of the leaders in this sector, it's also heavily discounted in price since its highs, this is definitely one that I've got on my list. Gains network as well is another one that I've got on my list considering the fact that it supports 64 trading pairs, they've also got forex and commodities so it's not just crypto that you can speculate on on the blockchain and there's also a bunch of other features that they offer. They give up to 150x leverage, I mean that by definition appeals to the degens, they give 250x leverage on commodities and 1000x on forex in some cases, they also support collateral deposits up to 250k and DAI is also a stablecoin supported as collateral. They also have a few interesting features like lookbacks for better execution, one click trading for a better trading experience. So in terms of current trading products that are on the market right now in the DEX form, I think G -Trade and more broadly the Gains network team are doing a really good job at pioneering this space. Now of course Gains is a partner of the show, if you do want to trade on G -Trade there is a link in the description. If you haven't yet, I think you are missing out because it's an amazing trading experience and for those that are looking for a new trading home, I think this is one of the best products on the market right now. Another DEX that I'm looking at is DYDX. These guys are going for a really novel and pretty ambitious approach to solving the DEX problem with their own chain. They did decide to leave Ethereum and launch their own chain on Cosmos, that's super bold. If it fails, it could fail spectacularly but if it pays off, it could really pay off spectacularly due to the additional composability that deploying on Cosmos gives you over deploying an EVM application. So this could be a massive success, we don't know yet but if it is, it's definitely something that I'm interested in getting exposure to. Just keep in mind that there is a big token unlock coming. I am expecting DYDX to issue some sort of big announcement to try and offset some of the sell pressure but just keep in mind that there is a bunch of sell pressure coming and you're probably going to want to DCA slowly into this one as not to take on any unnecessary risk during a bear market. Now I've got one more option for you if you're interested in this whole speculation DEX narrative and that's say network. So you don't just have to bet on the specific DEXs, you can bet on the infrastructure, the platforms that are facilitating speculation and say by default is a layer one blockchain that is specifically being built for traders because they're offering fast finality which is very important when it comes to executing trading, a twin turbo consensus mechanism which is very important for the overall performance of the network, they have a native matching engine that allows exchange teams to leverage that to build their own exchange products and also they have front running protection built into the layer one blockchain. So pretty much what you need to know is say is a blockchain built specifically for trading applications and if you want exposure to this narrative this is definitely an interesting one. Price wise it's essentially been down only since its launch but this is one that I'm looking at accumulating maybe let's say over the next six months to a year slowly accumulating to position myself in this narrative I think say is a super interesting unique bet. Okay now let's get into sector number two and that is real world assets. DeFi has a big problem right now, the interest rates across the world have increased significantly since 2021 so there's less of an incentive to stake money in DeFi yield farms. I mean back in 2021 when interest rates were essentially zero people were desperate and they were starved for yield so they were parking capital in DeFi where you could get 10 to 20 percent of your stable coins, 20 to 30 percent on your ethereum. It was amazing right? Well those days are over and now for DeFi to succeed and become sustainable it's going to need avenues to attract capital into the ecosystem and I think the number one vertical for this is real world assets so that's essentially tokenizing assets like real estate gold collectibles cars and intangible assets like equities bonds carbon credits and trade finance and bringing it on chain in the form of a token and enabling users on chain to deposit into vaults to earn yield on real life assets so if that is a property it can be divisible into a bunch of tokens offered on chain so you can essentially invest into a property instead of going through the rigmarole of investing it in real life with big barriers to entry you can take a lesser barrier to entry and divide it up into a bunch of fractions to allow people to invest and earn yield on that property on chain but bonds are another example instead of having to go through a traditional trading house and centralized entities which take huge transaction and management fees you can go straight peer -to -peer on a DeFi or crypto product which allows you to invest in things like bonds and treasury bonds so it's super interesting the real world asset space and as you can see the boston consulting group expects this space to 26x from 0 .6 trillion dollars to 16 trillion dollars by the year 2030 with their high case so their bullish case being 68 trillion dollars which is 113 x from the current market cap of real world assets so this could potentially be a whole lot of money coming into the crypto ecosystem so clearly real world assets are a massive growth vertical and this is one that i'm interested in positioning myself towards because if we do see a massive influx of tokenized assets coming on chain this could be a huge attraction for new tbl to come into the crypto market now in terms of positioning myself for real world assets there's a few ways you can do it the first way is essentially betting on individual real world asset protocols and this is probably your most direct way but it's also the riskier because even if real world assets succeed if a specific protocol fails then your investment could still go to zero the safer way but the less upside way would simply to be to invest in the blockchains the l1s the l2s that you believe in and you think are going to be home to the tokenization of assets because at the end of the day these blockchains make sequencer fees and revenue which in some cases are paid back to holders so the overall value of the chain increases however as you guys know you're not getting as much upside of course so you've kind of got to decide whether you want to go for a protocol based approach or an infrastructure based approach i like to do a little bit of both because then i can capture some of the massive upside but i can also have some safer bets to hedge against some of the protocol specific bets in terms of protocol specific players my favorite ones fracks i've talked about this a lot in the past but they're doing a lot with their v3 they've got fracks lend they're not just a real world asset protocol they've got exposure to other niches as well to hedge as well so i do like fracks as a play this is my personal favorite one in the sector make it also interesting i don't own any and i'm not planning on buying any anytime soon but this has definitely been the the leader of this narrative considering that they've been able to accrue over 600 million dollars worth of vault value thanks to their importation of treasury yields on chain so this has been a really successful one but i'm also seeing many different real estate products collectibles marketplaces and super interesting products starting to launch in the real world asset space so this is definitely one where you want to keep some capital aside and look to position yourself in this one uh over the next few months this is definitely one of the biggest growth verticals next cycle especially if we can get anywhere close to that 68 trillion dollar figure that bcg did suggest as a potential growth target by the year 2030.
A highlight from Episode 122 - Sweat Economy - Building The Economy of Movement with Web3
"Whole industries are born when you can break a trade -off that is considered standard. In our world, the trade -off is if you want to be healthy, if you want to be active, you got to pay. You got to buy a kit, you got to get your membership, you got to do all of these things. How can you be physically active if you're not paying? Actually, because it's beneficial to you and to a lot of people, we believe that you should be paid for it because it is incredibly valuable. Welcome to the Crypto Altruism podcast, the podcast dedicated to elevating the stories of those using Web3 for good. I'm your host Drew Simon from CryptoAltruism .org. Now, before we get started, a quick disclaimer. While we may discuss specific Web3 projects or cryptocurrencies on this podcast, please do not take any of this as investment advice, and please make sure to do your own research on investment opportunities or any opportunity, including its legality. And now, let's get on to the show. Welcome and thanks so much for joining. Whole industries are born when you can break a trade -off that's considered standard. I think that bears repeating and I can't think of a better example of this than Move to Earn. For too long, exercise has seemed like more of a chore for many and a very expensive chore at that, with the pricey gym memberships, expensive equipment, you name it. With the advent of blockchain, however, there is a unique opportunity to disrupt this and transform exercise from a chore into a rewarding and income -generating activity. To dive into this, I'm excited to welcome Oleg Fomenko, co -founder of Sweat Economy, an OG in the Move to Earn space with a mission to reward movement to inspire a healthier and wealthier planet. We discuss how Web3 tools can incentivize healthy actions, the evolution of Move to Earn, onboarding hundreds of millions of users to Web3, and much more. So without further ado, please join me in welcoming Oleg to the Crypto Altruism podcast. Okay, Oleg, thank you so much for being here today on the Crypto Altruism podcast. Such a pleasure to have you. Thank you very much, Drew, for having me. Very nice to meet you, Drew. Thank you very much for having me. So excited to have you. I had mentioned this before we got on the call that I've been following it for quite a while, and I'm really fascinated by this whole Move to Earn movement that's going on and how Web3 tools can really change how we get people to be excited about wellness and making healthy life choices. So before we get there, I want to learn about your aha moment that got you excited about Crypto and Web3 in the beginning. I learned about Bitcoin in 2011 from a childhood friend who described what it was, and that definitely perked my interest. Stupid as I was, well, stupid as I am, I got really, really hooked on technology. And I read an awful lot about how it works, the white paper, the Byzantine generals problem, and just basically as much background as I could. In 2011, there wasn't an awful lot. Then I have installed BT Guild. That was the first sort of pool mining software on my old laptop and put it in the corner, and it was sort of chugging along there for about a month, and they mined a few satoshis. Well, actually quite a few satoshis, but because the price was like 20 cents, it wasn't even covering the electricity that I burned on it. And I just threw away a laptop's hard drive for quite a bit right now these days. So I got hooked on tech, and despite the low prices, I actually didn't buy an awful lot of Bitcoin back then. And I had a very interesting sort of music streaming startup back then, and I was trying to figure out how we can do something in crypto, but at best we could just accept Bitcoin payment, which was cumbersome, slow and not terribly interesting, and just handful of people even knew what it was. So opportunity represented itself in 2014 when I started talking to my co -founders about the problem of why are people not as active as they want to be? How come that I used to run some crazy distances and climbing some of the highest mountains in the world, and all of a sudden I couldn't even complete 5k. And, you know, kind of one conversation after another, we very quickly realized that the reason why 100 % of people want to be more active, but they can't, is because nature didn't build us to be active. Nature built us to survive, which means preserving calories rather than spending them. And nature was so serious about it that it gave us this behavioral feature that helped us surviving back then, but right now it's probably a behavioral bug that prevents us from being able to burn those calories called present bias that stops us from, you know, kind of moving and forces us to sit, unless there is a mammoth on the horizon that, you know, that we need to run and kill, or there is something about to make us into food and then we need to run away. And we realized that there is only one solution to present bias, instant gratification. So we kind of went, ooh, so can we actually create instant gratification for every step you take? And that's the story of Sweatcoin. As the name would suggest, we were thinking about building it on blockchain back then, but forking Bitcoin was slow, cumbersome and expensive. Building on Ethereum, we discussed with Vitalik in 2015. We met with him in London. That wasn't really an option because it was just too early. It was a research grade code back then. And we launched in 2016 centralized. And we thought, you know what, give us six months, maybe 12 months, there will be some wonderful blockchain that, you know, we're going to migrate onto. Little did we know that it would take until 2021 for blockchain to get fast enough and robust enough to be able to hold our scale. So, you know, we looked every year and we analyzed everything that was sort of popping up. And until 2021, the answer was consistently, no, we were processing more transactions per second than theoretical throughput of any chain. And in 2021, all of a sudden there was this explosion, there was Algorand, Solana, Polygon, Avalanche, BNB, well, BC back then, and Flow and Celo and, you know, kind of all of a sudden it just sort of, there was a rush of these new technologies. And we got really excited and put a team on this and analyzed more than a dozen different chains. And sort on of after spending, I think, four or five months, we made a decision that we want to build on near. And yeah, the rest is history. We launched last September and it's going incredibly well, incredibly well. I'm sure that we're going to have an opportunity to talk about some of the numbers and metrics and, you know, sort of, yeah, totally. Definitely. I mean, you've had quite many, many, many achievements and it's really grown at an incredible pace and the amount of people that you have engaging with this platform now every day. And, you know, it's good that you really took that time to kind of like, you know, think and make sure that you had the right blockchain, the right timing. And it sounds like you made a good choice there with Near. And sustainable business model as well and token economics. Yeah, for sure, for sure, which is great. And so you talked a little bit at a higher level about sweat economy, but do you mind giving an overview to our listeners of, you know, what it is, what the mission is of your organization? Sure. The mission of the regional sweat coin and that's what economy is to make the world more physically active. And, you know, it seems like it's sort of a tree -hogging mission. And the reality is it couldn't be further away from truth because we actually realized that physical activity has tangible financial value. When I say that your physical duty has value, everyone nods, like you just did right now. But if I ask how valuable it is, people kind of go, could you reframe the question? Could you use different words? I'm like, no, I don't have to. Typically, if something is valuable, it has value attached to it. And here we have something valuable, but we cannot attach any number to it. Maybe there is an opportunity there. And then we started thinking there is an interesting economy that draws parallel with physical activity. It's attention economy by some estimates attention economy now is about $7 trillion business, all the Googles, Facebooks, everything advertising related sits in there and actually quite a lot more. And the interesting parallel between physical activity and attention is that like attention, physical activity is valuable to you. You know, when you pay attention, something starts, you know, you can engage with something, you can get new idea, you can meet somebody, you can, you know, potentially entering some sort of a conversation transaction and purchase something. Very similarly, physical activity is a better physical state, it puts you into a better mental state, it extends your life. And like attention, physical activity is beneficial for a lot of other parties, a lot of other participants on the market, starting from your family that is, of course, would prefer to have you physically active rather than not because they want to enjoy your company for longer, they want you to be in a better mood. Your healthcare provider, your insurer, your employer are all interested in you being physically active and actually prepared to pay for it. Especially insurers, they know very well that your health insurance and your life insurance, if you're physically active, should be a lot cheaper because you're a lot better risk and you genuinely a lot better business for them. Now, attention economy exists and it's $7 trillion, movement economy or physical activity economy doesn't. There is absolutely nothing there. We can talk about it, we can discuss these use cases, but it doesn't exist. And then we thought, hang on a second, in order for humanity not to spend 200 years building this economy, why don't we actually think of creating a token that is tokenizing your physical activity and makes it into a liquid asset that you can exchange with other parties? That's how the concept of Sweatcoin and now Sweat was born. So coming back to your original question, Sweatcoin is our health and fitness app. Despite the name, it's actually not crypto because for eight years we couldn't operate in crypto. We got 240 million users using this application. And when we could move to Web3, to blockchain, it was too late to tell everybody, like, look, from tomorrow, it's going to be completely different game. tokenomics is going to be different. You can't do that. So we had to put out a new token that's called Sweat and it is a crypto token built on NIR. And effectively the way the two businesses work together is you choose, you either play Web3 game and you just create your crypto account and then your steps are converted into Sweat. Or as a lot of people, you know, kind of choose to, they don't opt in and then they get Sweatcoins, which is a centralized points, think of it like air miles that you can gather and you can use inside Sweatcoin, but they cannot be traded on exchanges. They are not real crypto and not as liquid as Sweat, the token. And of course, these two tokens have very, very different token economics. Sweatcoin, for every 1000 steps, you earn one Sweatcoin and Sweat is constantly demanding an increase in number of steps in order to meet next Sweat. This way, supply dynamics are a lot healthier and we have become deflationary already from the month of July. So July and August circulating supply has been slowly shrinking. Wow. Interesting. So much going on there and like incredible. First of all, with the amount of folks that you've been able to onboard the love, the idea of like offering, you know, Web3 and Web2 version, because it might just be those people that maybe aren't quite ready yet, but want to experiment a bit, want to learn about the technology first, then it gives them an easy kind of entry, you know, accessible entryway, which is great. And so you talked about the Sweat token, which is the built on the near blockchain. And that's kind of the for the Web3 version, the currency that kind of behind this whole movement economy. So you talked about that users will get this, they'll earn this from from walking, engaging in that physical activity. What can they do with these with these tokens once they actually receive them? What's the like utility of them? Yeah, no, there is there is plenty. But actually, if we take a step back, because I think in the crypto world, a lot of people are sort of obsessed with the word utility. I actually think that the more important question is, if you ask somebody, why is this token valuable? Yeah, what is the answer to that question? And I have answered to both of these questions. But I would like to start with the one that I think is more relevant in long term, why is Sweat valuable? And the reason why Sweat is valuable is because it is produced by your verified physical activity. So when you move, and if you try to cheat, it doesn't work. In fact, if somebody is trying repeatedly to kind of break into the system and you know, sort of game it, then we just disable accounts and they can never return. But if you put in genuine physical activity, so you sweat it, then we verify it. And we issue with this token that is tokenized physical activity of yours. And because of that, there is no single question in people's mind that it is valuable. It's a very, very different relationship to a string of numbers that sort of miraculously appeared out of, I don't know, nothing, airdrop, I don't know, whatever activity. And then people, majority of people, not crypto natives, but crypto curious are wondering, why does it have any value at all? Why is it not zero? And that is an extremely difficult question to answer. Now we don't have this problem. However, crypto educated or crypto informed you are, that's my physical activity. That's my sweat. That's not zero because, you know, it cannot be, you know, can I sweat it over it? Right. And this is an answer to the longterm question. So in five years, 10 years, 15 years, 20 years time, when people are going to be talking about why is sweat valuable, they're going to say, are you kidding me? It's a tokenized physical activity. How can it be zero? However, it doesn't stop there. You know, in order for us to build movement economy, in order for us to feel sweat with this meaning that it is tokenized physical activity, in order for us to establish financial, you know, kind of number or just a value to it, we need to play a game in the interim that is effectively creating utility and demand drivers for sweat. For a lot of projects, that's all they do. We do have a longterm vision that I've just described to you. The short term vision is extremely simple. You need sweat in order to participate in our kind of network in our platform, you stake sweat, and you earn interest by taking sweat, you also have access to a lot of rewards that are linked to health and fitness, well being fashion, etc. So this is an extremely engaging thing for our users, you are also earning sweat from our learn and earn. And because 90 % of our users are brand new to crypto and web3, they are seeking and are very interested in information. So what is taking? How does it work? You know, how do you transfer? How do you receive crypto? So we are building this whole ecosystem of effectively onboarding products and information, how do you become a proper crypto native? Last but not least, are a lot of functionalities that are being rolled out right now as we're ramping up for our US launch. The most exciting one is Sweat Hero. It's a free NFT game that effectively, if you engage, come in, we give you an NFT of legs. Because, you know, we're about walking and running. Yeah. And, you know, you get the NFT and you can play with other people, literally walking, I'm not going to go into mechanics, if you're interested, you can sort of go and look at it yourself in Sweat Wallet app. Or if you are in the US and you can't still use all the functionality, then you can just go on YouTube and put Sweat Hero and there are plenty of screenshots and screencasts from users that have been participating in beta testing. So you basically go into battle and the game and I battle you and I put 10 Sweat, you put 10 Sweat, the winner takes 80 % and the 20 % goes into what we call a battle fee, which is effectively a token sync that community votes on later on. And that brings me to your one of the first and earlier questions, you know, about move to earn and sustainability of the business, because we're frequently asked, you know, how are you different from, you know, kind of other projects out there? And we say, well, tens of millions of users is one thing, nine years of history and therefore ability to spend time thinking about building sustainable business and sustainable token economics. And what we are doing right now by scaling and not going into that spiral is evidence that we know how to build sustainable businesses that really function. More than that, as I already mentioned, in July and in August this year, Sweat has already become deflationary. So the sources of demand on a monthly basis are higher than emissions of token by you walking, plus all unlocks, users, team investors, and everything. So the number of tokens that hit the market is lower than the number of tokens that are extracted from the market, which in web two world would basically be definition of profitability. Yeah. Yeah, for sure. Very interesting. Yeah. So much on the go. And, you know, I love this idea as well of the Sweat Hero NFT game. I think that's a really fun way to engage people in a different way and to bring NFTs in the mix as well. You mentioned move to earn in there too. And so I know that obviously Sweat Economy kind of is a great example of that, you know, move to earn ecosystem fits within there. You know, there's, it's a pretty early stage space for sure. You know, fairly nascent, a couple projects for sure, like yours that are really growing at a rapid pace, but still very early. Where do you see things when it comes to move to earn in the future, let's say five to 10 years from now? What do you think? How do you think it'll shape, you know, the overall wellness sector in the coming years? I mean, there are several very interesting things here. One is, whole industries are born when you can break a trade -off that, you know, is considered standard. You know, for example, internet broke this trade -off where you could deliver rich message, but very few people, or you could deliver extremely poor message and extremely narrow message to a lot of people. Reach and richness was a trade -off. Internet broke that and the rest is history. You know, you can talk to individual with extremely rich message and sometimes screw with their heads as well as Cambridge Analytica has proven, right? So it's a double -edged sword, unfortunately. So in our world, the trade -off is, or if you want to be healthy, if you want to be active, you got to pay. You got to buy kit, you got to get job membership, you got to dress, you got to do all of these things. You know, how can you be physically active if you're not paying? Actually, because it's beneficial to you and to a lot of other people, we believe that you should be paid for it because it is incredibly valuable. Like in attention economy, you are given free products in exchange for your attention. Why wouldn't we be doing exactly the same thing in exchange for my physical activity? So move to earn is breaking this trade -off and I believe that it is going to become a more or less standard approach because if physical activity was only valuable to me and me alone, I would need to pay. But given that it drives an incredible amount of value for everybody, including countries, I mean, if you're physically active, you're going to be more economically active for longer. The tax revenues from you are going to be higher. It's good business. You know, even if you're looking at it in the dry light of day, obstructing yourself from taking care of people, making sure that, you know, this country is a good place for them to live. But even just in financial terms, it's good business. So this is the first thing that all the businesses in move to earn are doing, regardless if they're Ponzi or non -Ponzi actually think that it's great because businesses are reminding people that their physical activity has value. Bingo. That moves this whole idea of movement economy forward. The other trend that I see is that we need to get fewer people who are focusing on crypto natives, which is the case with a lot of other products and are focusing on mass market, because the value is not in making very, very narrow field of already reasonably rich and wealthy people more physically active. The real value to humanity is going into the lower social stratas, because that typically is where behavior change is most needed. If you look at dominant in A and B social groups, but it's starting to ramp up as you go lower down the income tail. So we need to start focusing on these people. We need to start developing propositions that are absolutely free, that are extremely simple to engage with, like what's what economy is doing. Because a lot of people are asking me, crypto, web3, what's your advice? And my simple advice is, look, we're so early, I can't even point a finger where to go. But if any of you remember internet of 96 and 97, you would remember that, I mean, there was Yahoo, right? There were very, very early businesses. None of them are really sort of dominating. And the opportunity is still there. And the opportunity number one is we still don't have an email for internet. We don't have an ubiquitous use case for web3. That email became for internet. That's what we're focusing on. Can we develop something that every single person on planet earth would be interested and benefit from if they engage with? And if you have legs, and if you can take steps, you know, you can engage with sweat economy. And I think we're on the right path there. The other thing that I would say is that if you actually look at the overall web3, and all the different tokens that exist, I see right now only three use cases or three classes of tokens that can be explained in a very simple fashion. Why on earth do they have value? Case one, Bitcoin digital gold, inflationary protection. It's capped supply. Everyone is paying attention to it. Everyone is in because of the first mover advantage. Therefore, it is playing the role of digital gold and probably is replacing gold as that inflationary protection asset. Case two, layer ones, computers securing asset ownership on the internet. Like electricity powers computers, like tokens, like ETH, like NEAR, like Avax, like MATIC. You need to have them in order for these computers to work for you and secure ownership of assets. And case three is tokenization. And here there is kind of wide range. The most simple one is tokenizing fiat currency, USDT, USDC. Basically, you are turning an asset that already exists into a token to make it more liquid, easier to transfer, easier to exchange with a lot more censorship resistance and with fewer parties being able to tell you can you or cannot you conduct this particular transaction. And there is a lot of experimentation with other assets like TDELs, for example, kind of tokenizing them. And we are pushing absolutely boundaries of that because we're not tokenizing an asset that already exists, that already has markets that can be exchanged. We're creating new asset class because as I said, everyone agrees that physical activity has value. It should have been an asset, but actually without blockchain, it cannot be turned into an asset. And we are creating new asset, new asset class, and the whole new industry that cannot be created without blockchain participating in this.
A highlight from CoinDesk Market Index Week in Review
"This episode of Markets Daily is sponsored by Kraken. Wondercraft AI Voice is here to give you six crypto market takeaways from last week. We will start by taking a look at what happened in markets in the first half of the week. Here, Coindesk Indices provides week -on -week data over seven days leading up to Tuesday, September 19th. The DeFi sector has performed exceptionally well recently. Coindesk's DeFi index surged by 9 .1 % week -on -week, outpacing the overall Coindesk market index, which only rose by 6 .4%. Notable assets in this rally include AMM ThorChain, which climbed by 29%, and the yield protocol TrueFi, which gained 25%. In the distributed computing sector, we've witnessed some positive price movements this week. Several assets, such as the shared storage protocol Storj with a remarkable 27 % increase week -on -week, and the VPN platform Orchid showing an 18 % rise week -over -week, which have consistently outperformed the market. However, Layer 1 Avalanche stands out for its negative performance in the crypto space this week, with Avax declining by 1 % week -on -week. Stay tuned for after the break when we will bring you three more takeaways from Friday, September 22nd.
A highlight from MARKETS DAILY: CoinDesk Market Index Week in Review
"This episode of Markets Daily is sponsored by Kraken. Wondercraft AI Voice is here to give you six crypto market takeaways from last week. We will start by taking a look at what happened in markets in the first half of the week. Here, Coindesk Indices provides week -on -week data over seven days leading up to Tuesday, September 19th. The DeFi sector has performed exceptionally well recently. Coindesk's DeFi index surged by 9 .1 % week -on -week, outpacing the overall Coindesk market index, which only rose by 6 .4%. Notable assets in this rally include AMM ThorChain, which climbed by 29%, and the yield protocol TrueFi, which gained 25%. In the distributed computing sector, we've witnessed some positive price movements this week. Several assets, such as the shared storage protocol Storj with a remarkable 27 % increase week -on -week, and the VPN platform Orchid showing an 18 % rise week -over -week, which have consistently outperformed the market. However, Layer 1 Avalanche stands out for its negative performance in the crypto space this week, with Avax declining by 1 % week -on -week. Stay tuned for after the break when we will bring you three more takeaways from Friday, September 22nd.
A highlight from 1259. CitiBank Tokenizing All Assets! | Chainlink + Avalanche Analysis
"All right, so today we're going to dive into the Citibank report and also what their strategy is overall. This is a very important video. I think you guys, if you're maybe into crypto for the first time or if you're an old dog in crypto and you've been around the block, you're going to get a chance to see this thing that we call use case. And use case is very important because this is really kind of the future of blockchain. So we'll break it all down for you today. My name is Paul Bearer. Welcome back into Tech Path. All right, let's get started on this. I want to go over to Citibank's recent news. And part of this is tokenizing assets. If you look at what their plan is, this was when they dropped the press release. I'll just hit on a few points here. I'm going to zoom in on this for you guys. So tokenizing services for cash management and trade finance using blockchain and smart contract technologies, Citi's token services will provide cross -border payments, liquidity and automated trade finance solutions 24 -7. So this is all good news. And it starts to go into some specifics here. So they've had a couple of successful test pilots. The innovation solution has a promising application for trade finance. So they already see the future here. They're expected to reduce transaction processing times from days to minutes. That to me is an order of magnitude in terms of opportunity for the banking system. I think what we're going to look at in today's video is come to the realization that every bank out there is going to make most likely a similar track to what Citibank has done. Further into this release, enabling clients to transfer liquidity between Citi branches and on a 24 -7 basis. This is all just going to make everything faster. The private permission blockchain technology used is owned and managed by Citi and clients will not be required to host a blockchain node to access the services. So another benefit, because this will be both for institutional and I think eventually for retail. So this is a pretty cool, interesting aspect. Now what they did was they published this massive report. Now I'm not going to go through all 100 pages of it. I'm going to go into specific pages that will break down some of the key things that you need to pay attention to here for this, because there's a handful of projects that are going to benefit in a very big way. So if you're trying to make a play on the future of banking finally getting and integrating into blockchain, there are some things within this report that I think you'll want to see. First of all, I want to hit on page three. This is, I'm going to zoom up on this. This is their money tokens and games, just in case you guys can make some notes. There's a lot in this report, but tokenization expected to grow by a factor of 80x in private markets and reach up to almost 4 trillion in value by 2030. So this is massive. Then you've got this scenario, to be successfully adopted into mainstream. Blockchain needs the help of basically three core elements. And what you see here on screen, one is decentralized digital identities. Yes, okay, there's a lot of people doing that and we are seeing a lot of strides in advancements there. Two is zero knowledge proofs. Yes, we've got that in play. Three is oracles. Very interesting here because, again, Chainlink, one of the only real oracle blockchains out there in terms of the ability to go to cross -chain. And this is something we'll get into in a second. And then number four is secure bridges, just another scenario that is already started and we've already proven that this can happen. So they've already identified this. Further into it, I'm going to go down to page five. Let's go over to page five. This is where they start breaking down these technology drivers and how it helps the adoption. But the area that I want to focus on is the oracles. This is going to serve as a bridge between blockchain ecosystem and external data sources. So remember, the ability to go into other blockchains because if Citi is going to do their own blockchain concept here, that means other banks are going to do that as well. So you're going to need that capability to go cross -chain. And that is a big, big deal in the blockchain industry and, of course, will be a huge factor here in what they're trying to do. Now, we go all the way down to page 71 in this report. Let me kind of fly through some pages here. And I want to jump into page 71.
A highlight from 1257. Binance Falling | BNB Chain Analysis
"Alright, so you guys don't want to miss this one. We're going to be breaking down Binance, their current state of things, and are they in trouble or is this just par for the course for crypto? I don't know. We're going to take a look at all the things that are happening around Binance and whether or not maybe you should take a look at it a little harder. My name is Paul Baron. Welcome back into Tech Path. And before we get started, I want to thank our sponsor, and that is iTrustCapital. If you guys are looking at long -term holding of crypto, one of the things you can do is go into a crypto IRA. It's very simple and very easy. All you have to do is visit their website. You can start your crypto IRA journey. Going into Bitcoin, Ethereum, you can do all sorts of altcoins. You can also get into gold and silver. So it's very flexible. No monthly fees for you. The only fees you'll pay is when you do your own self -directed trades inside your IRA. So just check it out. Make sure and use our link. It's going to help you guys get started and you get a $100 funding reward once you do decide to go. All right. We're going to get into a few points I want to hit on. Part of this will be into, there's a few things happening this week, but obviously everybody's kind of all eyes on Binance right now and have been for a couple of weeks. Big week ahead. Monday, the SEC versus Binance designated court hearing. That's today. Wednesday, the FOMC interest rate decision comes in. We also see the press conference from Powell on Wednesday. And then Friday we'll see SEC versus Binance documents unsealed. That to me is the bigger picture because first of all, and we've covered this many times on the show, is that the sealing of these documents is very unusual for the SEC. So what is it that we could discover on those unsealing of those documents? I don't know. I'd love to get you guys' comments on what you think is going to happen on Friday. Drop some comments down below. Make sure and smash the like button is one of the ways that this video gets out there and it gets discovered by the YouTube algorithm. So please help us out there. We appreciate it. All right. So a couple of things happening here. SEC accuses Binance of US of non -cooperation. And this is a problem when you are a US organization and you're with not coordinating the regular. Now I get it. Nobody's in love with the SEC. But you do have to address it. Everybody that we've talked about here recently on the show who have had some challenges all the way into the issue with Ashton Kocher and Mila Kunis. Those people are all acting like normal adults. And that is, all right, let's see how we can fix this. This is the problem I think that relies or lies within the Binance ecosystem. Another thing here that I want to hit on here, sealed documents in the SEC versus Binance unredacts. And this is under court order now. So this is a big deal. So the judge basically said, hey, we're going to go in and allow the SEC motion to unveil the documents related to the lawsuit. Now, why does it get into a court order to say, OK, we're going to do what is in there that is so damaging that would cause a judge to have to approve this to happen and for them to be redacted anyway in the beginning? I think this is the thing that everybody is asking. What is in there that makes this so dramatic? So this week is going to be a big week. So just first of all, pay attention to what's happening within Binance. Most of you probably are off of the Binance exchange in the United States. But overall, if you look at this on a global perspective, this I think is going to have larger waves hitting Binance over the next few months. And I'm only going off of just the troubles with the SEC, the regulatory problems we have here in the U .S. And you have to also extend it into the Binance organization. As an example, mist of the heightened regulatory security right now, Binance is seeing key executives resign left and right. So chief strategy officer, VP of compliance is out ahead of product resigns. General counsel is out ahead of APAC resigns. Binance U .S. CEO, head of legal resigns, chief risk officer. Why is everybody leaving and jumping ship right now? What is it that they know that is going on? If there is anybody out there that work for Binance and if you guys are interested in coming on the show, we would love to have you because I'm very interested to find out what is going on inside the organization to cause this kind of landslide movement of executives. I mean, this cannot be and is not normal for an organization like this. Makes me think of some others that have kind of been out there. All right. So I want to take a look at Binance U .S. just over time. You can kind of see a little bit of the decline in Binance U .S. over time. Obviously, at the heyday, they were running in BNB, especially when you look at BNB over time. This has continued to fall off in general of everything that's been transacting within Binance U .S. So I don't know if you guys are using Binance U .S. Those of you that have, are you in a position where you've started to exit? I'd love to kind of get your feedback of users that are out there in the space that are actually changing maybe some of their habits. And if so, where did you go? And what are you using right now as your exchange of choice? Other thing right here is total value locked, of course, on BSC. Continues to drive down. This, of course, is over, you know, well, right here was their high all the way back into May of 2021, which again, that was right there before that first pump that we had in 2021. And then obviously the Bitcoin high that we hit in November in late 2021. Others, of course, I'll go into. And this one right here is going into transactions also on BSC. And you can kind of see the decline here that's been going on right now. And it's down quite a bit in terms of total transactions. So all these kind of scenarios, whether you follow DeFi Llama or if you guys are out there doing research on different projects, I'm sure you are and you use tools like DeFi Llama, it's one of the things that we use. All right. So as an example, here's Polygon, just Solara 2 coming in at right around two billion, or two million transactions. And then again, this is just one example of these kind of scenarios that are taking place right now in the overall market. The other thing that's looking at this, and I want to zoom in on this a little bit. I'm going to show you where ETH stakers are living right now. Obviously, Lido number one right there at almost 271 ,000 validators, 32 percent of the market share. Let me zoom up on that right there. And then if you scan across there, of course, is Coinbase coming in at 8 .4 percent right there. And then Binance at 4 .5. So Coinbase really has slid in front significantly. And that's a pretty big deal because that's just the United States versus Binance covering pretty much the rest of the planet in terms of ETH stakes. So to me, that's another major slowdown in where Binance is going. And if you look at Ethereum in general, that's a very strong indicator of health in many of these centralized exchanges. Here, of course, is some other examples of Binance doing something that I thought was a little bit thirsty. Today, we're launching OPBNB on Mainnet. Layer 2 solution now fully released to the public, allowing for lightning fast transactions. This course is coming in on Optimism. And they show some of the projects in here within it. But you can kind of see basically this was a exact model that happened with Base. If you look at this, it's an Ethereum virtual machine compatible Layer 2 built on Optimism, the OP stack, by offering cheaper gas fees set to make blockchain technology accessible to all. It's exactly what's happening over on Base. Base, obviously, though, is significantly higher in a very short period of time, too. So that in itself. Here's some of the project partners. Not a lot of partners on here that you'll recognize, but if you guys know of a project that is out there on this, let me know in the comments. And because maybe this would be a good interview or something that we could take a look at how this is working for Binance and some of their project developers, because that's a big deal, I think, when you look at the growth of these ecosystems. Here, of course, is the OP, total value right now, bridged on OP. So it's not necessarily, what is that, right around $4 million. And if you kind of look at some of the projects that are on here as well, here's just to give you an example on NFT sales by volume. Let's go take a look at Binance here. This is over time. So, obviously, ETH, what's possible, obviously, Ronan edits Heyday, Solana, Flow, Polygon, Cardano, and then all the way down into even over Avalanche, and this is all time, versus BNB Chain. So BNB Chain has had a bit of a struggle in being able to really get consistent within the NFT market and Avalanche is, again, another single chain being able to outperform what's happening on Binance. So things have not come together as a whole. Just to give you an example of some of the top BNB Chain games that are out there. You've got, this is the one that, whether you like it or you don't like it, but as you'll notice here, not a lot of major Web3 games that are showing up here on BNB. So, I don't know, again, if you're a game dev, are you building, are you even planning on building on Binance? Would love to kind of get some ideas on that. We've had some people that have been building on this chain before, and many, you know, have started to look at either migration paths, but also starting to look at other options. I think that'll be the big question as we go forward. Here's the top 10 dApps right now on BNB Chain, and you can kind of see some of those. Again, not other than XCAD, which I would say yes, and TinyTap. Yeah, okay. These are good projects. Question will be is, and will these projects start to migrate and do some other strategies here on the long term? This could be one of those scenarios. Social Fi dApps, also by activities over the last 30 days. This comes in from the top 10 social Fi apps, and this is over the last 30 days. I don't know. Again, not necessarily, other than XCAD, I would say is the only one that, well, FriendTech, obviously, on base is going to be the big one over there. All right. So looking at XCAD, which would be, I think, a little bit of their rock star here, a huge moment for XCAD and Play community has arrived. XCAD app is now available iOS, so this is going to be good for XCAD. We've had their CEO on the show before. XCAD is in our market sentiment indicator, so we do track it, and it has ups and downs, but it is a very interesting project, I think, now that may get some interesting movement here with this movement on Apple. All right. So this was our tweet out to the XCAD founder, recommendation to earn a way of rewarding successful video recommendations. You could both increase engagement, break the status quo on YouTube algorithm. Number two, multi -chain support, Ethereum, Polygon, Solana, Flow, and Avalanche, for obvious reasons, should be done ASAP. We'll see what they say about it. Let's go to a clip right here from Oliver. I was using Ethereum quite a lot, and I started to notice that Bitcoin and Ethereum did not scale at all. I got really excited by Zilliqa, and it was the only things I could see that was possibly going to scale. This was a long time ago, way before all these other chains and stuff. For me, I love Zilliqa, nothing against Zilliqa, but for me, I think the future is multi -chain. Why just remain on one single chain when you can be on a few chains? So this was done, that interview we did with Oliver Bell, this is one of the founders of XCAD, was done months before base was really released, was done well before many of these alternatives that are out there within the market, even to a certain extent, even before Avalanche was really getting into gaming. So I think the fact that he was already identifying that multi -chain was a good thing, I think is going to be a scenario that most likely will play out for XCAD. So I am looking for that to be happening over on XCAD. If you were predicting anything, that might be it. The other thing is that when you think about just Binance in general, remember, they were one of the ecosystems that helped foster Web3, and I have to thank them for that. That is one of the things at least that got many of these dev apps and devs together with understanding of how to maybe create something that was a solution to better Web3 in all sorts of different scenarios. But when you look at gaming and where a lot of these game devs are going to be going, you have to look at a couple of chains. And I think Avalanche is a good example, right? Here is kind of the future of what Avalanche is doing right now. DeFi Kingdom, Shrapnel in there, you know, what else do they have over there? Obviously, MetaOps, many of these you guys have probably started to see. But Avalanche has really started to move along here, so pretty intriguing especially. Now, we have had the game lead on here on our show from Avalanche, which you are welcome back to the show, we would love to have you. I like what they are doing, and I think it is one of those things that, you know, we continue to see a lot of movement. We have done a few videos on this. This was Avalanche launching the first NFT game on PS5 and Xbox. This is a pretty big deal, and we broke this down. I was just here a couple of weeks ago, and we also did a full ecosystem. Go check out our videos on Avalanche. You will get a chance to see all the way back to John Woo, who is the CEO of Ava Labs.
A highlight from Joshua Stone Interview - Bringing Books To Web3, Book.io Books on the Blockchain, Mark Cuban Investment, Cardano ADA
"Welcome back to the Thinking Crypto podcast, your home for cryptocurrency news and interviews. With me today is Joshua Stone, who's the CEO and co -founder of Book .io. Joshua, great to have you on the show. Yeah, thanks for having me here. Appreciate it. Well, Joshua, I think it's timely that I'm speaking with you because I'm in the process of writing a book. And so I'm very curious about Book .io and what are the other options for me as a soon -to -be author where I can publish my book on the blockchain and get some additional benefits. Before we get into all that, though, tell us about yourself, where you're from, where you grew up. Yeah, for sure. So I grew up in Oklahoma. When I'm traveling, I like to tell people I grew up in Indian territory and, you know, kind of encapsulates this sort of free spirit, unregulated environment that I just kind of grew up in. And my dad was an electronics engineer. My mom is a really incredible amateur artist. So I grew up in a very left brain, right brain kind of background. And what was your professional career before founding or co -founding Book .io? Yeah. I got online. Like I said, my dad with the electronics engineering, I got online really, really early and kind of got fascinated with this intersection of graphic and engineering kind of where they cross over. So I really gravitated more towards like a product design and user experience strategy side of things. So I actually got my first large job out of school. I went to Oklahoma State University and worked on the very first version of Fandango for Subark. And that was back in 99 and then worked at some larger internet companies that did a bunch of stuff for AT &T, led the product group for hotels .com with Expedia, and then kind of got more into the startup scene, was in a social media startup that sold. And that kind of got my interest into the book publishing industry. So I actually previously had co -founded an ebook company that we specialized in bulk distribution of eBooks to universities and really large organizations. And we sold that back in 20, I think we sold in 2015, I stayed till 2018. And so, I had kind of approached the book industry from a technologist sort of standpoint. And yeah, and then took some time off after that, really got just super deep into crypto and tried to kind of determine my next startup. I wanted to be a Web3 based company. That's awesome, man. Because you have a Web1, well, you have experience in Web1 and Web2, and now you're building in Web3. That's pretty incredible. What was your first encounter with Bitcoin? I'm always fascinated by folks' different stories, and what was your aha moment? Yeah, I feel like a lot of the story is always like a story of frustration of, I wish I would have. And so, I read the first white paper pretty quickly after it came out, just because I was in a social media startup. So that stuff like circulated quickly of like, oh, there's this internet money thing. And I talked to some engineers and I'm not heavy engineer. I've done some engineering stuff, but at that time, I wasn't capable of studying, I guess I could have really went and stood up a stack and tried to figure out how to mine it, but I tried to convince some engineers to mine it. And that happened a couple of different times. And it was a kind of classic argument of like, hey, this will cost us more in electricity than we'll ever make. And in hindsight, it's like, dang it, I should have just put them in a headlock and made them do it. So, it wasn't really until 2017 that I came around and jumped back in where I could actually start to buy from exchanges easily. I think at that time, maybe Coinbase only had like four coins listed. And so, I spent a lot of time on like foreign based exchanges and just really like diving super, super deep and through all the kind of ICO crazes of 2018 and the crash and yeah, I think I really was becoming more obsessed with what does blockchain mean at like a bigger level from a, just like a decentralized nature and like how, my entire career up to that point, just like sort of thinking like what all would need to be re -architected in this way of like a decentralized blockchain based way. Oh yeah, for sure. So, tell us about book .io, how did that idea come about and what are the different services? How does it work and so forth? Yeah. So, Yeah. you know, one of the biggest hindrances in crypto in my mind has always been just like mass adoptability, right? Like making it accessible to the masses. A lot of times, like I pick on my mom and just say, you know, my mom's not going to use this, you know? Yeah. So, you know, it occurred to me at some point that, you know, all books could be decentralized, like the actual contents of them and be blockchain based. So, you know, a big issue in the book industry, which you'll definitely experience now that you're working on a book is, you know, if you buy an ebook or an audio book from Kindle or Audible or iBooks, you're not really buying the book. You just buy a license to view the content. So, you don't actually own anything, which is why you can't sell it or give it away when you're done reading it. So, making it a book, a blockchain based asset actually changes from a digital licensing to a digital ownership model and that allows you to resell the book. So, you know, when you look at the entire landscape of crypto, there's like, you know, less than a hundred million total wallets, but there's over a billion people that buy digital books every year. So, like by far and away, like digital books are the biggest digital asset that people currently buy on like an a la carte basis since most of music and movies are streaming. So, you know, we have a focus that's very, you know, targeted at true mass adoption and, you know, experiencing the tech benefits. So, really more of a, you know, web two usability, but with a web three functionality. And then even in, you know, inside of that current licensing model, what's really radical, you know, once you buy a book, of course it's stuck on your shelf, but then it also gives the retailer, the author, the publisher, anybody, the right to remove that book from you. It's like literally coming in your house and just like taking a book off your shelf that you bought or changing any of the contents inside of it. So, our mission really became two things. One is to decentralize all of human knowledge and put all books on the blockchain so they can't be changed or taken away. And then second is incentivizing reading. So, really, you know, the core kind of the process of how it works is like we take any media asset could be, you know, a book or a music or video, we break it into a bunch of shards and we encrypt all those and store them in decentralized storage. Then we have a DAP web based reader and we also have mobile apps, mobile reading apps that basically stream those contents in, reassemble and decrypt them and then allow you to read it. So, we sort of, you know, while we use an NFT and decentralized storage and like, you know, smart contracts to program and royalties and all that, we sort of summate all that into an asset that we call a decentralized encrypted asset. So, then you truly own it. You could lend it out. You can give it away. Has huge impact, you know, not just for the end user, but also for the creators, because as you know, you'll experience with your book, you know, once, you know, the traditional model on the payment side is very, is very archaic, you know, like you, if you go the traditional route, you're going to be looking at, you know, you might get some small advance. It's not nearly what the old advances were. And, and then it's going to be probably a year to 18 months before you see anything, you know, from that book. Whereas, you know, when it's blockchain based, it's immediate, it's instant, it's paid out. So yeah, we launched the platform a little over a year ago. We've already sold over 160 ,000 books. And, and we've had some books trade as high as like $10 ,000 for like really unique books. Wow. That's pretty incredible. So, and I want to make sure I emphasize the benefits because I know there's going to be people who are new to blockchain crypto and say, oh, so what I get my book on Amazon, but, um, as the author, uh, there, this feature creates a secondary market, right? For the book is let's say, um, Joe down the street buys my book. He has on a blockchain, he finished reading it. He's like, oh, you know what? I'm going to sell this. Now, if he sells it, he's making a return. And then I, as an author also getting a royalty there. Yeah, absolutely. So that, I mean, that really is the big difference, right? It's like on a traditional print side, you know, I have the freedom when I buy a print book, I can take it to a secondhand, you know, resell bookstore, but I don't even really know what it's worth, you know, and then they're giving me, you know, pennies on the dollar and I'm happy to take it. Cause I have no way to substantiate if that's what that book is worth versus if it's digital, then I can see, you know, multiple global marketplaces and see what the trading, you know, what the actual trading price for that book is right. And then every time it sells and resells and continues, like it's giving you the creator, you know, royalties back, which is really cool from a social side too. Right. So, you know, current kind of, you know, opaque kind of wall with, with an Amazon and iBooks is that, you know, publisher author doesn't have any connection to their audience. So they can't see who owns their books. They can't market to those people. So with this, it's like, it's all on chain, right? Like we couldn't hide it. If we wanted to hide it, they can see who has their book. So then as an author, right. You could go airdrop like, you know, an extra chapter of a book to everybody that has your book, or you could allow them, you know, if they have that book, then in their wallet, they could, they could get a discount on the second book. Like you can begin to merchandise and do things that are just like impossible in the traditional version. Wow. So that's pretty incredible. You said you can airdrop like additional chapters or I don't know, additional information or anything attached to the book. That's, that's pretty incredible. Yeah. It can be a short story or, you know, extra behind the scenes type stuff, like how the book was created. It could be video stuff, author interviews, like all kinds of additional content that you can't get or deliver in a traditional method. Plus, you know, like a social interactivity of, you know, we're building out a structure for, for book clubs as well. Right. So, you know, there's not, there hasn't really been a good solve for like online book clubs. And like, part of the problem is you get so many trolls that come in and you see this on Amazon, like with reviews, right. It's like a book hasn't even come out and all of a sudden it's got, you know, 8 ,000 negative reviews in our system. We can see and verify if you've actually read it. So not only would you have to own a book, but we could, we could put it in place where you have to own it and you would have had to read it in order to get access to a book club and maybe the authors in there participating as well. Right. So it creates a richer, like, you know, environment for discussion. Oh yeah. I was going to bring up the reviews thing and verifying users because that is a game or something that is gained, I should say, with ratings and reviews and it could be manipulated. Now you mentioned that there's a lending feature. So let's say once again, Joe down the street buys my book, he, that person, he or she can lend the book out. And tell us how that, how that works. Yeah. So a lot of times what we say is, you know, everybody's a bookstore, everybody's a library. Right. Because if I, if I have the ability, you know, globally to lend out my book or to sell it, like then you could come and you could rent it for a particular price. Right. And we put that in a smart contract. You could either pay it or it could just be like a free thing. And, you know, one party's covering the transaction costs or, you know, in our method, like we haven't really talked about yet, but we have a token, you know, the person reading it could earn the token that the person that owns it could read the token that somebody else is who's, who's borrowing it is, is reading it. Like there's a ton of different ways to, to construct it, but it really changes the, the idea of, you know, it almost like makes micro libraries of everybody. Right. Then I could borrow from anyone. That's great. Yeah. Because I think about that sometimes I see different books and I'm like, I don't know if I want to buy this or necessarily, and I don't want to have a ton of books in, in, in my home. I do appreciate physical books, but I do have some digital books, but to be able to rent something and then just go see, you know, is this, is this good or whatever, and, you know, I actually want to own this. That makes sense. So tell us about the incentivization of getting folks to read. Is that how the token plays a part in the ecosystem? And if you can tell us about the book token. Yeah, definitely. So it really, it really does like an issue inside of, of the publishing industry, really. And when you start to look at the statistics behind it, it's like, you know, people do buy books and the publishing industry in general is hoping that people read those books, but a lot of times it becomes like just very commoditized. And it's like, they're just trying to sell you the next book and selling the next book. And so when you look at the stats on like how many people per year are reading and like averaging down, and it's like, what we're trying to do is build in an incentive program. So people actually consume this knowledge because very clear data, you know, supports when people read books like society, like definitely progresses, there's less crime, there's more, you know, GDP. So the, you know, that kind of secondary part outside of decentralizing the incentivizing portion of it is we have a read to earn system. So whenever you get a book, you read it, you're earning tokens while you're reading it. And we have kind of a whole distribution schedule and like how the mechanics of all that work. We just released a new white paper that details in kind of great detail, like how all that functions. And then we actually have a initial token offering going on right now as well. We waited a long time to do that. Like we launched the product, we launched all the apps. We started selling books before, you know, and a lot of it was just like from a regulatory reason of wanting to do things exactly the right way. Oh yeah. Yeah, that definitely makes sense. Now there was news that Mark Cuban was collaborating with book .io to release an NFT ebook on the Polygon blockchain. Can you tell us about that and how that partnership came about? Yeah, for sure. So Mark was actually one of our earliest investors and came on board. And at the time we were Cardano based. So we argued back and forth a lot about other chains, which we had always had a very multi -chain strategy, which I'll say real quick too. Like our, you know, we deployed to four different blockchains. We deployed to Ethereum, to Polygon, to Cardano and to Algorand. But yeah, Mark was one of our first investors in. And so we worked through his publisher as well with him, created a bunch of different, the way that our construct kind of works is, we don't limit a book to like a single book cover, like it can have tons of different book covers. So that makes those different covers collectible for different reasons. So with him, I think we did about 400 different covers. Some of those were like rendered pictures of like him fighting sharks and stuff, like all kinds of fun stuff. And he actually thought it was really, really cool. So it just gives you a whole lot more flexibility. And I'll say too, like on the investor side, like Mark's been a great investor, like great advisor, lots of great like networking. I think I was a little hesitant, like just from all that, you know, what you see on Shark Tank, but like his group's fantastic. You know, we really only have two other investors. We have Ingram Content, which is the world's largest book distributor, and they actually distribute and warehouse all the books for Amazon. And then we also have Bertelsmann, which owns Penguin Random House, and they're the largest trade publisher. So we've tried to really be selective about our investors and working within the industry. But yeah, Mark's been great and all the guys at Polygon, the Polygon team has been great to work with as well. That's awesome. Are there other publishers that you're targeting and trying to work with and, you know, what's your strategy? Is it getting them to integrate book .io as another option? Tell us about that. And I don't know how much you can, you know, tell us about your strategy. Yeah. Yeah. So we've I think we, you know, we're somewhere around 20, maybe publishers or so that we've we've had sign up. You know, the publishing industry is very splintered. There's there's basically five main, you know, the big five publishers and they own a bunch of imprints and then there's a bunch of kind of mid tier and smaller ones. And so, like, you know, some total like our last publishing company, like we had close to 200000 different publishers signed with us. You kind of have to go like some of them you get like in big and big batches, right? Some of them are just like one on one. So like a lot of it right now, and especially over the last kind of beginning or last year was just a lot of experimentation, right? So it was going to publishers that we've worked with before in the past and saying, Hey, let's do like a test project together so we can like see what happens and gather some data and make some choices. So like this year's like much more on like the scale up side. We're going to be releasing audio books as well. And delving so into that and like how we do more mass ingestion. But, you know, ultimately, it's like what we're introducing back in is not necessarily say, you know, you know, we think we'll just dominate Amazon and it goes away or anything like that. It's more of a both end, right? Like you could, you know, I see that as like licensing and like streaming almost. And this is like ownership, right? So for the for the audiences and the authors and the people creators that care about ownership, like we provide like that mechanism and all the benefits that go with it. And it reintroduces the, you know, um, just the law of supply and demand, right? When it's digital licensing, there's, there's an infinite supply. It drives down, uh, you know, the price when there's a limited supply, then the price actually makes a difference. So then I can buy a book, you know, for $20, I can read it and maybe it's gone up in value and I can sell it for, you know, 25 or something. Even if I could sell it for half of what I bought it for, I still get more back than, than I do. If I buy that as an, you know, a licensed book. Yeah, no, that's great. And I love the secondary market options that open up with this new world of blockchain and tokenization. So Joshua, you know, you mentioned Amazon, uh, you guys are certainly a disruptive platform. Uh, if I could put it that way, let's say Amazon comes knocking on your door and saying, Hey, we want to acquire you. We want to integrate book .io into our, because we got the biggest marketplace, you know, what would be your thought process? And would you say yes, depending on the number? Yeah. I mean, you know, we get that question sort of semi often, which is kind of funny. Um, you know, I, I think that, uh, if, if this, if the situation was right and an Amazon was, you know, if, if we, if it was functioned in a way that like it kept the core model, right. So like if they didn't, uh, if, if the idea was to integrate and like expand what currently exists into digital ownership, right. Like, I think that makes sense. And some of the stuff they've done with like avalanche and, you know, some of the integration stuff, it's like, I think they, they see that, I think they're a bit more hesitant just from the regulatory perspective to like jump in to that kind of thing. And what we're doing is definitely, you know, quite, quite a bit different, but like, you know, we're, we're doing great. Like the team's grown in a bear market. Like we're adding employees and we're, you know, we're right at profitable. So we don't have any like reason to, to try to rush out and sell. And I think we're going to continue to grow. And I think we're, you know, we have an, you know, community that's, that has materialized behind it that just really agrees with the ethos of, you know, you really should own the things that you buy. So I don't see us, um, selling anytime soon. And even if we did, it would only be to like expand and, um, you know, continue the mission not to, to, uh, to end it or have it just shelved, you know? Oh yeah. I mean, I certainly, I think you and I being in this space, we can certainly agree. This is the future with block tokenization and fractionalization, secondary markets, and much more. It's just the adoption curve. And, uh, just like web one had its adoption curve web two, and now web three has its time. Um, you know, you mentioned Algorand, uh, polygon, Cardano and so forth. Are you planning to expand to other chains as well? Uh, yeah, we probably will. We don't have any plans to expand to any others. Right. Right now, um, we've done some interesting things with, with a few of the chains. Um, we gave a book away at consensus with Algorand to all the attendees. Like we're, we're doing some other expansion stuff or we'll be announcing some, some really cool stuff we're about to do with polygon as well. Um, so just trying to work with, with the chains that we have right now. And, you know, a big issue for publishers is really, uh, you know, I mean, when you get down to it, it's like they chop down trees to make print books. Right. So they, at first were very adverse to, um, to anything blockchain based, right. Especially when it was, you know, like when Ethereum was proof of stake. Um, so they, some of them have had corporate mandates where they would only work with it with a proof of work and they would only work with a proof of stake chain. So, you know, the ones that we've selected, I think, uh, encompass like a, a, a decent size portion of the market, not to say we won't integrate, but like, you know, kind of a thesis on being a multi -chain company is that we really want to be a platform. So creators could deploy to other chains. So we've talked to a couple of others as well. We just haven't put anything official on the roadmap yet. Hmm. Now more of a personal question for me and maybe other authors who are going to watch and listen to this, we'll have this question. So like I'm already in the process. I'm, I'm signed with a publisher. The book is right on tentative date launch next year. Could I go that traditional route, but also integrate with book .io and, you know, have you guys thought about a strategy for authors like myself who, you know, we would want to do both and how would that work? Yeah, for sure. So I think today, like of the hundred something books that we've done, like, um, a little over a third of them have been with, um, with publishers or with, um, with authors. So, you know, basically the way it works is, um, you know, you would just connect this with your publisher and then we work through like exactly what kind of program you would want to do. Right. So, um, we just kind of define those details. Um, we walked through with the publisher, what, you know, exactly how it works most of the time. Like, you know, we're doing limited quantity sort of collectible type stuff right now, but we have the capability to do like a mass, like we actually just, uh, sold a book yesterday that, you know, wasn't necessarily a collectible. It had just a regular singular cover. That's the same cover that's on the print book. Um, and, uh, you know, and it's sold out in like 20 seconds or something. Right. So the publisher's super excited because they've never seen anything like that in publishing. Um, and so it's a great way to drive, like kind of viral traffic and like excitement. So what we found too, is what ends up happening. We've seen this like multiple times in a row is like, we would do something with an author and then it will directly correlate to an increase in print sales because people get that book, they're excited about it. Then they would go and they're like, Hey, actually, you know, I want to own both. And so that's actually one of the things we're working on with our, our, um, uh, partnership with, with Ingram is what we call mint and print so that you could just buy the digital and automatically get the physical, uh, dropshipped to you at the same time. Oh, wow. Yeah. That's really cool. Um, so walk us through the user experience. Um, let's say someone's listening to this and like, you know, I want to go check out book .io. Maybe they have some books that I'll be interested in. Is there, obviously you have a website, is there an app and with purchasing, um, is it crypto and Fiat or both? Yeah. So, uh, so, I mean, we're trying to make it, um, very much, like I said, you know, web to functionality. So it's very easy to sign up. Um, we do take credit cards. So, um, on, uh, you know, you can, you can buy a book with a credit card. It's easy to set up an account. And actually like the, uh, the, the giveaway things that we're doing, the promotional stuff, like you don't even have to have a wallet. Um, we're getting to the point where you won't, you won't even have to have a wallet. You don't have to store seed phrase. You don't have to do any of that. All of it's like self -driven kind of in the background. Um, and so you don't have to buy with crypto. You don't have to know anything about crypto, um, and just making it real easy onboarding process for like, you know, the billion plus people that are honestly just not going to go take the time to learn crypto. Yeah. I've been talking a lot about that recently. With a variety of folks. Um, how do we make it easy for the next billion people? And like you, I've kind of used my mom, my dad as an example. Right. Cause like, they don't know that, like they see the wallet addresses. They're like, what the hell is that? They're scared of it. Right. It's intimidating. I still have to show my mom how to do certain things on her smartphone. So I, you know, but certainly like she's interested in, in crypto and blockchain and, you know, I've invested some of her funds in it, but yeah, to your point. How do we make it easy for the next billion people have the capabilities, but make it make the gooey easy for them. Right. Yeah. One of the funniest comments I got recently, which I won't say who it came from. Um, somebody within my family, um, was like, wait a minute, there's more than one blockchain. Cause like they thought blockchain was like internet, you know, thought it was one big blockchain, you know, which like from the outside, it was like, I never really thought about that, but it's like, if you really didn't know anything about it, you might think like, blockchain is just like internet. And they're like, you know, maybe there's only one and it's like, it's just, it's such a barrier. And so I feel like a lot of times, like in the crypto side, like we're in this bubble where it's like, you know, we're really excited about the technology and stuff, but other people just don't, they don't have the, it's not like, you know, intelligence thing. It's just like, they don't have the time to like onboard and figure all that stuff out. So like, how do we, how do we meet them where they are, bring the solutions and like the benefit of web three and what it actually provides to them, like directly to them. Yeah, yeah, absolutely. And I think more, more companies building in a space need to think about that. Not just for the crypto native folks here, but yeah, like you said, the next billion people who, you know, they've heard about it in passing, they don't, they haven't used any type of crypto or done anything and we got to make it easy for them. So what's on the remainder of your roadmap for 2023? We do have quite a bit of stuff planned. So a lot of it, you know, like I said, you know, we launched like a year ago, so we're really trying to kind of scale up in a lot of different spots. So you know, at the top of that list right now is, is definitely audio books. And then we have a marketplace also that we're launching. And actually on the audio book side, we have one of the larger audio book companies that we just signed with, which is super exciting to have some like celebrity read audio books. And that's like a real growing market segment as well, just in general within publishing, which is very exciting. We have a lot of AI tools and development that are maybe more focused on publisher author, like, you know, helping them out you know, continue updating the reading apps. And then we have some really big author launches coming up that are going to be like, they're pretty massive, like celebrity level authors that are going to be launching some projects with us, which is super exciting. No, that's awesome. Well, I certainly after this conversation, you and I need to chat because of my own book. But yeah, that's exciting, man. And I love the idea of well, you know, you mentioned it's a growing part of the market of celebrity read books. Yeah, I certainly would want to listen to Morgan Freeman read a book.
A highlight from A Massive Crypto Bull Market Is Starting VERY VERY SOON! Crypto Banter 649K subscribers
"This special episode of Crypto Banter is brought to you by Isla Micron, a digital asset designed to create ethical finances in crypto. We're back in Singapore. In fact, right there, the Formula One is going to start this Sunday. More importantly, this is Asia's financial district, and we're here for token 2049. It's the biggest crypto conference I've ever seen. You've got more people and they're excited. There's a great energy. They're talking about big things, like what's going to power the next bull market? Is it going to be the ETF, the institutionalization of crypto? Is it going to be AI? That is what people are talking about here, and the energy is insane. Let's go take a look inside. Welcome to Singapore. The energy here is absolutely insane. We speed up the stairs into the hall, right to our Crypto Banter set. We'll be planted here all countries, talking to top guests, market movers, market innovators, extracting alpha, bringing people in crypto together, and delivering the best that the week has to offer right here to you. I mean, get the vibe here, get the energy that's going on here. Unbelievable. There's no bear market in Asia, that's for sure. Biggest conference I've ever been to. We're surrounded by no less than what makes this market go round. On the one side of us is Ripple. On the other side, Casper. Across from us, Clayton and Polkadot. Down the way, Cardano, Chainlink, Algorand, Antron, Layer 1's oracles, and more, building on the backs of Bitcoin and Ethereum in this ever -growing ecosystem of technology, currency, information and community. But with institutions and mainstream Web 1 companies pouring in, like Google, Bakkt, Sony, CME, and ETF applications from big banks, at what cost? And at what point in the battle are we? All right, so we're here at token 2049. As you can see, I'm running the show here. Well, let's go. This is the entrance. It's much bigger than last year. You're going to see a lot of the big protocols, a lot of the big projects here. You've got Avalanche over there. You've got... What is this? Uh, wow, look at this. This is the entrance to token 2049. Thank you, ladies. Ciao. As we walk in, it's all about exchanges. We've got Bitkiet over here. Big, big, big presence here. We've got Leo Messi, obviously, you know, the ambassador. Definitely, definitely my favorite, favorite, favorite player. I can tell you where we are. Singapore, Asia's de facto financial figurehead, and the Marina Bay Sands, its futuristic fortress, and the center where we've all come. 10 ,000 people plus, and here's what we see. A bullish setup of battle with a volatile mix of regulation, AI, and the halving, all facing us ahead of 2024. Bitcoin price end of 2024, $120 ,000, that's what it says. Look into the ball. Speed ahead, and you'll hear Ripple's CEO himself talking about all things regulation. We can't pretend that, like, government regulation doesn't matter. But here's the overwhelming takeaway from all these market experts. We've definitely hit the bottom, and things are looking bullish. But don't take my word for it. Take Arthur Hayes'. So that when this thing starts rhyming, potentially, it has a lot of room to grow, and from a low level, it doesn't take that much of effort in terms of money coming in the system, but it's going to go up 220x. Did he just say 220x? I think he did. It's not just bullish by setup, but it's also bullish by philosophy, according to Bellagio and to the Winklevoss twins. I think that's actually what everybody here shares. It's free speech, it's free market, it's voluntary, it's entrepreneurial, it's global, sort of the Utopia idea of the open internet of Web 1. And indeed, if this Web 3 narrative is here to stay, everyone from CZ to Nick Carter and Jake Bruckman from CoinFund to Sandeep at Polygon all believe that AI will play a crucial role. It needs to preserve its competitive advantage in terms of being able to on -board more and more developers. And developers and builders continue to do just that. Building, especially ahead of the all -important halving, which is less than nine months away. Even building on Bitcoin, like the ordinals, Munib, Alion, Stacks. And what Willy Woo says is that there's much more activity on chain these days. What you see here is the maturity of the market on the Bitcoin network. Another bullish indicator, gaming. More games than ever here at token2049, and its principal proponents here promoting Web 3 gaming from Pixelmon to Yuga Labs to Animoca and many, many more. As you can see, the conference is so full, people are sitting here on the floor, on stage. The two biggest countries that are looking at exporting Web 3 games right now is Korea and China. Ah yes, Asia taking center stage here with the regulatory uncertainty in the US. We're in Singapore helping spearhead crypto adoption on this continent. In fact, one of the highlights of the whole conference and one of the biggest announcements was Jeremy Alair from Circle announcing a partnership with Grab, the pan -African Asian app integrating USDC. We're focused on working with established consumer internet companies, established payment companies, digital wallet companies, commerce companies. So you're going to see partnerships with a lot of different firms like that, that we continue to roll out.
A highlight from This Asset Is Outpacing Bitcoin As Inflation Hedge!
"And probably flat next time, but it's close to a coin toss. They could raise it in November. CPI is up. Consumer Price Index. What does this mean? It basically means how you feel when you're opening your wallet at the end of the week, and then, you know, the pain that you felt. Well, CPI inflation jumped 3 .7 % in August, more than expected. The main reason, higher oil prices were behind the big rise in headline inflation last month. CPI rose 0 .6 in line with economists' expectations for 0 .6 and up from 0 .2 back in July. In a year -over -year basis, it rose 3 .7 % versus forecast for 3 .6%. So you got to be careful sometimes. You'll see people say, oh, you know, it's only 0 .6, it's only 0 .2, yeah, compared to last month. But when you're looking at a nation's inflation, you don't want it to even go up 0 .5 % month -over -month. You kind of want it to be flat month -over -month because the target is 2 % for the year. You divide that by 12, you're going to have everyone coming in at like, what, 1 .888, I think, like that. So 0 .1, 0 .2, we can handle that. Once you start tripling that, quadrupling that, that's when you're going to start to feel a little bit of pain. The core CPI, which strips out food and energy, rose 0 .3. And on a year -over -year basis, core CPI, which is stripping out the food and energy, rose 4 .7%. So almost a whopping 5 % year -over -year there. Surging oil prices were a major factor in the rise of headline inflation. The Fed, though, will likely take comfort in the continuing decline in the core inflation rate, which fell to its weakest pace since mid -2021. The Fed's September policy meeting takes place next week, and the central bank is widely expected to leave it unchanged. Focus will soon turn to the next meeting at the start of November. Markets are currently pricing in a 40 % chance they will rate height then. So according to the CME FedWatch tool, and the prediction markets have been pretty accurate. So it looks like it's going to be flat next time and probably flat next time, but it's close to a coin toss. They could raise it in November, but we're going to be pretty close to the holidays. I don't know if, you know, it's not popular to do something like that right before everyone has to go Thanksgiving shopping or Christmas shopping. And I'm going to be real interested to see what Black Friday is going to look like this year. Do you guys have any Black Friday predictions? Is it going to be, I mean, we're still shrinking it just because of web activity? I always, you know, I'm probably going to buy a TV. That's my Black Friday prediction. Okay, okay. Drew, you're going to buy any like chicken coop wiring? Oh my God. You know, I've been liking buying chainsaws. So I might go get a chainsaw. Oh, man. Plural. You know, chainsaws. All right, chat. How many chainsaws does one home need, one family need, one man need? You got a chainsaw on a pole that I can stand on a ladder on a ladder and then using the pole with the chainsaw at the end of the pole and really reach new heights. So, you know, there's a chainsaw for everyone. All right, all right. Gas is surging. They're feeling the inflation at the gas tank for sure. Yeah, we've seen gas is moving on up. Some people are saying people's faces will melt because of Avax. Avax Avalanche. Because they're sad they lost so much? Is that why? The tears melted the makeup. Ten chainsaws. Ten chainsaws is the number. Kevin has three. Kevin has three. I got a chainsaw. Piccolo Rick says, Piccolo Rick has three chainsaws. Do you guys like really like Limp Bizkit? Like what's, you know, old Eminem videos? What's going on here? I love that album unironically as a 14 -year -old. What is the CPI? Here we have a little bit of a breakdown of the CPI. CPI is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. They tweak it. They massage it, you know, to kind of make them look a little bit better. Here we have the 12 -month percentage change for the major categories. All items. So we have all items, 3 .7 to the upside. Then food, 4 .3%. Energy, actually down here. And then we have major categories, all items, less food and energy. That's the core, 4 .3%. So this is the year -over -year change. So Brent crude probably down there. Alright, let's see. What else do we have here on the US CPI? We have this US CPI pegged token, and it is outperforming Bitcoin as an inflation hedge. But the important thing is to look at, you know, what is the timeframe that it's outperforming here. In this context, this is created, the token created by Fracks Finance and supposedly pegged to the US CPI seems to be outperforming Bitcoin by close to 40 % since its deployment. But the deployment was from September 22 to press time. So from September of last year. And you can see here that was pretty close to, oh, wait, no, that's the CPI. That is not a Bitcoin. If we go to here, we go to Bitcoin chart, we go to September of last year, go to CoinGecko, go to the top coins, click on the flagship crypto. We can't do one year, but we kind of can. Yeah, Bitcoin is actually up. So outperforming in a major way. So doing a pretty good job there. September, I think we're a little bit high. Yeah, September. So up Bitcoin roughly 25 % and is outperformed it by 40%. So the CPI token, but me, I would stay away from something like that. Like just trading gold on the blockchain. I'd probably rather just buy gold from, you know, a pawn shop or something. I don't know, it depends on the tax. Depends on what kind of tax they're giving you. Someone did their community service in a forest to axes only. Ooh, yeah. Whoa. That's a lot. That's what we're kind of feeling. Mario has three, big one, small one and a long one. They're very practical tools. What do you guys like watching a lot of Dexter or someone? I mean, how much trees are going to cut things down and break things apart? It's chainsaws are amazing. Well, I just hired tree removers because I'm scared of heights and there's just no way my age broken limp wrist, you know, that just seems I would be up there shaking like a Chihuahua dripping pee.
A highlight from 1251. SHOCKING Visa + Solana Test Results | MASSIVE Crypto Payments Update!!
"All right, so today's topic is going to be talking about crypto payments and some of the biggest companies that are involved in this, including Visa and PayPal. What's going to be interesting, though, is how crypto payments may be integrating into the traditional finance system. We'll break all this down for you. There's going to be some interesting information around some of the blockchains that you'll recognize. You guys don't want to miss this one for sure. So, my name is Paul Berra. Welcome back in to Tech Path. All right, so I want to thank our sponsor today, and that is Tangem. All you have to do is visit tangem .com. You can learn a little bit more about self -custody. They have a really cool aspect of how they do self -custody. It's done through a wallet versus a hardware. Now, many of you guys have probably used hardware devices before. This makes it a lot easier. It's an NFC. It just slides right in front of a really slick app on your phone and gives you that secure connection to your self -custody wallet. And there's a couple things you can do. If you go over to their website, one thing that kind of shows a little bit about how this works, the card just slides right there in front of the phone itself, and the app pops right up. Now, you can get into all of your assets. They do have a three -card package available. That's the one I would recommend going with. And then also, on October, early October, if you go to their website, you can actually pre -order their new version that can give you an actual seed phrase. So you've got a couple of versions available, the basic and then the more advanced seed phrase. So you choose. If you like a real simple, quick, easy one, go with the basic version. Always order the three -pack so in case you lose one. Anyway, that's going to help you guys out. Cool thing is you're going to get an additional discount by just using our code down below. So just make sure and put PBN in there. And it helps the channel out. All right, so let's get over to the topic today of Visa and what's happening. So Visa did a deep dive on the Solana blockchain along with a whole slew of other blockchains, primarily that were attached to USDC. Here's what their findings were. Let me kind of scan in up here. First, over the past year, team at Visa has been closely following the technical innovation behind the blockchain scalability. You guys may not be able to read that a little bit. Let me zoom in on that a little bit. There you go. And then they go into what they were testing. They have Visa's capacity to execute more than 65 ,000 transactions per second. Solana has not exceeded transactions at that scale. They average around 400 user -generated transactions per second TPS. So it typically surges to more than 2 ,000 users generated during periods of peak demand. This is a significant level of demonstrated throughput, making it viable to test and pilot payment use cases. So in comparison, Ethereum handles 12 TPS. Bitcoin manages around 7. This is all coming from Visa. Further into it, while blockchains like Bitcoin and ETH process transactions sequentially. So this is interesting because as we've talked about this before, Solana's architecture allows for multiple transactions to be processed simultaneously. So that's the advantage of the Solana blockchain. And you can kind of see the average transaction fee right here in this chart. Solana is that orange line, very stable and very low versus what we see with Bitcoin and ETH that are all gastro. Popularity of NFT release could increase network congestion, making consumer point -to -point transactions, which may be happening at the same time, more expensive and economically infeasible. This has happened on many NFT drops in the past. We've seen various ones that have run into these kind of congestion problems. So this is a real issue that is facing blockchain. But more importantly, if you get into payments, you're going to have a lot of payments happening at the same time across the network. So you've got to be able to handle that. Further into this, they go in and says Bitcoin may take up to 60 minutes. That's one example. And then they show all the blockchains they tested. Solana right there, Blocks & Tilt Confirmation, Time. There was Avalanche right there, right at the same level. Flow coming in, Algorand, Stellar, Tron, Arbitrum, ETH, and then Polygon. So you can kind of see the problems that would occur right here in terms of the speed. Right now Solana is clearly the winner, Avalanche coming directly behind it, and Flow could be coming in there as well. So you look at the ability to transact at the level that Visa needs to go to. These are very, very important scenarios that have to play out. Fire Dancer. So this shows a little bit that Visa is paying attention. Fire Dancer stands out for its most potential and brings substantial performance enhancements as evidenced by a live demo. This was 600 ,000 TPS. Huge. Outside Ethereum, Solana is one of the only chains to have multiple fully independent validator clients. Now I know a lot of you guys are probably saying, Paul, you're just a Solana shell. I get that so much on Twitter. I could care less about any of these technologies. What I do care about is the technology's success, because if it can change things, then it has a use case. I don't care if it's Solana, Avalanche, Cardano, whoever can drill down. This is Visa. These guys are not playing games. They're testing this stuff and they're going to find out which blockchain can walk the walk. This is what we're talking about. So meeting modern demands. These are some of the biggest reasons that we decided to expand our stablecoin settlement pilot to include transactions over the Solana network. Kudos for Solana. As we pilot our stablecoin settlement functionality on Solana, we plan to test whether they can beat and or meet the demands of a modern corporate treasury operation. This is not a done deal. Solana still has to perform. This is going to be a hard, I think, level to match up to when you look at traditional transactions. And this means a lot in the payment ecosystem for sure. I want to go to this clip right here with Tolle talking about this. Let's cut to that. I'm very excited that Visa chose to use Solana. And I think it came about from the strength of the Solana ecosystem and the engineering team and kind of the technologies that have been built over the last five years. I think if you look at the data and the stats, it's pretty obvious that Solana is the cheapest and one of the fastest networks out there. And USDC and Solana is my favorite version of the US dollar. What does this announcement mean for Solana? Are there more new partnerships with financial institutions in the works? Well, it's up to those institutions to make the decision. I'm hoping that when they see Visa choose to build on Solana, that they will also consider the network as well.
A highlight from 1242. +100 Million Users Coming To Avalanche | AVAX Dominates Korea
"All right, so we're gonna jump into Avalanche today, a little bit about what is happening at Korea Blockchain Week and why this might make sense to you and why it's gonna be important to you as you start to look at really going into projects like Avalanche over the long term. We'll get into all this good stuff today. My name is Paul Berra. Welcome back into Tech Path. Before we get started, I want to thank our sponsor, iTrust Capital, if you look into long term holdings, you want to invest in Bitcoin or Ethereum and you want to do it in a crypto IRA, you can do it with iTrust, very easy to do. You can also get into precious metals, gold, silver, all that good stuff. Very low fees on your actual trades, but no monthly fees. So that's the cool part. If you use our link below, you will get a $100 funding reward. So it's very easy. All you have to use is that link and it helps the channel out. Try it out and see what you guys think. Let me know in the comments too, because as I said, we always love to get feedback from people who are using some of our sponsor stuff. All right. Let's go into a few things here. I'll lead off here with Avalanche opening their, kind of their pop up at the event, which was happening in Seoul during the Korean Blockchain Week. And this was all happening right before, so don't think there was nobody there. It just is all right there before the event started. So, but the cool aspect of this is that it was Avalanche putting on a pretty dynamic event. Now I want to play a clip for you to go into a little bit about what the Korean Blockchain Chain Week is. Listen in. Is this what you expected? You're seeing today we have 2 ,000 registrants. And so that's way over capacity, which is a really good thing. The KBW energy is kind of transferring over to us. We're, I believe the second biggest event second to the conference this week. I can confirm that. We've been around. So I can definitely confirm that. Okay. I was like, I'm pretty sure we are, but I wasn't. No, this is totally sure. This is packed. I think culturally speaking Koreans, at least relative to the Western world, is a little bit more conservative. I think the community that we're seeing, especially in the States, isn't really the same type of community, not in any better or worse way by any means, but it's just different, right? And so the first two years was really like underdog story. No one believes in us. And then really trying to find our stride. So we're finding our stride a lot in enterprises, especially with AvaCloud. We also have gaming. It takes a lot of time to build a proper game. So we're going to see that come through probably the next few months or even next year or so. And then also NFTs as it relates to art. And so kind of all of this stuff converges into one Web3 unit. So that obviously was one of the Avalanche team kind of giving some explanation of the amount of growth that they've done in a fairly short period of time. Another thing that is happening is Avalanche's move into the institutional space. Here's a tweet by Anthony Scaramucci. Very impressed with Avalanche's team and customizable infrastructure. Not surprised it's catching on in the institutional community there. Great presentation from John Nahas, which we've had on the show before. If you guys want to check out some of our Avalanche videos, go back and check out John's video that we did. I think it was one of our most recent ones. But all this happening there at Korea Blockchain Week. And again, this market is one of those that is exploding in innovation. And the reason it's important is because as we look at the evolution of gaming and you look at how Web3 will take place, a lot of these hot centers like Korea and within the Pacific Rim are going to be some of the pretty much the leaders around the world. And I think Avalanche will of course play a big role in this. If you look at this piece right here, just kind of showcase a little bit about how long it takes projects to kind of get moving. But enterprise blockchain projects typically undergo four main stages in initial exploration. I would say most companies out there using it today are at that stage. Proof of concept and then pilot, trial and then in production. So you're talking about 25 months there. You can kind of see it right there on the right hand side of the slide there from the University of Cambridge. Point being is that this all takes time. However, we've had about 18 months of a bear market here where a lot of projects like Avalanche have been building. So on their Twitter account or X account, the momentum in Asia continues to as more subnet launches are cooking up. On Avalanche you've got a Japanese gourmet food app, Sarah, which brings two million active users. This is a pretty big app in Japan. Now you look at that market along with other ideas around where these markets are going and the kind of concepts that are starting to utilize things and projects like Avalanche, you're going to start to see more use cases come to light. And I think this is just a good example of one of them. Let's go over to another one, which is Panta. I've got a clip for this one. Listen in.
A highlight from 1237. Crypto Market Crash | Altcoin Update
"All right, so let's break into some altcoins today, take a look at a deep dive on several projects out there. Maybe this is the bleed off that we've been looking for. Is this an entry point? We'll break all that down for you guys today. If you're thinking about altcoins, you don't want to miss this one. My name is Paul Baron. Welcome back into Tech Path. Before we get started, I want to thank our sponsor, and that is iTrust Capital. If you're doing a long -term holding, one of the places you can go into crypto long -term holding, whether you're doing altcoins, Bitcoin, Ethereum, is over at iTrust Capital. Very easy to join. All you have to do is click our link down below. It's going to give you access. And if you do decide to get started over there, you're going to get a $100 funding reward. So make sure and check that out. All right, let's get into a couple of things here today. Part of this will be a lineup of altcoins, many of which are really struggling right now, mostly because of Bitcoin now in the $25 .5 range right now. Let's take a look at the chart and just see where Bitcoin is currently trading as we film this. Dipping into the $25 .6 range right now with a wick. So we've got a little bit of a movement down. This is on the 4 -hour right now. Sentiment, if you've been tracking our CPI, then you probably saw this coming for quite some time, even all the way back to the 29th when we had down sentiment on that little spike that was starting to show up. So it has been at least giving a little bit of an indicator that the markets have seen a downward sentiment. With analysts pointing at that this may be a really rough September, are there going to be some opportunities here? So we're going to break in to a lot of those to take a look. I'm going to go to this first tweet right here. This, of course, is Coinbase Wallet. All about that base launched in August. Monthly recap on Coinbase Wallet for all your needs on BuildOnBase. Lots happening, basically. This is all over now. Absolute, I think, huge success for what Coinbase has done with base as a blockchain. And it has really showed out in terms of the amount of projects that have been flowing within it. When you look at some of the on -chain analysis here, daily active users, they're on base. You can just kind of see the explosion that has occurred during August. And this isn't really the end of it. We will most likely see a strategic rollout with base and Coinbase's efforts to continue to help foster this industry, which I think is a grand master plan with what they're trying to do over there. Further into this, here's, of course, the current data on the total value locked right now. Almost half a billion dollars. So when you look at the growth right here of base, very, very significant overall. Now, some of the most recent spike right here is a little bit because of what Airdome is happening here. So this, of course, is another DEX. The interesting thing is there's a lot of projects that are starting to go in this direction. I don't think base is going to slow down at all. All right. So one of the other things that you can take a look at here is, of course, the total base users now cracking over one million total users. Very significant. But again, a lot of opportunity here for a massive growth. But remember, this is just the first month, and we've already started to see base as a significant player in the market. So think about that, all EVM and Ethereum -based lineup. If you look at Coinbase, the stock, currently on the, let's go over here to the daily and squeeze in a little bit because it is slipping right now, Coinbase is around 77 after it kind of got that little bit of rise right there. This has been mostly because of some of the legislative wins that we've seen in the marketplace this week. Only bad news this week was the fact that we've got the ETFs that push back, which of course is what we've seen with the overall crypto markets pushing down. But Coinbase seemed to have stabilized slightly, even though I do still anticipate that this is still going to take a little bit more time to get their lawsuit out of the way. Obviously, that'll be a factor. The other thing that will come into possibly indicating some movement for Coinbase stock as well as the markets is going to be a potential stablecoin regulation. We'll talk about that as well as we go along here. Another point I want to hit on right here is huge win, long live DeFi. This of course, founder over at Uniswap. One of the things that is interesting, a longtime fear of mine has been a bad legal interpretation of our complex technical industry. This of course has now all changed with the U .S. courts holding up the arguments that they, along with many other industry proponents, have felt that this has been kind of a selected scenario of what decentralized finance is all about. And it held up in a court of law, one step removed from the Supreme Court. So that is a pretty significant adjustment. If you look at Uniswap in general, it of course responded in kind in terms of overall Uniswap daily transactions, which is good. Uniswap the token, not performing quite as well. But at least the point is, is that we've got the framework of what's happening in crypto moving in the right direction, especially when you think about DeFi in general. Let's take a look at the current token right now, Uniswap down. This is on the daily. So sliding fairly consistently over the last few weeks as Uniswap continues. Now the question is, is this one of those that you would look at maybe a long term opportunity on? I don't know. It's not one I hold and it's not one that we keep it in the CPI and we measure it constantly. It does have a current downtrend on sentiment, but it is one that we're always watching. So definitely happening and taking a look at it. Love to get your feedback on some of the tokens that you are holding and that you're looking at possibly entries on. Make sure to comment down below. Always love to get that. Robinhood, of course, is now buying back their stock from San Bank Refreed. This is going to all happen during a litigation approval by the U .S. courts that is handling the bankruptcy and also the scenario that's playing out with FTX. So the good thing is, good news is Robinhood and their FTX days are behind them. So that's, I think, a good win for Robinhood in general. Robinhood also on the heels of the Uniswap win is now bringing DeFi users in and they're adding 200 plus Ethereum and Polygon tokens. So that in itself is another big win for Robinhood. Now, remember, Robinhood is one of the most active crypto exchanges, mainly because of Doge. But the opportunity here, I think, will start to really fly into more DeFi opportunities for Robinhood. Remember, they just launched their DeFi wallet. There's a lot happening there within it. If Robinhood would ever get past that $5 ,000 daily transfer fee or transfer limit on things like Bitcoin and other major assets, I think they would probably do much better. But right now, that's kind of the scenario that plays out on it. If you take a look at hood, the stock, we'll take a look. It is moving and responding slightly here. Not doing too bad. Holding at $11 right now. Up pretty much on the month right now, all the way back, if you look all the way back into February, that's about where we were back then after that little bit of a climb. The good thing is the trend line is definitely on a slight up range for the year. So interesting, one, is if you're hedging the crypto markets, some of the stocks that we watch, of course, is Coinbase, MicroStrategies, Robinhood, and a handful of others when you look at some of the mining stocks out there. But overall, interesting play for Robinhood. Again, Robinhood, I think, is going to get very active. Once that these markets start to loosen up, Robinhood will most likely be one of the key players. All right, of course, if you didn't catch our Chainlink video, make sure and check that out. A couple of things within the Chainlink scenario is the fact that these experiments that have been conducted on SWIFT were all done on Ethereum and successful, additionally Avalanche. So interesting aspect to that. If you look at Avalanche currently right now, definitely not coming out. It's definitely at one of its lower points right now, under $10.
"avalanche" Discussed on Epicenter
"Like if you're doing this, like, I don't know, where have you been? Like you've been to Iraq, ends up destabilizing everything because like, if that particular approach has some sort of setback, you know, whether that be like regulatory, legal, like security wise, who knows what it ends up, we get everything because we now all made this assumption that everyone has to do this way. So when people talk to me about like, do you think there'll be a single chain or like, is Avalanche the only way you could ever do something? I always emphatically say no. And I hope, you know, I really hope it never is, right? Like I think that the notion of having this like really interesting heterogeneity in the space, although it may seem suboptimal is like the, not to use like the cliche word, but like the antifragility of everything is I think what excites so many people. But yeah, I really think that this is a great transition too, to the hyper SDK step, which is trying to, at least on the Avalanche side, make that easier to take advantage of. Right. Yeah. Let's go there. We're like 40 minutes in and getting to the meat of the conversation. So right. We talked about like Avalanche, like sort of trade -offs. It's making the concept of subnets. And now essentially what your main focus is in Avalanche, as far as Einstein at least, is this, this concept called like, or the project called Hyper SDK. Can you just, yeah, basically tell us what is Hyper SDK? Yeah. So, I mean, for a long time if you wanted to interact with Avalanche in a custom way, we would say, or I would say like, oh yeah, you can do anything. It's so flexible. Like there's so much you could possibly do, but if you want to get started quick, you know, we have the subnet EVM, which lets you like spin up an easy app really quickly. And that's really what got people's attention with subnets in the first place. I like tweeted this thing out about like starting EVM with a single JSON file. And then that, like people loved that post, but as a result, like for a long time, all people ever did on subnets was deploy an EVM because it was just like this super JSON easy config. And then I realized one day, I don't, I don't remember specifically what it was, but I was like, you know, I keep saying it's so easy and straight. Like there's so much you could possibly do, like just go do it. I realized that like, you know, to actually do that from scratch is not a super straight forward task and it requires like to do it really performantly, quite a bit of engineering work. And so I decided at one point, hey, let's just in one particular case, offer like a very opinionated view of how you could build a foundation for a blockchain that let's people go from maybe step zero to step 10 and then let them, or like maybe step zero to step eight, and then let them go from step eight to step 10, because there's a lot of functionality you want that you would want to build on top of the Avalanche Go process that is not necessarily provided out of the box. One of those, for example, would be something like state sync, which you can go into later. It's not something provided by the core of Avalanche, but any high throughput or modern virtual machine would probably want that. So I, you know, thought about it a lot and I was like, you know, there's a lot of things here actually that if we just implemented one time in one opinionated way, could make it much easier for people to build their own thing. And to me, Avalanche, right, if all it ever is, is like, yeah, it's a great place to run like modded EVMs, I guess. To me, that like is such a short fall of like what the original hope and vision were. Makes me sad, I guess. But generally, you know, if you want to see change in the world, you got to be that change, I guess, sometimes. And to me, like the hyper SDK is something I am very passionate about and have a lot of fun working on. So the hyper SDK in short is it's a toolkit or framework, really for people that are trying to build their own blockchain that takes advantage of the best Avalanche has to offer that we may not have been able to take advantage of in other virtual machines we have because we're trying to preserve maybe some sort of functionality over performance. And I think in today's blockchain world, so many people are interested in scalability. scale That targeting at all costs was really the North Star and continues to be the North Star for the high -press decay is to say, if someone comes up and asks, what's the fastest and most scalable thing I can build on Avalanche? We wanted to have an answer, at least Avalanche did for what that would be. And that's the high -press decay. So maybe I actually want to start with, well, any conceptual question on like, what do you mean when you say virtual machine? Yeah, that's a good place to start. Often like our conception of virtual machine is, okay, it's a Turing complete virtual machine where there's some kind of programming language, a solidity with which you can smile, write smart contracts and you can deploy them. But I think that you mean virtual machines to be something broad. What is it? So in the context of Avalanche, a virtual machine is anything that is the subnet specific logic that is running. So that includes state management. That includes RPC. It's more of the virtual machine idea of like you run an EC2, like it's a general computing surface that you can utilize with some like functions that are provided to you. So like, I agree with you, like the typical virtual machine people use is like Ethereum virtual machine, right? Like it's just the logic that executes the transaction. Like, hey, this is the transaction format. This is like how that transaction is actually executed. Great. Now we've done the state transition. What's next? Now, I think because there's so much complexity here, virtual machine has kind of broadened and narrowed based on who you're talking to about what exactly it is. But in this case, you should think about it more so as specifically, you could say any sort of binary that implements like the Avalanche Go required consensus calls, and that can be anything. So, you know, you don't even need to have blocks. You don't even need to have, you know, any of this crazy stuff. It's really just a binary that can run and communicate with Avalanche Go. Now, the components there, just to be specific, right? Things you may want in something like this. What is a block? So you would define a block. What is like a transaction look like? You would define a transaction. You know, what do you store? Like what do validators actually like to store on their disks? You know, how do you access this thing? Like what sort of API calls you want to have? It's all up to you as a virtual machine developer. And so you have to remember, right? That Avalanche, the goal here is how can we create as low level framework as possible that still allows for this messaging interface and shared staking layer? That if you were going to create your blockchain from scratch, you could still do so in almost any case on Avalanche. And so the virtual machine we're talking about here is much more like, you could think of it almost like a server, like it's much more holistic than just a state transition logic that you may find in like the EVM or the VM. You can almost think of it like a mini node kind of particular to your blockchain. And now Hyper SDK sort of is a like, I guess, toolkit and allows you to build these takes like some things out of the box, give you something. Could there also be essentially like another SDK, like eating things someone builds that has like different opinions about how IO should be done something? Exactly. So the Hyper SDK basically says, you know, what I described as basically super broad, right? It could be going, could be rust. It could be, yeah, your blocks could be potatoes. Like the whole idea with the Hyper SDK is to say, okay, you have a million options. We're going to choose a bunch for you. So this is what blocks look like. This is what transactions look like. This is what addresses look like. And then the whole idea is we'll give you areas where you can inject custom logic or your own design that does not impact the throughput that the network should be able to attain. So you want your own custom thing, like you want your own transaction types. Maybe you want your own, you know, you want to use certain types of cryptography, like there's account abstraction, like, you know, you want it, you want all that, but you don't want to like actually implement, you know, block distribution. You don't want to implement like statement. You don't want to implement state syncing. You don't want to like, so it takes a very particular set of trade -offs and said, we assume most people want this abstraction break, which is higher than what Avalanche Go provides out of the box, but lower than just deploying a smart contract somewhere and says, most people want to probably start around here. And that's, that's the idea of the Hyper SDK with, with the underlying assumption that you want to build fast, or you want to have a lot of transactions.
"avalanche" Discussed on The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast
"The pictures are great, even though they have funny numbers of fingers sometimes and some details they get to the AI gets very wrong. I'm sure those are going to get addressed. And look, AI is going to explode. That's clear. And at the intersection of AI and blockchain lies a whole lot of even more exciting things that one could do. Blockchains are essentially a means for programmatic direction of value. Programmatic management of value. Imagine what you could do with an intelligent bot that is able to digitize assets, send them by them, trade them using a uniform interface. That is going to be an amazing new thing where I think asset pricing is going to be determined not so much by people anymore, but also by bots by algorithms. I worry as a techie, I worry about a lot of things. These AI bots are only as good as their training data. And the training data, depending on how it was collected, reflects the biases of the society in which it was collected in which it was generated. So I'm really worried about entrenching certain things that exist at the moment in time, but once it becomes part of an algorithm, it begins to self perpetuate. As a simple example, just to bring it back to reality, so that the people listening to us don't think I'm making crap up. You know, I'll give you an example. So if you have two assets for the longest time, people thought Solana and avalanche were competitors. And they thought they did these two things move together. So the trading bots begin to learn that these things move together, and then they start to reinforce that whenever Solana goes up avalanche goes up and with Solana goes down the avalanche goes down. And so, you know, if you have the training data that you did, up until the FTX crash, then that's fine. You've got that training data and that correlation is reinforced. And then FTX happens. And that should affect only Solana. It's a Sam coin. We started this conversation talking about how it doesn't affect avalanche. But because the bots have learned this, you have to now wait for a whole training cycle before the bots can unlearn the correlation between salon and avalanche. So this is very real. This is the simplest form. I gave an example from trading in crypto, but there are many more far more insidious cases. I think we've all seen the gender bias that these bots can pick up. We have not seen as much, but the Europeans know this. The algorithms for pricing offer different prices, depending on your ethnic background, depending on your nationality. These are deeply disturbing things that we as a society must fight against if as AI takes over. Go ahead. You are a pretty serious guy.
"avalanche" Discussed on The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast
"Understand just how much money can come in and how much money can come out of the system just based on an announcement from the fed. So when they become when the fed changes it stands, suddenly that money on the sidelines will look for investment opportunities. And then if you look around, what are we going to spend our money on? We can't all go into AI. And the AI valuations are sky high. And there will be some stuff there, maybe, but $30 billion valuations for things that barely hold a conversation. And if you want to buy into it, fine. That's great. But you can only do so much of that. So then you got to start looking around. And the world at large needs decentralized finance. It needs decentralized blockchain solutions. It needs a point of rendezvous for people who don't know each other to come together. Digitize their assets trade and send them and so forth. So this technology isn't going anywhere. And that money will have to go somewhere. And so when the macro condition changes, I think it's going to be a nice bull run. I don't think an AI bot could interview you gun, as well as we are. Absolutely not, Dan. I think the questions will be shallow and ridiculous and go in circles. And of course, the safety will kick in and after I start ranting about something or another, the AI bot will cut me up. I've talked to some degens who when I mention institutional money coming into the space and isn't this a good development. They very quickly stop me and say, no, no, we don't need that. We can survive and thrive without them. It sounds like you would like to see that money come back into the space. Do you think the space is in danger if it doesn't come back? No, it's not in danger. I think the space is fine as it is. I think at the moment it's as risk off as it could be. And we're zooming perfectly fine overall. And as I mentioned for the reasons we mentioned, right? People understand this new asset class. There's awareness. There's a bunch of people who now begin to go into crypto and hold a portion of their net value in crypto. So no, the space is not in danger.
"avalanche" Discussed on The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast
"And I worry about this because you know my background, right? So I was here before satoshi, I was very involved in Bitcoin. I was very involved in Ethereum. I was one of the people that called out the Dow hack before it happened. So my background is closest to the core of who I am is very close to what we would call the degens. But you are right, that a single chain can not cater to both at the same time, right? Like you can't really have one set of rules that pleases everybody. We know that the Europeans want a different set of rules from Americans. We want something different from the Chinese, et cetera. And until avalanche came along, it was actually very difficult to put all these things together. And with a Bitcoin maxis are the way they are because of the technological limitations underneath. They have one chain that chain doesn't know jurisdiction and therefore their anti any jurisdiction. So Ethereum is in a sense very similar. So it's just a single chain system. So but the thing that's nice about the avalanche is it's multiple chains. The avalanche sea chain is very much in the OG crypto spirit. So that's a fully decentralized chain. And anyone can join and there is no notion of a legal jurisdiction on that chain. The institutions that are on the edges of that blockchain, they need to do compliance, but the nodes inside the system, they operate as normal. In addition to the avalanche sea chain, you can have dedicated subnets for different use cases, something that we're doing, for example, that was recently announced is an institutional subnet in cooperation with in tain, where essentially we will have a chain that's very similar. We already have a chain that's very similar to the sea chain, where you can have smart contracts and so forth. With the added restriction that you know every participant has been KYC AML. And therefore, there is no notion of fear that you did a trade with the North Korean entity. If you don't like it, don't use it. It doesn't hurt you in any way. You can always use the sea chain. And so we are now able to bring together these two things that otherwise would have required a compromise of some kind. Can you tell us a little bit more about what you're hearing from institutional players? Obviously, there's a demand for what you just described with. But we saw towards the end of the year and very early this year, people who are managing portfolios. There's a lot of money being pulled out of the exchange traded funds that are meant to track or in otherwise mirror what's going on in crypto. It seems like at least a couple of weeks ago or up until a couple of weeks ago, they were pretty down on the industry. You know, what are you hearing now?
"avalanche" Discussed on The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast
"Wanted to ask just because I know you've said it and I also read it in a sorry report recently that you guys were pretty well insulated from the blow up at FTX. There wasn't too much of exposure for you guys. Is that still the case? Absolutely. We got very, very lucky with the entire FDX saga. Sam is an interesting fellow and he had this coins and for a variety of reasons we were never a Sam coin and therefore we stayed out of that whole craziness. Our ecosystem as a result also ended up keeping its distance from FTX and the Sam operations. So the people in the avalanche ecosystem were mostly not affected. I did want to say, it's all in the same report. So daily active addresses were flat for the last couple of months of 2022, but transaction volume was up. So that's some good with some bad. What do you think has to happen for, you know, to see more people being active on the network, or is this just a symptom of we're in a bear market and people aren't as active as they usually are? We're seeing great growth now. And one of the main drivers for growth are the new subnets that are coming online. So avalanche is not like the other chains. It's not, you know, just to orient people. Bitcoin is a single asset single chain kind of a system. And Ethereum is multiple assets, but single chain underneath. And avalanche from the get go was always multiple chains in parallel. And people come in and they create a chain for their own application specific use, whether that's a game, whether that's a DeFi application, that's very demanding that wants to insulate itself from high gas fees, once insulated itself from congestion on the chain, or whether it's just an entirely new use case altogether, like the things that we're doing with governments. So there are many different reasons why people might create their own separate chains. And each and every one of them brings with it a new community.
"avalanche" Discussed on The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast
"Stacey Elliott. Welcome back. Thank you. Good to be back. Awesome. And it's avax, avalanche day, although make sure you say Ava labs, you know, like many of these blockchains, you've got the blockchain itself, but then the executives work for either the labs or the foundation because it's decentralized, but we've got basically as I understand it, the brains behind the blockchain, and that is emin gun sirer today. Yes. Who has been in the game since before satoshi? I mean, how many people have we had on that can make that claim? Totally. It's funny. We always talk to people, especially in the last few years, they say, oh, I've been early in crypto. I'm early. I've been, I've been in crypto since 2019. And I'm like, okay, you know, I've been writing about it since 2011. I think I'm early, but earlier is like Adam back, you know, and the early coders and the people who were involved with the first block and yeah, good and doing proof of work stuff since pre Bitcoin. Yeah. And for having been so early and so very much at the foundation level of all of this. He is very comfortable talking about all the different partnerships they have with all these kind of standing tech companies and looking at policy and stuff like that. So it's an interesting mix that we have in gloom here. It's funny like I was looking at his LinkedIn and he's kind of not shy about his techie background, but I mean, you know, it's like Princeton, PhD in computer science, Todd at Cornell, and then founder of a lab, so it's like all the bona fides, but of course sometimes in crypto and I'm going to ask about this. You often have people who they don't want to see that. It's like they're more impressed if it's like, you know, I came from the school of Discord degens and daos. And it's not about pedigree. So and I've heard avalanche sometimes mocked a little bit as like the suits, you know? It's like the VC chain. But we'll ask him about, you know, can you really cater to both groups at once? Because avalanche is kind of very wall streety. Yeah, we can't all be hardcore degens. Not all of us. Well, in the dirty secret of a lot of crypto is like, it's not that decentralized. There has to be a little centralization. Let's bring
"avalanche" Discussed on Crypto Camel Podcast
"And we want to talk about a new and interesting partnership that's happening with one of our favorite crypto companies avalanche. They've recently partnered up with Indian game streaming platform local and no other network could have probably been best suited to handle a large number of fans. 165,000 are already on the waiting list to try local legends. And the number is only expected to go up. And what brings avalanche and local edges together is local moving ahead with the construction of the NFT marketplace on avalanche. So the network is sure to benefit from having over 50 million users, fans are more likely to have a new venue for entertainment. And local already kind of rides high by hosting a problem of approximately 85% of gamers across the globe. But another plus is it seemed growth of 900 percent in recent days in the number of active users. Even though local legends targets the Indian market majorly, it is also soon to go span across the world with the major benefit of allowing creators to engage with their super fans. Restrictions are pretty much a dot as of now. Since most features will be shared in the days to conferences, showcasing pack drops will have a few more pieces of information to explain how it intends to benefit everyone in the community. The development was announced by avalanche through an official tweet. Now, local legends carries the aim of revolutionizing the fantasy game segment on subnets. It's currently backed by recently raised funding worth 42 million in series a and it has been termed the biggest series a funding in the history of India. And in the south East Asia gaming industry
"avalanche" Discussed on Northwest Newsradio
"While working on a two week construction job, they're starting today. We're going to be make sure the heater works good. This group was likely ready to get in some heat after coming out of the back country. Avalanche forecaster Dallas glass tells me they were learning how to spot the danger of an avalanche while he was up skiing that back country area for the northwest avalanche center. I found four large avalanches. Would you say large avalanches for the untrained, what does that mean? Yeah, a large avalanche is any avalanche big enough to bear and kill you. This is why the center puts out warnings to help people avoid the dangers. Glass explained for me that avalanches start way up high, then run downhill fast, sweeping of anything in the way before stopping and piling up at lower levels. In Federal Way, this afternoon officers say a man shot his wife on the 30,000 block of 8th avenue Southwest. Officers got to this scene and took a 70 year old man into custody. He is 58 year old wife was taken to harborview medical center with gunshot wounds, Federal Way police say it is a domestic dispute. Molly Shen. A man was shot to death this morning in auburn, the King County sheriff's offices they were called to a home on military road south and found an open front door when deputies entered the home just after 3 a.m. they found the dead man. No Russ had been made in the investigation is still in its early stages. To people are dead with another two seriously injured after a man allegedly stabbed all four of them at an addiction recovery home in kitsap, police said they were called to the home Sunday Night and found a suspect crawling away from the house holding a butcher's knife. That man has been arrested and is in the kitsap county jail on counts of first degree murder and assault, the two victims who survive were flown to nearby trauma centers in serious condition. A man is dead and a woman suffered severe injuries after shooting in south King County early Saturday morning. Federal white police responded to reports of a parking lot shooting that came in around 1230 a.m. from the brickyard pub located on military road. Police arrested a man suspected of pulling the trigger. The male victim was pronounced dead at the scene while the woman who was shot was taken to harborview medical center with a severe but non life threatening injury to her leg. Jackie Kent says crime and homelessness will likely be the two big topics tomorrow when Seattle mayor Bruce herrell gives his state of the city speech. People in South Park are reeling after gunfire erupted from a car on Friday. One of the two people injured was at home off 8th avenue and cloverdale, hit in the back by a bullet shot through this window. I was really confused and not sure what had happened. But I called 9-1-1 immediately, went to the hospital. An architecture firm owner nearby stresses he would like to see more proactive policing here to help prevent both violent and property crime. We've had car break ins
"avalanche" Discussed on Bloomberg Radio New York
"To you And avalanche And the ability to bring down gas fees at the end of the day So first of all great show I already DVR that and I watch it all the time So thank you for putting that on And in terms of what the merge will be doing it's really Ethereum will get to where avalanche already is The first part it will come in stages in the first part for them will be going to proof of stake but it's still going to miss out on the instant settlement that avalanche has or the scalability that avalanche has I mean just this weekend the avalanche blockchain had a scaling function called a subnet and these gaming companies actually launched on the subnets transactions on avalanche increased 25% while prices went down like 20 fold There's more transactions now a novel answer on the daily basis there are on Ethereum So with the merge and with all these things that we're trying to improve there will get to at some point a place where many newer generation layer ones are already at such as avalanche I should say the show also is at 1 p.m. my bad John but thank you so much We also the speaking of avalanche and the ability to kind of make it through this down market I'm wondering from your perspective as things are kind of cooling down in the crypto market what do you take this time to do Take this time to focus Again the ones it's similar to the segment previously when you had an adventure capitalist on The good companies that have a good call it balance sheet They have the bills you now to gain share and to continue to build Maybe instead of thinking about 18 months or 24 months for the next race you want to be a little more frugal and last for 24 to 30 months But with that said the ones with the good balance sheet and the ones we give products should go out there and innovate and take some share So that's how avalanche and all the labs is treating this downturn Such a pleasure for both of you John whoo of course present of all the labs and our veteran Bloomberg Chanel basic Joining us for crypto show as she does as always Coming up we got to end this show on a fun note We're going back to the movie.
"avalanche" Discussed on The Ski Podcast
"I'm sure you know a rocker is. You know, I spent so much of my time on the snow and avalanche side of things and the safety aspects that ski technology edge basically do what I'm told or listen to the experts. But I know what the effect is and it helps to pivot the ski a lot more and powder. That's for sure. Let's go back to the Olympics. I interviewed a Billy Morgan, Olympic medal winner, and I did say to you in the intro that is not just one Olympic medal winner in this week's episode. As I was lucky enough recently to interview Izzy and Zoey atkin. Now, is he won the Olympic bronze in the slopestyle at Pyeongchang? And she's going to be joined at Beijing by her younger sister Zoe. He's competing in the big air. I'm going to publish a special episode with a full interview, but for now, here's a little snippet of our conversation. And you've been on the British program. You know, from a very young age. I know patch arpu was pretty well from a long way back when we were both in caucho altogether and in fact I've interviewed him for the ski podcast before. I understand he was sort of quite influential in you coming towards the British team. Is that right? Is he? Yeah, he was definitely a key figure. You know, I have dual citizenship and close family ties in the UK, so it was already something I was thinking about. And then, yeah, my dad and I remember we had a meeting with pat Charles and just came away from that meeting with such a positive impression of him and the team and that was a big played a big role in my decision. And I read somewhere that you were brought up on a diet of a ribena and Marmite. Not many people have Marmite in their lives, unless they got a British connection. Yes. So in the Marmite test, some people say you either love it or you hate it, and which side are you falling on Zoe? Oh, love it for sure. I don't know how you get hate Marmite. It's so good. Every time someone tells me they don't like it. It's because they put too much on it. Now I've got a question for you. Obviously, both very talented in your family. One of the is doing sleep style and one of you is doing half pipe. Did you just like pull things out of our cup to decide who was going to do what? I actually followed Isabel at first into slopestyle. I mean, we started doing style in general, so we were doing everything we were doing moguls, Ariel's flippy and half pipe. And I mean, I kind of just happened to be better at half of skiing and it was definitely a lot less scary for me. So I preferred it and then when you start training more because you like it more and then you get better. And yeah, now I'm specialized in half pipe and it's cool that we get to do different ones. I was just gonna say it is good that we compete in separate events because we are both very competitive in nature and I think it would probably not be good for our relationship if we had to compete against each other. Megan quick question for you then, will he be watching the Olympics when they're on and if you are what's top of your list to watch? Oh, of course I will. I got absolutely hooked on the Summer Olympics. So I can only imagine what I'm going to be like when the wind to ones are around. I'm really excited about the ski bigger this year. I mean, it's the first time that it's been included in the competition. So it's going to be an amazing to watch that. And, you know, you were just talking to Izzy and Zoe. And we finally get to see them doing what they're great at. So it's going to be really, really, really interesting that one. And also the ski and snowboard cross. I absolutely love watching that every year. Every Olympics just because it's such a fun event. Yeah, that's definitely my favorite as well and my kids are really enjoy that one. Henry, what about yourself? What will you be looking out for at the Winter Olympics? Racer and Alpine racer to buy my origins of skiing. I'll definitely be watching the Alpine event slalom, giant slalom super G downhill and the combined events and all my kit and my three kids are in the club this sport and Valdez air and really keen on that. But as you and Megan pointed out, I love watching the skier board cross. And, you know, the other SKU events as well. The big air, but I have to say, it's been embarrassing. I love watching the figure skating. I think they're amazing. You know, the stuff they pull off under such huge, huge pressure is to me phenomenal. Because I did say there's a business called grace note, I think, you know, look at current performances and predict. How many medals each country will get? And I think they said team GB are predicted to get three medals. And that's across everything. Now, I thought that was quite low. I think it'll be more than that because I think the skiers and snowboarders could get that, if not more on their own. But we'll be following the Beijing beat more closely as we get nearer to the games. Right, we'll move on to towards the close of the end of the year podcast just now. I noticed I had a little look and I see we've got 84 ratings on iTunes Apple podcasts just now with an average score of 4.7. If you think 4.7 sounds a bit low and you think we deserve a 5 star about giving us another review. That would be really helpful and it does help other people find us. Also, reviews and since our last episode, Leon butler, well, I think he must have been at Birmingham show because his comments says it was called see the ski podcast live. Someone called Al Morgan on LinkedIn said a superb episode of the ski podcast. I think he might be biased. Tim boys on Facebook said, I only managed a few hours Saturday morning. He's talking about the Birmingham show, but I was really impressed, especially the speaker lineup, which I can only see in he means us at the ski podcast. Someone called sofa to slopes on Instagram said fab morning of endurance training while listening to the ski podcast. So I'm glad we're keeping you going through your training there. Don't forget, you can always buy me a coffee at buy me a coffee dot com forward slash ski podcast. All couples are much appreciated. This episode I'd like to thank Kimberly Kay and Mike Greenland. And Mike Greenland actually said, love the podcast. I've skied at least twice a year ever since 1970. I started on wooden skis and lace up leather boots, things have changed. Missed my first season this year due to COVID, but hope to keep the calendar annual record going as I'm off in December. So enjoy your holiday in December Mike and thanks very much for the coffee. And now I do really enjoy reading all feedback about the show. So please do email me the ski podcast, at Gmail dot com. We also have a few stickers left. I just sent some help to Austria this week that I can see the pile is diminished, but we have some. So if you like some for your skis board helmet or phone, just drop us an email and with your address. But for now, I'd like to thank Switzerland tourism for sponsoring the show and thank my guest today. Henry, thank you for joining us. Thanks very much Ian. Thank you. And an honor as well. And thank you Megan for joining us. Enjoy your skiing later this month. Thank you. Oh, I will try. I feel like, like everyone else, I would definitely be appreciating it a lot more than normal this year. That's great. And finally, I'd like to thank you listener for sharing your time with us until next time..
"avalanche" Discussed on The Ski Podcast
"You mentioned that you did a degree in. I did a degree, I specialized in avalanche forecasting at Montana state university in Boston University. And that was part of a geology degree that I did in those two places. And that was after I did my gap year. So I was able to rip myself away from this fantastic thing that I discovered off pieced skiing and touring. But it did set the theme for, really, for the rest of my life. And my specialization and studies that Boston University state university, which was avalanche, avalanche forecasting as part of geology degree. So I can see you had the academic background and practical experience from being on the mountain. How did that end up becoming teaching and sharing that with other people? It's a very good question. Because I did intend to do master's degree PhD and studying snow and snow metamorphosis and actually the theme of my my research that I did was called the evolution of the snowpack and in relation to weather events. So whether events in the evolution of the snowpack, what kinds of weather create unstable snowpacks, what kinds of weather events create stable, snowpack. So I was going to continue doing that and was looking at universities in gron upland, France, when I came back over after my very close call with an avalanche. But then I discovered that in not just about these air teen area, but all throughout the Alps, people were dying in avalanches for the most simple basic reasons or even with the most simple and basic knowledge about accident reduction they could have avoided a steep slope above a cliff or a steep slope above a massive hole that buried them under two or three meters. So I realized it was a big gap between the theory of avalanches and also avalanche awareness in terms of reducing the chance of being caught in an avalanche and injured or killed. So I at that point in the late 80s embarked on avalanche awareness. And that started up in Valdez air and continuing on now. You mentioned that you do these talks in Val des. What kind of format does it take then? Well, it started in Valdez era, but then it spread out all through the Alps and continuing on through a traditional UK tour that I'm kicking off next week in London, covent garden at the Ellis Brigham store there on Tuesday, the 9th. And this is our annual tour that we've been doing for well over ten years. Except for last year, of course. And the format it takes is well there's an essentials talk, which are the essential things that you need to know about how to be safe out on the mountain in terms of avalanches. There are other dangers crevasses and glaciated area and falling and sliding. But the major major risk out there for off peace and touring is avalanches. So I cover the key points and accident reduction framework kind of approach in the essentials. And then I have some in depth talks as well on the science behind triggering and some other end up talks. But the really key stuff is in the essentials because when we look at victims and the facts behind avalanches, it was victims of avalanches, were not applying the basic things that you learned in avalanche. Basic avalanche, education. And we talked about basic avalanche education. I know that one of the things that you focus on and I think everyone should focus on is it's fine, having a transceiver. But you have to know how to use it. And many people just strap a transceiver on and assume that that means they're safe. You know, it can make it easier for you to be found, but it's no use at all if you don't know how to use it to be able to recover someone else. Exactly. And what I say is that it's science learning how to use it, not rocket science learning how to use a trans even. And in fact, with the evolution of the technology from analog to digital in the last ten, 15 years, it's much easier to find a buried buried victim. And we offer avalanche transceiver training in the UK and some great environments too, like sandbanks, sandbanks, beach, and various different beaches around the UK as well as Wimbledon common and up in Manchester and some similar types of environments. And what that allows you to do is get the basic training, at least for searching for a transceiver and not have to put that time in, take that time away from your skiing on the mountain. Of course, there's digging probing and digging in the snow that you need to follow up on snoke as well. But you know, we're starting with the equipment and the training. So I'll finish that off, but really they don't get to the really important part of it, which is prevention because the best rescue technique is preventing the avalanche accident in the first place. And since most people trigger the avalanche themselves, that is something that can be done. And is the most important thing to focus on. But so transceiver avalanche transceiver shovel and probe are the most important pieces of equipment to have, and you have to have all of them in order to get someone out from underneath the snow in 15 minutes or less, which we call a companion search and rescue or self contained search and rescue. Most people, the vast majority of people are alive once there. If they're taken in avalanche and buried, most of them are alive for the first few minutes, at least. After 15 minutes, about 70 to 80% of people are actually alive. That's after the first 15 minutes. After 30 minutes, there's only about 40 to 45% of people are alive. Why is that? Because most people, most people die from suffocating underneath the snow and happens really quickly. You can't rely on an organized rescue to get you out from underneath the snow. So you need to be everybody has to have this kit and transceiver shovel and probe and know how to use it. And there's probing techniques as well and shoveling techniques, not rocket science, but you need to take the time, you know, just a few hours to learn how to the basics on how to use it. Yeah, I mean, the equipment is evidently vital to have with you. Are you talking about accident prevention being the best risk strategy? In terms of that, you're trying to give people a greater awareness, for example, you mentioned before that people were skiing on pieces off piece that followed onto a cliff or followed onto a dip where snow could pile up. It presenting a danger, getting people to be more mindful of those elements. Yes, and what I encourage people to do is first look at the facts around what the problem is in terms of accidents, get to know what the problem is. And then you can seek to come up with the solutions or solve the problem. So first of all, in act, avalanche accidents over 9 90% over 9 out of ten people. So sort of 95% of all people who are caught in an avalanche, trigger it themselves. And 9 times out of ten or more, it's what we call a slab avalanche that's involved. A cold dry slab avalanche. And then also around in the accident, as I mentioned before, it's 15 minutes to live, basically, if you're caught and buried. So that 95% of people who are victims of avalanches actually having triggered the avalanche themselves really points to the fact that it's us who are the triggers and it's sort of in many ways. The biggest danger is ourselves. And other pieces of facts around a tour and that most accidents happen in December January and February and a north sides of the mountain contrary to the myth about accidents happening on the.
"avalanche" Discussed on Xtra Sports Radio 1300 AM
"You live from the studios here in Denver, Colorado tonight. The cover an avalanche, who are tied in the series at two games of Please play Game five of Round two. Of the Stanley Cup playoffs as they face the Golden Knights in Vegas. You can get into a lot of trouble over 48 hours in Las Vegas. But when the ABS travel to Sin City last Friday, it was a business trip. Colorado had a two zip lead in the series. They were looking to grab a win in Vegas and push the Knights to the brink of elimination instead. Vegas got a 32 win in Game three and then took it to the ABS in game number four. Smith gets it back, centering feed broken up by the stick a group our marshes. So what's happening? Directors? That line continues to be the nightmare and the avalanches nightmare Tonight will feature pack. They're all over the ice and t Mobile arena. 41 Vegas, Jonathan Marsh yourself with three of them. You know, you go back to that first game here. Game three. The ABS are up two games tonight. There are 2 to 1 inside of the last seven minutes, So it's a Let's kill off the rest of this game. Marshes self literally bounces one in from behind the net off of group hours, rear end And it's been a nightmare since Brandon Saad scored the opening goal of the game. But the Golden Knights reeled off five.
"avalanche" Discussed on 31 Thoughts: The Podcast
"In this series. Jeff how many times colorado the puck would be deep in their own song or behind even their own net and less than ten seconds later then scored and that's not happening anymore. They have slowed them up or disrupted them. And it's ninety minutes away where i look and see a ton of interference or a ton of missed penalties. They're just either overpowering number disrupting them or getting into the lanes. They're doing a really good indiscipline job against the avalanche. Thank you re galley beleaguered point to and showed some examples of it as well. Would vegas was doing really well On sunday night was every time colorado goddess zone entry. It didn't go anywhere like okay. Sure they would they would get the zone but then it would be a turnover easy exit for vegas and we're off to the races the other way. That was a really impressive performance. Now one thing. I wanted to get your thoughts on is on the The game tying goal marshes so goal. While are they thought it was in and then yeah everybody thought it was in so they all stopped it. But that's the key. Everybody stopped including the netminder. Brief group our keeps quote unquote playing. That probably doesn't go in now. Whatever happens subsequent to that but if you go back and watch it again grew just stops. They get a point as we all did except for vegas who kept playing as group our just sort of stood. There may be wondering to himself. Well how long it's gonna take to get this thing back to senate race for a face off now. They're all tied up once. It was just a really bizarre visual. Just seeing group our stop playing you just stopped instead of the top of his as the parkway past them one team captains composer other. Now i'll tell you. The biggest player in the series might right now be the independent arbitrator for the cadre suspension sham dot. Who by the way was the arbitrator who cut tom. Wilson suspension from twenty games to fourteen. And if you going back we talked about this last week but the way that bettman kind of wrote his own decision in this one he was kind of prepared for that look back at that particular ruling but they had the qadri hearing on friday. Who in all the ruling is gonna come any day. Now it's going to be huge. Qadri is two more games. The listing comeback as it stands is game seven that could be huge with the arbitrator decides to do. Does it not feel as if this series rate now boils down to one thing and that is whoever wins a game on the road. I is winning this series. Well i would say that except colorado doesn't need to do it they don't need to but you know what i'm getting at. Yes this is an interesting one. Shot thirty five eighteen series. I gotta tell you like you watch the colorado vegas series and you watch the montreal winnipeg serious. You almost wonder if they're playing the same sport. Whoa whoa i mean. One is played at a super high pace. Like we'll transition and talk about montreal winnipeg here. I mean montreal is quite brilliantly playing his style that neutralizes all the offensive. Weapons that the winnipeg jets have and they have many But vegas colorado like right from the opening puck drop it's a sprint. It is a sprint for both teams. Yeah let's get to winnipeg montreal now lead the series three nothing five to one is the final score what they go on dementia quickly before we get to the game man. How good was it to see. Gill aflou tonight phenomenal. And you'll be looks really good. he does. We were concerned about his health. Yeah he looks good. You look really good. Tandy looked relax all those guys. Did you know like who's always been in dynamite. Shape looks chisel but those guys they. They looked fantastic. You always wonder particularly because during this time. In general the people that covert is taken the most out of is the elderly right and these guys are all older guys and they looked fantastic. I love to see that love seeing yvonne corn wave roadrunner still. Maybe the best smile in the game. I just love the way that guy. So i don't know what that it sounds bizarre. I just love the way that man's miles. It just speak with joy. When i see von corn we smile but but gil aflou the one thing that all outside i mean the career is phenomenal. I mean one of the greatest players in the game ever have always admired boquila. Flir is how honest. He's always been and a lot of teams. Most teams have ambassadors past players that you know the the organization keeps around and it's essentially your job to be that player. Sure but the events show up at the rink and be that guy sign the autographs the the full routine and it's an ambassador role and players generally play it as ambassador you know. Give the team soft landing. Oh hey we'll get him next time. Oh you know. These guys are working hard. Gila flora has no time for that kilo. Flir speaks has always spoken his mind it whether he's an ambassador for the montreal canadians or not. Do you remember that series against the rangers after montreal about out and he came out he blasted like patrick ready vanik unsaid crunch time these guys quit and they roll up and just like disguised basset for the team. But i think thought to myself like if i'm a fan i wanna hear gila flirt talking like that i just you accept you accept people the way they are and i just love it tell gala florida quiet how you gonna win that one locally. You're not montreal. Wins the game. So we're doing the car cast. Obviously everyone can hear. And i'm driving the widow and there's this car of teenagers next to me and there's like five of another car and they're all blasting music and singing and they keep driving next to me. I feel like yelling to them. Don't you guys know i'm doing it. Car aston here they. Don't you know who. I think i am. I'm elliot friedman damage as scared to purple suit on tv five horns the final score. What's your takeaway from from sunday's montreal. Winnipeg game so. I got a really interesting call on on.
"avalanche" Discussed on Golden Edge - Vegas Golden Knights Hockey
"avalanche" Discussed on Bitcoin Radio
"Cedar and so in the scenario. Where's the economic incentive. Only the people who vote the correct color get get the reward. Is that if i say and really balloons the final color i lose out whereas the naked economic sensitive to pick the right color the economic incentives come from your your investment your stake in the overall overall system so to participate. What you need to do is you need to hold some of ocsta- kits so without that then are there are two problems one is. You don't have any skin in the game and the other one is that you can pretend to be you know brazilian janas and me and my friends will will get divorced by the presence of all these guys in santa hats and and every time we ask you you can then steer us in in any kind of direction so we need to make sure that you cannot overrepresented yourself and the way we do that is by by forcing you to acquire what we call a steak and so those things are at the roots of a of a security for for any blockchain of but also a for also for avalanche because avalanches proof of system. So i don't get why. Why is this system of the breaking it down into threes or whatever the focus may be why is that better than traditional proof of stake system. Where you're you know. People have the same economic incentive taking validated. Because if you try to use any other protocol other than avalanche of it will be slower than avalanches so long for example ethereal to is a classical protocol. It takes if it works next year sometime when it works. It's going to take five seconds to make decision and in every decision there will be up to at most two hundred and fifty nodes involved and more than likely it'll be fewer than there so so that's That's that's that's that's the best to come. It doesn't scale it's scales. What you're saying is that it kicked gives you the same security as all these proven other consensus with the scale ability. I so i don't remember off hand. You probably do but there was. I remember seeing is really high. Transactions per second in really quick transaction finality types exactly right so transactions per second avalanche are We've gotten in the lab numbers as high as nineteen thousand tps but now our system even as it is right now and in the wild. It's three times faster than visa. I never thought i'd be able to say that nobody else can see. This finality is less than a second. It's about three hundred milliseconds. Which is a slow. I blinked so at the time i do this. The whole system globally across the world involving knows in australia. Russia shine a europe at cetera makes a decision. It's insane how fast it is and you can't get these speeds of while the any other protocol and The other thing to note of course is it's open. Any number of people can participate. So that's that's put puts it in a different class. So i can have millions of participants in the avalanche berlin coal and nobody else can get anywhere close and for having an honest conversation we can only focus on on the incredible pros..
"avalanche" Discussed on Bitcoin Radio
"Twenty twenty. The following interview was broadcast in december of twenty twenty as part of our version. five point. oh conference welcome back to reimagine twenty twenty hawk average day. I'm glad you joined by mutant severe founder and ceo at avalanche and offs professor. Computer science at cornell. Thanks so much joining us. Thank you so much for having me on all right. Well it's it's great to have you for those viewers of ours. Who who might not be familiar with who you are. You wanna give a little background kind of you who you are and how you got into blotchy store of very quickly. I got into blockchain way before it was a thing way before the term was coined in two thousand and one thousand two. I started building a system called karma so that's seven years or six or seven years before bitcoin. i was working on a cryptocurrency proof of work. Minting in it's i believe it's the first cryptocurrency that minted coins via proof of work. So was doing something. She like things before though she was around except you know he came along six years later he improved on On a substantial portion of of what i had worked on You didn't know about my work. That's okay all the academics about my work. In case so when bitcoin start going big i looked into that further call. I found a with all of the post. Doc at cornell i worked with on for this or we found the biggest known flaw in subtle. She's consensus for something called selfish mining a scheme by which you can make more money than your fair. Share is a minor in bits going. After that i worked on the safety of coins at rest of with things. Like covenants are i worked on All of other things. layer two protocols on characterizing scale ability on characterizing decentralisation but most recently the most exciting thing that i've been working on is for the last few years i've been working on the new system called avalanche and at the core of avalanche lies a new consensus protocol. The likes of which has never been experimented with before that is a far far faster than everything else and we just went main that with avalanche about two months ago with a coin cold of ox and i'm i'm having a blast And my goal now is to just work up the layers to show the world of equivalent breakthroughs at every layer of the stack. Both the consensus layer the da- player and the layers of so. It's been a fun ride for me. Well it's quite quite the resume you have there and before we dive into what you're doing now and where you'd gotten let's talk about where you came from. You mentioned that you had a karma that was two dozen that was before even she before bitcoin and you mentioned he made some improvements upon and i just wanna ask know what..
"avalanche" Discussed on KOMO
"North Bound I five on and off ramps to 2/20 are also closed for road work until about 4 30. I'm J. Phillips, Cuomo 24 7 traffic Shannon O'Donnell as you are, Komal forecast. Everybody has promised. It's been a pretty messy Tuesday out there lots of high water ways from the river flooding because of the atmospheric river in the sky. A lot of that heavy rain. Riding through again tonight into Wednesday morning before it wraps up on Wednesday afternoon. So level tonight 68,000 ft Sky High, but it crashes down to about three or 4000. Ft. Is things normalize on Wednesday? Regardless, it'll take a while to clean up. The rivers have to go back down. The landslide risk remains high. And if you're doing some skiing avalanche danger, Elrond hide the next couple of days as well in the couple Weather center, I'm meteorologist said No. Donald is our 56 degrees with heavy rain in the forecast, we should be prepared for more herbs. Flooding and increased avalanche danger in the mountains. Almost see Romero has more. Our region has already been soaked with heavy rains and now Carly Kabbah Chick with the National Weather Service in Seattle, says that's expected because river flooding Bring an elevated landslide threat and also lead to localized urban of small stream flooding. And now avalanche danger has been added by the Northwest Avalanche Center, ConvergEx says. What's not known is the full extent of what the river flooding will be. But she does say rain should taper off Wednesday. Romero come on use State Department of Natural Resource is out with the budget proposal that is hope to reduce the impact of wildfires. Deion Our commissioner, Hillary Frances. The money would be used to pay for firefighters clearing out overgrown forests and to help communities recover from fires, asking the Legislature to fund this account with $125 million each biannual. By any means every two years, allowing our state to finally have the resource is we need to prevent and respond awhile. First Frances wildfires and more frequent, intense and now affect both Eastern and western Washington with less state Legislature now considering the proposal Washington State Patrol confirms there are known threats one day after the FBI warned about potential unrest at all 50 state capitals leading up to the president elect Joe Biden's inauguration. Update from comas. Michelle Esteban would talk to State Patrol spokesman Chris Lofted..