40 Burst results for "Billions Of Dollars"
Mark Levin
Bidenomics Is Trying to Persuade You That Things Are Going Well
"And his talking had this guy Kirby, who is a fraud complete and a phony. They're trying to persuade you that are things actually getting better, that things are working out just well. They're not working out just well. And so what do you take from They this? are completely detached from what goes on in your life in anybody else's life. And they're going to spend hundreds of millions of dollars, maybe up to a billion dollars, to persuade you that Donald Trump is Hitler, that Donald Trump's going to destroy democracy, that Donald Trump's going to create World War III. And conversely, open the border's because of Donald Trump. And but for Donald Trump, we'd be in World War III. And but for Donald Trump, food prices would be down and they are going to work it, work it, work it. Now, if they can call him Hitler, I guess I can call them Goebbels, right? Yeah, I think so. The Democrat Party. The Goebbels Party. Goebbels Party. Why not? Rock is in, I mean, I guess, if I guess the we Third can all talk that way.
BTV Simulcast
Fresh update on "billions dollars" discussed on BTV Simulcast
"Take a listen. We think the Saudi Arabian market is a rising star, is a new source of growth. So as you just heard, that's a very deliberate choice of market going for Saudi Arabia. They really like the growth prospects of the kingdom, they really like the exchange that exchange the is carrying out. A billion dollars has been committed so far and we understand that it's Saudi Arabia's public investment fund. They are the leading investor in this, we just don't know exactly how much they've committed to that at this point. Jen, of course, I did ask Dean Shen in the interview but on that topic at all. Well, at least you gave it a go, Annabelle. Thanks so much for your time. Bloomberg's Annabelle rulers in Hong Kong for us. Thank you so much. And turning now to some other news that we got overnight. Berkshire Hathaway has announced the death of longtime vice chairman Charles Munger. He was 99 years old. Warren Buffett honored his right -hand man who helped turn Berkshire Hathaway from a failing textile maker into an empire saying, quote, Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom and participation. A lawyer by training, Munger helped Buffett craft a philosophy of investing in companies for the long term under their management. Berkshire averaged an annual gain of 20 % from 1965 through 2022, roughly twice the pace of and the S P 500, making the pair billionaires and folk the Bloomberg Business and Sports podcast where the money is flowing inside sports around the globe. Balance of power in F1 might be shifting. We take a look at mixed martial arts. Who is the next U .S. emerging rugby star? Michael Barr, Scarlett Fu and Damien Sessauer take you outside the decisions that power this multi -billion dollar industry. We talk tech and golf. Bloomberg Business of Sports. Subscribe today on Apple, Spotify and everywhere you get your podcasts. Bloomberg Radio. Context changes everything. When Wall Street is waking up, Europe is already trading. Brief Bloomberg Brief brings you the news, data and analysis you need to set your agenda. Micro, macro and everything in between. This is Manus Granny in New York and
The Plant Movement Podcast
Nasir Acikgoz's Advice to the Next Generation: "Everything Is Achievable"
"For you being someone that touches so much that is powerful at the end of the day that can make things happen You've overcome so much being a immigrant with a dream and a vision not knowing whether you would be where you are here today You know doing what you're doing today and just going after it becoming fearless conquering so much You know having God guide you and on this path knowing that things happen for a reason Even if it might not be the way you wanted it to be it happened for a reason just like in finance I don't want to take this course But now you do you know what a P &L is and you can look at it and see if you guys are losing or winning What do you see for the future of the green industry and you know the youth when it comes to just you know? Your path and your career and what you've been able to do and how you're still gonna be able to do more What do you see for the green industry and the youth? What would you have to say to them youth like their new? Younger generations or even people that are that are sitting on the sidelines of going after something that they think is unachievable Everything is that you will you put in your mind Watch once you set your mind to it you work again You know, first of all, you got to believe in God God gives you a talent. I give God sees everybody talents You got to find it And you put something in your mind you work you wake up in the morning you dedicate yourself Into it work hard, but well, you gotta work hard because some people say I'm doing this and I'm working but it's not happening Then that means you didn't work, you know, you didn't work or it's not what you're supposed to be. They're supposed to me And it'll happen in in the green industry and the youth what I would say is You have an idea Try it say look. You know what? I want to Do it in your mind, obviously you have to do it and you have to draw, you know draw what how you want to do it get the first prototype or or first production depending on the products and in like I said in you know, you know beginning of the pop kit a podcast that it's The opportunities are limitless. There's no limit. So it's gonna happen. Believe me it If it's a product you put it out there With the right time right person right platform people will see it and they're gonna start buying it Or a service again. It doesn't have to be a product. It could be a service and And they're gonna start using it. So Again, the green industry. I love it You know, like I said, I start as a hobby, you know a side business, you know for one of my tile businesses but it became a an addiction to me and and And it's it's a you know, I'm like, I'm like, you know what? It's a good business. It's a huge business And there's no limit. There's no I would say oh you can't there's no you can't do this in this business. You can do anything you know with plants with rocks with Synthetic turf now, you know everything with everything who would have thought we're gonna have synthetic turf back there Maybe would have left a huge movement I don't I don't know what that that industry is now, but it's gotta be over a billion dollar industry at this point It's billions of dollars right now Yes And in other states actually they're building like coffee shops kind of thing like you go there some brand names that came out you go You know, the products are out there. It's like a boutique you pick the product you have your drink Yeah, the coffee or whatnot. You're like talking to the people and at the same time you're purchasing it. It's So people came out with the idea and they they didn't think it's not gonna work out and it worked out for them Maybe it took a while to adapt to that, you know product into the industry or the service But if you think it's gonna work and you did your research, right? It's gonna work and it's gonna happen So never say never never say I can't do it Never say this is not gonna sell never say people will not call me for this service People will not call me for this product if you believe in yourself believe in the product Obviously first you got to believe in God, you know, it's gonna all all happen even even if you guys are going to school right now and you're like man the Industry that I picked, you know people in my in my niche of what I'm gonna go study They only make sixty thousand dollars a year. That doesn't matter. That means that they make sixty thousand dollars exactly There's you know you can you can Get in that same Ballpark and blow it up and become something so much more do something impactful that can touch the whole industry and this industry Did thirty six point four billion dollars the plant industry for the state of Florida last year alone for 2023 It was the strongest year. Well, no 2022 was the strongest year Out of all the years, but the fact that it was done and that's just in plant sales 6 .4. Yeah billion dollars for Florida imagine only
WTOP 24 Hour News
Fresh update on "billions dollars" discussed on WTOP 24 Hour News
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Coronavirus
A highlight from Safe Introduces Google Sign-In
"Welcome to your Ethereum news roundup. Here's your latest for Monday, November 13th, 2023. SAFE introduces Google sign -in, Avid restores affected v2 and v3 markets, EtherFi's eEtherLST goes live on mainnet, and Brave integrates sign -in with Ethereum. All this and more starts right now. SAFE introduced support for social login, allowing users to deploy smart accounts on Gnosis Chain using only their Google account. Gnosis Chain is sponsoring the gas fees for account deployments. The process of creating a SAFE account takes less than a minute and eliminates the need for a seed phrase. Gnosis Chain is also sponsoring up to 5 transactions per hour over the next month. SAFE plans to extend social login support for additional chains. Once a smart account is deployed, users can enhance their security by adding more wallet addresses as signers for their multisig configuration. To access their wallet, users simply need to sign in with their Google account. SAFE is the largest smart contract wallet provider, having secured over 40 billion dollars in assets. The Avid Community Guardian has restored the AVIDv2 Ethereum market, along with select assets in the AVIDv3 Polygon Arbitrum and Optimism markets. The markets were temporarily paused last week after a confirmed security vulnerability was reported. During the freeze, users were still able to repay and withdraw their positions. A liquidation grace mechanism was also implemented for further protection. Following the Avid DAL's approval of a corrective update, which was implemented earlier today, normal operations have resumed in both v2 and v3 markets. Users can now carry out deposits, withdrawals, and position repayments as usual. EtherFi's liquid restaked token, eETH, is now live on mainnet in a beta release. Users who registered for the whitelist are eligible to mint eETH against Ether deposits. eETH is natively restaked on Eigenlayer, offering boosted yields for liquid stakers once actively validated services become operational. The whitelist remains open for new signups. Users who engage in early mainnet staking can also earn loyalty points. EtherFi intends to expand eETH minting to all users at a future date. It also plans to integrate eETH into various DeFi protocols, including Balancer, Aura Finance, Gravita Protocol, MAF Protocol, and Pandal Finance. Brave integrated sign -in with Ethereum and CalSwap functionality into its browser wallet. The update allows Brave Wallet users to securely sign in when interacting with third -party dApps. The wallet now supports advanced parsing of ERC4361 messages to enhance message clarity and protect users from phishing attempts. The CalSwap integration facilitates castless message -based swaps. Users can specify their trading intentions off -chain using signed EAP712 -typed messages, which enable the signing of structured data rather than ineligible byte strings. The latest features are available in version 1 .6 of the Brave browser. And lastly, Ryan Wyatt, the former president of Polygon Labs, has taken on a new role as the Chief Growth Officer at Optimism. Wyatt left his position at Polygon just four months earlier in July of this year. Prior to Polygon, he was the head of gaming at YouTube. According to Decrypt, Wyatt is set to steer Optimism Unlimited, a newly formed subsidiary focusing on partnerships and marketing. In other news, LAN's protocol introduces embeddable smart posts, Foresight Ventures acquires a majority stake in the block, Sysink introduces its alpha release, and Raft publishes a beta post -mortem on its exploit. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io. Thanks for listening, we'll see you tomorrow.
WTOP 24 Hour News
Fresh "Billions Of Dollars" from WTOP 24 Hour News
"This is a work zone where they're going to start doing up 30 minute total stoppages between midnight and 3 a .m. tonight so plan ahead for that. Rich Hunter, WTO traffic. All right now let's check the forecast to 7news first alert meteorologist Steve Rudin. Clear skies cold temperatures this evening and into the overnight with temperatures dropping to around 20 degrees will see wind chill factors in the single digits and teens by early tomorrow morning mostly sunny and breezy on your wednesday a wide temperature spread between 35 and 45 degrees wind gusts upwards of 20 miles per hour milder air overspreads mid the -atlantic mid on thursday we're in the 50s better chance for showers during the day on friday could linger into early saturday i'm 7news meteorologist steve rudin and the first alert weather center temps are chilly tonight 27 dupont circle 25 in germantown and 27 degrees in annandale the forecast tonight is brought to you by on long fence decks pavers and fences six months no payment no interest financing terms and conditions apply go to long fence dot com money news at ten and forty past the hour on top this is a bloomberg money minute a little late buying left stocks with small gains the main averages rose less than a third of a percent now industrials added eighty four the s and p rose for the nasdaq climbed forty one cyber monday lived up to the hype adobe analytics reports u u s shoppers spent a record twelve point four billion dollars online yesterday up nine point six spent from last year consumers remain
Ethereum Daily
A highlight from Safe Introduces Google Sign-In
"Welcome to your Ethereum news roundup. Here's your latest for Monday, November 13th, 2023. SAFE introduces Google sign -in, Avid restores affected v2 and v3 markets, EtherFi's eEtherLST goes live on mainnet, and Brave integrates sign -in with Ethereum. All this and more starts right now. SAFE introduced support for social login, allowing users to deploy smart accounts on Gnosis Chain using only their Google account. Gnosis Chain is sponsoring the gas fees for account deployments. The process of creating a SAFE account takes less than a minute and eliminates the need for a seed phrase. Gnosis Chain is also sponsoring up to 5 transactions per hour over the next month. SAFE plans to extend social login support for additional chains. Once a smart account is deployed, users can enhance their security by adding more wallet addresses as signers for their multisig configuration. To access their wallet, users simply need to sign in with their Google account. SAFE is the largest smart contract wallet provider, having secured over 40 billion dollars in assets. The Avid Community Guardian has restored the AVIDv2 Ethereum market, along with select assets in the AVIDv3 Polygon Arbitrum and Optimism markets. The markets were temporarily paused last week after a confirmed security vulnerability was reported. During the freeze, users were still able to repay and withdraw their positions. A liquidation grace mechanism was also implemented for further protection. Following the Avid DAL's approval of a corrective update, which was implemented earlier today, normal operations have resumed in both v2 and v3 markets. Users can now carry out deposits, withdrawals, and position repayments as usual. EtherFi's liquid restaked token, eETH, is now live on mainnet in a beta release. Users who registered for the whitelist are eligible to mint eETH against Ether deposits. eETH is natively restaked on Eigenlayer, offering boosted yields for liquid stakers once actively validated services become operational. The whitelist remains open for new signups. Users who engage in early mainnet staking can also earn loyalty points. EtherFi intends to expand eETH minting to all users at a future date. It also plans to integrate eETH into various DeFi protocols, including Balancer, Aura Finance, Gravita Protocol, MAF Protocol, and Pandal Finance. Brave integrated sign -in with Ethereum and CalSwap functionality into its browser wallet. The update allows Brave Wallet users to securely sign in when interacting with third -party dApps. The wallet now supports advanced parsing of ERC4361 messages to enhance message clarity and protect users from phishing attempts. The CalSwap integration facilitates castless message -based swaps. Users can specify their trading intentions off -chain using signed EAP712 -typed messages, which enable the signing of structured data rather than ineligible byte strings. The latest features are available in version 1 .6 of the Brave browser. And lastly, Ryan Wyatt, the former president of Polygon Labs, has taken on a new role as the Chief Growth Officer at Optimism. Wyatt left his position at Polygon just four months earlier in July of this year. Prior to Polygon, he was the head of gaming at YouTube. According to Decrypt, Wyatt is set to steer Optimism Unlimited, a newly formed subsidiary focusing on partnerships and marketing. In other news, LAN's protocol introduces embeddable smart posts, Foresight Ventures acquires a majority stake in the block, Sysink introduces its alpha release, and Raft publishes a beta post -mortem on its exploit. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io. Thanks for listening, we'll see you tomorrow.
Live From Studio 6B
Fresh update on "billions dollars" discussed on Live From Studio 6B
"If this is your situation, well Tax Network USA is here to help. Tax Network USA, a prominent tax firm, has helped clients save over one billion dollars in back taxes. Their team of expert tax attorneys specializes in managing a range of tax issues, from reducing debt to resolving unfiled returns and protecting your assets from IRS actions. Whether you're dealing with a tax debt of $10,000 or as high as $10 million, Tax Network USA approaches each case with individualized attention and care. They understand the stress and the worry that come with tax problems and are dedicated to providing the support and guidance you need. If you're feeling overwhelmed by tax debt or anxious about IRS intervention, don't wait. Contact Tax Network USA for a free consultation right now. They're ready to assist you through these challenging times and help secure your financial future. Call Tax Network USA today at 1-800-546-1000, that's 1-800-546-1000 or visit taxnetworkusa.com. Don't let taxes worry or dominate your life. Help is just a call or a click away. They go to taxnetworkusa.com, taxnetworkusa.com or call 1-800-546-1000.
The Café Bitcoin Podcast
A highlight from U.S. Economy from "stable" to "negative" with Neely Tamminga + Preparing for the Upcoming Bull-Run with Joe Carlasare and American Hodl - November 13th, 2023
"Hello, and welcome to the Cafe Bitcoin Podcast brought to you by Swan Bitcoin, the best way to buy and learn about Bitcoin. I'm your host, Alex Dancic, and we're excited to announce that we're bringing the Cafe Bitcoin conversation from Twitter Spaces to you on this show, the Cafe Bitcoin Podcast, Monday through Friday every week. Join us as we speak to guests like Michael Saylor, Lynn Alden, Corey Clifston, Greg Foss, Tomer Strohleit, and many others in the Bitcoin space. Also be sure to hit that subscribe button. Make sure you get notifications when we launch a new episode. You can join us live on Twitter Spaces Monday through Friday, starting at 7 a .m. Pacific and 10 a .m. Eastern every morning to become part of the conversation yourself. Thanks again. We look forward to bringing you the best Bitcoin content daily here on the Cafe Bitcoin Podcast. All right, good morning to all of you Cafe Bitcoiners. It is Monday, November 13th, and you guys can probably hear my slack snapping off here. Let me mute that shit. Sorry about that. Monday, November 13th, 2023, and it is another awesome day. Looking forward to the week in Bitcoin. Once again, why are all these Bitcoiners so goddamn excited all the time? It's disgusting. What's wrong with you people? You know, I remember when you first started doing Spaces, Alex, and this is before I had extensive experience with Slack, and I could hear it going off all the time in the background. Every time we were having those Spaces discussions in the morning, I was just like, what in the hell are you picking up? My fault. My bad. Morning macro. Oh, sorry. How's it going, guys? I hope everybody had a good Veterans Day weekend, too, by the way. It was fantastic. I worked my ass off. That's all right, though. Good stuff. Good stuff. Good morning, Terrence. Bright and early. On a Monday at like 7 o 'clock in the morning. What's wrong with you people? Macro. Good morning, Peter. Good morning, Jacob. Shout -outs to Dr. Jeff, Joe Carlosari, in the audience. Obviously, we're throwing you guys invites, but you're welcome to just chill. Whatever. It's all good. So apparently, Bitcoin has taken a slight pause from its vertical acceleration and Bitcoiners are attacking each other once again. That didn't take long. Anyway, welcome to Cafe Bitcoin, episode 475. Shout -outs to our supporters on Fountain and Nosternes. By the way, when I say signal, I'm not trying to say it's just my signal. We're looking for the signal. Some people are like, eh, never let us on stage at Cafe Bitcoin. It's an opinion, all right? It's an opinion. It's an opinion. If I don't think your signal is that great, then maybe we might not let you on. I'm not sorry for that. Like we're here to provide signal. And yeah, it's a judgment call and yeah, you might think your signal is more important and that's fine. I'm not mad at that. I'm not even judging you. In fact, here's, Jacob and I were just talking about this earlier. I don't even disagree with you on many things. Some people are like, well, this issue is really important. You guys don't talk about it. It's like, it is really important. Totally agree with you, actually. What I don't agree with is complaining about stuff that you have no solution for, or if you're not building a solution for something. Like if you're building something and it's a solution, we will invite you on this stage and you can talk about it. But if all you're doing is whinging and complaining, like why are we going to waste everybody's time with that nonsense? Am I wrong? Am I out of line here? Serious question. No, you're not out of line and whinging is a good word. I think more people need to use it. Yeah, mewling. I love that word too, mewling, whinging, meh, meh, um, okay. Good morning, Mickey Koss. For today's show, we're going to talk about, apparently BlackRock is launching an Ethereum ETF, or they're applying to anyway. We're going to do a spot Bitcoin ETF approval update this week, maybe. And Joe Carlosari is welcome to come up here and give us his views on that. Otherwise we'll just read his tweets out loud. I got no shame with that. What else? Oh, ICBC, which is one of the largest banks in China, was apparently cyber ransomed last week. That's a thing. So maybe we'll talk about that a little bit. Here's an interesting little factoid. Every $6 ,313 move above $29 ,586 is a billion dollars for micro strategy. Wow. Well, indeed. But the naysayers are going to say every $3 ,360 move down is minus a billion dollars for micro strategy. I was just about to say, I could see the articles now as it drops from $100K to $95K, they'll be just, you know, slamming micro strategy. Meanwhile he's sitting there like up thousands of percent. It's completely absurd, but it'll continue. Just buy Berkshire Hathaway. It's better than Bitcoin. Anybody can buy it. Are you slamming Dear Point? No, I would never do that. Nate, you're so crystal clear this morning. You must be stationary and not driving anywhere. I'm using the updated desktop. They've improved it dramatically. And you aren't driving anywhere. That too. You can't raise your hand, but it is working pretty well. Okay. Question. Are you on Windows or Mac? I'm on Windows 10 or 11 and I forget what number it is. You can't raise your hand on Mac either. You can't raise your hand and can you do emojis? I can do a lot of emojis. A lot of emojis, wow. Like a thousand at a time, apparently. So are you retired now, Nate? For the most part, yeah. I love your story, man. For those of you who don't know, Nate's been hanging around, you know, he's been coming around Cafe Bitcoin for a couple of years now and back in the day, since it started and back in the day, back in them, Nate used to roll around as a, as a truck driver, if I understand correctly, saving his money, stacking sets, man, no, I, I, the reason I people double to check whatever wallet you plan on using and do never, ever, ever, ever enter your keys into a digital device that is connected to the internet. We've seen a string of new apps on these app stores like Apple and Google that pretend to be existing wallets that are only available on the desktop. They are not legit. There's a, there is a new string of them. This was brought to everybody's attention by Oscar P at O S C Pacey and there's a new Electrum wallet on the app store Electrum doesn't have a mobile app and there's all kinds of other apps Lumi, samurai wallet, Jack's Liberty, Jack's Liberty wallet management Phantom wallet of a protocol assets trade sparrow was spoofed the other day, these apps, there's no mobile app that you should be using with your seed phrases from any existing wallet that you're using that holds any significant amount of Bitcoin. If you happen to use a hot wallet, use a fresh, use a hot app, wallet, whatever. If you happen to use one of these devices, make sure you're using a brand new wallet that it has generated. And you're only going to use minimal amount of Bitcoin. If should you do it like if you're going to take cash and you're going out for the day, that amount of Bitcoin, not, not thousands and thousands of dollars or even your, your stack that these people are unscrupulous, they have the morals and they do not care. They want your Bitcoin. Please be careful. And even with sparrow, there are methods that you can verify that the app is legit. And I, I, I can put a link in the nest. I don't want to populate it yet, which it's cool with Alex. And super easy to do because I'm a boomer and I did it yesterday. Like super easy. It's a one, two, three, I think four steps. It involves your terminal and just copy and paste. Yeah. Yeah. There's, there's a, there's a path or an FAQ on how to do it on sparrow. Once, once you go to download it, it's how to verify right below it. So please take the time to learn. Um, yeah. And don't lose your Bitcoin.
Bloomberg Daybreak Asia
Fresh update on "billions dollars" discussed on Bloomberg Daybreak Asia
"Moguls are selling was two billion dollars in stocks in the las vegas sands corp because they're funding a purchase of a majority interest in a professional sports franchise what we've now learned is that franchise is the dallas mavericks now cuban mark is the owner he is selling majority stake in the club but he will continue to be running the club although he's going to be a minority owner the calves were bought by cuban for 285 million dollars in 2000 they're valued at over four billion dollars now the adelson purchase just about two billion he's at a valuation of about three and a half billion dollars at the champions league group stage action it was psg getting a penalty from killing embape
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1459: THIS Is Why BlackRock Is Betting So BIG On Bitcoin
"In today's show, I'll be breaking down the latest Bitcoin technical analysis and quoting the high priest of Bitcoin, Max Keiser. If Michael Saylor move micro strategy to El Salvador, the tax break would allow him to buy more, much, much more preach. Also in today's show, FTX files a billion dollar lawsuit against Bybit over asset withdrawals. I'll be breaking this down for you, as well as former Goldman Sachs executive Raoul Powell says Ethereum is about to outperform Bitcoin as crypto enters late spring. We're also going to be discussing crypto analyst as Bitcoin is flashing a signal that previously sent Bitcoin on a rally over 400 percent. Send it. Let's freaking go. We'll also be sharing the big question with the Bitcoin price action hit one hundred thousand dollars by twenty twenty four. I'll be sharing with you the potential drivers to turn this to a reality. We're also going to be discussing why BlackRock, the world's largest asset manager, is betting so big on Bitcoin. Also, Michael Saylor was just recently asked during his November 10th speech at the twenty twenty three Australia Crypto Convention to provide his prediction for Bitcoin regarding the price trajectory over the next coming years. I'll be breaking this down for you. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show.
Coin Stories with Natalie Brunell
A highlight from James Lavish: Disaster in Bond Market Auction, Chinese Bank Hack, Bitcoin Price and ETFs
"It was ugly. I mean, it was a wake up call. And if you don't think that the Treasury was scrambling around wondering what the heck is going on, you're crazy. Hello, and welcome to the Coin Stories podcast, where we get to explore the future of money, business, technology, and Bitcoin's revolutionary promise to boost economic prosperity around the world. I'm Natalie Brunell, and I'm here to learn with you. This podcast is for educational and entertainment purposes only. None of the discussions should constitute as official investment advice, and you should always do your own research. Please make sure you're subscribed to the show and hit that notifications button so you never miss out on any new episodes. This show is made possible and the content is free thanks to partnerships with companies I trust. And I'm very picky about who I choose to partner with. So I hope you take the time to listen to the ad reads throughout the show. Thanks for joining me. And if you're watching this on YouTube and want to see more videos like it, make sure to hit that like button. All right, it's time for the show. The debt spiral is accelerating. Welcome back to the show. I'm doing a last minute episode with macro analyst James lavish, author of the information as newsletter. James, thanks so much for joining me. Oh, it's great to be here. Natalie, always good to talk to you. Well, before we go into this disastrous 30 year Treasury auction, which I want to learn all about, let's start with what happened last week because the Treasury made an announcement about how much it's going to need to borrow. So why don't you fill us in on that first? Yeah, so the Treasury has to have this refunding every single quarter and they announce what they're going to do. They kind of give the market a signal so people can prepare. The investors can can can get ready for the auctions that are going to be kind of coming up. And so last week there was there was the Fed was talking. They were giving their their decision on the rates. And on the same day, the Treasury was giving this release or going to release this information to the street and tell them what the plan was. Well, it was it's been so important. What's been going on in the US Treasury is that almost all of the spotlight was on this on Wednesday. It was not on Powell for the first time in a very long time. As you know, you've been you've been watching this for a while. And and so it was it was pretty surprising. But in reality, it's not that surprising to people like me and some other investors who have been watching the bond market pretty closely recently. And what happened was they announced that they were going to borrow seven hundred and seventy six billion dollars, a few billion dollars less than the market expected. That's number one. And so the market fourth quarter. Right. That's the fourth quarter. And so the market got took that is OK. That's that's good. So maybe they have spending under control. But just remember that we are running a two trillion dollar deficit right now. So that's that spending is not under control. But the second thing they did is they announced that they would be borrowing on the shorter end of the curve. They would continue to be putting out T -bills and shorter term notes so that they would be able to draw capital out of the reverse repo facility. We'll talk about that in a minute. But basically, they were saying they're going to be borrowing on the short end of the curve, not as much on the long end of the curve, like they're not going to be borrowing at first. They're not going to be issuing 30 year bonds, quite as as many of them as the market expected. In reality, they announced they were going to borrow another twenty three billion and or twenty four billion. And the past auction was like twenty three billion. It's in line with and maybe a little bit less than what the street expected. Remember, everything that the market works around expectations. You've seen this happen all the time. If a company comes out with dismal earnings, but they were a little bit less worse than people expected, the stock could actually go up. It's just the way that the street works.
CoinDesk Podcast Network
A highlight from THE PROTOCOL: Krakens Potential Layer 2 Development and Coinbases Influence
"Dive deep into the blockchain realm with The Protocol Podcast with Coindesk founding editor of The Protocol newsletter Brad Count and tech journalists Sam Kessler and Margo Nykerk. They unravel the intricate technologies powering cryptocurrencies like Bitcoin and Ethereum one block at a time. Just a reminder, Coindesk is a news source and does not provide investment advice. Hello and welcome to The Protocol Podcast. I'm Brad Count here with my co -hosts Margo Nykerk and Sam Kessler. Please first don't forget to subscribe to our weekly newsletter The Protocol on Coindesk .com. And real quick, let's just take a second. We've got Sam Kessler here. He's actually missed a couple of our recordings over the past few weeks because he was down covering the Sam Bankman free trial, which is a story that Coindesk owns. Or we did break the story that led to the ultimate collapse of his business empire. Sam, you've been down at this trial and just like getting up at what, like 3 a .m. to get in line to get in the courtroom. Tell us what has it been like covering that trial? Yeah, it was a crazy experience. I'm glad to kind of be back to my normal life. Like you said, some days you had to wake up as early as 3 a .m. Somebody showed up at 10 p .m. the previous evening once to see Sam testify. I was not that crazy. I can only do that a few times the early day. But anyway, overall, it was a pretty insane experience. And yesterday we did sort of a panel with Coindesk reporters, four of the five Coindesk reporters who have covered this throughout the month long run of the trial to hear from members of the crypto community about questions they had and reflections on what was going on. And one of the questions that we received was around whether this trial was, in fact, the indictment of the cryptocurrency industry that everybody in the mainstream seems to frame it as. Or is this kind of this anomalous thing that exists outside of crypto, particularly because FTX was a centralized exchange? The question being, why did it feel like such a big deal? And I think the place where we all landed, like why this got the sort of breathless coverage that it did is because there is a difference between the crypto technology and the crypto industry. And I do still feel and I think those the folks who joined me on the panel agreed that this whole thing, even though it doesn't say much about the technology that undergirds all of these projects that we talk about on this podcast, this whole fiasco was an indictment of the crypto industry. The money, the attention, the focus, you know, the panels that people are willing to go on with Sandbank Manfried all just go to show that it does matter. The companies and the folks who we associate ourselves with cover. I mean, media plays a role in this, too, regardless of whether it has anything to do with the core blockchain technology itself as a centralized exchange in this case. That's super interesting, Sam. I mean, one thing I would just add, you always see giant frauds around new technologies, right? I mean, it's just like inevitable. People are always taking advantage of the opacity and the incredible, complicated stuff. And I mean, we see it all the time. But it's just stuff so hard to understand that it's pretty easy to like pull the wool over people's eyes. You know, I mean, I think we can talk a little more freely about this now that he's convicted. Anyway. OK, well, thank you, Sam. We're so glad to have you here. All right. Let's get right into it now, as we say, with the latest news and developments in technology behind crypto and blockchains. In our first segment, we will be talking about Arbitrum's governance. Of course, Arbitrum is the biggest layer two network atop Ethereum. Margo covers them all the time and they are super interesting project. But Sam, you know, this story you wrote yesterday focuses on some dissension in that community. Why don't you just give us a little brief overview of what that story is? Yeah. So like you said, Arbitrum is one of the people that I might be aware, I might remember last spring when they switched over to a decentralized governance model. So they made this big shift where they launched a token ARB and allowed holders of that token to be a part of something called the Arbitrum DAO that would govern the protocol. And the thing that we're seeing here is a nod to the growing pain, one of the growing pains that we see with all decentralized autonomous organizations, which is the difficulty of reconciling the need for decentralized governance, vast networks of people governing these protocols in like the spirit of crypto, with the reality that you need some somewhat centralized or at least professionalized decision making expertise in order to guide the direction of these really important platforms. Arbitrum has, you know, over two billion dollars locked in it as of today, if I recall correctly. But anyway, in this specific case, Arbitrum's community is currently grappling with a proposal to introduce a research coalition that will be helmed by BlockWorks Research, the research arm of the media organization, Gauntlet, a risk firm and one other cybersecurity firm that's not as specific to crypto. And those folks will kind of serve as this guidepost for the wider DAO to make its decisions. And there's been a lot of controversy around how much they'd be set to get paid under the proposal that BlockWorks presented in conjunction with these other. Let's just, Margo, what were your thoughts reading this story? So, well, two things. I sort of want to know what's in it for BlockWorks. Like, why are they putting themselves forward in this kind of proposal? But also this sort of like what Sam was alluding to drew us back to last spring when there was a controversial proposal about the DAO and there was like a ratification and they started transferring tokens before like that period had even ended. So I feel like ever since that happened, there's been a lot more attention on the DAO and like the proposals it puts forward. So there's always these controversies around DAOs and like the grapple they have to do with centralization and decentralization or professionalism in that case and having some kind of an authoritative figure that will make decisions. And so I wonder if we're looking at this more with a critical eye because of what happened six months ago and because we've sort of seen some controversy with the Arbitrum DAO. But I don't know, what are your guys thoughts on that? So it's a really good question. So that event that you're talking about was essentially when the DAO was established, there was also this foundation that was established, the Arbitrum Foundation. And you see this set up a lot of times where you have a foundation, you have a centralized company that builds a product, and then you have a DAO. The foundation kind of straddles the middle where it's like a real incorporated entity. But anyway, the foundation was suddenly granted a bunch of tokens from the initial mint of ARB. And members of this new DAO who had also just been airdropped a bunch of tokens were like, whoa, wait a minute, we didn't really have a formal vote on where those tokens should go. So it essentially looked like what it was, which was the people who initially created the blockchain granting a bunch of tokens to this foundation, which people think had some links to the old organization, the firm that ran things. So the chief irony here is that the whole idea of a DAO and the whole idea of this specific proposal is to decentralize things further so that something like a centralized foundation, something like the organization that created Arbitrum don't have an outweighed role in the direction of the chain. But the irony is that people see the same centralization issues with this new format. So one of the comments that we have in this article came from one of the voters in this Arbitrum DAO who said, quote, having the same parties review and provide opinions on proposals, cover those proposals publicly via media networks, vote on proposals, review the security concerns of a proposal, and then execute the Arbitrum network upgrades is fundamentally lacking separation of powers, which is a nod to the role that all of these different entities who would be on this coalition currently serve for Arbitrum. And this person showed that these folks who would be on this coalition also hold a huge number of ARB tokens. They'd now be kind of suggesting proposals or at least giving research on these proposals that they're also voting on and have an outweighed weight in terms of, you know, I mean, it's so interesting. It gets right at the heart of this debate, you know, the topic that just keeps coming up over and over again, which is, is all of this really about the tech or is it really about the money? It's like everybody wants the money and some people are providing value. Sometimes it's hard to tell whether this is going to actually be valuable or if it's just somebody who wants money, right? I say I'm curious, the research they're talking about, what kind of research is this? Like, why do why does Arbitrum DAO need research? Yeah, it's a good question. So it's quite interesting. One of the cool things about DAOs is you can go into the governance forums of any of them and you can see people weighing different proposals and those proposals will. So when it comes to research, sometimes there's going to be financial sort of research that they'll do into like what kinds of rewards we should give users of our protocol for doing certain things like what sort of interest should accrue to a token. Not really relevant in this case, but in the future, you know, if ARB should accrue interest, which it doesn't currently, it would kind of help make that call. You'll see a lot of risk assessment. So if Arbitrum is deciding on what bridge partners to use to transact with different chains, somebody like Gauntlet might come in or the cybersecurity firm might come in and do research to determine, hey, which of these bridge partners, given the technology we use and whatever platform we're bridging to uses would be the most secure. That's something that you saw in the past blew up on Uniswap when there's questions around conflicts of interest between the people doing the research and the bridge platforms themselves. But that's the kind of research you'll see, kind of like the technical and financial. Very briefly, the reason why this, you know, bristled so many people was the fact that it would cost two million dollars over the course of a year. And based on the cost breakdown, one person wrote, can the organizations involved demonstrate their time is worth, quote, six hundred fifty dollars to fifteen hundred dollars an hour? That seems exorbitant, as in more than I pay for a Harvard lawyer's exorbitant, literally. So these folks are asking for a ton of money in exchange for their services and they've had to defend themselves. And currently the proposal is really 50 -50 in terms of whether this is a temperature check, whether it goes to a real vote. The community can't decide whether that's a fair breakdown of costs. When does the temperature check end? It ends tomorrow. It ends tomorrow. And there's still some big voters that haven't weighed in yet. So we might be talking about this next week. One thing that is kind of cool, I will say, is in companies, modern companies, you know, the CEO and the board make the decisions and, you know, shareholders do not get to weigh in real time on kind of major strategy stuff or even like line item costs, initiatives or whatever. So that part of it is kind of cool that, you know, people are voting on whether they should spend the two million dollars. So let's turn to our next segment here. Well, there's a project called The Graph, and they came out with some news this past week. We wrote a short story about that. They call themselves the Google of Web3, or they say that people call them the Google of Web3. And the idea is that what they do is they basically look at the data that's on the blockchain and then kind of figure out how to, and then deliver that to protocols or teams and for whatever they need that blockchain data from. It's sort of like, my comment was the opposite of what Chainlink does, which is deliver, you know, stuff data onto the blockchain for protocols that need it. But they came out with this new era roadmap. I mean, a lot of it's pretty technical stuff, you know, it's like features, but they, you know, the line in the story was that this was one of their biggest upgrades since they had a 50 million dollar fundraising last year. And the development team, you know, similar to the decentralization in the previous segment, there's always, there's a development team and then there's the project. The development team is called Edgenone. And we sat down with their CEO, Tegan Klein, who, by the way, I think they said she was going to go on her honeymoon this week. So shout out to you. Congrats, Tegan. But anyway, Margo, you know, you were on this call with Tegan and you wrote up the Q &A. What were kind of your big, big ideas on this? Yeah, I thought it was interesting to hear her talk about like what the graph is, like who they serve, sort of like what entities, what protocols they serve. What I'm still sort of grappling with is like, I understand, like obviously there's a need for decentralizing data, but, you know, we'd asked sort of who her competitors are, who in the space is sort of similar to what she does. And her answer was that there isn't really anyone else in the space that does indexing like they do. Like if they do do indexing, it's something in -house. And so, yes, there's been efforts, I think, which one of, you know, Sam or Brad, you guys can talk about that because I know you have talked to Tegan about that before. But if there's no one else that does the indexing like the graph does, like how much of a hold do they have over organizing data on blockchains, especially because she claims that most of DeFi uses the graph? You know, I think that is a rare position to have in this industry, if that's true. You know, I think we haven't done a ton of reporting on this particular space. I think we're sort of more focused on the blockchain stuff that's kind of infrastructure layer of things and who's winning that race and all the apps. These are, they're kind of one of these middle players. They're not really front -facing, you know, they're sort of B2B in the sense that they're, you know, taking stuff from blockchains and delivery it to kind of like the backend of somebody's website or whatever. But I mean, in general, you know, we're going to get in the next segment, we're going to talk about all the layer twos, you know, that are developing and there's tons of layer one blockchains. But I don't know, that's kind of interesting to have a dominant position in anything in blockchain. It seems like there's tons of competition. I don't know. What do you think, Sam? Yeah, nothing comes to mind that does exactly what they do, which is they serve as a kind of like Chainlink sort of Oracle -ish function, but they're completely on chain. So they aggregate and index data on blockchains so that entities like Chainlink, like Uniswap and so on can use them. But I think that there are some, like I remember reporting on them a while ago and one of the problems that The Graph had and continues to have is just that it's extraordinarily complicated. They have their GRT token, they have these things called subgraphs, this role like indexers. And there's like all of these different, you know, jargon that you find all throughout crypto, but is particularly pronounced on The Graph that some people think is wholly unnecessary and it wouldn't be worth getting into all of it on Coindesk on this podcast, you know, is something that they still haven't been able to fix entirely at the same time. Yeah, I do think that they are somewhat unique in this intersection, but I also noticed that like some of the folks that they mentioned to you, Margo, that they, you know, are partnered with are the same folks that they've mentioned to me over almost like, I think like a year and a half ago when I last wrote about The Graph. So it's like art blocks, which is an NFT project that is really cool, but hasn't like been, you know, super huge in a while. They mentioned Uniswap. I also mentioned them, but if I recall from at least when I was, you know, writing about The Graph, their Uniswap thing is used for Uniswap to display prices on its website. It's not something used in the protocol itself, which is a distinction that might matter. The Graph is like certainly a really exciting project and it is the only one that I'm aware of that's doing, you know, this whole indexing decentralized role. I think that they are still kind of trying to exactly find their place and reach that level of ubiquity that they've wanted for a while. That's really interesting. You know, especially given that these projects that they help haven't really changed over the last two years. And one of the things we had asked her sort of is like, where are these new users that they can cater to? Especially, you know, we're in winter, so where's the growth? Like who are you poaching users from? So that's interesting. Yeah. I mean, to their credit, they did make a big gamble a while ago where they got rid of this centralized, this hosted service that they had, which is more akin to a Web2 service where they would index things and then you would query their own kind of hosted server in order to read off the data. They moved to this decentralized model a while ago and there were questions around whether they'd be able to kind of sustain those operations. And it seems like they have, you know, they really are working in alignment with that whole decentralized crypto ethos in a way that a lot of these sorts of information providers, aggregators aren't. They've had some staying power, at least as a result of that, regardless of whatever their user numbers and partners are. I mean, it's interesting when you were mentioning how technical some of this stuff is. All right. Well, let's take a quick break. And when we come back, we're going to talk about the story of the week. Margo Scoop, Kraken coming out with a layer two. We'll be right back. Calling all developers. Consensus 2024 is happening May 29th through the 31st in Austin, Texas. Experience three days of intensive learning with technical talks, 40 plus expert speakers and 20 or more in -depth workshops, including dedicated half days for Ethereum and Bitcoin. Don't miss the opportunity to network a curated developer meetups, discover new career opportunities and explore numerous side events and hacker houses around town. Score a Consensus 2024 developer pass for just one hundred nine dollars, but act fast. Only a limited number of these passes are available. Visit consensus .coindesk .com now to secure your developer pass before they're gone.
Tech Path Crypto
A highlight from Robinhood Relisting Cardano, Solana, Polygon | Cathie Preps for Bitcoin ETF
"All right, so is Robinhood setting up for a bull run? Are they getting prepared for something that could be very unique in the crypto space? We're going to break all that down for you guys today. You're going to love it. My name is Paul Baron. Welcome back on the Tech Path. Before we get started, thanking our sponsor that is iTrust Capital. If you guys are looking at long -term holding and you want to do it in an IRA, this is one place you can do it. And of course, with iTrust Capital, you can do this by either locking up your ETH, your Bitcoin, put it in an IRA. It's self -directed, so you're only making trades within the IRA itself, and that's the only time you're going to incur a fee. So make sure and check it out. It's absolutely no monthly fees. All you have to do is use our link down below, get a $100 funding reward if you guys decide to go that direction. All right, so a couple of things I want to hit on here. This is Kobe Easey hitting up on Robinhood. Robinhood did their earnings yesterday, if you guys heard. They missed. I'll show you some stuff around that. But there may be a silver lining in this, and I want you to kind of follow along here. So stock officially traded below $10 on the share after missing earnings. Interestingly, Robinhood also noted a major slowdown in retail trading activity, obviously for most of the activity around crypto that's really reduced. And I think also retail traders, in essence, have also been damaged to a certain extent. But their transaction -based revenue decreased 11 % year over year, $185 million. Trading platform monthly active users dropped 16%. That's the bigger number that I don't necessarily like, down to $10 .3 million. And volatility in the stocks and crypto have been cited as the potential drivers. Okay, that's kind of the known area. And I think everybody that's following Robinhood probably understood that they were making a ton of money off of things like Doge and just crypto in general. And remember, they had to delist three of the biggest assets, and I'll talk about that in a minute, this year. And that also, I think, affected them as well. Another tweet right here, never quite understood Robinhood's business proposition. I want to play this clip for you guys to listen in, so people can kind of get a framework of how Robinhood is really set to make money in the future, because there's some things changing with them. Listen in. But how does it speak to what we're seeing across platforms right now where retail traders are concerned and where trading activity in this volatile environment is concerned? Well, to tell you frankly, I never quite understood Robinhood's business proposition because they have 10 million customers or 11 million customers, and they keep reporting losses. We interactive have brokers, has two and a half million customers, and we have about $3 billion of profits a year. So I just don't see, I don't understand. That's okay. It's okay that you don't understand, because I think there's a silver lining in here of where this is going. I want to hit on a couple of headlines here. ARK investing is and betting big on Robinhood Coinbase with over a billion dollars invested. Now, many people will say, well, I don't trust Kathy. I don't think her strategy is right. But I look at it this way. They, ARK, have been very forward about getting into innovation and really understand where innovation is going. And that, I think, is the thing that Wall Street is missing here. I want to go to another tweet right here. Now, this one goes more of a flip side of the previous clip you saw, that they didn't understand the model. Listen into this one. It's a little different of a story. Because we did have this loss. We had had a profitable quarter last quarter, monthly active users coming in below expectations. It looks like revenue is missing, even though those were up 29 % year on year. And a lot of talk about higher rates offsetting the weaker volumes. But overall, we're continuing to see some of the activity on this platform sag. Is that the right way to think about this? I actually would think it looks better than meets the eye, or basically the results are actually better than people think. So if you think about those mouths, I think they declined about 500 ,000. They went from 10 .8 to 10 .3. The decline is more muted than the decline between the first quarter and the second quarter. I think it went from 11 something to 10 .8. So you're seeing like an abating of the decline. To me, that means the first derivative is turning positive. So I would actually be less negative on the results. I'm looking at those first derivative trends, and they don't seem as bad. They give you like every month, they give you the trending update. So there's not that much surprise here. They're kind of losing the element of surprise because everybody kind of knows what they're going to report. So it's more about these sort of intricacies. Okay. Is it a buy here then as the stock sells off? Oh, 100%. You own Robinhood for the future. You don't own it for like... All right. So own it for the future. And I think the key here with this, and this is something that Cathie Wood talks about a lot, and I'll show you some clips on her, is that there's something here that could be even bigger than maybe some of the crypto plays. So I think Robinhood is poising up nicely. There is some recent news, though, in the earnings call that I think is interesting. And I want you to listen into... We're going to have a few clips of Vlad, who is their CEO, who will talk about some of the things that are coming down the pipe, but also something to watch for that I'll see if you guys can catch it. But listen to this clip right here. Robinhood could be a great place for traders to benefit from the future Bitcoin ETF. Can you maybe talk a little bit about the opportunity if it exists? Robinhood has been early to offer Bitcoin in its native form. Robinhood has really, really competitive pricing, but maybe customers aren't aware of that. So we're looking to solve that problem. We believe we have solved it. For our crypto customers, we've rolled out some changes to the user interface on mobile so that customers can clearly see the spreads that we offer on our crypto transactions. This makes it easier for customers to see their all -in cost of execution, compare it against other platforms, and see how great of a deal Robinhood is giving them. All right, so I'm going to show you a screenshot of the mobile platform. And what you'll notice here is you'll see that the spread is identified now. So it gives you the actual spread within it. And this is super important, and here's the reason why. When you look at the ETFs that will happen, all right, they're coiling up for an ETF to hit the market. There's going to be new players coming into the space that are going to say, okay, I'll go with BlackRock, I'll go with Fidelity, and here's my fees. That's the key right there is where are the fees? So what Vlad is betting on is that maybe Robinhood wins the direct access to the asset with lower fees within the Robinhood app. So he may get a bump, he, Robinhood, may get a huge bump in trading activity around all of this just because they're going to be lining up fee -wise cheaper than Coinbase and then possibly going head to head with some of these ETFs of getting direct exposure to the asset. So that's something to really pay attention to. And as it plays out for them, and I think because they're focused on that, it's pretty significant that they see something coming down the pipe. The other thing that's playing out right now is their strategy on a global perspective. Also in the coming weeks, we will launch crypto trading in the EU. Crypto benefits from a relatively clear regulatory framework in the EU, and we're excited to bring our capabilities across the pond to better serve that market. And that's going to come right on the heels of the UK brokerage launch. Just trying to understand in that context what kind of products or services that you could tangibly point to there. Would you envision kind of more assets for trading in the EU than the US? I really don't want to get ahead of the launch that's coming in a couple of weeks and tell you what the value props are going to be. But yes, in general, we do expect, given the clarity, to be able to offer a different set of assets and capabilities in Europe as in the US. Within the EU, because of the regulatory framework, it's going to set up a very interesting opportunity for Robinhood. They could energize a lot more tokens back into the platform. Likelihood, as we'll see, you know, the three horsemen, Cardano, including Polygon, and Solana, make their way back onto the platform in Europe. And could they be setting that up here in the United States as well? And don't forget, just in, Bank of England now poses allowing stablecoins as a payment option for goods and services. This is huge for what's going to happen in the EU. That gets back to the whole point. Will Robinhood be a successful platform in terms of a trading exchange within the EU? Very active overall, if you just think about the UK in general, much less some of the other emerging countries around financial services. Robinhood could end up leading the way there. This could be a big, big bonanza for hood. And I think with Coinbase, they've already kind of gone that direction. Now, of course, with all that happening and the good stuff, here's the bad stuff. Right now, US Treasury official says Biden is wanting to basically create new powers from Congress to crack down on crypto. So while everybody else is moving on and starting to understand where the growth is going to be, right now we have the US basically shooting ourselves in the foot. So this is a problem I think that we're going to have to face. At some point, Congress will be able to address this. I think that or an election. Next thing up here I want to hit on is getting Robinhood to talk about delisting relisting and tokens. Listen in. Taking the other side of that, looking at the US market, you know, you guys recently delisted some of the crypto assets. What would give you comfortability to relist some? Yeah, it's hard to say what specifically we're waiting for to give us comfort. I think that rules, rulemaking, court case data, that all helps. And of course, we'll continue to push for regulatory clarity because I think it would be a shame for the innovation that we've been seeing in crypto to be co -opted overseas. I think it's very, very important for the US to remain a leader in every new technology and industry that we possibly can. Now, remember, all the way back here in June of 2023, this is when Robinhood ended support for Solana Polygon and Cardano. And this, of course, was because of the SEC's crackdown on some of these additional tokens. Now, remember that. You take that, and then you take the opportunity of coiling up with what could be prepping for an ETF and or the win, obviously, with Ripple and most likely the Coinbase case that will be very critical of Robinhood being able to relist some of these assets and things change again over there. I want to go to a clip real quick. And this is talking about how Cathie Wood perceives Robinhood as a growth vehicle. Listen in. Robinhood, along with Coinbase and Block, the three of them we think are in the running for dominating potentially the digital wallet space. Robinhood is very user friendly. It could become either the digital wallet. More likely it will become a part of a digital wallet ecosystem, either alone, standalone or in partnership and in partnership with someone or as part of someone else. Taking a look at some of the stocks here, I just want to take a look at Coinbase. They had reported $674 million in revenue. Their estimate was $650. So they over indexed there. That was great. If you look at Hood, just to give you an idea of what happened here on theirs, they had reported $467 million. The estimate expectation was around $480. So that was the big problem. And obviously what you're seeing right now in terms of the stock bleeding out. So is this the time to look at Hood more of a long -term play? Maybe this is it. If you look at, and I'll go to the daily here and I'll really kind of squeeze out into time. And you can kind of see from where Hood has come from all the way down. We'll go up to back here in 2021 when really they were at the peak of the market, when all that Doge community was going like crazy. Bitcoin was flying. And of course, crypto services and crypto fees were being transaction on Robinhood in a big way. But the slide down, is this maybe the bottom? The last time they hit this range was around $765 back in December of last year. And then prior to that, it was in June of 22. So very interesting positions right now for Robinhood. If in fact they are lining up for a bonanza around the ETF and taking advantage of this next evolution of regulation. All this could be playing in. Make sure and stay tuned right here for all that good stuff. We'll continue to cover these kind of topics. If you guys are not in the diamond circle already, make sure and get in. It's another place where you can catch additional content. We have two podcasts over there now. And they're basically not available on YouTube. So you've got to go over there. Just visit the link down below. You can catch them there. If you guys want to catch me out there on X, it's at Paul Baron. We'll catch you next time right here on Tech Path.
Simply Bitcoin
A highlight from Taiwan's Next Embracing Bitcoin?! | EP 863
"It's all going to zero against Bitcoin. It's going on forever. You're against Bitcoin. You're against freedom. Yo, what's up? We are back. We're back for another episode of Simply Bitcoin. And today is an interesting story. I did have to do some deep dive for this one. So game theory is heating up in China, guys. The first reading of Taiwan's crypto bill passes. And depending on the source, Taiwan might be on the verge of making Bitcoin legal tender January 24th. It almost seems like this is happening. It's almost like it's inevitable. And Taiwan is embracing Bitcoin. And we all know the saga between China, that we know that we won China policy. We've been covering this all year. And we know how many times China banned Bitcoin. They banned mining. We've seen even Taiwan themselves try to ban Bitcoin. But of course, you can't ban Bitcoin. You can only ban yourself from Bitcoin. And even this week, on Mainland, Hong Kong has been mulling over whether they are going to embrace an ETF as well. So it really makes you wonder. And if you go back for a couple episodes, Niko and I went over this, the idea of maybe China is using different proxies to embrace Bitcoin after officially banning Bitcoin. The dip last we saw, I think that was 2021 now, it's all a blur at this point. Some days they're banning it. Some days they're embracing it. Well, it seems like China or Taiwan, forgive me, is about to make Bitcoin legal tender. And remember, one of the IRLs we did, we had a friend come on here and I'm blanking on exactly which one it was. But he said basically that what they mean when they say crypto is really Bitcoin and they do not talk about what they have under their mattress. So whenever you're hearing crypto come out from the Asian countries, from China in particular, remember that they know what we know. It is Bitcoin only. And there's Bitcoin and then there's other cryptos. Anyways, Bitcoin's global game theory chess match is playing out in real time, guys. And as a Bitcoiner, you just love to see it. The Mexican standoff is continuing to get spicier. It's continuing to heat up. And it's going to be very interesting to see which countries get left behind, which countries don't embrace hard money. And also in that same vein, which countries are fighting their citizenry. And as we always say, forcing them to have fun staying poor. Anyways, welcome to Simply Bitcoin. We are your number one source for the peaceful Bitcoin revolution. We cover breaking news, culture and nomadic warfare. We bring on Bitcoiners from all around the world, from the biggest names to the everyday Bitcoiner. We got them all and we will be your guide through the separation of money and state. And of course, I am not here alone, guys. I am here with Dell, the funky hodl sapien. How are you doing this morning, Dell? Good. I'm dandy. I'm chilling, relaxing, moisturized in my own lane, sitting in a 45 gallon tub of lotion right now. It feels pretty luxurious. Absolutely love it. OK, well, Dell, what are we going to cover on the culture today? We're going to cover that you can't really stop the Internet. You can't stop things from happening the way you want it to. I imagine most of the people that come to this channel are interested in Bitcoin surviving. That's my assumption. There might be some people that come pass by like, oh, what's this all about? But I get the impression that the regulars that I see in the chat, you're Roman, you're wine a kiss. Tyler Durden, what I'm not going to try and talk for wine a kiss. He's a he's a he's a strange cat. That one is people that I see in day in and day out. They're people that are they understand Bitcoin to some degree. They like it to some degree. And they're yeah, thumbs up to that Bitcoin thing. But the idea that it could die or shut down is not something that a lot of us think about all that much. We're like, oh, it can't happen. But here's a question for you, Opti. If you were given a challenge, let's say let's say somebody comes along, Michael Saylor, whatever anybody that you know has the money to say, I'm going to give you a million dollar bounty to shut down Bitcoin. Could you do that? You think you could? Not for a million. There's literally a half a trillion dollar bounty on Bitcoin. You got to you got to you got to put those numbers up. Well, like, do you think you could do it at all? Me personally? No. Yeah. Yeah, exactly. And so the idea that there is some individual out there or group of people that can shut it down is preposterous. But yet there's still and we're going to play this clip. People out there that are honestly, they're relatively smart people in many fields and there's a lot of really smart people that don't understand Bitcoin. It's like shut down. Shut down the Internet. What are you going to do? Go in. People, people are concerned about that, Del. That is definitely on people's minds. Well, I get that. But why? Like, tell me how that happens. Like, walk me through exactly how how it how that would work. Like, please. Like, if you can do it, if somebody can do it, I truly as much as I would like to see tomorrow, would like you would like to see somebody shut down Bitcoin. So we're going to be talking about that in the culture. Like, you can't do it. Like, I want you to if you can, if somebody in chat can do that, by all means, go and do it. Because we need to know that that's a vulnerability when we need to know how that could happen. And oh, wow, there's a guy that's in the simply Bitcoin chat that has the ability to go and flip a switch and shut off Bitcoin. That we should know about that. And I mean, that'd be so funny. Someone in the chat just shuts it off. Anyway, anyway, side tangents. I mean, we even see it and we hear this all the time. I hear this all the time when I talk to my normie friends out there. They're like, what if, you know, like in twenty seventeen, it was like, what if China bans Bitcoin? And like they did it and it didn't stop Bitcoin. I am convinced that every three letter agency around the world, that nation states have also tried to attack Bitcoin and they continue to try to attack Bitcoin. But they can't stop this. They cannot stop digital money for the digital world. And even if the even if we got like some weird by chance EMP or something that shut off all of electricity, we will never go back to a time without the Internet. I am fully convinced of that. The Internet is something that that is ubiquitous with the modern world. It put a pause on things. If people talk about that, like, oh, well, what about. OK, well, just imagine if things that are escalating over in the Middle East and then the whole Russia, Ukraine thing, like imagine things really take off. And they detonate a nuke in the atmosphere over every country in the world and all the Internet goes out. What about your Bitcoin then? Like, do you even hear what you're saying? Like, imagine that scenario and the thing that is going to be on people's minds is food, shelter, is my family safe? And then probably after the first 24 hours, where can I get a I'm just going to say it, a hand job where where the sex workers like where where can I go and trade these bullets that have been stocking up for, you know, a little me time with with Old Destiny over there? And I do mean old because she was in the business for a hot minute and she's looking a little more now, but she's got the experience. And that's what you're going to want to go to when times are tough. You're going to want to go to the person that knows how to get you to that happy place. So, yeah, you're going to check in on Destiny and give her some bullets for some fun times. But you're not going to be thinking about Bitcoin. You're not going to be thinking about all my cat pictures and all the trad wives on Twitter talking about how they're grass feeding their goats. No, you're not going to be paying attention to any of that. You're gonna be like, what do I need to survive? That's it. That is that is it. That's all you're going to be paying attention to. So this idea that, oh, what happens to your Bitcoin? It's like, go fuck yourself. What are you talking about? Listen to yourself. Is grandma alive in a nursing home? Because there's no oxygen on. What's your first concern if the nukes go off and there's no Internet Opti? Is it is my note still on? No, it's thinking about people in my local community and can I survive? Exactly. Exactly. All right. Well, this is going to be a spicy one. I can already tell this is going to be a spicy one. Let's get into the show, guys. This time seeds do it yourself kit has everything you need to hammer your seed words into commercial grade titanium plates instead of just writing them on paper. Don't store your generational wealth on paper. Paper is prone to water damage, fire damage. You want to put your generational wealth on one of the strongest metals on planet Earth, titanium. Your words are actually stamped into this metal plate with this hammer and these letter stamps. And once your words are in, they aren't going anywhere. No risk of the plate breaking apart and pieces falling everywhere. Titanium stamp seeds will survive nearly triple the heat produced by a house fire. They're also crush proof, waterproof, non corrosive and time proof. All things that paper is not allowing you to huddle your Bitcoin with peace of mind for the long haul. Stamp your seed on stamp seed. Yeah, the chat. You guys are wild. Love you guys. Anyway, we made this easy for you. Scan the QR code. Make sure your seed phrases backed up on something stronger than just a piece of paper in your sock drawer. Make sure it's backed up on titanium, guys. This is the way scan the QR code. Get yourself a stamp seed kit. And we have been in the talks of getting a simply Bitcoin branded one. But maybe maybe you don't want that OPSEC unfriendly version. But anyways, scan the QR code. Go check it out. Get yourself one. Stamp your seed in titanium. All right, guys. Anyways, we're over here on the numbers. We're at Clark Moody's dashboard. Of course, my favorite number is the block height. We are currently at eight hundred and fifteen thousand eight hundred and eighty six. Take talk next block. Honey, bad you don't care. Blocks keep coming in. We are what? Twenty four thousand one hundred and fourteen blocks away from the halving roughly around April 20th of twenty twenty four. So it's happening in time, guys. We know exactly what's happening with the monetary policy that is Bitcoin. You love to see it. Bitcoin is my stable coin. Bitcoin is stability. Anyways, the current price on Bitcoin is thirty five thousand three hundred and forty dollars per Bitcoin. The Moscow time, a .k .a. how much your fiat dollars worth, a .k .a. how much Bitcoin you can buy for a single U .S. dollar is two thousand eight hundred and thirty cents per dollar. The percentage of total Bitcoin that will ever be issued is ninety three point zero three percent. The market cap and fiat terms of Bitcoin is six hundred and ninety billion dollars or six hundred ninety point three billion dollars. The realized monetary inflation of Bitcoin taking fiat currencies to school is one point seventy four percent. It's going to get cut in half. Well, I think it's going to slowly. Is it going to get cut in half? I think it's going to cut in half. I think that's what the halving does to it. Anyways, Bitcoin versus gold market cap is currently at five point two seven percent. We are only at five point two seven percent of the gold market cap. The hard money gang. We're coming for gold. Gold market cap is ten trillion dollars. Only five percent of that, guys. And you guys are bearish out there. Couldn't be me. Can't relate. Anyways, the total public lightning capacity is five thousand three hundred and five point zero seven BTC. The hash rate has been going absolutely parabolic. Of course, this is just a rough guesstimate of what is going on on the Bitcoin network. But something is happening and people are uploading and turning on a lot of A6. The last 90 days, we are at four hundred and twenty point one exahashes. The pending fees. Oh, my goodness. It's spiking right now. Eleven point four four BTC, at least according to the mempool that Clark Moody is connected to. We've been telling you for a while. You wanted to make sure that you are consolidating your UTXOs because things are going to get crazy. This will probably cool down a little bit. I think I did hear that there's some like ordinal BRC 20 stuff going on right now. Yeah. So that's probably why we're seeing this spike right now in the fee market. So once it gets a little cooler, oops, oops, sorry. It gets a little cooler. Not wrong, though. Yeah, not wrong. Once you once you get a little cooler in the fee market, I suggest you guys take the opportunity to consolidate your UTXOs. Make sure that you have good UTXO hygiene. Anyways. All right, guys, I'm going to connect last night's TTO that I did with CJ. I hope you guys watch that. I do have it up here for you guys to show you that you need to go watch this. And I took a little piece out of there. But here we are. We got Neil Kashkar. And remember who he is. He's the crazy guy that was coming out when we were going through the the, you know, the flu pandemic. And he was telling us that they can print unlimited money. And they clarified that question. And we got the memes of him with crazy eyes, like, wait, so you're telling me you can print unlimited money? And he said, yes, that's exactly what I'm telling you. Well, here he is again. And if you listen to last night's TTO. And you will listen to this this morning. You really start to realize just how detached these quote unquote elites are, how detached the Fed is from reality. You really would ask yourself what is going on. And again, I reference the white paper constantly on here because it's literally in the first paragraph of the white paper. Satoshi was so prescient when it came to this because he saw the fundamental problem of the fiat system. It is its trust based system, inherent trust that you need to just trust that these people know what they're doing. And we're seeing in real time that people still seem to trust them. And if you look at the data. There is no reason to trust them. Anyways, Neel Kashkari in this little video here goes, I'm not seeing a lot of evidence that the economy is weakening. And he discusses market expectations for an interest rate cut by the central bank next year. So let's just listen to him and remember the idea that the only reason the system is continuing to hobble along as it is, is because people out there still believe these people in the suits that they know what is going on. Trust the experts. They know exactly what's going on. Trust the guy in the suit on the television telling you that they have the economy under control, that interest rates are under control, that the Fed knows where we're going. And if you really look at the data, it may be completely different and telling you a different story. Anyways, let's listen to this, guys. You said that people want certainty and that you can't give it to them. And I understand that. But people don't just want certainty. They also want some sort of guiding philosophy. Do you think that Fed Chair Powell has outlined some sort of guiding philosophy on where the bar is to cut rates, on where the bar is to raise them further? Well, I think he's articulated very clearly that we're committed to getting back to 2 % inflation, right? There's been some chatter amongst economists that maybe we should raise the inflation target. I think he's done a great job saying that is not on the table. We're not going to do that. We're going to get inflation back to 2%. And we're going to let the data guide us. We've moved very aggressively. We've made a lot of progress on inflation. We're not done yet, meaning inflation is not back to our target. And if we need to do more, we will. There seems to be a feeling in markets that the bar to cut rates has been lowered over the past week or two weeks. That suddenly, not only are we reaching a pause, and have we seen a peak in the Fed funds rate, but that also the Fed will cut next year, maybe surgically. Neil Dutta is talking about that. He's coming up next. Do you want to push back against that? Do you think that the bar to cut is still just as high as it was? I have no idea where market participants are getting that. There's no discussion amongst me and any of my colleagues about when we're going to start preparing to cut rates. The only thing that's been talked about at all is that at some point, when inflation is well on its way back down, if we didn't back off a little bit, the real rates would be getting tighter and tighter and tighter. And that's real, but that's math. But is there enough weakness currently in the market, in the economy, I should say, to give you that sense at this point? Look at the last GDP print. I mean, does anybody look at that and think, oh my gosh, the economy? For the last 12 months, GDP has been very strong. The labor market continues to be quite robust. Yes, the unemployment rate has ticked up to 3 .9%, but we've also seen a huge surge of labor supply, which is really positive, come online. So I'm looking at this. I'm seeing consumers that are strong. By the way, my airplane that I came here on was 100 % full yesterday. It's going to be 100 % full today. I'm not seeing a lot of evidence that the economy is weakening.
The Breakdown
A highlight from Is Circling Preparing for an IPO?
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin and the big picture power shifts remaking our world. What's going on, guys? It is Wednesday, November 8th, and today we are talking about the industry moving on. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it. Give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on The Breakers Discord. You can find the link in the show notes or go to bit .ly slash breakdown pod. Hello, friends. Well, as you know, we have been sort of locked in the past thanks to this S .B .F. trial, but now that is over, we're finally moving forward and you can start to feel a difference in the tone of the industry and the feeling of the people in it in the announcements coming out. And so today we're going to look at a couple of examples of that with the past clearly at our backs and facing towards the future. So kicking off, according to Bloomberg, stablecoin issuer Circle is considering an IPO for early next year. Now, Circle, of course, attempted to go public via SPAC in 2022, but their efforts fizzled out after the SEC refused to approve the deal. Bloomberg sources said that Circle is in discussions with advisers in preparation for a potential IPO. Now, while there's no certainty that the company will move forward with the process, the firm has reached a high valuation as a private company, making it a prime candidate to go public. Circle last raised money at a seven billion dollar valuation in April 2022, and the failed SPAC later that year was priced at a nine billion dollar valuation. What's more, big name financial institutions, including Goldman Sachs, BlackRock and Fidelity are all current investors. Now, Circle, for their part, are tight lipped, stating, quote, Crypto Trader Tolks wrote, Circle considering a 2024 IPO coming after hours is kind of interesting, maybe reading too much into it, but feels like increasingly friendly regulation plus stablecoin bill developments happening behind closed doors. Now, on that front, speaking at DC FinTech Week, Federal Reserve vice chairman for supervision Michael Barr stood firm on his position that the Fed needs regulatory authority over stablecoins. Throughout the negotiations on stablecoin legislation, the major sticking point has been whether the Fed is truly the correct regulator for stablecoin issuers or whether smaller issuers can be adequately monitored by state regulators. Barr said, quote, He added, Circle CEO Jeremy Allaire tweeted, Now, next up in our stories of actual progress, Custodia Bank has finally launched its long awaited Bitcoin custody service. The platform will use segregated customer accounts rather than an omnibus wallet to ensure client funds are safe and held bankruptcy remote from Custodia's corporate funds. This launch comes after years of battling regulators culminating in Custodia's fight to obtain a Federal Reserve master account. The new platform is targeted at businesses like fiduciaries, investment advisors, fund managers and corporate treasurers. In other words, a range of clients that may need segregated accounts to satisfy risk managers to take on Bitcoin holdings. Jeff Ross at Valeshire Cap said, Congrats, Caitlin Long.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1454: How Much Will 1 Bitcoin be Worth By 2025? - Fidelity
"In today's show, I'll be breaking down the latest Bitcoin technical analysis, as we're currently pumping, looking to retest 36 G's baby. And quoting the high priest of Bitcoin, Max Keiser, Bitcoin separates money from the state, defund monarchy, defund the central banks, Bitcoin fixes this. He also predicts rate cuts will boost Bitcoin to his $220 ,000 target, send it, let's freaking go. Also breaking news, Bitcoin ordinals see a resurgence on the Binance listing, we'll also be discussing Caitlin Long's Custodia Bank officially launches her Bitcoin custody platform, as well as Hong Kong is now considering crypto ETFs as part of an effort to become the leading digital asset hub. I'll be breaking down this latest report, as well as the latest regarding Bitcoin ETFs and the fresh surge of capital incoming. We're also going to be discussing one of the largest asset managers in the world, which is Fidelity, currently with four and a half trillion in assets under management, exactly how much one Bitcoin will be worth by the year 2025, according to their head of macro, Jerry and Timur. Now that we have had a new price pump, this is a brand new prediction I have never shared before. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Yo what's good crypto fam? This is first and foremost a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts .net. Again that's crypto news alerts .net. Welcome everyone. This is podcast episode number 1454. I'm your host JV and today is November 7th, 2023. We have lots to cover. Let's kick it off with our market watch as we do each and every day. As you can see on your screen, we got Bitcoin back in the green, looking to retest 36 ,000 and creeping towards that target while Ethereum, BNB and XRP are currently pulling back and in the red. And checking out coinmarketcap .com, the current crypto market cap is on the climb as well at 1 .34 trillion dollars with roughly 45 and a half billion in volume in the past 24 hours. The Bitcoin dominance a little on the decline here today at 51 .8 % and the Ether dominance has been dropping as well, currently at 17 % even. I'd love for you to tell me in that chat, how high do you feel this Bitcoin dominance is likely to climb for this cycle peak? Let me know. And checking out the top 100 crypto gainers of the past 24 hours, we got the trust wallet token leading the pack up 9 % trading at $1 .79, followed by Solana up 9 % trading at 44 bucks, followed by Kronos up almost 8 % trading just under 8 cents and checking out crypto bubbles so we can see the top 100 gainers of the past week. Kind of a lot in the red right now, but we do have a handful in the green as well. BNTWT up 9 % and PLS up 6 .4 % and TON up 6 .7 % with the biggest loser being WeMixed down almost 19 % and checking out one of my favorite indicators, the crypto greed and fear index shows we're currently rated a 68 in greed yesterday was a 74 last week a 66 and last month a 50 dead in the middle, which is neutral. So there you have it, fam. How many of you are currently bullish on that king crypto? Please let me know in that live chat. So let's just kick it off into high gear and let's break down today's Bitcoin technical analysis. Check out the charts where the Bitcoin price action is likely to go next. So here we go. Check it out. You're looking at the Bitcoin one hour candle chart here. Bitcoin fell towards 34 .5 November 7th as analysts attention turned to mushrooming the open interest data from coin Telegraph and trading view showed Bitcoin struggling to reclaim 35 ,000 to support Bitcoin lacked clear direction into the Wall Street open, but market participants predicted the volatility would soon return. The reason they said was a sharp increase in open interest on derivative markets, quitting them here, almost 10 ,000 BTC worth 350 million in open interest added today, according to financial commentator Ted talks macro now coin Telegraph open interest reaching elevated levels has coincided with bouts of volatility in the recent months. Current levels total nearly 15 and a half billion at this time. And James van Stratton research and data analysts at crypto insights crypto slate described the fluctuations as noticeable, quitting him here. The CME exchange preferred by institutional investors has achieved a new record in open interest with 105 ,000 BTC contracts open valid at $3 .68 billion. Finance has edged past this figure would open interest of approximately 113 ,500 BTC. This trend points to increasing involvement in Bitcoin futures, hinting at either a positive shift in the market mood or a move towards protective strategies by the investors. Now the sense of uncertainty over how the open interest phenomenon would play out was shared by J .A. Martin, a contributor of on -chain analytics platform crypto quant as he shares here on X Bitcoin on the low timeframe. The open interest on Bitcoin futures is ramping up. Certain apes are taken significant positions, but it is unclear to me whether they're going to short or too long. Now in his analysis, he suggests the open interest was now in a territory that had previously seen 20 % of the Bitcoin price drawdowns, quitting him here historically, whenever this metric surpassed 12 .2 billion, it resulted in a minimum 20 % decline of the Bitcoin price. That interest open deserved significant attention. Now continuing this current pump, we have 36 ,000, which I think we're likely to retest here shortly as we started pumping right before I went live. According to school analytics, Bitcoin's looking like a short covering bounce here. Some open interest is coming off the lows here too. Word up and good to note. And going back here, let's see what other analysts we can quote here. We also have material indicators who shared the following. Calling a local top at 36 ,000 doesn't mean 36 ,000 is off the table this year. But the metrics I'm looking at indicate that at the very least it is off the table for this week. He says that call also doesn't mean the price will free fall back to the prior 25, 28, five range. But if a bull breakout isn't validated for this month, that range low is critical. So there you have it. I disagree with this analyst. Clearly, we're pumping right now and I feel we're likely to retest 36 ,000 potentially here today. We shall soon see. And quoting Max Keiser, the high priest of Bitcoin, he says, Bitcoin separates money and all that gold from the state, defund monarchy, defund the central banks. Bitcoin fixes this and he's responding to this news here. The king delivers the king's speech from the throne in the House of Lords chamber. The speech is written by the government and sets out the legislative agenda for the new session. Max Keiser also wrote here in regards to this tweet, the Fed doesn't want to talk about rate cuts, but Wall Street is sniffing out an increasing likelihood of just that. Six months ago, if the economy had fallen off the cliff, the Fed's hands were tied and it couldn't cut rates. Well, now it can. And Max Keiser responded, the rate cuts will boost Bitcoin to my 220 ,000 dollar target for sure. We'll send it and let's freaking go. Let's dive into our next story of the day and discuss the latest with Bitcoin ordinals, which is their NFTs. How many of you have actually experimented or used Bitcoin ordinals before? Please do let me know. Ordinals is a BRC20 token collection minted on the Bitcoin blockchain, which surged 80 or sorry, 40 percent in the past 24 hours to $10 .19 after listing on the crypto exchange Binance. And according to Binance's November 7th announcement, traders can now trade ordinals against Tether. Now, Bitcoin and the Turkish lira as well, Binance claims that it did not charge developers any listing fees for the already token and that withdrawals will now open November 8th as part of the initial incentives. The first 1000 users who deposit at least 72 already to the exchange receive 50 USDT trading rebate voucher, quoting them here already is a relatively new token that poses a higher than normal risk and as such will likely be subject to high price volatility. Word up. Now, the Bitcoin ordinals is a numbering system that assigns a unique number to each individual Satoshi or one 100 million of a Bitcoin, enabling tracking and transfer and combined with the inscription process, which adds an additional layer of data to each Satoshi. This allows users to make unique digital assets on the digital Bitcoin blockchain. The current token listed on Binance already is not associated with developers of Bitcoin ordinals. Good to note. Invented by Web3 developer Rod or more in January, BRC20 tokens have surged in popularity of one of the largest technological advancements in a 15 year old block chain. Now, self custody wallet providers such as BitKeep now BitGet Wallet have enabled BRC20 token deposits as well as withdrawals since June. The total market cap of BRC20 tokens currently stands at one point three four billion dollars. So there you have it. Hi, fam. Let's dive into our next story of the day and discuss the latest with Custodia Bank now offering Bitcoin custodial services. This is actually pretty cool. And this is Caitlin Long's company. By the way, she's also very bullish on BTC Custodia Bank, a crypto friendly bank founded by Bitcoin advocate Caitlin Long launched its BT custody platform. The firm shared November 7th to announce the launch of Custodia Bank's Bitcoin custody service targeting businesses like fiduciaries, investment advisors, fund managers and corporate treasurers. The launch comes soon after Custodia Bank earned approval from the Wyoming Division of Banking to go live with the service. The announcement notes and announcing the news, Custodia Bank emphasized that the platform is a non lending bank built by Bitcoiners that offer segregated custody accounts on its custom built Bitcoin custody platform. The statement said Custodia Bank offers integrated Bitcoin custody and U .S. dollar services all on one platform designed to simplify the user operations while reducing risk. Here's what they shared. Since we built our Bitcoin custody platform in -house, we are especially grateful to those willing to help us by providing user feedback. Now, Custodia Bank's approval from the Wyoming Division of Banking follows a series of regulatory challenges for the firm. Back in January of this year, the Federal Reserve Board rejected the bank's application to become a member of the Federal Reserve System. Not surprising, right? Saying it was inconsistent with the required factors under the law. The Fed subsequently denied Custodia's request to reconsider its membership application in the system. That's just straight wrong. In a detailed report back in March, the Fed's board said the decision to reject Custodia's app was due to concerns about banks with high concentration of activities related to the crypto industry. Hence why they don't want it. They don't want to support crypto, fam. It's clear. Custodia Bank opened for business in August of this year, though the Fed has blocked much of its proposed business model, which doesn't come as a surprise. Founded in 2020, Custodia is a bank aiming to bridge the gap between digital assets and a digital asset custodian. The firm was formerly known as Avante Financial Group and is based in Cheyenne, Wyoming. Custodia Bank did not immediately respond to requests for comment, but hey, it's definitely a good sign that adoption is coming and banks will be integrating Bitcoin or they're just going to get left behind. So hopefully many major banks follow in the footsteps of Caitlin Long's Custodia Bank. But let me know, fam, how you guys feel. And a reminder, only keep in the bank what you're willing to lose at the end of the day. Because what if there was a bank run? Even with it being FDIC insured, they don't have the money to give it to everybody. Hence what happened earlier in the year with the regional banking crisis and what happened in return to Bitcoin. We started pumping. In fact, Bitcoin's up well over 100 percent since the start of the year. And I feel we're just getting started. All right, fam. Now let's dive into our next story of the day and discuss the latest with the ETF news coming out of Hong Kong, which I know is not in the mainland of China, but still considered a part of China. And I think we're going to have ETF adoption not just in the United States, but clearly in Asia as well as in the Middle East, because in all markets they're seeking it and competition definitely a good thing, especially when it comes to these ETFs. So let's break down this latest report. Hong Kong is reportedly weighing the possibility of allowing the spot crypto ETF in a Bloomberg report. The Hong Kong Securities and Futures Commission CEO, Julia Leong, outlines what it would take for the spot crypto ETFs to be authorized in the city -state, quoting her here. We welcome proposals using innovative tech that boost efficiency and customer experience. We're happy to try it as long as new risks are addressed. Our approach is consistent regardless of the asset. So according to Bloomberg, Hong Kong currently only allows future based crypto ETFs and among the listed products includes the Samsung Bitcoin futures active as well as the Bitcoin and Ethereum futures ETF issued by CSOP Asset Management. The possibility of a spot crypto ETF getting approved in Hong Kong comes at a time when Hong Kong's ambitions of becoming a leading digital asset hub are in high gear. According to the report earlier in the year, Hong Kong rolled out a virtual asset regulatory framework and on the crypto regulatory framework. Here's what she shared, Hong Kong's comprehensive virtual asset regulatory framework follows the principle of same business, same risks, same rules, and aims to provide robust investor protections and manage those key risks. This will enable the industry to develop sustainably and support innovation. Also reports emerged in June that Hong Kong Monetary Authority pushed for banks in the city -state to offer their services to licensed crypto exchanges. It was also reported in February that China was supposedly in support of Hong Kong's plans to allow both institutional and retail investors to trade in crypto assets. So there you have it, fam, mass adoption. Let's freaking go. We all know there's trillions of dollars sitting on the sidelines just awaiting that spot Bitcoin ETF approval. And once we get that green light game on, it will absolutely be a game changer. But anyways, fam, now let's discuss Bitcoin ETFs being we're discussing them already. And it's on everyone's mind right now before we break into the latest prediction from one of the largest asset manager, Fidelity, who currently controls four and a half trillion in assets under management. Let's first discuss these BlackRock ETFs and ETFs from some of the other asset managers. Here we go. The launch of a spot Bitcoin ETF from BlackRock is a highly anticipated event in the crypto industry. I'd say the biggest, most anticipated event next to the Bitcoin halving. You know what I mean? It's expected to provide unprecedented institutional access to the crypto market, representing a significant shift from leading banks and promising substantial capital inflows. These developments will eventually change the industry and kickstart the new market cycle. What we're seeing in the market at the current moment is still speculation by the whales, some traditional firms and industry insiders. Now, while the move towards the ETF app approval is a positive development, the price discovery mechanism for Bitcoin is typically driven by derivatives like perpetuals. Let's keep in mind that these are leverage orders that can be liquidated with the right catalyst, whether on the upside or doing a pullback as traders take profit or leverage longs get liquidated. This means that recent price hikes post announcements weren't necessarily caused by a fresh inflow of institutional capital. Though that will happen eventually, they were actually caused by speculation around ETFs driven by people already plugged into the crypto space, including the whales, quoting them here. An ETF approval means that there will be an exponential increase in the amount of capital with access to BTC. That's right. And spot ETF. Unlike futures, there is true price discovery, so there will be no market manipulation. So we should still take this as a sign of institutional interest. It is not unlikely that the capital that kept Bitcoin outperforming traditional assets came from the large institutions or savvy allocators of capital buying ahead of the positive ETF news. CME futures are dominating the crypto future markets right now, suggesting that indeed it might be more traditional institutions that are speculating. These are some of the players that have entered the room in the previous cycles, bull run or not. This kind of activity is par for the course. Now, how capital from Bitcoin ETFs will eventually trickle down? Let's discuss it. We should still pay attention to the possibility of fresh capital coming in. Former BlackRock managing director Stephen Schoenfeld stated at CC Data's Digital Asset Summit in London that an ETF approval can bring 20 billion dollars into Bitcoin. While we all know that's extremely conservative, I'm looking at trillions pouring into the King, just saying. While Alliance Bernstein, the global asset management company, expects the BlackRock ETF approval to drive the crypto asset management way up, all the way up. Now, ultimately, an ETF approval means there will be an exponential increase in the amount of capital with access to BTC. This simple change will be greater than any other development in the market's history. This arrival of capital will come over time as more and more investors and asset managers digest the news, deciding that an allocation is not only responsible, but absolutely necessary preach. Likewise, the adoption of this financial product will take years as institutions such as broker dealers, banks and RIA's undergo due diligence and other processes before they can even offer Bitcoin ETFs. It will also hinge on the arrival of key players such as market makers that are an essential factor in building investor confidence. The role of the market maker is vital to ETFs. They are responsible for creating and redeeming new shares of an ETF, a role designed to keep its price tethered to the price implied by the value of the ETF holdings. Now, finally, we have the question of what a Bitcoin ETF means for the rest of the crypto market beyond Bitcoin itself. Market cycles have historically moved from Bitcoin first to ETH second and then cycled into the smaller altcoins or more exotic projects. This time around, the effects might be less direct, but still obviously noticeable. It is true that a rising tide is not guaranteed in the aftermath of the ETFs going live as the new inflow of capital will not come in the form of direct ownership of BTC. Investors who choose that instrument won't easily be able to change or diversify their exposure to other crypto assets until more ETFs are introduced. Now let's break into our featured story of the day and discuss what will one Bitcoin be worth in the year 2025. While Fidelity's head of macro, Julian Timmer, makes this prediction with an exact number. There's a brand new prediction I've never shared before, so let's break this one down, shall we? A massive shout out to everyone in that live chat just joining us. Fidelity Investments global macro director, Julian Timmer, is updating his outlook on Bitcoin following the latest Bitcoin price surge. He just shared on X to his almost 200 ,000 followers. The Bitcoin can soar beyond $96 ,000 by 2025 due to two main factors. He lays out a scenario for Bitcoin's price performance in the coming years based on retail interest rates, which is the interest rate minus inflation and the Bitcoin adoption rate, which is based on historical Internet adoption. Quoting Timmer here, with Bitcoin moving up once again, will its adoption curve accelerate as it did a few years ago? And how does the macro trend on rates affect it? Here's the data to consider. Here you go. I show a fair value band based on both the slope of the Internet adoption curve and the path for real rates. The bottom boundary assumes that the treasury inflation protected securities real rate of 2 .5 % and the upper boundary assumes negative 2%, which is where we were in 2021. The macro can speed up or slow down the adoption curve, which we have seen play out recently as outlined here in this chart. And looking at the chart, the analyst predicts the Bitcoin price would hit the lower bound of 41 ,000 in 2025 if the TIPS real rate remains as high as the current rate. However, if the real rate declines to what it was in 2021, the price prediction would soar to $96 ,210 in 2025, which is a 175 % increase from the current value. Now let's read his thread, which he shared here on X. I also got to throw out there, he also is predicting a $1 billion Bitcoin price by the year 2038. So by 2025, yeah, a little conservative, but extremely bullish for the long haul on Bitcoin. And I know I've covered that previously here on the show. How many of you have heard the billion dollar price prediction from Jerry and Timmer as I have covered it here? Let me know in that live chat. But anyways, let's just break down what he did share here in the thread so you can see the full discussion. Here we go. Above, I show the fair value, as I mentioned a little earlier. He also mentions the macro can speed up or slow down, which we have seen play out recently as outlined in the chart. He also says, assuming for a moment that Bitcoin will mature into an asset class that plays on the same team as gold and silver, how should we think about where it should sit in a 60 -40 portfolio and what would be a reasonable position size? Great question. Here's what he says. The good news for Bitcoin is it is an annualized volatility down from its 2018 peak, although at 58 % is still head and shoulders above traditional asset classes. That's right. There's no asset in which can compete with the king crypto because Bitcoin is a hedge against inflation as well as a hedge against deflation. It's a store value. It's incorruptible. It's unconfiscatable. And guess what? Gold can't compete either. He also shares here even better is 52 week correlation versus the S &P 500 had declined steadily and is now actually negative. More on the Bitcoin outlook on the next thread. And I highly encourage you to follow Jerry and Timmer. He shares a lot of good threads here, especially regarding Bitcoin and what's happening around, you know, the ETFs, the Bitcoin halving, the macro and all of these TA, which is technical analysis. You know what I mean? Let's see if I can find another good thread for you. He has quite a lot and he's very active as well. Here we go. Here's a good thread right here. He mentions continuing the discussion for my recent thread on Bitcoin. Let's talk about Bitcoin as a store of value. Yes, please. Let's talk about this. Shall we? Gold is delivering solid risk adjusted returns remains hard to beat above. We see that gold has one of the best sharp ratios out there, but Bitcoin is respectable as well in line with other major asset classes. This chart is based on monthly returns because it broadens the universe of alts. In this case, alt such as managed futures and equity long, short hedge funds are the less liquid variety, which broadens the mix while improving their returns. And below is a ranking of correlations to the S &P 500 based on monthly data of September. Bitcoin still has a positive correlation to the equities, but less than many other assets as outlined right here in this chart. And don't forget to check out CryptoNewsAlerts .net for the full premium experience with video and to participate in our live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
Bloomberg Radio New York - Recording Feed
Monitor Show 16:00 11-07-2023 16:00
"Pop culture is something that touches everyone. It's how we fill our leisure time and how we enjoy ourselves, particularly when you're talking about the famous people and big personalities in entertainment and tech. There tends to be a need to sensationalize, but what I enjoy is explaining to people how the things that they love get made, come to be, and how people make money off of it. I'm Lucas Shaw, and I cover the business of pop culture for Bloomberg. My job is to uncover how entertainment is changing and explain what that means for you, because context changes everything. And again, it's not necessarily about the magnitude on a day like today, but more this long streak that we're looking at. And it is quite the streak. We're, of course, keeping an eye on the settling number so we can give you just how much the S &P has gained during that period. But let's take a look at the group performances here. For the 24 industry groups in the S &P 500, retail, consumer durable and apparel, and that's really home builders, and software leading the way, all up by at least one and a quarter percent on the downside. Paul mentioned oil prices coming down, and that is dragging the energy complex lower. That group is off by two and a quarter percent. Materials and real estate investment trusts also losing ground. I'm looking at some gainers. I'm looking at some gainers here, starting with Uber, 100 billion dollar company had a second consecutive profit on the bottom line, but its ninth consecutive operating profit, which beat analysts estimates at one point oh nine billion dollars. They also had bookings.
Wealthy Behavior
A highlight from November Market Update: Three Things to Watch
"Welcome to Wealthy Behavior, talking money and wealth with Heritage Financial, the podcast that digs into the topics, strategies and behaviors that help busy and successful people build and protect their personal wealth. I'm your host, Sammy Azuz, the president and CEO of Heritage Financial, a Boston based wealth management firm working with high net worth families across the country for longer than 25 years. Now let's talk about the wealthy behaviors that are key to a rich life. Welcome to the November investment edition of the Wealthy Behavior podcast, where I talk to Heritage Financial's chief investment officer, Bob Weiss, about what's going on in the markets and the investment universe right now. Welcome back to Wealthy Behavior, Bob. Thank you, Sammy. What is going on? I noticed that recently just kind of following the news that we had three negative months in a row for the market, the S &P, that ended October. We're recording November 2nd right now. The markets appear to be in a pretty optimistic mood today and this week. I think there's been some good news on the yield front, the 10 year yields have backed up. So what are your impressions as you've followed things along since the year? Yeah, so yields have been climbing this year after the first quarter. First quarter they fell and they've been basically climbing pretty rapidly in Q3 with the 10 year treasury that people look closely at, touching 5 % a few weeks ago and that got a lot of attention. And I think we talked about this in the last podcast and the webinar we did, but part of what's been driving that is what people call market technicals from the treasury issuing new debt. So think like economic supply and demand and as there's an increase in supply from the treasury having deficits and from all the kind of nonsense in Congress with the debt ceiling, there was a flood of issuance and that pushed yields up. And with higher yields that obviously impacts the bond market directly, but the stock market has been, I think, adjusting based on that as well on two fronts. One, just the fact that, okay, 10 year treasury yield is now 475 to 5 % that's been traded in that range. So what should stocks be valued at as opposed to when yields are say in the lower fours. So that's been adjusting. And then there's also, I think just kind of a lingering concern of like, are we done at 5 %? Is that gonna be the cycle high in treasury yields or is six around the corner, is seven around the corner? And those start to get to be kind of scary numbers for markets on a number of fronts if we were to see those. So the good news is we haven't, as I said, it touched five and it's been down and the Fed had a meeting earlier this week and did not raise rates. And overall, I think it's what they call a dovish press conference and notes that they could have said like next meeting, there's a decent likelihood that will raise rates, but they left the door open, but market odds of seeing a rate increase again, this cycle declined. So it's like a 20 % chance of a rate hike at the December meeting now and going into the meeting that was higher than that. So the market's backed off a little bit on expecting the probability of the Fed raising rates. And also the market has been digesting new treasury issuance well this week. And as a result, bond yields are down, bond prices are up and stock prices are up. That Wednesday treasury auction, is that what you're referring to in terms of the market has adjusted to treasury issuance? Because I know there were fears that that auction would not go well. You and I talked about it earlier this week. What were the fears and what did we see? Yeah, the fears were that just really simply there aren't enough buyers for treasury debt as the treasury comes to market with over a hundred billion dollars in treasuries that they would have to think it's an auction. If you're going to an auction for art, you have to sell it. And just for treasury, they have to sell it. And if they have too much, then they have to sell it at a higher yield and that you'd break through that 5 % level. And we did not see that. In fact, we saw yields come down. So the market absorbed what they had to issue and we're moving on. So it's been good news to see treasuries stabilize and even decline in yield.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1450: I Expect Bitcoin ETF Approval By End of Month
"In today's show, I'll be breaking down the latest Bitcoin technical analysis. Also, Sam Bankman freed. He is found guilty on all seven charges in the FTX fraud trial. Quoting Max Kaiser, tough talk when it comes to the minor league drug Adderall ish corner like SPF, but where's all the bravado when Jamie Diamond gets caught manipulating markets and defrauding the public again or the next crooked Warren Buffett bailout? He makes great point. Also in today's show, Bitcoin to the moon. Send it. I'm going to be sharing with you the top five Bitcoin price predictions for twenty twenty four and beyond. That's what's up. Also, the latest from Cathie Wood of ARK Invest, also a twenty seven hundred percent Bitcoin price explosion is incoming courtesy of one catalyst, according to the BitMEX founder Arthur Hayes. We'll also be talking about breaking news. The Valkyrie CIO expects the spot Bitcoin ETF approval before the end of the month. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo, what's good, crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at CryptoNewsAlerts .net. Again, that's Crypto News Alerts dot net. Welcome, everyone. Today is podcast episode number fourteen hundred and fifty. Can you believe it? I'm your host, JV, and today is November 3rd. Welcome to Moonvember of twenty twenty three. Let's kick off today's show with our market watch as we do each and every day. We got Bitcoin up about a quarter percent, hovering just under thirty five thousand. We have Ether up point three percent trading at eighteen hundred dollars. Cardano, one of the top gainers, up five and a half percent and also XRP barely in the green. And if we are in doubt, they say you need to zoom out. Let's look at the one month. Wow, that's much more sexier, isn't it? Now we have Bitcoin up twenty seven percent for the month. We got ETH up about 10 percent. Solana is up almost 70 percent. Cardano up twenty three percent. XRP up fourteen percent. BNB up seven percent. Personally, I love it when everything in crypto is a winner. It don't get no sexier than that. And look at Chainlink up fifty two percent for the month. Good lord. And check it out. Coin market cap percent in just under one point three trillion with about forty five billion in volume in the past 24 hours. Bitcoin dominance pulled back a little bit, currently at fifty two point seven percent, and the ether dominance in the 16 percentage range for the first time I have ever seen that I could recall. It's currently at sixteen point nine percent as Bitcoin dominance continues to outpace the rest of the market, especially Ethereum. And checking out the top one hundred crypto gainers of the past twenty four hours for chain up fourteen and a half percent trading at three dollars and twenty cent and Oasis Network up twelve percent trading at six point two cents, followed by the trust wallet token up almost twelve percent trading at a dollar twenty three and checking out crypto bubbles so we can see the top gainers for the past week. Massive shout out to Emilio. I appreciate the super chat. Fam, you're way too kind. Much love, much respect. He just said you are amazing. Nah, I think you're amazing. And I appreciate the orange so we can orange pill more mofos and help change the world. Let's freaking go. Much love, fam. But as we can see on the crypto bubbles on your screen, we got a lot of gainers overall. That means the market cap is pumping and a rising tide rises all ships and checking out the crypto greed and fear index. We're currently rated a sixty five in greed. Yesterday was a seventy two last week, a seventy and last month a forty nine, which is neutral. So there you have it, my fam. What's your thoughts on the current Bitcoin price action? Let me know. Are you pumped up for Moomvember? I sure as hell am. Let's dive into our Bitcoin technical analysis for the day. Check out the charts with a Bitcoin price action is likely to go next. Bitcoin broke below thirty five G's baby after the November 2nd Wall Street open, as analysis warned of overheated derivatives. As you know, derivatives are financial tools of financial destruction. Yeah, for real. Now Bitcoin under does the post fed gains. We're currently tinkering just under that thirty five thousand, which is now back at a resistance. The highs had come on the back of the encouraging language from Jay Powell, the chairman of the Federal Reserve, who in a speech suggested the interest rate hikes might soon end. Now, the Fed opted not to change the rates at the latest meeting on the Federal Open Market Committee, which was November 1st quoting their press release. Recent indicators suggest the economic activity expanded at a strong pace. In the third quarter, job gains have moderated since earlier in the year, but remain strong and the unemployment rate has remained low. Inflation remains elevated and accompanying press release stated. They also shared here that the U .S. banking system is sound and resilient. Sure it is. Tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring and inflation. The extent of these effects remain uncertain. The committee remains highly attentive to inflation risk. We all know they're full of ish, right, to say the least. And quoting crypto analyst, Bitcoin breaks out, reaches a new yearly high, which is currently just shy of 36 G's. Now, not a massive breakout, but as long as we say above 34 .8, which we currently are, the next target is 36 .5 to 37 ,000. And the altcoins will follow after, which is typically what seems to go down. Now, down over a thousand from its highs. Bitcoin was worrying some with derivative markets, particularly in the focus, quoting Charles Edwards at Capriole Investments. All Bitcoin derivatives markets are overheated at present. This captures the perps, futures and options. Stay safe out there. And also, we have reacting popular trader school agreed that arguing it was now the spot market to charge of saving the Bitcoin price strength, as he shares here, something to be aware of when sizing up positions currently, when derivatives get hot. This puts increasing focus on spot market to support the current prices and the trend. That's right. In his own analysis, we also had material indicators concluding caution should be applied to the current Bitcoin trading environment, meaning expect more volatility ahead and uploading the snapshot of liquidity on the Bitcoin order book for the largest global exchange, Binance. It warned support levels were apt to disappear quickly. A form of a rug pull. So you have been warned. Newcomer support gaining liquidity at this time lay at both 34 and 33 .5. So there you have it, fam. Again, how many of you are currently bullish on that? King crypto. And with that being shared, now let's discuss our next story of the day. The latest from Michael Saylor. He was recently interviewed on the news and shared some very positive sentiment in the Bitcoin market. Also, he has been a dollar cost averaging and stacking stats. This week, the Bitcoin price came within a hair of thirty six. I think we hit like thirty five nine ninety during our watch party before abruptly reversing and correcting to thirty four to fifty. But after nearly a 30 percent run over the past month, it is natural for the price to cool off as some traders take profit and market participants evaluate whether or not the catalyst for the rally remain valid. Now, despite the intraday price action, which saw almost five percent drawdown, a number of analysts remain bullish on Bitcoin naturally, and some expect another gamma squeeze. If the Bitcoin price manages to push through the thirty six three hundred level, we're only like four hundred dollars off of that right now. Just FYI, permables like MicroStrategy CEO Michael Saylor appear unbothered by the whipsaw price action. And on November 1st, MicroStrategy announced the October purchase of one hundred and fifty five more Bitcoin for five point three million. As the outlines here in October, MicroStrategy acquired additional one hundred and fifty five BTC for five point three million bucks, now holding one hundred and fifty eight thousand four hundred BTC like, whoa, and what's the most mind boggling? Saylor didn't even get into Bitcoin until twenty twenty. So it goes to show you someone can come here in twenty twenty three and become an even bigger whale than Michael Saylor. In fact, the likes of the Black Rocks of the world put Michael Saylor to shame because we're talking about mega mega mega whales on a massive scale. And when asked about the upcoming Bitcoin having during an interview on Squawk Box, here's what he had to share. Most of the natural sellers of Bitcoin in the market right now are Bitcoin miners and they have to sell to cover their electricity bills and capital costs and retire their debt. That's about a billion dollars per month worth of selling into the market. The protocol forces that to be cut in half as of next April or late April. And he also says, so you're going to see twelve billion bucks of natural selling per year converted to six billion of natural selling a year and at the same time as things like the spot ETFs increase the demand for Bitcoin. So that's why all of us are fairly bullish over the next 12 months. How many of you are bullish? Let me know. Demand is going to increase and supply is going to contract. And this is fairly unprecedented in the history of Wall Street. That's what's up now is a pretty ideal entry point for Bitcoin, according to Saylor. Also, he was recently interviewed and I actually transcribed this video clip when he was speaking on Squawk on the street. And I feel this is very relevant. Here's what Saylor says for the industry to move to the next level. We need to migrate to adult supervision. We're going to need the big banks to become the crypto custodians. We're going to need Wall Street to take a role and we need to rationalize away from the one hundred thousand crypto tokens. You know, the yo yo coins that people are manipulating to Bitcoin. Bitcoin is an asset without an issuer. It is the one universally recognized protocol that is a commodity in the space. And so when banks on Wall Street and responsible custodians are managing Bitcoin and the industry takes its eyes away from all the shiny little tokens that have distracted and demolish shareholder value, I think the industry moves to the next level and we 10x from here. Now, what's another 10x from the current price action we're talking about roughly? What is that? Three hundred and fifty thousand dollars per BTC. Send it and let's frickin go. Also quoting him here, I think the liabilities or the early crypto cowboys, the crypto tokens, which are unregistered securities, the unreliable crypto custodians for the industry to move to the next level. We're going to need to migrate to adult super vision. And I shared with you the rest of that quote. So there you have it. Let me know if you agree or disagree with the one and only giga Chad Michael Saylor. Next story of the day. This is breaking news. SBF has been found guilty in all seven fraudulent charges. Yeah, this is wild. Yeah, here we go. I'm going to read all this to you. Former FTX CEO Sam Bankman Freed was found guilty of all seven charges by a jury in his criminal trial in New York after about four hours of deliberations, meaning it didn't take long. Bankman Freed was found guilty of two counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of commodities fraud conspiracy and one count of money laundering conspiracy. Good Lord. That's a lot of charges and it's just getting started. He'll be back in court in March to continue with some more charges to probably get guilty of. We'll return to the court for sentences by New York District Judge Lewis Kaplan March 28th. So that's the date is right before the having. Government prosecutors will recommend a sentence, but Judge Kaplan will have the final say. Now, Bankman Freed's crimes each carry a maximum sentence of between five and 20 years in prison with the wire fraud, wire fraud conspiracy and money laundering conspiracy carrying a maximum of 20 years sentence in a press conference outside the court, the New York Southern District U .S. Attorney Damian Williams called Bankman Freed's crimes a multibillion dollar scheme designed to make him the king of crypto, right? The Michael Jordan of crypto, the Warren Buffett of crypto and of one the biggest financial frauds in American history, Bankman Freed's attorney Mark Cohen said in a statement, we respect the jury's decision, but we are very disappointed with the result. Naturally, Mr. Bankman Freed maintains his innocence and will continue to vigorously fight the charges against him. Anyone here in the chat. We have over 200 people in the live. Anyone believe he is innocent? I am just curious if there's any outliers out there. Anyways, other key FTF execs, including former Alameda CEO Caroline Ellison, FTX co -founder Gary Wang and former engineering head Nishad Singh have all pleaded guilty to various charges and work with the government to testify against Bankman Freed in the five week trial. Now, Bankman Freed had pleaded not guilty to all the charges. And during his trial, he took the stand to maintain his innocence against the best wishes of his lawyers who told him to shut the what up, just saying, and marking the FTX November 2022 collapse as a number of big mistakes I made. He denied any wrongdoing in the FTX relationship with Alameda, attempting to distance himself from key decisions, which we all know is not true, according to the testimonies of their execs, Bankman Freed pinned the blame on Gary Wang for creating a function that allowed Alameda to trade funds on FTX that it didn't have and claimed he wasn't entirely sure what happened. Oh, I don't know what happened with Alameda's line of credit, which ballooned to billions in the collapsing crypto market of 2022. In his testimony, he also blamed Caroline Ellison for not focusing on risk management. How are you going to blame your ex? That's just why. Anyways, he didn't believe he defrauded FTX customers by taking over eight billion worth of their funds. Instead, he framed it as Alameda just borrowing from the exchange. Yeah, borrowing from investors without their permission is called stealing. I just wanted to point that one out. Now, Max Kaiser responded to this attorney who spoke out and he said, this is tough talk when it comes to the minor league, the drug Adderall ish coiner like SPF, but where's all the bravado when Jamie, the tapeworm diamond, the best the CEO, JP Morgan Chase, gets caught manipulating markets and defrauding the public again or the next crooked Warren Buffett bailout? You talk a good game, but you're no different than SPF. And I think Max makes some excellent points. The big dogs get away with this all the time, of course, but clearly there's levels to this ish, if you know what I mean. Now, what are your thoughts surrounding this case? How do you think this will likely continue to play out in March as they continue with the court trial facing more charges he's up against? Let me know, fam. I appreciate that. I got some very bullish predictions to share with you. In fact, I'm going to be sharing with you the top five Bitcoin price predictions for twenty, twenty four and beyond. Bitcoin continues to circle its highest levels in 18 months. Again, the annual high for the year is currently almost thirty six thousand dollars, but let's dive right into the predictions. First and foremost, Matrix Port predicts forty five thousand within two months. So two months from November would mean January. I could definitely see Bitcoin hitting forty, fifty thousand easy peasy before the halving. But let me know your thoughts. Now, that prediction came from Matrix Port, the crypto trading firm founded by Jihan Wu, himself a founder, a Bitcoin mining giant Bitmain in a blog post in late October. Matrix Port doubled down on a forty five thousand year end price targets. That's the Christmas target. Let's go, Santa, which is initially revealed in January. It was based on a handful of in -house models with Matrix Port also successfully predicting Bitcoin's October gains. Quitting them here, Bitcoin is breaking above the July thirty one five resistance showing that forty five is achievable by the year's end. And again, I think that's a very doable target. But let me know your thoughts. The next prediction comes from Bitcoin. They say new all time high pre halving. I also agree with that, especially if we get the ETF approval. I would anticipate above and beyond sixty nine thousand before the April twenty twenty four halving, but that's only if you know what I mean. We'll see how this plays out. The halving is a watershed moment. We all know the blocks of subsidies get cut in half for the miners in September. Bitcoin stated Bitcoin would surpass its current sixty nine thousand peak before April of twenty twenty four. Now they shared here, no, Bitcoin is not going to top before the halving. Yes, it's going to reach a new all time high before the halving. No, Bitcoin is not going to one hundred and sixty G's because the magnitude of every pullback is large. This means it'll peak after the halving in twenty twenty four. And yes, the target price is around two hundred and fifty thousand dollars. I love that. That's right in alignment with Max Keiser's short term target of two hundred and twenty thousand. Now, they also shared this chart. Both the all time high and the post halving two hundred and fifty thousand target came courtesy of the Elliott Wave theory charting, which we cover commonly here in the show with Bitcoin mimicking the behavior from the previous cycles. And you can see their estimation of how the Bitcoin price is likely to rise is coming directly from Bitcoin. Now, Bitcoin did, however, make room for a total of four pullbacks. As outlined in this chart, you can see one, two, three, four. Before we hit the peak at five, quoting them here, there will be one pullback before breaking to a new all time high, followed by another pullback at around one hundred and twenty five thousand. Additionally, there will be two more pullbacks after the halving, which are not demonstrated here. Now for the next one, three Bitcoin price models, one hundred and thirty thousand dollar target zone. That's right. Let's freaking go. Quoting CryptoCon here, I'm prepared for the lower prices, but the stars are aligning at one hundred and thirty for the Bitcoin this cycle. And the concept also hinges on the halving events and the next peak should come around four years after the sixty nine thousand dollar move in November of twenty twenty one. We all know everything is cyclical and Bitcoin every four years driven by the halving. Now the one million dollar question. How about a one million dollar Bitcoin price target leads us to Kathy Wood of ARK Invest, the CEO and chief investment officer, has joined former BitMEX CEO Arthur Hayes in doubling down on her seven figure price prediction when this could happen, understandably up for debate. But changing macroeconomic tides have emboldened what remains a daring Bitcoin price prediction. In October, Hayes maintained that the path to a one million dollar coin was in full effect thanks to the macro reality. Now quoting BlockWorks on the Margin podcast right here, this was shared actually on an interview. If people lose faith in the bond market and this fiat artificial construction we have created over the past 80 to 100 years, this global economy and how it has been structured, if we lose confidence in that, then the amount of money that's going to be looking for an alternative is going to be something that we have never seen before. He shared over in an interview and speaking of Kathy Wood, she was just on Bloomberg and here's what she shared when she was asked, what's a better hedge against inflation? Is it Bitcoin or is it gold? And very boldly she said, Bitcoin hands down, hands down is a hedge against both inflation and deflation. Yes, so is gold, but Bitcoin is digital. And if you look at the incremental demand we are going to see, but gold already has its demand. You know, it happened already, right? Bitcoin is new and institutions are barely involved in the young people would much rather prefer to hold Bitcoin than hold gold preach. So it's interesting that both gold and Bitcoin are hedges against deflation, but Bitcoin has been doing better recently preach and Bitcoin naturally will consider outpacing gold. I think it was Max Kaiser who said for every dollar, the Bitcoin price action increases. I'm sorry for every dollar, the gold price increases expect Bitcoin to go up by over $20 meaning it will continue to outpace gold by a factor of 20. Let me know if you agree or disagree fam. And we spoke about Kathy Wood and her a $1 million price prediction. In fact, she even has a bullish case scenario by the year 2030 of Bitcoin hitting $1 .48 million. Keep that in mind. But now let's discuss Arthur Hayes, the BitMEX founder predicting Bitcoin price to rally 2700 % taken us to $1 million per coin. And then we'll dive into the latest updates with the likelihood of the spot Bitcoin ETF being approved this month in November. According to the major asset manager, here we go. BitMEX co -founder Arthur Hayes is doubling down on a prediction. The Bitcoin is destined to reach the seven figure price. Hayes says that a monetary policy tool known as the yield curve control will act as the catalyst for Bitcoin to reach that 1 million Mark, a gain of around 2 ,700 % from the current level. Send it, let's go. Central banks use the yield curve control to influence the longterm interest rate level by buying longterm bonds as much as possible to prevent the rate from rising above the intended target. And according to Hayes, the entire U S government is enabling a loose monetary policy environment. Even as the fed continues tightening. Now the BitMEX founder first predicted seven figure Bitcoin earlier this year in March in that essay, which I covered here on the show. And at the time, he argued that China's loosening of his monetary policy would trigger Bitcoin to explode to $1 million per coin. Hayes also says the decision by the fed mid this week, uh, pause the rate hike interest rate suggests it's time to pump it up, pump, pump it up. And according to the BitMEX founder, the feds decision would trigger other central banks to also ease their monetary policy. Quoting him here over to you, BTC, let's go. I shall increase the pace of my rotation out of treasury bills and into Bitcoin and ish coins. Now that the fed had paused over two meetings, every other central bank has cover to print expect massive stimulus coming from China, Europe and Japan. So there you have it coming directly from crypto Hayes. Just blaze. Let's get it now for the moment you have all been waiting for. Let's dive into our featured story of the day and discuss a Bitcoin ETF being approved this month in November. And what would that mean for the crypto market? Let's break this baby down. We have Steven McClurg, the chief investment officer at Valkyrie investments has put forth a strong indication that a landmark approval from the U S SCC for a spot Bitcoin ETF can transpire by the month's end. Send it and let's go. The approval of the spot ETF is currently one of the biggest factors influencing the Bitcoin price as well as the entire crypto markets trajectory. You can say that again now alongside the financial giants such as black rock, the world's largest asset manager fidelity, which is about half the size of black rock. We got Vanek, we got Invesco, we got Valkyrie, one of the companies at the forefront of the battle with the SCC over the spot ETF. We also have grayscale. Don't forget the GBTC product. We have the firm managing to Bitcoin related ETFs at the moment. Now Valkyrie Bitcoin and ether strategy ETF and the Valkyrie Bitcoin miners ETF with a combined asset value of 51 .1 million at this time. And they also have active filings for spot Bitcoin ETF. Now McClurg, citing the latest amendments to Valkyrie spot, Bitcoin ETF app anticipates the SCC will issue another series of comments within the next weeks, potentially setting the stage for the approval of the 19 before rule changes by the end of the month. Send it quitting him here before anything else happens, we get a second round of comments and I believe we'll probably get those comments in the next one to three weeks. A late November approval likely means a February launch. So note that if we get the green light in November, it means the Bitcoin ETF would likely launch a few months later in February, which would be right in time again for the Bitcoin having. Now he also shared with ETF .com this interview suggesting a timeline for the SCCs response to these crucial amendments. He also argues the SCC can wait until January to ask the applicants to put the final touches on their S one filings. That's the other alternative scenario. Now Nate Geraci, host of the ETF prime pod explain that Valkyrie CIO suggests SCC can approve the 19 B fours exchange rule changes for the spot Bitcoin ETFs by the end of November and then the S one registration statements early next year. These don't have to be approved at the same time, so keep that in mind. Though they need both for the ETFs to begin trading. Now in recent weeks, the SCC has been actively communicating with ETF apps and disclose that the agency is carefully scrutinizing all spot Bitcoin ETF apps. The focal points of the SCCs inquiry have pertained to the comprehensive explanation of various risk disclosures, methodologies concerning index usage and net asset value computations, environmental risk inclusions, as well as detailed insights into custodial practices. Recent amendments to filings by entities such as BlackRock and VanEck have been augmented to eludicate how initial fun seating could be conducted and also note that BlackRock already began seeding their ETF back in October, which was last month. This is something that Larry Fink their CEO has already disclosed. Now because of that, industry experts remain cautiously optimistic. We have Matt Hogan, the CIO of bitwise asset management, highlighting lingering concerns, quitting him here. Market manipulation is still a potential stumbling block. Custody isn't a wrap, so there is still a lot of work to do, he stated. Now the anticipation isn't purely speculative. The man forecast suggests substantial interest. McClurg envisions about 10 billion bucks flowing into these products within the first one to two months post launch. While bitwise projects 50 billion in inflows within the first five years. I think that's extremely conservative. I could see trillions of inflows within five years, but hey, to each their own. Valkyrie revised its spot Bitcoin ETF filing October 30th a few days ago with an S1 registration statement submitted to the SCC outlining the Valkyrie ETF. The proposed fund shares are intended to be listed under the ticker BRRR on the NASDAQ stock exchange. Valkyrie updated their app and a part of a wider trend as several firms have similarly refiled their spot ETF apps signaling a concerted effort toward regulatory compliance and optimism for approval. Bloomberg ETF analyst, James Saferard identified these amendments as positive signals for progress and possible imminent approvals. Let me know which you think will get the green light first from the SCC. We all know it's imminent. We all know it's going to happen, but when is it going to be November? Is it going to be December? Could it be January? Could it be March? Let me know in the live poll we have on the screen. I have some bonus content to share with you before we dive into the live Q and A. This is from jury and Timur. Why is this so relevant? He is the head of macro at fidelity fidelity being a four and a half trillion dollar asset manager. He's the one who predicted a billion dollar Bitcoin price by the year 2038 and here's something he just recently shared. He shares some incredible threads I want to share with you. Bitcoin is volatile, but it's scarcity and adoption curve create the potential for it to be a high powered hedge against monetary shenanigans. I think of it as exponential gold and in this chart it shows you Bitcoin going past $1 .2 million per coin. That's pretty sexy. Gets me excited as he shares here. One of the attributes of Bitcoin is that it's a network asset and as such it's adoption curve has followed the typical S curve shape. We have seen many of the S curves throughout history and he continues here in the thread. The question, where is Bitcoin's journey along that S curve? A network assets value is driven by its adoption curve, so the slope of that curve matters a lot. Makes a good point. And when I first went down this rabbit hole in late 2020 it's adoption curve, which I defined as the number of non -zero addresses was very steep. It resembled the S curve for mobile phones during the 1980s and the 1990s, which was pretty promising. I'm going to read you a few more now. However, as the real rate narrative changed from dovish in 2020 to hawkish in 2022, the adoption curve flattened and it is now closer to the slope of the internet adoption curve from the two thousands and it has not made much progress since 2021. Now we also had some other threads which are very valuable. I'm just going to read the lead part of it with Bitcoin moving up. Once again, will its adoption curve accelerate as it did a few years ago and how does the macro trend on rates affect it? There's some very insightful data. If you want this, check the show notes below the video in the description. I'll include all of this. And he had one more good thread continuing the discussion from the recent thread on Bitcoin. I highly recommend you check this out because again, this is the head of macro over at Fidelity, one of the world's largest asset managers. So there you have it, my crypto fam and don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in our live Q and a, and I look forward to seeing you on tomorrow's episode.
Thinking Crypto News & Interviews
A highlight from SAM BANKMAN-FRIED CONVICTED & GOING TO JAIL! DXY CRASHES CRYPTO PUMP INCOMING!
"The Bernie Madoff of crypto, Sam Beckman -Fried, has been found guilty on seven counts in his fraud trial. Also, the DXY, the dollar currency index, is crashing. That means assets are about to pump. Get ready. Let's break it down. Welcome 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 or Apple, please leave a five -star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, Sam Beckman -Fried found guilty by jury in landmark crypto trial. The jury found the former executive guilty after a month -long trial where the prosecution presented nearly 17 witnesses to the defense's three, with Beckman -Fried himself taking the stand. FTX co -founder Gary Wang, former head of engineering Nishad Singh, and former Alameda CEO Caroline Ellison testified against their former colleague. Sam Beckman -Fried's sentencing hearing is scheduled for March 28th. A hearing will be held where the judge Louis Kaplan, who oversaw the entirety of Beckman -Fried's trial, will decide his sentence. The former executive faces a maximum sentence of 115 years. Folks, this is great news. This is what we wanted to see. This guy needs to go away for a long time. He is a fraudster and a scammer. And as stated, he is the Bernie Madoff of the crypto industry. What he did was just an old -fashioned crime here. It had nothing specific to do with crypto. Yes, crypto was part of the means or the assets, but this could have been done with cash. A bank could do this. They can co -mingle and steal customer funds. This is what he was essentially doing. So great news. It's something that I think the entire crypto industry and market was waiting for so we can put it behind us and move forward. Now, I want to share a clip of a US attorney of SDNY, Damian Williams, his statements he made, because this is coming from someone who has nothing to do with crypto. He's just part of the law system and he had some really great statements. Let me play it here for you. My name is Damian Williams and I'm the United States attorney here in the Southern District of New York. Sam Bankman -Fried perpetrated one of the biggest financial frauds in American history, a multi -billion dollar scheme designed to make him the king of crypto. Here's the thing. The cryptocurrency industry might be new. The players like Sam Bankman -Fried might be new. But this kind of fraud, this kind of corruption is as old as time and we have no patience for it. So great statements here from Damian Williams. And as stated, this is a fraud as old as time. Sam Bankman -Fried didn't come up with a new scheme. He just did an old fashioned crime. And the problem here was that the regulators, like the SEC, who met with Sam Bankman -Fried multiple times, like Gary Gensler, did not do any investigations. And he was meeting with these folks, making campaign donations while committing big time fraud. And as Damian said here, he perpetrated one of the biggest financial crimes in American history. And now he's going to have to go to jail. So this is a good day, folks. We want to put this behind us and keep moving forward. The market needs us to move forward from this. And from a public perception standpoint, we need to show that, hey, this was a bad actor and there are good actors in the crypto industry. And this technology and asset class will continue to grow. An example of the takeaways that are coming out as a result of the FTX collapse, as well as Celsius and so forth. And that is many folks in Congress and the Senate are pushing for what's called proof of reserves to make sure all these crypto exchanges have their customer reserves. It's 100 % back and there's no commingling and these things happening. In hindsight, it's like, this should have been done a long time ago, but this is the failure of Congress, as well as the regulators to not act sooner. This is a new technology. We're in a global competition and other countries are moving ahead. The UK, the EU have passed crypto regulations. The United States has not. There's still bills stuck in the house and there's infighting, right? It's nonsense. So we need to get these things going. So here, I'll just read a headline from October. US senators set in motion a bipartisan proof of reserves bill. So we need to make sure that these things are in place. Now, a great exchange that I've been using since 2018 and that is a sponsor of this podcast is Uphold and they have proof of reserves. They back their customer funds 100%. So they do audits as well. So you can verify that you have a lot of transparency and I trust this platform. I've interviewed the CEO, the CFO, and I've been using them for a long time. You can also trade precious metals and over 37 Fiat currencies on this platform. So if you'd like to learn more about Uphold, please visit the link in the description. Now, folks, what's interesting is that Bitcoin right now is still consolidating. So we can see here, not much happening. It kind of pulled back below 35 ,000, but that's fine, right? It's chopping. It's building the support levels, right? There's a move upwards. We break through resistance. We build support. Then we move up and break through another resistance. It's just market cycles playing out. So no need to panic. Bitcoin is back below 35. Some people are going a little nuts. It may drop back down to 34. That's okay. It's all within the range of consolidation and building support levels. But what's interesting, and here the blockchain backer just tweeted out, the DXY, the dollar currency index is crashing, folks. It takes a hard tumble through the 106 Fibonacci level here. Folks, that is bullish because as we've talked about many times, when the DXY is pumping, assets start crashing. When the DXY is crashing, assets start pumping. Now, it's not an immediate thing where it happens in the seconds and the minutes, but watch over the next week or so, we're going to see assets start to move upwards. So very bullish in my opinion. Now, this coupled with the Fed pausing rate hikes is all bullish narratives. Now, when the Fed starts to cut rates, that's usually a sign something is about to break. That's when you put up the red flags a little bit. But right now, I think we're okay. The Fed is pausing. The DXY is crashing and Bitcoin is looking to get ready to move to its next level. And as always, it's going to pull the altcoins with it. So we can expect the altcoins to rise. And this is not a move to new all -time highs. Like I've been saying, this is a move to retracement level. So we're anticipating Bitcoin going to between 40 to 50K. That's not guaranteed. That's just a thesis. And altcoins will follow Bitcoin's move, at which point I think Bitcoin rolls over a little bit. Maybe it goes back down to 30K range. It starts to move slow and steady into 2024. And we possibly may hit some new all -time highs in 2024 for Bitcoin. But I think there's a very high probability we hit new all -time highs in 2025. And that will be the peak of the next bull market. So this is based on how the market has performed historically. Could things be different this time? Absolutely. But there's no facts right now to say that it will be different. So we are forming our thesis based on the facts, the fundamentals, the technical analysis, and much more. So looking really good here, folks. Now we got news here that Coinbase posted its earnings and they beat the expectations, which is really good. Here's the headline. Coinbase post earnings beat with $674 million in Q3 revenue. So you may say, well, who cares, Tony? Well, look, I do own some Coinbase stock, but this is a indication. This is a marker, a metric that we use to show that the market is recovering. And I think that's clear as day. If you look at the Bitcoin chart, we bought them in November of 2022 and we've been on the rise since. Is it a rollercoaster ride on the way up? Of course. But that's the market. And you can use that volatility to make money. You can swing trade. But the fact that Coinbase as the largest crypto exchange in the United States is posting a positive revenue numbers here and earnings numbers is a good sign, right? Multiple indicators showing that we are growing. We are coming out of the bear market. I don't believe we are officially in a bull market yet. I think we're in the transition phase from bear to bull. I believe the official bull market starts next year at the Bitcoin halving. Well, folks, that's the news. Let me know what you think. Leave your thoughts and comments below. How many years of sentencing do you think Sandbank, graffiti is going to get? Let me know what you think. And I'll talk to you all later.
HASHR8
A highlight from Bidens AI Executive Order, Core Scientifics Exiting Chapter 11 and Tethers $600M Loan
"Welcome back to the mining pod. We got a great news roundup. Actually, a lot of stuff happened in Bitcoin mining this week, so we have much to get into. The shows have been getting slightly longer. We apologize for that. I think it's because we really like Bitcoin mining, so we just ended up talking about it a lot. As always, Charlie and Matt are joining me today. We'll get into the news in just a moment, but first a word from our sponsors. Did you know that you can make more money by merge mining other networks? Check out makemoremoneymining .com for information on BIPs 300 and 301, a proposal to bring more revenue to Bitcoin miners through sidechains and merge mining, called drivechains. Increase your mining revenues and learn more about participating in Bitcoin governance by visiting makemoremoneymining .com. Are you a miner who wants to activate Bitcoin improvements? Check out activation .watch. See what Bitcoin improvements the Bitcoin community, developers, and miners are considering, and show support by signaling from one of many BIPs up for consideration. Activation .watch. Is your mining operation happening ready? Take control of your own future with the right energy strategy. Lyncoin Energy Trading Platform is a tool used by miners to design, monitor, and seamlessly orchestrate sophisticated energy strategies within electricity markets such as ERCOT, New York, and PJM. Avoid penalties, participate in demand response programs, and capture hundreds of thousands of dollars per megawatt per year by deploying the right block and index strategy. Secure your competitive edge at lyncoin .com. Are you a retail or institutional investor interested in Bitcoin mining companies? The Miner Mag brings you free data and analysis from all major Nasdaq -listed Bitcoin mining operations to know who stands out. Check out visualized metrics and data -dependent stories at theminermag .com. Hey, MiningPod. I'm Lee Bratcher, President of the Texas Blockchain Council. The Texas Blockchain Summit is now the North American Blockchain Summit. The same emphasis on policy, energy, and Bitcoin mining, but now expanded by working with our partners across the country. We've got great sponsors lined up like Riot, Marathon, GDA, Cleanspark, BitDeer, Lanceum, Kormit, Compass, HTS, Crypto Power, Priority Power, Sunoda, and many more. Solidify your next deal or JV or just come for the networking on November 15th through 17th in Fort Worth, Texas for the third annual North American Blockchain Summit. We'll see you there. Okay, welcome back to the show. On the docket, four different topics this week. First, we're going to start off with a little sidebar from Michael Saylor talking about Bitcoin miners dumping on the market. We'll get a little video here in a second, some responses to that. Then we're going to go into the meat of today's conversation. Biden administration putting out an executive order around AI and compute, then moving over to Core Scientific and its notice to move out of Chapter 11 in the coming months, and finishing off with Tether and its recent unsecured loan to Northern Data. So I'll first throw this video up on the screen. Let's take a listen now. Michael, Bob Pisani here. Bitcoin is going to be having a halving next year. That's a rare event. Can you sort of educate the viewers on what happens when that occurs and what, if any, effect that'll have on Bitcoin's price? Well, most of the natural sellers of Bitcoin in the market right now are Bitcoin miners, and they have to sell to pay their electricity bill and their capital cost and retire their debt. That's about a billion dollars a month's worth of selling into the market. The protocol forces that to be cut in half as of about next April, late April. So you're going to see $12 billion of natural selling per year converted into $6 billion of natural selling a year, at the same time as things like Spot, Bitcoin, ETFs increase the demand for Bitcoin. So that's why all of us are fairly bullish over the next 12 months. Demand's going to increase, supply is going to contract, and this is fairly unprecedented in the history of Wall Street. All right, I'll start off with this one. Yes, please do. Okay, so his assumption is that every coin that is mined is going to be sold basically immediately by a miner. Where I agree with him is that miners are natural market participants, and they are natural sellers in some degree in the sense that that is how they receive their revenue through mining, earning Bitcoin, and then they do have operational costs that they have to pay. But as we've seen clearly by public miners, right, in a very public fashion, people hold Bitcoin. Miners particularly hold Bitcoin in our long Bitcoin. He also makes it sound like this is a kind of a lot of spot market sell volume, when he said about a billion a month, which that's the upper bound. Where daily spot Bitcoin market volume is like this year, I would say average probably five to seven billion a day, right? And that's probably on a subset of exchanges, not globally. So we're talking about a pretty small market impact with not necessarily right numbers. Not to completely call them out, but I don't know, Charlie, what do you guys think? He can call them out. I'll echo what you said, Matt. I mean, miners are a natural seller of Bitcoin to cover opex. And this has kind of been a part of the conversation. Are miners the primary seller? Are they kind of the primary driver of this selling pressure in the market? If we back test it, if we look at real numbers, it's pretty clear they're not the primary driver. They're not the main seller of Bitcoin that happens kind of for other market reasons and other market participants. So I think it's actually pretty well understood of a phenomenon now or kind of mechanic in the market where I would say sailors kind of wrong characterizing it like this is not entirely wrong talking about the other things such as issuance and supply and demand ramping up. But as far as like sell pressure, I think that's a mischaracterization. Yeah, so I saw this video this morning on my feed, and I got a little annoyed because I do think like there's a lot of misinformation around Bitcoin selling into the market. I think it's just like the easy swing to take at people. And he does have like a lot of broad strokes answers within the CNBC interview. And I understand why he's talking to like a boomer market. They're not necessarily going to get it. They can understand that there's these miners and they sell. So that's why they like make everything so abstract. That being said, a billion dollars a month is not what we're seeing. So I looked at two metrics, just to sort of understand how miners are selling right now. One being this one from CoinMetrics, which takes a look at the one hop addresses, which would probably be Bitcoin miners. That's the best we can kind of guess. And how often they are selling based on what is their supply? Is their supply decreasing over a certain time period? And from August to October, it decreased by about a billion dollars USD over like a 60 to 90 day period you can see here on the screen. But it's actually rebounding right now. So that means miners are probably holding more. The second metric we looked at was the percentage of cells or the amount of Bitcoin sold by public miners. So we have that information from their statements they put out every month, and we have about 20 of these public miners. And they put out how many Bitcoin they sell every single month. And I just went back and looked at the last month that we have numbers for in September. And above 15 public miners took a look at, they sold about 165 million dollars worth of Bitcoin over that time period. And that's possibly like between 20 and 25 percent of network cash rate. So to get to Michael Saylor's number of one billion dollars sold per month, you'd have to assume that all these other Bitcoin miners are also dumping on the market and they're also dumping on like a price point that would push it towards a one billion dollar volume. It just seems like a little nonsensical to me. And then the other thing I wanted to mention was he talks about like this cell pressure is always there when it's not. You can look at this chart right here. You can see like Bitcoin miners are typically accumulating. They're not really selling. A lot of the miners we've tracked over the last year or so have been accumulating. It's only been the last few months that they're selling and they're really only selling their production. They're not selling their treasuries. They typically have very large totals. But we've probably beaten that subject to death unless Matt, you have a follow up? I was just going to say if what Saylor was saying is true, that chart would be a flat line, right? Because it's a cumulative amount held by the addresses. But very different, yes. Well, actually, you should you should relay that it's in dollar terms. You should relay the Bitcoin price over the chart. But you can see on that chart that in May 2020, it was going up, right? So when the previous halving hit, actually the amount held by miners was increasing as coins were being issued at one half the rate. Maybe that'll happen again. I do like starting off an episode with a modest Saylor pushback. So a modest proposal for Saylor. That's okay. He bought more Bitcoin this week. So I guess we'll take it. Well, we'll appreciate what he did. Let's go over to another video clip. The Biden administration this week put out an executive order relating to general compute and AI, essentially stating that if you're over a certain size of compute, then you need to register with the national government so they can keep an eye on you. Very interesting executive order that made a lot of people in the tech industry unhappy. I saw Marc Andreessen tweeting about this. I saw numerous people tweeting about this in the tech industry, saying you can pry this GPU out of my cold, dead hands is basically the tagline. Now for the gist of it, I do want to get into it in a second. It does seem like the regulations are such a high hurdle or threshold at this point that's not really going to affect the industry. It's like a forward -looking regulation. But it is somewhat concerning. Before we go into that, I do want to show this clip from Sam Altman, the CEO of OpenAI. He testified in May to Congress about the need for regulation in AI. And to me, this is sort of where the whole story begins. So I get this video first before we dive into anything else. But it is absolutely true that the number of companies that can train the true frontier models is going to be small just because of the resources required. And so I think there needs to be incredible scrutiny on us and our competitors. I think there is a rich and exciting industry happening of incredibly good research and new startups that are not just using our models, but creating their own. And I think it's important to make sure that whatever regulatory stuff happens, whatever new agencies may or may not happen, we preserve that fire. Charlie, I'll hand it over to you to get your take on it. This pissed off a lot of people in the tech industry, as I think it should. But where do you think you draw the line for regulation? Dude, I'm really not that qualified to talk about regulation on AI. I think this should be a careful scrutinized industry, but I don't know how we should scrutinize it. Sam Altman tends to be a divisive figure and kind of rubs me the wrong way as far as like how much trust him to be the figurehead for this new frontier, as he says, but I really don't have a strong take on this. I'll throw it over to Matt. I will give my consumer's perspective, but I guess like Sam Altman is, and that's the first time I've seen that clip, but he's like in a line of these notorious tech founders, Zuckerberg, Elon, coming to Congress and saying, we are open, please regulate our industry. I can't help but think, of course they want that. It just gives them a bigger moat if there's more regulatory capture, if there's more licenses that need to be done that restricts open competition. My worry is that in the AI industry particularly, if there is a higher barrier to compete, that when we interact with AI, there will be kind of a standard truth among them that spits out a lot of very plausible, believable answers, but if you've interacted with any of the earlier large language models of today, they can be very believable, but they can also be incorrect if you are asking them about things that you yourself are a subject matter expert on. I think open competition is a very good thing in the sense that other perspectives or more truths can be relayed to you from interacting with AI. That was a bit of a rant, but the general sense is that open competition, I think, is pretty important in the AI space, especially with how big people are forecasting it will become. I went to see the Oracle of All Truth, which has read it to better understand this executive order, and the executive order said, quote, any model trained with over 280 million H100 hours, H100 being a model of GPU, or any cluster with 10 to 20 FLOPS, which is 50 ,000 H100s, so it gave this very generalistic metric for understanding what is going to be regulated by the government or must be regulated by the government, and for most people, it's like, I have no idea what that is, but according to Reddit, the idea here is that this is a very, very high threshold. Only a few companies would be able to do this. The Microsofts, meet that threshold at this point, but that does give the government the ability to start incrementally regulating this industry as it gets going and off the ground, very much in the same way that they tried to do this with early compute in the 70s and 80s. They tried to do with cryptography in the 90s. Typically, all these things fail over time, but it does present a large hurdle and or does create monopolies within the new tech sector. I'll say it seems ridiculous to me to define an amount of compute at the legal or at the structural level. This is the fastest moving industry, so by the time this becomes enshrined into law or policy, then we will already have been Moore's law 18 months, doubled the amount of compute or whatever. It seems crazy to me to define it like that. I have not had a lot of faith in our regulators to tech understand at a level well enough to regulate it, so I'm not super optimistic that we'll know what we're doing this time around.
Telecom Reseller
A highlight from Phonism and Snom Partnership is Game changing in Hot Zoom Phone Market
"This is Doug Green, and I'm the publisher of TR Publications, and I'm very pleased to have with us today Mark Magliano, who is SNOM America's Vice President, Channel Business for the Americas. Mark, thank you for joining us today. Thanks for having me, Doug. I greatly appreciate it. It's always great to catch up with SNOM. We're going to be learning about a very exciting story today. We also have with us Steve Lazaridis, who's the CEO of Phonism. Steve, thank you for joining me today. Thanks for having me, Doug. Looking forward to it. Excited to be here. Well, I think this is a very timely podcast. Many of our readers will have read a recent announcement from Phonism and SNOM regarding the M500 DeX systems and SIP phones, and I think even a bigger story is we're going to be talking about a great opportunity for the channel. We're going to be talking about where the market is really looking, which is what will work with Zoom, what will work with the main ways people today are actually communicating, are there new ways and new things and new ideas for the desktop phone and what its future is. So this is a really huge topic. We're going to be tithing into all that in just a second, but Mark, could you just give us a little bit of an update on SNOM? I think a lot of readers probably know about the label or the logo or the company, but where are we today with SNOM? Oh boy, where should I start? One thing I like to tell people when they engage or re -engage, I like to really bring up the fact that SNOM has been around for quite some time. SNOM was actually founded back in 1997 in Berlin, Germany. And a lot of people don't realize, even long in the tooth industry, people don't really realize that SNOM was the first to come out with a mass produced SIP phone in 2001. So a lot of legacy that goes way back to the very beginning of SIP. Now we were purchased in 2016 by VTech. So I know that there's been a lot of questions around the VTech SNOM relationship. Yes, VTech is absolutely our parent company, but what that gives us, it gives us a multi -billion dollar resource to build our products and build our products stronger. So we still have our R &D in Berlin, but we also have R &D facilities in Vancouver as well as Hong Kong. But we still are very much that European or that Berlin, German company can have that European fit and finish that everybody loves and has grown to expect out of SNOM. And you know, before we go on, that is a very significant thing about SNOM from the beginning, has always been the aesthetics. It's always had a certain type of engineering, a certain type of feel and look and touch. Steve, tell us a little bit about phonism. Hey, Doug. Yeah, so some of the listeners that are familiar with us, we've been on here in the past, but we, phonism is an automated platform designed to deploy, manage, secure and migrate SIP devices at scale. So we work with a lot of service providers. We work with companies like Zoom Phone and other platforms, cloud platforms to enable more devices to come onto the platforms, help customers deploy devices simply, easily without rolling a truck, et cetera, reducing costs and operations. So Steve, explain to me what phonism and SNOM together do. So, phonism and SNOM, so we've been partners for a while, phonism, the phonism platform supports the SNOM family of devices. And recently, about recently, SNOM released the M500 devices. We support other devices as well. And one thing we did was we integrated some extended capabilities of the M500 deck system into phonism, providing our customers and SNOM customers more advanced management troubleshooting capabilities when deploying these devices, like, you know, anything from like zero touch provisioning to remote management, advanced things like remote packet capture, network level troubleshooting to help manage support ticket flow, help preempt troubleshooting items so that your technicians or your support team can preemptively resolve issues before you get a ticket from the customer. And recently, we partnered as the topic of today's conversation, we partnered to the SNOM devices are now certified for Zoom phone and the phonism platform has a Zoom phone integration. And through our partnership and integrations, we're helping distributors and Zoom phone resellers deploy the SNOM devices attached, ring ready to Zoom phone with the zero touch provisioning, plus all the other day two management features that we discussed. So the SNOM devices are now capable to attach to Zoom phone in a very easy, simple way. So, Mark, you know, I was recently at an event and I saw a lot of interest in the M500 deck systems and also in the SNOM line generally. So help me connect the dots. Why does why is this announcement and this connection with those new devices and the SNOM means family so much to the channel? All right, I'm glad you saw that. That's fantastic feedback. And I like the question. Really, Doug, what it comes down to is it's the key line emulation that we have in our M500 in our deck systems. It's something that our competitors just don't do as well as we do, to be quite honest. And Steve can certainly verify this. It's created a tremendous amount of buzz. Just imagine you now have the capability to take the M500 and deploy it in areas where you're challenged to run cable. You can literally just take this device, drop it in, connect it to your Ethernet with the right configuration, especially when you're using the provisioning and the zero touch provisioning and the DMS and everything else that Phonism gives the SNOM platform. All those capabilities just bundled in one are just awesome is the best word I can come up with. But just again, go back to imagine you now have the ability to just plug and play a full featured deck system in your up and running, something that would normally take certainly or days even hours of configuration can literally take minutes with the SNOM deck device, partner with the Phonism software solution. You know, and this is a good chance for us to bring to light something that SNOM, in addition to that great design, has always been famous for, which is you guys really master decked and you use it a lot. And, you know, it's good for the partners to know there's so many companies out there, so many different types of physical sites where cabling might be very difficult to do. Yeah, it's a fantastic solution, and the more we show it, the more we engage with the public and the channel, the more excitement is building. So as a sales leader, I'd love to see that pipeline build. And we're certainly seeing a lot of it right now. And so, you know, and from both of you, what I'm understanding is that, you know, the real world challenges that people right on the ground might be facing, which is, gee, this infrastructure was never built for cabling. And I have a customer that wants to use Zoom and my customer wants to have more updated devices. Basically, all that comes together with this announcement. That's correct. That's correct. So with the devices certified on Zoom Phone and Phonism's capability and interoperability with both of the devices, the SNOM platform devices, as well as Zoom Phone, it provides that ease of deployment. It provides that ease of troubleshooting and enables partners to deploy these with much less headache than before. It may be worth mentioning just for the audience, the M500 deck family is not just a handset deck phone like you typically see in the deck deployments. This is a family of desk phone level devices, as well as handsets like cordless handset, your typical deck hardware profile that you can deploy. So you can deploy a whole office suite managed extensively through Phonism, powered by the attached SNOM hardware to Zoom Phone. It's not just the deck phone you see in the pizzeria per se. Right. And so that's the sort of exciting thing. I think that's what I saw at the event that I was at, is this is a family of products. They work together and they anticipate even in one facility that there might be a need for something on a wall, something on a desk, something moving around, et cetera. There's mobile devices and so on. And with that, there's another part to this announcement that I think will be very important to for the community to hear, which is zero touch deployment. Yeah, if I may, the ability to partner with Phonism helped us go to market almost immediately with Zoom. We didn't have to go through all that interop that Steve was talking about before because Phonism did it for us. So it was super fast and super easy for us to go to market and to start to recognize revenue on the Zoom platform. So the zero touch provisioning or ZTP, as you'll hear a lot, is very important. Most if not all the MSPs would love to have it and they need it as part of their offering. We do have zero touch provisioning on most of our phones, but again, to leverage the Phonism platform was just a breath of fresh air and again, super easy for us to partner and then go to market with Zoom and others. Steve, did you want to comment on the zero touch deployment as well? Yeah. So zero touch deployment or zero touch provisioning, either one, it's kind of the same thing. The way we see zero touch, we've seen cases in the market where some people will do zero touch provisioning, but they still have to touch the device after deployment. So we like to use the term zero touch deployments or the way we see zero touch provisioning is full deployment. Everything is attached in Phonism, it's hooked into Zoom phone. The device gets drop shipped by distributors. There's no need to roll a truck, allow the customer to plug the device in and they're good to go. So that's impactful because even today, everyone listening on this podcast knows that they know either they as a partner or they know a partner that still roads trucks for deployments. And what we're doing here is we're helping companies become more ESG aware, removing the truck roll from the need for deployments. I think this is significant. You know, anybody who's paying any attention to the changing way we do business, the changing way literally companies make money in this market, it's very important to control those labor costs, to control those fuel costs, truck costs. It's a very, truck rolls are expensive. And I think this points to a bigger picture, which some has historically been famous for, which is easy deployment, works with everything and meets the needs that you have sort of seamlessly. I wanted to bring also to everyone's attention, one other thing that is also critical, which is security. So my understanding is there are some security features of significance here. Yeah, so the security features, so the SNOM devices support all the latest SIP -TLS protocols for the technical people on the call. They also support secure management protocols. So through the Phonism platform, alongside with the capabilities of the devices, we securely manage those devices over protocols like mutual TLS, which is the most secure way to manage these devices today. And the SNOM devices have that built in. And then on top of the capabilities of what the device has, but from the management side and deployment side, Phonism has capabilities where you can lock and enforce certain settings or firmware versions throughout your whole network very easily. So if you have 1 ,500 sites or 50 ,000 sites with 100 SNOM phones across the board, how do you manage that firmware, those logistics? Well, you can very easily do that in Phonism by building compliance rule sets and locking the firmware down across the network or in subsections of the network, as well as configuration parameters. So you may want to, an example that the VoIP community and the UCAS community will understand here, you may want to disable the web interface on the device itself so nobody can log in on it. How do you make that change across 100 ,000 devices at once? Phonism enables that in a very easy way, things like that. So, you know, Mark, it sounds like this really opens the door to the channel to do some new and interesting things. Yeah, it definitely does. The relationship that we have with Phonism and their platform that they offer the channel is, I think it's a game changer from my perspective. We now have the ability to not only do the provisioning piece of it, but to handle any migrations, any deployments, or any changes that need to take place at the distribution level. So partnering with our distributors, working with our distributors, and leveraging the Phonism platform is really a no -brainer. You got to think about it this way. Any distributor out there sells or resells most of our competition, our competitors' products, right? And most of the competition has some type of unique zero -touch provisioning or even a DMS offering. Well, those are multiple platforms that you need to manage, right, per each manufacturer. With the Phonism platform, it's one. It's like I like to say, it's that single throat to choke, right? You deal with Phonism, you can do all your provisioning for all the different manufacturers and then have all the extra enhanced tools that Phonism gives you that you just don't get from your standard tool set with your manufacturers. So for us, it's an absolute game changer. I mentioned it a little bit earlier, Doug. It helped us go to market quicker with Zoom and also strengthen our relationships at the distribution level. And Steve, you know, Mark, everyone seems to be saying this is a game -changing thing. Yeah, so it is. I mean, we've been working on, we've been doing this for years. And our team, we built up a lot of expertise around device management, device provisioning, integrations into platforms accordingly. And, you know, I'll give you an example, Doug. We were at Zoomtopia earlier this year and Zoom phones on fire. Everyone knows that. And we spoke to a lot of partners and partners wanted more flexibility around devices to support devices like SNOM. And when we spoke to them about what we were doing with SNOM, they were all engaged and excited. So we see a future where you're no longer kind of limited on what we want to do is we are extending the device support for cloud platforms. And when you partner with companies like SNOM and the M500 is a wonderful device, the deck device capabilities are second to none. It's got a ton of features and we can attach it to cloud platforms like Zoom phone, more modernized platforms. So that's big. You're no longer stuck waiting for the cloud platform to add support for a given device type. Mark, is this a family of products available? Are they shipping now? Yes, absolutely. The M500 entire series is shipping the desktop piece, the base station, as well as the two handsets. Everything is shipping. We also have an M900, which is also a deck solution with a lot larger range and a whole really leverages the mesh technology that shipping as well. They're all available at the usual distributors that are out there. We work with NetEx, we work with Teledynamics, 888, VoIP supply. Those are our major distributors here in the United States. And we also distribute up in Canada through GenTech and a few others. And if you're interested in becoming a partner of Snom's, is there a program for that? We definitely have a program. We have a partner program that's in place right now. You can visit that at SnomAmericans .com and take a look at the reseller partner program or become a reseller program. It's also being on both the website and the partner program. We're going to go through an overhaul. We want to add more features and functionality to it to become even more channel friendly. So the audience can look forward to a lot more to come from Snom and Snom Americas on the channel partner front over the next six months. And Steve, where can we learn more about Phonism? Please visit Phonism .com, follow us on all the social platforms. We're pretty popular on LinkedIn, Twitter and some on Facebook as well. So choose your platform of choice. Looking forward to hearing from you. Well, Steve and Mark, thank you for joining me today. I'm looking forward to our next podcast. I'm looking forward to hearing an update on how these products are rolling out. But for now, thank you very much indeed for joining me. Thank you, Doug, for having us. Yes, thank you very much.
Crypto Banter
"billions dollars" Discussed on Crypto Banter
"I praise for all eternity. I praise for all eternity. I praise for all eternity. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you.
The Ed Mylett Show
"billions dollars" Discussed on The Ed Mylett Show
"Lost money. I've had nothing. I wouldn't trade any of it. Any of those experiences. Working in it, it puts for a year. I mean, I wouldn't trade that for anything. And I think about it all the time, you know, going to today, you know, grinding and working and it goes back to balance. I just got back from Aspen. I was here for four days. I didn't look at an email. That's a phone call. I raced it. I had fun. I was with my friends. We had a great time. I did not do any work. I legitimately did not do any work. But when I look at my day to day, today, my favorite thing to do is to grow the agency. To grow the brand and to grow this baby that I've created. And I don't mean that in a bad way. It's actually my favorite thing to do. It's actually a game. I love golf, yes. Can I play golf 5 days a week? No. Okay? 365 days a year? No, I can't. I can not do that. Can I bake off 40 days a year? Absolutely. Can I ski 40 days a year? Absolutely. Could I do all that 365 days a year? No chance in hell. Let go bananas. And so to me, a part of that good life is to have something to do, like building something, creating something. That's exciting. Those challenges, the challenges that I'm faced with every day, that's fun. I have fun with those challenges. You know, I was on a phone call this morning with some of my global partners and they were giving me shit about stuff that the company has scaled back on because of this recession and stuff that I'm scaling back and I'm actually reducing expenses and doing smart shit. I'm being smart. And they were talking to me about this thing, right?
The Ed Mylett Show
"billions dollars" Discussed on The Ed Mylett Show
"Micromanage every single little thing, or they deplete their energy doing stuff, they're not really that good at and don't have a proclivity for. And then they don't have the energy and juice to go do the things that really move the needle in their business. You are really good at moving the needle in your business because you don't deplete your energy most of the time doing stuff you're not good at or don't enjoy. I think one of the most important traits that a person can have, a business person, a person in anything, is being able to really self. Self analyze, yes. Your strengths and weaknesses. And not trick yourself that you have strengths where you have weaknesses and because most people, they tricked themselves. I mean, I think that's one of the biggest mistakes I see in people is that they trick themselves. They think they're good, they pretend they're good at something, or they think they're good at something that they kind of suck at. And being able to be able to be self analytical and understand your weaknesses is probably the most important thing because then you can hire to your weaknesses. Yes. Right. And I hire to my weaknesses. And I also hire what I think is amazing brains that don't necessarily think like me. I don't need another human being next to me that thinks exactly the way I think so that we could be all day long. Hey, bud, are we great? We're the best yet. Yeah, let's do it red. Yeah, red, red. Right, I need somebody like, no, I want blue. That's not rad, you know? And why? Now I need the brain. Why do you want blue? Okay, now I might be the boss. I might end up picking red. But I want to hear every damn reason you want blue. Okay? And then it's up to me whether I pick it or not.
The Ed Mylett Show
"billions dollars" Discussed on The Ed Mylett Show
"Teach yourself how to save and how to understand that value because I always tell everybody there's a hundred pennies into dollar. The day you can figure out how to give me a 102, I'm in. I'm your partner. Says that in the book. We go through that whole process. And he teaches me how to fight for cents, literally. I'd come back and I'd be like, dad, I sold, you know, a 100,000 yards for 97 cents. And he'd be like, yeah, go back and get me 99 cents. I'm like, really? Yeah, you start adding that up and adding that up and it adds up to a lot of money, right? But then eventually it's like you're in sales, you're creating your own momentum, you're creating your own things, you get that entrepreneur bug. And I ended up meeting somebody that we sold fabric to that was struggling and I loved their brand. It was 9 O two 6 5. It was a clothing line. The guy was awesome. His name's Bron roiland. He started the company. Really brilliant guy. He was actually a makeup artist. He used to do all the makeup artists for Justine Bateman and Woody Harrelson. And he had all these amazing people that were his people. But they didn't have credit. It was a startup, et cetera, et cetera and I think sitting there in front of these guys, and I'm thinking to myself, well, these are the fabrics I sell. I've got all of this shit and you know, sitting in my warehouse. So now you start thinking as an entrepreneur and you start taking your salesman job into this next piece, which is like, how do I build a business, right? And so from there, we built a business, right? And we built something else. And there was an exit out of it too, right? Yeah, yeah, there was an exit and we sold it. It was not a profitable exit for me. It was more of an exit that got me out.
The Ed Mylett Show
"billions dollars" Discussed on The Ed Mylett Show
"And so I talk about houses and real estate stories and residential and some of the most expensive real estate in the world, right? But that's given me the opportunity to meet some of the most influential people in the world. But it's not only about it's not about real estate. It's about life. And it's about professions and it's about, you know, it doesn't matter in the service industry. You know, I say that all the time. I mean, for somebody like you and I, how easy would it be for a hotel to just find out what your favorite tequila is, right? Or if you like tequila or if you like vodka, that'd be pretty easy. It's not that hard to figure that out today, right? Right. Even if they said a questionnaire, right? Even if it's not, they're not using extra stuff. But how much better would you experience be if you arrived at a hotel? And they handed you your favorite drink, right? They had that they had the right smell, whatever it is in your room that you were paying a fortune for it at a hotel or even not a fortune. A moderate hotel. It's not that hard to give you a little bit of an extra experience, but nobody does it. It doesn't exist. And it really wouldn't be very difficult. See, now you're getting in the minds and the strategies of the elite of the elite at what they do. Because you're a 1 billion % right. You just made me flash to three or four experiences recently. I've had where they did do that. And I'm going back there. I'm patronizing that business again. I'm going to be a repeat customer. You're a and I've told people about it. So I've shared the business. I've done their marketing for them when you do these little things. This is the nuanced stuff. The other thing, though, is you got to have some guts. I knew this story about that when you worked for the hiltons, which is in Kyle's family and your family. But you tell us amazing story in the book. I think there's a lot of people sitting there right now, brother that are like, I have this dream, I want to pursue it. But I'm afraid to leave where I am. There's a lot of risk. There's fear. I also don't want to let down someone who's been pretty good to me or whatever. They have all these things they do. And so I knew the nature of your story of how the agency got started. But most people don't. And it really, it's a lesson on what to do and what not to do on a lesson to do on your side and maybe when you're leading somebody, what not to do. And I've told you before we got asked, I'm kind of surprised you put this in the book because this is a book of, man, this book is legit. And so take them through, we're going to start in real estate, even though there was business before this. Tell them who you worked for, why it matters who it was and then what ended up happening that finally helped you give birth to this dream that now everybody knows you from. Yeah, well, one of the important things that I always talk about and kind of where the original concept of my book comes from is that when doors close, you have the ability to create another open one, right? And so it's like, boom, something closes on you. You know, I got fired from a job, like, boom, I got into real estate, right? Instead of going and going into a whole and not coming out, it's like I use that getting fired from one industry from the fashion and going into real estate. So cut to I'm in real estate now.
The Ed Mylett Show
"billions dollars" Discussed on The Ed Mylett Show
"Right now is in that moment of explosion, right? And you've got, I always say, when it rains, catches much water as you can because there's going to be a drought. Right now, the business is just, it's an opportunity where there's an opportunity to explode. The brand recognition is crazy. Kyle is doing she's at her peak in her career. So that's allowed us also to give the family more, right? Because of The Real Housewives of Beverly Hills and because of Alex Baskin and all of those people, like we have a show called buying Beverly Hills, right? If we didn't have The Real Housewives of Beverly Hills, I mean, I probably wanted to have buying Beverly Hills. I don't know. Maybe he has maybe not, right? But it's all of those things that lead to circumstance. And when that door opens and you talk about this all the time, right? When that door opens, do you walk into that door and take advantage of that door, or do you stay looking at the room and try to figure out if you should go walk in that room? I think a lot of people don't walk in the room because they think they have to know everything before they walk in there. Don't you? I think that's one of the biggest mistakes people make is that procrastination. What's inside that room? What does it look like? By the time you figure it out, it's closed. You're so, man, that's really true. The window or the door closes if you flinch, right? Like you got to be able to step into the unknown a little bit. I said this about you when I intro do I wasn't being funny. You are the most charismatic friend that I have. And you and I have a lot of really well-known, very influential friends, famous friends, but of all of them. If you said to the word to me charisma, persuasion, whatever that thing is, I'm serious mo.
SpyHards Podcast
"billions dollars" Discussed on SpyHards Podcast
"Own biggest fan. Yes if it was coming to the conclusion is there any final thoughts You guys have on the film. Shane referred to. I know It's it's when i would watch again with some large glasses of scotch late on a saturday night. you know. maybe. I wouldn't turn it over on tv but it no aena. It doesn't have the pedigree of funeral in berlin. Or if chris filed for me and apparently the next two that came out in the eighties atrocious. I've never watched them. They are on my list to pick up a party just dreadful so shame radi the character and i just think it's a missed opportunity. They worry where where tackling them all look forward to that. I have no idea what we subs into. But yeah the the nineties. Tv movies We'll be revisiting. Harry palmer again. What about you cami final Tidbits this is a movie. That reminds me because i don't have a huge background with harry palmer but i do have a big background with batman movies and growing up. I absolutely loved the first two timber and batmans. And i remember watching batman forever and just being like what the hell was that after. Those first two. I feel like billion dollar. Brain is kind of the batman forever. It's better than batman forever to be fair. I don't want to get people to rankled up but more the sense that just totally. It feels like a whole other beast and when you try to watch it in connection to those first two. It's just kind of frustrating. And so like. It's a movie that i can totally recommended people in the sense that if you've watched the first to just kind of see though the bizarro realms that the sequels go in the franchise goes but it's also a movie that it's just i don't know you know it's just something that exists that i'm glad i watched. I felt a certain amount of you know. I felt like it was when i could walk away from an actually have a bit of reward from say men in black two but it just kind of frustrated me a lot and i just want to say well eat kelloggs cornflakes. They're good for you. They great vitamins to you. Where i will say though is that. I think the three of us are pretty much agreement about the movie but what i will say is if if our listeners if i can share this on your show if you google double o section billion dollar brain there's a gentleman called matthew bradford who you absolutely need to have on an episode of spy hans. He is a film expert and he loves this movie and he's written a very glowing review of this movie. And i would urge spy haden's needs to go listen to this and then go checkout matthew bradford's review as well just to get the pro sight of this for sure and there's a lot of actually critical reappraisals of this movie. Some of them that will tackle it from the point of view of being somewhat of a satire on the sixties five movement. There's a lot of good writing out there on this movie so definitely check it out. It's not like we're going to tackle on this podcast sequels that maybe even the next two harry palmer sequels. That are just like you know. There's nothing really to say about the. Maybe but this will be..
SpyHards Podcast
"billions dollars" Discussed on SpyHards Podcast
"Zero extras yeah. I heard that's the case for a funeral in berlin as well The response full of them and it would have been nice to have commentary Because it may have answered some of these questions we have. So i was very underwhelmed no bonus content. I was i wouldn't recommend a dvd transfer either to anyone who's looking to buy it after review. The why you would after this term. Yeah the dvd's no very good. Try and pick up the blu ray transfer. If candidates people are going to the stanley came. Come on up to five minutes of the film and it's a movie that you can. You can totally justified having the extra. It's not just some phone in sequel. That they just went with you. Know cut rate talent on this. Ken russell film and one of his earliest and he is a cult filmmaker with a big audience. I don't see why they aren't putting some money into just shooting some documentaries talking about the movie placing within its context of his career. But also the harry palmer series. I i don't know if they're willing to spend a ton of money on doing special features on some like very lacklustre Horror movie being put out by scream factory or whatever like why not. Why is there not something on the keno lober billion dollar brain. Yeah yeah discipline. Wondering if michael cain would do commentary mean that the book. I'm reading his right now. He he narrates the whole thing so he's in his mid eighties. He's not flat out with work. You know i mean. Roger moore franson some sorry to repeat Talk about the best bond again. But he did you'll commentaries and all that the bond breweries believe it was But then i think we'll hang on this was filmed in was sixty seven. Like i don't even remember what i did a year ago at work. See only the actors memories would actually be like all and it's something i've learned over time mostly attending star trek conventions really and that like working actors. Don't sit and watch their work the way we do..
SpyHards Podcast
"billions dollars" Discussed on SpyHards Podcast
"Added region and that that runs throughout spiral attrition and particularly in a lot of land dayton books there that almost closest You know the the agent is working class and the The boss of the department is the old school tie going. You see a lot of that. Go through spite literature. This one didn't have as much of the commentary. I felt like on classes previous two. Did i kind of missed as well. Well i guess it was tough with it. Being in helsinki and then dealing with texans apparently have no class. Maybe that's a good cue for us to talk about ed begley as general midwinter the villain of this movie. I guess yeah i mean depends on your interpretation. I suppose but Like i think he was a very bombastic character in a film that the likes is bombastic stuff lately farfetched completely over the top as a villain and just totally you know no no credibility whatsoever right when you just laughing at him. He's got a four minute. Seen he's shouting harry about his plans another Common so they has has in common with the bond movies right and i would like to quote him here. I think maybe his greatest line in the movie strong strong strong.
SpyHards Podcast
"billions dollars" Discussed on SpyHards Podcast
"Which i dug this kind of lost that so michael caines not bad. He's a you know he's a great actor but it's just not it doesn't feel as engaged. I kind of don't blame him. I found it bizarre. Because i listened to a audio interview with him. I found on youtube from the set of this film and he was. I mean it might just been active. Pr spin stuff. But he seemed to be really enthused about playing the character again. You can take either y site but He he was talking about like how he envisions the row How he is in his acting career. On harry palmer. The time the saas fessel is really fascinating. I didn't see any of that in the film. I think gains appro right. He's a professional actor. He gives a hundred percent in terms of committing to the role. But you know. It's like a chef chef going be as good as the ingredients. He's given i mean if you've ever seen the Disaster movie the swarm with michael. Cain where he battles bees that man will commit to scene so like. I feel like he was probably committing to what was going on here. It's just like the movie was almost not that interested in him. He kind of just got lost in the in the in the chaos. I kinda feel. Like that's the case. I would agree with then. He's as almost always there. So i don't know how that film mashed to lose him but it feels like the events of the first two are filtered through his perception of versus this movie where he just feels like more of an observer. Okay well. I mean in terms of other returning characters. We have oscar Hokka being used steals i. I love seeing comeback. I i heard. He was returning and soon as i saw. Cheerful face. Eye brightened up. He's a lot of fun you know. It's always fine. When you watch you know james bond film and you get those recurring characters like a felix. Something or moneypenny. And i love that. Harry palmer has his supporting cast pops up to and. This is a very colorful character which i appreciate..
SpyHards Podcast
"billions dollars" Discussed on SpyHards Podcast
"I heard about this being edited out. And i wondered where fell in film. Do either of you not yet sis. Thirty two seconds were cut from the movie. As there was a scene in which a beatles song was playing in the background in finland was it. The scene where harry palmer goes into latvia and meets up with that basically ragtag crew. That are the you know the secret You know spy agency or whatever that he's trying to track down. It's kind of all a ruse but there's a reference to the beatles in that scene but the beatles are hurt and i was wondering if that's where it was placed. I don't know i can find out for you and you can add it to your show notes. Cetera assures scholars will tell you exactly when that was because apparently. It is on the vhs vision right because it goes. Hey english by a beatles record and you'd like yeah. Is that what you ask. Lingers people often metoo by record well. It was the sixties. What do i mean at least onto the topic. What did you think of the soundtrack. I actually really dug it. I wasn't as impressed with the score for funeral in berlin. But i really dug the score for april. And this one. By richard rodney bennett. It's very distinct. It feels you know you can totally feel some of the score as being similar to something you would hear one of ken..
SpyHards Podcast
"billions dollars" Discussed on SpyHards Podcast
"It feels too big to me. For harry palmer like when you look at what. He's dealing with the missions. He's on in the first two either. Buy those missions. And i believe that this is the guy they would send on these missions in this movie. I'm looking at it. Going like where superman we need. Superman and because the biggest the biggest action scene in hip file is the tumble on the says and then followed outweighs Ten sanctions a funeral. Which is an exchange of a coffin over checkpoint. Charlie yeah yeah and this is what a thousand troopers being drowned in a ice lake. I'm curious from you to how did you feel. Maybe starting with shane about the whole concept of this supercomputer running things like did it feel. I don't know does it creaky now or is it something that still holds up completely dated. I mean there's more power in my iphone so again you've got to put yourself back in the sixties where this was a big deal So you know. I don't hate on the film for that. And i think at the time of writing. I mean Land dayton was the first author to publish book via word processor so he was very into his technology. So i was writing that in the sixties that it would have been bang up to date so i don't hate on it for that. Let's just you know when it was published. But what you scott. I just saw and just thought lander the entire time. Yeah i you know. I'm on the same page as you scott. In that i guess there was a real nineteen sixties anxiety about computers artificial intelligence You know scott. And i both Are very familiar with the original star trek series and there's a lot of episodes where computers have taken over a planet or have caused some sort of horror and so i was completely along for the ride even though it feels so absurd. Now you know we're still grappling with the ramifications of ai in the future and to see them doing it in one thousand nine hundred sixties is always kinda fun where you're punt you know putting in punch-card stuff like hearing that classic computer voice. It's like i enjoy that. Like i honestly would have loved harry palmer story where he is going up against the sixties computer. Just the one that didn't tip into such a broad almost cartoonish Payoff yet. I want to say the the verbal chess match between the billion dollar brain in harry palmer. I really thought we were going to get that thought. The given the trajectory of the first two we would see more of harry palmer having to match wits with a computer and just like the dry wit versus the complete logic of donald sutherland. But then also talking about the wet you know i referenced in our conversations they how this film second half is bond in but then when you look at that final scene in texas where General midwinter is gonna kill harry palmer and unlike bonnie doesn't have a gadget. He doesn't have a bond girl stood behind the villain. Who's gonna knock him on the head. He has to rely on street smarts and his wits to get the general to look the camera to see where leo new begins. I thank god for him. That at that moment. Karl malden was shredding paper staring at the camera. Obviously how convenient..
SpyHards Podcast
"billions dollars" Discussed on SpyHards Podcast
"That wraps up basically what i've got on Billion dollar brain. So i think we move on crack well. Shane guest of. You've come back to this film. He wasn't a big family sort originally. Has you'll revisit changed your opinion. I'm afraid it hasn't. I still very much see this as movie of to hobbs What i will say is i've been pretty negative on this A couple of positives really I love the the selection of helsinki as a location and if finland was used for most of the european seed so the scenes in latvia were filmed in in finland having been to fit on. It's a very quirky place. Bright standard looking european cities. So i think helsinki was a good choice for a lot of the filming. I liked the camera shots. I think it was beautifully. Shot how you how you see finland. It looked pretty desolate parts but nonetheless beautifully shot so that they were elements of the movie. That i liked i also liked. I did laugh at some of the humor. Particularly the scene. And i think every brit will laugh at this when he's in the zone with you know the hot woman and column walden meows. Invited me wants a brandy or vodka. His cup let's be good. I thoroughly agree with him up to being out in the snow for that long i could. I could actually imagine me saying. I thought you were as you say about the soreness in just being awkward. Because we do that well. I lived in sweden for two years from that being awkward out. He kidding No you're right. I mean just complete awkward are and actually i. I remember when i was seventeen. I was in strasbourg at a conference and being very naive i went into the sole owner of this conference and they were actually three naked. Scandinavian women in there. And i did not know where to look so i i under mr cain. In this regard. I remember when i was in australia. I was at this hostel. And my friend. And i were like. We're the showers. No oh the communal showers there just right around the corner and we were like oh.
SpyHards Podcast
"billions dollars" Discussed on SpyHards Podcast
"So i feel like ken russell's not the best to keeping track of history in terms of what he to do but either way he wanted to do one of those projects and harry saltzman said. No no no no dude dude. That's not what you wanna do. You wanna break into the mainstream and then make those movies. You should really do this. Third harry palmer story billion dollar brain and you know ken. Russell had a relationship with michael cain. Because they'd worked together in the past and michael. Cain was very much in favor of bringing ken russell onboard so ken russell signed on but there was a funny anecdotally said ken. Russell was the world's worst businessman because he received no guarantee from harry saltzman whatsoever that he would get to do the movies he wanted. Do in in you know It basically in trade for doing billion dollar brain they classic hollywood one for them one for me. He forgot to sign off on. Actually getting the one for project right. How did that work out for. His career was fine but You know short term. I'm sure it was a little frustrating. They brought on the writer. John mcgrath. Who is mostly known for tv. At that point he was a writer. Director of tv project called diary of young man and him in russell had worked together on an episode of the bbc series six from nineteen sixty four as writers and mcgrath it also with kane on one hundred nine sixty one tv special called the compartment and so it was three guys who had you know common ground in terms of their experiences in relationships. I and it seems like basically what happened was russell and mcgrath read. The novel didn't understand it and decide to just focus on what appealed to them and that's what they have been quoted as saying. I don't know that that's true. Because i have read that. They've said that the novel is fairly close to the film. Is that true shane. Yeah absolutely it's unfair to. I think it's one of the closest to the actual novel and some of the others. So i'm wondering if it's more like they got the notes but not the music where they understood all the plotting but ken russell if you've seen his other movies. He's not a narrative fixated guy like he doesn't really care about narratives on that scott..
SpyHards Podcast
"billions dollars" Discussed on SpyHards Podcast
"I feel that billion dollar brain really moved move so far away from the original two movies in this trilogy. Yeah that's really interesting. What you say there about action the action stories versus the spy stories. I kind of feel the same way where you know when i was a kid. I was I texted scott the other day. My top ten. No sorry my top bond rankings for the for the movies that i wrote when i was thirteen and all the ones that are near the top are the ones that involve sharks scenes nowadays if i write that list. I'm looking a lot closer at honor majesty's secret service. Or you know the casino. Royale with daniel craig the ones that take it a little more seriously and yet the chris file for me watching that movie was a real revelation because it was a spy story. I never knew. I want it. I would. I would agree with that. And i think at different ages like different things or different moods i mean i still enjoy the euro spy movies. I love bond movie. Because i know what i'm getting i think with billion dollar brain. It was such a departure from the first two. That i that i was in shock. Full to be honest with you. I think that the billion dollar brain is as we say in football or soccer back home. A game of to. Hobbs where you had the finland and latvia scenes and then when it moved to the states when it moved to texas it was so jarring for me and it went from that gritty kind of spy movie to a bombastic bond movie many ways and i just find it too jarring. I found that a interesting about what you said that. Shane is found funeral in berlin to be your the perfect balance. Unlike the goldilocks effect. Almost because i found it. Chris royal personally to be fall to a realistic gritty. I'd like funeral in berlin more because it had a little bit more of that bonfield tour but it sounds like you wouldn't say that about it. Yeah no i think it did. But it wasn't bombastic. Bond of you talked about the the fight scene. Outside was at the albert hall and chris file and how much you loved the scar much. I'm looking forward to the youtube video. You creating that with campos kobe. If it will happen it will happen. I any excuse to push him downstairs. Exacting there is obviously a bit more action funeral berlin. But i just think first of all. I'm a huge fan of building a city. I'm a huge fan of cold war history. I have another podcast which is all about the history of east germany so that has a law in its favor but there are so many iconic landmarks and sights. I've often gone to berlin and how to how to scotch and looked at the mercedes benz building and taking myself back to the funeral in berlin. Era So the the movie does have a lot of emotional attachment for me. I'm guess i'm glad you didn't invite me on to to do that. Show with you. Because i think i would have been emotional attachment to it might have gotten in the way. No i totally understand. I think we all have those movies to just speak to us in a way that maybe other people just don't get.
SpyHards Podcast
"billions dollars" Discussed on SpyHards Podcast
"Also this is not politics or football which is so tribal. Now you can have different opinions as you guys have done on your show particularly with the chris file and we see in the spy re community as well. There's no right or wrong. Other than roger moore is the best james bond. But we'll leave that for another day. So is he your james bond. Yeah he's everyone's james bond. Yeah i i think you're redesign. Listeners will probably come off even more. If i say who my favorite blonde this. So let's just move on to david niven folks david wright well that leases beautifully into wick tackling today so cam. What is the movie of the week. We are tying off the harry palmer theatrical trilogy with the nineteen sixty seven film billion dollar brain directed by ken russell now before we delve into What we know of the film background. Let me. just get out that letterbox dot com synopsis. Any votes on how long it is phil like if Tries to explain this movie. It's about an hour long to read get ready for. It may surprise you to be fair. And billion dollar brain pow power brainpower a former british spy stumbles into a plot to overthrow communism with the help of a supercomputer. But who is working for whom. Wow that's so concise that's a. That's a on the cam. Scale of grading letterbox synopsys. That's that's effective. To the point. I literally full. And i really want to. I can fault other things but not the synopsis. I'll just say to clear. I hadn't seen or heard of this film before we started this. Podcast call so. I have no previous experience with it at shane. You said you had seen it before. We start recording. What were your initial thoughts before you went to revisit this bill so i love harry palmer as a character and in fact. I'm a huge fan of one of my favorite spy. Movies funeral in berlin in my in my spybey here home. I have eight foot poster original cinema poster for funeral in berlin huge fan. So you can then imagine that. I get onto billion dollar brain expecting expecting it to be like a return of the jedi moment in the style was tripping you goes. It's going to be great and sorely disappointed.
SpyHards Podcast
"billions dollars" Discussed on SpyHards Podcast
"An you guys are on it on my up list. We were honored to see there. That was incredible. So maybe just tell the audience a little bit about this february and how it got started. Absolutely i'd read a series of books. Funny enough written by land dayton. They weren't the harry potter. Books was about another guy. Called bernard sampson. And it's one of those things right. I'd read the whole ten books in the series are as i. I really need to talk to someone about this book. And what's happened at. My friends are into beer. Football and women the not into spy let Family definitely on. So i thought. Hey why not start a podcast and chat to other people around the world and get a conversation going in. That was way back in two thousand seventeen and since then we're regarding for quarter of a million downloads of the show. And i always bill. I really appreciate the introduction that you've given me but quite honestly i see myself as a curator. I don't really see myself as the spy authority. And if you join our facebook group i or you're on scott. There are some scholars spice scholars on that page. Who really do know that. Stop so my goal to bring those people on the show and discuss books spy books by movies by tv. Etcetera i bilas bhai spy fans force by fans and the. Uk's radio times recently reviewed us and called us espionage entertainment which is very flattered about. Oh that's incredible. I remember when we did our hip. Chris file episode and i think scott posted a link there and there was some comments on the chris..