40 Burst results for "Hints"
Thinking Crypto News & Interviews
A highlight from XRP PUMPS AND DUMP ON BLACKROCK XRP TRUST FAKE NEWS!!
"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, XRP pumped and dumped this afternoon on news of BlackRock filing for an XRP spot trust. And this filing was actually on the government website in Delaware. So that's where people were going a bit crazy, like, wait, it's legit, right? It's not just a rumor. It's not somebody just tweeted, but rather the filing was actually on the site, but it was a fake filing. scammers, So these these people are getting more sophisticated and more bold. You know, the fact that you're taking BlackRock's name and going and filing a fake application. I mean, come on. Right. We don't know who did it, but, you know, maybe they're playing the market where they're doing some quick longs and then shorting it. Right. Because right away, the market dumped after the news came out that it was a fake filing. So TLDR the here, though, is that you can see the market is clamoring for a spot ETF, whether it be Bitcoin, Ethereum or XRP. This is where scumbag regulator Gary Gensler and the SEC need to act. Approve the goddamn ETF already, right? You got commissioners like Hester Peirce and Mark Ueda who are coming out saying the ETF's spot ETF should have been approved years ago. So right now we're just being delayed by the scumbag regulator, Gary Gensler. So here, Eric Balcones of Bloomberg said this is false, confirmed by BlackRock by me. So he contacted the folks at BlackRock. He said some wacko must have added using BlackRock executive name, et cetera. Come on, man. So, you know, it's it's so silly. And like I said, they're getting bolder. The fact that they're filing and putting this stuff on the website now because of the XRP fake filing that brought into question the Ethereum trust filing, which took place recently, I think a couple of weeks ago or one or two weeks ago. A lot of people are now asking if the Ethereum trust filing was real after seeing the XRP trust was fake. He said, yes, the iShares Ethereum trust is real and was confirmed via 19B -4 filing on Thursday. Only the XRP trust filing was fake. So I think the TLDR here, though, is once again, the market is clamoring for an ETF. Everybody's winning in anticipation. And these ETFs will have a price moving ability. You know, you're going to see the markets pump off of this and we're going to see Bitcoin spot ETF approved eventually all coin ETFs, right? Individual as well as baskets. So Ethereum, XRP, Cardano and the others. Right. It's just a matter of time. It's all going to happen, folks. I think we see the writing on the wall, the direction we're heading in. So I'm very bullish overall. It doesn't matter that this was a fake filing, because I know eventually these products will be built, especially the fact that XRP has the legal clarity in the United States. I mean, you know, obviously the SEC took a big loss, so very bullish overall, despite the fake news. Here's what attorney Fred Rispoli had to say regarding the fake filing. He said, one, it is indeed on the Delaware Corp permission website. I searched this all the time to look up the right entity to sue in my legal cases. He said, number two, could someone file a fake entity? I'm only familiar in filing these in California and Arizona. And yes, I could easily file a fake entity on a real corporation commission website in those states. Maybe it's hard to do in Delaware. So I didn't realize you can fake applications through a government website like so. It's interesting, but at least we know now, right? You live and you learn. And we got to be careful because these scammers are trying to, you know, manipulate the markets. If you recall, there was fake news around the Bitcoin spot ETF for BlackRock being approved. And that, you know, Larry Fink had to go on TV and say, no, that was fake, you know, but you can see the market is really ready for this. So speaking of Bitcoin spot ETF, though, Michael Sonnenshine, who's the CEO of Grayscale, tweeted out this morning, it's been a 10 year dress rehearsal. We're ready for the main event. Is he hinting to something happening soon? Because we got news here from Nate Guaracci, who is the president at ETF store. And you know, he lives, breathes and eats ETF. So these guys know everything about it. He said a spot Bitcoin ETF approval could come this week. And he shared an article here with him and James Safer. So it's possible something may happen this week, you know, no guarantees, of course. But for example, James Safer has been saying he's anticipating January 2024 that that's when this is going to happen. And by the way, I'm interviewing James tomorrow. So we're going to talk about all this news.
The Charlie Kirk Show
Fresh update on "hints" discussed on The Charlie Kirk Show
"Brought to you by the loan experts I trust, Andrew and Todd at Sierra Pacific Mortgage at andrewandtodd.com. Joining us now is John Salier, senior fellow and director of university policy at the National Association of Scholars, a great organization and also contributor at The Wall Street Journal. John, welcome to the program. Several stories here I want to hit with you. The first of which is inside Ohio State's diversity equity inclusion factory. You obtained 800 pages of the diversity faculty recruitment reports from Ohio State, the Ohio State University. Let's add insult to injury. It's been a tough couple days for the Buckeye faithful, but beyond a football game in Ann Arbor, this is real damage to Ohio State University. What's going on here? Yes, thanks so much for having me on. So part of my role is to investigate what's happening at universities, and I think you can't understand the university culture and all of the problems that we can see in it from the outside without looking at how faculty are hired. And so I was given a tip from a professor at Ohio State that every single search committee in their college of arts and sciences, which is a big part of the university, was required to submit a diversity faculty recruitment report. In order to bring job candidates onto campus to interview them, they had to do this. They had to describe on this forum how the search committee discussed diversity, how they used diversity statements to evaluate candidates, and how each of the candidates they were proposing to bring to the university contributed to diversity, equity, and inclusion. And now there's something very interesting about these documents because Ohio State stands out for its commitment to DEI. They have 189 diversity officers who are compensated at 20 million dollars a year total. Their president two years ago announced a massive DEI focused faculty hiring initiative saying that we're going to hire you know as many as 150 new professors who focus on diversity, equity, and inclusion. And so what these documents really do is give us an inside look into what universities mean when they say they're going to invest heavily in DEI. And the results are not pretty. So I just did the math. So that's 20 million dollars divided by 189 people. That's an average of 105,820 a year average in Columbus, Ohio. You can live on that in Columbus, Ohio. Great, great spot. Low cost of has become, both gubernatorial and from a state legislative perspective, a red state. The taxpayers of Ohio, on all elections, they do not want this DEI thing. If a candidate like Sherrod Brown were to run for the United States Senate re-election on the message of DEI, he would lose by 10 points, right? Tim Ryan, when he would run against J.D. Vance, if he would say look, I want black-only dormitories and white people are to blame, yet you're not going to win Ohio with that message. I'm saying this for a reason is that the Ohio State University, which is a flagship publicly funded institution of the great state of Ohio, is out of lockstep with their voters. This is not State University of New York, Albany, where critical race theory is really embraced by the Manhattanites. What's going on here? How could something so unpopular be funded so generously? Yeah, it's really remarkable. You would expect this kind of initiative in the University of California system, but this is just about the worst I have ever seen. Look, we have positions in freshwater biology, molecular genetics, a whole just wide array of sciences, where search committees very explicitly said we're going to focus on DEI and prioritize it heavily throughout the hiring process. If you look at the way that they actually evaluated these scientists, it involves basically the use of a political litmus test throughout. I mean, it's really remarkable and you're exactly right. This is happening not in California, not in Illinois, where there's not really any, you wouldn't expect political pushback. This has happened in Ohio and it's been allowed to happen in Ohio, which is really, I think, stunning because you're right. This kind of thing is remarkably unpopular even amongst faculty. When I made this request, the College of Arts and Sciences at Ohio State emailed all of the faculty in the college and said we're going to turn over these documents to the National Association of Scholars. What happened after that was I got multiple faculty members reaching out to me telling me you need to look here too, telling me here's some tips. I heard from one faculty member, look, there is a total sense of impunity and ultimately that's not just a problem with a few rogue actors, that's ultimately a problem of priority that starts from the top. And I think that there's really some, you know, anyone reading this should think really hard about how we got to this point where Ohio State is the exemplar of, you know, basically the craziest DEI policies you could possibly put down in writing. Yeah, I mean, MAGA might be winning politically in Ohio, but DEI is winning culturally and academically. I mean, Ohio used to be a battleground state, now it's not. It's a place where the media libels Ohio as a white working class revolt. Okay, great. I mean, there's some truth to that, I guess, but I don't know why they have to racialize it. But again, the average person in Athens, Ohio, whose grandfather used to work at the steel mill that got shut down and they've seen their wages go down, they want to hear that there's some bureaucrat at Ohio State University earning $108,000 a year. So let's walk through this. What does a DEI czar do? Like, what is their day-to-day job? You said there's 189 of you know, in some ways it's a mystery to me how they could possibly employ 189 people in these kinds of roles, but the documents I acquired give a few hints as to what they do on the day to day. So for instance, there was this really crazy moment in one of the documents. It was a search for an astrophysicist, so a professor who studies astrophysics and teaches astrophysics, and they said that they required a DEI statement, so a statement from a candidate on how they contribute to DEI. And they then go on to say that the DEI statement was given equal weight to the professor's research and teaching statements. You know, research and teaching are really the only two other things professors do. So they're saying that DEI was on par with the most basic thing a professor should do. Now, what's really interesting about that document is then they make a comment right in those notes that say we prioritize DEI just as much as teaching and research. They said that this was basically explicit instruction in the diversity faculty hiring training, which was conducted by, you might expect, some of these diversity officers. So often what these diversity officers end up doing is they end up telling professors what they should do. They end up telling faculty this is how you should prioritize these diversity criteria throughout the selection process and in other parts of the whole university life. I want to build this. This is such an important detail. So 20 million dollars a year, 189 people that basically create a DEI administrative state that are like a permanent DEI deep state at Ohio State University. So at the astrophysicist has to bend their knee to that all white people are racist or whatever garbage that Nikole Hannah-Jones is publishing.
Simply Bitcoin
A highlight from BREAKING: Bitcoin Spot ETF to be Approved Friday!? | EP 866
"It's all going to zero against Bitcoin. It's going up for everyone. Bitcoin! You're against Bitcoin, you're against freedom. Yo, welcome to another episode of Simply Bitcoin Live, you're your number one source for the peaceful Bitcoin revolution covered breaking news, culture, and medic warfare. We will be your guide through the separation of money and state. Today is November 13th, 2023. I hope everyone had an amazing weekend. Breaking news, it seems like the deadline for whether or not the spot Bitcoin ETF will be approved in 2023 is going to be November 17th. It's coming up. It's coming up in a couple of days. What are they going to say? Are they going to approve it? Are they not going to approve it? I definitely think it's going to be one of those things where it's like pump up on the news and then giant sell off, you know, because that's what always happens if you've been in the space for a while. But it's it's absolutely bonkers that we've we've gotten to this point. Now, we've talked a lot about what the downsides and what the upsides of of a Bitcoin spot of a spot Bitcoin ETF are going to be. Obviously, a lot more liquidity going into the market. I definitely believe it will make number go up. But like Caitlin Long said when she came on Simply Bitcoin IRL and Lawrence Lippard, you know, it also risks for for rehypothecation of Bitcoin in the selling of paper Bitcoin. Now, obviously, I don't think it's going to be as easy to do than how they did that in the gold market due to gold's physical characteristics and due to Bitcoin's unique ability of being able to be transported and custody very easily, you know, for pennies on the dollar, you could send it anywhere around the world. You could take self custody of Bitcoin, millions, billions, theoretically trillions of dollars by writing down 12 words, 24 words, not to mention, you know, using multisig if you want to beef up your security setup. So actual the ability for you to take custody of it very quickly and very efficiently, I think is going to protect it from what they did to gold. But that's not to say that they're not going to try. Like I think the long term play here based on the FinCEN, you know, what's going on with FinCEN, which we're going to talk about tomorrow, how they're demonizing mixing services. But the things are so broad that it's like a single use address counts as of some type of mixing. And then the words are what I would call the Freudian slip from Elizabeth Warren, basically finally saying the quiet part out loud because Bitcoin exposes all incentives after all, finally admitting that, you know, self custody is some type of this highly sophisticated way of money laundering, of skirting regulations. Right. Like and of course, they're planting the seed. That's why they come up with these words, unhosted wallet, you know, custody wallet, non custodial wallet. Right. They're trying to plant the seeds in the uninformed populace that somehow self custody is dangerous. Well, the reason they're doing that is because self custody is the revolution. And if enough people take self custody will win and there's nothing they can do about it. So it's pretty crazy that the that the date to come is on Friday. But again, all of this would be rumors. All of this would be a big nothing burger. But actually, the CEO of Grayscale, which is one of those companies they hold up, not only do they hold an F ton of Bitcoin, but it's also one of those companies that have applied to file a spot Bitcoin ETF, has been hinting at some things on Twitter. He tweeted it out very, very early this morning before right before eight a .m. Eastern Time. So, I mean, it looks like. There could be a potential approval of a spot Bitcoin ETF on Friday. And if it was one, it wouldn't just be just one approved. There'd be multiple spot Bitcoin ETFs approved. Right. So that's what's going on right now. That's the breaking news. We're going to cover it like always. We're going to analyze it. We're going to show you guys all the details. We're going to make the case like we always do. Anyways, no more delay. I want to bring up my legendary co -host, always optimistic, already smiling, giant smile. The chat's on point. The chat is losing their mind today. It's totally irrelevant to the conversation. Don't go look in the chat. It's probably inappropriate for you guys at work. But yeah, chat's undefeated over here. They're cracking me up. Anyways, yeah, Nico, what a crazy weekend. And it really just goes to show what we've been talking about on the show for months now that we are in the then they fight you stage. This is the separation of money and state and things are getting frothy, not only the price, but everything going on around Bitcoin is starting to become a point of contention. I think we've been talking about this all year, that the stance on Bitcoin from any quote unquote authority figure is the defining conversation right now. Of course, this was all going on behind the scenes and now it's becoming public and it's all happening publicly. And this is why I think there is so much uproar about it all, because now finally, everything from behind the scenes is being made public and being brought to light. So I think it's more important than ever to do what we always tell you guys to make sure that your Bitcoin is in cold storage, that you don't have Bitcoin on exchanges, that you are huddling them Bitcoin because we know that they don't want us to be in the escape route. We've said it before. You know, they don't want an exit route. And Bitcoin is that exit route. And we've been telling you guys constantly the on and off ramps are the chokeholds, like we've known this for a while and now it's heating up. So hopefully we can move forward. Hopefully there will be pushback. And as an individual, if you're on the Bitcoin standard, the Bitcoin circular economy already, what's this mean to you? Just some roller coaster rides and part of the Bitcoin fund. So we'll get a wine. All right. I'm getting trolled. I'm getting trolled. Go. That's another thing to kind of bring up. And we'll bring up the latest development on the FinCEN and stuff that happened over the weekend. We'll cover that on tomorrow's episode. But one thing's for sure, guys, we say this in the beginning of the show. It is our motto. We'll be your guide to the separation of money and state. We are definitely entering the Then They Fight You stage. That's for sure. You have to take action. Get involved. Don't be just a bystander looking at what's happening. Get involved. And unfortunately, I think over the long term, I do agree with the theory from the book The Sovereign Individual, where information technologies and the ability for individuals to opt out, opt into whatever money they choose to use is going to make politics irrelevant over the long term. I completely agree with that. But what worries me and what keeps me up at night is the transitional period. And during the transitional period, I do think that politics are somewhat important. I do think that they can make life very, very difficult for you if you are holding Bitcoin and you live in a certain jurisdiction. So unless you want to keep moving from place to place, to place and place, it's important that you get involved, right? Whether that is making memes, commenting, making videos, just highlighting the lies and the misrepresentations, like what happened with Elizabeth Warren in the Wall Street Journal a couple of weeks ago. The more attention we call to that, the better we position ourselves, right? And the key is to win over the adoption race. We have to orange pill as many people as humanly possible, as quickly as possible, so that there's enough people holding Bitcoin in the US that if any politician tries to recommend anti -Bitcoin legislation, it becomes unpassable. And then the example that I would give to this would be the gun lobby, right? Any time you tried to pass a gun law in the United States, because so many people own guns, it just becomes impossible to pass, right? Hopefully we get to that much Bitcoin adoption in the United States very quickly, that any type of Elizabeth Warren type of regulation, any type of maneuvering and scheming just gets shut down just because it's so unpopular with everybody. But we're not we're not quite there yet. Bitcoin right now is still in the shadows. Like that's the reality. Like people know about Bitcoin. People know about crypto. They know about these things. They still think crypto and Bitcoin are the same thing. But it really comes down to us to really educate the masses. And I'm not talking about just me and Opti. I'm talking about everyone in the chat. Take it upon yourself. Take agency, take action. Orange pill as many people around you. Right. This is all about the individual pushing this forward. That's how we win. We win over the hearts and minds of people. It's not left versus right. That's the divide and conquer strategy. It's really the party of orange, party of peace, Bitcoin, opportunity, prosperity, versus a party of green, which is a party which is the future they want us living in, which is a party of central bank digital currencies, nihilism, slavery, confiscation, all of that bad stuff. So you got to decide what future do you want your children to be living in? I want my children to be living in a Bitcoin future. Well, we got to stand up and stand up for your right. Anyways, everybody, let's let's move on to the numbers. Yeah, I know, right. It's a good line. It's a good line. All right, everybody, let's move on to the numbers. We got a lot to talk about. Let's check it out.
Bloomberg Daybreak Europe
Fresh update on "hints" discussed on Bloomberg Daybreak Europe
"Of course we know President Joe Biden's not going to be going as well but this is something that you know listening to Vukka Hoekstra there talking about the need for countries outside of the G7 to meet the bill for losses and damage caused by increasingly extreme weather sort of set up one of the really big conversations that we are expecting to happen in Dubai which is where liability the for the likes of China or Saudi Arabia or India indeed will lie when it comes to paying some of those loss and damage bills which has been part of the negotiations at recent COPs around how countries that are acted by climate change can be compensated by richer countries who essentially did the polluting in the past. It's a very controversial issue it's something that involves an awful lot of international diplomacy as well but is central to the conversation that's going to be had in Dubai. Yeah it is but the issue with COP28 is that there have been a number of controversies I mean including because the COP28 president, El -Sultan al -Jubeir, is obviously the leader of the Abu Dhabi National oil company Adnoc which is one of the world's largest oil producers and a report this week alleges that he prepared was to use his COP role to promote Adnoc's interests so there has this is perhaps the most controversial COP gatherings because of the role what is the role of oil in companies the energy transition and how we deal with all of those issues around climate change. Yeah indeed look we know this is going to be again part of the backdrop to these conversations as well but if we listen to some of the conversations that are being had among the scientific community heading into this as well the need for action and the need for steps to be taken is something that it seems to be kind of large consensus I'm looking at comments from Rachel Cletus has been speaking to our colleagues she's from the climate program at the Union of Concerned in Scientists Massachusetts saying that this is a sobering even somber moment for world leaders to be gathering but she says there is an opportunity in the climate space to secure some winds as well but that question around who leads those conversations as well and what will be counted as being a success at 28 also very much in focus yeah absolutely and also I mean just to mention that Al -Jubeir has said publicly that he sees this COP as an opportunity to co -opt the fossil fuel industry actually into tackling emissions so it is all about the sort of crossover and how the climate transition is dealt with well let's turn to the latest comments that we've heard from the European Central Bank's president next spoke you to the European Parliament on Monday let's bring in our Europe correspondent Maria Taddeo. Maria what did we hear from Christine Lagarde in terms of the pandemic bond portfolio the PEP program? to Yes and be more specific this is about the reinvestments because of course our listeners would know and the Bloomberg audience certainly notes the PEP program for the most part has ended this is a question now about the reinvestments you which as know are expected still for the time being to run all the way to 2024 this was the head of the PEP program that used to be yesterday speaking before the European Parliament to me this was funnily enough an interesting Q that &A went somehow under the radar but the content in fact was was interesting for a number of reasons when it comes specifically to the reinvestments I think this is a clearest hint we've had so far that this is now a central bank that's actively looking at the balance sheet and remember this has has been in the site guides now for a few months now this idea that if the European Central Bank were to hold rates and we know that is the case now they would switch from the rate policy into the balance sheet and we know a number of governing council members believe that it needs to be well essentially made smaller to shrink this balance sheet and faster basically so I think was this something that the market expected was going to take place this discussion already from the meeting prior that took place a few weeks ago in Athens but I think we should do an ask to really prepare the grounds for this debate to take hold in December and this look is an important debate yeah okay Maria today in Brussels thank you very much for the latest on that this is Bloomberg you you you take your research to the next level with interactive brokers fundamentals fundamentals Explorer provides comprehensive worldwide fundamentals data to all IBKR clients at no cost dive deep into hundreds of data points covering historical trends industry comparisons key ratios forecasts ratings ownership and more so you can see the whole picture find data faster add depth to your trading analysis and compare beyond plane numbers visit AR dot com pop culture something that touches everyone how we fill our leisure time and how we enjoy ourselves particularly when
The Bill Simmons Podcast
A highlight from Cleveland Shocks Lamar, Dobbsanity Strikes Again, New York Bad QB History, and Belichicks Bleak Season With Cousin Sal
"Coming up, Sunday, football, the cuz, the pet suck, next. This episode of the Bill Simmons podcast is presented by Airbnb. Maybe you're traveling to see friends and family for the holidays. When you're away, your home could be an Airbnb, whether you could use a little extra money to cover some bills or for something a little more fun. Your home or spare room might be worth more than you think. Find out how much at Airbnb .com slash host. This episode is brought to you by CarMax. Patriots promised me they'd win the Super Bowl. That'd be pretty legendary. When CarMax offers an unrivaled 30 day money back guarantee up to 1500 miles. Well, that's legendary too. CarMax never wants you to settle on a car. They want you to love your next car. That's why every car from CarMax has upfront pricing and an unbeatable love it or return it. 30 day money back guarantee up to 1500 miles. Shop a nationwide inventory on your terms. That's car buying reimagined. Start shopping now. Find a car you'll love at CarMax .com. We're also brought to you by the Ringer Podcast Network. I have a new rewatch that's coming for you on Monday night. It is the second movie of, wait, how much did that movie make? Month. If you tell your friends about it, you have to raise your voice when you tell them what the theme is. This movie is from the eighties. That's your hint.
Bloomberg Businessweek
Fresh update on "hints" discussed on Bloomberg Businessweek
"In the US is done with rate yeah and we're seeing swap market pricing in three rate cuts next year which is aggressive especially with Jay Powell being as clear as he could be that higher for longer is here to stay. Yeah and we're going to talk about this you know it's really fascinating a great story it's the among the most right on the Bloomberg about you know we are seeing the consumer out and spending on on this Cyber Monday saw it on Black Friday but what's interesting is the US is really they kind of are ticked off at the US economy inflation has come down but we are still paying more than we were pre -pandemic exactly everything it feels like. Services, goods, Carol I don't know about you the last time you went to a grocery store I feel like no matter what I'm spending $100 dollars even if I'm not buying more than one or two meals for the week. I bought stuff to make a pie 75 bucks it was unbelievable. get a little piece of advice don't buy pecans that's all I'm going to tell you or flour or sugar all right we're gonna also get into the trade this year that wiped out billions for investors it is our most read story on the Bloomberg used to be Kind kind of a of safe trade I feel like we're not going to tell everybody what it is but we'll get into it because I feel like we've had a lot of guests saying here's here's what you what should be doing in this environment but it's not paying off yeah the lone hint is it's not going long going short the magnificent second good good good good hit we're gonna get into geopolitics Israel Hamas agreeing to extend their truce in Gaza for two two more days and then we've got Elon Musk in Israel so we're gonna get into what that means and then we talk a little about the venture capital venture capital market Bailey it's not been an easy one no it's been a tough environment interesting to see what's going on the other side side of the pond yeah exactly good point overseas speaking of overseas Steve Schwartzman is overseas Blackstone co -founder chairman and CEO looking at European real estate and more we're going to get into that and then we're gonna talk about what's going on in some college campuses when it comes to recruiting right now it's market countdown to the close starts right come down to the close Bloomberg's comprehensive cross -platform coverage ahead of the US market close starts right now this is the countdown to the clothes Romain Bostic alongside Katie Greifel we're joined right now by our colleagues Carol Master and Billy Lipschultz in today for Tim Cenovick welcome to our audiences across all of our Bloomberg platforms television radio originals and our partnership on YouTube happy Monday Carol master not a whole lot going on in the market today but of course all the about talk consumer spending yeah absolutely right Cyber Monday Black Friday looks like the consumers out and spending but I mean in what a great deep dive by our Bloomberg news team basically is looking at what we are spending for everything we talk constantly right about inflation being down a lot in the past 12 months no doubt about it but prices are still higher than they were pre -pandemic levels so you're talking about
Stuff You Should Know
A highlight from How Scuba Works
"Get ready to dive into the future with Technically Speaking, an Intel podcast, the groundbreaking podcast from iHeartMedia's Ruby Studios in partnership with Intel. Each episode unveils the incredible ways AI technology is transforming our world for the better. Join host Graham Klass as he speaks with the experts behind the technological advancements that are powering a brighter and more accessible future for everyone. Listen to Technically Speaking, an Intel podcast, on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. Following in your parents' footsteps is never easy, especially when mom or dad happen to be superstar athletes. What kind of lessons do hall -of -famers like, oh, I don't know, NBA legend Tim Hardaway and NFL icon Kurt Warner impart on their kids as they chase professional sports stardom? How do they teach them the importance of prioritizing health and how to overcome adversity? Well, you can join Heart of the Game as they explore these questions and more with some of the greatest families in sports. Listen to Heart of the Game on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. Welcome to Stuff You Should Know, a production of iHeartRadio. Hey, and welcome to the podcast. I'm Josh, and there's Chuck, and Jerry's here, too, and it's a good old -fashioned barn burner whiz banger of an episode. I ran out of weird colloquialisms. Oh, yeah? Yeah, just now. Didn't you hear? Yeah, but I just figured you were still doing them in your head. No, I was frantically grasping for another one in my head, and it was just dust and a tumbleweed. So this is sort of continuing our underwater series, we'll call it. Yeah, this is so Stuff You Should Know. We've done stuff that's much more specific about the general category that we're talking about, and now we're finally doing the general category. Yeah, we did the diving bell. We did the butterfly. We did cave diving. In fact, cave diving was released as a select just this year. Yes, such a good one. And do I need to remind you about the other related episode? I forgot about that. I'll give you a hint. I remember the scuba cat episode. Didn't you interview scuba cat? Oh, yeah, I mean, for those of you who don't know, the short version is many, many years ago in the very early days of the podcast, occasionally we were sort of told to do certain things as episodes. Unspeakable things. And two of them really stand out to me. One of them was scuba cat. I know what you're going to say for the other one. I know you do. Which was this guy who trained his cat to scuba dive, and it's literally like a blurb or maybe a little fluffy news piece at the end of a news program. And they're like, do a Stuff You Should Know episode on this cat and this guy. Why, though? Do you remember? Did they just want page views or something? I guess, or else that guy happened to be friends with whoever owned the company at the time. All right. So I think there was an article on the website we worked for, and they were probably just trying to drive people to that. So we did one on scuba cat. I would really love that just to be scrubbed from the archive. Well, way to go bringing it up, then. What was I going to say, Chuck? Oh, wasn't this thing in like a little submarine kind of? Isn't that what the scuba diving was? I don't think so. I think he built him a little outfit. Oh, OK. Wow, I don't remember that. A little thing with like a big bubble mask. OK, that's worth an episode. We should redo it. We should do a scuba cat redux. What's the other one? I know we're going to say it. We could say at the same time, I think it's going to be... Three, two, one. Tenovators. Tenovators. Yes. What can you do with an Altoids tin? Yeah, for real. Like, I don't know how that one came up either, but we were instructed to do an episode on tenovators, and they were interesting, but not episode length interesting. Even when they were six minutes long. Yeah, and an attenovator, just for those of you who don't know, they take Altoid tins and they do things with them, like turn them into radios. Maybe they hold coins instead of Altoids. It's just repurposing. Yeah, exactly. It's repurposing an Altoid. Tenovation. Very well. And we always talk about jackhammers in the sun. That's because we're literally too ashamed to even mention those other two, but here they are. Go listen to them. Just quickly wanted to say I got back from Mexico, and I did not scuba dive. I snorkeled. Oh, yeah, it's fun. And I didn't... I mean, I love the experience, but I learned that I, and especially my daughter, are free divers. Oh, yeah? She couldn't do it, man. We got her... I mean, she loves to swim more than anything, and we got her in all the gear, put her in the water, and she was pitched a fit, quite frankly. Oh, like she couldn't breathe through the tube? She does it in pools. It just... When you're eight, things happen, and you can't explain why a kid will dig in, but she wasn't into it. We were very frustrated, did not handle it well. She asked to get back on the boat. She got back on the boat and cried while we snorkeled. We're like, we're out of here. We're going to do it. You know, you'll be okay. And then once we were done, she asked the scuba guys or the snorkel guys, can I just get in with my mask and free dive? And it was in Mexico. And they were like, sure. Right? And she did, and she turned into a dolphin. And I recounted this on Instagram. I took some great pictures of her just swimming like no kid has ever loved swimming before. And it was just a big lesson for everybody. I know what happened, though. I think, unless I'm misreading it, she got claustrophobic from having to breathe through that tube. No, she does it all the time in pools. What it was, I think, was wearing the life vest keeping her up on the surface. Oh, okay. Well, you left that little detail out. Well, I mean, that's part of snorkeling is you got a vest on so it keeps you up top. And she was like, no, no, no. I belong down there. My home is the sea. I see. I got you. Okay. Well, that makes a lot more sense. I guess I was just projecting onto her because I used to get claustrophobic trying to breathe through a snorkel. Well, a lot of people on Instagram supported that and said, you know, I have a hard time with this equipment, too, and I love to swim. But it was really that life vest, I think. Okay. All right. Well, we finally established the root cause then. Yeah. But here we go with scuba. Oh, okay. I guess. Okay. So what does scuba stand for, Chuck? Self -contained underwater breathing situation. Appomattox. Appomattox. Apparatus. That's right. Scuba. It's actually like an acronym, but it's so used, so widely used now. It's a lowercase word. I'm not sure. Oh, really? Yeah. I mean, like, it's not. Nobody does it with capitals and periods or anything like that. It's just lower. It's a word. It's its own word now. It's almost lost its meaning as far as, like, the acronym goes. And yet, it's gained so much meaning over the years because as scuba has been around for over the decades, more and more people have found the joy of going underwater, and I heard you laugh at me, by the way, and breathe. If you breathe fully underwater, no snorkel, like, your head is nowhere near the surface of the water. And it doesn't need to be, like, significantly distant from the water. It can just be, like, a foot below the water. But you're breathing underwater. It's an amazing feeling for sure. And a lot of people have discovered that over the years and said, scuba's the life for me. Well, as of December 2019, you had scuba dived once. Yep. Have you done it since? No. And I'm actually a little troubled because I read that you're supposed to go, like, three or four open water dives, and I only went on one. So I've been under the impression that I've been certified to scuba dive all this time, and I'm like, is that true? Like, I can't remember where my card is or anything. So I wonder if I actually wasn't fully certified. Hmm. Or satisfied. I would find it very dissatisfying if that were true. Well, do you want to do it again? Because I didn't get a good read on you in 2019. I didn't know you then like I know you now. Maybe, because before the reason I didn't like it is because it made me seasick. Like, the air mixture did not sit well with me. And then getting on the boat in between dives made it even worse. Mm -hmm. So I was like, I don't feel like doing this ever again. But I think enough times past that it's possible I would try it again. Well, I want to get certified now for sure. I did anyway before, and we thought we'd wet our beaks with snorkeling. Mm -hmm. The big problem I had, man, was the fins. I mean, there were a lot of currents, and I just felt like I couldn't go and get anywhere. Yeah. And then at the end, when Ruby was free diving, I did the same thing. I took off all my stuff except for my mask. Mm -hmm. And I went down there, and I was like, all right, well, I feel like I can swim again. Yeah. It takes a lot of getting used to, because it's meant to help you, and it does if you are familiar with it and comfortable with it. But if not, it's all encumbrance. It makes everything difficult. And, like, yes, you just want to take it all off and just free dive, like you're saying. Yeah. Emily was cruising around. But, you know, we saw a little, my first, like, coral that I've ever seen, like live coral. Uh -huh. And it was beautiful. And, you know, the little stripy, bright fish, and I was in there with those guys for the first time. And it was remarkable and amazing. Was it a Dory or a Nemo that you saw? Oh, I don't know. It had, I think, yellow stripes. I don't think it was technically a clownfish, although maybe they're all types of clownfish. I'm not sure. What's a clownfish? I think, like, a Dory or a Nemo. I saw this one big thing that was, like, the size of a dinner plate, another big, flat guy. Oh, wow. He was cool. And then Emily saw a sea turtle, which I did not see. Oh, neat. And then we also saw their efforts to, you know, with artificial reefs, with, like, these PVC sort of pyramids that they were building down there.
WTOP 24 Hour News
Fresh update on "hints" discussed on WTOP 24 Hour News
"Travel period. It was. TSA screened more than 2 .9 million passengers at U .S. airports yesterday. Didn't take long for retailers to take over former Bed Bath and Beyond stores after it filed for bankruptcy and closed its locations. Burlington has leased 44 of home. Barnes and Noble, HomeGoods and Michaels have taken others, many for leases, half what Bed Bath and Beyond was paying. Roadside travel store Bucky's, popular in the south, is not here yet, but it's getting closer. Bucky's has filed plans for a store in Stafford, Virginia. Bucky's plans another store in Virginia in Richmond. Its stores have as many as 120 fuel pumps. The Dow is down 67 points. The S &P 500 is down just 3. The Nasdaq is up 30. Jeff Claiborne, WTOP News. All right, 142. Campaign 2024 on WTOP. Republican presidential frontrunner Donald Trump is hinting at an expanded role for the military within the
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Crypto Update | Institutional Interest in Chainlink, Circle Considering an IPO
"This episode of Markets Daily is sponsored by CME Group and PayPal. It's Wednesday, November 8th, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Acheson, CoinDesk collaborator and author of the Crypto is Macro Now newsletter on Substack. On today's show, we're talking about a possible crypto IPO, Chainlink, Fed comments, and more. So you don't miss an episode, be sure to follow the podcast on your platform of choice and turn on notifications. Just a reminder, CoinDesk is a news source and does not provide investment advice. Now, a markets roundup. Crypto markets perked up yesterday, with a sharp jump late in the day at one point pushing the Bitcoin price above $35 ,700. It has since settled back some, but seems to be holding on to the gains. At 9am Eastern Time today, Bitcoin was trading at $35 ,400, up 1 .8 % over the past 24 hours. Ether was trading up 1 % at $1 ,890. Elsewhere, Chainlink, Polygon, and TonCoin are up 8%, Solana, Cardano, and Polkadot are up 3%. In macro indicators today, it's time to talk about talking. I'm referring to the attention paid to speeches and interviews given by Fed officials, at events, on television, at universities, wherever, and why it matters. And I mention it today, because Fed officials do like to get out there and deliver their message, nothing new there. But this week seems to be particularly noisy. This morning, I counted 15 scheduled Fed official public remarks for this week alone, and there were probably some I didn't catch. Two are from Fed Chair Powell himself. First, let's look at why they do this, and then we'll get into why we should pay attention, and also what they are saying. They do this for several reasons, one of which is personal branding. Another is broader education, that's part of the job. In case you haven't noticed, the Federal Reserve even has an Instagram account now and posts regularly. Perhaps the most relevant reason, however, is the messaging coming from people involved in setting US interest rates. Each Fed official is allowed to say what they think they don't have to conform to any official statement, and because of this, their comments shed light on what goes on behind the closed doors of the FOMC committee, and what factors could influence the next interest rate decision. For that reason, we should pay attention. This may be hard since there is so much Fed speak, but even just glimpsing at reports of official comments can give a feel for where the collective mood is, and this can help to shape expectations of where interest rates could go from here. So, let's take a look at what Fed officials are saying. On Friday, Atlanta Fed President Raphael Bostic said he thought the Fed was done raising interest rates. On Monday, Minneapolis Fed President Neil Kashkari hinted that he thought there were more interest rate hikes ahead. In speeches on Monday and today, Federal Reserve Governor Lisa Cook said that she hoped that no more rate hikes would be needed, but that escalating geopolitical tensions could spill over into higher inflation. Yesterday, Chicago Fed President Austan Goolsbee hammered home that any move on rates will depend on inflation, not on jobs or economic growth. In other words, heading into a recession will not budge the Fed. There are several other comments as well, and taken together, they give the impression of a Federal Reserve Board that is not in unanimous agreement about the rates outlook, but that does with one voice stress the importance of the inflation numbers. That does not mean other economic data points are not significant. After all, pretty much everything is intertwined. But it does mean that the inflation data is the most significant.
Stephanie Miller
Fresh update on "hints" discussed on Stephanie Miller
"However, what you know gives me hope that you're she in particular and your puppies. I know Jody told us there were three coyotes outside. We're all very excited. So we're all safe to side with mama. It's okay. They're there now. They're very healthy coyotes. They're like, Oh, we had we a, had short key for breakfast. Don't worry. They were triangulating around my car. Well, I was saying, cause your legs look like coyote rollers. So they were, if they took it as a challenge, they're you're like, like eating just like the wishbone with hardly anything left on it after Thanksgiving. They're like, is that even worth it? She's like a human. That's the point. I really feel like they would look at you and just like turn up their nose. Like, that's not worth the effort. No, they were, they were eating. So I stayed in the car. I was like, if it was one, I could have taken him, but three of them. No, they were like, they were judging you as gristle. She's all sinew. Of course, they would have been like buffet. Except, you know, they take a lot of gnawing on through that muscle. Yeah, he doesn't have enough fat on him. Especially if you had that clearly orange puffer jacket on. Clearly orange. I don't think there's anyone on. I go to Chris's Instagram page. It's an orange jacket. I don't think there's. It's a in an orange jacket. There's nobody on earth that thinks that that color is orange except for you. Did you see the color of the walls? These walls? Yeah. These walls could talk. They'd say, why did you pick this color? Yeah, why don't you pick this baby poop color? only baby that's That's the been eating a lot of spinach or something. Listen, it's that time between Christmas, Thanksgiving and Christmas. Nobody wants to work. Don't expect us to talk about anything of any value. Right. I just love the story. Speaking of dog, because you brought up dogs. I hope you rescued a dog over or Katie, over the holidays. Acute, fiery, tiny, tyrant of a dog made quite the name for this animal shelter, took him in and made an online plea. Eddie, the dachshund mix In the post, they said this one year old dog is a jerk. He weighs 17 pounds, backs down from no one. And they just wrote Eddie is a with a poop emoji. Eddie hates other dogs. He would likely have a Bronx accent if he could speak and would make a perfect partner in a bar fight. If you think you're man enough to adopt him, please be our guest, the shelter wrote. We want Eddie out of here because he scares our big dogs. Apparently the honest review worked out. He was adopted a few hours later. I love that review. That's good in Texas. If you're man This enough, is like everyone's thousand pick up. He's a little dog. Yeah, Eddie's a jerk and he's a jerk. Good for him. Coyotes would be afraid afraid of him. Uh huh. Yeah. Right. Yep. Okay. Anyway. Oh, I'm sorry. I was in my I what was hopeful about Gen Z smart sparks viral movement to elect President Biden and Vice President Harris. Did you see that? I just like, you know, encourage people to say who they are and why they're voting for Biden and Harris. It just that's what we love about Victor. She and a lot of the they're they're not old and bitter like we are. They're still young and hopeful. Wait a few years. Yeah. Give it a give it a couple of days. Yeah. Let's see. Okay. All right. Um, where was I? Oh, this is this is the yes, Midas touch first alerted me. Gen Z social media users sparked a viral and to show support for President Biden's reelection that has taken the Internet by storm with Americans of all ages and even celebrities chiming in. It was fantastic. On the other side, let me we'll get to this in a minute. But oh, dear Jesus, which we could tell when my head started to explode, Jody, from the string of tweets I sent from responded many Hassan about, like, I'm Muslim. No know one I is voting for Biden. I'm like, oh, my God. Are you kidding me? You're going to help elect the Muslim ban guy, the guy whose party has already voted to expel all Palestinians from the United States. Oh, my God. Instead of the guy that is negotiated, you know, obviously this ceasefire and release. hostage I mean, can you even imagine if Trump was in office right now? Oh, my God. First of all, he would have let Beatty do whatever he wants. Gaza wouldn't even exist anymore. even I don't want. I can't even. I don't laugh. OK. Oh, and then this was the also. You know what, I feel like my spleen is going to have you send me those. I didn't send you my on you. Why are you my spleen? Let's just leave it intact for the first time. Exploding you, you've you listen. Yes, I am. Yes, I am. Can I just say, Chris, we are. And now you need some. Your list of Chris, the quote answers is narrowed. So I know. Good luck to you. I can still send you tributes today. OK, fine. If you don't wait, you're giving me a hint on your guest answers. Yeah, that's not you both need some whisper. If you don't know that Donald Trump is a fascist by now, because if it looks like a fascist and talks like a fascist and walks like a
Markets Daily Crypto Roundup
A highlight from Crypto Update | Institutional Interest in Chainlink, Circle Considering an IPO
"This episode of Markets Daily is sponsored by CME Group and PayPal. It's Wednesday, November 8th, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Acheson, CoinDesk collaborator and author of the Crypto is Macro Now newsletter on Substack. On today's show, we're talking about a possible crypto IPO, Chainlink, Fed comments, and more. So you don't miss an episode, be sure to follow the podcast on your platform of choice and turn on notifications. Just a reminder, CoinDesk is a news source and does not provide investment advice. Now, a markets roundup. Crypto markets perked up yesterday, with a sharp jump late in the day at one point pushing the Bitcoin price above $35 ,700. It has since settled back some, but seems to be holding on to the gains. At 9am Eastern Time today, Bitcoin was trading at $35 ,400, up 1 .8 % over the past 24 hours. Ether was trading up 1 % at $1 ,890. Elsewhere, Chainlink, Polygon, and TonCoin are up 8%, Solana, Cardano, and Polkadot are up 3%. In macro indicators today, it's time to talk about talking. I'm referring to the attention paid to speeches and interviews given by Fed officials, at events, on television, at universities, wherever, and why it matters. And I mention it today, because Fed officials do like to get out there and deliver their message, nothing new there. But this week seems to be particularly noisy. This morning, I counted 15 scheduled Fed official public remarks for this week alone, and there were probably some I didn't catch. Two are from Fed Chair Powell himself. First, let's look at why they do this, and then we'll get into why we should pay attention, and also what they are saying. They do this for several reasons, one of which is personal branding. Another is broader education, that's part of the job. In case you haven't noticed, the Federal Reserve even has an Instagram account now and posts regularly. Perhaps the most relevant reason, however, is the messaging coming from people involved in setting US interest rates. Each Fed official is allowed to say what they think they don't have to conform to any official statement, and because of this, their comments shed light on what goes on behind the closed doors of the FOMC committee, and what factors could influence the next interest rate decision. For that reason, we should pay attention. This may be hard since there is so much Fed speak, but even just glimpsing at reports of official comments can give a feel for where the collective mood is, and this can help to shape expectations of where interest rates could go from here. So, let's take a look at what Fed officials are saying. On Friday, Atlanta Fed President Raphael Bostic said he thought the Fed was done raising interest rates. On Monday, Minneapolis Fed President Neil Kashkari hinted that he thought there were more interest rate hikes ahead. In speeches on Monday and today, Federal Reserve Governor Lisa Cook said that she hoped that no more rate hikes would be needed, but that escalating geopolitical tensions could spill over into higher inflation. Yesterday, Chicago Fed President Austan Goolsbee hammered home that any move on rates will depend on inflation, not on jobs or economic growth. In other words, heading into a recession will not budge the Fed. There are several other comments as well, and taken together, they give the impression of a Federal Reserve Board that is not in unanimous agreement about the rates outlook, but that does with one voice stress the importance of the inflation numbers. That does not mean other economic data points are not significant. After all, pretty much everything is intertwined. But it does mean that the inflation data is the most significant.
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.
Tech Path Crypto
A highlight from Bitcoin ETF Frenzy | Bloomberg Intelligence INTERVIEW
"All right today we're going to dive into some ETF news but also some analysis from the experts really looking at the potential of what ETFs might mean for crypto in general but also of course Bitcoin. We'll dive in deep. My name is Paul Berra. Welcome back in to Tech Path. Joining me today is James Safert who is an ETF analyst over at Bloomberg Intelligence. Great to have you back James. Thanks for having me on Paul. Happy to be here. Excellent. Excellent. Last time we had you on early stages of a lot of the ETF activity. I won't let you off the hook about the ETH ETF though because we're going to ask you about that. The potential. But I want to go into first of all a little bit about what's been happening over the last 60 days. And most of this has been around the potential for BlackRock. And let's just kind of get that question out of the way. Obviously BlackRock I would say the number one at least institutional asset manager out there that's being looked at as possibly could be the leader. In your opinion you look at all the filings that have been made. What is going to happen when we do get these approved? If they all come at once do you feel like BlackRock just automatically wins the race here because they're BlackRock or do you think there would be some others that could really win some marketing points? Yeah. So the way that we look at the space is it's a winner take most world. It's not like there's going to be a winner take all type situation. You can't overlook the fact that Grayscale already has 20 billion in assets right now based on the current valuation. So they're also going to be a big player. So there's going to be anywhere we look in the ETF space there's usually one big leader who gets most of the assets, possibly most of the flows and the trading volume. But usually there's other aspects of what these issuers will find ways to differentiate themselves. So in gold ETFs some ETFs are going to be way cheaper than the most liquid ones. So that's grown. Some are going to store through their gold and Swiss vaults instead of the London vaults. So I suspect we'll see something similar on the Bitcoin side of things. You're going to have issuers that are going to focus on the fact that they've been dealing with advisors themselves and talking to them about what this space looks like and what it's going to look like and offer to be like we know this space very well. We're not just an asset manager. We're putting blockchain and crypto first. So people focus on that and then the people that will say like we're going to lend out the underlying Bitcoin and give you dividends or offer very, very near zero fees. Some will talk about like different custodians are going to possibly market on the custodians they're using. As we know, we've seen that has been an issue. So there's like a whole bunch of different ways, but it is likely to be winner take most in this world. And BlackRock obviously is likely to be the leader. But the idea that we have GBDC and Grayscale already existing with 20 billion assets is that's a huge thing to hurdle even if you're BlackRock. So based on you guys's analysis, if you look at the ETF services that could be offered because there's probably going to get some fairly creative services within these companies, what would you think would be one of the most critical things that a BlackRock or 21 shares or even a Fidelity could bring to the market to say, this is what we're going to do. We're going to come out and kind of hit with a splash and try to draw in these investors. I mean, the easiest, most simplest one is going to be fee, right? No matter what you do, no matter what your offerings are, if you're charging double the price of everyone else, you're going to have a hard time competing. Right. But also, you hinted at it. We think there's going to be a lot of marketing around here. BlackRock is likely going to market the hell out of this. You're going to see ARK in 21 shares. We've already seen VanEck start to market this type of stuff already. So we're going to see a lot of these players try to market and get to advisors. Directly to retail, they're going to be talking about why their products are better versus the others. But like I said, it tends to be a winner -take -most type world in the ETF space, particularly when you have just a single asset here, right? It's just giving exposure to this one thing. So people are going to differentiate on what they do as a firm and the products individually and who knows where it's going to go. But like I said, one of the things I did mention is in gold, there are some ETFs where if you have enough money, for the most part, you can't redeem the actual gold. But there are some ETFs that like, if you have $10 ,000, they'll deliver it right to your doorstep, things like that. So there might be a similar situation in crypto down the line and won't, not initially, but that might be a case down the line where like, if you have a certain amount, they'll send it to a private wallet. Right. Right. Okay. You mentioned something here about retail and because I look at this and this was in reference to an article, you know, Crypto Reshaping the American Dream for Younger Generations. This is a report by Coinbase. And within the Coinbase art or the Coinbase report, there were a few things that they pointed out to. One of course, was this millennial age group, 26 to 40. And a lot of this was around just crypto and blockchain as kind of the future of finance. Millennials really see this as a big opportunity. When you look at retail and you look at the current runway for a lot of these institutions today, do you feel that the target audience, because it seems like the millennial audience could be the new holy grail of the investment class, especially in reference to retail. Do you think owning that would possibly put someone out in front or do you think it's going to be kind of old school capital that could be leading the way at first? What are your thoughts on that? So specifically for the ETF, it's probably going to be more the advisor type of space that it's going to be looking at this. I mean, if you're a retail person, anyone, if you really wanted exposure to this, you could have downloaded Coinbase or Gemini or any app, FTX, you could buy at the click of a button. So one of the parallels we like to look at is like when gold ETFs came out, they democratized investing in gold. Yeah, you could always go down to like the corner street and buy like some gold coins, but that's very different from having it in a like professionalized portfolio. So that's more what the ETF is going to do. We don't think the one thing it will do for retail potentially is if you're a trader and you're like to trade these things in and out, the ETF is going to be way cheaper than a lot of these platforms. It's going to trade penny wide, there's going to be no commissions, which is not the case for most of these platforms. So the real people that are going to use these products if and when they get approved are really going to be institutions and advisors who maybe they have clients who have money in their own personal accounts on the some of those apps I mentioned, and it would just be way better if like we could control it. If an advisor, they know exactly how it is, they can basically sell when it gets too large of a portion of the portfolio and buy more when it dips below because we know we all know how volatile the market is. So just getting that professional management. Also from the advisors perspective, if I'm an advisor and you're my client and you're buying this on Coinbase or FTX, I don't know what you're doing. And also I'm not making money. That's not under my purview. Like typically the most advisors nowadays they charge an AUM fee. So whatever those total assets are, they're going to charge a slight fee on those total assets. And this brings us under that umbrella. So what ETF is going to do is going to put DeFi on the TradFi rails in a way that hasn't been done yet, which again kind of goes against the ethos of many of these things. But it's not going to detract from the underlying ethos of Bitcoin and what people want it to be. It's just going to be additive to people who want it in a different basically wrapper. Yeah. I was looking at your partner, Eric Balshunis in there, this is one of the many reasons so bullish on ETFs and think they'll dominate for decades to come is their usage is inversely correlated to age. Eighty -nine percent of millennials say the vehicle of choice versus boomers, which is though it is increasing in the survey data that came in from Schwab. But I guess the future is really going to lean toward these other alternative investors who are going out to advisors and saying, hey, I've got some assets here I want under management and here we go. And with that being the case, you've already got a mindset that's starting to restructure how capital might be deployed in the future. Is that something where do you think the switch would happen? Is there a time frame that you say, OK, maybe over the next three years, this we could truly see a shift in the demographic data that could push these ETFs into kind of a stratosphere? Yeah, so like if we're just looking at ETFs in general, one of the things I track, I obviously don't just cover crypto. I look at the whole space. And one of the big trends recovering is mutual fund to ETF transition, which goes to a lot of those things that Eric was pointing out, specifically on the ETF side. It's not going to be like these things launch and all of a sudden they're going to get like billions of dollars in in one week. Like I said, it's going to be institutions. So a lot of institutions, endowments, pensions, they have restrictions on what they can and cannot hold. So they have to hold securities or bonds, what have you. They can't hold this thing directly. Putting in an ETF wrapper allows them to hold it. So if there is there and we know for a fact that our institutions out there that want to have a one percent allocation to this thing, this might be a way for them to do it. The other part of it is basically it's the advisors, right? They're not going to if they want to put maybe some portion of their clients they think would fit to have a one, three, five percent allocation to a product like this. They're not going to do it the day it launches, right? They're going to do their due diligence. They're going to look at things or they're going to slowly put it in over time. So it'll be like an allocation that goes on over the next one, one to three years, kind of like you mentioned. So it's more about the long term impact of these things being launched necessarily than necessarily like, oh, this week it's launching and all of a sudden it's going to send things to the moon, if you will. That's unlikely to happen, in my view, personally. So obviously we'll get an initial splash once these do hit the market. That's going to be kind of the case. Is there any framework of what you guys think at Bloomberg would be the kind of inflows that would be relevant to what the size of this asset class is? I guess it would be similar maybe to what gold or is it even similar to gold that first hit the ETF market? Yeah. So when we look at gold ETFs, which is like something that people kind of overstate, gold ETFs in the U .S. have a hundred billion in AUM. This is, I mean, Bitcoin ETFs aren't going to get there anytime soon, in my opinion. And like I said, Grayscale, I mentioned like twice or three times already, GBC already has 20 billion in assets. So the idea that all of a sudden there's going to be hundreds of billions in these products in any sort of shorter timeframe than years or decade out is kind of unlikely. But yeah, I think of the upper limit or in like a three year time frame would be that a hundred billion number maybe, but there's no way to actually know what type of money's going to come in. The problem is like, we don't know what advisors are going to do, right? Are they going to do that 1 % allocation, 3 % allocation, 5 % allocation and what percent of advisors are going to use these products? And then also what percent of their clients are they going to want to hold these? Not every, this isn't going to fit for every single client in the world, right? It's going to fit for a subset of clients that they feel like meet their risk profile. So deciding that. So it's hard to really know Galaxy actually did a really good piece on this. I'm trying to guess the numbers. They guess I think 14 billion in the first year, but there's also a lot of things going on. We don't know how much money is going to come out of Grayscale because a lot of money that's in there was specifically playing what was going on with the premiums and discounts. And not necessarily like, Oh, I want this exposure. It was more like, this is a trade I'm making to bet on the discount closing or to bet on the premium or something like that over the last five years. So there might be some flows that are come out of there that might not go into some of these other ETFs. Now, how much of that is going to happen? I don't know. So here's a question to you is with Bloomberg, the way you guys analyze ETFs, but also the advisors within the industry, is there any data out there showing the demographic of the actual advisors? Because I would think that if they are falling into the millennial audience, they may kind of be leaning a little bit stronger into these kinds of assets. Yeah, there are a lot of advisors that are leaning into that. So like this, this kind of gets a little bit out of my wheelhouse. We don't have a lot of the advisor data because most of that is like survey data. There are a lot of really good sources that get into that and we'll use those other sources and let me try to figure out what's going on. But for the most part, a lot of the advisors are much older crowd that aren't really interested in this. That said, if you have a client and you're older and the client says they want exposure to this, this is the way that they're going to do it, right? They're not going to open a Coinbase account for them. They're going to go through and just buy this ETF if it's allowed, even allowed. There's a process that could take one few months or two, three years where these platforms have to get the okay from their risk metric teams and compliance teams to actually be even allow advisors or anyone to brokers to even buy these things for their clients. So who knows how long that could take. You mentioned Grayscale obviously kind of being a potential leader, I guess, going out of the gate. What is the next step for them? Obviously, they've had a much further advancement, but why not, why are we not seeing this just going out as a listed ETF right now? Yeah, that's a good question. I don't actually know. The real answer is like they won their court case, right? And there's likely a conversation that's happening between the SEC and Grayscale. Grayscale saying, probably pushing the argument that, look, the deadlines and the statutes say if there is no issued order here, then all of a sudden we're approved. And your order was vacated and that timeframe means we are de facto approved, which that's a legal framework that's unlikely to actually ever happen in the real world, but that's probably what they're saying to the SEC. I'm assuming the SEC was saying, no, you're going to restart and refile this whole process, which is a 240 -day process to go through this and then we'll talk. And then I'm sure there's some like haggling going back and forth. We'll make a deal. We'll refile if we get X number of days, like you guarantee we're going to give us an answer or maybe even just the SEC is telling them we're going to give you an answer on what's going to happen in the next 30 days. We don't know. It's completely quiet. I thought we would have had an answer to like what the next steps are and what's happening last week, the last week or the week before. So I was like thinking by last Friday, we'd have an idea of what's going to go on. And I think I actually tweeted this out. I was like, we have nothing. They're completely quiet. So we're entering a zone right now starting tomorrow where theoretically they could start approving some of these things. Obviously, I'm not saying that that's what's going to happen, but like up and tomorrow is the first date that it could theoretically happen in the last of the next few months. All right. So with that being the case right now, I know you and Eric have kind of looking have been doing these percentage of probability ranges by end of year. Where are you guys at now on this? We're still at 75 percent by the end of the year, but we think basically one thing that goes into all this is we think the SEC is going to try to allow most, if not all of them to launch on the same day. They're not going to play kingmaker. They played kingmaker with Bitto, which is the pro shares Bitcoin futures ETF, got a billion and a half or over a billion in two days dominate. They have 96 percent of the assets, 96 percent of the volume. They utterly dominate. I don't think they don't want to do that again. So I think the SEC is going to try to find these like angles and areas where they can allow a whole bunch to launch at the same time. And like I said, one of those one of those like time periods starts tomorrow and goes through like roughly the 17th, maybe the 21st, depending on with all these other filings. But if you include GBTC, there's 12 active applications right now in front of the SEC. So the SEC might have to figure out a way to do this. So like I said, November could happen. There's also a period in December. Our view is that the final deadline for ARK and 21 shares is January 10th. And I just don't think if they deny then by that January 10th deadline, if they wait all the way up until that deadline, which they don't have to, they can go very early if they want to. We saw that in September. They went months early in some of these cases. They will approve by January 10th is our view. We're at 90 percent on that now. That said, if they deny at that time period, it's unlikely that they're going to deny ARK in January and then approve everything else in March, which is when BlackRock and all these other issuers are due. So we'll cross that bridge when we get to it. But we think we're at 75 percent this year. I think they could try to get it done just like before the Christmas and New Year holidays. So it's kind of a tight squeeze to fit it in like right after New Year's and before that January 10th deadline, unless they have everything ready to go. And again, the next like opening where we could see like a wave of approvals is later this week, potentially into next week.
Real Estate Coaching Radio
A highlight from Proven Buyer Agent Prequalification Scripts For THIS Market!
"Welcome to Real Estate Coaching Radio, starring award -winning real estate coaches and number one international bestselling authors, Tim and Julie Harris. This is the number one daily radio show for realtors looking for a no BS, authentic, real time coaching experience. What's really working in today's market, how to generate more leads, make more money and have more time for what you love in your life. And now your hosts, Tim and Julie Harris. Yes, we do listen to you. Yes, we do read your emails. Yes, we do appreciate your show feedback and show suggestions. And that is what today's show is all about. A lot of you are really ready to formalize your buyer process, which we certainly appreciate. And by the way, if you did not listen to the podcast we did a few days ago, that's talking about the buyer agent commission lawsuits and all the things and expectations that we have that will be changing and how you relate to buyers. Well, make sure you go back and listen to that available on iTunes, Spotify, and of course, over on YouTube. So what we're going to be doing today is we're going to be drilling down on just a handful of our buyer scripts, all of our scripts, everything that's included in Premier Coaching. They're all copy written. You're not going to find these anywhere else on the Internet. Julie and I do not give our scripts away for free. They're an asset that are available only to our coaching clients to use. No one's going to be reselling these or anything like that. So these scripts, the reason that some of you won't be exposed to these before is because they are original and Julie and I are rabid at updating the scripts when necessary to reflect the buyer's expectations and the market's expectations as well. Exactly. Written by us and market tested. Doesn't matter how expensive your market is or where you are in the country or perhaps even in the world, because we have to include our Canadian clients, et cetera. Julie, we should start out by essentially priming them to accept the idea that they all should be using scripts. Yes, because that's a big point of resistance. Well, you know, this podcast, we only have you guys for 20 minutes, 20, 30 minutes. So there's no sense in me not being direct. The people that resist using scripts are, generally speaking, those who think they have enough natural talent to essentially never have to actually formalize their process. And whatever comes out of their mouth is sufficient enough. And that's just the way it is. That is somebody that's resisting being a professional. And they will continually act like that and continue to act like that over time until they essentially have a bunch of setbacks. Now, typically what you'll see is they'll rationalize their failures. So when you see somebody that doesn't use a formalized process in this regard using scripts, you'll see they're the same ones that will tell you, well, it's OK to just list five out of 10 listing appointments you go on. Or it's OK if you have five expires and things like that. Or on the buyer side, buyers are liars. Exactly. So you'll see the types of people that aren't professional and aren't using a formalized process, of which scripts are certainly part of that, are the same ones that are masterful at rationalizing their failures. So a strong suggestion to all of you, dear listeners, is avoid those types of people and don't heed their advice, because the simple fact is, is that all of us use scripts. But if you're not winning more than you're losing, and especially in this market, your scripts just aren't any good because you probably, you know, patched work them together. You're probably, again, winging it too frequently. You're relying too heavily on your personality. And I will give you absolute nailed down proof of that, and I'll be a little self sacrificial as I say this. So our first year in the business, Julie and I sold over 100 homes and we would do a lot of selling together. But for the most part, Julie was keeping the train on the tracks while I was out there basically working with a lot of buyers and sellers, and I didn't know any scripts. We had no formal training in real estate. We do nothing. But still, together, Julie and I worked really, really well together. The customers liked us and we were able to get, you know, obviously we did really great and that worked into a, you know, years after that we're selling between 100 and 200 homes. But when we tried to move out of that particular market where we were originally, where we originally planted our flag, move up market, change price ranges, go to just different types of things, we quickly found that our success rate, which was really high, all of a sudden started to fall. Now, it took in that market a different set, not necessarily scripts, but it's certainly a different approach. The first market we ran, a lot of first time buyers, a lot of first time sellers, things like that. When we wanted to double or triple, what we eventually did is 5X our price range. Then we had to completely update our approach. What I'm saying is our natural talent ran out when we basically left that market or didn't, we wanted to focus on, I think, a wider variety of price ranges and clients. Well, I'm glad that you said that because I was thinking, as you're talking, certainly, you know, our original stomping ground, a lot of first time buyers and also a lot of our center of influence. So many of you will find that the easier stuff, and there's nothing wrong with that, but the easier stuff, past clients, centers of influence, people who already know, love and trust you. And we always coach you to get more out of that crowd, certainly. But when you want to go across town, up market, into neighborhoods you're not familiar with and list and buy with people who don't already know, love and trust you, that's when you really feel the need for scripts. Well, that's the litmus test, ultimately. Are all your customers, all the people you've sold homes for, are they people that are essentially your direct centers of influence and past clients? And have you noticed that when one of them tries to refer you to somebody that very rarely do you end up converting that person, especially if it's a seller to a listing? That's because you're not following a formalized process. The people that know, love and care about you aren't going to hold you to the same standard. But in this, here's the thing that's shifted, though. In this market where sellers are obviously a lot more nervous and buyers are a lot more nervous, you're going to find that even the people that know, love and trust you are going to be a heck of a lot more selective in who they work for or rather who they choose to work with. That's the reason that Julie and I have always cautioned those of you who are so heavily dependent on centers of influence and past clients. You're a one spoke wonder. Your lead generation spokes are going to fail because you only have one. You want to have at least five to seven sources of business. And if it's only centers of influence and past client in a market like this, you will start to struggle again because your centers of influence and past clients, even your mom, they're going to be more selective in who they do business with. That's true. And sometimes it's just a matter of the person who knows, loves and trusts you being married to somebody who also has an agent who is a friend of theirs. And even though there's nothing wrong with your relationship, there is another relationship at play. So thus we get back to scripts, right? So it's not scripts are part of it, but you need to improve your process. There's no more FOMO in the market. People aren't going to want to buy and sell anymore just because you're going to actually have to learn quickly, frankly, what to say, how to say it, how to do a lot of interpersonal communication that maybe you haven't had to do. We call it Dr. Filling, right? It's not knowing what to say. It's not just knowing what to say and how to say it, but it's also learning how to read your customer. These are all the things that we teach you in Premier Coaching. And obviously then a lot of you move up to our one on one coaching programs and even learn at more of a higher level. But if you find yourself struggling, which I know is pretty much the story with most of you, and you or you find yourself accepting failure. Oh, I didn't get that listing because the other agent must have priced it higher, took a lower commission. In other words, you're making excuses. It is past time for you to accept the fact that you need to improve your skill set. That's right. So today we're talking about the buyer side of scripting. And yes, as you said, Tim, that the fear of missing out the FOMO buyers, the flippers, you know, people who are buying and selling for fun have largely left the market. It used to be for every good listing, you'd get 10 to 20 offers. So now, oh, no, there's only three offers for every buyer side. So there are still more buyers in today's market than there are listings to sell them. It's about a three to one ratio right now for every closed transaction. Last month, there were three offers. But even when your buyers are both motivated and qualified, you have no guarantees that you'll find them the right house, win the potential bidding war. And soon you also may have to worry about how you're going to get paid for your hard work. So prequalification just became more important than ever. How do you determine which of them will buy, which will end in a closed transaction and who you should concentrate on? Who should you be setting appointments with to have a buyer presentation and get your agency and exclusive agencies signed? OK, so remember, as with all scripts, the buyer prequalification script is a conversational outline using questions to find out the following, some of the following from your buyer prospects in the podcast. We can't do the whole script after using the buyer prequalification script. You'll then meet your buyer prospects and use your buyer presentation to solidify your relationship, how you work and how commissions work. OK, so again, we're going to show you just a few questions, a sampling of the buyer prequalification script. Now, these notes, today's notes, like every one of our podcasts, if you scroll down, if you're on YouTube, iTunes, wherever, all the notes are right there. And again, these are just a smattering, a sampling of some of the scripts that you are going to need to learn and master ASAP. And if you're one of these script resistors, please remember the story I told about Julie and I. We got pretty far in our natural talents and abilities, but it quickly ran dry. And what we started to see is on our second and third year that we did increase the number of homes and increase our revenue every single year, we still were finding more resistance. It's because we had to learn skills. And all of you are in that place, this last market that lasted basically 15 years, you did not really need to improve your skill set because the market was so buoyant, you know, essentially the rising tides. Right. That is gone. And so now you're going to have to go back. And many of you are hopefully accepting this and learn what you should have learned in the first place. And then you're going to be unstoppable. So we're going to give you a little taste, a sampler plate, a sampler of all of our script or some of the scripts. And these are just focused on buyers. And remember, the notes for today's show are down below. And when you're there, you're also going to see an offer for you to join Premier Coaching. Premier Coaching costs you nothing for the first 30 days. So make sure you click the link to join. And then we give you a lot more buyer scripts and a lot more obviously business planning ideas and, you know, all that good stuff. So it's there. It costs you nothing to join. There's no obligation. And yes, that does include a daily semi -private coaching call with one of our Harris certified coaches. All right. So we might call these script snippets. My note takers to mention that the notes are there. You can also jot these down. Number one, again, on the buyer side, I assume because you're calling or emailing or texting me directly. So this is a line from the prequalification script. Thank you for clarifying. OK. I assume because you're calling me or emailing me or texting me directly, you're not already working with another agent. This question happens early in the script. So you can skip the rest of the script if they've already committed to another realtor. Makes sense. So that's how do most of you handle that? Most of you, those of you who are buying leads from Zillow, that's one of the first questions they ask, right? They want to make sure that a buyer is not committed to another agent. But those of you who are smart enough to generate your own leads, let alone buyer leads, you're going to want to quickly ascertain whether they're working with another agent. Now, here's the reason we wrote this script that, you know, that question like that. By the way, all script is, is generally speaking, just a bunch of questions that are laced together. So the reason that we wrote it that way was because if you straight up ask the buyer if they're working with another agent, they're always going to say yes because they don't know what the hell working with an agent means. So if they talk to some agent someplace 14 years ago, maybe that's working with another agent. Or if they're more savvy, they're going to say yes because they just want the answer to whatever their question was. So all of this is designed for you and hopefully Julie's next question. OK, so she doesn't have this in here, or do you? Oh, yes, she does. Question number three is my favorite question ever. Me too. So I'm not going to stop on that one. But first, question number two, what price has your lender told you not to go above? Now, this question covers all of the bases with regards to finding out about their financing. When you ask this question again, what price has your lender told you not to go above? They'll tell you if they're all cash. They'll tell you if they haven't got a lender yet. They'll tell you if they're pre -approved and what price not to go over. Instead of asking all of those individual questions, the script, what prices your lender told you not to go above, gets straight to the answer. It's kind of like an all encompassing question. Versus asking, are you working with the lender? You know, all this again, the I think amateurish way that most agents have been conditioned to work with buyers is that you give up a whole bunch of your time and you give up a whole bunch of your energy and professionalism. And then you hopefully find out along the way whether they're approved, whether they're working with the lender, whether they have a house to sell. What we're suggesting, Premier Coaching clients, especially you guys, is before you give them any of your time, you need to go through the prequalification script. Then after that, as Julie said, then you sit down with them and you give them a formal presentation. This is all included in Premier Coaching with the output, with the goal of the presentation being they sign a state agency form, a exclusive buyer agency contract and a net sheet. Those three things. So that's all included in Premier Coaching. But the number one thing is, is before you even sit at the table with them, you need to What you're really gearing towards is looking for people that actually have houses to sell, because once you take the listing, that's going to automatically trigger those people working with you on the buy side and a whole bunch of other transactions as well. And that leads us to our mutual favorite point, our script question number three, which home in the neighborhood do you plan on selling? Now, this helps you to determine if they are also a listing lead. Note to self, many agents never ask this question when they get buyer leads. Some of you guys have so many buyers right now and not enough homes to find them that you don't even call buyer leads back. That's even worse because some of them have houses to sell. Well, they don't ask. They don't root out whether or not the person has a house to sell until it's like way further into like maybe days or weeks. And then they're going to sort of maybe hopefully find out if that person's got an agent who they're thinking about hiring to sell their house. You guys have got to stop being passive like that, because what you're telling that agent or that consumer is that you're not confident and they're not going to do business with you. They will do business with people who are acting professional, asking professional questions as professionals will. Can you imagine walking into a doctor's office? You know what the doctor's office experience is, right? Or the dentist's office. Before you even get out of the uncomfortable waiting room, they're going to give you something on a clipboard and they're going to ask for all your insurance information. Why? Because they want to determine if you can pay. OK, now that is before you even see anybody. That is the same. That's the same process wherever you go to see a doctor anywhere. So people have the expectation that they're going to be going through a formalized professional process before they actually see the doctor. What do you guys do? Somebody calls or texts and you don't even ask them to come to your office. You just zip over to their house and with your dental cleaning kit, you're ready to go. You don't know whether or not they have any teeth or whether they can clean out a chair. We'll use your chair. Exactly. That's what a lot of you guys do. Do you think that person respects you when you act like that? They do not. I know. And when we were talking about scripting earlier, I was thinking about how agents think that it's OK to wing it and just use their personality. And I had this image of like the next time you fly the flight attendant. I mean, they've done this before. They don't need a script, right? There's that thingy up there over your head and maybe it'll drop down. And I don't know, you'll probably remember what to do with it. When you freak out, if that happened, you expect a professional experience. Do you know you just described the average JetBlue flight? Well, that's true, too. I mean, they do. Yeah, OK, back to task. OK, point number four, here's a script piece. Paint me a picture. Ideally, what are you looking for in your next home? The more you can drill down on the prospect's needs, the faster you can find what they want. And caution, if you're working with a couple or, you know, two or three investors even, make sure you ask each one of them, ideally, what are you looking for in the next home? Now, I'll give you a little hint. This is assuming you're working with consumers, not investors. Find out, get a picture of their current home, assuming they have one. Or if they're relocating, ask them to send you pictures of their current home, because here's what happens. People do not want to sell their furniture. And most people will actually choose a house around maybe their dining room set and their bedroom set or something like that. So even if someone shows up in your life and they're relocating from another part of the country and they're telling you they want a modern home and you ask for a picture of their current home, some colonial with, you know, you guys get the idea, I promise you they're buying a colonial unless they have no other choice other than to buy something that's modern. They're going to buy what they already have, because most people are comfortable not making very many changes in their lives ever. That said, you're going to have to basically adjust accordingly, because as you go up market, those folks have a tendency to actually like different styles of homes and the homes in the upper end don't, they are almost always including the furniture. But for the meat and potatoes price ranges, say from 300 to really anything less than, I would say 750, a lot of those guys, they're going to buy what they had before. Yes. I think especially with relocation, I remember when you and I were selling homes and we just learned that and we had them bring a picture of their house or send it in an email. And you are so right. They almost like the exact down to the color of the shutters and, you know, the style. So that that's a great top tip there. OK, so next is point number five. When I find you a home, there's an exumptive close. When I find you a home that has A, B, C and D, which was their stated needs and price range. In other words, the home you're looking for that checks all of the boxes on a scale of one to 10. Where would you rate your desire to write up an offer on it? Ten means you absolutely are one hundred and ten percent ready and one means you're just kicking tires. If they're anything less than a 10, your follow up question is, what would it take to make you a 10? So we'll role play that. So, Julie, listen, so I'm going to I'm going to take a lot of time and we're going to see homes that are a very close match to what you say you're looking for. And I might toss in a few ringers that just maybe you're telling me you want something that's an acre, but I find a house that I think might be a good fit for you. But it's only a half acre, things like that. So but let's just say I show you a house that is meets all your criteria, right location, right price, right condition. All your furniture fits in the house exactly the way you'd hoped it fit. In other words, this is the house that you're describing to me as the house you guys both want on a scale one to 10. Where would you rate your motivation to purchase that house? I'm about an eight and eight. Well, congratulations. Good for you. What would it take to get you to a 10? That secondary question is the most important question. What would it take to get you to a 10? And by the way, they almost always say seven. So what would it take to get you to a 10? And then you're going to find out some things that they have not previously told you. I have to see if I'm going to get my relocation. Oh, I have to see it. I have to sell three rental properties. Bup, bup, bup, bup, bup. You get it? So you're going to have to ask secondary questions because then you're really going to determine, well, we're waiting for the lender to clear up a problem on our credit or waiting for rates to drop or we're waiting for pigs to fly. You know, you can then determine whether or not you actually want to work with them. That's right. So if not a 10, then why? And I think every thing that you list off there, we minus maybe the pigs flying, we dealt with in one way or another. And sometimes you remember the previous point was paint me a picture. Ideally, what are you looking for? If you haven't asked all parties involved, maybe that's the objection. You know, I'm an eight, but, you know, my spouse is a six and a half. Well, why is that? Well, it's because they have to have a three car garage because they want to be in a different part of town. You got to drill down. Otherwise, you're really going to be wasting your time chasing down things that they're never going to buy. But with regards to the art and science of all this, when you ask somebody a question, you want to obviously well, maybe not so obvious. You want to repeat what they say and you want to tell them, you know, essentially a good job with your answer, because then you're going to encourage A, you're showing that you're listening and B, you're encouraging them to answer more of your questions because you're kind of giving them a little, you know, thank you very much. So Julie, a seven, that's fantastic. Congratulations. What would it take to get you to a 10? You guys see how I did that? You never want to just go from on the seven and then go right to and skip that middle part because you haven't tied those two emotions together. And once you do that, just test it today. Test what I'm saying today with just anybody. When you repeat what they say and you affirm it, you will find that magic happens on the other side of that. Well, you are kind of secretly bonding over those questions, right? So that's a good thing. All of these. And we have let's see. Yes, that was number five. All of this is included in our buyer mastery, which is part of our premier coaching program. This is just a taste. These are just five questions from our buyer prequalification script. This is not the buyer presentation script. This is prequalifying before you even do the presentation. And this is probably a half, maybe maybe a third, maybe a third. Yeah. So the whole point of buyer prequalifying is when you get a buyer, you're going to take them through the process of determining, obviously, their their motivation. Remember, guys, advanced coaching. There's no such thing as a buyer that has to buy. Buyers always want to buy. There are things that there are reasons that sellers have to sell. Going to say that because it's critical if you're listening to us for the first time. So important that you get this because you're otherwise going to find yourself being very frustrated, especially in a market like this. This is the reason that we always try to lean you guys towards focusing on becoming listing agents with so many of you, because frankly, this past market have resisted. Now it's time for you to dust off that resistance and focus on becoming listing agents. But yes, you're going to be working with buyers along the way. We a buyer never has to buy. Why? Because a buyer can always rent. A buyer can always stay in their current house. A buyer can always, you know, add a bedroom. A buyer can always wait. A buyer can always, you guys get the point. So the thing with buyers is there's always going to be a lot of reasons why they'll change their minds. Interest rates went up. Well, I'm going to wait for rates to fall. There's an election cycle going on. I'm going to wait till after the election. Like that has anything to do with anything. You know, maybe it's going to be the holidays. Maybe it's going to be some sort of vacation. It's always going to be something that's going to drive you crazy. OK, now when you work with sellers, there are such things as sellers that have to sell. In other words, again, we have a lot of seller prequalification questions and you're going to find out that when you're, especially in this market, there's less than four million homes that sold. I can pretty much guarantee you those were four million sellers that had to sell. That is the bottom of the market. That is the floor. This market will always serve up around four million must sell sellers every single year. That is going to be what you're going to see is the historical low mark for home sales for probably the next 40 years. So congratulations. You've been through the worst housing market. Oh, and we're working on our predictions for next year. And we're thinking that we're, you know, next two years, really. And we're expecting a lot of return to normalcy with regards to inventory, but that in a different podcast. The real focus, what I'm hoping you take away from this, is that when you work with buyers, because you will have to make sure you're taking a professional approach, but never forget there is no such thing as a buyer that has to buy. They always, they're always a want to buy and they can easily change their mind and they often do. But there are examples of sellers that have to sell. They're getting relocated. They can't afford the house. They lost their job. They have new construction that's closing or a resell that's closing and they need the cash. It's a probate listing. It's a divorce situation. It's a this and that and the other thing. There's a whole bunch of reasons why sellers have to sell. And there are no reasons why ultimately a buyer has to buy. Be clear about that. Be very clear about that. Otherwise, you're going to find yourself, frankly, toiling away of a lot of nights and weekends wondering why your five or six magical buyers never bought. And then you're going to be about midway through the year and then you're going to see the buyers start losing interest because now they're focused on the vacations and now they're focused on kids going back to school. Then there's Halloween. Then there's the holidays. And now you ended up selling like nothing that particular year because you spent too much time with buyers. Thus, the scripts, the scripts are there to help you to sift and sort, to get the answers so that you I mean, we're not anti buyer. Buyers make the world go around. And if you have listings, you need buyers, certainly. But what we're trying to drive home here by exposing you to these questions is to sift and sort and make sure that you're spending your time wisely when you end up doing the buyer presentation, which soon you're probably going to be required to do at a higher level, that you're spending your time with somebody who is likely to transact with you. Although it is always true that buyers never have to buy, your job is to find the ones that have the strongest desire to buy, who also ideally have listings for you. So these script questions hopefully will help you on your path. But remember, this is only about 30 percent of what's out there. If you're honing your buyer system, you've got to really dig deep and get to be part of Premier Coaching, because again, we have lots more scripts. This is just part of it. I would love to have this just, you know, our prequalification outline, working with buyers and working with sellers. Had we had that our first year, we could have sold probably twice as many homes for 206, I'm sure, if we actually knew what the hell we were doing. Well, true. And we weren't even in a situation most of the time where there were three offers for every listing. It's important to point out that our first year in the business, we were selling in what was a buyer's market. It was not an easy, you know, sell instantly seller's market. It was a tough market. Interest rates were very similar to what they are now. I made a great interest rate when Julie and I were selling real estate was maybe six and three quarters to maybe seven and three quarters. And guess what? People were still buying and selling, but it was a lot tougher. There was no buoyancy in the economy. There was no all these other things going on. It was a bit of a recession. The interest rates were higher, all of this. And guess what? Sellers were not walking away with a boatload of cash in nearly every case. That's a super important point in our market. When we were selling real estate, our first year, real estate was increasing in value, call it appreciation. It's really inflation by roughly two percent per year. So if someone bought a two hundred thousand dollar house, I want you to think about this. So you're one it appreciates by it goes to two oh four. Then it goes to, say, two oh six. And you can do the math yourselves if someone didn't stay in that two hundred thousand dollar house for at least three or four years, sometimes five years, depending. They weren't not they didn't even have the money to sell the house without losing money. So they bought it for two hundred. They put down twenty thousand dollars, their 10 percent down payment. And it was very normal for people who hadn't stayed in their houses for usually seven to ten years. That's true to lose money. They would end up basically at closing walk away with less than they originally put down in the house net or worse if they were, say, a first time buyer that had a three percent down payment and then got relocated six months later. That's right. I mean, that was the unfortunate truth of our market. There was no this runaway appreciation did not exist in our time. So the scripts that we used were actually a lot harder than these oftentimes. Oh, yeah. And by the way, that's what all of you need to learn now. That's the reason that so many of you are listening to this podcast, because you're saying, oh, it turns out there's a different kind of housing market and maybe you knew who knew. I know Tim and Julie did. So listen, guys, thank you for keeping this number one listed daily podcast for real estate professionals in at least the United States. If you're over, if you have the chance and I would certainly appreciate it, as with Jules, do give us a five star review over an iTunes and do leave a comment about why you like the podcast. It goes a long way to help us know we're on track. And again, this today's podcast was inspired by a lot of the questions we were getting from some of you. If you guys have a question you want to send to us, the best way to find us is over on Instagram. And it's at Tim and Julie Harris at Tim and Julie Harris on Instagram. You guys know how that works. And yeah, send us a message there. And we do love the feedback and show ideas that always keeps us on track. Have a fantastic day. We will talk with you on the show tomorrow. This podcast is a part of the C -suite radio network. For more top business podcasts, visit C -suite radio dot com.
Simply Bitcoin
A highlight from Fidelity Just Said Bitcoin is Exponential Gold! | SIMPLY OG CLIP
"You can see the distribution of the positive versus the negative returns for Bitcoin is much more positively skewed than it is for silver and gold. And so to me this is why Bitcoin is kind of the new version of gold and silver is because of its convexity. It's like a more convex version of gold because of its network effects and its increased scarcity that this has become kind of the leader in terms of hedging against monetary inflation. Getting pretty hard to deny that the Bitcoin bull has arrived. And that was Fidelity's global macro director Jurien Timmer dropping a bombshell on the Bitcoin versus gold debate. And he didn't stop there. He said Bitcoin is in its own stratosphere and projects that possibly Bitcoin could hit 700k this cycle. Is he insane? I don't know. We're getting a lot to cover. Let's get it. So Jurien Timmer, the global macro director of Fidelity Investments said that although often compared to gold, Bitcoin can increase in value faster than the yellow shiny rock. Quote, in my view Bitcoin is a commodity currency that aspires to be a store of value and hedge against monetary debasement. Now we've heard digital gold but Timmer says I think of it as exponential gold. Now let's see why. Alright, let's go ahead and run through Timmer's thread here. Bitcoin is volatile but its scarcity and adoption curve create potential for it to be a high powered hedge against monetary shenanigans. I think of it as exponential gold. This rally is way beyond the rumor. I think the rally today is about a flight to quality with all the issues around the Israeli war now. Global terrorism. And I think there's more people running into a flight to quality whether that is in treasuries, gold or crypto depending on how you think about it. And I believe crypto will play that type of role as a flight to quality. Next he gets into Bitcoin's adoption. One of the attributes of Bitcoin is that it's a network asset and as such its adoption curve has followed the typical S curve shape. We've seen many of these throughout history but man that Bitcoin line is pretty steep. So where is Bitcoin along the S curve? A network asset value driven by its adoption so the slope of that curve does matter. As we know the supply of Bitcoin is already fixed, set, its monetary schedule is known. The only variable then to add in is demand. And Timmer may echo some of us. When we first went down the Bitcoin rabbit hole its adoption curve which he defines as the number of non -zero addresses was very steep. It resembled the S curve for mobile phones during the 1980s and 90s also echoing Michael Saylor who called that one and was one of the first ones on Wall Street to get in other than Jerry and Timmer because Fidelity got involved in 2015 even been mining as far back as such. So let's get into more of what Timmer was talking about. Bitcoin is exponential gold but what makes it valuable? Well monetary debasement. Bitcoin was designed to be the safe haven. Now more into Timmer's projections as he hints at a bullish Bitcoin future. If history rhymes, say it followed 2011 and 2013 trends, he believes this could catapult Bitcoin to 700k. A more modest outlook mirroring 2017 suggests a rise to 200 -300k. We talked about it yesterday. We kind of talk about it all the time but there appears to be an awakening to the understanding that there is Bitcoin and then there is everything else from Larry Fink and we got more of that coming. Michael Saylor, this FTX debacle was a great advertisement for why Bitcoin and not crypto but right here and this is again Jerry and Timmer. He created this risk reward chart for investment assets and the report stated that Bitcoin's risk reward is in a different universe and they're not wrong. Think about FTX. FTX is creating its own token. It was not a defi. It wasn't a ledger that was open to the world. It was a closed ledger. It was not distributed. So the whole foundation of what crypto is is supposed to be a distributed ledger that is across the system. I actually believe this technology is going to be very important. Man, it's very interesting. Take a look at the past couple days of Simply Bitcoin Live and yesterday's episode, kind of getting into this, but everyone is flying to quality, flying to safety but what are they fleeing from? And that is essential and it is the insane economic damage that has been caused by central planners, the Fed and inept politicians for way too long and Bitcoin is here to rebalance the scales and give that power back to the people. Really? Yes. I'm encouraged by how many people are focusing on it. I'm encouraged about the narrative but I don't believe we should think about crypto as a substitute of currency but I am fascinated by it as an asset class. Specifically on Bitcoin, we're a believer in digitization of products and we do believe it could revolutionize finance. It's digitizing gold in many ways as a hedge against inflation, a hedge against the devaluation of your currency. Bitcoin is an international asset and so it can represent an asset that people can play as an alternative. The foundation of BlackRock is about hope. The floodgates institutional are about to open and it is epic that we've had the opportunity to front -run these people. But be sure to self -custody your Bitcoin, get them off exchanges and if you need any help using Bitcoin best practices or have questions on what wallets, what nodes, things of that nature, well, we got just the guys to get you started. As your dedicated Bitcoin IT team, the Bitcoin way is here to guide you from start to finish on your journey to properly self -custody your Bitcoin. What's more, they've recently introduced 100 % privacy -focused collaborative custody services where you benefit from advanced multi -sig security, inheritance planning and much more while remaining 100 % in control. Book a free 30 -minute call to get started using that link below. So much major bullish news coming out the past few weeks and it looks like Vanguard and VanEck and BlackRock are kind of projecting the ETF to be approved by the end of this month. So buckle up, guys. Make sure to like, subscribe, share that sound money gospel. We got some more fun stuff coming your way this weekend. So make sure to set those notifications and follow us on Twitter where we're getting all the breaking news out there. Follow all things simply and we will be your guide through the peaceful Bitcoin revolution. I'll catch you all tomorrow. Peace.
Nonprofits Are Messy: Lessons in Leadership | Fundraising | Board Development | Communications
A highlight from Ep 191: How to Build Amazing Work Relationships (with Michael Bungay Stanier)
"So here's a story I've heard dozens of times. You have this senior staff member who needs to be managed out and everyone knows it. But instead of addressing the problem, you hire someone underneath that person to support the poor performer. It feels like no time at all, and that rock star you hired resigns, a new opportunity they just couldn't pass up. But we know the truth. Gallup tells us that close to 60 % of employees who leave are not leaving because of compensation. The main reason? Managers are simply not investing in meeting staff needs as valued employees and human beings. As author and today's guest, Michael Bungay Stanier, says in his new book, people don't leave organizations. They leave managers. This new book, How to Work with Almost Anyone, will be the foundation, the anchor of our conversation. And its foundational assumption is that work success is intrinsically tied to the relationships we build, cultivate, and nurture, and that most of the time we leave the health and fate of these relationships to chance. How crazy is that, right? That's why Michael wrote this book. He believes it's time to commit to intentionally design and manage the way you work with people to actively build what he calls the BPR, the best possible relationship. Can you imagine if your relationship with your employee or your supervisor was safe, vital, and repairable? You don't have to imagine. Today, Michael will share a very clear and compelling recipe. Greetings and welcome to Nonprofits are Messy. I'm your host, Joan Gary, founder of the Nonprofit Leadership Lab, where we help smaller nonprofits thrive. I'm also a strategic advisor for executive directors and boards of larger nonprofits. I'm a frequent keynote speaker, a blogger, and an author on all things leadership and management. You can learn more at joangarry .com. I think of myself as a woman with a mission, to fuel the leadership of the nonprofit sector. My goal with each episode is to dig deep into an issue I know the nonprofit leaders are grappling with by finding just the right person to offer you advice and insights. Today is no exception. Michael Bunge -Stanyer helps people know they're awesome and that they're doing great. He's best known for The Coaching Habit, the best -selling coaching book of the century, and already recognized as a classic. His new book I referenced, How to Work with Almost Anyone, does what it says on the label. Michael was a Rhodes Scholar. He dabbles in the ukuleles, so do I. He's Australian, I'm not, and lives in Toronto, Canada. I've been there. Learn more about Michael at www .mbs .works. Michael, it's great to have you back on my podcast. What I totally love about your work is that you work to solve workplace problems with clear, compelling, simple, and actionable strategies. Your books are easy to digest, not because they're overly simplistic, hardly, but because you don't mince words, you get to the point, and the points you make really stick. So I am delighted you've written another book so that I had the excuse to have you back. Welcome. Joan, what a very generous and kind introduction. Thank you. You're right, I have a mantra when I'm writing a book, which is, what's the shortest book I can write that's still useful? Because so many books are so long and there are so many words and there's so much fluff, and I'm trying to unweird stuff for people. The coaching habit, I think, unweirds the whole idea of coaching, so everybody can kind of go, oh, if that's coaching, I can give that a shot. And here I'm trying to unweird this idea of how do you actively manage the health of your working relationships? Because it's a bit daunting, it's a bit hard, but I'm trying to give people an easier way into that. So you're kind of north of BlinkList of and south a 300 -page book. That's a lovely way to put it. Yeah, I'm like that. So because I've written a book, I always love to know what compelled you to write about this topic? What was their igniting incident? Sort of what drove you to do it? Because you need a drive to write a book, regardless of how short or long it is. Yeah, it's mostly a miserable experience writing a book, even if you like writing books. And I do quite like writing books. Well, there wasn't an inciting incident so much, Joan, but part of what I realized is my best contribution to the world is to be a writer. Like of all the things that I can do, and I'm a speaker and I can coach and I can facilitate and I can design learning and training, and I can do all of that pretty well. But the thing that is most distinctive in what I do is how I write and how I try and move things from complex to simplicity on the other side of complicated. Which is, by the way, no small feat and definitely a superpower. Oh, thank you. So I actually sit with the question, what's my best idea? What's my best guess for the next book I should write? Because I've got all sorts of ideas. I have ideas all the time. A vast majority of them are not very good ideas, but which are the ones that keep showing up. And this idea of actively managing a working relationship, having a conversation about how we work together before you have a conversation on what are we working on. Well, that seed got planted 30 years ago by a writer called Peter Block, who I'm sure you know of as well. And he calls it social contracting. And I'd been using this tool with my clients, with my board when I had a board, with my team, with my direct reports, but also with my peers. And I kind of fine -tuned how I thought this could work best. And I just realized the power of this tool. And I'm like, you know, if I got one tool that I could teach that I haven't taught yet, it might be this whole idea of a Keystone conversation in service of how do you build the best possible relationship with the most important people with whom you work? So you say that we should all be shooting for this best possible relationship. And I mean, there's a part of me that says, oh, okay, so who doesn't want that, right? Isn't it something comes naturally and builds over time? Well, if you're lucky, it comes naturally. And if you're lucky, it builds over time. But I think the odds are against you. I mean, it's entropy. Stuff gets cracked, stuff gets damaged. And the difference is passively waiting and hoping to see if it all, you know, cross your fingers and hope that it all plays out well versus actively saying, what can I do to make this relationship the best version of this relationship? So, you know, your relationships, your working relationships probably fit on a bell curve. You've got some on one end where you're like, I love working with this person, it's fantastic. They get me, I get them. We, you know, amplify each other's strengths. We kind of navigate the tricky things with grace and ease, brilliant. You've probably got some relationships, hopefully not too many at the other end where you're like, oh my goodness, this person is an energy vampire. They suck my life away. If I write a blog post called The Energy Vampire, I'm totally crediting you. Carry on there, Michael. You have to credit what we do in the shadows, which is a fabulous TV show, which is where I got the idea of Energy Vampire from. But anyway, you know, there are these people who you're like, you just can't crack it. No matter what you do, no matter how good your intentions and perhaps their intentions, it just feels like a kind of sucky relationship. And then most of your relationships are somewhere in the middle. They're decent, they're pretty good. You get along most of the time. But each one of those relationships has a potential. And I reckon whether you're at one end of the bell curve or the other or in the middle, there's a way that you can live more fully up to the potential of that relationship. And it takes actively managing it. It takes you going, how do I be the person who reaches out and says, let's figure out how we work best together for your sake and for my sake and for the mission of our organization's sake. I keep coming back to this word intention. So often, people want me to come to the word mindfulness, but I'm a fidgety skeptic, as Dan Harris calls me. I can see that. I'm watching you on video and I'm like, I'm getting that vibe just hanging out with you. But I'm telling you, what you're proposing here, what you're evangelizing about, is to enter into a relationship with intention. And this is something that I talk a lot about with nonprofit leaders who are constantly racing with everything feeling quite urgent because usually everything is quite urgent. And so intentionality is a little bit, is a scarcer commodity than I think is good for a thriving nonprofit. So I love this notion of being intentional about building the best possible relationship. So you talk about three characteristics of the best possible relationship. Can you tease them out for me briefly? Yeah, yeah. So I think the best possible relationships have three characteristics, just as you say. It's not A plus B plus C. There are three characteristics that exist in tension with each other because all best things, all best systems have three principles that are in tension with each other. So I think a best possible relationship needs to be safe and vital and repairable. So let me unpack each one of those three things for you. Safe is the best place to start. And if you've heard of any one of those three, it's probably about safety within relationships, psychological safety, because Amy Edmondson, the OG on psychological safety has made it really clear what a significant role this plays in team and organizational success. Google with Project Oxygen and Project Aristotle talking about how teams and managers thrive. Psychological safety is a key part of the characteristics that they mention. And safety feels an ability to not be in a place of fear. So being able to say things and not fear the repercussions of it. That's how Amy Edmondson defines it. It could even go a little beyond that. Deloitte recently did a study around something they call coverage. And coverage is this idea of, do you get to show up as yourself or do you have to hide some parts of yourself? And it's a really significant number of people who feel they can't bring their whole selves to work. More so, as soon as you move away from people like me, straight white men, old man, I'm like, I'm more comfortable with bringing my whole self to work, but I've got a whole bunch of structures around me that allow that when you're racialized or gender or whatever it might be. There's all sorts of, as people of color will say, code switching that goes on so you fit in and you don't bring your whole self to work. So safety is about an awareness of that. Yes, yes. And I can say as a very quick aside, as a member of the LGBT community, I know about covering and I know about authenticity and the distinction between, I've seen it and read lots about it, about the difference in job satisfaction and productivity of someone of a marginalized community who is able to be authentic versus people who are not. And I often say that LGBT people kind of model authenticity for others who don't come out about all kinds of things. Right, right, that's exactly right. So let's move on to Vital. Yeah, so Vital, I love that Vital has two meanings. Vital meaning essential, but Vital also meaning enlivening. Sort of makes your heart beat a little faster and you kind of in a good way kind of get sweaty hands and kind of go, this is exciting. So Vital is about a relationship that invites people to be brave, to step to the edge of who they are and what they know, to have adventures, to be courageous, to take some risks. And you can see that safe and Vital actually are in a dance with each other. There's this tension between them. You can have a relationship that is so safe that it is deadening, that there's a kind of like, you can't go to the edges because it's all about safety. You can have a relationship that's so vital, so kind of dangerous, that failure is catastrophic because when it breaks, and it will, there's not that safety to kind of balance it. So in any best possible relationship, we're like, what's the balance between safety and vitality that we need to strike? Interesting, I also think about, as you describe, a vital relationship. It's one that when you are in a meeting with that person that that meeting is fueling rather than depleting. Yeah, exactly. It's like Marcus Buckingham talks about strengths. Strength isn't just what you're good at, it's what enlivens you. It's what gives you vitality and what's giving you energy. Yep, repairable. Yeah, so the third attribute is repairable, which is, it stems from this insight, your best relationships and your worst relationships and the ones in the middle will go off the rails at some stage. And an ability to say, how do we fix this so we get back on track is an extraordinarily powerful role to play in any working relationship. And in my research for this, I read a lot of people who write just about the health of relationships. So people like Esther Perel and Dan Siegel and Terry Reel, all terrific authors, all with not all the same, but kind of different, but kind of aligned points of view. And one of the things that was really clear is how poor we are at repairability. You know, something gets slightly dinged and we kind of go, oh, I'm hurt. I feel a bit broken. I feel like this relationship's deteriorating a little bit. And you just kind of assume that that's the way to go because it's hard to speak up about being hurt. It's hard to be the person who builds a bridge to say, let's see if we can get back on track and get back to health in terms of this relationship. So safe, vital, and repairable are the three attributes that make up a best possible relationship. And yes, they're in a dance with each other, right? If a relationship with a colleague goes off the rails, I need to have some element of safety, but I need to feel some element of safety to be able to say either, wait, hold on, that actually did not work for me. That's right. Or can I please tell you how that made me feel? Not to sound too woo -woo or too therapeutic, like let's just face it, there's a lot of therapeutic techniques in buildings and sustaining and nurturing relationships. And how you do it depends on the conversation you've had with the person you're trying to fix this with. So how you and I might repair a glitch that's happened in our working relationships might happen a different way because we're both fast, we're both slightly skeptical, we're both slightly jittery, as you said earlier on. I'm like, me too. We probably do it in a different way because I don't need so much of the blanket of a therapy language to repair stuff. But we figure that out between us. But with somebody, for instance, on my team, I'm thinking of somebody in particular who has much more of that kind of, I need that kind of language and pattern around therapeutic exchange, I'd repair with her in a very different way. But that's the nature of this. There's not a generic way about you showing up. It is a co -created plan to say, how do we build the best possible relationship together? So you talk about building and designing this best possible relationship through something you call the keystone conversation. And I think by virtue of the title of it, I think I know it's a big conversation and an important conversation, that's keystone. Can it happen at any point in your trajectory of a relationship? Or is it best to happen as someone first comes in the door? Yeah, it's a little bit like that saying, the best time to plant an acorn was 20 years ago, but the second best time to plant an acorn is today. Which is like, you can pull back and say, let's have a conversation about how we're working together anywhere through the arc of a relationship. Now, Joan, I'm gonna say this, just because it's on people's minds as they listen to us talk, at least one person is thinking, isn't this going to be awkward? And I just want to say, yes, it is going to be an awkward conversation. Certainly the first time for you and the first time for that other person, it's like, this doesn't happen very often. And it's a bit unusual to step out of the urgency of everyday work, because there's plenty to do and there's plenty to worry about, and there are plenty of fires to put out, and there are plenty of things to be focused on. To step back and go, let's take a beat and talk about you and me and how we're working together. So I love that, I love that. I will also say, and we'll come back to it in a little bit, we actually put your book to the test yesterday with a brand new employee. I love this. And as part of onboarding, and I talked to the manager and Chris, you indicated no awkwardness at all, but an actual wow, like a receptivity to it where both people benefited from the conversation. So depending on when you, it might, if you get further along, it might be, what are we doing? Like, what are we doing this for? But as part of onboarding, it seems to actually be lovely and organic and welcoming. And give the structure to that. But I'm also going to say, Joan, I that love that's onboarding and a manager to a new team member is the most obvious moment when you would do this very conversation. I'm meeting a new vendor this afternoon. Like, they're going to work with me to kind of help produce SEO stuff and help support the launch of the book. I don't understand it at all. SEO stuff, I like that, yeah. But honestly, I've tried to work with agencies like this before. And for the most part, these have not been great relationships. I haven't understood what's going on. They haven't understood me. And it's kind of deteriorated. I'll be using these same questions or variations on them in the setup with this company to say, when you've worked with clients and they've been really good for you, what happened? What did they do? What did you do? When you've worked with clients and they've kind of sucked a bit, what happened? What did they do? What did you do? And I'm going to answer that as well. When I've worked with an agency and it's been great, what happened? What did they do? What did I do? When it didn't work, what did they do? What did I do? It's anytime you've got a relationship that goes beyond it being a transaction, it might be worth investing in the robustness of that relationship. I totally love that. And in fact, it's funny when I always interview potential coaching clients because I coach CEOs of nonprofits. And I know that I have found someone I want to coach when they ask me, who's your ideal coaching client? How do you know that you've had an impact? It's like, first of all, it actually is a very self -reflecting kind of question. It helps me to focus on what I want out of my working relationships with my coaching clients and it gives them insight into me. And so these are the kinds of questions that are so incredibly helpful. So I want to talk about the Keystone conversation and the elements of it. For those people who may be joining or running on the elliptical or something, I just want to say - We salute you. Joan and I are both in excellent shape, so we don't need to run on the elliptical. And so we are sitting on our asses actually. We embody something so healthy, but for everybody who's exercising as you listen to us, carry on, you're doing great. Carry on, indeed. You have our full support. The Nonprofit Leadership Lab is led by Joan Gary and is the world's best online community for leaders of small nonprofits. Learn how to raise more money, build the board of your dreams, grow a large audience of supporters and so much more. To learn more and request an invitation to become a member, please go to NonprofitLeadershipLab .com slash podcast. That's NonprofitLeadershipLab .com slash podcast. We are chatting about working relationships. We're just talking about relationships. And we're talking to Michael Bungay Stanier and he is best known for a book called The Coaching Habit, which I love. It's a best -selling coaching book of the century, already recognized as a classic. And his new book, which is coming out on June 27th, is called How to Work with Almost Anyone. And that's what we're talking about. Let's get to it. The Keystone Conversation. And maybe you can, because if you go through all five of them, then people won't actually need to read the book. So... Or buy the book. Which I'm okay with. Like, you know, if they're like, I got all I need from this conversation and I can build better relationships, the mission of this book is 10 million better working relationships. And if I can get that through a conversation with you and a million people, improve working relationships because of the Joan Gary influence, then boom, I'm winning. Doesn't matter about book sales so much. But if you want to buy the book, that's fine as well. That's right. We want you to buy the book. But I want you to give people a flavor of some of the kinds of questions that serve as a foundation of the Keystone Conversation. Sure. So I think there are five questions. And I've actually kind of hinted at what two of them are already. So let me just name those and kind of formally tell you what those are. These are questions number three and question four. There's the good date question, which is what can you learn from successful past relationships? Because the key thing you need to know is your past relationships will show you patterns of your future relationships. I know every relationship is different and every person you're working with is different, but the way you show up and the way they show up, there are just recurring patterns that will keep showing up. So you can look back at the best and go, that, what happened there? What did they do? What did they do that contributed to this? Because we've got a natural bias to taking too much credit for the good relationships. It's like, no, it's all me. It's like, it's not all you. What did they do? What can you learn from that? Because telling that to the person you're in conversation with right now, that's going to be so helpful for them. And also explain what you did. So you both get to exchange what best working relationship is. So powerful. But then the bad date question is kind of the flip of that, the dark side of that, which is what can you learn from frustrating past relationships? Because you've had frustrating past relationships, you've contributed to the frustration of that past relationship. It wasn't just that the other person sucked and they were psychopathic and they were terrible and they were bad human beings, although all of those might also be true. But you played a role in that. A relationship is a dynamic between two people. So what was your role? What was your contribution? How do you learn about yourself and how you show up in bad possible relationships, bad working relationships? And just those two questions alone give so much data about what we should strive for and what we should avoid in terms of how we work well together. The third question I wanted to share, number two on the list, was actually the one that your colleague used in terms of setting up that onboarding conversation. Because before you hit record, you told me that story and I loved it. I might tell it again. But no goosebumps up and down my arm. Yeah, it was like amazing. And it was, what are your practices and preferences? So I call this the steady question. We all have patterns, ways of working, ways of using technology, ways of showing up. They the are questions that are often put on what's sometimes called a read me document. They're kind of big on, I think, Silicon Valley and maybe elsewhere as well, which is like, here are a whole bunch of things you need to know about me. And then the old pattern is I've written out this document, I'm going to send it out and everybody should read it and then they'll just understand how to work. They'll just know me. Yeah, they'll just know me. I'm like, you know, nobody's going to read the document or at least read it well. Nobody's going to remember it. That's not how you form a relationship by sending out a manifesto of how to work with me. That's ridiculous. And the content is so useful when you're sharing about your colleague onboarding your new employee. They're like, we started with these conversations, starting with the simplest question, which is what's your name? What's not your name? Yes, I have to actually, yeah. So I do want to talk about this for just a second because I think it was so instructive to me. So I gave Christy a copy of the book last week. I got a, because I have a special friend, I was able to get one ahead of time. I know some people who know some people. And what Christy said, and we have a new staff person and we are a fully remote organization. That's an important thing to know. There are people that work for me that I have never met in person. So we have to work with greater intention to actually know each other. And I believe we do a pretty good job of that. But anyway, so what Christy said was that the questions in this Read Me exercise did seem so simple, but then it just got, it went to all kinds of places. So the first question, what's my name? What's your name? What's not your name? Christy said, it sparked discussion around our backgrounds and our culture and how we grew up. And she went on and what she said is that the introspection required to answer the question helps you get to know yourself as well as the other person. She referred to the good at versus fulfilled exercise. And it completely changes the tone of the manager direct report conversation by sharing answers back and forth. What a great testimony. Thank you, Christy. Yeah, you know. And thank you to Crystal, our brand new employee for saying, hey, let's do this.
Bitcoin Audible
A highlight from Read_775 - The Fed Threatens to Sue Bitcoin Magazine
"We have no interest in causing confusion, mistakes or deception. That sounds more like a job for those responsible for telling the market they wouldn't raise rates after a massive monetary expansion and then went on to raise them faster than at any time in US financial history. The best in Bitcoin made audible. I am Guy Swan and this is Bitcoin Audible. What is up guys, welcome back to Bitcoin Audible. I am Guy Swan, the guy who has read more about Bitcoin than anybody else you know. And I want to go ahead and preface this episode with a legal disclaimer. All of the comments and ranting henceforth are the sole opinion of Guy Swan and Guy Swan only. Guy Swan is not affiliated with Bitcoin Magazine and does not represent Bitcoin Magazine or BTC Media in any capacity. The claims presented herein are entirely my own thoroughly informed opinions. With that out of the way, apparently the individuals running the Federal Reserve are in fact retarded. They have threatened to sue Bitcoin Magazine for t -shirts and hats that poke fun at the FedNow service that apparently just recently launched which I wasn't even aware of. And I genuinely think this course of action just shows how utterly blind the people in the Fed really are. You know, I increasingly do not think they have any sort of a master plan. There's no 4D or 3D chess going on. Hell, there might not even be 2D chess being played here. I think they just live in a bubble of people who think that they are the most important and powerful people and that everybody just has to appease them and just wants to get on their good side because if they have any ghost of a hint of what's about to happen, they could literally make billions, hundreds of billions of dollars because of how absurd the very notion of the Federal Reserve as a price control on money and interest is. I think they're just in that bubble and they think they're so important and that everybody thinks of them as wonderful and powerful and important and they don't have the slightest clue what is happening in the real world. I mean, how could they be so clueless as to who Bitcoiners even are? Did they really think they were going to get an apology? So I think it was Walker I saw the first post about this and so I immediately stopped and just read the whole thing. It's pretty short, but it's the Bitcoin Magazine official response, the editor's response and like a public note that was published on this issue. And it's really entertaining so I thought this was a great way to close out the week and I hope you guys enjoy it. This episode is brought to you by Nodeless, the easiest way to set up to receive Bitcoin for your products, for donations, for your online store, whatever it is. If you want to receive Bitcoin in payment and you would rather not have KYC, you would rather not have to subscribe to something, you just want to make a non -KYC account, punch in your Bitcoin address and then just have it work. And anything that you get through the service just goes straight to your Bitcoin address. Well great, all you have to do is check out BitcoinAudible .com slash Nodeless. And speaking of an address, you're going to want to get that off your cold card so that you know you actually have it safe. The cold card MK4 is a phenomenal hardware wallet. It's so great to use with your phone because you can activate NFC so you can literally just tap to send. And it keeps your keys totally separate from the device so that you never have to worry about having your coins on a mobile wallet because they aren't. They are securely on your cold card and stashed away offline. Your keys never touch the internet. That's what makes it a perfect pairing with Nodeless. And that's also where you're going to withdraw your FoldSats from. When you have your debit card, it gets you Sats back on everything. Got some DoorDash earlier today, I think I got 3 .5 % back. Withdraw it to your cold card, you've got Sats coming in from every direction. Oh, by the way, you can actually buy Bitcoin now in the app again in every state. Or at least I know in North Carolina it's available again because I got the announcement today. Again, that is no fees and you can buy it directly in your Fold app with your debit card. Links to all of the stuff will be right in the show notes. Alright, with that, let's get into today's read. And it's titled The Federal Reserve Threatens to Sue Bitcoin Magazine By Mark Goodwin The U .S. Federal Reserve is taking legal action against Bitcoin Magazine in an attempt to silence criticism of its recently launched FedNow interbank clearing and settlement service. In a letter sent to the publication by the Federal Reserve Bank of Chicago, the Central Bank of the United States is claiming that Bitcoin Magazine merchandise that parodies its services are not protected speech, but rather an unauthorized infringement of its image and trademarks. The dispute centers around the use of the FedNow service image and trademark in a line of merchandise sold by Bitcoin Magazine that seeks to criticize the surveillance capabilities of the FedNow system and how it threatens American civil liberties. The Federal Reserve alleges that Bitcoin Magazine used the trademark without permission to mislead readers into believing a connection exists between the publication and the central bank.
Simply Bitcoin
A highlight from Why Did The Bitcoin Price Go Up? | EP 859
"It's all going to zero against Bitcoin, and it's going up forever more. Bitcoin! You're against Bitcoin, you're against freedom. Yo, good morning, everybody. We're back. It's Thursday, November 2nd, the year 2023. And as you can see, we're not going to really speculate on where the price is going. We're going to cover why we believe the Bitcoin price is going up. There's a new meme on the market in the Bitcoin Twitter sphere of flight to quality. Is it the halving? Is it people concerned about inflation? Is it a gamma squeeze? Maybe it's all of the above. But as we all know, as humans like to pinpoint certain things to make us feel better about what is going on in the market, anything, anyways, one thing is for sure here, the Bitcoin price is getting frothy as we are moving into the early stages of a bull run. I hope you've been stacking. I hope you continue to stack. I hope you're taking your Bitcoin into cold storage because it's going to be a fun, fun ride the next few years. I'd say two years, 18 months after the halving. It's going to be a great, great 2025. I think 2024 is going to be even better. Just moving up, slow grind and just seeing everyone in disbelief as Bitcoin rises from the ashes. Anyways, we got some videos. We got some news. We even got an awesome guest. Absolutely love our guest today. So, of course, guys, welcome to Simply Bitcoin. We are your number one source for the peaceful Bitcoin revolution. We cover breaking news, culture, memetic warfare. We bring on Bitcoiners from all around the world, from the biggest names to the everyday. Can I cuss? Badass Bitcoiners. We got them all. We will be your guide through the separation of money and state. Of course, I'm not alone. I got my boy, Rustin. Rustin, good to have you on the live show, bro. You've been killing it on the YouTube timeline in the original Simply Bitcoin content. And good to have you, bro. Last time we were on, we hit all time high. Let's go. So hopefully we can maintain that streak. But how are you doing? What are we covering on the news today, bro? Well, Rustin's covering the news today, so you know, it's going to be highly regarded and bullish. But we got a guest here that's might help me bring it back down or he's just going to amplify it. We'll see. But we got a lot of fun coming. A lot of great news. Clown world continues to devolve, but also that's very bullish for Bitcoin. I don't know. We got some big news from Fidelity basically says, you know, Bitcoin's gold, but like 10 ,000x better. So we're going to talk about that. They have some projections and we're just going to totally trash clown world. And the I don't know, man, I smell all that. That's I smell a flight to quality and a hint of hyperinflation in the background. So let's get the hell after it today. Yes, yes, yes. And as everyone's saying, actually, guys, we actually will be touching on some treasuries today. Yes, I know. Flight to quality meme is strong with everyone. Macro, macro, macro, macro.
Bloomberg Radio New York - Recording Feed
Monitor Show 05:00 11-02-2023 05:00
"Investment Advisors. Switch to Interactive Brokers for lowest cost global trading and turnkey custody solutions. No ticket charges and no conflicts of your interests at ibkr .com slash ria. And the Bloomberg Business Act. This is Bloomberg Radio. From the Bloomberg Interactive Brokers Studios, this is Bloomberg Daybreak for Thursday, November 2nd. More US citizens as President Biden calls for a pause in fighting with Israel. Jay Powell hints that the Fed could be done with the most aggressive tightening cycle in four decades. George Santos survives a vote to expel him from the House. And Apple gets set to report earnings today. More unrest at New York colleges as the Middle East crisis continues. Plus a firestorm on Capitol Hill as Senator Tuberville plots military confirmations. I'm Michael Barr. More ahead. I'm John Stashour in sports. The Texas Rangers World Series champions for the first time. The Knicks lost to the Cavs. The Nets won in Miami. That's all straight ahead on Bloomberg Daybreak. On Bloomberg 1130 New York. Bloomberg 99 .1 Washington D .C. Bloomberg 106 .1 Boston. Bloomberg 960 San Francisco. Sirius XM 119. And around the world on BloombergRadio .com and via the Bloomberg Business Act. Good morning. I'm Nathan Hager. And I'm Karen Moscow. And U .S. stock index futures are higher this morning. S &P futures up half percent. Dow futures up three -tenths of a percent. NASDAQ futures up six -tenths of a percent. And the 10 -year Treasury yield 4 .71 percent. Nathan. Karen, we begin with the latest developments in the Middle East. President Biden says Israel and Hamas should pause fighting to allow time to free more people from the Gaza Strip. Speaking in Minnesota, the president responded to a protester.
Dennis Prager Podcasts
A highlight from Corruption of Education
"It's Mark Eisler back with you again, filling in for Dennis Prager. And I didn't hit the right button, so we were off a few seconds. Everything's changed. I can see Sean on television all the time. He's not wearing a tie, but I'm not wearing a tie either, so it's okay. And he played a song. I didn't ask him. I asked him to play a different bumper music. He didn't play that. No, I like that song. Don't get concerned. All right. No, no, no, that's not the song I said for you to play. All right. This is my 15th year of filling in for Dennis, and this is an interesting story. Someone had posted on Facebook something about Dennis, so I wrote, it's a privilege, honor, whatever I said, to be filling in for Dennis now up to 15 years. So this is the first challenge question for Sean and the staff. So a local talk show host who was on in Los Angeles many years ago wrote, he thought he was being clever, of course. He wrote, there's only one thing worse than Dennis Prager, and that's filling in for Dennis Prager for 15 years. So I'll give you one hint, Sean, and the rest of you. He was on before Rush Limbaugh on this competing station. And I don't, I'm seeing a look, I want to see if he knows already before I give the next hint. All right, I'll save the next hint for later. But anyway, like Dennis, I laughed at it. I wasn't offended. I I'm thought in good company if he's listening me with Dennis Prager. So I thought, oh, that's terrific. So I see what Dennis means. That's not the first time I've been attacked, but it's the first time in collusion with Dennis in some ways. But you also can follow me on Facebook. Oh, you're looking it up, Sean. That is not fair. I see Sean much better now. He's on television for me, and he's looking it up. That's not fair. I thought you would try on your own. Anyway, the second hint was he was like a shock jock, I think. You don't have to say it yet. Think about it. Anyway, you can get in touch with me on Facebook or write to me at markislerataol .com, M -A -R -K -I -S -L -E -R at aol .com. I can't do the show. He looks puzzled. He usually, Sean, he usually gets these things right away. And I'll try to answer you as I did with this obvious fan of mine and Dennis's. Or you can hear when my podcast is yet to come, and it will start. But for now, I want to comment on the news in the Middle East. The events have been horrific. I worry every day about where this is going, especially with our own feckless leader in charge. I can't even look at the pictures of those who were slaughtered or raped or look at the images of where entire families were obliterated. Dennis has explained it all so well. The idea of moral equivalence or cycle of violence is uttered by those with an agenda or hate or so totally uninformed that they have no clue of what they speak. And this is where I come in. There's probably no other national talk show host who is as familiar with our educational system as I am. I've taught in every level. I remember I wasn't very good with the younger kids in the sense that I remember I taught first grade one day and they were all over me and grabbing my hand and I thought, I don't think this is for me. But I did teach every grade. You may know I teach adult school now. Over two decades of experience as a teacher. I can give you some insight as to why our young people have no clue about what is really going on. They have been indoctrinated ever since the unions became so dominant in our schools. President Kennedy issued an executive order allowing federal workers the right to collective bargaining. By the way, don't you just love executive orders when they bypass Congress and in effect presidents make law? That was a colossal mistake by President Kennedy. And so was followed locally by Albert Shanker. He led the New York City teacher's union at that time. They struck the New York City schools and the schools were never the same. They got the money they wanted and even more important, the power they craved. When the unions got power, education began its long downhill slide. They didn't care about the students, just the power. And I said this many years ago, if ever the goals of the teacher's unions matched the goals of students, it was purely a coincidence. It always amazed me that they'd hold up signs, save our schools. They didn't mean save our schools, they meant save their power, save their money, get them more benefits. And that, by the way, they did that very well. They got incredible money and benefits for their members. And they've done that very well for all these years. But when that power began, instruction also changed. I remember walking into a union building, I don't remember what the occasion was, and there was a big flag that said, bilingual education, the wave of the future. And if you remember bilingual education, when they taught it, it neither helped the students in any way because they became fluent neither in their native language nor in English. But guess what? The teachers got an extra $5 ,000 a year for teaching bilingual education. So of course they were for it, or at least the ones who cared most about their money. It was a disaster for the students, but the teachers, as I said, got their money. And it continued with the teacher's union, putting their own left -wing philosophy in place. That was the beginning of the end of valuing Western civilization. Union members became more and more liberal until today they're outright leftists, at least their leaders are. Many of the teachers are not.
Tech Path Crypto
"hints" Discussed on Tech Path Crypto
"Other things playing into this is Bitcoin versus gold. How do those things play out when we continue to see pressure on the market? Now ironically, back on the Squawk Box interview there, you saw that the possibility of a recession actually dropped below the 50%. And it was above the 50% for quite some time, dropping below. Remember though, I'm always skeptical of these things when we start to see many of our government agencies and our government analysts give us this kind of data because it usually, unfortunately, is wrong. And that's the thing that we got to keep an eye on because this is where it's going to lean into Bitcoin and gold. If you look at Bitcoin over time, a couple of things to kind of compare here, inflationary environment of the 70s, gold's achieved unprecedented growth, surging over 1,000%. Obviously, Bitcoin didn't exist back then. But it does raise a question on whether Bitcoin could potentially outperform gold in the same manner that gold has outpaced equities in 1970. So I'm going to throw up a chart here in a second to give you guys kind of an idea of where Bitcoin and gold kind of flow. But it is something to be aware of further into it. So it's definitely a chart here just kind of showing you the ranges here between 19, I think that was it, 1970, all the way through this period of time where it really took off there in terms of growth. Warren Buffett also has invested in, ironically, into a crypto-related stock and it's beating his own Apple and Amazon, which is his kind of highly coveted stocks and securities. But this, of course, is New Holdings, which he invested. Berkshire put $500 million in New Holdings in June of 2021 and raised its stake by another $250 million in December of 2021. So interesting things happening out there in the traditional investment lines. So are crypto investors in for a big 2024? Now, VanEck, we did a full report yesterday on the whole Solana. I know we had a lot of comments. Thank you very much. We didn't make that up. Those were numbers right from VanEck's reports. But it's an interesting point because VanEck has been in, I would say, I won't say accurate, but they've been on point with some of their investment calls over the years. Some of the things they hit on in this article near the end of the Fed cycle tightening were certainly closer to the end than the beginning. Now with that being the case and also with the Fed saying that maybe we don't see a reverse or a pivot, slight pivot till now what looks to be the second quarter, possibly third quarter of 2024, I wonder if VanEck's position is still the same. If one is cynical about the election, then you would want at least six months for lower rates to kick in. I don't know that that's going to happen. With the pace in which we're seeing the market, GDP, job growth, and then also just inflation of where it's holding, credit, even though it's declining, we're seeing more and more. I just saw this number yesterday where the amount of interest that Americans are paying has doubled in the last six months and is estimated to double again in the next 90 days. What I mean by that is the amount of interest that you're paying out of your regular income towards whether it's credit cards, car loans, those kind of things, all of that continues to climb because of the climbing interest rate. That's the big question mark of whether or not the political environment can get a reverse on what's happening in the economic environment at the same time. VanEck also points out to the SEC, recently approved e-futures ETFs, a potential model for Spot, and then they said, listen, we don't want to give anyone an issue or an unfair advantage. I think that goes back to the point that we'll see a lot of them approved at the same time. It's really the first time in ETF history where something like this, of course, has happened. Then globally, everyone has their eye on the SEC, granted. There are many things happening on the global front, and I've said this many times. When the U.S. decides to get in this game, that's when the party starts. It's just because of the amount of investment capital that is here in the global reserve capital of the world. I think this is a thing that we will continue to see going forward. Couple other points I want to hit on right here. Crypto bull run fueled by regulations, back to the point that we've talked about. There's a couple of things that have gone in this direction. I think the next push is already happening. This is the MICA push. Let me kind of zoom in on that for you guys a little bit. Huge thing. It will unify the market and set clear rules. That's obviously going to happen in Europe. Regulations, however, are the potential change for the narrative and could spark a new wave of adoption. This is an interesting thing because, remember, the EU is the MICA regulation, but you also have all of this happening in the U.K. as well. The U.K. has been a little bit more strict on crypto and blockchain-related companies, but I think things are changing. There was a tweet here I want to hit on that kind of gets into it. This was a nice thread, if you guys want to go check it out, but this is talking about the U.K. government just dropped a bombshell with their final crypto regulation proposals. Some of the things they were hitting on I thought were interesting. Regulation will be phased in. Legislation for fiat-backed stablecoin to be introduced in early 2024. That is much faster than I anticipated, especially coming out of the U.K. Further into this, regulations will cover crypto activities, bringing them under the oversight of the Financial Conduct Authority, the FCA. That's another area that's going to be considered. The point for me, at least I look at the U.K., because the U.K. is one of our biggest allies, if not the biggest ally, and the likelihood of us seeing this kind of activity putting even more pressure than the E.U. pressure that we saw from Mika onto U.S. lawmakers, I think, will be a big deal. Let's not forget, of course, Gary Gensler. I've got a tweet here for that, but I just want to jump over to Bitcoin. We're on the four hour, but I do want to show you guys something here. Let's squeeze this down a little bit. You can kind of see this nice growth here on Bitcoin. Over the time, if you go back all the way to mid-October and see that growth there, and I'm going to compare this to gold because I know everybody's been kind of pushing on that. There's that 30% move. This is really unheard of when you think about this in the land of Bitcoin. Let's go take a look at gold real quick, almost in that same zone right here around mid-October. We'll come in right here to October 12th. And right here we are on this spike down around 6%. So in short term, yes. But when you start to scan out on the daily with gold, that's where it gets kind of interesting because of this rise that we've seen back here, all the way back into November of 2022 as to where we are right now. So I don't know, maybe it's one of those that you could hedge, but I still think Bitcoin, if you are looking long-term. But if you're wanting gains, then I'm looking at other assets. Obviously, Solana is one that I'm big into. I also see Ethereum. And then there's a lot of other altcoins that I think still have some potentials. But Bitcoin is going to have a retracement. I do feel that is going to happen. And if I just look at sentiment in general right now, we see a lot of overheated. Granted, the move still on ETF, if we hold above the 33, 34 range, a move on the ETF could take us into the 42 range. So it still could still be a play for you guys from a strategy standpoint. Of course, Gensler comes out and does the unthinkable. He tweets and, you know, when he tweets, there's usually something behind it. He doesn't just do this. Now, granted, yeah, it's Bitcoin's birthday, but I love his last statement. Don't love it, but it's always so classic Gensler. Any crypto companies that are tricking investors should start treating them to compliance with the securities law. Who writes this stuff, man? Who writes this stuff? And, of course, this was even better. I loved what Udi responded. Thank you, Solana. You got me feeling like a go-in. All right, anyway, this is fun, but yet serious at the same time. So, anyway, you guys want to drop some, of course, comments. Give us your thoughts on where ETFs are moving here in November. Do you think we'll get one before the end of the year? Let me know. You know, put a yes if it's before the end of the year. Put a no if you think it's in 2024. Let me know down in the comments below. If you're not part of the Diamond Circle, get in now. It's the best place to catch additional content. I got some surprises for you guys over there. You don't want to miss it. Just click the link down below, and you'll be able to join in very easily. If you guys want to catch me on X, it's at Paul Baron. Catch you next time right here on Tech Path.
Tech Path Crypto
"hints" Discussed on Tech Path Crypto
"Good morning, Joe. Yeah, while respondents to the Fed survey expect no additional hikes, they have now fully embraced the higher for longer mantra from the Fed to the point where no rate cuts are expected until now the third quarter of 2024. Here's the Fed's spectations chart from the Fed survey 100% say, Rachel, we unchanged this week 5.29%. That's the peak rate they hold there for 10.4 months until September. It had been July. It had been even earlier surveys suggested the Fed may cut at the beginning of next year. That is now September 2024. The 31 respondents, they include economists, strategists and managers, fund managers are divided on the outlook. They put a 42% probability on there being a soft landing and a 49% probability on a recession. Interestingly, that is now below 50%. On the outlook for the funds rate, here it is, 538 is the current number. I'm going to pause it there and kind of jump in on this because what they're getting at on the higher for longer, but the interesting thing here is how they're playing this out. I wanted to freeze that frame because there's a couple of charts here to kind of look along the current at 538. These are Fed funds rates down possibly to 542. Some people looking at this maybe as a, I should say up, maybe as a possible rate increase for the end of the year. We'll see. And then December of 24, that's how far they're pushing this out before we'll start to see a sub five number. And then of course, December 25, 25 could be the year of the opportunity for the Fed to pivot. Now that is a long, much longer analysis than what we've seen in the past. Further in the charts that they're showing here, let me kind of scan through here. There was a couple more that I wanted to kind of break into right here. Inflation outlook. This is another one that is interesting to me, 365 currently for 23 down to around 2.86. That's their target forecast right now. This was a Fed survey, but 2025 still not hitting their target rate of 2%. So it's going to take some time to get there. And then when you look at this outlook right here, which is the one that is a little bit concerning for me, at least on the GDP, and that is going from a 2.42, which we have a strong GDP here just this recent month, and looking at a 0.73 growth. So very, very soft 2024. This is where we will start to see, I think, liquidity coming into the market for potential rebounds in many of these categories, especially around crypto. So this is another opportunity where we'll get a chance to see some things happen, I think, in early 2024 to mid-2024. Now granted, we're already starting to see some things happening right now in a big way, and part of that is in relation to the ETF. We've already seen Bitcoin fly up to $35K just on the hint, the sniff of an ETF. Where will it really go as we start to go forward? I wanted to jump over to this article, and this was in reference to possibly the SEC greenlining a spot Bitcoin ETF November 2nd. This is a lawyer, Scott Johnson, we've been covering him for a while, and he's from Davis Polk. Now he hits on a couple of points here. His tweet brought attention to an upcoming closed-door meeting scheduled for November 2nd, and then he also remembers that there were leaks of the closed meeting ahead of the Bitto launch, which he added. Now that's the interest that he's pulling to it, meaning closed-door meetings usually indicates there's something up. There's usually something in the wings. Now does that mean that we could see a November 2nd approval? That's the big question. That's where Johnson's kind of leaning. Couple other things I want to hit on right here from James Seyfert, just as an update, this is Valkyrie, of course, joining the prospectus amendment train for their spot Bitcoin ETF. So again, this is just more and more fuel to the fire of an approval likelihood, which I think continues to climb. I'm sure that Balchunas and James are both putting this well over 90% before the end of this year. I know that Eric was holding it pretty heavily. Empire Strikes Back active ETFs take 21% of the flows, account for 73% of the new launches up from five and 25 years ago. So that just shows you why this is so important to companies and investment firms like BlackRock is the amount of opportunity here in terms of revenue and profits. This is going to be a big deal for many of these funds, including Fidelity and, of course, ARK. We'll see with 21 shares.
Tech Path Crypto
"hints" Discussed on Tech Path Crypto
"All right, so today let's dive into ETF and the probability of maybe an early Christmas present and that is an ETF possibly by November 2nd, that's right, just a few days away. And of course, happy birthday Bitcoin, October 31st, 15 years ago today, we're gonna talk about all that stuff, break it all down for you guys, you're gonna love it. My name is Paul Baron, welcome back in Tech Path. Let's get started today and let's talk about our sponsor, and that is iTrust Capital. If you guys are going long-term on some of your holdings and you wanna do it in an IRA, this is the time of year that you can start doing some tax planning, obviously, as we get closer. And these are the things, obviously, you should be checking with your own tax planning professional, but this is one of the options you can use, and of course, you can get into Bitcoin, Ethereum, as well as gold and silver. A lot happening over there on iTrust, $7 billion in transactions, 200,000 accounts created. So check them out even over on Trustpilot. So got a good stuff for you, you can get additional $100 funding reward by just using our link down below. So check it out. All right, let's go into a couple of topics and I'll start with Lynn Alden. This is a tweet from Lynn, talking about the Treasury and what we're gonna be expecting overall, expecting to bar nearly $1.6 trillion over the new debt during the next six-month period, covering the quarter and next quarter. This is kind of the breakdown for it, let me kind of zoom out on that for you. This came out of the U.S. Department of Treasury. And the interesting point here, when you look at that, during October, December quarter 23, we're gonna get about $776 billion in privately held net market debt, and then by assuming an end of December cash balance of about $750 billion, and then borrowing the estimate is $76 billion lower than announced back in July. So I guess that's good in a sense, but January to March, which is first quarter next year, they're gonna come in and borrow $816 billion. So that's where we get into some pretty significant numbers here. And this, of course, plays into a lot of the overall market strategies and why an ETF is so important, because we may see more and more institutional capital look for flights of safety instead of U.S. dollar, instead of bonds, U.S. treasuries, possibly even money markets, and going into ETFs. So that'll be the thing to watch pretty closely here. Another thing, too, right here from COBEEC, Fed members saw long-term interest rates around 2.25 to 2.5. Now we're seeing a sharp move higher. This is a big deal. Fed fund rates now expecting around 3%. So that in itself is a pretty big issue. And I'll show you a Squawk Box video here in a second that breaks down some of the trends that are starting to align with the Fed. We will be doing a live stream on the FOMC meeting, breaking down some things with whether or not we get a rate increase. But really, as you guys know, what I like to do on those FOMC meetings is really understand the engagement between Chair Powell and the reporters at the end, because that usually gives us a lot more insights to what the Fed is thinking. Let's go over to the Squawk Box video. I want to start with this one. Listen in. To the CNBC Fed survey, are pricing out any future hikes, but extending for even longer the time that the Fed stays where it is now at its terminal rates? Steve Leesman joins us now. Hey, Steve.
Tech Path Crypto
A highlight from Gensler Hints at Bitcoin ETF Approval in November
"All right, so today let's dive into ETF and the probability of maybe an early Christmas present and that is an ETF possibly by November 2nd, that's right, just a few days away. And of course, happy birthday Bitcoin, October 31st, 15 years ago today, we're gonna talk about all that stuff, break it all down for you guys, you're gonna love it. My name is Paul Baron, welcome back in Tech Path. Let's get started today and let's talk about our sponsor, and that is iTrust Capital. If you guys are going long -term on some of your holdings and you wanna do it in an IRA, this is the time of year that you can start doing some tax planning, obviously, as we get closer. And these are the things, obviously, you should be checking with your own tax planning professional, but this is one of the options you can use, and of course, you can get into Bitcoin, Ethereum, as well as gold and silver. A lot happening over there on iTrust, $7 billion in transactions, 200 ,000 accounts created. So check them out even over on Trustpilot. So got a good stuff for you, you can get additional $100 funding reward by just using our link down below. So check it out. All right, let's go into a couple of topics and I'll start with Lynn Alden. This is a tweet from Lynn, talking about the Treasury and what we're gonna be expecting overall, expecting to bar nearly $1 .6 trillion over the new debt during the next six -month period, covering the quarter and next quarter. This is kind of the breakdown for it, let me kind of zoom out on that for you. This came out of the U .S. Department of Treasury. And the interesting point here, when you look at that, during October, December quarter 23, we're gonna get about $776 billion in privately held net market debt, and then by assuming an end of December cash balance of about $750 billion, and then borrowing the estimate is $76 billion lower than announced back in July. So I guess that's good in a sense, but January to March, which is first quarter next year, they're gonna come in and borrow $816 billion. So that's where we get into some pretty significant numbers here. And this, of course, plays into a lot of the overall market strategies and why an ETF is so important, because we may see more and more institutional capital look for flights of safety instead of U .S. dollar, instead of bonds, U .S. treasuries, possibly even money markets, and going into ETFs. So that'll be the thing to watch pretty closely here. Another thing, too, right here from COBEEC, Fed members saw long -term interest rates around 2 .25 to 2 .5. Now we're seeing a sharp move higher. This is a big deal. Fed fund rates now expecting around 3%. So that in itself is a pretty big issue. And I'll show you a Squawk Box video here in a second that breaks down some of the trends that are starting to align with the Fed. We will be doing a live stream on the FOMC meeting, breaking down some things with whether or not we get a rate increase. But really, as you guys know, what I like to do on those FOMC meetings is really understand the engagement between Chair Powell and the reporters at the end, because that usually gives us a lot more insights to what the Fed is thinking. Let's go over to the Squawk Box video. I want to start with this one. Listen in. To the CNBC Fed survey, are pricing out any future hikes, but extending for even longer the time that the Fed stays where it is now at its terminal rates? Steve Leesman joins us now. Hey, Steve.
Evangelism on SermonAudio
A highlight from My Way: Part 2
"This is the message in Judges that I've been thinking about for a long time. It's one of the more awkward texts to preach to a collective group of people, and I hope to do so in a tasteful way that doesn't raise a thousand questions from five and six -year -olds for parents. So it's just, it is a weighty matter. It's something that connects very quickly and very directly to our society today. And so it'll feel very current. It's not, typically I don't grab the current headlines, never do when it comes to preaching, walking through the text. But I just wanted to share upfront as we dive into when everyone's right and when we look at when morality is done our way, what it looks like, and that's the picture that's painted here. We're gonna be looking at Judges 19 through chapter 20 verse 14. This story will end up getting split into two because the lesson that is taught shifts and moves. As we close out the book, we watch Israel act in a way where they saw themselves as right. Even though there's hints and glimpses of righteousness, they struggle at the end doing things their way and then fixing their problems their way. And we see them just repeatedly or repetitively rejecting God's law. But here we are in Judges 19 and I put down in my notes, if there ever was a hint of moral fiber in our society, it seems to be completely stripped away today. Almost daily we're adding new letters to what I like to call the perversion alphabet. Our society appears to be tripping over themselves to find some new way to engage in immorality or some type of perversion. If you read Ecclesiastes, there's a statement in there that says there's nothing new under the sun and it appears our society is making sure that everything done under the sun is done in the full glare of the sun shining upon it. There's a desire for everything to be out public, to be exposed, to be on display. But I want us to understand something about our society because I know we oftentimes look at it and think, could it be worse or has it ever been this bad? And I want to say this, yes, it has been this bad. We are not the only society in history to have displayed such public immorality or debauchery. You just have to read history and you can trace the cycle. Ecclesiastes, of course, being God's word is accurate. It's correct. There's nothing new under the sun. We're repeating the same sinful patterns that have been there. We're not the only ones to do this in public. We are not alone in the complete rejection of social norms to engage in twisted desires, to have no restraint upon ourselves, to see our world. And they say to themselves, I'll do what I want. I don't care what anyone says. And specifically they're saying, I don't care what God says. And so we find that rampant immorality and lack of any real moral fiber was also a sad reality during the period of the judges. Now we've walked through the first story. There's two closing illustrations. There are real stories. This is not something that was said to make a point, but instead was a real narrative, a real unfolding that people then God used to share what was taking place. And so the first story of Micah, Jonathan, and the Danites was when everyone was right in their own eyes, they will worship their way.
CoinDesk Podcast Network
A highlight from GEN C: From VR to AI, Mattels Vision for the Future of Play
"This episode of Gen -C is sponsored by Chainalysis. Gen -C is the generation of the new internet. In Gen -C, the C stands for crypto, but it also stands for creators, the connected consumer and collectibles, both digital and physical with on -chain provenance. It stands for culture and characters, the ones we play in games and the companion ones that AI is building alongside us. It stands for community and digital citizenship and the new set of transparent and trustless tools being built to govern them. These are the people who were raised on a different philosophy on how they look at money, how they look at identity, how they look at privacy and how they look at the hybrid, digital and physical spaces being built all around us. And finally, how they reimagine their relationships with the communities and companies they interact with. We focus on how brands large and small are building for these audiences. Welcome to Gen -C. Sam, so nice to see you. Avery, how is everything? Where in the world are you? I think we're matching color -wise today, which I really like. What's going on? Gen -C in neutrals. Yes, we are. I'm live from Hudson Yards. How about you? I'm live from Flatiron. We're like a stone's throw from each other. We should have done this live. Neighbors, we really need to do more live episodes. That should be one of our goals. We should do that coming up for our Basel. Are you going to be there, Sam? I'm going to be at our Basel. I would love that. Let's figure it out. Maybe we can do some Gen -C merch all in Off -White or maybe an A -Crew might be nice. A little touch of Gen -C neutrals. Maybe a little hint of green, though, to nod towards our branding. Always up. Avery, I think we're going to deep dive in this intro into the immersive worlds that is immersive worlds. So I've sort of collected a bunch of things to talk about that I want your opinions on, that I want us to mix it up about. The first is, and I think I shared this with you, was reading a report on virtual brand environments from, I don't know if they're pronounced G -I -Q or Geek. It's Geek. Charles' company Geek. Yes, Charles' company Geek. I saw the report on virtual brand experiences, which was really interesting, but the thing that sort of stuck out to me most was when you measure the properties that under -25s are spending most of their time in. Number one is Roblox, something you've been talking about forever. Number two, TikTok. Three, YouTube. Number four, Minecraft. So you think about that, it's two virtual worlds and two really entertainment -focused social platforms. And so I wanted to sort of get your thoughts on this as a reality, really for the marketers in the room, because I've been having a lot of conversations, as I'm sure you have in the last couple of weeks, on how we should be thinking really future, right? Like 12 months, 36 months, about the rise of these virtual environments, both VR, AR, and gameplay, as well as video. And what is a brand to do with these spaces? How do you guys approach bringing brands into these environments? Yeah, it's a good question, Sam, and I think it's one that's very blurry because if you ask 10 different people, you're going to get 10 different definitions of what is an immersive experience versus a game versus a metaverse versus a virtual world. And what I've observed working with a lot of these platforms directly is they all characterize them a little bit differently. Some of them like to lean into gaming, some like to learn into metaverse, cough meta, some like to lean into immersive experiences, some like to lean into immersive social. Like Roblox very clearly does not identify themselves as being a gaming company, though a lot of their players actually identify as gamers and as people who are playing in a game. And the way that we think about it is, one, it's like social, where there's not just one way to show up on social. There's X, there's meta, there's TikTok, and there's always a new thing. Just this week, like Flip has been trending and has been everywhere. So I think the same is probably true of these immersive worlds and immersive experiences. Some of them are a destination, some of them are a platform, some of them are communities, and one thing's for sure, there will continue to be more and more of these built because people want to engage and interact virtually. And as we know very well, people want to own things online, they want to bring their digital items with them across different realms. There's a lot that people are trying to crack in terms of interoperability, but balancing interoperability with scalability I think has been a challenge. But the way that we think about it for brands is consumers are looking for these ownable, immersive, personalized experiences. There is no question about that. There is no question about where they're showing up, and we have a lot of data to back that up. Geek, of course, has put out these fantastic reports. They have their own self -service platform as well, where you can see what they have access to data -wise, so you can sort of validate that people are there. And the way to show up, from my perspective, is very similar to how brands try to experiment with any new place. It's authentically connect with those communities, authentically partner with the leaders in that space, with creators in that space, and learn before you go all in on launching something that's fully brand -owned. What stands out to me from what you're saying is three different things. One is it actually reminds me of the beginning of when Experiential was becoming a thing. Yes. Because in the beginning of Experiential, which was really like when I was really building most of my career, every company had a different name for what Experiential was, right? Some were events companies, some were PR companies, some were doing activations, some were doing stunts. No one could align on what the language was even, so it was actually very hard to be an agency in that time because you're selling five different things to five different people in ways that you're hoping to get a little bit of a budget from someone who had to take it from somewhere else. And then at some point, Experiential just became the accepted category, and it feels like now virtual or persistent experiences feel like there's a moment happening around that. The second thing that I want to digest from what you said, which is the hypothesis we've talked about a little bit, but I've been just going and battle -testing it with other folks in the space, is this idea that the evolution of experience design is going to these immersive worlds. And so in speaking to a digital marketer, a large brand, this past weekend, I kind of asked their opinion about this, and the thing they said, which I thought was really interesting, was it costs the same for them to build an experience in a virtual world than it does for them to create one pop -up event experience in a major city, right? So if you really break that down, it's like you can do your influencer event in Tokyo or in Paris, and you're going to spend a couple hundred thousand dollars to do it, or you can build something in a Roblox, in a Minecraft, in a Fortnite, in a Zapeta or Spatial, and you can have tens of thousands of people go through it versus 500 in a single evening. So they were looking at a little bit like kind of this analogy of if we're going to be doing five events this year, maybe one of them actually is a virtual space that ends up being our always -on 24 -7 experience, and then the other four are IRL, and they kind of feed into each other. Oh, you didn't get to make it to our event? Go enjoy it in whatever world it might be. So I thought that was also an interesting framing of experiential as a stepping stone. Now it's going to be live events, augmented hybrid events, and then fully immersive events. Any thoughts on that? I love that, and I think theoretically it makes sense. Practically, event space designers, like the environment design, inherently has to be so different, even between Roblox and Zapeta. That's the reality. It can be the same sort of broad concept of, hey, we're going to show up in this type of a way, but it's not like you can just take your renders from Art Basel and put them in Roblox and it's going to work. So I think it still has to be fit for context. The same way it has to be fit for context in different cities and in different pop -up experiences, it also has to be fit for context and fit for format in these different worlds. And I think what you just explained is the way a lot of brands would think about it. It's like, well, I have this pop -up, and I'm now going to just virtually pop up. If you do that, if you build it, they won't come unless it's good, is my two cents. Of course. Well, two things. One, I think we're not there yet, but I know there's a bunch of people who are working in this space, that we are entering a place where the tools you use to design your 3D, your fabrication, and your event design for a pop -up are going to be able to output into game -ready assets that you could import into a Unity, that you could import into an Unreal. And this is something I've spoken to a fair amount of people in the architecture space about, that as they're designing spaces now, it's getting easier and easier. It's not a one -to -one solution, yet there needs to be some middleware. But I do think that if you were designing the flagship Gucci store in Venice, and you wanted to create that version in Roblox or in Spatial, it wouldn't be as hard today as it would. No. I think it's getting easier and easier, and I think theoretically it makes all the sense in the world. And we haven't seen that many people doing it yet. I think it's really smart, and I think people who really understand experiential should gravitate to scaling this out. And then I wouldn't be a vain right if I didn't say it's not only about the event and the experience, it's not only about bringing it to these places, it's about capturing those experiences, both in person and virtually, to scale on social. I think we have this big theory that events can be a huge content generator if done properly, and I think virtual events can as well. I think this allows us to go to the next step, which is also part of the conversations I've been asking people, and I think that you've probably been focusing on, is this idea of immersive commerce. That we're starting to get to a point where we know Roblox is building out a ton of Shopify -like features into what they're doing. We know that Fortnite and Unreal are doing the same thing. We're seeing it in a lot of the blockchain -based virtual worlds. But the idea that you can be buying virtual items and also that your immersive worlds can be storefronts for IRL items, which I think is a really interesting place at Advertising Week last week. I was on a session with Super League, but also with the executive producer of Hamilton, and what she and Maggie were saying was when people come to the show, there are limited -edition t -shirts you can only get when you go to a Hamilton performance, and so people buy those as badges to be there. She's like, we're starting to do those to come into our Roblox experience, the Hamilton experience they have in Roblox. But then we were talking about, oh, but what if you could also only buy a specific shirt by visiting or going through a specific experience in Roblox, but that we send you the actual shirt? And it becomes kind of a more front -end shopping experience in an immersive world. I was just reading about this group 3DM, which is doing a lot of AR, VR. We love 3DM, yes! Yeah, exactly. But the thing that was just really interesting to me was they just did a big raise, and the lead investor on the big raise wasn't like an A16Z, it was Interpublic Group. And I was like, oh, so interesting that it's an ad -holding company that's coming in to help create immersive commerce because that's where the ad companies also see there's going to be an opportunity in the future. Are you guys working at all on the idea of in -world commerce as a scalable technology? I would say we're experimenting with it, and I think we're trying to advise our brands to not be too greedy because you can make some money, but it's very small. It's very, very small, and I think that the earned media potential is actually greater than that if you do it correctly. I've seen a lot of these agencies buy up rights to monetize digitally, this thing that we saw with NFTs, and we've kind of tried to caution away from that too much. I think it's okay for pilots, it's okay for very limited things, but I would way rather have 100 ,000 people claim a free digital item and be wearing it around Roblox than to sell 1 ,000 of them for $100 each just because the math doesn't math on those things. I wonder a little bit about the stock Xs of the world, the Supremes of the world. That's why I said the very limited edition, yes, but if you're just a normal brand t -shirt, why don't we just give those away and then have them be walking billboards? Versus if you're like, great, there's only 100 of these that are super exclusive and awesome and done with this cool designer and unlocked this cool thing. That, I think the premiumization, 100%. I think the mass though, it doesn't make sense for brands to be too greedy yet because it's still a building economy.
Daily Crypto Report
"hints" Discussed on Daily Crypto Report
"BlackRock's Spot Bitcoin ETF has appeared on the depository trust and clearing corporations list with the ticker symbol IBTC. However, it's important to note that the SEC has yet to approve any Spot Bitcoin ETF. The move by BlackRock is seen as significant because it suggests progress towards the ETF's launch as these logistics like ticker assignments often happen before approval is expected. Around 12 Spot Bitcoin ETFs are currently awaiting approval by the SEC, including proposals from Grayscale, Fidelity, and WisdomTree. The SEC recently delayed all pending applications for these funds, prolonging the review process. With Cathie Woods, ARK Invest sold over 42,000 shares of Coinbase and 100,000 shares of Grayscale Bitcoin Trust yesterday with a total value of $5.8 million. The move coincided with a crypto rally, particularly in Bitcoin, which reached over $35K. The sales were made through ARK's next-generation Internet ETF and ARK Fintech Innovation ETF. The surge in Bitcoin's price is partly driven by anticipation of the formerly mentioned BlackRock Spot ETF. ARK Invest has also applied for a similar Bitcoin ETF with the SEC. Bitcoin's price surge caused more than $220 million in short positions to be liquidated in the last 24 hours, resulting in over $400 million in liquidations across the entire crypto market, with short positions taking the biggest hit. This marks the largest liquidation since August 17th. Will Sam Beckman-Friede has proposed financial services expert Joseph Pemberley as the sole expert witness in his ongoing criminal case. Pemberley will provide testimony based on data extracted from FTX's database, including information about Alameda Research's use of its line of credit and the concentration of balances in certain crypto within FTX's accounts. Pemberley's testimony is expected to shed light on financial aspects of the case. Pemberley had been initially rejected as a potential witness, but was later approved after the defense provided more specifics about his testimony. It remains unclear whether SPF himself will testify in his own defense. North America, led by the US and Canada, has taken the lead in crypto usage, accounting for 24.4% of global transactions activity in the past year, according to blockchain intelligence firm Chainalysis. Primary driver of this activity has actually been large institutional investors responsible for over 76% of the transaction volume in the region. North America also still dominates in the global decentralized finance volume, but the overall share of DeFi has been declining over the past year. That's all for us today. Visit us at dailycryptoreport.io and listen to us everywhere else you podcast under Daily Crypto Report. I'm Dr. Rae Wingrant, wildlife ecologist and host of the award-winning podcast Going Wild, produced by Nature on PBS. In the brand new season of Going Wild, we're tackling the big question, how can humans look at our relationship to nature differently? And with the help of special guests like Christian Cooper, host of Nat Geo's Extraordinary Birder, and Ayana Elizabeth Johnson, co-creator of the How to Save a Planet podcast. Follow Going Wild with Dr. Rae Wingrant on your favorite podcast app. Are you looking for a podcast that'll make you laugh? You came to the wrong place. That's not us. That's not us. Well, it is. We are a husband and wife who chat about raw, real relationship topics. Like sex. Like money. Like marriage and kids. But we're not afraid to talk about how your newborn baby probably isn't as cute as you think it is. If you're in need of entertainment while you're driving to work, because that sucks, we can join you in the suckage, kind of like being in your ear. Not physically. So if you want to laugh, come check us out. Brought to you by the Laughing Couple podcast.
Tech Path Crypto
"hints" Discussed on Tech Path Crypto
"CKVM is the product that I'm actually lead of and that's the one that is the genesis of all these products that are coming together within Polygon to create that multi-chain world. We have the layer twos, which is the layer that we are concerned about. We are actually a scaling solution for Ethereum. I mean, to keep things spicy, I'll say that there's going to be kind of a single chain, a single execution environment, and it won't really matter how many settlement environments there are, kind of like it doesn't matter where USDC actually, which bank USDC finally settles in. But what matters is where like all the peer to peer or like merchant to consumer transactions occur. And, you know, within 20 years we are going to see a thousand X improvement in hardware. So we're going to see a thousand X more capacity on a layer one. That's a single chain atomic state machine. Usually things are cheaper and faster, kind of more composable when they're in one place. At Polygon Labs, we believe in definitely a world that is multi-chain and it is where we're heading as Polygon 2.0 will actually come forward. I don't think that the CEOs or the boards of these Fortune 500 companies are going to care about crypto until they see like at least, you know, one to two, maybe five percent of their revenues to be crypto related. Solana working with Visa and Visa, you know, choosing Solana to do like settlement with USDC for cross-border transactions. That's a very powerful disruptive use case. And my hope is that, you know, they actually start seeing their own real revenues impacted by this and then like that kind of opens the door for everything else. Now, I will say this. I mean, that's Anatolia, of course, Solana's lead man. The idea behind what Solana is trying to do is absolutely right. He's hitting it on all the front points. I would agree with that. At the same time, he's very confident, by the way, very confident in his statements here around the success or and or the success of the test that's going to happen with Visa. But this is where it gets interesting, because if they don't achieve this success at the level in which what he even mentioned, to be able to gain notice from major CEOs, Fortune 500 companies, because that's one of the things that I talk with a lot of CEOs out there today. We do a lot of consulting in that area. And that's the number one question they always ask me. Is it big enough to really make an impact? Just like digital sales were for e-comm, all those kind of things. It has to hit that bottom line for crypto to be a force in the next evolution of the Internet. So I would agree with all that. It's all on Solana's back to win it or lose it. And of course, you get into the whole idea of tokenization and how this plays out. We're going to go to another clip here in a minute. But I do want to jump over to this article right here. Circle intervenes, of course, in Binance's SEC case, arguing stablecoins are securities. Again, this gets back into the whole point that we're dealing with getting regulation involved because stablecoin settlement is going to be very, very, very important in being able to make this leap forward. So I know we're getting into kind of the technical side of this, but just think it's very simple in the essence of just think about the Internet without the framework for the Internet to occur. We would have never had mobile. We've never had e-commerce. None of the things you're doing on social would have never occurred. That's exactly where blockchain is right now. And what Anatoly was talking about, along with what Polygon was talking about, they think it's going to be multi-chain where Anatoly thinks it's going to be these super chains possibly that really isolate in on high transactions, all those kind of things. So it's going to be interesting. And of course, stablecoins will be a part of that. And obviously, USDC, one of the biggest ones out there. We'll go to this last clip, which is kind of interesting because it changes the game here a little bit on what Fink, because up to now, I won't spoil it for you, but up to now, he said a certain framework and he's also had a certain theme that he's going into. Let's play this last clip. We're 44 hours away right now from a U.S. government shutdown. They've been unable to come together on that. I mean, they're. Yes. What do you want me to say? I'm not in favor of a shutdown. Are we still in a place where a default is likely? I know the shutdown is separate from that. But if that's the track we're headed on, is a default still possible for the American economy? Let's hope not. Man, you see his face right there. I would almost like to freeze it. He got really serious right before that. Can we step that back a couple of frames? I don't know. But the point is, is his face right there. There. There it is. This guy is like, wait a minute. This is going to be causing a potential problem. And you have to think about 9 trillion in assets going into the market. Liquidity. All the trickling effects into the market economically that this could potentially evolve. Maybe Fink knows something that all of us don't really know. And that is how close are we to really a big devastating blow to the economy of the United States if this shutdown does occur. So this is a lot. I know it's a lot here for you guys to cover. Hopefully this gets your head around what's happening, though. The big narrative of this whole video, hopefully as for you, is to understand the the dominoes that are kind of starting to fall and the connection points that need to happen in crypto blockchain to really make this next leap forward. And when you guys got people like Larry Fink in the game understanding how this works. And he's not really he's not saying blockchain, but he's talking about all of the aspects of how blockchain is going to change finance. You can start to paint a picture real quickly of the projects you need to be looking at. So pay attention out there, guys. This is how it all comes together. It's how you get in early on many of these things. So that'll pretty much wrap this one up. If you guys are not part of our Diamond Circle, make sure and get in. We do another podcast over there. We drop some additional content. You're going to love it. Drop or just hit the link down below. Make sure and hit the like button right now. If you do like these kind of videos, smash the like button on your way out. And if you guys want to catch me, it's out there on Twitter or X at Paul Baron. We'll catch you next time right here on Tech Path.
Tech Path Crypto
"hints" Discussed on Tech Path Crypto
"You've got to be careful here because I think with Fink, he's talking and pitching his own book, obviously BlackRock's going to win big on and when this does occur. In fact, they could be the ones that set the architecture for all this. I'm going to put together a few clips here that kind of lead you into this next layer around government and how it plays into this. But let's go to this first clip right here on undue risk. Listen, do you see people taking undue risk, not applying that lens that you're talking about that concerns you? You can't avoid risk. In fact, those who avoid risk make no returns. Every moment there's some people taking undue risk. Some of them are wildly successful. It's not about risk. It's about does it impinge on the economy? Does it impinge on society? All right, so let's get into his thoughts on how the government is so slow listening. Is that just a regulation issue? There's too much regulation in general. Is that what you're saying? Regulation is fine if it's, can it be more immediate? But why can't we, with new technology, why can't we get the review process in weeks instead of seven years? That's what we need. If we could move the review process down from years to weeks, I promise you hope will be flourishing because we're going to be able to do things faster. All right, so you can kind of see, let's throw the red tape out, you know, let's get out of my way. Government needs to be much more mentalized. All right, so when you look at government and how this is all going to be played, there's a lot of research being, that is underway right now. Here's the Naval Postgraduate School starting to go into this and look at the integration of how blockchain is going to play into this. And also, just in general, some of the effects that it's going to have. Further into this, of the report itself, they were going into the benefits of smart contracts. I'm going to kind of zoom in on this section right here. So smart contracts offer numerous benefits. You kind of, if you're watching our show, you probably know quite a bit about smart contracts. But if you do not, what I would just do right now is go out and do some research on smart contracts, how they work, some of the projects that are very effective with it. But what they're talking about is the autonomy. Smart contracts allow the creation of digital and direct agreements between two parties without an intermediary, meaning without a bank. Trust, that's another major factor that's going to play into this. Backup, safety, speed, savings and accuracy. All of these are benefits of what smart contracts do. And smart contracts will change the financial system. They'll also change business as a whole, because this is, just step back and just think about this. This is the evolution of the next Internet. It's the evolution of how people communicate. But being able to do it in a trustless system, that's what blockchain really brings to the game. So it's going to be a big one. Further into this, you have the USFCR coming in, online registration, saying, hey, wait a minute, we've got a whole idea around how federal contractors could also apply into this. And then when you look at some of the things that they break down, it says, as U.S. government continues to explore possibilities of Web3, next-gen Internet technology, it's turning to smart contracts. OK, good. This provides greater security and transparency and makes it easier to track funds and comply with federal regulations. This is where I think it might break down, and that is, it's easier to track funds. Could you imagine the federal government actually having to be responsible for tracking funds of actually where it went? OK, if anything, that might be a problem. But the point is, it can be done. Blockchain could solve those kinds of problems. And whether or not we get a government that's willing to do that, that's going to be another question, probably for another video for sure. Just as a reminder, Visa, I'll go back to this. We did a whole video on this, by the way. Visa did a deep dive on Solana primarily, but they were looking at blockchain networks in general. And I'll go down here, I'll scan down to all the different chains that they looked at. Primarily what they were looking at is speed, capacity, etc. Simply meaning, hey, if we do decide to use blockchain for payments, what kind of chains could we utilize out there? Usually Solana is right there at the number one slot, you know, approximate time, lightning fast, Avalanche right behind them, Flow, Algorand, Stellar, etc. These were all tested. Solana is the test that's underway. And it's a big test because this is either going to explode Solana or it's going to cause Solana to fall on its face, meaning it's not capable of handling these kinds of scale. So let's go to our next clip because this gets into Solana and our friend's polygon. Listen in.
Tech Path Crypto
"hints" Discussed on Tech Path Crypto
"Exactly. Yeah. All right. So this is why stablecoin legislation is so important to help drive the future of tokenized assets in general. If you look at tokenized treasuries, here's a good example of just how big this market is. You can kind of see the growth right here all the way back from just January 2023 and where we're going. And again, a lot of these major companies and, you know, institutional finance involved in it. And here's a breakdown of a lot of the blockchains that are, of course, out there. There's Stellar, Ethereum all over the place, Polygon. And then even Solana is also in here, even though they're not listed. But this is a good example of just continued growth. Further into this, you'll see private credit on DeFi rail starting to explode as well. So you see active loans, total value loans, etc. But look at this explosion. Now, granted, some of this will start to moderate just because of what we've seen within the market pressures of interest rates, inflation, all those kind of things. But again, it gets back to this whole theory, this whole concept of tokenizing assets and really tokenizing securities, all the things that eventually traditional finance will be able to accomplish with blockchain. So a lot in the wings here. Here's Ripple releasing this coincidentally at the same time as this interview with Larry Fink and explaining, hey, they've got a solution for this. So listen in to this next clip right here. It'll start to make sense. Integrating digital asset solutions is complex. It often requires cumbersome integrations, has high costs and involves engaging with fragmented, slow and costly fiat payout landscape. At Ripple, we built Liquidity Hub to seamlessly bridge the new world of digital assets with the traditional world of fiat. The experience is plug and play. Liquidity Hub powers interoperability between crypto and fiat systems, bridging digital assets seamlessly. Partner with Ripple. All right, so let's go back over to the clips from Larry Fink talking about the risk levels involved. Listen in. Are there risks in that? Could there be risks? I'm not trying to suggest they're not risks. Is there a new risk when you have these big pools of money in capital markets? Unquestionably. The transmission is going to be very quick, quicker than the banking system because the banks have other businesses. And if somebody in the private market is just providing a loan and there's no other interconnection, then they're going to have to do the right thing on behalf of their owners of capital. As a fiduciary, they're going to have to call a loan. They're going to have to repossess property or whatever that may be. I'm not saying that's a risk at all. What I'm trying to say, we need to talk about what are the dynamics, what are the changes are when there is a real ecosystem change. And so right now, I don't see any risk. In fact, I think the Federal Reserve came out with a position paper saying there's actually less risk because there's less leverage in this system by doing that.
Tech Path Crypto
"hints" Discussed on Tech Path Crypto
"All right, so let's drill down into Larry Fink's brain today. We're going to do this. He did a big interview at a Bloomberg event, and it breaks down a lot of not only his ideas of where the markets is going, but also some of the technologies within crypto that are going to affect all of this. I'll break it down for you guys today. My name is Paul Bearer. Welcome back into Tech Path. All right, let's get into our first clip. And this first clip is breaking down interest rates over the next few years, what it looks like from the man himself. Larry Fink, listen it. You have Jamie Dimon, for example, saying rates in the U.S. could go to 7%, and we're not ready for it. Is he right? Look, we all have opinions. I mean, I've been saying for over a year- I want to know your opinion. My opinion is we're going to have 10-year rates at least at 5% or higher. All right, so you heard it, higher, longer 10-year rates holding on to that, but yet still very optimistic in terms of the overall position, so a little bit more hopeful. Rick Ryder, who is one of the key investment guys there at BlackRock, who manages like almost $3 trillion in assets, he also came in on this clip. Listen in to what he had to say. So I think there's a couple of things that are going to happen. I think when the Fed starts, and I think they'll start cutting rates in the second half of the year. I don't think they're in any rush that they need to do it. Second half of this year? Second half next year. Okay. Just wanted to make sure. Thank you for that clarification. I would have been buying stocks. Yeah, yeah, yeah. All right, so he's looking toward the third quarter next year. We talked about that before, is that that most likely will be the case with this higher for longer approach that goes into this. Now, the key here is, is what is causing this? Now, what are we seeing this in terms of the market disarray, the pushback, the consumer spending that's been holding inflation high? They get into it a little bit here around wages being too high. Listen in. The whole idea about restricting immigration. And in the United States, we've had close to a trillion dollars of fiscal stimulus just beginning its J curve. These are huge job creators and at the same time we have restricted immigration and as a result of it, you know, we see more wage pressure. So at what cost? We have in the United States, a very protracted strike between the auto workers and the auto companies. It has been reported that the union is asking for a 40% increase. So at what cost? What do you do with a problem like that? Right now, I think in our mega trends, right now we are under invested in China. Under invested in China. That's interesting. OK, so a couple of points here to make and also to kind of references the framework of why these strikes are occurring, especially with the United Auto Workers strike. You look at it and it really boils down to corporate greed. I mean, at the essence, you've got all these car companies who have been feasting on American consumers for quite some time, for the last couple of years. Here's Stellantis as an example all the way back to 2016 when they were kind of flat and then right there 2018 blows up. Obviously, we saw the impact on the markets and then just this continued climb of Stellantis stock price. Now, part of that has been just because obviously car sales have continued. So his point of that wages are too high, that this is causing a lot of disarray within the market, there's an alternative to that as well. Let's go to this next clip, because Biden, actually, it's an article here, Biden actually responded to a little bit of this issue around the UAW. Remember, he's very pro-union, but his statement was he asked if he supported the 40 percent increase on the union and asked for it. He said, hey, listen, it's it's really more of a bargaining chip, really, than anything. And I would agree, you know, because it's kind of you ask for the highest amount you can and then you settle in with where it may end up. And I think that's what Stellantis is going to end up doing here as we go further. Remember, the key here with think is if you are very pro and I'm pro capitalist guys, don't get me wrong, but if you're a super capitalist, meaning you are absolutely just wanting to run amok within corporate greed, then you do want a lot of immigrants coming into the country and you want these kinds of mainly from just an optics standpoint, because it does start to put pressure on American workers. And I think that's the thing that everybody is looking at is how do we keep job wages low? And when I say everyone, meaning these capitalists that are really pushing at this. So this gets into some pretty big issues right here, even though he's asking for more immigration. I want to play this next clip to show you just kind of where immigration currently is. Let's listen in. In just one week, they came by the thousands, group after group after group of migrants streaming into Eagle Pass, Texas, prompting the border town to declare a state of emergency and straining the nation's immigration system. Again, the Border Patrol encountered a record two point two million people crossing the border illegally. The numbers went down a bit in the fiscal year ending this month, but are still high. Anybody that thinks this is a secure border is delusional. And this is something you see every day. All right. So as you can see there, does it look like we're restricting immigration at all? I think his point is really, really more toward the whole idea of, you know, higher wages being pressured, getting into that side of it. All right. So let's get into this next clip that talks about the recession and whether or not it's going to be bad, good, all that good stuff. Listen to what he had to say. Does that mean we are headed for a recession right now? I think we're going to see some economies enter recessions early. Which ones would that be? Well, I think Europe is more sensitive to the ones that are more sensitive to this elevated interest rates. Whatever the recessions we're going to have, they're going to be quite modest. So I'm not even that fearful. In many areas, you may need a recession to bring down labor demand. All right, so again, back to the point he's talking about, that's profitability and a lot of companies, once you bring down labor demand, that's one of the biggest issues there. He also gets into the point of what could be the catalyst to cause longer, a longer recession play into this. Here's what he had to say. So throughout history of U.S. growth slowdowns, we have underestimated every single one of them. Are you confident we're not making that same mistake again? If fear becomes worse, then consumers pull back and the recessions are going to become more protracted. We have elections in so many places in the world. We are going to have many political candidates who are going to provide a lot of fear. I think the political winner is the one who provides the most hope for the future or what people believe with the hope of the future. Do you see that, though? Do you see anyone projecting hope? I dearly hope so. I'm projecting hope. Larry for president? I don't know. No, I'm too young. I love that. All right, so I want to get into an area around reimagining bank lending, and this is where it starts to get into crypto or at least the underlying efforts of what he's thinking about crypto, because this is going to be kind of that format of how crypto will start to integrate into the banking system. Let's know what he had to say. We need to reimagine finance because of Dodd-Frank in the United States. Banks can't lend. And more of that, you know, the world doesn't want to get to the developing countries. They lend well, but clearly. All right, so obviously that's where, you know, stablecoins, DeFi, this starts to solve all those problems that we're going to be looking at around tokenized assets. I want to go to a clip here from Bankless asking really what's holding this back. Listen in to what they had to say in this interview. What you're buying today when you buy a stablecoin on the back end, it's cash and cash equivalents. That's an accounting term to say treasuries, repos and some cash in banks. The thing that is not like flowing through is the yield component. So you're getting a zero percent yield on your stablecoins today. So I started looking at someone has to have built something that solves this problem and no one had. The big challenge here is how do you bridge these two worlds, giving clarity on the real world asset side? So someone has to hold a treasury, a treasury bill, and that person was buying those treasury bills. At small scale, you can buy, but if you're starting to buy anything at meaningful scale, you have to show where the money came from and that where the money came from, the compliance AMLKYC component was hard to do. So we said, OK, if we want to offer this, you have to be regulated to do this at scale. And that is the biggest challenge that everyone in this industry faces is how do you answer that regulatory or legal structure in question? It sounds like what you're trying to build is the largest pipe possible between the government, United States government, risk free rate and DeFi. And right now you're saying that this pipe is actually constrained by our current stablecoin paradigm, the current meta of stablecoins, because you go through it vanilla dollars first when really you can just go more, let's get right to the punchline of this whole thing, which is like, let's take the yield of the risk free rate and get it into DeFi.
Tech Path Crypto
"hints" Discussed on Tech Path Crypto
"All right, so still, what surprises me is that we continue to see these wins in court cases, meaning judges that understand the rule of law, they understand the current case law that's in place right now. And yet at the same time, we have all these federal agencies, government agencies that continue to push from a litigation standpoint to essentially try to out, you know, out maneuver many of these companies. The advantage, I think some of these, you know, there's a few marked companies out there right now, like Coinbase, Ripple, now Custodia, that will be in a position right now that could be setting the tone, because in many cases, there's a lot of companies that would never be able to go to this level in terms of fighting some of these government agencies as a whole. Let's get into the next clip, which goes into just the consequences around Custodia with the SEC. I thought that the Biden administration was nuts to have some of these cases in the federal court system because they're opening up long standing gray areas about the jurisdiction of federal agencies, for example, the Howey test in the SEC. Right. That's been law for decades. And now it's it's it might be reopened by the federal courts and the SEC might not get the answer that it wants. OK, and so the crypto freak out that it had was so extreme that it went to this length where it's now across multiple federal agencies in multiple federal court districts facing what I would call bet the farm type litigation that if the agencies lose, their jurisdiction is changed permanently. Federal agencies don't like to be sued because they benefit from the gray area and they constantly, frankly, have been expanding their jurisdiction and nobody's really pushed back. That was a construct of the Supreme Court. That wasn't a construct of Congress. And so, you know, if what the court gave, the court might take back. All right, so Caitlin mentioned a few key things there, and one of the things I think is the overreach that the SEC has really pushed into the blockchain industry and they've it's kind of, you know, a cornered animal. You just there's no choice but to fight as opposed to a strategy that might have worked would have been that slow, you know, dredge of small litigations, let things live, small litigate, you know, that to the point where they just win in the end. But this extreme radical behavior that they've had over the last really three years has accelerated everything up to now, what we're seeing in terms of even Supreme Court cases starting to roll out now, potentially threatening their own current position in terms of governance and how and what they may not have any longer is this overreach. Part of this will get, I think, blown out into Congress because Congress, at the end of the day, is really the ones who set the laws and they don't necessarily like these agencies going out interpreting these laws differently. So I think that's the other factor that plays into this. Now, Gensler is going to go in front of Congress again on Wednesday, September 27. This is the two dates we already went through the first one, the 12th. That was kind of a nothing burger. But he does go in front of the financial committee on Wednesday, September 27. So make sure and check that out. It is on. It's going to be at 10 a.m. We kind of zoom in on that on the hearing entitled Oversight of Securities and Exchange Commission. This is where he's going to be asking for funds. It's possibly where Congress might look and say, hey, we need to come back or we need a look at how we even approach scenarios with the SEC as a whole. Another thing that's happening out there is Coinbase is getting ready to get involved very quickly with a potential Biden administration terrible for crypto and pledges a million dollar donation to a super PAC. So this will be interesting because now we're going right into an election year. Coinbase is not interested in the Biden administration, but they're interested in being able to support others. And I think that's the whole idea behind government. And of course, these super PACs do work in many cases. I'm not necessarily a big fan of those, but the point that they have been pushed into this says a lot about the state of crypto in the United States. Very intriguing as to how this might play out. So don't forget to go over to the stand with crypto. And Coinbase is not, by the way, they're not an advertiser. We just do this as pretty much a public service announcement to the industry. Go over and click on that. Get started. Call your congressman. Go stand with crypto dot org. Call your congressman. All you have to do is put your city in your zip code in there. And if you continue, it's going to give you the person that is involved in your congressional district. You can even call the number. You need to use Skype or just dial it up and then use this script right here. We've done this. And, you know, we've actually called our congressman and we've had some interesting conversations with them. So I think it is helping just really, you know, focus in on the impact it might have on you, your family, your business, whatever it might be, that this kind of scenario plays in front of the U.S. Congress. And remember, this is the FIT21 Act right now that is getting ready to go to vote here in October. So just make yourself a little bit aware of what's happening and then make these phone calls. They help. And we're getting a lot. I know we're getting a lot of people that are using this website right now, and we appreciate all you guys help. But we're trying to get to thousands, thousands of people, tens of thousands, if we could, to be able to call your congressman and get out there. All right. If you guys are not part of the Diamond Circle, that's another place you can come in, join in to our own group. And we keep you up to date on all these things when we don't do it here on YouTube. We do an additional podcast over there, more research, even some stuff from me that is not done here on YouTube. So make sure and check it out. If you guys want to reach me, it's out there on X at Paul Baron. We'll catch you next time right here on Tech Path.
Tech Path Crypto
"hints" Discussed on Tech Path Crypto
"OK. So our proposal at Custodia to the Fed was to hold a dollar eight cents for every dollar of demand deposits, U.S. dollar demand deposits at the Fed itself. That's revolutionary. Right. Right. But just to give you an illustration of how different that is. Silvergate was holding 10 cents of cash for every dollar of deposits. Big difference. Oh my God. You can never have a bank run because it's there. Well, you could have a bank run, but the point is the bank survives it and cashes all the customers out. Yeah, you're right. All right. There's a bank that has tried to get a charter and they've really been met with a very significant pushback by the Fed and it changes the dynamic of how banks fractional reserve works. If you are aware of fractional reserve banking, basically think of it like this, a bank takes in $10 and they can loan out $100 on that $10 deposit. That's the difference between a true mark to market style that what Custodia is trying to propose, which is as Kristin or as she said there, Caitlin said, is that it would be $1.08 for every dollar that's deposited. Again, now these are banks that will most likely have significant fees, but I think people are ready for those because of the security that does offer. The problem is, is that they can't get approved through the charter system. All right. So I just want to jump. U.S. court rejected Fed's motion to dismiss the Custodia bank case. This happened back in June. So this is a good position, I think, overall for Custodia Bank as a whole. Let's go to our next clip and why this bank matters in the whole scheme of things. Listen in. If you take the Ripple case or you take the Coinbase case, you're talking about the underlying asset and you're talking about token issuers and whatnot. But when we're talking about your fight, you're talking about users, developers, companies that need access, you know, to be able to pay their employees a U.S. dollar. The Custodia case is about something much more foundational to your point, which is can a business even survive if it doesn't have U.S. dollar access? A lot of the startups in the industry might be looking at the SEC for clues as to whether their project is going to be deemed a security or not, but they won't even get off the ground if they can't get a bank account. The first risk isn't banning crypto. It's closing off the on-off ramps as the risk. A hundred percent. So this has been ongoing, really, the Choke Point 2.0 that we've talked about. If you haven't heard about that, go research it, go out on the web, just research Choke Point 2.0. The idea behind this is to basically shut off all the on-ramps for any kind of startup and innovation when it comes to U.S. dollar access is what they're talking about. And these are startups in the blockchain industry. So this means gaming companies and FTE projects, anybody that is all in on blockchain and how they might take in funds and or operate as a business entity, because this is where they have no banking option right now, with all these banks starting to shut down and shutter their operations around blockchain. Let's go to our next clip, which is going to get into the, well, actually, let's go to the first clip here. This is more around the current status of the case. Listen in. And the judge came back for the decision. And here's what has survived and alleges that the Board of Governors agency's action in denying custodial's master account was arbitrary, capricious and abusive discretion, or otherwise not in accordance with the law. And we've all heard this arbitrary and capricious language that came down, obviously, in the Grayscale case. But that's the one that claim survived, am I right? Discovery in the case runs through mid-December. And there is a trial date scheduled for April.
Tech Path Crypto
"hints" Discussed on Tech Path Crypto
"Today, we have the SEC going directly against the U.S. court system, and I think it's going to be a good one for you guys. We'll break this down for you. There's a lot happening with Garrett Gensler, how they are strategizing against potentially some of the rulings already by the U.S. courts. You don't want to miss it. My name is Paul Baron. Welcome back into Tech Path. All right, let's get into it today. Before we start, I want to thank our sponsor, and that is Tangem. If you guys are looking at a secure way to do your own self-custody, one of the things you can do is get into these card wallets. Now, a card wallet is like a physical wallet. It in itself works in tandem with your software on the phone, and it does a great job in terms of your overall security and protecting your digital assets. If you like self-custody, this is one of the tools you can use. Just go over, go to tangem.com, click Get Tangem. You've got a couple of options here. They've got a brand new wallet coming out that will give you optional seed phrase capability, all of that happening in October. So jump in, use our discount code. It's going to give you some additional discounts. Make sure and get the three-pack, too, because it's a better deal. So use the discount code, click the link down below, and start your journey on self-custody. Let's get into the first thing. I want to go to the clip that explains Gensler's strategy here about the current status of our courts and their decisions so far and what he might do with that. Listen in. When you take collectively recent court decisions we have seen, how have they made you, Gary Gensler, think differently about regulating this space? I'll tell you. I think the same thing. It's about ensuring for compliance and protecting the investing public. And this is a field, it kind of reminds me a bit of the 1920s, where a lot of people were getting hurt. The securities laws apply to crypto security tokens, and there's nothing incompatible with those tokens, with the securities laws, and we've just seen so many people hurt and lost their money, and there's so many hucksters and fraudsters in this field. All right, so most of this has been, as you guys know, if you've followed our channel for very long, you understand where the problems had lied. Most of it is because of the lack of clarity, the lack of real legislative direction, and I think that's been the case. Gensler's position has pretty much been unchanged. He truly believes that all tokens are essentially securities and that they are the savior against protecting individuals' rights and hopefully their finances. The only problem is that we see just as much fraud and problems within the traditional finance markets as we do in any other markets that are speculative. So I think this is still Gensler's missed shot of really understanding what the future of innovation really means for crypto and blockchain. Let's go to another clip here. This is where maybe could the courts convince him because the rulings have been coming out pretty sequential here in and against, in favor of the blockchain industry and against the SEC. Listen to what he had to say. And so nothing any court would say would change your mind on that? I wish something a court could say which would actually bring the compliance sooner. Having said that, there are a lot of folks in this field that are trying to say, well, those don't apply to us. And I suspect you've interviewed one or two of them, too. You'd be right about that. First thing I want to say here is Gensler's selection of words. His pauses are getting further and further apart. Why is that? I mean, he seems to be so intrepid in the past. And now all of a sudden he's taken this role of just a very, very strategic way of answering questions. And I think it's an interesting concept, especially because of the fact that he's had what handed to him over the past few months in terms of court rulings by judges who are essentially following the law. And this is where I think it starts to rub with a lot of people about Gensler's kind of frivolous attempt at, hey, I don't really care what the courts have to say. They just need to give us the ability to litigate and execute our plan over the SEC or over these financial markets, including the crypto markets in general. Stuart Alderadi kind of jumped in on this on Twitter. Stuart Alderadi obviously coming in from the Ripple case, fresh off a fairly good win. But what's most concerning to me, let me zoom in on that, and should be to you in the full video clip, is shocking admission of an unelected bureaucrat that he won't respect the decisions of the court. This is the problem that the overreach of the SEC continues to dive into. But more important, I think it's more importantly around Gensler himself. Because there's enough dissent in the SEC, especially in most of these rulings here recently, that it does pose a very interesting position right now. Here's John Deaton coming in with it. Just watch the reaction of the question posed. Any court includes the Supreme Court, the Supreme Court of Law of the Land. These people are so inherently arrogant that they think they are above the law. Let me introduce you, everyone, to the real-life example of a megalomaniac right there. And I would agree. I think this interview alone started to really showcase how Gensler thinks about these things. And he's strategically lining up. I'm wondering if there is something big that Gensler- because remember, if you watched one of our other clips when we did the government shutdown video, part of that was in a clip here and there was a lot of nervousness around these government shutdowns. I don't know. Is there something brewing down there with the SEC? I want to go to this next clip because this is where Gensler is going directly against a decision that's already been made around ETFs, listening to what he had to say. I'm not going to ask you to comment specifically on what's next in the Grayscale case, but in part of that ruling it was about the distinction between futures and spot and it not being clear that really fundamentally they were differently in terms of the fraud and manipulation you often talk about. My question to you is, is there a world given those concerns you have about fraud and manipulation that the SEC could actually revoke approval of a Bitcoin futures ETF? We take into consideration any time a court rules and we consider it and think it through and deal with filings that are in front of us. And we have a number of open filings in the Bitcoin exchange traded product space. For spot products, sure, but could you rule out revoking the futures product? Again, I'm just not going to speak to the filings and you are absolutely right. There are a number of Bitcoin futures exchange traded funds and they've been live since about two years. All right. So there was some body language in there in that interview. Part of this was the smirk that Gensler has on his face when that question was asked. This concerns me because it does and has the ability to impact the markets in pretty much a catastrophic way. Traditional traders would see this as a very bad move by the SEC because this could put a lot of futures ETFs at risk. And I think for just him to even entertain that, as opposed to an unequivocal no, we would not do that, we've already put markets in motion, is very telling about the strategy and his grab of power that the SEC has continued to go after. So it's a very interesting situation right now brewing within the SEC. There is something up, there is something up with Gensler and his strategy in terms of these market conditions. I want to go to another clip here on Custodia Bank because this kind of starts to play into this because there are some other scenarios playing out with Custodia Bank and the Fed. I'll explain this in a couple of clips so you guys can catch up. You probably are not completely aware of it. Let me go to this first clip that kind of gives you an overview on Custodia.
The Bitboy Crypto Podcast
"hints" Discussed on The Bitboy Crypto Podcast
"It may or may not happen. I think it's going to happen though. So this was my public declaration that I want to work with them. That was the public declaration. Cathie Woods, ARK Invest joins Ethereum Futures ETF race. Ever spot Bitcoin ETF delay. ARK joins the thi- Now, guys, will this, will we see a Bitcoin ETF approved near the beginning of 2024 as we start setting up for the halving? Maybe around the time of the halving. And then will the Ethereum ETFs, will these be the next narrative after that spot ETF is finally approved for Bitcoin? Definitely something to think about. So Cathie Wood getting all involved. We already knew that was going to happen. Pepe Plummetz, now, this is Smash or Pass here. Pepe Plummetz, 17% as team transfers millions to exchanges. Guys, this meme coin was never going to change the world. Okay, guys? Will Pepe be the next big meme coin like Doge and Shiba that will pump in the bull market? Or will it, is it a bear market narrative? I mean, I think that's a great question. I think you look at what Doge is doing. Well, Dogecoin itself is doing nothing. But when you look at what Elon Musk is doing with X to potentially integrate Doge into the platform, which I do believe is going to happen, guys. I do believe he is going to integrate it. I don't even think there's really a question about it. And in my mind, he may surprise us all. He likes to do that. Excuse me. But when you look at Shiba, look what Shiba is doing. Shiba has actually built a blockchain now. It's amazing. They're actually running things on that blockchain. Will it be successful? I don't know. But, guys, you now have like a meme coin blockchain. And they're embracing the meme coin. They're embracing the launchpads. But they're also embracing building. And that's pretty freaking cool. Where the Dogecoin builders are gone. They disappeared. The founders are gone. People are still involved hot and heavy with the development of Shiba. Now, Dogecoin is its own blockchain. It's a fork of Litecoin, right? I think I'm trying to remember how all this went. I get confused on all of it sometimes. But, yeah, Dogecoin is not an ERC-20. Dogecoin is its own chain like Litecoin or like Bitcoin. So, Dogecoin, it was just renounced at some point. I don't know if there's new development going on. Like, I think there are developers that still do some stuff with Dogecoin, but it is what it's going to be now. Shiba is becoming what it's going to be. Pepe, is this all that it is? Is it just a meme coin? Because if so, shoot, it certainly makes sense. It makes sense for some of the big founders or people that were the early whales to get out. If it's not going to do anything and provide any value, it's always going to go to zero if there's no value provided underneath it. And that's what the Shiba people learn. And I was really hard on the Shiba people about this. Like, it does nothing. There's no value. I was really hard on them for that. And people know I've been very against Shiba. But now that they've actually done what they said they were going to do, they've built something. Okay, now, let's see. Missouri, show me state. Show me. And so far, it hasn't been great. Launch hasn't been great. But that's okay. Like, we'll have to see a year or two years down the road. What happens with that network? Could Shiba become a network that people choose? Like Ethereum or Cardano? It makes sense that the meme coin people would jump over there, which is a big portion of crypto. I consider them not to even really be in crypto. I consider them to be something different. So SmasherPass on, you know, SmasherPass on Pepe. Look, early on, it was definitely a smash. And definitely smashed Pepe. Loved it. Made a lot of money early on with it. But now, I gotta say, I gotta pass on it. I gotta pass on Pepe going forward. And I think a lot of the belief in Pepe was built around the idea that meme coins were going to continue running and that, you know, there was a spot open for just a large meme coin, a large cap meme coin that does nothing. And I just don't know if that's true anymore. I don't know if there's going to be space for that going forward. It's a casino. The meme coin game is a giant crypto casino. And there are people who are going to want to take part of that and people who are not going to want to take part of that. But what people will realize is, I mean, I guess all of crypto is a bet in some ways. And this is what I've always been telling the meme coin people. Why would you not bet on something that's going to have sustained value over the long term? Over something that's guaranteed to go to zero when hype dies? That's what Pepe is. That's what every meme coin is. When we took over a pinpoint, it was so important for us to move it away from a meme coin. And that's why we're doing the V2 smart contract. Gotta have utility. If not, it doesn't do anything. So definitely, in my opinion, it is a pass on Pepe. Here's a look at the chart.
The Bitboy Crypto Podcast
"hints" Discussed on The Bitboy Crypto Podcast
"Okay. So there you go. Next story. What is this? Why is there a Bitcoin casino here? Oh, because that was an ad. Okay. There we go. Moving on. There is no Bitcoin casino. There is only stake. Ethereum ETH mobile phone pre-order campaign goes live. Now, this is interesting, guys. A special Ethereum native version of the popular mobile phone, Google Pixel 7A, can make the largest can make yeah, the largest thank you, guys. Thank you. Smart contracts platform ever more decentralized, transparent and censorship resistant. Ethereum votes pre-order campaign up and running. So, guys, it's all been a lot of the dots have been connecting for me lately on where all this is going, right? When people first started making these dApps and building on Ethereum, you know, the whole thing was, what even are these? Where are they going to go? There's no network for them, right? Well, we're starting to understand, I think, that Ethereum is the network, and Cardano is going to be a competing network. You have to look at these in terms of before it was only Apple versus only Google, right? It was only Apple versus only Android, right? That's where we're at. There are some other players in the game, but nobody cares about those. It's Apple, Samsung, Apple, Android, right? Before that, we used to have more choices. Your cell phone company kind of your cell phone company were the ones that chose what games you could play or download, right? It was a cell phone company in combination with the phone. It wasn't the network of like the Apple store or the Android store. And so what we're going to see in the future is a more decentralized version to where you just have more choices, but we don't need 100 choices. So I tell you guys, we only need 4, 5, maybe 10 choices at the most, but only 3 or 4 of those are going to rise up and be the choices that people want. Some will be, look, some cricket wireless, right? You got some of these companies floating around in the phone game, but ultimately, you just don't have a lot of choices out there. We're going to get more choices. What you're going to see is people are going to tend to want the same things. So while there's a lot more choices, some of these networks will still rise up and be kind of the next Apple or the next Android, and Ethereum is one of those. I believe Cardano is one of those. Solana, not going to be one of those in my opinion. You know, Cosmos, I don't know. Cosmos got great tech. I don't know if it's going to be one of these. HBAR, I think HBAR is going to be one. ICP, it's going to be. ICP offers something unique that these other networks don't offer. And that's what you're going to have to see. You're going to have to see these projects come with things that are unique to really be able to compete. And so this Ethereum operating system being put on top of, you know, this phone, this is the future, guys. This is where things are heading to. You know, blockchain phones are going to run blockchain networks. And that is what is going to happen. So super excited to see this campaign up and running. We have some cool stuff. I've been talking with a guy from World Mobile. We've got some cool stuff coming from Bencoin, which, let's see, do we have a? We don't have a Bencoin update on here. And this is what I would say is that I was simpler swapped. There was a big hack that occurred on my Twitter. And World Mobile has kind of got something cool that they want to share with the Bencoin network to kind of prevent stuff like that from happening. So it's not official. We haven't officially made a partnership between us and World Mobile. But I do say I'm going to meet with the guy later today or tomorrow, and it looks very, very promising. It looks very promising. Some cool stuff coming to your cell phones with Bencoin is what I'll say.
The Bitboy Crypto Podcast
"hints" Discussed on The Bitboy Crypto Podcast
"Crypto custody in Prime Trust is admitted to losing $8 million in corporate funds through the collapse of Terra. In June, Prime Trust went into receivership after losing access to a wallet owned by a third-party account. Financial, the Nevada Financial Institutions Division also accused the company of using customer funds to buy crypto companies. That's what they were doing, guys. They were making all these great investments, and it was all your money. They were double, triple, quadruple investing your money. And really, even in the United States, we didn't really use FTX nearly as much as they did around the world. So for that, you know, from that perspective, okay, people around the world were losing maybe it wasn't your money, but your money may have been in BlockFi. Your money may have been in FTX US. That leads to connections. Alright. Um, let's see here. Speaking of FTX, moving on here. Embattled, crypto exchange FTX hires billionaire Mike Novogratz's Galaxy Digital to manage recovered crypto. Very interesting story here. Troll Crypto Exchange FTX is hiring prominent crypto asset management firm to handle its recovered assets. New core filing of Bankroll Crypto Exchange is seeing authorization through billionaire Mike Novogratz's Galaxy Digital to take over the management of its recovered virtual currencies as part of the restructuring process. Let's see here. And I think, you know, is Galaxy Digital a company you can trust? Well, it's a company you trust more than FTX for sure. It's going to look out for its best interest, but part of Galaxy Digital's best interest is keeping people interested and involved in crypto. That's how they make their money. So from a big picture perspective, hopefully they see it and they get it. In the micro though, could we see some bad things for holders of FTX? Great question. I never held any money on FTX. You guys know. And all that's going to come out, of course. It's all true and accurate information here pretty soon. You got to know what I mean. Probably a month or two down the road. But FTX recovered $7 billion worth of crypto assets. And the game for FTX was always waited out. It was always waited out. Let's hope Bitcoin goes back up. And when Bitcoin goes back up, we'll be able to solve everything. I think Sam Benjamin Fried thought he was still going to be in control at that time, and he's no longer in control. CZ breaks silence here. Refutes Binance's Bitcoin dummy allegations to safeguard BNB. And we've been talking about this story for several days. And we've been telling you, I believe there was no merits to it. And this was just allegations and rumors by the same people that want to see Binance fail. They want to see a good actor fail. They're trying to put pressure to make it happen. And it just doesn't play out. And CZ always comes in eventually and tells you what the real deal is. So let's see what he said here. There was mounting speculation that CZ was causing a Bitcoin sell-off. He took to Twitter to respond, reposing a thread by a user named zkhopia. Of course, we've told you this the whole time. The thread by zkhopia sheds light on the events surrounding Binance Coin's liquidation. Oops. Excuse me. Let's see where we are. It explains the exploit occurred, the liquidation on BS protocol. It explains the exploit occurred on October 6, 2022. On the Binance Smart Chain, it created 2 million BNB. Of this amount, 900,000 BNB were deposited on BS protocol to borrow approximately $150 million worth of USDT and USDC. In response, BNB chain burned 2 million BNB. Let's see. Addressing the allegations. CZ expresses appreciation for the detailed research presented by zkhopia and emphasized the insignificance of a $30 million liquidation impact on Bitcoin's price. CZ stated that Binance does not issue BTC and the most rewards are given to BNB. He highlighted that the alleged fear of a significant Bitcoin price impact is unfounded as $30 million represents less than 0.001% of Bitcoin's daily trading volume. And I think that, you know, this is so interesting. Because when you think about this, this is a lot of the narrative for this big MAC, this big altcoin bleed, this big dump that's coming for Bitcoin. Like, Bitcoin's going to dump, altcoins are going to bleed out five times worse. And a lot of this is based on what's like, where are we going to see a major liquidation event? And CZ's telling you, yeah, $30 million is not a major liquidation event. I mean, look at when we look, sometimes there's hundreds of millions of liquidations in a day, and that can be impactful. $30 million liquidation, maybe not that bad. So he is saying here, I think, he's saying that they did get liquidated. I'm trying to read between the lines here. It looks like they may have gotten liquidated on that position, but they were not selling off in order to prop it up because they just didn't care. It was a $30 million, you know, $30 million to them is not that much, guys. Not that much at all. $30 million for Binance. I know that's hard for people to understand, but I see it, you know, I see it in my own life and my own financial change I've gone through in the last few years. Like, you know, things that people would think are absolutely ridiculous. Like, I was going to trip next weekend. We were going to go take my kids' family trip. We're going to take my kids to New York City. We're going to do some baseball games. We were going to take my daughter to the US Open. And in the end, like, it just was my son ended up having a tournament on Sunday. Next week, a baseball tournament. We can't go. So, what that means is that all this money we paid for all these tickets, now, the hotels and stuff can be rebooked or refunds, but to get the money back on the tickets, it's probably like $3,000 total. Like, we would have to go and relist them on a third-party side. For $3,000, I'd just rather burn it than go through all that because it's just they're probably not going to sell anyways. Maybe we'll make a fraction of the money back. And it is what it is. Like, it's a burn. Like, I just burn it, and it sucks. And people are like, $3,000 is a lot of money. I get it. I know. But it's not worth the effort to me for that. And I think this is what CZ is saying here is it wasn't worth the effort for $30 million. There's a much higher amount than yes, maybe. But all the people that are telling you that Bitcoin is going to crash and dump and all coins are going to bleed, they're the same people selling these lies to you about Binance being insolvent and, you know, Binance is really the one causing all the problems. It almost seems like they're redirecting the FUD, and they're trying to make people scared for possibly a short squeeze that could be coming.
The Bitboy Crypto Podcast
"hints" Discussed on The Bitboy Crypto Podcast
"And, guys, this is one of these moments where you get BitBoy charts today. And I know you guys love BitBoy charts because this is where you get the TradingView alpha, the expertise of someone that has been around in crypto for 11 years and still doesn't really understand how to use TradingView. That's me. Okay, guys, so looking at Bitcoin here, we've got Market Cipher B turned on. Let's see. Can we get Market Cipher A turned on? Make sure we have our candles. We are in Heikin-Ashi's. Oops, oops, oops, oops, oops, cancel. Okay. Indicators. My scripts. See, I'm in Johnny's account right now, so I cannot pull up Market Cipher A. Okay, so taking a look here at what's going on. And I think this is not actually Market Cipher. Johnny. Johnny, you're cheating on Market Cipher. You're cheating, bud. It's okay. We love Johnny. Definitely can't log into my account. I need that. So, okay, so we're on the day chart here for Bitcoin. And you do know here, we've already talked about out at the bottom of the screen, which you guys can't see right now. Let me see if I can raise that a little bit. There we go. You guys can see how we do have over here. We do have the big green dot on the daily. And, you know, in general, this usually means we're going to see something good happen. Was it neutralized? Has it already been neutralized? And we're going to have to wait on another trigger wave, on another, you know, slight downward action to be able to get what we're looking for. We go here, we look at the 4-hour chart. 4-hour chart looking kind of bearish. The 4-hour chart is looking a little bearish here. It's not to the bounce point yet. So, right now, with Bitcoin seeing at about $26,000, we know it can go down to $25.2K. Test that. I believe it probably is going to go back down and retest that $25.2K. I think that is going to happen. I've got an order set up down there. Let's see. What was the lowest it's got to? Well, I got to move this. I'm on a PC today, guys. I'm not on a Mac because my things are really sketchy. So, this is the 4-hour chart. It went down to $25,350 a couple days ago. Right now, it hasn't gone much, you know, since then, it hasn't gone below $25,748. That's the lowest it's been. So, will we see it drop again and challenge, you know, this line basically right here? That's $25,000. I think it basically is going to go back down there and pop back up. That's what I'm expecting. A lot of people are expecting to go down there and challenge that and go down. And this is where you got to do your own research and where you have to know what you believe to go to make smart financial decisions for yourself because people can look at the same charts and feel differently. I look at this chart, and I look at what I know about Market Cipher, and it looks bullish. If you take this in a vacuum, it looks bullish. The macro right now is very bearish. Everybody's talking about it. It's going to go down. Could we see a short squeeze potentially? I don't know. We'll have to go see it. But like I said, I do think we are going to see it go down probably before it goes back up, but there you go. There's your charts. Don't forget, charts sponsored by Biggett. We love Biggett. You guys can sign up for Biggett. We have a link down below for you guys. And that, man, I am so far away from the camera. I look so tiny. I look so little and tiny. Look how little I am. Um, what's up? Yeah, we can try. We can try that. Um, okay. Did you think altcoins were risky? This NASDAQ stock dropped 93% on day one. And also a reminder, guys, on Biggett, we do have our KCGI trading competition coming up. Then it starts next Friday. You guys make sure to check it. Sign up for Biggett so you can sign up for the competition. Right there. Oh, there we go. Okay, let's see. Now, BJ's in the way. I can't see the screen. Alright. Perfect. Yeah, that looks much better. Look how big I am. I'm a big boy. I told you. Look how big I am. Okay. Alright. So what stock dropped 93%? It's not a bank stock, believe it or not. Um, and this is Better Home and Finance Holding or Better.o. Better.o. I tell you what. It is a, let's see, online mortgage lender. Since shockwaves, when it dropped 93%, making altcoins even seem like a better bet. Very interesting. And, guys, this is where we're seeing this. We're seeing a fundamental shift in the world. We're seeing a fundamental shift in the world of investing. What we're seeing is that crypto has seemed to be risky. A lot of people thought crypto is way riskier than the stock market. And, yes, it's kind of proven to be true over the short term over the last 10 to 20 years. However, you're starting to see the cracks in the stock market, and you're starting to see that the riskiness of crypto to people, people are starting to think about it a lot more in terms of the upside potential, not the downside potential, and they're willing to take riskier bets to change their lives because the economy is so bad and the stock market is so bad and the inflation is so bad. And so you're seeing the cracks in the stock. People are losing faith in the status quo of the stock market, and they're also at the same time becoming more comfortable with risk on assets like crypto. It's like a meeting in the middle almost. One day, crypto won't be as explosive as it is now. It's one of the opportunities here now for you. So there you go. Alright, so moving on here. Prime Trust admits to losing $8 million invested in the Terra ecosystem. And let me tell you, this is interesting because our guy, Corey Klipsten, Swan Bitcoin, this is who he was using to hold all your Bitcoin, the same people who lost $8 million in Terra. Guys, Bitcoin is self-sovereign. Bitcoin is about owning it and about custody and about digital real estate. It's about that. However, you have some of these Bitcoin maximalists that have discovered ways that they can make money and sell lies to you to the true Bitcoiner. They can sell lies to you, and you'll believe it because you trust them because they're a fellow Bitcoin maxi. That's the Corey Klipsten story with Swan Bitcoin. Guys, he's blaming Alex Wojcicki, blaming FTX, blaming CZ, saying this is the problem in crypto is he centralized agencies, holding too much power and too much weight, and yet his own Swan Bitcoin trusted in Prime Trust, a centralized company, that they put too much weight in stock into. You just kind of see the circular problem. Um, let's see here.
The Bitboy Crypto Podcast
"hints" Discussed on The Bitboy Crypto Podcast
"We are here in the Bahamas working to make it right. If you can't have a millionaire, would you keep working? The commander is here. What's going on right now is California's trying to figure out if they can defeat the government that popped the pot. Yeah. Oh, I can. Welcome to BitBoy Crypto! Home of the BitSquad, the largest and greatest crypto community in all the Interwebs. No channel works harder to keep you in the know about crypto than this one right here. My name is Ben. Come to you live every single day at 11.30am Eastern Standard Time. Exactly. Also known as 9.40pm MST, is that what you call it? Mountain Time Zone. Anyways, regardless, I digress. We are here at RARE EVO. We've got our Bencoin booth. I don't know if you saw pictures of it on Twitter. Super exciting. And, you know, it really made me think when we got here about what was going on last year at this time. And I think that's really where I want to start before we get into the show is really thinking about last year, this event was in October. And it was very interesting. I just talked to Charles. Charles just gave a speech on stage. Charles Hoskinson, founder of Cardano, of course. And last year, him and I did an interview on stage. And the interesting thing that really occurred was not what people got to see. It's what people didn't get to see. The behind the scenes was so interesting. Because if you remember, I made my famous Sam Bankman-Fried rant around the middle of October. This event was towards the back half of October, if I remember correctly. And the thing is, I had already marked the enemy territory with Sam. And our bill was progressing. And I had sent my bill to Charles. And I sent everything that, oh, there's crypto India. She looks like a monkey. She's got a banana. The fact is that we're spending all of our time and our resources and, you know, really trying to put things into this bill, and I asked Charles if he would support it. Same reason we sent the bill originally to FTX. And, you know, there's different stuff going on, but the point is the conversation went kind of like this. Charles, I don't understand. Why do you not want to support our bill? Like either financially or kind of giving it a vote of confidence? And he said, well, you know, I don't think the CFTC is going to like it, is what he said. He's been, you know, on Capitol Hill on the behalf of the Department of Agriculture, which, you know, all crypto falls under. And he said, you know, but here's the thing. I've dug into what you've been saying about Sam. And he said, it's true. Sam is doing all the things that you said he was doing. And here's the line. He said, but, you know, in the end, he's Sam Bankman-Fried. He's going to mess up. He's incompetent. That's what he does. And let me tell you, you want to talk about an accurate statement. Look how everything played out last year. Like being here and talking to Charles a second ago, it just really reminded me of that event. But here's the thing. You've got bad actors, okay? And there's a lot of bad actors in crypto. We know that. But the bad actors, they almost, in a roundabout way, it's like one of those circular staircases where you can't ever find where it, you know, enters and exits. Where are the good actors? And where are the bad actors? And the thing is, is that the bad actors, they almost force the good actors to be shown and to be present. And I think that's what you've seen over this last year is with the contagion and with the Alex Wyshinsky and Sam Bankman-Fried, you know, you really start to see who the good guys are, and they're not who they told you they were. And, to me, being here at Rare Evo again and seeing where we've gone in the last year, of course, you got a lot of bad stuff, but there's something like Bitcoin that now, you know, we're running. We've got our booth here. Super exciting. And it's all about crypto adoption. It's about taking those things that, you know, aren't quite right with crypto, whether it's the public perception, whether it's the education about crypto, whether it's the government, the policies, regulations, or whether it's the media, you know, we've got a lot of stuff to fix. And this technology can be used for the good. And that's ultimately what's going to happen. It's just a matter of the good guys, I guess, outshine the bad guys. So, we're going to get started here. There's Wendy. Wendy, you want to come, just come be on the stage? Do you want a banana, you hungry? I must ask you a question. Where is Bitcoin going to? We're going to go to do our show later today, I think. Tomorrow. Tomorrow, yeah. Our show's tomorrow. We're going to film lots of episodes tomorrow. Yeah, we're going to do four. So, we're going to have four for you guys. And you're going to be wearing something, aren't you? Oh, yes, I bought an apron. Do you want me to wear a muumuu? I draw the line that started to look like a woman. It was a cat muumuu, but they had one in blue. Yeah, they did have one in blue. It is true. It's not the color. It's like a dress. I know, but you could have worn pants. You can't do it. It could have been like ATL shorty. Shoddy. It's shoddy. It's not shoddy. It's shoddy shoddy. Well, from the west side. I can tell. I can tell. ATL. Shoddy shorty. Okay, well, here's orange you glad that you brought that banana? Bye, guys. Okay, guys, let's go get started with MarketWatch here. As you do know, we did officially switch to CoinGecko from CoinMarketCap. Now, I can't really see the chat, I don't think. So, yeah. So, guys, I love you a lot. I can't see you today, but you get to see me. And we're probably going to, guys, we're probably going to plan on ending it about probably 12.30 today. So we're going to go through the show kind of quick. Okay, so here we go. We are on CoinMarketCap. Okay, there we go. Is BJ manually switching this? He's in here. Okay, looking at the overall markets. By the way, CoinMarketCap did actually start fixing some stuff. So they did email me after my big tirade the other day. So we'll see what happens there. The market cap almost at $1.1 trillion. You know, we were just barely over a trillion a couple of days ago. Volume, $36 billion. Bitcoin dominance, 46.4%. ETH dominance, 18.2%. I'm going to get a little more used to these CoinGecko numbers to know whether that's up or down. I don't even remember. Gas, 15.0 Paraguay to send you an ETH transaction. And I hope you guys enjoyed us going live from this, thank you, we're going live from rare evo today. This is one of these things where, you know, the more we travel, the more we go to events, you know, we can have BJ with me. He's an animal with the tech. And there he is. There's BJ, ladies and gentlemen. So, you know, we want to be able to bring you guys more live shows even when I'm on the road instead of, you know, look, we love Deezy. He's great. He's here. But I know you guys don't necessarily want to fill in. And all my Deezy fans, I guess y'all like around the blockchain anyway, so he's going to be going live or going to be doing a show from here as well. Bitcoin coming in at $26,000 approximately. Ethereum coming in at $16,400. Uh-oh. Scam. BJ, Scam Likely is calling you. Scam Likely is calling you. $16.48. Let's see. Where is the old XRP coming in at $0.51? Yeah, I mean, we pretty much wiped out the entire gain from the lawsuit. And I wasn't expecting it to retrace all the way, but I guess it kind of depended on how high that it went. If it had gone $3X, then it shouldn't have. It just doubled. $0.50 to $1 and then, or whatever it was, $0.45 to $0.90, and now it's crashed back down. But, of course, that's a reaction to the overall market. A lot of people are really expecting a big drop here. And I'm just not. Like, I just don't see it. I try not to get too caught up in the narratives. And, yes, there are some things about the 4-year cycle that do indicate that there should be more down action, especially compared to Ethereum to Bitcoin. You can chart it doesn't look good. But I almost feel like everybody talking about it, you know, it seems to sometimes negate that. When everybody's expecting a big drop, it doesn't really happen. That's the thing. When we got our big drop from $70K at the top, nobody was expecting that. When we got the FTX collapse, right? Out of nowhere, nobody was expecting that. And so right now, everybody's telling you a big drop is coming, and it's like Bitcoin just loves to defy the narrative. It fits within the fundamentals of the 4-year cycle, but in the micro, Bitcoin likes to defy. So, or defies, I may say. Let's see. Albert Condi with Superchat. I actually have the chat now. Yobin, you guys have lawyers on your payroll, right? Of course, with all the legal attacks from the US government, I want to watch some streams of discussions with lawyers who know crypto. Okay. That might be something we could, you know, might be better for maybe pre-recorded video rather than live streaming. Live streaming would be good too. But, yeah, thank you for the Superchat. Turn noise cancelling off. What does that mean? Is that us? Okay. One. What are you doing, BJ? No. BJ says no. BJ says no. We can only do the best, guys. What do we got? So next time, BJ says we're going to be a little bit even better prepared, so. We got RollBit coming in, 19.7% gains. If you guys did not know, RollBit is kind of a competitor to Stake in a sense, so we can't be covering RollBit really too much on this channel other than to say, look, the price went up, went up 20%, nice pump, and it's one of these things that's been running in the bear market, and it's obvious because people just want to gamble in the bear market because there's not a lot of gains to be had in the crypto world, so unless you're shorting or leverage trading, so RollBit's one to watch. Now, you know, Stake doesn't have its own coin, which is very interesting. I doubt they would ever do that. I don't think it's somewhere they want to get it, something they want to get into. But, you know, are we seeing a decentralized version kind of pop up? We'll have to see how RollBit goes. We have some coins up, barely. Big Ed token, Quant, Mantle, Polkadot, DYDX. So, alright, so let's go ahead and move on. Don't forget, guys, in here at the booth over here, we have a ton of Bitcoin merch. You guys, don't forget to check out hitmerch.com. We got an entire Bitcoin collection. So, you know, it's some really cool merch. Hope you guys check it out. I'm going to be in a dunk tank later, and I guess I'm probably going to see if we have some Bitcoin tank tops and shorts for me to get in the dunk tank with. It'll be everywhere now for charity. Alright, guys, moving on here. US Fed's Jerome Powell and Jackson Hole prepare for more rate hikes, so kind of serious, kind of, kind of not necessarily unexpected news, but they are really committed to, you know, lowering these rates and getting inflation under control, at least making it appear that it's under control. It's kind of like this. It's like, you think of quantum easing or quantitative easing, you can kind of think of it as like a superpower for the Fed, I guess, right? Like, what happens is, you know, I used to remember this game we used to play, right? All the boys, the boys, we go to the arcade. There are two games, really three games, that were four-player games that people just loved when I was a kid. You had The Simpsons. Simpsons was a four-player arcade game. It's pretty cool. Whatever. One of my favorite one, but I did beat it because that's what I do. I'm a winner. You also had Ninja Turtles. Ninja Turtles, man, what a great game that was in the arcade. Man, 4x4 action, you and your buddies, birthday party, you know, go to a big place like, you know. We used to go to a place called American Adventures, but there's other places, Dave and Buster's. And so what happens on this X-Men game? They had this X-Men game. And that was the game we all loved more than any of the other ones because it had this cool superpower. You kind of like store the superpower up, and you are willing to go all the way down to like one bar of your energy. You just take the hits, take the hits, take the hits, because you knew the maximum value of when you use your special power that will blow up everything on the screen was worth it. The appeal to use the quantitative easing for the federal government and Jerome Powell for the Federal Reserve is more appealing than the temporary hits that the economy is taking. They know as soon as they turn the quantitative easing back on, that they're going to be able to fix everything just to mess everything up again. But that kicks the can down the road, right? So they're willing to take the hits going down to no energy, your economy not do well, there's tons of stats showing our economy is actually worse than the Great Depression right now. It's all fake, and it's all smoke and mirrors. That's what the government's learned to do better over time is create the optical illusion that everything's fine when it's clearly not. So, Jerome Powell is, you know, basically saying like, hey, here's the thing. Let's see if this is all part of the optics. We're going to keep raising rates. It's what has to happen for us to get inflation under control. There's no such thing as getting inflation under control, guys. Our money is worthless. There's nothing behind it. It's going to happen again. Powell revealed that the Fed staff intends to hold the interest rates at a restrictive level until they are confident that inflation is moving sustainably towards a 2% target. They made their remarks at the Economic Policy Symposium, also popularly called Jackson Hole Symposium, or Jackson Hole Meeting, posted by the Federal Reserve of Kansas City. I actually took a picture outside that one time when I was there for a Chiefs Finals game. Prior to the speech, traders were anticipating the Fed chairs' comments on the long-term economic scenario amid the ongoing macroeconomic uncertainty. So, there we go. And, of course, Bitcoin price hasn't, doesn't seem like it's really done that much for the Bitcoin price one way or the other. Okay. So, also, guys, we have IRS spares, crypto miners and validators and new broker reporting requirements. And, you know, here's the thing, guys. I told you that this thing about who's a broker in crypto, right? It was in some language of the big Digital Currency Act that got, you know, implemented a couple years ago, and everybody was worried about this broker language because it was going to affect miners. I told you the whole time, guys, the system has a lot of different fail-safes in it, okay? And so when you see one of these stories like China banning Bitcoin, like, okay, cool, you know, it's not that big of a deal. I knew this broker stuff in the United States. I knew it was going to end up not being a big deal. The language was not clarified in the bill, but I said it would get clarified later. And here, you have the IRS saying basically exactly what I just told you, is that even though the bill said one thing, this is what the IRS is going to do and how they're actually going to legislate and regulate this, or I guess the IRS just keeps up with the money. How are they going to hold it financially accountable? The Department of Treasury released its highly anticipated proposed regulations for crypto currency brokers. Notably, it's chosen to exempt individual validators and miners under the proposed rules. And this is big for DAOs, too, guys. Under the proposed rules, crypto brokers will have to adhere to the same rules as securities brokers, including filing information returns and furnishing pay statements for all customers and traders. The Treasury stated that the proposed changes aimed to curb crypto tax evasion and prevent crypto investors and businesses from getting an unfair advantage. Biden said there's as much as $18 billion left on the table. We all know he wanted that so he could give it to Ukraine or his son could squirt it up his nose. The rules that passed would go into effect 2026 for the 2025 tax year, which is absolutely huge because the 2025 tax year is the year to harvest the gains, right? That's when the bull market is going to be thriving, probably ending somewhere around the summer of that year. So, let's see. Yup. You guys, we're in a big room here. This is what happens when you're live at a conference, is what it is. Okay. Alright. Let's move on here to the XRP trial here. And you guys know our XRP section is always brought to you by stake. You know, in my opinion, some of the best bread that exists is a golden crown. Golden crown has got these rolls there. Now, they don't have anything else that's good, but they've got these rolls. They're immaculate. They're so good. They're buttered. They're fantastic. And it really makes every other roll that you've ever had just taste mid. So, BJ, please play the mid roll. Thank you to our sponsor, Stake. Thank you to our sponsor, Stake. Also, thank you to Rare Evo as well. Okay. Why the SEC vs. Ripple trial may never happen. Insights from crypto lawyer Fred Rispoli. Talked to Fred a few times. Good guy. The SEC vs. Ripple Labs lawsuit has been a significant battle in the crypto world. On July 13, Annalisa Torres, the judge, delivered a complex ruling. It wasn't really that complex. Prominent crypto lawyer Fred Rispoli took to microblogging platform X. It's like calling Bitcoin the flagship cryptocurrency. Like, the microblogging platform X. Is that really what we're saying now? Come on. Ryder, I know you get paid for word, but come on. I can do better. Desiria's belief that the trial between the two Ripple Labs executives may never take place. Here's why Rispoli thinks so. Pressure tactics. He argues at Garlinghouse that suing Garlinghouse and Larson was a strategy to pressure Ripple into a weak settlement position agree 100%. Witness challenges. Imagining key SEC figures on the witness stand. Rispoli believes figures such as William Hinman and Jay Clayton could be tied to their roles in the Trump administration, which might not sit well with a New York City jury. Proving reckless. Rispoli questions about how the SEC could prove recklessness regarding institutional sales when the defendants can point to programmatic sales as being acceptable. Weak evidence. Of course, the evidence concerning domestic vs. international sales is considered weak. Reorganization of the SEC's trial team. They've already been making some internal changes to their trial team in this case. Back-to-back trials with the SEC's tight trial schedule may hinder its ability to focus on this case. It's one of these situations where Gary Gensler does not want to let go. He does not want to let go of this. But he's going to in the end see that this is a losing battle for him, and he's got to make the choice to move on. It's a hard decision because it basically means that everything he's been talking about, his entire stint at the SEC, is nullified. And what does that mean? That means that he himself becomes replaceable because he's been in charge forever and he's done nothing. That's the whole point. It's why we need someone to replace him. And the writing is on the wall for him, and he is going to fight until the last second, but at some point, he's going to have to give up the ghost because he's going to start getting pressure from people outside of him. When he starts feeling that pressure, that's when this is going to be over. The lack of bargaining chips. He's just as he has no bargaining chips left if the judge denies the motion for the appeal. So the Interlocutory Appeal, definitely something to watch, something to pay attention to. We had to find out and see, you know, where Judge Suarez rules on that. Alright, guys. Moving on here to Robinhood. And where do we have charts on there at all? Are we going to do charts at all today, BJ? We have it. It's on there, Ben. Did I go by? Where is it? It's after this. Okay. Okay. Perfect. Yeah. Okay. I got it. Okay. Oh, I see it. There it is. It's on my screen. I missed it. Can $1.9 billion in expiring options shake the markets? You know, guys, we're getting to a place of decision point for the market. We're getting to a decision point. Bitcoin options expiry days come around again. And, guys, the end of Quarter 3 is going to be the end of September. That's going to be a, like I said, a decision point. Where is Bitcoin going to go? Are we going to continue upwards? And are we going to see things slowly ramp up to the halving? Do we need another bloodbath, another dump? Certainly don't see new lows come into play anywhere. But are we going to see a dump down to 20 before we have our resurrection point? It's all very interesting things to think about here. And if you look at traditionally when we were in the bull market, man, the end of those quarters would be absolutely brutal. They would destroy some of the pumps that we had. Now, we're on the backside. Now, we're in the bear market. Will the options within everyone's bearish attitude, will these actually counteract and go the opposite direction and cause a big pump? I certainly think it's possible. We could see that. Now, what does that mean? Well, the pain point for bulls and bears, the middle ground is $28,000. So at some point, it's going to either push up above $28,000 or it's got to show that $28,000 seems to be unachievable in the moment. Right now, with Bitcoin at $26,000, of course, it seems achievable. But are we going to dump down lower and make $28,000 kind of out of the picture again? We'd have to go below $25.2K and hold below that. Here's some of the options. You guys can see here what this looks like right now. We are, you know, heading into the 1st of September. This is the 25th of August here on the left side. That, of course, is, yeah, the 25th of August. That's Friday. That's today. That's actually today. Today is, no, no, sorry, today's Thursday, right? No, it's Friday. It's Thursday. It's Friday. It is Friday. I forgot what day it is. We didn't do the show yesterday, so it got really turned off. It is Friday. Today's the day they expire. So, guys, we'll be watching for some interesting action. You know, see, you know, if Bitcoin is going to pumper down based on all this. Right now, it's holding strong. The overall market cap around $1.1 trillion. So it doesn't seem to have that big of an effect so far. Okay, so let's go and move on to the charts.
Daily Pop
"hints" Discussed on Daily Pop
"Been less than a week since dropped. His donde album and people are already collect receipts on all the time he mentions kim. Well you got to hear. His new single hurricane will potentially mentioned having aside. Chick take a listen to go with two kids been but home improvement nemo. I'm so happy. I waited for that album. Because it's got you no matter what your opinions are. He always delivers. I'm sorry i think so. I'm a big con yay san. I like his music for the most part. I even liked heartbreaking or whatever that the one but this one is seemed like a lot was going on. It's too long has been happening. But and the album took a long time. But i just love that when there's an issue on the table you like to skirt around the real thing like what about him. Admitting that he was unable to gab allegedly allegedly by the way i mean also look it could be his art. It could be. It could have rhymed so he wrote it in. I mean it doesn't mean it's actually what happened but if what has been happy. Doesn't this all the time. He uses his lyrics. He uses his real life and he puts it into his. And you're like wait. What and that's why you wanna listen to the album because you wanna get t- and that's what you getting so it was after the second baby which is probably why kim had two other big. No no lab scary. No but i also think that it's never as big of a deal as we make it because he owns his stuff right when you do something and you put it out there yourself for sure. Well people really come for you.