35 Burst results for "Matic"
Crypto Altruism Podcast
A highlight from Episode 122 - Sweat Economy - Building The Economy of Movement with Web3
"Whole industries are born when you can break a trade -off that is considered standard. In our world, the trade -off is if you want to be healthy, if you want to be active, you got to pay. You got to buy a kit, you got to get your membership, you got to do all of these things. How can you be physically active if you're not paying? Actually, because it's beneficial to you and to a lot of people, we believe that you should be paid for it because it is incredibly valuable. Welcome to the Crypto Altruism podcast, the podcast dedicated to elevating the stories of those using Web3 for good. I'm your host Drew Simon from CryptoAltruism .org. Now, before we get started, a quick disclaimer. While we may discuss specific Web3 projects or cryptocurrencies on this podcast, please do not take any of this as investment advice, and please make sure to do your own research on investment opportunities or any opportunity, including its legality. And now, let's get on to the show. Welcome and thanks so much for joining. Whole industries are born when you can break a trade -off that's considered standard. I think that bears repeating and I can't think of a better example of this than Move to Earn. For too long, exercise has seemed like more of a chore for many and a very expensive chore at that, with the pricey gym memberships, expensive equipment, you name it. With the advent of blockchain, however, there is a unique opportunity to disrupt this and transform exercise from a chore into a rewarding and income -generating activity. To dive into this, I'm excited to welcome Oleg Fomenko, co -founder of Sweat Economy, an OG in the Move to Earn space with a mission to reward movement to inspire a healthier and wealthier planet. We discuss how Web3 tools can incentivize healthy actions, the evolution of Move to Earn, onboarding hundreds of millions of users to Web3, and much more. So without further ado, please join me in welcoming Oleg to the Crypto Altruism podcast. Okay, Oleg, thank you so much for being here today on the Crypto Altruism podcast. Such a pleasure to have you. Thank you very much, Drew, for having me. Very nice to meet you, Drew. Thank you very much for having me. So excited to have you. I had mentioned this before we got on the call that I've been following it for quite a while, and I'm really fascinated by this whole Move to Earn movement that's going on and how Web3 tools can really change how we get people to be excited about wellness and making healthy life choices. So before we get there, I want to learn about your aha moment that got you excited about Crypto and Web3 in the beginning. I learned about Bitcoin in 2011 from a childhood friend who described what it was, and that definitely perked my interest. Stupid as I was, well, stupid as I am, I got really, really hooked on technology. And I read an awful lot about how it works, the white paper, the Byzantine generals problem, and just basically as much background as I could. In 2011, there wasn't an awful lot. Then I have installed BT Guild. That was the first sort of pool mining software on my old laptop and put it in the corner, and it was sort of chugging along there for about a month, and they mined a few satoshis. Well, actually quite a few satoshis, but because the price was like 20 cents, it wasn't even covering the electricity that I burned on it. And I just threw away a laptop's hard drive for quite a bit right now these days. So I got hooked on tech, and despite the low prices, I actually didn't buy an awful lot of Bitcoin back then. And I had a very interesting sort of music streaming startup back then, and I was trying to figure out how we can do something in crypto, but at best we could just accept Bitcoin payment, which was cumbersome, slow and not terribly interesting, and just handful of people even knew what it was. So opportunity represented itself in 2014 when I started talking to my co -founders about the problem of why are people not as active as they want to be? How come that I used to run some crazy distances and climbing some of the highest mountains in the world, and all of a sudden I couldn't even complete 5k. And, you know, kind of one conversation after another, we very quickly realized that the reason why 100 % of people want to be more active, but they can't, is because nature didn't build us to be active. Nature built us to survive, which means preserving calories rather than spending them. And nature was so serious about it that it gave us this behavioral feature that helped us surviving back then, but right now it's probably a behavioral bug that prevents us from being able to burn those calories called present bias that stops us from, you know, kind of moving and forces us to sit, unless there is a mammoth on the horizon that, you know, that we need to run and kill, or there is something about to make us into food and then we need to run away. And we realized that there is only one solution to present bias, instant gratification. So we kind of went, ooh, so can we actually create instant gratification for every step you take? And that's the story of Sweatcoin. As the name would suggest, we were thinking about building it on blockchain back then, but forking Bitcoin was slow, cumbersome and expensive. Building on Ethereum, we discussed with Vitalik in 2015. We met with him in London. That wasn't really an option because it was just too early. It was a research grade code back then. And we launched in 2016 centralized. And we thought, you know what, give us six months, maybe 12 months, there will be some wonderful blockchain that, you know, we're going to migrate onto. Little did we know that it would take until 2021 for blockchain to get fast enough and robust enough to be able to hold our scale. So, you know, we looked every year and we analyzed everything that was sort of popping up. And until 2021, the answer was consistently, no, we were processing more transactions per second than theoretical throughput of any chain. And in 2021, all of a sudden there was this explosion, there was Algorand, Solana, Polygon, Avalanche, BNB, well, BC back then, and Flow and Celo and, you know, kind of all of a sudden it just sort of, there was a rush of these new technologies. And we got really excited and put a team on this and analyzed more than a dozen different chains. And sort on of after spending, I think, four or five months, we made a decision that we want to build on near. And yeah, the rest is history. We launched last September and it's going incredibly well, incredibly well. I'm sure that we're going to have an opportunity to talk about some of the numbers and metrics and, you know, sort of, yeah, totally. Definitely. I mean, you've had quite many, many, many achievements and it's really grown at an incredible pace and the amount of people that you have engaging with this platform now every day. And, you know, it's good that you really took that time to kind of like, you know, think and make sure that you had the right blockchain, the right timing. And it sounds like you made a good choice there with Near. And sustainable business model as well and token economics. Yeah, for sure, for sure, which is great. And so you talked a little bit at a higher level about sweat economy, but do you mind giving an overview to our listeners of, you know, what it is, what the mission is of your organization? Sure. The mission of the regional sweat coin and that's what economy is to make the world more physically active. And, you know, it seems like it's sort of a tree -hogging mission. And the reality is it couldn't be further away from truth because we actually realized that physical activity has tangible financial value. When I say that your physical duty has value, everyone nods, like you just did right now. But if I ask how valuable it is, people kind of go, could you reframe the question? Could you use different words? I'm like, no, I don't have to. Typically, if something is valuable, it has value attached to it. And here we have something valuable, but we cannot attach any number to it. Maybe there is an opportunity there. And then we started thinking there is an interesting economy that draws parallel with physical activity. It's attention economy by some estimates attention economy now is about $7 trillion business, all the Googles, Facebooks, everything advertising related sits in there and actually quite a lot more. And the interesting parallel between physical activity and attention is that like attention, physical activity is valuable to you. You know, when you pay attention, something starts, you know, you can engage with something, you can get new idea, you can meet somebody, you can, you know, potentially entering some sort of a conversation transaction and purchase something. Very similarly, physical activity is a better physical state, it puts you into a better mental state, it extends your life. And like attention, physical activity is beneficial for a lot of other parties, a lot of other participants on the market, starting from your family that is, of course, would prefer to have you physically active rather than not because they want to enjoy your company for longer, they want you to be in a better mood. Your healthcare provider, your insurer, your employer are all interested in you being physically active and actually prepared to pay for it. Especially insurers, they know very well that your health insurance and your life insurance, if you're physically active, should be a lot cheaper because you're a lot better risk and you genuinely a lot better business for them. Now, attention economy exists and it's $7 trillion, movement economy or physical activity economy doesn't. There is absolutely nothing there. We can talk about it, we can discuss these use cases, but it doesn't exist. And then we thought, hang on a second, in order for humanity not to spend 200 years building this economy, why don't we actually think of creating a token that is tokenizing your physical activity and makes it into a liquid asset that you can exchange with other parties? That's how the concept of Sweatcoin and now Sweat was born. So coming back to your original question, Sweatcoin is our health and fitness app. Despite the name, it's actually not crypto because for eight years we couldn't operate in crypto. We got 240 million users using this application. And when we could move to Web3, to blockchain, it was too late to tell everybody, like, look, from tomorrow, it's going to be completely different game. tokenomics is going to be different. You can't do that. So we had to put out a new token that's called Sweat and it is a crypto token built on NIR. And effectively the way the two businesses work together is you choose, you either play Web3 game and you just create your crypto account and then your steps are converted into Sweat. Or as a lot of people, you know, kind of choose to, they don't opt in and then they get Sweatcoins, which is a centralized points, think of it like air miles that you can gather and you can use inside Sweatcoin, but they cannot be traded on exchanges. They are not real crypto and not as liquid as Sweat, the token. And of course, these two tokens have very, very different token economics. Sweatcoin, for every 1000 steps, you earn one Sweatcoin and Sweat is constantly demanding an increase in number of steps in order to meet next Sweat. This way, supply dynamics are a lot healthier and we have become deflationary already from the month of July. So July and August circulating supply has been slowly shrinking. Wow. Interesting. So much going on there and like incredible. First of all, with the amount of folks that you've been able to onboard the love, the idea of like offering, you know, Web3 and Web2 version, because it might just be those people that maybe aren't quite ready yet, but want to experiment a bit, want to learn about the technology first, then it gives them an easy kind of entry, you know, accessible entryway, which is great. And so you talked about the Sweat token, which is the built on the near blockchain. And that's kind of the for the Web3 version, the currency that kind of behind this whole movement economy. So you talked about that users will get this, they'll earn this from from walking, engaging in that physical activity. What can they do with these with these tokens once they actually receive them? What's the like utility of them? Yeah, no, there is there is plenty. But actually, if we take a step back, because I think in the crypto world, a lot of people are sort of obsessed with the word utility. I actually think that the more important question is, if you ask somebody, why is this token valuable? Yeah, what is the answer to that question? And I have answered to both of these questions. But I would like to start with the one that I think is more relevant in long term, why is Sweat valuable? And the reason why Sweat is valuable is because it is produced by your verified physical activity. So when you move, and if you try to cheat, it doesn't work. In fact, if somebody is trying repeatedly to kind of break into the system and you know, sort of game it, then we just disable accounts and they can never return. But if you put in genuine physical activity, so you sweat it, then we verify it. And we issue with this token that is tokenized physical activity of yours. And because of that, there is no single question in people's mind that it is valuable. It's a very, very different relationship to a string of numbers that sort of miraculously appeared out of, I don't know, nothing, airdrop, I don't know, whatever activity. And then people, majority of people, not crypto natives, but crypto curious are wondering, why does it have any value at all? Why is it not zero? And that is an extremely difficult question to answer. Now we don't have this problem. However, crypto educated or crypto informed you are, that's my physical activity. That's my sweat. That's not zero because, you know, it cannot be, you know, can I sweat it over it? Right. And this is an answer to the longterm question. So in five years, 10 years, 15 years, 20 years time, when people are going to be talking about why is sweat valuable, they're going to say, are you kidding me? It's a tokenized physical activity. How can it be zero? However, it doesn't stop there. You know, in order for us to build movement economy, in order for us to feel sweat with this meaning that it is tokenized physical activity, in order for us to establish financial, you know, kind of number or just a value to it, we need to play a game in the interim that is effectively creating utility and demand drivers for sweat. For a lot of projects, that's all they do. We do have a longterm vision that I've just described to you. The short term vision is extremely simple. You need sweat in order to participate in our kind of network in our platform, you stake sweat, and you earn interest by taking sweat, you also have access to a lot of rewards that are linked to health and fitness, well being fashion, etc. So this is an extremely engaging thing for our users, you are also earning sweat from our learn and earn. And because 90 % of our users are brand new to crypto and web3, they are seeking and are very interested in information. So what is taking? How does it work? You know, how do you transfer? How do you receive crypto? So we are building this whole ecosystem of effectively onboarding products and information, how do you become a proper crypto native? Last but not least, are a lot of functionalities that are being rolled out right now as we're ramping up for our US launch. The most exciting one is Sweat Hero. It's a free NFT game that effectively, if you engage, come in, we give you an NFT of legs. Because, you know, we're about walking and running. Yeah. And, you know, you get the NFT and you can play with other people, literally walking, I'm not going to go into mechanics, if you're interested, you can sort of go and look at it yourself in Sweat Wallet app. Or if you are in the US and you can't still use all the functionality, then you can just go on YouTube and put Sweat Hero and there are plenty of screenshots and screencasts from users that have been participating in beta testing. So you basically go into battle and the game and I battle you and I put 10 Sweat, you put 10 Sweat, the winner takes 80 % and the 20 % goes into what we call a battle fee, which is effectively a token sync that community votes on later on. And that brings me to your one of the first and earlier questions, you know, about move to earn and sustainability of the business, because we're frequently asked, you know, how are you different from, you know, kind of other projects out there? And we say, well, tens of millions of users is one thing, nine years of history and therefore ability to spend time thinking about building sustainable business and sustainable token economics. And what we are doing right now by scaling and not going into that spiral is evidence that we know how to build sustainable businesses that really function. More than that, as I already mentioned, in July and in August this year, Sweat has already become deflationary. So the sources of demand on a monthly basis are higher than emissions of token by you walking, plus all unlocks, users, team investors, and everything. So the number of tokens that hit the market is lower than the number of tokens that are extracted from the market, which in web two world would basically be definition of profitability. Yeah. Yeah, for sure. Very interesting. Yeah. So much on the go. And, you know, I love this idea as well of the Sweat Hero NFT game. I think that's a really fun way to engage people in a different way and to bring NFTs in the mix as well. You mentioned move to earn in there too. And so I know that obviously Sweat Economy kind of is a great example of that, you know, move to earn ecosystem fits within there. You know, there's, it's a pretty early stage space for sure. You know, fairly nascent, a couple projects for sure, like yours that are really growing at a rapid pace, but still very early. Where do you see things when it comes to move to earn in the future, let's say five to 10 years from now? What do you think? How do you think it'll shape, you know, the overall wellness sector in the coming years? I mean, there are several very interesting things here. One is, whole industries are born when you can break a trade -off that, you know, is considered standard. You know, for example, internet broke this trade -off where you could deliver rich message, but very few people, or you could deliver extremely poor message and extremely narrow message to a lot of people. Reach and richness was a trade -off. Internet broke that and the rest is history. You know, you can talk to individual with extremely rich message and sometimes screw with their heads as well as Cambridge Analytica has proven, right? So it's a double -edged sword, unfortunately. So in our world, the trade -off is, or if you want to be healthy, if you want to be active, you got to pay. You got to buy kit, you got to get job membership, you got to dress, you got to do all of these things. You know, how can you be physically active if you're not paying? Actually, because it's beneficial to you and to a lot of other people, we believe that you should be paid for it because it is incredibly valuable. Like in attention economy, you are given free products in exchange for your attention. Why wouldn't we be doing exactly the same thing in exchange for my physical activity? So move to earn is breaking this trade -off and I believe that it is going to become a more or less standard approach because if physical activity was only valuable to me and me alone, I would need to pay. But given that it drives an incredible amount of value for everybody, including countries, I mean, if you're physically active, you're going to be more economically active for longer. The tax revenues from you are going to be higher. It's good business. You know, even if you're looking at it in the dry light of day, obstructing yourself from taking care of people, making sure that, you know, this country is a good place for them to live. But even just in financial terms, it's good business. So this is the first thing that all the businesses in move to earn are doing, regardless if they're Ponzi or non -Ponzi actually think that it's great because businesses are reminding people that their physical activity has value. Bingo. That moves this whole idea of movement economy forward. The other trend that I see is that we need to get fewer people who are focusing on crypto natives, which is the case with a lot of other products and are focusing on mass market, because the value is not in making very, very narrow field of already reasonably rich and wealthy people more physically active. The real value to humanity is going into the lower social stratas, because that typically is where behavior change is most needed. If you look at dominant in A and B social groups, but it's starting to ramp up as you go lower down the income tail. So we need to start focusing on these people. We need to start developing propositions that are absolutely free, that are extremely simple to engage with, like what's what economy is doing. Because a lot of people are asking me, crypto, web3, what's your advice? And my simple advice is, look, we're so early, I can't even point a finger where to go. But if any of you remember internet of 96 and 97, you would remember that, I mean, there was Yahoo, right? There were very, very early businesses. None of them are really sort of dominating. And the opportunity is still there. And the opportunity number one is we still don't have an email for internet. We don't have an ubiquitous use case for web3. That email became for internet. That's what we're focusing on. Can we develop something that every single person on planet earth would be interested and benefit from if they engage with? And if you have legs, and if you can take steps, you know, you can engage with sweat economy. And I think we're on the right path there. The other thing that I would say is that if you actually look at the overall web3, and all the different tokens that exist, I see right now only three use cases or three classes of tokens that can be explained in a very simple fashion. Why on earth do they have value? Case one, Bitcoin digital gold, inflationary protection. It's capped supply. Everyone is paying attention to it. Everyone is in because of the first mover advantage. Therefore, it is playing the role of digital gold and probably is replacing gold as that inflationary protection asset. Case two, layer ones, computers securing asset ownership on the internet. Like electricity powers computers, like tokens, like ETH, like NEAR, like Avax, like MATIC. You need to have them in order for these computers to work for you and secure ownership of assets. And case three is tokenization. And here there is kind of wide range. The most simple one is tokenizing fiat currency, USDT, USDC. Basically, you are turning an asset that already exists into a token to make it more liquid, easier to transfer, easier to exchange with a lot more censorship resistance and with fewer parties being able to tell you can you or cannot you conduct this particular transaction. And there is a lot of experimentation with other assets like TDELs, for example, kind of tokenizing them. And we are pushing absolutely boundaries of that because we're not tokenizing an asset that already exists, that already has markets that can be exchanged. We're creating new asset class because as I said, everyone agrees that physical activity has value. It should have been an asset, but actually without blockchain, it cannot be turned into an asset. And we are creating new asset, new asset class, and the whole new industry that cannot be created without blockchain participating in this.
Crypto Banter
A highlight from 5 BIGGEST Opportunities In Crypto THIS WEEK! (I'm Taking These Trades)
"In today's show we're going to talk about the five most interesting plays of the week, three of which I am actually taking. We have short setups, long setups in what is said to be a pretty interesting week for altcoin specifically and that's why I'm bringing to you my favorite setups of the week and also some of the most interesting coins that have altcoin specific catalysts. So if you do enjoy these watchlist shows every single Monday to prepare you for the week make sure to smash the like button and let me know in the comments below you do enjoy them and we will keep this going as a regular series. All right, kicking off with coin number one, we're going to be boring. We're going to talk about Bitcoin. Of course, it's not an altcoin, but it is in a pretty interesting zone right now, hovering above the key horizontal support level at the 25 -3 zone on the weekly. Bitcoin though, important to note, is still below the 200 MA on the weekly, which is typically a bearish indicator for Bitcoin. We know previous times that this level has acted as a major level of support and resistance. also So the 200 weekly moving average is super important and also the 200 moving average on the daily as well. So just keeping my eye on how Bitcoin reacts here, clearly 25k is that key level, but it doesn't look great for Bitcoin. Momentum in my opinion is still to the downside and the more we test that support the higher chance it does have of breaking, not being too bearish necessarily, but just urging you guys like a little bit of caution as long as we are below the 200 MA on the weekly. Let's get into the first altcoin of the video though in light of that, and that is Chainlink. So Chainlink is one that's actually performed really well this week in the lead up to their Smartcon. Their Smartcon 2023 is essentially a conference where developers and speakers all meet together and talk about the future of the industry, but specifically Chainlink. And we see there are many major speakers, the founder of Chainlink, we even have the former CEO of Google and multiple other major prominent figures across the crypto space speaking. So in the lead up to this, we've actually seen Chainlink perform really well from a price perspective. But in the graph in front of you, I do have the chart that outlines how Chainlink has performed in previous times leading into Smartcon and then leading out of Smartcon. And we can see in 2022, Chainlink actually peaked on the day of Smartcon and then gave up its gains in the following weeks. We can see in 2021, a similar thing happened. Two days before Smartcon, Chainlink peaked. And then after the conference, we saw a huge post -conference dump. Will the same pattern play out? Well, not necessarily, but I am convicted in the case leaning towards a dump post -Smartcon just given the price action that we've seen recently in line with previous data. So I'm convicted if I have to pick between longing and shorting Chainlink, but I think there is a decent short setup brewing here if it does push into the upper echelon of its range territory here on the weekly. And also, as you can see on the daily too, it's firmly within this range, actually approaching the mid -range zone. Maybe we get one last thrust into Smartcon because we know that the conference doesn't start until October 2nd. So that is still a week away. So I expect price performance probably to continue to the upside over the next few days. But then leading into the conference, if you are looking for a short, this may actually be a good one if those RSIs start to get into overheated territory just given what has happened in the past for Chainlink. So that is on my watch list, not as a long, but actually as a short, just playing the range here. We know if you take trades towards the extremity of the range, you're getting much better risk -reward. So the extremities being the upper echelon here near range high and the lower echelon here close to range low. These are your major levels that you want to take swing trades at considering since May 2022, more than a year Chainlink has been in this range. Very, very boring coin, pretty much a stable coin, but has provided great opportunities to those that have been able to long close to support and short close to resistance here. So maybe a setup starting to prime here on the short side if we continue to push upwards. Why wouldn't I long? Well, considering what's happened in previous conferences in line with the recent massive move that we've had, I think you may be longing into an area where it's going to be hard for Chainlink to push any higher. So that's that. All right, now we're going to have a bit of fun. Going to give away some money. So I'm making bold. Five users going to close my eyes actually to make sure I'm not accused of manually picking the users here. All right, I've just highlighted five people in bold. All of you guys are going to win $200. Bang, just like that. So every single person, this wallet here, this wallet here, this wallet here, here and here. If you are in bold, you are going to win $200. We're going to send it directly to your wallet. And that is because you provided liquidity on SmartX. So as you know, every single week, we are airdropping $200 to five random people that provide at least $50 worth of liquidity into SmartX across either Arbitrum, BNB, Base or Polygon. If you don't know what SmartX is, it's essentially an AMM -powered DEX, which is solving the problem of impermanent loss in crypto. A big problem to mitigate the negative effects of impermanent loss and also provide some pretty nice yield opportunities for people that are looking to earn yield on assets like Matic, like Arbitrum, like Ethereum, like BNB and all sorts of assets. USDC also, you compare with their native coin as well. So depending on what risk you want to assume, depending on which tokens you hold, you can stake it into the platform to earn some pretty nice APRs between 20 and up to 50 plus percent. And yeah, if you deposit minimum $50 liquidity and you enter your wallet address using the link in the description, you will enter the giveaway to be one of these lucky people that just won $200 on the show today. So link in the description. Good luck to everyone that is entering the competition for next week, where I will announce the next crop of five winners. And without further ado, let's get straight on with the show. The next coin I want to discuss is Arbitrum. Arbitrum is a really interesting one because they just announced their short -term initiative grant program, which is essentially a form of ecosystem stimulus. So we know when they did the airdrop, that was largely concentrated towards people that were using the Arbitrum chain, but actually now they are starting to help out the projects to incentivize them by essentially allocating some of their token supply towards the projects in the form of incentives grants. So what the projects can do is they can essentially bid for an airdrop. And if Arbitrum elects them via a DAO proposal, which is actually recently being completed, these projects will receive airdrops and then they can choose how they want to distribute those new tokens to their community. So I think that is a little bit of a catalyst to the Arbitrum ecosystem because we could see increased incentives across these platforms, which could obviously help attract some more TVL into the ecosystem. Next week, we also have Arbitrum Odyssey returning, which is also another initiative to get retail involved and you can earn rewards via that. As I said before, we've got this short -term incentive program launching with 50 million ARB, which is around $30 million being distributed to active Arbitrum protocols that apply for the grant. I think this will give the Arbitrum ecosystem a nice boost. I'm just looking at the chart here. Well, the chart looks ugly, but Arbitrum is at significantly discounted levels since it broke below this major dollar support region, which has been pretty strong support for Arbitrum since it first launched. So yes, technically Arbitrum doesn't look good price -wise, but I am maybe going to add a little bit to my bags this week. I have to decide whether I'm going to do that this week or whether I'm going to wait a couple of weeks. Nonetheless, I am definitely eyeing this as more of a spot trade, not a leverage trade because we're not at a key support level. My leverage trading scenario would probably kick in closer to this region if you do get like a confirmed reclamation. But until then, I'm definitely looking at the possibility of adding spot and that's why it makes my coins of the week, given it has a proprietary ecosystem catalyst, which comes in the form of the grants alongside heavily discounted prices heading into EIP 4844 later in the year. Another coin that's heading into EIP 44 being a layer 2 protocol is Optimism. But Optimism actually comes in as my short hedge of today's video. So you guys know in these watch lists, I don't just like to give long setups. I discussed Chainlink potentially being a short setup. Optimism as well, I think could potentially be a short hedge set up this week. What do I mean by short hedge? Well, a lot of you guys probably have relatively like long weighted portfolios, meaning like you're more long than you are net short. I mean myself, that's the case. And usually when I take longs in the market, that will put me in like a naked long position, meaning like I don't always like have a short hedge. But sometimes in markets that are looking kind of shaky, like right now when we get Bitcoin chopping and looking kind of weak, sometimes it's smart to have a hedge. So let's say you long three altcoins in a week. Sometimes it's good to pick like a specifically weak altcoin to hedge short against those other positions to get some sort of neutrality in case your trade goes wrong. Then you can kind of minimize the amount of risk you're taking. It's a strategy like all the top traders will use. And depending on your position size, you can even reach like Delta neutral territory with pair trades and all that sort of thing. But just to keep it really simple, I think Optimism has like a major unlock this week with over 3 % of the circulating supply hitting the market, $30 million worth of Optimism. The unlock event is in four days time. So this is a significantly big unlock for Optimism in what has been a pretty significant period for unlocks overall for the Optimism token. So in light of that, I mean, if you watch my video on token unlocks, search token unlocks, crypto banter, you should be able to watch that whole video. I explained what happens post major token unlocks. And typically what we see is despite peaks happening into unlocks, often the two weeks following the actual unlock date, we do see tokens tend to bleed and give up most of their gains. And if that plays out here on Optimism, then maybe we can expect like a rough couple of weeks from Optimism from a price perspective. So it's looking relatively weak. And if I look at the chart as well, we can see it put in its high here. It got rejected off this horizontal level at 1 .8 and it's made a lower high, another lower high, and looks to be rolling over again. If you start to clear these lows, then I think we could see further downside on Optimism. So those lows come in at the $1 .20 region. I'll just highlight them for you now. This level here, if you start to break below as we are now and you do confirm that breakdown, then Optimism could definitely be going lower. And for that reason, I would look at a short if we do get some sort of roll over here and a lower high start to firm up on the daily chart. But you could even look at it on the four hourly chart. Of course, you don't really want to take trades in the daily, use daily for your confluence, use one hourly, four hourly for your entries, depending on your timeframe. And yeah, Optimism definitely looking quite weak. So that is my short hedge of the week. So now let's get into a couple long scenarios because we've talked about two shorts. I've given you a long. Now let's talk about two more tokens that are more interested in longing that I am shorting. The first one is the OX token. Now for full disclosure, OpenX, the exchange, which is obviously powered by the OX token is an official show partner in today's video. I don't want you guys to get confused between the token and the partnership. I'm not paid to shield the token when I'm paid to promote the token. And I'm mentioning the token in a completely neutral light in today's video, just based on my personal thesis that has nothing to do with the partnership. Just want to make that very clear. The OX token though, the token itself, not the exchange, has, I mean, been significantly beaten down over the past few weeks. And this is because essentially a lot of users had locked up their OX tokens for three months after they bridged Flex, which was the coin Flex's exchange token over to the OpenX protocol and to stake OX tokens. And in light of that three months after they closed the bridge, you get a significant amount of unlocks because people are entering or coming out of their stake period. So when people come out of their stake period and they now have liquid OX, some people are going to choose to sell if they want to either take profits or just, you know, minimize risk on a maybe potentially oversized position that in tandem with users starting to receive their vested OX as part of the normal token distribution. We've kind of seen a lot of supply come onto the market over the last week. And this has resulted in a huge drawdown in the price from the 0 .7 region to the 0 .2 region. I mean, it's really been beaten down and I even took a loss on this cause I bought some OX and I staked it and I'm actually down on it. However, considering the staking ratio is still relatively high and there are a lot of people now going to be relocking for the long -term which reduces supply pressures. I do think that OX is starting to become a slightly more interesting look now at these heavily discounted prices if you do believe in the OpenX vision. And that vision is essentially, you know, of course, Carl Davies and Zhu Su but also betting on a protocol that's quite unique with its transparency features as well as the governance features of the platform which make it really unique for users like allowing you to, for example, stake OX and get its real -world assets in exchange for staking. So they do native airdrops. They've also been launching lots of tokens like really quickly. So they have this propensity to list tokens before any other exchange. So it's kind of like the degen exchange, I guess quite in tune with the market. And if you're betting on the redemption arc then OX does become an interesting bet. The volume on the exchange has been fairly strong $8 .5 billion trade volume since launch actually quite impressive. Average daily trade volume is around 100 mil on the seven day and or more than 100 mil on a seven day and 30 day timeframe. And actually 61 % of OX is staked and locked in the herd. So we are seeing some people after their unlock starting to actually relock OX tokens into the exchange. So look, you've got to make your own decision whether you wanna buy the token personally though not financial advice, but personally I will be adding some more to my bags and I'm gonna stake it as I staked a prior 10 ,000 OX might increase my position by let's say 30 % that would give me another 3000 OX. I'll probably go ahead and stake that. And that's my plan for the week but that's not financial advice. You don't have to do the same. And I wanna give full disclosure that OX is of course or OpenX not the OX token itself is a partner of the show. There's a link in the description to OpenX. If you do wanna check it out check out any information as well. And yeah, just thought I would mention that one because it's interesting getting a heavy discount if you do believe in the ecosystem, which I personally do. All right, let's get on to the next token. Another ecosystem I believe in and I believe in this one quite a lot. This is frack share. So I did a show last week. I think it was on real world assets and the potential. I mean, the sector is projected to grow by 26 X on the conservative side according to analysts at the Boston Consulting Group. On the more aggressive side of the spectrum they're anticipating 113 X in the real world asset sector by the year 2030. So that's seven years potentially looking at a 26 to 100 X. So this is a huge growth vertical and a massive adoption vertical for crypto really with tokenized assets coming on chain. And I'm always interested in protocols which are harnessing the potential of this. Now fracks isn't necessarily a real world asset specific protocol. They're doing a lot. They have their fracks land. They've got their fracks B3. They're launching fracks chain. They've got their stable coin. They've got a lot of stuff going on. They're essentially how I like to think of them as like a DeFi powerhouse. They're like the hand that controls DeFi, I guess. And is doing a bunch of stuff in multiple DeFi ecosystems. But if you're interested in real world asset exposure alongside a variety of other DeFi initiatives then I think fracks becomes a super interesting bet for a diversified portfolio. Now, the reason I'm talking about them in a watchlist video though, cause you know these Monday shows aren't just talking about long -term bets. Most of these are geared towards, you know the medium to short term type of trades is because fracks has its V3 actually completing its audit this week. So the fracks V3 audit means V3 is going to be on the horizon within the next few months. So that is an immediate catalyst for fracks as well as the fact that they could be getting an ARB grant because obviously their protocol is deployed across a variety of EVM chains, Arbitrum included meaning they could definitely get their hands on an Arbitrum grant, which would be another catalyst for the fracks protocol. So lots of stuff happening with the audit with the grant, with the new products that they're shipping fracks chain is also coming soon. So just lots to look forward to. And from a price action perspective it's been pretty resilient. Like we can see over the last 30 days it hasn't given up a lot of its gains. And even over the last 90 days, it has drawn down but it's only really dropped from, you know, 6 .8 to 5 .5 when a lot of other tokens have been smashed 30, 40, 50%. So yes, it's down, but it's not down as much as the rest of the market. And that tells me there's some sort of bid here for the fracks token at what is a discounted price versus a similar times last year. So fracks is an interesting one for me long -term mostly but in the short to medium term for me, this is a decent zone for me to add a little bit more fracks to my portfolio. And it's nice because it gives me DeFi exposure but it also gives me reward asset exposure. And it's a nice asset that I've just been DCA into over time. So that is a super interesting one. Let's just go through the market right now and actually look at Banta Bubbles and see if I can spot any that come to mind. Obviously I've given you a few trades in today's video but let's just see if there's anything else. Aptos actually does look interesting. It recently broke above some of the key horizontals that it was breaking down from over the past couple of months. So as a reversal trade, I definitely look into that. If I was a trader, I was even considering taking along today on it. I missed it unfortunately, but if we do get a pullback I might get into that one. So that's what I'm looking at. IMX not too interested in, let's just see on the weekly curve. Lots of stuff happening on curve but overall leans bearish with the amount of sell pressure in my opinion. FTT is a volatile one that if you're a trader you could definitely look at day trading. We know that there's lots of stuff happening with FTT given that the court case is currently underway and lots of the tokens now are changing hands and some are being sold. So it's quite interesting to see what actually happens here. We also saw some stuff happening with FTT and Binance as well. So those are kind of the coins from Banta Bubbles that I would keep my eye on. Another project to keep my eye on that's actually going to be launching soon is Serenity Shield. Now, Serenity Shield is a partner of the show that has a very interesting product launching soon. They're essentially launching a product which is referred to as the strongbox. Now, the strongbox is your ultimate security protocol for you to be able to store your assets in a decentralized, immutable and secure way. So if you want to store your assets but not have to worry about exploitation risk, not have to worry about ownership of keeping it on a centralized exchange, you can keep it in the strongbox protocol which is built purely for security to encrypt your data and encrypt your assets. But there are a couple really interesting features which they're introducing to make self -custody easier for the average user. One of them is the recover feature which enables users to have peace of mind knowing that their data is available using their recovery software without needing a hardware wallet which is available 24 -7. That's a good one because I don't know if you've ever been in this situation before but I have where I've lost a ledger and I can't find the seed phrase and I've been scrambling to redeem my assets. That's actually happened. I don't know if it's happened to you but if I had my assets in the strongbox that wouldn't have been an issue. The transfer function though I think is probably the most novel and maybe a kind of weird one to talk about since it's talking about inheritance which sometimes implies the death of yourself or potentially a family member but this does solve a massive problem in crypto and that's what happens if something happens to you. What happens to your tokens? What happens to your crypto? Are they easily accessible? Well in strongbox what you can do is you can put in a designated nominee and you can choose where your assets go if something were to happen to you to transfer your wealth down to your nominee. So it is quite interesting that they have this function inbuilt. It might be specifically attractive to adopt maybe the older generation that's actively thinking about this and they might hold bitcoin or ethereum but want those assurances and securities. They could leverage a protocol like strongbox that essentially enables them to have peace of mind over their assets and the transfer of those assets. So it's super interesting. You can see a little example of the platform in front of you. I will be using the platform on the show over the next few weeks to test it out for you but if you want to get involved right now they have a $50 ,000 search rewards pool. They recently had their token IDO, their sale to allow people to buy the token. If you want to get your hands on the token and you can do so via the airdrop all you need to do is click the link in the description and you can take part in the incentivized testnet for the strongbox dapp which is powered by the bnb chain. So all you need to do is essentially test out the application. You've got four days to do so using the link in the description and you could get an airdrop of some tokens. So not a bad one. If you just want to spend a few minutes of time there I will leave a link to this post which has a full tutorial and all the links needed in the description below and also in the comments as well to help you out. And yeah okay well that's pretty much the video. I got through it in a shorter amount of time. If you notice I'm speaking quickly it's because I want to get the info to you. We have the Bitcoin price which is currently leaning bearish but still at a major support but below the 200ma. You've got Chainlink which I'm looking at a short post conference. You've got Arbitrum which is interesting with its incentives grant. You have Optimism which I think is relatively bearish heading into a pretty significant token unlock. I just don't know if market conditions right now can absorb that amount of sell pressure. You've got Ox which I think is an interesting spot play considering a lot of the selling has now happened and we're looking forward to what hopefully is a slightly better period for the token with you know in the face of a lot of unlocks. You've got Frax Share launching their V3 and also their Frax Chain. This is one that I've been DCAing into and you've got the Serenity Shield airdrop as well. So that's the video. I'm going to see you in the next one which will be tomorrow. I really hope you enjoyed. I've actually been testing out a lot of training bots so I'm going to get back to testing out my training bots right now and I'm tweaking some strategies. That video will be coming very very soon. Very excited for that one but until then I'll see you later. Peace out.
Thinking Crypto News & Interviews
"matic" Discussed on Thinking Crypto News & Interviews
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, we've got some very big news around NFTs and I know some of you may not like NFTs or you've been burnt by NFT rug pulls, but NFTs are going to be part of the token economy that we are headed to. We've been talking about this for years and it's not so much the artwork or random Twitter users or crypto YouTubers and so we're launching NFTs, but rather big brands using NFTs. They already have a mass following, a lot of consumers and customers and so forth, and they are unlocking or helping you to unlock experiences and include exclusivity for certain services and products with NFTs. So here's the headline. Got to catch them all. Official Pokemon NFT trading cards take Polygon Matic by storm. So Pokemon obviously has a huge following to game the cards and much more. So the transition to the blockchain, the tokenization of these cards absolutely makes sense. People already trust the brand, right? They have established themselves as not being a scam. So NFTs here make sense. And once again, when this is pulled into the movie industry, the music industry and concerts and so forth, it's going to unlock a lot of unique experiences. And of course, there's a secondary market that you can resell these NFTs. And obviously I'm bullish on Polygon folks as the layer two scaling solution for Ethereum. So official Pokemon cards in the form of non fungible tokens are being minted over Polygon, taking the layer two scaling solution by storm in a lengthy thread on the social media platform X digital asset consultant, Sammy. ETH says that digital card boosters of the popular Nintendo franchise are being opened over the Matic blockchain and have already sold out by the hundreds. Some of them seeing 10 X increases in price, according to Sammy. ETH, the booster packs are randomized and initially cost $5 each. Some of them containing high grade cards that could be worth about $500. Here's a quote. Each pack costs $5 and had a chance of receiving one of any of the pre-disclosed cards. The randomization is executed fully on chain for transparency. Possible cards include PSA nine graded cards from 2000 with valuations of $500. So essentially folks, if you know anything about collectibles and trading cards and look, I, I collected, uh, Pokemon cards back in the nineties. And I have some, I think they're probably worth some money. That whole trading process and grading and, you know, getting the exclusive cards is going on chain folks. So I hope you see what's happening here. The evolution of many markets and the move into the being fully immersed on the internet and, you know, with a digital experience. So this is very bullish and you may say, well, I, Tony, I don't care anything about Pokemon who cares, right? Who cares about squirtle and Charizard and Pikachu. I get it. Look, I don't still, you know, follow Pokemon. I still have the cards that I hope maybe it will be worth some money as time goes by. But the point is it's going on the blockchain of the tokens. Many of you hold that's utility, and this is a big brand. This is a trusted brand, right folks. So this is what I'm looking for from an adoption standpoint. And it's one of the reasons specifically around polygon and Matic that I hold the Matic token, because I see polygon getting a lot of adoption from big brands. So to purchase the packs, investors can use either the stable coin USDC or a credit card. However, Sammy dot ETH says the packs now have a floor of around $50. Here's a quote to buy the packs. You can either use USDC on polygon or pay with a credit card. Anybody with zero crypto knowledge could acquire the packs. The floor is now $50, a solid 10 X from the mint price. Folks, this is bullish. In my opinion, the adoption, once again, not the NFTs specifically or their topics, but the big established brands minting NFTs and different things on the blockchain. That is what I'm looking for as an investor in these tokens. Now here's another example. The XRP ledger just set a brand new record when it comes to NFTs. So many of you may recall the XLS 20 update that rolled out about a year ago in October of 2022, which allowed the ability for NFTs to be fully functional on the XRP ledger. And we've seen a lot of adoption. So XLS 20 added the native non fungible tokens to the XRPL, allowing any XRP ledger account to generate own and trade an NFT on the XRP ledger. The standard in introduces native non fungible tokens to represent assets that are each unique, as well as opportunities to enumerate transfer and keep such tokens. Since the introduction of the NFT capabilities, the blockchain has grown dramatically and NFT activity continues to expand. According to Bithom statistics, 1.9 million NFTs have been minted since the launch of XLS 20. A total of 29,584 accounts currently own over 1.65 million NFTs. The amount of over 1.28 million NFTs was transferred or sold. On its official X account, Bithom reported these statistics in celebration of NFT day. And here's the tweet with all the statistics. So really great to see this is happening on the XRP ledger. Obviously, it's happening on multiple blockchains. But folks, whether once again, you hold any NFTs or not, this is part of the future. But once again, we want quality, not bullshit, right? Because there have been a lot of scams, a lot of issues. The NFTs actually have to have utility. And that's the key to unlock exclusivity, additional experiences and much more. Now, quick word from our sponsor, and that is Uphold, which makes crypto investing easy. I've been using Uphold since 2018. They have 10 plus million users, 250 plus cryptocurrencies, and they're available in 150 countries. You can also trade precious metals and 37 national fiat currencies on this platform. You can easily swap between all three. So if you'd like to learn more about Uphold, please visit the link in the description. Now we have some very big news around crypto funding. And I like to look at this news because it gives me an insight into what investors are investing in, who's raising capital, maybe some of the TradFi incumbents coming in, right? And this is important news because that capital will be deployed in the market. So Blockworks, they usually do a weekly crypto funding roundup. They said crypto funding startups raise $115 million across gaming, custody and institutional services.
Thinking Crypto News & Interviews
A highlight from BIG CRYPTO NEWS! XRP LEDGER NFTS SURGE! POKEMON NFTS POLYGON MATIC, $115 MILLION CRYPTO FUNDING
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, we've got some very big news around NFTs and I know some of you may not like NFTs or you've been burnt by NFT rug pulls, but NFTs are going to be part of the token economy that we are headed to. We've been talking about this for years and it's not so much the artwork or random Twitter users or crypto YouTubers and so we're launching NFTs, but rather big brands using NFTs. They already have a mass following, a lot of consumers and customers and so forth, and they are unlocking or helping you to unlock experiences and include exclusivity for certain services and products with NFTs. So here's the headline. Got to catch them all. Official Pokemon NFT trading cards take Polygon Matic by storm. So Pokemon obviously has a huge following to game the cards and much more. So the transition to the blockchain, the tokenization of these cards absolutely makes sense. People already trust the brand, right? They have established themselves as not being a scam. So NFTs here make sense. And once again, when this is pulled into the movie industry, the music industry and concerts and so forth, it's going to unlock a lot of unique experiences. And of course, there's a secondary market that you can resell these NFTs. And obviously I'm bullish on Polygon folks as the layer two scaling solution for Ethereum. So official Pokemon cards in the form of non fungible tokens are being minted over Polygon, taking the layer two scaling solution by storm in a lengthy thread on the social media platform X digital asset consultant, Sammy. ETH says that digital card boosters of the popular Nintendo franchise are being opened over the Matic blockchain and have already sold out by the hundreds. Some of them seeing 10 X increases in price, according to Sammy. ETH, the booster packs are randomized and initially cost $5 each. Some of them containing high grade cards that could be worth about $500. Here's a quote. Each pack costs $5 and had a chance of receiving one of any of the pre -disclosed cards. The randomization is executed fully on chain for transparency. Possible cards include PSA nine graded cards from 2000 with valuations of $500. So essentially folks, if you know anything about collectibles and trading cards and look, I, I collected, uh, Pokemon cards back in the nineties. And I have some, I think they're probably worth some money. That whole trading process and grading and, you know, getting the exclusive cards is going on chain folks. So I hope you see what's happening here. The of evolution many markets and the move into the being fully immersed on the internet and, you know, with a digital experience. So this is very bullish and you may say, well, I, Tony, I don't care anything about Pokemon who cares, right? Who cares about squirtle and Charizard and Pikachu. I get it. Look, I don't still, you know, follow Pokemon. I still have the cards that I hope maybe it will be worth some money as time goes by. But the point is it's going on the blockchain of the tokens. Many of you hold that's utility, and this is a big brand. This is a trusted brand, right folks. So this is what I'm looking for from an adoption standpoint. And it's one of the reasons specifically around polygon and Matic that I hold the Matic token, because I see polygon getting a lot of adoption from big brands. So to purchase the packs, investors can use either the stable coin USDC or a credit card. However, Sammy dot ETH says the packs now have a floor of around $50. Here's a quote to buy the packs. You can either use USDC on polygon or pay with a credit card. Anybody with zero crypto knowledge could acquire the packs. The floor is now $50, a solid 10 X from the mint price. Folks, this is bullish. In my opinion, the adoption, once again, not the NFTs specifically or their topics, but the big established brands minting NFTs and different things on the blockchain. That is what I'm looking for as an investor in these tokens. Now here's another example. The XRP ledger just set a brand new record when it comes to NFTs. So many of you may recall the XLS 20 update that rolled out about a year ago in October of 2022, which allowed the ability for NFTs to be fully functional on the XRP ledger. And we've seen a lot of adoption. So XLS 20 added the native non fungible tokens to the XRPL, allowing any XRP ledger account to generate own and trade an NFT on the XRP ledger. The standard in introduces native non fungible tokens to represent assets that are each unique, as well as opportunities to enumerate transfer and keep such tokens. Since the introduction of the NFT capabilities, the blockchain has grown dramatically and NFT activity continues to expand. According to Bithom statistics, 1 .9 million NFTs have been minted since the launch of XLS 20. A total of 29 ,584 accounts currently own over 1 .65 million NFTs. The amount of over 1 .28 million NFTs was transferred or sold. On its official X account, Bithom reported these statistics in celebration of NFT day. And here's the tweet with all the statistics. So really great to see this is happening on the XRP ledger. Obviously, it's happening on multiple blockchains. But folks, whether once again, you hold any NFTs or not, this is part of the future. But once again, we want quality, not bullshit, right? Because there have been a lot of scams, a lot of issues. The NFTs actually have to have utility. And that's the key to unlock exclusivity, additional experiences and much more. Now, quick word from our sponsor, and that is Uphold, which makes crypto investing easy. I've been using Uphold since 2018. They have 10 plus million users, 250 plus cryptocurrencies, and they're available in 150 countries. You can also trade precious metals and 37 national fiat currencies on this platform. You can easily swap between all three. So if you'd like to learn more about Uphold, please visit the link in the description. Now we have some very big news around crypto funding. And I like to look at this news because it gives me an insight into what investors are investing in, who's raising capital, maybe some of the TradFi incumbents coming in, right? And this is important news because that capital will be deployed in the market. So Blockworks, they usually do a weekly crypto funding roundup. They said crypto funding startups raise $115 million across gaming, custody and institutional services.
Coronavirus
A highlight from Proposal For Celo To Launch On Polygon CDK
"Welcome to your Ethereum news roundup, here's your latest for Friday September 22nd, 2023. Polygon proposes for Celo to build on Polygon CDK, Uniswap wallet integrates MEV blocker, Quintus taking V2 goes live, and a vote goes live to deploy Aave V3 on Polygon ZK EVM. All this and more starts right now. The Arbitrum on Gitcoin Grants is now live, if you'd like to support this podcast please consider contributing by visiting ethdaily .io forward slash gitcoin. Polygon co -founder Sandeep Neewa published a proposal seeking for the Celo ecosystem to consider the deployment of its Layer 2 solution as a ZK power chain using Polygon CDK. The transition would provide Celo with EVM equivalent compatibility, enhanced security through ZK proofs, low -cost transaction fees, and interoperability with other ZK power chains. Neewa also offered implementation partners to support CeloCore developers in deploying a CDK -based chain. The proposal comes after Celo Labs released its own proposal to transform its Layer 1 network into a Layer 2 based on the OP stack with EigenDA for data availability. Celo is an EVM -compatible Layer 1 chain focused on payment infrastructure. Uniswap Wallet integrated swap protection as a default feature on all Ethereum mainnet transactions. Swap protection shields users from frontrunning and sandwich attacks. The added protection layer may result in a slightly higher auto -slippage for certain swaps to help increase the chances of a successful transaction. The swap protection feature is powered through the MEV blocker RPC endpoint from Calprotocol. MEV blocker directs user transactions to a private mempool and even refunds users a portion of MEV generated from their transactions. Swap protection is only available in the Uniswap Wallet mobile app. However, users can add the RPC endpoint to their desktop wallet. Users can disable the feature if desired. Quenta launched Staking V2, an upgrade to a new set of smart contracts that introduce a checkpoint system for tracking staked balances. The upgrade introduces the ability to transfer escrow entries, a two -week cooldown for unstaking, support for smart contract -based staking, early vesting, and automated reward compounding. Quenta V1 stakers are required to manually migrate their positions to the new V2 contracts in order to continue receiving rewards. Only Quenta staked in the V2 contracts will count towards style voting power. Quenta is an optimism native perpetual DEX built on synthetics. And lastly, a snapshot proposal to deploy Aave V3 on Polygon CK EVM is now open for voting. The initial deployment seeks to support Raped Ether, Raped Matic, and USDC as collateral for borrowing USDC. The deployment aims to expand Aave's presence across Layer 2 networks. Polygon CK EVM is an EVM equivalent ZK rollup with just over $18 million in total value locked. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io. Thanks for listening, we'll see you on Monday.
Ethereum Daily
A highlight from Proposal For Celo To Launch On Polygon CDK
"Welcome to your Ethereum news roundup, here's your latest for Friday September 22nd, 2023. Polygon proposes for Celo to build on Polygon CDK, Uniswap wallet integrates MEV blocker, Quintus taking V2 goes live, and a vote goes live to deploy Aave V3 on Polygon ZK EVM. All this and more starts right now. The Arbitrum on Gitcoin Grants is now live, if you'd like to support this podcast please consider contributing by visiting ethdaily .io forward slash gitcoin. Polygon co -founder Sandeep Neewa published a proposal seeking for the Celo ecosystem to consider the deployment of its Layer 2 solution as a ZK power chain using Polygon CDK. The transition would provide Celo with EVM equivalent compatibility, enhanced security through ZK proofs, low -cost transaction fees, and interoperability with other ZK power chains. Neewa also offered implementation partners to support CeloCore developers in deploying a CDK -based chain. The proposal comes after Celo Labs released its own proposal to transform its Layer 1 network into a Layer 2 based on the OP stack with EigenDA for data availability. Celo is an EVM -compatible Layer 1 chain focused on payment infrastructure. Uniswap Wallet integrated swap protection as a default feature on all Ethereum mainnet transactions. Swap protection shields users from frontrunning and sandwich attacks. The added protection layer may result in a slightly higher auto -slippage for certain swaps to help increase the chances of a successful transaction. The swap protection feature is powered through the MEV blocker RPC endpoint from Calprotocol. MEV blocker directs user transactions to a private mempool and even refunds users a portion of MEV generated from their transactions. Swap protection is only available in the Uniswap Wallet mobile app. However, users can add the RPC endpoint to their desktop wallet. Users can disable the feature if desired. Quenta launched Staking V2, an upgrade to a new set of smart contracts that introduce a checkpoint system for tracking staked balances. The upgrade introduces the ability to transfer escrow entries, a two -week cooldown for unstaking, support for smart contract -based staking, early vesting, and automated reward compounding. Quenta V1 stakers are required to manually migrate their positions to the new V2 contracts in order to continue receiving rewards. Only Quenta staked in the V2 contracts will count towards style voting power. Quenta is an optimism native perpetual DEX built on synthetics. And lastly, a snapshot proposal to deploy Aave V3 on Polygon CK EVM is now open for voting. The initial deployment seeks to support Raped Ether, Raped Matic, and USDC as collateral for borrowing USDC. The deployment aims to expand Aave's presence across Layer 2 networks. Polygon CK EVM is an EVM equivalent ZK rollup with just over $18 million in total value locked. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also subscribe to our newsletter at ethdaily .io. Thanks for listening, we'll see you on Monday.
The Bitboy Crypto Podcast
A highlight from Bitcoin PUMPS on Bullish Europe Inflation!
"Hey, everybody. Let's discover crypto. I was seeing if it was going to come back in a camera frame. It is Tuesday, September 19th. It's 11 .33am. Thank you for joining, everybody. We got AJ and Drew on the 1s and 2s. How are we all doing today? Another day in the life. It's Tuesday. Okay, okay. I thought that said XRP for a second. No, that's EXP. Express. Yeah. Okay, okay. That's what I'm wearing. That's what I'm wearing. It's today's show brought to you by Express. Nice. You know it is brought to you by the Express conduit of information flowing directly into your brain. That is discover crypto. We also got Drew on the on the board here. Now, Drew, you were late today. You're looking for a F -35, right? Yeah. No luck. No, no luck. There is a debris field in South Carolina. I don't know if you've seen that. You know, it's kind of just incredible that you act like you can lose an F -35. You know that. I mean, you've got to assume that there's some tracking systems on one of the most advanced technologically advanced hardware. No, it has stealth capabilities, and they turn it on. It's like I understand, like, you know, losing your sunglasses. Yeah. You know, I understand losing your wallet or your cell phone or like my ID on a plane that has happened. But to lose an airplane, I don't know, man. It doesn't add up to me. Where are you at? So it is like they lose three million dollars on a seed phrase or a hard drive in a landfill. Right. That's easy to lose. That's easy. Yeah. It's you know, it's this small, you know, it's in a gigantic landfill. Yeah. No, we have something like cruising around. I've heard that NASA, they can track everything bigger than a football. So that probably means everything bigger than a softball. Pretty much. Yeah. Well, you know, the Pentagon does lose trillions of dollars at a time from here and there. So it does happen. I know that they misplaced trillions of dollars. Things happen. DN says they have one for sale. I don't know if you guys saw that. Was it Craigslist ad? And it was like F -35, I have to move this thing fast. You know, it's like in South Carolina. It was pretty funny. That's hilarious. Guys, make sure you are sub to the channel. We putting out the lives, putting out the shorts, putting out the videos on the regular AJ. What is your next price prediction? I think I'm going to do it on Casper. I've had a lot of people asking me about a Casper video, just so many because, you know, it's. But the thing with this video is that with the all the other videos, I can go back and like look at, you know, all the previous price action, the previous dominance levels, the previous market with this. It's like, here we go. It's basically just a video on its tokenomics and a range of like what's going to be possible with its market cap compared to other coins that are doing a similar, you know, kind of thing that they're doing. So I'm excited to dive into it. Haven't done it yet. Probably going to film Thursday. Well, make a price prediction video where it goes to a penny so that I could buy a bunch. But speaking of prices, let's look at the crypto prices for today. It looks like the markets are maybe slightly edging up. We're going to go ahead and refresh this just to make sure. Yeah, it is a slight movement to the upside here. 0 .3%. We have 24 hour volume coming in at 38 billion dollars. Bitcoin dominance. I think is up 0 .1. It was 47 .3 is now 47 .4. And we have gas really, really low coming in at 18 gwei. Bitcoin is up slightly 0 .6%. So not a whole lot. The one hour candle is bigger than the entire 24 hours. So we went from negative into the positive in the last 24 hours. Ethereum still playing catch up, still down slightly. BNB down slightly. Lido staked Ether down slightly, but Cardano up above 1 % and Dogecoin up above 1 % and Solana up exactly 1%. Matic 2 up .2%. Polkadot, I think it got a little bit of bad news lately, right? It's down 1 .1%. All these are not really moving too much. We have Chainlink cooling down. Cooling down, it was, you know, close to 10 % now coming in at 1 .6%. So 15 % for the week. What about the biggest gainers? And guys, I haven't checked this and today I have a good feeling. Today, none of my coins are going to be in the top losers. How do I know? I don't know. I'm just trying to manifest it because I think this is a simulation. If I say it and I believe it, I'll make it happen, everybody.
Crypto Curious
A highlight from 96 - Token2049 Highlights, Binance's SEC Showdown, Yuga Labs Update & Friend.tech on roids!!
"One of the big questions is - What is money? For practical purposes, it exists in a series of heterogeneous databases, very different databases. Do you believe in crypto? Digital currency may be an answer, but it is a highly respectable disaster. I'd go on Bitcoin. There is no second best. Welcome to the Crypto Curious podcast, proudly brought to you by the Bamboo app. Crypto Curious is your go -to source for all things cryptocurrency. Whether you're a seasoned pro or new to the world of crypto, we've got you covered. Each week, we'll break down the top news stories of the past seven days, giving you the information you need to stay on top of the latest trends and developments. Plus, we'll share quick bites of news and insights that you won't want to miss. If you're new to crypto, we recommend starting in our early episodes, where we break down the basics and give you a solid foundation to understand the crypto world. Join us as we explore the ever -evolving world of cryptocurrency and educate ourselves along the way. On today's episode, we'll give you a complete rundown on the token 2049 event that Blake and I attended in Singapore last week. Sneak peek, it was pretty amazing. Then we'll get into a number of big stories over the past few weeks, including Yuga Labs producing a movie, Binance are in hot water again, the Friend Tech field day, and we can't miss out on more FTX shenanigans. So stay tuned. My name's Tracey, and I'm joined by my pals, Blake and Craig, as we catch up on the crypto news. Hey guys, how are you going? Very well, Trace. Back in the swing of things this week. How are you? Yeah, good. After a week off. Did you miss us, Craig? Yeah, sure. No. That convincing. was I got an extreme FOMO from the group chat photos that you were sending and the talks that you guys went to that looked like a lot of fun, and I wish I went, but maybe next year. Yeah, definitely. Definitely next year. Maybe we should just dive straight in then and talk all about the token 2049 conference, which is the largest annual digital asset events in Asia and Europe. And this year it was bringing together the leading voices and the most sensational projects in Web3. And we did. We had an awesome time. Singapore is amazing. It was my first trip to Singapore. And Blake, give us your initial impressions and what you loved about the event. Yeah, so this is probably the biggest crypto conference in Asia, really. And I think about 10 ,000 people came to the main event itself, but then there were also about 400 side events, more than you could pick, or even too many, too many, really. And really, I think it's an industry focused event. You know, there weren't that many retail investors coming along. Tickets were priced accordingly. And yeah, it was an incredible event. They brought the who's who of the crypto industry to speak, talk about where the other projects are at and what the future looks like, the state of regulation and where we are in the market cycle. And it was fascinating to be there learning and hearing about how everyone else in the industry is thinking. And there was certainly no indication of us being in a bear market. My God, no, it was money, wasn't it? It was out of control. You know, the big exchanges were, were splashing cash around. The Formula One was on at the same time. So lots of people added a bit of excitement, didn't it? Yeah, we're coming over for that. And yeah, we could probably, you know, maybe give us your high level thoughts, Trace, and then we can get into a couple of the interesting things that we learned. Yeah, look, I think it was a really vibrant atmosphere. There were some excellent speakers. I was impressed with the setup. And the event ran really smoothly trying to get 10 ,000 people in over two days. You know, you'd expect a few hiccups, but there wasn't. I thought it was pretty, it was pretty well done. You know, there was a real big emphasis on, on building. And like you said, you certainly didn't feel like you were in a bear market at all. There was just money being splashed everywhere. Lots of giveaways, you know, certainly went trying to get a bit of merch to make Craig feel jealous. Definitely got a few to pop into the chat. What about the talks, guys? Like, which one was your most impressive project, most impressive person that you saw? Yeah, there's a couple that really stood out for me. Firstly, there was a talk on stablecoins, looking at the data and the adoption rate. What was really interesting is that you're even through this bear market, the stablecoin adoption rate has is increasing as you know, the crypto prices go down and less activity happens on chain and on exchanges. And this is really pointing towards the utility of stablecoins and what they're going to mean for the future. And importantly, what was recognised in that talk was that in the US, US -based stablecoins are being used less and less and offshore and algorithmic stablecoins are being used more and more. And this is really because of the regulatory pressure in the US market. People don't want to interact with US businesses, essentially. And, you know, probably the second most interesting talk that I saw was, you know, the founders Yeah, that was my favourite. Yeah, that was interesting. I didn't think I'd love it as much as I did. But I think me and you both sat there and was like, this is really interesting. Yeah, we had the founder of Polygon, the founder of Arbitrum and the founder of ZK Sync. You can see that the ZK Sync group, probably the most technologically advanced and that's a scaling solution that uses zero knowledge protocols on top of Ethereum. And yeah, definitely the most advanced, you know, scaling solution on top of Ethereum. Secondly, your Arbitrum is very focused on research and creating a really great product that anybody could use. And of course, Polygon's focus is on business development and getting adoption from web two companies. So coming at it from three very different angles there, but all for the same purpose of increasing adoption and scalability of the layer ones. I really like that layer two talk, but much like a music festival, you had to pick who you wanted to see because they're all overlapping. There was, you know, there was a main stage upstairs, another one downstairs. There's a few different talks. I ended up stumbling into the Neo founder, do his chat, which was really interesting. I quite liked that one. And for everyone's information, Neo is a layer one blockchain that was founded in China, very much focused on, you know, being an Eastern kind of competitor to Ethereum or so on. You guys remember the Chinese Ethereum narrative and it pumped Neo like 200X? Been around for a long time. Yeah. So you just kind of, but there was a lot of stans, a lot of people, you know, shilling a lot of different things and, you know, you could kind of get lost there for a while. There was a strong push for mainstream adoption through Web3 and gaming. And I think that was on a lot of panel discussions and a lot of side events were also pushing that. I know Animoca Brands had a lot of big events as well. So I think that was a big focus also. I think we didn't get to see him, but Robbie from Immutable was over there speaking as well. Now, was there one project that you didn't hear of that sort of came across a token at the conference? Like, was there a project that you put into your watch list? Not really. Just the big dogs just reinforcing there. Yeah. Just talking about where the innovation is moving, you know. And one thing that really stood out to me is that, you know, the regulation conversation just isn't that prominent in Asia because the regulation in Asia, the regulation in Asia, there's no issues. And, you know, I think that we can easily have a US -centric point of view sometimes. But in Asia, they're ready to do business there. You know, there's lots of investment happening. There's lots of deals happening. There's lots of growth happening. And some of those stories we'll talk about in today's episode. All in all, the event was memorable one for us and worth attending for our team. And it really did reinforce, you know, our love for the industry and just how far we have all come. And so if anyone's referenced token 2049, the next event will happen in Dubai in early 2024, in April, I believe. So you can check that one out. In April? That's only like six months away. I know. I did say to Blake that I thought that was quite soon. I think they have multiple events. You know, they have them in different regions. There you go. Well, I'll go to that one for the crypto curious community. I'll fly the flag. Cheers. Now, folks, we're going to mix it up a little bit this week, and we're going to cut out our short, sharp news bites at the end, and we're going to go to a few biggest stories because, as you know, we missed our show last week. So we're going to cover off a few biggest stories, starting with Franklin Templeton, a large asset manager who has joined the race for the holy grail, the Spot Bitcoin ETF. As we've previously reported, the aim of many of these leading institutions applying for ETF is to attract large institutional investors, which could potentially bring trillions of dollars into the crypto industry. So Franklin Templeton's ETF will be based on a mix of crypto exchange Bitcoin prices to deter price manipulation. So just another big boy entering the space and solidifying the general thesis that it is inevitable that this Bitcoin Spot ETF will happen. There you go, boys. What else are we going to catch on that's happened in the last few weeks, Craig? Yeah. So last week Vitalik, the Ethereum founder, he had his Twitter or X account hacked, and he shared a malicious link, and it actually led to just under $700 ,000 that was drained from people's wallet. So it was just a scam. People connected their wallet, got drained. But it was coming from his official Twitter. Right. Okay. This was due to a SimSwap attack. Right. These big dogs, even they get hacked. So stay on it. Stay safe, everybody. Yeah, we had that story a couple of weeks ago where your people's private keys were being stolen from their password manager, which had a vulnerability. So even when you're doing best practice activities, you know, sometimes you're still not safe. Can't trust anything. All right. Next up, we have a story that came out on the 13th of September. So received FTX approval from the US bankruptcy court to sell and hedge its crypto holdings valued at $3 .4 billion. That's a lot of bloody crypto. This is when everyone was freaking out about where they were going to drop their salon. Yep. Yeah. So we talked about Galaxy Digital was engaged to help, which is a big crypto focused asset manager to help the liquidators or the administrators sell down these assets. So what they have is $1 .16 billion worth of Solana and they have $560 million in Bitcoin and the rest in other tokens. So, you know, this is a little bit concerning. I think the Bitcoin market could probably absorb, you know, the sell down of $560 million of Bitcoin over, you know, a period of time. But what's the market cap, Craig, of Solana? Well, Solana is still, you know, in the billions. Let me just fact check. They can't sell all the Solana at once or it's going to be $9 .2 million of Solana released for them to sell every month, which I think is fine. So not all the Solana will be dumped in the market, but they have an $8 billion market cap. Yeah. And Solana did take a bit of a dump. I think it dumped around 5 % off this news. It's about 20 % of 15 to 20 % of Solana's market cap. But if they're smart, they're going to do this strategically over time anyway. Yeah, well, the three biggest holdings are Solana, Bitcoin and Ethereum. And then the other ones I've got is APT, Updos, Doge, Tron, Matic, Ripple and BNB. Very minuscule amount of BNB. So, yeah, this caused a bit of a shakeout, didn't it guys? Yeah. But, you know, I'm sure that they'll work on a strategy to release those tokens back into the market over time. I will potentially suppress price, but, you know, hopefully not for too long. Next one. This has happened over the last four or five days. The SEC has gone after the Stoner Cats project. I remember this one from a few years ago and mainly for its connection with Mila Kunis and Ashton Kutcher because it was, you could buy the rights to, it was a TV show, a cartoon Stoner Cats show. I think they only produced a couple of episodes and Mila and Ashton were the voices of the Cats. I think Jane Fonda was also one of the voices. So the SEC has charged a project for conducting an unregistered NFT offering that raised $8 million and one of the arguments the SEC used was that the entire, the entity promoted the potential for its NFT prices to increase in the secondary market, similar to all NFTs. So Stoner Cats agreed to pay a $1 million penalty and to destroy all NFTs in its possession, but they did not have to admit that it was guilty of the charges. So setting precedent there, so I'm not sure if that was the best way to go for them. And the SEC, you know, are really going for different projects at the moment. This wasn't the first one in recent weeks. So one to watch here, I know Elliot from our marketing team, who you guys see sometimes on our Instagram page, sent an article around talking about the SEC going after NFT projects and Guy from the Coin Bureau also made a big statement about it recently that he's slightly concerned. What are your thoughts, Blake? Well, I think there's a big lesson here. Don't sell cryptographic assets to Americans. Stay the hell away and you'll be fine.
Simply Bitcoin
A highlight from BREAKING: Bitcoin Ban Gathers Momentum in the US | EP 827
"It's all going to zero against Bitcoin, it's going up for everyone, you're against Bitcoin, you're against freedom. Yo, welcome to Simply Bitcoin Live, we're your number one source for the peaceful Bitcoin revolution, core breaking news, culture, and matic warfare. We will be your guide through the separation of money and state. We got a lot of comments starting off basically saying click bait title ugh, someone else said FUD, no, not at all, not at all, especially if you guys, Denver Hoddle said FUD, no, not at all. If you guys have been tuned into this channel, we've been like surgically covering all the moves by the Biden administration, the moves by the anti -Bitcoin senator, Senator Elizabeth Warren, and yet they don't like Bitcoin, they don't want it to succeed. Bitcoin succeeding would mean that they would lose their privilege of being able to create money for free that everyone else has to work for. I think the worst thing that Bitcoiners could do is think that Bitcoin's going to win by default, right? This is an adoption race, this is about getting the people around you to understand and to wake up to the fact that it's not left versus right. It is green, the party of green versus the party of orange, the party of state currency, the party of central bank digital currencies, the party of inflation, the party of nihilism, the party of slavery versus the party of Bitcoin versus the party of orange versus the party of freedom, Bitcoin, prosperity, opportunity, optimism. So, yeah, it's not BS at all. And today we're going to cover the fact that Senator Elizabeth Warren's bill, so -called the Digital Assets Anti -Money Laundering Act, got nine new sponsors. This is a bipartisan bill. This is a Republican and Democrat bill that's being pushed in Congress, in the Senate specifically, that Pierre Richard would literally, literally said this is not simply Bitcoin or Nico's wording. He literally tweeted, if this bill passed, if this bill would pass, this bill would ban Bitcoin mining in the United States. And I would even make the case that the bill would basically ban Bitcoin in the United States. And that's exactly what the bill was designed to do. Make no mistake. So, yeah, you can like, you know, push it aside and say this is FUD, you know, this is you know, this is this is bullshit. This is a clickbait title. This is the separation of money and state. Take it seriously. There's a lot of vested interest that it's not convenient for them if Bitcoin wins. They want you under a central bank digital currency. They want to control what you think and what you say and what you do. And one of the most effective mechanisms to do that is by controlling money. If you control the money, you control the incentive structure. That's exactly what the whole social credit system is all about. Right in China. So, you know, if you talk against the state, you know, they take a percentage of your money right out of your paycheck. They don't allow you to travel. They don't allow you to sign your kids up to certain schools. That is a forcing function. And that is no longer theoretical. This has happened in the West already. I feel like people have just forgotten about the Canadian truckers protest. They literally froze people's bank accounts because they were protesting the government because of the lockdowns.
Bitcoin & Crypto Trading: Ledger Cast
A highlight from Is crypto dead?
"Hello, welcome to Leisure Cast. My name is Brian Farsgaard here with the one, the only Josh Olsowich. Hey, Josh, Brian, how are you? I'm doing great. How are you doing? Good. It's hoodie season back in my natural form. This is my favorite time of year. The crowd wants to know, not because it's tax filing season, but because it is not miserably hot anymore. That's true. It was 90 upper 90s here last week. It was nuts. Oh, that's hot. Yeah. Yeah, no, I love it because the humidity calms down. Yeah. Temperature calms down. People get back from their summer breaks and maybe they start trading. I don't really care about that part. Oh, you're in the deep south because you got that gross, gross heat plus humidity. Yeah. So I need this break. I need this break. I love this season. Football is back. I know you care about that a lot. Huge fly Eagles fly. That's what they tell me to say. They say They here. played quite well last night. I did. I watched a bit of it. They did play well. Yeah, football season, playoff baseball. I mean, fall is really the greatest time. The changing of the leaves eventually. We won't get that for a little while, but we have much to be thankful for. Thanksgiving. Speaking of thankful, that's not too late. We have much to be thankful for, Josh. Bitcoin does well on Thanksgiving, historically. Well, could have fooled me this month. Look, we might be grasping at straws here, but there's not much else to talk about. Not much is going on right now. Everybody's just kind of waiting for a bunch of things. Yeah. And we're just in limbo here. You know, the old trusty 200 week is one with the price. Ethan BTC. We're just basically the average of... We're below it, though. What if this is the historic high ever for the 200 week? What if it only curls down below it forever more? That would be pretty bad. It's certainly a sign of being sideways at best when you're hovering around all the moving averages of whatever sorts you want to analyze. There's really not a lot to say on Bitcoin. I think the market is so thin in both directions that we are one headline away from a 10 % day one way or the other. Something bad goes down with an exchange that rhymes with... Finance. Let me see if I can find a word, Josh. And, you know, that's the negative 10 % day potentially. But if we get that BlackRock ETF, maybe... We're gonna be saying that for like six months. It'll just be around the corner, guys. Just wait another few weeks. BlackRock's gonna come save us, guys. Not a place we want to be, you know? The same thing with halving. You don't want to be the central focus, even though that's how it's been historically. This is no different than 2020, 2016. It's no different. It's just, you know, same stuff, different day. It's got to be boring, even in the good times. Even when there is another cycle, historically there has been. There's still loads of time that's just boring where people get sucked out of the ecosystem, lack of paying attention, etc. Hey, Josh, I want to give a shout out. Thanks, RedScrutinizer, for bringing it up early in the show. We usually mention it towards the end that Josh does videos. But Josh does videos, and you should check them out at Carpe Noctem on YouTube. Carpe Noctem. I don't know how to spell it, so I'm saying it. Yeah, that'll help. People have no clue. It's N -O -C -T -O -M? There you go. You know what I randomly looked today at our... This has turned into a podcast of a podcast, but I looked at our reviews on some podcast stream, and it was over four and a half stars. I was like, oh shit, we got... People like us? I guess so. I don't know. I will say there has been a steady crew who have watched and listened to this show for like six years. It has been six years, Josh. They've tolerated us for quite some time. 18, 19, 20, 21, 22, 23. We started in 17, so six years. Six years you've known me. I've owed you a stake for about three. It's true. That's very true. Yeah. Thanks for being here, y 'all. Appreciate you. Even when it's really boring, how can you possibly make money when it's not boring if you can't be here when it's boring? Well, look, there's two things you can do. You can learn about the tech, which might sound cliche, but I did a lot of my Bitcoin learning in 2015, 2014. You know, there's not all those damage else to do, then like to learn what the hell's going on with this stuff, right? Drink the Kool -Aid, get indoctrinated, whatever. That was the time. Look at some of these long timers in the chat, Karen, Callie. We actually met in person one time even. She's been here for most of the time since we've been recording. I like this one. I like you, but I also hate you since 2019. Thank you, Liam. We will take it. You know, the thing is we have very little agenda other than our own bags, but we're just talking about our thoughts about them here. We're not trying to convince you to buy them or sell them or anything else. We're just discussing it and y 'all are here because you decided to listen to conversation. So there's very, very, very little opportunity to be victim to our terrible words. Well, hip hop is right. The best content does come during the bear market, I think. Yeah. So anyway, back to price. Yes, I've been DCA for months. I could care less with prices. The lower it goes, the happier I get because that means I get more BTC. If it goes below 15, sure. I don't care. I'm not worried about, we've talked about this for weeks, but if we're below 15 and it's 2025, then we're in trouble. But if we're boring and oscillating between 23 and 30 for the next six months, I'm not worried about it personally. 23 and 30 would be great. This drive chain nonsense is exciting me because governance debates historically have been bullish. If nobody cares about what you do with the chain, then it's not a good chain. Sure. Yeah, I agree. The ultimate crazy shower thought is where does BlackRock, how do they vote on the fork? Are people actually talking about a fork? No, but let's say it comes to that. I'm not talking about the most likely scenario here. I'm talking about a potential scenario. I'd assume they'd vote with the miners. I'd assume they'd vote for it. I don't know. There was something in the prospectus about forks for the BlackRock ETF. I can't remember exactly what it said, but yeah, I don't know. That'd be interesting. If that comes to pass, I don't think it will, but something to think about way down the line. Yeah. Zero X, lots of vowels says ESG fork. I don't know about that. I don't know about that. Fink has really backed off the CEO of BlackRock. He's really backed off of the ESG narrative. And if anything, we're getting a lot of press on the side of Bitcoin being ESG friendly. So it's really... Grid stabilization. Yeah. It's really changed after that. I think the New York Times piece was the bottom of the dirty Bitcoin narrative potentially. I think grid stabilization has to exist though. They have to figure out how does this not just waste energy, but how does it create stability? How does it use renewables? You have to push into those things really hard because otherwise I personally feel like proof of work feels kind of pointless if it's not just work, but it's also waste. Proof of work that's not waste, I think is fine. Well, you're securing the assets. What are the values for all of the banks globally? I know, but proof of stake is also doing a pretty good job of securing the assets. Proof of stake has yet to prove itself. It hasn't been a successful proof of stake chain since existed. it's We haven't seen Ethereum proof of stake in a bull market and it hasn't done so hot so far. So it needs time to prove itself. That's all I'm saying. Look at any proof of stake coin historically, and they don't do well for whatever reason, they do not do well. I'm not saying it's not secure. I'm just saying, look, it hasn't done well. Yeah, undeniable. I'm not sure about that. Let's pull up CoinGecko. You tell me which. EOS? Has that done well? Oh, come on. I'm talking about will Ethereum do well with proof of stake? Yeah. Okay. But I'm saying we can't just assume ETH is going to do well because it's ETH. It's changed its security model. It's changed the yield component. It hasn't proven itself yet in my eyes. That's all I'm saying. Neither has Solana, neither has Tron, Cardano, Dot, Matic. All this stuff hasn't really done anything or gone anywhere. Five years ago, we had a list of other 10 proof of stake coins that didn't do anything. I maintain this philosophy of Bitcoin versus Ethereum, wherein the variability of Ethereum is okay. It does change. It does have governance adjustments, but it's still pretty Chad -like. BTC, you know what you get. It can be good, but you just know what you get. That doesn't make Ethereum bad. Alts should have higher beta to Bitcoin. They're just riskier. And that's where all the stupid stuff happens. So yeah, there's the Lido issues with these. But there's issues with every proof of stake coin. Historically, they just don't do well over time. That's all I'm saying. There's issues with miner centralization as well. Of course. But miner centralization issues are very similar to the staking centralization issues. Similar, but I wouldn't say the same. All I'm saying is if you're drinking the ETH Kool -Aid, I don't care which side of the debate you're on. I'm just saying find one proof of stake coin that does well over time. I haven't seen it. I have not seen it. Ripple doesn't count. Doge doesn't count. Litecoin doesn't count. You will, don't worry. I hope ETH is the first one. But we just haven't seen it. That's all I'm saying. Yeah. ETH BTC appears to just want to keep going droopy sideways down. I don't know if we call this a direction or not. I mean, that is a downtrend over the last year, one year of downtrend. But it's not like puke -y. You want to hear a crazy thought? Bitcoin's having will be more bullish for ETH than it will be for Bitcoin. Sure. I don't think that's that crazy. It's down 23 % in a year, ETH BTC. Relative to previous bear markets, that's not much at all. 80%. Suzanne's got time. Or I'm saying we've created some stabilization in these asset ratios. I don't know. Well, it doesn't look bullish, but it doesn't look turbo bearish. You know, it looks neutral. It looks like it's ready for lows. It doesn't look like it wants to go higher, that's for sure. But would you expect it to? It's not the coin that's getting an ETF. It's not the coin that has all the flows. ETH? Yeah. Oh, dude, the first thing you do once the Bitcoin ETF is announced is assume the ETH ETF is on the way. Right. We've talked about this, that the best news for ETH is, of course, a Bitcoin ETF. Who cares about Bitcoin, right? That's fine. I'm not going to disagree with you. But I'm saying in the moment, the flows are just not going to come to ETH first. ETH will have its day. There's no doubt ETH will be at 10K. Clip it, chat, clip it and ship it. Talk to me in 2025. ETH BTC may do super well. It may go to 0 .1. But over time, it has not done well. I do like T -Bells flip mode. ETH. I think most of the civilized universe likes T -Bells. ETH to 10K is where you lost me. Not because... Is that too low? No, no, no. Not because I was unhappy. I was euphoric. Okay. That's all I need. Just little ETH to 10K action, Josh, and sunset. We ride off into it. That's all we need. You know what else I was thinking? What's that? It's the constant thought of these institutional products. Are they going to offer a yield component? Eventually, they should. I just don't know if that's baked in to the initial applications, right? Yeah. Shouldn't probably be baked into the initial applications. Why not? What if you have BlackRock, you know, take over Lido? What a crazy thought that is, you know? It is a crazy thought. Then we really get to see how good Proof of Stake is. Yeah, I just got excited. I think we need to think like that because of the institutional influence that's clearly going to be here eventually, right? What's going to happen when OFAC compliant BlackRock takes over ETH, you know? Same thing with Bitcoin. They're buying miners. They've got influence on all sorts of stuff. Just something to think about long term. Yeah. I don't think we've really seen the wars that will exist, like have looked puny compared to the wars of the future. No, I don't think we'll have BTC staking. But I don't know. Things could get wild, right? Absolutely wild when the most important asset manager on the universe is in our backyard all of a sudden, you know? Yeah. I want to talk about the dollar. But first, there was a ruling this week where there were two dissenting opinions in crypto's favor. But I don't remember what the ruling was on. Do you remember? I thought one was for Uniswap, but that was two weeks ago. No, it was about the Stoner Cats thing. NFT stuff. As an NFT person, what are your thoughts on that? I think a lot of NFTs played like dance real close to the fire. But at the same time, I think it's really interesting and encouraging to see SEC commissioners write these dissenting opinions and making pretty direct correlations to things like Star Wars collectibles of the past. Like, for someone to purchase a Star Wars collectible and think that, okay, this might be valuable in the future is not an unreasonable thought. That does not make it a security, you know? That said, I don't know that I would say like Stoner Cats or many other NFT projects were like in perfect compliance with what they were doing, too. Like, they might have been going a little hard on the, hey, a number might go up thing versus like... They were a product of their time. Versus enjoy the cats, you know? You buy it for the quality of the art.
Coronavirus
A highlight from Developers Add Two More EIPs To Dencun
"Welcome to your Ethereum news roundup, here's your latest for Thursday September 14th, 2023. Developers add two last minute EIPs to Dankoon, Frame unveils its Ethereum rollup focused on NFTs, Aztec introduces a private smart contract framework, and Polygon announces a phase 0 frontier upgrade. All this and more starts right now. Ethereum core developers agreed to add two new EIPs to the Dankoon upgrade. EIP 7514 adds a max epoch turn limit on staking deposits, effectively capping the validator activation queue. The change aims to address issues related to the rapid growth of the staked ETH supply and the strain on the consensus layer. It also provides developers with time to design a more robust solution. EIP 7516 will add a new Ethereum opcode called blob base fee. The opcode allows rollups to retrieve the blob base fee value of the current block, which is used to calculate blob data usage costs. Client teams also pushed back the deployment of a 9th DevNet by an extra week to implement the changes. The Dankoon upgrade is anticipated to go live on Mainnet as soon as Q4 of this year. Frame introduced its Ethereum rollup chain with a focus on NFTs. The rollup is designed to cater to NFT creators and collectors and incorporates features like royalties and NFT delegation at the protocol level. Frame intends to establish a creator fund funded through the network's sequencer revenue, which aims to reward creators and builders within the NFT ecosystem. Frame is currently in the development phase and has not yet been deployed. The Frame development team plans to launch the rollup on an existing rollup stack, such as the OP stack or Arbitrum Nitro. Frame is being deployed by ZeroX Saigar, a pseudo -anonymous blockchain engineer that specializes in smart contract gas optimization. Aztec Network introduced Aztec .NR, a smart contract framework focused on managing private state within Aztec applications. The framework is built on top of NOR, an open -source ZK programming language, and enables developers to create private smart contracts. Aztec .NR simplifies state management by providing templated functions. The framework aims to address complex note management for preserving privacy in smart contract development. It provides functionality similar to Solidity, including state variables, contract addresses, access to context information, and events. Aztec is working on the release of a full development kit. And lastly, Polygon announced a Phase 0 upgrade coined as Frontier to lay out the foundation for Polygon 2 .0. Phase 0 consists of Polygon improvement proposals 17, 18, and 19, which outline high -level upgrades for Polygon Proof -of -Stake and Polygon ZK EVM chains. Phase 0 primarily focuses around four key changes, including the transition from Matic to PAL, making PAL the native gas token, designating PAL as the staking token, and introducing the staking layer to the protocol. The changes don't yet impact end users. The proposed upgrade is currently open for community feedback and is slated for implementation by the end of this year. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also, subscribe to our newsletter at ethdaily .io. Thanks for listening, we'll see you tomorrow.
Ethereum Daily
A highlight from Developers Add Two More EIPs To Dencun
"Welcome to your Ethereum news roundup, here's your latest for Thursday September 14th, 2023. Developers add two last minute EIPs to Dankoon, Frame unveils its Ethereum rollup focused on NFTs, Aztec introduces a private smart contract framework, and Polygon announces a phase 0 frontier upgrade. All this and more starts right now. Ethereum core developers agreed to add two new EIPs to the Dankoon upgrade. EIP 7514 adds a max epoch turn limit on staking deposits, effectively capping the validator activation queue. The change aims to address issues related to the rapid growth of the staked ETH supply and the strain on the consensus layer. It also provides developers with time to design a more robust solution. EIP 7516 will add a new Ethereum opcode called blob base fee. The opcode allows rollups to retrieve the blob base fee value of the current block, which is used to calculate blob data usage costs. Client teams also pushed back the deployment of a 9th DevNet by an extra week to implement the changes. The Dankoon upgrade is anticipated to go live on Mainnet as soon as Q4 of this year. Frame introduced its Ethereum rollup chain with a focus on NFTs. The rollup is designed to cater to NFT creators and collectors and incorporates features like royalties and NFT delegation at the protocol level. Frame intends to establish a creator fund funded through the network's sequencer revenue, which aims to reward creators and builders within the NFT ecosystem. Frame is currently in the development phase and has not yet been deployed. The Frame development team plans to launch the rollup on an existing rollup stack, such as the OP stack or Arbitrum Nitro. Frame is being deployed by ZeroX Saigar, a pseudo -anonymous blockchain engineer that specializes in smart contract gas optimization. Aztec Network introduced Aztec .NR, a smart contract framework focused on managing private state within Aztec applications. The framework is built on top of NOR, an open -source ZK programming language, and enables developers to create private smart contracts. Aztec .NR simplifies state management by providing templated functions. The framework aims to address complex note management for preserving privacy in smart contract development. It provides functionality similar to Solidity, including state variables, contract addresses, access to context information, and events. Aztec is working on the release of a full development kit. And lastly, Polygon announced a Phase 0 upgrade coined as Frontier to lay out the foundation for Polygon 2 .0. Phase 0 consists of Polygon improvement proposals 17, 18, and 19, which outline high -level upgrades for Polygon Proof -of -Stake and Polygon ZK EVM chains. Phase 0 primarily focuses around four key changes, including the transition from Matic to PAL, making PAL the native gas token, designating PAL as the staking token, and introducing the staking layer to the protocol. The changes don't yet impact end users. The proposed upgrade is currently open for community feedback and is slated for implementation by the end of this year. This has been a roundup of today's top news stories in Ethereum. You can support this podcast by subscribing and following us on Twitter at ethdaily. Also, subscribe to our newsletter at ethdaily .io. Thanks for listening, we'll see you tomorrow.
The Breakdown
A highlight from Institutions Are Getting Ready for the Next Bull Market | Weekly Top Five
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Saturday, September 9th, and that means it's time for the weekly recap. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Hello friends, back with round two of the dialogue news analysis show that I've been experimenting with with Scott Melker on Fridays. Still doesn't really have a name. So for you guys, it is just the weekly recap, but on this show, we're digging deeper into a bunch of things that we've covered this week on The Breakdown, as well as some things that we haven't. We talk about Visa's stablecoin settlement program, the FASB changing the accounting rule, a slew of discussions around Genesis and DCG, including Genesis suing DCG, a little bit more ETF talk because it's 2023. So what else are we going to talk about? And then the recent CFTC decisions against a set of DeFi protocols. As always, this content is a little bit more opinionated and analysis versus just what happened. And I think that if I have to sum it up, what all of these stories sort of look like to me or where their common through line is, is entering this phase of final cleanup and preparation and transition from everything that was to everything that will be. You're seeing half of the stories that come out about new TradFi integrations and institutional programs and infrastructure being built, and then half the programs that are about legal battles and cleanup from what happened before. To the extent that there is a shift in feeling among those legal battles, more and more of others and availing themselves of the legal system to actually get better policy made. And so I think net net the trend is towards positivity and the next thing versus being dragged down by the last thing. That said, there is still a lot of cleanup left from last year. So let's dive in and see what you guys think. So it was pretty challenging this week to get down to a top five in my very humble opinion, so much so that I kind of like listed a few honorable mentions here. I am not even in the top five apparently as a jam or JP Morgan moves into deposit tokens for settlements. Stake was hacked by North Korea once again. How can we stop North Korea from hacking us? We have apparently the U .S. authority is an FBI looking into DCG and the IMF saying not to ban crypto. And those aren't even in our top five stories. Pretty crazy week, I would say. But what is is visa taps, Lana and USDC stablecoin to boost cross border payments. Do you want to dig into this for me? It seems that they already were piloting this for quite a while. They've been doing it on Ethereum, but that they've now moved on mostly to Solana because it's faster and cheaper. I mean, I think there's a couple of things that are interesting about this. One is, you know, I think the overarching is Visa just absolutely plowing ahead with the integration of crypto rails as part of its normal course of business. I think what's meaningful about moves like this is that you're sort of moving out of the realm of, oh, it's a cute pilot project for the sake of headlines into this is just another option to settle transactions, which is the core business that we're doing. And I think putting kind of a fine point on that is the fact that this wasn't like I don't believe at least that Visa sat down with the Solana Foundation and cooked up something big. This is just Visa tapping into existing public infrastructure, making a decision to do it, which is exactly what you'd want to see in the normal course of sort of crypto adoption is, again, not sort of headline driven partnerships, quote, unquote, but just integrations of infrastructure. And I think that's that's what we saw here. Yeah, I agree. And Kai Sheffield, who's the head of the Visa side of this, did a great thread on it and said exactly what you just did. You basically said, listen, this is how this thread you guys should take it. This is how Visa works, right? When we settle a transaction, it's between the merchant and the bank. And this is just a better way to do it that we're piloting for anyone who wants to use USDC. They're effectively saying what we've known all this time is that there is a better way to do this, a faster way that eliminates intermediaries and settles even quicker. I mean, it seems like such a layup, but like you said, this didn't require them going to the Solana Foundation or calling a CEO. They just said there's an existing technology here that can make our business better and are adopting it. I think there's just absolutely huge. And yet again, one of those things that's not making noise in this bear market or this crypto winter, whatever we call it, that will be in a year. One of those narratives that we look back on and go, holy crap, Solana is working with Visa and this is how Visa is settling their transactions as we see Solana go up by a few hundred percent. I really think these are going to be meaningful stories in a year when the bull market picks up. I think one of the things that is going to be sort of fascinating to see is Solana has had a real trial by fire, which it was always going to, you know, anytime you have an alt layer one that rises to be sort of the darling of a bull cycle, it has to then go through a bear cycle and see if, you know, was it just venture capitalists taking advantage of a new narrative to make a bunch of money or does it have actual staying power. And Solana had it extra hard because of its association with SAM and FTX and Alameda. And so the fact that you still have people building on it that range from, you know, small projects all the way to sort of Visa, I think is testament to the fact that it's sort of gone through and is working its way through that trial by fire. Yeah, in fact, I mean, from a market perspective, you would think that because of the relationship with SPF and FTX that it was almost beaten down more, obviously, than it should have been and should be one of those that actually has further to rise, right? I mean, the reversion to the mean for Solana when you see the things Ethereum doing and that Matic and Polygon, these partnerships should be tremendous to see. There's still a ton of building happening on Solana. For what it's worth, that's been my assessment of a lot of, you know, we got down to, what was it, you know, 17, 18 ,000 in Bitcoin, you know, sort of the lows post FTX, and we decoupled from the larger macro to the downside. And I think a lot of what we've been doing since then is to some extent finding where the bottom was supposed to be for this cycle, you know, to the extent that there is such a thing. You know, it's always been kind of interesting to see people kind of, you know, why are we at 26 or 30 or whatever it's, you know, my feeling has been that it wasn't necessarily some sort of, you know, big move. It was just that reversion to the mean of, you know, this thing isn't totally dying. And we're back to sort of where the bottom might have been had it not been for catastrophic fraud all over the place. A hundred percent, even if you just look at sort of the four year cycle, we had what would have been the bottom on the chart when, you know, people view that metric in different ways, but where weekly RSI was oversold and all this bottomed around 20. And then all of a sudden we got this sort of FTX black swan, but retraced that across the entire market in just two months. So I really do think that right now, 25K is just sort of fair value. Right. It's where price was before and after Graysdale, before and after BlackRock and before and after sort of FTX. So I agree with that. I think that that means this is just that part of the cycle. Yeah. There's something to be said for people like not being real stressed out about where the price is too, just as a psychological indicator of that. Like, you know, yeah, it would be nicer if it was 30, but at 30, we're getting kind of excited. At 26, we're just sort of hands up shrug. I guess this is kind of where we are for a while. Absolutely. So I think the next story, and I think that this one is one of the biggest stories of the year, actually, is FASB's crypto accounting shakeup could learn more corporate investment. Michael Saylor and others argue for anyone who wasn't paying attention. You've probably watched the show. You've probably heard the nuance of this, but effectively we had Michael Saylor and MicroStrategy buying Bitcoin, sparking the last bull market. I think it's fair to say it was like August 2020, and that led to the massive run up Tesla buying, Square buying. And we saw that Michael Saylor sat down with, I believe it was 2000 CFOs of companies. We were all so excited that February of 2021, he was going to teach them all how to put Bitcoin on the balance sheet. Crickets, right? It absolutely didn't happen. And it turned out that was a result of the way that they had to account for their Bitcoin on their balance sheet, which was effectively to peg it to the lowest point it was during that quarter and then take the loss. And even if it was higher, you couldn't take the game. Well, those rules are now changing in 2025. So I don't think that this is a massive catalyst at the moment, but this opens up just huge potential in the future. Yeah, I mean, it's funny. I love the quotes around this one because the people who are on the FASB were basically like, it's very rare that we get to do something that's incredibly obvious, time saving and right. And but this is that, you know, and that's why it had a unanimous vote. It just the way that it was accounted for didn't make sense before. And to your point, Scott, you know, I don't think this is going to be a theme to any time you start to kind of look at institutions getting involved in some way, there's a temptation to view every story as it should be a bigger deal than it is. But really, it's all about the slow accumulation of normalization. And this is just another part of that. You know, no one is going to make the decision to put Bitcoin or either anything on their balance sheet because they know how to account for it, but they might have come close and not because they didn't know how to account for it or the way that they would have accounted for it didn't make any sense to them. So it's kind of a barrier clearing process that I think is part and parcel of where we are in the cycle as well. That's right. Now, if they want to, they can. And before, if they wanted to, they couldn't unless they were out of their mind and wanted to piss off their board and shareholders. Right. I mean, Michael Saylor obviously here saying fair value accounting is coming to Bitcoin. This upgrade to FASB accounting rules eliminates a major impediment to corporate adoption of Bitcoin as a treasury asset. Like I said, guys, this is a 2025 thing, but this is going to give those CFOs and risk managers a long time to actually consider this. And then James Lavish, I just want to point out, he did an incredible thread on this. If you're looking to have it explained to you, I think in more layman's terms, this is the thread you want to go to. Now, listen, we I think we all are clear on that one. This next story, we had to effectively like rope in five different things because this is everything grayscale at the moment and it's a monster headache, in my opinion. But the first one that I went, I think, went completely unnoticed as part of the Genesis story is they're shuttering their crypto trading desk for the U .S. market. This is their OTC trading desk. I'm going to be honest with you, Nathaniel, I didn't know that they still had a trading desk. Yeah, I think that's why they went unnoticed, because people would have assumed that it was just gone already. Right. But I really thought that in their bankruptcy they had capitulated and that their business had basically wound down. But apparently they were still a major player. And this is important because this is how huge entities largely buy and sell Bitcoin. Right. They're not going on Coinbase and placing a bunch of bits. Michael Saylor might be, honestly, but most of them do this through institutional OTC deaths. And this could leave a gaping hole. I mean, Max Boonen, who I love, said, so Genesis trading stops trading. Why? And no one on crypto Twitter is commenting on it. But at the same time, we see the news. Coinbase begins offering crypto loans to large U .S. institutional investors. That's the other side of Genesis's business. But clearly, Coinbase is coming into is stepping in to try to fill this Genesis vacuum. Yeah, I mean, it is a big loss to have sort of a prime brokerage esque service that, you know, the most notable one totally decommissioned. But at the same time, you know, you have to think that any institution worth its salt, any investor worth its salt, saw the writing on the wall, you know, basically probably as soon as withdrawals started being halted in November and started making other plans. So even if there was still business going through there, you have to think that some of that was starting to shift. It does leave a vacuum, but, you know, nature abhors a vacuum and so do crypto markets. And especially with so many institutions now lurking around the edges of the space, building infrastructure for it, you have to think that that's that gap is going to be filled by more than just crypto native companies like Coinbase real, real soon.
Thinking Crypto News & Interviews
"matic" Discussed on Thinking Crypto News & Interviews
"So once again, the report from the Bitcoin was that Palau sees Ripple stablecoin, yada, yada. So this is why you have to be careful with some of these reports, because there is tribalism and Bitcoin Maxis will put out foot about different altcoins and much more. So it is FUD that Palau has stopped using the XRP ledger. They are continuing to pilot here. And this is straight from the source, right? A guy who works at the Palau Ministry of Finance. So just FYI, guys. Now, we got news here that new US accounting standard for crypto to be finalized by year and companies must separately report crypto assets in their financial statements and can't group them with intangible assets like patents or trademarks. So, folks, as the crypto asset class grows, you're going to see more of the requirements, rules and regulations and how companies can utilize these technologies and assets and how they can report on them. Right. I think that's pretty straightforward. And when I see news like this, it makes me very bullish. You may say, well, Tony, why does this make you bullish? Because it's adoption. And adoption comes in different ways. And that could be rules. Here's how to handle this technology versus we're banning it. You can't use it. You can't touch it. You can't keep it on your balance sheet and all that. Right. You've got to remember that you can look at the dichotomy of these things. And especially if you've been here a while, you know, I've been here since 2016. So back then, you weren't seeing news like this or even 2017. Right. It was all crypto's a Ponzi. It's fake. It's yada, yada. Now those narratives are dead. Now it's, oh, we're filing for Bitcoin ETFs. Right. Here's BlackRock. We're also BlackRock cussing USDC stablecoin reserves and much, much more folks. So the financial accounting standards board on Wednesday unanimously approved new rules for valuing crypto assets in company financial statements. Members of the board approved a standard mandating that companies use fair value accounting for Bitcoin and some other crypto assets. This approach aims to reflect the crypto assets current market value, even if it has recently fluctuated. Some companies wanted exactly this to happen. Both public and private companies will be required to separately disclose their crypto assets in their financial reports, whether they are quarterly or annual. These assets can no longer be grouped with intangible assets like patents and trademarks. Additionally, businesses must account for gains and losses to their crypto assets within their net income. Folks, all good news. And I, when I see this happening and you know that you're not talking about retail folks, you're talking about businesses, right? And there's companies who are holding Bitcoin in their balance sheet. Many who are going to be looking to invest, especially as ETFs get approved. This is the infrastructure being laid for, okay, we know what's coming. We know companies are going to invest in this and there's going to be more adoption. We want, here's the financial reporting requirements and that's music to my ears. Now let's move ahead. Korean finance giant links up with Polygon Labs on tokenized securities. Many of you know, I hold Polygon Matic in my portfolio. I am bullish on it. The BD team at Polygon are incredible. So Marais asset securities, if I'm saying that right, looks to advance tokenization within finance and South Korea through a partnership with the Ethereum scaling architecture builder. So Polygon of course is the layer two scaling solution for Ethereum. Their native token is called Matic. So the move comes as more institutions have launched initiatives in the segment. Polygon Labs is set to be a technical consultant in the Marais asset security token working group. The company's revealed Wednesday, the consortium will focus on building the infrastructure for tokenized securities platforms, as well as the technology needed to issue and distribute tokenized securities. Folks, the token economy is coming, right? I know I've been saying it for years. Everything will run on the blockchain. And we're starting to see that, of course. And Larry Fink, BlackRock CEO just a couple months ago said, you know, tokenization is the future of finance because he knows real estate is going to be on the blockchain with fractionalization. So will bonds, securities, stocks, you name it. It's all going to be in the blockchain and banks and stock exchanges and many folks around the world recognizes, and they're starting to do so. And obviously they're going to use different blockchains here. This Korean finance giant will use Polygon and there's somebody going to use the XRP ledger and some are going to use Cardano and whatever else it may be. And this is where you want to place your bets accordingly and see who's getting adoption, right? Real world adoption. So very big news from the macro standpoint of tokenization. And obviously really great adoption for Polygon and Matic and for the future price of Matic, of course. Now we've got some news around VeChain. Many of you know, I've been holding VeChain for a long time. I still hold it. I think VeChain has a strong use case. They do have real world partnerships and adoption. They're working with some big brands and so forth. And, you know, their goal was to solve the supply chain management issue and remove the friction and the blocks there and make it more efficient. Well, today they tweeted out that they've announced a strategic partnership with Vivo Smart Chain. The VSC is the first blockchain powered by Heartbeats that rewards through HealthFi. So I have not heard about this, but they said VSC is unlocking a health resolution by allowing users to monetize the data they generate from health tech devices daily. Individuals are empowered by their actions and benefit from healthy lifestyle choices incentivized and reward. It's the Web3 way. They said we are looking or we look forward to seeing their native tokens and smart contracts on VeChain opening up the world of HealthFi to VFam and beyond. So this is really great. And, you know, the future will be more equitable. I've said that before with the token economy where you can monetize a lot of the activity people do, whether it's exercise and much more. And it looks like Vivo from saying that right. They're looking to do that. And I think it's going to allow people to earn income and incentivize them to do more activities. Now, we got news here that a House committee will reopen discussions on digital dollar in September or on September 14th hearing following an August recess. Members of the House Financial Services Committee will gather for a digital dollar dilemmas hearing on September 14th. So there are some big hearings coming up. And I actually interviewed Ron Hammond of the Blockchain Association today, and I'll publish an interview tomorrow where we talk about these hearings coming up, especially the ones where Gary Gensler is going to be testifying. And obviously there's going to be the follow up discussions around the crypto bills, such as the market structure bill in the House, as well as the stablecoin bill. So Congress will be back in session and it looks like they're going to be talking about the digital dollar. Folks, CBDCs are coming once again, part of the token economy. But we do have to fight to make sure these CBDCs, including the digital dollar, respects our right to privacy. And it's not being used in a draconian way. We, the people, have to make sure our voices are heard. I'm not saying digital dollar or CBDC should be banned or not good. It's just they open the door for further manipulation and of the public and the masses and taking away people's rights. But they also have tons of benefits. So I want to make sure I'm balanced there and we got to make sure the governments get it right. All right, folks, that's the news. Please let me know what you think. Leave your thoughts and comments below. Hit the thumbs up button. Hit the five star rating on the podcast platforms. Thank you for your support. Don't forget to check out the merchandise store. Link will be in the description where you can buy Thinking Crypto podcast branded merchandise, t shirts, hats, even hashtag fire Gary Gensler gear. Be sure to check that out. Thank you for your support. And I'll talk to you all later.
Thinking Crypto News & Interviews
A highlight from NEW CFTC CRYPTO REGULATION PROPOSAL! LBRY APPEALS SEC - PALAU XRPL FUD, POLYGON MATIC TOKENIZATION
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google or wherever you get your podcasts, be sure to hit the five star rating. It supports the podcast and it doesn't cost you anything. Well, folks, we've got big news coming out of the CFTC. CFTC Commissioner Caroline Pham is proposing that the agency roll out a pilot program to start regulating the crypto markets. Folks, this is great. This is what leadership looks like and how these regulators should be working with the crypto industry. But of course, we're dealing with scumbag regulator Gary Gensler, who has been using regulation by enforcement, has politicized the SEC and really thrown the market into a mess. Right. A lot of entrepreneurs and companies are leaving the United States because they don't have clarity. But we know Gary is corrupt. He's a puppet on strings. He's doing the bidding of his masters on Wall Street. Many of the tradfi incumbents who are getting disrupted are using Gary Gensler. They weaponize them to go after crypto startups to kill them. Right. Not that crypto is going to be killed or crypto is not here to stay, but rather move these startups so that his tradfi buddies can come in and take over. So I tweeted out, this is an awesome this is awesome and what real leadership looks like. And this is reasonable. It's a proposal that makes sense to work with the industry and figure out how things are working with different crypto companies and much more. So let me give you the details of what she's proposing. The U .S. watchdog for derivatives markets could create a limited pilot program for regulating crypto currencies, said Caroline Pham, one of the members of the CFTC. Here's a quote. I'm recommending a time limited CFTC pilot program to support the development of compliant digital asset markets and tokenization, said Caroline Pham, who told or who holds one of the Republican seats on the five person commission in remarks prepared for a Cato Institute event on Thursday. Now, there's some more details here. After holding a roundtable, gather ideas. She said the agency should set up a program for a specific period of time that incorporates many of the components drawn from the past pilot programs, including registration and eligibility requirements, financial resources and other conditions, risk management, products and contract terms and other requirements, including disclosures and reporting. Pham, who leads the CFTC Global Markets Advisory Committee and established its subcommittee on digital assets, has suggested a number of crypto initiatives since she passed her purse, her counterpart at the SEC to host joint crypto roundtables with the two regulators. But the CFTC is led by Chairman Ralston Benham, a Democratic appointee who hasn't embraced an industry friendly posture for the agency. So you kind of have some issues here with Ralston Benham, who's like Gary Gensler, Democrat appointed, and they are doing the bidding of the Biden administration, which has not been crypto friendly, but they can't stop this train. The genies out of the bottle, they may slow it down. Don't get me wrong, but they can't stop the strain. Crypto is greater or I should say bigger than just the United States. Other countries, markets and regions are embracing the technology or passing crypto regulations. We saw the EU and the UK do this. So things are moving ahead. We just need Congress to act here. But I love this proposal by Commissioner Pham. This is what once again, real leadership looks like. And these folks, the regulators should be working with the industry, working closely to figure out how can we get this right, right? Work with the good actors, weed out the bad actors. So we don't have an FTX and a Celsius situation again. But once again, you've got the corrupt rat scumbag that is Gary Gensler, who has the entire market in a mess. And we need Congress to act, folks. And we need to support folks like Commissioner Pham and Hester Person, many more to help get the message across that there is not clarity in the market and regulation by enforcement does not work. Now, before we continue, a quick word from our sponsor, and that is linked to, which makes private equity investment easy. Linked to is a great platform that I personally use. They allow you to get access to companies before they go public, before they do an IPO within their portfolio includes different verticals such as crypto, AI and FinTech. Now, I'm, of course, interested in the crypto companies. And there are many, many very big names here from the crypto industry, such as Circle, Ripple, Chainalysis, Dapper Labs, Polysign, Ledger and many more. So great platform to get access to equity and diversify your portfolio. It's really an opportunity that has not been open to retail investors in the past, folks, because you had to be part of a hedge fund or some investment firm to get access to equity before these companies go public. So really, really great opportunity. So be sure to check out link to link will be in the description. All right. Next big news we got here is that library. Yes, the library, which, you know, they lost their case. They have filed a notice of appeal. Very interesting and very smart because what has been taking place over the past two months with Ripple's victory and Grayscale's victory shows there is weakness and there's more case law. Now, when I say weakness, weakness on the SEC's narrative, their attempt to try to kill good actors and crypto startups. And obviously the law has not been on the SEC side. So library throwing the appeal in here, very, very smart. And not to mention what's going on in the Coinbase case. So we shall see how this goes. I don't know if they are going to win the appeal, but I think it's very smart of them to definitely check this out and see if they can get it. Because once again, there's case law given the ripple situation, secondary market sales and all that jazz. So really, really excited to see how this goes because I think library was unfairly picked on by the SEC. One of the good actors legitimately trying to build a great platform that I was personally using, I was getting library tokens from publishing my videos and watching videos on the platform. But in came the SEC to protect me from library. Pretty, pretty nuts. And here Ripple's David Schwartz, which he was at APEX Dev Summit, which has been happening this week, and he made some opening remarks which got the crowd going. And this is on the future outlook of the XRPL on day one of the APEX Dev Summit. He said, other than Bitcoin, XRP is now the only digital asset with regulatory clarity in the United States. Yeah, I'd applaud that one or for that one, too. And the crowd went kind of nuts. So highlighting here, you know, what's been happening and trying to get folks to know like, hey, you can come build on the XRP ledger. You don't have to worry. You know, this we have the clarity from the judge, of course. Now, there was some thought around the XRP ledger being used by Palau. There was probably Bitcoin Maxis are behind this because it was published by Bitcoin .com. So here, J. Hunter Anson, who's digital residency officer director, part of the Palau Ministry of Finance, he said, not accurate. Palau is absolutely looking forward to continuing our partnership with Ripple using the XRPL to refine our stablecoin solution design. The Palau stablecoin was always a temporary research and development pilot. Originally scheduled for 60 days, we've actually extended it another 30 days to test some additional use cases discovered along the way and allow more people to participate due to popular demand. We need time to compile data and complete our report to government leadership. The report will include recommendations for the next pilot and also requirements for a full production program.
The Bitboy Crypto Podcast
A highlight from Solana Is Back! (Top Crypto News)
"Welcome to BitBoy Crypto! Home of the BitSquad, the largest and greatest crypto community, and all the Interwebs. Come to us if you want to discover all things crypto. It is September 5th. It's 11 .31am. We got AJ on the side. AJ, how are you doing? How was your three -day weekend? It was awesome, actually. I had a really, really good time. Jada's back from the West Coast, and we just kind of hung out, went shopping, got a bunch of groceries, you know, just did the normal, normal, normal weekend. So you spent like $2 ,000, $3 ,000? Nah, like $400, $500. Okay. But it's still, you know... It's still a quarter ETH? Yeah. Still a quarter ETH. But hey, no big deal. Drew, how was your Labor Day weekend? It was real good. Real good. Lots of work, a lot of trees cutting, a lot of things moving. I'm making a road. I'm moving and building in. All right. Guys, we're going to be talking about Solana and the stablecoin, of course. We got some Bitcoin news as well. Also, China dumping. What's happening with that? Jim Cramer just turned bullish on this top 10 altcoin. Guys, we're not kidding. We're going to talk about that as well. Should you start selling? Is it a short? Is it a long? Also, we got some Elon Musk stuff, and also Cassio, huge watch guy, G -Shock, partnering with Matic. That's pretty big news. And we're going to talk about Gala as well. Then we got the X news, and Deasy has crazy, crazy life news, folks. I just posted something up. Some of you who follow me on Instagram or X might see it as well. All right. We're adjusting the camera for AJ. Okay. Okay. AJ, you're just too tall. Just a tall strapping lad. I should try. Should I scoot down? Okay. I'm good. I'm kidding. We're good now. Guys, make sure you're following us on YouTube. We've got a lot of great videos coming out. We're going to keep putting out the awesome stuff. We just got some BNB stuff you're going to want to make sure you follow. Let's get right into the crypto market cap, though. Look at coins, AJ. Look at the number of coins. You see that? So many coins. Let's just stop, everybody. Just stop. No more coins. Of course, we know there's tens of thousands extra besides not listed here. Market cap is down. I kind of want to hit refresh. Just make sure we have that fresh, fresh data because Deasy just turned the market green, folks. That's the power of Deasy. That's the power of you hitting that like button. Now we're coming up 0 .2 % to the upside here. It is 1 .8 trillion, essentially. 24 -hour volume looking pretty good for a Tuesday off a holiday weekend, 45 billion. Bitcoin dominance, 46 .3. Tim is sick. He's working from home. If you watch the Investing Bros, you probably saw him. He was in his basement, his bunker. He had like a towel on his head, a big box of tissues the whole time, but he still brought the alpha, though, for sure. Did he get COVID from Jill Biden? Oh, I hope not. I hope not because he has a baby. Let's hope it's not COVID. It's just normal, human sick, nothing crazy. Yeah, let's just hope it's normal. I think he can fare better as well as the baby better than people in their 80s, though. Gas is really, really low, folks. If you're looking to get into some alts, I will say this. I peeled off, put some back into some ETH this morning. I'm not going to say what, but I did grab some ETH this morning. Peeled off a quarter, quarter ETH, aka AJ's grocery budget there. All right, let's look at the coins in Bitcoin is down 0 .4%. So what does that mean? It means the other coins are going to be picking up the load here. So we have Ethereum. It is up 0 .4%. We have XRP up 0 .2%. Cardano almost up 1%. Dogecoin up 1 .6%. But then Solana kind of taking it home here. It is now 4 .1 % to the upside. Ton coin fell a ton. It is down 6 .4. Polygon also picking up some good news with the watchmaker. You might be g -shocked to see it go up 2 .8%. All right, let's look at the top gainers, everybody.
Crypto Banter
A highlight from I sold my Bitcoin..
"I sold my Bitcoin today, I did it, I finally capitulated, I sold. But I didn't sell into USD, I actually sold some of my Bitcoin into Ethereum today in a big portfolio shift that I want to fully explain because I think it has a lot of ramifications not only for my own portfolio but potentially for your portfolios as well. So in today's video I want to talk about why today I shifted some of my Bitcoin into Ethereum and my thesis behind why Q4 could potentially be a better month for Ethereum than it is for Bitcoin. Obviously over recent time Bitcoin has outperformed in the lead up to the spot ETF hype but as that hype starts to subside I think we are seeing on the charts a few reasons start to unfold why Ethereum might be starting to outperform Bitcoin and it's an important one for the market because ETH being the biggest coin that's synonymous with the alts at the end of the day does dictate altcoin performance to a certain extent so this is a very important trade in my opinion and I want to break down my full thesis and give you my detailed overview and analysis as to why I made this market move and what we can expect in Q4 because I think it is going to be, especially September, a pretty pivotal month for crypto in what has been a fairly shaky market in recent times. So let's talk about it, important thoughts on ETHBTC. Now, the first thing I want to note is the ETHBTC chart, this is a very very interesting one you can see it has been in a downtrend, you can see these red circles here indicate the lower highs that have been set in for ETHBTC on the daily timeframe, you can see we had deviation above horizontal resistance but since then we broke back down below and then we did have a bearish retest of this diagonal channel and then we've come right all the way down onto this horizontal support multiple times but in recent times we've actually held this level quite well and I think the real noticeable thing over the last few days has been the response that Ethereum BTC has had considering the market's been dropping, Bitcoin's been coming down, a lot of altcoins have been smacked even over the past month, altered down 30 -40 % yet ETHBTC is actually technically in an uptrend. You have your low set in here at the 0 .6 level, then you have a higher low, then you have this week which isn't really what I would consider to be a lower low considering there was no official daily close, the actual daily close was above support, it was just one big shake out event and then since then we've had two successful bullish retests of this support line. So given the fact that the charts are saying this, what are the fundamentals saying? What are the driving narratives behind why the chart is starting to show a little bit of a reversal here and you know I've been talking about ETHBTC on the show for so long and I want to get into this weekly chart as well that I've shown on the show multiple times in the past so I think for the viewers right now this would be a great one to update you on just my general thoughts on the market because ETHBTC is probably the most important chart right now alongside dominance in my opinion, at least from an altcoin perspective. So the first reason why I think in the short term, so this video is more referencing the next two to three months than it is like the next year, in the short term I think there are a few reasons why it could outperform, let's break down these reasons because they are important structural drivers behind the market. The first reason is that Bitcoin has a pretty severe supply overhang in Q4, I did speak about it a little bit at the start of the week, but Bitcoin specifically, more so than other altcoins, has a lot of overhang. So you have the US government Silk Road Bitcoin that is set to be released onto the market, we know that at the beginning of the year they announced their plan to sell 41 ,000 Bitcoin which they acquired from the Silk Road seizure. They have essentially sold half of that throughout the year, 19k, sorry they haven't sold half of it, they transferred half of it this year with around half of that, around 20 ,000 Bitcoin set to be sold. So you can see here they have been shifting this Bitcoin around, they do have a mandate to sell it by the end of the year, so this is supply that is going to hit the market at some point this year. I don't want to fud and say that Bitcoin is going to crash because of this because we know at the end of the day 20 ,000 Bitcoin, the market can absorb but it is a fairly liquid environment right now so you do have to be wary of these sell events. You also have the Gox Bitcoin, this is a story that has been talked about and speculated about for quite some time, I've done videos on it myself. We know that it was at one point potentially overhyped as a bearish trigger, I do believe that the market will be able to absorb this liquidity but we do now have a confirmed date which is the end of October for when creditors are going to start getting their Bitcoin. This means that as of the end of October creditors will be able to start selling their Bitcoin if they did opt to receive a Bitcoin payment versus a USD payment, so that is something to know. You also have a lot of altcoins, not on the Bitcoin side but also altcoins which could impact the market starting to be liquidated, Sol but also BTC as we discussed before and also Ethereum, Aptos, Doge, Matic hitting the market from the FTX liquidations, like they're basically being forced to sell to payback creditors. The one thing I'll say here is it's only 500 million so I don't think it's going to have a huge impact especially because it's dispersed across like 10 different tokens but it's going to have some sort of impact on the market. So the first reason why I think Bitcoin may struggle in Q4 is because you have kind of this double whammy effect of supply overhang hitting the market, so Mt Gox, Silk Road in combination with basically this apathy from market participants given the fact that we don't have a spot ETF ruling. So the market essentially right now is hanging out, it's waiting for this spot ETF approval or rejection so it can make its next move but unfortunately you have this apathetic nature from the market in tandem with overhang coming onto the market and the question I would have is will demand be able to outpace the additional selling pressure? Now that's a very complex question to answer but my gut feel that I'm going off is no and that's why I think the likelihood is probably to the downside in the Bitcoin market in general unless we get a shock ETF approval before the end of 2023 or at least a strong indication that we're going to get one. Maybe the SEC comes out and says they're like I don't know somehow going to approve one. Although what we saw today was the spot ETF being continuously delayed. So we saw multiple spot ETFs be delayed today, Fidelity, BlackRock, Bitwise, they basically all got delayed and we know that the SEC is going to do this. We know that they're going to take as much time as possible to make a decision or at least as much time as possible to find a reason maybe to critique a Bitcoin spot ETF and for this reason I don't actually expect an approval until December at earliest but most likely next year. We know that the ARK21 shares filing is going to be the first one that has a final deadline so that's going to be on the 10th of January. I think the 10th of January is like probably the first date we're going to get like a concrete answer and it may be even later because there may be some reason that the SEC finds over the next few months to actually reject ARK. So let's just see what happens but the reason I'm making this point is because until then the market's pretty bored. It's pretty despondent in a way because a lot of people are kind of losing hope and the narrative is getting a bit exhausted. The Bitcoin spot ETF narrative which was so powerful it's getting exhausted because people know it's going to happen, they know the probabilities are high, they just now want to know when and it keeps getting delayed and this does create this element of boredom in the market and you do need an active market for buyers to step in and when you get sell pressure in a boring market that can often create a little bit of havoc which is why I'm just a bit wary going into Q4 and once again I'm not bare posting here. This whole video is about you know Ethereum right and why I made a little bit of a shift today from Bitcoin into Ethereum so if I was complete bear I would have gone into stablecoins right but I still do expect a little bit of downside on Bitcoin if I'm taking the pragmatic point of view. If of course we get some shock announcement before then which is always possible I do think we have to reconsider our thesis here but all we can do is go off the information that's right in front of us and of course the ETHBTC thing is a big thing I still need to get through the rest of my logic here to explain it.
The Bitboy Crypto Podcast
A highlight from US Government: TOP 5 Bitcoin Whale! (#FireGaryGensler)
"Well, the universe, an entire just globe, North America, everywhere, folks, it is Wednesday, August 30th. It's 11 .31am. Took us a minute, I guess. We got AJ here. We got Drew on the boards. You know, let me just go ahead and say this, guys, obviously, I would like to say more, you know, my hands are kind of strung, you know, in the midst of this investigation. So you know, I wish I could say more, but that's just kind of all I can say on this, folks. All right, let's just get right into the show, folks. Crypto markets are looking good, but I think if I refresh, we're about to lose everything, folks. Yeah, it was that 24 -hour gain. The second, we went from up 5 % to down 1%, essentially. And that is just because we have now, the pump was 25 hours ago. So the pump is over, folks. And now once the Kool -Aid, you know, is empty, everyone's at the party, the music stopped playing and Bitcoin's down 1%, folks. We also have ETH down 0 .9%, BNB down 2 .5%, as well as XRP down 2 .5%. Cardano, the rare EVO pump is over, folks. We are now down 5 % on Cardano. We're at $0 .26 still, holding support at $0 .26. Doge is down 3 .2%, coming in below 6 .5%. But look at TonCoin. TonCoin jumping a whole bunch up 7%, folks. Matic down 4%. Let's see, let's go to the top gainers. Let's go to the top losers. Actually, first, let's look at that Bitcoin dominance. We got Tim in the room. Tim, are you feeling better? We're at 47 % now.
The Bitboy Crypto Podcast
A highlight from Cardano Will Be The MOST IMPORTANT Altcoin Next Bull Market!
"I do think there's going to be a period where cash is eliminated. In this future utopia, we have flying cars, and there's jet packs, and everything's on a screen. We're not pulling out wadded paper, dropping it on the counter. Everything's going to be digital. Charles Hoxton believes Cardano will become the biggest crypto in the world, serving as a backbone of a new digital nation. I think I caught this speak. Yeah, this was the keynote address. I was in the crowd, folks. I was in the crowd. I was cheering. I was hollering. I was hooping, and then I got dragged out in a headlock. All right, people are scared of decentralized governance because they view it as something that takes away, but I never believe that. I think if you give people the chance to rise up and show who they are, what they can do, they will do amazing things. So that's our challenge, and that is why Cardano, I feel, is probably going to become the biggest cryptocurrency in the world, says Charles Hoskinson. Now, that is a bold statement. Bigger than ETH, bigger than Bitcoin, Nick. I mean, it's not a 0 % chance. What would you put it at, though? Would you put it in single digits? I mean, I would say it's tough to be bigger than Bitcoin. It's already good. It's going to be real tough to be bigger than Ethereum, but if I were to choose on any coin to do it, sorry, XRP. I am choosing Cardano to be that coin. 100 % agree. In my opinion, Bitcoin and Cardano are the only true crypto projects that have stayed to the cypherpunk ethos. I think by value, Cardano won't be able to touch Bitcoin, but by users, for sure. I think there's going to be so many hundreds of millions of people onboarded in Africa, in the Middle East, in Southeast Asia, on Cardano with their NFTs, with their smart contracts, that it's going to blow everything else out of the water. I firmly believe that. All right. All right. And one more quote from Charles here. I think it's going to be more than cryptocurrency. I think it's going to become the backbone of a new digital nation, a new society, a place where we can finally begin to trust each other again, a place where we do all our voting, a place where our money lives, a place where our digital life lives in every dimension and aspect of it, because we deserve that. A decentralized version, not the WF plant version. Oh yeah. You know, here's, oh, you laughed at that joke from the TV too loud. We know what you're laughing at. We're going to deduct your points. You're laughing too loud. That guy felt that was supposed to be a funny moment. Well, he did. And I'm sorry. So yeah, that's, it's essentially, guys, this is a, this is a scary thing I've said before. I'm gonna say it again. I do think there's going to be a period where cash is eliminated and this future utopia, we have flying cars and there's jet packs and everything's on a screen. We're not pulling out wadded paper, dropping it on the counter. Everything's going to be digital. And so do we want the, there are no choices and look, yeah, we just got to pull out our US gov ID or do we want some decentralized options and how do we get decentralized options? We get it with adoption. We get it with building and we get it with just education here. And so I think we really, really press that message. We can make that future because you go to, you don't have to use a credit card. You can use Apple pay. Tim Apple built something big enough where it's going to be, you know, used in a lot of places. I think we could do something similar with Cardano. I say, we, you know, they, you know, shout out to the junkies, but Charles and the team and what they're building and all the wallet makers out there, they're, they're really going to be what can get us to that next level, to that decentralized level. And that is where we all want to be. We don't want to be under the government's control. We don't want to live in 15 minute cities, but that is what they want us to do. All right. Let's talk about the South Korean exchange here. Crypto exchanges are required to hold minimum reserves starting in September. This is pretty big. All right. So they're going to hold a minimum reserve of funds of 3 billion won. Someone in chat might know that is, oh, wait, here we go. It's $2 .26 million. Bury the lead there. The new reserve requirement reportedly protect users in case of unforeseen issues, such as hacking or system failures. We keep going here. Additionally, the financial services commission's financial intelligence unit, whoa, has reportedly prepared a draft for the rules. These regulations come in response to requests from cryptocurrencies and exchanges for clear out clear crypto framework in response said all the Island holders set up to MTG here. All right. And now one more story here, CNBC covering Solana, dropping Bitcoin cash and Litecoin. Now, just the last part of that, they dropped Bitcoin cash. They dropped Litecoin. How do you feel about that? I don't care. They'll bring it back. All right. Well, if they were going to drop that, who would you want to replace it? Cardano. Okay. Okay. All right. All right. Nick might like Cardano folks. I mean, yeah. I mean, it's the most relevant. It's making the most moves. It has the biggest footprint outside of those other things. I mean, I'm sorry, Litecoin. Sorry. People would like XRP. There's probably some people, you know, I'm surprised they went with Solana polygon, you know, what they're doing with Starbucks and Reddit and so many other big brands, you know, I wouldn't, I wouldn't be surprised to see Matic or ADA up there. I think, you know, it might've been a better choice than Solana. Nothing. I have some Solana none against that team, but anybody got a Solana phone? It was like six people a day. All right. CNBC, one of the world's largest cable news networks providing real -time financial markets coverage has dropped Bitcoin cash and Litecoin and replace them with Solana. Meanwhile, they'll continue to cover news related to Bitcoin and need two of the most, you know, most valuable crypto platforms. We go here subsequently, Bitcoin cash and Litecoin are no longer in the top 10 by market cap and have emerging smart contracts and transactional networks that have taken positions in recent years. Litecoin and Bitcoin cash have a market cap of around 4 .8 billion and 3 .7 billion and are among the top 20 still coming in at 16th and 18th. I did not know Litecoin fell all the way almost to 20 there. Let's see. Let's go here. There you go. This is going to miss a coin or two. All right. So we go. Yeah. Litecoin coming in at 16 and then Bitcoin cash now coming in at 19 battling, battling this 3 .7 to $3 .8 billion market cap there. So Bitcoin cash fell 2 .8. Now dropping to 19. Looks like they're going to be out of the top 20. I would say out of the top 20 by the next bull run, then retail will buy a lot because there's still a lot of apps that have Bitcoin cash. So you're going to have retail. They're going to hear about Bitcoin. They're going to download Robinhood. They're going to see Bitcoin's $50 ,000, and they're going to see something with the same name that is $500. Oh, I'm just, why would I buy the one that's $50 ,000? I'm gonna buy the one that's $500. That's where the opportunity is. We're going to have a lot of that. And so I would expect it to, you know, maybe it'll drop and then it'll surge back. I don't know when it will surge back though.
The Bitboy Crypto Podcast
"matic" Discussed on The Bitboy Crypto Podcast
"Welcome to BitBoy Crypto, my name is AJ and this is the Price Prediction Department. In crypto, there are two words you will hear a thousand times, mass adoption. That is the goal, that is the dream, that is the rocket fuel in a spaceship made out of hopium. And when mass adoption happens, that's when we go to the moon. So when I think about which altcoin out there has done the most to get crypto that mainstream attention, two more words come to mind. Polygon or Matic, whatever you want to call it, let's get it. In this video, we will be dissecting Polygon, which is Ethereum's number one layer two project that is setting out to revolutionize scalability and security. To start off, Matic has always been a coin that's been on everyone's radar. That's not just because of it being a great scaling solution, but that's because of the impact that it's had of putting crypto into the mainstream in a big way. It has literally paved the road on how to get a crypto project backed by legitimate companies. Because all it takes is to get one or two top upper echelon companies and once you lock that in, the floodgates will open because everyone else knows that you are safe to work with. Polygon has earned its great reputation with its partnerships and its product, and it shows. Regardless if the partnership is for an NFT marketplace or building Web3 applications, it's bullish because it's only going to leave to more exposure for crypto. And a lot of these big companies really like to partner with projects that are carbon neutral. And in my opinion, this is kind of an optics thing, but optics matter. So what kind of partnerships are we talking here? We're talking draft kings, Stripe, Reddit, Disney, Adidas, the NFL, Starbucks, Adobe, Meta, Nike, Coca-Cola, and JP Morgan's first DeFi transaction was on Matic. Just last week, Polygon partnered with SK Telecom to create a Web3 ecosystem. And for those of you that don't know, SK Telecom is a giant in Korean telecommunications. Also, the Reddit NFTs on Polygon have been a big hit, and they just hit 40 million in sales last week. In regards to this, one of Matic's founders, Sandeep Nabal, commented on this and he said, Polygon ecosystem's mainstream products are silently reaching magic inflection points of growth. Be it Reddit avatars, draft king NFTs, or Nike dot swoosh, many others lined up too. Soon, AAA gaming too. Slowly but surely, fam. Him hinting at the AAA games really gets me excited for the future, especially because we've seen how successful all the other partnerships have been. And really, it's only a matter of time until real crypto is integrated inside our favorite video games. There's already rumors circulating about crypto being integrated into GTA 6, and if I can get paid to drive down a busy sidewalk, I'm here for it. And as you can see, that list of partnerships I said a little while ago, those are some of the biggest names, the biggest brands on planet earth. So my question is, how far can that visibility take us? Before we get to the price prediction, I want to thank you for being a member of the BitSquad by liking, subscribing, and commenting on this post down below. And thank you to Stake for sponsoring this video. So Matic describes itself as the value layer of the internet. On their website, polygon.technology, it reads, the fundamental protocol that allows anyone to create and exchange value powered by zero knowledge technology. And that's exactly what they're doing. We all know how expensive Ethereum's gas fees are, and this is exactly why we have layer twos to scale this out and make it cheaper for the user. The layer two projects are so good at scaling that Ethereum is not rolling out sharding the way they originally intended. And that's because the layer two projects like Polygon have it covered. To be clear, there is more to Polygon that meets the eye and with Supernets and Polygon ID and Midan coming in the future, it is going to get wild. And if you're on the fence thinking about jumping in, buying into the Polygon ecosystem, I implore you to do hours of homework and research outside of just this video before making that decision. So it's worth noting that back in March, Polygon rolled out the ZK EVM or the zero knowledge scaling solution that is equivalent to the Ethereum virtual machine. To be clear, the Polygon proof of stake sidechain is compatible with the EVM. It runs parallel to the Ethereum mainnet and the gas fees are paid in Matic. But the ZK EVM is built on top of Ethereum. It utilizes zero knowledge to speed things up, and it still benefits from Ethereum security. But unlike the proof of stake, the ZK EVM, the gas fees are paid in Ethereum, not Matic. Shout out to Finn Miller from the Daily Coin who wrote this article here. This article really helped clear things up for me in regards to the difference between the Polygon scaling solutions, and you should definitely check it out if you have a spare moment. So when Ethereum's founder Vitalik Buterin carried out the first transaction on the ZK EVM, he said this. He said millions of constraints for man, unconstrained scalability for mankind. That is an excellent quote, and the ZK EVM is really breaking the mold on what's possible for a scaling solution, and they already have exceeded 400,000 unique wallets. To be fair, you know, they do have some serious competition with Optimism and Arbitrum, but I kind of feel like it will be a gradual run up as we inch closer to the bull run with the activity on the network. And with all that said, let's get down to the price prediction. Remember, the equation for On December 26, 2021, Matic put in its all-time high of $2.90. Its market cap at the time was $19.75 billion, with a supply just over $7 billion. Today, Matic is ranked 13th by market cap and is currently priced right around $0.55. Unfortunately, Matic has lost over $14 billion from its market cap, and it currently sits at $5.12 billion. On the contrary, Matic's circulating supply has grown over 2 billion coins and sits at $9.31 billion. And as you can see, Matic's supply has gone up about 31% since its previous all-time high. For context, if we took Matic's previous all-time high market cap, but put that with its current circulating supply, that once $2.90 Matic would now only be a $2.12 Matic. Tokenomics matter. Unlike other coins that have terrible emission schedules and terrible tokenomics, Matic is already 93% vested since its max supply is 10 billion coins. This is very good news. Originally, Matic was supposed to finish its emission schedule and be fully vested by mid-2025, but now the remainder of its emission schedule is changing since the release of the Polygon 2.0 The new whitepaper is a very interesting read. It only took me like 30-40 minutes to read the whole thing. And if you want to read it, we will link it below in the description. I highly suggest that you check it out. It is sort of unclear exactly when Matic will migrate to POL. I read that they're giving people four years to kind of get ready for this thing, but it could happen earlier than that. So with the release of the Polygon 2.0 whitepaper, that does change the how the last 7% of coins will come in really won't make that much of a difference. And since things aren't as cut and dry now as they used to be, I'm going to estimate that Matic supply will be around 9.5 billion by the top of November 2025. And for the record, I'm saying November 2025 as the projected top for the top of the next bull run since it is a year and a half after the Bitcoin halving. And that has been the case the last three times. So now that we have the supply, what about the market cap? A lot of people have really liked that I've been using dominance as a gauge to see what is possible. If you look at this chart here on your screen, you will see that the 0.87% level has been a very important support resistance line on the Matic dominance chart. So the idea with the dominance chart based off previous videos is the idea that the total crypto market cap could get between 7 to 10 trillion by next bull run. So if Matic gets to this 0.87 level by the top of the next bull run and the total market cap is 7 to 10 trillion, what would that make its market cap? So if Matic got back to that important support resistance level at 0.87% and the total crypto market cap went to $7 trillion, Matic's market cap would be 60.9 making its price with the heightened supply $6.41. Using the same equation, if the total market cap for crypto went to $10 trillion, if Matic got back to that same dominance level, its market cap would be $87 billion. And with the heightened supply that we estimated earlier, Matic's price would be $9.16. Some of you might know that the price prediction department was actually a segment on the BitBoy Crypto livestream before it became an every Sunday show. Some of you might know that I covered Matic on the livestream about three months ago. And at the time, my price prediction for Matic was $7 to $8. So for Matic, I'm saying $7 to $8. Is that too high or too low? And at the time, I was not using dominance as a gauge like I am now. And reflecting on the price range I got by using the dominance, it actually opens up my range from $7 to $8 to $6.40 to $9.20. And I really think $6.40 to $9.20 is a larger range since it covers more of a gap in market cap, a gap in price. And honestly, I feel like this time, the dominance gauge is going to be my price prediction. Sometimes I just use it as a gauge and don't make it my price prediction. In those cases, my prediction is normally lower than the gauge. But in this case, I'm going to hang my hat on the dominance prediction. And my Matic price prediction for the top of the next bull run is $6.40 to $9.20. Boom, there you go. There is my Matic price prediction. I hope everyone out there got a lot out of this video. And what did you think of my prediction? Was I too bearish? Was I too bullish? Let me know below in the comments. For the next couple of weeks, I do have a couple coins planned that I want to do. But if there is a specific coin that I have not covered yet, also let me know down below. One last thing, there is now an official playlist for the price prediction department that has all the videos I've made for the past couple of months all in one spot. Be sure to check that out if you haven't seen them all. And with that being said, my name is AJ writes crypto and I hope you have a great rest of your weekend. Later.You've been dreaming about the dress. Come find the one at David's bridal. The most glamorous designer wedding gowns are now 15% off bridesmaid dresses that fit beautifully start around $99. Whether you need a veil, jewelry, shoes, or even lingerie and shapewear. It's all at David's bridal. Take 20% off outfit making accessories for a limited time. Stop by your local David's bridal store or shop David's bridal.com today, terms and conditions apply. The best time to get a great deal on a Jeep SUV is now during the summer of Jeep event, visit jeep.com or your local Jeep brand dealer to find the perfect Jeep SUV for you. Now get 15% below NSRP for an average of 6,300 under NSRP on the purchase of a 2023 Jeep Cherokee altitude Lux. Not compatible with lease offers or with any other consumer incentive offers 6,300 average based on 50% below average NSRP from all 2023 Cherokee altitude Lux models and viewers stock residency restrictions apply. Take retail delivery by nine five Jeep is a registered trademark. Have you heard of Instacart business? It helps keep my restaurant on track with fresh ingredients, supplies, and even last minute items delivered in as fast as one hour. And with access to over 1200 retail brands, we're able to handle any lunch rush. Get delivery that moves as fast as you do sign up for Instacart business. And for a limited time, get free delivery and 2% credit back for one year with a free Instacart plus trial visit instacart.com slash business to redeem Instacart plus trial for new users while supplied last plan renews at $99 per year. $250 credit back minimum excludes alcohol terms apply.
The Bitboy Crypto Podcast
A highlight from Is Polygon Underrated? (Matic Price Prediction)
"Welcome to BitBoy Crypto, my name is AJ and this is the Price Prediction Department. In crypto, there are two words you will hear a thousand times, mass adoption. That is the goal, that is the dream, that is the rocket fuel in a spaceship made out of hopium. And when mass adoption happens, that's when we go to the moon. So when I think about which altcoin out there has done the most to get crypto that mainstream attention, two more words come to mind. Polygon or Matic, whatever you want to call it, let's get it. In this video, we will be dissecting Polygon, which is Ethereum's number one layer two project that is setting out to revolutionize scalability and security. To start off, Matic has always been a coin that's been on everyone's radar. That's not just because of it being a great scaling solution, but that's because of the impact that it's had of putting crypto into the mainstream in a big way. It has literally paved the road on how to get a crypto project backed by legitimate companies. Because all it takes is to get one or two top upper echelon companies and once you lock that in, the floodgates will open because everyone else knows that you are safe to work with. Polygon has earned its great reputation with its partnerships and its product, and it shows. Regardless if the partnership is for an NFT marketplace or building Web3 applications, it's bullish because it's only going to leave to more exposure for crypto. And a lot of these big companies really like to partner with projects that are carbon neutral. And in my opinion, this is kind of an optics thing, but optics matter. So what kind of partnerships are we talking here? We're talking draft kings, Stripe, Reddit, Disney, Adidas, the NFL, Starbucks, Adobe, Meta, Nike, Coca -Cola, and JP Morgan's first DeFi transaction was on Matic. Just last week, Polygon partnered with SK Telecom to create a Web3 ecosystem. And for those of you that don't know, SK Telecom is a giant in Korean telecommunications. Also, the Reddit NFTs on Polygon have been a big hit, and they just hit 40 million in sales last week. In regards to this, one of Matic's founders, Sandeep Nabal, commented on this and he said, Polygon ecosystem's mainstream products are silently reaching magic inflection points of growth. Be it Reddit avatars, draft king NFTs, or Nike dot swoosh, many others lined up too. Soon, AAA gaming too. Slowly but surely, fam. Him hinting at the AAA games really gets me excited for the future, especially because we've seen how successful all the other partnerships have been. And really, it's only a matter of time until real crypto is integrated inside our favorite video games. There's already rumors circulating about crypto being integrated into GTA 6, and if I can get paid to drive down a busy sidewalk, I'm here for it. And as you can see, that list of partnerships I said a little while ago, those are some of the biggest names, the biggest brands on planet earth. So my question is, how far can that visibility take us? Before we get to the price prediction, I want to thank you for being a member of the BitSquad by liking, subscribing, and commenting on this post down below. And thank you to Stake for sponsoring this video. So Matic describes itself as the value layer of the internet. On their website, polygon .technology, it reads, the fundamental protocol that allows anyone to create and exchange value powered by zero knowledge technology. And that's exactly what they're doing. We all know how expensive Ethereum's gas fees are, and this is exactly why we have layer twos to scale this out and make it cheaper for the user. The layer two projects are so good at scaling that Ethereum is not rolling out sharding the way they originally intended. And that's because the layer two projects like Polygon have it covered. To be clear, there is more to Polygon that meets the eye and with Supernets and Polygon ID and Midan coming in the future, it is going to get wild. And if you're on the fence thinking about jumping in, buying into the Polygon ecosystem, I implore you to do hours of homework and research outside of just this video before making that decision. So it's worth noting that back in March, Polygon rolled out the ZK EVM or the zero knowledge scaling solution that is equivalent to the Ethereum virtual machine. To be clear, the Polygon proof of stake sidechain is compatible with the EVM. It runs parallel to the Ethereum mainnet and the gas fees are paid in Matic. But the ZK EVM is built on top of Ethereum. It utilizes zero knowledge to speed things up, and it still benefits from Ethereum security. But unlike the proof of stake, the ZK EVM, the gas fees are paid in Ethereum, not Matic. Shout out to Finn Miller from the Daily Coin who wrote this article here. This article really helped clear things up for me in regards to the difference between the Polygon scaling solutions, and you should definitely check it out if you have a spare moment. So when Ethereum's founder Vitalik Buterin carried out the first transaction on the ZK EVM, he said this. He said millions of constraints for man, unconstrained scalability for mankind. That is an excellent quote, and the ZK EVM is really breaking the mold on what's possible for a scaling solution, and they already have exceeded 400 ,000 unique wallets. To be fair, you know, they do have some serious competition with Optimism and Arbitrum, but I kind of feel like it will be a gradual run up as we inch closer to the bull run with the activity on the network. And with all that said, let's get down to the price prediction. Remember, the equation for On December 26, 2021, Matic put in its all -time high of $2 .90. Its market cap at the time was $19 .75 billion, with a supply just over $7 billion. Today, Matic is ranked 13th by market cap and is currently priced right around $0 .55. Unfortunately, Matic has lost over $14 billion from its market cap, and it currently sits at $5 .12 billion. On the contrary, Matic's circulating supply has grown over 2 billion coins and sits at $9 .31 billion. And as you can see, Matic's supply has gone up about 31 % since its previous all -time high. For context, if we took Matic's previous all -time high market cap, but put that with its current circulating supply, that once $2 .90 Matic would now only be a $2 .12 Matic. Tokenomics matter. Unlike other coins that have terrible emission schedules and terrible tokenomics, Matic is already 93 % vested since its max supply is 10 billion coins. This is very good news. Originally, Matic was supposed to finish its emission schedule and be fully vested by mid -2025, but now the remainder of its emission schedule is changing since the release of the Polygon 2 .0 The new whitepaper is a very interesting read. It only took me like 30 -40 minutes to read the whole thing. And if you want to read it, we will link it below in the description. I highly suggest that you check it out. It is sort of unclear exactly when Matic will migrate to POL. I read that they're giving people four years to kind of get ready for this thing, but it could happen earlier than that. So with the release of the Polygon 2 .0 whitepaper, that does change the how the last 7 % of coins will come in really won't make that much of a difference. And since things aren't as cut and dry now as they used to be, I'm going to estimate that Matic supply will be around 9 .5 billion by the top of November 2025. And for the record, I'm saying November 2025 as the projected top for the top of the next bull run since it is a year and a half after the Bitcoin halving. And that has been the case the last three times. So now that we have the supply, what about the market cap? A lot of people have really liked that I've been using dominance as a gauge to see what is possible. If you look at this chart here on your screen, you will see that the 0 .87 % level has been a very important support resistance line on the Matic dominance chart. So the idea with the dominance chart based off previous videos is the idea that the total crypto market cap could get between 7 to 10 trillion by next bull run. So if Matic gets to this 0 .87 level by the top of the next bull run and the total market cap is 7 to 10 trillion, what would that make its market cap? So if Matic got back to that important support resistance level at 0 .87 % and the total crypto market cap went to $7 trillion, Matic's market cap would be 60 .9 making its price with the heightened supply $6 .41. Using the same equation, if the total market cap for crypto went to $10 trillion, if Matic got back to that same dominance level, its market cap would be $87 billion. And with the heightened supply that we estimated earlier, Matic's price would be $9 .16. Some of you might know that the price prediction department was actually a segment on the BitBoy Crypto livestream before it became an every Sunday show. Some of you might know that I covered Matic on the livestream about three months ago. And at the time, my price prediction for Matic was $7 to $8. So for Matic, I'm saying $7 to $8. Is that too high or too low? And at the time, I was not using dominance as a gauge like I am now. And reflecting on the price range I got by using the dominance, it actually opens up my range from $7 to $8 to $6 .40 to $9 .20. And I really think $6 .40 to $9 .20 is a larger range since it covers more of a gap in market cap, a gap in price. And honestly, I feel like this time, the dominance gauge is going to be my price prediction. Sometimes I just use it as a gauge and don't make it my price prediction. In those cases, my prediction is normally lower than the gauge. But in this case, I'm going to hang my hat on the dominance prediction. And my Matic price prediction for the top of the next bull run is $6 .40 to $9 .20. Boom, there you go. There is my Matic price prediction. I hope everyone out there got a lot out of this video. And what did you think of my prediction? Was I too bearish? Was I too bullish? Let me know below in the comments. For the next couple of weeks, I do have a couple coins planned that I want to do. But if there is a specific coin that I have not covered yet, also let me know down below. One last thing, there is now an official playlist for the price prediction department that has all the videos I've made for the past couple of months all in one spot. Be sure to check that out if you haven't seen them all. And with that being said, my name is AJ writes crypto and I hope you have a great rest of your weekend. Later. You've been dreaming about the dress. Come find the one at David's bridal. The most glamorous designer wedding gowns are now 15 % off bridesmaid dresses that fit beautifully start around $99. Whether you need a veil, jewelry, shoes, or even lingerie and shapewear. It's all at David's bridal. Take 20 % off outfit making accessories for a limited time. Stop by your local David's bridal store or shop David's bridal .com today, terms and conditions apply. The best time to get a great deal on a Jeep SUV is now during the summer of Jeep event, visit jeep .com or your local Jeep brand dealer to find the perfect Jeep SUV for you. Now get 15 % below NSRP for an average of 6 ,300 under NSRP on the purchase of a 2023 Jeep Cherokee altitude Lux. Not compatible with lease offers or with any other consumer incentive offers 6 ,300 average based on 50 % below average NSRP from all 2023 Cherokee altitude Lux models and viewers stock residency restrictions apply. Take retail delivery by nine five Jeep is a registered trademark. Have you heard of Instacart business? It helps keep my restaurant on track with fresh ingredients, supplies, and even last minute items delivered in as fast as one hour. And with access to over 1200 retail brands, we're able to handle any lunch rush. Get delivery that moves as fast as you do sign up for Instacart business. And for a limited time, get free delivery and 2 % credit back for one year with a free Instacart plus trial visit instacart .com slash business to redeem Instacart plus trial for new users while supplied last plan renews at $99 per year. $250 credit back minimum excludes alcohol terms apply.
The Bitboy Crypto Podcast
"matic" Discussed on The Bitboy Crypto Podcast
"You need a pretty extensive vocabulary to be a polygon holder. There's always new applications and updates that bring a whole new list of new names and terms to learn. Sometimes, names even change, like we saw with the name of the project itself. Polygon is here to stay though. And keeping up with what is happening in this ecosystem is how you really stay ahead of the game. Let's get it. Welcome to BitBoy Crypto! My name is Ben. In this video, we're going to give you an update on Polygon, which is a layer 2 network that was launched as a scaling solution for Ethereum way back in 2020. Back then, it was called the Matic Network. This is why the token that powers the blockchain is still called Matic. Well, maybe more like because Polymath has the ticker poly. The brother rebranded to Polygon in 2021, but kept the name Matic for the token's ticker. Things won't always be this way though. It was recently announced that now it will eventually be called POL, or P-O-L. Then that will become the primary token of the Polygon network. This will happen as part of an upgrade where holders have the ability to exchange their old Matic tokens into new POL tokens. But both assets are expected to have value and utility in the ecosystem after the upgrade. For now, Matic is still used to pay fees on the Polygon network, and staking Matic is also required for running validator nodes on the blockchain as well, which is very similar to the architecture that Ethereum has taken on since the merge. Polygon is also a proof of stake network that operates as a sidechain, which means that it is its own independent blockchain linked to the main Ethereum chain using a two-way bridge. Bridges are mechanisms for moving crypto assets between Ethereum and Polygon. There are a variety of different bridges to choose from. You can pick the official bridge, which takes a bit longer and is a bit safer, or you can use one of the many different third-party bridges for a faster experience. Polygon's blockchain is compatible with Ethereum applications because it is an Ethereum virtual machine or EVM blockchain. Polygon's EVM is called BORE. It's got a few tweaks on the original Ethereum code to maximize for high transaction speed and low costs. Even though Polygon is one of Ethereum's oldest and most successful layer 2 networks, it continues to be the underdog of the sector because many developers refuse to give a sidechain a fair shake. This is why Polygon wasn't listed on tracking sites like L2Beat for the longest time. Now, you'll see Polygon in the rankings, but it isn't actually the proof of stake sidechain that will be there. It will be the newer Polygon ZKEVM chain, which has much less liquidity, but will eventually become more popular than the proof of stake sidechain in the future. So, you know the future? You can be a future member of the BitSquad by liking this video, following the channel and ringing the bell for notifications. Also, thank you to Stake for sponsoring this video. I mean, check it out. But don't look too close. Layer 2 projects are popular for their ability to scale their layer 1 project, and there's a method of the madness. The ZKEVM is Polygon's zero-knowledge rollup, which will be more decentralized and secure than the current layer 2s that exist on Ethereum. For now, it's still in beta though. So developers have warned to be careful. ZK stands for a type of technology called zero-knowledge proofs, which will be able to handle transactions much faster and more securely than the proof of stake sidechain. ZK proofs can also make it possible for individuals to prove certain things to other parties without revealing unwanted information, which can help make blockchain transactions more private. Polygon announced other blockchain networks for its ecosystem in 2022 called SuperNets. SuperNet is an additional chain built for a specific use case, similar to the app chains in the Cosmos ecosystem. SuperNets are based on Polygon's POS consensus mechanism, but since they are only focused on one use case, applications take full advantage of the blockchain instead of sharing it with others. Another term you may have heard tossed around is the Polygon SDK. SDK stands for Software Development Kit. Polygon's SDK contains modular libraries, tools and guides to help developers build on the blockchain. The SDK supports multiple programming languages like JavaScript, Python and Go. This makes blockchain more accessible for developers, which accelerates the development of applications on the network. Imagine, if things are more accessible for developers, things go better. So incredible apps have already launched on Polygon, working apps that people are actually using. One of the most promising protocols is Lens, a social media network that finally gives users control of their own accounts and information. Lens is still invite-only, but you can pick up an old account in FCE to start experimenting with the platform. There are rumors that they will be launching a governance token at some point, so using the platform is an easy way to qualify for the potential airdrops. Polygon is also home to Avogadji, one of the original crypto games that was a pioneer in the play to earn space. As the name implies, Avogadji is similar to the old Tamagotchi digital pet games from the 90s, which I'd never played. I was too busy playing Pogs. But it's tied to DeFi through the popular application Aave. It also has its own token called Ghost or GHST since Aave is Finnish for ghost. But we're just getting started. One of the most bullish things about Polygon is the attention that it has gotten from the mainstream. Polygon is where Reddit decided to launch their extremely successful NFT project and is also home to the Starbucks Odyssey loyalty program. If you're using those apps and sending transactions, you're going to need to learn how to navigate around Polygon Scan, a blog explorer that is used to view and analyze data from the Polygon blockchain. Polygon Scan provides information on blocks, transactions, balances and other on-chain activity. If you're familiar with either scan, it works in pretty much the same way. Polygon is even diving into AI with its own chat GPT-style chatbot called Polygon Copilot, which also helps out with coding and can be particularly helpful for developers building on Polygon. With that said, Polygon is one of the fastest expanding blockchain networks in the crypto ecosystem. And there are new terms popping up all the time. This is just a starter pack. And this list will probably grow a lot over the next few years, so you'll have to keep on paying attention. But that's all I got. Be blessed. BitBoy out.
The Crypto Overnighter
"matic" Discussed on The Crypto Overnighter
"OP Labs monitoring tools, Coinbase in -house blockchain monitoring capabilities, and third party tools for identifying malicious and out of pattern events. In addition, Base is developing tools to let builders increase their confidence in the security of the smart contracts they deploy. This includes a smart contract security scanning tool to help developers reduce the chances of writing a security vulnerability on their contracts. Base has been developed with a security first mindset, combining Coinbase's security best practices with the decentralized security rigor of an open source code base. They've helped simulated exercises to test and enhance their response capabilities and the overall resilience of Base in the event of a large scale incident. Their goal with all their security work is to anticipate potential attacks and to reduce the effectiveness of those attacks. The main net launch of Base is eagerly awaited as it continues to build with uncompromising standards of security to ensure that developers can come on chain with confidence. So what happened? We started off with news about Kraken, the cryptocurrency exchange being ordered by a federal court to provide the IRS with account and transaction details. This is part of a broader US crackdown on cryptocurrency, with the IRS seeking to identify accounts that have at least $20 ,000 in annual crypto trading from 2016 to 2020. It's a stark reminder of the increasing scrutiny of cryptocurrency transactions and the importance of regulatory compliance in the crypto space. Then we moved on to Bitcoin Depot,
The Crypto Overnighter
"matic" Discussed on The Crypto Overnighter
"To crypto. And that's in short supply these days. Revolut decided to suspend the purchase of Cardano, Polygon, and Solana for its customers in the US. However, US customers can continue to hold and sell these tokens until the middle of September. This decision is a response to the ongoing changes in the cryptocurrency regulations in the United States. A spokesperson for Revolut stated that the company plans to completely remove tokens like Cardano, MATIC, and SOL from its platform in September. On June 29th, Revolut informed its US customers that the purchase of ADA, MATIC, and SOL had been immediately halted for all customers. Despite this, users will still be able to keep and sell these tokens until September 18th. In a message to its US customers, Revolut explained that any remaining tokens will be sold at the market price at the time of sale, and the proceeds in USD will be deposited into their Revolut accounts. The reason for delisting these tokens, according to Revolut, is due to those changes in the US infrastructure. So it's not at all surprising that this is a result of the changing laws and regulations surrounding cryptocurrency in the United States. However, it is worth noting that Revolut continues to support ADA, MATIC, and SOL in other markets outside of the US, with no plans to delist those tokens in those markets. Again, the US is being cut out by their own actions. The spokesperson also mentioned that the number of cryptocurrencies supported on Revolut's platform varies greatly by location. For example, the European Economic Area and the United Kingdom both support over 115 cryptocurrencies. While the United States supports just over 30. Revolut is not the only company to delist these specific tokens. In recent weeks, Robinhood, eToro, and Bakkt have also announced the delisting of ADA, MATIC, and SOL, immediately stopping purchases. In early June, the USACC labeled ADA, MATIC, and SOL as unregistered securities. This was part of separate actions against major cryptocurrency exchanges, including Binance and Coinbase. This regulatory scrutiny led different companies to reconsider their cryptocurrency offerings in the United States.
The Crypto Overnighter
"matic" Discussed on The Crypto Overnighter
"Developed by Coinbase prepping for its mainnet launch. So buckle up, because we're about to dive into the deep end of the crypto world. Let's start with the latest on Kraken. The cryptocurrency exchange Kraken has been ordered by a federal court to provide the internal revenue service with account and transaction details. Now, the IRS claims that this information is necessary to determine if users have underreported their taxes. And we've known this kind of thing could happen, right? This court order follows a petition filed by the IRS in the Northern District of California after Kraken settled charges with the U .S. Securities Exchange Commission over allegations that its staking service violated securities laws. The IRS previously issued a summons to Kraken in 2021. Kraken did not comply. So now the IRS is seeking to investigate potential tax liabilities for users who conducted cryptocurrency transactions between 2016 and 2020. According to the court's order, Kraken must provide information for users who conducted transactions exceeding $20 ,000 within a calendar year. And that number is important because that's the number that the IRS asks you about at tax time. This information includes the user's name, birthdate, taxpayer identification number, address, phone number, email address, and other relevant documents. In addition to this, Kraken is required to provide blockchain addresses and transaction hashes. These are already part of the transaction data that it can share. The exchange may also be asked to provide raw data to the IRS. Judge Joseph Sparrow presided over the case. The good judge appears to have denied the government's request to also receive employment information and a source of wealth of information from Kraken. In fact, the judge just outright denied several of the IRS requests. This ruling comes as part of a broader U .S. crackdown on cryptocurrency. The IRS is seeking to identify accounts that had at least $20 ,000 in annual crypto trading from 2016 to 2020. When Kraken previously refused to comply with the IRS summons, they cited concerns that it would be a heavy burden and it was overly broad. However, Judge Sparrow said that the government has a legitimate purpose for seeking the materials described in the summon. The judge's ruling and the ongoing IRS investigation underscores
The Bitboy Crypto Podcast
"matic" Discussed on The Bitboy Crypto Podcast
"You need to become a millionaire next bull run? Today I'm doing some three dimensional math, find out what it's going to take to get that $1 million bag. Of polygon. And that's not my nipple. I'm pointing at. Let's get it. Welcome to BitBoy crypto. My name is Ben. In this video, I'm going to break down how you can turn some polygon into a big fat bag of cash. When looking at a project like polygon, price action may look God. It has similar price movement and all time highs, close to cardano. They both spent time below a dollar during bear markets, and they're all time highs or very close to $3 each. But the difference between these two come down to two main factors. Tokenomics and use case. Cardano is a powerhouse and will make people millionaires next bull run. In fact, I did a video about that that you can find by clicking here, or maybe here, somewhere up there. But polygon is in a different position. In my opinion, it's got a better shot at melting faces in the bull run. Here's why. Tokenomics are polygon are better than that of cardano's. Polygon has a lower supply cap, 10 billion compared to cardano's max supply of 45 billion Ada. This means that the supply of polygon is more scarce than aided by a long shot. This is an important metric to watch out for when putting together your portfolio. Too many high supply coins and market caps over $10 billion, major portfolio has less powder in its keg. The all time high for polygon is just over $3. That happened two days after Christmas on December 27th, 2021. Polygon quickly settled into a range between 90 cents and a dollar 15. It's much higher floor than what cardano is seen. It means that accumulating polygon requires more capital. And with the peak of the next bull run, maddock returns to its all time high of three bucks, becoming a magic millionaire would require a big chunk of money about $300,000. Kind of a bummer, to be honest, but don't worry, the moon math for polygon goes geometric. As other bull run scenarios, play themselves out. Because polygon and Ethereum layer two had some of the best business development in the blockchain space, polygon is going to see farther and faster adoption than most other projects in crypto. So is Ethereum rises, so a polygon, and it may do its own flipping of eth. The use case of polygon is different than cardano. Another project and that you use the token and conjunction with Ethereum or natively on networks that run a polygon. This dual usage makes polygon a little more scarce and a little more dynamic than other projects. This combined with its new integration with Google Cloud makes the fundamentals of polygon very compelling. Before we get any further though, I need to let you know that I hold polygon. But I've never accepted any money from any polygon business and the information in this video is simply my thoughts on the project. Basically, we've got no ties to polygon. Put my money where my mouth is, of course. Looking at the polygon fundamentals, it's realistic to expect the price can smash the $3 as the next bull run starts to go parabolic. As Bitcoin skyrockets passed a $1 trillion market cap, altcoins like polygon will be waiting in the wings to pop off. Polygon going to a $100 billion market cap, well, isn't that far off? And that scenario, the Matic token would be worth ten bucks. You'd only need a 100,000 Matic to be a millionaire. Make sure to go ahead and smash that like button and subscribe to the channel to get more crypto news, research, altcoin picks, and of course, bull run mania predictions. Everyone wants the top. How many X's can you get? But let's say things get mathematical for polygon. And it's able to triple up and break into the $200 billion market cap. Now we're talking about a $20 Matic, which would give you a cool million green rectangles. If you have 50,000 Matic tokens. But don't forget to add a few more sides to the shape of your portfolio by sticking your Matic. Polygon offers APY of 4.7%, which grows your bag ahead of the inflation of the token. This is an important thing to keep in mind for most altcoins, don't get burned by inflation. Token will still be minted during the next bull run, so it's important to stay ahead of that by staking on the network..
Tech Path Crypto
"matic" Discussed on Tech Path Crypto
"Too good at least for the short term here. What I think we're going to do is repeat something at least something like this, what we saw in November of 2022. I mean, if you look at this, this has been a very boring thing. I mean, we're at the same essentially the same price we were at back in May of 2022. So going on a year now just kind of sideways. So the big thing too is I think we're eventually going to break out up or down. And I think it's probably going to be down if you kind of look at this wedge. I think for the short term we're going to repeat this pattern. This is kind of what I drew here. See this red dot. This little wave down here we're going to repeat that. We'll probably hit the bottom of this wedge to 50 by it could be sometime in April and then if you break out of this though, I think ultimately this could be a potential bear market bottom. You break out of this, you got techno target at one 61 70. Curious how far down that is from the all time high here, about 75% correction. It almost seems too good to be true, so compared to a lot of other things that would be pretty good. You're on thin ice once you get to these levels because there's not much to hit on to. I mean, you've got something at a hundred. It's something lower. So, I mean, I don't want to say you're going to go down that low, but it's possible and you could have a big scare with this. Polygon is one that they haven't made news heavily over the last couple of weeks. One thing that is new is the Robinhood wallet is out. And now with that being the case, this is only available now all on iOS. So any iOS user, you can get to the Robinhood wallet if you were on the wait list, you probably already seen this. I think we reported on this, not a bad wallet. I mean, I see this as a potential for additional tokens, but more importantly for the DeFi space. Really rolling in and obviously being a part of that. Additionally with Matic next month, mainnet beta for ZK AVM arrives. So it's kind of the whole silver bullet concept for scaling on eth. First functional EVM equivalent. Z key roll up is almost here. That will be fairly big news, most likely polygon will move a little bit on that from a fundamental standpoint. What do the charts talk about there? Yeah, I think polygons like way overdue to finally start bleeding against Bitcoin. I mean, the main thing we've got the red dot in the weekly, very splitter our size. This is a rare bearish sign. We've never seen this before. Automatic fun fact, we've never really I don't believe we've ever really seen splitter size this high before even on Bitcoin. So we kind of don't know what's going to happen here, but what I can say is we're probably going to see some type of correction. It could be similar to something of this nature to hear for the next few months if I wanted to pinpoint it.
Tech Path Crypto
"matic" Discussed on Tech Path Crypto
"Here that if this does hold the position, it would make a complete, this would kind of create, I think, almost a new ecosystem out there for investment around Bitcoin, especially through something like kind of like lightning but lightning doesn't have a token. Where stacks does. So that in itself is unique. The coming together of NFTs in the Bitcoin network brings more security transparency traceability, stacks ability to leverage blockchain, security for settlement of transactions position to the network well for developing. Bitcoin decentralized finance would be a huge move. So again, love to get your feedback on it. If you guys think this is something that is going to stay around for quite a while, just to look at the charts real quick. By the way, we have a new DJ in our studio in the crypto pit. I'm not looking at him right now. But he got a chance to jump in on Matic made a nice run. So congrats to a new degen that has entered the crowd. Welcome to the crypto pit. Now let's get over to stacks and see what everybody else did. If you take a look at sex, as I said, we just put it into our CPI. And of course, for a little bit of reason, we don't have a lot of data on this. This is the daily right here. Obviously, on that green candle kind of spiking up there to around almost 90 cents today, so we saw some action. As I said, if you were following me on the mastermind, we've already, I've already done a sale on this one, but it is something that, you know, we play in with a lot of these new entries like this all the time. These are high risk that we do not recommend investing in. Because we don't give investment advice. But I play with them and these are the things that we research and that we look at on a sentiment basis, for sure. All right, so let's jump over to a poll if we have one. Let's see if we can get one. Up, it will stacks continue to rally due to the NFT going. Yes, it's over, 57%. Okay.
Crypto Banter
"matic" Discussed on Crypto Banter
"So that is something that I'm keeping my eye on because let's say dominant starts to really break down here and then we get a retest of this key level and then we start making our way to the downside. That is my indicator that I want to start getting more heavy into alts. For now, I'm just going slowly, you know, small DCA is positioning myself in some coins that I think are undervalued, take it pretty easy, but when we start seeing those signs, which is obviously the push up and the consolidation above range high for Bitcoin, also in tandem with what is likely going to be a bearish retest for Bitcoin dominance and then a push to the downside. You know, that's my signal to start going heavier or not, just to give you an idea of my plan. But I am starting to position myself slowly but surely in during some of these dips to make sure I have adequate exposure. If we do hit our upside targets, you know, I don't want to be left completely out of the market. So that's what today's video is about identifying some of the strongest narratives and trades. So the first thing I want to do is go over to old coin trades and then after that, I'll go into some of the more narrative based stuff based on of course the China altcoins which have been ripping some of the ZK stuff, which has been performing strongly, give you some updates on my plans there with some price targets. The first thing I want to talk about is, of course, Matic because they did have massive layoffs yesterday, which caused a lot of fun and did result in the Matic price coming down 12 to 14%. Now polygons had obviously insane growth over the last couple of years, not only in its ecosystem development, but also in its amount of developers, its amount of staff, its biz dev team. It's just been growing and growing and growing. And I think it got to the point where they just could not sustain a rapid increase in continuous hiring of fresh labor and fresh capital and it ended up making the decision to start to withdraw some of that labor that they had acquired. So polygon did decide to lay off 20% of their staff, which obviously isn't a good sign. Because it means that they are either a projecting some sort of downturn financially or B over hired in the first place and is a big company that's something you never want to do.
Crypto Banter
"matic" Discussed on Crypto Banter
"Now he has outlined kind of a range structure between a dollar 30 and a dollar 37, which is his ideal buys on the break of trend. We see that we had this support trend, which was firmly established, which is now seemingly resistance trend, yeah, sorry, support trim, which flipped into resistance, got rejected and now it looks like we're going to flip it back into support again. So if Matic does flip the dollar 30 zone into support, this is definitely a long scenario I'm taking. And in fact, I'll open one of my orders right now to the dollar 33. So if we go into the four hour chart and we look at this level, it's roughly in this pocket here. And I'll try and get my rectangle tool to make this clearer. It's in this pocket here that I'm looking at getting my first entry. And this will probably be split up into three entries. So hopefully we get a pullback into this zone, then I'll make my first buy here. The next bit I'll make is on the bounce of trend and confirmation and then the next biome is on the break of trend and the retest of that trend. Now, if we don't get this entry, it's possible we come back up and then when we come back down and test this range, I'll look at a look at taking along, but for now, my long order is going to be at one 33 around one 33. So I'm trading on okx. If you want to train an okx, there's a link in the description. Let's say I'm doing a $3000 trade. You put in a $1000 now, one 33, going to use 7 X leverage. I'm not a huge fan of massive leverage on a trade like this because it can come down and wick you out. It's very possible. You know, it does have a below the range high and then comes back in and then consolidates.
Crypto Banter
"matic" Discussed on Crypto Banter
"So I might look through the charts and I'm just giving very arbitrary examples the price will be completely different by the time you're watching this video, but I might look through the charts and say, okay, that's kind of like a decent support level. I want to put my stop at 16 5 ten. So then you would set your stop loss at 16 5 ten by clicking on the price and entering 16 5 ten. That's a 1.6% stop loss, but there's also preset stop losses of 10%, 25%, 50% and 75%, which will show you exactly where you get stopped out, but for the sake of this trade, I'll put in 16 5, ten, but of course that's a pretty tight stop, but I am on high leverage, so that's an example that will go with. And then my take profit also very important to set a take profit level. Let's say I want to take profits after making 50% of my trade, this will automatically execute profit taking at 16,656. All I need to do after I've approved my diet transaction is hit limit long and it will open up my meta mask. What I will do is click confirm on here and it will process the transaction on Matic, usually Matic just takes a few seconds, sometimes when the network's congested, it might take like 20, 30 seconds, but as we saw, the limit auto was successfully placed. To check and open order, you click on the open orders tab, and you can see the trade that has been set, so I want to do a 30 X leverage, Bitcoin trade with $50 worth of dye, and I want to execute that at a price of 16.519, I stop off of 16 5 ten and a take profit of 16 6 5 6. I'm going to go ahead and cancel that order because I was just using that as an example. You do need to wait one minute though after you've opened your limit order before you can cancel it. So I'm canceling the order now. It's been a minute and once again, just go into your wallet, click confirm, pay a tiny bit of gas, and that will also process. So it's all done in a decentralized manner. No one has custody of your assets, your own assets are in your own wallet. This is the good thing about trading on a decentralized exchange. You're simply using the exchange as a proxy to process trades. Now, if I wanted to short, it's the exact same thing. You just click on short in the top right, and I can also set a limit order for a short, I can adjust my leverage exactly how much I want to bet as well. Also, if you want to do a market order, you can do a market order, which means it'll execute straight away, so I'll show you what this looks like in practice. Let's say I want a long Bitcoin right now. It's been pumping a little bit. I think the pump's gonna continue, then I can put in a 30 X leverage trade.
99 problems
"matic" Discussed on 99 problems
"With. And part of the upper neutrino call of course to the lower bank came out by mobile transition we will not only be. Pre bank a quarter channel lock in pomegranate. Which is an emu copo Neville HMT will be more product cobalt on. Here's the top assignment that can impact those in a real capital. And it's going to tackle the company to a classic startup. The devos missiles and the onion. Start to pick up. So that doesn't really make sense about it. You should notice with the mainstream cookie pane in the Israeli. The set of demand in incoming anthem in MoMA planet took his name in de la to make it revenue shared as a day where it could be only people last time, you may be able to order the larger pomegranates for margaritas and Nikola finance. Some process financial sort of vanya took a digital zero automatic zero misc algorithm. To this needs biblia, when a mood starts in a pisan and as a person not over neck digital and strong should we not. Do what is good deals. And the digital is zero and this is where we are automatically. Participate in atomic sweat and mix, no intrigue on demand, we're going to lower making message Disney's keep for aba. We used to highly portray it on a drug strategy, and it is not a Silicon Valley. Just a long day some not talk, but all this pretty rava money, but it until now the overlap. Kai took an ex lattice standard, a stock lock is a razzle. Interpretation carries on the lattice standard. Nikki Hussein, and in terms of the one in rabi national loading, I miss myself service. And I started using it to put up a finishing set of results and there are places where Sami was an email. And the society had a national shito reckon has a master's problem in customized. That's what it means for life. Motor so quite a single Collier. This would allow lips that are copied or pomade and it takes a day, says 9 years now abortion proximity or avoiding a swagger with evening a broader tuna will take a cookie as the revolver. And the email in the take in the steel at the bouquet are so pretty. The question is key asset in the buddhas they were asked on a prey. It took us a little chance at it, but it's a vehicle rule, or puts the signal mortal instruments like any other couple of water, but they say a service thing is blocked maybe how to move from a to give you them in a complement. So the violence of the Louis in my assumption was in attributable action when we asked most of the financial history in 2019. And so I'm using a financing model that I put a chiller or car on it and I am talking the Russian virtual I took a bit to the tuna tuna tour that we can bear to be able to actually be supporting chilo two in its era on a put lag, it can be so strong as perilla carmilla would not cook to cape seamlessly to protest. The low fainted Mars secretary platform is a great algorithm that could be fast in some other Latino pachinko revenue shared in the chin could call a core product direction financial out to Alpine congruent in Google coach ever. But it takes three couple of minutes to click with the clock with is they are sort of the level of summit that transacted alci tonic is hysterical. I would use for a bunch of books I have and add the B rabo Alice Naomi Ali's financial set of out some delete for a period of advocacy. Just the routine of my life. Milan is a cheat cone. Some of which never Nicholas is now magnetic to see the day to be archived. I understand he said be a phenom below me nice to have a log deal. Overall, I take a to devote my entire giant spreadsheet Kira's support to bring them together and I was really making a feature and it gives me a football problem but drag at Google so we can also do it. Forum impulse to settle magnetic by any user talking illusion in the previous vehicle is to start in talking on simultaneous order on a table that's sort of unique multi. Camera. That's my analog text to this continuous internal barrier also bourgeois was a product called de la mossa is nice, but it would automatically email in. Automatically but the social media point and you had a bit ugly. But input costs are both active and a little. But not too strong it took the pollution you have or as an artist at the ultimate alpacas console, living channel mystical schedule in the list took a deal and it says abortion at export like Google analytics..
99 problems
"matic" Discussed on 99 problems
"Virtual asset high Bluetooth smart action at the bottom table to make.
Advent of Computing
"matic" Discussed on Advent of Computing
"Just imagine putting that in your resume expert at flow matic anyway flow matic was distinct in that it was designed for people who would traditionally not be programming a computer manuals and articles on flow. Matic explain that it was meant for basically anyone in a business so was math matic but flow. Matic it's emphasized. More one charmingly period manual boasts that flow matic can help quote break the communications barrier between programming and management groups. What we're starting to see is that hopper had a very different view of digital egalitarianism for a competing and more widely held view look no further than the contemporary fortran. One of the languages major design goals was to find a way for more scientists and engineers to use computers. Work was also done throughout the project to ensure it would be useful for existing programmers. You know people who were slaving away with machine code. If you read very long about four tran you'll find a lot of details about the acrobatics. The team went through to make sure the language produced fast programs that was partly to please existing programmers. We can easily say the. Fortran was aimed at making computing mar accessible. But it was very closed off nitesh. It was aimed at those that were already in the hard sciences. People who were already math freaks people who liked symbols when you get down to it. Programming is just a distant cousin of the scientific method hopper saw things in a different way and we can observe that really clearly in the whole flow. Matic mathematics split..
News Talk 1130 WISN
"matic" Discussed on News Talk 1130 WISN
"First quarter 49 yard touchdown strike from Graham urged to Chambre de que the Badger's office was frustrated the rest of the way. The third quarter was especially difficulties. Time and again, The Badgers had excellent field position on Lee to come away. Empty. This is head coach Paul Chryst. That was where the Our special teams, you know, came over the couple, big place and defensively. I thought we did a lot of really good things. And and we just They said we didn't you know, I thought we had some decent field position and but you gotta you gotta get third down conversions and then stay on the field. And you gotta protect that football and we didn't do that. We didn't do that. Well enough. And that makes it you know, so that you can't win with turnovers, but you're gonna make it that much harder. In the third quarter alone, the Badgers managed only 46 yards. That combined with a game total of five turnovers and eight penalties it made for a long day in Evanston. But now they turn the page as Wisconsin gets ready for the golfers more tomorrow. This is Madeline pay on the Badger Sports Network from Lear Field. I am G college. Securing America. Hackers air infecting hospitals with ransomware. This health care workers try to care for current virus patients and other sick people. Hospitals in Oregon, Michigan, Wisconsin in New York say they've been hit Terrence McGraw's president of P. C Matic, the perpetrators of this type of crime are looking to create as much stress and duress is possible. To compel people to pay the ransom right. And so unfortunately they're literally life and death situations When you hold a hospital hostage this way with ransomware McGraw says. The ransomware usually gets in through phishing attacks either has something into this bad. It sends you to a website that is bad or otherwise compels you to fill out something. FBI and Homeland Security officials say they have credible information of.