40 Burst results for "Maxima"
CoinDesk Podcast Network
A highlight from CARPE CONSENSUS: Moving on From Sam Bankman-Fried
"This is Carpe Consensus. Join hosts Ben Shiller and Danny Nelson as they seize the world of crypto. Hello and welcome to Carpe Consensus. This is a podcast from the CoinDesk Podcast Network. I am Benjamin Shiller, Features Editor here at CoinDesk. And joining me today is Danny Nelson. He is the co -host. And also Helene Braun. She is a reporter here at CoinDesk. And we're going to be talking about the SBF trial, which just wrapped up last week with the former founder of FTX being found guilty on seven counts of federal fraud and related charges. And that was a pretty big deal for the crypto industry and certainly here for CoinDesk as we broke the story originally. So Danny, what was it like to be there at the end of the trial there with the verdict? Yeah, I got to say it was unexpectedly emotional, right? So for five weeks, we heard all these co -conspirators, these insiders who pled guilty to various crimes, testifying against Sam saying he made me do this, he told me to do that. Caroline, Nishad and Gary all coming with their very powerful stories. And then at the end, Sam testified and then he was bad for him. I know, weird thing to say. I don't feel like he is innocent or I don't think he's not guilty rather. He's definitely guilty. He's guilty as hell. But watching him in the courtroom, watching his parents there, I just felt like this sense of, wow, I felt the gravity of the moment. And I don't know, we should lock him up, but we shouldn't give him 115 years. This is a hot take, I know. Maybe we can get into the rights and wrongs of how long he's going to get. Helene, what about you? How did you feel when you saw the verdict being read out? Yeah, I did not feel bad for him at all, especially after we heard all the closing statements. We heard two different closing statements from Assistant US Attorney, Danielle Cezune, and they were very compelling and very convincing. And I felt like there was this moment in her closing argument where I looked at Sam and it just felt like he finally realized that this was it for him. There was no going back. His defense was just not good enough. And I think the jurors knew too. And at that point I was just like, I hope he gets 150 years or 200 years. I don't feel bad for this guy. All the evidence that we've heard was just crazy to me. So no, I totally disagree with Danny. I think he deserves to be in prison for the entirety of his life. Right. So you mentioned the defense there. I mean, there seemed to be a consensus amongst lawyers that we spoke to about the trial and the defense that he didn't get a very good service on that score. I mean, how much of a difference do you think that actually made? I mean, it seems like a structural set of circumstances where he would get a guilty verdict anyway, and most people expected him to go to jail. But do you think if he had a better defense, he could have gotten a better sentence or a better verdict? Yeah, I think it's interesting because in the beginning of the trial, it sort of felt like the defense wasn't trying very hard. And I think it must be so funny if you're Mark Cohen, the defense attorney that Sam was represented by, to read all these articles about you and bad of a lawyer you are and how bad of the defense strategy you have from all these, you know, journalists that have nothing to do with the law and are attorneys themselves, and they're just judging your work, basically. But I think in his closing statements, I could see that he was trying really hard and that I think he was he had hope for his defense. I don't know. He's supposed to be good. I don't know. I was wondering that, too, if is he supposed to be a really good lawyer or is he just the guy that all the bad guys go to? He's the only one who is willing to defend them. From what I've heard, I think Mark Cohen is a fine lawyer, but that's the name of the game when you're a defense attorney. Your clients, especially the more outspoken ones like Sam Pink and Fried, you're not going to win all your cases. And if you have a really bad deck, well, that's the deck you have to play with. And he went to trial with this guy who had so much evidence against him. I think it was very insurmountable. So, sure, maybe he wasn't as quick on his feet with some of the strategic and tactical things in the courtroom, like objections and phrasing of questions and things like that. But if you have all these people testifying against your client, and then when your client takes a stand, you can't get him to sound the way that an innocent person would sound. And also, you have to remember, before the trial even began, the trial would go. The judge wouldn't allow the defense to bring in all of Sam's philosophical arguments. They wouldn't allow him to bring defensive counsel arguments. He went to trial with a losing hand, and it's not completely his fault that the trial ended up going against his client. Right. I mean, I have to say I agree with you, Danny, about feeling a little bit sorry for SBF. I mean, both things can be true. On the one hand, you can say this guy was a fraud, he was a criminal, he took a lot of people's money, and he spent it lavishly and irresponsibly. On the other hand, he is a human being. To get this huge sentence, he could go away for 115 years at maximum, seems like a rather excessive amount of time. And there is an argument out there that he is very much the fall guy for the industry, and the guy who's kind of taking the rap for a lot of cultural problems in the industry and a kind of lax, general corporate governance culture out there. I mean, there were VC funds that put millions of dollars, billions of dollars into FTX without doing any due diligence. And that's not a criminal act, but it was an act of cultural indifference or negligence that you could say contributed to this enormous folly. So, you know, I think there's a reasonable argument to say that he is taking the rap for the entire industry when maybe he doesn't quite deserve that kind of level of status here. What do you think about that, Danny? I don't know. I think it's a special kind of stupid to set up a company in the way he did. And sure, there's a lot of follies that crypto in general has committed, but just the arrangement between Alameda and FTX, and that's this whole case, right? That Alameda spent all this money from XTS customers. That is so unique, right? That doesn't even have to do with crypto. The way that this fraud was committed was mostly because people were wiring their money into Alameda Research to get it into FTX. So there was also the allow negative code and the let's borrow $65 billion code that was more crypto native, but I don't know. And, you know, look at me, I'm contradicting myself again, right? Because earlier in the episode, I'm saying, well, I feel bad for Sam and here I'm saying, well, he's guilty as hell. I don't know. I think there's room for both statements because it's very hard to watch someone's parents in the room when a guilty verdict is handed out. Like they're older, right? He's going to be locked up probably for the rest of their lives. I don't know. I just, I can't get over that scene in the courtroom. I did feel guilty. I'm sorry. I did feel bad for him. Did you steal the money? I did feel bad for him up until his testimony, because up until that point, all these people that he used to be friends with that were all part of the scheme to like, he wasn't just the only one that committed this fraud. All these other people, Caroline, Nashad, Gary, they're all part of this. And they all were put up on the sand as the good guys, so to say, just because they cooperated with the government and they told their side of the story. But his then testimony just showed that he is not remorseful at all. He still is trying to lie to people. He's still trying to talk himself out of this. And at that point, I was just like, it's too late for this. You're already in this trial. You're on the stand. It's time to look back and be a little bit remorseful and stop thinking that you're smarter than everybody else. I mean, do you think it would have made a difference if he was remorseful? Well, if he was remorseful, he wouldn't be convicted even faster. Yeah, except because he can't really be remorseful because in his opinion, he's not guilty. Right? So what's he going to say to the jury? He could say something like, I'm sorry, the people got hurt and I made mistakes and something like that. Well, he did say that. That was the very first thing he said, basically. And then after that, everything was basically, I don't remember. He decided to say it because he had to. Helene, among the witnesses that flipped on Sam, who's the biggest villain? Like you sat through that whole thing too. Who do you walk away feeling the least bad for and who do you feel the most bad for? I feel like there are easy answers here. I feel the least bad for Caroline just because literally just because of that tape that we heard from that meeting in November where she told her employees that it was kind of fun to, you know, steal money. She obviously didn't explicitly say it like that, but she said it was fun. She sounded a little crazy in that recording. So after her testimony, after hearing that recording, I thought, wow, she's definitely not the innocent little girl that everybody says she is. She certainly knew what she was doing. And she certainly, you know, she's certainly guilty as well. So I feel the least bad for her. The person that I felt really, really bad for wasn't a shot. Okay. But I also don't know if that's just because he's very soft spoken. He has a very low voice. He seems like a very sweet guy. So it could just be a front that he put on for his testimony. I have the opposite answers, actually, like a complete opposite. I feel like Caroline from reading the Michael Lewis book, which is sympathetic to Sam, but also some of the things that were said about Caroline were repeated by the government in their narrative. Caroline just comes off to me as someone who was completely, I guess the word I would use is submissive in every aspect of this business and personal relationship. And I don't feel bad for her at all, but I feel the least bad for her, even though she did big fraud. I think that Nishad, though, is next level evil. He presents himself, like you say, as this guy who is soft spoken. Oh, by the way, after he learned that the companies were stealing money from customers, he took out $3 million to personally buy a house. This wasn't like in furtherance of the scheme to keep it all afloat. This was so he could have a house, like personal enrichment. So I think it's all just a front. And Gary, I don't know how to read him. I think he just doesn't talk much. And he took the deal as soon as his lawyer said, we should make moves here. Do we know what the deals are with those collaborators who turned on SPF? I mean, will they be getting any jail time? We don't know that aspect of it. I would imagine that Gary will get the best deal because he offered himself up to the government before the government was even investigating. Caroline, she didn't speak until they raided her house. So you get negative points for that. And I don't know about Nishad, but I would expect Gary to get the best deal. Gary said he hopes that he doesn't get any jail time, though. And I think that could actually be the case, because we see in a lot of these white cases that those people or the witnesses that cooperate with the government actually get zero jail time. So I think that's a possibility, which would be crazy to me. Yeah, we'll probably get years of probation. So if they would violate the deal, then they would go right to jail. But I think Caroline might get some time. I don't know about Nishad, and I would expect Gary to get no jail time. Could we even see them back in the crypto industry? I highly doubt that that seems exceptionally unlikely. I think they want nothing to do with this. In fact, in other cases, the government, like for securities fraud, so some of them have some of them pled guilty to securities fraud. When you plead guilty to securities fraud, the government often makes you say, I will never work in the securities industry again. That probably means they shouldn't work in any of crypto, because most cryptos are securities. Bitcoin's not a security. Well, Bitcoin's not a security, too, and neither is Ether. But a lot of the other ones probably are. So if I were them, I would steer clear. I don't know. I think they've had their fair share of the crypto industry, and I don't think anybody needs to see them back in the industry. I think Adam Yedidia, who was one of the first witnesses, who was a senior software engineer at FTX, I think, or Alameda, he is a high school teacher now. Yeah, he's a math teacher. He seemed a little traumatized by this whole experience. Well, maybe in a few years' time, we can do a sort of where are they now article.
WTOP 24 Hour News
Fresh update on "maxima" discussed on WTOP 24 Hour News
"Israelis and that's just what happened this morning when two Palestinians from East Jerusalem shot up a bus stop here in Jerusalem. Secretary of State Antony Blinken has met with Israeli Prime Minister Benjamin Netanyahu. Blinken says on social media they discussed efforts to secure the release of all remaining hostages and accelerate delivery of humanitarian assistance into Gaza. In other news this afternoon, it was June of last year when a Marine veteran out walking his family dog was hit and killed by a drunk driver in Prince William County. Now the driver has learned what his punishment will be. Luis Alfredo Perez Jr. and his Akita mix were out for a walk on Old Bridge Road. Witnesses saw a Ford Focus swerving, leave the road, the jump sidewalk, hit Perez and his dog before crashing into a power pole causing an explosion. Perez admitted to police he'd been drinking beer that night. Testing showed three hours after the crash he was still legally drunk. He pleaded guilty to DWI, involuntary manslaughter in July. Now a judge has given him the maximum sentence, 10 years in prison. Neil Ogenstein, WTLP News. The FBI has arrested a woman who claims that she plotted the Uvalde school massacre with that shooter. A woman who claims to who'd have been the been girlfriend of the Evaldi school shooter was arrested in Puerto Rico. Authorities say she made threats to Evaldi residents through emails and social media posts dating back to 2018. According to court records, 19 -year -old Victoria Gabriela Rodriguez Morales is said to have claimed that she was Salvador Ramos' girlfriend and had planned to
Evangelism on SermonAudio
A highlight from Acts 030 - Power Through Purity
"All right, well good evening everyone. Let's open our Bibles to the book of Acts chapter 5 and verse 12. I want to invite the men in the room to our men's fellowship breakfast 8 a .m. Saturday. Paul Scharf is going to be presenting. And then we have a family fun day I think in the afternoon, right? So we're trying to put the word fun back into fundamentalism. That's our new motto here. So big day Saturday. But for this evening, let's open our Bibles to Acts chapter 5 verse 12. And verses 1 through 11, Ananias and Sapphira have been slain in the Holy Spirit as we saw last time. Don't mean to make light of that. So there was sort of an issue of purity within the church. As you had these two people that were kind of bringing in sin into the church and the Lord dealt with them through maximum divine discipline. And then what typically happens is when the issue of purity is handled correctly, then the church sort of takes on new power. So you have, beginning with the rest of the chapter, the power of the church. There's a tremendous description of its power in verses 12 through 16. But as typically happens when God starts to bless or use somebody, it invokes jealousy. And so you'll see jealousy there in verse 17 amongst the Sadducees leading to persecution. So the rest of chapter 5, you can kind of divide it up as the apostles' power, verses 12 through 16. And then how they were consequently persecuted, verses 17 through 42. So let's go ahead and start off here with the apostles' power. Here's a little outline of the apostles' power, verses 12 through 16. And we start off with apostolic authority, verse 12. It says, At the hands of the apostles many signs and wonders were taking place among the people, and they were all with one accord in Solomon's portico. So the first thing you see here, verse 12, is apostolic signs. And again, the apostolic signs are following how the Lord dealt with purity. So the church is now practically purified with Ananias and Sapphira, who were bringing Satan's agenda into the church, now out of the scene. And then the church takes on new authority or new power. So I guess one point of application for us is if we want to see the Lord's power in our lives, we need to maybe, I don't know, spend less time seeking power and more time seeking purity, because God uses pure vessels. And the more we give ourselves to the issue of practical sanctification, the more we give room for the Lord to work through us via his power. And the power here in the first century was manifested through the apostles. Signs and wonders were taking place. This is a sign gift. You have to understand a lot of these things in the book of Acts in the context of it's the apostles on the earth. They are sort of foundational to the outworking of the church. And so what you see in the book of Acts is miracles, signs and wonders will cluster around the apostles. Paul in Ephesians 2 verse 20 says of the apostles, having built on the foundation of the apostles and prophets, Christ Jesus himself being the cornerstone. So the first, in this metaphorical temple, the first stone that goes in is the cornerstone. And then the cornerstone, and that's Jesus. The cornerstone is very important because through the cornerstone, you arrange all the other stones in the whole structure of the temple. And after the cornerstone is put in, then you put in the foundation stones. And so the Lord built the church, first putting in the cornerstone, Jesus, the most important stone. The stone by which all other stones are gauged and measured. And then after he was put in, in this metaphor that Paul is using, as he analogizes the church to a temple, in came the foundational stones of the apostles. And so that's what you see happening here. 2 Corinthians 12 and verse 12 talks about the signs of a true apostle. It says, the signs of a true apostle were performed among you with all perseverance by signs, wonders, and miracles. So that's what's taking place here. And one of the things to understand as we go through the book of Acts is every single miracle that happens in the book of Acts was performed either by an apostle, or it was performed by someone operating under the delegated authority of an apostle. So Arnold Fruchtenbaum writes of verse 12. He says verse 12 provides evidence of apostolic authority. The account of the second persecution of the church begins with apostolic signs. Again, it is important to note that in the book of Acts, only the apostles and the apostolic delegates who were appointed by the apostles by the laying on of hands were able to perform miracles, signs, and wonders. This fact has come out four times before in the book of Acts, and he's got the verses there in parenthesis. Acts 2, 43, Acts 3, 6, and 7. Acts 4, 22, and 33. And then he says, and now it's once again repeated in this verse. So you see these apostolic signs taking place, and then you see the oneness that the believers here had with each other. You get a glimpse of their spirit of unity, because the rest of verse 12 says, and they were all with one accord in Solomon's portico, Solomon's porch. Now when the church was just getting ready to start, because it was birthed on the day of Pentecost, just prior to that, in Acts 1, verse 13, they were meeting in the upper room. It says, when they had entered the city, they went to the upper room, where they were staying, and then it lists the 12 apostles. Well, by the time you get to Acts chapter 3, you can't cram everybody into the upper room. Peter preached that opening sermon on the day of Pentecost, where about 3 ,000 were saved. And according to our last numerical count, Acts 4, 4, now at least 5 ,000 are saved. And now we're in Acts chapter 5, some estimate that there could be as many as 10 ,000. So the church, just like was predicted, once the spirit fell, would start to grow exponentially. And so they couldn't fit in the upper room anymore. So they had to move to the portico, or the porch of Solomon, within the temple. You see them doing that in Acts 3, verse 11. It says, while he was clinging to Peter and John, all the people ran together to them at the so -called portico of Solomon, full of amazement. So part of the temple was named the porch of Solomon, because Solomon was the builder of the first temple, all the way back in 966 BC. And one of the things that's interesting is the early church had no problem meeting in the temple. They weren't saying, you know, we've got to get out of here, you know, we need to become Methodists as fast as we can, we need to become Presbyterians as fast as we can, we need to become Episcopalians as fast as we can, we're going to need some stained glass windows. Let's get rid of all this Jewish stuff. They had no intention to separate themselves from Judaism. All the believers at this point are Jewish. And you don't even have a Gentile converted in the book of Acts until in Cornelius Acts chapter 10. And as Jews, they had no problem celebrating Yeshua. Jim, in his opening prayer, used the word Yeshua, which is just the Hebrew name for Jesus. Jesus is the Greek name. But they had no problem celebrating their newfound life in Yeshua, in the temple, because they saw Jesus as the fulfillment of Judaism. Judaism points to Jesus. The whole purpose of the nation of Israel, one of its major purposes, is to bring Jesus into the world. So, you know, we sort of have drawn this, as Gentiles, this sort of line between us and the Jews, but the early church never did that. They didn't see the need to because they saw Christianity. In fact, this movement isn't even called Christianity yet. The word Christian is not even going to be used until Acts 11. They're just believers in Yeshua, or Jesus. And they saw that as being connected to Judaism. Judaism pointed to that, and they had no ambition to, you know, disconnect themselves from the temple in Israel. And then this expression, one accord, is very interesting to me, because that's what Jesus said would happen in the upper room. He said in John 17, verses 20 through 23, just a few days before his death, when he prayed, and he prayed there the Lord's Prayer. John 17 is the Lord's Prayer, right? Because that's the Lord praying. Matthew 6 is not the Lord's Prayer, although we errantly call it the Lord's Prayer, because Jesus never prayed that prayer in Matthew 6. That's the disciples' prayer. He was teaching the disciples how to pray. And I hope he didn't pray that prayer, because one of the lines in it is, Forgive us our debts. Jesus was sinless. So if you really want the true Lord's Prayer, read John 17, where he prays first for himself, verses 1 through 5, and then he prays for the 12, really the 11, because Judas left the room, verses 6 through 19, and then from there, I think to verse 26, the end of the chapter, he prays for the church, or those that would believe through the ministry of the apostles. And as he's praying for the future church, he mentions the unity that the Holy Spirit would bring to the church. He says in John 17, verse 20, he says, I do not ask on behalf of these alone, but for those who believe in me through their word, that they all may be one, even as you, Father, are in me and I in you, that they may also be in us, so that the world may believe that you sent me. The glory which you have given me, I have given to them that they may be one, just as we are one. I in them, and you in me, that they may be perfected in unity, so that the world may know that you sent me, and love them even as you love me. So there's a prayer there in his true Lord's Prayer, where he says, everyone that's going to be affected by the ministry of the 11, I pray that they would be just as unified as we members of the Trinity.
Crypto Altruism Podcast
Fresh update on "maxima" discussed on Crypto Altruism Podcast
"Happy giving season and welcome to the seventh episode of the Web3 Nonprofit. Now before we dive in and welcome our guest, I wanted to give a special shout out and thanks to Endowment for their partnership in helping bring this to life. For those who have been listening along throughout the whole series, you will know that Dave from Endowment has been sharing some awesome clips each episode introducing the work Endowment is doing and the value that they bring to nonprofits and donors. This time, let's just say that they took it to the next level. With Endowment.org, your generosity is more than just driven. It's your contribution, speed, and efficiency. Unleash your assets, be it stock, cash, or crypto. A few clicks and you're in the driver's seat of a donor advised fund. Free to create with no minimums, ready to steer your philanthropic vision. Feel the adrenaline as every gift is turbo boosted by the universal impact pool. Track your donations with unerring blockchain accuracy. Each contribution precise, recorded, and transparent. Experience the thrill of lightning fast on-chain grant making to nearly 2 million US nonprofits and thousands more across the globe. It's time to put philanthropy into the high gear. This is modern giving engineered for maximum impact. Endowment.org, the ultimate giving machine.
Thinking Crypto News & Interviews
A highlight from BITCOIN'S NEXT MOVE & 2024 & 2025 Price Predictions with Caleb Franzen
"Is very strong for Bitcoin. And if Bitcoin is strong, as we all know, that creates a massive ripple effect throughout the entire kind of crypto ecosystem where good things can happen at the very least. This content is brought to you by Uphold, which makes crypto investing easy. I've been a user of Uphold since 2018, so I trust this platform and I can vouch for it. They have a full functional app, a full functional website, and they carry Bitcoin and all the top altcoins, including stablecoins. You can also trade precious metals on this platform and as well as 37 fiat currencies. So Uphold is available in over 150 countries and they are a safe platform. They have full reserve of customer assets. They don't commingle or lend your funds out and they provide audits of their reserves. So it's a safe platform and I trust it, I vouch for it, and I've interviewed the CEO, the CFO, and other representatives of the company. So if you'd like to learn more about Uphold, please visit the link in the description. Welcome to the Thinking Crypto podcast, your home for cryptocurrency news and interviews. With me today is Caleb Franzen, who's the founder of Cubic Analytics. Caleb, it's great to have you back on. Tony, good to see you, man. I think the last time we were here was back in April, I want to say. So six, seven months ago is a good recurring basis to get back together and talk markets, man. Yeah, absolutely, man. And you provide some valuable insights in your newsletter as well as on Twitter or X, as Elon would call it now. So I've been following you and appreciate your insights. So I wanted to get you on here to go a bit deeper and talk about what's the outlook for Bitcoin in the short term as well as long -term and some of the top altcoins. What are your thoughts on the recent rally and do you expect Bitcoin to go a bit higher? Things are looking pretty solid. I think at the beginning of the year, I started out a little bit towards the doom and gloom side. But one of the things that I said was regardless of what was going to be happening in the markets this year, I was going to be buying assets. I was going to be buying equities. I was going to be buying Bitcoin. And that's exactly what I've been doing pretty much all year. Back in January, something very important happened, and that was the price of Bitcoin got above the short -term holder realized price, which is basically the short -term cost basis of all Bitcoin that has been transacted within a six -month window. And historically, that's always a bull market signal. If price can get above the short -term holder realized price and stay above that level, good things tend to happen. Every bull market in Bitcoin's history is characterized by that one simple fact. Then a bunch of other bullish signals happened thereafter. And so piece by piece, indicator by indicator, we've been stacking bullish evidence. And now we actually have the fundamentals to really back this up. We have the halving, which is basically 160 days away. We have spot ETFs that are basically, I truly believe plural, are going to be getting approved likely in a blanket approval process. And then if my macro outlook is on track, we're going to have continued disinflation, which is likely going to be bullish for assets across the board. I think it already has been very bullish this year. Look at the stock market, look at Bitcoin, look at Ethereum, so on and so forth. But if that disinflation continues, as I look forward, I've been referring to it as non -recessionary or disinflationary rate cuts beginning in the third quarter of next year. At this point, I'm not willing to entertain rate cuts before then. But my thesis right now is that the Fed will start to do a total of 100 to 250 basis points worth of cuts. If they do that from a pause of 5 .33%, we're really going to have still tight rates, still high real federal funds rate, real interest rates, so on and so forth, but just less restrictive than if they continue to pause. And so I think the Fed is recognizing that. They're not openly admitting it yet, because they're still using their rhetoric and forward guidance as a policy tool. That's one of the big benefits that they have. They can forecast to the market, even if they're kind of fibbing, or they want to maintain maximum flexibility. And so they're giving themselves a long leash with a lot of slack. And so, man, I'm feeling very optimistic about Bitcoin, especially right now. I've recently started buying Bitcoin mining stocks. Once again, I was trading those at the beginning of the year with a lot, a lot of success. And now I'm really kind of viewing this as a six to 12 -month thesis for the miners. So I'm basically going to be DC 'ing into those over the next two months, probably daily. And so I'm feeling very optimistic about things right now. So I'm happy to kind of take that wherever you want, but that's kind of my baseline. Yeah. And great points you brought up and with the macro and the Fed and their narratives and things they're doing. And it seems, to your point, that they are officially paused. Now, there's always the possibility that they could raise, but it seems like they're officially paused. And as you mentioned, with the halving coming up, the Bitcoin spot ETF approvals around the corner, certainly a bullish time. So if you can share the Bitcoin chart and tell us what you're seeing for the short term. Some people are saying, hey, this is a start to the run up to new all -time highs. Some are saying, hey, this is like a 2019 move. A retracement will probably hit a certain Fibonacci level and then roll over. And then the slow steady grind to new all -time highs in 2025. What's your thoughts and thesis around that? So here's Bitcoin. And one of the things that I like to use, I don't rely on the exponential moving average specifically, and I don't look at the simple moving average specifically. So something I'm trying to kind of shine more light on is something that I'm calling the 200 -day moving average cloud. So I'm combining both of them. The EMA is shown in teal, and the SMA is shown in yellow. And we could see very clearly, this has been a strong level of both dynamic support and resistance. In my opinion, so long as we stay above this level, good things happen. We've been able to stay above it now after a brief consolidation below. You can see in several cases here, we actually used it as resistance, flipped it into support, taking off. So this is very optimistic kind of price structure overall. And now we've really kind of cleared through this range as well. This was a level that I was highlighting back in January, actually, when we got above the 200 -day moving average cloud, saying, now we need to focus on the next level of structural resistance. So I was calling for this range even above 25 ,000 going all the way up to 30K back then. And we ticked it a couple of times, and we've sold off since then. So now we're back above it. It's now valid potential support. And so I continue to think so long as we stay above this level, which is basically from 31 ,000 all the way to 32 .8K, we could see price rebound here for sure. But overall, this chart looks fantastic. One of the things that I mentioned earlier was this short -term holder realized price. And so as we look at the dynamics right now with respect to the short -term holder realized price, it also looks very similar to what we're seeing on that 200 -day moving average cloud. We flipped it into resistance. We had the breakout here, support, support, temporary breakdown here. This was a bit of a concern for me. But so long as we're back above it, I think we can be very, very optimistic. And so one of the things that I say about my approach personally is that I always try to stay dynamic and flexible based on the data and the chart in front of me. So if we fall below the short -term holder realized price, you're going to see me on podcasts. You're going to see me on Twitter sounding a little bit more defensive, not necessarily bearish, but willing to be patient and willing to kind of consider downside scenarios. If we stay above this level, I'm going to be coming on these shows saying, we're going higher, we're going higher, we're going higher. This is bullish price structure because it is. So that thesis might be wrong. Things can change. Markets are dynamic. We don't know what the future holds. So it's really important to kind of have, first of all, levels of invalidation and places that we can kind of stay dynamic based on data, based on indicators and based on statistics. And so as I look at this right now, I also want to highlight one other fact, which is that this short -term holder realized price, look at the slope of it. So in terms of the rate of change, that red level is grinding higher and higher. That is generally emblematic of a bull market because it indicates that short -term holders increasing are their cost basis over the past six months. And that's what you want to see in a bull market is people continuing to bid, continuing to bid, price grind higher, people keep bidding, and that short -term holder realized price steadily moves higher. If we look at something like the long -term holder realized price, we see almost the exact same dynamic taking place. It's much flatter. But if we really kind of zoom in on this level, and let's actually even go a little bit closer, we can see now that this is really starting to tick higher basically since August and September, right? So as this long -term holder realized price also starts to grind higher, again, this is very bullish for the long term. The last chart that I'll share with Bitcoin is I mentioned this 200 -day moving average cloud, but the one for me that's the most important is this 200 -week moving average cloud. So basically the exact same indicator, and we're solidly above that. Once again, I outlined this as a price target in January 25 ,000 and said, if we can get above there, it'll be very bullish. Sure enough, we broke above and we flipped it into support now several times. We've been writing this 200 -week moving average cloud as almost perfect support. We haven't closed below it all the way since March of this year before the banking crisis, right? So the fact that this is still working as dynamic support and it also has a positive slash rising slope is very strong for Bitcoin. And if Bitcoin is strong, as we all know, that creates a massive ripple effect throughout the entire kind of crypto ecosystem where good things can happen at the very least. I'll just leave it at that. And so I think whether or not you're someone who leans towards being a Bitcoin maximalist, whether you're a short -term trader, whether you're solely focused on investing in altcoins, you have to be watching these Bitcoin charts. And at the very least, they're all showing us bullish dynamics right now. So as far as I'm concerned, this looks fantastic. So do you see the move upwards similar to 2016 or a 2019 to 2020 type scenario? I know it's hard to predict that because like you said, the market's dynamic and we have to wait as the data comes in. But what does your gut tell you? Because as we discussed, we have these narratives, these strong narratives like the Bitcoin halving and as well as the Bitcoin bodies, which could send the price a little parabolic, maybe not to new all -time highs in the immediate, but in the short term, a strong move up. This cycle, in my opinion, is very different than prior cycles. I still expect to see the halving have a very similar effect. Everyone who I talk to, even people who are in the crypto ecosystem, a lot of people are dismissing the impact of the halving. And someone asked me recently like, based your on thesis with the halving, with these non -recessionary rate cuts, with the spot ETF approvals, doesn't everybody know all of this? Isn't this already priced in? And I was saying, I don't think it is because everyone is talking about, oh, the halving isn't going to have as much of an impact as it had in the past, if any impact at all. People are debating if the halving is even a useful indicator for price or a catalyst for price. Everyone knows about the spot ETFs, but a lot of people aren't really sure. I saw someone recently talking about, hey, Canada has had a spot ETF for over a year. How come that hasn't created? So even still, there's all this concern about whether or not the spot ETFs are going to have a catalyst for moving higher. And I don't really think too many people are talking about non -recessionary rate cuts in the third quarter of next year. So in my opinion, not much of this is really priced in yet. And I think one of the big kind of takeaways, so let me just tie this back into your question, which is what kind of cycle does this mimic or mirror? If I would pick any of them, I would say 2019, just because the risk of a recession is still there. So if we think back to 2019, we bottomed in December of 2018, and we started to move higher from there. And then COVID happened. We have some exogenous recession, which brought price down significantly. We fell from over 10 ,000 back down to 3 ,500. We could still have one of those scenarios. So I don't want people watching this to just hear me come on here and just sound like it's up only from here. We still have to consider downside scenarios. And so I would say maybe 2019 is most similar. But in the event that we can avoid that recession, get those disinflationary rate cuts, and then we have the halving catalyst plus spot ETFs coming online, I think one of the big takeaways that I had from that whole coin telegraph debacle was that we had a $5 ,000 candle in 15 minutes on unverified news. And so the thing I've been encouraging people to think about and ask this question is how does price react to an SEC press release, if not a press conference, about spot ETF blanket approvals? How does the market react to, in a sustained manner, to verified news about this getting approved? How does the market react to BlackRock really coming on TV every week, every month, pounding the table on Bitcoin, advertising, calling up wealth management shops, the whole nine yards? I mean, I used to work in wealth management. We used to get hounded all the time by these ETF companies and their sales reps to talk about their products. They wanted to take you out for lunch, this, that, and the other. So what does that look like with BlackRock, with Valkyrie, with ARK, with Wisdom Tree, with all of these companies coming out promoting their spot Bitcoin ETFs? And so if we had like, let me tie this back now because I'm going on my soapbox tangent because I get so excited. If we had a $5 ,000 candle in 15 minutes, genuinely ask yourself, what does that market environment look like when we get a formal announcement, press releases from the SEC, press releases from BlackRock and all these ETFs, so on and so forth in a sustained manner? And so I think if and when that does happen, this market environment, or that market environment is going to look completely unlike what we've ever seen in the past. Yeah, it's a good point. I've been also thinking about that. Once that news goes live, what's going to happen, right? It's going to be euphoria, people are going to go a bit nuts, but also in the back of my mind, I'm cautiously optimistic because I see in the macro, look, the stock market doesn't look that strong. It looks a little bearish. In addition, you have these economic factors where debt is at an all time high, not just for the government, but for consumers, credit card, and it seems like something's going to break. I'm not saying I want that to happen. It's just, it feels very 2008 -ish, not with the housing market, but personal consumers and their credit card debt and car loans and so forth. So I'm like, how can these two things be running in parallel? But maybe like you said, it's a completely different time. The Fed and the central banks can print money and artificially inflate certain things where they can inject money behind the scenes. I don't know, but this is where all my thoughts are. And I'm like, hmm, I don't know what's going to happen next. It's tumultuous for sure, right? And I think generally I had a very defensive kind of outlook on what macro was going to be this year. And I think everyone, regardless of what their preconceived notions were going into the beginning of the year, should be pleasantly surprised at the resilient nature of the economy, of the labor market, of the US consumer. You talk about consumer debt, but what most people don't do is divide that consumer debt by personal disposable income. And that level is at historic lows, right? It's certainly creeping up higher, but on a relative basis, relative to income, that debt is very, very manageable, actually. And I saw so many headlines about this a couple of months ago about consumer credit cards crossing $1 trillion in balances. There's still well over $2 .5 trillion in unused credit card amounts. So basically, these consumers have the ability to tap into much, much more credit if they actually wanted to and needed to. And so the fact that we're simply at a trillion in and of itself is not reflective of a negative economic environment from my perspective. And look, I'm someone who used to be a hardcore gold bug. I used to be a massive advocate of Peter Schiff and what he used to talk about. And so I used to be extremely concerned about things like deficits and credit and the Fed's money printing until you realize that it really doesn't create actionable investment advice. And at the end of the day, I think you have to ask yourself and look in the mirror, are we here to be right or are we here to make money? And so if you're a trader, you're certainly looking to be both. If you're going to make money, you almost intrinsically have to be right. But I think if you're going to have your focus be on macro, I see so many people who have really pigeonholed themselves into a corner about being very bearish. And it's that classic phrase about the broken clock can be right twice a day. And eventually, those people will be proven correct. We are certainly going to have a recession. It's just a matter of does that recession happen six months, 12 months, 24 months or 36 months down the line? And if it does happen somehow 36 months down the line, what do asset markets do over the next 36 months? So what, are you going to stay sidelined for the next 36 months because you think a recession is coming? I mean, be my guest. That's not how I'm going to invest and allocate my personal portfolio. So for me, I stopped paying as much attention to that. And I started kind of approaching it from almost like a first principles perspective and kind of diving a little bit deeper into these numbers and starting to realize those talking points are exactly that. They're bearish macro doomer talking points. But again, I don't think that they actually provide actionable sound investment advice, I guess you could say. Yeah. And that's a great point, Caleb, because I look back at 2020 when the economy got shut down, yet markets were pumping. I mean, it's almost surreal, right? When you think about it, stock market was going crazy, Bitcoin and the crypto market was going crazy in a period where there was panic, fear and shutdown, right? So to your point, yes, those things exist, but you can't focus too much on them and there's not usually that many actionable items from them. Sure. And I think the biggest takeaway from this mini conversation that we're having here on macro is it's really important to remember, and I've talked about this in the past, the stock market is not the economy.
WTOP 24 Hour News
Fresh update on "maxima" discussed on WTOP 24 Hour News
"And thanks for being with us here a political titan who is both revered and wild is dead Henry Kissinger the former Secretary of State under presidents Richard Nixon and Gerald Ford died Wednesday at the age of 100 he was known as a powerhouse when it came to US foreign policy but he also ruffled plenty of feathers during his long career I think it's because he was so direct with what he wanted to do he would stop at nothing if he felt that the policy was the right one for the United States and that included a lot of other things besides Vietnam many people blamed him for doing things that were not so up on the and up in Latin America including in Chile and Argentina and there was a really fierce opposition to what many thought was the imperialistic aims of the United States at that time that's TLP Capitol Hill correspondent Mitchell Miller now in connection with the Vietnam War opponents long argue that Kissinger should have been charged with war crimes for overseeing secret bombings of Cambodia and Laos a marine veteran out walking his family dog in June of last year was hit and killed by a drunk driver in Prince William County and now that driver has learned his punishment Luis Alfredo Perez Jr. and his Akita mix were out for a on Old Bridge Road witnesses saw a Ford Focus swerving leave the road jump the sidewalk hit Perez and his dog before crashing into a power pole causing an explosion Perez admitted to police he'd been drinking beer that night testing showed three hours after the crash he was still legally drunk he pleaded guilty to DWI involuntary manslaughter in July now a judge has given him the maximum sentence ten years in prison neil ogenstein wtlp news now a quick look at the top stories that we're working on here at wtop two more israeli hostages have been released as secretary of state anthony blinkin speaks with leaders in the middle east to extend the temporary truce embattled congressman george santos is refusing to resign a vote to expel him is pending keep it here for full details on
The Breakdown
A highlight from How Crypto Can Actually Move Past SBF
"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 Tuesday, November 7th, and we are back with The Breakdown. 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. All right, friends, we are back from that anniversary trip that you knew about. Very rejuvenating, excited to be back with you all. And today, although it is by now long old news to all of you, for the sake of completeness, we are going to wrap up our coverage of the SPF trial. Now, I'm going to focus on some of the logistics, what happens from here, and of course, spend most of my time on community reactions. So, on Thursday night, Sam Bankman -Fried was found guilty on all seven counts of fraud and money laundering. Sam's defense attorney maintains his innocence and says they will continue to, quote, vigorously fight the charges. After the verdict was handed down, Damian Williams, the U .S. attorney for the Southern District of New York, delivered an ominous warning on the courthouse steps. He said that although the cryptocurrency industry is new, quote, this kind of fraud, this kind of corruption is as old as time, and we have no patience for it. Williams noted that Sam's case moved at lightning speed, which he said was a choice, not a coincidence. He said that this case was a warning to quote every single fraudster out there who thinks they are untouchable, that their crimes are too complex for us to catch or that they're too powerful for us to prosecute. Williams warned that if the remaining fraudsters in the crypto industry don't cut it out, quote, I promise we'll have enough handcuffs for all of them. Now, Sam's sentencing will be carried out in a separate hearing tentatively scheduled for the 28th of March next year. Sam faces a statutory maximum sentence of 110 years in prison. However, of course, he will likely be sentenced to far less than that, as terms of imprisonment are often served concurrently across all charges rather than consecutively. Katie Haun, a crypto VC who previously tackled high profile crypto criminal trials as a federal prosecutor, explained the way that federal sentencing guidelines work in this context. As Sam's crimes surrounded one of the largest fraud schemes in history, the guidelines place him in the highest possible bracket when considering the size of losses and number of victims. His sentence will also be enhanced by his leadership role within the scheme and the sophisticated nature of the fraud. Sam maxed out the scale as a result of these factors, which means the guidelines would suggest life in prison as the appropriate sentence. Even if the judge reduces some of the factors to fit Sam into a slightly lower sentencing bracket, the guidelines would still indicate a sentence of 27 to 34 years in prison. Katie wrote that Sam faces likely decades in prison. Now, aside from sentencing, the major question that remains in the legal process is whether additional prosecutions are still to come. Long before the trial, the Justice Department added charges related to campaign financing. These were not included in last month's trial due to objections from the Bahamas government that the charges were not agreed to when Sam was extradited. During her testimony, former Alameda Research CEO Carolyn Ellison discussed bribery of Chinese officials. That evidence would implicate Sam in breaches of the Foreign Corrupt Practices Act. With Sam now convicted of fraud, it's an open question whether the DOJ feels the need to pursue additional charges or is satisfied with the prosecution already carried out. There is a second trial tentatively scheduled in March of next year to deal with the campaign finance charge and other allegations from the revised indictment. Over the coming months, the DOJ is expected to inform the court whether they intend to proceed with extra charges, which will be unlikely to result in additional prison time for Sam. The political sensitivity, however, of the campaign finance charge could complicate that decision. The other question is whether additional people involved in managing FTX will be charged. The three executives who testified against Sam will be sentenced alongside him in March after pleading guilty. And although he was mentioned several times during the trial and implicated in decision -making at Alameda Research, we still have no real insight into why former Alameda CEO Sam Trabuco has not been charged. Similarly, significant testimony seemed to imply that the conduct of Sam's parents could rise to the level of criminal liability. Now when it comes to reactions from the crypto community, one of the big themes was a sense of relief. Crypto researcher Noelle Acheson said the verdict came as a huge relief. While it looked increasingly likely as the trial wore on, there was always the outside chance that SPF would yet again embarrass the industry by showing that crypto fraud can be hard to prosecute. That didn't happen. And the swift and unanimous decision from the jury definitively shows that fraud is accountable. The closure of the SPF phase should help to show the next wave of investors that crypto markets can be grown up. And hopefully now we can get back to building the capital market infrastructure the ecosystem deserves. Paul Brody, the head of blockchain at EY said, it's a wonderful moment for crypto. Accountability in the sense that bad actors will be punished is important, not just for deterring bad actors, but to give confidence to those who are operating with integrity. However, another reaction was that prosecutors are likely to be even more emboldened. Preston Byrne, a partner at Brown Rednick said, I would not read too much into the SPF trial result as a forward looking matter. What's done is done. SPF is off the board as a major player in crypto, probably for the rest of his working life. What this is, is a significant and decisive victory for the US attorney's office in the SDNY, convincing a jury that fraud is fraud, even in a context where complex novel technology is involved. I would expect that the USAO has a lot more confidence today than they did yesterday that they can win other big cases against bad actors in crypto. Now at this point, it's worth noting to me that one of the things that I was watching is whether the idea that this was the crypto industry on trial would actually take root. In other words, would this be characterized as the trial of SPF or as the trial of the crypto industry as a whole? In my estimation, it was much more, much more about SPF. Part of that was that the prosecutors were pretty clear about that. And indeed that speech at the end of it all from Damian Williams really drove it home. Yes, he was warning others in the crypto industry that if they were rotten, he was coming after them. But his bigger point was that fraud was fraud, regardless of what context it was in, and whether or not it used novel technology like cryptocurrency. In other words, the prosecution made a specific decision, presumably rooted in actual belief that the Sam Bankman Freed trial was a trial of Sam Bankman Freed. Now one really interesting conversation that has generated a lot of discussion is what the appropriate sentence for Sam actually is. Unchained podcast host Laura Shin wrote, I see a lot of people debating how long a sentence SPF should get. Curious to take the temperature. Also curious to hear if you think sentences are too short or long in general and sentences for white collar crime, financial crime, et cetera. Now of the choices she gave, which were one to nine years, 10 to 19 years, 20 to 29 years and 30 plus years, 30 plus years got 58 .6 % of the vote. Laura then noted that she had misjudged how many people think this will be a long sentence and revised her post. For that new poll, her options were one to 14 years, 15 to 29 years, 30 to 44 years and 45 years to life, 45 to life got the most votes at 44 .1%. Now if that shows the general mood of crypto is particularly vitriolic towards Sam. There were some who said that his sentence should not be that long. Tiffany Fong wrote, I bet this will be my most hated post, but I personally do not root for life sentences or equivalent for nonviolent criminals. I lost my life savings to Celsius last year and obviously punishment is necessary, but I care far more about every penny getting clawed back to creditors and that they're forever barred from financial institutions. I don't personally benefit from or take pleasure in the prospect of SPF or Mashinsky sitting in prison for life. I'm sure this post will enrage people and agree to disagree, but that's just how I feel. ProPublica senior editor Jesse Eisinger said, SPF should not get 110 years. I'd say around five to seven reiterating my longstanding position that one, we should put fewer people in prison generally, two, but send more white collar criminals to prison with far shorter sentences, four, prison should be much, much more humane. Now this one generated a lot of response. DC investor wrote, understand that SPF caused serious financial harm and serious emotional harm. His fraud and his theft of user funds who believed they were being held as sacrosanct led to suicides. Five to seven years isn't nearly enough. He deserves at least 30. Eric David Paul from block tower put it a different way. He said, if the punishment for stealing 10 billion plus by defrauding hundreds of thousands of laypeople was five years in prison, it would be rational for most people in the world to commit the crime and the head of people like SPF. This is probability. They say X percent chance they get away with it. Y percent they don't. If they think 80 % they walk away with 10 billion and 20 % they go to jail for five years and keep nothing. It's a good trade. David Z Morris wrote, he won't get 110. That was never really on the table. And I understand the empathy, but based on the trial, he fully deserves 25 to 50. He has a callous manipulator who straight forwardly did not believe the law applied to him and still doesn't. He lied under oath repeatedly. DC investor followed up in another thread, give him only five years and O 'Leary just funds his next startup. You either create consequences and thus a disincentive for bad actors or none of it even matters.
WTOP 24 Hour News
Fresh "Maxima" from WTOP 24 Hour News
"Slash deals. Washington's top news. WTOP. Facts matter. It's 1045. Good morning, I'm John Dohman. Thanks for being with us. A drunk driver who hit and killed a Marine Corps veteran and his dog gets the maximum sentence in Prince William County. Luis Alfredo Perez Jr. was out walking his Akita Mix on Old Bridge Road in June of 2022. Witnesses saw a Ford Focus swerving then leave the road, jump the sidewalk, and hit Perez his and dog before crashing into a power pole. The driver, Jean T. Bonzi, told detectives he'd been drinking Guinness that night. He was still legally drunk three hours after the crash. He pleaded guilty to DWI involuntary manslaughter in July. Now he's been sentenced to the maximum 10 years in prison. Neil Ogenstein, LP News. A proposal to build what could be the biggest athletic center of its kind in Northern Virginia just took a step forward. The Prince William County Board of Supervisors has approved spending almost a million dollars to start detailed talks with an engineering firm, and Inside Nova reports that negotiations to buy the land it would sit on will continue. The complex is proposed to be built along Telegraph Road in Woodbridge and it's estimated to cost more than a hundred million dollars. It would feature an indoor pool and mechanically adjustable banked track, running along with pickleball, basketball and volleyball courts. I'm Peter Greenberg and this is today's ION Travel Minute. If you're like me, you think there may be two types of airline baggage. Carry on and lost. So let's take a look at the numbers. There were 1 .4 million mishandled or lost bags in the first half of this year. So
Coin Stories with Natalie Brunell
A highlight from Weekly News Block: NYT Finally Gets Inflation? Cost of Living Crushing Gen Z, Trillion-Dollar Budget Deficits, Vanguard Won't Join Spot Bitcoin ETF Race, SBF Guilty of All Charges
"Welcome to the CoinStories news block. I'm Natalie Brunell and in the span of just 10 minutes, roughly the same time it takes to mine a new Bitcoin block, I'll provide you with concise, insightful updates on Bitcoin and the global financial landscape so you're well informed on the week's top stories. Everything you need to know in one place, in one block. Let's go. This week, something caught my eye in a New York Times article. The Times seems to finally recognize what we all know and feel. Prices are still stubbornly high, even though they say inflation is down. The article highlighted how prices skyrocketed since President Biden took office. The price of bacon is up 21%, the price of coffee beans up 33%, and the price of gasoline is up a whopping 73%. Here's a key line in the piece. It reads, quote, Yes, inflation has fallen sharply this year, but most prices have not fallen. Only the rate of increase has. Now this seems simple, but it's critical. A lot of people out there think inflation coming down means prices will return to where they used to be, but that's just not the case. This concept of how the inflation rate has declined but not prices themselves is also crucial to understanding why inflation is often referred to as a hidden tax. So when central bankers say that inflation has come down, what they really mean to say is the rate at which we are devaluing your money is slower than before. It's atypical to see this kind of straight talk coming from the New York Times. You know, they usually publish pieces by folks like Paul Krugman, who just last month gaslit the world yet again by declaring the war on inflation is over. That is, as long as you exclude used cars, food, energy, and shelter. You know, basically everything people need. CPI today is still eating away at our paychecks at a rate of nearly 4 % instead of more than 8 % at this time last year. But either way, our paychecks are losing value, making it harder to afford the things we need, and squeezing our ability to save. This is likely one reason why younger generations are not even thinking about long -term savings anymore. A recent survey from Intuit found that Gen Z is all about soft saving. Soft saving means preferring to spend and live in the moment instead of prioritizing saving for the future. So what was the main reason cited for the new soft saving trend? You guessed it. Inflation. More than half of the respondents said that the high cost of living is a barrier to their long -term financial success, and two -thirds of them said they wouldn't have enough for retirement anyways, so what's the point? Why save? Now this survey shed some light on that underlying sense of hopelessness that younger generations feel today when it comes to their finances. They no longer feel like they can save for their futures, and instead of planning for important milestones like buying a home, starting a family, or retirement, they are instead deciding to spend on experiences, anything to make them feel a little bit better about their lives. I actually talked about this in my most recent episode with Carla and Walker, aka The Crypto Couple. This is precisely why having a money that can't be debased, like Bitcoin, is so important. It can bring hope for a generation that increasingly feels like the rising cost of living is making their financial goals unreachable. In other words, Bitcoin can fix this. As Greg Foss often says, Bitcoin is for the kids. Hopefully these younger generations do get some relief soon, but unfortunately it doesn't seem likely given that the government can't stop spending. A recent Treasury report says the government is looking to borrow another $1 .6 trillion over the next six months alone. They're issuing more debt to spend more money that we don't have. Interesting enough, the Treasury Borrowing and Advisory Committee published a report that recognized some of the risks of continuing to borrow trillions of dollars. It basically lays out the dreaded debt spiral that James Lavish explained in detail in an interview I did with him earlier this year. So to summarize it, the Treasury is flooding the bond market with new supply, which is making interest rates on the bonds rise. The higher the rates, the more we have to pay back, and that's a big problem given the huge mountain of debt that we have. If interest rates keep rising, then that's more money the government has to spend to service the debt, which increases the amount of money they have to borrow even more, which could lead to more inflation, which leads to higher rates, and on and on it goes. Now for now, it seems to be business as usual, but we know it's not sustainable over the long term. To hear the Treasury recognizing these risks shows they are well aware of the debt spiral problem. And the solution? Well, they can either choose to stop spending and risk a financial crisis given the amount of debt in the system, or they can choose to try to print their way out of it. You know I've got my bets on which option they'll go with. If the government continues to print more money, then investors will need to find assets that are scarce and resistant to inflation, like Bitcoin, and a spot ETF Bitcoin approval would make it more accessible than ever before. Many firms like BlackRock, Fidelity, ARK Invest, they're vying to become the first spot Bitcoin ETF to hit the US market, and they all currently are awaiting SEC approval. But one firm that isn't throwing its hat in the ring is Vanguard, the second largest asset management firm in the country. Vanguard CEO Tim Buckley made headlines over the weekend when he said Vanguard won't join the Bitcoin ETF race, saying quote, Vanguard focuses on asset classes with an intrinsic value and capable to generate cash flows like equities and bonds. With all due respect, Mr. Buckley, Bitcoin's intrinsic value is linked to the properties that make it a superior form of money. It's scarcity, portability, divisibility. Yes, it doesn't offer a yield, because just like gold, if someone holds it, it doesn't have any counter party risk. If Vanguard is only in the business of cash flowing assets, then it makes perfect sense for why they wouldn't be interested in offering a spot Bitcoin ETF. All eyes now are on the January 10th deadline when the SEC needs to make a decision on ARK Invest's ETF application. But a lot of people are speculating that the real delay has to do with the legal issues surrounding Grayscale and its parent company DCG. Maybe we'll go into that another week. But there are definitely some out there wondering if BlackRock plans to buy Grayscale and seed its eventual ETF with the more than 600 ,000 Bitcoins in the trust. To be continued. Switching gears now to the courtroom. The verdict is in on Sam Bankman -Fried, and as you probably know by now, he was found guilty on all seven counts. The so -called trial of the century has come to a close. It marks the end of the stunning collapse of FTX, which saw billions of dollars stolen from millions of victims in one of the largest financial frauds in history. For Bitcoiners, the verdict represents a moment of cleansing and the industry maturing as it moves forward on more stable ground. Michael Saylor explained this idea well in a recent Bloomberg interview. I think it's an important milestone in the growth and the maturation of the industry. The crypto industry has been plagued by inexperienced entrepreneurs like Sam, unreliable custodians like FTX, incompetent creditors, a dozen went bankrupt in the last year or two, unscrupulous promoters. And their failure is a necessary rite of passage for an industry that's going to lead to a new, more stable, more scalable ecosystem that will be based on Bitcoin. Public companies like Block, MicroStrategy, Marathon, a dozen Bitcoin miners that are public, institutional money managers like Fidelity and BlackRock, and regulated banks when they eventually become custodians. The offshore crypto exchanges, the stablecoins, the crypto tokens, the DeFi projects, they're going to shrink, fade into background and decouple from mainstream and institutional digital assets marketplace that will be based on Bitcoin. The FTX case highlighted the difference between Bitcoin and crypto. This fraud was only able to grow to the size that it did because SPF could print FTT tokens out of thin air. No one can do that with Bitcoin because no one can control the network or manipulate it. That's what makes it so different. And that's why criminals like SPF don't like it so much. Miller Value Partners portfolio manager Bill Miller IV echoed this sentiment in another interview. Bitcoin is very different from crypto. So crypto was convicted yesterday. Bitcoin is still going very, very strong. The network's as strong as it's ever been. There's more users than there's ever been. So we continue to see very positive trends in Bitcoin, not so much in crypto. Bill isn't wrong either. Bitcoin's hash rate just reached a new all -time high last Saturday. The network's security has never been stronger. As crypto has faltered, Bitcoin has strengthened. For too long, Bitcoin's reputation has been tarnished by scams and frauds littered throughout the broader cryptocurrency industry. US Attorney Damian Williams, the prosecutor in the FTX case, delivered a strong message to the crypto space after the conviction. He said, quote, this case is also a warning to every fraudster who thinks they're untouchable, that their crimes are too complex for us to catch, that they are too powerful to prosecute, or that they are clever enough to talk their way out of it if caught. Those folks should think again and cut it out. And if they don't, I promise we'll have enough handcuffs for all of them. SPF faces a maximum sentence of 115 years behind bars and his sentencing date is set for March 28th. After this verdict, perhaps scammers might think twice before launching their own token or offshore exchange. Who knows? Maybe more of them will choose to work on Bitcoin instead. A girl can dream. That's it for the news block, your weekly Bitcoin and economic news update. I'm Nathalie Brunel. Make sure you're subscribed to Coin Story so you never miss an episode. This show is for educational purposes and should not be construed as investment advice. Until next time, keep stacking.
WTOP 24 Hour News
Fresh "Maxima" from WTOP 24 Hour News
"Electric cars, but a new survey finds they're among the most successful on the road. For EV users, there are reports of cars not charging correctly, tech inside the car not working well, also cold weather knocking down the range you get on a charge. The heater, the seat heaters, the steering wheel heaters, those tend to erode the amount of driving range that you normally would get. Mike Quincy with Consumer Reports, according to their survey, compared to gas cars, EVs were 80 % more likely to have problems. But plug -in hybrids did worse. The battery systems for the plug -in hybrids are way bigger and heavier than regular hybrids. Regular hybrids did the best, and as for the problems out there, he expects car makers to address them, but that's why they advocate. That requires not to be early adopters of new types of cars. Mike Morillo, WTOP News. A drunk driver who hit and killed a marine veteran and his dog gets the maximum sentence in Prince William County. Luis Alfredo Perez Jr. was out walking his Akita Mix on Old Bridge Road in June of 2022. Witnesses saw a Ford Focus swerving, then leave the road, jump the sidewalk, hit and Perez and his dog before crashing into a power pole. The driver, Jean T. Mosey, told detectives he'd been drinking Guinness that night. He was still legally drunk three hours after the crash. He pleaded guilty to DWI involuntary manslaughter in July. Now he's been sentenced to the maximum 10 years in prison. Neil Ogenstein, WTLP News. Some expensive coats are being taken at gunpoint in Northwest D .C. NBC4 reports it's happened at least three times in the last two days. Coats from brands like Montclair and Canada Goose can cost nearly $2 ,000 each. DC police suspect they're being resold online. At least some of them are. A woman in Georgetown says she was walking when a group of girls noticed her wearing a Canada Goose
Crypto Banter
A highlight from The BEST Performing Altcoin For This Bull Run! (FOMO Imminent!!)
"Solana has exploded over a hundred percent in the past two weeks and today I'm going to show you why I think this run is just getting started. I'm going to show you what caused the run. I'm going to speak to the founders, the OGs. I'm going to show you who's building on the chain and then I'm going to show you why Solana can easily do another 10x in the coming bull market. We're here in Amsterdam and we're here for Solana breakpoint 2023. Last year we were in Lisbon and at the end of Solana breakpoint FTX collapsed and all hell broke loose. The big question is, has Solana recovered and what's the vibe? That's what we're going to find out today. Let's go! What's the vibe? The vibe, resurrection. What that direction is, is one giant global state machine that unifies the entire world at the speed of light, as fast as it can allow. Post FTX, Solana was nearly the key data. But here we are, a year on, a big test for Solana, its developers and its community. And what's here? More people, more quality and higher caliber. Less retail, less tourists and a whole lot more brain power. This reminds me of brain power that I've only ever seen once before and that was at E -DEBCON in Prague in 2018. The two so similar. Also declared dead at 75 in the 2018 bear market. Ethereum made a remarkable recovery and also rose from the ashes. Remember, there's no other channel in crypto that brings you direct access like this so quickly. From the industry's leading movements, builders and brains. From Bitcoin in Miami to Ethereum and Vitalik to CZ and Binance in Paris. We're here to speak to CZ. And now here we are in Amsterdam talking all things Solana. And if you're enjoying this coverage, hit the like button and subscribe to the channel. Anyway, let's get on with the show. Let me tell you why we are so bullish on Solana. Remember when we came here, we came here neutral. Now we're bullish. Why? We have over 300 talks, over 3 ,000 people across core engineers, app developers and creators. It seems that the typical retail investor was worried about price and the overhang of the FTX tokens. But the builders, well, they just kept their head down and just kept building. Why on Solana? Because this is only possible in Solana. Building what, you ask? Well, firstly, they built significant network upgrades. The most significant being FireDancer, a re -engineering of the Solana validator client from the ground up going live on testnet. FireDancer is the first brand new full re -implementation of a validator for Solana optimized at every level for maximum performance, maximum speed and network reliability. Think about it. Solana was criticized for its downtime. But it's been up and running for about 10 months straight. And as Anatoli says, they solved this problem with a very clever piece of engineering. At last break point, we finally shipped this major upgrade that implemented local fee markets that isolated how applications generate fees and hotspots between each other. Anatoli also says they've taken the final step in making Solana truly decentralized. And it's the last step before Solana goes off beta.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1450: I Expect Bitcoin ETF Approval By End of Month
"In today's show, I'll be breaking down the latest Bitcoin technical analysis. Also, Sam Bankman freed. He is found guilty on all seven charges in the FTX fraud trial. Quoting Max Kaiser, tough talk when it comes to the minor league drug Adderall ish corner like SPF, but where's all the bravado when Jamie Diamond gets caught manipulating markets and defrauding the public again or the next crooked Warren Buffett bailout? He makes great point. Also in today's show, Bitcoin to the moon. Send it. I'm going to be sharing with you the top five Bitcoin price predictions for twenty twenty four and beyond. That's what's up. Also, the latest from Cathie Wood of ARK Invest, also a twenty seven hundred percent Bitcoin price explosion is incoming courtesy of one catalyst, according to the BitMEX founder Arthur Hayes. We'll also be talking about breaking news. The Valkyrie CIO expects the spot Bitcoin ETF approval before the end of the month. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo, what's good, crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at CryptoNewsAlerts .net. Again, that's Crypto News Alerts dot net. Welcome, everyone. Today is podcast episode number fourteen hundred and fifty. Can you believe it? I'm your host, JV, and today is November 3rd. Welcome to Moonvember of twenty twenty three. Let's kick off today's show with our market watch as we do each and every day. We got Bitcoin up about a quarter percent, hovering just under thirty five thousand. We have Ether up point three percent trading at eighteen hundred dollars. Cardano, one of the top gainers, up five and a half percent and also XRP barely in the green. And if we are in doubt, they say you need to zoom out. Let's look at the one month. Wow, that's much more sexier, isn't it? Now we have Bitcoin up twenty seven percent for the month. We got ETH up about 10 percent. Solana is up almost 70 percent. Cardano up twenty three percent. XRP up fourteen percent. BNB up seven percent. Personally, I love it when everything in crypto is a winner. It don't get no sexier than that. And look at Chainlink up fifty two percent for the month. Good lord. And check it out. Coin market cap percent in just under one point three trillion with about forty five billion in volume in the past 24 hours. Bitcoin dominance pulled back a little bit, currently at fifty two point seven percent, and the ether dominance in the 16 percentage range for the first time I have ever seen that I could recall. It's currently at sixteen point nine percent as Bitcoin dominance continues to outpace the rest of the market, especially Ethereum. And checking out the top one hundred crypto gainers of the past twenty four hours for chain up fourteen and a half percent trading at three dollars and twenty cent and Oasis Network up twelve percent trading at six point two cents, followed by the trust wallet token up almost twelve percent trading at a dollar twenty three and checking out crypto bubbles so we can see the top gainers for the past week. Massive shout out to Emilio. I appreciate the super chat. Fam, you're way too kind. Much love, much respect. He just said you are amazing. Nah, I think you're amazing. And I appreciate the orange so we can orange pill more mofos and help change the world. Let's freaking go. Much love, fam. But as we can see on the crypto bubbles on your screen, we got a lot of gainers overall. That means the market cap is pumping and a rising tide rises all ships and checking out the crypto greed and fear index. We're currently rated a sixty five in greed. Yesterday was a seventy two last week, a seventy and last month a forty nine, which is neutral. So there you have it, my fam. What's your thoughts on the current Bitcoin price action? Let me know. Are you pumped up for Moomvember? I sure as hell am. Let's dive into our Bitcoin technical analysis for the day. Check out the charts with a Bitcoin price action is likely to go next. Bitcoin broke below thirty five G's baby after the November 2nd Wall Street open, as analysis warned of overheated derivatives. As you know, derivatives are financial tools of financial destruction. Yeah, for real. Now Bitcoin under does the post fed gains. We're currently tinkering just under that thirty five thousand, which is now back at a resistance. The highs had come on the back of the encouraging language from Jay Powell, the chairman of the Federal Reserve, who in a speech suggested the interest rate hikes might soon end. Now, the Fed opted not to change the rates at the latest meeting on the Federal Open Market Committee, which was November 1st quoting their press release. Recent indicators suggest the economic activity expanded at a strong pace. In the third quarter, job gains have moderated since earlier in the year, but remain strong and the unemployment rate has remained low. Inflation remains elevated and accompanying press release stated. They also shared here that the U .S. banking system is sound and resilient. Sure it is. Tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring and inflation. The extent of these effects remain uncertain. The committee remains highly attentive to inflation risk. We all know they're full of ish, right, to say the least. And quoting crypto analyst, Bitcoin breaks out, reaches a new yearly high, which is currently just shy of 36 G's. Now, not a massive breakout, but as long as we say above 34 .8, which we currently are, the next target is 36 .5 to 37 ,000. And the altcoins will follow after, which is typically what seems to go down. Now, down over a thousand from its highs. Bitcoin was worrying some with derivative markets, particularly in the focus, quoting Charles Edwards at Capriole Investments. All Bitcoin derivatives markets are overheated at present. This captures the perps, futures and options. Stay safe out there. And also, we have reacting popular trader school agreed that arguing it was now the spot market to charge of saving the Bitcoin price strength, as he shares here, something to be aware of when sizing up positions currently, when derivatives get hot. This puts increasing focus on spot market to support the current prices and the trend. That's right. In his own analysis, we also had material indicators concluding caution should be applied to the current Bitcoin trading environment, meaning expect more volatility ahead and uploading the snapshot of liquidity on the Bitcoin order book for the largest global exchange, Binance. It warned support levels were apt to disappear quickly. A form of a rug pull. So you have been warned. Newcomer support gaining liquidity at this time lay at both 34 and 33 .5. So there you have it, fam. Again, how many of you are currently bullish on that? King crypto. And with that being shared, now let's discuss our next story of the day. The latest from Michael Saylor. He was recently interviewed on the news and shared some very positive sentiment in the Bitcoin market. Also, he has been a dollar cost averaging and stacking stats. This week, the Bitcoin price came within a hair of thirty six. I think we hit like thirty five nine ninety during our watch party before abruptly reversing and correcting to thirty four to fifty. But after nearly a 30 percent run over the past month, it is natural for the price to cool off as some traders take profit and market participants evaluate whether or not the catalyst for the rally remain valid. Now, despite the intraday price action, which saw almost five percent drawdown, a number of analysts remain bullish on Bitcoin naturally, and some expect another gamma squeeze. If the Bitcoin price manages to push through the thirty six three hundred level, we're only like four hundred dollars off of that right now. Just FYI, permables like MicroStrategy CEO Michael Saylor appear unbothered by the whipsaw price action. And on November 1st, MicroStrategy announced the October purchase of one hundred and fifty five more Bitcoin for five point three million. As the outlines here in October, MicroStrategy acquired additional one hundred and fifty five BTC for five point three million bucks, now holding one hundred and fifty eight thousand four hundred BTC like, whoa, and what's the most mind boggling? Saylor didn't even get into Bitcoin until twenty twenty. So it goes to show you someone can come here in twenty twenty three and become an even bigger whale than Michael Saylor. In fact, the likes of the Black Rocks of the world put Michael Saylor to shame because we're talking about mega mega mega whales on a massive scale. And when asked about the upcoming Bitcoin having during an interview on Squawk Box, here's what he had to share. Most of the natural sellers of Bitcoin in the market right now are Bitcoin miners and they have to sell to cover their electricity bills and capital costs and retire their debt. That's about a billion dollars per month worth of selling into the market. The protocol forces that to be cut in half as of next April or late April. And he also says, so you're going to see twelve billion bucks of natural selling per year converted to six billion of natural selling a year and at the same time as things like the spot ETFs increase the demand for Bitcoin. So that's why all of us are fairly bullish over the next 12 months. How many of you are bullish? Let me know. Demand is going to increase and supply is going to contract. And this is fairly unprecedented in the history of Wall Street. That's what's up now is a pretty ideal entry point for Bitcoin, according to Saylor. Also, he was recently interviewed and I actually transcribed this video clip when he was speaking on Squawk on the street. And I feel this is very relevant. Here's what Saylor says for the industry to move to the next level. We need to migrate to adult supervision. We're going to need the big banks to become the crypto custodians. We're going to need Wall Street to take a role and we need to rationalize away from the one hundred thousand crypto tokens. You know, the yo yo coins that people are manipulating to Bitcoin. Bitcoin is an asset without an issuer. It is the one universally recognized protocol that is a commodity in the space. And so when banks on Wall Street and responsible custodians are managing Bitcoin and the industry takes its eyes away from all the shiny little tokens that have distracted and demolish shareholder value, I think the industry moves to the next level and we 10x from here. Now, what's another 10x from the current price action we're talking about roughly? What is that? Three hundred and fifty thousand dollars per BTC. Send it and let's frickin go. Also quoting him here, I think the liabilities or the early crypto cowboys, the crypto tokens, which are unregistered securities, the unreliable crypto custodians for the industry to move to the next level. We're going to need to migrate to adult super vision. And I shared with you the rest of that quote. So there you have it. Let me know if you agree or disagree with the one and only giga Chad Michael Saylor. Next story of the day. This is breaking news. SBF has been found guilty in all seven fraudulent charges. Yeah, this is wild. Yeah, here we go. I'm going to read all this to you. Former FTX CEO Sam Bankman Freed was found guilty of all seven charges by a jury in his criminal trial in New York after about four hours of deliberations, meaning it didn't take long. Bankman Freed was found guilty of two counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of commodities fraud conspiracy and one count of money laundering conspiracy. Good Lord. That's a lot of charges and it's just getting started. He'll be back in court in March to continue with some more charges to probably get guilty of. We'll return to the court for sentences by New York District Judge Lewis Kaplan March 28th. So that's the date is right before the having. Government prosecutors will recommend a sentence, but Judge Kaplan will have the final say. Now, Bankman Freed's crimes each carry a maximum sentence of between five and 20 years in prison with the wire fraud, wire fraud conspiracy and money laundering conspiracy carrying a maximum of 20 years sentence in a press conference outside the court, the New York Southern District U .S. Attorney Damian Williams called Bankman Freed's crimes a multibillion dollar scheme designed to make him the king of crypto, right? The Michael Jordan of crypto, the Warren Buffett of crypto and of one the biggest financial frauds in American history, Bankman Freed's attorney Mark Cohen said in a statement, we respect the jury's decision, but we are very disappointed with the result. Naturally, Mr. Bankman Freed maintains his innocence and will continue to vigorously fight the charges against him. Anyone here in the chat. We have over 200 people in the live. Anyone believe he is innocent? I am just curious if there's any outliers out there. Anyways, other key FTF execs, including former Alameda CEO Caroline Ellison, FTX co -founder Gary Wang and former engineering head Nishad Singh have all pleaded guilty to various charges and work with the government to testify against Bankman Freed in the five week trial. Now, Bankman Freed had pleaded not guilty to all the charges. And during his trial, he took the stand to maintain his innocence against the best wishes of his lawyers who told him to shut the what up, just saying, and marking the FTX November 2022 collapse as a number of big mistakes I made. He denied any wrongdoing in the FTX relationship with Alameda, attempting to distance himself from key decisions, which we all know is not true, according to the testimonies of their execs, Bankman Freed pinned the blame on Gary Wang for creating a function that allowed Alameda to trade funds on FTX that it didn't have and claimed he wasn't entirely sure what happened. Oh, I don't know what happened with Alameda's line of credit, which ballooned to billions in the collapsing crypto market of 2022. In his testimony, he also blamed Caroline Ellison for not focusing on risk management. How are you going to blame your ex? That's just why. Anyways, he didn't believe he defrauded FTX customers by taking over eight billion worth of their funds. Instead, he framed it as Alameda just borrowing from the exchange. Yeah, borrowing from investors without their permission is called stealing. I just wanted to point that one out. Now, Max Kaiser responded to this attorney who spoke out and he said, this is tough talk when it comes to the minor league, the drug Adderall ish coiner like SPF, but where's all the bravado when Jamie, the tapeworm diamond, the best the CEO, JP Morgan Chase, gets caught manipulating markets and defrauding the public again or the next crooked Warren Buffett bailout? You talk a good game, but you're no different than SPF. And I think Max makes some excellent points. The big dogs get away with this all the time, of course, but clearly there's levels to this ish, if you know what I mean. Now, what are your thoughts surrounding this case? How do you think this will likely continue to play out in March as they continue with the court trial facing more charges he's up against? Let me know, fam. I appreciate that. I got some very bullish predictions to share with you. In fact, I'm going to be sharing with you the top five Bitcoin price predictions for twenty, twenty four and beyond. Bitcoin continues to circle its highest levels in 18 months. Again, the annual high for the year is currently almost thirty six thousand dollars, but let's dive right into the predictions. First and foremost, Matrix Port predicts forty five thousand within two months. So two months from November would mean January. I could definitely see Bitcoin hitting forty, fifty thousand easy peasy before the halving. But let me know your thoughts. Now, that prediction came from Matrix Port, the crypto trading firm founded by Jihan Wu, himself a founder, a Bitcoin mining giant Bitmain in a blog post in late October. Matrix Port doubled down on a forty five thousand year end price targets. That's the Christmas target. Let's go, Santa, which is initially revealed in January. It was based on a handful of in -house models with Matrix Port also successfully predicting Bitcoin's October gains. Quitting them here, Bitcoin is breaking above the July thirty one five resistance showing that forty five is achievable by the year's end. And again, I think that's a very doable target. But let me know your thoughts. The next prediction comes from Bitcoin. They say new all time high pre halving. I also agree with that, especially if we get the ETF approval. I would anticipate above and beyond sixty nine thousand before the April twenty twenty four halving, but that's only if you know what I mean. We'll see how this plays out. The halving is a watershed moment. We all know the blocks of subsidies get cut in half for the miners in September. Bitcoin stated Bitcoin would surpass its current sixty nine thousand peak before April of twenty twenty four. Now they shared here, no, Bitcoin is not going to top before the halving. Yes, it's going to reach a new all time high before the halving. No, Bitcoin is not going to one hundred and sixty G's because the magnitude of every pullback is large. This means it'll peak after the halving in twenty twenty four. And yes, the target price is around two hundred and fifty thousand dollars. I love that. That's right in alignment with Max Keiser's short term target of two hundred and twenty thousand. Now, they also shared this chart. Both the all time high and the post halving two hundred and fifty thousand target came courtesy of the Elliott Wave theory charting, which we cover commonly here in the show with Bitcoin mimicking the behavior from the previous cycles. And you can see their estimation of how the Bitcoin price is likely to rise is coming directly from Bitcoin. Now, Bitcoin did, however, make room for a total of four pullbacks. As outlined in this chart, you can see one, two, three, four. Before we hit the peak at five, quoting them here, there will be one pullback before breaking to a new all time high, followed by another pullback at around one hundred and twenty five thousand. Additionally, there will be two more pullbacks after the halving, which are not demonstrated here. Now for the next one, three Bitcoin price models, one hundred and thirty thousand dollar target zone. That's right. Let's freaking go. Quoting CryptoCon here, I'm prepared for the lower prices, but the stars are aligning at one hundred and thirty for the Bitcoin this cycle. And the concept also hinges on the halving events and the next peak should come around four years after the sixty nine thousand dollar move in November of twenty twenty one. We all know everything is cyclical and Bitcoin every four years driven by the halving. Now the one million dollar question. How about a one million dollar Bitcoin price target leads us to Kathy Wood of ARK Invest, the CEO and chief investment officer, has joined former BitMEX CEO Arthur Hayes in doubling down on her seven figure price prediction when this could happen, understandably up for debate. But changing macroeconomic tides have emboldened what remains a daring Bitcoin price prediction. In October, Hayes maintained that the path to a one million dollar coin was in full effect thanks to the macro reality. Now quoting BlockWorks on the Margin podcast right here, this was shared actually on an interview. If people lose faith in the bond market and this fiat artificial construction we have created over the past 80 to 100 years, this global economy and how it has been structured, if we lose confidence in that, then the amount of money that's going to be looking for an alternative is going to be something that we have never seen before. He shared over in an interview and speaking of Kathy Wood, she was just on Bloomberg and here's what she shared when she was asked, what's a better hedge against inflation? Is it Bitcoin or is it gold? And very boldly she said, Bitcoin hands down, hands down is a hedge against both inflation and deflation. Yes, so is gold, but Bitcoin is digital. And if you look at the incremental demand we are going to see, but gold already has its demand. You know, it happened already, right? Bitcoin is new and institutions are barely involved in the young people would much rather prefer to hold Bitcoin than hold gold preach. So it's interesting that both gold and Bitcoin are hedges against deflation, but Bitcoin has been doing better recently preach and Bitcoin naturally will consider outpacing gold. I think it was Max Kaiser who said for every dollar, the Bitcoin price action increases. I'm sorry for every dollar, the gold price increases expect Bitcoin to go up by over $20 meaning it will continue to outpace gold by a factor of 20. Let me know if you agree or disagree fam. And we spoke about Kathy Wood and her a $1 million price prediction. In fact, she even has a bullish case scenario by the year 2030 of Bitcoin hitting $1 .48 million. Keep that in mind. But now let's discuss Arthur Hayes, the BitMEX founder predicting Bitcoin price to rally 2700 % taken us to $1 million per coin. And then we'll dive into the latest updates with the likelihood of the spot Bitcoin ETF being approved this month in November. According to the major asset manager, here we go. BitMEX co -founder Arthur Hayes is doubling down on a prediction. The Bitcoin is destined to reach the seven figure price. Hayes says that a monetary policy tool known as the yield curve control will act as the catalyst for Bitcoin to reach that 1 million Mark, a gain of around 2 ,700 % from the current level. Send it, let's go. Central banks use the yield curve control to influence the longterm interest rate level by buying longterm bonds as much as possible to prevent the rate from rising above the intended target. And according to Hayes, the entire U S government is enabling a loose monetary policy environment. Even as the fed continues tightening. Now the BitMEX founder first predicted seven figure Bitcoin earlier this year in March in that essay, which I covered here on the show. And at the time, he argued that China's loosening of his monetary policy would trigger Bitcoin to explode to $1 million per coin. Hayes also says the decision by the fed mid this week, uh, pause the rate hike interest rate suggests it's time to pump it up, pump, pump it up. And according to the BitMEX founder, the feds decision would trigger other central banks to also ease their monetary policy. Quoting him here over to you, BTC, let's go. I shall increase the pace of my rotation out of treasury bills and into Bitcoin and ish coins. Now that the fed had paused over two meetings, every other central bank has cover to print expect massive stimulus coming from China, Europe and Japan. So there you have it coming directly from crypto Hayes. Just blaze. Let's get it now for the moment you have all been waiting for. Let's dive into our featured story of the day and discuss a Bitcoin ETF being approved this month in November. And what would that mean for the crypto market? Let's break this baby down. We have Steven McClurg, the chief investment officer at Valkyrie investments has put forth a strong indication that a landmark approval from the U S SCC for a spot Bitcoin ETF can transpire by the month's end. Send it and let's go. The approval of the spot ETF is currently one of the biggest factors influencing the Bitcoin price as well as the entire crypto markets trajectory. You can say that again now alongside the financial giants such as black rock, the world's largest asset manager fidelity, which is about half the size of black rock. We got Vanek, we got Invesco, we got Valkyrie, one of the companies at the forefront of the battle with the SCC over the spot ETF. We also have grayscale. Don't forget the GBTC product. We have the firm managing to Bitcoin related ETFs at the moment. Now Valkyrie Bitcoin and ether strategy ETF and the Valkyrie Bitcoin miners ETF with a combined asset value of 51 .1 million at this time. And they also have active filings for spot Bitcoin ETF. Now McClurg, citing the latest amendments to Valkyrie spot, Bitcoin ETF app anticipates the SCC will issue another series of comments within the next weeks, potentially setting the stage for the approval of the 19 before rule changes by the end of the month. Send it quitting him here before anything else happens, we get a second round of comments and I believe we'll probably get those comments in the next one to three weeks. A late November approval likely means a February launch. So note that if we get the green light in November, it means the Bitcoin ETF would likely launch a few months later in February, which would be right in time again for the Bitcoin having. Now he also shared with ETF .com this interview suggesting a timeline for the SCCs response to these crucial amendments. He also argues the SCC can wait until January to ask the applicants to put the final touches on their S one filings. That's the other alternative scenario. Now Nate Geraci, host of the ETF prime pod explain that Valkyrie CIO suggests SCC can approve the 19 B fours exchange rule changes for the spot Bitcoin ETFs by the end of November and then the S one registration statements early next year. These don't have to be approved at the same time, so keep that in mind. Though they need both for the ETFs to begin trading. Now in recent weeks, the SCC has been actively communicating with ETF apps and disclose that the agency is carefully scrutinizing all spot Bitcoin ETF apps. The focal points of the SCCs inquiry have pertained to the comprehensive explanation of various risk disclosures, methodologies concerning index usage and net asset value computations, environmental risk inclusions, as well as detailed insights into custodial practices. Recent amendments to filings by entities such as BlackRock and VanEck have been augmented to eludicate how initial fun seating could be conducted and also note that BlackRock already began seeding their ETF back in October, which was last month. This is something that Larry Fink their CEO has already disclosed. Now because of that, industry experts remain cautiously optimistic. We have Matt Hogan, the CIO of bitwise asset management, highlighting lingering concerns, quitting him here. Market manipulation is still a potential stumbling block. Custody isn't a wrap, so there is still a lot of work to do, he stated. Now the anticipation isn't purely speculative. The man forecast suggests substantial interest. McClurg envisions about 10 billion bucks flowing into these products within the first one to two months post launch. While bitwise projects 50 billion in inflows within the first five years. I think that's extremely conservative. I could see trillions of inflows within five years, but hey, to each their own. Valkyrie revised its spot Bitcoin ETF filing October 30th a few days ago with an S1 registration statement submitted to the SCC outlining the Valkyrie ETF. The proposed fund shares are intended to be listed under the ticker BRRR on the NASDAQ stock exchange. Valkyrie updated their app and a part of a wider trend as several firms have similarly refiled their spot ETF apps signaling a concerted effort toward regulatory compliance and optimism for approval. Bloomberg ETF analyst, James Saferard identified these amendments as positive signals for progress and possible imminent approvals. Let me know which you think will get the green light first from the SCC. We all know it's imminent. We all know it's going to happen, but when is it going to be November? Is it going to be December? Could it be January? Could it be March? Let me know in the live poll we have on the screen. I have some bonus content to share with you before we dive into the live Q and A. This is from jury and Timur. Why is this so relevant? He is the head of macro at fidelity fidelity being a four and a half trillion dollar asset manager. He's the one who predicted a billion dollar Bitcoin price by the year 2038 and here's something he just recently shared. He shares some incredible threads I want to share with you. Bitcoin is volatile, but it's scarcity and adoption curve create the potential for it to be a high powered hedge against monetary shenanigans. I think of it as exponential gold and in this chart it shows you Bitcoin going past $1 .2 million per coin. That's pretty sexy. Gets me excited as he shares here. One of the attributes of Bitcoin is that it's a network asset and as such it's adoption curve has followed the typical S curve shape. We have seen many of the S curves throughout history and he continues here in the thread. The question, where is Bitcoin's journey along that S curve? A network assets value is driven by its adoption curve, so the slope of that curve matters a lot. Makes a good point. And when I first went down this rabbit hole in late 2020 it's adoption curve, which I defined as the number of non -zero addresses was very steep. It resembled the S curve for mobile phones during the 1980s and the 1990s, which was pretty promising. I'm going to read you a few more now. However, as the real rate narrative changed from dovish in 2020 to hawkish in 2022, the adoption curve flattened and it is now closer to the slope of the internet adoption curve from the two thousands and it has not made much progress since 2021. Now we also had some other threads which are very valuable. I'm just going to read the lead part of it with Bitcoin moving up. Once again, will its adoption curve accelerate as it did a few years ago and how does the macro trend on rates affect it? There's some very insightful data. If you want this, check the show notes below the video in the description. I'll include all of this. And he had one more good thread continuing the discussion from the recent thread on Bitcoin. I highly recommend you check this out because again, this is the head of macro over at Fidelity, one of the world's largest asset managers. So there you have it, my crypto fam and don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in our live Q and a, and I look forward to seeing you on tomorrow's episode.
Thinking Crypto News & Interviews
A highlight from SAM BANKMAN-FRIED CONVICTED & GOING TO JAIL! DXY CRASHES CRYPTO PUMP INCOMING!
"The Bernie Madoff of crypto, Sam Beckman -Fried, has been found guilty on seven counts in his fraud trial. Also, the DXY, the dollar currency index, is crashing. That means assets are about to pump. Get ready. Let's break it down. Welcome to the Thinking Crypto podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five -star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, Sam Beckman -Fried found guilty by jury in landmark crypto trial. The jury found the former executive guilty after a month -long trial where the prosecution presented nearly 17 witnesses to the defense's three, with Beckman -Fried himself taking the stand. FTX co -founder Gary Wang, former head of engineering Nishad Singh, and former Alameda CEO Caroline Ellison testified against their former colleague. Sam Beckman -Fried's sentencing hearing is scheduled for March 28th. A hearing will be held where the judge Louis Kaplan, who oversaw the entirety of Beckman -Fried's trial, will decide his sentence. The former executive faces a maximum sentence of 115 years. Folks, this is great news. This is what we wanted to see. This guy needs to go away for a long time. He is a fraudster and a scammer. And as stated, he is the Bernie Madoff of the crypto industry. What he did was just an old -fashioned crime here. It had nothing specific to do with crypto. Yes, crypto was part of the means or the assets, but this could have been done with cash. A bank could do this. They can co -mingle and steal customer funds. This is what he was essentially doing. So great news. It's something that I think the entire crypto industry and market was waiting for so we can put it behind us and move forward. Now, I want to share a clip of a US attorney of SDNY, Damian Williams, his statements he made, because this is coming from someone who has nothing to do with crypto. He's just part of the law system and he had some really great statements. Let me play it here for you. My name is Damian Williams and I'm the United States attorney here in the Southern District of New York. Sam Bankman -Fried perpetrated one of the biggest financial frauds in American history, a multi -billion dollar scheme designed to make him the king of crypto. Here's the thing. The cryptocurrency industry might be new. The players like Sam Bankman -Fried might be new. But this kind of fraud, this kind of corruption is as old as time and we have no patience for it. So great statements here from Damian Williams. And as stated, this is a fraud as old as time. Sam Bankman -Fried didn't come up with a new scheme. He just did an old fashioned crime. And the problem here was that the regulators, like the SEC, who met with Sam Bankman -Fried multiple times, like Gary Gensler, did not do any investigations. And he was meeting with these folks, making campaign donations while committing big time fraud. And as Damian said here, he perpetrated one of the biggest financial crimes in American history. And now he's going to have to go to jail. So this is a good day, folks. We want to put this behind us and keep moving forward. The market needs us to move forward from this. And from a public perception standpoint, we need to show that, hey, this was a bad actor and there are good actors in the crypto industry. And this technology and asset class will continue to grow. An example of the takeaways that are coming out as a result of the FTX collapse, as well as Celsius and so forth. And that is many folks in Congress and the Senate are pushing for what's called proof of reserves to make sure all these crypto exchanges have their customer reserves. It's 100 % back and there's no commingling and these things happening. In hindsight, it's like, this should have been done a long time ago, but this is the failure of Congress, as well as the regulators to not act sooner. This is a new technology. We're in a global competition and other countries are moving ahead. The UK, the EU have passed crypto regulations. The United States has not. There's still bills stuck in the house and there's infighting, right? It's nonsense. So we need to get these things going. So here, I'll just read a headline from October. US senators set in motion a bipartisan proof of reserves bill. So we need to make sure that these things are in place. Now, a great exchange that I've been using since 2018 and that is a sponsor of this podcast is Uphold and they have proof of reserves. They back their customer funds 100%. So they do audits as well. So you can verify that you have a lot of transparency and I trust this platform. I've interviewed the CEO, the CFO, and I've been using them for a long time. You can also trade precious metals and over 37 Fiat currencies on this platform. So if you'd like to learn more about Uphold, please visit the link in the description. Now, folks, what's interesting is that Bitcoin right now is still consolidating. So we can see here, not much happening. It kind of pulled back below 35 ,000, but that's fine, right? It's chopping. It's building the support levels, right? There's a move upwards. We break through resistance. We build support. Then we move up and break through another resistance. It's just market cycles playing out. So no need to panic. Bitcoin is back below 35. Some people are going a little nuts. It may drop back down to 34. That's okay. It's all within the range of consolidation and building support levels. But what's interesting, and here the blockchain backer just tweeted out, the DXY, the dollar currency index is crashing, folks. It takes a hard tumble through the 106 Fibonacci level here. Folks, that is bullish because as we've talked about many times, when the DXY is pumping, assets start crashing. When the DXY is crashing, assets start pumping. Now, it's not an immediate thing where it happens in the seconds and the minutes, but watch over the next week or so, we're going to see assets start to move upwards. So very bullish in my opinion. Now, this coupled with the Fed pausing rate hikes is all bullish narratives. Now, when the Fed starts to cut rates, that's usually a sign something is about to break. That's when you put up the red flags a little bit. But right now, I think we're okay. The Fed is pausing. The DXY is crashing and Bitcoin is looking to get ready to move to its next level. And as always, it's going to pull the altcoins with it. So we can expect the altcoins to rise. And this is not a move to new all -time highs. Like I've been saying, this is a move to retracement level. So we're anticipating Bitcoin going to between 40 to 50K. That's not guaranteed. That's just a thesis. And altcoins will follow Bitcoin's move, at which point I think Bitcoin rolls over a little bit. Maybe it goes back down to 30K range. It starts to move slow and steady into 2024. And we possibly may hit some new all -time highs in 2024 for Bitcoin. But I think there's a very high probability we hit new all -time highs in 2025. And that will be the peak of the next bull market. So this is based on how the market has performed historically. Could things be different this time? Absolutely. But there's no facts right now to say that it will be different. So we are forming our thesis based on the facts, the fundamentals, the technical analysis, and much more. So looking really good here, folks. Now we got news here that Coinbase posted its earnings and they beat the expectations, which is really good. Here's the headline. Coinbase post earnings beat with $674 million in Q3 revenue. So you may say, well, who cares, Tony? Well, look, I do own some Coinbase stock, but this is a indication. This is a marker, a metric that we use to show that the market is recovering. And I think that's clear as day. If you look at the Bitcoin chart, we bought them in November of 2022 and we've been on the rise since. Is it a rollercoaster ride on the way up? Of course. But that's the market. And you can use that volatility to make money. You can swing trade. But the fact that Coinbase as the largest crypto exchange in the United States is posting a positive revenue numbers here and earnings numbers is a good sign, right? Multiple indicators showing that we are growing. We are coming out of the bear market. I don't believe we are officially in a bull market yet. I think we're in the transition phase from bear to bull. I believe the official bull market starts next year at the Bitcoin halving. Well, folks, that's the news. Let me know what you think. Leave your thoughts and comments below. How many years of sentencing do you think Sandbank, graffiti is going to get? Let me know what you think. And I'll talk to you all later.
Bankless
A highlight from ROLLUP: SBF Found Guilty | Solana Dominance | Celestia Airdrop
"Hey guys, a note before the episode today. On Thursday evening, that's November 2nd, Sam Bankman -Fried was found guilty of all charges. So that's all seven counts that he was charged for. Now we've recorded this roll -up episode before the verdict dropped. David's in Europe, he's likely asleep so we haven't had a chance to talk about this, but I'm pretty sure I speak for him when I say it feels so good to end this painful chapter in crypto. One year and five days ago, we hosted SBF on this very podcast on a debate with Eric Voorhees on crypto regulation, and it was an absolutely legendary debate. We arranged it after we heard from some friends that SBF was up to mischief in DC. Apparently they said he was greasing the pockets of lawmakers and working with them on a crypto bill that would make DeFi front ends virtually illegal. Effectively, this would be pulling up the ladder for decentralized finance and accruing more power for his exchange, for FTX, and doing all of this under the auspice of practicality. I remember the debate well, and at times it felt like SBF was almost giving us a lecture. We crypto natives didn't understand how to work with governments. Our values weren't practical, they couldn't win, they were too rigid. Here was a billionaire wonder kid who built one of the world's top exchanges in less than four years. What did we know about building business and getting things done in DC? This is the tone of the conversation. Equally, I remember Eric Voorhees with eviscerating arguments and monkish precision. He argued to Sam that crypto is an open, permissionless financial system for the world. It's like the internet. It's like email. Any society that rejects this technology is a society that rejects fundamental freedom. I felt like Eric's moral clarity pierced through the bullshit like a knife through butter. And David and I watched as SBF absolutely withered under this approach. One thing struck me at the time. It seemed that crypto had made a grave mistake in entrusting so much to people like Sam who didn't share our values. I was so happy to trade them off in some calculated game of maximum expected value. But what I didn't know at the time was how grave that mistake would be. SBF, during the time of our recording, was actually covering up one of the biggest frauds since Bernie Madoff. By that point, at the end of October in 2022, he had gambled away over $8 billion in customer funds. I don't know what his long -term plan was. Maybe he was hoping for some way to last long enough to win it all back. Maybe he didn't have a plan. Maybe it was all hubris. But 11 days later, it would all start to come crashing down. I still, to this day, have no idea why he showed up to this debate 11 days before the fall of his campaign. The debate itself may have been the spark that took him down. I mean, he must regret doing the podcast now, because in the hours and days after the debate, the crypto community turned on him. There was this sense of betrayal, of high alert, and it didn't take us long to sniff out the truth of his fraud. Massive credit to Coindesk for breaking the story of the Alameda balance sheet. Everything followed from there. Now, he's declared guilty in a US court of law after hurting many people, doing incredible damage to this industry that we love. I'm thankful we have a legal consensus process in the US that afforded a fair trial and due process. I'm thankful that justice has been served. The values of SBF, and many of those like him in 2022, were stage three cancer that we had to cut out at some point, because if they persisted much longer, they would have been terminal. I'm thankful for the bear market for giving us the opportunity. I know that criminals and scammers will visit our industry again in the future, and I hope those of us who live through SBF will be wiser the next time. But above all, I think it's important that we remember the true hope of crypto. It's not in another set of bankers like SBF. It's in decentralized finance. It's in holding our own private keys. It's in running our own validator. It's in Ethereum. It's in Bitcoin.
Tech Path Crypto
A highlight from Market Rally Continuing | Jerome Powell FOMC Meeting Update
"All right, so the FOMC meeting was in today, and there's a lot of things to talk about here. We'll break down a few things as the run. I'll play a little bit of a clip also that you guys are going to want to see today, and we'll kind of give you some predictions maybe of where this is going. My name is Paul Baron. Welcome back into Tech Path. All right, a couple of things hitting, of course, just upfront, no rate change, higher for longer, expected response from Chair Powell, but I think the scenarios that are playing out right now, and I'll kind of explain this here in a second, is what does this look like in the December FOMC meeting? Do we get another potential up or up -let kick in terms of the interest rate, or do we get a higher for longer holding pattern, which is what they've done so far? I want to jump over to Bloomberg, actually, and kind of cover in a couple of points right here. This one right here, Powell says it's likely to be true that a softer pace of growth in a soft labor market likely needed to be getting inflation back on track, that not necessarily being the case right now, softer labor and softer growth, which obviously GDP has been continuing to climb. So this is something that has been a problem for Powell. Further into this, he said that the effect right now on the Fed hikes are being seen, though. So that is this lagging element within the markets that says, hey, the Fed's been doing their job. They're causing all this to happen. But unfortunately, we haven't seen the real effect on GDP, labor, and some of the other markets. We have seen it in real estate. We have seen it in some of the securities markets. Further in this is, we'll take time. He's referring to resetting of borrowing costs, which is higher for corporate bonds and loans coming due that are refinanced at higher rates. That's the other factor that are going to be playing in here. So other things that he got into, I'm going to kind of scan up here, there's a few more notes that I had, Powell signaling that the September dot plot, this was another big one, that it may not be accurate anymore. And that one showed the majority of participants forecasting one more rate hike this year. So this is the question. And when he was answering questions from the journalists, they pointly went at him for December because the markets, when you look at the market response, even though we've seen S &P kind of adjust down, but some of the other markets, especially if you look at gold and even what's happening in the crypto markets, still trending up. And I'll show you guys some charts here in a second. We'll get into that. And also, by the way, we did a big video on Solana yesterday, precursoring some of the growth that Solana is now seeing today. I'll show you that as well. So make sure and stick around for that. I want to play a clip here from Powell in from the livestream here. Let me kind of start it right here. At the stage for achieving maximum employment and stable prices over the longer run. To conclude, we understand that our actions affect communities, families and businesses across the country. Everything we do is in service to our public mission. We at the Fed will do everything we can to achieve our maximum employment and price stability goals. Thank you. And I look forward to your questions. All right. So I'm going to pause it there for a second now. So basically, what I'm getting at here is that they have not deviated at all from going after a 2 percent inflation. And that, to me, still shows the resolve that I think the Fed is going to have during these times in which we're continuing to see GDP rise, continuing to see strong labor numbers, which we should not really be seeing, but yet still are. So either the Fed is wrong or we're seeing a huge detachment in these trailing impacts from some of these market indicators that are just not necessarily taking place in the economy just yet. Now we could be on the brink of either a rate hike that will come in December or potentially a scenario that plays out longer if we continue to see stronger GDP numbers. There was another thing that they were hitting on right here from the Bloomberg piece. This was talking about the long -term growth trend. It's around 2 percent. But right now, there's an elevated level of potential growth. This is the catch -up phenomenon that I'm talking about. And thanks to factors including unwinding of supply chain and increased labor force participation, rise in immigration, et cetera, he thinks that is, or they think, that is still the reason we're seeing this slowness of how the jobs market has been able to respond to this. Now the question will be, does Bitcoin, and in general, some of the risk assets respond to this? Because when you look at some of these no -hike responses over the past several months that we've done on the FOMC meetings, which by the way, we didn't do this one live today. Did you guys, do you care if we do these live stream or are you more interested in kind of the analysis afterwards? Let me know. Drop some comments down below. Make sure and subscribe to the show as well. But the point I'm getting at is if you look at Bitcoin, let's go over here to the Bitcoin chart, and obviously not a hot, you know, I don't think too many people were seeing or expecting too much movement anyway from Bitcoin. This is on the four hour. But as you can kind of see, just pretty much the range that we've expected, which is around this mid 34 range overall. Now does this set up though for another December run? Now remember, if you go back here, I'm gonna go to the daily chart and I'll show you something here that one of our analysts was kind of showcasing a little bit right here. Let's go back into December and we'll fly into it right here. So right here is the end of December right here. So you see this, let me kind of zoom in on this range right here. You'll see this range right here, which is kind of this sideways range that we're talking about right now, potentially. Is this something that could happen? Now could it repeat? There are a couple of things, big factors that play into January. Remember, ETF deadlines coming in January if we don't get an ETF before the end of the year. We get an ETF before the end of the year, all bets are off, we're gonna see some movement obviously with Bitcoin and some of the other markets. But the question will be, do we see that kind of lift in the market? Because when you go back and look at that, this came from December 30th right here to literally January 18th, up almost 30%. So very similar to what we've seen in this short period of time right here over this short run of where Bitcoin, of course, has grown up to around 35, 36K, and that's coming from this point right here around 26, so nice little move right there at 31%. So I'd love to get your feedback. Do you feel that this is going to continue to stay slightly up, meaning could we get a 35K hold pattern on Bitcoin during this period of time and possibly see this little ramp? If rates though increase in December, does that put us in a position where we could see that retracement? Remember, a lot of people, a lot of analysts have been calling for a potential retracement in December, or I should say over the next few months, could it happen in December if we actually get a rate increase? And at the time, if we get a retracement, then it's set up possibly for an ETF, and that of course gives you kind of these explosive market and volatility scenarios that play out into this. A couple of other things that I wanted to hit on. This was one tweet right here for Kathy Jones over from Charles Schwab, and it was kind of interesting. Two -year Treasury fell sharply following the release of the FMC statement. Market is interpreting that the statement as the Fed likely to be done with rate hikes this cycle. However, though the statement came out with, hey, we're pausing, this cycle, obviously the case, but now based on what Chair Powell was saying in the conversations and the questions afterwards is that they have not ruled out the December rate hike. And I believe, based on the way he was talking in the conference, I believe we're going to see a rate hike in December. And that's only because of the continued slowness in this market, this economic scenario. I don't think we see enough movement in the securities market unless of course there are some factors in that, and we'll get into that, but mostly it's the situation around the global conflicts that are occurring. So all of that playing into his statements today. One other thing right here, this was the S &P 500 gains close to 1%. This is just on the short period of time. And then the other thing here was his statement right here on the banking system still being resilient. So my question is, do we see any kind of pressure on, whether it's regional banks or other banks, especially as we continue to see this debt problem continue to be a major problem within the overall architecture of what's happening monetarily from the US government? So this is getting interesting because timing -wise doesn't necessarily line up with what the current market is, meaning still strong GDP, jobs aren't moving. We are seeing real estate slightly, obviously commercial is a big factor here, but does this push the Fed enough to go ahead and pull the trigger on another rate hike? And I'd love to get your feedback. Do you guys think we will see a rate hike coming in December? My point, I still believe rate hike is coming in December. I'd love to see the probability charts in about a week to see what that might look like coming from the FOMC meeting then. Another thing to be aware of, we have been tracking Solana pretty heavily today and yesterday. This of course is just a breakdown on sentiment. Big move over the last couple of days on Solana. And if you look at the charts on Solana, let me jump over to the chart real quick, almost 44 right now, waking up here to almost $47. This is up almost 14 % on the day. We look at Solana right now with many lenses, and most of it has been through the payment lens, but there's also I think some very interesting news that has yet to release. Remember Breakpoint has still got two days yet to happen, and they've been releasing quite a bit. We're getting ready to drop a video today if it doesn't hit before this one, so make sure and check that one out. But this is a good example of why and what we've been doing with Sol overall. This kind of upward trend. The big thing though is this amplification number is starting to really come in on overall sentiment, which is what I talked about yesterday, overheated sentiment data on Solana. So continue to push in that direction. We're going to be doing a full breakdown on the FOMC impact because there's a lot of fed news out along with the SEC, along with some of the regulatory scenarios that are playing out with some of our lawmakers that will break down that could affect the markets in a very interesting way in the way of an uptrend. We'll see how that goes. Of course, if you guys are listening in on the podcast, make sure and tune in here to the YouTube channel. It's the best place to get alpha like this. And if you're not in our diamond circle, make sure and get in now. It's the best place to get additional content, more stuff that we don't put here on YouTube, or you can catch me out there on X at Paul Baron. We'll catch you next time right here on Tech Buy.
The Bitboy Crypto Podcast
A highlight from $1.96 Billion Crypto Powerhouse! (What You Need To Know About Compound)
"Listen up, folks. I need you to stop saying yes to crappy 0 .1 % interest your bank offers because, frankly, they're making billions and robbing you blind. And that's why I'm here to tell you about Compound Finance and its native token comp and how it could be the best way to make your money work for you. But be careful. This video may make you never want to use a bank ever again. It's time to discover crypto. Compound is a permissionless and decentralized finance protocol that was founded by Robert Leshner and Jeff Hayes back in August of 2017. And about a year later, the Compound protocol launched on the Ethereum blockchain. It started out with $25 million raised in a seed round in 2018 and $8 .2 million worth of venture funding that was raised at the end of 2019. Compound has notable investors like Bain Capital, Coinbase, Dragonfly Capital, Polychain Capital, A16Z and Paradigm. Then, in the midst of global lockdowns, Compound ICOed in June 2020. ICO means Initial Coin Offering, which is similar to an IPO in TradFi land. Initially, 42 % of the tokens were allocated to liquidity mining, about 24 % to shareholders, 22 % to the founders and team, and then 7 .7 % to the community and 3 .7 % to future team members. Within 5 days of the ICO, the price of Comp jumped to over $300. And at the height of the last bull run of 2021, one Comp was worth over $900 USD. Comp has a total supply of $10 million and its circulating supply has reached almost $7 million. Comp is inflationary and with a little over 1 ,200 Comp emitted per day, Comp is estimated to reach its maximum cap around July 2024. These emissions are distributed to the protocol users, half going to suppliers of the assets and the other half to the borrowers. Other than holding Comp as an investment vehicle, you can also use it for governance, submitting and voting on proposals. Okay, so let's talk a bit more about what the protocol actually does. But before we do, make sure you like this video, subscribe to the channel if you haven't already. Compound creates money market funds in the crypto space, pulling tokens from users with algorithmically determined interest rates based on the supply and demand for the tokens. So if a lot of people want to borrow USDC, but not a lot of people are lending, the interest rate goes up and vice versa. Compound uses smart contracts, which are autonomous decentralized digital contracts that automatically execute tasks once a certain requirement is met. Compound smart contracts allow peer to peer borrowing and lending directly without a centralized intermediary like a bank or the mob. But who am I kidding? They're basically the same thing. When you lend an asset on Compound, you receive a new asset representing what you're lending. For example, if you lent USDC, you'll receive CUSDC in return. You can supply tokens through the protocol and earn a return as well as take out a loan. And Compound covers its expenses by taking a small percentage of the interest earned. Compound was also one of the first platforms to introduce yield farming, which means users lock up their tokens to earn rewards. But you may be thinking, wait, didn't a ton of lending platform just go into bankruptcy? Looking at you, Celsius and BlockFi, why is Compound better? Well, remember, those other companies were centralized entities, not to mention their loans were under collateralized and the management of those companies made really bad investment decisions with their users funds. The collapse of these companies actually leaves Compound in a rosy light because it shows exactly how much collateral protocols need to demand to provide sustainable loans. With a decentralized platform, the community votes on the direction of the protocol. So there's less opportunity for the greed and recklessness of the few to completely wreck the life savings of the many. But remember, I'm not recommending you put your life savings into any one platform. In fact, I'm not recommending anything. This isn't financial advice, and you always have to do your own research and practice proper risk management. There's no way to earn yield on crypto that is 100 % safe. But Compound has almost $2 billion total value locked with $2 .34 billion of collateral that's backing $889 million worth of borrowing. That's about 1 .5 times the amount of the loans that Compound has given out, which means the platform will be able to weather the ups and downs of the bear and bull markets. And funnily enough, BlockFi, Celsius, and Compound were all founded in 2017, and yet Compound is the only one who made it out of the dark depths of the 2022 bear market, alive and kicking. Plus, Compound doesn't require KYC or identity verification, so you can borrow or earn interest without giving away your priceless personal information to an entity that could really do anything it wants with your data. But another reason we think Compound is worth talking about is that it's been vigorously audited and verified in comparison to the other decentralized lending platforms, which means Compound is attempting to make your assets as secure as possible. And Compound is so concerned about security that it takes every opportunity to learn from the mistakes of other protocols. Back in October 2022, Compound paused the supply of YFI, ZRX, BAT, and Maker to protect against market manipulation attacks after a Comp governance proposal called out the low liquidity for these tokens and potential vulnerabilities for the platform. And after Ave experienced an exploit attempt back in the fall of 2022, Compound passed a proposal that imposed loan limits and introduced borrowing caps for certain coins in an attempt to lower risk. This brings me back to how important the open source decentralized governance is for the safety of Compound. The community has the platform and the user's best interest in mind and work together to protect them. Compound has been quietly building over the past year in anticipation of the forthcoming bull run. In May 2023, Compound announced it would now be available on Arbitrum, which is the largest layer two scaling solution in terms of total value locked. For now, you can only use ARB, GMX, Wrapped ETH, and Wrapped Bitcoin to borrow USDC, which is another tip by Compound to manage risk on its platform. And if that wasn't enough hype for you, Compound also recently launched a mechanism called Encomber, which allows users to retain ownership of their tokens while granting other users the right to transfer their tokens. This is a huge milestone for the platform because it provides a ton of potential use cases. Obviously, this assists the current lending markets because users can encumber their tokens as collateral to lending markets, allowing them to maintain custody. This also creates an opportunity for trading where a user could encumber their tokens to a logic contract that has the option to buy the tokens at a certain price. And if that price isn't met or the contract expires, the tokens never leave the seller's account. But I know there are countless potential use cases for this technology, and I'm excited to see where it goes. The other big piece of Compound news is that the founder resigned over the summer. You think that would make investors nervous, but funnily enough, it had the opposite effect. The price of Comp skyrocketed from a low in June around $26 to a high in July of almost $80. That's almost a 3X during the bear market, folks. Robert Leshner, who you'll remember as one of the Compound founders, resigned as CEO to focus on his new business venture, Superstate Trust, which is a fund focusing on short -term government bonds, government agency securities and other government -backed instruments. Leshner had already raised $4 million from a variety of DeFi investors when he made this announcement. And the coolest part about Superstate is that it plans to use Ethereum blockchain as a secondary record -keeping tool. This seems to mean that the shares in the fund will be recorded on ETH. Leshner wrote, This statement implied that Superstate shares might eventually be available on Chain, causing rumors to run rampant that Comp holders might receive an airdrop of Superstate tokens. If you want to pick up some Comp, you can get it on various centralized exchanges like Binance, Coinbase and Kraken, or you can check out decentralized options like Uniswap or SushiSwap. I think Comp is a sleeping giant that will crush the next bull run. But I'd love to hear what you think. Are you an investor in Comp? Do you think you'll go back to its all -time high in the next bull run? Or will it soar past to the moon? Leave a comment below and tell me what you think. And I'll see you at the top.
Tech Path Crypto
A highlight from Bitcoin Lightning Network is BROKEN! w/ Paul Sztorc | BTC Layer-Two's Ranked
"This is going to be a good one. My name is Paul Baer. We'll come back in the Tech Path. What we're going to try to do is line up what's happening within the ecosystem of Bitcoin. Obviously, Bitcoin is flying right now with some news, albeit the fake news on ETF. But at the same time, we'll see a lot happening from the macro perspective. And you know that's kind of what we cover here on the channel a lot. But we wanted to dive into the complexities of what's happening inside Bitcoin as a platform. And I think that's the thing that a lot of people lose track of is, can Bitcoin be used for payments? And if so, what would you use? I want to go to a clip that shows our guest today talking at the Bitcoin conference to some of the developers within the Lightning Network to kind of frame it in the sense of whether or not Lightning could be used. And if you look at this conversation, he pretty much the destroys issue of what Lightning is standing for. And this is why I think it's important. So let's go to this first clip. They said that if they could get a 1 % or 5 % boost to revenue by adopting drive chains, they would do it in a second. But the problem is - It won't be 1%. It would be 10x, 100x, or even 1 ,000x. Hang on. Let's be clear, though. There is a misconception there. I asked you what the problem with this idea was. You just said that you mixed up L1 and L2, and you said that I don't like miners having control over the L2 withdrawals, even though they already have control over the Lightning Network justice transaction. So it's exactly the same thing. Well, again - We're in this weird odyssey on miner costs. Merge mining the side chain is essentially free. Hey, hey, hey. They don't even need their own node. They can just - That's just categorically false. No, they give 51%. The hash rate can censor the justice transaction. The problem with Lightning, though, of course, is that even the proponents don't expect 8 billion people to be able to use it. Whereas with this, they could. So that's a pretty big difference. The tech people don't agree with you on that. This is a silly discussion. Go read the blog post I just posted. You may not care about a certain thing, like the EVM or something, but other people care about it. And you may not care about large blocks. This isn't about what other people like. It's about their ability to choose. All right. So, of course, that's Paul Stortz, who is the CEO of L2 Labs. And welcome, Paul Stortz, into the show today. Great to have you back. Hey, thanks for having me. All right. So, obviously, we showed a little bit from the Amsterdam Bitcoin Conference your engagement there with the Lightning teams and some of the developers out there. And this is some of the things that we've kind of talked about here on the channel in general. And when you look at what Lightning and what you're trying to do, Paul, with L2 Labs and sidechains, if you can kind of give our audience a breakdown of the inefficiencies of Lightning versus an alternative and what would that be? Yeah, I mean, I like the Lightning network, but what has happened was because of the scaling war, the Lightning network is like an idea that has collided with the Bitcoin culture and damaged it a lot. Because people in Bitcoin are very insecure about Bitcoin's future, they need to tell a story where Lightning is going to fix everything. And, you know, it might be true someday, but the current idea, the current version of the idea is not it's just not the case. So the Lightning idea is a good enough idea. The key insight of the Lightning network is it's kind of like a six degrees of Kevin Bacon or whatever it is where. So it's like maybe I have a channel with you and you have a channel with someone else. And so then maybe I can pay them through you. That's the idea of the Lightning network. And I think unfortunately, it's probably not going to work out for a couple of different reasons. But the bigger issue is that the Lightning network is like this meme that has collided with the Bitcoin community and everyone just people just start talking about it. And unfortunately, they stop being honest with themselves. It's out of my own concern for them that I started speaking up sort of against it. They're suffering, I think, psychologically, many of them. It's not quite as bad as something like Theranos or whatever. But it is like there's this big difference between what the marketing people say, the people on Twitter who don't use Lightning. They say a certain thing and then they're in the back room trying to make this the blood machine work. Right. The Lightning network history here over time. All the way back to 2021. You can kind of see it's a bit of a stale platform in the sense that we haven't seen a lot of growth within it. Obviously, some news here recently with some security concerns. Can you kind of explain the security concerns that were revealed by some of the developers in the market? Yes, I will explain that. But first, I like your graph and I want to point out something. The most important thing about the graph is something that hides in plain sight, which is that at maximum, it's only 5000 coins, basically. And there's 19 million coins. So this is like 0 .02 % or something. So we see where no one is. So it's very small. And then people try to make arguments about, oh, well, maybe there's a coin in there that turns over like millions of times a month. Blah, blah, blah. You know, that's a bunch of cobalt. So now to your second point, there was recently a vulnerability in Lightning. It can be fixed, but in order to fix it, the people, the current problematic people in Bitcoin, the bad people and the bad guys, they have to admit that they were wrong about something else. So it's unclear when these two malicious, we have saving Lightning and then we have admitting that we still need more soft fork op codes. Because the vulnerability is that you, someone, when thing the times out, it's still possible to use either of the two paths. So one person pulls the payment from you and the other person uses the timeout. And now the person in the middle is left having routed a payment, but they get nothing. I tried to get this idea popularized in like 2019, that the idea of channel risk, that who you open the channel with makes a big deal. But yeah, I think this is not a great bug. I wouldn't be routing any payments for anyone else personally until the bug is fixed. And looking at that. Yeah, I want to go to, because payments are a big part of this, I want to go to this next clip right here on Bitcoin payment potentials. Listen in. What do you think, Rene? Like, do you think that we can get to a point where even like the first attempt that someone makes that tries to make a payment should work? So I think that will hardly be possible without severely changing the protocol. So this is the way how the protocol is designed. So payment failures, or at least the failures of attempts, are built into the protocol. The question is, what can we do about this? Do we have suggestions on that? What you could do is you could basically say, well, if I have enough liquidity, let's do five of them concurrently and let's hope that statistically at least one arrives. But then the question is, if we do it in the current protocol, if two arrive, somebody could claim two payments and then you would overpay. You don't want to do that.
Telecom Reseller
A highlight from Ruckus Wi-Fi 7 opens doors for partners to offer needed solutions to existing and new customers, Crexendo UGM Podcast
"This is Doug Green and I'm the publisher of TR Publications and I'm here with Matthew Matlack of Ruckus Networks. Matthew, thank you for joining me today. It's my pleasure. Thanks for having us. So I'm so excited you were able to take some time out here at the Crescendo User Group Meeting 2023. This is a NetSapiens platform meeting. So we're going to be talking about NetSapiens and the NetSapiens platform and products especially made for the use of that platform to partners selling that platform and so on. I'm going to get into that in just a second. We're really talking in this podcast about Wi -Fi and the importance of good Wi -Fi. So what does Ruckus Networks and good Wi -Fi have in common? You bet your boots. So Ruckus is unique because we don't sell voice. We don't sell handsets. Our goal is to make sure that whatever hosted voice solution you're positioning, we provide power over Ethernet to the phones. If there's a Wi -Fi option, we want to make sure the Wi -Fi is reliable. So we've had a great experience at the conference. A lot of good customers are here, partners are here, and I've met folks that have been with Ruckus from day one that have been using Ruckus at their house for many years. I said, why Ruckus? He said, we wanted to be disruptive in the industry. We wanted to make a Ruckus. So our antenna designs within our access points provide for better coverage for higher capacity, and that's why we become the industry leader for high density wireless. That's why you see us in convention centers, resorts, hospitality, service providers, but this has been an incredible conference. You're talking about expectations, right? When people walk into a drink station, a convention center, an airport, a barber shop, whatever, they have a Wi -Fi expectation. Absolutely. It's like when you walk in a room and turn on lights. You expect it to work. Wi -Fi has become the same way. It's the fourth utility. Whether you're staying in a hotel, whether you're in a classroom, or you're in the convenience store, or at the mall, you want to have the ability to connect to Wi -Fi. You need to make sure you have to check the box that says, I agree to the terms and conditions, and that my data may be tracked. So you have to be educated before you connect to public Wi -Fi. If you can connect to a secure Wi -Fi or pay a premium for some enhanced broadband for high definition streaming or watching videos, know that that's an option. If I'm a partner with Ruckus, can I win with Wi -Fi? Every day. We're the easy button for wireless. We have the ability to be supported in the cloud, or you can be supported with a centralized controller. So we don't lock you in to one specific management. And if I'm an enterprise, especially with some of those pre -Wi -Fi facilities built maybe even 100 years ago or more, can I still win with Wi -Fi? You can. It is remarkable the amount of old warehouses, old buildings that we provide wireless coverage in. I tell people, if you have a wireless challenge, give us a chance to showcase our technology. And with Wi -Fi 7 coming out, we're the first ones to market with Wi -Fi 7. We are fully invested in the ongoing innovation of wireless because we're a wireless focused company. So what about the Crescendo ecosystem, the NetSapiens end users? The focus for a lot of the NetSapiens partners is selling a reliable solution for managed services, right? Voice is the primary application, right? But you have to have Wi -Fi. You have to have security. You have to have customer service. We want to be part of that family. They know when they position Wi -Fi, it's going to work with Ruckus. We don't lock our customers into one certain management. And if we need PoE switching, we use US -based chipsets. So they're inherently more secure than what they may have been using in the past. And here's the Crescendo show before I've been struck by the number of devices and products made for the Crescendo NetSapiens environment that are reliant on Wi -Fi, basically, principally using Wi -Fi to connect. Yeah, so today we work with several hundred service providers across the US alone. The amount of mobile devices is going to continue to expand, right? Almost everybody has their own cell phone. So with that, that's just another device that's going to connect to the network that expects performance. superior Now I understand you've got something new. Wi -Fi 7? We do. Wi -Fi 7 was released last week. Ruckus has announced the R770. It's an indoor access point and it's leveraging our artificial intelligence. So it takes the mystery out of channel planning. Traditionally in wireless, you'll have channels 1, 6, and 11. And it takes some science to get channel planning just right in environments. And what this does is it uses our patented RF enhancements to increase range and coverage. So there's going to be a huge leap in throughput, capacity, and latency reduction. Now if I'm a partner and I'm not experienced in selling Wi -Fi services, do I need special training to get on board? So we do have partners within the Crescendo family that can go out and do a complete site survey. They can do a full implementation. But that being said, you guys can contact Ruckus directly, provide us a building map, and we'll do basic consulting for free just to give you an idea of where the access point should be placed indoors and outdoors. More and more people are wanting outdoor coverage for parking lots or for high school stadiums or athletics just to provide some enhanced security. We want that to work in and out as we walk in and out of the building. Of course. So within a warehouse, you may need to know where some valuable equipment is, right? We can do some location tracking within a warehouse or within a hospital if you need that added functionality. And those warehouses can be acres. Huge, massive warehouses. And they weren't filled with Wi -Fi in common. Right. So you've got that. What does this all look like? If I'm an enterprise listener, what am I looking at? The key with enterprise, it's all about reliability, right? Although you may have a large IT staff, you have a lot of people focused on servers and storage and voice and security. So very segmented staff. We can make Wi -Fi easy for an enterprise, whether supporting internal offices, whether it's supporting a remote office, a new construction site. We support a lot of small, medium business, large enterprise, but we're the number one vendor for service providers and the number one vendor for hospitality. So 90 % of the Marriott's out there use ruckus. How's Wi -Fi 7 different than what we've experienced before? So Wi -Fi 7 is going to have a maximum throughput of 46 gig. It's IEEE 802 .11 BE and it's going to have 16 spatial streams. So it offers great quality of service for low latency applications. And if you're just simply a user, in other words, if I'm thinking about the people on the campus that I'm serving, they'll notice it. They'll actually see the difference or experience the difference. Absolutely. Is there a place where we can sort of experience that now or learn about that now? Sure. So the NBA season is getting ready to start and we've been very fortunate to be the network standard for a paycom center in Oklahoma City, the home of the Oklahoma City Thunder. So whether you're sitting on the floor or you're sitting up in the rafters at the top of Loud City, you're going to have a great wireless experience with rights. And there's a great example of the types of things as Wi -Fi users we've all gotten used to, that if we're at the edge of the airport, the edge of the stadium, the edge of the facility, you see the bars going down. Exactly. I mean, our focus is to make sure that from a security standpoint, you have the ability to communicate with friends and family. Maybe you get a chance to go to a game once a year and you're with your father, your mother, your grandparents, and you want to capture those moments in the arena, right? You need to have the ability to share photos on Facebook or Instagram and do Snapchat. That's what we offer is reliable connectivity. Matthew, I hope you get around to helping the Blazers out in Portland, but we're going to wrap up our podcast. It's great to see or great to have you here. Where can we learn more about Ruckus Networks? Well, I'll tell you, if you're in Portland, the Timbers have a great Ruckus Network. Well, then we'll have to go to that stadium. Absolutely. Where can we learn more? You can learn more at ruckusnetworks .com, and if anybody out there is interested in seeing a demo of Ruckus Cloud or wants to dig into the security enhancements that we have on our network switches, you can contact me directly at matthew .matlack .com. Matthew, it's been a pleasure. I'm looking forward to learning more about this Wi -Fi 7, but for now, thanks very much. Thank you.
Tech Path Crypto
A highlight from Bitcoin Hits $30,000 | Outperforming Market
"All right, so Bitcoin breaking 30k, this of course has a lot of potential impact on the market at large and how all of this is shaking out. There's a lot of mixed signals here. We're going to try to break through that all today. You guys are going to love it. My name is Paul Veron. Welcome back in the Tech Path. Let's jump over to one event that's happening right now. There's so many things happening right now. Pretty much all at the same time, it feels like. Jim Jordan fails to win the house again. This is the third vote. Jordan is not giving this up. Remember McCarthy, it took I think 15 rounds to get him certified in to the speaker role. The question is whether or not there's a lot of people that do not want Jordan in. Obviously he is not necessarily a, I won't say he's a positive crypto, but he has no opinion. But the other scenario that could play into this is we could see someone that is pro -crypto still. So you've got a couple of people that have jumped ship, and that is Don Bacon, voted for McHenry. Lori Chavez, DeRaymer also voted for McHenry. Brian Fitzpatrick flipped over to McHenry. This is a new vote against Jordan. And then McCarthy, Jennifer Kiggins also voted for McHenry. Mike Lawler, which we knew about earlier in the week. And then Marian Miller Meeks also for McHenry. So there's some new people within the Republicans now starting to put McHenry up at the top of the list here. Whether we see Jordan or McHenry jump in, McHenry would be very positive for crypto. He obviously, in support of the bills there in the house, most likely would get them through before these sessions close out and possibly get us some legislation before the end of the year. We'll see how that all comes together. Here I want to jump over to a clip from CNBC. And this was with Powell, and many of you have probably seen some of this. But I just want to play this clip real quick. So no, I don't think that there's a fundamental shift in the way that interest rates affect the economy. There may be some differences in this cycle because of what I mentioned. As I mentioned, we are seeing the effects where we expect to see them, which is interest sensitive spending and also asset prices to some extent and the exchange rate, which you're also seeing a strong exchange rate, which is disinflationary. So I don't think there's a fundamental change in the way monetary policy affects the economy. And again, it goes back to just very strong demand. We take the economy as it is. We take fiscal policy and the economy and all the things we don't control. They come to us, and we conduct policy always to achieve maximum employment and stable prices. So we just take what comes. The fact that we have a strong growing economy, a strong growing labor market, and inflation coming down, these are the elements that we want to see that to achieve the outcome we want. So I'm going to pause it there because he feels to me like there's a little bit of double speak there in the sense that there's still pressure from the Fed to continue higher for longer and also to try to achieve the 2 percent in terms of an inflation target. But at the same time, they're still saying, hey, these things are still happening in the economy when clearly that is not necessarily the case. We are seeing problems in the economy that are running up against us, and that's including job numbers, including the crackdown on credit, including the situation with what we've seen on mortgage backed securities. We are going to see a lot of implosion yet to come. And I think this is the thing that plays out. You look at a couple more tweets and this is where it gets confusing, I think, and then everybody's kind of in the same boat. Here's Kobe Easey talking about stocks are falling like a recession is coming. Home prices are rising like there's no recession with an 8 percent mortgage, by the way. Bonds are falling like the Fed is raising rates. Gold is rising like the Fed is cutting rates. And then you have oil prices rising like a major war is coming. That is very possible. And then tech stocks rising like there's no problem at all. So nothing really adds up. I agree that this is something we've talked about for I'd say the last year is that some of these things just don't make sense with what we've seen in this cycle. And remember that we've been on a run for many, many years. Well over that cycle of a seven year cycle before you see recessions, we're into 15 plus years now. And when you look back really at the last true recession in 2008, I mean, sure you could say the 2020 time was a slight one and maybe 22, but that was induced. The scenario will get into what kind of impressions or issues hit the markets to cause this to maybe shift in another direction, including a shift down. This was Garris Holloway kind of hitting on what I think is pretty close right here. Gold hitting resistance at about 1985, big level. Stock market hanging by a thread with a crisis on the horizon, yields continue higher. All that we know. And the Powell, of course, willing to break something, but history shows Fed won't be causes an epic meltdown. That's the question mark right now is what is that black swan that is in a war? Is it something happening in the job market? Do we see enough pressure from inflation and or credit crisis that could occur that really starts all of this to create that domino effect? The problem is there hasn't been major movement. It's in these little steps toward what many people have said is that we're still not out of the woods yet. However, with all of that happening, Bitcoin is outperforming everything. Traditional finance assets in 2023, Bitcoin is smoking the competition as high as $30 ,000 to on October 20th of this Friday moves markets to another correlation is the question mark whether we see it break away from traditional stock market. We'll see. And then right now, about 79 percent and 34 percent accumulated gains on year to date versus Bitcoin and Ethereum. That number is one to pay attention to. Let me zoom in on this chart right here, because this gets you pretty jazzed if you're a Bitcoiner right now. Almost 80 percent up, and that's where we at currently year to date from the beginning of the year. And then Ethereum struggling to keep pace at only 35 percent. And then you see some of the other assets, gold sliding up as 26 percent gain. I'm sure Peter Schiff will be happy about that versus NASDAQ and the SPY. So a lot of traditional finance assets not performing at the pace in which we've seen these risk assets perform. Do we see a structure here where we get that adjustment? Many traders, many analysts still believe that could occur. However, many people are also looking at a short term pump if we do get an ETF. So there's a lot still yet to determine. Watcher Guru says just in, SEC drops lawsuit against Ripple. Some people think this is one of the things that caused this pump, even though I do not believe that. This was the only thing. I think these are a cumulative effect on what's been happening overall from a global macro standpoint. Obviously what we're seeing in terms of conflicts. And then you have things like what's happening in China. Right here. You know, right here is Vale share cap. This of course, Dr. Bear. If you have a reasons I have mine, meaningful moves are always driven by liquidity. And the PBOC injects, this is basically China, injects record amount of liquidity overnight. Remember, there's been another major real estate failure in China. This is one of the big challenges past the Evergrande debacle that's occurred already, which has caused liquidity and also not a lot of trust in the financial system in China. So this is another factor that plays in it when you inject liquidity. Much like if this happened in the United States. Think about this, major bank failures, someone like a BlackRock or a VanEck having troubles. Those would create massive unrest within the population. That's the kind of thing that's happening right now in China. Zero hedge comes in when oil, gold and bitcoin are all flights of safety. Something is about to crack. That's a question. I don't know. I look at this. Yes, I agree with that there's a lot of pressure from the macro side of things. There's a lot of unrest, you know, you know, from when you look at conflicts around globe. And you also look at these cycles. So that's another factor that plays into it. All of this a very interesting time. But there are going to be some people that are being made millionaires in this run or billionaires in this next run. We are going to see that kind of impact. The other thing I want to hit on here is VanEck saying, well, hey, if a spot gets done, you know, in terms of an ETF and it gets approved, kind of zoom in on that for you guys a little bit so you can see it. What would you do? Would you buy it or not? Most people are saying when I say most, we're almost 60 percent saying yes, but there's a lot of people out there that are still in the market that is for the direct asset. Now this remember a spot, yes, that is direct asset as well. But it's a little bit different in the sense that I think it goes after maybe investors that who are not necessarily in their crypto curious or they're just getting into crypto for the first time. But I have a feeling that that will start to create them to quickly move into the markets on exchanges to buy Bitcoin directly and other assets, which I think all coins will be one of the big winners here as we start to see these markets start to shift. We're going to play a few clips here from Dan Tappiero. And this was one with Larry Fink and the ETF. Listen in. The Larry Fink turn for, I would say, institutional investors was very important. Do not underestimate that. Two years ago, he was very clear. He said Bitcoin is a fraud for money laundering or whatever it was. And we're thinking, oh, my gosh, how could he say that? Two years later, he says Bitcoin is a global asset and he wants the ETF. So I would not underestimate the importance of that switch and those comments to let's just say, you know, U .S. institutional capital, but also, I think, global capital. He's you know, it's a 10 trillion asset manager, very well respected. And it seems like every few months we get another turn like that. Some guy who was an ace here turned some. Yeah. I mean, even Dalia, you know, to a certain extent is also kind of repositioned into risk assets. So the fact that we've already seen Wall Street at its best with the big players such as Fink already spinning. Remember, there was a very interesting flip with Fink and that was the ESG issue. That, of course, would play against the potential of a Bitcoin ETF, because remember, so he obviously sees, meaning Larry Fink, obviously sees the future here, not in ESG, but in what we will see. And that is risk assets going forward and a lot of what we're going to see around just crypto in general. Let me play another clip for you guys. This is Tapiero also talking about the sector in general, listen to him. I just wanted a bet on the sector. And that was, so for traditional macro guy, I built a sector bet and it's a portfolio, you know, as I said, of 24 businesses now, 1 .2 billion. And we really are in the middle of this ecosystem, this growth stage. So it was, you asked me the question, how did it happen? Well, it happened slowly and then all at once. And then I put down everything, I got rid of everything I had in the traditional world. I don't have really much exposure in the old world anymore. Once you see the upside potential and how big the TAM, the total addressable market of this space is, everything else is really dull. I mean, you know, bonds and currencies, I mean, moving 10 or 20 percent, who cares? This is like a, this will be eventually a restructuring of how human beings interact with value. That's pretty big. You know, listen, I know everybody watching our channel, you already are drinking the Kool -Aid, most likely, but if you're new to the channel, this is probably an eye -opener for you. You're probably saying, wait a minute, what's about to change? Well, what Tapiero is referring to is really kind of shift of everything, whether it's tokenized securities or it's a blow up of how we see entertainment in the NFT space, it's a blow up on what we'll see in terms of projects starting to come out and a reinvention of the internet. So all of that is interesting because it's happening now and it's happening at a pace. I think I would disagree with him on sense that kind of slowly and then all at once, I don't think we've seen the all at once yet. Yes, it's growing, but it's still under a trillion dollar market cap in a suppressed bear market. So we're not really seeing the all at once yet, but we will. And that's the key that I think he is alluding to, lots of going on there. Let me jump over to this last clip. Actually, I have a couple more clips with him, but one on tokenized assets. Even this concept of tokenizing real world assets, RWAs, which has now become a little bit, has been growing a little more in vogue in the last six months, is still, we went from $100 million of assets tokenized to now $800 million in a few months. But it's $800 million. There are hundreds of trillions of dollars worth of assets. So, you know, and then you look at something like the stablecoin market, which literally three years ago was zero. And last year in 2022, you had $8 trillion of stablecoin settled, $8 trillion. Now, what in the traditional world goes from zero to $8 trillion in three years? At some point in the future, all things of value will sit on a blockchain and be in the digital asset ecosystem. And so that is something, a vision that's beyond just Bitcoin for payments, which is for six, seven, eight years. That's what people were focused on. I don't think anyone would have imagined how big and how fast things have grown.
Crypto Banter
A highlight from You're Running Out Of Time To Buy Bitcoin! (PROOF!)
"I know we're not supposed to celebrate fake news in crypto or in media anywhere but I actually do want to speak about this tweet and the effect that it had on the market because There is one way of looking at it to actually say that even though we're very upset with Cointelegraph for publishing fake news They may have had a good effect on the market And what I mean by that is they may have drawn attention to everyone That there are only 85 days maximum for you to actually buy a Bitcoin. That's what I want to talk about today I want to talk about why you only have 85 days and why yesterday was the big wake -up call That should have shown the market this and maybe we shouldn't be that upset with Cointelegraph Then I want to talk about what happens after we get a Bitcoin Spot ETF. So let's talk about what happens after Bitcoin gets a spot ETF and I've got some great data to show you Then I want to talk about this because I never ever thought that we would see Larry Fink Shilling shilling Bitcoin, isn't this this rally is way beyond the rumor I think the the rally today is about a flight to quality with all the You know all the issues around the Israeli war now Global terrorism and I think there's more people running into a flight to quality whether that is in treasuries Gold or crypto depending on how you think about it, and I believe crypto will play Larry Fink is now shilling Bitcoin and crypto not Bitcoin actually crypto as the flight to quality never in my wildest dreams And I think it will get Larry Fink shilling it We're gonna look at why Larry Fink needs Bitcoin because as this tweet He says what if BlackRock needs Bitcoin more than Bitcoin needs BlackRock then very very very very important In the SPF case yesterday. We had some testimony which could put SPF in prison again But I want to talk about something else if you had money on FTX and you withdrew your money within the last month of FTX's Exchange actually working you need to listen to the show because you may have to give the money back I'm gonna talk about at the end what this actually means and how much trouble you're actually in if you're in any kind of trouble So lots to talk about I also want to talk about uni swaps new fees. I want to talk about finance I want to talk about finance that us lots to talk about. Let's get the show on the road guys on our new channel All Let's go right, welcome welcome welcome welcome to the new channel welcome to crypto banter plus I see a lot of you are here since yesterday if you haven't yet subscribed go subscribe to our new channel There we go. There we go. Let's get the numbers going 80 ,437 subscribers that means more than 6 ,000 of you subscribe between yesterday and today I'm going to be doing all my shows here on the new channel So if you want to see the new shows subscribe the channel, let's watch a subscriber can't go up together Also, listen help us help us get the show out there. I can see the whole day There are a whole lot of people want to show you something really funny There are a whole lot of people that are sitting in the waiting room of the other show I mean get this okay get this some people didn't follow the memo yesterday we even said live on our new channel and Then there's still 165 people waiting in the waiting room for us to go live So I don't get a message to them tell them to go live tell them tell them where we are actually live On this channel over here and we're not we're not on the old channel anymore So if you are here for my first daily show on this channel, welcome, welcome. Welcome. You are definitely part of the the community I remember we created this channel so we'd have more space to bring you more amazing programming and that's why it's called banter plus It's gonna be all the premium content is starting off with my show It's gonna be a whole lot of other stuff. So if you're not already a subscriber smash the subscribe button And if you are here just like this content, let's see if we can get on our first day Let's see if we can get over 1500 likes. I know that we can and we've got a massive show today So number one, I want to talk about yesterday's intern mess up and for those of you who missed the mess up Let's quickly understand what happened. Here is a real -time I'm running out of ideas how to generate revenue for my news company I don't I don't really know what to do somebody's spreading fake news about the SEC approving I shares Bitcoin spot ETF. All right, you know what I can work with this. I'm gonna go on roll bid and Take out a long. I mean surely Surely no one else will be doing that. You know what? I'm gonna tweet about it too. Why not? Oh Man, we are killing it. I just made two million dollars in an hour Somebody just called me out for misinformation. I'm gonna I just delete it. No one will care. Oh Everybody's tweeting about us Roll bid just called us out. I didn't know they were allowed to share that information Okay, maybe I'll do a quick apology. I Mean if I say I'm sorry, and I didn't realize that it was fake news surely Nobody will be mad then So that's I mean, let's put the jokes aside yesterday was actually an absolutely crazy day for crypto and it all started with this Tweet by the coin intern coin telegraph, apparently the intern we're going to talk about exactly what happened So what is that? What is the actual story now? So what they've done is they've blamed it on an intern and we'll talk about what they actually said But what they did was they first wrote this breaking SEC approves. I shares Bitcoin spot ETF We were live when that actually happened. Someone says present plus. Let's go guys. Let's go Then they said reportedly and then eventually what happened is they landed up deleting the tweet But what actually happened to the market? So what actually happened to the market is you can see that this wick up liquidated all the short position So you had like a 10 % drop in in open interest because everyone was short This got them completely completely completely off guard and we liquidated a large amount of the shorts You can see that the estimated leverage ratio dropped by like 5 % as soon as this happened And so now what you're getting is you're getting everyone Petrified of this market as someone says I hope you all survived this nightmare with the fake news traders are now scared and disorientated Well, if you were short you're scared and disorientated and a lot of people lost a lot of money So I saw this tweet over here, but there's many many tweets. So this one a well spent 613 ,000 201 to buy 20 .5 WBTC and quickly sold it for five hundred sixty three thousand that happened Yesterday as well, but so a lot of people lost a lot of money But a lot of people actually landed up making a lot of money. So it looks like there could have been huge market manipulation We see massive buying volume in derivative by but hours before today's false announcement, which kind of means that maybe maybe maybe this whole thing was actually a a Orchestrated Pump and dump and we'll talk about that in a second I'll show you what Cointelegraph actually said but we do need to be open to idea that this was a Brutal case of market manipulation that a lot of people actually made a lot of money And there was also a sudden surge in Bitcoin market buying on coin base yesterday before it happened Which stopped right before the fake news week? This is I can't imagine someone with insider trading by slamming the spot market buy button on coin base Although it's not it's it's also not all getting sold back and maybe that's one of the things that happened One of the things that actually did happen what what what the result of what actually happened yesterday I mean, it's actually not that bad and I'll show you why the first thing is we have Bitcoin not giving up all the gains So you've got Bitcoin at twenty eight thousand two hundred and thirty five and you can see that bitcoins actually challenging it There's 200 week moving average. So you see this little red line here most of most of there We've actually been about what we've just just just broken down below it. And if you look on the weekly We have been under this 200 week moving average for for quite a while now Interesting to see that this fake news pump and the fact that people still remain in is actually getting us to potentially Break this 200 week moving average The other thing which we're seeing is we're seeing some of the bubbles that are still Live or still green for the week as a result is now I see that now in the last hour I guess this last hour has been pretty brutal For alt but some of the the alt actually didn't manage to keep their gains and I'm gonna show you Some of those alts and maybe that's an indication of what's actually gonna happen when the real Bitcoin ETF Does eventually get approved and as I say, it's a win It's now not really an if and that's something that we we're gonna talk about the other thing that we have is We have Bitcoin Through this trend line and as a red capital says the weekly close about twenty eight thousand and fifty would bring Bitcoin one step closer To confirm breakout we have Bitcoin now up four point eight one percent in the month of October and remember October supposed to be A good month of Bitcoin. We really are expecting a very good month for Bitcoin Okay but let's talk about Why I think that maybe and I'm not gonna celebrate Fake news because I think that spell of writing fake news is not really good But let's talk about what happened and why I think that it actually could be so good for Bitcoin. So Let's quickly start off with what actually happened because I think that that's what everyone's what everyone's looking at so they Cointelegraph are Claiming that it was an intern or someone that posted the tweet without actually doing all the verification so here's the official statement Cointelegraph apologizes to its readers and Discusses its investigation into what led the posting of the unverified news on X about a spot Bitcoin now you ask me This is a case of market manipulation But let's listen to what they had to say They said we are incredibly grateful support and trust you have placed in our publication the last ten years We strive to deliver the most thoughtful engaging and impactful news in the cryptocurrency space Even though sometimes we may deliver it before the time Earlier today during the routine coverage Cointelegraph social media team posted a message on X without prior editorial approval That this that the United States Securities and Exchange Commission had approved black rocks I shares spot Bitcoin ETF. This was false the result of misinformation the news led Originated the news lead originated from an unconfirmed screenshot posted by an ex user who claimed it was from the Bloomberg terminal So this just shows you how scary Their their verification procedures are their their interns not even an intern They actually don't use the word intern here, but their social media team was allowed to post stuff on X without actually A it Verifying Cointelegraph did not ultimately publish an article with this incorrect information But we deeply regret posting this in error on X and the impact that it caused an internal investigation revealed that our standard Procedure for posting breaking news on social media wherein sources are required to be verified on social media was not followed and they actually show a picture of this chat No, no, you can you can choose to buy What they're saying or you can choose to question what they're saying I'm questioning what they're saying because I think that this must have been manipulation and the reason why I said that is well, you can see the buying before the time I showed you guys a whole lot of Metrics that actually show that on Derebit people actually bought on by but people actually landed up buying there was a spot buyer on on Coinbase which actually started buying to me this this just reeks of market manipulation and and and news getting out That's not it's not supposed to get out and then these guys actually trying to To Purposefully manipulate the market. Anyway be that as it may where are we now? They took the original tweet. They changed it to from breaking SEC approves ashes bitcoins party TF to Reportedly and then they deleted the tweet completely. So they're not now the tweets completely gone Later on in the day The editor -in -chief that editor -in -chief was on a panel with Mario Norfolk in Dubai they had a live event in Dubai and I want you guys to listen to what she actually said because I think that that's Like like the craziest thing that I've ever heard in my life to be honest I mean, let's watch and you tell me what you think Yes this was Disastrous and this is an example of what? Cannot happen, but this is what happens when we are Having constant pressure to be the first with every news and This is not a problem of of journalism Percept it's a problem of the society that and all the technology I'm talking about Indexation of Google and talking about social media where if you're not the first You're the boss There is no second third Instead of taking responsibility what she's saying is look You know This is because society puts so much pressure on us to actually be the first people to break the news. We have an excuse Because if we're not the first to do something on Google, you're the last But what about credibility because I think who's gonna believe this publication? When it's not the first time that this publication has actually given us fake news before I'm gonna remind you that they were also the Publication that said SpaceX sold 373 million worth of Bitcoin acquired in 2021 and 2022 and that turned out to be fake news, right? And this is the the fake coin telegraph article luckily though we had our Analyst we had Eric ball Jonas and James Safer who kind of said look, you know this this is This is complete nonsense We haven't seen anything like it and the truth is if the SEC had broken or had approved the ETF There would be some kind of post on the SEC's website There would be some kind of I don't think it would be done in in in in this room away in this Intelligram chats and that's I think I mean thank God that these guys caught it early because what you had yesterday was you had this Incredible pump and you know if people hadn't come out early enough this pump actually could have continued we were 30 on ,581 on this exchange But this pump would have actually continued and and that would have been pretty that would have been pretty scarce when I get fixed my my charts here So that would have actually been pretty scary if if if if the if the pump had continued Crazy and I actually wanted I want to show you guys a whole list of fake news story So this is of course the biggest fake news story that we've had the Bitcoin ETF approval The second one was the government selling the BTC dump and that was Arkham Intel remember that they had that fake alarm That was set on an account.
The Bitboy Crypto Podcast
A highlight from How To Earn Free AVAX! (Crypto Staking Passive Income Overview)
"Earning free crypto isn't hard, but you have to know what to do. So here's your crash course on how to earn free Avax and set up games that could change your life. It's time to discover crypto. Let's start with the basics here. Not your keys, not your crypto. It's not just a catchphrase, it could be the difference between a trip to the moon and a trip to bankruptcy court. Seriously, there's a huge difference between custodial and non -custodial staking. So before we go running off to earn our free Avax, let's break this down so we're all on the same page. Custodial staking means you are handing over your hard -earned crypto to someone else to stake it for you. This could be okay if you trust whoever you're giving your crypto to, but the whole point of crypto is to not have to rely on third parties like FTX or Celsius. If the entity you're trusting goes out of business or gets hacked or rug pulls, then you could be left with nothing. So remember, not your keys, not your crypto. I learned this firsthand when I lost two ETH on Celsius, and I don't want the same thing to happen to you. So be careful out there. That said, some of the biggest platforms that offer custodial crypto staking include Coinbase, Bitstamp, Binance, KuCoin, OKEx, and several others. But your access to these staking services varies depending on your jurisdiction, so make sure you look before you leap into this. Kraken was forced to settle with the SEC and pay a $30 million fine in 2023, and that included a requirement that Kraken shut down their Staking as a Service program in the US. So if you're in the US, the SEC is working hard to make sure that non -custodial staking is your only option to earn staking rewards, so you might as well start learning how it's done. Go ahead, smash that like button, subscribe to this channel and turn on notifications so you never miss out on any of this crucial crypto content. Okay, before we walk through how to stake Avax, first, some basic tools and information on Avax staking. The current estimated reward rate is 7 .9%. That means that, on average, stakers of Avalanche are earning about 7 .9 % if they stake their Avalanche for one year. A validator must stake at least 2 ,000 Avax to participate in the network consensus. While to become a delegator, you must hold 25 Avax. The minimum period for staking is two weeks, and the maximum period is one year for both validators and delegators. The official validators website for the Avax network has a lot of updated information about staking rewards, number of validators and delegators, and a staking rewards calculator in case you need to do a little moon math. I also recommend checking out stakingrewards .com, which is a great resource for information on any proof -of -stake network. It's also full of little tools and charts like this one that shows you the changes in staking rewards and price for Avax over time. As with most proof -of -stake networks, you can stake your Avax from a variety of different wallets. Hardware wallets like Ledger are always a popular self -custody option, but today I want to introduce you to a new browser extension wallet called Core, which just released their new public beta and has radically changed and improved the user experience for staking Avax. I'm actually really excited about this because it makes the whole process so much more smooth. You can find some written instructions for this on the Avax website, and I'll drop a link in the description below. But for now, I'm going to walk you through it step by step so you're ready to earn your free Avax. It's helpful to understand the chains or subnets on the Avalanche network, and they have three main chains that connect all of its subnets, the P -chain, X -chain, and C -chain. The P -chain manages validators and custom subnets, the X -chain is the default blockchain for the creation and exchange of assets, and the C -chain is the EVM -compatible chain that facilitates smart contracts and dApps. You'll need to transfer your Avax to the P -chain, but we'll get on that in a minute. First, you're going to have to install the Core extension on your web browser. Then you'll need to create a wallet and bring in at least 25 Avax if you want to delegate, and 2 ,000 Avax if you want to be a validator. Instructions on setting up a validator can also be found on Avalanche's website, but for this video, we're going to focus on delegating. To transfer Avax tokens into your brand new Core wallet, just copy the receiving address from your wallet and paste it in as the destination address on whatever wallet you're sending your Avax from. Go ahead and approve that transaction, and it should bring the Avax into your Core wallet. Pro tip. It's usually a good idea to do a test transaction first with a smaller amount of coins first. This will let you confirm that you've got the right address and everything is working properly, so you know you're safe to send the rest of your coins to that address. It might take a little bit for your Avax to come through into that destination wallet, so don't panic if they don't appear immediately. Once you connect your Core extension wallet to Core web, navigate to Stake and then to the Delegate panel. At this point, you'll see a prompt to Learn More, which links to helpful additional information provided by the Avalanche team. When ready, click on Get Started to proceed with delegating. This is the point in the process where you really need to understand subnets and the different chains in the Avalanche ecosystem. In order to delegate, Avax must be present on the P -chain, so you just transferred your Avax in on the X -chain. You'll need to transfer the coins over to the P -chain. This is pretty easy to do on Core, but you just need to know that going in so you can shift your Avax over to the right place to stake it. Then based on the total Avax available on the P -chain in your wallet, you can specify how much Avax to delegate and click Next. Core then provides users their choice of staking duration. User interface even includes a yield curve to show estimated staking rewards for each duration. Predefined durations range from one day to one year, and users can also choose their own end date if they really want to. Really great system here, highly customizable, and easy to use and understand. But remember, you have to stake a minimum of 25 Avax for at least 14 days in order to become a delegator. Next, users select the node they want to delegate their Avax to. Validators charge fees to those delegating Avax, and those fees, represented as percentages, are listed in the menu of possible nodes. I recommend a site called All Nodes to check out any node you're considered delegating to. Great resource, so you can look before you leap when choosing a validator. When you've chosen a node, click Select and then Next. Finally, input a wallet address for any staking reward to be delivered to. Users can choose between their connected P -chain wallet address or enter a custom address. Core lets you view a summary of your delegating process and your selections, and then click Submit Delegation to complete the process, and then confirm the transaction in the Core browser extension. Once completed, users will see their delegation was successful, and you'll be able to view the transaction information by checking the Avax subnet explorer or return to CoreStake to watch as you earn that free crypto. And that's it. You're all set up to earn free Avax on Core. Let me know down in the comments below if your planet is switching over to staking Avax on Core, and let me know what other proof -of -stake networks you're earning staking rewards on. That's all I got for this video, but I'll see you at the next one, and I'll see you at the top.
The Plant Movement Podcast
Miami Dade's New HEAT ORDINANCE: The Fine Print
"So talk to us and tell us what is proposed in this ordinance, aside from what we've spoken about, but what's in that five print that has, you know, most of the people that know about this ordinance upset? One of the things are the fines and the fines and the department that the county is going to start is going to be fine -based. So it's going to be strictly run and paid for by fines. So then that just means the inspector is going to come out. He's going to find something wrong so they can raise money for their department. So this is one of the, you know, one of the really most objectionable parts for us, which is the creation of a new agency or a new office in Miami -Dade County dedicated to the health and welfare. So it's not just heat. Right. And so what we start to see is that this can encourage health and welfare. Yeah. So where's the health and safety? Yeah. It's not just, I can't remember now if it's health and safety or health and welfare, you know, welfare of employees in Miami -Dade County. But in any event, it doesn't exist right now. It would be newly formed and funded 100 % by fines. And it will be fines in the agriculture, horticulture and construction industries only. Only. When there's a bunch of other industries that are outside labor as well. And so what happens is that right now, you know, we'll say, well, you know, is that really that bad? Well, look, first of all, OSHA already does this, right? And OSHA has a set of rules in place that we all follow, that we all know what they are, and they have to give us notice, for example, before they come onto our properties. In this, there is none of that. So what it opens up really, and I think what's most concerning and which should be concerning to everybody listening to this, is that now the county would have the unfettered right to come onto our properties, presumably under heat, but they could be looking for all kinds of other things because this would open the door to an expansion there. It's so unclear, but we don't want that door to open. I mean, we've got OSHA in place. They could start regulating every other aspect of our business. I mean, they could come on, they say they're coming in to look at heat. They could see when you're a tractor driver, someone driving a tractor. They're like, I think I need to start regulating the tractor driving. They need licenses to drive the tractors or this or that. Yeah, it can just open doors. Yes. What are some of the reasons people can get fines based off this new ordinance? Yeah, so the fines are based on the proposed ordinance says you have to have a heat plan in place, which we do already. We need to have that in place for OSHA. Which is just water. Well, water rest and shade, right? You know, under the general welfare clause of OSHA, we have to provide break rooms. And so this would mandate having this and then every having a mandatory 10 minute break every two hours. That's paid for. Having shade enough area, as it's described, so that every person on your work site could stand without touching each other. So it's pretty specific on infrastructure there. It applies to every outdoor environment, including people working under pull bars, for example. Yeah, that do have, you know, cover from the sun. It has a very specific range on the temperature of the water. So when you ask, you know, how are the fines imposed? The fines are imposed because they can come and test your water. And if it's one degree off, fines of ranging from $1 ,000 to $3 ,000 per person. They have a very specific range. It's 35 to 77. Under 35 is basically ice. But so at least 77 degrees. A maximum of 77 degrees. And then one of some other aspects of that is you have to verbally tell the people every two hours and every two hours. You have to verbally tell them. And if you don't, right. To drink water, take a break and drink water. And you could get fined if you don't. If you don't tell them. Don't tell them. So that's physically calling every single individual on staff, letting them know that they have to stop. You actually have to have enough supervision so that you've got a supervisor for 20 employees that would be there to tell them that every physically. So for every 20 employees, you've got to have a supervisor now in place to be able to tell them they need to drink water, which is something that they obviously know to drink water. If I'm not mistaken, you can get a fine for not telling them to drink water. Is that correct? That is correct. If you don't have that reminder in place. And look, and one of the outcomes of all of this that we see is that you're going to be creating a pretty antagonistic environment where it becomes very easy for an employee. Because there is, and gosh, there's just so many problems with this. In the fine print. Yeah, there's no due process. So which means that once the fine is imposed, there's no appeal process. You cannot appeal it. You cannot appeal it. So of course. What are the fines ranging in? Between $1 ,000 and $3 ,000 per person. So if you have 10, to say you have 10 people working in the field, that's let's just say a $2 ,000 fine. So that's going to be 2 ,000 times those 10 employees. So guys listen to this. $20 ,000. So every day you have to tell them every two hours to drink water. If you skip one time because you had a vacation planned or your wife got sick, or now you're in the hospital. Now you have your whole staff that can sue you on top of getting a fine just because you didn't tell them to drink water. And that's how it works. And you were also saying, which that is not fair. In my opinion, you were also saying that if your coworker, talk about the coworker. Everybody's liable on this. So even your coworker working with you, say someone's getting heat exhaustion. If you don't recognize that and report it, then you could actually fall as a potentially liable for that person also. So you can get sued. So it goes all the way to the landowners, all the way down the line from employees to supervisors, owners, landowners, and so
CoinDesk Podcast Network
A highlight from SBF TRIAL PODCAST 10/12: Caroline Ellison Testimony Day 3
"Welcome to the SBF trial, a Coindesk podcast network newsletter bringing you daily insights from inside the courtroom where Sam Bankman -Fried will try to stay out of prison. Follow the Coindesk podcast network to get the audio each morning with content from the Coindesk regulation team and voiced by Wondercraft AI. Before she worked at Alameda Research, Carolyn Ellison did not think she'd break the rules of morality and also accounting. Of course, this was also before her ex -boyfriend and boss, Sam Bankman -Fried, convinced her that such mores were worth bending for the greater good. The FTX chief's creative ethics entered his criminal fraud trial during Wednesday's plotting, but emotionally charged direct questioning of Caroline. According to the government's star witness, Sam was so engrossed in his conception of right and wrong that other people's stop stealing were at best guidelines, if even that. The only moral rule that mattered to Sam was whatever maximized utility, Caroline said. She testified Sam's goal was to create the greatest good for the most number of people. Therein lies the altruist. Sam styled himself a champion of the effective altruist movement, an offshoot of utilitarianism whose proponents seek to make as much money as possible and that was how Sam did it, at least. For a time, his crypto empire appeared to be rocketing the quirky quant toward maximum philanthropic velocity. He'd already started giving massive sums to politicians, charities, and pet causes he thought could save humanity from itself. It came at the cost of his customers, according to prosecutors, as well as Enron John, Ray III. The crisis -era CEO of now -bankrupt FTX Group has spent the past 11 months on a highly lucrative global treasure hunt to claw back millions of donated dollars to make FTX customers whole. Regardless, Sam's maximal utility prompted Caroline to shelve whatever rulebook she'd followed before. It made me more willing to do things like lie and steal. At Alameda, she testified. Her steady words, they later wavered, captured the jury's unbroken attention, a rarity on a day mostly spent discussing balance sheets that almost put Judge Kaplan to sleep. Caroline's seven -hour long direct questioning delved into how things broke bad for the empire of Sam. Months before Alameda collapsed, Caroline said she worried the crypto hedge fund's borrowing of billions of dollars from FTX customers would be both companies undoing. She was right. That said, she said she did nothing at the time to stop the lies enabling it. Instead, she perpetuated them. She bamboozled Alameda's lenders with them. Through a tremendous feat of grotesquely atrocious accounting principles, Caroline said she cooked up seven flavors of balance sheet to serve lenders like Genesis, a subsidiary of Coindesk parent digital currency group, who by June 2022 had grown money hungry in the face of its own possible collapse. Sam chose the seventh. There, Caroline had hidden Alameda's massive FTX borrows as perhaps more palatable long -term loans. I didn't want Genesis or others to know Alameda owed money to FTX, she said. Throughout Wednesday, she repeated what that really meant. Alameda owed money to FTX's customers. It had taken their money to help it make money to help make Sam the money he needed to help save the world. Caroline Ellison pled guilty last December to seven counts stemming from her time running Alameda Research. On Wednesday, she told the jury that she was taking responsibility for her actions. She didn't really say whether her past failure to do so was a result of her steadfast belief in Sam's vision or something else. No matter, she stuck by risk -taking Sam until the castle imploded. This was the man who'd flip a coin that could either destroy the world or make it twice as good, she said Tuesday. Ultimately, the truth did come out, killing FTX, Alameda, their lenders, investors, and customers, and sparking criminal investigations into Caroline and the other members of Sam's inner circle. She said her house was raided by the FBI before she began cooperating with prosecutors, a contrast to the quiet coder, Gary Wang, who volunteered himself to the government barely a week after the company's demise. Deputy Court Clerk Andy Mohan slid Caroline a baby blue tissue box as she tearfully called out to the people that trusted us, people she said she betrayed. Caroline did not betray Sam's own state of mind during all this. She isn't allowed to because of the bothersome mores. That said, she returned to a favorite topic of this newsletter, the artifice of this alleged fraud. Remember the Toyota Corolla we were looking for in last week's newsletter? Caroline told the jury she saw Sam driving one at their home in the Bahamas. He'd switched from an unnamed luxury car to the most normal automobile imaginable because she said he said it would be better for his image. Sitting in the courtroom hearing this, Sam, who was tapping away at his computer when Caroline later broke out in tears, shook at his highest frequency yet. Judge Lewis Kaplan continues to express his respect for the attorneys trying the case, but still wound up almost mocking lead defense counsel Mark Cohen on Wednesday after he objected to Ellison saying she believes former FTX executive Nishad Singh told her that offsetting ledger entries in FTX and Alameda's books were meant for auditors. I believe this is Wednesday. I believe this is Wednesday. That's not speculation. Overruled, the judge said getting the ruling in as Cohen said, withdrawn. He appeared to be losing his patience with the prosecution as well, chiding Department of Justice attorneys across Tuesday and Wednesday for mislabeled exhibits and seeming exasperated with their extensive focus on spreadsheets. The overflow room where most reporters and members of the public are stashed during trial days burst into laughter after Ellison said, Alameda paid what I believe was a large bribe to Chinese government officials to get some of our exchange accounts unlocked and Assistant U .S. Attorney Danielle Sassoon said deadpan, well, let's break that down. During a back and forth after the jury left the room, Judge Kaplan again took aim at arguments advanced by the defense. Cohen and his team asked for permission to bring up artificial intelligence firm Anthropix recent fundraising news. A report said it's in talks for a juicy valuation, saying it speaks to questions of portfolio investing. Prosecutors objected, saying the current value of Anthropix stock is immaterial to whether or not Bankman freed misappropriated customer funds, a view Judge Kaplan agreed with. This is like saying if I broke into the Federal Reserve Bank, made off with a million dollars, bought Powerball tickets and won big, it's okay, he said. Caroline Ellison has one more day on the stand, facing Defense Attorney Mark Cohen as he continues his cross -examination. He only had a few moments with Ellison on Wednesday, trying to ask a question about FTX's fiat account and how it tracked its funds. However, after some initial back and forth, it was clear he and Ellison were on slightly different pages about how different accounts were referenced, culminating in the best objection we've heard so far this trial. Objection, Your Honor, this is confusing, Assistant U .S. Attorney Danielle Sassoon said. Judge Lewis Kaplan seemed to agree, cutting the jury loose. It was just around 4 p .m. 30 minutes early, but keeping attorneys in the room a bit longer to sort out certain issues. It's unclear how long Cohen's planned cross -examination will take. One thought that's striking. While the defense team argued for the right to question prosecution witnesses about recreational drug use, Judge Kaplan said, he and the DOJ need prior notice outside the presence of the jury. We haven't seen any filings as of Wednesday early evening, and the topic did not come up at the close of Wednesday's court session. At any rate, once Cohen is done, prosecutors will have a chance to conduct a redirect. Once that's done, we'll likely hear from BlockFi's Zach Prince. BlockFi both lent funds to Alameda and was briefly set to be acquired by FTX before it all came crashing down. Want to follow along? Sign up for Coindesk's new daily newsletter, The SBF Trial, bringing you insights from the courthouse and around the case. You can get the podcast each day right here by following the Coindesk Podcast Network. Thanks for listening.
Defocus Media Podcast Network
"maxima" Discussed on Defocus Media Podcast Network
"I'm Disneyland. It doesn't matter what mode I'm in. I am happy and excited, and they're for the patient to have a good experience. And I think customer service has changed not only from COVID, but just in general. And I think having a good attitude and sometimes like, hey, I'm the doctor. This is what's best for you. Like I did with that patient. And if I'm wrong, I'm wrong. I'm the first person to say, okay, we tried it. Let's try something else. Some other clinical pearls, especially practice building, is when someone's on the phone, making an appointment. A little trick is, are you doing a glasses exam and most people say or contact lens exam? And what you should really be saying is, are you doing a glass of exam or glasses and contact lens exam? For them to understand that there are two things going on in that contact lens exam, you're still doing your whole full. And then that also like, oh, I have to buy glasses and contacts. So kind of plans to seed there. And I have two more. So I love this is my favorite part of doing stuff like this is like, okay, these are all the tricks I know. Like what are the ones you know? Hope everyone's taking notes here. Yes. So also when someone's on the phone, this is a doctor very successful doctor up in Seattle, Washington told me. When someone calls his office and he's in tech land, right? So he's got Amazon there and Google and everything. He's like, when they're making the appointment, we ask them, are you in those old contacts like those two week or monthly contacts or are you in the new daily disposable? So they're already like, what? I have old technology. So he's genius. I think that's brilliant. And I kind of use that a little bit in that if they're in a very old lens that has very low DK.
Defocus Media Podcast Network
"maxima" Discussed on Defocus Media Podcast Network
"All right, that's a pretty hype video. To be honest, I don't even wear contacts and I feel like I want to start wearing them now after watching that video. Actually, I have tried these on and they're extremely comfortable for even for somebody who doesn't work contacts. I got used to them super quick. But you're watching that video. There's so much opportunity. We know whether you're talking about just your younger patients or we're talking about pre press or existing press BOP. There's so many opportunities there for us to help our patients with this new technology. I'd love to talk about the pre presbyopic category because I feel like that's one that it's a little overlooked. We get people coming in mentioning these little complaints, but we say, oh, you're only 38. And I'll talk about it in a couple of years. Danielle, I feel like I've heard you talk about this before and I know that you have some great info and an example even to share with us. Tell us a little bit about that presbyopic category. Yeah, so I think one of the things I always talk about is the importance of the history, right? And what a kind of questions are you asking during the history? So one question I always ask is tell me what you do for work, how do you use your eyes all day, right? And the person is usually going to say computer. So I'm going to drill down on dual monitors, our laptop, desktop, that sort of thing. Are you wearing your glasses during the day? Are you wearing your contacts during the day? Once we get all that info, in my opinion, the most important question is, how do your eyes feel at the end of your work day? And a lot of times that your patient is going to illuminate some things that when they came in, everything's fine. But if you ask how their eyes feel at the end of the work tip, oh, they're tired.
Defocus Media
"maxima" Discussed on Defocus Media
"It's a whole different conversation than what it used to be or what we were taught about in school. So that's a little bit of what I want to get into today for sure. And there's going to be some questions on that. But before we dive into that, I myself am a business owner. I have a couple of practices. And I know there's other people out there who are as well watching listening who are business owners. And as a business owner, there's one thing that drives all other things. Okay, maybe the second thing, the first thing is we want to take care of our patients, right? But the second thing is the bottom line. If we don't do well if our business doesn't do well, we can't keep helping our patients, right? So when we're looking at the potential financial impact of this, Danielle, you're talking about people wearing their lenses less or dropping out of contact lenses. There's some stats I was looking at here. 52% of those over 45 will drop out of their contact lenses as they age or develop presbyopia. That's over 50%. Over half of contact lens wears, once they hit 40, 45, they start to drop out of their contacts. What is Danielle, I'll start with you again in your opinion, you know, the impact of that. And what are you seeing? Are you seeing financially on the business an impact of people dropping out? Well, I think when you think about it from a business perspective, you have to know the stats, right? About half of your applications over the age of 40 are going to drop out of contact lens where and if you ask those patients why a lot of time is vision or comfort, right? So when you know kind of what you're working with, it allows you to improve upon that. So instead of saying, we just let these patients drop out of contact lens where what we have really done in our office is created this prototype for flexible contact lens wear.
Defocus Media Podcast Network
"maxima" Discussed on Defocus Media Podcast Network
"It's a whole different conversation than what it used to be or what we were taught about in school. So that's a little bit of what I want to get into today for sure. And there's going to be some questions on that. But before we dive into that, I myself am a business owner. I have a couple of practices. And I know there's other people out there who are as well watching listening who are business owners. And as a business owner, there's one thing that drives all other things. Okay, maybe the second thing, the first thing is we want to take care of our patients, right? But the second thing is the bottom line. If we don't do well if our business doesn't do well, we can't keep helping our patients, right? So when we're looking at the potential financial impact of this, Danielle, you're talking about people wearing their lenses less or dropping out of contact lenses. There's some stats I was looking at here. 52% of those over 45 will drop out of their contact lenses as they age or develop presbyopia. That's over 50%. Over half of contact lens wears, once they hit 40, 45, they start to drop out of their contacts. What is Danielle, I'll start with you again in your opinion, you know, the impact of that. And what are you seeing? Are you seeing financially on the business an impact of people dropping out? Well, I think when you think about it from a business perspective, you have to know the stats, right? About half of your applications over the age of 40 are going to drop out of contact lens where and if you ask those patients why a lot of time is vision or comfort, right? So when you know kind of what you're working with, it allows you to improve upon that. So instead of saying, we just let these patients drop out of contact lens where what we have really done in our office is created this prototype for flexible contact lens wear.
Defocus Media
"maxima" Discussed on Defocus Media
"That makes it two for two, doctor Danielle, when did you get engaged recently as well, right? Yeah, the 4th of July last year. Oh, it's not as recent, but I got you. Well, congratulations to you both. And how tall are you, doctor T? I'm just under 6 feet. Cool. Cool, good. Another tall person on the podcast. I appreciate it. Doctor Richardson, I'm sure many of our viewers and listeners are very familiar with you, but tell us a little bit about yourself. Yeah, so I am doctor Danielle Richardson. I am a practicing optometrist in Los Angeles, California. I work at a private practice called Zach, and I'm the West Coast director of clinical care. So I help on board new doctors and standardize our care and our training practices across all of our offices. And my graduated from optometry school at IU school of optometry in 2015. And a fun fact about me is I have a book coming out in May. It is called the glow up journal. It is going to be published via Simon and Schuster pre order starts March 9th and the book is released on May 9th. The all major retailers. Amazing, wow. That's fantastic. Congratulations. We'll definitely make sure we plug that a little more when we get a chance. How about the fun fact that you are sitting where exactly right now? I am sitting on the floor and I do teach yoga, so they made a joke that I am doing a yoga pose right now, which I actually am my legs across my chorus engaged, my shoulders are back and I am ready to have our conversation. Leave it to the yoga instructor. Now look at me. I gotta fix my posture and make sure that you inhale and everyone take a deep exhale. Pull in the pulling the navel and like all of that kind of stuff. All right, everybody who's watching right now is listening.
Defocus Media Podcast Network
"maxima" Discussed on Defocus Media Podcast Network
"This is a defocused media production. What are you enjoying? What's up everyone? It's your favorite up time to talk to Darrell Glover. And I'm doctor Jennifer Lee, resident optometry nerd. And welcome to defocus media optometrist number one podcast where we discuss the hottest topics, latest technology, eyewear, practice management, and more. So sit back, relax, and D, focus. All right, hello, hello everybody. Welcome. Welcome to a special live broadcast of the defocus media podcast. I am your host for this special broadcast doctor harbir cyan. And I'm joined by two wonderful doctors who are here to talk to us about making the max impact on our presbyopic patients, doctor Danielle Richardson and doctor melody to have a coli. Thank you so much for joining me on this live broadcast. So yeah. Thanks, sorry. Clearly a little bit of a lag there. It's great to have you guys. Why don't we start with a quick introduction? Let's start with doctor melody to have a Cole. Please tell us a little bit about yourself, who you are, where you're from. And something fun. I'm doctor melody to have a coli. I go by doctor T for short, except I'm really tall. I've been working in optometry since high school. I was just helping the front desk, optician, technician, and college. I went to UC Berkeley, and I moved to San Diego, been here ever since. Something fun. I just got engaged on Valentine's Day. Wow. Congratulations.
Defocus Media Podcast Network
"maxima" Discussed on Defocus Media Podcast Network
"Your ads too high. Because it needs the minimum ad to get you that right calculation. And that's why in your 40s, you're in a low low in your 50s, you're in a mid mid and you're 60s, you're in a mid high. You're almost never actually not even supposed to do a high, high. There's one doctor out there. He's like, I did it. I'm like, okay, you're a rebel. So that is why it's the ad is so potent because of the design. It's not like you're wrong. You don't know how to prescribe glasses. You're like, no, I've been doing that for years. I know how to do that. So that's the little trick so it doesn't give you that speed bump. Just cut it back by 50 or 75, go through it. Spherical equivalent, if this says the stigmatism is too high, just cut it back a little bit too. 'cause you can kinda, you can get away with some more. Fudge the numbers a little bit. Just a little, just a little. It's so good to you, I agree. And it gets you close. You're still in that wow factor ballpark. Yeah. Amazing. Thank you guys so much. I really appreciate it, doctor T, doctor Richardson. Thank you for sharing your amazing insights and pearls of wisdom. I am definitely going to take a lot of this and implement it into my office right away. Thank you to Johnson & Johnson vision for partnering with defocus media for this live broadcast. I hope you guys were taking notes and if not, this will be will be republished as a podcast on the defocused media platform. So make sure you stay tuned for that. Thanks again for watching guys. Take care. All right guys, good night.
Defocus Media
"maxima" Discussed on Defocus Media
"Your ads too high. Because it needs the minimum ad to get you that right calculation. And that's why in your 40s, you're in a low low in your 50s, you're in a mid mid and you're 60s, you're in a mid high. You're almost never actually not even supposed to do a high, high. There's one doctor out there. He's like, I did it. I'm like, okay, you're a rebel. So that is why it's the ad is so potent because of the design. It's not like you're wrong. You don't know how to prescribe glasses. You're like, no, I've been doing that for years. I know how to do that. So that's the little trick so it doesn't give you that speed bump. Just cut it back by 50 or 75, go through it. Spherical equivalent, if this says the stigmatism is too high, just cut it back a little bit too. 'cause you can kinda, you can get away with some more. Fudge the numbers a little bit. Just a little, just a little. It's so good to you, I agree. And it gets you close. You're still in that wow factor ballpark. Yeah. Amazing. Thank you guys so much. I really appreciate it, doctor T, doctor Richardson. Thank you for sharing your amazing insights and pearls of wisdom. I am definitely going to take a lot of this and implement it into my office right away. Thank you to Johnson & Johnson vision for partnering with defocus media for this live broadcast. I hope you guys were taking notes and if not, this will be will be republished as a podcast on the defocused media platform. So make sure you stay tuned for that. Thanks again for watching guys. Take care. All right guys, good night.
Defocus Media Podcast Network
"maxima" Discussed on Defocus Media Podcast Network
"And J&J almost never actually discontinues things. So those are gone. These are the acute oasis one day max multifocal. So they are the most amazing thing. Talk to your local reps, get a trial kit, try it. We kind of get bored at one or two one or two, right? Like this is exciting and new, and you find your way to fit it. It's a little different than other lenses. And then you'll have patients that are so excited that you help them see better. That is the win for me. Great. Thank you. Doctor tabaqui calling me out here on my own podcast. I appreciate it. No, that's good. No, it's good to make sure you absolutely very important to make that distinction because there are two totally different technologies. And the multifocal technology, the new one, is actually incredible. So not saying anything about the old one, the new one's amazing. So. The reason I wanted to clear that up is because when I was first told about these contacts, I'm like, oh no, those don't work. And she's like, no, these are completely different. And I've found a lot of other doctors have thought the same thing. So absolutely. I appreciate it. And then absolutely you have no, nothing against people calling me out or roasting me on the podcast, you feel free to do that. Giving Danielle now free rein to say whatever she wants to me, please Daniel. Any last clinical pearls that you want to share? Yeah, so specifically about the Aki bioasis one day max multifocal. We touched a little bit on it, but the multi focals in the acube portfolio have pupil optimized design, meaning that the center zone for clarity varies based on pupil size, pupils is people size is variable. With age and refractive error. So younger patients and nearsighted patients have larger pupils in older patients and farsighted patients. So one of the things we've talked about is not over plus
Defocus Media
"maxima" Discussed on Defocus Media
"We could definitely do single vision distance contacts, but you'll still be putting reading glasses on. Well, that's okay. I'm okay with that. I'm like, listen, there's this really cool new product. Like, let me help you. Let's just try it. There's no, there's no like lose for you. Let's just try it on. She's like, okay, I don't know how I convinced her. I finally convinced her because I'm just so confident in these lenses. And I was crossing my fingers that they worked. But I knew they were going to work. Minus the astigmatism part. So she's like a one 50 with 75 still and then one 75 with 75 still, but against the rules. So that should technically be harder. medium. This is a 57 year old and you think only a medium because this ad is so potent and so well designed with the people optimized design. They're magical. They really are. I feel like I'm a magic wand. And here, poof, your life is better. We put them on and she could already tell they're comfortable. I was like, they'll be like that all day long. The wedding agents embedded in the lens. They have to use LED filter on the top and bottom. It got spread out better. Like nobody has dryness with this lens. And has the blue UV, so it's going to help with your glare and halos at night as well. And the vision, she looks at the chart, she's like, yeah, I could read the bottom. I'm like, that's 2020. I don't know why I gave her a near card 'cause I almost never give near cards anymore. I'm just like, take your phone out. Trouble. Exactly. No, she read all the way on the near card. I think it was kind of early on in testing this lens out. But most always I say grab your phone and I have them pull up text messages. This is like my little pearl, and I kind of look over and I see how big they're font is. Because not everyone, especially presbyopic age, realize they can change the font size. And I was like, oh, you know, you can make your font bigger, like, really? Show me. I'm like, okay, settings, accessibility, font size, turn the large text on, and then there's like a slider at the bottom, and I'm like, okay, just play with it, go all the way to the right, and I could read your text messages from across the room. And then go back until you're comfortable. This is your device. You should set it for you. So I do that every single day at least once a day. So she was ecstatic. She's 2020 distance, 2020 reading. I was like, okay, come back in a week. Here's some samples. She comes back, she's a near tears. She's like, you changed my life. I absolutely love these. I'm so glad I listened to you. And I was like, that's right. Just so happy for her. She was so frustrated so miserable, dryness. She's post late, so it can't get lasik again. Just like she was at her wits end and to have a product that visually works and then is comfortable, when you tell a patient, I know we talked about costs a little bit early on. When you tell a patient, the actual technology in the lens, they have blue UV filter in them. They have all this dryness. You're not going to have dryness at all. They have this is the best multifocal on the market. When they go and get the price in optical later, they know why. And I kind of warn them. I'm like, these are also the most expensive contexts.
Defocus Media
"maxima" Discussed on Defocus Media
"But instead, and it comes from the prescriber, right? I'll say, you know, we usually do a daily multifocal and I'll be like, I recommend, you know, this person do one 90 pack per eye to start off with. And so that has been something that has been powerful for our business because sure, they buy one 90 pack per eye now, but they might buy more down the line or next year their buying 6 months supply or 9 months supply, et cetera, et cetera. So we definitely see the dropout, but we focus on number one, what is the underlying reason for the dropout and number two, what is the solution that we can offer you that's going to be a win win for you, the patient, and also for us the business. I like that. I think we are unfortunately, we've been beaten into us that we need to do the annual supply. And I think that's two our detriment sometimes if we live and die by that, I like that you have this flexible approach. I think that's better for the practitioner. It's better for the business better for the patient. we know patients are dropping out and that can impact negatively impact the bottom line. Today we want to talk about the oasis max for presbyopia and how that could positively impact the bottom line. Wondering if doctor T if you could chime in on that and how maybe that could help us? So similar to doctor Richardson in that I do have a lot of part time wearers.
Defocus Media
"maxima" Discussed on Defocus Media
"To start off did everyone know optometry started from door to door salesman going around selling reading glasses. Yeah, so this is our bread and butter. This is our day in and day out. And it's the same thing we all hear. My arms aren't long enough, which I always joke about. I'm like, I have extra years. My arms are very long. Yeah, exactly. I'm getting headaches. Eye strain, just everything we're hearing. What's interesting to me is when you come out of school, you're like, all right, they're 42. They have to be and there are plus one ad. Let's get it going. I had a 60 something year old today. I almost not still using that still not using reading glasses. So I think that's been interesting in the exam lane is with the devices we have and making the font bigger and being on the computer and hopefully pushing it back a little bit. I feel like it's happening a little later and maybe I'm partly in denial because I'll be hitting the big four O next year, but I know I don't look it, but that is interesting to me that I was so trained that 41 two three four and some of them still come in complaints that early on, but it's happening a little later. Well, so it's funny you say that and definitely I agree, you know, I have a lot of patients that come in and they're 50 something and they're like, oh, I just recently picked up like a plus one and it's more than enough. But of course there's people on the other end of the spectrum. We're going to talk a little bit about that as well. But and so essentially, what you guys are telling me is this range of conversations in the exam room, right? So we're going from people who are changing their habits and their contact lens where they would like to wear their contacts more, but they can't or they don't.
Defocus Media Podcast Network
"maxima" Discussed on Defocus Media Podcast Network
"To start off did everyone know optometry started from door to door salesman going around selling reading glasses. Yeah, so this is our bread and butter. This is our day in and day out. And it's the same thing we all hear. My arms aren't long enough, which I always joke about. I'm like, I have extra years. My arms are very long. Yeah, exactly. I'm getting headaches. Eye strain, just everything we're hearing. What's interesting to me is when you come out of school, you're like, all right, they're 42. They have to be and there are plus one ad. Let's get it going. I had a 60 something year old today. I almost not still using that still not using reading glasses. So I think that's been interesting in the exam lane is with the devices we have and making the font bigger and being on the computer and hopefully pushing it back a little bit. I feel like it's happening a little later and maybe I'm partly in denial because I'll be hitting the big four O next year, but I know I don't look it, but that is interesting to me that I was so trained that 41 two three four and some of them still come in complaints that early on, but it's happening a little later. Well, so it's funny you say that and definitely I agree, you know, I have a lot of patients that come in and they're 50 something and they're like, oh, I just recently picked up like a plus one and it's more than enough. But of course there's people on the other end of the spectrum. We're going to talk a little bit about that as well. But and so essentially, what you guys are telling me is this range of conversations in the exam room, right? So we're going from people who are changing their habits and their contact lens where they would like to wear their contacts more, but they can't or they don't.
Defocus Media
"maxima" Discussed on Defocus Media
"Thank you so much for joining me on this live broadcast. So yeah. Thanks, sorry. Clearly a little bit of a lag there. It's great to have you guys. Why don't we start with a quick introduction? Let's start with doctor melody to have a coal. Please tell us a little bit about yourself, who you are, where you're from. And something fun. You're muted. So let me give you. Let's try unmuting melody. This is the beauty of being live, by the way. This is the kind of stuff we got to deal with. Love it. Can we hear me? Yes. Okay. I'm doctor melody to have a coli. I go by doctor T for short, except I'm really tall. I've been working optometry since high school. I was just helping the front desk, optician, technician, and college. I went to UC Berkeley, and I moved to San Diego, been here ever since. Something fun. I just got engaged on Valentine's Day. Wow. Congratulations. That makes it two for two, doctor Danielle, when did you get engaged recently as well, right? Yeah, the 4th of July last year. Oh, it's not as recent, but I got you. Well, congratulations to you both. And how tall are you, doctor T? I'm just under 6 feet. Cool. Cool, good. Another tall person on the podcast appreciate it. Doctor Richardson, I'm sure many of our viewers and listeners are very familiar with you, but tell us a little bit about yourself. Yeah, so I am doctor Daniel Richardson. I am a practicing optometrist in Los Angeles, California. I work at a private practice called Zach, and I'm the West Coast director of clinical care. So I help on board new doctors and standardize our care and our training practices across all of our offices. And my graduated from optometry school at IU school of optometry in 2015. And a fun fact about me is I have a book coming out in May. It's called the glow up journal. It is going to be published via Simon and Schuster pre order starts March 9th and the book is released on May 9th. The all major retailers. Amazing. Wow. That's fantastic. Congratulations. We'll definitely make sure we plug that a little more and we get a chance. How about the fun fact that you are sitting where exactly right now? I am sitting on the floor and I do teach yoga, so they made a joke that I am doing a yoga pose right now, which I actually am I legs across my cores engaged, my shoulders are back and I am ready to have our conversation. Leave it to the yoga instructor. Now look at me. I gotta fix my posture and make sure that you inhale and everyone take a deep exhale. Pull in the pull in the navel and like all of that kind of stuff. All right, everybody who's watching right now is listening. Make sure you fix your posture for this for this conversation. All right. Maybe partway through we'll ask everybody to do downward dog or something like that. Okay. But we're really here to talk about presbyopia and giving the maximum return on presbyopia. I'm finding more and more that this discussion of presbyopia is becoming more common, of course, aging population and all of that. But there's a lot more conversation happening in the exam. And I want to kind of if you could each of you one by one share what you're hearing and what kind of conversations you're having, Danielle, we'll start with you.
News 96.5 WDBO
"maxima" Discussed on News 96.5 WDBO
"Came on anything. Nobody setting is really for everyone. Yeah, I was somewhere in gas on the Ramana Ramana. We'll see about that. Mario a pre Babel and LaMagna Anna Holland, the Florida thing they say Traced oil, a Maxima say no one's come for free. Rico Several so called battle a failure. Yeah. Not there. Dear Achim, Pero you're in the perimeter there on me Own mother. So we could just go yet off. There is no comeback kid every meadow home. She gets a little bit better. I think, Erica more you think, Get off where they cannot drag a fault on John John. Yeah, but you come on. There you go. E o Thank you. Come on my back. This was the major number of myself more and more. Someone know you meant that you know, Mama Mama. Did you look who's the loser? Pop baby? Don't let this village where they cannot go far..
News Talk 1130 WISN
"maxima" Discussed on News Talk 1130 WISN
"Member to mind means those of you and Mac would do. But nine years he was the superintendent, the MCW on themes Ville School district and they were storming years. A lot of people felt that he was a visionary. A lot of people didn't like the direction that he went mixed reviews from the teachers. Maxima quad mixed reviews and the parents anyway. He left in 2017 to become the superintendent of schools in Athens, Georgia. He was fired only a couple of years later. Athens, Georgia is a very liberal. City. It's college town. It's where the University of Georgia is. The school district is actually the entire county, Clark County, Georgia. They gave him a bio and gave him a few $100,000 to go away without serving out his entire contract, and there were criticisms of a lot of the things that he attempted to do down there. It kind of reminded me of the situation. In Mac Juan when Either to his creditor discredit. When you try to shake things up. A lot of people aren't going to like it from the from the school perspective, anyway, that demand maids Last stop. As I said Athens, Georgia is one of the three finalists to be the new superintendent of schools in you can all guess this while the Tosa So if you think while we toast the school's ever been controversial enough here comes to mind means which they will be controversial gate controversy follows him and again. I'm not saying that's necessarily a criticism. He's considered to be an educational innovator and Mac want he went. They implemented a lot of changes, including the structure of the school year and the school day and so on. He's a major proponent of diversity, learning. On the other hand, he's been a champion of charter schools, which I support. Tries to introduce charter schools and toasted There will be objections of that if he tries to push a diversity agenda. He'll get a lot of support for that in that liberal community, but it'll be a mixed thing. There are three finalists. For the position and the toast of school district has named them the superintendent in manager walked. Mark Hansen is one of them, and there's a guy from Hinsdale, Illinois, at least of Just 804 in Illinois. It's in northern northern. It's this called the super dead of the northern suburban Special Education District in northern Illinois in the northern Chicago suburbs. His name is Kirch Night or in the third one is Dermot meets. That Means is the only African American. It's Wauwatosa means is well known in the community. I suspect But it's wired and he's likely to get the position And as I say, you can expect controversy to follow in in Athens, Georgia, they pretty much ran him out of the community because they were appalled at some of the shakeups that occurred, which doesn't mean they were bad. And in my Kwan themes, fellas, I said he was generally highly regarded, but not without a significant amount of controversy. I will tell you that in order to get him while we're toast is gonna have to pay a lot of money. When means was that Mak Kwan themes Phil. He was one of the highest paid school superintendents in the state of Wisconsin. All sorts of interesting stuff more bad than good. That was a neutral, alright Spring green cash contest. Go up there and, well, what else you want to start paying means a salary If he gets the job, Here's your chance to win $1000. The nationwide keyword this hour in the spring green cash contest is work. You have until 5 55 to go to news talk 11 30 dot com and enter the word work. W O. R K Go to the break with this thought through our false The Christian Yelich signing is going to turn out to be the worst move in the history. The Marquis Burger franchise that's all over social media right now. Paul says false. Uh, there are many who believe that he's essentially toast that the back problem is chronic, and it's the reason he couldn't hit. And many have observed that he just has lost all of his power. The reason. I think it's fair to say false ears. I think right now the Brewers could still get rid of him if they wanted to. The problem is if a guy under performs for two years that he has a big, long term contract, he's not tradable because nobody would take on the contract kind of Ryan Braun tail end of his career that he was hard to move because he was making more money than he was worth. I think that some big market teams would still be willing to take a chance that Christian would turn himself around so you could get out from under it. So if you can get out from under it, it's just a wash now. Get the best scenario, of course, is you don't want to get out from under it that even got regains his form and comes back to the level that he was when he signed the contract extension and he turns out to be worth it. But I still think that they've got about a year where they have an escape clause. The fact of the matter is, players go in and out of form. The concern obviously is is there now appears to be an explanation for how he went from being a great hitter to an awful one, and that is He's got a bad back, and it stops him from having the swing that he had in this spectacular years. In that back problem now looks like it could be chronic. And might never be right. We don't really know. Um Social media people Big May you know, there's all these sports sites that are out there as well and they're raising the speculation, but There's also just this big market kind of bias, and they look at a community like Milwaukee. They want Milwaukee to have overpaid. They want the honest thing to be a busted Milwaukee. They just seems to be a resentment. When a smaller market team actually somehow does do with the big markets doing sign a guy to a big name contract. The reality is is that if Christian signed with the Dodgers for this money, they could eat that because they have so much money. They can afford a bad signing or two or three, whereas the Brewers probably can't Of I don't know how much of this for me is going to be able to regain or not. I would say that the start of the season, though, is very concerning. Especially the notion anybody was that a bad back. You ever has had a bad back. Right in broad..
News 96.5 WDBO
"maxima" Discussed on News 96.5 WDBO
"What my company. Look Cinquanta. Cinco Maxima Surrounds the same tie goes numb Onion and a cherry Linda. How little upward to the bakery. Only way I'm gonna report very cold Lajos ability Hollow. I miss more school policy. What They were in danger. Oh, I thought I'd be good at what you coming. Don't worry..