40 Burst results for "One In A Million"
A highlight from Could Oil and a Gov't Shutdown Screw Up Powell's Plans?
"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 Friday, September 22nd, and today we are talking oil, macro, everything that could throw the economy off. But before we get to that, 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 at the show notes or go to bit .ly slash breakdown pod. All right, friends, well, we are sort of continuing the macro story today that we picked up around Powell and the FOMC this week. And one of the questions that Powell was asked was about risks that threatened to knock the economy off course. Two that he mentioned that we're going to spend a little time on today include oil prices and a potential government shutdown. Let's start with oil first. The price of crude oil has steadily increased over the past four months. From a low of around $70 in June, oil reached almost $90 a barrel for the US -based WTI benchmark contract and $95 per barrel and $95 per barrel for international Brent crude earlier this week. The price increase for crude has driven US gas prices back above $3 .80 per gallon, the highest level since last October. Overall, gas prices have ramped up by 20 % since the beginning of the year, according to AAA. Now, there are a number of factors all contributing to steadily increasing oil prices since the June lows. The first is OPEC+. The economic group of oil producing nations led by Saudi Arabia and Russia have recently curbed output. Production cuts, which were agreed to late last year, have been gradually implemented over the past six months. In July, Saudi Arabia voluntarily cut an additional 1 million barrels per day from its production quota, about 10 % of its previous output. Existing production cuts across OPEC have already been extended into next year and analysts expect Saudi Arabia to extend their voluntary cuts until March. On Thursday, Russia further constrained supply by banning the export of diesel and petrol. Russia is one of the world's largest suppliers of diesel alongside their status as producing around 12 % of the global supply of crude oil. The International Energy Agency said last year that Russian refineries produce, quote, roughly double the diesel needed to satisfy domestic demand and typically export half their annual production. Analyst opinions focused on the simplest explanation for the ban, retaliation for sanctions. Henning Gloestien of the Eurasia Group said, Russia wants to inflict pain on Europe and the U .S. and it looks like they're now repeating the playbook from gas and the oil market ahead of the winter months. They're showing that they're not finished using their power over energy markets. The Kremlin said the ban was temporary and aimed at addressing rising energy prices in domestic markets. However, they gave no timeline on when the ban might be lifted. U .S. and European policymakers have largely banned the importation of Russian refined fuel since February, which has required Russian supply to be routed through third party regions including Turkey, North Africa and Latin America. Now, OPEC cuts over the past year were predicated on a weakening demand profile heading into this year. At the time they were announced, recessions were expected across Europe and the U .S. China was an open question with the potential of reopening pushed back in the midst of additional pandemic waves. But since then, the European economy is sputtering along, albeit with dismal manufacturing data out of Germany. The sanctioning of Russian supply has caused European demand to be displaced to other regions with refining capacity, largely India and the Middle East. In the U .S., recession has been continuously pushed off into the future and oil demand is now back at all time highs with no signs of slowing. Although the Chinese economy has hit some turbulence recently, oil demand remains robust. Analysts expect China's oil demand to remain high as Beijing secures strategically important resources. What's more, analysts expect China's oil demand to remain high as Beijing secures strategically important resources in part to mitigate geopolitical risks as well as to shore up its manufacturing and transportation industries. So with oil prices spiking, many are wondering whether the White House will once again intervene in markets using the Strategic Petroleum Reserve. Between November 2021 and September of last year, the White House authorized a number of SPR releases. The final policy saw one million barrels per day provided into the market over six months. A small amount of oil was restocked earlier this year, but the SPR still sits at a little over half its pre -pandemic level. Earlier this week, a headline circulated proclaiming that quote, Biden says depleting SPR is on the table. This was later found to be a hoax with no legitimate source, but it demonstrates how difficult high oil prices could be for the U .S. economy heading into election season. To wit, many saw the SPR release as a political decision rather than an economic decision heading into the 2022 midterms. In the private sector, U .S. oil inventories have recently hit 40 -year lows of 46 -day supply, well below the longer -term average of 65 days. And while August's inflation reports already showed a small uptick due to oil -related prices, the effect is expected to be more profound across this month. Dario Perkins, an economist at T .S. Lombard said, That said, it is important to keep these recent inflationary developments in context. We are not yet in danger of undoing 12 months of solid disinflationary progress, not even close. Others suggested that high oil prices would have a greater impact on growth rather than inflation. Maya Bhandari, head of multi -asset at BNP Paribas Asset Management said, It really impacts the growth side of the Goldilocks equation rather than the inflation side of things over the long term. Theory is that sustained high oil prices begin to eat into disposable income for households alongside higher costs of production for manufacturing and logistics. These combine to reduce growth and potentially tip the economy into recession. Overall, this situation in the oil markets has, to some, many parallels to the liquid natural gas spike in the winter of 2022. Prices in some markets rose more than tenfold, European energy companies scrambled to secure supply at any cost, and multiple firms went bankrupt due to the volatility in markets. This week, Bloomberg reported that the trading arm of French supplier Total Energies has played a major role in bidding up the price of U .S.-based oil. Their source claimed that the firm is paying a premium for physical U .S. barrels, pushing the spread against futures to levels not seen since last November. With all of that said, there are some signs that the oil market is beginning to cool off. On Thursday, Brent crude futures fell to $92 per barrel, which represented the third straight day of price declines, which is the longest streak in almost a month. Warren Patterson, head of Commodity Strategy at ING, said the Fed's hawkish messaging has quote, put some pressure on risk assets, including oil. The dollar index has risen by 0 .8 % since Chair Powell left the podium, a large enough move to weigh on asset markets. Patterson said he still expects Brent crude to move above the $100 mark in the near term, but that he doesn't anticipate the move will be sustainable. So that is the view on oil overall. The thing that I am definitely going to be watching more than anything else is the political dimension of this. We are now entering the period where everything, even more than usual, is going to be completely wrapped up in what it means for the election season. If prices at the pump keep trending up, it seems very likely that the Biden administration will be willing to do what it takes, including SPR releases, to get those prices down. But that's just something we're going to have to keep an eye on. Now what about that other factor that Powell mentioned? Well yes, indeed, my friends, the US government is once again hurtling towards a shutdown after efforts to pass a short term spending bill were scuttled on the House floor on Thursday. House Speaker Kevin McCarthy attempted to marshal Republicans to vote through a package to keep the government funded past the end of September. Closed door negotiations continued late into Wednesday night, but were apparently unconvincing. The bill currently being considered is the $886 billion Defense Appropriations Act. The bill was stifled in the House after five GOP representatives refused to allow debate to begin by voting against a preliminary procedural rule. Democrats also voted against the measure and appeared to taunt Republicans apparently reveling in seeing the GOP's slim majority descend into chaos. Among the Republican dissenters was Marjorie Taylor Greene, who opposed the inclusion of $300 million in funding to the Ukrainian war effort. On Thursday, Politico reported that Pentagon sources have said Ukrainian operations have been exempted from any shutdown, making that part of the dispute rather moot. McCarthy sent House members home on Thursday night to return to Washington on Tuesday. He told reporters after the failed vote, quote, two people flipped, so I got to figure out how to fix that. That wasn't the impression they had given us. Now, this was McCarthy's third attempt at bringing the bill to the House floor. The current proposal on the table is a 31 -day stopgap funding mechanism to forestall a shutdown to begin next weekend. McCarthy remarked on the change in tone in Congress among that extreme element of the Republican Party, stating that, quote, this is a whole new concept of individuals that just want to burn the whole place down. Now, even if a 31 -day stopgap is passed in the House, it seems unlikely to make its way through the Democrat -controlled Senate. The bill includes a 30 percent temporary cut to domestic agencies and immigration law changes, neither of which are likely to get the seal of approval from Dems. Senate Majority Leader Chuck Schumer said instead of decreasing the chance of a shutdown, Speaker McCarthy is actually increasing it by wasting time on extremist proposals that cannot become law in the Senate. House Democrat leader Hakeem Jeffries remarked that the situation was playing out as a, quote, Republican civil war. Now, if it comes to pass, this would be the 11th government shutdown since 1980. The logic is that hard -line positions that don't enjoy support in the Congress can be put directly to the American people by shutting down the government and drawing attention to the impasse. Republican Ralph Norman said last week that, quote, we're going to have a shutdown. We believe in what we're doing. The jury will be the country. Still, the record on government shutdowns doesn't really support that strategy. Not one of the 10 previous shutdowns resulted in the dissenting group extracting concessions. Typically, the American people quickly turn on the party they view as blocking access to government services over a petty squabble. Alex Conant, a Republican strategist, said, This is such a dumb fight because there's no principle that we're standing on here. It's just bad tactics. While the dispute is nominally over excessive government spending, with Republican dissenters pushing for funding to be reduced back to 2022 levels, the underlying problem is, of course, the level of discord within the Republican Party. McCarthy was voted in as House Speaker after a record 15 attempts. The process took four days and frequently descended into a farce. This was only the second time in the post -Civil War era that a House Speaker had failed to be elected on the first attempt. Conant noted the terrible optics of a government shutdown of the Republicans' own making heading into election season, stating that, quote, Biden didn't win because of his political skills and soaring oratory. He won because Republicans blew themselves up with Trump. I'm afraid we're seeing history repeat itself, with the GOP once again helping Biden by shooting themselves in the foot. Of course, never one to shy away from controversy, Trump fanned the flames on Wednesday, posting that, quote, Republicans in Congress can and must defund all aspects of Crooked Joe Biden's weaponized government that refuses to close the border and treats half the country as enemies of the state. He added that, quote, This is also the last chance to defund these political prosecutions against me and other patriots. They failed on the debt limit they must not fail now. Use the power of the person to defend the country. Now, zooming out and trying to get away from the politics of the situation, which obviously is not the focus of this show. The reason that this was brought up at last week's FOMC press conference is that a government shutdown would halt the publication of government data. This would include employment, inflation and growth statistics, which are currently playing a key role in guiding Fed policy. Now, given how much the Fed has said over and over again, their policy is going to be driven by data, presumably not having access to that data would be a fairly big deal. Yet in spite of that, Powell tried to put on a brave face, saying, If there is a government shutdown and it lasts through the next meeting, then it's possible we wouldn't be getting some of the data that we would ordinarily get and we would just have to deal with that. Now, by way of some history, the longest ever government shutdown lasted 35 days. The dispute was around funding for the border wall and quickly turned public sentiment against the Trump administration. Republicans controlled both the House and the Senate, but the administration failed to convince their own party to fund the wall. At the time, Democrat Senator Jon Tester called it the most stupid shutdown I have ever seen in my life. However, if this week's display is anything to go by, that 2019 shutdown could soon have some competition for that title. Now, what does this all have to do with the crypto sphere? Well, I think in many ways these are just exemplary of the state of politics in general. And given that, perhaps it's not surprising that former Senator Pat Toomey is not optimistic about the chances of crypto legislation being passed during this Congress. Just prior to retiring from Congress at the beginning of the year, Toomey introduced his own crypto bill, which focused on stablecoin regulations. Now, the House currently has two major crypto bills eligible to be brought for a vote. One would establish a stablecoin framework while the other introduces more broad crypto regulations. While speaking at a Georgetown Law Seminar on Thursday, however, Toomey said, I don't see a path forward in the Senate regardless of how the vote goes in the House. He added that of the two, he sees the stablecoin legislation as having the best shot. The sticking point will likely be Senate Banking Committee Chairman Sherrod Brown. While Brown has been outspoken about the risks of crypto and the need to bring the industry to heel, he has so far remained extremely quiet on exactly what form of legislation would meet his approval. And of course, any crypto legislation would need the support of Democratic senators to pass a vote to become law. Still, during an interview on Thursday, Coinbase Chief Policy Officer Faryar Shirzad said that she thinks that Brown's lack of commitment to a legislative position might actually be a good thing. Shirzad said, Now, last week, Brown wrote a letter to head regulators at multiple agencies urging them to use their existing powers to crack down on non -compliant crypto firms. This of course seems to be the clear intention, at least at the SEC. On Tuesday, the head of that agency's crypto assets and cyber unit, David Hirsch, warned that more enforcement actions would be coming against crypto intermediaries, including DeFi protocols. Still, Toomey, who serves now as an advisor to Coinbase, views stablecoin legislation as the solvable problem. At the moment, Democrats are pushing for the Fed to serve a central role in regulating issuers rather than granting oversight power to state regulators. This preference is believed to be driven by the White House. Toomey said, He thinks that senior Democrats will get on board once the White House is satisfied with the stablecoin proposal. Although that proposal might have to wait until after the election, as Toomey said in the next Congress, I think it's quite possible to get something done.
Fresh update on "one million" discussed on The Big Take
"Of the soft landing bloomberg wall street week subscribe today on apple spotify and everywhere you get your podcasts bloomberg context changes everything the bloomberg talks podcast today's top interviews from around bloomberg news we are here with mister the president of the cleveland federal reserve bank ralph shawstein joining us right now chairman emeritus of or wide -ranging conversations with fortune five hundred c .e .o.'s investors and business leaders around the world charlie nunn the ceo of lloyd's banking group bloomberg talks subscribe today by and anywhere you get your podcasts bloomberg context changes everything access a vast selection of global fixed income securities at interactive brokers bond marketplace search their deep availability of over one million bonds globally i
A highlight from GARY GENSLER ATTACKS STONER CATS NFTS & RIPPLE XRP WILL FIGHT SEC, HEDERA HBAR STABLECOIN STUDIO!
"Welcome back to the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify, Apple or Google, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, I want to start off with the SEC versus NFTs. Stoner Cats agrees to pay a one million dollar fine to settle SEC charges. The Hollywood superstar backed Stoner Cats NFTs has neither admitted nor denied the SEC's allegation that it issued an unregistered security. So once again, folks, we see regulation by enforcement by scumbag regulator Gary Gensler. They're not putting out the clear rules of the road. And we even have two commissioners that dissented from this enforcement action. So we see even folks within the SEC don't agree. But we know Gary Gensler has been running around with a false narrative saying everything in the crypto industry is a security and that it's breaking securities laws. But of course, he's not providing any guidance. And we saw even members of Congress question him. Tell us what is it, which crypto coins and tokens are securities? Is Ethereum a security? Is XRP is a security? He can't answer. Right. So we are dealing with nonsense. And, you know, the challenging part here is that he takes these settlements here because these companies don't have the capital to fight the government, to fight the SEC. You saw Ripple. It's they spent one hundred million dollars to fight the SEC. So many of these companies don't have that type of capital. So they settle just to get the SEC off their back. But unfortunately, you know, Gary adds this to his wins list. Now, the good thing is that Stoner Cats is not some major brand, you know, well -known. The defeat that the SEC took with Grayscale and Ripple and I think soon Coinbase, those are big names and well -known. So they carry more weight when, you know, Gary takes the loss. So let me give you the details here, guys. The U .S. Securities and Exchange has charged and settled with NFT issuer Stoner Cats, too, for allegedly offering an unregistered security. Without denying or admitting to the SEC's allegations, Stoner Cats, too, has agreed to cease and desist from offering the NFTs and pay a one million dollar fine. Stoner Cats, too, also agreed to destroy all NFTs in its possession and issue a notice of order on its website and social media channels, the SEC said. Now Stoner Cats, if you're wondering who is the Hollywood backers, it was issued by actors Ashton Kutcher and Mila Kunis. They released 10 ,000 NFTs in a highly anticipated drop in July 2021. The drop raised eight million dollars. Now, folks, you see how ridiculous this is, you know? So what does that make any artwork that's put out there on the Web, right? Let's say it's not in NFT format. Let's say it's baseball cards or sports cards. This is just ridiculous. The SEC is completely overreaching here. And don't get me wrong, they have a job to do to monitor these NFT prices and crypto projects because there are bad actors. But clearly they're going after the good actors and they're leaving many bad actors to do their thing. So this really sucks. Now, SEC Commissioners Hester Peirce and Mark Ueda issued a dissenting opinion Wednesday arguing the Howey test cannot be met. So clearly, clearly the SEC is divided here and we know the entire industry and even members of Congress are not on board with this nonsense. But Congress has to act. The onus is on them to get the rules in place because Gary is just going to continue his nonsense and he's trying to get that Treasury job. So he's just trying to rack up wins here to say, see, look at all the enforcement actions I took. Look at all the capital I got. And he won't give the details to say, hey, these guys were just trying to issue NFTs. He'll say, you know, they're scammers, they're hucksters, they're doing all kinds of bad activity. Right. So that's his narrative. So we got to fight, folks. And this is why we use social media to our advantage, contact your representatives and much more. Here's what Mark Ueda had to say. Analyzing investment contracts in this way carries implications for creators of all kinds. We're to apply these securities laws to physical collectibles in the same way we applied them to NFTs. Artist creativity would wither in the shadow of legal ambiguity. Mark summed it up really well there. This is really, really insane what the SEC is doing. And we got to keep fighting, folks. But scumbag regulator Gary Gensler continues. Now, interestingly enough, yesterday, some folks from Ripple were interviewed by CNBC. And here's the headline from CNBC. Ripple says it will fight the SEC lawsuit all the way through. Ripple said it plans to fight the ongoing lawsuit with the U .S. Securities Exchange Commission all the way through its president, Monica Long, told CNBC. Ripple is among the crypto companies such as Binance and Coinbase, which are being sued by the SEC for violating laws. So Ripple is going to continue fighting. You guys know there's going to be even the proper party at the end of the month of September. And I'm looking forward to that in New York City. I will be attending. I know some people are down on it because the prices are down. But look, if you have to understand the market cycles, right, what's playing out, everything's down. Bitcoin is down. Even a large, large part of the markets out there because of the macroeconomic factors of inflation, rate hikes and much more. So I'm glad to see that Ripple is going to continue fighting and I'm sure they're going to push for some sort of settlement. And we know the SEC is trying to appeal, but, you know, Ripple took the bigger slice of the pie from a victory standpoint where XRP token was intrinsically stated as not being a security. And I think the judge got it right there. It goes back to how we test the orange groves and the oranges that we get at our supermarket or orange trees in general are not securities by themselves, but rather it's the packaging. So that's the key. So the tokens themselves, not securities is just how are they being packaged? And don't get me wrong, NFTs could be, and I say could be in certain circumstances, securities, right? If they're packaged in a certain way. But we know if you just simply issue artwork and NFTs on the blockchain, that does not make them intrinsically a security. But Gary Gensler, we know he doesn't. He's trying to muddy the waters and cause confusion and just saying everything that's issued is a security. We know it's nonsense. Now, moving ahead, Flare, many of you hold the Flare tokens. If you're an XRP holder who participated in the Flare snapshot, you got a distribution of your Flare tokens. You continue to get that. I personally am doing that and I delegate my Flare tokens and I'm earning rewards. I'm doing the same thing for Songbird. You can of course invest in the Flare token if you want. Well, Flare is going to be moving to a staking model and they provided an update here saying we will soon enter phase two of three in Flare's transition to a staking model, opening new opportunities to delegate stake to validators and earn rewards. The date when staking can commence will be announced in the coming weeks. So if you're a Flare token holder, this is great news and I'm looking forward to this. If I can stake and earn more rewards, that'll be great. And you know, I'm not selling any of the earnings I get from delegation because we're in a bear market. I am just delegating, earning more tokens, and then when the bull market comes, I will be looking to take profits as the prices rise. Now speaking of prices rising and selling, a great platform to do so is on Uphold, which is a great platform. I've been using them since 2018. They're one of my go -to exchanges. They have 10 plus million users, 250 plus cryptocurrencies, and they're available in 150 countries. You can also trade precious metals and equities and 37 national currencies. So that's different Fiat currencies, and you can swap easily between precious metals, cryptocurrencies, and these different 37 national currencies. So if you'd like to learn more about Uphold, please visit the link in the description. All right, folks, we got some very big Hedera HBAR news. So recently I interviewed Leemon Beard, who's one of the co -founders of Hedera. They're doing great things. I think this is going to be one of the blockchain projects that can really come out of this speculative crypto bubble and be one of the winners, right? If you look at the speculative bubble of the dot -com boom, you had your Googles, your Ebays, your Amazons, and a few others that came out that did really well. I think Hedera is one of them. And part of their governing council includes Google, Dell, IBM, Boeing, some of the biggest names. And just recently, Hyundai and Kia started building on the Hedera network. So huge news. So they tweeted out, we're excited to announce the Hedera stablecoin studio, the all -in -one stablecoin configuration issuance and management toolkit tailored for Web3 platforms, institutional issuers, enterprises, and payment providers alike. By leveraging Hedera, the network, and in collaboration with our partners, the stablecoin studio delivers a highly performant, seamless, and end -to -end stablecoin solution with proof of reserve, dedicated custodians, and network native KYC slash AML flagging. So this is pretty big. They said with Hedera, predictable fees, high programmability, and robust network of ecosystem partners, stablecoin issuance and management have never been simpler. Everything you need to build and configure stablecoins with ease. So this is a really great feature. Obviously, stablecoins are going to be a big part of the token economy and the ability to have your blockchain utilized for tokenization, whether it be CBDCs, stablecoins, NFTs, tokenization of real -world assets, and much more is going to be key to adoption because that's the future. So Hedera is ahead of the curve in many ways. And if you haven't seen my interview with Lehman Abir, be sure to check it out because we talk about the Hyundai -Kia situation. We talk about Xinhan Bank with their stablecoin on the Hedera blockchain being used to improve cross -border payments. So it's really, really big things happening here. I'm very bullish on HBAR. Now moving ahead, Coinbase, to integrate the Bitcoin Lightning Network in a bid to drive adoption, Coinbase CEO labeled Bitcoin the most important asset Tuesday following an announcement his company would integrate Lightning. Now Coinbase is a little bit late to the game here. There have been other exchanges like OKEx that integrated the Lightning Network. But more and more, I think, platforms are going to leverage the Lightning Network to help boost Bitcoin's ability to scale. Look, I don't think the Lightning Network is even there yet. We know the folks at Lightspark are trying to do something, Jack Mahler's strike, but it's not there. Look, Bitcoin is a great store of value, great hard money, great digital goal. I view it from that standpoint. And that's why I hold it in my portfolio. It has made me money. But for payments, not great. Not great at all. Now there could be great improvements to the Lightning Network where it gets global adoption and people start using it. But we are far from that. And we'll have to see what guys like Jack Dorsey's Cash App, David Marcus's Lightspark, Jack Mahler's strike, and these guys do because they've done it in small increments and small markets. But there's no major global adoption here where people are like, I'm going to go spend some sats. Don't get me wrong, it may be happening in, once again, small scenarios in El Salvador. But what about the rest of the world? People are opting more for stablecoins. So this is something that the folks who are building the Lightning Network have to figure out how to scale this thing and make it easy for people to onboard. So Coinbase looking to make a push here and get more adoption around Bitcoin, and it certainly makes sense. Bitcoin is definitely the brand that's well known. A lot of people come into the market via the Bitcoin asset, and then they usually go to altcoins after that. Now speaking of altcoins, Vitalik Buterin was speaking at Permissionless, the crypto conference in Austin. It's actually held by Blockworks. And he talked a bit about what's in the future for Ethereum. Now, some people listening to this may be very upset at Vitalik, Joe Lubin, Bill Hinman and so forth. And that's fine. You know, I understand I'm not the biggest fans of these folks as well. I do respect Vitalik as a coder and what he has built. I think folks can't ignore that. He did build a great platform. First mover advantage, the EVM is used by many other different blockchains. And there's been a lot of building on Ethereum. You can't deny that regardless if you hate it or you don't hold it. The facts are there from DeFi to NFTs and much more. And a lot of smart contract tech is being used and built around Ethereum. And he made some interesting statements as to what Ethereum is going to target next. So he said DeFi is cool. NFTs are a new primitive, but an extension of something that has a history and using crypto for payments is good, but also familiar. These are individual pieces that are designed to fit it into an ecosystem that's otherwise the same as before, Buterin said. He said what he's excited about is decentralized social, repeatedly name dropping Faircaster, a Twitter like protocol on the OP mainnet with a companion warp cast mobile app that is currently invite only alpha release. Along with Lens developed by Aave founder Stani Kulichov and running on Polygon's proof of stake chain, Faircaster and similar social experiences are using crypto tools to complete with centralized platforms. Let's see how far we can push things in that direction, Buterin said. But where I see the longer term feature here is it really can plug into all the other stuff that we've been doing as a space. So it sounds like he's trying to build like some sort of decentralized social platform that will include the tokenization, the entities, the DeFi and so forth. That makes sense. And as we head into Web3, just as people transition from Web1 to Web2 and even earlier versions of Web2 social platforms like Myspace and Friendster to eventually Facebook, Twitter and so on, we're going to see a transition from the Web2 social platforms into Web3 social platforms, especially as they become more easy to onboard and use. And there's a layer of rewards of tokens. And if people can legitimately earn tokens and get paid for their activity and it's on the block chain, it's verifiable, it's hard to hack and things like that. They will come folks. They will come. People will come, especially as data breaches continue with social platforms mainstream and other platforms as well. So interesting statements here from Vitalik. And I think we want to watch this closely because look, like I said, Ethereum has the adoption, has a lot of developers, has a lot of capital behind a lot of resources. So if there's any token that comes with these social platforms, I'm going to be looking into that and be looking into these platforms and seeing how I can capitalize on it to make a nice return. Well, folks, that's the news. Let me know what you think. Leave your thoughts and comments below. Hit the thumbs up button. Hit the five star rating on the podcast platforms. Don't forget to check out the merchandise store. Link will be in the description where you can buy the podcast branded gear as well as fire Gary Gensler T -shirts and hats and much more. Thank you for your support. And I'll talk to you all later. Bye bye.
Fresh update on "one million" discussed on Odd Lots
"Yeah, there's a great George Soros quote quote where he says, whenever I see a bubble, I rush in to buy it. And it seems so counterintuitive. Like, why would you want to buy a bubble? I think his, I don't want to put words in his mouth, but I think his thinking is he understands that a bubble is very likely to grow bigger than you think just because everyone else is going to watch their neighbor get rich and they're going to which come in, is exactly what happens every single bubble. So I think that like the chasing of momentum, yeah, it has a huge behavioral component behind it. Now, the hard thing is like getting out before everyone else, someone like George Soros can do, but virtually no one else can. So it's like that has no appeal to me whatsoever because the idea that you're going to get out before everyone else when you're chasing their behavior to begin with is wrong thinking. Coming up next, it is more with best selling personal finance author Morgan Housel. Hear how he thinks higher interest rates are going to affect the way people invest. You're listening to Odd Lots on Bloomberg Radio. I'm Tracey Alloway. And I'm Joe Weisenthal and this is Bloomberg. Access a vast selection of global fixed income securities at The Brokers Bond Marketplace. Search their deep availability of over one million bonds globally. IBKR has no markups or built in spreads and low fully transparent commissions on bonds. IBKR displays the highest bids and lowest offers received from the electronic venues they access. In addition, clients can interact with each other placing by bids and offers online to execute their trades. Learn more at ibkr today. Ophthalmology residents use fundamental VR and Orbis International's virtual training tool to practice surgeries. Dr. Renee Badrow says with
A highlight from TBGP #408 Starfield Sales, Baldurs Gate 3 console, Mortal Kombat 1 JCVD, Alan Wake 2, Switch 2
"What's up, everybody? This is Carrick with ACG and I'm here with Citizen Sleeve. Longtime member. Very long time member. Five years, six years ago. Yeah. Oh, geez. Remember, Silver fell ill. Johnny fell ill and Abzi is on a work trip. So it's just him and I keeping the fires burning. Reg is making those games and Reg is making games. Yeah, it's like it's so weird, too, because sometimes we'll get six or seven who want to come on and I pare it down. And then this morning I woke up and I was like, I think pinging people and they're like, Johnny's sick. Silver's out. I'm like, oh, because Abzi told me he was out a couple days ago. Like, what am I going to do? I was going to do it by myself, but I wanted to get sleeve on here if he was able to, because he comes on occasionally. We talk about games and movies and he's a big Mortal Kombat fan. And now we know that Mortal Kombat is going to have Jean -Claude Van Damme. We're going to talk about that full circle. So I'm actually excited about that because it is full circle. Like, it's legitimately going all the way back around to the first time. The old style games from them, man. Finding that first one in the arcade was so crazy. Oh, dude. Every time I've seen like Source Street Fighter two for the first time, I remember seeing MK for the first time and then Killer Instinct for the first time. And that loud ass cabinet you could hear across the room that all of them fucking. Yeah. Oh yeah. You know, I always forget the sound of an arcade. The sound of an arcade is crazy. When you go in and you like all of the games merging together, it's just like show you. You almost need to acclimatize now when you go in. Like I've been in a few because we've got a town near us, which has got a ton of arcade. So I go in. Yeah. It's like John change. Oh my God. Overwhelming. And then you kind of click into it. You're like, oh, I remember we would be at the fair and we would just you would track down. You would be able to track down the arcade pure by sound. You know, there'd be like at our fair, there were like animal exhibits. There was zoo exhibits. There was all kinds of crazy stuff. People paint in your face. You know, you can get pictures, you could get all this and you would just hear very far away. Okay. It is 20 meters that way. Yeah. You'd hear somebody or whatever he says when he's doing somebody's doing a kick. And I was like, OK, we know we know where the arcade is. And then you would go. And I still remember the first time it went from 25 cents to 50 cents. And I was like, oh, no, half the games because we would spend almost all of our money. Like, we would just go there, nothing to eat, dry, desiccated husks of gamers to wet in in there, just playing. Love that shit, scribbled away, hunched over. Yep. If you guys get a chance, tweet out that we're doing this. Hopefully the alert went out, but it looks like it went out with the wrong thumbnail. But that's life. I don't even think I put the numbers on the thumbnail. So a lot of people won't know that. But I appreciate you guys spreading the word of this word. A million. We're almost at one million one hundred thousand subscribers. So thank you to all of the new subscribers as well. I know a lot of people don't check out the podcast as much as the reviews, but if you do, thank you for showing up. Definitely appreciate it. Let's just break into Starfield real quick. So Starfield, it released a couple of days ago, then, you know, released early access, then it released final to people to actually play, which is what you're doing now. And they said over five million or six million people were playing it. You know, you don't know the sales. I think six and one million concurrence is what feels tweeted out. Yeah, there was one million concurrent and that was early access. Yeah, dude, like, regardless if you like it or hate it, it's obvious. I mean, even if you just look at that, it's a success of some kind, especially with it being exclusive to them. Yeah, it was pretty interesting to see something that I noticed this morning, too. So I've continued to play it after beating it twice, the third time, actually. But for the review and I saw a lot of people sort of changing their ideas on the reviews, which was weird. There was a lot of even the people who were high, low, what have you. There was a lot of people were like, oh, I've continued to play it now. I like it more or whatever. I'm like, I should do a review then. I don't quite get it. I saw a couple of people say, no, now it's my game of the year. And I'm like, what now? I don't know if it's my game of the year. I'm not. I don't want to get in that conversation. That's a dumb conversation to have right now, but it was an odd process. What do you think about the first couple hours, though? You yourself. Okay, so I got it for early access. I paid the extra. I was off for a few days. I was not aware of that. I apologize. Okay. Yeah, yeah, yeah. Early access. But I haven't played a ton because you know me and I did what I always do. I made a character played three hours. I didn't like that character because I didn't like the traits I've chosen. So I started again. I started again. I did see that. I'm okay now. So I mean, about eight hours in, so not loads, but the opening is tedious as all fuck. Yeah, I think luckily short. Yeah. I mean, it's only I mean, I've rushed through it without paying attention. It was only 90 minutes until I was making a character. There you go. That's not it's not long or anything, but it's just like Bethesda have always struggled to have an open into a game that creates the sense of kind of open world that you're about to enter into. I think Fallout does it best because you have that moment when the door opens normally. Yeah. But like growing up as a baby in Fallout three and having a birthday party. I know the idea is to establish the world and you're this kid growing up in a vault, blah, blah, blah. I don't need an hour of it. Yeah, I don't need it. And then I like Oblivion, the dungeon even Patrick Stewart's King for the first time. That's really tedious. And all I ever did in the end with those games was I would get through that as quickly as possible, make a save just before I created the character and never, ever do it again ever. Yeah, right. But this one, I think, is the worst it's been for a long time. There's no moment of do you get in the ship and you fly off? And even that's a bit trite in terms of like, here's a chance for folks to get some resources. You're not going to use for however long following. Yeah, it's it's definitely slow. Thanks for all the chats and super chats, folks. It helps the channel. I'll read them in a bit. I would say that when you look at this game, it definitely is like I can get through it, but it doesn't have it doesn't solidify me in the world, even though those others I didn't like as much. They did. And they were like, so you do it once or solidify to understand. I didn't feel that way with this. And even though I've done and plus now three times, I still don't I'm still like I even come up with a couple ideas on my own. I'm like, I could have I'm not saying I could have done it better, but I would have loved to have seen some of the other ideas that these guys had had for a starting.
Fresh update on "one million" discussed on Mark Levin
"Whole lot more. So he's at the Congressional Hispanic Conference which he just says the Congressional Black Caucus, but here he is nonetheless cut eight go first. We put in place policies that process people in a fair and fast way. Second, why are you processing people at all? If they haven't come through the front door, the ports of entry and so why are we processing people, alone in let a fast way? See, this is the real nub of the matter. There's no such thing as illegal immigration anymore. Let me be the first to say this. There's no such thing as illegal immigration anymore. There are no such things anymore as illegal aliens. Or immigrants without documents. None of it is illegal anymore. None of it. As a matter of fact, we want to hand out identification cards. That's the federal government. We want to hand out work papers so people can get jobs even though they're here illegally. We want to hand out benefits. Like food stamps, public education, access to emergency rooms medical care. Oh yeah! And in some localities and states, as I point out in The Democrat Party Hates America, illegal aliens have the right to vote. Now what could go wrong with that? Just keep in mind where this party's headed. Everything they're doing, they plant the seed and then they grow a redwood. They grow a redwood tree. It's a few towns and states now where illegal aliens get to vote, then it'll be the whole country. Especially when those great DHS cards with the pictures and the special computer graphics on it and all the... Oh yeah! I mean, they're here anyway. Don't we want them to pay taxes? Come on! Go ahead. They're expanding legal pathways for entry so businesses can get the workers they need. That's the issue. I've been undercounting this. I've been reading our estimates and that's all we have because our government doesn't really keep track of all this. Ladies and gentlemen, there's been six to seven million illegal aliens that have crossed our border. Where are they? We only see a small percentage of them. Who are they? We don't have the foggiest idea. Did you see that video on Fox? People are coming across the border. They're cutting through wire, the much of the wire put there by the great governor of Texas. They come out from under the razor wire and so forth and they're ready to get arrested and they're being took. Go ahead, leave. You mean I can leave? You're free to leave. Where should I go? Wherever you want. See that video? It's sickening. Sickening. No country on none unless you're a country that's suicidal. Unless you're a country that wants to destroy your country, which exactly is what the Democrat Party says. It's destroying our country. Go ahead. To be together. I'm also directing my team to make historic of refugees increase in admitted the number from Latin America. What are you talking about? You want a historic increase in the number of refugees admitted from refugees from where? What country in Latin America? These same bastards, is that the Bidens and the rest of them, they're always reaching out to Castro and to Nicaragua, Noriega and all the rest. The dictators and communists. On the other hand, the people are fleeing there so fast, particularly Venezuela, that we're making accommodations for these people. We want pathways for entry in this country as fast as we can. They hate the American citizen. They hate Republicans. Omega. Ah, like the Third Reich, there's MAGA right over there! 70 Americans. MAGA! But if you've never done a damn thing for this country, if you've never contributed a damn thing to this country, and you want to come into this country illegally, you're praised. You're a saint. You want to do jobs Americans don't want to do. Fantastic. Isn't it sick? Thanks for watching! Go ahead. People fleeing violence and persecution We simply want the kids to have a better life. Well then I have a better idea than all this. Why do we go through the motions? I suggested this idea a couple of years back, Mr. Producer will remember. Why do we wait for people to come to the border, Mr. Producer? Why don't we just send them all citizenship cards? Why don't we just announce tomorrow that every citizen of another country is also a citizen the of United States? You have children? You want a better life? Then we're all Americans. Which means none of us are Americans. listen But to what he's saying. Isn't that the logical extension? Why do we wait? Why do these people have to struggle? Go through swamps. Go through forests. Deal with snakes. Deal with diseases. Why bother? We can actually break the Of the drug cartels. Just tell everybody all over the world. All all 8 billion people all over the world. America's open. Do you have children? Yes. You want a better life them? for Yes. You want to escape the hellhole that you live in? And by the way, you can't call it a hellhole. Oh, that's racist. Okay. You want to escape the hellhole you're in? Just come. Here, here. We're sending you your papers right now. And by the way, vote Democrat. Vote! Let's just get to it. Let's get it over with. Go ahead. This week, my team will consult with Congress. Ah, team. You can barely keep those teeth in your mouth. I hear it. He's talking. You know, he's afraid the dentures are coming out. The hair plugs are coming out. The dentures coming out. He's got two brain cells rubbed together. This is our president. Corrupt as hell. Dumb as hell. But by the way, he was always dumb as hell. His problem isn't old age. His problem is he has no mind. Never did. What else are they going to do, Mr. Producer? Go ahead. Third, we're supporting states and cities that have seen a surge in immigrants. We've developed federal experts and employed them to help train city workers. We've developed federal experts experts to train city workers on how to deal with tens of thousands, hundreds of thousands of illegal aliens. And what have you gotten to do? You're the problem, Biden, and you're experts. You're the one who's done this. You're the one who needs training. And you can use a bib, too, by the way. Go to outreach campaigns, helping over a million eligible migrants apply for work permits. And we're accelerating the process They're going to give a million the ability to apply for work permits. And they're going to accelerate that process. They're going to speed it along. This is Mr. union guy. This is Mr. bottom -up, middle -out guy. This is Mr. I represent the little guy. One million accelerated processing work permits. One million on top of everything else. And so, you know, I'm living in one of these hell holes out there, because we all know all cultures are the same. There's some hell hole out there that people want to escape. But don't worry, their culture is just as good as ours. And they want to escape to our culture. They want to escape to America. Or maybe they just want to come here because they like the idea of coming to this country. I mean, after all, look at all the freebies. And Joe Biden says, I know how to control this hell. I'm giving them work permits. I'm basically giving a million people amnesty. Amnesty! That's what it is. It's backdoor amnesty. Congress has had no role in this. Five of these boneheads are too busy undermining what are good plans. The Republicans are sitting on their ass. They haven't lifted a finger to do anything. And this guy keeps waving magic wands. Like he's mazzolini. Get the trains around on time, you know. Work permits. So there I am running my own business. I'm in Central and South America. I'm in Africa. In the Middle East. I'm in Germany. I'm in Asia. The Far East. Or I'm in Europe. Wherever I am. Maybe I'm an Eskimo. We're not allowed to call them I don't even know anymore.
A highlight from 1237. Crypto Market Crash | Altcoin Update
"All right, so let's break into some altcoins today, take a look at a deep dive on several projects out there. Maybe this is the bleed off that we've been looking for. Is this an entry point? We'll break all that down for you guys today. If you're thinking about altcoins, you don't want to miss this one. My name is Paul Baron. Welcome back into Tech Path. Before we get started, I want to thank our sponsor, and that is iTrust Capital. If you're doing a long -term holding, one of the places you can go into crypto long -term holding, whether you're doing altcoins, Bitcoin, Ethereum, is over at iTrust Capital. Very easy to join. All you have to do is click our link down below. It's going to give you access. And if you do decide to get started over there, you're going to get a $100 funding reward. So make sure and check that out. All right, let's get into a couple of things here today. Part of this will be a lineup of altcoins, many of which are really struggling right now, mostly because of Bitcoin now in the $25 .5 range right now. Let's take a look at the chart and just see where Bitcoin is currently trading as we film this. Dipping into the $25 .6 range right now with a wick. So we've got a little bit of a movement down. This is on the 4 -hour right now. Sentiment, if you've been tracking our CPI, then you probably saw this coming for quite some time, even all the way back to the 29th when we had down sentiment on that little spike that was starting to show up. So it has been at least giving a little bit of an indicator that the markets have seen a downward sentiment. With analysts pointing at that this may be a really rough September, are there going to be some opportunities here? So we're going to break in to a lot of those to take a look. I'm going to go to this first tweet right here. This, of course, is Coinbase Wallet. All about that base launched in August. Monthly recap on Coinbase Wallet for all your needs on BuildOnBase. Lots happening, basically. This is all over now. Absolute, I think, huge success for what Coinbase has done with base as a blockchain. And it has really showed out in terms of the amount of projects that have been flowing within it. When you look at some of the on -chain analysis here, daily active users, they're on base. You can just kind of see the explosion that has occurred during August. And this isn't really the end of it. We will most likely see a strategic rollout with base and Coinbase's efforts to continue to help foster this industry, which I think is a grand master plan with what they're trying to do over there. Further into this, here's, of course, the current data on the total value locked right now. Almost half a billion dollars. So when you look at the growth right here of base, very, very significant overall. Now, some of the most recent spike right here is a little bit because of what Airdome is happening here. So this, of course, is another DEX. The interesting thing is there's a lot of projects that are starting to go in this direction. I don't think base is going to slow down at all. All right. So one of the other things that you can take a look at here is, of course, the total base users now cracking over one million total users. Very significant. But again, a lot of opportunity here for a massive growth. But remember, this is just the first month, and we've already started to see base as a significant player in the market. So think about that, all EVM and Ethereum -based lineup. If you look at Coinbase, the stock, currently on the, let's go over here to the daily and squeeze in a little bit because it is slipping right now, Coinbase is around 77 after it kind of got that little bit of rise right there. This has been mostly because of some of the legislative wins that we've seen in the marketplace this week. Only bad news this week was the fact that we've got the ETFs that push back, which of course is what we've seen with the overall crypto markets pushing down. But Coinbase seemed to have stabilized slightly, even though I do still anticipate that this is still going to take a little bit more time to get their lawsuit out of the way. Obviously, that'll be a factor. The other thing that will come into possibly indicating some movement for Coinbase stock as well as the markets is going to be a potential stablecoin regulation. We'll talk about that as well as we go along here. Another point I want to hit on right here is huge win, long live DeFi. This of course, founder over at Uniswap. One of the things that is interesting, a longtime fear of mine has been a bad legal interpretation of our complex technical industry. This of course has now all changed with the U .S. courts holding up the arguments that they, along with many other industry proponents, have felt that this has been kind of a selected scenario of what decentralized finance is all about. And it held up in a court of law, one step removed from the Supreme Court. So that is a pretty significant adjustment. If you look at Uniswap in general, it of course responded in kind in terms of overall Uniswap daily transactions, which is good. Uniswap the token, not performing quite as well. But at least the point is, is that we've got the framework of what's happening in crypto moving in the right direction, especially when you think about DeFi in general. Let's take a look at the current token right now, Uniswap down. This is on the daily. So sliding fairly consistently over the last few weeks as Uniswap continues. Now the question is, is this one of those that you would look at maybe a long term opportunity on? I don't know. It's not one I hold and it's not one that we keep it in the CPI and we measure it constantly. It does have a current downtrend on sentiment, but it is one that we're always watching. So definitely happening and taking a look at it. Love to get your feedback on some of the tokens that you are holding and that you're looking at possibly entries on. Make sure to comment down below. Always love to get that. Robinhood, of course, is now buying back their stock from San Bank Refreed. This is going to all happen during a litigation approval by the U .S. courts that is handling the bankruptcy and also the scenario that's playing out with FTX. So the good thing is, good news is Robinhood and their FTX days are behind them. So that's, I think, a good win for Robinhood in general. Robinhood also on the heels of the Uniswap win is now bringing DeFi users in and they're adding 200 plus Ethereum and Polygon tokens. So that in itself is another big win for Robinhood. Now, remember, Robinhood is one of the most active crypto exchanges, mainly because of Doge. But the opportunity here, I think, will start to really fly into more DeFi opportunities for Robinhood. Remember, they just launched their DeFi wallet. There's a lot happening there within it. If Robinhood would ever get past that $5 ,000 daily transfer fee or transfer limit on things like Bitcoin and other major assets, I think they would probably do much better. But right now, that's kind of the scenario that plays out on it. If you take a look at hood, the stock, we'll take a look. It is moving and responding slightly here. Not doing too bad. Holding at $11 right now. Up pretty much on the month right now, all the way back, if you look all the way back into February, that's about where we were back then after that little bit of a climb. The good thing is the trend line is definitely on a slight up range for the year. So interesting, one, is if you're hedging the crypto markets, some of the stocks that we watch, of course, is Coinbase, MicroStrategies, Robinhood, and a handful of others when you look at some of the mining stocks out there. But overall, interesting play for Robinhood. Again, Robinhood, I think, is going to get very active. Once that these markets start to loosen up, Robinhood will most likely be one of the key players. All right, of course, if you didn't catch our Chainlink video, make sure and check that out. A couple of things within the Chainlink scenario is the fact that these experiments that have been conducted on SWIFT were all done on Ethereum and successful, additionally Avalanche. So interesting aspect to that. If you look at Avalanche currently right now, definitely not coming out. It's definitely at one of its lower points right now, under $10.
Fresh update on "one million" discussed on WTOP 24 Hour News
"To a network of over one million providers we've got your back and theirs with care learn more at is dot com w t o p six twenty three they've done it again surges at the university of maryland medical school has successfully transplanted a genetically modified pig's heart into a dying man doctors say fifty eight -year -old lawrence
A highlight from THE HASH: Pepecoin Team Puts Blame on 'Bad Actors'; PayPal's Stablecoin Adoption Outlook
"This is the hash podcast. Stay informed with the latest on Bitcoin, ETH, the metaverse, web3 and more. All on the hash for your ears. You're listening to the Coindesk podcast network. Hey there and welcome to the hash here on Coindesk TV. I'm Zach Seward. That's Jen Sanasi. Wendy Oh. Will Foxley. We're the hash today. We're getting you up to speed on what's going on in the world of crypto and more. And we're going to start off with some PayPal news from Jen. Jen, take it away. All right. PayPal's new stablecoin is off to a slow start. That's according to data from Nansen. The data firm says that few people are using or holding PYUSD token in self -custody wallets. They also said that smart money holders seem to be avoiding the stablecoin so far, saying that Paxis is custody in more than 90 % of supply and exchanges like Kraken and Crypto .com hold just over 7 % of supply. Will, I'm going to pass this one down to you. Are you surprised? There was a big excitement in the industry when this news was announced, but are you surprised to see that maybe not a lot of people are holding onto these stablecoins just yet? I'm not super surprised. I mean, it just launched. So I think we just need to be patient a little bit here. We're also like in the depths of crypto winter. This isn't like a bear market anymore. This is just a total lack of interest apathy all over. So for people not to be picking things up right now, that's not surprising. I hope PayPal looks at these numbers, whoever the product manager for this product looks at it as like, okay, the time will come for this at some point. And they probably baked out into the strategy as well, right? They have a lot of resources to be able to look at the market and look at the past launches these coins. And sometimes they take forever to get adoption. I would suppose that they actually are working with larger companies and doing a B2B model as opposed to a retail model first. And that'll also help them out on the regulatory side, right? Where they're not just like issuing this token out to anyone who has Venmo, who has PayPal and desktop, they're probably going to go work with institutions and larger companies work first to see if this actually works for them. So that's not super surprising to me. Just how the market is right now, Wendy? I am not surprised at all by this. Guys, we're in a bear market. So this makes sense that there's not going to be a whole lot of usage with crypto, especially when we're talking about like Web2 brands. PayPal is a massive Web2 brand that facilitates money to people all over the world. I used to use it for eBay all the time. So I don't understand why people would just jump on the stable coin bandwagon from PayPal when it's just a lot easier to use cash and to use electronic currency in that fashion. So to me, it's no big deal. And yeah. PiUSD I think is very much retail play, right? And we've seen over crypto history that retail excitement happens and then retail excitement goes away, right? The DeFi degens aren't going to be aping into PiUSD to do cool things on chain, right? So I think what we'll see is a slow, steady uptick, possibly, until sort of that next euphoria kicks in. And then I'd be interested to see what happens then, right, when stable coins become a bigger part of the picture at the retail level, at the PayPal customer level, as opposed to those who are familiar and conversant already with things like Tether or things like USDC. So yeah, holding judgment on this one, because I don't think it's necessarily going to be super duper on chain bonanza with PiUSD for the foreseeable future, just given those broader market conditions. But it could be a really interesting sort of retail indicator, or I guess retail index for stable coin usage going forward into that next wave of excitement. And that I think will be the revealing data is still to come, our adventure about what PiUSD means for the market, as it relates to onboarding folks from, again, these highly custodial options into more crazy on chain stuff. That I think could be a really interesting set of data that we'll certainly look at in the future. But Jen, saw your hand. Yeah, no, I agree with all of you. I think it is just a low time in the crypto markets. There's a report on CoinDesk this morning saying that Ethereum has hit its eight month low when it comes to daily transaction fees. So I think this isn't just a stable coin conversation. I think PayPal is going after a very different audience and some of the other stable coins that are out there are going after and it's slow and steady wins the race here. I don't think that they were expecting to see massive, massive mainstream adoption right away, just given what's happening, not only in the markets, but on the regulation side of things, too. And so I can imagine that they're treating this as like a pilot or testing phase. And I expect, and again, this is backed on no insider information, haven't spoken to anyone from PayPal. But I probably expect them to come out with some kind of educational strategy to get that mainstream audience once there is more interest, once we hit the next bull cycle and there's some collaborations and partnerships in the works. So yes, I am also not surprised by this report and I hope that it doesn't shake PayPal, because there's probably a longer strategy here. You guys ready to move to Prime Trust? Let's do it. This is like worse news, but it's still stable coin land news. So Thursday, we got new core filings from CEO Jor La, who spoke about the poor investment in the Terra Luna stable coin. Prime Trust lost $6 million of client funds and $2 million from its own treasury. This, of course, comes after they lost about $80 million total in both fiat and crypto of client money when they had their wallet set up incorrectly. Right now, Prime Trust is going through a receivership process with the state of Nevada. Prime Trust was one of the largest backends for a lot of crypto marketplaces. People use them to build wallet services for exchanges, for receivership and ownership of crypto assets. Now it's starting to fall apart a little bit. This also comes after BitGo tried to purchase Prime Trust, but that fell through again because of a lack of financial security within the firm. Jen, I'm going to throw this story over to you. More bad news at Prime Trust, like there's the legal filings for this one are put up with the best of the best in terms of like bad judgment decision making from companies. What a mess. Now, I have to say, when I read, you know, poor planning, like companies in the bull market had poor planning, they couldn't see what was going to happen in the bear. I am a little bit sympathetic because, you know, there's a lot of demand in the bull market. There's a lot of like mainstream collaborations and partnerships and you need resources to keep up with that. That said, I don't think that happened here. I think that this is just a total mess when I read through this. There's some stuff I want to point to. They said that they were outspending and gave some numbers. So October, the company spent ten point five million dollars but only made three point one million dollars. So they lost seven million dollars in October. And then it's like no one learned anything. They went on to November and spent eleven point one million dollars and lost eight some odd million dollars. And so that is crazy. I feel like that is poor planning. That is not looking at what's happening at your company and readjusting and being flexible. And those are some of the allegations that are made against the executive team here that they were not able to adjust and be flexible. The other crazy thing here is this wallet situation. They lost access to their wallet because I'm just going to tell our audience what happened here super quickly. And I'm going to pass it to Zach because he is nodding along with a big smirk on his face. So Prime Trust moved its wallets over to a system operated by Fireblocks. Then they did not realize that the migration from the legacy wallets to the new system was incomplete and that customers were still sending funds to that wallet. And then it learned the mistakes later when an unidentified customer requested a large amount of ETH and withdrawal and they could not fulfill that. And then it seems like they were converting fiat into ETH to fulfill these requests, which just sounds crazy. But I'm honestly not shocked or surprised, given all the news we've been covering over the last six months to a year. Ah, the case of 98F, that wallet episode. It just reads like, Prime Trust, no good, very bad, horrible day. That whole saga. We knew a little bit, I think, back in June about this mishap that occurred when they were transitioning their system over to Fireblocks, which is another custody provider. And that one just reads like a saga of pain. So yeah, check out the court filing for a full telling of the 98F episode and then think to yourself that, yes, custody and digital assets can be hard even for those professionally entrusted to do so. So I think the custody conversation is very relevant here. I will point out that the Terra Luna collapse continues to be the gift that keeps on giving. So much of the pain in the market really stems from people getting overextended into that ecosystem on the strength or the apparent strength of the promises by Dilkwan and others. And that ended up being sort of a landmine that many a project, including now Prime Trust, stepped on in terms of losing funds and losing the ability to stay solvent. So yeah, Terra definitely part of this story. But I think probably the bigger picture is that custody story, right? We keep going back to this idea of like custody is a set of trade -offs, self -custody has its own trade -offs, having a custodial arrangement with an outside party has another set of trade -offs entirely. But this one to me just represents, again, the difficulty that many people, especially entering the space, face when thinking about this challenges of self -custody because these guys got burned really bad by not being able to access something that was a big part of their business. And they only realized later on that, oops, we don't have the steel engraved things that we need to access this and it just becomes a big, big problem. So the custody angle maybe is the most illustrative here for people themselves, but certainly, yeah, pretty painful telling of that whole episode. But yeah, businesses, man, they remain fascinating to cover because you get these sort of after the fact tellings of all the things that went wrong. Wendy, what do you think? What happens if we ever have a Bitcoin -backed ETF that's from TradFi and they actually have to hold the Bitcoin and somebody loses the keys and that happens? Oh man, that'll be a day. Oh boy. Let's hope that doesn't happen. That's my take. That is a hot take, Will. What happens if... But no, I'm being serious. What happens if the SEC would have stepped in initially and said, hey, if you're going to be custody in these products, if you're going to be acting as a broker or whatever it is, you actually have to have the reserve set to a certain area. Like we have to be able to check to make sure that those reserves are set more transparent. If the SEC would have actually done their job, I feel like we wouldn't have had as many of these problems. Like Japan is a perfect example with the whole Gox situation that any type of crypto exchange or whatever type of services operating there, they have to actually show those proof of reserves. So again, I feel like our public servants have yet let us down again. And it's very sad that they're kind of like the parents that just kind of let you run off into the wild and then get hurt. And then they come down and they just punish you like a million times harder.
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A highlight from Starfield Article Bias, Crazy Back and forth in gaming - Bonus Episode #7
"What's this a podcast on? What are we looking at monday? Yes indeed. We're going to talk about a bunch of stuff. I want to talk about the back and forth for the starfield discussion as well as a lot of other discussion that's going about around these games and around 2023 in particular and sort of the fundamental problems we're seeing with some of the coverage, some of the back and forth and why we're starting to see, I would say confusing messages on a lot of games and I want to dive into that and discuss it. So a little bit of behind the scenes baseball for the industry as well as just some excitement about games coming in 2023. Thanks for being a subscriber. We're over one million on youtube and podcast is always doing well. If you don't get a chance to watch it live, it'll always be on Spotify and itunes. First, let's talk about confusing coverage coverage that is definitely in 2023 is becoming sort of a heel turn. I would say to take a wrestling turn from a lot of video game fans. They're starting to see what they consider to be especially websites vice doing versa kind of articles where one day they'll say one thing and one day they'll say almost exactly the opposite and why that's happening more and more so. And it is, I've done a lot of SEO searches and this is something that's definitely grown in the last two or three years and we've seen an increase in maybe the last four. But in particular this year it's actually grown to the point to where it's about 500 % higher rate than it has been in prior years. Why is that? The first thing was a change or a continual adjustment that we see on a lot of mobile phones. A lot of mobile phones are starting to put news sites on their home page and with android I believe anything that runs and can interact directly with google. If you have your phone open to the home screen and I think it's if you swipe left, you immediately go to a news page and this page is curated news for you. Now ignoring that there's curated news sites for a lot of people and many of us with too many news sites, too many websites, too many review sites. We use curated sites anyway. You might use something like feed Lee, which allows for you to take a bunch of websites and say I only want their data, but a bunch of websites could be five for one person and 250 for somebody else. Nevertheless, regardless of how you get there, that has made a huge change to the SEO or the search engine optimization for a lot of websites. And I ended up talking to two people from two different very big PC and console gaming websites and they both stated that their companies are pushing for them to get onto that curated instant home feed even higher than they used to with google, especially with the worry about AI and how google might handle the search screens. These kind of pages won't necessarily be impacted right away by the AI search results that we might see in google and being and so forth as we move forward. So what are they doing? Well, they're doing a tip for tack kind of thing where they're doing a positive video or a positive article on a game and then a negative one and I've been asked a lot of times why exactly is that? What's the law of diminishing returns? Let me give an example. Let's say I do a video about starfield and I get 100 % of all fans watching it and it's a positive video talking about space guns and exploration. Then let's say I do another positive video and it's about companions and quests. Here's one of the problems, both of those being positive videos and or website articles. What ends up happening is you get a diminishing return of the same fandom and that fandom will start to look and say, hey, I don't want too much. This is getting into spoilers. I only want a particular thing. And so that 100 % will drop to 95 % or drop to 90 % and then 80 and then 70 and then 75. Additionally, if the title and the overall article skews too positive, then what will happen is the people who are negative against it, whether you or I agree with that kind of stuff primarily and certainly before a game has come out being a little bit questionable in our eyes, it doesn't matter. There's a lot of people like that and they won't read or watch that first one and that will continue on and on. So the idea that you can hit both sides and we see a lot of times where they will actually task writers to have one writer write a positive article and one write a negative article. Now you can also skew negative all the time because people can be mad about everything. In fact, you can be more enraged about anything because the enraged part doesn't really have any scientific fact behind it. The difference between let's say a positive video about quests, you have to use examples of those quests and how they work. But let's say you want to do a negative article about quests. You can just list things that the quests for sure don't have and pretend they're negative and there's an unlimited number of those because there is only a limited number of quests and how they're put together. So if you find them positive, there's only a certain amount of time you can talk about those before you run out of actual scientific data behind it of actual examples behind it. But there is no requirement for actual examples of things missing. You can say, Hey man, there's no pizza quest. Here's my giant article about that. If there is a pizza quest, well as a website, you can probably only write one article about it. But 10 people can say, well, there's no abbey's pizza quest. There's no pizza pizza quest and you can just continue to build on that negativity. And we've seen some websites that have done that right now where they've got 10 2030 articles negative about starfield. And this is something we see or used to see even more on the Youtube side where you see a lot of videos negative about a game negative about a game. But I would say that with Youtube, the sheer amount of creators on Youtube has made it so that curation becomes difficult if you jump into that kind of let's say bombastic over the top kind of negativity. And we've seen a real reduction in views in that kind of stuff. The drama that exists is usually Youtube drama that exists in the Jake paul kind of arena and games when they come out, you can certainly see videos about that. But we're talking again about pre about prior to the game releasing and that's why we're getting it. This is why we're getting the tit for tat. There are actual writers being tasked. You write a positive article about this game, you write a negative one and I'm mentioning starfield right now. That means nothing. I could mention any game and this is the kind of stuff that can happen. And the larger the game, the larger the chance that the SEO or the search engine optimization that numbers indicate there is going to be an audience for that. So as Spiderman comes up, this will be definitely something that you'll see with Spiderman as well. And that's why you're seeing this back and forth. And that's why it can be confusing, especially with video games. I do want to point something out, not just video games. We'll talk about Youtube itself with Youtube. There is a net history unless you delete your videos as well. So when I say something and record something in a Youtube video, there is a nested history that continues from that point on with me on camera or the game on camera and me talking. That is way different than an article where somebody has to parse the entire article and there is no video, there's nothing. It's very easy to lose yourself and 1000 articles trying to find one where somebody said something negative where it's actually quite easy to just go back to, let's say a C G and find whatever video or historic evidence you're looking for. It's one of the reasons why not always, but one of the reasons why, especially on Youtube, you see a little bit more of a historic pattern that goes on because there can be some searching or at least an easier to identify historic pattern that goes on with a video creator. And this isn't a he said, she said or against four kind of situation. This is quite simply looking up SEO and in the last couple days just searching for this and tracking it down. It's quite easy to see there is factual data that this is occurring. This is something that also when I talk to people who are journalists that I trust who have told me a couple of these stories, I'm just like, I get it. You know, the only real way, especially with a lot of these news websites being hit by other kinds of news around the world. If they're a website that handles all kinds of news, hitting video game news is quite difficult. You, you know, you want to talk about the positivity of sea of stars or something like that? Well, that's not going to have a huge SEO. But if you want to talk about the negatives for star field or the leaks, those kind of things will be big enough numbers that it's easy to sell to your editor. It's easy to sell to the group that's running your website. Now let's jump into the tech a little bit. I want to talk a little bit about FSR and DLSS, FSR three. In fact, that's coming out here soon and why it's a little bit disappointing to be honest. So one of the problems when you look at any of these upscaling techniques, which by the way, some of them work incredibly well and it also depends on the game and it depends on the initial resolution that you're going to use. And for anybody who whoops, I hit my mic for anybody who doesn't understand what these upscaling systems are. They take multiple samples from a number of frames prior and then they build a higher resolution frame for you to actually see displayed. And so this is actually faster than having the game render that higher resolution display. And what's interesting is because they're trained using AI and because they're so smart, a lot of times, not all the time, but a lot of times you'll actually see a output that has more detail than the native wood because it's building together patterns and stuff. So for example, a rocky face, people might say, how does it have more detail? Well, one of the reasons why is because that four K output is done and it's sampled from, let's say, the native actual frame. What goes on with FSR and with DLSS is they're taking multiple samples and they're building out data including, let's say the grooves, the cracks that you may see in the rock. And they're actually finding more data with more samples and they're using pattern recognition. And when they put up that four K picture, depending on what they're creating, but with all of their sample data from AI, looking at thousands of rocks, millions, probably of rocks, I should say millions. What you can get is actually a more detailed texture and we're starting to see that and it's great, but we're also starting to see a lot of games where people are worried that FSR and DLSS are crutches that companies are not optimizing. I would say that that is possible and it certainly happened with a couple of games. It's also possible as somebody who's read the steam survey forum during the podcast recently is that a lot of people want their ancient ass cards to run games where the cards are actually pre PS four or PS four pro at least. And we are getting this division that's occurring now. This is something that if you want an actual example of this where we can see this example play out perfectly, it's WMR, the VR system that Microsoft created. One of the problems developers talk about all the time with this is that there were no set structures with WMR. So you could have 50 headsets, all 50 headsets with a slightly different FOV, all 50 headsets with a slightly different resolution, all 50 headsets with different pixel per inch. square And you would end up having it quite difficult to deliver what you would consider to be an optimized headset optimized kind of delivery. And we're starting to see that here. This is something that I'm not too worried about. I see consoles do this where they're aiming for their own internal up resin. We see that work well, sometimes not so well in the case of immortals of avium, but we see it work quite well in other places and we'll see this continually be fixed and continually be checked. We'll see FSR used for upscaling and now FSR has their own frame generation as does DLSS, of course, with the new DLSS. One of the problems with FSR's frame generation is this though. So with DLSS, they want you to have a somewhat high frame rate before you turn it on. And one of the reasons why that is is because regardless of how many fake frames you create, let's say you want to go from 60 to 120, your pulling rate for your controller or your movement is usually at still the exact frame rate that you were getting delivered to you prior to using the frame generation. One of the problems I noticed with FSR and I read this and I did talk to one developer about it to ask them if my worries were correct and they said generally they are it's we'll just have to see how this plays out. But one of the issues with FSR three is they stated that you pretty much need to be at 60 prior to turning it on. Now they want you to be very high in DLSS as well, but I think there were people who were testing as low as like in 38 and forties and stuff like that and still getting very good results. But they do induce latency already. Both of them do. And then you also have this polling rate issue. Why is this a particular issue for FSR three? Well, FSR three is a software format. It is not done via the hardware like DLSS, which uses the Nvidia cards hardware. FSR is agnostic. It can be used on any single device, which is one of its biggest bonuses for upscaling. When you change a lower resolution texture or a lower resolution screen to a higher one when it comes to frame generation, though this is using compute, meaning it's actually going to be using your systems power when there are gaps. And so the idea is, is what they're hoping for is that you already have the power to get up to 50 or 60. So there should be a little bit more power to possibly get more frame generation. And that's a little bit different than the way DLSS does it. Now there's all these idiosyncrasies with both of them. But if you look at it, the hardware and the cores that actually work on the Nvidia hardware are built and made for this. And when it when you look at FSR, it's not really like that. It's just hey, these work on anything and you can throw it up and it should do something. We're gonna have to see how this plays out. But I would say when you look at games like Starfield that's locked at 30 and people are thinking, oh, Starfield is going to save the day by have or is going to have its day saved by having FSR turn on. And we've heard from Todd Howard who said it sometimes runs at 60. That's not the same thing as all the time. And one of the problems that you can get is let's say you lock your frame generation at 60 frames per second, but it drops as low as 30 and then goes up to 60. But you're always using frame generation between 30 and 60 to lock it at 60 on your console. The problem is is that you will actually be playing with latency polling data as low as 30 and then up to 60. And what that can actually do is induce a very weird feeling of not necessarily judder, but almost like legginess that occurs over a longer period of time than you may expect. It's not instant, it's something that occurs as you continue to play a game where you're running and you make a slight adjustment and one side one time that adjustment because maybe it's running at a great frame rate at that particular time, that adjustment seems to happen almost simultaneously with your movement of the game pad. But then the next time there's just a bit of leg and that can actually cause, I wouldn't say motion sickness, but it can cause a little bit of almost like a brain blurriness where you're playing it, you're like something's up. It just doesn't feel exactly as snappy as we want it to be now. I don't know if they'll do that. We may see an announcement that FSR three, you know, pops out the day that star field pops out. But this is just something that happens with star field or not star field that happens with FSR happens with the LSS happens with what is the intel one Xe SS. These are expected when it comes to software solutions versus Nvidia's hardware solution. I'm a big fan of not using hardware solutions, at least on the PC side because you're locking out a certain group. However, I will say, I think when you look at this, you can see that technically the hardware side is obviously the positive side at this point and is the better of the two or three options. So I want to also say again, thanks to everybody who's a subscriber. We're looking at a really tough time for coverage with all these previews and all these reviews. I've had a ton of coverage that I've had to pass up. It has been a gnarly 2023, especially in these last couple of weeks. One of the things I talk about all the time is, ah, you know, I love games and it's no big deal. I love being busy. I do love being busy. I think it's great, but this is ridiculous. I mean, it's ridiculous. There's games that are previewing for 2024 right now and you know, article ability or not article, but YouTube for ability a video game that may be out in February of 2024, but they just happen to pop it here right now. So it can be quite difficult. There's a lot of titles and a lot of titles don't know what other titles are doing with their embargoes. So you get that and speaking of embargoes, you guys might have seen my tweet about embargoes. So one of the things that it doesn't infuriate me as much as it shocks me, somebody would be okay with this, but we saw a lot of people saying, you talked to insiders who can't talk because they're under NDA, but they say Starfield is this or they say Spiderman is this or they say blah blah blah is this. And a lot of times I'll pop off on twitter and be like, dude, I don't know who is breaking NDA, but you're an idiot because I got pinged 30 times in the last three days about Starfield. Do you have Starfield? Yo, I love your stuff, bro. Your stuff so great person's not subscribed. Person doesn't follow person hasn't done a like on any twitter. Obviously they're not. They just found out that I might have Starfield and they're pinging out and they want written, they want written explanations of your experiences with a game. That shit will come back to burn you. So any new youtubers who are watching right now are listening. If you're thinking for even a second, hey man, you know what? I might talk about this because I could be known as an insider. Maybe this person will come back and talk to me again later. Watch out man because you're writing something down. That person can take a screenshot. We've seen nothing but unlimited examples of this shit. So if somebody is asking you to speak on a game that's under NDA, don't just don't tell them to fuck off man. It's ridiculous. It's ridiculous and it's putting you on a hot seat that could come up at any time later. Let's say you love a person who's running a website or a youtube channel. You love them. You're talking to them. They ask you for some inside NDA data. So you tell them and then what happens? Maybe they get an editor and that editor doesn't like you and that editor starts looking back at chats. Maybe that editor leaks a little bit of data about something you've said in a tweet that kind or in a in a discord, that kind of stuff can happen. That kind of stuff happens all the time. I used to remember one of the jobs I worked at, I worked out for 13 years and you would get people who were really close to the boss and they would be doing shit that maybe for a year or two they'd get away with and then a new boss would replace that boss and everybody at the company would just be like that guy's gone. Like there's no, that person is going to find out, they're going to find out that there's, you know, little idiosyncrasies with the way they do their job or there's things that they haven't been doing that they should be, they're either going to be working really hard or they're going to fail and we saw it every single time and that kind of stuff can happen. We're speaking out of turn on NDA's and stuff. So I just want to point that out. If you're listening, just don't man, just don't, you know, I have people that will be like, do you have a game or blah blah blah and I'll be like, you know, yeah, depending on who the person is and then, you know, sometimes they'll ping and they'll ask more data and I'll just a lot of times I'll just be like, yeah, not going to answer until the game comes out because you never quite know, you know, there's a couple people, very few that I trust and that trust only lasts as long as that person is the same kind of person, the only real person you can trust is you. And I would say trust yourself to be OK with not telling everybody that you're in on the secret. Speaking of secrets. So for the last like couple years, pizza prices have been raising and I've been going to cheap pizzas and I realized a couple of days ago, I was like, oh, you know what? Abby's, they're a local brand, somewhat local, but they're there in a couple of places around, you know, other states. But I notice I'm mostly in Oregon and I was getting all these, you know, advertisements for Abby's and I had skipped out on them because they were expensive, but I hadn't realized that all the other pizzas had got as expensive as they did. So a couple days ago, I was like, yeah, I'm going to order an Abby's pizza. We got this pizza and I'm telling you, oh, my God, it's a secret. It's a secret that I want out. That pizza is so goddamn good. It was ridiculously good. And it's so funny because I was getting pizza from, you know, a lot of these places that are like, look at us. If you want your oysters on pizza, you can have it. You're like, listen, stupid. I want pepperoni or salami. I don't need your fucking seafood on a pizza. It doesn't exist on a pizza. Seafood on a pizza is accidentally spilling your surf and turf on to the pizza. That's it. It's the only reason you would ever see shrimp on a fucking pizza. I don't care what anybody says. So the idea that I want that kind of stuff, whatever. I was usually just getting your pepperonis, your Canadian bacons, that kind of stuff. And so I got it a couple days ago. I got the most generic pizza from them. It was a I got a pepperoni and I got a Canadian bacon and pineapple. And I got to tell you, man, I took a bite of that and I was like, oh my God, this is good. Leveled up my pizza game. Well, returned, really. Technically, you could say I was just in the down years because I used to love them and started going with other companies, just some cheap no names and stuff, because, you know, at that point when everything was so cheap and some places were so expensive, you're like, ah, it's fine. I don't need them. And then once everything sort of raised up to that price, it was like, yeah, I'll jump in. Why did I bring up pizza? Because I got more today and I cannot wait to bite into it. I got a bunch of games to review and sometimes you need a little snacky snack and pizza is the way to do it. Also, I did end up finding out that I can get some some cheaper prices on shirts. I have a coupon for if you go to what is that Teespring, I think is the company I use their spreadsheet. You can see it on the YouTube channel. There should be a code that you can use. ACG dash gaming and get shirts for about 10 or 15 % off. I did want to point out as one of the YouTubers, one of the few YouTubers with an all over shirt, meaning the printing is everywhere. It's not just a front square or something stupid like that. We do do more of the gamer style, the esports style shirts, and I know that's not for everybody, but I love them. I think some of those designs are wicked. There there's no profit, by the way, zero. And that's fine. I want the name of the channel out there. So I have no issue and I want somebody to have a cool shirt. But I'm surprised how expensive they are. Like, I mean, they're expensive. I saw somebody who was trying to find a cheaper shirt being made somewhere and shirt prices have gone up for getting created. But again, you should be able to see that. If you don't see the code and you need it, you can ping me on Twitter and I can give you the code for that for for cheaper shirts. Reason why I bring it up is in just one video, I saw 2200 people click on a shirt and I was like, oh, but 22 people, 2200 people didn't buy it. I'm like, yeah, it's probably because we're choosing that all over print, which is so expensive. But you know what? I love it. I love it. I've got a bunch of them myself. I just I absolutely love the all over kind of print style. I've never been a fan of T shirts with just the logo on the front. You know, Star Wars. I've been a fan of the art going all over the shirt since I was really young and we had a shirt place when I was a kid that did our baseball shirts and they faked it. They found a way because this is prior to the technology really being easy to do, not like just a tie dye where they're using dyes. But these guys, they were really smart with how they did designs and they were able to basically do the design all the way around the shirt. And I remember like everybody, I'm pretty sure we won a couple games just because our friggin jerseys looked so wicked. People were like, What the fuck? Now, of course, no big deal. I think it's time to wrap this one up. Yeah, it's only 23 minutes. But guys, I am swamped with games. I got to end up getting some of these videos out. I skipped out on two or three previews this week. Just because there were so many to do. It's a good problem to have, but I do have a bunch of work to do this week. So I'm going to skip out on this, get back to work, start taking care of dem dogs. If you are not a part of the patron, come on by. It supremely helps the channel. We are just absolutely demonetized for the craziest shit. Atlas Fallen got demonetized and I still to this. They never explain why. So when you come into the patron, five bucks gets you the discord and I think it's awesome. I mean, it's definitely become my social hub for everything. Games, movies, pizza talk. Right now there's been, you know, over 1000 posts already. People just yakking up games old and new. It's a great place. You can stream some stuff, hang out, do some D &D, some tabletop sim, discuss anything you want to discuss in a cool environment. Other than that, I want to say peace out to everybody. Once again, thanks for subscribing and you'll see some reviews and previews for me later this week. Peace out.
A highlight from 1380: Bitcoin ETF Will Send BTC to $1,000,000 - Michael Saylor
"In today's show, I'm going to be breaking down the latest technical analysis as the Bitcoin difficulty jumps six percent to a new peak as miners ignore the Bitcoin price dip. We'll also be discussing one metric hinting at an opportunity of a lifetime to be accumulating BTC. We'll also be discussing the 20 billion dollar delay as the appeal court pushes back the decision on Grayscale spot Bitcoin ETF. We'll also be sharing Bitcoin still on track for a huge bull market despite losing critical support. According to top crypto analyst Dave the Wave and quoting Max Kaiser, gold prices are provably manipulated. Arresting these guys hasn't stopped it. Bitcoin futures ETFs, not spot price ETFs, allow similar price suppression scams. This is why futures ETFs are getting approval, but not the spot price ones. We'll also be discussing Michael Saylor's one million dollar price prediction. He says it looks like a spot ETF will probably get approved, sending the Bitcoin price to one million dollars per coin. 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. Welcome everyone. Just tuning in and joining us. The crypto market is pumping once again, which we love to see. Bitcoin's on the cusp of recapturing 27 ,000 and the entire market is back in the green. If that excites you, let me know in the comments below. Checking out our market watch right here and shout out to everyone in the live chat. You can see Bitcoin trading at 26 ,700, up three and a half percent for the day. We have Ether trading at just about 1 ,704 % for the day, and some of the top gainers in the top cryptos include Solana and Cardano. And checking out coinmarketcap .com, we're back on the climb with about 37 billion in volume in the past 24 hours. The Bitcoin dominance at 48 and a half percent and the Ether dominance at 18 .9 % and checking out the top 100 crypto gainers for the past week. AC of green, finally, it's about time. Only a handful in the red, massive gains across the entire altcoin market. And checking out the crypto greed and fear index. We're still stuck in fear, unfortunately, but I have a good feeling this will be updated tomorrow, probably back in neutral. Last month we were in greed. And now let's check out our Bitcoin technical analysis for the day. Check out the charts and what is happening. And again, welcome to everyone just joining us. Make sure to say hello in the live chat and let us know where you're tuning in from. For the technicals, we're using trading view today. You can see the oscillators overall. The signal is neutral and we have a strong sell for the moving averages at this current time. You can see relative strength index on the left neutral. The majority of all of these indicators are neutral, but on the right, most of the exponential moving averages are currently in sell territory as a lot of people have been selling, I'd say in the past 48, 72 hours. But guess what? We're pumping and back in the green. So hopefully we can climb back above 27 ,000 and eventually recapture that 32 ,000 level, which is the current high for the year. And a quick reminder, there's not much resistance in between that 32 and 40 ,000 levels. So do you guys think we're likely to continue dropping down as everyone was preaching doom and gloom the past two, three days in the market when we had like over a billion dollars liquidated, et cetera? Let me know your honest thoughts in the comments right down below. You already know you're tuned into crypto news alerts. I am bullish every single day, 365 days out of the year, because I understand Bitcoin. I understand the long haul trajectory is up because I have a long term investment mindset. I'm looking at this thing five, 10 years plus out. I'm not looking, what's the price going to be tomorrow or next week? Let me know if you guys can relate. But with that being shared, fam, now let's discuss the Bitcoin difficulty adjustment, which just occurred, which is always a good sign as the network continues to get stronger and stronger. And this is a very strong fundamentals. Bitcoin's network fundamentals are in no mood to follow bearish Bitcoin price action this week. The latest on -chain data confirms that difficulty hits yet another all time high with the hash rate not far behind. And as Max Keiser commonly shares, the Bitcoin price follows the hash rate. That's facts, fam. Keeping that in mind, let me know if you are currently bullish. Despite dropping 10 % last week, the miners appear to be taking the price downturn in their stride. This was cemented in the network activity August 22nd as difficulty increased 6 % at its latest biweekly automated adjustment. Not only was this enough to take the difficulty to the new record highs, but it also marked Bitcoin's sixth largest difficulty uptick of this year and figures for monitoring resource BTC .com show. Difficulty is a reflection of both miner capitulation and the Bitcoin network security, and its upwards trajectory suggests that the miners are not yet struggling when it comes to profitability. That means the miners earn profit. The next automated readjustment is already due to continue the trend, taking difficulty over 56 trillion for the first time in history. And here you're looking at that all time high chart for the difficulty adjustment, showing the Bitcoin network fundamentals stronger than ever. Now, a similar story concerns the hash rate, the estimated hashing deployment by miners to the Bitcoin blockchain. And while not possible to calculate exactly, so depending upon the source, hash rate is already challenging existing all time highs of over 400 exahashes per second. Let's freaking go. Responding to the data, we have the MACD, a contributor to on -chain analytics platform CryptoQuant, referenced high confidence in the security and reliability amongst network participants for both Bitcoin and the largest altcoin, Ether, quoting them here. Recently, the prices of Bitcoin and Ethereum have fallen by negative 10%. However, the network security and reliability have increased. Go figure. First, the Bitcoin hash rate shows higher figures during the decline, which shows that miners are more active in Bitcoin mining. And second, the Ethereum staking rate shows that more ETH has been staked, even though the price has fallen, quoting them again. This means that investors have high confidence in the security and reliability of Bitcoin and the Ether networks. The fact that the price had fallen, despite the increase in the intrinsic value of the two assets, means that they are undervalued and it can be considered a time to actively accumulate those assets. So you're already no fan, keep stacking them sass. And isn't this a sexy chart showing you the Bitcoin hash rate as it continues to climb? And separate data from on -chain analytics firm Glassnode shows little tangible change in the amount of Bitcoin held by mining entities. This stood at just over 1 .83 million BTC as of yesterday, up by a steady 0 .08 % since the start of the month. So there you have it. I mean, let me know in the comments, how many of you are currently bullish on the King crypto and anticipating that price climbing as we inch closer and closer to that Bitcoin having right around the corner, estimated to be sometime in April of 2024. We also are going to be talking about the spot Bitcoin ETF as upon approval, we can send the Bitcoin price North of $1 million, according to the one and only Michael Saylor, which will be covered in great detail a little later on in the show. Now let's discuss some mass accumulation going on. We've been discussing this as the whales continue to huddle and continue to stack sats while the short term hodlers are the ones with the weak hands, the paper hands who are selling to the strong hands. But anyways, let's discuss this accumulation crypto data platform Santiment is offering insight into signals that could indicate the right time to accumulate Bitcoin as well as the alts. Santiment marketing director Brian Quinn volian says that buying opportunities for crypto assets have historically presented themselves when trader sentiment is neither pessimistic or optimistic across the major social media platforms such as Reddit and X, quitting them here when all four social media platforms align and have settled back down to mentions of buying the dip. This is when the actual opportunity has historically presented itself for patient traders. Patience be thy name. What's up, sages? Now, believe it or not, it is a good sign that people are no longer certain that this is a buy the dip spot. It means that pessimism is beginning to take over again as the market caps fade. And according to the analysts, optimism in the crypto community was high immediately after Bitcoin fell close to 26 ,000 the first time since June. But the sentiment quickly changed, quitting them again. What has happened following the Bitcoin dropped to 26 ,100 and subsequent altcoin bloodbath for starters, it is no surprise. We saw a huge rise in buy the dip mentions. This indicates that trader optimism was quite high and there could be a quick market recovery. But look at how the wishful thinking has died down considerably in the past few days. Now on the level of discussion that Bitcoin and the alts are currently experiencing, Santiment's director of marketing shared the following. We can also see that the percentage of discussions related to Bitcoin spike to its highest level of the year on the tail end of the market crash. However, instead of Bitcoin social dominance staying high, it quickly dropped back down to relatively normal levels as traders appear to be showing some greed in relation to whatever the hot altcoin on the block are currently. Now, we could actually like to see the social dominance stay quite high as this scenario is usually correlated with thriving and healthy crypto markets. High discussion related to the number one asset coincides with fear, whereas discussions about more speculative assets tend to coincide with greed and fear is when the markets rise. Facts. So there you have it. Let me know if you are currently accumulating or are you getting rid of your bags in hopes that the price drops lower? I know a lot of people were like very bearish in the past few days in the show. They're like, we're going to be dropping back down sub $20 ,000. Some people predicting a new low for the cycle. Current low is sitting at roughly $15 ,700. And I'm skeptical of all that. There's always a probability that anything could happen, but I just do not see the price action dropping sub $20 ,000, but we'll see how it plays out. I'm just too bullish coming with that halving around the corner. All the ETFs and the apps from the likes of Fidelity and BlackRock and the list goes on and on. Obviously, that's the smart money and we like to follow the smart money and not the dumb money as we discuss often here in the show. Now let's discuss in more detail the Spot Bitcoin ETF and what is happening.
A highlight from 1379: Bitcoin Will Reach $400,000 Next Halving Epoch
"In today's show, we're going to be discussing Bitcoin analysts eyeing a V -shape Bitcoin price bounce as the RSI hits a five -year low. I'm also going to be sharing with you a new Bitcoin bull cycle metric, which bought them before 70 % gains. We'll also be discussing mysterious Bitcoin wallet becomes the third largest Bitcoin hodler in under three months, now at over $3 billion. We'll also be discussing the trader who nailed the 2018 Bitcoin price floor predicts the bear market bottom for crypto. I'll be breaking down his outlook. We'll also be discussing Guggenheim predicts a $400 ,000 Bitcoin price prediction, as well as Blockware. They share that the Bitcoin price can reach $400 ,000 during the next halving epoch. I'll be breaking this down for you. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Yo, what's good, crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at Cryptonewsalerts .net. Again, that's Cryptonewsalerts .net. Welcome, everyone. Just joining us. This is podcast episode number thirteen hundred and seventy nine. I'm your host, JV. And today is August twenty second, twenty twenty three. And naturally, we have lots to cover. Unfortunately, the market is continuing on its downward spiral. We just broke that twenty six K resistance, as you can see here. And our market watch, we've got Bitcoin currently hovering just above twenty five thousand eight hundred dollars. We have Ether barely holding on to sixteen hundred. So the million dollar question becomes, how low will she go? And checking out CoinMarketCap .com, the crypto market cap barely holding on to that trillion dollar milestone, with about twenty eight billion in volume. In the past twenty four hours, we have the Bitcoin dominance at forty eight point four percent and the Ether dominance at eighteen point nine percent. And checking out the top one hundred crypto gainers for the past week, virtually nothing, and maybe just a handful, just a sea of losses, very unfortunate for the entire crypto market and checking out the crypto greed and fear index. Of course, we're still in fear today, rated to seventy eight. Last week was a fifty three neutral and last month a fifty four neutral as well. So there you have it. I mean, I've been taking advantage of this recent dip. I mean, sub twenty six thousand dollar Bitcoin seems like a bargain. If you're to ask me, let me know in that live chat. And now let's break down today's Bitcoin technical analysis and check out the charts and what is happening right now in the markets. Bitcoin stayed stubbornly anti trend today, August twenty second, as twenty six thousand became a magnet for the intraday Bitcoin price action. And again, we're just currently dropping right below it. And regarding the RSI readings, here's what someone had to share. At this stage, it feels like a game of chicken to see who is going to make the move to break the chop, according to material indicators. Now analyzing liquidity on the Binance order book, he also notes that a broad lack of liquidity, increasing the potential for a sharp move in either direction. Quitting the analysts here, the market is waiting to see if more bid or more ask liquidity is going to be attracted to the range. So far, we're seeing small amounts of bid liquidity ladder up from twenty thousand closer to the active trading zone, but no liquidity of any size new or moved has been stacked into the range, defending the price from the lower low. The implications were nonetheless potentially very serious for the bulls with the lower low apt to risk even a twenty thousand support going forward. Quitting the analysts again, needless to say, printing a lower low on this time frame has macro implications. Printing two lower lows would push the Bitcoin price to sub twenty thousand dollar levels. So a great question. How many of you are anticipating the Bitcoin price action dropping below twenty thousand? Let me know. Now zooming out, hope remain that Bitcoin can rescue its overall uptrend. So it's not all doom and gloom. In a dedicated video, we had crypto analyst Mikal van de Poppe shared that on the twelve hour time frames, the RSI measured less than nineteen at the time of writing near its lowest level since the twenty eighteen bear market bottom. Daily levels were similar, reaching their lowest since the March twenty twenty no vid crossmarket crash, quitting him here. Every time we see such a move, you get a sort of V shape recovery back up and it finds equilibrium on the higher floor. And he also added it was very likely that Bitcoin can stage a comeback to focus on twenty six five or more next as the outlines here in this chart. He also shared that the current Bitcoin price action reminds me of September twenty twenty absorption and slowly grind higher here for a while. And I can see this play out similarly. So there you have it. What are your thoughts? Do you feel we're likely to continue downwards, potentially sub twenty thousand or even touch in as low as twenty thousand? Or do you feel we're likely to continue climbing back up as the analysts on the ladder shared? Let me know your honest thoughts in the comments. Right down below. Now let's discuss a new bull cycle amongst us right now. Shall we check this out? The Bitcoin metric that nailed the pit of the twenty twenty two bear market says this uptrend is still intact. Let's go and a new post. The creator of on chain analytics platform looking to Bitcoin shared some good news in the form of Bitcoin's realized cap huddle waves metric. Let's go. While last week's 10 percent Bitcoin price dip has up ended some of the on chain landscape, the our huddle is one of the metrics taking the longer term view of what remains a timely bull market. This metric takes existing huddle waves data, which groups the Bitcoin supply when each coin or specifically the unspent transaction outputs last moved and waits it by the realized price. An example of the price at which it last move, quoting them here, peaks in younger age bands, highlights the periods where they have a proportionally higher realized value waiting relative to the older realized value age band, said Philip Swift. And he also shares this is important to note, as it indicates that the market is prepared to pay higher values for Bitcoin today and in recent times versus historical norms. This can be a good indicator that the market is becoming overheated. What are your thoughts now? Currently, the bands of coins that last moved three to six months ago are rising, a phenomenon coming to the start of the Bitcoin's previous bull markets. And on the topic of the August drawdown on Bitcoin Swift thus concluded that the recent price dip is the context of a much bigger bull trend, quoting him again here, three to six months band trending up as new money comes back into the market equals new bull cycle. Let's go. Now, our huddle has an impressive record when it comes to Bitcoin price phases. Back in December of last year, when Bitcoin was circling its two year lows of 15 six, which is the current market bottom, Swift used this metric to call the end of the euphoria among Bitcoin's speculative investor cohort, which he labels Taurus. He stated that that time that the market is likely now at these cycle lows, which means maximum risk reward opportunity, which I discussed in great detail yesterday. I said there's way more reward than risk currently in the market. And beginning in January of this year, Bitcoin began a new uptrend that delivered 70 percent gains just in quarter one. And since then, investor composition has changed with the short term huddler entities holding Bitcoin for one hundred and fifty five days or less, reducing their overall exposure to their lowest since November of twenty twenty one. And the latest dip nonetheless increased pressure on those remaining speculators, but almost 90 percent of the short term huddler coins now held at an unrealized loss. But I also like to point out that also the smart money, which are the whales, are continuing to accumulate. So even though the short term investors are the paper hands selling their Bitcoin potentially to BlackRock or MicroStrategy, whatever big corporate interests out there, the smart money is continuing to huddle. And as you know, we like to follow the smart money with that being shared, fam. Now let's discuss this new wallet, which came out of nowhere and has now accrued over three billion dollars worth of Bitcoin in less than three months. Who do you think owns this wallet? Well, let's look into it and discuss it, shall we? A mysterious Bitcoin wallet has surged up the ranks to become the third largest huddler of Bitcoin in the world in just over three months, with the timing sparking some wild theories about its owner. According to data from crypto statistics platform Bitinfo Charts, the wallet address first received Bitcoin on March 8th, and over the course of the next three months and two weeks, the wallet had accrued a staggering one hundred and eighteen thousand BTC worth over a billion dollars at today's current prices. Now, the rapid and significant accrual of Bitcoin within a single wallet addresses has attracted its fair share of conjecture naturally on X. Some users suggest it's most likely a crypto exchange moving their funds, while some more radical members have posted and more wild theories suggesting that Black Rock is the prime suspect. As shared here, this unknown address has accumulated over three billion dollars worth of Bitcoin in the last three months. The prime suspect, my first major transaction, which was thirty four hundred Bitcoin, occurred on May 16th, 2023, almost exactly one month later, on June 15th, when Black Rock filed for spot Bitcoin ETF. Now, very interesting, right? Now, the current largest Bitcoin wallets in the world, according to Bitinfo Charts, are reportedly owned by Binance and Bitfinex and are Bitcoin cold storage wallets. The unknown Bitcoin wallet comes in third place and is then followed by another Binance cold wallet in fourth place. Now, Black Rock made waves in the crypto market, as we know, June 15th, filing an application for the spot Bitcoin ETF product that, if accepted by the SEC, will be the first of its kind in the United States and completely change the game. Black Rock's applications sparked a wave of filings for similar spot products from a horde of other Wall Street heavyweights, including Fidelity, Invesco, Wisdom Tree and Valkyrie. The prospect of a spot Bitcoin ETF whipped crypto analysts into a frenzy, sharing their bullish predictions for the price of Bitcoin with Fundstrat's head of research, Tom Lee, suggesting that Bitcoin can reach a price of one hundred and fifty to one hundred and eighty thousand dollars per coin following the halving event scheduled to be in April 2024, which is now officially less than nine months out. What are your thoughts, though, fam? Let me know in the comments. And at the end of the show, I'll be reading everyone's comments out loud. Now let's discuss before we get into very bullish price targets, including this four hundred thousand dollar prediction, which is the main topic for the day. First, let's discuss where's the Bitcoin price likely to bottom out, according to this top analyst. Let's discuss it. The trader who accurately called Bitcoin's twenty eighteen bear market bottom is forecasting how the entire crypto market can carve a price floor for this cycle. Synonymous analyst Bluntz, what a username, love it, shared on social media X that he closely is looking at the total market cap of crypto, which is the total chart. Bluntz says he sees the total chart losing about 15 percent of its value before crypto assets can witness a significant bounce, quitting him here, looking at total paints, the clearest picture of them all and far more than looking at either ETH or BTC on their own based off the total chart. I do believe the June lows still need to be swept before calling bottoms, but it will probably be the last good buying opportunity of the next few years. So seize the moment, fam. And as you can see in this total crypto market chart, you can see we're currently sitting at just barely above one trillion. He sees us dropping before rising to one point four trillion dollars. So it appears that he expects the total market cap of all crypto to plummet to roughly eight hundred and eighty billion, wiping out one hundred and twenty billion off the current market. The analyst is a popular practitioner of the Elliott Wave theory, which we commonly cover here, an advanced technical analysis approach that attempts to predict the future price action by following crowd psychology that tends to manifest in waves. Bluntz says that his prediction is based on a model that outlines an asset's potential correction after a steep rally based, quoting him here, based off simple Elliott Wave model, viewing the rise from the lows as an impulsive move and our corrective wave from the highs being around 70 to 80 percent complete. Now, let me know if you agree or disagree with the crypto analyst. Do you think the crypto market cap needs to shed another one hundred and twenty billion before we rise back on up? Let me know your honest thoughts in the comments right down below. Now let's discuss Guggenheim's seven I'm sorry, four hundred thousand dollar price prediction. Scott Minard, who is their CIO. He originally made this prediction, I believe towards the end of twenty twenty one. Now, unfortunately, he has had a heart attack and he passed, so he's no longer with us. He literally died in December of last year. But nonetheless, he still made this prediction. So we're going to cover it and then we're going to discover the outline metrics from Blockware and their four hundred thousand prediction for the height of this cycle for the next halving reaching the epoch, which is also interesting because they're also suggesting a four hundred thousand dollar price action per coin. Then we'll dive into our live Q &A. So here we go. This was again, this article was dated, as you can see here, January 18th, twenty twenty one. So this is roughly just over two years ago. And at that time, Bitcoin was trading just above forty one thousand dollars. So here's the prediction coming from Scott Minard, from Guggenheim, a large, large asset manager. I think one thing that we are seeing is the sudden interest in retail. We are moving into a speculative frenzy and perhaps it's time to take some money off the table. Now, the debate around Minard's two opposite comments for Bitcoin sparked curiosity amongst the crypto community when he said time to take money off the table. And he also added on this tweet, it was before it became X, it was right Twitter. So he shared Bitcoin's parabolic rise is unsustainable in the near term, vulnerable to a setback. The target technical upside of thirty five thousand has been exceeded time to take some money off the table. And just at that time when he made that tweet, Bitcoin entered a strong correction. And over that time, Bitcoin tested support at thirty thousand twice before resuming back northwards and also talking about the positive side, back to the four hundred thousand price prediction. The Guggenheim CIO said that Bitcoin is becoming a favorable asset class slowly. That's right. And still remains positive on the Bitcoin price action for the long term, quitting him here. The other side of that is demonstrating that crypto is becoming much more mainstream. The four hundred thousand dollar price I talked about was based off the supply of gold in the world and crypto in a lot of ways is more attractive than gold. Let me know if you agree or disagree. I absolutely agree that Bitcoin is way more attractive than gold and comparing it to the yellow metal market. Minard said that Bitcoin comes with additional benefits like portability and ease of transactions. And note that Guggenheim Partners is already seeking five hundred million dollars worth of exposure to Bitcoin via the Grayscale Bitcoin Trust, which is the GBTC product, the largest HODLer Bitcoin in the world. They currently control over four hundred thousand BTC. So this will be a 10 percent exposure to Bitcoin from five billion Guggenheim's macro opportunities fund. The investment giant's proposed SEC filing shall become effective January 31st. And when asked Minard of if any of their funds have been allocated into Bitcoin, Minard hinted that they are still waiting for the SEC to approve their proposal. He added that if client demand picks up, they would possibly consider some allocations. And he also revealed that some small private Guggenheim funds have done some allocations, quoting him again, and some of our private funds, we have already purchased it. I recommended it to somebody. So if you believe what I said, that it'll go to four hundred thousand dollars per coin eventually, then two percent of your portfolio will be 20 percent before this is all over. So there you have it. Let me know if you agree or disagree with Scott Minard. And again, rest in peace. The dude had a heart attack at the end of last year and is no longer with us. And with that being shared now for our main story of the day, and that's the block where outline prediction of a four hundred thousand dollar Bitcoin price, along with the math to back it up. Now, this is pretty awesome. And again, shout out to everyone today in our live chat. I appreciate everyone's support. Shout out to Blockware Solutions as they shared on X how Bitcoin can reach four hundred thousand dollars per coin during the next halving epoch brought to you by Blockware Intelligence. Here we go. Twenty twenty four halving analysis, understanding the market cycles and opportunities created by the halving. Unlike other commodities, Bitcoin has a predetermined algorithmic supply schedule, which cannot be changed. There are multiple factors contributing to the cyclical nature of Bitcoin's price, including network adoption and the macroeconomic environment. But the most impactful is the mining subsidy halving. Yeah, that's right. Bitcoin's market cycles are unique due to its fully transparent block chain, providing market participants with more granular information than any other asset class. And moreover, the predictable supply schedule further impacts the psychology of market participants and example demand. So number one, halving's reduce the sell pressure. Miners are the primary force of sell pressure on the price of Bitcoin they receive, although the newly issued Bitcoin and the majority of which they must sell in order to fund operating expenses for their mining operations, the weakest miners on the network are eliminated and sell pressure is significantly reduced. The price of Bitcoin begins drifting up and a new wave of adoption then begins and assuming a thirty five thousand price action after the halving, the U .S. dollar value of Bitcoin mined per year can drop from eleven and a half billion to five point seven billion dollars. That is one hundred and sixty four thousand two hundred and fifty Bitcoin less mined every year, more than MicroStrategy's entire Bitcoin treasury. Now, after the inefficient miners capitulate, the profit margin increases for surviving miners, which further reduces the sell pressure. So based on the post capitulation hashrate estimate, this would result in a two point three billion dollar reduction in annual sell pressure from the miners. Now, number two, halving brings new demand with supply being diminished. Demand is the only remaining variable determining the market price of BTC. Many market participants understand the supply side dynamics at play due to the halvings. Historically, this has led to a surge in demand in the months following each halving, as evidenced by on chain data. We'll be checking out these charts in a little bit and do the positive sentiment market participants prepare to deploy capital at the first sign of upward momentum. Now decreased supply plus increased demand equals strong positive signal for the price appreciation. Number three, the halvings cannot be priced in. Despite their predictable nature, halvings cannot be fully priced in before they occur. A higher price today would result in more miners coming online, introducing additional sell pressure and limiting the price appreciation. And moreover, the weakest miners, those with old generation machines and or high operating costs, are the first to unplug post halving. The elimination of these miners significantly reduces the sell pressure as they were selling most of their Bitcoin to fund their operations. Lastly, there are some market participants that believe halvings are bad for the security of the Bitcoin network as the diminishing block subsidy reduces the amount of miners making Bitcoin more vulnerable to an attack. And when halving successfully occur, these doubters are proved wrong and positive sentiment increases. Now, number four, Bitcoin cycle volatility and historical performance. Bitcoin's extreme volatility is a side effect of its halving shocks and rapid global adoption, resulting in four distinct stages within each halving cycle. Stage one, the halving, stage two, the bull market, stage three, the bear market and then stage four, recovery. And while Bitcoin is often criticized for its extreme volatility on a long enough time horizon, its volatility is solely to the upside. Keep that in mind. Now, nobody who has ever bought Bitcoin and held it for more than five years is down on their purchase. That's worth repeating. Nobody who has ever bought Bitcoin and held it for more than five years is down on their purchase. So in a long term, how long is that? Holla in the live chat. And for each epoch, the price of Bitcoin has increased by the following amounts from the halving to the next bull market top from 2009 to 2011. We had a 584 X increase in price action from 2012 to 2015, 92 X from 2016 to 2019, 30 X and from 2020 to 2024, 7 .7 X. And now number five, diminishing returns may not be the case going forward. Some question the bullishness of these halvings as the stock of existing Bitcoin grows relative to the amount of new bitcoins being mine. This is a common perspective, but it may be incorrect. Less than 10 percent of the existing Bitcoin have moved in the last month. A large majority of Bitcoin is held by users unwilling to sell at today's price. Now, the small amount of bitcoins that is moving and being traded is what determines today's price. There is a baseline of demand and from Bitcoin are saving for the future. The reduction in sell pressure becomes more pronounced, each halving after Bitcoin more than doubles in price. This indicates that halving induced reductions in sell pressure could become more extreme and potentially lead to larger bull runs in the future. Now, 2024 will be the first halving where the supply of Bitcoin available for trade decreased since the previous halving. And during spring of 2020, the percentage of the outstanding Bitcoin available for trade was at an all time high, indicating the Bitcoin was over becoming more abundant. However, this trend had reversed over the last three and a half years. And as the new bull market begins, there will be less Bitcoin available than the previous cycles. The first halving this has ever occurred. And assuming the price of thirty five thousand at the date of the halving, a four hundred thousand dollar cycle top would break the trend of diminishing returns, which is a reasonable expectation due to the two billion having supply shock and increasing scarcity, a liquid BTC supply on the exchanges. Now, number six, juxtaposition with gold. Gold is an asset similar to Bitcoin and that they are both non -sovereign stores of value. However, when juxtaposed, Bitcoin poses far more desirable attributes. Facts. Number one, Bitcoin is absolutely scarce, while gold is only relatively scarce. That's true because with gold, you can continue mining a new supply, adding to the overall supply each and every year with Bitcoin. There could never be more than twenty one million Bitcoin. And number two, Bitcoin is more portable, divisible, fungible and is less vulnerable to rehypothecation by centralized custodians. Facts. So after the 2024 halving, the inflation rate of Bitcoin will fall under one percent, which is less than half that of gold. Now, four hundred thousand dollars per Bitcoin would put the market cap of Bitcoin just beneath the parity with gold. Let's go. Can't wait for a twelve trillion market cap for the king crypto personally. Now, given the bullish catalysts induced by the halving, we believe this is a fair estimate for the top of the coming Bitcoin cycle. Now let's take a look at some of these charts, which they shared. This first one shows you the Bitcoin price issuance with the 90 day moving 90 day change issuance. And you can see, you know, the different metrics here in the different colors. And then let's go to their next chart here. It shows you entities net growth with a 30 day moving average. You can see the surge in demand and just continuing to move on up like clockwork. And then in this final chart here, we can see the Bitcoin price all time highs for each cycle, which is separated, which you can see here. Yes. So, I mean, if history doesn't repeat, oftentimes it shall rhyme. So I cannot wait. And I'd personally love to see a four hundred thousand dollar price action. And this shows you the hash rate, which just continues to climb, reaching all time highs, making the Bitcoin network more secure than it's ever been before. And they also shared an interesting update, which I might as well read that as well right here. Part two. Let's read a touch of this and then we'll dive into our live Q &A. What machine and electricity rate will Bitcoin miners need to survive this twenty twenty four halving? Check it out. There are three distinct phases in the time before, during and after the twenty twenty four Bitcoin halving. We've got number one, the pre halving, number two, the post halving and number three, post capitulation. Number one, the pre halving before the twenty twenty four halving, all miners will be operating at a profit but are likely selling at least enough Bitcoin to cover their operation expenses. Miners with the most efficient machines and the lowest energy rates have the lowest Bitcoin breakeven prices. And the miners with higher breakeven prices are either unprofitable or forced to sell at a higher percentage of the Bitcoin that they mine in order to cover their operating expenses. And also it includes what's minor and Avalon equivalents, which are size adjusted for the percentage of the total network hash rate. Now let's discuss the post halving after the twenty twenty four halving. Many miners will become unprofitable since miners have already made significant capital expenditures for mining Bitcoin infrastructure and are locked into energy contracts. They are unlikely to turn off immediately. So instead, they will try to continue operating for as long as possible, hoping the Bitcoin increases enough to make them profitable again. Now, unless Bitcoin price appreciates quickly, the extreme margin compression will begin to force inefficient miners offline. And number three, the post capitulation following the capitulation of inefficient miners difficulty will adjust down, lowering the breakeven prices for surviving miners who will become even more profitable. So there you have it. I mean, shout out again to Blockware. Awesome analysis on their outline of the Bitcoin price going to four hundred thousand dollars per coin at the epoch of the next halving, which again is right around the corner next year. Let me know if you agree or disagree in the comments right down below. And don't forget to check out CryptoNewsAlerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
A highlight from Web3 Marketing's Next Big Thing: Mass Messaging Across Wallets with Shane Mac
"In this episode, I'm joined by Shane Mack, the CEO and co -founder of XMTP. We had an intimate conversation about Shane's entrepreneurial history, where we took a detailed glimpse into his previous startups, multi -million dollar acquisitions, and his vision for the XMTP protocol. The motivation behind this episode was to capture a core pillar of Web3 growth networks and why communication is the bedrock for any thriving project or company in the ecosystem. Their recent partnership announcement with Coinbase wallets sparked a wave of excitement around wallet -to -wallet communication, especially at Bello. Recently, Bello integrated XMTP, where users can now send mass messages to their NFT collectors, or rather any list of wallets. XMTP is key for Web3 mass adoption, and I couldn't be more excited to capture this moment on Mint. So without further ado, I hope you guys enjoy our conversation. Mr. Shane Mack, welcome to the Mint Podcast. Thank you for being on. How are you doing? Hey, it's great to be here. I'm doing great. How are you? Feeling alive, even more excited to share these next, what, 45 minutes, an hour together to talk about the future of wallet -to -wallet messaging, growth marketing, and where community building lies in Web3. But before we get into all that, Shane, I think a good place to start is to understanding more about your background particularly, more so from the perspective of how did you get into Web3 and even getting to building XMTP? Yeah, it's funny. I go all the way back to when I was 12 years old. When I was in eighth grade, I found eBay, and I was a baseball player. I grew up playing baseball. That's all I did. And between 10, 12, and 13 years old, you actually get three different bats. You get a small barrel with a weight limit, you get a big barrel with a weight limit, and then a big barrel with a lesser weight limit. So you have to get three new bats three years in a row. And I got on eBay, and I found this site, and I was like, I wonder if I could sell this TPC slugger my mom bought me last year. And $179 later at an auction, and $40 shipping and handling because everyone was stealing money on shipping and handling back then. I sold this bat, and I made like $220. I was like, holy shit, I was like, everyone has all these bats. And I ended up having a deal with the UPS driver. They would drop off the triangle boxes at our house every Tuesday and Thursday that fit bats perfectly. It had a bubble wrap, had a little printer machine in my house that would print out all the shipping labels, had a PayPal account in my dad's name because I couldn't even have a credit card. And I would end up asking all my friends if they didn't want their bats anymore that their moms bought them the year before. And everyone's like, I don't want that bat anymore, I'd sell it to you for $20. And I had this entire bat business. And it really just the ability to like talk to anyone in the world and the power of the internet for doing commerce and communication and the messaging feature on eBay, you kind of negotiate, people are always asking you questions, doing customer service. And, you know, I was 13. And to just think back to how I grew up in this tiny town called Bartonville, Illinois. And, you know, I had nine kids in my graduating class. I lived in the middle of corner fields. And the internet really was this like vehicle for opportunity and to meet people that I never thought I could meet. And so I did that for a few years and it ended up being a pretty cool business for being, you know, young and trying things on the internet. And when I got into college, I was at this little college called Western Illinois University. In 2005, I started trying to build, I taught myself how to code a little in college and I started trying to build a script that would pull Facebook photos right when the Facebook dot com launched and LinkedIn photos and put them on top of email addresses. And that really led to me trying to make email more social, but I didn't know it wasn't called social back then. It was just photos from the Facebook and make it more human. I was like trying to see who I was talking to because at the time offline and online didn't really exist. You didn't really meet anyone in the real world who you met online. Online dating was huge stigma. Facebook was kind of new. And so aggregating information about people who you really knew and pulling that together was kind of a foreign concept. And I was just doing it because I was curious about humans and I was just curious about who's this person I'm emailing and what do they look like? And so I was kind of just piecing it together in a simple way that led me in 2007 to meet someone on Twitter who was in Seattle and this guy, TA McCann, he was like asking me about this thing I was building. What are you doing? I started looking what he was building. He was doing a company called mind box and it was about mining your email inbox to find information about anyone you've ever met. And if a year ago I met you, we emailed and then today you had news about you. It would be like, Hey, Shane Adams in the news today. You should follow up and say, you know, Hey, congrats. You're in the news. And at the time, you know, I didn't really know anybody with news about them because in college no one has news about them. I didn't know how business worked. I was like, I don't know. I don't really have news, but I have social data. People are posting stuff on their wall and they have photos and can tag people in photos. And this Twitter thing was kind of happening. And so it was interesting. I started pulling Twitter photos into the little thing to put on top of email and he was like, social data on top of email is the future. And you'll get to know more about who you know in business and you'll have a single identity every around person. And he kind of really saw the future. He was 20 years older than me. And I just was like trying to see a face on top of a Gmail address really. And so we talked for a while. I kept giving him feedback about his product and that ended up being like this relationship that changed my whole life and trajectory. I didn't even know what a startup was. This guy, TA, was like, why don't you come build a startup? Like, well, let's just go build this company. We should go do it. Be like a social CRM. I didn't even know what a CRM was. And we went and built Gist .com, G -I -S -T. It was the first like social CRM ever. And we grew it from zero to a hundred million people in under two years. I think it was one of the fastest growing social products back in the day. And it was that era where, you know, the Twitter founders and Facebook and everyone, they were like, what can you do with this API? What can you do with this social data? See if you can do anything cool with it. Like there was no price. There was no real rules. It was a very like optimistic moment of social media. And I was just so inspired to be able to connect with anyone in the world. And I had met this guy named TA McCann and I, how am I like getting to work with him? I moved to Seattle and long story short, he ended up working for Paul Allen, the founder of Microsoft. That's whose inbox he was mining. And Paul was our first million dollar check. Brad Feld led our little A round. We got acquired by Blackberry for $50 million two years later. And I, you know, those kind of like moments or people you meet from just interactions online always led me to just believe so much in the power of the social internet, the power of messaging, communication, et cetera. And once I got there, Blackberry, I got to see BBM. And when I saw BBM, Blackberry messenger, that really was the moment where it all clicked for me. I was like, messaging is the future. It is how all interactions should happen. The phone should be messaging. The way I talk to businesses should be messaging. And like, why doesn't the world work that way? And, you know, through a lot of reasons, Blackberry messenger died and Blackberry kind of collapsed as the iPhone had a rise. WhatsApp happened. BBM didn't leave the Blackberry platform. And ultimately, WhatsApp, you know, became the messaging platform globally. And iMessage and iPhone became the OS and Android and messages on Android is also a massive application. And so the next 10 years, I was CEO of a company called Assist, which was business messaging. We were the first company to launch businesses being able to talk to customers and do bots and automation on top of Facebook Messenger, WhatsApp, Apple Business Chat, SMS, et cetera. So the whole messaging wave of the last 10 years. We got acquired in 2019. And I, during that lockup, you know, I had been in San Francisco for over 10 years. And a lot of my friends were working on crypto. I had actually met this guy named Adam Draper on a train ride from San Francisco to Palo Alto in 2011. And Adam told me about Bitcoin. And I have this moment, there's a bunch of tweets about it because we've talked about it online a lot. He tapped me on the shoulder actually. And he said, Hey, is this you? And it was a photo of me and this guy named Jeff Morris on Path, this old social network. There was like a private social network back in 2011. And he's like, is this you? And I was like, yeah, it's me. He goes, that's my buddy Jeff you were with last night. And I didn't even know who Adam was. And I was like, oh, that's cool. It's good to meet you. What are you working on? He's like, I'm starting this new fund. We're investing in Bitcoin companies. And I was like, wow, what's that? What's a Bitcoin? And for the next hour, he told me about how Bitcoin either will be a really nerdy science experiment or something that changes the world. And it wasn't until you have someone like Adam and his conviction and his belief that gives you the belief to just believe in Adam. Like I didn't really know that much, but I was like what he's working on and someone like that. And I think that was the coolest thing about San Francisco is being around people working on the future who truly understand it and believe it. And that moment kind of really opened my eyes and I became more curious about it. Probably five, six years later when the Ethereum movement kind of happened, a lot of my friends I knew and developers I knew started working on top of blockchains. And so I'd always been curious about kind of Web3 and crypto. But I was building a company, so I didn't really have a lot of building or anything in it. And I was focused on how do you do secure messaging and how do you do messaging for consumers and brands and build a platform for that. And then in 2019, when we got acquired, I was talking a lot to Matt and Matt and I lived next to each other in San Francisco for 10 years. And we also grew up living next to each other in tiny towns in Illinois that we didn't know we were we didn't we didn't even know we lived in when we lived there. And we found that out later in SF. And he was like, look at what's happening around DeFi and the Robert Leshner, the founder of Compound Labs, he was like, I have 11 billion dollars in a smart contract.
A highlight from 1376: This Will Send Bitcoin to $1,500,000 - Cathie Wood
"In today's show, we're going to be breaking down the latest technical analysis, as well as Michael Saylor, MicroStrategy and Bitcoin, three years after, now at 153 ,000 BTC on their balance sheet. We'll also be discussing Bitcoin's secondary scare now playing out, warrants top analyst Benjamin Cohen. But how low will the Bitcoin price plunge? We're going to be discussing that. As well as one catalyst which can trigger the Bitcoin price to explode by more than 450 % predicts fund strats. Tom Lee will also be discussing rich dad Robert Kiyosaki predicting Bitcoin rising to a million dollars per coin and gold hitting 75 ,000 while silver hits 60 ,000. If the world economy crashes, we'll also be discussing Cathie Wood confirming her one and a half million dollar Bitcoin price forecast for the king crypto. 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 rumble channel at cryptonewsalerts .net. Again that's cryptonewsalerts .net. With that being shared fam, welcome everyone. This is podcast episode number 1376. I'm your fearless host JV and today is stacking Saturday, it's August 19th, 2023. Let's kick it off with our market watch as we do each and every day. We got Bitcoin still in the red unfortunately, but maintaining that 26 ,000 support. We have Ether and many of the alts back in the green, but barely after one of the biggest bloodbaths we have experienced in several months, we have Ether maintaining 1600 and it's just above one trillion. So the entire crypto market cap right now is only a trillion dollars. Isn't that insanity? Now there's 26 billion in volume at the past 24 hours with Bitcoin dominance currently at 48 .1 % with the Ether dominance at 19 % even and checking out the top 100 crypto gainers in the past 24 hours, we have SUI up about 16 % trading at 55 and a half cents, followed by Hedera, HBAR up 11 and a half percent trading at six and a half cents, followed by AKT up 11 % trading at $1 .55 and checking out the top 100 crypto gainers for the past week. Finally, we have many of the alts back in the green, but we have to keep in mind the massive bloodbath with over a billion dollars worth of liquidations practically in the past 48 hours. So naturally a lot of these altcoins are bouncing back after 20, 30 % losses and checking out the crypto greed and fear index, we're currently rated a 39 still in fear. We were in fear yesterday at a 37 last week was a 54 neutral and last month a 56 in green. Greed. So there you have it. How many of you have taken advantage of this recent dip? Please do let me know. BTFD and Staccanem Sats, dollar cost averaging is the name of the game, especially if you're in this for the long haul and also want to ask you where my long -term hodlers at, make some noise in that live chat. Now we're going to do our technical analysis a little bit different today. Why not try something new? And yes, I got some color to my skin because I spent the day at the pool here in Puerto Rico yesterday with my daughter and it feels good. Soak it in those sun rays, free vitamin D, D3. Why not take advantage of it? But anyways, now let's break down our technical analysis. I'm using trading view today. You should be able to see this on your screen. Let me know in the comments. We're going to do the one day right now. It's a sell signal. Sell says 14 neutral is a seven and a buy is a five and you're going to check out these oscillators right here. It says buy and then you have the moving averages is a strong sell signal. You're going to see why here in a moment. Let's start with the oscillators, which you should be able to see on the left on your screen right now. Relative strength index we commonly cover, which is the RSI is a buy signal. The commodity channel index is a buy signal. The momentum indicator is a buy signal. The MACD is a sell signal. The Williams percentage range is a buy signal. We got some neutral signals, but let's check out these moving averages. Check it out. Sell, sell, sell, sell, sell. Everything virtually says sell for moving averages except the whole moving average. I'm not even familiar personally with that metric, but all the major ones, the exponential, the simple moving average, et cetera, all in the sell zone. Very interesting to say the least, but I want to know how many of you took advantage of this dip or are you expecting and anticipating the Bitcoin price to drop even lower? If you're one of those expecting a lower drop, how low would the Bitcoin price likely go? Let me know your honest thoughts in the comments right down below. With that being shared, now let's break down the latest with Michael Saylor and MicroStrategy because it was exactly three years ago today he got his infamous Bitcoin position and now today they hold over 153 ,000 BTC on their balance sheet, which is no joke. Some say when Bitcoin hits new highs, Michael Saylor is going to be amongst the richest persons in this world. That wouldn't surprise me whatsoever, especially with his attitude of there is no second best and continuing to accumulate Bitcoin and never selling, he said, for hundreds and hundreds of years to come, so we shall see how that plays out. All I know is Michael Saylor and MicroStrategy is the smart money, Cathie Wood is the smart money, and I like watching the smart money and not listening necessarily to what they say, but more importantly, always watching what they do. I'm watching you. You know what I mean? Anyways, fam, let's break it down. MicroStrategy's co -founder and executive chair, Saylor, who served as the company's former CEO for over 30 years, continues to remain bullish on Bitcoin three years after his publicly traded business intelligence company decided to make its first Bitcoin purchase. That's right. If you missed the memo, Michael Saylor, his company MicroStrategy was the first publicly traded company to put Bitcoin on its balance sheet. Saylor also made a big price prediction for the asset, believing it could exceed a million dollars per coin. I say that's conservative because I've covered Michael Saylor predictions here on the show of him talking about a $14 million Bitcoin price. Real talk. Now, MicroStrategy made history and headlines. It was August 11th, 2020, virtually three years ago after becoming the first publicly traded company to purchase Bitcoin. The firm initially hinted back in July of 2020 about its plans to invest in assets such as Bitcoin or gold rather than holding cash as a way to escape inflation, with the company later deciding to buy Bitcoin worth a quarter billion, 250 million, and adopting it as a primary treasury reserve asset. And how many of you remember the infamous quote where he compared keeping cash on the balance sheet as a melting ice cube? I'll never forget that personally. And according to Saylor at that time, who was MicroStrategy's CEO, the decision to go for Bitcoin was made because of the crypto, served as a better hedge against inflation and had a higher return on investment compared with other assets. Now, that purchase marked the beginning of several investments amid the crypto's volatile price movements, causing the company to hold a large Bitcoin stash. And in June of 2023, Saylor announced that the business intelligence giant bought 12 ,333 more Bitcoin for $347 million, making it one of the company's largest purchases in a single quarter since second quarter of 2021. And as of July 31st of this year, MicroStrategy officially holds 152 ,800 BTC, which the company said was purchased for roughly $4 .5 billion at an average price of $29 ,672 per BTC. Now the business intelligence software firm is the largest corporate holder of Bitcoin. Besides corporate holders, we have the Grayscale Bitcoin Trust, and they literally control over 400 ,000 BTC, just FYI. Meanwhile in a December 2022 SEC filing, MicroStrategy revealed it sold 704 Bitcoin to generate tax benefits. The sale was a first for the company with the action contrary to the previous statement by Saylor, who said that MicroStrategy would never sell any of its stash. Now Saylor is known as one of the biggest Bitcoin supporters and has continued to promote the asset as far superior to gold, which is fact, calling it digital gold. However, he has not always not been pro Bitcoin. I mean, there was a time it was actually against it. There's an infamous tweet dating back to 2013 stating it would suffer the same fate as online gambling. Meanwhile, online gambling seems to be soaring and thriving better than ever before. And the same thing with Bitcoin. Go figure. Even not a rocket scientist can be right every single time, right? But Saylor's view on Bitcoin has since changed and you got to respect he had the balls to change his opinion publicly. How many people like Peter Schiff refused to ever change their opinion, regardless of how wrong they clearly are. You know what I mean? Now the MicroStrategy executive chair in May of 2022 said the Bitcoin price can go into the millions per coin while stating it is the future of money. We know this is a fact. The following month, Saylor predicted Bitcoin price would skyrocket to a million dollars. And later in September of 2022, the exec said the crypto could be valued at 500 ,000 in the next 10 years if it matches the market cap of gold. And for context, Bitcoin's market cap is currently roughly 570 billion, while gold is currently estimated to be $12 .8 trillion. Now also, Saylor seemed to be unfazed by the ongoing enforcement crackdown on the crypto sector by the SEC, stating the regulators actions could benefit Bitcoin by boosting the asset's price and increasing its market dominance share to 80 percent. Could you imagine Bitcoin continuing to eat these altcoins kind of like Ms. Pac -Man? You know what I mean? I think it's likely to happen in just a matter of time. And Saylor, who served as the CEO of MicroStrategy for 30 years, left his position in August to become the company's executive officer, with MicroStrategy president Fongli serving as the CEO. The American business exec explained that his new role will help him better focus on the firm's Bitcoin acquisition strategy and related Bitcoin advocacy initiatives. So there you have it. The man just wants to focus on stacking more sets. You can't blame him. Much power and respect to him. Shout out to Michael Saylor. If he is one of your favorite Bitcoiners, do let me know. And which one of your favorite Saylor speeches? One of mine is, there is no second best. There's Bitcoin. And you got Bitcoin. Shout out to Saylor. Anyways, fam. Now let's cover our next story of the day and discuss when do you feel the bottom will be in for Bitcoin? Do you think the bottom is already in at 15 .7 or do you think we have lower to go? Let's see what some of the top analysts have to say. This is Benjamin Cohen. Cohen tells his 800 ,000 YouTube subs the current crypto downturn is in line with a pattern that occurs every four years. Quoting him here. The idea behind the secondary scare in crypto comes from the fact the S &P 500 tends to get a correction in August for September of its US pre -election year. As we know, we have a big presidential election in the US next year along with that having. So if we were to look at the 2023, you can see the S &P is in fact getting this correction, which we talked about. The S &P 500 is down a little over 5 % since the start of this month. And according to the widely followed strategist, Bitcoin has plummeted by between 39 and 83%. During the previous secondary scares, quoting him here in 2019, once the secondary scare got underway, once we got below the 20 week moving average, right, or the weekly candle that led us below it, Bitcoin dropped yet another 61%. This one, 2015, was about a 40 or 39 % drop. Then in 2011, you had an 82 .5 % drop before we actually finally bottomed out in the secondary scare. In all three cases in the pre halving year, the S &P dropped in quarter three of the pre -election year, and then Bitcoin entered into a downtrend for a while. And we have three examples, one where we went down about 80%, one where we went down about 40%, and one we went down about 60%. So on how long Bitcoin could fall going by historical precedent, Cohen outlines three scenarios, quoting him again. If it's a 40 % drop similar to 2015, 40 % drop puts Bitcoin at $17 ,500, OK? That would be the lowest. This would basically correspond to his 2015 move that would put Bitcoin at $17 ,500. A 61 % drop, which is what we experienced in 2019, would put it at around $11 ,400. And an 80 % drop would put it much lower, which I will say, I don't think it is going to go nearly that low. And to watch this video he did entitled, Bitcoin, the Secondary Scare Has Begun, check the show notes below the video in the description. And what are your thoughts? Do you agree or disagree with the analysts? My personal thoughts, the lows are already in. They were in a long time ago at the end of last year. We hit that $15 ,700 level. I personally am very skeptical that we'll ever see a sub $20 ,000 Bitcoin price ever again. But I could be wrong in the same token. That's my personal opinion. Is that OK? I'm just telling you how I really feel. I think it's a great discount to take advantage of buying Bitcoin right now, considering the all time high in November of 2021 was roughly $69 ,000. So you tell me the math, where are we at, like a 60, 70 % discount from the top? Not too shabby. I would be stacking stats like there is no tomorrow versus, oh, let's sell my entire Bitcoin stash and buy it back at $15 ,000. What if you're wrong? We don't go sub $20 ,000 and you lose out on a massive position. That could happen as well. I don't like gambling. I'm in this for the long haul and there's nothing like the real thing, baby. And that's the fastest horse in the race. That's the king crypto. We call it VTC. And with that being shared, fam, now let's discuss an $180 ,000 Bitcoin price prediction by the one and only Tom Lee of Funstrat Global Advisors, managing partner Tom Lees, is one of the catalysts which can spur the Bitcoin price to hit. Six figures is going to be Bitcoin ETF approval. Let's break down this Bitcoin ETF, because that's what everyone is talking about right now, right? Quoting him here from this interview, he says, if the spot Bitcoin ETF gets approved, I think the demand will be greater than the daily supply of Bitcoin. And so the clearing price, this is done by Sean Farrell, who is our crypto digital strategist, is over $150 ,000. It could even be like $180 ,000 per coin. A spot US because a spot Bitcoin ETF is approved outside of the US. When they asked him, do you think there will be a spot Bitcoin ETF? And with Bitcoin currently trading at what, roughly $26 ,000, that means he's predicting an appreciation between 467 % and 580%. Let's go send it. Now, on Bitcoin's likely price action, if a spot Bitcoin ETF fails to win approval in the US, Lee shares the following, they're still upside because of the halving next year. Yes, so you have a drop in supply again, so the clearing price has to increase, but it won't be six figures. So he's ultimately saying if we don't get the ETF approval, we can still go to six figures eventually, but not as soon as we would anticipate with the approval of a Bitcoin ETF. So according to the Bitcoin bull, the Federal Reserve's monetary policy going forward will impact crypto assets, quoting him again from this interview. Crypto is dependent on monetary policy, so if inflation is cooling, then we can start to bet on forward financial conditions, easing, and the central bank easing sooner. That's bullish for crypto as well as alternative assets. To watch this video he did on this interview, inflation is on the glide path towards sub 2 % by the middle, check the show notes below the video in the description. Let me know if you agree or disagree with Tom Lee, virtually predicting that the Bitcoin price will likely see 150 and 180 ,000 per coin between that range coming up here in the near future. And again, I'm going to read everyone's comments out loud, so please let me know where you're from and any comments or questions, address them right now in the live chat. Now let's discuss Robert Kiyosaki, the famous Rich Dad Poor Dad author, and his $1 million Bitcoin price prediction, followed by the one and only Cathie Wood of ARK Invest with her doubling down on her $1 .5 million price prediction and how she got to those numbers, you know, dates, et cetera, and everything that comes along with it, and then we'll dive into our live Q &A. Massive shout out to Kiyosaki, Rich Dad Poor Dad was a very influential book in my young adulthood, which absolutely impacted me in a positive way. So give kudos and flowers when they are due. In a tweet on Monday, Kiyosaki explained that while he expects the price of Bitcoin to reach $100 ,000 per coin in the near term, he believes that it can soar to a million dollars, while gold will rise to $75 ,000, I take it he means an ounce, and silver trade at $60 ,000 an ounce if the world's economy crashes, noting, he has been saying for years, that gold and silver are God's money, while Bitcoin is people's money, and he also wrote the following, bad news, if stocks and bond markets crash, gold and silver skyrocket, worse news, if the world economy crashes, Bitcoin will rise to a million dollars, gold to $75 ,000, and silver to $60 ,000. Now would you consider this bad news? If the markets crashed and Bitcoin skyrocketed to a million dollars, that'd be the best news of my life besides the birth of my daughter, just saying. He added that us savers who hold the US dollar will be called fake money, they'll be in serious trouble, noting that the US national debt is way too high, preach. Kiyosaki often said that gold, silver, and Bitcoin are his preferred investments, emphasizing they are the best for unstable times, and following his warning about the global recession, he cautioned in May the world economy is on the verge of a collapse, the renowned author predicted in February the price of Bitcoin would hit $500 ,000 per coin by 2025, the year preceding the halving, and while gold will soar to $5 ,000 and silver will hit $500 during the same time period, he recently started saying that the price of Bitcoin would $100 ,000 this year in 2023, and $120 ,000 next year in 2024, which is the same prediction made by Standard Chartered Bank, and FYI, guess who is the primary shareholder of Standard Chartered Bank? You guessed right, it's BlackRock, and did you know that BlackRock owns even a large piece of micro strategy? That's right, so they're already indirectly invested into Bitcoin, just pointing that out. This week, he urged the investors to buy silver before it's gone, noting that it is more affordable than gold. Kiyosaki has been warning that the US economy is headed for a crash landing, he previously said that America is bankrupt and warned of hyperinflation, the rich dad author has been cautioning that a giant crash is coming for quite some time, many, many years, right? Moreover, he warned that the US dollar will die as the BRICS nations, which include Brazil, Russia, India, China, South Africa, and like 20, 30 plus other nations, plan to launch a common currency, and it's gonna be interesting to see how this plays out and what currency that they select. Could you imagine if BRICS adopted Bitcoin as their currency? Hmm, wouldn't that be a game changer? And also, there's other parts of the world right now with hyperinflation occurring in real time, I think Bitcoin is the only savior, just as it saved El Salvador, and if you translate El Salvador, it translates to the savior, go figure, could it be a coincidence? All by design. Let me know your honest thoughts, fam. And now let's break down our final feature story of the day, that's Cathie Wood of ARK Invest and her prediction of a one and a half million dollar Bitcoin price, send it and let's go, in a forecast case study released in February. Let me know if you can see the screen, I know the text is a little smaller on this particular article, but let me know in the chat, please. ARK Invest presented three scenarios for the crypto market until 2030. The bearish one suggests Bitcoin will just rise to 260 ,000. Not too shabby for a bearish scenario, send it, let's go, while the bullish one foresees a surge to one and a half million dollars per Bitcoin, and in the interview with Bloomberg this week, Cathie Wood said the team's confidence in the bullish scenario has increased. That's great, she's gaining more confidence, let's go. And as you can see outlined here, Bitcoin to likely scale into a multi trillion dollar market, you can see the bear case with a 2030 price target which shows 258 ,500 in this graph on the left, and then followed by that, the base case by 2030 represents 682 ,800 Bitcoin. I'd love that personally, I love all these targets, but could you imagine Bitcoin really hitting 1 .48 million, virtually 1 .5 million by 2030 in a bullish case, I most absolutely can see that happening. Wood believes Bitcoin will continue to establish itself as an insurance option against inflation. And that everyone will want it at the end of the day. Cryptos protect wealth from outright confiscation, great point, inflation and the risk of loss to third parties when stored or transferred. With the adoption of cryptos and the regulatory and legal framework in place, interest in Bitcoin will grow exponentially, I agree 100%. The SEC being flooded with applications right now to launch Bitcoin ETFs clearly indicates the same. ARK Invest teamed up with 21 shares and applied documents ahead of investing giant BlackRock, so they're actually first in line. The SEC has accepted this and other submissions as indicated in public records. A decision is due on 13th of August, but unfortunately, that decision ultimately shared that they were going to push back the decision now until I believe the first quarter of 2024. So sadly, there will be no Bitcoin spot ETF approvals anytime soon this year in 2023. That's the bad news. But some experts agree that BlackRock's participation increases the chances of a positive outcome existing crypto funds have already experienced an influx of capital from institutional investors not seen since quarter four of 2021 when we hit that all time high with over 700 million dollars invested into Bitcoin in just four weeks. So there you have it. And also, you can see here Bitcoin spiral for your cycle and you can see it shows you the bottoms, the halvings, and this is actually a pretty cool chart in this cycle with a record in 2026 Bitcoin will reach the maximum in the range, which is one hundred thousand to a million. I know that's a very wide margin and kind of the same as Stock the Flow model creator Plant B predicting Bitcoin being somewhere between one hundred grand and a million dollars after the halving. And in the next cycle, with a peak in 2030, the price will range from one million to ten million dollars per coin. Well, if you'd like to see a ten million dollar price action, let's freaking go. Now it's currently unknown whether the ARK Invest team was guided by the theory of cycles, but potential investors should consider that forecast and mathematical models give only a idea conditional of further changes. So there you have it, fam. How many of you are in agreement with Cathie Wood of ARK Invest that we likely to see that million dollar Bitcoin price or even above one and a half million by the year 2030, which is roughly seven years out? Let me know your honest thoughts in the comments right down below. And don't forget to check out CryptoNewsAlerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
A highlight from 1370: Why You MUST Own at least 1 Bitcoin - Jack Mallers
"Welcome, everyone. In today's episode, I'm going to be breaking down the latest technical analysis, as well as MicroStrategy marks three years of holding Bitcoin with four and a half billion dollars in Bitcoin and company stock, literally up two hundred and ten plus percent. We'll also be discussing PayPal executive says that their new stablecoin will be made available for DeFi in the future, as well as Bitcoin as a ticking time bomb set for historic expansion, as rare indicator sends a signal. I'll be breaking this down for you. We'll also be discussing breaking news of fun. Strad investor note says Bitcoin can hit one hundred and eighty thousand dollars before the upcoming block reward, having scheduled for April of twenty twenty four. We'll also be discussing the top reasons why the Bitcoin price will smash a million dollars per coin, as well as why you must own at least one Bitcoin right now. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. 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 rumble channel at CryptoNewsAlerts .net. Again, that's Crypto News Alerts .net. And welcome, everyone. Just tuning in. This is Pod episode number thirteen hundred and seventy. I'm your host, JV. Today is August 13th, twenty twenty three. Kicking off today's episode here with our market watch, we can see Bitcoin still holding strong onto twenty nine thousand four hundred, but slightly consolidating for the day. We also have Ether barely back in the green, trading above eighteen hundred and fifty dollars, along with BNB and XRP also in the green. And checking out CoinMarketCap .com, the current crypto market cap sits at one point one seven trillion dollars, with about 17 billion in volume in the past twenty four hours, with the Bitcoin dominance at forty eight point seven percent and the Ether dominance at eighteen point nine percent. And checking out the top one hundred crypto gainers in the past twenty four hours, we have room lead in the pack up twelve percent, trading at a dollar thirty seven, followed by a ton up about seven percent, trading at a dollar forty three, followed by Pepe up four and a half percent and checking out the top one hundred crypto gainers for the past week. Mostly, I'd say we got a few in the green, but also probably equally as much in the red. Some of the biggest losers include Koss and Bone, with some of the top gainers for the day, the same as the week with Tun, Rune and Pepe. And checking out the Crypto Greed and Fear Index, we're currently rated a fifty four neutral, same as yesterday. Last week was a forty nine and last month was a sixty in greed. So there you have it. How many of you are currently bullish on the king crypto and have been taking advantage of this recent dip? Let me know in the comments right down below. And now let's dive into today's Bitcoin technical analysis and see what's happened with the continuous sideways trading action. Most of the alts are also quiet today on Sunday, similar to how they perform yesterday on Saturday, except for Rune and Tun taking the lead. Now, the past few weeks went in a rather unventful fashion for typically more volatile crypto asset. This past Monday saw some movements as Bitcoin dipped below twenty nine thousand to mark the weekly low. However, it went on an offensive almost immediately and had surged past thirty thousand by the time Wednesday came. But that was short lived. More volatility was expected on Thursday when the US CPI numbers were set to come out. Yet that wasn't the case. Bitcoin remained at just under thirty thousand, where it had retrace hours just before that. And then the following days were quite stagnant. Once again, Bitcoin stood still within the same tight range of between twenty nine and twenty nine five. And expectedly, the weekend didn't provide anything different, given the typically lower trading volume. So there you have it. I mean, it's been very boring sideways trading action. Nothing new. But I feel once we can break thirty two, we're likely to continue marching on up, breaking the annual high. And there's not much resistance between thirty two and forty. So do keep that in mind as well. Now for the latest regarding the first publicly traded company to put Bitcoin on their balance sheet, which is MicroStrategy. They're still holding their four and a half billion dollars worth of BTC. Let's break this down. As you can see here, it's been three years since MicroStrategy first accumulated their BTC. Michael Saylor spearheaded the strategy of making Bitcoin their primary Treasury Reserve asset, directing the firm to buy twenty one thousand four hundred and fifty four BTC for two hundred and fifty million at an individual price of roughly eleven thousand six hundred dollars on August 11th of 2020. That's when it all began. Now, in the up and down years since MicroStrategy continued to consistently invest in the top crypto asset, becoming the largest institutional holder of Bitcoin. And as of July 31st, the firm holds one hundred and fifty two thousand eight hundred BTC acquired for a total cost of roughly four and a half billion dollars at an average individual price of twenty nine thousand six hundred and seventy two. So they're roughly at their break even point. Interestingly enough, now Saylor was MicroStrategy's chief executive when the company first bought Bitcoin, but now serves as its executive chair after stepping back from the CEO role last year. The MicroStrategy stock is up more than two hundred and ten percent since August 10th. So keep that in mind. And that since 2020, the day before it made the announcement to purchase Bitcoin, MicroStrategy is currently priced at three hundred and eighty four dollars per share, according to Market Watch. And it hasn't been an entirely smooth ride. However, keep in mind, MicroStrategy is down more than 70 percent from the three year high of eleven or one thousand three fifteen, which it hit on February 9th of twenty twenty one, referring to the stock right as Bitcoin was in the midst of that ascendant bull run. And in June of twenty twenty two, MicroStrategy faced concerns it would receive a margin call on a Bitcoin backed loan, though those fears never materialized and seemed to be nothing more than FUD. And in a margin call, a trader or investor is required to put up more funds to avert the closure or liquidation of a leveraged position. And I think when those FUD rumors were coming out, Michael Saylor said unless the Bitcoin price dips all the way to three thousand, we are not getting liquidated because they had more assets to back it. So it was nothing more than FUD at the end of the day. But very interesting. I think MicroStrategy will continue being one of the largest huddlers of Bitcoin in the world. They're second in line to Grayscale, which controls over four hundred thousand BTC. And at this time being there's no spot Bitcoin ETF in the United States. The next best closest thing is to owning MicroStrategy stock. And of course, Michael Saylor is very bullish on that. Now, let's discuss the latest regarding the PayPal stablecoin, which is titled PYUSD. They've been announcing some plans for DeFi. And we also had some analysts recently come out predicting due to the launch of the PayPal stablecoin because their audience is so large, hundreds of millions of people that use PayPal on a regular basis, active users, that it can send the Bitcoin price to a quarter million dollars per coin. That was a prediction from Charlie Shrem. I covered a few episodes ago. If you missed that, be sure to check that out. Now, an insider from PayPal says the firm's new stablecoin will ultimately launch on DeFi platforms sometime in the future. In the new interview on the Unchained Pod, Jose Fernandez, PayPal's senior vice president of blockchain, crypto and digital currencies, told the host Laura Shin that the firm intends for their stablecoin, which was launched earlier in the month, to be available on crypto exchanges and compatible with the DeFi ecosystems, quoting them here. I think DeFi will be a part of the first wave in the sense that we want to go where crypto users are using stable coins today and DeFi as a use case for that. So as of today, you can only get the PYUSD on the PayPal wallet. We are ramping up the product, but definitely the intention is that it will be available in the main exchanges. And when the distribution is available, then the folks will be able to use it for the traditional use cases. The Ponte goes on to share that their stablecoin is already compatible with Ethereum wallets as it is technically an ERC20 token, ultimately meaning on the Ethereum blockchain, and that it's fully backed in compliance with New York regulations. Quoting him again, the stablecoin PYUSD is an ERC20 token. It's deployed on the Ethereum blockchain and it can be sent outside to wallets that enable ERC20 tokens. Now, there is definitely an aspect of it that has to do with being fully backed and regulated as a stablecoin. As you know, we are issued out of New York. Paxos is the issuer and the token is approved by the New York Department of Financial and Security New York has very clear and strict requirements in terms of KYC, know your customer, and anti -money laundering provisions that require the ability to be able to have the right control in place. So there you have it. And to watch this entire interview, they did check the show notes below the video in the description. I will give you a little disclaimer. I do not trust PayPal as far as I can throw them. I had a lot of people ask me, where can I get the stablecoin? It seems currently only available on PayPal, but I wouldn't be holding it. I'd prefer the real thing, which is Bitcoin the only decentralized crypto asset because PayPal, just as they can freeze your funds and freeze your PayPal account. They've done that to me before in the past, probably like a decade ago back in the day. They could also freeze your stablecoin the same way because all it is is a digital version of the dollar. So that's not so enticing or exciting to me. But the reason it's fruitful and bullish for the entire industry, it can help usher in that mass adoption, considering PayPal has hundreds of millions of active use active users. That's why this is a pretty bullish story. But anyways, now let's talk about the ticking time bomb, followed by one hundred and eighty thousand dollar prediction from Fundstrat at the time of the halving less than nine months away. And then I'll be sharing the latest and greatest from the one and only Jack Mallers and why you should own a Bitcoin and why the Bitcoin price is trending towards seven figures. Let's break it down. And yeah, if you're just joining us, make sure to say hello in the live chat. Don't be a stranger, as this is a live and interactive show. But yeah, let's break this story down. As you can see, while he followed analysts as Bitcoin is gearing up for a historic move to the upside, now that has rarely seen the indicator has flash. This anonymous analyst known as Credible Crypto shares that Bitcoin is going through a period of record low volatility or a compression phase, which he says will ultimately lead to historic expansion. Send it. Let's go. He shares a chart, which you can see here, along with fellow analyst tech dev who points out that Bitcoin's three week chart is approaching compression levels that previously signaled the start of the bull markets since 2012. Quoting credible here, historic compression leads to historic expansion. Imagine looking at this chart and thinking, yeah, ten thousand dollars incoming, a ticking time bomb till bear extinction. BTC. That's what's up. Now, while many Bitcoin bulls have lost confidence due to the Bitcoin uneventful price action, credible says Bitcoin is simply consolidating, which should be considered bullish, quoting him again, seeing a lot of if we are so bullish, why aren't we moving up? The bulls don't have the strength to push the price higher. This is bearish. But when the price is moving sideways, it means that neither bears nor bulls are in the driver's seat. Consolidation is, by definition, neutral buyers and sellers have reached an equilibrium. Now, nine out of ten times consolidation structures resolve in the direction of the trend that preceded them. We have been in a very clean, obvious uptrend since fifteen thousand dollars. So by default, then one should expect this consolidation over the last month to resolve to the upside. And he continues, your default stance on Bitcoin here should be bullish, in my opinion, unless we start breaking bullish market structure. For example, the first and lowest timeframe level of the bullish market structure that matters is twenty four eight marked, as you can see here in this chart. So there you have it. How many of you agree with credible crypto aren't currently bullish, even though the price action seems boring and continues to trade sideways? Let me know your honest thoughts in the comments right down below, which leads us to our next story of the day. That's Fundstrat's prediction of one hundred and eighty thousand dollar Bitcoin price by the time of the next halving, keeping in mind that halving is scheduled to be sometime in April 2024, virtually meaning less than nine months away. Let's break this down and shut up to Tom Lee over at Fundstrat. So I actually shared this in a tweet here this morning. Fundstrat investor note says Bitcoin could hit one hundred and eighty thousand before the upcoming block reward halving in April of twenty twenty four. And also interesting, an Indian analyst thinks that World War Three had already begun expecting the BRICS economic bloc to merge with the Shanghai Corporation Organization. And also it is shared that the financial services company attributes this projected five hundred and twenty one percent Bitcoin price hike from the current levels to the rising demand fueled mainly by the anticipated approval of a Bitcoin ETF, which I know is on everyone's mind. We know there's literally hundreds of trillions of dollars in the total addressable market, much of which can be come in pouring directly into BTC. So let's break down some more of these numbers. Fundstrat's and Pharrell's projections follow the mid -July forecast from the banking giant Standard Chartered. And guess who is the primary shareholder of Standard Chartered? You guessed it, BlackRock fam. They predict one hundred and twenty thousand dollar Bitcoin price by the end of next year in twenty twenty four. Now, Pharrell's analysis points to a Bitcoin ETF potentially adding an extra hundred million dollars in daily demand. I honestly feel that is conservative, but hey, now why the impending halving will slash the daily mining rewards down to a mere twelve million, quoting them here with a spot Bitcoin ETF launch daily demand will reach one hundred and twenty five million while the daily supply is only twenty five million. The implicit equilibrium price would need to increase so that the daily supply matches the daily demand. Now, equilibrium analysis suggests a clearing price of one hundred and forty to one hundred and eighty thousand per BTC before the halving in April of twenty twenty four. And moreover, Fundstrat envisions the possibility for a BlackRock Bitcoin ETF to become one of the most monumental ETF launches ever. Let's go. Possibly outstripping the QQQ ETF's thirty six billion in first year inflows. I think we crush it personally. The firm is of the opinion that Bitcoin ETF assets might outshine precious metal ETFs one hundred percent. Now that's a market worth two hundred and thirty billion dollars and eventually become a category worth more than three hundred billion. That's a given, right? However, approval for a spot Bitcoin ETF could enable manipulation akin to allegations about precious metal ETFs like gold and silver. A physically backed Bitcoin ETF is expected to boost crypto adoption as well as the prices. There is a chance it could mimic the gold and silver and allowing leverage of fictional supplies Bitcoin to manage futures positions, a .k .a. through derivatives. Now, when the price rises too fast, this imaginary Bitcoin supply could be dumped to tamp the global prices down. But for a while now, Fundstrat has been prophesizing a leap into the six digit territory as far as the Bitcoin price action, though these bold predictions have yet to materialize. Also, keep in mind, back in May of twenty twenty one, David Grider, the firm's chief digital asset strategist, confidently asserted that the target Bitcoin price of one hundred thousand per coin remained intact. Send it. He further envisioned Ethereum scaling to ten thousand per coin, reflecting on the broader crypto landscape. Grider's perspective from two years prior foresaw the entire crypto economy accelerating towards a staggering five trillion dollar milestone. So there you have it. Let me know if you agree or disagree with Fundstrat and their analysts that the Bitcoin price is likely to hit that target of between one hundred and twenty twenty four. That Bitcoin halving in April of twenty twenty four, that would obviously be the calm before the storm. And could you imagine the BlackRock Bitcoin ETF virtually being approved pre halving? That's going to send Bitcoin to a whole new stratosphere, in my humble opinion. I predict that we hit the peak cycle high in twenty twenty five, just considering the history doesn't necessarily repeat, but often tends to rhyme. And I remember the Bitcoin halving of twenty sixteen. It was the year following in twenty seventeen. We hit the high for that cycle of roughly twenty thousand. Then like clockwork four years later from the twenty sixteen halving in twenty twenty, we had the next halving and the following year Bitcoin hit the current all time high of sixty nine thousand. Hence, I'm predicting a multiple six figure Bitcoin price by twenty twenty five. Let me know if you agree or disagree in the comments below. And like I said, I'll read everyone's comments out loud at the end of the show. And with that being shared, fam, now let's discuss our final breaking story of the day. Jack recently Mallers did a podcast episode on his new podcast, Shout Out to Jack. I transcribed it because I find it very valuable. He was also interviewed on CNBC and talks about how hyperinflation will send the Bitcoin price to a million dollars. So here's some of the highlights and my transcription from his interview I have to share with you and then we'll dive into our live Q &A. So here we go. Here's what Jack Mallers had to share in this interview. If silver is going to 1000 X, I will walk into my kitchen right now and I will melt all of my silverware and I will sell it at market. If gold is going to rally, Elon Musk will find more on Mars. This is a super important point. Bitcoin is the only monetary instrument in the history of our species that is fixed. It does not matter how much more demand comes into the asset class because no one will ever be able to make more than it. There are two things I can guarantee you in my life. Number one, that I'll die. And number two, there will only ever be 21 million Bitcoin. And those are the two things that I could only value, which is my life and my Bitcoin. So it is the only fixed supply asset. It is not that complicated. It's going to go up because everything else can be issued more. The only thing that is clear to us and clear to our customers is that you cannot hold and save in dollars anymore. I think there is going to be a new era of the US dollar where inflation will enter and normalize 5, 6, 7, 8, 9, 10 percent. The days of 2 percent inflation are over. The Fed really blew this thing up. You can call it inflation because the CPI is low to nonsense, right? Like the government is going to tell me how the dollar is inflating based upon a basket of instruments like my Netflix subscription or my Caesar salad doesn't actually tell me how well the dollar is doing or how much it's being devalued. Miami real estate does. Bitcoin does. Bitcoin is up over 50 percent this year. You're telling me the dollar isn't inflating. You're out of your mind. I am not listening to that. The Fed and the whole monetary system is based on trust and they constantly, they constantly break that trust. Preach. It would be the equivalent to there's a fire outside of my house. I smell the smoke and someone tells me, no, no, no, no. It's a bunch of teenagers putting on a bonfire. OK, but I hear one police siren. Are you sure it's a bonfire? Yeah, yeah, yeah. It's a bonfire. Now I hear 10 sirens, 100 sirens. My whole community is running out. I'm not going to get up and look outside the window and see what's going on. I don't believe them for a second. You have to be absolutely crazy to believe the Federal Reserve right now. They are full of it. And I don't have to because I own Bitcoin. There is no one that can deflate my instrument. I get to hold it, save in it. I know the monetary policy. I sleep like a baby, like the baby face that I am. I think you are crazy to believe the Fed and these swap lines and treating these assets at par. It is a gimmick. It is a scam. Very powerful words coming from Jack Mallers. Let me know if you agree or disagree. And as you can see, this post is going viral over on X. So be sure to share it and repost it. I greatly appreciate that. Now for some other thoughts regarding predictions coming from Jack Mallers as well. When he was speaking with CNBC's Power Lunch with Kelly Evans, the strike CEO discussed the role of Bitcoin in the ongoing banking crisis. And Mallers is convinced that the Bitcoin price will hit one million dollars per coin fueled by global hyperinflation. According to Mallers, the Fed has tarnished its name by printing more money to save the banking industry, despite claims to reduce inflation to 2 % as I just shared with you. And as such, Mallers expects the Bitcoin price to continue with higher demand and Mallers reiterated the fact that there will only ever be 21 million Bitcoin units, despite the increase in demand. Now, notably Mallers bashed the altcoin industry for being centralized with founders holding massive coins at the expense of the secondary market. And as such, Mallers thinks that altcoins are suitable for speculation and should ultimately be used to accumulate more BTC. Quoting him again here, my overall opinion is that the name of the game is to accumulate as much Bitcoin as possible. The alts are interesting, but a lot more speculative. I use them to accumulate more BTC. So there you have it. Let me know if you agree or disagree with Jack Mallers and his thoughts, what he had to share. Do you think that global hyperinflation will likely send the Bitcoin price thriving to seven figures per coin? Let me know your honest thoughts in the comments right down below, and don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in the live Q and A. And I look forward to seeing you on tomorrow's episode. HODL.
A highlight from 1368: Michael Saylor - Should We Trust BlackRock with Bitcoin?
"In today's show, I'll be breaking down the latest technical analysis as Bitcoin trader reveals important Bitcoin price zone as the bulls hold on to $29 ,300. Also breaking news, Sam Bankman free jailed for tampering with evidence. I'll be breaking down all these recent details just announced as well as the SEC punts on ARK 21 share spot Bitcoin ETF as well as PayPal US dollar stablecoin will have a massive impact on Ethereum. We'll also be discussing one catalyst which can trigger the next upward move for Bitcoin predicts Glassnode co -founders as well as Michael Saylor predicting that BlackRock Citadel Fidelity will send the Bitcoin price to a million dollars per coin. Also Michael Saylor, who was recently interviewed by Natalie Brunel on the Coin Stories pod was asked, should we trust BlackRock with Bitcoin? You'll be surprised to hear what he had to say. We'll be discussing 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 rumble channel at cryptonewsalerts .net again that's crypto news alerts .net and welcome everyone. Just joining us the pod episode number 1368 I am broadcasting simultaneously right now on YouTube and rumble. Make sure to make some noise in the live chat. Let's kick off today's show with our market watch. We can see many of the cryptos currently correcting back in the red. We got Bitcoin trading at roughly $29 ,300. We have ETH down a quarter of a percent trading at $1 ,842 and checking out coinmarketcap .com. The current crypto market cap sits at $1 .17 trillion with $23 billion in volume in the past 24 hours and checking out the top 100 crypto gainers for the past week. We can see a mix of C, you know, red and green. We have some of the biggest losers including Hex and XDC and GMX with some of the top gainers Shiba and Rune and checking out the crypto greed and fear index. We're currently rated a 51 which is neutral. Yesterday a 53, last week a 54 and last month a 64 in greed. So there you have it. We have Bitcoin facing a new battleground as the bulls and bears fight for control of a sideways market and part of his latest analysis on August 11th, Dan Crypto Trades flagged the key level to reclaim the Bitcoin price support and with Bitcoin price breakouts continually failing both the Bitcoin bulls and bears are caught in a strongly contested range. This is the culmination of various trips above and below the current spot price making the midpoint the level to watch out for next. Now the status quo has recently remained the same since mid -June 28 .5 as fundamental support 31 ,800 as resistance and quoting him here, pretty clear that the 29 .5 to 29 .7 region is an area that is strongly contested by the bulls and the bears. It's an important area to keep watching and an accompanying chart showed Bitcoin nonetheless fighting to return to above that range low with little significant historical support lines between 28 .5 and 29 .5. Now the analyst thus ties in other perspectives from recent weeks. These likewise focusing on 28 .5 or slightly lower as a downside target and focusing on the short term Bitcoin price events fellow trader Sku highlighted just how frantic the mid 29 zone currently is for Bitcoin quoting him here, Bitcoin and now they're puking the bag. Now also continuing Sku described the spot price action on the four hour timeframe as we despite holding above various exponential moving averages as he shows here, tight price compression here, likely a 5 % plus price reaction is coming from here. So there you have it. And now for some breaking news which just came in right before I decided to go live and that Sam Bankman freed his, I guess his, what is it called? His bail was revoked and he was sent to jail for allegedly tampering with evidence. So let's discuss this as there's so much breaking news coming in. Exciting times. So here we have it. Sam Bankman freed jailed for tampering with evidence. United States district judge issued the ruling Friday afternoon on prosecutors request to revoke SPF's bail after they accused him of trying to intimidate a witness and a run up to his trial. Freed was previously serving house arrest in his California home. The freed use of the private VPN while on house arrest was also brought into question. Prosecutors say that freed shared confidential documents belonging to Caroline Ellison with the New York Times. This activity was part of an ongoing media strategy at the ruling judge said that all things considered, I'm going to revoke his bail. Bankman freed who has pleaded not guilty to multiple conspiracy and fraud charges is set to go to trial in October. His case is widely regarded as one of the biggest cases of fraud in US history. You can't make this stuff up, folks. How many of you are actually pretty excited on this news seeing Bankman freed's, you know what I mean, bail be revoked and be sent to jail? Let me know your honest thoughts in the comments below. As more news comes, I'll be sharing it all for you to keep you up to date with what is happening if anything new comes in. And now for our next breaking story of the day, it's the SEC punting the ETF of ARK 21, which is Cathie Wood of ARK Invest. We'll be breaking this down, followed by the latest with PayPal and the stablecoin, all the latest news surrounding that, followed by what's likely Bitcoin's next big move. And we'll also be discussing the one million dollar price prediction from Michael Saylor, as well as Michael Saylor's thoughts on BlackRock. And if he trusts BlackRock with Bitcoin, it's very interesting to hear his response to Natalie Brunel when he was recently asked this question on the Coin Stories pod. And of course, we'll be ending the show with our live Q &A, which we do each and every day. So yeah, now let's break down this next story of the day and shout out to everyone out there in the live chat. Much love, much respect. The US SEC has delayed a decision on approving or disapproving the spot Bitcoin ETF proposed by ARK Invest. And in August 11th notice, the SEC opened the 21 day comment period for the ARK 21 shares Bitcoin ETF to the public following a publication in the Federal Register. The latest delay for the regulator determining whether to approve or disapprove a spot crypto ETF in the United States. Now ARK originally filed to list ETF back in May, giving the SEC a maximum of 240 days, which would be until January of 2024 to reach the final decision. Quoting them here, the regulated market of significant size test does not require that the spot Bitcoin market be regulated in order for the commission to approve this proposal. The precedent makes clear that an underlying market for a spot commodity or currency being a regulated market would actually be an exception to the norm. Now ARK Investment Management is one of the many firms in the US applying to get a spot crypto ETF listed on a regulated exchange. We also have BlackRock, the largest asset management firm in the world, notably sent in its own application back in July. And a number of other firms also amended existing apps to include crypto exchange Coinbase as a surveillance sharing partner following reports that the SEC officials could be more open to accepting an ETF under those conditions. So there you have it. In a previous episode, we discussed, I believe it was Novogratz, predicting that a spot Bitcoin ETF is likely to get approved in the United States within the next four to six months. What are your thoughts? Do you think it's likely to be approved potentially this year or first quarter of next year before the Bitcoin halving scheduled for April of 2024? Let me know your honest thoughts in the comments right down below. And now let's break down our next story of the day and discuss everything with this PayPal stablecoin. Even Charlie Schramm is bullish. He said this can send the Bitcoin price to $250 ,000 a lot sooner than anticipated. But it all could also obviously impact the rest of the crypto market, including Ethereum. Bloomberg Intelligence crypto market analyst Jamie Kautz predicts PayPal's new stablecoin will have a huge impact on Ethereum. Kautz says that there is a massive growth potential for Ethereum, even if just a small percentage of PayPal's existing customer base adopts the stablecoin, which aims to keep a one to one peg to the U .S. dollar and is built upon Ethereum. Quoting him here, the PayPal announcement is not priced in. PayPal has four hundred and thirty five million active accounts versus Ethereum layer one and layer two active addresses at one million. If one percent convert a dollar balance to the PayPal stablecoin, which is P .Y .U .S .D., which would be four point three five million and begin to use it, then the ramifications for the Ethereum ecosystem and ETH, the asset are massive. I mean, numbers don't line as outlined here, you can see the current active users and addresses. Now, Kautz also said that the bullish he is bullish on layer one smart contract platforms after the expansion of layer two projects had less of an adverse impact on ETH's financials than he expected, as he shows here. The dual surprise of faster layer two adoption and less than expected cannibalization of the layer one financials has our confidence in Ethereum's potential to accrue more value than alternative layer ones over the cycle. The analyst says that each sideways price action doesn't tell the full story of all that is going on within the ecosystem, including network developments and increased Ethereum stake and quitting him again, flat price, mass and proven value accretion. Number one, network is back on growth trajectory, driven by growing layer twos and less severe monetary tightening. Number two, mostly deflationary, despite the bear market. And number three, despite cooling activity, ETH stake accelerated up 38 percent in just three months. And according to Kautz, ETH's accumulation is increasing during the stalled crypto market. As outlined here, while activity is down, investors are nonetheless demonstrating aggressive accumulation behavior. The total number of non -zero balance addresses exceeds 100 million, with over 1 .7 million wallets containing at least one ETH. Now, Kautz notices that each network is generating 3x the amount of revenue compared to the fourth quarter of last year, as shared here. Depending upon your framing, the dollar value of the network GDP slash revenue, while down significantly from 2021, has increased 3x from the fourth quarter 2022 low and is now outpacing the price. Layer one generates approximately 6 million in fee revenue per day. Eighty percent is burnt, which is a buyback, and the rest is paid to validators. So there you have it. Are you also bullish on the news of this stable coin coming out by PayPal, considering they have over 400 million active users, which can help usher in massive adoption for crypto, including the King BTC? Let me know your honest thoughts in the comments right down below. And now let's break down our next story of the day. And that's Michael Saylor, actually, before we get to Saylor's million dollar prediction and his thoughts on if he trusts BlackRock with Bitcoin, first, we've got to discuss the latest from Glassnode Analytics with the next big move for Bitcoin. So first, let's break this down. And again, say hello in the live chat. Let me know where you're tuning in from. And if you have any questions at the end of the show, we'll be reading everyone's comments out loud. The co -founders of crypto analytics platform Glassnode are forecasting that one catalyst can kickstart the Bitcoin next rally. Glassnode co -founders Jan and Jan, who share the handle, tell their 55 ,900 X followers that if the relative strength index indicator falls below 37, it can trigger a Bitcoin rally. Send it. The RSI indicator scales from zero to 100. And a reading of below 30 is typically considered bullish, while a reading of over 70 is typically considered to be a bearish sign. And according to Glassnode co -founders, there are potential buyers waiting below and around the 28 ,500 support level as shared here, Bitcoin's potential retest of 28 ,500 bottom indicated by the RSI. The bears are holding sway with RSI between 37 and 50. Sub 37 RSI can trigger a strong reversal and demand shows up between 28 ,500 and 27 ,800. Is this the catalyst for the next upwards move? Let me know your thoughts. Now, turning to alts, the Glassnode co -founders say that unless a surprise catalyst comes up, the alts are only likely to rally after the summer as they struggle amid a dip in the Bitcoin price as shared here. Despite Bitcoin's bullish move past 30 ,000 this week, will it continue? Altcoins struggle except for standouts like Solana. We have TonCoin and Hedera showing gains of 6 to 9 percent overnight. As Bitcoin dips, altcoins will feel the pressure unless the surprise catalyst emerges. We are waiting for that strong push, possibly post summer. So there you have it. Let me know if you agree or disagree with Glassnode analytics and how many of you are currently bullish on the King crypto. Let me know your thoughts in the comments right down below. And when do you think we'll break past the current annual high of 30? What is that, 32 ,000? Let me know. Do you feel it's likely to happen sooner than later, or do you think we could continue some sideways trading action until the end of this year? Let me know your honest thoughts in the comments right down below. Now let's break down our next story of the day. And that's Michael Saylor's one million dollar Bitcoin price prediction as a result of all of these recent ETFs, which can soon be approved by the SEC. Here we go. Michael Saylor actually shared this a few weeks back on the which one was it? The Altcoin Daily podcast. And I transcribed it for you so I can read it for you right here. Here's what Saylor had to say. It looks like a spot ETF will probably get approved. There is massive political pressure to approve one. The circumstances have changed and now there is a way for the SEC to approve it without backtracking on its previous legal and policy guidance. Certainly there has are a lot of Wall Street entities that have a vested interest in seeing this happen. If you're an institution, one way to get Bitcoin exposure is to buy the underlying asset. But there have been challenges with finding the right exchange to buy it on and custody arrangements. So a simpler way to do so simply by the spot ETF. There are trillions of dollars of capital that is required to invest in a security that trades in these compliant forums. And that is understating the obvious. There's tens of trillions of dollars. So there is a lot of capital that can't buy the Bitcoin or self custody of the Bitcoin. They don't want to do charter. Maybe it's against the tax code. Maybe when they raise 10 billion dollars from public investors, they raise it to invest in securities, but not interested in property or commodities. So the spot ETF availability is a major milestone for institutional adoption. The approval of a spot ETF is a major milestone in regulatory clarity, which is tantamount to an endorsement. The engagement of Fidelity, Citadel, Black Rob Schwab, I mean Schwab is synonymous with Wall Street, 100 years of Wall Street. So what you have is Wall Street coming together to offer securities and exchange services and indirectly custody services for mainstream investors. And if we look out about 12 months and if I was saying, what are the key milestones that drive mainstream Bitcoin adoption? Well one of them clearly is a spot ETF. The second is the designation that Bitcoin is an asset class, the recognition of it as a legitimate commodity. It's a big deal. When Jerome Powell says it's not going away, when Gensler and the head of the SEC and CFTC both say it's a digital commodity, digital commodity might not sound like much, but when you go down the next round, like is it a Ponzi scheme or is it a scam or tulip bulbs? The difference between tulip bulbs and digital commodity is a zero versus one. I have said before, and I'll repeat it again, if it's not going to zero, it's going to a million dollars. It is either nothing and if it's nothing, then it's getting scrubbed out and banned. And of course we now know that it's not getting banned. There is no way that Fidelity, Citadel, Black Rob, Charles Schwab, Deutsche Bank, Credit Agricole, Banco Santander, all decide they're interested in this. They are not endorsing a tulip bulb, right? Once you go from zero to one, then the question is, well, it's an asset class and if it's not going away, well, what's it worth? Well it's worth 1 % of the assets in the world. So 1 % drives it up by a factor of 10 to 20. So there you have it. Let me know if you agree or disagree with the Giga Chad and his $1 million price prediction, which I feel is inevitable, especially once that ETF is finally approved as there's literally hundreds of trillions of dollars in the total addressable market, which can start to pour into the King crypto. Now for Michael Saylor's latest from his interview on the podcast with Natalie Brunell when he was asked, do you trust BlackRock with Bitcoin? And Saylor had a very, very intriguing response. So let me break this down for you. Actually transcribed this just this morning and I posted it on crypto Twitter right here and it's already getting a lot of traction. So yeah, when he was asked this question, he responded, Bitcoin fixes everything. And if we think about what that means, we need to be prepared for Bitcoin to infuse everything. The right way to think about it, Bitcoin is going to be a base layer and there's going to be layer twos like lightning to move things fast. And there's going to be layer threes, which is custodial, like the cash app, like Coinbase, like Fidelity, JP Morgan, Bank of America, Apple, Google. There's going to be custodial layer threes and they're going to exist to provide functionality or utility. And there are technical reasons to trust a third party. The best way to think about Bitcoin is Bitcoin offers sovereignty and integrity and empowerment, not just to the individual, but also to the family, the clan, the village, the city, the country, I mean, the county, the state, the province and the country, the company, the institution, the agency, the group, the community organization, every one of these entities all have their own agency and we don't want them to not have access to this. Bitcoin makes your country better, makes your company better, makes your family better, makes your community better, makes your school better, makes you better. Preach is going to make everything better. But there's different types of rappers we need to put it in. So we shouldn't be afraid of those things. Someone said, well, aren't you afraid these big organizations are going to buy Bitcoin and centralize it? I said, it's like asking me if I am afraid that someone in Japan is going to speak English and if that's going to undermine the English language, if Samsung is the biggest company in Korea and they start speaking English and they build support for English into their products, does that corrupt the English language? No, it actually makes it much better. They are going to use it differently. What's the likelihood that Samsung can change the definition of love or change the meaning of 100 different words by adopting it? Not likely. So I think it's a protocol. The protocol is going to infuse everything and we shouldn't be afraid of all the different ways that people choose to integrate, wrap, embed or execute with Bitcoin. There is no one right answer and the marketplace will determine the right mix of integrations of Bitcoin. So there you have it. Very powerful words coming from the GigaChad. Let me know if you agree or disagree. I also get the point of what he is sharing, regardless if we can trust BlackRock or not. This is excellent for mass adoption. And I love that analogy and metaphor he shares with, you know, is Samsung the biggest company in Korea? And they started speaking English. Is that going to undermine the English language? Absolutely not. And the same thing with Bitcoin adoption. So shout out to the GigaChad. Michael Saylor also thinks that the SEC crackdown can boost the Bitcoin dominance to 80 percent. And I'd love to know your thoughts. Do you feel that this cycle, the Bitcoin Dom, can climb to 80 percent? Let me know your honest thoughts in the comments right down below. And don't forget to check out CryptoNewsAlerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
A highlight from What a Weird Week Show: I have had it with these snakes in the sky! Fri Aug 11th 2023.
"The What A Weird Week show for Friday, August 11th, 2023. Snakes falling from the sky. Hi, everybody, it's weird. This is like Crazy Moon healing. Really weird, weird tales. Well, I got a great show for you today. It was so wonderful. Weird stuff. Hi, friends, I'm Scott, and this is The What A Weird Week show, where we count down the top 10 weird news stories of the week. You can like and subscribe to our podcast. You can also get all the stories we talk about in more detail on the show notes blog. That's where we put all the links. And you can check us out on YouTube. One easy way to find all that is just show notes dot page. That'll get you back to all the stuff show notes dot page. Ten. Here we go. Season four, episode 46, first published Friday, August 11th, 2023. Number 10 is Mayor Caught Cocaine. Usually you'd think it would be Mayor Caught with cocaine, but we're talking about Mayor Jane Castor, Tampa, Florida. She has made the news this week after her office confirmed that she was on a fishing trip in the Florida Keys the other day and reeled in a 70 pound bundle of cocaine. Sometimes I'll refer to that illicit substance as cocaine. By the way, I slip in and out of it. I don't know what it is, you guys. The estimated street value of the cocaine was one point one million dollars. My question is, what are the odds that a mayor of a city you've heard of goes fishing in cocaine infested waters and reels in a big one? And follow up question. How much cocaine is in the water off Florida? Are you just as likely to catch cocaine as you are to catch a fish? These are some follow up questions we got to get into. Nine. Not today. No follow up questions today, but sometime when we have the energy. Let's circle back and get into that. Nine. OK, number nine, Bear Crashes Wedding. Congratulations, Kalen and Brandon. They made the news the other day after their Colorado wedding was crashed by a bear. High school sweethearts got hitched. That's nice, right? But if you really want to get on the news, love isn't enough. It took a bear in the wedding reception tent on top of the dessert table, eating everything that I wanted to eat. Nobody got to eat the delicious cannolis because of the lousy stinking bear. Very selfish. No one was hurt. Security asked the bear to leave. So the bear left without mauling anyone, which, you know, that's that's a bright note. A mauling can really ruin a wedding. There is video of the bear on the dessert table. If you want to check that out, click show notes dot page. Here's a bit of the news report. High school sweethearts got hitched near Boulder in the pouring rain and had to add an extra plates for a bear. There he is right there. Kalen and Brandon say the bear crashed their dessert table during the reception. God bless the news and you hard working reporters trying to keep one foot in the local what's going on with the local, the town council and another foot in the light hearted throwing to the weather person every so often when we got a thunderstorm watch. And then you get the bear story and you're like, OK, how do I balance this? We've just had the fiery crash story. And now the bear on the that that portly bear on the dessert table. Anyway, God bless you news reporters. And I'm not being facetious. That ain't easy.
A highlight from 5 Gaming Altcoins To Buy For 50x Gains (Opportunity Of A Lifetime)
"Crypto gaming was once the most exciting sector in crypto. In late 2021, it was home to the biggest gainers in the market with 1000x gains in November 2021. But ever since then, the market for crypto gaming has been slowly trending downwards. And we have reached a point where many crypto games look like on their charts they have completely bottomed out. So in today's video, I'm going to talk about where to now for crypto gaming. What does the future of crypto gaming hold? And I will discuss my personal thesis for crypto gaming and why I believe it is a sector that could be home to some of the biggest gains in crypto. And off the back of that, I'll be giving you my crypto gaming watch list for the altcoins that in the gaming space that I am personally accumulating that I believe could exhibit massive gains in the future. All of this video is going to be data driven. We're going to take a look at the gaming sector. And we're also going to take a look at the best approach for you as an investor to approach the gaming market. Is it DCing into gaming coins? Is it studios? Is it buying individual games? I'll be going through my personal approach and a strategy that I think is going to hold me in good stead to capture upside for this industry, which also takes up little time. Because I'm not the type of guy to be crawling through gaming discords all day. I mean, some of you may be. But for me personally, I'm a researcher. I'm a fundamentalist. I want to take a really data driven approach to investing in the gaming market in the most hands -off way possible. If you want daily hands -on gaming shows, of course, Hustle is our gaming host. So without further ado, let's get straight into the video. Just want to remind you quickly that our Bybit World Series of Trading Competition is now live. If you haven't signed up, we are currently ranked seven in the overall squads. Of course, as a banter fam, we want to get to rank number one. If we can get ranked number one, there's a $576 ,000 reward that is distributed amongst the entire squad. So even if you want the best trader and you don't win just for being a part of the crypto banter squad, you can potentially win a slice of the prize pool depending on where we finish. Currently, we're sitting between 7th and 10th. So that will be $120 ,000 to $168 ,000. But we were sitting at first ranked just a couple hours ago. Of course, this is super volatile because it's just launched. But we are in a 35 % profit right now. Maybe by the time you're watching this video, because I'm recording it a couple hours before we're premiering it, then we are sitting even higher on the ranking. So link in the description if you want to take part in the World Series of Trading Competition and of course win a slice of our banter prize pool. Good luck to everyone trading. I'm also going to be opening some of my own trades here on the show. But let's talk about crypto gaming, the major topic of today's video and a big topic in the market right now. So why is it a big topic in the market? Well, there's bad news and there's good news. The bad news why it's a big topic in the market and maybe it's good news if you caught the pump is because the YGG price absolutely exploded and then has also had a massive correction. And there was lots of talk about manipulation over YGG, which if you don't know is a gaming guild, a pretty famous gaming guild because some of the guys from Axie got involved and founded this project. Basically, they announced their season four is going live. This resulted in a huge price pump. But data did come out from our on -chain sources that a lot of the pump was manipulated. And we actually saw, despite YGG starting to hit new local highs, big investors. So these are people that invested potentially in the VC rounds, so the seed rounds for YGG and they were holding their tokens. These guys as their tokens unlocked and the price was pumping started to dump onto the market. So where it would be capital deposited one million YGG to Binance.
A highlight from TBGP #403 Baldurs Gate 3 Deep Dive, Starfield Future Thoughts, Telltales Future and Industry News
"What's up everybody? This is Karrick with ACG and I'm here with Johnny. Yes, just Johnny for the podcast, the best gaming podcast. I think we're at 403. We're going to talk about Baldur's Gate. We're going to talk about compact podcast today. Yeah, and I told Silver I didn't know when this was going to start because I ended up having a meeting scheduled in the last couple days and sort of spaced until this morning. So I was just like, oh damn, I got to I got to do this. I got to do this meeting. So I didn't know what everybody's gaming schedule was. And I'm always a little nervous to like, I always feel like I'm putting people out even though I know you guys like coming on and I like doing it, but it's like, it's just like it might be five minutes late. Should we just not do it? It's such a weird thought process. Thank you everybody for showing up fighting dog $2. Super chat. Imagine Larry and getting a hold of Star Wars or Kotor. Yeah, yeah, we'll talk about that because we've both been playing a bunch of Baldur's Gate or Baldur's Gate as somebody called it. We've been playing some tell tales which we beat. We're doing some remnant Rem and Nant to Rem Nant as I used to call it remnant to. We're gonna talk about Starfield's future. I want to say thanks to everybody who showed up in the last couple of days. Got 60 ,000 new subscribers. Absolutely appreciate it. Channels been booming and one of the major booms I was telling people the discord was the podcast. An old podcast caught on because it was Starfield discussion and it got like 40 ,000 subscribers from a podcast. I was like, what is going on? People, people loving their Starfield man. Our fields like the future now that Baldur's Gate's out, right? People just move on. I'm just joking. They're just done. 50 500 ,000 people were playing that concurrently. Baldur's Gate. Did you see that? Whoa, that's insane. Second only in history Hogwarts in total players playing it. That is that's that's it. Baldur's Gate and Hogwarts. Those the one the one two punch of, of top steam charts. Congrats on one million subs. Thanks. In recent years. Ever, bro. Ever. Yeah, in in two days. Well, in one day, two days, you could say technically, right? I think of total playtime two or three. When did that come out for you guys? Friday? Baldur's or yeah, Baldur's Gate. Yeah. When did that come out? Baldur's came out yesterday. Okay, so dude, in two days, 500 ,000 people playing that game. And by the way, it deserves a million. Just saying it. Let's say it's been smashed. Somebody says, be sure to smash that thumbs up. Thank you very much. What's up, Ginger Prime? Make sure to check out his podcast and his does a bunch of stuff and his videos and his freak outs about Final Fantasy coming to the Xbox. I saw that just a couple days ago. I didn't realize he had tweeted me about it because I turned off Twitter DMS for a little while or alerts because I was reviewing Baldur's Gate. I was like, get away from me. Nobody talk to me. I wonder if he has a video on the new expansion for Final Fantasy. Did you see they announced the new expansion for next year? If it's something Final Fantasy, Ginger Prime's got a video on. Yeah, he's got it. Trust me. And probably prior to even I mean, I'm not I'm just guessing because I've never talked to him about it. But prior to most people knowing, he probably knows because he is like the Final Fantasy freak on the Internet, the freak. What's up, everybody? Remnant two game of the year? Question mark could be final Friday so I can play BG three all weekend. Should I buy Sekiro or Dark Souls two? Good question. The cure of Dark Souls two. We'll get some of these questions out of the way. We are a weird question. They're very different games. Come on, Silver, put your foot down. Put your foot down. Don't come on. I need your answer. Johnny, come on, put your foot down. If you like if you like deflecting gold secure. If you hate deflecting, don't buy secure. But also maybe don't buy Dark Souls two. There are other better games. It's not a bad game. Maybe. You know, there are other options out there. You guys know me, I'll put my foot down. And I'm gonna put my foot down right now for sure. Sekiro. Try Sekiro first. And the reason why is because if you can play security, you can play Dark Souls. But if you play Dark Souls and you jump into Sekiro, they do play distinctly differently. And Sekiro requires more when it comes to the back and forth of it. So I would say try Sekiro first. If you can dive into it, you could also do Dark Souls first as some kind of primer for Sekiro. But man, I know a lot of people that did not work for where they were like, they're not. Yeah, they by the way, someone said that was a deflecting answer. Yeah, it was. It was. But that's all right. We've got one silver style answer. Each podcast is how we'll end up doing it. So on that topic, though, do you remember when Neo came out? That was the experience I got. I was like I was used to Dark Souls and those slower games or like methodical reactive gameplay. You go into Neo, man, and you just you get smoked. I remember DMing was like, dude, what's up? I can not beat this guy. And it was one hundred and fifty seven fights. And my wife was so mad. She was like, turn the music off. I'm so tired of hearing this guy announce himself. And I was like, it's time we're going. I wasn't even mad. I was like, it was a good fight. But boy, was I getting smoked. I was just I was just not doing it right. Let's see. Let's move it. Skip straight to Elden Ring. It's everything for. Oh, no, I wouldn't say skip. Personally, I wouldn't say skip to Elden Ring because Dark Souls and Sekiro have a base construction that is easier. Appreciated. Not easier. Appreciated. I don't want to say that, but I think in reverse it would. You wouldn't appreciate Dark Souls and Sekiro as much if you did Elden Ring. That's me. In a way, like this three is kind of pretty easy to parse. Agreed. Yeah. Compared because Elden Ring, even though they have a lot of accessibility stuff, it's a bit overwhelming. Like, whoa, OK, there's so much going on. Takes you a while to. Yeah. Hey, what's up, ACG? Love your stuff. Thank you very much. Died one hundred and thirty times. The first Neo2 boss. How so? Hey, how what's going on, man? How's been around forever? Sorry. Yeah, dude, that's that's what I'm talking about. That's exactly who I'm talking about. And I was doing the review and you couldn't hire souls. I was unconnected from the Internet. So it's just by myself. You're on your own, man. Yeah. It's just like the guy with the bones, right? Yeah. And I remember telling I remember telling you guys also on another game remnant to where I was like, this is the hardest when because they hadn't balanced it right there in the first reviewer patch. And I was getting my I was just getting smoked. And I was like, oh, are my skills because you always hear the story. When you get older, your skills go down. That may be true. I'm not saying I'm in reverse, but I do think that I look at experiences with prior games. You take them in. And so maybe use a little experience instead of a fast reflex for something. So I've actually only got better. So I was this was the first time those two games was where I was questioning myself. I'm like.
A highlight from Richard Heart Could Face LIFE IN PRISON (The End Of HEX?)
"Any of you guys from the SEC are listening I hope you are I want you to know in the deepest Deepest parts of your heart that I've saved a lot more people from being wrecked than you have Because I did everything I could to prevent people from putting their money into BlockFi Did you I did everything I could to prevent people from putting their money into Celsius? Did you I did everything I could to put people in charge of their own keys and get them to? Have self custody. Did you do that? I called the top on the day. Did you? What have you done? So I break my balls to save people. I'm warning people about bad daps fake airdrops Showing people constantly every single hack that happens right I hand out free coins out the ying yang I created free coins give them to Bitcoin quarters now creating free coins giving them to aetherium and every single er c20 holder I'm the giving tree of crypto. I raised 27 million for charity You know what the SEC did the SEC? 50 Got paid million dollars. All right, so that is Richard heart and whatever he says there I'm not sure if it's gonna help him when it comes to this big case against the SEC and we're gonna talk about the SEC case and Richard heart and what it means we also going to Talk about Bitcoin and where we're at with Bitcoin. So yesterday when we were on the show we said that It was decision time and Bitcoin needed to either break up or break down It looks like we got our break down and we are at the same level exactly the level which Annie said when she was in The show yesterday. She said it's gonna be twenty eight thousand eight hundred a presto about I said Is it gonna go up or down from here? She said it's gonna go down and she's looking for the twenty eight thousand eight hundred But look not all is lost We have dropped one level which is the 50 the 50 ma the 50 the 50 day moving average We've dropped that level but we are here at Another critical level. So I want to show you this this level here if you take Let me make sure you zoom out first. Let me go on today on to the daily and if you take this trend over here And okay, let me just get off the screen So if you take this trend line over here, it is exactly what Garrett said in terms of the trend So we are let me just get that a bit more a bit neater my charts are my charting skills on the screen I'm not great but you can see that Bitcoin is now moving back towards this trend line over here and probably if you look at that the Next critical level is about the twenty eight thousand. So we are going to talk about that We're also going to talk about this Bitcoin dominance spikes It's not a big spike but Bitcoin dominance actually did start going up and the reason why Bitcoin dominance started going up is because If you look at the bubbles you can see that there are two things that are really weighing down crypto So the first thing is the hex and pulse story. You've got hex down 26 % you got pulse down 45 % But I'll show you something very cool here when you look at hex and pulse Is that if you go to the hourly you can see that they're starting to recover on the hourly So yes, it's been a bad day for hex and pulse but if you go down to a shorter time frame What you can see is that these tokens are actually starting to turn and this may be your indicator that it might actually be buy Time so one of the things we are we should talk about today is we should talk about whether this is the end For hex and pulse or whether we're gonna get some kind of recovery now Magat says that Maybe it's not the end and maybe there's gonna be some kind of recovery the other big sector that you can see is Benicha Ave compound synthetics all the The DeFi token specifically the big DeFi 1 .0 tokens that have a lot of traction They got hit and we're gonna talk about why they got hit Because it's all got to do with curve and the hack that happened on curve But ironically it's actually not the hacker that's pushing down the price The big issue is that what's going on here could be a huge a huge hit to crypto This could be something that takes the market down by 10 or 20 percent overnight if it happens So we got to talk about all of that then I've got to Admit that I was half right and half wrong. So I said that FTX 2 .0 would never ever start I said that never ever start the exchange again And I was half right when I said it because I said it in context of the fact that the exchange token is going to be worth nothing and it is gonna be worth nothing but I was wrong because it seems like the FTX exchange is gonna restart. It's gonna restart pretty soon and We're gonna talk about that today. So there's a lot to talk about today. It's a massive massive show We haven't had a big news show like this for a long long long time Let's go. Let's get this on the road I Mean it's been a rough 24 hours for old coins If you look at that the old coin market hasn't been great and you can see it in the dominance Going back up towards that 50 % remember we were on forty nine and a half and you can see it in the banter bubbles Where you can see that the the the old coins have been really really really hard hit We're gonna talk about each one of them and why they've been hard hit And whether or not this is the end or whether we can expect another leg down Let me tell you that there is a real risk of another big leg down in crypto If if this curve situation doesn't resolve itself, then we've got a very very very big problem We're gonna get the defy the defy protocols the big defy protocols with all the traction They are going to get destroyed. They are going to get crippled if this curve thing pans out So it's a pretty serious thing We did start covering it yesterday, but I think we're gonna speak about it today because it could actually affect your portfolio It's also an amazing amazing amazing opportunity and I'll show you what the opportunity is regarding the curve token So I do have a long positioning curve I was stopped out a little bit of my curve position overnight because the price dipped and I'll show you whether or not it's worth actually getting into a similar trade on curve and where you should get into into Similar trade on curve because there's a lot of money to be made here There is a fort if you know what you're doing. There's a fortune of money to be made here I Think that's what we're gonna be covering today. If you are new to channel subscribe to channel Give us some love help us get on shadow band. We shadow band again. We keep fighting each of these shadow bands We just cannot win the only way to get rid of them is if you give us smash the like button and if you comment and they know that We're producing good content Obviously only do it if you think we're producing good content, but of course you think we're producing good content Otherwise, why the hell are you taking are you taking hours out of your day to come and join us here? That doesn't really make sense. Also If you are not yet signed up for the Bible competition, we will be giving away iPhones on the show today Let's just have a look at our squad We have we have 1948 people in our squad Let's see what the number two squad or the number three squad. In fact, let's just see what the squad layout looks like Okay, let's just quickly see what the layout looks like Okay, my squad if I want to change squad don't you dare do this don't don't change squads we need you in our squad Okay, so we have 1948 the winning team. Wow, we're catching up to them that we've got 70 with 74 behind them We've been 200 behind in the whole time All you do there is a link underneath this video sign up with a crypto banter by but referral link and then sign up to Our team we are going to be giving away the full eight million dollars that we win if we win to the community We're not keeping anything for the host also today We're gonna be giving away two iPhones at the end of the show to two people that have signed up So if you're not already signed up sign up, I mean you basically get an opportunity to win 20 iPhones between 2 ,000 people That's one in every hundred people is gonna win an iPhone and we're gonna just keep giving away iPhone and iPhones until we bolster this squad Alright, let's get into the meat and potatoes of the show because I think there's a massive massive massive show to talk about today There's lots of news. We haven't had news like this for a long time It's actually one of those days where I actually really want to do a show because there's so much to talk about So I think we should probably skip the formalities and just get straight into the hex story because it is a big big big story and I think the big question is what is Richard Hart gonna do is Richard Hart actually going to fight the SEC? or is he just going to be do what everybody else did and Actually settle and I think that I have some insight today. I'm gonna build a story today I'm gonna show you why I think that Richard Hart may actually fight this till the very end I don't think he's gonna just take the the settlement I'm gonna show you why in a few seconds, but for those of you don't know what is going on I think you obviously know who Richard Hart is we showed him in the beginning in the beginning of the show. We also We also on the eve of the launch of the Richard Hart Okay, we are set for you Richard What do you want people to know about you I got a big dick this here is three point one million dollars watches I don't know as big as diamonds you don't I do is Richard Genius legendary arrogant bit of a narcissist the benevolent king quarter -million hate me hate me I'm farther than you'll ever be in your whole life. Who does this guy think he is? Whatever the governments have been doing it's not worked out You've never had worse interest rates. Your money has never been worth less. Everything is getting worse Only thing that's making it better is crypto currency. It's better than the dollar. It's better than gold. It's better money Crypto is money without governments and it is money without banks You're not gonna meet another product like this as long as you live. Yes, every scammer in the world is gonna say this is the trailer for the Richard Hart movie and I think on the eve of the The Richard Hart story the SEC comes out and they make an announcement that they are suing Richard Hart aka Richard Schuler His real name is Richard Schuler and three unincorporated entities that he controls hex pulse chain and pulse X with conducted Conducting unregistered offerings of crypto asset securities that raised more than a billion dollars in crypto assets from investors Hart called on investors to buy crypto asset securities in offerings that he failed to register with SEC He then this is where it gets tricky He then deferred those investors by spending some of their crypto assets on exorbitant luxury goods This action seeks to protect the investing public and hold hot accountable for his action So the SEC coming out with one of their we caught you announcements. This is the document. It's about 27 pages I read all 27 pages so that you don't need to read 27 pages I'll show you the points that are actually important the points that actually make sense So the first point that actually makes sense is what hearted was he raised 2 .3 million etherium from investors with 678 million dollars for the hex project back then it appears at 94 to 97 % of these each deposit saver were Recycling transactions directed by heart and other insiders which enabled heart or other insiders to gain control of a large number of hex tokens What that means is that he was taking the ETH that was deposited and he was recycling them to get more Tokens for himself and other insiders again. This is the allegations as per the SEC He says investors also invested more than 354 million by depositing their crypto assets to the pulse chain public wallet address in exchange for the promise of a future delivery of PLS tokens in connection with pulse X investors invested more than 676 million dollars by depositing their crypto assets to the pulse X Public address in exchange for the promise of future delivery of pulse X tokens They're going after him for hex for pulse and for pulse X now up until this point this whole thing is just a civil case between heart and the SEC for Potentially selling unregistered securities to this point. It's pretty simple straightforward and probably the same charges at every other ICO Founder is going to face now. Some of them will fight the the charges and something won't fight the charges That's just that's just what it is. But this is the point where it gets a little bit more tricky. So if you look at page 7 so it's point up to him Additionally heart and pulse chain defrauded investors by misappropriating at least 12 .1 million of pulse chain investor funds instead of using these funds to develop and market the pulse chain network or even fulfill hearts explicit statement that invested funds support freedom of speech heart and pulse chain used 12 .1 million dollars of investor funds for hearty for hearts personal hearty luxury luxury purchase Including a five hundred fifty five carat diamond the biggest black diamond in the world expensive watches and high -end automobiles now But I mean that was the lifestyle that that that heart was actually and we all saw this we saw the sports cars We saw the watches now. There's a big question here Is this misappropriation of investor funds on the one hand? He did tell everyone that they were sacrificing their money and if you sacrifice the money Well, then you're not actually an investor and if you're not an investor, well, then you don't have any rights that investors have so what the SEC is going after him for is they're making an assumption that a these tokens are securities and that be that he actually Misappropriated funds now again the term misappropriated funds means that Investors had expectations investors had expectations that the funds would be used for a certain purpose. These weren't investors. These are people that Sacrificed their money and probably that's gonna be hearts defense now I wonder if he actually got any legal opinions Before he actually did this and if he did get those legal opinions I wonder if he actually listened to his lawyers or whether he's eager got the better of him because it's all very well You know, sometimes you you get advice from your lawyers and as you end up making more and more money You start thinking that you're more and more invincible and if you Feel more invincible then you may stretch what your lawyers have told you and kind of justified it to yourself that it's okay to use These funds perhaps perhaps you can call this marketing Perhaps you can call this, you know part of the game to try and get people to sign up to the next community You know and you could say that this was what you did The other issue is that it seems like the SEC said that he is a US citizen, but he also The offers offering for sale of hex and hex tokens have not been registered with a commission and they were available to US investors and I think that that may actually be Another another issue that he has I'll show you I'll show you I think it's a point Page 11 so point page 11 hex hex conducted the worldwide offering with no restrictions on who could access hex and hex dot -com and he said that when hit websites and These transactions can be traced to at least 21 ,000 156 wallet addresses including addresses that belong to investors in the United States.
A highlight from TBGP #402 Exclusive Atlas Fallen Impressions, Does Size Matter, Armored Core 6, Industry News, No Console War Crap
"What's up everybody, this is me talking on my own. We tried to do a stream on YouTube earlier today, had a bunch of issues with it technically, which is weird because on my side it was fine. But on YouTube side this time, you guys know that when we do YouTube streams, we just always seem to run into some weird debacle. But it didn't seem to be on my side this time, which was nice. But we ended up having to stop the stream about 20 minutes in. You didn't really miss much. We talked a little bit about games. We talked a little bit about Diablo. So what you're going to see at the starting of this is probably just a cut directly into us discussing games. And I do want to say a special thanks. I didn't get to do this during the stream, but a special thanks to everybody who subscribed were at, I don't know, one million forty thousand or something, a crazy number. Thanks to people who've helped me figure out all the issues I've had on YouTube. You guys rock. But I definitely appreciate getting to a million subscribers. It's been fantastic. That was it. I just absolutely appreciate it. So we're going to cut to the starting of our podcast with all of the guys. Hope you enjoy it. Moving on from there, I want to talk about remnant to so remnant to a bunch of us have been playing it. I've returned to it, which is, like I said, just absolutely astonishing for me because I just don't. Johnny's been playing at a bunch because I see him pop up a lot. You're playing with your friend, I'm assuming, or are you doing solo, mostly solo at this point? What are you thinking as a solo player? You know, sometimes I struggle because the the resurrection from the dog is not reliable. There are times. Yeah, there are times when he just won't do it and I don't understand the logic in it, but that's just playing solo. You're basically you can't die, right? Right. Sometimes you'll get bailed out by the dog, but that's about it. I like it. I like that the bosses have actual mechanics you have to figure out. So, you know, when you run into a boss. There are some tricky things where you have to see, oh, OK, like, you know, he's doing this with the ground and I have to to do so it will take some tries and people I think have to be ready to to die a few times until you figure it out. And the other thing is you have to be extremely thorough in exploring locations because I've found so many secrets and I played a little bit with a friend and he showed me like, oh, you can drop here and then you find this and like there's so many things. So whenever you look at the map, if you have like a black area, you know, undiscovered in your map, definitely go check it out because there's just a ton of secret stuff. One of my favorite things to do in ARPGs is just is just like wipe at the map. You know what I mean? Like clean it all. Every single edge needs to appear. It's like power washer for a HUD. Yeah, exactly. Power washer. But you're just cleaning your mini map. It's funny with Remnant 2, Silver, are you going to do Remnant 2? I think you said no last time. This was two weeks ago or two or three weeks ago. Probably not. So, I mean, I bought Diablo. So if somebody convinced me, right. If somebody if some if Lemon Streak's like, come on. So the thing about Remnant dude that like there's that one slime mold. I don't know if you saw that, Johnny. But there's like a tunnel that if you smash a slime mold and wait ninety nine minutes for the water to fill up, you can go you can then go into the water, jump onto a platform, get a special weapon. I was like, oh my God. Yeah. I get purposely kidnapped by a bad guy that comes in. And if they kidnap you, they take you a spot. If you go to that spot and kill them, you can get a new weapon or get a new archetype that isn't unlocked any other way. There's like it's like types that's made in thing as well. Yeah. It's killed by a guy and get transported somewhere in a weird way. It's a more in -depth Red Dead 2 where you don't have to you don't just look at somebody building that, you know, a railroad track. You actually have to do stuff and then you get rewarded for weird things. And a lot of them are random. But the guy who did the mold thing said he looked at a tunnel and he was like, why is this the only tunnel with shootable mold? So he made a sandwich. He just shot. He saw the water was raising imperceptibly. And he's like, hmm, I'm going to make a sandwich, come back and see. And it just kept filling. It's like, I'm going to wait. And he just waited and waited and waited and then did it was like, oh, man, yes, I feel like remember last time I talked about how the Internet would create metas and stuff. I think this is one of the it's like, you know, going to school until your friend telling your friends, like, holy shit, have you tried this and that? And you can, you know, you could totally do this. I'm not lying. And this is the one of the things where the community just gets together and, you know, you know, discovery happens on a more global scale. And everybody just pushes. Dude, I love how even many days in the community was still discovering the different classes you can. Oh, yeah, dude. I'm sure there are types that they don't even know. Yeah. They don't even know that they've discovered all the classes. Yeah. Like they don't have confirmation that that doesn't feel like they took the replayability to like 11. Yeah. Yeah. I think that's what it's crazy. That's what that's what excited me about. The first remnant is the replayability and the procedural generation. I think that's like the bread and butter is there the replayability because that's the whole thing. Sorry to cut you off, Abzi, just like excited because I discovered so many little things talking to my friend. Like there are alternate killing modes for bosses. Yeah. If you kill a boss, like in a particular way, you can then get a different drop, maybe from weapon drop or something. It's there's just so much. It's so rich. You know, I got to ask, what's Jack Jones, Johnny, your shirt? Just a brand. Just a clothing brand. Oh, OK.
A highlight from TBGP #402 Exclusive Atlas Fallen Impressions, Does Size Matter, Armored Core 6, Industry News, No Console War Crap
"What's up everybody, this is me talking on my own. We tried to do a stream on YouTube earlier today, had a bunch of issues with it technically, which is weird because on my side it was fine. But on YouTube side this time, you guys know that when we do YouTube streams, we just always seem to run into some weird debacle. But it didn't seem to be on my side this time, which was nice. But we ended up having to stop the stream about 20 minutes in. You didn't really miss much. We talked a little bit about games. We talked a little bit about Diablo. So what you're going to see at the starting of this is probably just a cut directly into us discussing games. And I do want to say a special thanks. I didn't get to do this during the stream, but a special thanks to everybody who subscribed were at, I don't know, one million forty thousand or something, a crazy number. Thanks to people who've helped me figure out all the issues I've had on YouTube. You guys rock. But I definitely appreciate getting to a million subscribers. It's been fantastic. That was it. I just absolutely appreciate it. So we're going to cut to the starting of our podcast with all of the guys. Hope you enjoy it. Moving on from there, I want to talk about remnant to so remnant to a bunch of us have been playing it. I've returned to it, which is, like I said, just absolutely astonishing for me because I just don't. Johnny's been playing at a bunch because I see him pop up a lot. You're playing with your friend, I'm assuming, or are you doing solo, mostly solo at this point? What are you thinking as a solo player? You know, sometimes I struggle because the the resurrection from the dog is not reliable. There are times. Yeah, there are times when he just won't do it and I don't understand the logic in it, but that's just playing solo. You're basically you can't die, right? Right. Sometimes you'll get bailed out by the dog, but that's about it. I like it. I like that the bosses have actual mechanics you have to figure out. So, you know, when you run into a boss.
"one million" Discussed on My First Million
"And then i'm guessing 'cause i haven't listened to partout yet but i'm guessing that obviously it's going to turn up and he's gonna end up becoming the leader of the country but it was so crazy to me that he was unremarkable. Essentially till thirty it. Was that surprising to you. In the moment that you're talking about is like he was kind of like a mid level operative saint petersburg and i think the guy that he worked for lost an election. So he's like out of a job and he was going to go just like started. Judo jim in saint petersburg russia. Yeah because he's like pretty good just like he's like in scranton he's just a mid level assistant to the regional manager and then somehow becomes. Dwight became. That's sort of like what happened with putin mid level officer to president. Do you think ben that he is actually the richest person in.
"one million" Discussed on My First Million
"It. So i sampled your gym so i went to your house. Sample georgia wow amazing. And then i called you the other day. I was like yo. What are you using for the floor. And what are you doing. What are you doing for that. Gave me the the blueprint. Because i'm turning my garage into your garage. I i'm like that is a great. That was such an amazing feeling to work out there. I want to have that feeling on a daily basis. So dude it's cheaper than you think. I didn't even take. It's not even a lot of money but it's more like is more of having the clear vision of what you want and seeing yours was like. Oh now. I know what. I like and i just have some additional modifications. I'm like oh my daughter is too. She loves to come out when i'm working out. And she wants to work out with me side by side which is just like. She just wants to be she wants to do. Little things next to me so creating a little workout playpen where she can go in there with a little foam weights and do her thing while. I'm doing mine. So i'm like okay. I'm going to craft this lifestyle. It'd be what i want and that there's something to the sampling. And i really encourage people to find a way to sample it. If you want to know what kind of home you want airbnb something before. I did this chef thing. I hired a chef for one meal to cook dinner for like i had some friends in town is like oh let me hire somebody off craig's list to make one meal deal we can go out to eat but wouldn't it be cool for chef came to our house and did it and like the cost about the same of taking my friends out to a restaurant so let me just do that at home and it was amazing and so having that chef at the at the home was like a good way to test these things and so. That's my kind of challenge to anybody who has made it through this random episode which is like think about the shit that you have been telling yourself you want and figure out a way to go sample it like in the next week go rent the car go hang out at someone's house go shadow a co go. You know higher the chef for the day do do like the sample of figure out. Does it make you want it ten times war or ten times less because usually that's the reaction i have when i when i feel it for the first time real as i want it.
"one million" Discussed on My First Million
"But they like the feeling after the cleaners our here is like that's like a high for me i did. I don't know molly is but that's molly for me. I feel so good in my own home. It's amazing having food. Having fresh healthy food made i think that's that's a treat absolute treat for me. I i'm perfectly happy with a cleaner who comes every two weeks and i think we spent one hundred twenty one hundred th i don't remember but i'm also and i have kids of their best. Heroes fox gets destroyed. My sister cleans i think four times a day in her house is putting putting toys away every every four hours basically so it's crazy I don't know if people care about this. But i guess my point is trying to make is i think sam's lasota already like totally off the i think sampling. Your lifestyle super important. I'll give you one more story here that that helps so you know that added. I did a podcast from vegas. I said i was that somebody's home. Fifteen thousand square feet. Yeah i don't even know how. How many like ten ten to fifteen thousand square feet just unbe. It looks like a hotel. Basically and unbelievable they they have. They've lambeau and ferrari in a monster truck and all this other cool shit. They have all the toys a batting cage in the backyard. There's an infinity pool. That looks over the strip. There's everything you would want home. Big out elevator. All the crazy shit And so anyways. I when i was there. I had this feeling that i don't like that. I've thought i had slade this feeling but no we came back and it was like kind of jealousy is like the way i knew it was because i was like poo pooing like oh i don't need all this. I'm happy without all this. And i was kind of like in my head. China like almost say. Why didn't want these things. Because actually i feel bad. That i didn't have all these things like this weird psychology thing but the simple way of explaining it was like i felt these little hunger pangs of of envy of like. I want that and i was like oh. That's not a good feeling. And the shift i made was instead of feeling like oh you know these are things that i don't have but they have right like there's nothing wrong with them but i don't have these things and other people have them. Instead i looked at it differently. I was like Though the third day there. I gotta shift my mindset. I'm not trying to have this. Jealousy feeling in my my day is not a cool feeling for me so i was like all right. What am i gonna shifted to..
"one million" Discussed on My First Million
"That these marriages aren't always the best and so happy You know most. I would say like a very low divorce rate because like societally. It's like taboo against getting divorced so they just like even worse stay together. Unhappy is what most people do. And obviously some get divorced. Their's arranged marriage ideas. It's not great now. Counterpoint would be. I think in new york. There's a fifty three percent divorce rate. Also so you know. Maybe the whole dating thing doesn't work as well so that that's the that's a fair counterpoint. But i would say this idea of dating basically try before you buy is is really important in life and like these these tests that you've done for yourself or super important and i'm shocked more. People don't do them. I started doing them. And i'm like wow that's way better than this. I'll just have this idea in my head and it'll get so real in my head. And then when i finally do it on my gosh it was underwhelming. Sampled this beforehand and known that not does idea like What's an example like okay. I'll give you an example on the plus side. Sliver a hired a chef. I have a personal chef. I wanted a personal chef for a really long time. How much does that cost a month. Show how much does it cost me on this about three thousand four hundred dollars a month. three thousand five hundred dollars. Maybe thirty four hundred includes food that does not include foods on top. That's just like the service the service of having a private chef in my house and by the way worth it amazing fortunate to be able to afford it but like to me. I don't have a fancy car. I don't even have a fancy home. But i got a housekeeper who comes three days a week and i got a private chef and to me. That's like that's my version of luxury. That's you know. That's my version of lambeau. It's like lifestyle Does this person how everything does so. I have a chef as well for a minute but it was a little bit different more like meal. Prep does this person. Come and i paid way less a fraction of that right. I'm in the bay area to so yeah but my guy came two days a week and they would meal prep for me and i didn't like it ended up not using him and i made my own food tested them so to do the sample idea. I i even got the idea. Because i got to sample it. So my previous company monkey furniture you. You've been there before for lunch. I think probably the the investors behind us. They are kind of a billionaire family. The family they had a private chef in their home. But you know they were out and about all day working or they'd be at the office so they're chef would just come to the office and cook for all of us and so we company of like twenty people and cook this amazing spread and all of a sudden healthy food tasted good so immediately i was like holy shit. This is kind of amazing. I don't have to go out figure out what to eat every day. This guy just decide so this decision. I don't make he cooks healthy food. And it tastes like junk food or wow. That's amazing if i just ate this for all my meals i'd be way healthier than just my lunch and so so i got to sample it..
"one million" Discussed on My First Million
"It's amazing. I would love to go visit. But i would not want to do this myself. So i've actually done this a bunch of time. So there's a bunch of stuff that i wanted to my life and i was able to test it on a very small scale and i'll give you a few examples so for example I wanted to retire. And so i had the opportunity a couple years ago. I took six weeks off right. And i just took it off completely and by the fifth week i was like i can't retire. I have something to do. Another example is buying a fancy car. You can go and test these cars for right. It's a lot of money. It's a thousand dollars a day but you could testing two hundred thousand dollar car for two days. Is you get into this. Ferrari is so small. I cannot drive us up and down like a driveway. It's going to smack the ground and it's not fun. I'm stressed about this versus the stress of having it is actually not a good trade. Now that i feel it another example having a five thousand square foot home for the longest time i was. I want five thousand square foot house. So i went and rented a five thousand square foot house. I spent a lot of money. Maybe i think i did it in new york. I rented a fifty five hundred square foot house and it was like thirteen thousand dollars a month. A lot of money. No doubt about that but the house was way more expensive than that. And i got this house and i was like i cannot imagine having to fix all this crap. All the time exhausting. I can't do this. I don't want this or i'm only using the living room bedroom in this huge kitchen. Which i like. I don't need these six other bedrooms and anyway. I think that you could actually test. A lot of stuff and more people should do that. They should do so. I've got my rant for a second figure out like in college right so i think there's this crazy thing in society. Which is like over commitment and over specialization without dabbling. So your freshman. I remember at the end of my freshman year in college. I had to commit to a major like to is just figured out. Where the hell the bathroom is. I don't know what a major is. I don't know what the other majors could be. I know that. If i don't commit i'm going to be falling behind an off track it. I'm not going to have my credits on time. And i'm not gonna know what courses to take and i'm basically picking my career without even knowing what my career should be so forget what classes i'm gonna like these that my major sort of dictates what job i'm eligible for at the end and i think it's crazy and the same thing with people's first job. They just sort of pick a career track without dabbling and figuring out what they actually might like to do. The idea of dating is a amazing like my parents were arranged marriage so they they literally. My mom read an ad in the newspaper for my dad. Which said like you know. Six feet tall which is a slight lie. Five ten indian. What else engineer. Degree and good family basically the ad and she was like describe like every indian american. Good enough good enough to marry. Let's let's meats and then the parents met in this won t. We're having this one coffee meeting. We're having all right cool done deal. See the next time. I see you will be at the wedding. And that's how they got married and like you know really shocker..
"one million" Discussed on My First Million
"Opted ideas so anyway said juliette basically. Yeah he buys and by the way the ranch thought he was a restaurant because he was ordering so much fucking steak. They're like well certainly. You're a restaurant. Here's your wholesale price break and it just turns out. He's just a dude anyway so he really wants to build this ranch in the middle of nowhere because he's thinking about about one live anything he he tweeted out. This threat that i love is just just search is named julian and i'm building a ranch in the middle of nature and basically he's like. Why am i doing this. I wanna leave san francisco. I you know. I think it would be amazing. And he basically tweets out his plans. He's like. Here's where i'm looking. Here's the land. Here's how much it cost to build these like prefab home to build this podcast studio. I'm going to have like buy blink. You like this. I know this is right up your alley. So what did you think about this. Okay so this.
"one million" Discussed on My First Million
"And then he got six eight weeks and do it and he's like i can't even imagine eating sugar carbs again. I crave 'em at all. It sounds horrible by the way. That's a real thing from what i understand that. There's there's basically in your microbiome in your gut. There's all these basically these bacteria that live there and the bacteria fee of the different yeast and bacteria feed off of different substrate. Different different food. And so the more you eat carbs so imagine if what you're putting in his carbs the bacteria that thrived off of let's call it. Meat are gonna die out and activity of the thrive on. Carbs are going to proliferate. They're gonna spread they're gonna multiply and they're gonna they're gonna make up the majority of your gut and then if you decide to switch go low carb all of a sudden those bacteria are going to say we're the our food and in the craving you feel those carb cravings is not just like your mind being week. It's literally the gut bacteria that are signalling to your body. We need our fixed. We need our should or we're gonna die. What are you. are you reading about body stuff. Now how do you know all this. No i heard this once. I was fascinated by it. And somebody had told me this. And i looked into because bullshit and like i'll just say half the should. I read five years later. Trajectory bullshit so like with health. I feel like nobody knows anything. But in hearing this i was like. Oh that makes total sense. And that's how you get just like you get withdrawal pangs. If you stop caffeine the same exact thing happens with cars and when you know that that's what's happening you're like okay. I just need to ride you motherfuckers out like i just need to keep. I decided to hold you elza. Starve you guys out. And in seven days you'll be dead and the only bacteria left will be the ones that feed the stuff. I want to be eating. So.
"one million" Discussed on My First Million
"Yeah i've always been curious about like how how people have the guts to do this but it makes sense you go to mexico. Get your teeth fixed or whatever you know. Have you ever done anything like this. No so for those. Who don't know at those. I learned about this because me. And sean buddy john. How are your friends with john day. he's great. we shared an office with him at. This place called founder's dojo and they create a company. I forget the name of it but it was basically medical tourism. So basically i think a use case typically like dentists or like veneers teeth. Stike although there's other stuff like breast implants in plastic surgery. Were their premise. Was basically it's cheaper ticket done in bali or mexico or india. Somewhere like that where like there. I have no idea this.
"one million" Discussed on My First Million
"Started deteriorating deteriorating it was about to die and they did this gene editing stuff and he was able to re grow back his skin and a lot of people. But it's very controversial because you're doing a couple of things. You're kind of like playing god which i don't buy in but that's an argument people also yeah and also it's experimental and so the fda like very closely monitors the stuff ran. They'll say there's there's weird bio hacker fringe types. Who are interested in this stuff. And so it's all like controversy`l kind of but nonetheless it's cool so i'm trying to invest in. This company called mini circle. And they're making this new gene therapy that like increases muscle mass bone density helps you with insulin sensitivity. And does all this crazy shit to you but in order to get it done in america you gotta go to the fda and it's like this big process and so. They've moved their company to prospero. This peter thiel city in order to make all this should happen and they're doing their city or is this in.
"one million" Discussed on My First Million
"So listen to the gold digger podcast again goal like i've got goals to achieve something big get good name the gold digger podcast not gold digger. The gold digger podcasts. Wherever you get your podcast check it out. Okay did you. Did you know. I've done a very similar thing. Is i got a couple of like when you said you were doing this. I remember back when i did this. There's a group in the bay area that has called the inside inside circle. I think it's called and nonprofit they basically go into. It's like A men's group so for people who listen to this. That don't know what a men's group is. It's a key idea that's been around for a long time as many different flavors of this. There's some that are kind of business oriented. There's some that are our interests are changing your life. I forgot what's the what's the famous one of the bayer. that people think is a cult. Men's group know if you know the name of it could become a weekend thing you do But there's something yes something like that. Not not that. There's something like that so anyway. The men's group is where a bunch of men get together. They sit in a circle and talk about the feelings and talk about what's going on and they a and they have like a whole process. That's like basically helps people unpack. What's going on inside so that they when you unpack. What's going on inside. You're not carrying all this baggage around and then you you will act more like what you want to act because you don't have the sort of suppressed pent up stuff inside. That's my layman's version of. I'm there's a much fancier better way of explaining it so i went to folsom prison to the same same sort of thing day program you go in and this guy gino. He was kind of like you know you get pen. Pal buddy basically so you know you meet your buddy and he was in there. He's been in there since eighteen and he had murdered somebody when he was eighteen. And he's been in there for twenty years now thirty eight and he was like you know yeah. I did this horrible thing when i was eighteen. And like i'm in here for life. Basically like my whole life is basically in prison and he had a great great attitude about him. Funny guy he was you know he was just. It was kind of unreal. Because i had been you know kind of embarrassing admit it. But i had been kind of You know in my head. I just sort of wrote this off just wrote off people in prison. I think society writes off. And i had sort of just aim like yeah not not super interesting going in and meeting people who have murdered people before. But it's really not that simple. Let's you meet them. It's really not that simple to sort of like bucket people like that as good and bad and so you kind of kind of embarrassing. Even out loud sounds obvious but it was kind of a kind of a waiting moment and that we did we. Did these exercise where you're like..
"one million" Discussed on My First Million
"I believe the story is ten years ago. He was dating a woman and she volunteered at a prison and she was teaching. I think math like she got pulled into it. At san clinton's you live in san francisco and someone was like. Hey we need sorry. Someone was like chris. Can you come and talk about entrepreneurship to these inmates. I guess i'll go and he goes and they're like can you come again. Can you come again. He's the guy i guess. And then eventually he was like wow you know. This is a major problem. That i'm passionate and i care about. And so him and his wife. They started a thing where they go. Hey they went to a sacramento the capital california and they basically lobbied for this program. They go hey everyone will put up one hundred thousand dollars you know. They're talking to the politicians would. Would it be okay. If we did a cohort for entrepreneurship in san whitten. Through friends. they got in front of the right. People can approve and then they're like well. you know. Entrepreneurship is okay. But teaching the code is way better so he starts doing that and then he goes in his apple. I believe the trump the trump administration the coke brothers rich people to donate money and now they have this huge program. That's kind of amazing..
"one million" Discussed on My First Million
"He's a he's a you afraid of me and i was like as a yeah. I'm afraid he goes. That's your truth. Feel like actor. Rude aware that nobody could be what i want to days. Travel never look in on wednesday. Ramon was on so ramone. Ramon ramon is the best. Silverman came on and did his thing. He was the best good. I'm i'm happy for him. He's getting a bunch of wins right now and that makes me happy for him. Yeah you where were you say. You were doing something interesting. That's let me tell you. Come story yeah. Let me tell you what i did. So i found here with this program called the last mile. It was started by my friend chris ride blitz. Chris started he did a bunch of stuff. He was early at reebok. he's sixty five years old. He was an early employee. Reebok would you probably became very financially successful there. Then he started a company that he took public and then he started a vc fund. That i believe was quite successful. They were in on wish dot com and fielder things and he started this charity or nonprofit called last mile and the whole vision behind. This thing is basically. I'm not supposed to use the word inmates. They've asked me not to use the word inmates. But sometimes i'm still gonna use that word because that's what most people know what it means but basically prison inmates they are going to get. What do they want you to say. Well it's a good good terminology and good way of thinking but basically they're like well look we're trying to get them out of prison and intertwined said if they're going to be working and having a job. We don't want to refer to them as offenders as inmates but students started on but that would be confusing in this context. Okay yeah in this context. Yes and so. I'm going to kind of go against his rules in this context. So there's a million people in prison right and a lotta guys. Are there for ten twenty thirty years for manslaughter for doing whatever they're going to get out and whether you like whether you forgive him for the crime or not the fact is is that they're going to get out and so the last mile is teaching them how to code for about two or three years through a program and then helping them get jobs at like slack. I believe ebay things like that. And they've graduated. I think eight hundred people out of prison. The who what the program and none of them have gone back to prison. And i believe the average prison the average person who goes to prison. I think it's like a sixty five percent chance that go back to prison right. So the fact is that these guys like for example. I was with this one guy who basically he caught his wife cheating and they got into an argument. According to the news. I google that he she like went to fight him with the hammer. He grabbed the hammer and killed her and he was imprisoned for twenty years. And i.
"one million" Discussed on EV News Daily - Electric Car Podcast
"Now he didn't have comprehensive coverage on the car and it wasn't covered under is insurance and tesla wouldn't replace it so he went to the electrified. Gay marriage according to also dot com. They picked up the story. The bottom line is the independent repairs. so you might know the name rich ben. Well rich rebuilds his youtube channel. They went to his garage. It cost him seven hundred dollars because they were able to identify the part that had been broken and replace it. Because you can buy the pumps from tesla whereas if something small breaks tesla and then not the only ones that do this apple a much like they replace the whole module they look at it and case if we d sold to this part from the motherboard on your iphone and we put in a new resistant or something. It'll work again and it'll it'll cost of dollah but we it's a whole new poll of the phone. Now that is wasteful. it goes to landfill if it's not being recycled and of course for this chap he didn't spend sixteen thousand dollars on a whole new battery pack. He spent seven hundred dollars on the parts and he also made the point the when he detests well. If you are putting a new battery pack in for sixteen thousand dollars. I'll have the old one because i own it..
"one million" Discussed on Bloomberg Radio New York
"One million hard copies printed people lined up in the rain to get a bit of history. Bloomberg Stephen Engel has reported now that they're down to a skeleton crew because employees had quite a fear of more arrests and fearing for their Freedom Day two of the trial of several men charged under this China security law as well. U K Prime Minister Boris Johnson today marking the five year anniversary of the vote to Brexit, saying that U K is indeed established its independence from outside influence. US. FBI Director Christopher Wray in front of the Senate Appropriations committed today, says the agency strategy to stop Iran somewhere is working. Europe is getting a fresh warning about safety and getting people vaccinated. The Delta variant spreads UK reports most cases since the start of February in San Francisco. I'm Ed Baxter. This is Bloomberg. Alright, Paul back to you. All right, thanks very much. Said we're joined this half hour by Thomas Hayes, his chairman of Great Hill Capital, and Thomas. We did have to catch you off on your thought. A little earlier, you were talking about Alibaba, saying it's down for three key reasons. I wondered if you Care to expand on those? Yes, Chinese stocks at the whole, the whole basket really got hit several months back for a few reasons. First and foremost, was the arcade Goes Family office to Bill Wang Blow up there was an unwind of about 100 billion notional of Chinese stocks. And the ones in his portfolio. Baidu VIP shops Gsx Tencent Music entertainment were hit but also the ones that weren't in his portfolio. Like Baba JD X. Paying the entire group was hit with this unwind, which took many months with the prime brokers unwinding their hedges and their positions. The second thing is obviously the Chinese government regulation and crackdown. We saw $2.8 billion fine. Anti monopoly. Find to Alibaba. We saw a crackdown on the live streamers on the education providers. We saw a delay of the ant financial Ip I P o, uh And then, finally, of course, was inflation fears. So you saw the same with attack and yield sensitive groups in the United States with the 10 year yield went up from 100 basis points to 175 basis points within a period of six weeks earlier in the year. Attack and Chinese tech all sold off because long duration earnings became less valuable with with the fear of a higher discount rate. Now, Alibaba is a unique situation certainly best in class. If you look back since its IPO, it's traded at an average PE of 28 times. If you look forward to next year's earnings, it's trading.
"one million" Discussed on Conscious Millionaire Show ~ Business Coaching and Mentoring 6 Days a Week
"If if you just have community and people you care about and health and food and water got a rich life richness feeling really rich really alive. Bashful would again got malaria twice. Since i grew up in southern california with some pretty optimistic and outgoing parents specifically in the health capacity southern california. We awesomely think that green drink and meditation heals everything that was according to the doctor who told me. I had malaria the stupidest thing. He's ever heard of his life and he definitely definitely urged me to take the malaria medicine which i was stubborn about Because i really deeply believed. I could heal it if enough meditation in green drink. My body would naturally heal itself so him and i went a little bit of a debate for a couple of weeks. It got to a point that i was struggling to brief at fifty five thousand parasites per one red blood cell. According to him about six days left to live took the medicine. Luckily knock on wood got better And then came home and realized health was the greatest wealth in the entire world and it was interesting. It was a full circle reset over about a decade of my life. That went from. If i could just live like the music video. I really feel like i'd be living life to the fullest to my goodness. If i breathe life is beautiful. It's very interesting skipping my story because if you listen and i hope that you are fan if this is your first time i want to welcome you here. i've had some health. Challenges had a heart attack three years ago and my number one priority in life is health. Yep it's health. I'm primarily vegetarian You know eat very healthy foods. I do have green drinks. I have to confess you know now that you brought it up you know. I'm curious the smart path to your first million. What how do you define that. Because if you're listing chances are you either wanna to your first million are. You've already made at least a million or more and and you want to get to the next millions in some ways. It's the same principles absolutely so that smart path. We were talking about this prior to the show. Where i've been to vegas a few times in my life and i've sat at a blackjack table and watch people play this game. And they said there's an easy way to get the blackjack which is a jack and a ten kind of flip over and you go..
"one million" Discussed on KIRO Radio 97.3 FM
"Jobs report. The economy added just 266,000 new jobs last month. Many economists were expecting one million. The unemployment rate rose to 6.1% Bankrate senior economic analysts mark Camera, You have not had the improvement in the job market that we would have expected by now. We had thought that as of this report, the unemployment rate would be below 6%. Instead, it's slightly above And we did not get the number of jobs restored in the economy or added, And he says this does not help the long term outlook in our state. Unemployment claims were down last week, New claims were down almost 10% from the week prior. Total claims down. Just 1% in Texas legislators worked through the night on a bill to rewrite the States voting laws. Texas, already rated one of the hardest states to vote in an election experts say this bill will make it even harder. Vice president of Kent based Ari. I. Speaking out against those changes in Texas about is are we standing up for the things that we believe in? I think more and more consumers are looking to brands and two businesses to make their values clear with their actions. Ben Steel joined more than 50 business leaders, signing a letter opposing the change is concerned about Is when eligible voters are. It's made harder for them to vote, and we're seeing that a lot of places, and I think there's an attempt to politicize that. But we see it as a fundamental right, not a political issue. Ari. I has stores across Texas. First the threat of a special session from a bipartisan group of state legislators. Now Governor Jay Inslee faces more criticism for his ever changing reopening plans, while the head of Washington Hospitality Association appreciates the governor pausing any rollbacks. They want something more certain. Set a date. June 15th. It's time to fully reopen. Let's do it by June, 15th Anthony Antone says, setting a date like that gives everyone who wants a covert vaccine enough time to get 16 33. Now let's.
"one million" Discussed on Podcast Pontifications
"Available podcast thanks to anchor and still going strong like really strong new things rolling out from spotify right now so even though we might not like it. They're they're they exist. And that's kind of what clicked inside of my head. Clubhouse could do this the same thing. Clubhouse has right now ten million weekly active users not monthly active users weekly active users. Just think for a second. How simple and straightforward it likely would be four clubhouse to flip a switch and turn each club into a podcast and then automatically distribute that podcast to all the platforms same platforms. You're listening to this on the same platforms. Your show is listed on the same. Show that those one million brand new show is from anchor showed up on now. Why did i say it. The title of the show that these would come from clubhouse. Not podcasters doesn't that by default. Make these people who are producing. These shows podcasters. Well technically yes but practically no right. They're not interested in the geeky sides of things. Most of the people creating content on anchor of those one million new shows last year really probably don't consider themselves podcasters. I've called them. Pinos in the past linked to that episode podcasters in name only and i think that's what we're gipp. If in fact clubhouse does open up the floodgates on us and allow anybody. who's in a club to automatically have those episodes published as a podcast. Now as i've said before the next wave of podcasters are going to look very different than us. Those of us started back in two thousand four. Those who started in in the office or the early double digits teens area the twenties and thirties. We'll look totally different. I've said previously. Well maybe the future is that we're not thinking about ourselves as podcasters anymore. The new wave don't really consider this podcasters more importantly maybe they don't care.