40 Burst results for "Two Halves"
A highlight from Chinese Communist Bitcoin Miners? And Lobbying For Bitcoin Mining W/ Dennis Porter
"Welcome back to the mining pod on this week's show. We're joined by Dennis Porter of the Satoshi Action Group to discuss Bitcoin mining and Politics we're mainly focused on the national security concerns when it comes to Bitcoin mining So we discussed with Dennis about moving into state houses and lobbying on behalf of the Bitcoin mining industry as a note Dennis is throwing a dinner at the end of this week on Friday at the North American blockchain summit Be sure to use promo code mining pod to get 25 % off your ticket. We'll be seeing you down in Fort Worth Do you have dinner plans November 17th? Well you do now down in Fort Worth, Texas at the North American blockchain summit Satoshi Action Group is hosting a dinner along with a lot of our friends in the Bitcoin mining industry You can join us November 17th at 6 30 p .m By going to Satoshi dinner calm and using promo code mining pod to get 25 % off your ticket again That's Satoshi dinner calm use code mining pod to get 25 % off your ticket. We'll be seeing you there Did you know that you can make more money by merge mining other networks check out make more money mining dot -com for information on bits 300 and 301 a proposal to bring more revenue to Bitcoin miners through side chains and merge mining called drive chains increase your mining revenues And learn more about participating in Bitcoin governance by visiting make more money mining dot -com Are you a miner who wants to activate Bitcoin improvements check out activation dot watch see what Bitcoin improvements the Bitcoin community? Developers and miners are considering and show support by signaling for one of many bits up for consideration activation dot watch Is your mining operation happening ready take control of your own future with the right energy strategy Link coin energy training platform is a tool used by miners to design monitor and seamlessly orchestrate sophisticated energy strategies within electricity markets such as or caught New York and PJM avoid penalties Participate demand response programs and capture hundreds of thousands of dollars per megawatt per year by deploying the right block and index strategy secure your competitive edge at link coin calm Are you a retail or institutional investor interested in Bitcoin mining companies the minor mag brings you free data and analysis from all major Nasdaq listed Bitcoin mining operations to know who stands out check out visualize metrics and data dependent stories at the minor mag Welcome back to the mining pod. Dennis is joining me today. Dennis Porter. Welcome to the show. How are you today? I'm doing excellent. Just coming back from a break. So are ready to dive into a jam -packed week of back -to -back calls Yeah, nice and tan back from your travels, right? Yeah, this is as tan as I get too So it's like, you know, ten days ten days in the Sun and this is as good as it gets So just everyone's prepared for that Are you ready to jump back into the Bitcoin grind or did you like really stop when you were vacationing? I oh, I never really truly fully stopped working the tweets keep coming, huh? Yeah It's an unfortunate byproduct of working in a 24 -7 365 non -stop nascent ever faster moving Industry that is Bitcoin Bitcoin mining when it combines two crazy worlds the one that I work in which is Bitcoin Bitcoin mining side which is the 24 -7 365 thing and then it's the Political realm which is just a total mess all the time. So it's a great combo. Yeah, I remember talking I want to stay sane Yeah, exactly my point. I was about to make you took the words out my mouth I remember talking to you like a year ago about the political side of things I was like, I don't know why anyone would ever want to get in that world at all. You're like, oh, I love it I love the I love the pool. I love being in the midst of it and still today don't get it Probably won't ever but I'm glad there's people like you who care about it And we you know agree on most things when it's firstly when it comes to Bitcoin mining so glad that's there Okay was transition over to Satoshi Action Fund. So you're the president and CEO you founded it. It's been two years Or so, it's a little over a year. We launched in June of last year and I am yeah I'm the president CEO I say CEO and president of Satoshi Action I'm there are two organizations now actually one is Satoshi Action Fund and one is Satoshi Action Education one I'm the CEO of and one of the president of so for simplicity's sake we just say it's all under the Satoshi Action umbrella But yeah, it's been going really really well We've had a ton of success and I'm sure we'll jump into that But I launched that in June of last year and we've been off to the races ever since Yeah, let's go into a little bit and then we have much more talking to show specifically We brought you on to talk about all the recent headlines with like rural Bitcoin mining and like the pushback We had a New York Times article about that there's some stuff in Arkansas going on So we'll get to that probably towards the second half of the show But let's talk about Satoshi Action Fund some wins recently and then maybe like a little more Flushed out what you guys are trying to to work on is like the product if you could say that for I guess a lobbying organization Yeah, yeah I mean it's good and that's that's probably one good area to start though with when it talk what comes talking about Satoshi Action is The one big difference between us and let's say like a lobbying organization or even a trade association Is that we don't we don't actually like do most of the lobbying. In fact, we hire lobbyists and we don't have members We have donors like more or less the premise of Satoshi Action Is that if you believe in the mission that we have pursued which is to make the United States? One of the best places in the world to be a Bitcoin miner or to be a Bitcoin er Then you want to support us if you agree with you know having the opportunity to stay here in America That's thriving off of this new technology versus being forced to move abroad You know that again is why I created Satoshi Action I think it's why people buy buy into the vision and the mission of what we're doing but we're very very structured very very different from from any of these other organizations that you might see out there and Once we launched Satoshi Action, the first thing that we wanted to do was try to go out there and show Right off the bat. What could we do? How could we be successful? How could we show that we can be effective because one of the most dangerous things that you can do with a political organization is You know get out there do all this, you know, make all this noise and then you don't produce any results You can do that a couple times you can even do it for years But eventually people will grow tired and they will move on and they will want to hear from someone else They will want to see someone else produce results There's definitely two the unfortunate part about politics Is there sort of two things you have to do one is you do have to produce results and the other is you have to? market your results market even what you're trying to do so that you can get people to buy into that they should buy into what you're trying to accomplish and fund essentially fund your operation because 100 almost 100 percent aside from our like You know, two three little s19 miners that we have plugged in that were donated to us The vast majority of our money comes from either donations or people that we get to come to our events was essentially a form of a donation So we rely a lot on on our donors to support the work that we do on a constant basis But right away we wanted to make sure that we were proving to our donors that we were having success So we said, okay, what can we do? We we got to the drawing board right away We brought on Eric Peterson who is our current policy director. Who's a wizard on the policy world and We had my two co -founders Mandy and Syria and we sat down we were like, alright, what are we gonna do? We started crafting public policy model policy For the Bitcoin Bitcoin mining space and what that means is that we created sort of like this like, okay here is a Example of a bill you could pass in your state that helps you advance this industry You know what we would do is we'd go in we'd say okay We have this great bill that we wrote up and we think you should pass it It'll really help you and they'll say like, you know, why would you want me to do that? Like we go in we pitch we say okay Bitcoin mining is great for jobs Great for local investment grid stability environmental cleanup the ability to enhance green and renewable energy projects really any energy project But policymakers particularly like when you can help solve some of the problems with green energy And then we win then we give them that bill the most popular of those bills that we did We know we have four of them Two of them have sort of moved or I should say three of them have moved around like have been introduced Or been worked on at the state level So far only one has passed into law which is a very big accomplishment but not to say only one but yeah I'm pretty yeah, it's pretty big deal Yeah, just one. It's just one of dates. So yeah so in then, um that bill ended up being called our right to mine bill initially originally was called the Digital Protection Act and then it transformed into becoming the rights mind bill and essentially that bill just protects Bitcoin miners from various forms of discrimination We saw real -time discrimination taking place across the country and we created real -time protections for that form of discrimination And we ended up being able to pass that bill into law in two states, Arkansas and Montana in fact in Montana is one of the states where Two things happen one. We actually saw some of the discrimination taking place where I don't know if you heard of the Missoula County there Where they changed the zoning laws and they like went drove a twenty million dollar bank when mining operation completely bankrupt because of it so Completely wiped them out all because they were concerned about things that were not true about Bitcoin mining, you know environmental concerns Oftentimes we see at the local level not necessarily in Montana But a big one is a concern is around Chinese mining particularly CCP mining I should say not Chinese owned but just that they're concerned that the CCP controls them So we saw real -time discrimination taking place in Montana We solved that problem the other problem. The other thing we discovered while we're there that we learned is That we can add things to this bill And we'll get into sort of like where we got to from that point But it was an important moment in the history of Satoshi action We added in a ban on any additional taxes on Bitcoin when uses a form of payment Which is critical because in the state of Montana, you know If you let's say you sell me a car like they'll tax that like peer -to -peer transaction Let's tax it like right off the top. So if I just sell you some Bitcoin or pay you in Bitcoin They would do the same thing. They'd be like, oh are we you owe us a tax for that? So we banned that which was great. And um, yeah, we'll talk about a little later but that was our big initial success huge success a small tear came down my eye when I When I passed my first bill into law Eric was like, you know done 10 ,000 times So he didn't he didn't really care as much but it was it was a big moment But I was like, we've done it. We've done it, you know, like he was like, ah Alright now I'm time for the next one right? So yeah right to mine. How'd you guys come up with that? It's like a very it's very catchy right and it's hard to argue against that Yeah, I don't know. I just can't use Brilliant top ahead. Okay, I came up with it sent it to I sent it to someone and said hey You should call this right to mine. I didn't even we didn't publicize it a really large news account I said hey just call it right to mine. That makes more sense. Yeah, and they did and then it just took off. Yes It was interesting for sure it's very amenable in a good way Okay, so you guys have passed some bills you're creating like this donor network to be able to to move it forward You've told me about a few wins here. I want to hear about some of like the obstacles which you already kind of alluded to so and we'll get to that later in the show the discrimination which we're seeing pop up right now, whether it be Chinese Bitcoin miners who are being Unfairly maligned for being associated with the CCP or not. And then also just like other Bitcoin miners who are unwelcome in certain areas But to the obstacles, what are some things that you've sort of like learned about why you come through this process creating Satoshi Action Fund and moving forward into these different these different State houses to lobby on behalf of Bitcoin Yeah, I would say that an overarching theme to the work that we do is that Things can go wrong very quickly and can be can be unrecoverable. They can be recoverable, but they can also be unrecoverable You know politics is very much like the real world so when real -world actions occur, there will be Consequences or there will be you know, either good or bad, right? You'll have good things or bad things happen because of real -world actions I'll give an example of a positive real -world example that Leads to us to do where we are today having a lot of success and that is the current consistent worry and fear around central bank digital currencies, so for some reason Which I definitely am aware of I Can't share too much on the story but definitely aware of a lot of Americans became very very concerned around central bank digital currencies and so Eventually, what happened was you had governors across the country including Governor Noem and Governor DeSantis eventually Working to ban central bank digital currencies at the state level There was this big huge kerfuffle around it and everyone was like doing everything they could to like stake their claim Literally Governor Noem took out like a steel Stamp of like a veto stamp and was like like stamped it into the bill. Like it was very it was very cool Actually, I loved it. Um so all of a sudden this like firestorm picks up where central bank digital currencies become this thing that Generally, I would say conservatives are against or Republicans are against but like really really opposed to like hyper opposed to it more so than I have seen anything in the The crypto space broadly I would I would consider CC central bank digital currencies to sort of be adjacent to the to the crypto space and because of that fervent Fear and concern around central bank digital currencies we've actually been able to use it as an effective way to demonstrate the value of Bitcoin because What happened was initially when they said Oh central bank digital currencies are a problem people started to say oh Well Bitcoin is a digital currency Is that also going to have the same problems as a CBDC and of course, we know we started education right away No These things are like way way different and then we just started to realize that it was best to classify them as polar opposites because they literally are like one is You know authoritarian sort of at least you when used on the retail level go ahead Yeah, send a CBDC between a bank or an institution. I don't I don't care at all force it on individuals In the United States without proper regular regulations and regulatory frameworks and then all of a sudden you have something that could be used in a way that you know is Sort of unimaginable to some extent to manipulate human behavior. So We started saying okay, these things are opposite and now when we're going into these states and we're saying okay, you should pass this bill It's pro Bitcoin. Also, it's anti CBDC people are like, oh hell yeah, let's go like we want to pass that bill So that's what that's one positive example of like how real -world things have had a really positive impact on what we're doing There's a lot of headwinds around creating or doing anything that you can to oppose CBDCs and so and as we pitch Bitcoin Bitcoin mining and You know all of our digital asset policy where there's always that thought in mind of how can we tie this into? Concerns around CBDCs which are valid and are linked We are not making some sort of leap here Bitcoin and CBDCs couldn't possibly be more more polar opposite. Gotcha Tell tell me about the some other stories Involving I have one video in mind of you going to Montana and speaking in front of Yeah, and there was someone before you who was just like going off and like kind of rabid It was good. And then you came in after and like kind of calmly presented some is Counter information this typically how the process is? Because I just think you are basically working in like the Parks and Rec version of Bitcoin. You have to like go deal like these Officials and like they don't know anything about it and they're like China bad Bitcoin bad That's that's my understanding every time I see this which is a really unfair characterization of it, but it's also it's stuck in my mind So lay it on yeah. No, it's it's you got you got it. You nailed it, right? Is the funnest example of Just how wild that can be out there So we go and we are getting ready to testify and every time we testify You know Especially because it's around Bitcoin mining we do get some sort of pushback usually at the local level typically from environmental groups Which is unfortunate because there's so much. I mean everybody knows in the mining space There are so many benefits from the methane component to balancing renewables to balancing the grid there's so many benefits that the You know Bitcoin mining space can offer to those that have come from even staunchly environmental the staunchly environmental realm so Needless to say there was two Opponents strong opponents to the bill one was a gal from an environmental group. She didn't get too out of control but the second guy he was a young a young gentleman from from Montana not originally and he worked at UCLA and he Was very opposed to Bitcoin and he started to go on this like speech like this really long drawn -out like monologue and Eventually at one point he says that that Montana will will like Die on the cross of Bitcoin essentially, right? It'll burn on the cross of Bitcoin I can't remember the exact word he uses but it's like very extreme very dramatic and Then he goes on to say that people are dying because of Bitcoin mine houses. I wish the camera was on me There's these cameras in every single Hearing room generally speaking every state Capital building when you're testifying in front of these hearings like they have cameras just like DC but obviously a lot lower tech But I just remember when he said that people are dying because of it He was so people are dying because of Bitcoin. He was so serious about it I just remember looking down my notes and just my face looked looking up at him was like So confused and I just wish the camera would have caught it because it would have been a perfectly it would have been a meme Like forever, but yeah, fortunately, there's a lot of great policymakers out there and actually, you know sometimes you love to rag on these guys, but You know, they do a good job a lot of these guys. They do a good job one guy asks him he says You know, he tries to run out actually that's part of the stories and this is important part of the story So let me backtrack so he finishes his speech. He tries to leave right away, which you don't do never do very rude tries to leave And as he gets to the door one of the people was like hey before you go even you usually we do questions at the End let's have you do some questions right now. We want to be able to talk to you a little bit Bring him back up to the podium He's like now son You made some pretty egregious claims there around Bitcoin mining Do you have anything to back up the statement that Bitcoin mining is killing people and the guy just is like well I don't have it here with me, but I can I can get it to you and He just like this this guy just is like, I mean you gotta remember this you see you sell a guy's like 22 years old he's a kid. Yeah Great great on him though. Great. Love the love the getting active at a young age, but he's just like son if You're gonna come in here and make egregious claims. You better have something to back it up and The kid just was like so upset like cuz he just got he's gave this great speech And he wanted to just walk out like drop the mic and walk out So he just blew him up I was anyways, it was it was definitely the most entertaining moments in the entire history of my experience And it's only been a year and a half So I I'm really looking forward to other stories that I can tell in the future Please catalog all these because I just like very Specifically remember watching that entire video and laughing pretty hard because it was it was pretty funny Okay, let's keep diving into this a little bit more. What have you been seeing in a lobbying front? That's been sort of helpful that you would encourage other people to look at we've had the call lines We've had the emails. We've had people going speaking to people I Think for the Bitcoin community we can all take like a breather and be like a lot of what we've been doing has not been working What has been working to speak with these people in state houses who need to learn about Bitcoin because Bitcoin's coming their backyard What has been working from your year and a half of doing this actively and putting boots on the ground? The things that have helped the most are Well, first of all getting clear of FTX collapse. I mean that is this is what I just tweeted this out yesterday. It's like I Still can't believe that we passed two bills into law in the middle of that collapse and it was a very testy time in the space so getting clear of FTX is Only gonna help us the other is just the way we Approach the conversation around Bitcoin and Bitcoin mining the way we pitch it is that we really focus on the benefits We do not talk about the technical side We do not try to explain how Bitcoin or Bitcoin mining works We give a very brief overview if they want more information Of course, we will dive deeper with them and we are very good at doing that you always have to be ready for those questions, but It's very important to just keep it as simple as possible Most of these policymakers have not made up their minds at all about any of this stuff They hear it in the news over there. They're their nephews trading crypto You know, like they're it's like they've got stuff all over the place, you know, you got some hardline anti -crypto anti -bitcoin Democrats You know, you've got some vocal Republicans, but they're not really like hardline yet. Like there's just not a lot of like really built -in statements or viewpoints on this on this technology and So what we do is we just go in and we say okay like Out of everything you've heard a lot of some of it is true some of it is not but most importantly what we're here to do is try to explain to you the value of Bitcoin mining for your state so we pitch Bitcoin mining and we it's a five benefits I mentioned earlier it can bring jobs local investment great stability Environmental cleanup and the ability to enhance green and renewable energy projects and out of those five No one ever says anything bad about it But out of those five usually a policy maker will say oh What kind of jobs does it make or like, you know, oh I I didn't know it could clean up the environment it's like an instant like gateway to being able to have a conversation about something they care about because usually you're hitting on something there like if it's not the economy if It's not the environment if it's not energy like at the local state level like those topics are huge Because the vast majority of energy policy is set at the state level. The vast majority of job creation is done at the state level And then a lot of this these like sort of decisions around how much green energy they're going to be building done at the state Level a lot of environmental stuff done in the state level Yeah, DC throws around big pockets big buckets of money at everybody and they certainly have regulations But a lot of these decisions are made by local state policymakers And so they care if they care a lot about these issues probably themselves, but also their voters care a lot about those issues Particularly the jobs one comes up a lot because we we know in the mining space that we create a lot of rule And jobs and jobs and economically depressed zones where it's very difficult to create jobs nearly impossible to create like long -lasting jobs So the moment you say oh we create jobs in rural areas. They're like boom the brain turns on like well How do you do that? Because that's really important to me As an example in New Hampshire, we've I've been there a few times now In the there's an area called the North Country. There's like no jobs It's a whole thing like they call it jobs for the North Country is like one of their pitches So when we go there and we talk about Bitcoin mining, we're like jobs for the North Country jobs for the North Country It's because it's true and it's something they care a lot about so that yeah, that's that's generally how we pitch it We do not talk about Too much about Bitcoin in the past We haven't talked too much about Bitcoin to the extent that it's like oh you're gonna need this because it's good as hedge for inflation or XYZ like we sort of stay away from that and focus on things that Like mining that we know will deliver value now, we've expanded our policy. We've expanded the way that we that we talk about it But we haven't gone into this new legislative cycle yet So yeah, that was all done everything that we just talked about that we've done and that we have done It was done in early 2023. We prep for it in early 20 or in late 2022 Now we are prepping for 2024 in late 2023 So we got we sort of have an idea of where things are gonna go and what we're gonna do and we're in a really Great position. In fact, we could be active in up to 20 states we probably won't be active in that many but we have the opportunity to be active in up to 20 states and as a Form of context we only introduced law or excuse me introduced policy in seven states, so we were only able to actually convince seven states to Try to pass our bills Whereas like this cycle, I think that number will be closer to like 10 or 15 only seven states That sounds like a lot of airline miles to me so it can be yeah. Yeah, this seems seems like a lot of work Okay, so we got a lot of that laid out Let's go and talk about some of the more aggressive headlines We've seen recently and we're speaking about the New York Times article that dropped to believe a week ago for listeners Check out that in the show notes will include that I think we also talked about the news roundup last week Essentially, there's a Cheyenne Wyoming based Bitcoin miner They are owned and operated by a Chinese national group that has some ties according to the New York Times to the Chinese Communist Party essentially the story boiled down to Microsoft is near this plant it's Bitcoin mining plant the US government has a missile siloed nearby an Air Force base nearby and Microsoft is worried that this Bitcoin mining base could be used for foreign intelligence reasons Then we also have the story down in Arkansas, which we'll get down to in a second But let's start with this first one this this thing with Chinese nationalist groups Bitcoin mining obviously to to you and I is more of an energy game and it's very simple, right? It's just like plugging machine. Let it hash I'm gonna collect some Bitcoin and then there's those five benefits you talked about to outsiders though. They're not thinking about that They're thinking about all these people coming into rural areas and even foreign investment Has that been a struggle when you've been talking to lobbyists groups or talking to people in state houses have they brought this up to you? Yeah, definitely it's um, it's a major concern I would say Most Americans like average American especially rural Americans care a lot about the encroachment of the CCP on on the United States from from a physical perspective so like from a geographical perspective they don't like the idea of a CCP owned controlled or even highly influenced business You know being next to them and then definitely not being in and around me sort of military installations I believe the location in Cheyenne is near a Also, is that the one that's also near a nuclear plant or a nuclear missile site as well? So yeah, something like that Yeah, so I share the concern like that I think the premise is like Do you want foreign adversaries to be in and around any sort of? Military installation any sort of critical infrastructure You know generally I like my stance is like I'm very like pro people coming here starting their businesses You know trying to accomplish the American dream, but at the same time We also have to be concerned about whether or not those businesses have strong links to You know the CCP or you know A lot of people care a lot about also like Russian oligarchs and their ability to influence America American politics American infrastructure you know the big argument today is that the electrical infrastructure is a critical part of national security and That we need to be doing everything we can to protect it and I agree I think that's important all of those things are important that we should we should keep an eye on them The the thing that I don't like is when the New York Times tried to spin this article as if like Bitcoin mining was some sort of like really powerful tool in the hands of the CCP like next to these sites I don't think it really matters what business was there.
Fresh update on "two halves" discussed on Bloomberg Daybreak Europe
"From Bloomberg, you don't just get the story, you get the story behind the story. How your EVs battery may not be as green as it seems. Why a decrease in global birth rates could send countries scrambling to increase immigration. You get context text and context changes how you see things, how you change things because context changes everything. Go to Bloomberg dot com to get context. Mm Bloomberg radio on demand and in your podcast feed on latest the edition of the Bloomberg intelligence podcast, a conversation with BI's Deborah Aiken on the outlook for luxury goods. So into the first half of the year we still had a very robust U .S. market. We still had tourism boosting Europe as well as domestic, decent numbers in Japan. And we did see China reopening from January and traveling more so from March, but was it mostly to Hong Kong, Macau, Japan, Hainan and other parts of Asia. And so we missed them come in long haul and more than that as we've pushed forward through the end of the first half and into the beginning of the second half. We've really seen the macro backdrop, the geopolitical backdrop fall away and much more restraint sentiment on spending globally. What are the luxury companies themselves saying
A highlight from AFC Favorite & Our Midseason Awards
"Tis the season of making the perfect wish list and the perfect playlist with Bose Quiet Comfort Ultra Earbuds and Headphones. Breakthrough immersive audio uses specialized sound to bring your fave holiday classics to life and world class noise cancellation ensures a not so typical silent night and an epic holiday party of warmth. It's everything music should make you feel taken to new holiday highs. Visit Bose .com forward slash iHeart this holiday season and shop sound that's more than just a present. The one thing we can never get more of is time or can we? This is Watson X Orchestrate AI designed to multiply productivity by automating tasks. When you Watson X your business, you can build digital skills to help human resources spend less time generating offer letters, writing job recs and managing schedules and spend more time on humans. Let's create more time for your business with Watson X Orchestrate. Learn more at ibm .com slash orchestrate IBM. Let's create. Hey folks, you want to tackle new floors in your own home? Let me tell you about LL Flooring. With over 25 years as the flooring experts, LL Flooring is here to coach you through the process. You got to find the right floors at the right price for your project and they're gonna make it easy. As easy as 1, 2, 3 floor. Whether you're looking for hardwood, waterproof vinyl, laminate or tile, LL Flooring has a lot of family floors to match. They even offer professional installation. Visit one of over 400 stores nationwide or shop online at llflooring .com. That's LL Flooring, every step covered. Hello everybody and welcome into the Monday morning quarterback podcast. I am Matt Verderam alongside Gilberto Manzano as always here in the midweek edition of the show. We've got a lot to get to because last week might have given us the best slate of games we're gonna have all week long. We had four games that everybody thought were gonna be great and as it turned out, three of them were pretty good. One of which was a blowout. We'll get to all them here in a minute then of course we have our week 10 lines of five games that we're gonna focus on from our SI Sportsbook odds and then from there we also have the midseason awards that we have to get to as we are halfway home in the 2023 NFL season. Before we get to all that, let's welcome the other man of the tandem, Gil, what's going on man? How you been? Yeah, I'm doing well. Matt, as you know, I like to brag about my wins and complain about my losses and last week was a good week. I went 12 -2 with the picks but I am pretty disappointed that I betted against Joshua Dobbs. What a game, right? Unbelievable. I'm annoyed. You went 12 -2, I went 11 -3 and I feel like 11 -3 should have given me some bragging rights for the week and yet it did not happen. So I will say on the whole, our group, yourself, myself, Connor, Orr, Albert Breer, Mitch and John our editors and Claire, another editor of ours as well that does great work, I feel like everybody's picks have been really pretty good this year. There are some years you look at picks and go, oh my god, I'm barely above 500. Right now, I've got the sheep pulled up in front of me, so the best record is Albert who's 95 -41, went 11 -3 last week and then after that, Claire Kawana is right behind him with 92 wins and then in gold it says 87 wins and then it's myself, yourself, John and then Connor Orr at 75 and 65 pulling up the rear, so Connor's got to step up. Connor is bringing down the credibility of this entire group. That's not bad for last play, so 10 games over 500? His thing is, we all do our upset picks and he's done 50 upset picks. I think I've done like 16. So that's part of the reason, but yeah, the picks are good and of course people that want to can read those over at SI .com, we put them out every week. The editors are nice enough to put that together. All right, so last week, like I said, we had some great games. We had Chiefs Dolphins over in Germany and then we had Ravens, Seahawks, which we thought would be a great game, turned out to be a massacre, Late Window, Cowboys, Eagles, which was one of the wildest games I can remember seeing in quite some time and then of course we had Bills, Bengals at the end, the Sunday night game there and so like I said, we'll get to all those. Let's just start with how the day actually started. Over in Frankfort, Chiefs build up a 21 -0 lead on Miami. Miami comes back, makes it 21 -14. They had a couple drives at the end where they could have tied the game, even taken the lead if they went for two. They got into Kansas City territory both times, but both times ended up going backwards, lose the game. They dropped to 6 -3. Chiefs, of course, improved to 7 -2. Both teams go on their bye weeks. I'll So, let you set the stage here, Gilberto. What is it to you, is it more about the Dolphins that game or is it more about the Chiefs? It is more about the Dolphins because they can't beat a team with a winning record and don't tell me the Chargers are .500 and the Dolphins beat them. They barely got to .500, so I am concerned about the Dolphins, but I don't want to let the Chiefs off the hook, Matt, and I know you've been writing about this, but the Dolphins have been pretty average. It got to a point where now Mahomes is saying, yeah, we sting. We're pretty bad. Go talk about the defense. That defense is carrying us the entire season. You know what's kind of funny, Matt? This season, it feels like the team with the best defense might win the Super Bowl, and the Chiefs still have the best defense right now, it feels like, so it's kind of a weird irony, but you expect better from Mahomes and Kelsey, but the wide receivers, they can't create separation. And it wasn't for that awesome fumble, reverse play, whatever it was from Cook there. They would have probably lost a game there, but what's going on with the Dolphins offense? Averaging 17 points against the Bills, Eagles, and the Chiefs, so I go with the Dolphins there because I feel like the Chiefs could figure it out. It's halfway point in the season, they're just cruising by, and I think something will finally break out there, but I'll let you maybe talk about the Chiefs a little more. But the Dolphins, man, you're supposed to be the most explosive offense, highest scoring, and you can't even get a first down. It's like, do they have too many home run hitters? Too many touchdown makers? How about some chain movers? How about some first down people? How about some quick outs, and just get four or five yards, and everything just feels like a home run, and they don't adjust, and they don't kind of make end game adjustments because credit to the Chiefs, and Tyreek Hill said it too, they covered, there was great coverage on Tyreek Hill, so it's kind of one of those games where like, why not get a tight end that can help you out here? Why not get some guys that can make it easier? How about go to Raheem Oster a little more? He had like 12 carries, and he's averaging 7 .1 yards per carry, so I don't know what's going on with Mike McDaniel on two, and two was pretty bad in that second half there. Yeah, he had the touchdown to Cedric Wilson, but make some adjustments, Mike McDaniel, and stop going for the home run ball, Tua. Yeah, look, first of all, I agree, I think the Dolphins are the bigger storyline coming out of the game. Like, they've now played three really good teams, and they've lost all three of them, and they came back against Kansas City, but they were getting killed in that game too. They were 21 -0 midway through the third quarter, and frankly, if Chris Jones doesn't take one of the dumbest personal fouls you've ever seen, it's probably 21 -7, and we're having a different discussion. I think your point though, man, is good with the Dolphins in the sense of like, there's timing strung off. They're just dead in the water. They have no answer for it, and we've seen that now multiple times, this year and last year. Kansas City basically said, we're going to get up on the line of scrimmage, we're going to get our hands on Tyreek Hill, we're going to reroute them, we're going to cause problems. Look, who knows them better than the Chiefs, right? I mean, they know what can cause some issues, and they actually went back and watched practice tape of a couple years ago to try to figure out how to stop them. They went back and watched how they worked against him in team drills and practice, and tried to figure out some things, and it obviously worked. But from the Chiefs' angle of this, listen, the offense is a disaster, okay? They had 46 yards in the second half of the game in a turnover. But they're 7 -2 in the number one seed in the AFC because the defense is incredible, and they're just shutting people down left and right. If you go and look this year at teams that have played the Chiefs, nobody's thrown for 300 yards. Kirk Cousins came the closest. He was up in the higher 200s because he threw a million passes. But if you look at Gough's numbers, 253 yards, one touchdown, which was a good game. That was without Chris Jones that week. Trevor Lawrence, they didn't score a touchdown. He threw 41 times for 216 yards. Justin Fields threw for 99 yards. Zach Wilson, of all people, had one of the best days against him, 245 and two touchdowns. That game. wild And then you had Cousins, who went for 284 and two touchdowns on 47 attempts. Russell Wilson threw for 95 yards one game, and in the other game, the game that they won, he threw for 114. These teams, two I didn't throw for 200 yards. Nobody's throwing for yardage against them. They're second in the league in sacks, the first in pressure rate. They've got two elite corners in McDuffie and Sneet, and so, look, the question with Kansas City is obvious. Can this offense get going? Because if the offense gets going, they're probably the best team in the NFL. I mean, if they get even borderline top -10 production out of that offense, forget it. They have the week now to scout. I was texting with some people around the team, and I think there's a general thought of like, look, it's a bunch of little things that are throwing off the whole thing. Question is, how many of those little things can you fix in the next couple of months? The good news is you have Mahalem, you have Kelsey, you've got a good offensive line, you've got Andy Reid. The bad news is they have you and me at receiver. So, I mean, that's the question. My guess? They'll fix it to an extent. I don't think it's going to be a unit that you'll look at and go, oh my God, they're incredible. I think it's probably going to be a top -10 unit right around there at the end of the year. They're in the mix, but yeah, I agree, man. The Dolphins are definitely the thing that you'll look at right now, and the team you'll look at right now and go, all right, you're going to make the playoffs, but what are you going to do when you get there? Are you going to beat somebody good, or is there going to be a one -and -done? Matt, let me ask a quick question, because you watch this team closely, and I think I watch them good enough because they're always on prime time, but all these analytics people are saying, look at the EPA, look at the DVOA. They're top five in offense in all these categories, and I'm like, I get it. You keep showing me the numbers, but I keep watching the games, and the wide receivers are not that great. They're not scoring points. They had nine points against Denver, so I don't know what it is. Maybe when you said disaster, I'm like, okay, cool, because I was trying to play it safe. Maybe they're average because there's something here that I'm missing with the DVOA and the EPA. They're a disaster by their standards. By anyone else's standards, yeah, they're probably still an above -average offense, but by their standards, they're a train wreck. I will say this. People forget it because they won the Super Bowl last year. They were somewhat of a train wreck offensively the first half of last year, too. They had a bunch of games last year. They lost to the Colts last year. They muddled through a Chargers game that they ended up winning because of a pick -six that went 99 yards the other way. They struggled offensively against the Bills. They ended up beating the Raiders on a Monday night last year, but they were down 17 -0, and they needed to come back in that game. They were not good offensively for stretches of last season, and then they're them. In January, they cranked it up, and that was it. Even on one ankle, Mahomes did enough to win. But this has been the year before that. They were 3 -4 at the beginning of the year. They couldn't score a point in that season. That was the year Mahomes played, again, by his standards, not by anybody else's, but by his standards. He played poorly. You go to 2021, and they lost in the AFC title game. They were 3 -4, and then people say, oh, well, then they came out of it. They did in terms of that they won games. Their point totals after that 3 -4 start, they won 20 -17, 13 -7. Then they blew the Raiders out, scored 41, 19 -9, 22 -9. The last couple of years, they've had stretches like this, but by their standards, they're a disaster offensively right now. By the NFL's standards, they're probably somewhere between 10 -12th in the league offensively. So, got to take it for what it's worth. Yeah. All right. Let's get to the next game here. The Bengals and the Bills will go right to Sunday Night Football, speaking of a team that by their standards is an offensive disaster, despite what EPA will tell you. I'm not here to bag on the analytics, guys. I will tell you this. I'm a big eye test guy. You watch the Bills. My eye test, I don't care that they're fourth or whatever in EPA offensively. They have not been good over the last month and change. I don't think there's any way to say that otherwise. They go to Cincinnati. They made it a little bit closer at the end, but they were down 24 -10 with a few minutes left. They score a touchdown. They get the two, but they can't get the ball back. The Bengals now, 5 -3. Winners of four straight playing like we expected them to play at the beginning of the year. The Bills are 5 -4. It has been a struggle for them. They started the year 3 -1. Since then, they're 2 -3 going in the other direction. They have a very hard schedule. We'll get to that in a moment. What was your main takeaway from that Bengals -Bills game? Just the difference in quarterback play between Joe Burrow and Josh Allen and how to cover that game. I wrote about it. I kept seeing Joe Burrow moving around the pocket and extending plays. Then I look at the boxer, I'm like, wait, he has four rushing yards? I thought he ran for a bunch of yards. I know he had that one where he had the first down kind of signal. It's just when pressure comes, he knows how to move. It's smooth. It's not like he has to speed it up. He just says, okay, cool. You're right there, but I'm still going to do what I have to do and just extend plays. Matt, when it's Drew Sample and Tanner Hudson and Erskine Jr., Trenton Irwin, these guys are making plays. Then you look at Josh Allen, when the pressure comes, it looks difficult. It's chaotic. He has to kind of see what's out there and then, okay, force a throw or miss a throw. I get the Bengals defense is better than the Bills defense, so Burrow had maybe an easier time, but there was pressure. He was fighting pressure. I get it. The second there is not as good there, but it just seems harder for Josh Allen.
Fresh update on "two halves" discussed on Bloomberg Daybreak Europe
"On the 10 -year, we trade up two basis points at 4 .18%. The two -year yields at 4 .59%, also up a couple of basis points. In Europe, investors are pricing in almost a 90 % chance that the ECB actually actually starts cutting rates in the first quarter of 2024. Having said that, we continue to see a rally in stocks. MSCI all -country world index up by a tenth of 1%, 1 % gain for the MSCI Asia -Pacific index, and stock futures for Europe and the U .S. also in the green. U .S. stock swifty features up two tenths of 1%. All that of is despite, of course, the German factory orders numbers that came in. We saw a big decline, an unexpected fall in October, really just highlighting how difficult the manufacturing picture is in Europe. In other markets, let's look at the currencies. Bloomberg dollar spot index slightly softer this morning. Eurodollar trades at one spot 0785, so also down a tenth of 1%. Brent crude at $77 .33 the barrel, and Bitcoin at just under $44 ,000, pulling back seven tenths of 1 % after an enormous rally over the course of this year, 160 % higher over 2023. That is your Bloomberg Radio Business Flash. The latest on the markets, Katie. Thank you very much, Caroline. look If we at the fact that investors are betting that Europe will lead the world's largest central banks on interest rate cuts after one of the region's talkish policymakers, Isabel Schnabel described a slowdown in inflation as encouraging. Joining us now is Sabrina Fanish, senior economist at Pictet Asset Management. Welcome to the show, Sabrina. In September, you talked about the European economy having been resilient, but the second half of the year outlook darkening. If we look at now your view on the economic performance, what is your view on that and also the pass of ECB rate hikes? Good morning. Thank you very much for having me. So, yes, indeed. And this is what we can see in age two in the second half. This is where we are. The economic activity remains subdued in the eurozone. In fact, the eurozone has been flirting with recession since the end of 2022, which is the outcome of the transmission of the monetary policy. We don't forget also that Europe has been hit by the war in Ukraine with the energy crisis. So the transmission of the monetary policy has been amplified by the shock and leading to this very subdued economic activity. We expect the economy to remain subdued in the first half of next year with a half 2024, of mainly on the back of private consumption that should benefit from positive real wages and which is in line with the disinflation and at the same time wages continuing to rise. Do you think the ECB will be first among the major central banks then to to start cutting interest rates next year? Well this is not what we have in our baseline scenario. Actually we expect the England Bank of to be the first one to cut rate in May this year, followed then by the Fed and at the end we have the ECB in the second half of this year for both the Fed and the ECB. The reason being a link to inflation. We think that inflation clearly is in a positive trajectory. It is declining, mostly reflecting base effect. Now that most of the supply shock is behind us, we have to focus on domestic demand and the easing of the labour market condition. On this front, labour market conditions remain pretty tight and for the rest, we will see a gradual decline of core inflation given the persistence of services prices. In that case, we think that the ECB should maintain rate at restrictive levels for a sufficient long period of time in order to bring back inflation to 2 % target. If we move to discuss the US economy, Sabrina, US job openings pulled back in October to the lowest level since early 2021. What does this really tell us about the state of the US economy? The US economy has clearly surprised on the upside. Conversely to the Eurozone, the transmission of the monetary policy hasn't been really reflected. The US economy has continued to benefit from strong buffers. But here we expect a change in the momentum. growth We clearly expect the US economy to decelerate quite significantly from a strong 2 % to below potential next year and notably on the back of much weaker private consumption and reflecting the absorption of those excess savings. As you mentioned regarding the labour market conditions, given the fact that growth should be below potential, this should lead to an easing of the labour market condition. Hmm. I think it's interesting then that you're basically saying that markets have totally overdone the rate cuts then, as for next year. How and when does that unwind? Markets for the ECB are pricing March. Already Blackrock and Goldman have started to push back against those sorts of wages. I mean, how have the markets gone so far in pricing in such aggressive cards? I mean, you're saying the Bank of England is going first, but there's only like 50, 60 basis points of cuts for the BoE price there. 130 for the Fed and 120 or so for the ECB. I think it's because clearly the fact, if you look at the US, so US has surprise on the upside and we have reached a peak in terms of economic activity in Q3. And clearly this is not sustainable. So from there, it makes sense to expect the economic activity to slow down. And obviously, if you look at inflation, it's going in the right direction. If you look at the Eurozone, Eurozone has been pretty weak since the end of 2022 and you mentioned the factory orders in Germany, the manufacturing sector is weakening. But at the same time, we also have early sign of stabilization of the economic activity in the Eurozone with a gradual recovery in the second half of next year, notably on the back of recovering manufacturing activity. They are early evidence, at least when we look at sentiment, but just based on the current data that are really poor. So I think this is the reason why the market now expects ECB to rate cut and notably focusing on inflation that has declined quite substantially, which is now one fifth of the October last print of year, actually. Another topic that investors are so aware of at the moment are the elections that we have coming up. So in 2024, many countries will hold elections from the US and the UK, India, Mexico, Russia, South Africa and Turkey. Democracies usually get an economic boost as governments tend to spend the head of election to win over voters and central banks tend to hold off from hiking. What do you think the impact will be of these many elections? That's a very good point and you mentioned notably the US elections that are clearly important and which could be depending on what is going to be decided, whether or not we would see even higher fiscal deficit and therefore a boost or support for the economic activity and therefore slowing down the disinflation path. Are you concerned about government debt in Europe? Where are you most concerned about that?
A highlight from Solana is Winning Right Now | Anatoly & Austin
"Bankless Nation, I'm coming to you from Solana breakpoint in Amsterdam. This is the third breakpoint that has ever happened in the year 2023, and this one is a little bit different. The first breakpoint happened in 2021 in the second half of the year, absolute peak froth of the bull market in Lisbon, followed by the second Solana breakpoint in 2022 also in Lisbon, which happened right before the collapse of FTX. And here we are, a new venue, a new city, Amsterdam, for Solana breakpoint number three. And this one has a little bit different of a vibe. This one is deep into the bear market, perhaps coming out of the bear market, and the Solana community has been cultivated as such. As you would imagine, the people that went to the 2021 Solana breakpoint when sole price was over $200, a lot of them didn't make it. And the third Solana breakpoint, instead what you have left is the low level devs that comprise the majority of what I would say is the Solana community. Over the last year or so, I've dabbled with Solana, being Solana curious, I guess you would call it, mostly fighting, but I've definitely learned that if I want to learn about Solana, it's not going to happen through the filter that is crypto Twitter, or probably not inside of any of my Ethereum native circles either. But since I'm on my way to East Lisbon, I'm taking a flight here shortly, I decided to pop over a little bit early to Amsterdam to check out Solana breakpoint for myself. In this episode, I talked with Anna Tolley, the founder of Solana and Austin, of course, from the Solana foundation, just to kind of get a vibe check over the arc of Solana breakpoint, what this conference means to the Solana community and overall what people are getting excited about as it stands today in Solana and a totally is persistently busy, of course. So we had him and Austin for the first 30 minutes and then until they had to run. And so then me and Austin had a chance to chat about all of the different rabbit holes and things that are going on in Solana. I do my best to compare them to what people on this podcast might be familiar with in the Ethereum world. So for example, that they have Solana fire dancer. And in terms of significance, that's kind of like EIP 1559, or the Ethereum merge, at the Solana community are interested in. And so I do my best, actually, I do the only thing that I know how to do, which is compare evolutions and progress in Solana and kind of use Ethereum as a frame of reference just to gain my own understanding. And since you are likely a longtime listener of this podcast, it's probably useful for you as well. So if you are curious about what is going on in the state of Solana, or you weren't able to attend breakpoint, and you just want to kind of catch a vibe, this episode is for you with Anna Tolley and Austin of the Solana ecosystem. So let's go ahead and get right into that conversation with Anatoly and Austin. But first, a moment to talk about these fantastic sponsors that make this show possible, especially Kraken, a preferred exchange for crypto in 2023. If you not have an account with Kraken, what are you waiting for the bull market is about to get started and you need a centralized exchange like Kraken to buy some of your crypto assets. There is a link in the show notes to getting started with Kraken today. Kraken knows crypto. Kraken has been in the crypto game for over a decade. And as one of the largest and most trusted exchanges in the industry, Kraken is on the journey with all of us to see what crypto can be. Human history is a story of progress. It's part of us, hardwired. We're designed to seek change everywhere, to improve, to strive. And if anything can be improved, why not finance? Crypto is a financial system designed with the modern world in mind, instant permissionless and 24 seven. It's not perfect, and nothing ever will be perfect. But crypto is a world changing technology at a time when the world needs it the most. That's the Kraken mission to accelerate the global adoption of cryptocurrency so that you and the rest of the world can achieve financial freedom and inclusion. Head on over to Kraken dot com slash bankless to see what crypto can be. Not investment advice. Crypto trading involves risk of loss. Cryptocurrency services are provided to U .S. and U .S. territory customers by Payword Ventures EEC, PVI doing business as Kraken. Celo is the mobile first EVM compatible carbon negative blockchain built for the real world. And now something big is happening. Introducing the Celo Layer 2. It's a game changing proposal that's going to bring Celo's rapidly growing ecosystem home to Ethereum. Vitalik has shared his excitement for the Celo Layer 2 on the Celo Forum. So has Ben Jones from Optimism. But why? The Celo Layer 2 will bring huge advantages like a decentralized sequencer, off chain data availability and one block finality. What does all that mean? Rock solid security, a trustless bridge to Ethereum and more real world use cases for Ethereum without compromise and real world adoption is happening. Active addresses on Celo have grown over 500 percent in the last six months. With the Celo Layer 2, gas fees will stay low and you can even pay for gas using ERC 20 tokens. But Celo is a community governed protocol. This means that Celo needs you to weigh in and make your voice heard. Join the conversation in the Celo Forum. Follow at Celo Org on Twitter and visit Celo .org to shape the future of Ethereum.
Fresh update on "two halves" discussed on The Big Take
"Missed them come in long haul. And more than that, as we've forward pushed through the end of the first half and into the beginning of the second half, we've really seen the macro backdrop, the geopolitical backdrop fall away and much more restrained sentiment on spending globally. What are the luxury companies themselves saying about 24 in terms of China? Did they expect Chinese traveler to come long haul to Europe to North America? They do. If we look towards the September period, we're hearing from companies that there are more visa applications, more flight availability, more load factor availability into 2024. However, aligned to the rest of the global economy, there is more hesitancy on booking flights too far out. So some of our surveys carried out in September versus those carried out in June highlight that there's not so much, I suppose, not so much optimism for how much would be spent when they do travel. Hear the full conversation on the latest edition of the Bloomberg Intelligence Podcast. Subscribe on Apple, Spotify, buy it anywhere else you get your podcasts. Plus listen anytime on the Bloomberg podcast .com. Thank you. You're listening to the Big Take Podcast on Bloomberg Radio. I'm Nancy Cook. Today we're talking about why the American middle company. A report from Goldman Sachs says the odds of a U .S. recession over the next 12 months are now down to 15 percent,
From 5K Straight to Marathon: Angel's Incredible Running Journey!
"Today we are talking to Angel Kona. Let's dive in to Angel's running journey. Welcome to the show, Angel. It's nice to have you here. Hey, thank you, it's nice to be here. So how did you get started running? Tell me your backstory. Well, it was the end of 2019, and I was turning 30, and I was like, you know, I should get in better shape, and so I signed up for the local writing 4K, which is actually coming up again here this month. And I was running the 4K, and it was going pretty well, and I thought, you know, I should run a marathon. So I went home and signed up for a marathon, and then COVID hit, so the marathon got cancelled, so I stopped training. And then another marathon came up, and I signed up for it, but I figured it would get cancelled, so of course I didn't train for it. So, yeah, I've ran my first marathon with not really any training, and never really ran any distance before that, so it's interesting. Yeah, most people don't go from 5K to marathon, and definitely not no training to marathon. But you finished your first one? Yeah, it took a while, and I did run some in the meantime, but nothing even up to a half marathon. Now when was that that you finished the first marathon? That was September of 2020. Okay. All right. And you said you ran a local 5K, what's local for you? Where are you from? Here in Anchorage, Anchorage, Alaska. Most of the races I've run are in Anchorage area, although my first marathon was actually Kenai, which is about a three hour drive south. Okay. Very cool. How was that, the drive, and then I'm sure you stayed over, right? Yeah, I stayed over the night before, and the drive was nice. September is usually a pretty good time of year. It's pretty because all the leaves are mostly yellow, and there's not really any snow most of the time. Okay. But the marathon itself, I assume that running, I'd run a little bit longer distances, maybe nine miles or so, and I got to the halfway point of the marathon, and I thought, this is going pretty well. I'm doing okay. And what I didn't realize is the halfway point of a marathon isn't 13 .1 miles, it's about 20 miles. So the second half did not feel like the first half, and I was a little surprised by that, but it went okay. I remember thinking that from my first marathon too, I'm like, it felt really bad, the second half, my very first time too, so I'm right there with you. Now have you run? It's definitely not the same distance. I ran that, and then I ran my first half 13 days after that. And I really didn't think I was going to come back to running after that. I took about six months off running. Yeah, that's a quick turnaround. Wow. Yeah, that was overkill. Wow. But I haven't learned my lesson really. So you are still running? Yeah, I came back to running the beginning of 2021 because it was COVID, and I was bored, and there was a free local running group over at Skinny Raven Sports, which is, they do a lot of the running events here, and I ended up meeting some people there that made really good friends, and they're pretty much my family up here now. So even if I wanted to stop running, I can't, because that's where all my friends
Fresh update on "two halves" discussed on Bloomberg Daybreak Asia
"Menu is because interest rates are back up to reasonable levels where you can get a decent return and hopefully you won't get the destruction of principle that we've seen during this whole rate raising cycle. So it's possible to balanced have a portfolio that consists of your standard 60 -40 type of mix or a mix that has both bonds and stocks. It's appropriate for the investment objective. Do you we're think on safe ground now at least inflation wise when it comes to energy prices? When it what? comes to Energy prices. You know energy prices definitely have been coming down and there's reason that there could be further downward pressure on them. Certainly from a supply perspective the producers in the United States have started producing again and they've started making money and so they produce more. And that's putting pressure on the other supply areas who are trying to cut their so production reluctantly that they can maintain the price. So I don't think we're in danger of having oil prices skyrocket at this point. All right Thomas we'll leave it there. Thank you so much for being with us. Thomas Martin senior portfolio manager at Globalt Investments joining from Atlanta here on on the daybreak Asia. A look at markets on the way this is Bloomberg. Bloomberg Radio on demand and in your podcast feed on edition the latest of the Bloomberg Intelligence podcast A Conversation with BI's Deborah Aiken on the outlook for luxury goods. So into the first half of the year we still had a very robust US market. still We had tourism boosting Europe as well as domestic, decent numbers in and Japan we did see China reopening from January and traveling more so from March but it was mostly to Hong Kong, Macau, Japan, Hainan and other parts of Asia and so we missed them come in long haul and more than that as we've pushed forward through the end of the first half and into the beginning of the second half we've really
A highlight from 49 - Week 8 Recap
"Welcome to the Ultraflex football podcast where we have fun with our friends while we talk about football. I'm your host, Anthony Sutton. With is me Rob Green and Ryan Wheeler. I skipped right over your intro, Rob. We got football to talk about. What's up? We don't need to say what's up anyway. Rob, we've been talking for like five, seven minutes before we even started this podcast. Did you cut your hair? No. Oh, oh, you just got it. Oh, wow. I was like, dude, it looks like your hair's cut. Oh, never mind. It's tied back enough. You can't tell. All right. Well, uh, speaking of haircuts, I got it for any bald guys out there listening to this podcast and those guys who, you know, should probably go bald. You know who you are. Uh, shaving with conditioner is the way to go. I never knew it until last week. Started shaving with con dude, my head. It doesn't hurt after I shave. Cause like when I use shaving cream, it kind of burns a little bit. My head shave every day. Soft. Yeah. Every day. It makes sense. Right. I use conditioner to the hair and it gets soft. So shiny, looking smooth, shiny cover your eyes. If you were watching on YouTube, but anyway, um, yeah. Shave with a conditioner for all those who are bald or should be bold. So did you try it on your face? I don't shave my face. I just use an electric one. Trimmer. Yeah. Anywhere else in the body? Uh, I don't know. I don't know. I don't know. I honestly don't know. I, I've never tried to use conditioner anywhere else. Shave my legs next time. I don't, I don't know if we've officially announced that we have, uh, a Tik TOK that we do put some shorts on shorts. That's shorts on. That's what shorts on. Yeah. We try on different shorts guys. Like, is that, I guess that is like the right, is that the right media verbiage shorts, right? And that's, that's for YouTube. I don't know if that is the same thing. Either way. We have a Tik TOK. So check it out. I did see on there, Ryan, a lot of people are saying. That you sound like an owl who cracks me up every time. Um, but all right, let's get to, uh, let's get to, uh, Ryan, what, what albums are we doing today? Oh yeah. Okay. So today, um, my wife gives us the albums. So today she gave me Gwen Stefani to, for us to do this. And I was like, well, do we do Gwen Stefani or do we do no doubt because Gwen Stefani is both. So I decided we're going to do both and we have love angel music, baby. Her 2004 album. That was Gwen Stefani. And then we have tragic kingdom, the no doubt album of 1995. Such a good album. If you guys haven't checked it out, you definitely should. I want to run through our songs real quick. I have what you waiting for. Rich girl, holla back girl, cool from her album. And then from no doubt I have spiderwebs. Excuse me, mr. Just a girl, happy now and different people, Rob. Yeah. I'm choosing to skip the Gwen Stefani album. I'm going to do just the no doubt album. Sorry guys. Hey, you, the climb 16 Sunday morning and don't speak. I'll try to sneak in the four from the other one. You can see if you can pick them out. I'm not even gonna say what they are. I've got, you can do it. We're all go around and it on this traffic kingdom, the real thing, serious danger zone and long way to go. So speaking of a long way to go, we're halfway through the football season. We've got the second half coming up here soon. So let's talk about football.
Fresh "Two Halves" from WTOP 24 Hour News
"You want limited time only during breakfast hours US price and participation may vary not valid in a single item at regular price. Dave Dildine WTOP traffic. Now to the 7 News First Alert Weather Center we'll check in with meteorologist Mark Pena. Mark I guess we're gonna get a little bit of rainy mix tonight? That's probably the best way to put it just a little bit everything is on the table but the storm system that we've been tracking that's gonna be bringing this it's basically losing its punch so the overall coverage that we're looking at tonight is gonna be basically isolated to few and far between. We are tracking some showers right now moving east of I -81 moving towards the I -95 corridor and the DC Metro but even that is falling as rain right now and temperatures are around 40 degrees so I'm not expecting that to turn any into kind of frozen precip anytime soon overnight temperatures fall to the mid -30s and as the storm system continues to approach our area again any precipitation that does move into our area has the potential to fall as snow but again the ground is just way too mild and warm at this time so it's not expected to accumulate at all but that said it might make for some wet roads on your Wednesday morning commute so just give yourself some extra time for that because we all know it just takes a out little bit of there rain to make some treacherous roads the storm system exits our region by tomorrow afternoon highs are in the mid 40s and then we have a nice little warming trend heading into the second half of the week with highs in the mid 50s by Thursday and Friday and then we're in the 60s by Saturday with lots of sunshine and if you're on the fence about doing anything this weekend do it Saturday on because that's looking like the better of the two days because right now Sunday is looking like a little bit of a washout with some of our computer models suggesting about a half inch to over an inch of rain possible on Sunday so just keep that in the back of your head for now. Outside, temperatures in the mid 40s at this hour. It is 45 in Siouxland, 46 in downtown and is currently 45 in Reston. It's a foo -foo forecast there. It's all brought to you by Dulles Glass. For all your glass mirror and shower door needs, visit DullesGlass .com. Dulles Glass. Love your glass. Still ahead on WTOP, we have some important dates you need to know about if you're
A highlight from The Clippers Are Dumb, Plus the NFL Trade Deadline, Sleeper Teams, and 'The Godfather' With Michael Lombardi
"Coming up, the Clippers trade for Harden. Lots of football talk and some Italian movies. Oh yeah, next. It's the Bill Simmons Podcast presented by FanDuel. It's the best time of the year with football in full swing and basketball returning soon. FanDuel, the best place to bet on the action. The app is safe, secure, and easy to use. And when you win, you get paid instantly. Get exclusive offers every day. Jump into the action at any time during the game with quick bets and take home a fast W. Plus, check out the Explore page for the simplest way to start betting. Download the app today. Bet with America's number one sportsbook. The Ringer is committed to responsible gaming. Visit TheRinger .com slash RG to learn more about the resources and help lines available and listen to the end of the episode for additional details. Must be 21 plus and present in select states. Gambling problem, call 1 -800 -GAMBLER or visit TheRinger .com slash RG. We are supported by McDonald's. This month, McDonald's is upping its game by introducing two beloved sauces to its lineup. Mambo sauce and sweet and spicy jam. Hmm, why do I love these? Well, they both pack a spicy punch. They let you switch up the flavors in your usual order. I like having more choices. You know what, if you're gonna give me eight choices, why not give me 10? The sweet and spicy jam sounds delicious. These two sauces are only available for a limited time at participating McDonald's, so make sure to try them. While you can, tap the banner to learn more. We're also brought to you by The Ringer Podcast Network. I put up a new rewatchables on Monday night. We did the Omen. We did the OG Omen. We did the 1976 one. One of the creepiest movies ever made with some of the scariest scenes that have ever been in any of these movies. Me and Chris Ryan broke all of it down for you. What else happened in The Ringer universe? Oh, The Ringerverse crew. Everybody got together for the first time and they did a live show in LA on Monday night and even dressed up for Halloween, a couple of them. It was great, great to see everybody all together. Check out the, all of our basketball stuff on Ringer NBA, Mismatch, Brazilos Pod, Ringer Gambling. Austin Rivers has his new podcast, Off Guard. And then obviously our football stuff, all our culture stuff as well. And we're gonna have a big announcement on this podcast on Thursday about an upcoming show you might not be expecting. Coming up in this pod, I'm gonna talk about the Clippers trading for James Harden at the top and why I thought it was a huge mistake. And then our old friend Mike Lombardi, we're gonna talk about the trade deadline in the NFL as well as what team that seemingly looks like their season's almost over might actually jump in the second half of the year. And then last but not least, we're gonna talk Italian movies and Italian TV shows because why not? This is a fun podcast. First, our friends from Pearl Jam. ["PURL JAM"] All right, I'm taping this on Tuesday before the Clippers game on Tuesday night. The Clippers traded for James Harden late night. They tried to do this as late as possible at night when the most possible people were asleep because they were embarrassed by this trade. And they should be because they're the Clippers. They haven't made the finals ever in the history of the franchise, dating back to Buffalo in 1970, talking five and a half decades of bad luck, terrible injuries, mismanagement. We had the Donald Sterling piece of it. We had load management. And in the last couple of years, they've had some of the worst playoff losses of the 21st century. And now they're trading for a guy who's quit on his last three teams. So they decided, you know what, we'll do this in the middle of the night on the East Coast at least. So we'll take the least amount of slack. They were bidding against nobody. There's 30 teams in the league. One of them had James Harden. 28 other teams were like, we're good. And the Clippers said, you know what, we need this guy. We'll still be not nearly as good as Denver, but if we do this, maybe we could lose in either round two or round three, maybe? I just feel like they don't have any draft picks left for the rest of the decade. So they basically traded three picks for James Harden. The worst one was a 2028 unprotected first. Why do this now? Why do this for a team with no other offers? Why bid against yourself? And why not just wait? If you know you're trading basically two and a half picks plus all these expirings they had, why not wait? The league, I don't know if you've watched it the first week, the league is more talented and more loaded than it's ever been, probably in 30 years. And there's a really, really, really good chance that a couple teams that thought they were gonna be good are not gonna be good. Like for instance, Memphis is 0 -4. Or is Memphis gonna go 25 and 57? Probably not. But there's gonna be a couple teams that are just way worse than they expected. And guess what happens after Thanksgiving and in December and in January? Those teams panic. Guys become available. Like what if Toronto is bad? What if they're like, you know what, Pascal Siakam, this just isn't working for us. What if Chicago, who's already had two team meetings, I think, in three games, what if they decide to put Zach Levine on the table? Like you just don't know. What you do know now is that there was only one team bidding for James Harden and the Clippers ended up with him anyway. The other thing, if you're giving up this much for one guy, I better know that I have a chance to actually win the title. And I just don't feel like they do. I went to the game Sunday night. Kawhi, he looks fine. He looks fine. Does he look like the Kawhi from the mid -2010s? No. Does he look like the guy from 2019 Toronto? He does not. He looks like an older playing himself back in the shape version of Kawhi. And if that's your best player, that's just not gonna be enough this year. The Celtics are too good. Denver is too good. Milwaukee has Giannis and Dame. Phoenix has a ton of scoring. Golden State's gonna be really good. They're still not in the mix. So that was my first issue. The second one, who are you getting? Who are you getting in this trade? Where you're getting I .S. Quinn on three teams. You're getting the most disappointing playoff star this century, literally this century. And there's no other person you can put in there. There's nobody who has even half of the qualifications from a playoff disappointment standpoint that this guy does. Zach Lowe came on the Book of Basketball podcast, I think in 2019, we did a James Harden podcast. And in that podcast, which was four years ago, called him the Karl Malone of guards. And I was immediately the most jealous I've ever been of a comparison. Since then, he had the 2020 bubble flame out. Then they had in 2022, the Miami series, which he sucked in. And then in 2023, the Celtic series, this guy, it's an all time resume. And the Clippers who are just playoff futility through and through for the entire franchise history were like, that's the guy. That's the guy that can take the lovable loser Clippers over the top, James Harden. He slows you down. He needs the ball all the time. The Clippers now have Paul George, who succeeds the most when he has the ball. Koulai Leonard, who has perennially succeeded the most when he has the ball. Russell Westbrook, who loves to either have the ball or crash the boards. And now Harden, who needs the ball. See four guys who need the ball. Then Norm Powell comes in, he needs the ball. Bones Holland comes in, he needs the ball. Are we playing with three balls now? No, we're gonna still play with one. James Harden can't guard anybody. That seems relevant. He hasn't played defense in four years.
A highlight from Episode 127 - Glo & The Life You Can Save - How blockchain can help alleviate extreme poverty
"When it comes to getting the most bang for your buck, there are really incredible opportunities in the world of extreme poverty, because there are interventions that we know will save or transform lives, and we just don't have enough money going to those interventions. And these can be extremely cheap, and things like a bed net that can protect somebody from a potentially fatal case of malaria, or a cataract surgery that could literally restore somebody's sight. And it could also be something like GiveDirectly's UBI program, which gives people the freedom to solve their own problems. So I hope that the crypto community keeps all this in mind. They have the opportunity to make an enormous difference in people's lives. If you're starting an NFT community that has a charitable component, if you pick the right charity, you could literally be saving somebody's life for not a lot of money. The obstacle is really just money. Welcome to the Crypto Altruism podcast, the podcast dedicated to elevating the stories of those using Web3 for good. I'm your host Drew Simon from CryptoAltruism .org. Now before we get started, a quick disclaimer. While we may discuss specific Web3 projects or cryptocurrencies on this podcast, please do not take any of this as investment advice, and please make sure to do your own research on investment opportunities or any opportunity, including its legality. And now, let's get on to the show. Welcome, and thanks so much for joining. An estimated 700 million people worldwide live in extreme poverty. While excellent progress has been made over the past few decades, despite setbacks during the COVID -19 pandemic, there is still a long way to go to ensure that no one has to be born into a life of extreme poverty. Crypto has long been touted as a groundbreaking tool for financial inclusion, but how can this technology be used to help end extreme poverty once and for all? To dive into this, I'm excited to welcome John Behar from The Life You Can Save, a nonprofit on a mission to make smart giving simpler and Seth Ariel Green from GlowDollar, a stablecoin with a mission to end extreme poverty. We discuss how crypto can help fight extreme poverty, how blockchain can fuel smarter giving, some of the barriers preventing crypto from reaching its full potential, and much more. So without further ado, please join me in welcoming John and Seth to the Crypto Altruism podcast. Okay, John, Seth, thank you so much for being here today on the Crypto Altruism podcast. Great to be here. Thanks for having us. Yeah, so excited to learn about The Life You Can Save. I've been following your organization for quite a while, actually. I work in the nonprofit sector, so I'm quite familiar with the work that you do. Really excited to have you here. Really excited to have you as well, Seth, from Glow. We've had the pleasure of having Glow on the podcast previously a few months ago, but now I'm excited to really kind of narrow in on a more specific topic of how crypto stablecoins can help address extreme poverty. And so I'm really excited to dive into that and to have a really fascinating conversation on that. Before we get there, I'd love to hear from both of you of how you got into the world of Web3, or what got you excited about blockchain and Web3 maybe to start. So do you want to jump in first, John, and then we can go to you, Seth? Sure. My personal aha moment kind of came early in the COVID crisis when the Fed backstopped the corporate bond market. And when that happened and happened so quickly and with so little debate, I kind of realized that money printing was really going to go to the next level. And I owed it to myself to do my homework on Bitcoin, especially on the digital gold narrative. So pretty soon I found myself just going down the crypto rabbit hole. And for the life you can save as an organization, we got more involved in crypto later that year. And in late 2020, we were approached by the Fugue Foundation, which is an organization that promotes Web3 technology and supports highly effective charities. So Fugue offered us a grant in crypto if we were going to take some steps to ramp up our Web3 proficiency. And specifically, they asked us to run an Ethereum validator test net. And that was something that we felt like we had no ability to do internally. But the timing worked out amazingly because right at that time, a volunteer approached us who was very crypto savvy and was able to do that. So we were very lucky about how that all kind of lined up. And that experience got us got the ball rolling for us in terms of ramping up processes around being able to accept crypto and do things like that. Very cool. Awesome. Well, thank you so much for sharing, John. It's great to hear the story of how you got here and excited to learn about the life you can save as well shortly. But first, let's go to you, Seth, if you want to share your aha moment that first got you excited about blockchain and Web3. Sure. So for me, it was in 2021. I hiked the Appalachian Trail, which for non -Americans is from Georgia to Maine. And towards the second half of it, I started getting bored of walking in the woods all day. So I started listening to podcasts. And I think for me, it was actually Vitalik being interviewed by Tyler Cowen when I realized like, oh, this guy's smart. Like, he's thinking hard about stuff that like is interesting to me, governance. And he'd like read some. He showed evidence of very reading broadly. I felt like, oh, maybe it's not all just a pyramid scheme, which was my private belief. Started reading about it, started liking what I was reading. And then in, I think it was March of 2022, I saw an advertisement for this company called Global Income Coin, which is what my company used to be called, that was looking for a writer. And they had posted their white paper as a Google doc. And so at this point, the only thing I know about crypto is I've read a couple articles, I've listened to a couple of podcasts, but I know how to edit Google documents. So I went into the Google document and I read it all the way through and I edited the heck out of it. And they said, oh, great, that's great. You should do this for us full time. And 18 months later, here we are. Love that. That's amazing. It's funny how you get into this world, right? I often hear stories like that of like, you know, it started off with just kind of like, you know, connection here, me working on some little project here and then, hey, you know, five months later, I'm full time or something in this in this world. So that's amazing. Well, thank you both for sharing a pleasure to have you here. Let's start with maybe doing a bit of introductions for your organizations now that we've kind of learned a little bit about you and where you came from. So maybe we can start with you, John. You mind giving listeners a quick introduction to The Life You Can Save? Sure. The Life You Can Save is a nonprofit that has a mission to improve the lives of the 700 million people who live below the international poverty line of $2 .15 a day. So the way we do that is by identifying and raising funds for outstanding nonprofits that serve that community and offer donors really outstanding bang for the buck. So these organizations work in a variety of ways. Some of them are performing life saving or life transforming health interventions. Others are expanding economic inclusion or access to education. And others fight climate change, which is an issue that disproportionately affects people who live in extreme poverty. So you can kind of think of us as applying the crypto ethos of don't trust, verify to the charity world. There are about 1 .5 million charities in the U .S. alone, and every one of them has a narrative about why you should support them. And they're completely incentivized to make that narrative look as positive as possible. So The Life You Can Save helps donors cut through that noise and find organizations that run evidence backed programs and offer exceptional cost effectiveness. So we make it so that donors don't have to simply trust the marketing stories that charities are telling them. We operate as an independent third party that can do the research to actually verify that the organizations are having the impact that they claim to and are really making a tangible social impact. So there are a lot of people who are generous and want to make a difference with their giving. And we try to make it easier for them to actually translate those good intentions into real impact. Yeah, and I love that. And that's such an important mission. And as someone who's worked in the nonprofit sector for many years, I can see a lot of those pain points that you're looking to address there with the work they're doing. And also thinking, and looking back on my aha moment, a lot of those pain points were some of the reasons I got excited about blockchain in the future as well, or blockchain as well, because I think in the future, as we really build up this technology, it can be a game changer in helping address some of those issues, you know, around transparency around fundraising, around measuring and monitoring impact in the nonprofit sector. And we'll talk about that a bit later on as well. But just have to chime in on that because I'm like, Yeah, you know, there's I see some good alignment there with your mission and how this technology can can improve that. But let's go to you now, Seth, and we'll come back to that a bit later on if you want to, you know, we've had glow on the on the podcast in the past, had Jasper and and Jasper and Garm, I think, on the podcast a glow, big fan of the work you're doing. We're excited to be also be joining as a consortium member, hopefully soon, once we get all of our policies and everything in place. But before we go any further, maybe you can give for those that didn't listen to that podcast that aren't as familiar with glow, you might just give it a quick little introduction, your mission. So happy to do that. So company I work for is called glow foundation, that's GLO. And our works to give basic income to people in extreme poverty. And so taking a step back, how stable coins work in general, or how the legitimate fiat backed ones work is you give the stable coin issuer a dollar and they give you a stable coin, then that dollar sits in a bank account somewhere and it gets split up into a cash portion, just straight dollars or whatever the local currency is that that facilitates liquidity. Like if you need to actually be trading, you can just sell back $50 ,000 or buy back, you need to have some portion in cash. And the other, let's say 80%, the bulk of that of all the dollars in the reserve go towards cash equivalents, which are very safe short term investments like three month Treasury bills or money market funds that themselves invest in three month Treasury bills, blah, blah, blah. And those give a yield. Right now that yield is sitting at like 5 .15%. I think maybe it's a little higher even. And the typical fiat backed stable coin, like Circle, for instance, whose product is USDC covers operating expenses and generates profits based on the yield from the reserves. We take that model, and we essentially apply what we're calling the embedded philanthropy idea to it. So when we get money from the reserves and the stable coin, we give it away to GiveDirectly. GiveDirectly is an outstanding charity. I'm sure John can talk more about this. They give the money that they get as no strings attached cash transfers to people in extreme poverty. So our basic theory of change is GiveDirectly is every single person in extreme poverty would appreciate having a basic income. The bottleneck is just funds. So we want to turn the operation of a stable coin into a revenue generating machine for this outstanding charity. And to close the circle on how we work, we fund operations through donations. Very cool. And you mentioned GiveDirectly there and what their mission was. I saw that they were one of the recommended charities that you had on the Life You Can Save website, GiveDirectly, because of the effective work that they're doing. So yeah, really, really awesome. So thanks for giving that quick introduction. I think it's really helpful the way you broke it down to how the traditional stable coin markets work, investing for those that are backed by cash or cash equivalents or those sorts of things, how they do that, the yield they earn, where that typically goes, in your case, making sure that that yield then is diverted to those that need at most those in extreme poverty. And so I love how Glow is really putting a really positive spin on stable coins, because let's face it, stable coins have gotten a lot of heat lately in the media and from a regulatory point of view. But they can also be a very valuable tool for financial inclusion and fighting extreme poverty. I personally see many examples of that. So maybe I'll open it up to either one of you. What does the world need to know about stable coins that they don't currently know, based on the most common narratives out there? I would say the core thing is that not all stable coins are created equal. This most strongly occurred to me in about May of last year, when a so -called stable coin, Terra, death spiraled. But Terra never made any sense. Like the economics of it, it was obviously a Ponzi great marketing benefit of calling themselves a stable coin. But that stability was a total illusion. I do not think that Glow dollars should be lumped in the same category. I think that basically you have, on the one hand, organizations that have taken concrete steps towards showing that their reserves are being held only in cash and cash equivalents, that they are not co -mingling customer funds, that they are not lending their assets out to unknown and undisclosed partners. And I think when you put those stable coins into their own bin, those organizations look pretty good. So I basically think that a lot of these not so -called stable coins have pulled a very impressive marketing coup by getting everyone to talk about these things as if they're the same thing. But it just ain't so. I think that that's a sectoral thing as well. And looking at crypto more broadly, I think people view crypto and some of the scams that have been out there are synonymous. And that it's all the same. When you think of crypto, it's all just Ponzi schemes and scams. And it's certainly the same for stable coins, is that everything gets lumped together. And when you have a couple of bad actors that do something, it really brings down the whole ecosystem in a sense. Well, it's more than a couple. That's the problem. If this were isolated... In general, I try to approach these things by... Forget the hype. I work in marketing at a crypto company. My job is hype. Look past that. You see that at its core, FTX, for instance, was an offshore crypto casino. Why would you think that that was a good idea to put your money there? No offense to people who... Whatever. A lot of people fell for it. But just the fundamentals are what really matter. Yeah, for sure. Definitely. And so let's dive in a bit more. So we talked about stable coins. We talked about the missions of your organizations. Where this all comes together is in fighting extreme poverty. So the World Bank estimates that some around 700 million people maybe are currently living in extreme poverty. How can crypto help address this? Well, I think there are two main ways. And the first would be by creating wealth and then using that wealth to fund high impact organizations and interventions that are targeting the global poor. And crypto donors do tend to make larger gifts and start giving at an earlier age than other types of donors. And that has enormous potential. And GiveDirectly, the organization that Glow supports and that The Life You Can Save recommends is an amazing example of that. In 2021, 17 % of GiveDirectly's operating budget came from the crypto community, which is frankly pretty mind boggling. Wow. And the second way that the crypto can help is by building new systems. And that could be a new stable coin that funds UBI. That could be more efficient payment rails that help people send remittances to family members in poor countries without paying exorbitant fees to middlemen. Or it could be new organizational structures like DAOs that allow people in poor countries to get new work opportunities with organizations. borderless And The Life You Can Save's payment processes are actually a good example of how these new systems can benefit people in extreme poverty. You can make a credit card donation to The Life You Can Save, and it would be instantaneous. But the credit card company is going to charge their standard 3 % fee. You could send us a check, and then you wouldn't have the fee. It's going to take several days for the check to arrive, and then we need to manually cash it. So that's not ideal either. But if you donate crypto to The Life You Can Save, it's both fast and it's cheap. So you'll have to pay whatever network fees there might be, but that can be extremely low. But aside from that, there's no processing fees. And that's thanks to our partner, Crypto for Charity, which I definitely recommend. If you're a nonprofit or a donor thinking about crypto donations, I would definitely recommend you check them out. So that means that you can donate crypto to The Life You Can Save or any of our recommended charities for free. And because of this disintermediating technology, more money is going to go and help people in extreme poverty, and less money is going to go to middlemen. Yeah. Yeah. Very well put. Very well put. Yeah. And I think that just like, you know, for me, I just think about getting money from, let's say that I have money right now that I want to donate to someone on the other side of the world, and every just like step and barrier that needs to go through to get there. Right. So I think that you hit the nail on the head, it just speeds things up, makes it more efficient, more cost effective.
A highlight from Oops! The BlackRock ETF Code IBTC Has Been Around Since August...
"Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. What's going on, guys? It is Wednesday, October 25th, and today we are talking about more weird quirks of this proto bull market. But before we get into 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 in the show notes or go to bit .ly slash breakdown pod. Hello friends. Well, today we are following up on the story that we've been tracking all week, which is all of the intrigue and interest around a potential ETF being approved, which had a really funny and weird little wrinkle yesterday. But before we get into that, as I was prepping the show, news broke that Sam Bankman -Fried would indeed be taking the stand in his own defense. Now, my feeling on this was that of course he would. I have had nearly 100 % conviction that this was going to happen, and it has only grown over the course of the trial. This is despite this being a very bad idea in general. It usually does not go well for the accused to speak in their own defense. However, one, Sam is not a person who can really resist talking. And two, after what we've seen on this trial, it's sort of the only thing he has left. Martin Shkreli summed this up last week. The former pharma exec who himself went to jail has been taking a close interest in the trial and he wrote, The only chance SPF has to get acquitted is to take the stand. Eleven out of ten criminal defense attorneys would tell you it's a mistake, but while it's a Hail Mary, it's the only shot he has. Taking the stand is an ambitious move by a defense. OJ famously did not take the stand. Neither did Michael Jackson or Casey Anthony. Lawyers don't like the uncertainty that comes with testimony, but specifically cross -examination. Another reason lawyers don't like it is that there is a high risk the defendant is less likable after testifying. That is a risk with Sam, but he's not your average defendant. This will be the last sale he has to make. Recency bias matters. If SPF can avoid choking and charm 12 people like he charmed VCs, they might just forget the first five weeks of the trial. Riding that momentum into closing arguments is critical. On the stand, SPF has a simple story. Why would I want people to lose money? I didn't put any of this money in my pocket. I invested it. I was stupid, but that's not a crime. He can act surprised, even hurt, at the idea he wanted to deprive anyone of their property. Virtually everything comes down to his state of mind and what he believed, which is really up to him and how well he can sell it. That's my take. If he doesn't take the stand, he will regret it forever. SPF isn't the kind of guy who leaves things like that on the table. He will get closure, a real chance to tell a story, and a fighting chance at winning over this jury who probably are ready to convict. For my money, that is the best legal analysis you will read about this particular decision. Sam could testify starting as soon as tomorrow afternoon. Obviously, we will keep you abreast of any of those developments. But today, let's go back to this crazy Bitcoin spike that we're in the middle of and talk about a few interesting quirks. Of course, one of the biggest catalysts for Monday's Bitcoin spike was BlackRock being assigned a ticker symbol for its Bitcoin ETF on the DTCC website. The DTCC functions as the clearinghouse for most U .S. stock trading. So BlackRock's ETF being listed there was taken as a sign of progress towards an eventual SEC approval. That said, most analysts had warned that markets were getting ahead of themselves and that the inclusion of BlackRock's ETF in the DTCC system wasn't much of an indication of anything. The only real information to be gleaned was that BlackRock were taking steps in preparation for a launch, not that an ETF launch was imminent. However, on Tuesday morning, Barron's crypto journalist Joe Light noticed that the BlackRock ETF had been removed from the DTCC's website during the day's update. Markets erupted into pandemonium. Bitcoin immediately sold off by 3%. Traders furiously refreshed the DTCC website, causing it to crash after likely experiencing more single -day traffic than it ever had before. Bloomberg's senior ETF analyst Eric Balcones said, DTCC is definitely not used to this kind of attention or action. It lives behind the scenes, very boring. Speaks to the uniqueness and intensity of this entire saga. Now at around 6 p .m. that evening, the DTCC website was once again updated. BlackRock's ETF was back under the ticker symbol IBTC. The only substantive change was that the redemption in creation status had been changed from yes to no. Analysts said this was likely of no real consequence as the fund is not yet trading. Said Bloomberg's other ETF analyst James Safart, I personally don't think this means all that much if I'm being honest. Think it indicates BlackRock is getting everything ready to launch if and when they get an SEC approval. And that the no just means it's not open for create redeem because it's not live yet. Now later in the evening, a Reuters reporter took the drastic step of actually asking the DTCC what was going on. A spokesperson for the DTCC explained that quote, It is standard practice for DTCC to add securities to the NSCC security eligibility file in preparation for the launch of a new ETF to market. Appearing on the list is not indicative of any outcome for any outstanding regulatory or other approval processes. What's more, they noted that the symbol had actually been there since August, which of course caused a fair bit of bewilderment. Travis Cling tweeted, Just to make sure I'm tracking. Market thought BlackRock's IBTC was listed on the DTCC website yesterday. Price spiked and blew up a bunch of derivatives. IBTC listing magically disappears today then reappears a few hours later. Then it turns out that IBTC had been on DTCC since August. Did I get that right? Bill King responded, Just another day in paradise. Now as another indicator of rapidly growing institutional interest in Bitcoin, open interest on the Chicago Mercantile Exchange or CME soared to record highs on Tuesday. The CME hosts a handful of crypto futures contracts and is the main trading venue for TradFi firms which shy away from offshore crypto exchanges. Open interest on crypto native venues was crushed by Monday's volatile move. These offshore exchanges saw perpetual futures open interest decrease by almost 27 ,000 Bitcoin throughout Monday. Conversely, CME's monthly Bitcoin futures contracts saw an increase in OI of over 4 ,000 Bitcoin. For the first time, CME OI passed 100 ,000 Bitcoin worth around 3 .4 billion. According to Vetle Lunde, a senior research analyst at K33 Research, the CME market share for Bitcoin futures trading has reached an all -time high of 25%. The CME is now the second largest trading venue for Bitcoin futures, trailing only Binance which still holds 29 % market share. Unsurprisingly, however, Bitcoin's market share has been collapsing in the second half of this year following regulatory lawsuits and difficulties with payment infrastructure. Binance's futures trading market share topped out at around 37 % in June. 24 -hour trading volume for CME Bitcoin futures hit 1 .8 billion between Monday evening and Tuesday morning. That's around 25 % larger volume than any other 24 -hour trading period over the past two months. Now, alongside the obvious benefits of having significant Bitcoin futures volume moved to regulated and surveilled markets, monthly expiry structure on the CME gives us additional information on how markets are being traded. That's opposed to offshore where 80 % of futures trading is using perpetual futures which don't expire. Currently, the one -month premium to spot Bitcoin prices is at 13 % for CME futures contracts. There hasn't been a discount to spot prices since late August and the premium has been steadily climbing since then. Today's episode is brought to you by Kraken. For far too long, the whole financial system has been standing still, too slow, only on for certain hours, overly designed for some types of people but not for others. Crypto, at its best, represents progress. It asks the question, what if? It invites people in instead of leaving them out. It's on 24 -7, 365, and moves at the speed of real life. 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A highlight from The Bull Case for $LINK (Chainlink) | ChainLinkGod & Fishy Catfish
"The end case of what on -chain finance will ultimately look like where it will be a hybrid of both on -chain executing code as well as these off -chain collateralized assets or natively issued on -chain assets like tokenized bonds. Moving through the system using chain link price data, using chain link proof reserves, using identity data, like all these useful data inputs is ultimately the economy that we're trying to create and a lot of that will end up settling on Ethereum itself as like this neutral meeting ground between different distrusting counterparties where each counterparty has their own chain but they want some settled ground to execute their contracts upon so like this is a bull case for the whole industry it's growing the pie for everybody effectively is really what what chain link's trying to build towards. Bankless nation welcome to the bull case for chain link. A few weeks ago we hosted a long -awaited interview of Sergey Nazarov, the founder of chain link. We got the pitch for why chain link, what it potentially unlocks for the on -chain world. If you haven't listened to that episode yet and you're going down the chain link rabbit hole I definitely recommend listening to that episode. This episode you're currently listening to is what I feel is the second half of that first conversation with Sergey. During our episode with Sergey we stayed pretty high level about chain link and what it is and what an oracle network is. We never really got the chance to talk about the link token specifically. Chain link is understood to me now but the role and function and the upside of the link token specifically inside of the chain link system was a stone we left unturned in that episode with Sergey. In this episode we attempt to turn over that stone. What is the link token? How does it fit inside the chain link system? How does it capture value? Who is going to pay fees to link token? Sergey said that chain link wants to unlock the hundreds of trillions of dollars of real world assets and bring them on chain with chain link as the conduit of course. If that happens how does link token capture that value in that process? These are the questions I asked two of chain link's most prominent community members chain link god and fishy catfish, two crypto twitter anons who have seemingly committed their online lives to spreading the good word of chain link. So I brought them on the show so I could hear from them directly what exactly is the bull case for link. Bankless nation I am putting on my bull cap today. That means that this conversation is biased to bullish. I am here to understand the bull case for link and share that with you all and if you want to understand the bear case for link and the risks that the link token has this episode will not provide that. You will have to do your own research. Bear hats don't fit very well on my head. I prefer making bullish content so that is what you'll be getting today. Disclosures before we get into the episode with chain link god and fishy catfish. Nothing in particular. I don't hold any link tokens. I'm just here to help articulate the bull case. I do own a bunch of eth and we frequently talked about ethereum in this episode but that likely comes as no surprise to bankless listeners. There is a link to all bankless disclosures in the show notes bankless .com slash disclosures. So let's go ahead and get right into this episode. The bull case for link with two of chain link's most prominent community members but first a moment to talk about some of these fantastic sponsors that make this show possible especially our preferred crypto exchange in 2023 kraken. If you do not have an account with kraken consider clicking the link in the show notes to getting started with kraken today. You can buy chain link the link token on kraken as well as many of the other assets that they have listed because they're an exchange. Let's go hear from them right now. Kraken pro has easily become the best crypto trading platform in the industry. The place I use to check the charts and the crypto prices even when I'm not looking to place a trade. On kraken pro you'll have access to advanced charting tools real -time market data and lightning fast trade execution all inside their spiffy new modular interface. Kraken's new customizable modular layout lets you tailor your trading experience to suit your needs. Pick and choose your favorite modules and place them anywhere you want in your screen. With kraken pro you have that power whether you are a seasoned pro or just starting out join thousands of traders who trust kraken pro for their crypto trading needs. Visit pro .kraken .com to get started today. Celo is the mobile first EVM compatible carbon negative blockchain built for the real world and now something big is happening. Introducing the Celo layer 2. It's a game -changing proposal that's going to bring Celo's rapidly growing ecosystem home to Ethereum. Vitalik has shared his excitement for the Celo layer 2 on the Celo forum so has Ben Jones from Optimism. But why? The Celo layer 2 will bring huge advantages like a decentralized sequencer, off -chain data availability, and one block finality. Which is all that mean? Rock solid security, a trustless bridge to Ethereum, and more real world use cases for Ethereum without compromise. And real world adoption is happening. Active addresses on Celo have grown over 500 % in the last six months. With the Celo layer 2 gas fees will stay low and you can even pay for gas using erc20 tokens. But Celo is a community governed protocol. This means that Celo needs you to weigh in and make your voice heard. 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A highlight from Grieving Over Perishing Souls
"Romans chapter 9, our portion is verses 1 through 5. These are God's words. I tell the truth in Christ. I am not lying, my conscience also bearing me witness in the Holy Spirit, that I have great sorrow and continual grief in my heart, for I could wish that I myself were accursed from Christ for my brethren, my countrymen according to the flesh, who are Israelites, to whom predain the adoption, the glory, the covenants, the giving of the law, the service of God, and the promises, of whom are the fathers, and from whom according to the flesh Christ came, who is overall the eternally blessed God. Amen. Amen. So far the reading of God's inspired and inerrant word. What the apostle is describing here is truly an amazing grace. He is not speaking like a pagan speaks, whose yes is not yes, and whose no is not no, and statements in the first verse. He's doing so not because there's any question as to whether or not what he's saying is true. He's speaking as an apostle, and he's writing under the inspiration of the Holy Spirit, and he knows it's true, and he knows we know it's true, and that he uses these four oath type statements to communicate the greatness, the amazingness of the grace that God has worked in his heart. You remember what he was like when he was on the other side, when he opposed the name of the Lord Jesus Christ, when he was outside of Christ, although a member of the visible church, and how he was full of hatred and murder. Now he is the object of that hatred, and has many times been the attempted object of that murder, and yet he does not reciprocate in kind. He loves them with profound, great love. He even desires their salvation so much that if it were possible, he would be willing to give up his own. And so he gives us these four statements. I tell the truth in Christ. Number one, I am not lying. Number two, my conscience bears me witness. Number three, in the Holy Spirit. Number four, and we could even make in Christ a fifth component stacking up these statements that this is an actual reality of what God has worked in his heart, and it's a reality that has been produced by the Holy Spirit through union with Jesus Christ, which means it's a reality that is available to us as well. That the God who worked such grace in the heart of the chief of sinners will work by the same grace in the hearts of all of us great sinners. So the first thing to see here is that it is an amazing grace. The second thing to see is what that grace produces, because in an age when there are those who are perishing, in an age when there are those who are opposing Christ and denying the glory of God, and in an age when these are found not only outside the church but even in the church, and in particular at this time in the church that is the visible church constituted at Sinai, Israel, and that is not only covenantally Israel but also ethnically Israel, the Israel that is according to the flesh, the Israel that is biologically inclusive of the fathers, especially Abraham, Isaac, and Jacob, but not just Abraham, Isaac, and Jacob, those other fathers who came from them and were descended from them according to the flesh, and then from whom even the Lord Jesus is descended according to the flesh. Even among these there are those who are perishing in their sins who are currently accursed apart from Christ. This is an age in which grace produces not only joy but also sorrow, where the Spirit produces in us not only joy in the Lord, rejoice in the Lord always, but also sorrow. Mourn with those who mourn and look at the type of sorrow, not just sorrow verse 2 but great grief, and not just great sorrow and continual grief that is superficially displayed but that is from the heart and felt deeply in the heart. If we are looking for an experience of God that does not include great grief and continual sorrow in the heart, then we are looking for a different experience of God than the Holy Spirit produced from Christ in the heart of the Apostle Paul. But it's important that we see what this grief is over, because a man who continually goes around grieved because the creation that is broken is not serving his appetites and his whims like he wished, does not have the grief and sorrow here. The grief and sorrow here is especially over the perishing souls of sinners, and particularly perishing souls of sinners from either A. Covenantal Israel, the visible church, or B. Ethnic Israel, which is no longer now the visible church but continues to be precious because of what God has done through them and who belongs to them. So the first thing we see in verse 1 is the greatness. The greatness of this gracious work. And verse 2, the second thing we see is the grief that is of this gracious work. And verse 3, which we already began to cover the cause or the extent of this grief even. For I could wish that I myself were accursed from Christ, anathema from Christ, under the wrath of God, and separated from Christ for my brethren, my countrymen according to the flesh, who are Israelites. Now we're going to get to those for whom he is thus grieved. But you hear what he's saying. He says, I wish I could be damned after having been saved. I wish I could be separated from Christ. And of course, or I could wish, not I do wish. The intensity of his desire is that if it were possible, he would be willing to give up his salvation. He would be willing to be separated from Christ in order for all of the Israel, the Israelites to be saved, which is an amazing thing for him to say because he knows that this isn't God's intention. He can't be separated from Christ. Nothing can separate us from the love of God, which is in Christ Jesus, the love of Christ. What can separate us from the love of Christ? Answer, nothing, because he's God. And nothing can separate us from the love of God, which is in Christ Jesus. And yet he speaks in this way. So great is his earnestness that they would be saved, that they would not perish. And I wonder how far we could possibly have made it in grace, how far along we possibly could be in grace, in maturing, in conformity to Christ, if that which was in Christ desiring the salvation. Father, forgive them for they know not what they do. That which was in Stephen as he was conformed to Christ, the last verse there in Acts chapter 7, where Stephen prays for his murderers as he dies. And now one of those murderers praying with this intensity and wishing that even he could be accursed for the sake of those who hate him. How affected, how afflicted are we by the lost condition of many in the churches, the lost condition of those whom God has providentially assigned a closeness to us in the flesh, our relatives who are lost, the lost condition of Israel in large measure. Now not all Israel, praise God, just as Paul is going to say in a moment, I too am an Israelite, there are some few who are converted, and yet so many, so many who are ethnically related to Abraham and Isaac and Jacob and even Jesus, and yet they are perishing in their sin. They are apart from Christ. They are going to hell. Paul says he wished that he could be accursed for their sake. We can hardly remember to pray for them, let alone making any effort or contributing in some way to an attempt to gather them to send someone as an ambassador on behalf of Christ, announcing, pleading with them to be reconciled to God through the Lord Jesus Christ. And so there is a great intensity here that challenges us and should drive us to look to God the Holy Spirit to provide in us the same earnestness, the same zeal for the salvation of lost sinners, and particularly the salvation of Israelites on two counts. One covenantal, which you see in verse four, and the other one ethnic, which you see in verse five. And so you don't get out of viewing Israel as special just because the natural branches have been cut off from the tree. You don't get out of having a special love for and interest in and desire for the salvation of the Jews just because they have rejected the Lord Jesus. The Lord Jesus himself didn't set us that example on the cross. But now the double logic of verse four and verse five also do not let us get away with that. So he is referring to his countrymen according to the flesh. My brethren, my countrymen according to the flesh. He's not talking about brothers in Christ. He is describing the Jews. This is what he means when he says my countrymen according to the flesh. He means the Jews, but they are up until this point. The 70 AD has not come yet. They are still the visible church, as it were. And there's this transition that's taking place, of course, because the great prophet and the great high priest and the forever king has come. And if Messiah comes and they reject him, and there are many Jews spread throughout the world who are being given at the time that Paul writes this, the opportunity to acknowledge the anointed, the Messiah, the messiah, the Christ. And some, many, are receiving him, and many others, of course, are rejecting him. And so it's still the church. It's still a covenant entity. And you see that here. Who are Israelites, verse four, to whom pertain the adoption, and this especially is referring to Exodus chapter 4 and Jeremiah 31 and Hosea 11, in which God refers to Israel as his son. And so the first time we heard of God as father, it was not with Christ as the son in whom we know him supremely as father, but it was with Israel as an adopted son. So to whom pertain the adoption, the glory, they are the ones who saw his glory at Sinai. And then also that special display of his glory in Exodus 24, where the glory of God appeared on the mountain and the elders went up and they ate. They saw the Lord and they ate and drank in his presence and they didn't die. And to whom pertain the adoption, the glory, the covenants, plural, recognizing that the covenant that was made with Moses or with Israel under Moses at Sinai and the implied covenant, which is later referred to definitely as a covenant with David in 2 Samuel 7, are multiple administrations of a single covenant of grace. And so the covenant that was implied in the covenant of grace, even in Genesis 3 in the wake of the fall, the covenant with Noah in Genesis 9, the covenant with Abraham in Genesis 12 and 15 and 17, and later with Isaac and with Jacob, that all of these administrations of the covenant of grace come down to us now in the covenant under the Lord Jesus through Sinai, through Jerusalem. And so to them pertain the covenants, the giving of the law, not only the terms of the covenant in each successive administration of the covenant of grace, but particularly the of expression who God is and what God is like. And so the applications to us of the implications of who God is, the service of God, the only right way to worship God and come near him, which we've been hearing so much about in the second half of Exodus and the first half of Leviticus and the tabernacle. This was the one people among whom God made himself redemptively known and gathered people close to him to worship him. And of course, that way of coming to him all pointed forward to Christ and the promises. Last thing in verse 4. So all of those things that God had said, beginning with Moses ending from Genesis to Malachi, those things that Jesus opened about himself to the people, to the two men on the road to Emmaus. And in Luke 24, the things that Paul showed and proved from all the scriptures, all of those promises of Christ. And so he lists all of these covenant advantages they've had, advantages that we now partake of, but they are rejecting these advantages. He's agonizing over them as those who had belonged to God covenantally and through whom we now have all of these covenant benefits. But they're not just Israelites covenantally, which they are at risk of losing and rejecting at this time and when Romans 9 is written and which indeed would be completed. But they may yet be grafted in and we are to desire and pray and labor that they would be grafted in because they are still precious to us, even just ethnically. And that's where he goes in verse 5. Of whom are the fathers and from whom, according to the flesh, Christ came. So even apart from their covenantal standing, they're precious to us for their flesh connection to the Lord Jesus Christ, for their flesh connection to those believers that we have in that wonderful list and retelling in Hebrews chapter 11. Just like you and I, when we hear about someone who's an unbeliever, we should always be grieved in our heart for them. But when it's someone that is a member of our church, someone that we love as a brother or sister and have a closeness to, there's a greater grief and there's a greater sorrow and a greater interest. Well, the Jews are descended from fathers in the faith who are precious to us. And so the Jews are precious to us for their sake. But there's one who is even more precious to us. And they are related to him in that ethnic and genetic, if we can speak that way, sort of way. From whom, according to the flesh, Christ came, as we heard at the beginning of the book of Romans, the Son of God, but also the Son of David, according to the flesh. And so they are precious to us for Jesus' sake. We have a Jewish redeemer. And so we ought to grieve over and desire, grieve over their lost condition, desire their salvation, have a special love for them that continues, even after they have been cut off. You see, Christ has always been the true Israel. He is the true Israel from Genesis 3, even before there is a quote -unquote Israel, throughout the Old Testament. And of course, now he is all the more plainly so. And yet there are many who have been cut off from him and for whom we should long that they be grafted back into him. This despising or hostility or animosity that many believers indulge towards Jewish people does not come from Jesus, does not come from the Jesus who has reproduced his heart and mind toward the Jews and Stephen. It does not come from the Jesus who has reproduced his heart and mind in Paul. And Paul, whom now by the Holy Spirit writes to us of how we should have great sorrow and continual grief in our heart for those who are our kinsmen according to the flesh, those who are in the covenant but not of it, gospel hypocrites or false professors in the church, and still for the Jews themselves. It is part of what the Holy Spirit produces when he does an amazing work of grace in the heart. Amen. Let's pray. Father in heaven, we thank you for this part of your instruction. We thank you for how it even connects to current events. And we do pray that that which is going on now would be means by which you alarm those Jews who are outside of Christ. We know, Lord, that the way that you bring them to faith is through the preaching of your word and even through jealousy when those from other nations are brought to their great prophet and great high priest and forever king. And we do pray especially for the Christians who are persecuted from both sides in that conflict. But just now, Lord, we pray that your spirit would guard our hearts and minds and that he would produce in us the mind and heart of Christ that we see reflected in the apostle here, that we would so desire their salvation as that we could wish to be accursed from Christ ourselves for their sake. Lord, help us, for we are not so brokenhearted over the perishing from all the nations as we ought to be. And so we pray for your spirit to apply this portion of your word to our hearts. We ask in Jesus name. Amen.
A highlight from 399// The Cost of Following Jesus: A Devotional Bible Study on Matthew 8:14-22
"Do you sometimes doubt if you're truly hearing God's voice or if it's really your own? Or have you been in a season where it feels like He's completely silent? Have you been praying for a way to learn how to hear His voice more clearly? Hey friends, I'm Rachel, host of the Hearing Jesus Podcast. If you are ready to grow in your faith and to confidently step into your identity in Christ, then join me as we dig deep into God's Word so you can learn to live out your faith in your everyday life. Need a new roof for your home or even just some repairs? That's a big investment, one that you should take very seriously. And you want the job done right by professionals and at a great price. You need to call your hometown roofing contractor. Serving Northeast Ohio for over 65 years, Coats Bros Roofing, 440 -322 -1343. How have they been in the roofing business for so long? Quality work at a great price. They keep their promises and communicate with you, the homeowner. Coats Bros Roofing will listen to you and find solutions that will accommodate your roofing needs. They'll give you a better than competitive price on your roofing job and make sure that it fits within your budget. Financing is available too. The highest quality at a great price. Coats Bros Roofing, call 440 -322 -1343 or go to CoatsBrosRoofing .com. That's C -O -A -T -E -S, CoatsBrosRoofing .com. McDonald's presents Burger Reviews by Hamburger. Today's review, the best ever Big Mac burger. Take it away, Hamburger. Rubble, Rubble. He said, there's more special sauce in every bite. Rubble, Rubble. He said, Rubble, Rubble. Rubble, Rubble. Rubble, Rubble indeed, my friend. Try the juicier Big Mac and get 20 % off any purchase of $10 or more. Only on the app. Comparison to Prior Classic Burgers, limited time only at participating McDonald's, valid once per day, exclude stacks, must be opted into rewards. Hi friends. Welcome back to the Here in Jesus podcast. I'm your host, Rachel Grohl. Welcome back to our introduction to the Gospel series where we're going through the Gospel, starting with the Gospel of Matthew. And I'm just teaching on some of the things that we sometimes miss from the history and the culture and the background, things that help us understand the text a little bit more clearly. So today we're in Matthew Chapter 8, picking up at verse 14. And if you're just joining us, I would encourage you to go back and start listening from the beginning of this series. Everything kind of builds on itself, so it will make more sense, I think, if you do it that way. But we're so glad you're here. So I'm reading from the New American Standard Version of the Bible, starting at Matthew Chapter 8, verses 14. It says, When Jesus came into Peter's home, he saw his mother -in -law lying sick in bed with a fever, and he touched her hand, and the fever left her, and she got up and waited on him. Now when evening came, they brought to him many who were demon -possessed, and he cast out the spirits with a word, and healed all who were ill. This happened so that what was spoken through Isaiah the prophet would be fulfilled. He himself took our illnesses and carried away our diseases. Now when Jesus saw a crowd around him, he gave orders to depart to the other side of the sea. Then a scribe came and said to him, Teacher, I will follow you wherever you go. And Jesus said to him, The foxes have holes, and the birds of the sky have nests, but the Son of Man has nowhere to lay his head. And another of the disciples said to him, Lord, allow me first to go and bury my father. But Jesus said to him, Follow me, and let the dead bury their own dead. There's a lot to unpack here, and hopefully we'll get through it all today. If not, we'll pick up tomorrow. But I want to make mention initially about the location of where they're at. It says in verse 14, When Jesus came into Peter's home. So this mother -in -law scene is something that is just so touching for a variety of reasons. But I wanted to just spend a little bit of time talking about Peter's home, because this is one of those places in the scriptures that we have a lot of evidence for and verification of the house of Peter. Back in 1968, there were excavations done that convinced most archaeologists that this was the actual site of Peter's house in Capernaum. And so they sifted through the remains of lots of different kinds of buildings like centuries -old churches, and what excavators eventually came to find was this house built in approximately 63 B .C. That was originally one story that had walls made of that black basalt stone that we talked about a couple days ago. There was a roof made of beans and branches of trees that was covered with a mix of earth and straw. There was pottery shards and oil lamps and coins all discovered within the ruins, and they all dated back to that first century, along with artifacts that included several fish hooks and things from the layers of the first floor that indicated that it was a fisherman's house. And so the house was organized as several rooms, and it was built around two interior courtyards. And the dimensions by ancient standards were fairly large, but it was very similar to other houses in the area that were built around the same time. It's interesting because this building, they can tell from the archaeology, it was a typical home for extended family, and Peter and Andrew apparently moved the family fishing business from Bethsaida to Capernaum, and they established their home base essentially in this house, and it was large enough for an extended family. But during the second half of the first century, AD, the use of the house was changed. Instead of a primary residential house, the domestic pottery, which is how we tend to live, that domestic pottery stopped, and the walls of the large center of the room became plastered. And that is pretty unusual for the region, except when there were groups of people that will be gathering lots at the time. So instead of it being a residential place, this is now a place that would be housing a lot of people. And there's actually graffiti that are on the walls that mention Jesus as Lord and the Christ, and that's both written in the Greek and some Hebrew. And then pieces of evidence indicate that during this time, the house became this center of Christian worship, and it became a home church. And so this home church continued to be in existence for nearly 300 years, and there's evidence from over 100 Greek, Aramaic, Syrian, Latin, and Hebrew sketches of graffiti there in the walls. It's scratched literally into the plaster walls, and there's numerous crosses, there's a boat, there's lots of other letters, and in the graffiti, there's at least two possible instances where it says Peter's name. In the 5th century, an octagonal church was built right over the original footprint, and I'm going to put some pictures of both of these up on the Patreon if you want to see what it looks like. But I want you to just think about this for a moment. We have archaeological evidence of Peter's home that later became a church. I just love that because so much of the history of the scriptures is lost. Now we do have a lot, but there's very few things that are verifiable, but it is verifiable that Peter had a home in this area in this timeframe, so I love that. So in verse 14, when it references, he saw Peter's mother -in -law. Mark later informs us that both Peter and Andrew lived here, and perhaps had been a home of Peter and Andrew's parents, but it was now occupied by the sons and their larger extended families, including on Peter's side, at least his wife and her parents. And so Paul also alludes to Peter's marriage in 1 Corinthians. And so it says she was lying in bed with a fever. And as Matthew explains this, the actual language says she was having been thrown on a bed with a fever. And what that isn't an indication of is that she was in throes of a severe illness. She was feverish. They think perhaps it was malaria that was really common in that timeframe, that culture. And so fever was considered by the population to be a disease, not a symptom. And so it wasn't just like, you know, we randomly get fevers when we're fighting off a flu or something. The fever itself was seen as a disease. And so we don't know exactly, but like I said, malaria was pretty common, and that is symptomatic. You know, it's consistent with those kinds of symptoms. And so it's interesting to see how Jesus healed her and the response that happens. And as I was thinking about that and praying through that, I was thinking about what healing from Jesus has looked like in my own life. And I think it's consistent with what we see with his mother in law. The response of Jesus healing her produces in her this service upon the Lord. So she immediately got up and started waiting on him. And I've been there. I've been in that place where I have experienced healing, the healing of God in my life. And immediately it puts me in such a place of being thankful and wanting to just serve him, serve him with my life. And I love that we see that picture here. Moving on to verse 17, it says this was to fulfill what was spoken to the prophet Isaiah. He took up our infirmities and carried our diseases. Now, infirmities, of course, mean sicknesses. And this is another allusion by Matthew to the servant that is mentioned in Isaiah's prophecy in Isaiah chapter 53 in the Old Testament. And what he's doing is he's focusing on the servant's role of bringing healing. And so the servant bears the sickness of others through his suffering and his death and eventually his resurrection. And so many modern scholars doubt that first century Jews would have interpreted Isaiah 53 as a messianic prophecy, but some of the later texts from the rabbis in the later time period recognize that this was a messianic interpretation of this passage. And so what we see is even before the Jewish leaders of the time understood what was happening, Jesus was fulfilling this prophecy from the book of Isaiah. In verse 19, it says, then a teacher of the law came to him. Chapter eight, verse 19, it says that. And I want to mention this because the Jewish population, they had a high percentage that were trained in things like reading and writing, but only a very small segment of those people regularly worked with writing materials. And so even fewer had access to the books or of the law or the scriptures. And so therefore, the skills of writing and reading were very highly valued. And so throughout the ancient world, there was a class of people called scribes, which were basically people that were trained in reading, writing and transcribing. And because of the importance of that trade, they would often go beyond just secretarial skills, but they would also include things like teaching interpretation and even helping others to understand and regulate the laws that were found in official documents. So in this culture, the class of scribes that had developed were experts in interpreting the law and teaching the scriptures. And that's why they're called the teacher of the law. And so in verse 19, it says, Teacher, I will follow you wherever you go. The teacher of the law has in mind this kind of rabbi teacher relationship and not even teacher, but rabbi disciple relationship, because that goal of that teacher of the law is to continually educate themselves within the context of the law. So that's an admission from this teacher of the law, recognizing that Jesus truly is this amazing rabbi. If he doesn't even recognize the messianic part yet, he recognizes that there's something different about Jesus. And then going down to verse 20, it says the son of man has no place to lay his head so that the teachers of the law would enjoy a high status within that culture. And so Jesus, as a rabbi and as a teacher, he did not have a school. He did not have a synagogue. He had no real place of honor among that religious establishment, if anything. It was the opposite. And so Jesus would stay at the home of friends and relatives and other disciples throughout most of his ministry. That's what we see. He would stay at the home of places like Peter and Andrew while he was in Capernaum. Or we see in the Bible study, I talk about this. He stays with Lazarus and his family, the sisters, Martha and Mary. That expression, he has no place to lay his head. It doesn't necessarily mean that he is homeless, but rather his ministry as this rabbi in this culture would not result in this institutional establishment, meaning he wouldn't have all the benefits and the comforts that the religious leaders of the time would have.
A highlight from A Leading Candidate for Next Speaker of the House is One of Crypto's Biggest Allies in D.C.
"Welcome back to The Breakdown with me and LW. It's a daily podcast on macro, Bitcoin and the big picture power shifts remaking our world. What's going on, guys? It is Wednesday, October 4th, and today we're discussing so many interesting political stories. Broader political US machinations that have some interesting implications for the crypto industry. Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit .ly slash breakdown pod. Hello, friends. Happy hump day. Now, I mentioned yesterday that I wasn't going to do full SPF trial updates every day. My current plan, although it's, of course, always subject to change, is effectively to save up every few days for really important stuff and give you the full rundown. Now, that said, I will try to give you the very highest highlights if there's anything super important. And really, the only big notable detail yesterday was around witnesses. In addition to the FTX leaders that we know had cut deals with the Justice Department and who were planning on testifying against Sam, including Gary Nashad and Caroline, it appears as though former COO Constance Wang, and probably most notably to the crypto community, former Alameda Co CEO Sam Tribuco, are also planning on testifying. Given that that other Sam has not been heard from, effectively since he went off on his boat in the summer of 2022, that one certainly got some tongues wagging. Now, that said, when it comes to the crypto industry and its actual future, the much more interesting story was drama in Congress. I'm excited to dig into that. But before we do, I'm also thrilled to announce that the breakdown today is welcoming a new sponsor. That sponsor is Kraken. Now, Kraken is a company I've known forever. Their founder and former CEO Jesse Powell is one of the true OGs of the space. And I've just known tons of super high integrity people who have ended up working with Kraken. And I think that that comes out in a lot of different ways, including them being super early, for example, to proof of reserves. I'm really excited to have Kraken on board as a sponsor, and so you will be hearing from them over the course of the show and in future shows as well. But let's talk congressional drama and what it means for crypto. TLDR, House Republicans have plunged into disarray as the fallout from last week's narrowly averted government shutdown plays out. Specifically, House Speaker Kevin McCarthy has been ousted from his position after Matt Gaetz filed a motion to vacate, calling for a vote to remove the speaker. Now, this outcome always had some chance of being in the cards. McCarthy was elected speaker in January after a torturous, modern record 15 rounds of voting. McCarthy made a range of concessions and deals with various GOP factions in order to gather enough support to be elected speaker. Among them was a rule change that would allow any single House member to call for a vote to remove him at any time. Gaetz, who was one of the primary agitators pushing for a government shutdown last week, unsurprisingly pulled that trigger on Monday evening. The last straw seemed to be the revelation of a secret deal between McCarthy and the Biden White House to ensure ongoing Ukraine funding. On Tuesday, the House voted 216 to 210 in favor of McCarthy's removal. Several conservative Republicans joined with Democrats to support the motion. This is the first time in US history that the Speaker of the House has been removed by a vote. Indeed, even calling for a vote is extraordinarily rare, with the last one taking place over 100 years ago in 1910. Now, of course, there will be plenty of places where you can go discuss and hear about what it represents in terms of the state of American politics and the deepening divides within the Republican Party, but that's not really what matters in the context of this show. What matters is that shortly after the vote concluded, Republican Chairman of the House Financial Services Committee Patrick McHenry assumed the Speaker's role and graveled the chamber into recess. McHenry will now serve as the interim Speaker until a vote can be held next Wednesday. So the first part of the story is, of course, that Patrick McHenry, as you will well know from listening to this show, is one of the most pro -crypto congressmen we have. As leader of the House Financial Services Committee, he has worked very hard to push a number of different bills, including the stablecoin bill, through. And so the fact that we now have an ally sitting in that vaunted position should be a powerful thing, right? Well, practically speaking, the House will be held out of session until that vote next Wednesday, meaning that McHenry will not have an opportunity to advance a legislative agenda. Getting back then to who might end up as the Speaker, Gates and the rest of the House Freedom Caucus don't have anywhere near enough votes to advance their own candidate, but they are numerous enough to act as a veto for other potential speakers. McCarthy, for his part, has said he does not intend to put his name forward for consideration in next week's vote. And so, among a long list of potential candidates as a replacement, support appears to be coalescing around two options. First is House Majority Leader Steve Scalise. Scalise is currently finishing up treatment for blood cancer, but enjoys broad respect from both the establishment and radical wings of the Republican Party. The other leading candidate is House Majority Whip Tom Emmer. Emmer is, of course, known to the crypto space as a fierce advocate of sensible crypto regulation. He has advanced numerous bills on clarity for token issuers and resisting the creation of a CBDC. Now, Gates, for his part, has spoken kindly of both frontrunners. On Monday night, he said, I think the world of Steve Scalise. I think he'd make a phenomenal speaker. At the same time, Gates noted that unclear resolution to medical issues make it difficult to know whether Scalise will be an appropriate choice. On Tuesday night, he said something very similar about Emmer and ended the day with a shortlist of six candidates he would be willing to support, including both Emmer and Scalise. Now, if Emmer succeeds in gathering the votes to become the next House Speaker, he has an opportunity to push forward a crypto legislative agenda prior to next year's election. There are currently two bills which have been ratified by a committee and stand ready to be voted on in the House. One bill provides regulatory clarity for stablecoins, while the other establishes a regulatory framework for the crypto industry more broadly, including a division of power between the SEC and the CFTC. Neither bill is expected at this stage to have the votes to get past the Democrat -controlled Senate to become law. But that said, there have been some recent rumblings that Senate Banking Committee Chairman Sherrod Brown could be open to a deal with McHenry. Specifically, he might be willing to support crypto legislation in exchange for McHenry's support in passing cannabis banking reform. Now, we are still a long way from Emmer being placed in charge of the House agenda. There's no telling how long it could take to elect a Speaker. The last time around, this process took the better part of a week to resolve. And since then, the fractures within the Republican Party appear to have become more entrenched. Then after that, once a Speaker is elected, crypto ally or not, the number one consideration will be putting in place long -term government funding. The stopgap funding measures which were passed last weekend will run out in mid -November. The House Freedom Caucus has grown increasingly clear in their calls to reform the way congressional appropriations operate. Since 1990, the U .S. government no longer puts forward formal budgets with individual financing bills. Instead, the government is funded using omnibus legislation which deals with the entire annual spending in one gigantic bill. Gates called for a major reform of this system and a return to fiscal conservatism on Tuesday night in front of Congress. Gates said, You know what I think paralyzes us? Continuing to govern by continuing resolution in omnibus. You know what I think throws this institution into chaos? Marching us towards the dollar not being the global reserve currency anymore. Real chaos is when the American people have to go through the austerity that is coming if we continue to have $2 trillion annual deficits. Now, Democrats, for their part, appeared content to allow the chaos to play out. Ahead of voting with the House Freedom Caucus to remove McCarthy as Speaker, House Democrat leader Hakeem Jeffries said that the chamber has plunged unprecedented into dysfunction. So, bringing it back around to the crypto industry, I think there are a couple things to note. One, even if we get Emmer, his hands are somewhat going to be tied by the legislative body that he inherits and all of the challenges that it represents. As you've probably heard over and over from me, my base case is that we effectively limp over the line of the next election cycle without really getting much done in legislation of any form between now and then. Could this re -galvanize people and lead to some better outcomes? It's totally possible, but for those who are looking for the sunny side for crypto, it's probably very measured in terms of potentially nudging these few bills that have some amount of momentum forward rather than some big radical overhaul. Still, of course, if you're going to choose between a crypto ally as the Speaker of the House and not a crypto ally, it's pretty clear who we want. Now, for the second half of our show, we are going to stay in government land, but before we do that, a quick note from today's sponsor, Kraken. Kraken Pro is an incredible resource for advanced and professional traders. The all -in -one experience allows advanced traders to switch seamlessly between spot trading and other advanced products with a UI that is highly customizable to your unique trading style. With institutional -grade performance, Kraken Pro is Kraken's most powerful platform ever. Go to pro .kraken .com to get started. Thanks again to Kraken for supporting the breakdown. Alright, so as I mentioned, the other big story is that the SEC has been denied an early chance to appeal the Ripple case. On Tuesday, the judge refused to grant the SEC certification to pursue an interlocutory appeal. An interlocutory appeal is when a party is allowed to appeal a partial decision in an overall lawsuit before the case has been fully decided. The SEC had sought to appeal two parts of the decision from the Ripple case prior to a full trial on the question of whether Ripple executives had aided and abetted securities laws violations. Those two parts of the proposed appeal were that sales of Ripple tokens to retail investors through an exchange, known as programmatic sales, as well as the distribution of tokens to contractors and staff, both constituted unregistered securities transactions. The judge said that the SEC had failed to meet the legal standard required to bring an interlocutory appeal. Specifically, they wrote in their order that the SEC is not arguing that the court applied the law incorrectly. Instead, the SEC argued that the judge incorrectly applied factual analysis of the Howey test to the specific set of circumstances in the case. Digging in, the judge clarified their original decision. They wrote that they had not ruled that sales of tokens through an exchange can never produce a reasonable expectation of profits based on the efforts of others in order to satisfy the Howey test. Instead, the judge's decision was that the specific set of facts presented in the Ripple case did not satisfy the Howey test. As an extension of that logic, the judge also rejected the idea that the Ripple case has significant precedential value for other token cases. They stated that that would misconstrue the court's ruling. The order clarified that The court held that based on the totality of the circumstances in this case, including an examination of the facts, circumstances, and economic realities of the transactions, Ripple's programmatic sales could not lead investors to reasonably expect profits from Ripple's efforts. The judge explained that their analysis was based on a multitude of factors and did not turn on the fact that Ripple's offers and sales were on crypto asset trading platforms. They even referred specifically to an order made in the Terraform Labs lawsuit as well as the Library case and stated that the decisions were not in conflict because they deal with entirely separate sets of facts. Peels are only allowed to deal with a dispute on the state of the law rather than a disagreement on how the law has been applied in a particular case. In rejecting the SEC's argument that there was a substantial disagreement about the state of the law, the judge wrote that To simplify it down, the judge appears to be saying that there is no dispute that the Howey test is the correct legal theory to apply in the Ripple case, nor is there any dispute about the judge's understanding of the Howey test. The only disagreement the judge could find on the SEC's application was in how this judge applied the Howey test to the specific facts of the case. The judge ruled that this was not a disagreement subject to appeal. So what are the takeaways of this ruling? Well, one, the decision seems to severely restrict the SEC's ability to appeal the Ripple decision whatsoever. If the regulator wants to bring an appeal, they will need to find new grounds and argue that the judge got the law wrong rather than simply made a decision that they disagreed with. More broadly, this order seemed like an implicit criticism of the SEC's strategy of regulation by enforcement. If each token case relies on a separate set of facts and is of limited precedential value, the theory that the SEC can simply win a handful of cases and apply those precedents broadly across the entire industry appears much more shaky than it previously might have. Finally, the judge in the Ripple case appears to have given a lot of thought on how to make their decision unable to be appealed. This order did not give the impression that the judge was looking to make decisions that would need ratification in an appellate court. Instead, it appears that the original Ripple decision was written in such a way to make it resistant to appeals. They seem to have thought through the arguments that might be made to force an appeal and worked around them in advance. In terms of what's next, the judge set a trial date in April to deal with the remaining issues in the case, and the SEC will be able to make another attempt at an appeal once that trial winds up. Now, a lot of folks in the industry were, of course, very excited about this. Brad Garlinghouse, the CEO at Ripple, said, just that XRP in this case wasn't one, and that even though some XRP acquirers purchased it for speculation, the SEC didn't prove it was tied to the efforts of Ripple. Now, on the flip side, although the judge's decision was fairly firm, some crypto lawyers did caution against celebrating too early. Gabriel Shapiro, the general counsel at Delphi Labs, said, don't get too excited about the denial of SEC's interlocutory appeal in Ripple. It doesn't mean the SEC lost its appeal. It means that if the SEC wants to appeal, it has to appeal everything at once after the trial. Still, some useful clarification of Judge Torres's opinion. Consensus lawyer Bill Hughes, however, thought the decision was a more significant blow to the SEC, tweeting, SEC served another L in the Ripple case. Crypto has been calling BS on this making it up as you go approach. Good to see at least one court also taking note. So, friends, overall, a fairly exciting day in crypto land. We got a demonstration of how U .S. politics, as disconnected as it might seem from crypto, actually has an impact on how the industry might grow and develop in this country. And we got yet further evidence that when it comes to the rule of law and protecting this industry's right to, you know, be an industry, the courts are, at least at this time, our best backstop. In any case, that is where we will wrap for today. Excited to share more evolutions with you as they come. Thanks one more time to Kraken for sponsoring the breakdown. And until tomorrow, be safe and take care of each other. Peace.
A highlight from 1420: Bitcoin Will Surpass $1,000,000 By This Time - Max Keiser
"And here's your prescription. I know just the pharmacy to get this filled. Who are you? A pharmacy benefit manager. A middleman your insurer uses to decide which medicines you can get, what you pay, and sometimes even which pharmacy you should go to. Why can't I go to a pharmacy in my neighborhood? Because I make more money when you go to a pharmacy I own. No one should stand between you and your medicine. Visit PHRMA .org slash middleman to learn more. Paid for by pharma. In today's show I'll be breaking down the latest technical analysis as one analyst predicts a Bitcoin price crash all the way down to $20 ,000. And check it out moving forward all crypto news alerts YouTube videos will have both English and espanol subtitles available. I'm also currently working on a dedicated channel dubbed 100 % in espanol. Let me know if that excites you. Also check this out Stanley Drunkenmiller is now known as one of the most successful hedge fund managers on Wall Street and is currently worth $6 .2 billion. He says straight up frankly if the goal bet works the Bitcoin bet will probably work better per each. Also in today's show Ethereum futures ETFs garner a lukewarm reception on the first day of trading with all of the trading volume across nine products at less than $2 million. We'll also be discussing the crypto community tells Elon Musk to dump the Satoshi X account. I'm also going to be sharing with you a Satoshi Nakamoto secret email emerging from the shadows never shared before. As well as here's what's in store for Bitcoin in the S &P 500 for quarter four of 2023. According to crypto analyst Jason Pizzino I'm also going to be sharing invest answers unveiling his max upside price target for Bitcoin in 2025. And quoting Max Keiser from November of 2011 he says Bitcoin has about 100 ,000 users now. My goal is to try to get that number up to 1 million in 2012. He also shared his short -term price target of $65 ,000 back in January of 2021 and lo and behold by November we smashed that price target. He now says that BlackRock agrees with my 220 ,000 interim price target for Bitcoin which he says is still in play. He also says by the time America catches up to El Salvador and starts buying Bitcoin the price will be over a 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 again that's crypto news alerts dot net welcome everyone just joining us this is a live show as you know seven days a week welcome to the number one daily Bitcoin pod this is pod episode number 1420 just blaze today is October 3rd 2023 and the markets are correcting and consolidating after the recent pump let's kick off today's show with our market watch as we do each and every day you can see Bitcoin correcting down 2 .2 % trading just above twenty seven thousand two hundred dollars also ether is down trading at 1650 along with the majority of the altcoin market and checking out coinmarketcap .com we're still sitting at 1 .08 trillion dollars with roughly 36 billion in volume in the past 24 hours we've got the Bitcoin dominance which has recently been on the climb currently at forty nine point three percent with the ether dominance barely up trading at eighteen point four percent and checking out the top 100 crypto gainers of the past 24 hours we got gala leading the pack up almost seven percent trading at one and a half cents followed by conflux up three percent trading at thirteen point six cents followed by polygon matic three percent trading just under fifty seven cents and checking out the top 100 crypto gainers of the past week we can see ultimately a sea of green with a handful in I mean a sea I should say of red with a handful in the green with our LB leading the pack of roughly seventeen percent with the biggest losers being Bitcoin cash and Ave down collectively roughly seven percent and checking out the crypto greed and fear index one of my favorite indicators hence why I shared every day in the show we're currently rated dead in the middle with a 50 which is neutral same as yesterday last week was a 46 and last month a 40 in fear so there you have it how many of you are currently bullish on the king crypto let me know and how many of you are anticipating a low as I'm going to be sharing an analyst predicting a twenty thousand dollar price crash and we'll be breaking down everything in between so let's get it shall we and again welcome to everyone just joining us make sure to say hello in that live chat as this is a live and interactive show and at the end of the show I read everyone's comments out loud so let's break down today's Bitcoin technical analysis Bitcoin just hit six week highs to start off October but some forecasts still see the Bitcoin price returning to twenty thousand in which lo and behold there's a CME futures gap if you didn't know and while up around six percent since the start of last month and now circling twenty seven five Bitcoin is not fooling many with its current price behavior the Bitcoin price strength in the recent weeks has many market participants hoping for a push and even through thirty thousand resistance send it let's go for some there remains every reason to be cautious however in an ex post analysis published October 2nd popular trader crypto bullet reiterated that twenty thousand is still very much on the radar as the Bitcoin price target the latest trip to twenty eight six he argued is now forming the right hand shoulder of a classic head and shoulders chart pattern with the downside logically due to follow if it completes quitting analysts here second half of October should be bearish in my opinion the idea was built on an August roadmap with a short term upside target of twenty eight thousand before reversing towards that twenty thousand target let me know if you agree or disagree with the analysts I disagree I think we are bullish for this October and I think we're more than likely to continue up but it's good to cover all our basis is here now not all reasons headed heeded his warning with fellow popular trader you easy in particular skeptical of the likelihood for this scenario playing out crypto bullet however is far from alone when it comes to fearing that the worst for Bitcoin is over yet and one of crypto quants quick take blog posts on September 28th we had Wetson founder and CEO of crypto trading resource dominando crypto compared bitcoins performance between 2020 and 2022 quitting the analysts here between 2020 and 2022 Bitcoin underwent a notable appreciation region historic highs and capturing global attention however this phase was followed by significant correction that caused the prices to plummet sending crypto back to the lower levels say goodbye to your credit card rewards big -box retailers led by Walmart and Target are pushing for a bill in Congress to take away your hard -earned cash back and travel points to line their pockets Senate bill 1838 would enact harmful credit card routing mandates that would end credit card rewards as we know it if you love your credit card rewards visit hands off my rewards calm and tell them to oppose credit card routing legislation paid for by the electronic payments coalition now we also suggest that should history repeat a sub 20 ,000 level could resurface and an accompanying chart offered a fractal which now has been subject to a repeat quoting him again now in 2023 we are once again witnessing Bitcoin achieving over a hundred percent gains attracting substantial interest from institutional and retail investors nonetheless the market has recently experienced significant volatility and a downward price trend the similarity to the past raises questions about whether we are witnessing a repeat of the 15 ,500 USD if this fractal holds over the next few weeks which could result in a series of FUD and negative news in the crypto space furthermore there's a possibility of a redistribution where the price threatens significant highs but institutional profit -taking forces the price down creating the atmosphere of uncertainty in the market and as reported we also had another analyst rack capital who's demanding that the bulls step up to protect this support in order to avert the long -term retracement now for news as I shared in the intro of the show moving forward all crypto news alerts YouTube videos will have both English and espanol subtitles available and I'm currently working on a dedicated channel dubbed 100 % and espanol so we can serve our Latin community for the Bitcoin daily news let me know if this excites you and if you'll be one tuning in and also as shared here breaking news Stanley drunken Miller known as one of the most successful hedge fund managers on Wall Street who has worked 6 .2 billion he says frankly if the goal bet works then the Bitcoin bet will probably work better how many of you believe that he is probably right let me know your honest thoughts fam in the comments right down below and with that being shared yesterday was a historic day for ethereum futures ETFs launching however they ultimately flopped with less than two million dollars in trading volumes across nine assets so let's break this down and discuss it shall we here we go check it check it check it the rush of excitement that accompanied the launch of nine new ethereum futures ETFs appears to have yielded little in the way of investment dollars in comparison October 2nd nine new ETF products which are designed to track futures contracts tied to the value of the ethereum native currency arrived on the market of these funds only five hold exclusively ether futures while the other four track a mixture of Bitcoin and ether futures contracts quoting Eric Balchunes right here unprecedented day today with multiple ETFs all launching at the same time no clear winner has emerged all of them were pretty average lower than I would have predicted but it's a long run and remember these hold futures ETFs investors much prefer physical to derivatives that's right we much rather prefer spot ETFs because there's nothing but manipulation and price suppression continuously occurring in the futures market all by design hence by the regulators decide not to approve anything spot related but they continue to approve the futures ETFs which blows my mind personally in total all nine ETFs witness less than two million dollars worth of trading volume which is essentially nothing as a midday Eastern Time on the first day of trading the most popular of the futures ETFs products were Valkyrie's Bitcoin strategy ETF which tracks the combo of Bitcoin and ether raking up a total of 880 2 ,000 worth the volume it's worth noting had already been trading as a Bitcoin only futures ETF since October of 2021 but then adjusted its strategy to also include ETH the first day trading volume of ether ETFs paled comparison with that of the pro shares Bitcoin strategy ETF which debuted October of 2021 one month prior to hitting that all -time high and during a roaring market for crypto assets obviously it witnessed more than 1 billion dollars in trading volume on its first day so Wow compare that 1 billion in 24 hours to less than 2 million in 24 hours crazy now Balchune has noted that compared to the regular traditional finance ETF launched the volume witness was actually quite a lot though investors tend to prefer spot ETF products over futures Balchune has explained that all the products were scheduled for launch on the same day as the SEC wanted to prevent any one fund from gaining market domination now what if the SEC decided to do the same thing with the spot ETF approved them all at the same time like whoa meanwhile a range of United States firms jostled for the pole position for the nascent ether futures market ETF firm volatility shares canceled his plans to list a similar product saying that it didn't see the opportunity at the current time well we all know this we're all seeking the spot ETFs those are the game changers and there is probably about a 95 % chance that the BlackRock Bitcoin spot ETF get approved in 2023 I mean 2024 we're in 2023 hopefully right before the having occurs scheduled to be in what is that April of next year roughly six months out as we know it's gonna trigger trillions of dollars cascading into the Bitcoin market and that alongside the Bitcoin having are the two biggest catalyst for 2024 and let's add a third bullish catalyst which is a supply shock as there's currently less than two million Bitcoin sitting on the exchanges and for these ETFs once they get approved for the spot they have to be holding the underlying asset so there's gonna be mass accumulation continuing by the whales not only in this fourth quarter of 2023 but collectively in 2024 as well so let's freaking go and with that being shared now for the Satoshi X saga going on and also I want to share with you Satoshi Nakamoto's secret letter which came from the shadows never shared before I've never read it I'm gonna be reading it in real time with you so let's break this one down shall we members of the crypto community have rallied behind a post on X calling for Elon to remove a profile claiming to be the fabled creator of Bitcoin Satoshi Nakamoto and here's your prescription I know just the pharmacy to get this filled who are you a pharmacy benefit manager a middleman your insurer uses to decide which medicines you can get what you pay and sometimes even which pharmacy you should go to why can't I go to a pharmacy in my neighborhood because I make more money when you go to a pharmacy I own no one should stand between you and your medicine visit ph RMA org slash middlemen to learn more paid for by pharma October 3rd the user posted saying that both the account claiming to be Nakamoto and account with the handle Bitcoin should be removed because they breached the platform's terms of service which says doesn't allow misleading and deceptive identities as predator shared here hey Elon Bitcoin and Satoshi accounts are in breach of your terms of service for using misleading and deceptive identities please remove their checkmarks I guess it could be confusing to people thinking it is an official Bitcoin account and we know there will never be an official Bitcoin account and an official Satoshi account which we all know there will never be an official Satoshi account he says you can't misappropriate someone else's identity without disclosing you are a parody account it is no different than making a fake Tesla or Elon Musk account and I think he makes a great point what are your thoughts chat let me know the true identity of Nakamoto has been subject of discussion and the Bitcoin and crypto community as we know since the inception Satoshi X account is reportedly run by a user named Andy Rowe who was claiming to be posting from a profile back in 2018 and on July of 2018 Rowe said he curates quotes for the Satoshi account as outlined right here the account had been quiet since October 31st of 2018 however October 2nd yesterday the account made a new post saying Bitcoin is a predicate machine and went on to explain that it would explore different aspects of the Bitcoin white paper over the coming months as Satoshi Nakamoto announced here on X now what are your thoughts fam let me know another user call for the accounts to be disabled linking or likening them to how X responded to the account with the handle internet yeah interesting the Bitcoin creators true identity to this day remains a mystery what many people over the years claiming to be the true Satoshi the most prominent of which is fake Toshi Craig right now let's discuss this particular letter which recently surfaced from the shadows allegedly from Satoshi Nakamoto check this out fragments a Satoshi secret identity the genius responsible for the birth of Bitcoin has resurfaced shedding new light on the creation of the world's first crypto this revelation comes in the form of an email and bearing the date August 22nd 2008 we all know the Genesis block was I believe in January of 2009 now the email director to computer scientist way die offers a captivating window in the nascent stages of bitcoins creation a journey that would go out to profoundly alter the contours of the global financial realm this recently unveiled correspondence serves as a valuable historical artifact shedding light on the intellectual exchanges and collaborative efforts that paved the way for the development of Bitcoin by delving into this previously hitting piece of communication from Satoshi to way day we gain invaluable insights into the genesis of the revolutionary crypto a technology that would ultimately disrupt and redefine traditional financial paradigms worldwide so let's discuss it in the email Satoshi expresses profound admiration for way dies be money page indicating a strong connection to dies groundbreaking work in the field of digital currencies Satoshi goes on to reveal his intention to release a comprehensive paper expanding upon dies ideas ultimately culminating in the birth of Bitcoin now let's read the actual letter you can see it's dated here August 22nd 2008 sent at 438 p .m.
A highlight from 1272. BlackRock CEO Hints at DeFi & Bull-Run! | FULL BREAKDOWN
"All right, so let's drill down into Larry Fink's brain today. We're going to do this. He did a big interview at a Bloomberg event, and it breaks down a lot of not only his ideas of where the markets is going, but also some of the technologies within crypto that are going to affect all of this. I'll break it down for you guys today. My name is Paul Bearer. Welcome back into Tech Path. All right, let's get into our first clip. And this first clip is breaking down interest rates over the next few years, what it looks like from the man himself. Larry Fink, listen it. You have Jamie Dimon, for example, saying rates in the U .S. could go to 7%, and we're not ready for it. Is he right? Look, we all have opinions. I mean, I've been saying for over a year - I want to know your opinion. My opinion is we're going to have 10 -year rates at least at 5 % or higher. All right, so you heard it, higher, longer 10 -year rates holding on to that, but yet still very optimistic in terms of the overall position, so a little bit more hopeful. Rick Ryder, who is one of the key investment guys there at BlackRock, who manages like almost $3 trillion in assets, he also came in on this clip. Listen in to what he had to say. So I think there's a couple of things that are going to happen. I think when the Fed starts, and I think they'll start cutting rates in the second half of the year. I don't think they're in any rush that they need to do it. Second half of this year? Second half next year. Okay. Just wanted to make sure. Thank you for that clarification. I would have been buying stocks. Yeah, yeah, yeah. All right, so he's looking toward the third quarter next year. We talked about that before, is that that most likely will be the case with this higher for longer approach that goes into this. Now, the key here is, is what is causing this? Now, what are we seeing this in terms of the market disarray, the pushback, the consumer spending that's been holding inflation high? They get into it a little bit here around wages being too high. Listen in. The whole idea about restricting immigration. And in the United States, we've had close to a trillion dollars of fiscal stimulus just beginning its J curve. These are huge job creators and at the same time we have restricted immigration and as a result of it, you know, we see more wage pressure. So at what cost? We have in the United States, a very protracted strike between the auto workers and the auto companies. It has been reported that the union is asking for a 40 % increase. So at what cost? What do you do with a problem like that? Right now, I think in our mega trends, right now we are under invested in China. Under invested in China. That's interesting. OK, so a couple of points here to make and also to kind of references the framework of why these strikes are occurring, especially with the United Auto Workers strike. You look at it and it really boils down to corporate greed. I mean, at the essence, you've got all these car companies who have been feasting on American consumers for quite some time, for the last couple of years. Here's Stellantis as an example all the way back to 2016 when they were kind of flat and then right there 2018 blows up. Obviously, we saw the impact on the markets and then just this continued climb of Stellantis stock price. Now, part of that has been just because obviously car sales have continued. So his point of that wages are too high, that this is causing a lot of disarray within the market, there's an alternative to that as well. Let's go to this next clip, because Biden, actually, it's an article here, Biden actually responded to a little bit of this issue around the UAW. Remember, he's very pro -union, but his statement was he asked if he supported the 40 percent increase on the union and asked for it. He said, hey, listen, it's it's really more of a bargaining chip, really, than anything. And I would agree, you know, because it's kind of you ask for the highest amount you can and then you settle in with where it may end up. And I think that's what Stellantis is going to end up doing here as we go further. Remember, the key here with think is if you are very pro and I'm pro capitalist guys, don't get me wrong, but if you're a super capitalist, meaning you are absolutely just wanting to run amok within corporate greed, then you do want a lot of immigrants coming into the country and you want these kinds of mainly from just an optics standpoint, because it does start to put pressure on American workers. And I think that's the thing that everybody is looking at is how do we keep job wages low? And when I say everyone, meaning these capitalists that are really pushing at this. So this gets into some pretty big issues right here, even though he's asking for more immigration. I want to play this next clip to show you just kind of where immigration currently is. Let's listen in. In just one week, they came by the thousands, group after group after group of migrants streaming into Eagle Pass, Texas, prompting the border town to declare a state of emergency and straining the nation's immigration system. Again, the Border Patrol encountered a record two point two million people crossing the border illegally. The numbers went down a bit in the fiscal year ending this month, but are still high. Anybody that thinks this is a secure border is delusional. And this is something you see every day. All right. So as you can see there, does it look like we're restricting immigration at all? I think his point is really, really more toward the whole idea of, you know, higher wages being pressured, getting into that side of it. All right. So let's get into this next clip that talks about the recession and whether or not it's going to be bad, good, all that good stuff. Listen to what he had to say. Does that mean we are headed for a recession right now? I think we're going to see some economies enter recessions early. Which ones would that be? Well, I think Europe is more sensitive to the ones that are more sensitive to this elevated interest rates. Whatever the recessions we're going to have, they're going to be quite modest. So I'm not even that fearful. In many areas, you may need a recession to bring down labor demand. All right, so again, back to the point he's talking about, that's profitability and a lot of companies, once you bring down labor demand, that's one of the biggest issues there. He also gets into the point of what could be the catalyst to cause longer, a longer recession play into this. Here's what he had to say. So throughout history of U .S. growth slowdowns, we have underestimated every single one of them. Are you confident we're not making that same mistake again? If fear becomes worse, then consumers pull back and the recessions are going to become more protracted. We have elections in so many places in the world. We are going to have many political candidates who are going to provide a lot of fear. I think the political winner is the one who provides the most hope for the future or what people believe with the hope of the future. Do you see that, though? Do you see anyone projecting hope? I dearly hope so. I'm projecting hope. Larry for president? I don't know. No, I'm too young. I love that. All right, so I want to get into an area around reimagining bank lending, and this is where it starts to get into crypto or at least the underlying efforts of what he's thinking about crypto, because this is going to be kind of that format of how crypto will start to integrate into the banking system. Let's know what he had to say. We need to reimagine finance because of Dodd -Frank in the United States. Banks can't lend. And more of that, you know, the world doesn't want to get to the developing countries. They lend well, but clearly. All right, so obviously that's where, you know, stablecoins, DeFi, this starts to solve all those problems that we're going to be looking at around tokenized assets. I want to go to a clip here from Bankless asking really what's holding this back. Listen in to what they had to say in this interview. What you're buying today when you buy a stablecoin on the back end, it's cash and cash equivalents. That's an accounting term to say treasuries, repos and some cash in banks. The thing that is not like flowing through is the yield component. So you're getting a zero percent yield on your stablecoins today. So I started looking at someone has to have built something that solves this problem and no one had. The big challenge here is how do you bridge these two worlds, giving clarity on the real world asset side? So someone has to hold a treasury, a treasury bill, and that person was buying those treasury bills. At small scale, you can buy, but if you're starting to buy anything at meaningful scale, you have to show where the money came from and that where the money came from, the compliance AMLKYC component was hard to do. So we said, OK, if we want to offer this, you have to be regulated to do this at scale. And that is the biggest challenge that everyone in this industry faces is how do you answer that regulatory or legal structure in question? It sounds like what you're trying to build is the largest pipe possible between the government, United States government, risk free rate and DeFi. And right now you're saying that this pipe is actually constrained by our current stablecoin paradigm, the current meta of stablecoins, because you go through it vanilla dollars first when really you can just go more, let's get right to the punchline of this whole thing, which is like, let's take the yield of the risk free rate and get it into DeFi.
A highlight from MARKETS DAILY: Crypto Update | SEC Chair Faces Harsh Questions as Ether Spot ETF Proposals Hit Delays
"This episode of Markets Daily is sponsored by Kraken. It's Thursday, September 28th, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Acheson, CoinDesk collaborator and author of the Crypto's Macro Noun newsletter on Substack. On today's show, we're talking about Ether ETFs, SEC confusion, and more. So you don't miss an episode. Be sure to follow the podcast on your platform of choice. And just a reminder, CoinDesk is a news source and does not provide investment advice. Now, a markets roundup. Well, Bitcoin has been busy over the past 24 hours. After that nice run -up yesterday that I thought was a sign of strong investor support, the Bitcoin price rapidly fell back down again. It has been climbing since, however. At 10 a .m. Eastern time, it was more or less flat, trading at $26 ,532. Depending on what happens over the next couple of days, Bitcoin could break the trend of negative performance in September. The ninth month is typically a weak one for crypto's leading asset, delivering negative returns over the past six Septembers. Bitcoin's average performance for the month is almost negative 5%. As of this morning, however, the asset price is up more than 2 % month to date. That kind of a break in the trend would be welcome news. In Ether, interesting things are happening. Like Bitcoin, it climbed yesterday and then fell back, only to start climbing again, but with a more consistent slope, suggesting a steadier over the past 24 hours. Relative to Bitcoin, Ether has notably outperformed over the past week, climbing two tenths of a percent versus Bitcoin's drop of 2 .3%. This could be due to the likely listing next week of the first Ether futures ETFs, which could boost demand and market volume. I'll talk more about this in a moment. In traditional markets, US stocks closed more less flat yesterday, rising in the second half to recover early losses. Over the past 10 days, the S &P 500 is down more than 4 .3%, the steepest 10 -day drop since March. You may remember that March was banking stress month. Investors are rattled by the surge in 10 -year Treasury yields, which yesterday rose above 4 .6 % for the first time since October 2007. The rising rates are investors for three main reasons. One, there's the patterns last seen just before the great financial crisis of 2007 -2008. Two, there's also the impact on company earnings. An article in the Financial Times this morning pointed out that interest expenses for the S &P 600 small cap index hit a record high in the latest batch of second quarter earnings. And 30 % of companies in the S &P 500 are now trading at a higher rate. Reason three, there's the message the market is sending. This is that it expects rates to remain higher for longer. This is likely to keep the dollar strong and inflict more pain on global markets. In Europe, stock indices have been taking a breather from their recent drops, with most showing moderate gains so far today. Over the past month, however, the Euro Stoxx 50, which tracks Eurozone blue chips, is down over 4 .3%. An index of Eurozone economic sentiment released this morning showed a fifth consecutive monthly drop in September. Inflation expectations rose. In commodities, oil prices continued their climb in the face of fears of supply shortages. The Brent crude benchmark rose above $96 per barrel for the first time this year this morning and is now almost 6 .5 % above its level a year ago. However, the market is signalling that this could abate soon. The prices of futures contracts six months out is lower. This suggests a scramble for spot delivery. In other words, oil now and not later. This has been most likely triggered by reports of reserve drawdowns in the US and the need in many areas to build up stocks as winter approaches. Moving over to gold, after a brief attempt at a recovery earlier today, gold slumped back to its support at $1 ,874 per ounce. Like Bitcoin, gold is holding up surprisingly well given the strength of the dollar and of real yields, which are yields adjusted for inflation. Gold normally moves inversely to real yields. When these are high, gold is less attractive as it doesn't produce an income. As measured by the 10 -year Treasury inflation -protected securities, real yields are at their highest since 2009. The last time they were at these levels, gold was roughly half the price it is today. One key macro data point to watch out for is the US Personal Consumption Expenditures Index, or the PCE. This is the Federal Reserve's preferred inflation gauge as it measures goods and services bought by all US households and non -profits, while the CPI only measures purchases by urban households. Tomorrow morning Eastern Time, we get the latest data for August expected to show an uptick. This will largely be due to higher energy prices. Stripping out higher energy and food prices gives us the core PCE index growth, which is what the Fed focuses on. This is forecast to show a continued downtrend. Remember, though, that August's core CPI grew by slightly more month -on -month than expected, so there may be a negative surprise tomorrow as well. This will be relevant for interest rate expectations. Stubborn inflation means that rates will remain, and you've heard this before, higher for longer. Stay tuned, after the break we'll take a look at more SEC frustration and at the likely listing of Ether futures ETFs.
A highlight from Crypto Update | SEC Chair Faces Harsh Questions as Ether Spot ETF Proposals Hit Delays
"This episode of Markets Daily is sponsored by Kraken. It's Thursday, September 28th, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Acheson, CoinDesk collaborator and author of the Crypto's Macro Noun newsletter on Substack. On today's show, we're talking about Ether ETFs, SEC confusion, and more. So you don't miss an episode. Be sure to follow the podcast on your platform of choice. And just a reminder, CoinDesk is a news source and does not provide investment advice. Now, a markets roundup. Well, Bitcoin has been busy over the past 24 hours. After that nice run -up yesterday that I thought was a sign of strong investor support, the Bitcoin price rapidly fell back down again. It has been climbing since, however. At 10 a .m. Eastern time, it was more or less flat, trading at $26 ,532. Depending on what happens over the next couple of days, Bitcoin could break the trend of negative performance in September. The ninth month is typically a weak one for crypto's leading asset, delivering negative returns over the past six Septembers. Bitcoin's average performance for the month is almost negative 5%. As of this morning, however, the asset price is up more than 2 % month to date. That kind of a break in the trend would be welcome news. In Ether, interesting things are happening. Like Bitcoin, it climbed yesterday and then fell back, only to start climbing again, but with a more consistent slope, suggesting a steadier over the past 24 hours. Relative to Bitcoin, Ether has notably outperformed over the past week, climbing two tenths of a percent versus Bitcoin's drop of 2 .3%. This could be due to the likely listing next week of the first Ether futures ETFs, which could boost demand and market volume. I'll talk more about this in a moment. In traditional markets, US stocks closed more less flat yesterday, rising in the second half to recover early losses. Over the past 10 days, the S &P 500 is down more than 4 .3%, the steepest 10 -day drop since March. You may remember that March was banking stress month.
A highlight from DAIM - The Investment Advisor Dedicated to Crypto
"Hi everyone, Andy Pickering here, I'm your host and welcome to the Crypto Conversation, a Brave New Coin podcast where we talk to the people building the future in the Bitcoin, blockchain and cryptocurrency space. Hey team, we have a new sponsor here at the Crypto Conversation, BitGet, one of the world's leading copy trading cryptocurrency exchanges, yes indeed. What happens if you've got the funds to invest but you don't have the time to keep track of the market? You still want to make smart money moves? What do you do? Well, copy trading is a popular choice for beginner traders. You can shorten your learning curve by uncovering tips and strategies from more experienced traders. BitGet's copy trading platform has over 80 ,000 elite traders to choose from and 380 ,000 followers just like yourself who are already using the BitGet copy trading platform as a potential passive income stream. All it takes is one click, you can subscribe to an elite profitable strategist, set your limits, automate your orders and monitor their trades. I've got some links in the show notes below, one link will take you through to the BitGet sign up page, give you a VIP discount. So learn all about it for yourself, thanks to BitGet. And now it is on with the show. My guest today is Brian Courchene. Brian is the founder of the Newport Beach based DAIM. I believe it's one of the first US registered investment advisors dedicated to crypto. I will learn more about this today. Welcome to the show, Brian. Hey, thanks for having me, Andy. Glad to be here. Glad to have you here, Brian. Let's do what we do at the beginning of the show. Big, good if you could please introduce yourself, I really love to hear a little bit about your personal and professional backstory and the lead up to founding DAIM. Yeah, yeah. So we're here in the United States in California, specifically in Newport Beach. And where I come from in the background is I got my start on Wall Street, actually on the floor of the New York Stock Exchange. I got with a guy and started writing paper tickets and backing up their floor traders. And then I went on to be a trader in the pit there on the options side. So I was there for 13 months. And then from there, I worked at different broker dealers in New York City, specifically as a vol sales specialist. And that was great. And in 2014, I came across Bitcoin on my own research. October, I made an allocation to it. It was the first one. And from then on, I was kind of the go -to guy. Maybe nobody had a position on the floor, nobody had a position in the building. And I was a guy that people came to when they had questions about the space and this grew and grew and grew. And then in 2017, in the early part of the year, pre -ICO run -up, I had realized that there was a need for a properly licensed advisor and asset manager in the space. Everything that was out there was self -directed. Coinbase, for example, you go on Coinbase, it's all up to you to move your own money, decide what to buy, when and how, and people just needed a human help to this. And so what I realized was that there was also a larger allocation that people wanted to make to the space and they wanted to do it with someone that maybe had some kind of licensing that they could fall back on or recourse. And so I left the firm that I was working at in New York City and moved here to Newport Beach to start building this business to be the first of its kind licensed registered investment advisor in the United States to advise and manage assets for individuals. And so as fast track as that sounded, as simple as it was, it was a bit more of a challenge than that at the time when we were dealing with the regulators and getting the business approved, it took us into 2018 and for people who know prices, the price of Bitcoin had come off from the all -time highs in 2017. January 1st, it was $13 ,500. And then by the time we got into May, it was sub $10 ,000. And so the regulators kicked back a little bit saying they didn't want to license the first of its kind advisor in the space. That was kind of defeating because I'd spent quite a bit of money in my own Bitcoin to build this and get it going. But I didn't stop there. And I basically made a case with them saying, look, you got to approve this business. There's nothing like it out there that can actually help people. And I'm probably the most qualified thing you can get right now. I had the Series 4, which is an options principle. I had the Series 24, which is a compliance officer. I had owned Bitcoin again since 2014. I had the Series 65 and I said, people need help in this space. And we ended up getting the license. It was actually the next day after that phone call. May 31st, 2018. And since then now, yeah, we advise and manage crypto positions for individuals in the United States and corporations. Yeah, fantastic. So DAIM, of course, just stands for Digital Asset Investment Management. You say then that you are helping individuals with their crypto positions and allocations and maybe even their decision making. Just talk us through a little bit more about what that means, Brian. Who are the kind of different target markets or customer segments that your firm services? Yeah, so a typical client for us is generally a business owner in the United States, quite busy with what he's got going on, but wants to have an allocation to the space. Generally, something much larger than a few thousand bucks or 10 grand that somebody would on typical a exchange, Coinbase, Gemini, Kraken, they want to make a larger allocation, maybe something in the hundreds of thousands or even millions to the space. And so they get with us. Things look very familiar from kind of an onboarding standpoint to what their traditional investment advisor might look like. And then we have the license check where they can look us up on the SEC's website. And then we take them through a new client profile where we get to learn a little bit about and them we can then go with them about, okay, this is the allocation we think you should make. Maybe sometimes we've got to walk them back from being too big. And then this is the portfolio we want to put you in. And then from there, it leads to usually a transfer of some sorts from like a traditional investment management firm, Schwab, Fidelity, stuff like that. So we handle the transfer, the funds land, and then we put in place our model portfolio, which is our best thesis on the space. And then we manage their assets according to that. And we actually run that across all of our discretionary clients. So our clients, not only do they get an advisor and a manager sitting on top with a license, but also a portfolio that gets professionally managed, kind of like a fund. The difference is that we run a flat fee and we don't add the performance fee on top of it. And so from there, once they're onboarded and invested, they get 24 seven view access into the account. They get regular statements. If it's a taxable account here in the United States, we work on things like tax loss harvesting. Should that be needed? 10 99 beneficiaries. And then we go into the tax advantage accounts. So we can do things like IRAs, traditional IRAs, Roth IRAs, SEP IRAs, Roth 401ks. And then we even do a corporate 401k where a business can put in place a plan for their employees that gives them the ability to have up to 10 % in pure Bitcoin alongside traditional mutual funds. And this is something actually we're really excited about coming out of like a pilot program. And it's something we want to expand into market. Yeah, I mean, but to jump into their first thing, Brian, I guess, yeah, the idea of having a even a small allocation into people's 401k funds would be obviously a good thing for Bitcoin and presumably a good thing for individuals that do have Bitcoin in their 401ks if over time Bitcoin does appreciate. But do you see, is there a demand for this and you can see this growing over time? Yeah, so the 401k market is quite large. The addressable market is just massive and there's just nothing servicing really alternative investments. And that's where Bitcoin comes into being kind of like a liquid easier alternative investment instead of something like real estate or VC funds. And so when we put the plan out and we went and looked for pilots for this, we thought that it was going to come from mostly crypto native companies or tech startups. But what we found was quite different. We found that interest came from traditional businesses, law firms, construction companies. And when we put the plan in place, when you look at like who wants to participate and who elects for Bitcoin and how much, you actually see it's kind of the crowd that's over 40 and professional and people that you wouldn't think would be so technology native, but it's people that kind of understand like you got to take a little bit of risk and Bitcoin's been around for a while and why not go for that? Because it actually does improve the Sharpe ratio of these portfolios. And so, yeah, it's been surprising to us, which is actually a good thing, because eventually the people that are in the younger generations that are in tech startup or crypto events will get older. They'll have more money in their 401Ks and eventually they'll have the option when they're ready to participate in this. Yeah, very well said. So you said also, Brian, that you almost manage like kind of like a fund, which is DAIM's, I guess, crypto portfolio thesis. Right. So that's correct. I wonder how much of that you're prepared to talk about in terms of, I guess, what that portfolio fund breakdown in terms of crypto assets would look like. And it's notoriously hard, obviously, to beat Bitcoin just with a buy and hold strategy over a kind of long time zone. What's your approach to trying to, I guess, beat the market on behalf of your clients? Yeah, I can talk about this quite a bit. So on the structure side of it, it's set up as SMA here in the United States. Separately managed accounts. So all of our clients actually have their own accounts and the assets are not co -mingled, but we do manage them with an overlay. And that way we can get the trades done and rebalancing as needed. And the great thing about that is it gets back to us being liquid at any time, unlike having a lockup period with a fund. And so when we have that structure, then we move into being able to manage these assets quite easily and then offer our clients the liquidity that's needed. And then as the thesis, when I first started the business and we were running our model portfolio back in 2018, it was Bitcoin only. And we looked at the space as we want to have low turnover. We don't want to incur a lot of trading fees. We don't want to incur a lot of taxes in these accounts, but we also understand that being long crypto in itself is the best way to get multiples on your return. And then when you go to allocate away from Bitcoin and go to seek alpha, you got to see if you're going to have a strategic outperformance. And then what seems easy to say now, in the beginning of 2020, we had done our research on Ethereum and the upgrades that were to come, and we decided to make a 20 % allocation to Ethereum at that time from the book, which worked out really well for us. And it got to a point to where we've allocated away and Bitcoin shrunk to be a little less 60 % of our portfolio. And then we allow these assets to take course. We look at everything from a fundamental standpoint. When we do use technicals, it's really on just deploying and pulling out of positions. And so at the position we're at now, I should back up. Last year, we had closed out a majority of the Ethereum position into the upgrade and went into cash for a while, which helped us through a bit of the downturn last year and gave us capital to start redeploying at the beginning of this year. And so in our search for alpha, we haven't quite found what we like outside of Bitcoin and Ethereum. So we redeployed into Bitcoin, balanced the book 90 % Bitcoin, 10 % ETH. And now we're looking to make some strategic allocations away from both of those as we see us kind of being in the trough zone here, coming out of the bear market and entering a bull market. Yeah, fascinating. And it's interesting, Brian, that you say it's very difficult to find compelling crypto asset allocations outside of Bitcoin and Ethereum. And I suppose being so heavily overweight Bitcoin at the moment looking forward, I suppose that is probably due to the two big catalysts, two big narratives that are around Bitcoin at the moment. I'm talking, of course, of the fourth Bitcoin halving coming around March, April next year. And of course, the BlackRock's Spot Bitcoin application. So yeah, I'd love to understand just how you think about those two data points and perhaps their potential to make Bitcoin interesting again. Yeah. And there's something to touch on, too. What you started off with is looking at all the other investments outside of Bitcoin and Ethereum. And so I'll hop into that in the second half of this answer. But when it comes to the halving and the BlackRock ETF, the halving is an event that's always on the radar. And that has tend to seem price appreciation somewhat after the event. And this stuff has become well known. But what really changed was seeing BlackRock come into the space. And that was further affirmation to us that we are entering a bull market. And there are some very big players that think that there's going to be severe demand and drastic price increases in the space. And so that's another data set to us that says, okay, we don't want to be in cash anymore. We do need to be invested even though we cannot find something at the moment outside of Bitcoin and ETH. We at least want to participate in the market and be in Bitcoin because the narrative can change very quickly in this space. And so it comes to things like this, too. If you look at like key figureheads in the space and their price predictions, you got Arthur Hayes at $70 ,000. Guy Kiyosaki at $100 ,000. You've got Novogratz at $500 ,000. Kathy Woods is at $1 million. I think she might have revised her to like $1 .3 million, but the end of 2023. And so that narrative, micro strategy, acquiring more, there's just little things on the back end. And then you could see something drastic happening. And you got to be ready for that. In the next month, there could be some sort of approval for one of the Bitcoin ETFs. If that doesn't happen in January, there's actually talk that maybe multiple Bitcoin spot ETFs in the United States could get approved all at once. You have things that maybe Gary Gensler gets recalled. Like these events could happen. What we think is that the bad events have already happened. We went through that last year. We went with that with Luna. We had FTX and we had Celsius. The bad actors have been weeded out. And so any kind of regulatory stuff that comes in, we think won't have that drastic of an impact. We saw XRP do well in its case. And we think that the setup for new news and better news is on the horizon. And then you look at the liquidity on it. It's something that can vacuum very quickly to the upside. And then all that takes is the news agencies to just flip and go from doom and gloom to price appreciation. And it will show in Google and it will start to result in prices. So, yeah, that's our thoughts. And those are two big catalysts. I'd say more so the Bitcoin ETF over the halving at this point. Yeah, very well said. And yeah, you're exactly right. I mean, Bitcoin is, it doesn't seem like it now because Bitcoin really has been kind of trading in the range that it's in at the moment, just somewhere between $26 ,000 and $30 ,000, shall we say, for well, for months, really. And so it does feel like, you can call it what you want, the sort of extended bear market, the accumulation zone of the next bull market. But it is very... There's also, there's two known sellers in the market almost at a regular basis. The US government's still selling Bitcoin. And you have FTX that's starting to unload some of their Bitcoin. And so you're getting matched up with, you know, that's why you see this almost sideways slide, you know, and it's disconnect and lack of correlation is because you got these two just unloading and acquiring and just trimming. And then any news could just set this off. But the other thing is that it's possible that our government stops selling at the end of this year and takes a break. They could continue, but if they take a break, well, there's one less seller in the market. And then who knows, maybe what needs to be done in this tranche for FTX also completes as they're projected to. And then now you're relieving sell pressure. You get a Bitcoin approval in Q1 and this thing turns into a vacuum to the upside. Do you, I mean, I wonder what it's like, Brian, to be in your position, like perhaps for, I'm sure you have clients who came in perhaps during the bull market of 2021. And, you know, it's hard for people who experience their first crypto bear market. And, you know, as much as the velocity is intense on the upside, it's also pretty disquieting on the downside. What do you say to people who have sort of started with you in the good times, but now you've got to manage not only their assets through the bear market, but I suppose, you know, their expectations and emotions as well. Yeah, great question, Andy. And it brings me back to the second half of last year and just the many conversations we had with a lot of our clients and, you know, talking about the space and reassuring about our business partners and how well they're here and how good standing they're in and us. And when we onboard clients from the beginning five years ago, even through the bull market in 2021, we go over downside slides with them and we talk about, you know, bad scenarios. You know, hey, you know, how do you feel if this is going to be down 80%, right? And we have those conversations early on when there's no money at play and there's no emotions. And we make that plan and you tend to find that most people can handle it. There could be a few that say, you know, I want to exit and close out. But, you know, now that you have that conversation and it's kind of like out of the way, you can reflect back to, hey, this is the plan we put in place and this is what we're going to do. And for some of those, you know, we can do, if they're a brokerage account, I mentioned earlier, we can do tax loss harvesting. So that's a way to, you know, take these losses and offset it, you know, against future tax payments. And there's an advantage to that. And now when they stay in the game, they allow us to tax loss harvest and prices come back, you get to see some of these get back into the green and they just had a nice, you know, discount to what they're going to be paying in future taxes. And so we try to find things like that. Other things that we do too is, you know, for IRAs, we do stuff unique. We're able to stake in those. In our model portfolios performance, we've actually outperformed Bitcoin by about 30 % by strategically allocating away and pulling back. So that helps as well too, adding units to the account. And we look at this space and can say like, hey, you know, in a year where asset prices came off drastically, we had some cash because we sold earlier. So we're waiting to deploy that. We can tax loss harvest what was down and around. And we're keeping up regular communications with you guys. You know, we're tapping the street to get, you know, insight and affirmation that everybody's in good standing. And that's what really comes to good customer services, just trying to be in front of everybody and open for human communication. Because that's something that most of the businesses in the space really self -directed. I mean, there's no one to talk to in DeFi, right? You can't call any of the businesses. And even in the typical exchanges, it can be hard to have a human to talk to. And that's where we pride ourselves in being available for our clients alongside running the model portfolio. Fantastic. And talk to us, Brian, in terms of I guess the success of DAIM, your business. I'd love to understand any sort of metrics that you watch in terms of the growth in your user base, your clients, your assets under management. I assume things are ticking along and growing over time. Yeah, so when we started the business in 2018, we started off with zero clients. That's the way the regulators wanted to do it. No assets under management. And then a few regulatory audits in 2019, because they liked that we put crypto advisor and manager on there. So that slowed some growth. But then coming into the back half of 2020, we definitely caught a groove. We were able to develop some narrative and marketing in the confines of still Facebook and stuff, not allowing to have crypto advertising, but through our word of mouth and in our network and hand -to -hand discussions. And so we grew the business to over 200 accounts. And really when we look back and we analyze the business today and we look at the AUM and how it fluctuated and the number of clients, I think a lot of companies will see a drastic drawdown in AUM and they will also see a drastic drawdown in number of accounts. Now their accounts might still have a dollar value, but I mean, meaningful accounts, anything over 10 grand. Whereas we'll see that we've trimmed flat through the back half of 2021 and now are slowly increasing. And I think the temperature changed. It felt like right around March that individuals were open to getting back in the space, kind of that really bad hangover from November was behind them. And so I think things are going to get even more favorable for us.
A highlight from A Dallas Letdown, Taylor Swifts KC Date, Clevelands Crazy D, Chicagos Agony, and Week 4 Lines With Cousin Sal
"Coming up in action -packed week three, Cousin Salas here, next. It's the Bill Simmons Podcast presented by FanDuel. Get in on the football action right from the opening kickoff with America's number one sports book. The app is safe, secure, easy to use. FanDuel always has exclusive offers. When you win, you'll get paid instantly. FanDuel has lots of ways to play, like the spread, money line, over -unders, team totals, player props, so much more. Jump into the action at any time during the game with live betting. Combine multiple bets from the same game in a same game parlay. Download the FanDuel sports book app today. Make every moment more this football season. The Ringer is committed to responsible gaming. Please visit theringer .com slash RG to learn more about the resources and helplines available and listen to the end of this episode for additional details. You must be 21 plus and present in select states. Gambling problem, call 1 -800 -GAMBLER or visit theringer .com slash RG. This episode is brought to you by our friends at State Farm. There's no playbook when it comes to life or any of the other stressful tasks that adulthood throws your way. So many of us lay awake at night going through a list of what ifs. What if something happens to our home? What if I get into an accident? If life gives you a bad bounce, State Farm has a play for every what if. You can reach them 24 seven. You can file a claim on the State Farm mobile app or you can simply call your agent with questions about your home or auto coverage like a good neighbor, State Farm is there. Call or go to statefarm .com for a quote today. We're also brought to you by The Ringer Podcast Network. I have a really, really good rewatchables coming on Monday night. Can't wait. It is my birthday tomorrow. So sometimes if my birthday coincides with rewatchables, which I think has only happened one other time, but we like to do a big movie. So that's where we're doing one of my favorite movies the last 40 years. Stay tuned. Coming up next, we had an action packed loaded week three. We're gonna talk Taylor Swift, Travis Kelsey. We're gonna talk about Miami putting up 70. Sal's team losing. We're gonna introduce a new character, parent corner. Sal sent his kid to college. Oh man, this is almost two hours. Let's get to it. First pro jam. Let's get to it. All right, taping this a little after 8 .30, Sunday night Pacific time. The hardest word come in and show business is here. Cousin Sal just watched Pittsburgh Vegas, a bizarre game, but we're not starting there. We're starting with your team. You're stupid cowboys. You compliment me and now that I see what you did here. Okay, all right. Your stupid team that I thought I could throw into a little 11 and a half Arizona, like throw a bit. All they had to do was run by two and a half. I had a FanDuel boost. I had real life money. I had a million dollar pick and it's like, of course they'll beat the Cardinals by two and a half. Rahim thought the Cardinals were tanking. No, no, that's not what happened. And now you're containing cowboys. They couldn't even make it to my birthday before they fell apart. They couldn't even make it to the end of September. Was that the goal? I guess had they known your birthday was a Monday. Yeah, they might've stuck around. I know, I know. I don't know what to tell you. It sucked. I had it tied to everything too. I had an Oregon this and the Chiefs this and the 49ers and the Cowboys and everything. And I didn't even care that they had three, essentially three offensive linemen out or that Trayvon Diggs got hurt. Not that I didn't care, but I didn't think it would affect this game. And then they just got, they went out there and got their asses kicked. 13 penalties and didn't force any turnovers and couldn't do shit in the red zone. And of course it's a double digit loss, jerks. I kept, I had in the back of my head Rahim's theory that the Cardinals were tanking and that they were only playing one, a good first half. And then they would throw away the second half because their real goal is Caleb Williams. So at halftime, I'm like, I'm not going to panic yet. Maybe the Rahim's theory, no. The Rahim's theory was not true. The Cardinals actually played really well. And your team, I will say, look, this happens sometimes. Usually it doesn't happen in week three. It happens later in the year. But the team that is getting smoke blowing up their butts, they have this easy game and say, oh yeah, we're going to Arizona. It's going to be half Dallas fans. This will be a layup for us. So we've seen this scenario, just not this early in the season. What worried me though, from a Dallas standpoint, forget about the offensive line and the blocking stuff. Cause you'll get those guys back. But you do seem to have like third and seven, third and eight if Lamb is covered, where do you go issued? Like, you know, not everyone has the Kelsey type, but you don't have the Devontae Adams. You don't have really any of those guys. You don't have that big physical tight end in the middle. You don't have the awesome, you know, James White type third down running back who's going to get open. And you could really feel it in the red zone. They were one for five in the red zone today. Yeah. I mean, you know, what's his name? The tight end who went to Houston, I already forgot his name from Dallas last year, was our second lead. Schultz was our second leading receiver last year. So yeah, there is something to be said about that. And I do want to put it in proper perspective. If the Eagles lose to Tampa Bay, which is a possibility tomorrow, the week is a wash in the NFC East, right? That means everyone will have lost. So I don't want to get too crazy, but it did expose, you're right, everything I always worry about. Can Dak come up with a big play down the stretch? You know, are these injuries too much to overcome? And Mike McCarthy in that play calling, it really seemed like we were up 12 points trying to bleed the clock, not down 12 points. And it's like, oh, maybe he's just afraid to throw it. And then when we saw, he threw into three defenders and you cleverly quipped, how did they know which of the three were to intercept it? Yeah, that was kind of wrenching. That was an angry text to yours. I was just angrily texting. Like it was your fault that I was losing all my teases. Yeah, he just threw into three guys on one of the biggest plays of the game. Complete panic throw.
"two halves" Discussed on Poke the Bear
"And welcome to poke the bear episode 76. The Alexander coca chave episode. Oh, this is a big one. This is one that I never going to forget. Let me tell you Evan. One of these days is going to break out. He's going to go 30 goals in the NHL. It's going to happen. No, it's going to happen. That's our big, we were going to do new year's resolutions at the end of this episode. Maybe we'll start off with the news resolution, Alexander Coke, which have 40 goals next season, though. Next season. Not this season, but next. But I live marano off. That is kind of Ryan. Connor, what is up? Evan, doing well. How you doing? I'm doing great. Better faces getting better. No one doesn't hurt as much of those listen to bruins beat as well. Little ski accident. You should have seen the other guy. More like other mountain. There's a dent in the mountains and shambles. Pounds and shambles. It's unusable. Big divot, everyone's skiing through it and getting their ski caught in it, but at any rate, there is real bruins things to talk about, which is very fun. New year's, this is actually coming out on New Year's Eve. So New Year's Eve will be when you will be listening. Most people will probably be listening in 2022 as well a new year. So we're gonna have a resolutions at the end of this episode to break out performers in the second half. But first, there is some real news and we'll start we'll get the COVID stuff out of the way. NHL changes protocols now it goes from a ten day quarantine down to 5 and that is for players and hockey off staffs that can be coaches, trainers whomever sucks for you who is in for ten days. Ten days. But changes to 5. What changes do you see coming from this? Makes it easier. Yeah, yeah, I think for the bruins, it's not just for the bronze, I think for the rest of the NHL, it's probably I think for the players a relief in terms of the fact you can get out there a lot. A lot sooner. I mean, let's say the brewers didn't have this kind of COVID impacted pause or they had and they had a trudge ahead with. I mean, if we had to watch more games like the one we saw against the islanders or they didn't have Martian bergeron a couple of those guys. I mean, God damn, it would have been brutal..
"two halves" Discussed on Lakers Nation Podcast
"Defense picked up their intensity in the second half, and that helped to force turnovers and it helped to jump start their offense as well. We know they can be better defensively, what's their ceiling on that end of the floor? Certainly not what last year's team was or the season before, either, but I think they can be better there. The question is consistency. Can they do it on a consistent basis? So far that answer has been no. But again, I don't want to be too negative because tonight we got this is literally been the first kind of kickback and relaxed fourth quarter, at least the bulk of the fourth quarter that we've seen from the Lakers all season. All season. This is the first one, and we're what? 22 games in now? 23 games? 23 games in now. And this is the first one that the Lakers have really been able to cruise to a big dominant victory. So let's not lose sight of that, but yes, the defense is still. It's still a concern. And hopefully it's something that they can fix. I think part of it is intensity. It's just an effort, essentially, and part of it is also how the personnel was put together in terms of they don't have a lot of stand out individual defenders, and that's bled into their defensive schemes. But again, that's a longer topic for another day. Jerry O back said THT for Desmond Bain. I like Jerry. I like Desmond bane a lot for the Memphis grizzly. I don't think they're looking to move him anytime soon. He was my target, had the Lakers kept their pick rather than trade in the den of Schroeder deal. He was the guy I wanted to see wind up with the Lakers. You guys have known on the scene on the channel. I've interviewed him a few times. Great, great kid. Works extremely hard. I thought he would have been a great fit with the Lakers, but I don't think the grizzlies are looking to move on from him at this point. He's been great for them. All right, let's get into the 360 awards. So of the stars. Obviously, LeBron James was out and we still need to talk about that. But of the Lakers stars, who is the best? Who is the best tonight? Was that Anthony Davis? Or was it Russell Westbrook? Chat, let me know what you guys are thinking, coming in from Twitter from YouTube from Facebook, fire it off. Who was the best who deserves the 360 award tonight? Was it AD? Or was it Russ? Looking down right now, I've.
"two halves" Discussed on Lakers Nation Podcast
"Able to catch one live here. How do you think the game would have changed if LeBron played tonight? So I would think the Lakers would look more organized. We tend to when we think of LeBron, we think of offense. I think defensively, they would have looked more organized in particular. They're pick and roll defense in that first half would not have been as bad. Why? Because LeBron is much better than anybody else on the Lakers at calling things out of the defensive end of the floor. Malik monk was talking about this recently about how LeBron, when he's playing center on that back line, he calls things out because he knows what the other team is going to run before they start running it. He knows what's coming. And he reads the game better than Anthony Davis does better than Dwight Howard does better than Deandre Jordan does. So when LeBron's the center, and he's the one responsible for doing that, it makes a difference. Defensively. So I can say that in those pick and roll situations that the Lakers were getting destroyed on, they looked really, really bad. They probably still get burned on a few of them, but LeBron also probably makes some of those corrections. So I think that would have been the difference in this game. Obviously, there'll be a lot of other ones offense been to the floor too. Russell Westbrook is handling the ball quite as much. But ultimately, I mean, I still think the Lakers would have won the game if LeBron was in there. Do they go on this crazy hot streak? Who's to say? But I think that would have been the big differentiator. Would have been the defensive end of the floor. The organization there. We've got a super chat coming in. From Dante's Simon said trade THT. That's it. Two words, trade THT. All right, you know what? I was talking with, and I've got Craig, Stephenson said, why is THE? Or is Craig Steven, sorry, said Trevor, why was THT so bad? Another person says trade THT, another person calls THT a bus. You know what I was talking about this with the Lakers nation staff during the game. I said, has there ever been a player quite like THT, where last year, during preseason, he was phenomenal. He looks so good. And then he fell off the cliff. And now this year, he gets hurt, he comes back, and what do you have? Like, it was like 17 points out of the gate, then like 27, then 25 and then poof. He's going again. It's like he starts fast, first few games, and that's it. Then he just kind of disappears. We see the potential. He's potentially a very talented player, but this is beyond inconsistency. This is he shows you how good he can be, and then he's gone. It goes beyond one of the Lakers nation staffers, Daniel stark and said, well, you know, young players are inefficient. I said, or inconsistent..
"two halves" Discussed on Lakers Nation Podcast
"Monk AD Dwight. As your starters, that's what Joel Hernandez is suggesting that the Lakers go to. Now that LeBron James is out, Russ, Wayne Ellington, Malik monk, Anthony Davis, Dwight, Howard. Not bad. I mean, he gives you the floor spacing. We certainly saw. I think this was one of the keys to the second half. Was that particular lineup? Why it worked? Dwight doesn't give you floor spacing, but monk and Ellington are dangerous enough as shooters behind the ark that Russell Westbrook gets driving lanes. And that made such a big difference for his game. He had opportunities to get to the rib, and then when he was a threat to score at the rim, guess what he started doing, kicking out to shooters. He had the one where he did kind of a 360 in the air and kicked the ball out to. I believe it was Wayne Ellington who knocked down the three makes a big difference. When you put shooters around Russell, Westbrook, who to thank it. Arsenal law from YouTube said, did you hear? Yes, I was just reading this. I believe it was Dan wakey, was just tweeting about this. So he said, did you hear someone bet the kings would win, but $265,000 that the kings would win and it was the king's plus 5 at the time because we didn't know that LeBron was out at that point. And the kings would end the point total will be under 227 for $235,000. That person still came out ahead because they hit on the under bet apparently. So that worked out for them. But lily's according to Dan wiki. But yeah, look, if you've got that much money to throw around on a basketball game, you're really gonna bet it on a Lakers kings game. On a Tuesday night, I guess if it makes the game more interesting, you can go ahead and do it. But they lucked out and were able to still come out ahead even though the Lakers wound up winning and they bet on the.
"two halves" Discussed on Lakers Nation Podcast
"Win, where we weren't stressing for the entire fourth quarter of the Lakers defeat the Sacramento Kings by 25. A tale of two halves, the Lakers looked terrible in the first half, awful, awful awful stuff in the first half looked like they didn't really know what they were doing. We'll talk a little bit about that. But then, oh my, the second half, they turned it on in a big way. Wind up winning one 17 to 92 without LeBron James. So a lot to talk about tonight. We'll talk about LeBron. What's going on with him? Well, some talk about this win. What was different in the second half compared to the first half aside from just the Lakers made shots, there was a big difference in terms of energy and some of the things that were executing on the floor that we'll get into. So if you're coming in from YouTube from Facebook from Twitter, welcome in, make sure you are subscribing to the Lakers nation dot com YouTube channel. If you're listening to the podcast version of this after the fact, maybe tomorrow, make sure that you are followed. It's on Apple podcast Spotify wherever. We appreciate it so much. All the support that we've had for these shows that we do here, whether it's the normal videos I put out on YouTube, breaking down the news and the X's and O's and things of that nature, or it sees live postgame shows. We are so appreciative for all the support that Lakers nation has given us. So thank you to all of you out there. All right, let's get into this one. If you're coming in from any of the live sources right now, from YouTube from Twitter from Facebook, welcome and we'll be taking your questions and comments as we go out, go throughout this game. Let's get into the stats first though. Anthony Davis on the night 25.7 boards two steals two blocks 12 for 22 shooting. Remember no LeBron James in this one? Out due to COVID protocols or health and safety protocols, I guess I should say. We'll talk a bit about that in a little while, but Russell Westbrook four turnovers almost all of them in fact happened in the first half, second half Russell Westbrook, tremendous. 9 for 21 shooting, one of 5 from deep, it's not great for 7 from the free throw line..
"two halves" Discussed on Get Your G.O.A.T.
"Can they do it? We'll see. Very nice three games are tough. This is a big one in the test. I think they'll move up. If they win that game, that's another big one to watch out for Purdue Ohio State perdue coming in from unranked now to rank after beating teams like Iowa, Michigan state, can they play spoiler again against Ohio State to Ohio State beat down on perdue because of the last two weeks they've been struggling. Texas a and M and old mess, can Texas a and M stay within fighting range of Alabama to play Georgia in the SEC championship game North Carolina state, wake forest, wake forest just suffering their first loss. This is for first place in the ACC big game there. So again, a lot of big matchups, lot of games to be played I am fine with the college football playoff rankings so far. And of course I'm fine with it. Michigan's at 6 ahead of Michigan state as something all wear and say proudly all day long, but Michigan's going to have to live up to that ranking and it's all going to be played out on a football field everything will be resolved. And then one more thing, just to do my own home once again. I was right on my first college basketball picks of the season. Kansas beat Michigan state last night was in control most of that game. Duke got the win for coach K over Kentucky, a great performance by them. It's going to be a finite exciting college basketball season. A lot of big week ten games NFL college football as well. Won't talk to you until next week bye everybody..
"two halves" Discussed on Get Your G.O.A.T.
"Now I'm going to react to last night's college football playoff rankings. I gave you my top 6 on Monday. I gave you Georgia, Alabama, Oregon, Ohio State Cincinnati, Michigan state. Most first 5, I was right on. Georgia was number one. Clear cut favorite there offensively defensively to me. There's a lot of separation right now at least between them and the rest of the pack. Then you have the rest of the team's not play so well, Alabama, Ohio State Cincinnati, Oregon, so you just keep every team slide them up behind Alabama. Sure, that's what you do. You move Oregon to three Ohio State of four. 5 Cincinnati, I signed with that because you have a Michigan state loss and they've also haven't looked great a lot this season just like Cincinnati, but Cincinnati is undefeated. Here's a kicker. Michigan, Michigan state. Michigan and Michigan see both 8 and one Michigan state just lost however. Video on the head to head over Michigan, but Michigan is slotted ahead of him. 6. To me, that is the biggest inconsistency. I love Michigan. I'm not going to complain about this. I'm not, I revel in this at Michigan state beat me, but I'm number 6. I will toot my own horn all day long. However, I do see it as an inconsistency. Because the other head to heads have mattered, for example, or it can be Ohio State. They are favored above them. With kind of some beat perdue Iowa, they are ahead of them, perdue, be dialog very ahead of them. I'll bite Wisconsin and Purdue having one more loss than Iowa. Those head to heads count. I would be fine with it, you know, even because Wisconsin's looked like the better team than Purdue and I was of late they've been dominant on both offense and defensive founder running game to me..
"two halves" Discussed on Get Your G.O.A.T.
"Now moving to the NHL, I'm going to give you my top 5 teams in the NHL right now. Number 5, the Calgary flames, why? Pacific is looking at least a little more tough than I thought this year. Calgary is right there. Number two amid division. With 17 points, they've been fantastic, Elias lindholm has been their star. Not so far. And as I said, the Pacific, much tougher, I thought Seattle would be fringed because of their lineup, but their bad, I thought Pacific would be bad, however, you've got Edmonton good Calgary rebounding from a very poor year last year. Same with Anaheim. San Jose LA. So you really do have a tough start to the Pacific, but Calgary finding its way in is beat a lot of those teams highlight Calgary at 5. Four. St. Louis blues, St. Louis is sitting number one atop the central division. In which I never thought they'd be sitting atop at number one in it. I thought Minnesota would be ahead of them, Colorado, and honestly, Chicago as well. St. Louis has surprised me, miss team has surprised me. May have a ton of chemistry, mirror scoring, a lot of goals as well this year a great goal differential. I think St. Louis is a really, really good team. They are factors now in there because of your scoring potential, also Jordan Bennington in net. Number three Edmonton Oilers, the number one team in the Pacific division. Of a team that has scored the second most goals of this year and also has a very high goal differential at plus 15. The goalie tandem is working so far between Mike Smith and koskinen and then again, the MVP pick who will probably be favored to an MVP every year. Connor McDavid is having another great regular season campaign, so is Lee on dry sidle. Nugent Hopkins, this team is built for a regular season and it's still showing early in the year..
"two halves" Discussed on Get Your G.O.A.T.
"Need a fully healthy arsenal of Kyler Murray Andre Hopkins after disposal. Can't have him injured. Dallas winds up getting the four seed, again, I think they'll be 13 and four or just 12 and 5. They still need to lose two more games that I'm not expecting them to lose. And I think they'll just flat out win one lose one as an underdog. That means a rams get the 5th seed. And again, this is another team I think will go 13 or four, 12 and 5, but the cardinals will have the tiebreak. The Vikings I think will get the 6 Seahawks at 7, which sets up some great matchups, Green Bay Seattle Minnesota, and then Dallas rams. So NOC to me is going to be much more fun to watch much more loaded. That's going to be enjoyable. Those are my teams. I'll have Tampa Bay and Green Bay in a rematch of the NFC championship game. This time it's in Tampa Bay, Tampa Bay still gets a Wednesday play Tennessee, but Tampa Bay wins the Super Bowl. My preseason pick was Tampa Bay winning the Super Bowl. I believe they will still repeat his champions. Tom Brady gets number 8 this year. Now moving on to the NBA. Last night, I picked two games. I was right on both of them. I picked the bucks to beat the 76ers and that came into fruition. However, I have to give the Philadelphia 76ers a ton of credit. They far harder without Joel embiid. Tobias Harris they played a great game. Tyrese maxi stepped up 31 points, Andre Drummond. 20 rebounds, however, that was too much for Giannis 31 points and his double double 31 and 16 rebounds. At the end, they pulled away it was close. 76ers were leading going in the fourth quarter. Even though it was a small lead, but the bucks won this game, they came back. I was a big road win for them. And I picked the clippers over betrayal blazers. Clippers won one 17 one O 9 to me clippers just always felt like they had or were in control of this game..
"two halves" Discussed on Get Your G.O.A.T.
"Buffalo. I actually don't know if buffalo will win the division now. They still play the Patriots twice who are right on their heels. They play a colt, the bucks. I'm gonna go out saying that the Patriots win the division. A much more easier schedule down the stretch. I believe the Patriots just pulled off but the bills also make it. The chiefs, I believe the chiefs will finish as the 7th and last seat and the playoffs. I believe they win one luge one down the stretch. I believe they could win the rest of the games, talon wise, however, I've seen that just by the way they are playing their defenses playing. That is not possible. I believe they could lose to the Raiders handedly, but somehow beat the cowboys and then lose to the Chargers or Bengals again, but then beat the Steelers. So I believe you're going to have a crazy finish. The two this season, a lot of good teams out there. But some of these teams are going to miss the playoffs, but browns are a team. I highly touted. I really do not think they will make the playoffs this year. Cincinnati. Two weeks ago, sitting at number one NBA FC. I believe they missed the playoffs now. The air for margin is so small, it's so tight. It's slimming down right now. That you need to start winning your games, especially against the better teams and I have not seen that. So if a team's, I think, again, we'll make the playoffs, Tennessee, Baltimore, chargers, bills, raiders, patriots, and chiefs. That's who I think will make of a playoffs. In the AFC. I believe Tennessee in Baltimore are the two favorites in that conference matchup. I believe they meet up at the end with this ASC not looking strong. I believe Tennessee will get dairy Henry back. They have home field advantage dairy Henry has some semblance Tennessee gets revenge on last year's playoff game. They make it to the Super Bowl. Now for the NFC side, to me, you have 5 teams that are locked in the NFC. I have the Arizona Cardinals, the Green Bay Packers, but Tampa Bay Buccaneers, medalist cowboys and the Los Angeles Rams, then you kind of have two playoff spots. And to me, a lot of these teams are on the downward trend. New Orleans, no.
"two halves" Discussed on Get Your G.O.A.T.
"Who do I think wins that one? I really do think this will be a very close game. However, I think the Los Angeles chargers can't pull this one out. This year, it's been a coin toss on losing a close games and winning close games. You know, we've won the close game last week against the eagles, the football team, the chiefs. However, they have lost close games as well to the cowboys to the Patriots. So to me, they're kind of faring better at 5 and three whereas of Vikings have lost more close games than they've gone into overtime. Three times, they obliged two of those games. It seems to me every game they play is decided by one possession or less. They've had some unfortunate luck, but when they need a big drive by Kirk Cousins, he turns into what I've been calling him. Khan, artist Kirk. I mean, that is exactly what I think you know he is. I don't think he is a real deal. And I have a lot more faith in Justin Herbert. I really do, because of that because of Austin Eckler, this offense, I believe Minnesota can hang. But if they need a big drive from Kurt cousins, he has proven far more often than not that he is con artist Kirk and he will choke when they need him not to. I think LA wins a very, very, very close game. Philadelphia and Denver, Denver to me pulled off a huge unexpected win against the cowboys, where they were up 30 two zero. 30. Two zero. And they won 30 to 16. That was huge. They kept playoff hopes alive right there. Very, very slim that they get in because the tail end of this AFC is loaded with teams that are sitting in for 5 and four Mark. That was a big win for them. Philadelphia was also trying to stay alive, but they lost a crucial one to the Los Angeles chargers. This is another coin toss game. What quarterback will play better? Jalen hurts, a teddy Bridgewater, what defense will show up? What eagles Broncos teams will show up? I mean, very, very close, I believe right there. Seattle in Green Bay. What a match up this should be. Russell Wilson cleared to a return returning Aaron Rodgers can be cleared Saturday. I expect him to play. It doesn't look like Odell Beckham will be signing with the Seahawks on the flip side. He could be signing with the packers, but with Odell, not even in this game, not even factoring him. I think Green Day wins this game, if Aaron Rodgers is back, Russell Wilson has had a tough time with the Seahawks traveling to Lambeau. It has been very tough for Seattle to win there..
"two halves" Discussed on Get Your G.O.A.T.
"Performance of VCs. That's how bad it was. It was terrible. It was flat out anything unlike anything I've ever seen. This buffalo team do in the past two years, 6 points to Jacksonville, just 6, that's an embarrassment. Josh Allen's got to step up. You run game has to do better, Josh Allen can not be your leading rusher. Like I've said with the New York Giants in Daniel Jones, can not be your leading rusher. Josh Allen, you can not have a quarterback being your only Russia and expect to win big games. I'll give Lamar Jackson the edge there and what other teams can do, but I also say Lamar Jackson won't win a Super Bowl with that formula in the Raven formula. I also expect the bills to bounce back this week. They have owned this rivalry against the jets as of late. I believe that domination continues as of Sunday. Detroit Pittsburgh Detroit much needed biweek where it seems like they've exhausted a lot of efforts in winning games, but also finding ways to lose games. They play Pittsburgh, and as I know, as I've said on my last podcast, yesterday, I've got no respect for Pittsburgh. Mike Tomlin in just the officiating. I wanna pick Detroit to win this game bad. However, this games and Pittsburgh, so from what I've seen from the officiating cruise on Monday night and how they call games in Pittsburgh, I'll probably roll with Pittsburgh, because a reps are gonna give the Detroit lines, no fighting chance to win this game, even if there's questionable calls a will all go against the Lions all in favor of the Pittsburgh Steelers, the Steelers win this game. Right now, but after that, the schedule gets tougher. So I hope they enjoy their last easy win of the season. Because from here on out, it gets a lot tougher before the Pittsburgh Steelers. Tampa Bay in Washington. This is a rematch of last year's wildcard game where Taylor heineke went wild look like the ultimate dual threat quarterback. And the Buccaneer defense couldn't stop him to me that was your worst game of the season, especially of a playoffs. I mean, Taylor heineke could not be stocked, but Tom Brady just had a better game. I believe this defense will be ready for Taylor heineke again. It's in Washington like the playoff match was last year. I think Tom Brady, or Tampa Bay's two talented, Tom Brady is my MVP, he's playing too good, Chris Godwin is great, Mike Evans. Who knows if they'll have Rob Gronkowski back or not, we'll see if he's healthy. If AD is back from his angle, if all those guys are in, I think you can count Washington out. If not, it might give this offense or a Washington defense a little bit of a break. But at the end of the day, Tom Brady, Tampa Bay are improving to 7 and two, they are getting a huge win. I expect a huge game from Tom Brady in this game..
"two halves" Discussed on Get Your G.O.A.T.
"Winston, who has been a decent quarterback in the NFL throne for 30 plus touchdowns, 5000 yards. He's a competent quarterback. So when you lose your starting quarterback and you have a Trevor standing in or Taysom Hill, and you don't have great weapons around you. I know you have Khmer, but you have no wide receiver one Michael Thomas out for a year. You don't have any true wide receivers, no game changers, playmakers. That makes it very, very tough, whereas with the Tennessee Titans, although you lost dairy Henry, your MVP and best player, you still have playmakers. You still have to me and above average quarterback in Ryan Tannehill. He's not great, but he's somewhere in that above average Echelon. And we got playmakers on the outside. They got AJ Brown. They got Julio Jones. So that's why I still have more faith in them, even movie lost a dare Henry, I believe Tennessee gets a win this weekend. Jacksonville and Indianapolis. This one shouldn't be close. It just should, and what I've seen from Indianapolis lately the colds have been stringed together great winds winning by decent margins at least scoring 30 plus and before stray games, Carson Wentz also having a under the radar really good season. He's made some dumb decisions, and some of them have cost him a game. He threw two interceptions against the Titans in that one game. That's two out of his three interceptions. He's only throwing three interceptions to 17 touchdowns. That's the same rate as air and Rogers. He's throwing for more yards in Aaron Rodgers. Over 2000. He's having a great season right now they have the second best running back. Jonathan Taylor, he's the workhorse back as well. Michael Pittman tremendous wide receiver. So things are really clicking for the cult. The keys to be good teams, they're playing a bad team right now in Jacksonville. I think they can beat them. Again, to me, Jacksonville is giving me that New York jet syndrome, where, you know, the judge beat the Bengals, but then of course they flamed out, and who did they play? The colts, Jacksonville, beat a good team in the Buffalo Bills a division leader held Josh Allen to find Diggs, the high flying offense to just 6 points. He didn't even get a touchdown, not one. However, I don't think they do this to Indianapolis. Now after beer big winter facing Indianapolis like the jets that after very big win against the Bengals, I believe Indianapolis is that momentum killer, Jonathan Taylor has a big game, Carson wins does they beat Jacksonville handily in this game? Now you've got a very intriguing game to me major playoff implications just due to the tiebreak alone. That is the browns and the Patriots. You have a patriot setting right now at 5 and four. You have Cleveland at 9, in 5 and four, and New England wins with tie break due to the best one percentage in conference games. So if New England were to beat Cleveland, New England essentially has a two game lead on them, they're sitting at 6 and four, Cleveland sitting at 5 and 5, but New England also on top of that one game we has V head to head tiebreak..
"two halves" Discussed on Get Your G.O.A.T.
"Happy Wednesday, everybody. Welcome back to get your go, Josh here and a lot to get into today. Ravens dolphins, Thursday, night tomorrow. Maybe that isn't a lot to get to get into. But other than that, there is a lot week ten matchups, key predictions, also my predictions from a rest of the season, records for teams, how do I think that the second half of the season will shake up, then last night, a few NBA in college games I was right on both those. I'm also gonna give you my top 5 teams and the NHL and on top of it, react to the college football playoff rankings, what I think the committee got right what I think they got wrong and how it sets it all up for a wild finish the next three weeks. Of a college football season. But first, let's start with the ravens of a dolphins. I'm surprised that I'm surprised the ravens are only 7 and a half point favorites. I think they should be double that. I think they should be 15 and a half point the average. I give the Miami Dolphins no shot to win this game. I don't know if two is playing it doesn't matter if two is playing or if Jacoby Brissette, the dolphins just gotta win over the Texans. They're sitting at two and 7. While Baltimore is 6 and two, they have an MVP candidate and Lamar Jackson Miami has been porous on defense all year long haven't been able to stop anything that's going to continue tomorrow. I think Lamar Jackson will shred the Miami dolphin defense. Won't be close at all. He's going to have his way. And then the Baltimore defense, who's just an average this year of your past defense actually a little bit below average to what it's been in recent years, I think they'll have a big game. I think they'll wipe the floor with the Miami Dolphins..
"two halves" Discussed on Lakers Nation Podcast
"Let's see somebody asking who could we have gotten instead of West Matthews for the price? I'm sure there would have been somebody but I can't think of anybody off top of the head. I mean, you got them for three million and change that bi-annual exception. It's not a lot and you've got a veteran who is one of the best defensive players in the NBA last season. You've got a guy who can shoot from outside has you worked out this way, you know, but I think that's a signing that you make ten times out of ten. I mean to get him for that price knowing that production-wise. He was very similar to Danny to Danny Green last season and you're getting him for a fact the price. I think you take that gamble. It hasn't worked so far, but I don't think there was anything wrong with the thought process behind signing them. Yeah, I mean, yeah, I'm sure there are a ton of NBA players who would have taken that 3.6 million from the Lakers. I can't think of anyone better than Wesley Matthews who would have taken that money. So look Wesley Matthews. Yeah, he hasn't he hasn't been great in for the past few games. He just hasn't been in the rotation, but there will be moments where the Lakers will lean on him to hit shots and he will he will deliver. He is that type of player that can deliver when when it matters. So I've got somebody in the the chat here on YouTube that currently has the YouTube name of Kyrie Irving. What? Okay. Yeah, never know so Trevor do you think the Lakers can guard big wings like Hawaii or PG-13 he would have said it would have been for sure. Yeah, if he said hey, how are they going to deal with the rent and James Harden? Okay, but yeah, I mean look that's that was a problem last season right when we met we talked about the Lakers roster last season. We said they don't have enough three in D Wing Defenders to deal with why Paul George Jimmy Butler Giannis antetokounmpo on and off right and I don't think they've necessarily fixed that problem. Alfonzo mckinnie isn't really getting minutes. Kyle kuzma has been converted into a wing Defender, but you don't have that true lock-down three indy-style player. So there's still some concern there. I mean like the Lakers didn't have to play the Clippers in the playoffs just last year. So when your wind up having to put an Alex Carruthers Or a k c p both guys at 6465 on to a guy who's six eight or six nine playing the wing that can cause some problems. So is it something to be concerned about? Yes, but also remember last season it was something to be concerned about and in the end it didn't matter. They want to Championship anyway. Yeah, and another thing is, you know, during the regular season. Obviously, we saw it in the first game of the season. Kcp and Alex Caruso those guys played a lot of minutes Wesley Matthews. They all played a lot of games on Kauai and Paul George, but when the playoffs come around LeBrons taking at least one of those guys, right and so all you need to do is figure out the other one and I would be comfortable with a combination of kuzma Talen Horton Tucker Wesley Matthews and Alex Caruso on either Paul George or Kawhi whichever one LeBron doesn't want a car. Yeah, I think and hopefully with a rotating cash there you can throw enough different looks at the guy LeBron is not guarding that you can keep them off balance and and find success. There will be easy, but you can try. I've got to come in here from man-made time. All right, let's just let's address it..
"two halves" Discussed on Lakers Nation Podcast
"Triple-double Darnell. I don't know if I could say tht tht was good. I don't know if he was the MVP but no one-on-one basketball just a team win. Yeah. I mean how many times especially that one play? The ball movement was kind of funny because you were like thirty seconds ahead of Chris and Denise and myself and so you were telling us watch this page or the ball movement and the Lakers just had the ball pinging around perfectly Caruso touch pass out to I think it was a kuzma three the ball movement look good and then the energy that you saw from kuzma coming down. And he mentions Dennis Dennis router as well Dennis Schroder sell it out the the headfirst dive to get the ball and poke it free and force the the shot clock violation on Jamal Murray incredible stuff. What did you think? I guess let's start with Dennis Schroder. What do you think of him tonight? Because he put up 21 points. I believe it was he had 21 points four assists seven of nine shooting two of two from Deep from shooter dead. Yeah. I mean this this was one of Dennis Shooters best performances, and I'm I've been a huge fan of his and I was very glad the Lakers were finally able to get him. I know they've been trying to trade for him for I think a year-and-half now if the reports are correct, I'm really glad they're able to get him cuz he showed tonight exactly why he is so valued around the league he is. He's the exact guy. The Lakers need Shaq is the guy the type of guy they were missing in the regular season last year Rhonda took that role in the postseason. But in the regular season, it was the guy they were missing and he showed it tonight specifically that he especially if he's dead. If it's three point shot is falling she is an extremely valuable person to the team and he he could win you games. Yeah, absolutely. Absolutely. And I think it's it's both ends the floor. That's the key. So we think of Dennis Schroder we tend to think of all of this this flamethrower on offense for OKC last season, he would come in and the OKC offense would go to another level..
"two halves" Discussed on Lakers Nation Podcast
"Yeah. You've got that that depth right and so far not going to Mark not going to us Matthews that's worked out for the Lakers. I don't think they're forever out of the rotation will see them at some point, but I do like that it feels it feels like something's changed here. Like Frank Vogel is finally just said, you know what we've been bringing THD along slowly but it's time it's time to he's just that much better than Wes Matthews, right? I mean, I think we're we're past the point where yes, He's going to mess up every now and then he's going to make some young player mistakes that's going to happen. But it feels like the Lakers have recognized that the positives he brings to the floor are outweigh the negatives which sometimes can be admittedly kind of ugly. Yeah. I mean another thing with that is Frank Vogel and the coaching staff probably realized that if we throw him out there now and we met a prime part of the rotation. He'll make those mistakes now instead of in the playoffs. So I mean if he's going to make those rookie mistakes, I'd rather see it in game twenty three versus, you know, the three of the Western Conference semis. Yeah. It's it's a lot better to have it now. Yeah. Absolutely. You're learning on the job essentially with is what's she's doing just in Hartford from YouTube says nobody is shut down. Jokic Mark showed that he can defend him and he also helped get him in foul trouble. We have Mark for specific playoff matchups. So let's talk about that. I don't have the stats in front of me as as far as how jokic fared directly against Marcus all but jokes played 35 minutes 6 for 16 shooting and this is a dude who just won National Conference player-of-the-month 10 boards, six assists three turnovers for fouls 13 points for jokic. Way below is averages in all categories Marcus all 20 minutes over 4:04 to from 3 to 2. It's a line one block to boards. two points I don't think you can really judge Casal just off the stat line though. How do you think you did cuz the key for him was how did he defend? Jokic, what did you think of him defensively? I think that you know, he obviously he made some mistakes..