 Well, this is your last set news. My name is Rob. And today, just as the thumbnail title suggests, we're going to take a look at to pay attention to the winners that are out there, the people that stick around. Because right now in the bear market, you can tell who's moving forward and who's just falling apart. So we're going to go over a couple of things. First, we're going to talk about a winner show up. We're going to take a look at the market and some indicators that we talked about yesterday. Then we'll take a look at how the tide has rolled out on another lending platform as they bite the dust. Then we'll take a look at the winners, take a look at those winners, Polygon, Ethereum, Itrust, Masterworks and Novocrats. And lastly, we'll take a look at some losers, which is Ethereum proof of work. So we'll go over all that and we'll make this pretty quick. Now, as you may notice today, I'm doing not a live stream. It's because I've been feeling kind of under the weather and I just want to make sure that I have enough energy to get through it. I'm doing better. I just, I don't want to go through a live stream and then answer questions and have to cut it short because I'm exhausted. So feeling pretty good. Just want to make sure that we're doing okay. So let's jump into it, huh? So the first things first, let's take a look at the quote, which I think is more relevant today, which is from a friend of the show, Warren Buffett. And he says it perfectly. He says, only when the tide goes out, you'd discover who's been swimming naked. And I think we're seeing that right now with when we just had this massive bull market not too long ago, roughly about a year. And things just started to collapse. And then once things collapse, you can tell who really is falling short. And that is the whole theme of this show today. So pay attention to the people, the warriors, the gladiators, the ones that show up and keep pushing forward and keep improving. And they actually lay the track for the next bull run, which I think is going to be around 2025. So that's the theme. Let's take a look at what's going on in the market today. Market's good. I mean, honestly, I don't know if traditional markets up, I frankly don't care. I'm assuming it is because we're so correlated, but it could be wrong. Bitcoin's up 3%. Ethereum's up. Everything's up. Ethereum has been kicking the car out of Bitcoin. Our theory has been beating them pretty well as they're going up massively, 5.3% in seven days. And good for them. Merge is coming up and it looks like they're going to be on time. So I was wrong. And I'm glad I'm wrong. And they're actually going to go through with it. Now, this is the second of the third part. The third part will be sharding. And that will bring us to E2.0, whatever they call it these days. So I'm looking forward to that and look at if Ethereum is doing pretty well. 3.8% for Solana. Everything's up. I mean, that's just all it is, except for Ethereum Classic last hour, but we'll talk about that. So that's the market itself. And then yesterday we did a video where we took a look at seven different indicators. Three were top callers and four were the bottom callers. And they're all free. They're all, well, six of the seven are free. And you can find them all on lookintobitcoin.com. And what somebody recommended to me, they said, well, this is nice, Rob. This is a nice video where we can see where the top could potentially be in 2025. But why don't you do a reminder every show? And I'm like, it's not a bad idea. So this is one of the indicators we were talking about, the well multiple. And just so you know, the well multiple itself, this is how it's calculated. It just takes off the, it's divided into daily issuance value of Bitcoins by the 365 day moving average of daily issuance value. A bunch of jargon. Here's what you gotta know. When it hits in these green areas, that's a good time to potentially accumulate. I can't tell you what you do. I'm not your dad. I'm not a financial advisor, but it's a pretty good idea. This might be a time to accumulate as we see a dip down. It's been dipping since June 17th, 16th, somewhere around there. And now, of course, unfortunately, or fortunately, we're going to look at it. We are above that mark. So this was a great idea to accumulate. Could Bitcoin go down? Yeah, it could. And we'll take a look at potentially what it is. So that's the bottom indicator. And this is when we took a look at the PyCycle top indicator. And of course, this one, you're dividing the 111 day moving average by the 350 moving average times two. And just so you know, this was created in April 2019. So all this data before here is just retroactive. But it did call somewhat of a top. We took a look at it in the video yesterday, which you can find in the link in the description. But just so you know, once the 300 day moving average times two across underneath the 111 day moving average, that will be considered the top. And I mean, we didn't hit it perfectly, but it doesn't matter. It's just getting close. I mean, I don't think anybody's going to begrudge anybody from selling at $60,000 as opposed to $67,000 over here or wherever it was. But you can see right now that those two lines are vastly apart. And there's no chance they're coming together anytime soon. So those are one of the bottom and one of the top indicators. Again, you can find that video link in the description. And also, somebody made a good point. They said, you know, if you believe in the four year cycles, which I do, you have to understand that we could go down even more. And I was like, I wonder how true that is. And if you take a look actually, in the last cycle 2012 to 2015, you can see that the top was around $1,000 and the bottom was around two actually down here, excuse me, around 210 199. That's about an 85% reduction give or take. I'm sure somebody in the comments will tell me no, no, it's 86.2%, whatever. And then the last one or 2016 to 2020, we topped out around 19,000 in the bottom, well, almost 20,000, the bottom was around 3,200. That's about 85% again. And the last one we did, we had 67,000 in the last bottom bottom that we saw was around, it doesn't really say here, but I know it's like around 17,000, which is about 75%. So could we go down even farther? Sure, if we take a look at the fractals, but you know, who knows, nobody knows, it's just what it is. But if you take a look at some other indicators, that's what they show. And last thing I'll say is this, I don't really care about hitting these absolute bottoms or absolute tops. It really comes down to, do you think Bitcoin is cheap or do you think it's expensive? Do you think that's going to go up in the next three to five years? Then take a look at that and do some more research. So let me just think about that in the comments section. Let's get into it and talk about some winners and some losers. And the first thing I want to start with was lending platforms. And just to kind of bring it all home in the beginning, another crypto lender folds up shop, Hodelnot freezes withdrawals, citing market conditions. So just so you know, Hodelnot, I don't even know who the heck they are. I think they've, it says in the article, it's got 500 million assets under management, which is nothing big. But there is one piece that I thought found very interesting. So Singapore based firm, which was found in 2019 said it wants to stabilize liquidity and preserve assets while it works on a long-term solution and how they do that. They tell all their customers, sorry, you can't do anything, we're going to close up shop for a while. Hodelnot announced in June that it had no exposure or loans with three arrows, capital or Celsius. That's the thing that I found interesting because a lot of the lending platforms that we saw that are now down Celsius and Voyager and whoever knows evolved and things like that. Three arrows, capital was part of the discussion. But here that's not the case. The case was is that these guys were swimming naked. And then once the bull run stops and the music is done, there's no more chairs left. And they got to close up shop and go, whoops, sorry, that wasn't our thing. So lending platforms, not the best. Hodelnot will issue an update on August 19th in March the last year, Hodelnot formed a partnership with Nexus Mutual, an insurance company that specializes in DeFi. I didn't work out so hot. Then of course, down here at 500 million and Astoner Management. So that's just the first part. And it puts in a perspective of like these places that are losing. And we see these crypto platforms, these crypto projects losing all over the place. That's not the important thing. The important thing is to take a look at which ones are thriving, which ones are laying down track. And I got to tell you, as far as centralized finance, it failed as big time. But someplace that haven't, take a look at DeFi, Compound, Avi, those type of thing. And also, let's take a look at some winners. Here's one of the big ones that I'm betting on, Polygon. So Polygon just put this out on a tweet. And it's from Polygon Studios, which I love that place. Polygon Studios, they helped to bring people in Web 2 over to Web 3 or the traditional into the new decentralized finance types of areas. And this will be with NFTs. So it's here, experience the real magic of friendship. Coca-Cola just launched the first of a kind and shareable collectibles on Polygon, which I found it interesting because they could have gone through anybody. Coca-Cola is a pretty big multi-billion-dollar company. They chose that one. I think just pay attention to Polygon. So I'm going to say they just did with Disney, where they're able to actually come together and they said, hey, we want you to be part of our incubator program. And they're the only blockchain out of six. And Metta was chosen. That was with Disney. And then of course, excuse me, Metta with Facebook, they were chosen to work with them. Gensokishi, which is one of my favorite projects. And now, of course, Coca-Cola. So again, look who is swimming naked. Polygon in this bear market, which is boring and going down and chopping sideways is making big plays. That's just one. The second one is iTrust. iTrust, as you know, has been a part of our show for, gosh, if I want to say over a year and a half now, there's a thing right above my head. And they honestly, they took a little guff from me because the website shut down not last weekend, but weekend before last. And it was three days. And they didn't give out any kind of information except for Twitter, which I lambasted them for that. Hopefully they learned and actually sent up emails consistently. But everything came through. And the reason why that they shut their website down was because there was an issue with custody. And they found that there was some type of breach on the website. They shut everything down. Your crypto that is stored there is not stored with iTrust. It is stored on the Coinbase custody, which is the same that's master, or excuse me, micro strategy uses. So you have to understand that it's a pretty good place to store it. I mean, if Michael sail over there, it says, no big deal. And also remember that Coinbase custody just signed a little deal with that small company called BlackRock 10 trillion assets under management. So iTrust just came out today and said, Hey, look, we know we have promised you guys staking and here it is. So today is the day staking has arrived and you're invited, you're going to get emails coming out. And it'll be a slow soft launch. But you'll probably see it in there this week. Staking has arrived. And it's going to start with Polkadot. And just so you know, there's going to be a lockup period of 90 days if you do that. So within your Roth IRA account, you can stake your crypto. And that becomes tax free because it's in your Roth IRA. And everything starts with Polkadot. So again, also pay attention to Polkadot and layer one solutions. So that's the second one. Also masterworks also part of the show. You got to remember that these lending platforms that were talking about how great they were, they're gone. A bunch of them are gone. But masterworks, what I've been talking about for a while is investing in fractionalized shares of art. Again, it's about the teeter totter for your investment. When one when something goes down, you want another part to go up, one of the one goes down, one of the one go up and up and down. So with this one with masterworks, they've sold an example of four paintings, one was a Banksy for 32%, 31, 33 and 27. And then they're actually outperforming Russell, Nasdaq and S&P 500 of 15%. And then just remember that they are registered with the SEC for all these paintings. So because they are securities, if you want to find out more, link in the description. And then lastly, I want to talk about this guy, Mike Novogratz. I know people aren't too happy with him because he first, especially at the Cardano community, because he said it was a cult, but hey, whatever. And he said he was big on the Luna and he got that Luna tattoo. And now of course, everybody's dancing on him because his Galaxy Digital is down 554 million amid the downturn. But don't count them out. And this is why I have to tip my hat to him. So speaking on the earnings call, CEO Mike Novogratz said, I don't feel nearly as bad as I thought I would. And I hope it's the worst quarter this firm ever has. Pay attention to this. You know how different companies are laying off people left and right? You had Robin Hood laying off 33% Coinbase, which is actually doing pretty good. It's still either either rejecting or withdrawing their offers or laying off people. But over at Galaxy Digital, they're supposed to finish the year with over 400 employees from about 375. So not only, I mean, it's not a lot that they're adding a good 25 people, but they're not reducing. So pay attention. Galaxy, he states Novogratz is investing in people, products, and engineering teams not only for the near term, but for years to come. While the crypto landscape is less certain than it was, my confidence of where it's going in the medium term hasn't waned a bit. I gotta tell you tip of the hat to Mike because it's not easy to take a whooping like that in the public sector and come back and go, you know what, we were wrong. I still got this stupid tattoo to remind myself, but I'm going to keep pushing forward and I really believe in the product that we have actually invested in. So I'm going to just think about that in the comments section. I got to commend him. Good for him. And then lastly, losers, Ethereum proof of work. Take this as you will. But this is the facts, Jack. Chainlink ditches Ethereum proof of work forks as proof of stake comes forward after the merge. Here's what we got. Chainlink is aligning itself with the decision of the Ethereum Foundation and its community. They're for forked versions of the Ethereum blockchain, Heath classic, which includes proof of work forks will no longer be supported by the Chainlink protocol post merge and official announcements, announcement, Chainlink protocol revealed, its services will remain on the Ethereum blockchain post merge. Ethereum blockchain epistates, anticipates the merge in September, which is coming up about a month, which will merge its main net with the beacon chain. Again, that's the second or the third one. Before we move on, just because Chainlink, as far as the Oracle isn't going to work with Ethereum classic, it doesn't mean Ethereum classic and all the different proof of work chains or forks are going to go away, just means that they're not going to have this specific Oracle. Is this a good thing? No. Is this like the nail in the coffin? Absolutely not. It's up to you to decide if you want to keep going forward within Ethereum classic, which is proof of work and those types of things, or just go over to proof of stake with Ethereum main net. I can't tell you what to do. So to finish this up, this is a full thought experiment I thought was very interesting. According to Ethereum's website, network's energy consumption will be reduced by 99.5% once they go to proof of stake. That's a lot. And previously, Ethereum's total energy consumption has been likened to that of the entire country of the Netherlands, according to the official website. Critics of such protocol switch say that proof of stake is less secure and therefore more susceptible to security breaches. Networks such as Cardano, Avalanche, Pokedown, and Solano all operate through proof of stake blockchain. So here's the thing. I don't want to get into the argument of what's better, a proof of work, a proof of stake, but there is one thing I would like to make mention of, and that is this. If you want to talk about security and things like that, has Cardano been hacked? Has Cardano even been down since its inception on the main net? No. Avalanche, has it been hacking a layer one solution? Maybe in the ecosystems? Same thing with Solano and Polkadot, but has it been hacked? Hacked? No. Has it had a lot of transactions? Yeah. Do I think that it could actually happen? Maybe. Anything's possible. But for everybody who says, well, proof of work is the only way forward, and it's going to be Bitcoin or nothing? Maybe. I don't know. I'm not here to change the world. I'm here to change my bank account. So we'll see how that works out. Anyhow, let me know what you think about that in the comments section. And that's it for today. So look, I don't want to go too long with these type of things. I'm still feeling pretty good. So we'll cut it off right here. If you like today's video, give it a thumbs up. Consider subscribing. You do this the part we do the Q&A. I'm going to miss that part, but health is the most important. So thanks for stopping by. I appreciate it. See you on the next one. Adios.