 Working, oh see the microphone is... Papap! Alright, that's better. It's always something. Alright, what's up internet? While we are waiting for people to show up, let us play the usual ad. Madalilo mo, Mordor! Hanapin ang address version na gusto mo piliin ang preferred playpen friend ko. Wala pang 5 minutes na sizigit na para sa windows mo. Maraming na kaming na tulungan! Dati... 7 depart ako But now, I'm from a log of my life! Dati, ig-messan walang purtos ang life ko. But now, I'm a world-class Zumba instructor! So, web developer ako and content creator for a YouTube channel and ngayon ganun pa rin ako pero activated na yung windows ko. Kaya akong naghanap ka ng legit, mura at original software. Check out cdkoffer.co Check out cdkoffer.com Check out cdkoffer.co Alright, welcome everybody. Thanks for tuning in on a holiday day or long holiday. This is Crypto Watch where we talk about cryptocurrencies. So, we do this show once a month. And if you check out the text description, I list down what the price of Bitcoin was at every episode. So, this is episode 21. Last month, it was at 26,000 and now it's at 35,000. So, it's quite a change. Sub-Sus-RBX. Sub-Reno. VanCoon. Alright, let's do the usual tech questions first. Masukanda, 3060 or 4060? No question, 4060. It's around 20% faster than the 3060, even the 3060 12-wigabyte and it is cheaper. Okay, Puba for 80k budget. I7-13600F at RTX 4060 Ti. That's within the ballpark. That's what I would expect for something at around 80k. So, yeah, that's pretty good naman. So, for Crypto Watch, last month was October. Historically, tumataas yung prices of Bitcoin in October. But last Crypto Watch, I was saying nasa nabasi October. Yan yung tawag ng mga crypto enthusiasts for October because yung yung historically tumataas ngayong Bitcoin. At the time, I did Crypto Watch last October. Slight palang yung change in the Bitcoin price. But towards the end of Bitcoin, it really... Sorry, towards the end of October, the price really rallied as in wild na... It was a wild ride up. So, basically number one, bakit tumaas biglaying Bitcoin? At number two, how come the title of the episode today is Bitcoin is way up, but why am I still losing money? Jankish sa Loop Network. I don't know enough about it to speculate. Di ko masabi, like to be honest, I have no idea kung malilisba si Binance. Generally, if something gets listed on Binance, medyo there's a bump in value kasi maging mas liquid siya. More people are able to trade it. Generally, the more people trading something, the better it is for the value of that currency. Especially if it's just starting to be traded initially. It's traded in obscure places and then suddenly ba magsaksa sa Binance or suddenly you can trade it on Binance. Usually, there's an uptake for a couple of days in the price of that. I hope so. Consensyo mo. I hope so. We'll talk about it later on, but why I hope so. Mining, not so much. So for those of you just new to the crypto space, mining basically means that you have computer hardware and you devote, you run computer hardware to solve math problems for whatever crypto that you want to generate. After you have solved, after you find the correct answer to the math problem, you are rewarded with an X amount of that cryptocurrency. Although that is the simplified explanation of mining. Modern mining before, it's not even the latest iteration of mining, but mining, kasi parang winner take all yun, kung sinuman makasagot ng tama sa very complicated math problem na yun, will get the entire amount of the reward and so each block may award yun. Before it was like 50 bitcoin, it's na kahalving. I'm not sure we're at 50 or 25. Honestly, I can't remember anymore. But when you take all yun, modern mining do is nag-tipon-tipon kayo. So you're all in one group and you're all doing work to try to find the answer to that one problem. And if you're part of the group and you find the answer, you don't get the entire amount, you get the reward, prorata, amongst the members of the group. So, kong ikaw yun nakahanap nung tamang sagot, 10% of the entire work lang of the group na generate mo, 10% of the reward lang makuha mo. Why would you want to do that instead of solo mining, not working in a group? Because especially in very large networks like bitcoin, it's almost impossible for a solo miner. Yun tipong, based on reeling hardware, not the base-scale operations, the chances of you finding the correct answer are very, very small. So you pull your chances together and over the long run, at least may share ka sa profits, even if you're not the one who actually finds the answer. May cut ka pa rin dun sa generated crypto coin. So that's how most miners did it before. But now, for bitcoin, you can't just mine with your GPU. Uso kasi yung mining datay, because you could use your graphics card, the same component you use for gaming. But a long time ago, bitcoin mining became so competitive that, kasi datay CPU yun, then they figured out that you could use the GPU pag-competitive ng pag-competitive. And then, hindi na siya cost-effective to use GPUs for bitcoin mining, now they use specialized hardware called ASIC miners. So it's not like you can just be a gamer and just do crypto on the side for bitcoin. If you want to mine bitcoin, you got to get serious, you got to get an ASIC miner. And even then, usually you have rooms and rooms, yung mga serious miners na yung mga ASIC miners. For Ethereum, the sort of the second most popular crypto, you could mine before using your graphics card, but they moved from proof of work to proof of stake, meaning that there are validators in plate. You basically set aside an X amount of Ethereum and that amount of Ethereum helps the network validate the transactions, the transfers that are going on within the network. So you don't use any hardware for that anymore. So basically mining is mining is out. You can still mine for altcoins, for alternative coins, but the values of those are much less compared to bitcoin and Ethereum. So short answer, di na masyado. So bitcoin is way up. We started last month, it was around 26,000 and then now it's at around 35,000. Umakit nga siya towards end of October mga 31, umakit siya to 34, 35, medyo naglalaro siya between 34 and 35 at the moment. And I am super annoyed because nagbet ako around 28 na babagsak siya. So I shorted. Basically when you short, you bet that the market will go down. And it's a little expensive to short. Di ko patinerminate yung positions ko. Because you know, 28, it went up to 30 and I'm like, to be honest, I just couldn't believe na sustained yung rise na yun from 28, naging 30, 31, 32, 34, now 35, at around 30, hindi pa rin ang makapaniwala. Short pa rin ang no short. You know, just throwing good money after bad. So yung crypto talaga parang kahit tumataas, it's like you can still, like I can still trip myself up. And I often, you know, whenever I do crypto watch I always say na hindi ito financial advice, it's just like an amateur who's been in the space for a long time and I just talk about what I've been doing. It's not advice to you for what you should do kasi nga, usually if it's trading, I'm usually okay but I've recently gotten, like I've set aside some money to be super aggressive yung mga yung mga shorts and yung mga long, yung mga leverage trading and that has been, like I can make money but then just one mistake, like itong akit sa 28, I was pretty sure na that's way too high. Babagsak yan. And it didn't. Not only did it not go down, it went up pa. So I'm like, oh jeez man, I was like, okay, so I mean may, may pangkain paraman ako. Always, especially when you invest in risky assets like cryptocurrency, don't bet the farm. I mean, only bet, only trade. You notice the way I talk about it's like betting kasi yung nga, I mean you can be the best analyst in the world but at the end of the day it's like playing poker. You don't control everything. There's an element of chance behind it. So, only trade, only bet what you can afford to lose. I always do that. Medyo masakit yung losses so far, although they are still paper losses. Yung current strategy ko, I think it's impossible. I wouldn't say impossible again, because I'm kind of terrible at predicting this market now. But I think it's really overvalued. Like, I'm hoping it'll hit 31. Babagsak it's around 31. I'll sell my, I will close my positions then. At least you know, they're at a loss but not as much of a loss if I sold them now. Although I do run the risk that kong umakiat pa siya lalo, did I mean, incurring more losses di ba? So, it is not a good situation. My portfolio is not in the greatest spot now. I was doing well to be honest with straight up trades and things like that. But medyo, nakakawili tung leverage positions sa yung short and yung long. It's really gonna, it's really gonna get you. So, why did, why did the price go up? Why did the price go up dramatically towards the end of October? Nagkarumor na the USSEC, so that's the Securities and Exchange Commission. There have been a lot of big companies that have been applying for Bitcoin ETFs or exchange trust funds. Basically, a Bitcoin ETF is another form of currency but it's an institutionalized one. Instead of mom and pop traders like UNI, yung mga individual traders selling, buying and selling on Binance, on Kraken, these are really, these would be professional funds operated by these very large liquidity corporations. So, Bitcoin ETF, everybody thinks that pag na-approve yung yung USSEC because it is a form of security. So, the the Securities and Exchange Commission and the states needs to approve it. Because they are run by such large, well-known companies, everybody thinks that when these are approved, the commercial investors, yung mga sanay mag-trade sa bonds, mag-sanay mag-trade sa commodities, sa stocks, ma-a-engan nyo sila sa Bitcoin, para malilligitimize yung Bitcoin and new money, flowing into Bitcoin through those Bitcoin ETFs, would be perceived to be a large boon for the market. And towards the end of October, medyo na ka-rumor na na-approve na, although that rumor was completely wrong. But there are signs that the approval is imminent. I think the deadline for the USSEC is January 10, so next year, but people are thinking before the end of the year or something. So ngayon palang, there's like this, it's the usual in whenever you're investing in anything, it's a full mo, yung parang fear of missing out na, bibilin ako ngayon, kasi for sure tatas yan pag umakit yung pag na-approve yung Bitcoin ETF. For me, like you know, yes, the ETF was there, but I didn't think people would get so amped up about it until closer to the date. Eda na isip ko na, hindi maganda yung, everything else about the economy now is pretty not so great. US stocks are down, reflected also in our local stock market. There was a sell-off before the long weekend, although that's normal kasi traders don't want to get locked into a position during a long weekend. Hindi sila makabay and sell if something happens. So before a long weekend, at least for the local market, that's normal. You know that there was a sell-off. The macroeconomics, I thought didn't look good for a sustained Bitcoin run. You have the war in Israel in the Gaza Strip. You have the economic indicators of the states are not good. Their debt is crazy high with no plan of how they'll be able to pay it off in a rational manner. You know kong baga, walang parachute, it's just this debt going up and up and up and pagbagsak nyan. It's just like everybody wakes up and they're like, why are we still buying dollars when they're useless? The US just keeps printing money and keeps borrowing money. So not so great on that front. US bonds are shit basically. The bond yields have been pretty terrible. So the macroeconomics don't look good. Then everybody, then you always have those class of people saying that if markets if markets stumble, kung magkabig lang makas drop sa stocks, people will go to Bitcoin because it's like digital gold. When there are times of uncertainty, people buy gold because it is inherently valuable. Whatever happens, gold will always still have some value. There are people who argue Bitcoin is like that but if you look at previous events, when the pandemic hit, the recession in the states with the sub mortgage crisis, Bitcoin also dove and it dove like a rock. So I don't personally believe in that theory na Bitcoin will benefit if other means of investment go down. It's not gold. I don't think we're there yet in terms of how Bitcoin is perceived. So the macroeconomics, I think would weigh down on Bitcoin but it's just really buoyant at this point. I mean, everybody, this is this ETF fever na parang bibilan ngayon, bibilan ngayon kasi pag na-approve yung ETF na yan. It's going to be wild. So that's where I made the mistake. I underestimated the crowd fever to get into the Bitcoin space before the ETF is approved. So um Yeah, that's where I am now. Hopefully it will go down to around 31 so I can liquidate my positions at a loss but not as big of a loss if I liquidate it now. So you're just kind of being a bit strategic about when I incur my losses. People tend to focus on Bitcoin but there are a lot of other old coins. Like Solana was at around 20. It's around 40 now. What's it? Solana is at now 41.76. That's a 100% increase. Imagine if you had put in Solana just two weeks ago. Just two weeks ago. Solana was around 20 something. Now it's around 40. Although the old coins are really like This is what I tried not to tell myself when when I'm investing when I'm shorting and shorting and taking long positions on futures all in max leverage. I mean yun talaga you'll end up losing your house if you bet incorrectly. It's a wild ride. So Yeah, yun think talaga sa crypto yun think sobrang umangat siya I'd be happy but I didn't take those positions. Although I do have very long term investment. So if Bitcoin gets anywhere near it's all time high of around 69K I would still I would be very happy. But itong very big very big akiat baba it's very difficult that I'm still kind of learning trying to figure out how to best time my short term investments. Yeah, it's a wild ride man. Not for the not for the week of stomach. Yeah, so but all coins are if Bitcoin if you find Bitcoin in Ethereum already very volatile maslalo pa yung mo old coins yun niya Solana Chain Chain was being talked about a lot on crypto Twitter and so far it has kind of broken out but Solana there was really like a pent up demand for Solana crazy Yeah, Randy Mack actually a lot of my I don't hold a lot of Ethereum parang it's too stable for me I have to basically I have two parts for use long and short for long term yun niya I like Ethereum it is a steady asset but I've basically focused more on my short term holdings yun talagang buy and sell very quick couple of days shorting a bit of long positions for those I really like old coins because they are they go up and then they go down a profit in between those margins subang mo ba bedan akiat some of the old coins I like well yung Solana has doubled in price basically SOL I like Lumen XLM medyo nakabisado ko yung price up and down OXT I think that's Orchid I like OXT also OXT I tried to make a profit on our rep v2 so that's augur v2 but it's not doing so well like sobrang sobrang mo abagsak siya and then I was buying because I thought it would recover some of its value and go up but so far it hasn't so again what do I know sub iyan I try not to be super like the A technical analysis I mean I try to do it but not to get super like I think the I think the downside to technical analysis is that people start seeing patterns in everything and then yung yung ha you have the you have the dragon stale gold gross whatever parang I think it's important and I do I like people who talk about it on Twitter but me personally I do a little bit of it but not a lot yung yung I try to be more like ano ba yung sentiment to market but even even considering that point of view nagulat ako sa level of fomo nung mga tao sa Bitcoin ETF I mean it was like feeling ko kasi but again yung yung it doesn't matter what I other people feel kasi if more if that's the sentiment of the majority di dun pa punta yung market tiba there you go meme coins like shiba inu like douche like pepe coin I think you can make a lot of money on them but also you lose a lot of money like bago sila sa mikat when they're not trading it on binance or whatever and then you get in early ta sobrang magpapump and then you sell high and then you forget about them I think you can make money as a long term thing I'm not super enthused about them but the old meme coins like douche shiba inu shiba inu pepe they still do go up actually medyo wild pa rin yung swings what I look more for for in a short term investment is wild swings yung babagsak pero reliably akit again like I don't like ripple so ripple is one of the more established currencies but it for me it doesn't really appreciate well what I look for in a short term excuse me allergy what I look for in a short term investment na old coin yung babagsak bilika and then yung pero reliably akit siya when the market stabilizes again so the meme coins do that but I don't put a lot of occasionally but I don't put a lot of money in them yun but I do have a bunch of old coins from before sometimes I'll just try my luck that's more like gambling na yung parang just put a little bit in just because I don't know anything about the coin performance niya I will I do that occasionally just you know you want to roll the dice a little bit you have some extra money you think why not para ganon so rep v2 like auger v2 what's it at now so the one here is a coin codex that's what I used to check the prices on a daily basis but for trading I use Kraken oh actually rep v2 has gone up 53% and it's now at 94% oh I might say make some money on this darn thing wait da alright so I usually don't now like well okay so it is now currently at 94% yung rep v2 I bought it at 81% and 90% so may profit pa ako sa lecheng rep v2 oh nakabili din ako at wow 75% right after this stream I am terminating I am closing I am selling my rep v2 and see that's the thing about trading if you want to be serious about it not even serious like this is not my full time job but even if you want to kind of take it a bit seriously like you want to make some money off it you really gotta track the prices you just can't kung long term fire and forget okay lang you don't look at it for six months that's good but yung itong I'm trying to be very aggressive and yung talagang short fast in fast out you really like I check the prices every day it's easy when you are making money but when you're losing money you don't want to open your exchange account but you just gotta force yourself I mean you know you roll with the good and you roll with the bad rep v2 although I did buy rep v2 at $1.40 so I'm still at a loss there kayo kasi itong solanan na ito grave kala ko babagsak hindi nang bumagsak but like I'm still down on litecoin I bought it at $86.70 it is at $70 now but those are the kind of things that I'm okay naman like I'm gonna check another one I like is Melon MLN sorry Melon is enzyme ooh made money there too OXT so basically all greens in the market is up naman I tell myself that I'm actually shit at shorting I mean I make money but when I make one mistake talagang my profits are wiped out for trading to be honest I am okay like I reliably make money yes I lose a little bit of money but you know in the total up naman ako not bad the problem is I'm impatient with trading it can take a little while to to get I don't know I'm talking about like after a couple of days like 3% return yan yung mga targets ko with super short term trading after 2-3 days 3% return you can put money in your bank account it will take you ano ba yung interest rate niyo for bank accounts for your TD I don't think it's fine I mean you know dissente na yung 5% per annum you can make 3% in 3 days with cryptocurrency if yung nga A you know what you're doing and B you have a little bit of luck you always need a little bit of luck so my trading my trading jujitsu is not too bad I mean yung nga false modesty aside not too bad the problem is yung nga I've been dabbling with futures kasi na babagalan ako sa normal trading yung leverage na short long you can make so much money but you can also lose a lot of money yep I have been hearing a lot about this ocean protocol especially yung flux I don't know too much about it but I am also idly curious about it yep okay let's check Atom Atom I bought it at $6.75 oh Atom I bought it at $6.75 it is now $7.84 so there so like all of these are good yung nga I made money on the trades yung problema yung problema my shorts my shorts ate my shorts that's pretty much how to sum it up in a Bart Bart Simpson language so like legit after this stream I'm gonna go on to Kraken and sell all of this I world coin I was interested but it's not on Kraken so I usually trade on Kraken I have been trading on Kraken for years so wala apatang as a project I find it very interesting as a means to generate income for trading it is good kasi medyo akit bagsak siya makit pala kaya siya when it got introduced and bumagsak then medyo nag recover so if you can time that right maganda siya long term I don't know if it's reliable some crypto kasi reliable may mga soaking coins na ako na kahit bumagsak alam ko I have faith in you there's enough interesting na aakit siya kahit overtime kahit doesn't work out in the short term in the medium term one month or so aakit yan world coin doesn't have enough track record yet for me to kind of speculate and it's not on Kraken so I am not personally invested in it like I don't have any money in it as a project I think it's super interesting for background for those who don't know I forget I'm not sure if it's by the same guy who did chat GPT so the same backer of chat GPT the company that made chat GPT I am sorry I forget the name Sam Altman I think it's Sam Altman he also has a crypto project where he deploys hardware around the world that scans your eye so you get an account which is link to your biometrics nobody can spoof that account and so from a from a technical perspective that's super useful like if you log on like Facebook would start accepting that as a login it's much more secure than a password based approach because it's tied to your biometrics and even like things for voting instead of being worried that there are digital ghost voters or things like that if each account is linked to a biometric then you're sure that that is a legitimate voter so there are a lot of valid reasons why you would want to tie a digital personality or a digital account to your biometric so he deployed hardware around the world he scans people's eyes I'm not sure face also and then you get world coin in exchange for that so it's kind of a very experimental kind of project but at least it's like it's a practical project some of these crypto coins because it's actually some of the old mean coins parang wala lang parang joke time lang talaga wala intrinsic value Ethereum when it came out was a very practical project the ability to do smart contracts like it was really taking what Bitcoin started with and improving on the entire thing you can see how adaptable Ethereum is because they move from proof of work to proof of stake so there are some crypto coins talaga na pinag-isipan like they are trying to tackle practical problems and world coin is one of them as an investment for trading if you can time it right I think it's good but yung nga wala pang siyang long term track record I am not on Binance so I could not compare my experience at both of them I like Kraken because it is very secure they seem to be very anal about security yung yung yung I've been on them for years ever since I started trading just for context I've been in Bitcoin or since like I was a minor trading since Bitcoin was double digit CPU mining pa siya nun so way back when I'm not a millionaire because apparently I need it to be more dedicated to it like if I had known it would be explode to something like this I would have just went all in on that right but I have been dabbling in the space for a very long time I've been on Kraken for a very long time I like Kraken the customer service if you need them you can actually chat and you'll get someone and basically I trust the exchange the UI naman is basically easy to follow like they actually had a UI revamp recently so even for long time users such as myself I had to get used to it pero it's good I I have no problems with it was happy with it I'm so happy that I really haven't tried any other exchange I do have some local exchanges here but like the bulk of my trading is really in Kraken alright so this is basically my weeping account of how I'm a dumbass and lost a lot of money in shorts when the market went up hopefully the market will be kinder to be next crypto watch so enjoy the long weekend guys thanks so much for watching yesterday we did live from the shop which is another live stream we do once a month today crypto watch tomorrow is we have a video dropping on a review of an ROG keyboard then Saturday is a short review on the exa headset on a exa headset and then Sunday is another review of another exa headset this is a common story welcome to the club willo it is like that you just gotta roll with the punches that's what I love about that's what I love about crypto it is a roller coaster ride akit ba ba talaga siya there's no way of sugarcoating it it is really like wild I haven't seen any specific local news the BSP is on top of it the BSP requires local exchanges to get a license from them and actually there are easy ways now there are a lot of easier ways now to cash out crypto in the local space so you can go the usual suspects like coins.com coins.ph rather or pedax but even gcash now I think you can sell and trade crypto so basically like you have ethereum you send it to your gwallet your gcash account you have pesos then you just transfer out from there so there might be restrictions but there are ways and of course para na hinayang ka na andaming transaction cost do you pay the exchange fee do you pay the transfer out fee and things like that but if you made a lot of money that's just the cost of doing business alright thanks so much for watching guys have a good long weekend stay safe and I'll see you I don't know where the next livestream is I'll actually be out over this weekend but the content continues bye