 Dream I've got a lot of things to go over a lot of things to cover. So let's just jump right into it Shall we so first of all welcome to the live stream appreciate that you're here and just like the thumbnail and title suggest There's been some pretty Negative news over the last couple weeks or so and I got to tell you this news that has been coming out or has just come out Really makes me extremely bullish in the very long term now short term We're gonna talk about that today later in the DCA show with me and James from Vest answers And Ben from into the cryptiverse but for right now what I really want to talk about is The long term the in those guys will talk about the short term and what could this all potentially mean But first of all, let's take a look at the little market recap Also, I want to say thank you Kazakhstan and the shift in Bitcoin in the United States And then there is this one problem and there is one group that can royally screw up everything for crypto United States We'll talk about those guys and lastly Talk about avalanche and it's massive fundraising, but is it deflationary? This is a video that's put out by invest answers and then finally we'll do five questions in five minutes And just as you know or potentially don't know the DCA show With me and Ben James will be in the next hour or so at 1 p.m. Mountain 3 p.m. Eastern So check that out and I'll put the link in the description below So first of all, let's take a look at the market and the market I was kind of confused today. I'll be honest with you and we take a look at this. Here's what we got So I was looking at the market itself. I'm like, hey, it's a pretty good day, right? I mean, we're up a little bit. We're still below two trillion But whatever in the last 24 hours or up or up or up and every time we go up in our market and crypto I always think to myself. Ah, well, that means that you know, if we're up Or if we're up a little bit that that means that the S&P 500 and Nasdaq should be up because we're in lockstep Especially with Nasdaq and we took a look at it. I was like, nope, that's not it And it was weird because I'm like, this doesn't make any sense. There goes my whole thesis. That sucks I thought that we were you know, really in tandem and we take a look at Nasdaq and so it is I'm like, hold on wait it doesn't update for From yesterday and I'm like, what the heck is going on? So honestly, I thought I was like, well, I guess my thesis is wrong. However, this is what it is It's good Friday today. So even though good Friday isn't a federal holiday or bank holiday New York Stock Exchange Nasdaq will be closed on April 15th. Just a day, right? Yeah, April 15th In observance. So I was like, well, there goes that does make sense. So nothing today, nothing's out, nothing Sunday So, you know, hopefully We'll get a little bit of a run, but who knows and that's what's going on in the market So let's jump into the top story, which is Allow me to breathe a little bit easier. I got to be honest with you lately I have not been in the best of moods with this market and I think a lot of you share that same sentiment, but Taking a look at what's going on Macro and globally, we can kind of see that there's actually some positivity out there And this is exactly what I'm talking about. So first of all Sorry for the people of Kazakhstan. Sorry Sorry for the people in China. I'm sorry for the people in India I'm sorry that you're getting screwed over by your governments, essentially For crypto not Kazakhstan. Kazakhstan is doing this thing and I'll get into that right now. So Kazakhstan To increase tax for miners considers tying levy to crypto prices This almost sounds to me like unrealized tax gains. But here's what it is According to a statement by minister of national economy, uh, alabac Chantarov nailed it. The plan is to calculate the tax based on the market value Of the mind crypto. Here's what he says We are considering an increase in the tax burden for miners at the moment We are also considering linking the tax rate for miners the value Of the crypto if crypto grows It'll be good for the budget and this has gone back to my main thesis, which is this people talk about, you know Certain countries, especially in America banning crypto. I'm like, they're not going to do that They're not going to do that. Why would they give up all those taxes? That's a lot of tax revenue. So the same thing with Kazakhstan. They're like, we're not going to ban it But we're going to shut down different miners because we can't handle with the electricity load That's what happened not too many months ago Also, we're going to tax it. Unfortunately, they went the wrong way just like with India India is overtaxing all of its residents and that's killing crypto trading crypto Accumulation in India and we see that as far as the volume goes down and it's going to be the same thing over here for miners What does that mean? Well, it means essentially Miners are going to go to some some other place. They're like, we don't like being taxed that heavy Why don't we just go to America? And this is what happened if you are new to crypto China used to have the lion's share of crypto mining over 75 Then the country banned it and all those miners had to scramble They sold their bitcoin, which led to a little bit of downturn and they went to different countries such as Kazakhstan such as different parts of Other parts of the world but mostly north america because it's cheap and by kazakhstan doing this I'm like, thank you You can breathe Because now you know what that means That means the more crypto is going to come over or more bitcoin mines going to come over here to america And that's just job creation That's good for regulation because people are like, oh, well, this is actually going good And actually who controls the regulators and my personal opinions the politicians and the politicians see these Job opportunities and increased in tax revenue. Like we should probably get on board in this And this was an article from coin desk is minor concentration once again jeopardizing bitcoin because somebody may be afraid of this i'm not I'm happy a high percentage of hash rate now located north america may look like china 2.0 But it's a little bit more complicated complicated According to report released by cambridge for alternative finance in october us accounted for 35 percent Of bitcoin's global computing power in october 2021 that was at the end of august and And actually doubled at the end of april from the end of april so it was at 16.8 percent 16.8 percent was the us bitcoin hash rate in april And then in august let me give us a quick math a may june june So in four months It went from almost 17 percent to 35 percent. It doubled Kazakhstan and russia followed the us with hash rates of 18.1 and 11 percent respectively Guess what just happened to kazakhstan? they're going to get hugely taxed And they've already got a an electricity grid issue So what does that mean? They're all coming over here and also in russia What do they have in problems with they haven't problems globally? I don't know if they can i mean i will say this they do have a lot of oil so they can probably keep on the electricity But with everything that's going on as far as the sanctions Maybe it's not a good idea for people who are mining bitcoin in russia Maybe you should come someplace else if you can't I don't know if you can or not That's just a corporation. So anyhow And then china had dropped a zero down from a high of 75 percent in september 2019 That's good coin share a sudden research report the largest global mining country in the u.s With an estimated 49 percent of total global hash rate is now In the region of the united states as of december 31st 2021 50 percent Is that bad? Well, I mean it's a free market. You can do whatever you want to do So as far as these these miners going someplace They can do whatever they want. I mean as far as like the operations, but just to be just to be aware Proof of work band narrowly failed to pass on a european union parliament committee vote not too long ago So again, I to me. I feel like all the other countries are just screwing up and all's the america all's americast to do Is not drop the ball. I mean just let everybody make the mistakes So like in sports let the other team make the mistakes Let china make the mistakes Like catech stand make the mistakes. Let the eu make the mistakes. Let the indian government make the mistakes Not the people the governments and the regulators and let them screw up And let them come and then let it come over here to the united states and the united states go Wow, we've got a lot of things going on. Maybe we should not be so hasty In our assessment and then just because I know people are going to start to scream about decentralization and Globalization and stuff like this just remember this and this is the same thesis as far as china too This concentration may seem like another threat to decentralization. However, mining pools don't control the network And they don't have a lot of clout because any miner Can quickly change pools If there is any hints of foul play or censoring bitcoin transactions doing something kind of crazy So just remember just like how we talked about with china Like oh, it's not a big deal even though it's like 75 percent miners will always tell me the same thing Rob, you don't understand mining We can pick up and move anytime you want to and go to another pool. Okay, I got it So it's the same thing with america, which leads me to my next point This is good news Because again, I think it's good job creation. It's good revenue sources. It's good tax sources. That's great and even Across the aisle. We've got bipartisan cooperation. Here's ted cruz and of course, if you don't know he's public and senator here from Great state of texas and he says as you know, I'm a huge proponent of bitcoin I'm a huge proponent of cryptocurrency. Notice. He doesn't say blockchain. He says specifically Bitcoin and cryptocurrency and he's not saying like what the chinese government or the government say They will say and even jayme diamond will say this. I'm a big fan of blockchain. That's not what I asked you You know, are you a fan of bitcoin and crypto because blockchain's a whole different thing I'm a fan of bitcoin and cryptocurrency great and then also Before I get my last piece here is in america The mid-term elections are coming up specifically tuesday, november 8 2022 And what that means is the house of rep representatives and the senate There's going to be a runoff and i'm just going to tell you right now Democrats are going to lose They're going to lose big even even people up in the higher echelons of the democratic convention democratic Democrats uh Group will say yeah, we're going to lose a lot of seats because of what's going on and here's the thing When you have a lot of politicians and they have no fear of losing they don't really listen to people too much However, when it's a hotly contested different area all of a sudden like What do you want me to do? How do you want me to do that because I want to get in power or I want to stay in power Tell me what you want me to do So I can be that representative that you are actually voting in because I want to stay in power or I want to be in power And I think that's going to be a big shift because now A lot of politicians who if you're not on board with crypto and digital assets I think you're on the outskirts and this leads me to and we talked about this before This was something that kathy woods had talked about. This is at the bitcoin conference It's two minutes and she's pretty much saying that there's a basic shift in the politics Of crypto and this right here gives me a lot of relief when I hear these things in the long term As far as crypto and digital assets, so this is a minute and 45 seconds Let me stop the screen. Some of you already heard this already, but uh, it's uh, there's witness to actually it's good to actually hear it again Let me go to the tab And let me mute myself so you don't get any echo We both have political opinions. Yes okay So why don't we start with uh politics and regulation and economics? What do you see as we look forward and how you think it's going to affect bitcoin? Well, I think the most interesting thing that's happened and we met someone from mississippi I think a congressman From mississippi and i'm seeing the politics around bitcoin changing radically because it has become you know The single issue that some people are voting on and this is bipartisan And even where we've moved in st. Pete Because people know that uh, i'm very bitcoin Focused They the politicians have become come to me and said I want to I want to Pull together a room of bitcoin enthusiasts And I I really want to learn from them what they want from us. Think about that Think about that. That's that is a radical shift over the last few years The other thing that I see so a year ago roughly when janet yellen was appointed treasury secretary um, I remember her first comments about bitcoin were money laundering, you know nefarious characters Environmentally damaging and then two weeks ago Someone's whispering in her ear and we talked about this. You think it might be gary genzler There is someone whispering in uh, the the ears of politicians If you want to lose if you want the us to lose out on this one of the most amazing innovation platforms of all times You keep talking like that. So she has changed her tune. So i'm very Uh, I'm positive too. I like to hear those things because Kathy's probably in the upper echelon talking to a lot of uh, big hitters a lot of big players and a lot of politicians And i'm sure i'm nice guessing actually that uh, this is some actually some good news and things that she hears As with her ear to the ground and also I want to just make mention of one small piece right here um be careful with stuff like this We'll see where it says live now tesla ceo elan musk will start pumping cryptocurrency. That's a scam And they're all over the place and what is amazing to me is that you got 12 000 people watching this And like on my stream, I get i'm roughly around a thousand So I don't know how many bots those are if those are real people But it just goes to show you if it's not bots, there's some really super greedy people out there or naive or gullible Or people who just wanted to get taken advantage of and it just infuriates me that there are so many of these scams going on And yet youtube can shut down all these different crypto channels yet. They cannot shut down all those scams god Dang, I can't believe that Anyhow, let me just think about that in the comment section Let's go on to the next piece The only group that can screw this up Is the sec that's probably when it comes down to The people that can really mess this up because we we're seeing that politicians are They're doing their due diligence. Just like kathy said they're like, hey, you know, sit down with me Let me sit down on my constituents. Let me figure out what you guys want Let me talk to some people that actually know what's going on so I can make the best decisions for my region They get it right and politicians get it the regulators even jennet yellen is getting it But it's this sec and their stubbornness It's amazing to me. It's amazing. And boy, I was wrong about gary ginsler I'll just tell you right there And this is just one more piece of the puzzle. So here's what we got for this story. It's very quick. I'm not going to dwell on it There's a new rule seeks to change the definition of exchange to include entities that connect buyers and sellers A new rule proposed by the sec to expand its definition of exchanges will unfairly subject Developers and publishers Registration requirements. That's the whole thing. That's the whole story right there So again, there's another proposal coming out Well, they slipped in some different language and it can be interpreted different ways That's the whole thing with bills but there is One more piece that gives me hope and this was actually again on the bitcoin conference that gentleman right there director of policy and public affairs at bitcoin magazine grant mccarty Announced the launch of a multifaceted political effort There's three bitcoin advocacy project or BAP bitcoin policy institute bpi and the newly registered financial freedom pack so all these different Packs or organizations They're working for us to make sure that the politicians and hope for the regulators Are doing the right things and they know and they're educated to make sure they're doing they're making the right decisions It's a 501c fee non 501c fee 501c for non-profit organization dedicated supporting and defending bitcoin Users in the us by fighting against political efforts to protect self-custody and proof of work BAP created candidate scorecards. I thought it was interesting They created candidate scorecards so different politicians that are coming up are already in power To track which politicians are pro bitcoin and which are anti bitcoin pretty interesting BAP is also educated lawmakers on bitcoin has helped lawmakers draft legislation To protect proof of work and bitcoin self-custody boy I gotta tell you they got to go over to the eu and help them draft that new bill, but uh This probably here as far as the scorecards And that was BAP so I looked it up Uh BAP is bitcoin advocacy project and this is What they have it's just the twitter. I couldn't find a website. Maybe i'm missing it I did a search bitcoin advisory project candidate scorecards nothing. I can't find it So if anybody has that information, I would love to have that and put that Link that in the description so people can actually find it and they can say hey If i'm voting maybe I want to vote for somebody who has my interest aligned with what I want and you can go from there So that takes care of that Let me just think about the comment section and lastly, let's finish up and get the heck out of here with avalanche Ha avalanche and its massive fundraise sue here's what's going on and to be Transparent I own a lot of crypto and avalanche is one of those So I'm a little biased just so you know avalanche labs reportedly hits 5.25 billion valuation with new rays Uh, the report raises follows an incentive program aiming to develop application specific blockchains on avalanche Previous investors in the avalanche ecosystem include Andres and harowitz Same people three arrows capital and polychain interesting Latest avalanche labs raised 350 million Just recently that's pretty good And now they're evaluated at 5.25 billion. So when you raise that much money You kind of got to prove to people that you're worth it Because you're like, hey, we're worth it, baby. You can trust me Give us some money and give us they give you a bunch of money So if you get any negative press doesn't look good for you just saying The avalanche foundation also revealed an incentive program Last month that would put up to 4 million avax tokens were 320 million toward a program called avalanche multiverse It aims to grow its subnet functionality Which helps develop application specific blockchains and avalanche. This leads me to my last point And uh, I thought it was funny and I thought it was interesting This is james over in vest answers and actually this is crypto banter and they had I always want to call it m&m. I know that's not right Ah, there we go. M and gun sir sir nailed it and uh, he's the CEO and creator of avalanche and he came on and was The crypto banter people and was like, hey, it's not Uh inflationary like james talked about in this show. It's deflationary and went over all these numbers James came out as like no This is the deal and this is why it's whites inflationary And if it made a lot of sense actually and it was massively inflationary and james looks crazy there I'm gonna switch that. Okay. Okay. Yeah. Yeah, that's better. So i'm just gonna have you watch that video I linked it in the description below and it was just fascinating and and to me it's kind of like well And in in the video you can kind of see that Uh, emin was pretty ticked off about the whole thing. But remember When you raise that much money Kind of wanted to like i'm worth it, baby. I'm worth it. Anyhow, that's what's going on and then lastly just so you know We've got the dca show. So I just want to talk about the long-term stuff. I'm super bear I'm bearish. I'm super bullish on the market in general But I have my concerns about These upcoming quarters and especially right now and I think you feel it and I feel it too So we're going to get to the bottom and I got a lot of good questions for these guys that only they can answer So tune in roughly about an hour uh, the link is You should link's in the description and just set a reminder. That's what I always do because I always forget stuff And that's what's going on. So that's it for today's show. Uh, we're going to do five questions in five minutes And uh, we'll go from there. Thanks for stepping by. I appreciate it Yeah Good stuff. Good stuff I started somebody. Oh, beardy day crypto um He This guy's funny. He's following on twitter. So beardy says emmer tom emmer is in my blood. I think I want to say it's minnesota I always get that wrong But uh, yeah, tom emmer is great. He is pro bitcoin pro crypto. He wants to get rid of the uh, uh, uh, investments Some parts of the regulation to to be an accredited investor, which I think is stupid anyhow Uh, so I like that guy a lot. He should run for president. You know, it'll be the great. This would be a great ticket uh the mayor of uh, of miami suarez As the presidential candidate and tom emmer as the vp who wouldn't vote for those two guys. I'd vote for them on harpy So, yeah, all right Not for my nonsense, let's get to your Good questions. All right did he question number one Clarence, did he already talk about the bs itself? Yes, I covered this in like three videos ago three days ago and it was just Doesn't make any sense to me. But actually does make sense to me. I can't say that. I understand why celsius And meshinsky alex and those those groups I understand why they bowed The knee to the regulators because it's either you got two choices Either bad of them or you go through a costly Very costly litigation and see where it all ends up Uh, and they just said, you know, I want to deal with you guys So we'll cut back and at some point we'll work with you to make it work I gotta tell you I know people say, well, it's not a big deal. It's a big deal I think it's a bigger deal than people letting on that's like celsius is One of their big things and again, it Just watched the video. It's all it's only for united states investors and and or non-accredited investors So if you're outside united states, don't worry about it, doesn't it? You don't have to You have to give yourself an ulcer or stuff like that Oh, man, sorry sold luna five dollars inside. That's why I'm bullish Like I don't sell until I really need it and uh, don't worry about it, man silverback gorilla If you missed an opportunity, it's okay. Another bus is coming right around the corner. Just pick up the next opportunity I want to go to thailand. Yeah, I heard it's really cheap there Let's see I don't know what that is I can't even put that I can't even put that in Uh, great question investor celsius is all good for you customers as far as I know All good for you customers only affects united states Non-accredited investors. We are not going to get any yield Now I could put in my paperwork to do the accredited investors to be a common accredited investor, but why It doesn't it doesn't do you guys any good a lot of my subscribers and non-accredited investors and I just think it's uh It's it's I think it's unfair for what the accredited investors do You can go to any casino And gamble your life savings away But dammit, don't you dare invest into some type of new technology because we'll go right here To protect you from making money Gary again, sir I know gary watched the show. He knows i'm kidding All right So how do you think luna's a scam? No, I don't think it's a scam so far seems we're doing okay I like the fact that they're buying a bitcoin use investor money to buy bitcoin Kind of how it works. That's to be honest so Actually, I will to say this if you're on if you don't like a project Do a ton of research and just consider everything a scam until proven otherwise You'll be a lot happier and a lot richer if you treat people like that or treat projects like that. You can't treat people All right, and then one more one more question. We'll get out of here and then before I forget Let me Ah, sweet. I'll get in a bit. I'll put in a One more hour. We'll do the dca show and that's it Yeah, this is a great question Is it true that solana's true tps is around 180 if they don't count blockchain confirmation? The shades don't appear to count that I have heard that the tps is actually more around 440 as opposed to millions That's would require a deep dive. I will just say this Have you ever used solana for different things like it's nft or trend? It's fast. It's super fast And uh the transaction fees are next to nothing So I know and you know that you have used ethereum and it's a lot different than than what that is Now the real question is can they maintain that? I don't I don't really care Can they maintain that as they start to scale to 10 million 100 million a billion people and go from there. I don't know And that's it. All right. That's it for uh, what's going on? I got to get ready for the next show So everybody if you like today's video give it a thumbs up I'll also consider subscribing all things to talk about our time sensitive That's it for today. So I'll see you on the dca show with ben and james on the same channel. That's it Thanks so much for stopping by appreciate it videos