 Welcome to Jalassette News, the top stories in cryptocurrencies and Jalassettes, and a big amount of bite-sized pieces today. This is actually the video that I had previously recorded on June 30th, 2020. The reason I'm uploading this again is because it was mysteriously deleted. I've already contacted YouTube, I did an investigation, and from what they tell me, the person who deleted the video was me. And I can tell you right now, I did not delete this video. It was a pretty good one. It had a lot of views, a lot of engagement, and people were enjoying it. So it made no sense to me. However, I'm going to have you watch it, and you be the judge, and let me know if you think there's anything in here that would cause this video to be mysteriously deleted by the powers that be. Alright, let's jump right in. Got some interesting stuff. First up, helicopter money is coming, and it's actually going to be good and bad for Bitcoin and the rest of the economy. Also an update to the mainnet launch provided by Charles Hoskinson, where he also talks about how Cardano differs from Bitcoin and Ethereum. And finally, we're going to take a look at a fantastic interview brought to you by Unchained Podcast. This was Mike Novigratz and Raoul Pal, and they sat down and talked with the host about what is going on with Bitcoin, where it's going to go, and what, potentially, we can all expect in the next months and years to come. But first, what's going on with the market? Well, it looks like everything is going pretty much sideways. Bitcoin is at 91.30, and over the past 24 hours, there has been approximately 0.0 percent change. So that's fantastic. Seven days, though, down 6 percent. Ethereum, over last week, down almost 8 percent, Tether's Tether, XRP, 17 cents, wow. Bitcoin, Cash, SV, everything else, pretty much the same. Stellar, up by 2.7 percent. So nothing really fantastic, just pretty much a sideways days. Except for Compound, they took a little bit of a dip, 7.6 and 24 percent over the last week, which is not really surprising. We'll see how that project works out. I think it should do good things for us DeFi, but my money's un-Selcius. All right, before we start, I wanted to make mention of, I did a poll and I actually had a post on the community where I had asked a question about eToro. If you don't know, in the description of pretty much all of my videos, I had a referral code for eToro. The problem was is that I kept getting responses by people because they were having problems. So I actually reached out to eToro and I had a couple of issues myself. It is still unresolved and it's been now going on two and a half weeks. And that was actually an issue that I have with finances. There's another issue I had that we were going back and forth as far as like providing a dollar cost average versus trader challenge. I want to do a couple of things and kind of bring attention to eToro. And this has been going on for three months. And so that's one issue. But financial issue shouldn't take two and a half weeks to really clarify. And the customer service, in my opinion, has been catastrophic, we will say. So I just asked the question to everybody else. I thought, well, maybe it's just me. You know, maybe I just have a problem. But then so the first one, I had 29 responses and it was all pretty much negative. And then I want to step further and I just said, hey, for those of you who had interaction with eToro, tell me how bad it is. And I was expecting to be somewhere between three and four. And one was awful and five was outstanding. And I thought maybe it gets, you know, majority fours and then some threes. But really what it is, is 28% of you said it's awful, like the worst, the worst. And then 17% said it's really bad. I mean, not the worst, but it's pretty bad. And you look at that, I mean, that's like, that's a huge amount. We're looking at what, 45%, somewhere around there, 44, 45, 46. And then the next biggest one was 40. So if you have customer service, that is, you know, 85% awful. Or just, you know, kind of crappy. I can't promote that. So I've already gone through most of the videos and I don't have, I won't have an affiliate link with that. Same thing with Coinbase because, you know, why would I promote something that sucks? So that's it. So thanks for giving me your feedback. Really appreciate it. Let's jump into today's stories. So first up, helicopter money, everybody's favorite. A U.S. stimulus backed rebound could fuel a Bitcoin bull rally. Here's why. And this whole article is great. It's well written, everything else. But the thing is that you have to understand that helicopter money, it can only take you so far. And really, it's going to be bound to fail. I'm going to tell you why. So what's going on is that the benchmark cryptocurrency, and they are talking about Bitcoin, surged 0.78% to a whopping 9184, a move that aptly tailed the recovery sentiment in the S&P 500. I love that word surged. I think it was just so fantastic. Cryptocurrency digital asset market, it is not the S&P 500. So when we get a 1%, less than 1% surge, that's not a surge. That's a blip. Let's say yawn. That's nothing. So it's something that we're not used to. And maybe in the traditional fans, that's awesome. But for us, that sucks. So anyhow, it goes on to state about speculative optimism. S&P 500's Wall Street peers NASDAQ composite and Dow Jones also inch higher by 2.3% and 1.2% respectively. The Wall Street Journal credited pure speculative optimism for the S&P 500's rebound, knowing that expectations of a new stimulus package kept traders bullish about the index. So here's the thing. This to me is scary on many levels. You've got a bunch of people who, they know one thing by the dip because they've heard it for so long by the dip, by the dip, by the dip. But the problem is that you've got people who have really no idea what they're investing into, like Hertz is a prime example. You got a ton of people who invested into that because there was a huge dip. Problem was Hertz went into bankruptcy. So good luck getting your money back. And that was a big FOMO type of thing and people are gonna end up getting wrecked. So we see this type of thing where people get stimulus money. They get helicopter money. They're like, well, I gotta do something with it. And I hear this thing to buy a dip and Robin Hood is really easy to use and boom, I was gonna just dump it all on that. And then it's just not a good thing to do. I believe. So when we get this stimulus package and then the S&P 500 goes up, people are like, oh, the economy's doing fantastic. No, that's not how it works. So I think the smart money is still going to invest because I know it's gonna go up because the Fed's gonna bail everything out. But if you are actually trying to invest for the long term, that is insane. I see a lot of problems coming up and I don't know exactly what's gonna happen because I'm not noticed for Domus, but I can tell you that this cannot last forever. So I don't think that helicopter money is sound economic policy for growth, but let me know what you think in the comment section. I just don't see it. Moving on, the S&P 500 peaked at 3,200 points in June. That's amazing. It's on track of reaching its all-time high even as conflicting poor fundamentals led by the rise in COVID infections, jitters investors. So imagine that. During this time when we had over 41% of small businesses actually closing, which we covered yesterday, and we have record unemployment and all these different problems that are happening in the economy, yet the Wall Street still goes up. And I understand that people are always telling me, well, the Wall Street and NASDAQ and the S&P 500, they're betting on the future. Well, how far in the future are you betting? I mean, are you betting on six months, 18 months, three years, five years? Because I gotta tell you this growth, I don't see a V-shaped recovery. I mean, W at best. So we will see. But observers at states that, observers believe that the Federal Reserve and the US Congress will keep injecting money into the economy to help sustain the rebound. And just so you know, for those of you who are out in the United States, Trump, President Trump is facing a reelection coming up on November. So we're like, what, five months away, six months away, somewhere around there. So he's gonna pull out all the stops. And what he is trying to do then is there's been huge talk about a second stimulus check coming about. And this was put out by the Forbes and they say that they don't know all the details, but we can walk you through everything we know so far, including the stimulus check details found in the HEROES Act, which passed the House and is awaiting a vote in Congress. Finally, keep in mind this is an election year. Several reports say that President Trump is in favor of a second stimulus check. We understand that a second stimulus check may help his chances at another election. So I mean, if I was at another election, sure. I'd be like, hey, let's just throw some money, see how it all works out. Moving on, it states, this is a quote, there's a safety net under the bond market and the market or the equity market, said Philip Blancato, the president of Ladenburg Thalman Asset Management. And there's a saying which goes, it's cool until it's not. Everything's good until it's not. So if the Fed is going to be bailing this out, I mean, really the question is how long can the Fed keep bailing everything out? How much money can they print? How long can this go for? Because if you haven't stayed up to the news, just you know, here in the States, we just had 15 states have paused or reversed the plans to reopen. Even in my state of Texas, everything now is now back to lockdown. So you got North Carolina, Louisiana, Florida, Texas, Nevada, also Montana. Arizona was another big one that just said, nope, we can't because the round of infections is on the rise. And if you have those type of infections up and it keeps happening, it keeps happening, then you're gonna have a pullback. And this is another report which talks about this from the WHO, the World Health Organization. And I know the World Health Organization hasn't been on the most solid of footings because there are different problems with China and favoritism and whatever else is going on. However, I will say this, the things that they are talking about now have actually come true. And when the WHO says, hey, look, this isn't the worst is yet to come. Everybody's like, you're crazy. This thing is gonna go away in the summer and no problems. Well, guess what happened? It is 103 today here in El Paso and we have doubled our infection rate since yesterday. And then in my other city that I live in, in Houston, they've had a massive influx and they were having problems as far as like the ICU and ventilators because they were getting maxed out. So if we think about these things and we look at what's gonna happen, what's gonna go on, this pandemic, which was supposed to kind of sputter out in this timeframe is not doing that. It is actually doing the opposite and accelerating in certain parts of the world. Now, every part of the world is not gonna accelerate. We're gonna have some kind of downtrodden but if you look at what's going on, it does not look too fantastic. So in this article, it states another wave of panic could be devastating for markets as well. The stock market's V-shaped recovery could be in jeopardy. Other crash could make the structure from a W rather than a V-shape. And again, I've been saying this for a while now. I just don't see a V-shape recovery from all the different things that are happening. I mean, if you look at retail and hospitality and public health and sports and gyms, I mean, all these different businesses are slowing down which is really the backbone of most of the economy and especially here in America. So I don't see how we can actually spend our way out of this or print our way out of this. I think there's gonna be a lot of problems coming up. But again, I mean, I could be wrong. Who knows? Let me know what you think in the comment section. But I will just say this, I, if there is going to be a big dip, make sure you have some money on the sidelines to buy that dip. I never am a big fan of going all in and just putting all my chips in on one day. Dollar cost average in. And then when you see some slides come, especially like big ones, if you were ready for the March slide, the March dip, you made a killing. And it's, I see it happening again. So that's what I will do. And that's maybe you should, maybe you could look into that, not financial advice, all that good stuff. And then here's a something from Willie Wu comes up with some model, which predicts another bull run in a month. And, okay, sure, right, whatever. I gotta tell you, like I talked about TA yesterday and I just had a couple of people go, I can't believe you don't believe in TA and it's just ridiculous and da, da, da. If that's your belief, that's your belief. Sure, go ahead. But I mean, if you're gonna think that there's a bull run coming in another month, God bless you, great, sounds good. Anyhow, let's move on. Next up, Cardano. This is how it differs from Bitcoin or Ethereum. This was a pretty good one. Charles Hoskinson is fast becoming my favorite CEO because he just makes like, he just kind of says what it is. And like, I mean, if you believe him or don't believe me, love me, hate him, he's entertaining. This is all I can say. So he goes on his talk about, he says, look, this was an interview from Altcoin, but he says, with Bitcoin, this was the first mover. This was the first generation. Really, it was the concept of, can you have decentralized money, decentralized transfer value, decentralized ledger and somehow, some way a dynamic and decentralized network will maintain that. This was not the case before Bitcoin. No one ever pulled it off. The problem with Bitcoin is that it's so simplistic. It's not a criticism. It was a design feature that the architecture system were trying to push. He was gonna state that with Bitcoin, you can't issue assets. You can't do a complex contractual relationship or a smart contract. You can't do dApps and define all those things. I know that people are gonna be like, no, no, no, Bitcoin can do smart contracts. Sure. But from here, what he's talking about is like some type of complex, contractual relationship, whatever he means in that regard, maybe different, higher level things. I don't know. But when he's talking about these things, it's just very interesting. And I'm gonna show you a video in a second of why I think he's actually right. So he was gonna state that the point of Ethereum, which was the first second generation crypto, was to try to understand what that model looked like. So it took everything from the prior generation to centralized ledger, the dynamic and decentralized control, but then it said, hey, now all of a sudden your transactions are programmable. And he said, while Ethereum is programmability, opening doors, Hoskinson says the second largest cryptocurrency is limited by its inability to scale and shared data with traditional systems. But there's a way around that, Ethereum 2.0 is coming out with the sharding. I mean, if you wanna use oracles like Chainlink, I mean, they can pull outside data. So it's a two-prong system, but you can't do it. He says, it's not good enough to just say, hey, we're gonna build a system that's blind and deaf. It doesn't really understand or see the world around it. We need to build a system that's aware that there are other systems and can communicate with more and more value and information. So finishing up, Hoskinson says that the limitations he sees in both Bitcoin and Ethereum led to the creation of Cardano. So when you bundle these three things together, interoperability, scalability and sustainability, that functionality creates what we call a third generation cryptocurrency, makes sense. So that's Charles in a nutshell. And there's two things that I wanna make mention. First of all, I kept mentioning that the timeline was, you know, the launch was end of June and then maybe if we needed to July 7th was the last part, but actually I was incorrect. So this was an article which was written on May 29th and I think I just let some things out. So someone corrects me yesterday. I forgot it was, I'm sorry, but thanks for correcting me, I appreciate it. But there was, here was the timeline essentially. Hoskinson talks about these things take place in 11 steps. So the first one was May 11th, which was the launch of Friends and Family Test Network. Next one was June 9th, Haskell Shelly Test Network. They can run a stake pool. June 16th, public test network will be open all users and the wallet and the known all it's up. June 23rd, the commonator hard fork took place. And so that's all been done, right? So we're there. Provided this test runs smoothly and I think it has. The Shelly client will be released on June 30th when we available for anyone to download. As a precaution in case there are problems, July 7th is available as a backup. So that's where I was going, okay, July 7th. States here, users will have four weeks or three weeks from that date to upgrade their software until the Shelly may not hard fork on July 29th. So I guess I was right, but not right. So just to make sure we're all clear, we're going all the way to July 7th in case there's some hiccups. Then July 29th is the hard fork and that's when everything is supposed to be fantastic. So we'll see how that goes. So that's the first thing. The second thing I want to talk about is when Charles is talking about how great Cardano is, the question that in my mind is first mover advantage and is that really true? And is Cardano, is that going to be like the Google Chrome or is it going to be Microsoft Edge? I want to talk about can be fantastically illustrated by our friends over at Data is Beautiful. They do fantastic work here. And what they're talking about is the most popular internet browsers, 96 to 2019. And I put this on double X speed because you want to watch the whole thing. It's kind of boring, but at do X, it's actually kind of interesting. So what we're going to do is we're going to start this little guy right now. And remember Netscape Navigator? Well, if you do your old license, but here's the internet explorer. This was a 99, mind you. And once Explorer came about, because Netscape Navigator was the first and some people will say, well, that's what Bitcoin is. It's Netscape Navigator. I don't know if that's true, but maybe it's like an explorer. Who knows? One of the first ones and it was dominating what four years, five years, six years, seven years. Then came Firefox. I remember Firefox and it was awesome. So fast. It worked out pretty well. And before you know it, you're like, oh, Firefox is going to be like V1 to take over everything over. And then there's this thing called Chrome. And Chrome came from nowhere and all of a sudden just started to get market share. And now we're coming up to 2010, 11, 12. And look what happens. Chrome starts to dominate. And then Explorer, which had done so much for so long, a decade, falls the wayside. Now that's Microsoft. Microsoft said, you know what? We're going to make Microsoft Edge and we're going to get rid of Explorer because that's going to be the new wave and we're Microsoft and we can do anything we want to because we're awesome. Well, the problem with Edge is it never just gained traction and it just kind of fell the wayside and that's a problem if you are one of these big conglomerates who then they can do whatever they want to. Big innovation really doesn't come from like these big, huge companies. It comes from smaller companies which are nimble and quick. They don't have to be saddled with all these different levels of leadership or management and they just make things happen. So when we see, let me reverse this, we see something like this. Google Chrome came from nowhere. So the question really is, is Cardano Google Chrome and they're going to start to take over? Maybe they take over Ethereum because of what they talked about all those different three aspects or are they Microsoft Edge? That it sounds great and they made this fantastic product just didn't work out for whatever reason. And then just so you know, if you don't know what Microsoft Edge is, I didn't know, I had to look it up. I was like, oh, it's for Microsoft is both take over and explore. They're actually going to get rid of Microsoft Edge and go to some other thing called Chromium something or other because it's just not working out. And the reason they did that was because they said, oh, Microsoft Edge is going to be so much faster and we're going to have interoperability and it's going to be fantastic for the internet and people can build on it. Well, guess what? Nobody use it. So the question again now is, is Cardano Google Chrome or is it Microsoft Edge? That's the big question. All right. Let me know what you think of the comment section and let's move on. Lastly, Unchained podcast. I had seen this around and I catch them every so often but they're very long. Usually they're like an hour. Sometimes they're 30, 45 minutes but mostly it's like an hour. It's a podcast, right? It's a long format. So, but this one was exceptional and I have to give it to Laura Shin. She did a fantastic job here. And if you don't know Unchained podcast you can subscribe to it. It's fantastic. Actually, I'm going to be there right now. Subscribe. And who is Laura Shin? Let's just get it out of the way because we always want to know who's put in pen to paper or who's talking and who's going to tell the information. So, Laura Shin is a crypto blockchain journalist, host the podcast we just talked about. She's a former senior editor at Forbes, first mainstream reporter to cover crypto, graduated at Phi Beta Kappa with honors from Stanford, master's arts from Columbia, school of journalism. And when she is interviewing people you can tell she's like a real journalist. Like she's not like me. I'm just an opinion person. I give you some information. I inject my opinions or whatever else. She's smart and she's got really great questions and she puts out the right information. So what she's got is two of the heavyweights these days. Mike Novigratz, Raul Powell and a couple and she actually recovered her a couple of videos ago when she had a Shemath by Appetite on where we discovered that Shemath had no idea what DeFi was, which was interesting. So here, I'm not gonna play the whole thing. Obviously it's just an hour, but there was three things to go over. One, I was wrong about Mike Novigratz because when Mike Novigratz here who is the CEO of Galaxy Digital, Raul Powell is a macro economist and we've featured him on the channel before. When he's talking about, Mike Novigratz here is talking about, hey, it's really difficult to buy Bitcoin and cryptocurrencies. I was like, what is this guy talking about? But I get now why he said that when he talks in a little bit. And then we're talking about quantitative easing and the reason for the Bitcoin rise and then they're gonna talk about all that helicopter money and why it's good and bad. So let's just take a listen. And listen, this is an adoption story. And if Bitcoin was easy to buy, it would be a lot higher. And so we've dealt with a few hedge funds that are buying it, right? They've got to go through all the new diligence for their funds and it's a two to four week process for their back office to feel comfortable. And so it's not like pick up the phone and call. Then they gotta usually talk to their board, hey, we're gonna buy crypto for the first time. And so that's a great point. I never thought about that. I'm like, okay, this is my problem. I always think about me and how I do things but I have to look at it from the other side. So Novigratz is in that traditional market type of place. So when he's talking about these hedge fund managers and these institutions, there's a lot of steps they have to take to actually buy things. They can't just go, hey, you know what? I'm just gonna go to Gemini and just pick up some Bitcoin for my clients. They can't do that. So they have to go through a lot of hoops. So when he says it's difficult to buy Bitcoin, he's talking about institutional investors and he's right, I get it. The next thing I wanna bring up was he has his pulse on the next big buyers and I thought about this group and now I really see it. Once this group gets in, things should take off. Let's take a listen. A new group of buyers that are coming. They're not here yet. The financial advisor community is giant. The bulk of the wealth in America and in Europe is not owned by Gen Z or Millennials, though they like it. It's owned by Gen X and Baby Boomers and older, the 50 to 80 year olds. They don't have bread wallets or coin-based wallets or Venmo apps. And so getting the financial advisors to feel comfortable to then sell it to them is a process that GalaxyNet we're already working hard on. That's being amped up in a big way, not just... And I gotta tell you, there's no reason why if natural analysts, as things start to move and start to really get in place, why they would not put that out to their investors, to their clients. So if you haven't seen this one yet, this was actually put together by, it was James Todaro MD. I found this through Twitter. Actually it was sent to me by a subscriber and I had to actually slow it down because it was just too much all over the place. But this is the best performing investments over the last decade, as far as percentage ROI. And if you look at it real quick, if you look at, first of all, Domino's Pizza, 23% return on investment. Amazing, it's Domino's, Netflix. This is February, 2010 is where we are starting. But if we go through this, I just wanna show you that once Bitcoin gets in there, which is going to be around 2013, I believe. Whoops, went too fast. So look at Bitcoin, just pop up, pop up, pop up. And now we're going at 1000X, around 1000 in 2013. And it falls about Domino somehow, over takes it a little bit. But if you're starting to think about these financial planners, these financial analysts and the people that actually recommend certain assets to their clients, when they do, and they come in there and they're like, hey Pete, here's the thing. There's a lot of things going on with the market. We don't know what's gonna happen. All this helicopter money's coming in. There's a lot of uncertainty, especially with the Federal Reserve printing to quantitative easing. We don't know what's gonna happen. However, there is this asset and it is the best performing asset class of the last decade. It's new, it's a little volatile, but we think it's gonna have huge gains. And over the last 10 years, it's done 1000X percentage of ROI. So what we wanna do is we wanna take one 3% of your portfolio and put it in this thing called Bitcoin. All right, sounds good, John. I think if you can just do that, these planners, there's no reason why they wouldn't do that or even put it into Ethereum. Let me take a look at Ethereum and see how much that goes up. So when Novogratz is talking about these big players, these people, I was like, that's true. If they can get in the game, then it would be game over. So we will see. Anyhow, now Mike's gonna talk about institutional FOMO and I think this is gonna be the big catalyst. So let's take a listen. So I think in the next few months, you're gonna see a lot of FAs putting their clients into this. And also, Mike, as you know, is the whole, the structure of this is everyone's got the right on it. And if the price moves up, everyone gets FOMO and has to get involved. And that's at institutional level now. Yes. So if it goes up further, the more it goes up, the more the market cap goes up, the more they can justify it to their trustees and the more people get involved. So I think we're at that tipping point of a virtuous cycle that can continue for a while, but we just need to get through these levels first. But I think essentially every institution, every RAA is almost kind of short the upside calls. Not really, I mean, obviously there's a bunch of people who are, but really what it's all about is people don't have it and they need to get it, but they wait for the price for confirmation. So it makes sense, right? So I can see all that. And then Laura's gonna ask a very smart question. She's a very smart person, journalist, right? And she's gonna ask him like, okay, what are the driving factors? What's really gonna push these people over the edge? What is the determining situation that's gonna lead to Bitcoin to go to wherever you could call it the moon? The decision makers have made the decision. It's just kind of a matter of time to let those decisions play out in the market and we should see the price rise. But I'm wondering like, so what is it that's driving those decision makers? Like what is it about Bitcoin that makes them think that this is the investment to make now during the time of the coronavirus? Is it just as simple as like, Bitcoin is scarce and we're about to see unlimited quantitative easing or is there anything kind of more... It's just that simple. And that's pretty much it. So if you have a chance, I highly recommend to listen to the whole podcast. It's an hour long, a little bit long, but hey, if you've got nothing else going on because you're on lockdown like me, why don't you take a listen? So that is it for today. Thanks for sticking with me. I really appreciate it. And as always, I want to say thanks to the supporters. So level ones, they give me a tip of a couple dollars and I really appreciate everybody that does that. Thanks so much. Level two, hey a little bit more and they get a shout out. So all right, soft. When Mullet, myself, who else? Dave Plummer, Grant Sharman, Bruce Wood, Baking Benjamin's, Noel Flippin' Vegas, Martin Lewin, Michael Ralf, William Howell, Crazy Crypto Canuck, Tessie, Ryusaki Positive, Troke, LLC, J.C. Dirick's, Crypto Veritas, John Miller, The Office, L. Murg, Michael Jeffery, The Kells Show, Mage Research, Andrew Herrera, Terry Prospery, XRP Carolina, whatever, AE and Hero Soap Company, they do soap. And that's it. Lastly, my email is Dan Digital Asset News at Gmail. There's a scammer going by the name of Dan Digital Asset New at gmail.com. They're trying to get you into trading something or other but I don't trade so I don't know what they're doing. So if you get something like that, just put it in the spam folder if you got time. And that's it. So thanks a lot and I'll see you on the next one.