 Welcome digital asset news. Take a top stories and cryptocurrency and digital assets and bring on a bite-sized piece to save We've got some pretty interesting stuff first up new deposits to Ethereum 2.0 reach a record high in May And this is just part of the bigger story The big story to me is that an Ethereum node was launched into space and is now Implemented into the International Space Station amazing So we're gonna take a look at what's going on with with ETH ETH 2.0 the Trilemma about security scalability decentralization and is full and also What's going on with these little bit of delays and how it's going to eat into the market cap of Ethereum for things like? Binance Smart Chain and Cardano So we'll take a look at those two stories on top of there's a new integration for iTrust capital Which is for all Dan users when they've actually signed up for their iTrust IRA and they've actually gone from curve To coin-based custody and it makes absolutely no sense to me So we're gonna talk about that and we're also gonna bring Anthony a head of brand to come and explain just why the heck They did that because it doesn't make any sense and then that's what we'll talk about today So let's take a look at what's going on the market. First of all, it is June 15th. Hey, congratulations. It's 1020 a.m I'll pass with Texas time and look Market caps down a little bit to 1.7 trillion But we were on a pretty big freefall and like 1.44 1.38 somewhere around there And now we've done a heck of a recovery. I cannot see it just Maintaining Nick Mancini over there at trade the chain even said he goes look today We had such a big days over the last two days expect some red candles and he was right yet again I'm gonna have Nick on the show on Thursday and smart guy. He's gonna tell us what exactly is going on What he sees coming on the future. So Bitcoin? 40,000 I'll take it Ethereum 2500 take that Binance Chain 367 what days everything's a little down doge coins down a XRP down a little bit That's okay once they win that lawsuit. They're gonna be up massively Polkadot those pair of chains are on sale or going for sales that it looks like they're up 5% They're gonna make massive runs everything looking pretty good. And then also let's take a look at the projected range For some coins Tether reserve reserve rights, we'll see That's gonna go down majorly. Wow. Look at all these things This is not looking good. I've never seen this actually. So let me blow this up so you can see this hopefully See this right here These one hour projected ranges you got like in the middle negative 100 negative 49 a 23 21 16 15 13 These are all the ones that are going to looks like go cheese down. That's not what we're looking at Let's see what's going up Not too much Cardano up by 7% potentially 91% over the next now Well, we'll see how it goes. I'm gonna bring in Alex and CJ. We're gonna do a Trinity trading So that's what's going on in the trading market trade the chain. You can check that out It's links in the description all that good stuff. Let's jump in today's big stories and this to me is Fascinating a theorem 2.0 going from proof of work to proof of stake and all the different hurdles that they're going through One of the things that's positive about this is the lockups the amount of that's actually locked up Not just in staking but in defy. So this was by Christine Kim excellent article. This was six days ago and Really first part down whatever this is what I found important As the number of deposits has grown so as the total staked on the network in order to be an ETH 2.0 validator Users must take a minimum 32 ETH worth roughly 81,000 at the time of writing that's 81,000 that's a lot of money Just remember like in March 2020 aetherium wasn't 2,500 bucks in March 2020 aetherium was like a hundred and twenty six dollars Somewhere around there correct me in the comments But it was super low during that black swan event imagine if you would have picked up aetherium then Well, maybe in the next two three years people might be saying man Can you imagine if there was only 2,500 bucks back then imagine picking it up back then and on this channel a lot of investment advice Just the best investment opinion. I I see I do see big things for aetherium I talk a lot about Cardano other smart chains, but I just don't believe that aetherium can have everything I kind of see aetherium and some other smart chains as kind of like the Kind of like Bill Gates and Microsoft and Steve Jobs and Apple and maybe a two-party maybe a three-party system And we'll see how it works out anyhow, the deposits represent 46 4.6 percent excuse me of the circulating supply of ether which indicates that the vast majority of ETH is used for other Purposes like market speculation a lot of us use it for trading DAP execution all those good things So there's still a lot of utility for ETH Just not for staking right now because you know to stake ETH you need 32, which is a lot of money on top of that You can't take it out until ETH 2.0 fully integrates and actually launches and that could be a year to two years from now So that's a long time for for lock up, but people still believe in it and that's what's positive Since the major there. Oh, and this is the big thing. So there's been some slashing events The major incident in February I was at 75 valid validators from the ETH 2.0 network There have been eight new incidents of slashing. So if you don't know what slashing is It kind of differs the Cardano network the Cardano network doesn't have slashing They just they penalize you by not paying if you screw up essentially But for slashing if if you are a validator and you do something malicious either if that was intentional or non-intentional You do something that just doesn't fit with that mold Then they either shut you down or they penalize you heavily or just kick you off the system. So that's a slashing event It's a very harsh, but hey, sometimes you need a little tough love out there to make things secure So this has happened and there's been eight new incidents reported. So just do the right thing. You should be okay So here's the interesting part on top of what's going on the Cardano note is aboard the International Space Station on Thursday just Not too long ago four or five days ago an Ethereum node was launched into outer space from NASA's Kennedy Space Center Abort a SpaceX Falcon. That's from the car salesman rocket and a Monday the note arrived at NASA's International Space Station for installation That's interesting, but it's the fourth one that they've done that They put it into low-earth orbit and this was done by Space Chain I didn't know they even existed in 2018. They launched up the Qtum blockchain And deployed in the Leo then 2019 they set up the first active Bitcoin node on the International Space Station So that's pretty cool. We've got Bitcoin up above as a full node. So everybody who talks about well Gosh, what about an EMP? It's gonna wipe out everything. No because there's a node in space and Can't hit an EMP on that way So to finish up Blockchain tech, which is traditionally run by computers on earth is vulnerable to sudden power outages Due to severe weather Physical theft and hacking you can't do that on a space station. So that's why they did it so good for them and this Part makes you think Zhang he is the CEO of Space Chain Mentioned that the Ethereum space node wouldn't be able to directly support the network's upcoming upgrade to a POS Which is maybe in a year. Maybe two years Space Chain would need to launch an additional beacon chain node into space to run alongside the first Ethereum space node and Zeng's hesitant because he doesn't understand He's like, I don't know if this can actually operate at a very large scale without sacrificing security. So This right here There's this thing called the Trilemma and it was made popular by Vitalik Buterin and you're gonna have issues either that's either That is with scalability with security or with decentralization in some way shape or form And when you go from proof of work to proof of stake, these are the issues and there's an there's an article I'm gonna link you can read the whole thing, but just real quick This is what he's talking about and once he's moving over there is gonna be an issue with decentralization potentially and also security so real quick Decentralization the pros of that is that the more decentralized the system the more secure. Okay, great for security though Here's the problem or here's the here's the great thing the primary benefit of robust security is that the blockchain is less Vulnerable to attack the more nodes you have the more you have to attack 51% to get them all the change over pretty tough When you have tens or hundreds of thousands of nodes So when you go from the proof of work protocol, which requires complex hash puzzles to be solved prior to block production and a ton of them This reduces throughput and increases network latency latency a strong deterrent from many potential users That are used to near instantaneous transactions So that is a problem with security as you try to go from proof of work It's a proof of stake and then finally we have the scalability issue as we go that route and Scalability ensures which is the good part that applications runs quickly, which is what we're all used to we want it just like right now and But the problem here is that the cost to achieving scalability Primarily primarily regarding security is a problem Quickly growing networks will require a fast consensus mechanism Everybody has to agree in order to validate more transactions while delivering the same speed individual users This can only occur in proof of stake or delegated proof of stake. This compromises the centralization The protocol is proof of work. The hash puzzles are mining algorithms would need to be easier in order to have a Commensure to leave fast validation process this compromise security And also decentralizes decentralization to an extent so This is why the problem with like Ethereum is we just found out proof of work And that's why they're moving our proof of stake. They're going to transition over to Potentially a security issue, but it's gonna be a lot more faster and it may not be as Decentralized. This is what Binance Chain did. They only have 21 validators total so to for them to say that it's Decentralized is not so much a truism So of course they reduce their decentralization But boy is it fast and boy is it cheap and this is the issue that has come up with the delay of 2.0 Why is it delayed? What's going on? And I think these these delays are what really eat into the problems with Market share so the telecomputer admitted in his recent interview That's it's taken a lot longer. He says we thought it would take one year to do the proof of stake But actually take six years Welcome to business Everything takes longer than what you think it's gonna do just to add on 4x He says one of the biggest problems I found with our products that is not the technical problems because they're they got a lot of developers They have no problems there. It's probably with people We got a lot of internal team conflicts in those five years and Peter and said that the biggest people lesson learned is that if you're building a team It's part of know who you are dealing with and he said that the current version of a theory has become a victim of its own success With the man pushing network fees to record levels make the majority of transactions too expensive for the average users But still it doesn't matter for us to get mass adoption Those you those fees have to go down and everybody right now I know you're screaming at the at the screen going but EIP 1559 We will see when that London hard fork comes out and it's supposed to Regulate those those fees a little bit lower. We'll see if it does solve that problem. I Just gonna stand the sidelines. I'm not gonna I'm gonna reserve judgment and this is the big thing Market share because competitors are circling What's going on? So case in point Binance Smart Chain average transaction fee about seven way versus 95 which is a 1200% increase Binance Smart Chain surpasses if they're in users and count in user count the time of writing dapp writer shows that Binance Smart Chain's pancake swap Has 23 times more users than ETH Uniswap version 3 Uniswap version 3 doesn't really have much going on when I try to go and use version 3 There's not as much liquidity so I just go back to version 2 and then off I go and then to finish this up Does Ethereum have the opportunity to take back their market share and now it says even though BS Binance Smart Chain is ahead of Ethereum and users It's only a year old and Ethereum is a colossal head start of five years So Ethereum has a far greater pool of developers all coins stable coins everything else Like I said Binance Smart Chain is highly centralized and that's really the big it I'm not gonna send this to the last part. So this is it For business and that's why this was a good article written on Nasdaq They understand business they understand market share and it doesn't matter if if you are in the lead and You've got you know a hundred percent market share That's great But you're always gonna have competition and it's important that you upgrade and make improvements Because if not the people that are down here They just come up and they they take your market share and it starts off slowly and then suddenly Just ask AOL just ask Yahoo just ask Blackberry just as blockbuster That's exactly what happens. So they have to continually improve and before you know it you that hundred percent market market market share goes to 97% then 95% then 90% then 80 before you know it You're like where's all our market share and I think that's one of the things that's that that's happening right now So these are the things that we talk about and it makes a little bit of sense as to what I'm gonna talk about next Which is I trust capital and grades Coinbase. I don't understand why they're doing this, but okay So first of all, let me know what you think about that in the comment section Before about ETH 2.0 by a smart chain Cardano avalanche all those smart chains that are coming up this I don't understand That's why I need Anthony on here. So first of all, they're moving from curve Which was an industry leader. Nobody really knew about it. Then all of a sudden PayPal bought it now It's the big rage and they were using curve for custody of their digital assets in their IRAs So with Coinbase, they they're gonna have segregated cold storage. That sounds good Insurance is gonna be 255 million dollars. That's that's pretty good I gave them that and then financial and security controls and they're gonna do audits Through the Coinbase system. Now. Here's the here's the FAQs Do I need to do I get to choose where my assets are put in a Coinbase custody? Everything will be handled by our internal security teams. You'd have to take no action These the two things staking and governance. They've been talking about staking for a long time over at I trust Which means you can stake your assets that you put into your IRA and then you can double dip means you don't pay any taxes on the appreciating value of your Bitcoin your Cardano Your Ethereum whatever and any kind of reward that you get from like a theorem Cardano. You also don't get taxed That's why I personally have had this for two years and I'm waiting for it to just explode which has already been pretty well and lastly they're gonna talk about governance and Governance tokens like Uniswap compound maker Dow Sushi poke it out more Care the right to vote on the different things that are happening and they're going to implement that with The Coinbase custody so let's jump in real quick and talk to Anthony and see just what the heck is going on and why they switched over Everybody welcome to the show Anthony He is the head of brand over there at I trust capital and he's been on the show numerous times to help me understand What the heck is going on so Anthony? Thanks for coming back. What is going on? Why did you guys go from from curve which was like the the industry leader? Well potentially and who are who's now I believe working with PayPal to go. You know what? We're gonna go to Coinbase. So straight that out for me. What happened? Yeah, so very happy to be on it's always good to connect with you and shout about everything So, you know, we were with curve for quite a few years and we're still with them. So we still have assets there Funny enough, it was interesting in the early days. Everyone said oh whose curve whose curve is is who is this company? Are they sketchy? We don't know about them And then obviously PayPal then comes and acquires them and the whole industry finds out what we've known for years that They're an amazing provider very secure. And so first and foremost, we all support decentralization, right? We support managing risk. We support being in different areas expanding communities. And so Locking horns with Coinbase custody is logical for us to be able to diversify or decentralize our custody have multiple partners We also Strategically are aligning in that direction as well because Coinbase custody has shown that they are looking to build Integrations into the secure infrastructure that we need so things like staking inside of an IRA Need to be secure and Coinbase is building that functionality with their wallet system as well as things like governance Okay, that makes because one of what can we weren't when we were reading the actual blog post I talked about staking and I was like and I've been telling everybody okay staking is coming staking is coming They're like probably only time so like it's it's good to actually hear that this I think is one of the reasons why you went To Coinbase because they're probably more like we're gonna push this and maybe curves got a different agenda or priorities I'm guessing I'm just guessing Yeah, and so curve was always good about communicating with us and I would you know interact with their team often and they have been working on staking But maybe they didn't have the dev resources. Maybe they've had to reprioritize So it seemed like timelines are consistently getting longer And then when we tell our clients a certain timeline and then the actual wallet infrastructure is not appearing in what in the timeline We kind of expected or maybe we're incorrectly informed It makes us look bad and so you know Coinbase already Coinbase the company Acquired bison trails which is a staking as a service provider Which I believe is providing the staking services for Coinbase custody and so as you see on Coinbase comm They already have a theorem to staking so they have this functionality built into their security infrastructure And I'll have our team be interacting with Coinbase custody to find out just how soon we can interact with say Ethereum to staking and then you know next likely polka dot and Cardano staking and It's an exciting time for productive assets that are earning a yield Especially when people can do that inside of a tax shelter. Yeah, it's pretty yeah It is it is pretty amazing because like you're really double dipping because you're getting the advantages of The appreciation for all the different assets you have in there just over time And you know what to pay capital gains because it's in a well for me personally It's in a Roth IRA. So I just pay I don't I just pay pre-tax Not if I go from like a thousand dollars to a million for whatever I whatever I invest in and I think that's cool So that makes a lot more sense and then I really like that 250 some million dollars insurance policy that the Coinbase has that's Pretty awesome. Yeah, and that's another thing with curve They had the 50 which was still great and one of the one of the industry leaders But I mean Coinbase is on another level with that 255. So we're very happy to have that for our clients Yeah, that might just cover me great. So yeah, just just your account So anyhow, so so there's that and then also there's this thing that I always forget to talk about well There's two things first of all you were telling me about trading inside the account Talk to us real quick about that remind people Yeah, right in your Yeah, so whether you know, you're an active trader the listeners or whether you're just the kind of person who's like me who Sometimes make trades for kind of risk management purposes, right? Things are going crazy or I want to change allocation Obviously when we're in the US and we do that it's a taxable event And so if you want to just make a modification in your portfolio You might be losing 20 30 40 percent of that trade and then you just are forced to hold We're in an IRA. You can adjust your portfolio anytime No tax events are occurring within the IRA and then with you know, say staking, you know When I stake my ether, I stake my cardano or my polka dot all that's coming in daily when it's outside of the IRA is income And I hate to have to increase my income and then pay more taxes when you know I think I think that's a bad tax law in the first place But when it's inside of an IRA that yield that's going to be kicking out is not income It's just compounding in the IRA non taxable event And so that's it's very powerful and it's right now It's more of an education thing that needs to get out there and the investors like you and your audience who are on the ball They're gonna be in a different level in five or ten years and the people who didn't plan properly Yeah, well, it's it really it comes out of planning, right? I mean if you if you fail the plan you're planning to fail right and then There's this so so real quick. Let's say that we we hear some event. It's gonna happen We know, you know, the crypto market is gonna drop and you want to just like okay I want to go from the crypto into like because I don't think you guys have stable coins But can you just like go from like a Bitcoin to like cash just hold it in your your your IRA account? And then one exactly and then once things drop and just put it right back into okay, so exactly gotcha Yeah, it's it's FDIC insured cash So it's real dollars real insurance and a real bank where stable coins are Dollars usually put into a bank on a smart contract So, you know what we have is is is superior to stable coins in every way in this functionality because you're not taking that smart contract risk Or this pegging risk. It's real dollars. Yeah in this function on so so people could have said, you know what? Bitcoin was at 64,000 the RSI was crazy. It looked like it was just over overbought They could have said, okay I'm gonna put this Bitcoin these profits in the cash Wait for it to go down and buy it right back and then boom They have to increase and it's an IRA and it's tax-free tax-free trading right there. Yeah, I love the RSI myself very useful metric That's one of the few that I know so real quick So real quick just so everybody knows as far like cryptocurrency and the I trust you got Bitcoin if you're in Cardano Dogecoin and whatever me and you already went round and round about that one Polka dot like coin chain like Bitcoin cash stellar EOS Uniswap compound and now you guys have sushi Going live today, correct? Yeah, so breaking news on the Dan channel. Obviously sushi is going live today sushi is You know was originally one of these first food coins that seemed like oh, you know, what is this is Stupid and it is a juggernaut of a community of 15 person team They have sushi swap, which is one of the most, you know, dominant decentralized exchanges and in the article That's going to be releasing we go into bento box We go in a miso these are new projects that are all under the same token sushi They're owned in the same ecosystem with that's going to be lending That's going to be a sort of an IDO type of system and people are sleeping on sushi in my opinion And they're going to wake up soon and the investors can now hold it in their IRA Before the world even knows what's really going on See now I was cuz I was wondering like why did voyager list sushi? Why are these people places listening to you now? I know all right cool So that's a little insider information. Well, not insider, but thanks Anthony And then lastly, I'll just say this also on top of that for all everybody likes gold and silver I personally like it myself. I own gold and silver in my IRA and you can do that and I believe it's It's stored in the room. Yeah, it's stored in the Royal Canadian Mint. So if you're into precious metals They've also got that yeah, definitely That's it. And so everyone just needs to get on, you know, go to the website use promo code Dan d an, you know Open up an account. It's a free account Until you fund it right after it has the small monthly fee, but you can just make a free account take a look at it For the investors who are in this long term or even mid term and they want the tax advantages It's huge. Yeah, it's huge and then I did a complete walk-through video. It's about 18 19 minutes or so I'll link at the end, but Anthony any final words of wisdom for the investors out there and the crypto lanes I'd say keep listening to Rob slash Dan if you want to do good. That's it. I like that. All right, everybody So that's it Anthony. Thanks for stopping by. Let's jump back. All right So I hope they'll made a lot of sense makes more sense to me. So Anthony Thanks for coming on also if you're looking to start a an IRA just click in the link There's a link in the description below I do a just a quick video and talk about what the difference is between a traditional asept And a Roth IRA is who is who we can actually start these up and how it all works So check out that link in the description below and that is it for today So first of all, thanks for sticking with me. It's a little bit longer But a lot of things going on if you liked the video found some value give it a thumbs up I'll consider subscribing. I think we talked about our very time sensitive. That's it for today. Thanks so much I appreciate it and we'll see you in the next one