 Welcome to Digital Asset News, the good top stories in cryptocurrency and digital assets and bring them down to bite-sized pieces today. That's pretty interesting stuff. First up, more people are moving Bitcoin to centralized exchanges as addresses in profit hit an all-time high. If you know anything about history, that is not a good sign. Also, the price of gold hits an all-time high. So it looks like there is good points on the traditional market and on the cryptocurrency market and why I think that gold and Bitcoin are going to be best friends. And finally, the cost of all the success, there is a downside. That is that as Bitcoin surges 15% in 24 hours, 500 million in liquidations happen. You can't win them all. And finally, we'll go over a scam of the day at the very end of today's stories. But first, let's jump into what's going on with the days of market. So it's a good day. I mean, hey, it's July 28th. It's about 11 o'clock, Texas time, and things did not drop too precipitously. Looks like Bitcoin for the week is up 20%, which is amazing, right? 0.5%. It's right below 11,000. I know we touched around 11,000 to 11,000, somewhere around there. So hey, I was expecting a much bigger drop. It did drop, but not as much as I thought. So hey, that's great. Ethereum still remains above 300, which is fantastic. I was excited at 244, and here we are at 315. So pretty great day, up 33 or 34% for the week. Tether's Tether, XRP. Although I will say this, XRP is up 16% for the week. So let's give the XRP Army their due. Congratulations. Not too bad of a week. Bitcoin cash is up massively. 30%. Cardano is up again, 3.6% after not only is the mainnet launch happening with Shelly, but there was a lot of different things going on over the weekend. Programmers were looking at the code and the mainnet itself and doing a lot of testing, and they actually gave it the go ahead. So everything is going along smoothly, which is fantastic news for Cardano. Bitcoin SV, excuse me, up 28.4%. Litecoin up 34%. I know there was an article about Grayscale doing something with Litecoin offering it to their customers, so that could be a big part. Binancecoin up, crypto.com up, down a little bit, what are you going to do? And then Chainlink, good to see 6.5%. So it looks like everything is up across the board. Not really too many down slows, so it looks like a pretty good day for most, except for Ampleforth. But hey, what are you going to do? It's a massive run. So everybody, hopefully you're in the green. Let's start off with today's big top story. So first up, more people are moving Bitcoin to centralized exchanges as addresses do a profit all-time high. What's going on? Well, the last 24 hours Bitcoin addresses and profit have recorded an all-time high average of $26,054,215, which breaks the previous record of $26,415,25 when 2018. So that's good. There's a lot of Bitcoin addresses that are actually in profit, meaning that they weren't like me back in 2017 when bought massively high and then had a different problem. So a lot of people out there are in the money. However, that's not good, and we're going to see why. So Glassnode also noted that the number of Bitcoin inflows to centralized exchanges has started to increase significantly after Bitcoin reached and fought to stay above yesterday's sentimental $10,000 level. So if you know, if you've been around cryptocurrency for any length of time, you know that usually a bullish sign is when people take their money, their cryptocurrency assets off of these centralized exchanges and hold them on to their cold wallets, like their nano ledgers. That's good because they can't sell them. They just want to sit on them for a while. But the opposite is true. When I started to swing everything back in the way of the exchanges, that means that they are going to, and I hate to use the word dump. It's not dump. They're there to sell, they're there to take profits. Look, people have families, people have bills, people have things to pay. And, you know, these things have to be done. And so if you're going to take profits, I got nothing against you. It's just that's what that's just what it is. So I will say this was this was a little trick from Mr. B that I picked up a long time ago. And I talk about that in the exit strategy, which is don't use round numbers if you're going to sell. If you're going to sell a 10,000, everybody's going to sell a 10,000, right? You're going to sell a 15. Don't put the limit order as 15,000, but it's some wacky smaller number. So you're guaranteed it. So like for my exit strategy, I'm going to sell at 20,000. I'm going to sell not all of it. I'm going to sell a portion of my, of some of my holdings for Bitcoin. Very small. And I'm going to sell at, I think it's like 19,276 dollars, or something, something innocuous. And the reason for that is because everybody's doing the same thing. Everybody's trying to sell at 10,000, 15,000, 20,000, 30,000. So be a little bit different and be the first one to sell. And then maybe you don't get caught up in the rigmarow or in different problems of sometimes they don't get filled. So that's a little trick that I've picked up. Anyhow, moving on the article, Adderson profit above 83 percent. This represents the biggest movement since the time of the third having. And it states Bitcoin inflows and essentialized exchanges have started to significantly increase. We are currently seeing the largest hourly net flow spike in over three months. So if you don't think that the price of Bitcoin is going to go down, I think that just is my personal opinion. I think you might be a little mistaken. I think that it's going to go down a little bit. I think it's, you know, over time, we're going to fluctuate. Obviously, we can't go up forever. And that's the problem with new people. So if you've been in the space for a while, you have ice in your veins. There is nothing really affects you that much. I'm sure because you've been, you know, the big swings, you know, losing 50 percent in a day, 40 percent a day, going up 100 percent a day. And it's not a big thing. So if you have any family members, friends, love ones who are getting into the space right now, just sit them down and say, look, this is what's going to happen. OK, rookie, these things are going to go up massively. They go down massively. You just have to not let it affect you. So as people come up to you and be like, hey, what's going on with this Bitcoin cryptocurrency? Just tell them, hey, this is how it goes. So just grab some bench and sit back and enjoy the ride. Lastly, it states in late June, Glass known report that Bitcoin addresses and profits had reached 83 percent from 43 during the Black Thursday in March. God, they sucked. And this means that currently more than 80 percent of Bitcoin addresses have Bitcoin bought at a lower price than what they are worth right now. So it's really just repeating the same things over and over again. So I would just say I'm hope I'm hopefully optimistic that Bitcoin price will go up. But I do think there's going to be some people who are going to sell and the price will probably go lower before it just rebounds. So the last part here, another development that could push Bitcoin price over the roof is a new report published by Bloomberg senior editor John Authors, in which he wrote that there's an imbalance in the gold futures market, which could potentially affect other markets. So I look at that as like, what's all this in? Take a look and the article states a mighty short squeeze may be building in gold. So an increase in demand for physical deliveries could trigger a parabolic rise and cause problems for banks. I actually heard about this a couple of months ago. People in the comment section were saying that you could not get physical gold. It was like impossible. And they were just kind of dumbfounded that the price of gold was being so stagnant. But here we are and you can't find gold anywhere. And there's a problem with that. So when you have a ton of demand and the supply isn't there, what usually happens, things go up a lot. And I think the same thing is going to happen for Bitcoin and crypto. Now, just like I said, people are going to sell because they got to pay for bills and I do all these things and waiting for a long time, let them sell. Just do if you want to do what I do, I just dollar cost average. And I just sit back and I pay a little bit of money every every week or every day for some and I slowly accumulate. And as things go up, I'm not so concerned about it. I'm like, well, you know, I got to tell you this bull run is the first time I really felt like I don't care if it goes up to the moon or it shoots back down. I've got my positions. I'm pretty happy. I didn't feel like I missed out. Like I didn't buy enough or do enough or do everything else because I've done all the things I was supposed to do. Just dollar cost average didn't go crazy and go all in and all that nonsense. But again, with this, I think with gold, you're going to see a big rise. And I think the same thing is going to happen for Bitcoin and cryptocurrency. When you have a lot of demand and the supply is kind of running out, what happens? Price goes up. And I think Bitcoin and gold are going to be attached to the hip just like it talks about here. So this is from CoinDesk. Zach Vole, the price of gold reaching all the time high of 1942. Extending a rally that started in 2019. This is this is the strange thing, though. Gold's previous record high of 1924 was reached on. Check this out, September 6th, 2011. September 6th, 2011. It's been roughly a decade. I'm not a full decade, but roughly a decade, nine years or so, to give back that all-time high. Can you imagine getting back to the all-time high of Bitcoin to 20,000? So we'd have to go from 2017 to 2027 to hit 20,000. I do not think that's going to happen. If you think it's going to happen, let me know in the comment section. Then you know something I don't. But that would be insane to think about. And that's the difference between traditional markets and cryptocurrency assets. We don't wait that much time. So anyhow, it says Bitcoin often viewed as digital gold, sort of 11.4 as a style of cryptocurrency keeps pace with gold. And it's gained more than 30% in the past 24 hours. So again, I've said this before and I'll say it again. I think the new savings account is Gold Silver Bitcoin. I think that is going to be the new standard. I don't think your savings account should be a ton of money that's just sitting there depreciating. So Gold Silver Bitcoin seems like a pretty fair bet to me. The real question we have to think about, though, is in all honesty, taxes and how we have to pay for all these capital gains because it's going to be big. Just my opinion, let me know what your thoughts are. Let's move on. So next up, the cost of Bitcoin searching 15%, 24 hours, is $500 million in liquidation. So I am not a trader and I don't begrudge anybody who trades because that's your thing. That's not my thing, that's your thing. And if you're in the money today, congratulations. You did all the things you were supposed to do, fantastic. But let's not forget that there are people out there that just lost their shirt and pants and underwear and socks. And that's just how it goes in the trading world. But that's what you guys sign up for. So it says, according to CryptoTrader, we're 500 million worth of Bitcoin short positions liquidated across all Bitcoin derivatives platforms. And the trader came up with a list of Binance, 126 million, BitMEX, 124 million, Huobi, 102 million, OKX, 95 million, BiBit52, and I've never even heard of this, Deribit. I have no idea what that is, $13 million, I guess in exchange. Another trader noted that around the same time, that nearly $740 million worth of Bitcoin short positions have been liquidated over the past two days, which adds to the 210 million worth of long positions that have bit the dust due to rapid pullbacks. So yeah, if you were, look, everybody who is a trader is a genius when everything goes right. But when things go wrong, it's hard to hear from them. But I will say this, that's a lot of money lost. And my sarcastic question was, does Bitcoin move in the opposite direction of the contracts? Because it seems like, especially on BitMEX, it seems like when these shorts or longs, whatever is the most, the exact opposite happens and then it gets liquidated and who makes all the money? That's the question, who makes all the money? Anyhow, states here, longs are overextended. Despite the extreme strength and the price of Bitcoin, there are some that think longs are getting overextended. As reported by Bitcoin as previously, one analyst commented that Bitcoin may not yet be bullish due to the high funding rates on all futures platforms. The funding rate is the fees or the fee longs pay shorts to keep the price of the future close to that of the index and spot market. And as soon as the price has broke 10K, fundings have skyrocketed across all exchanges and this is not a bullish sign. As of the time this article is writing, longs are paying shorts 0.1%. Every eight hours on BitMEX, think about that. Every eight hours, you're paying 0.1% across everybody. So this doesn't sound like a lot. Tell you the rules that these markets are leveraged and some of these markets are like 25X, 50X, 100X, meaning one's position can be chipped away over the course of a few days. And lastly, it states more liquidations on its way as Bitcoin may rally higher. So if you are in that position of a short position, you're like, no, no, no, Bitcoin's gonna go way down. And it rallies big, all that money's just gone like in the blink of an eye. And that's why I don't trade because I don't have the stomach for it. I know people say, well, I like the trade. That's good, then trade, have fun. I just like, like people, they'll always say to me, you know, tell me, well, you should know these things and you should try to trade and I don't wanna trade. I don't have the stomach for it. I got a lot of the other things going on. And I just like the, I like to sit back and just see all the fruits of the labor of just being patient. It's like Marcus Aurelius and being stoic. You can just sit back and just have a stone face and just go, this is what I'm gonna do. This is the plan and I'm gonna follow through with the plan. And sometimes, you know, the plan works and that's really about it. So that's it for those stories. I do have an interesting story at the very end. This is gonna be a shorter video. Finally, under 20 minutes, right? But this was from Yahoo Finance and with the different helicopter money coming in and we've seen reports that that's going to happen in the United States. I don't know about Canada or Mexico or Europe or Australia, but in the U.S. there's gonna be another round of stimulus coming about and it looks like it's gonna be the same thing per Steve Mnuchin, the Treasury Secretary. Looks like $1,200 for everybody. Unemployment, benefits may actually be slashed and the PPP, the Paycheck Protection Program, all right, probably be the same thing, maybe a little bit less. But here's the thing about just doing, just do the right thing and you won't get in trouble. And it states here, he got $4 million in COVID-19 relief loans. This is from the PPP, the Paycheck Protection Program. He's a business owner. And what he do, he bought a Lambo, what a moron. So one of the things David Hines bought when he got $4 million in COVID-19 relief from the federal government for his supposedly ailing South Florida moving business was a super luxury Lambo Huracan Evo. I don't know how many knows what that is. I'll never get one authority say. And then it just pretty much goes into like what this guy spent on and it was just ridiculous. So if you want a Lambo, go ahead and grab that. But just wait till after the parabolic bull run. Don't try to take the money from the government because the government always wins. That's really what it comes down to. All right, so that's it for today. If you've got a time, stick around with me. I wanna go over Scam of the Day. There's actually some good news and we'll go over what's going on. So if you're not familiar with Scam of the Day in the description of every one of my videos, there's gonna be a link, it's gonna look like this. When you click on that link, it's gonna take you to this handy-dandy spreadsheet called Scam of the Day. And we started this because I was sick of people getting screwed over. And I just added in, there's a good story on Medium.com from Whale Alert, which if you're familiar with Twitter, it's an API and it tracks all these different things as far as the movement of massive amounts of cryptocurrency. And they're also able to track all the scammers and they said that, hey, these YouTube scams seem kind of not too innocuous and there's just a blowover and nothing big, but they've stolen over 130,000 per day. And I think it's over 270 million dollars, something crazy in just 2020. Not 2020, I think it's like 27 million. But you have to read the story, it's just awful. So if people say, well, how would people fall for that? You have to understand, you've been in this game a long time and you've seen things that a lot of people haven't seen. So when the new people come in, they're like, well, I don't know what this airdrop is. Maybe this is an airdrop. Cause it sounds like Elon Musk has given away free stuff. Maybe that's what these people are talking. I have no idea, maybe that's an airdrop and they just lose their money. So what do we try to do? Well, two things actually. First, we wait for the Ripple lawsuit, which is going on against YouTube. And also the new one with Steve Wozniak or Woz, the co-founder of Apple, his new lawsuit. We wait for that to get ponied up and see what YouTube's gonna do because they're on the hook for all those scams. Now we can do about that, but what we can do is we can downvote and report these scams and we can, I can make everybody aware of what a scam is. So first things first, the latest scam, let's take a click, let's take a look. And this is what we wanna see. This video has been removed for violating YouTube's community guidelines. So if you'll notice here that for the date found, you're gonna see a lot of date founds, but on the right side, date removed, that's when they all got taken down. So thanks everybody who's done what I asked, which was just downvote and report. And there's always, and I think the reason why this one was taken down is because it was used as an advertisement. But there's one, which I don't know if this one's still up, it probably is, and sure it is. So this Mellonhead, he's got a channel with whopping two subscribers, but he's got a lot of views, 2,600 views. And I can guarantee that I was 2,600 views, he scammed somebody out of some money. So let's get him. So what we're looking for is, first of all, don't take my advice because I'm just some guy, right? You gotta do your own research. Is this a scam? Well, Digital Asset News said it is, but who's that guy? Extreme Rapid Payments says yes, I'm kind of an FBI, who's gonna fall for this? So there's a lot of, maybe these people are just haters, right? Maybe Kay Newman, Newman is just a hater and she hates guys with enormous heads, I don't know. But for what we're looking at here is that that is just one signal. What we really wanna look at is what I call an asymmetrical giveaway. So what does that look like? So in the video itself, which was very slick, I must say, is it says, hey, to verify your payment address, just send 1,000 to 10,000 XRP and I'm gonna send you 10,000, 100,000 back. And he actually goes through the whole process and then it looks like his wallet's got 100,000 XRP. He's like, woo, that's great, but that's stupid because no one does that. If you don't think so, if you need hard proof, reach out to Ripple, go to their official website, send them an email, it takes about 24 hours to get back and say, hey, are you guys doing a free giveaway? Because there's this monstrous melon guy that is doing this giveaway, is that true? No, if you think that Microsoft's giving away free money, go to Microsoft and say, hey, I saw Bill Gates, is he giving away free money? No, if you think Binance, if you think Coinbase, think anything, just go to the official website just to prove it and that's it. So the biggest advice I can give you is treat everything as a scam unless proven otherwise and you'll be a lot happier. So let's just say this is a scam, all right? So what do we do? We're gonna downvote it, like I've already done, click on these three dots, get a report and we're gonna say this is spam or misleading. We're gonna choose one, it is a scam or fraud. We're gonna click next, I'm gonna say Ripple does not give away free coins unless it's to their co-founder, just kidding. And that's it and you say this is a scam, this is a scam and you're gonna report and that's all you gotta do. So just to figure out, just to click on it and actually downvote and click on it, probably takes about 30 seconds and that's all I could ask for. So if you do that, I'd be much appreciated and that is it for today's video. So if you like those types of videos, it's gonna be too much, it's gonna pop up on your left and right. Not sure, because YouTube is responsible for that algorithm, I have nothing to do with that but same type of thing, learn about crypto and digital assets and that's all for today. So thanks for watching, really appreciate it. See you on the next one.