 Welcome to Digital Asset News, the top stories in cryptocurrency digital assets, man breaking down to bite-sized pieces today, a lot of stuff to go over, so let's jump right in. First up, strategist who called Bitcoin's biggest crash says he just exited crypto market, here's why. And it's not only the crypto market, he's out of all the markets all together, and what he's going to say is going to blow your mind also. Tim Draper jumps off of Bitcoin and goes for Bitcoin Cash, a recent tweet has Tim Draper, the billionaire investor, talk about how easy it is to use and buy Bitcoin Cash. Interesting. And finally, there's a brutal blow to miners, Russia's new draft law will ban crypto completely and prohibit miners from receiving rewards. And actually it's a little bit more tricky than that and we'll delve right in. And before we jump into the market, just want to say thanks everybody for watching yesterday's video. We're able to donate to Dog is My Co-Pilot, which allows this pilot to take dogs who are in high kill shelters and transport them from one city that has a high kill shelter to areas that have absolutely or very minimal dogs and cats so they can be adopted. So thanks so much, really appreciate it. And we went ahead and donated $50 yesterday, so fantastic. So as time goes on, it's a pretty worthwhile charity. So as we have more people watch the videos, we'll donate more to this fantastic charity. All right, let's jump into today's market, see what's going on. So it is September 4th. It is 12 o'clock, high noon in Texas time. And what do we got? Well, another bloodbath. So Bitcoin down again, 2.9%. Although I got to tell you yesterday, I think it slipped to like 10-2. So the big thing is that it did actually hold the 10,000 mark. And that to me is a psychological barrier. Other TA people will talk about it as a support. But for me, I just think once it slips below 10, anywhere in the nine range, just expect to go all the way to nine, maybe even to eight. So just letting you know, that's what I think. Ethereum, unfortunately, also went below the nice 400 range. And here we are at 382, but holding up not too bad. Tether's Tether and XRP, watch out, 25 cents. Chain link still down 10% at 12.25. And you know what we should really talk about is what's up because everything else is down. Although I will say this, Polkadot was up pretty big yesterday. I think it was like 620. And it's dropped about 20%. And when Polkadot first came out, I think it was around $293 somewhere around that. And then it rocketed up to $6. And people are like, I'm going to FOMO, and I'm going to get in there. And I always think it's best to dollar cost average. And I can just tell you right now, I am going to increase my dollar cost average for today because that's at $497. So why wouldn't I buy it now? I think it's going to go pretty well. That's what I'm going to do. Thankfully, I didn't dump everything at the very beginning. Anyhow, Bitcoin, cash, Litecoin, everything's down, so on and so forth. EOS up 3.7%. Fantastic, don't know why. But hey, here we are. And 13%. What else is up? Wow, 17%. Yurn.finance, the darling down from I think at the high was like 36,000. Now it's at 26, maybe 34,000 somewhere around there. Now at 26,000. Man, that's crazy. Compound down, synthetics, everything's down. OMG Network is up, 6.3%. I'm thankful that OMG is stepping in to help out with the Ethereum transaction fees. Hopefully they can do some great things. So I'm really excited about that. And what Ethereum Classic? Down 10%. Here's the thing about Ethereum Classic. It had a 51% attack. This was the third time in like a very short time frame. And it only goes down 10%. Whatever, that is the cryptocurrency market. I don't understand. I will say this. Alex Maschioli over at his channel is going to have the director on. And he's already told me he's going to ask her the question of what are you guys doing to actually stave off these 51% attacks? And why are you actually still up in the markets as far as what it is? So I'm excited for that one. I'd like to see what she's going to say. You don't know Alex Maschioli has a bunch of heavy hitters in the space. I like to watch it because it gives me a peek into what smart money is doing. And he is one of the few people that I actually listen to on a regular basis. In the description of every one of my videos, you can find the YouTubers that I actually recommend. Alex being one of them. Crypto Noobs. Crazy for cryptos. Unchained with Laura. And Guy from Coin Bureau. Those are pretty much the ones I listen to a lot. So check that out this week because I'm definitely going to watch that. All right, so what else we got? 13% I mean, everything's down across the board. DigiBytes is up 10%. Congratulations to all the DigiBees for holding on to that. I got to get some of that. Who knows what DigiBytes could do? Who knows? All right, let's jump out of here. What I want to do is I want to shake it up a little bit today. I want to start with Q of the Day because it's a sentiment that I've been feeling as far as what people are saying in the comments section. So let's just jump in the Q of the Day and then we'll get to today's top stories. Hello everybody and welcome back to the office for Q of the Day. So as you can see, I'm wearing my favorite shirt, which I'm modern to samurai. I always like to make fun of me for wearing this shirt. It's a good looking shirt. It's like a pink or a fuchsia or something like that. Anyhow, so the Q of the Day. It really wasn't a specific Q of the Day per se, but I was reading all the comments from yesterday's video. And if you didn't watch it, we just go over the one trillion bonds that have been bought up by the federal government for mortgages and for the real estate market and how that is probably going to collapse in 2021. On top of all the quantitative easing and all the different issues that are coming up, someone's got to pay the piper and I think it's going to come due in 2021. So I see it as not a great thing, but it wasn't a specific question, but it was like the sentiment or the overall overarching feeling of the actual comments. And one of the comments was, well, should I take everything out? Or should I dump a bunch of money in? Or should I just start selling off like crazy because the big, bad, monstrous thing is going to happen very soon, so what should I do? And the answer is I don't know what you should do per se because I'm not a financial advisor, but I'm just going to tell you what I'm going to do. And it's the same thing that I talked about yesterday, which is I'm just going to hold and let it all go through and see what happens. But the big thing was about dollar-cost averaging. And I keep getting questions about that, dollar-cost average, probably because there's so many YouTube channels that tell you to, you must trade and you must leverage 50 to 100x and everything else. And that's fine if you want to do that and listen to those guys and everything else, but I'm not that guy. I just am not that guy. So if you want a dollar-cost average and actually constrain some of your different costs that you're having as far as what you're buying, I think now is the best time to do that. I'm going to tell you why. Here's a prime example from me and my screw-ups, depending on how you look at it. So I bought XRP when it was super high, somewhere on the $2.80, $3 range. I know what you're probably saying, ouch, well, you're right, because it does suck. It sucks because you bought it super high and now it is at 26 cents, 24 cents or something like that. So you look at that and if I sold right now, it would be a pretty massive loss. And that's okay because that's what we signed up for. And actually, if I did sell it, it would be a massive loss and I could take that on my taxes, so it wouldn't be so bad. It would just kind of suck and I'm stubborn and I don't want to do that. But if you buy at a certain price and it's super high and then you have it at super low and you believe in the project, that's the key thing. If you believe in the project, not like in 50 years it's going to go up because who cares about that, you're not going to be alive anyhow. Maybe for your kids, your grandkids, I suppose. But if you believe that, hey, this project is going to massively go up very soon or whatever time frame, what you really should do is start to buy even more of that same item and not you should do that, but that's what I should do. I should, in all honesty, if I wanted to really come back and increase my position, I should buy XRP right now because if I bought it at, let's say $3 and then it goes on a 20 cents. Well, if I buy a bunch of it at 20 cents, now my average cost is in $3. My average cost is somewhere in the dollar range if I buy enough of this 20 cents. So let's say I have $1,000 at $3, right? So let me do some quick math here. Three times 1,000, 3,000. Okay, so I got 3,000 and then I buy a bunch at like 20 cents. Let's say I buy $1,000 worth of 20 cents. Well, now my average cost is going to go down. And when XRP starts to actually get up to like that $1.20, $1.30, $1.80 range or whatever it is, I can actually sell for a profit. So if you think about it like that, I mean you can dollar cost average in right now because everything is going down. Now here's the problem with that. The problem with that is your own mentality. Everybody's mentality actually that even myself. Like even I look at things and I'm like should I really buy into that? And there's this part of our reptilian brain that's a fight or flight. And we look at things that are going down. And of course we just think to ourselves, I don't want to be there because that is a loser of position. That's not what I should do, but it takes a lot of time. And it doesn't just happen like that. It's not like pro athletes, I mean some pro athletes just become, they just are fantastic and they are just built for that professional level. And most of them, 99%, they have to train and train and train. It's the same thing with looking at a position that's going short and saying to your, not some positions going short, but positions that are going down in price and going you know what, I need to buy there, I need to buy there, I need to buy there, I need to buy all the way down here because that's the best opportunity. So if you're a little bit right now on the sidelines, and even myself I take a look at things and I'm like, should I really buy that stuff right now? And you just have to remember, where is this market actually going? Do you think it's going to go away? Do you think this is a flash in the pan? If you do, I'll tell you advice, you should get out right now. Because it's going to get even more rocky, there's going to be even more violent swings, it's going to go up massively and it's going to go down massively. So if you don't really believe where things are going, it's time to hightail it. Grab some bench and get the hell out. Because there's no reason for really for you to be here. However, if you've been around a long enough time or you just believe that this technology is going to take over and it's going to swallow the internet hole like Alex Pashinsky talks about, then this is the perfect time. This is the perfect time for you and me to buy up these assets because it is a fire sale. People always talk about it. I remember back in 2017, 2018, it used to piss me off so bad when people would say, oh, it's a fire sale, it's a fire sale. I'm like, are we looking at the same thing? I just lost a ton of money. And the reason why I thought that way is because I dumped so much money at once and I didn't dollar cost average. Now I totally get it because I've been dollar cost averaging into everything that I've ever done and I'm up. So when you're up, you have that ability to just go, look, do this. Let's get this done. I know what I'm doing. That's it. So that's really all I got to say. So how much do you think about in the comment section below? Let's jump back. All right. So that's what I see. So what's going on in the greater cryptocurrency space? Well, this was a story from Daily HODL strategist who called bitcoins biggest crash says he just exited crypto market. And this is all about Peter Brand. I know if you are an XRP holder, you hate this guy because he always trashes XRP. And I mean, look, he's been around for quite some time. He knows what he's doing. He's an excellent trader and I won't take that away from him. However, once we learn what he says, I'm going to rebut some of the things he talks about and I'll explain it a bit. Anyhow, Peter Brand of the global trading firm Factor LLC says he's selling most of his portfolio in stocks, the foreign exchange market and Bitcoin to move into the US dollar. And this was a question that he got in Twitter from CryptoJ who was just asking about like what he really does and Peter's like, I don't understand, but I'm just going to tell you this. Personally, I exited almost all of my portfolio in the last two days, stocks, forex, Bitcoin. So in a process, moved assets back into home currency, USD. And the reason is he thinks the US market bubble is in its final stage right before its pops. He states, this is what I believe about the US market. Fight the Fed at your own doom. Getting bearish, too early can wipe you out. Market and final blow off to 12 year bull market. Bubbles can expand further than anyone expects possible, than burst tragically great profits in final push. And that's what a lot of the different analysts have talked about lately, about how this whole bull run is going to end and everything's going to collapse in a tragic fashion. But there's one thing about Peter Brand that people have to remember is that he will always change his position depending on the information that he gets. And he freely admits that. So tomorrow, some piece of data could come out that could totally reverse his whole decision. And he's done that for other different times. I remember in March, where he pretty much said that Bitcoin was going to go to almost a zero. And he's always said, because they got 100,000 or almost a zero. And I asked him, I sent him a tweet to go, and this was, you know, back in March and he's like, yeah, I think it's going to go the other way. And he's going to go very far. And when I hear these things and when you hear these articles, you think to yourself, oh, this guy is totally getting out and he's never going to come back. And that's his position. So I need to make it very crystal clear. Peter is a trader, a very good trader. And what he's going to do is listen to all the information, look at all the data, all the analytics, and he's going to make a decision. Could this totally 180 tomorrow? Probably not. But could it happen in the next week, two weeks, three weeks? Yeah, definitely could. And like I said, Peter is the guy who will totally tell you what do you do when you get new information? You change your position. So when I see these types of articles, I'm not really that concerned. It is sensationalism and it is fantastic. And it kind of leads us into, you know, a little bit more of a cautious state. But you have to understand, just take it with a grain of salt. Are you a trader or are you an investor? Like we just talked about in Q of the day. That is the big thing. Where do you think this market is going? Honestly, if you think it's going to go to the moon, just hang around. Things will change. And if you're talking about traders, like this is another article that I pulled up from MarketWatch and the same type of thing. They're saying, you know what, it's going to get bad. But just ride these two winners and you should be OK. And this is from Jeffrey Haley, the senior market analyst at Oanda, Asia Pacific. And he says, investors should just focus on Apple and Microsoft for Apple. All the services service business has been a rock of Gibraltar for CEO Tim Tim Cook. Now the drumroll shifts to a massive pen and demand for smartphone upgrades heading into its iPhone 12 5G supercycle. Slate of cycle. And he just talks about how great things are. I don't want to bore you. But so it all depends on the different analysts that you listen to and what's going to happen. Do I think that things are going to turn Rocky? Absolutely. We talked about this yesterday is one of the indicators. Trillion dollars in housing bonds bought up by the Fed. And not only that, but the Fed is the biggest buyer of securities right now. So they hold everything and they're just printing money and it doesn't really matter. So well, well, it does matter. Let's be honest. So we will see how it all plays out. But again, do I think things will get Rocky? Yes. Do I think that cryptocurrencies and digital assets are here to stay? Absolutely. Do I think that will swallow up everything? You betcha. But sometimes you got to go through a little bit of pain to get to the pleasure. Next up. Oh, how times have changed. So Tim Draper just bought a tweet today, 10 a.m. And he talks about, hey, I recently purchased some Bitcoin cash. So easy to buy and use. Go to bitcoin.com. Thank you at Roger of your cash for this innovation. Hashtag Bitcoin, hashtag Bitcoin cash. I got to tell you, Tim Draper has been an OG maximalist. I mean, a Bitcoin guy for the quite, quite a long time. I actually shouldn't say that he's not a Bitcoin maximalist because he talks about a lot of different other altcoins. But he was one of the first that really got into Bitcoin. And I think it was 2013, 2014, when he bought up millions of dollars worth of seized Bitcoin from the US government. And he bought it for like next to nothing. And now just another just another billion dollar pocket change that Tim's got. But I do like this guy. I mean, I think he's got a lot of information in there. So when he comes out and says, hey, Bitcoin cash is so easy to buy and use, it's a little, it just leaves a lot of questions. We'll just say that. So does Tim believe that Bitcoin cash is really easy to use and buy? Probably. I mean, right now, I got to tell you, it's a hell of a lot faster than Ethereum. I'm going to tell you why. So I've been talking about this website called TxStreet.com. And it's like a nice little graphical representation of all the different transactions that are going on. And you can look at Ethereum, Bitcoin and Bitcoin cash. So right now the median fee is only 464. So thank goodness for that. Hopefully OMG is taking over a little bit more. But you're going to see like all the different things like Tether, Uniswap, Maker, Kiber Network, Curve, ZeroX, Compound, all the different ones that are different transactions for really DeFi and what is going on. So there's a lot of transactions going on right here, a lot of activity. So if we take a look at that, we'll take a look at Bitcoin. And with Bitcoin, you know, it's every 10 minutes, a transaction happens. So look at that station. It must be just about now. So wow, it's a lot going on. And then we take a look at Bitcoin cash, cue the violin music. So yeah, that's a sad state of affairs. What are you going to do? So yeah, I believe you, Draper. I believe that what's this? Two years ago, I post that in a problem hadn't been solved. We had a Wednesday of trust. Wow, that's interesting. I never snipped it before. So anyhow, Draper, you're right. It's super fast and super easy because it's nothing really going on. However, don't let yourself just sleep just yet because there is going to be a hard fork coming about between Bitcoin cash and the two different factions that have appeared on one side of Bitcoin cash. They think that there should be an 8% fee which should be charged to all the miners, which will be put back into the project itself to help it grow. And on another side, I think it's AABH. I always forget it. Correct me. Correct me in the comment section. I know I'm not right on this one, but another one got the name. They're like, no, no, no, we're not going to charge anybody a percent. You know, forget you. We're not going to have this. And it's become such a thing that they're going to split off and it's going to be a hard fork. So we'll see how that happens. You know what I need to do? I need to get somebody from Bitcoin cash to come on this channel and explain it all to me because that would be interesting. But Draper, you're right. Super easy to use because there's nothing going on. One thing I will say about Tim Draper. He knows how to make an entrance and knows how to put out a nice, juicy tweet. However, I don't think he's really good at tagging the right people. Thank you at Roger Verkash is not Roger Veer. It is a retired doctor and current philanthropist pilot and training born and reside in Florida and escaped to Australia during winter. Don't think that's Roger Bear. So anyhow, it's OK, Tim. My Twitter game is weak as well. And last up, brutal blow to miners. Russia's new law will ban crypto completely and prohibit minors from receiving awards. This is a very twisted comments or title for a story. I'm going to tell you why. So according to September 3rd, report by local media outlet is Vestia, Russians Ministry of Finance has submitted a new draft for interdepartmental approval, which will make it unlawful to receive crypto, such as Bitcoin and Ethereum as a reward for verifying transactions on the blockchain networks. Crypto mining activities in Russia will not be deemed illegal. However, receiving minor rewards would be forbidden. So you can still get paid and you can still do it. You just can't get paid in cryptocurrency, which that's strange, but whatever, Russia's Russia. The bill, however, mentions three unique scenarios in which Russians would be allowed to receive digital currencies, inheritance, a receipt of crypto and a bankruptcy and his compensation after winning a legal proceeding. So again, Russia's Russia, I don't understand why they're like, well, you know what, screw you, miners. But if you get, if you go to the courts and you win a legal proceeding or some kind of bankruptcy problem, I don't get it, but whatever, any of the transaction involving cryptocurrency would be seen as an offense punishable by law. In particular, Russian citizen found transacting in crypto will be fined 100,000 rubles, which is about 1300 bucks and serve a seven year jail term. And they're not playing around. Legal entities may be slapped with a fine of approximately one million rubles, which is around 13 grand, but 70 year jail term, that's kind of crazy. And lastly, it says, unlike other countries across the globe like China that are already developing their own digital currencies, Russia's central bank is not too keen on issuing its own national digital currency in the near future. And I believe that part because in Parliament from Russia, from what I understand, there's corruption going on. Hot news flash, which happens in every government. Hot news flash again. But these central banks, they seem to play a pivotal role in Russia, just like central banks play a pivotal role in America and other places. Let's let's not let's call a spade a spade, but I think more so here. And there is like this dynamic between Putin and Parliament and the central bankers. And I got to tell you, I put my money on Putin. I'm just telling you. But I will say this, Russia and China are trying to get away from the US dollar. So I think the easiest way to do that or the most complete way would probably to make their own CBDC and then start to a transaction with all the different other countries, such as China and the European Union. I don't know why they wouldn't create their own CBDC, especially if you could transport everything around as easy as it is. I just don't understand why they wouldn't want to do that unless the central banks are fearful of losing power. Ding, ding, ding. That could be it. But who knows? Let me know what you think of the comment section. And that's it for today's video. So lastly, I just want to say that there is a join now button underneath. If you want to join, you don't get anything special. It's just like a buck nine nine like a tip and I just do random shout out. So random shout out for the day. Doug Lemley, Melissa Davis. Who else we got? I'm going to try this one. Horvoche, so which I think I nailed it. William Howell, where are we? Johnny Bitcoin, Jimmy G and Barry Belasco. So thanks for everybody who signed up. I really appreciate it. If you like those two types of videos, there's going to are those two. Those type these types of videos and me too is going to show up on your left and right. Go ahead and check them out. And that is it for today. Really appreciate it. And I will see you on the next one.