 Welcome everybody to the live stream. Do not adjust your sets right now. Yes I'm in a green screen pool and the reason I'm in this pool is Because I have a herniated disc and I cannot stand up So the best place to do these live streams from now on would probably be in this pool So before we get going because there's gonna be a lot of things we're gonna go over first of all let me know how the audio sounds using a new microphone obviously because I'm outside and Let's see how it actually sounds before we move on to the big story, which is Michael Saylor and the things he talks about as far as custody and I can tell you right now That this is gonna be a very divisive Topic that we talk about because of the what people believe to be true, but I'm gonna tell you there's a big difference between what Should be and what's gonna be so Let's just jump into it. Shall we and this is what Michael Saylor said This was on Squawk box and I posted this on Twitter month. We're gonna read some response and go from there So just just take a listen For the industry to move to the next level we need to migrate To adult supervision. We're gonna need big banks to become the crypto custodians We're gonna need Wall Street to take a role and we need to rationalize away from the 100,000 crypto tokens, you know, yo-yo coins that people are manipulating to Bitcoin Bitcoin is that is an asset without an issuer. It is the one universally recognized protocol That's a commodity in the space. So When banks on Wall Street and responsible custodians are managing Bitcoin and the industry takes its Eyes away from all of the shiny little tokens that have distracted and and demolish shareholder value I think the industry moves to the next level and we 10x from here for the end I gotta tell you I like that part 10x from here part and I mean working from there. That sounds pretty good, right? But the thing we have to take a look at I think the most important thing is what he talks about Which is when we're talking about The custody This is a big thing. This is a big thing that's bigger than what people realize and when I first heard this There there's there's context and there's a lot of things that we have to pull be Pull in From what Michael actually said here. This is only a 51 second clip Who knows what he said before who knows what he said after I couldn't find the rest of it? But you have to take it with a grain of salt But the thing is is it opens up a pretty good debate and I think I'm thinking a look at is the different things that That people said here. I thought I'd be a slam dunk people would say that's ridiculous. Why can why would anybody ever do that? That's not the point of Bitcoin, which is makes a lot of sense But a lot of people said and they were pretty good Black says this Blacks Kaiser. That's funny. Everyone needs to relax big institution banks being involved at some point We're a given how Finney himself anticipated Bitcoin banks I think peer-to-peer is just as valid a concept at the micro level person to person as is the macro level and there's a lot of things that There's a lot of things that you can glean from this and this will be an open conversation We go into the Q&A, but here's the thing me personally I was under this assumption to and I even talked about this when there was different custodians that were out there remember Voyager remember Celsius Remember FTX and some people say well those aren't banks Rob. Those aren't banks No, they're not but they're a centralized entity and they held our crypto now Does that mean that that these banks once they collapse they can they can take our crypto away? Well potentially and we have to understand that there's a reason why banks make money It's called fractional and reserve lending So if you don't want a bunch of paper Bitcoin, these are things you have to look out for and also people will say but What's great about it is that you know they take the responsibility they take the brunt of it. Well, that's true But there are stories all the time about people who get scammed out of their harder money from that they have in the banks That they can't get back this is just one story man loses 57,000 the scammer He can't get his money back and what he did was he he paid the scammers for a car that he said that he saw online and They weren't able they cashed the check, but it wasn't transferred in time at Wells Fargo. He had another bank He told Wells Fargo to stop that check. It was a fraudulent activity They did that and now months later. He can't get his $57,000 back. That's just one example There's many examples where people have been scammed out and they can't get their money back So when I look at all these things I think to myself Well, what's the what's the? the Gradual outcome and the outcome is gonna be like this. I'm just gonna tell you guys like it is straight I don't believe that we should use any type of custody and I don't think that that people are that dumb or Careful, well, they can't write down 12 or 24 words and keep it someplace safe and not lose it. I think that people are Not complete morons and they can do those things will they lose Somewhere well, they don't if they don't Take it as seriously as you think they would but I gotta tell you if you have in your hands your entire life savings I think you'd be pretty damn careful about what you do So I take a look at that and then people say well, what about these boomers? First of all, I'm old What about these boomers Rob? They can't They can't you can't expect them to do that like listen pal At one point people didn't know how the hell to do email and they figured that out and Then people didn't know about debit cards We figured that out and of course people didn't know about how to use a Venmo paypal or cash I haven't we figured that out and people say so you're gonna leave people in the dust look If you don't want to use Bitcoin and you don't want to do it Then you can't and you don't want to custody it and that's up to you And then you can deal with the consequences moving forward, but the people that learn which I gotta tell you it's not hard I think they're the ones that are are doing pretty well and to piggyback off that I will just say that what a positive aspect of this is Businesses like micro strategy and again, I'm not gonna speak here for Michael Saylor what he said in this interview I'm sure he's going to Elaborate on that on the other You know and 20 different podcast that he goes to But I think the bigger picture that we need to look at is this and some people said they're like look Michael's a genius because He's saying he's telling Wall Street what they want to hear he's telling the organizers what they want to hear and He's actually showing these businesses what they should be doing. This is a micro strategy outperform That's adoption of Bitcoin strategy. This is a stock performance since August 10th of 2020 This is current as of July 31st 2023 I gotta tell you if you're a company and you look at something like this You're like, how the heck did that happen? Micro strategy when I'm 254% Bitcoin 140 hours. That's not bad S&P 537 NASDAQ and you can read. I don't have to do this for you So I think when we take a look at this people like wow Maybe we should look into that on top of the fact that you know You've got black rock and fidelity and everybody else trying to get a spot Bitcoin ETF And you got the Paul Tudor Jones and Stanley Drucken Miller's out there and they're talking about how Bitcoin could change the world Yeah, I think it's a it's a pretty positive play. I will just lastly say before I move on which is this My goals aren't your goals and Michael Saylor's goals probably are a little bit different than yours. I don't know if you're maybe you are a billionaire I don't know who's watching the show but For Michael Saylor and his company micro strategy is a net positive to hold and never sell Bitcoin because it is good for his company and I don't blame it. It's done fantastic work for my I don't know if they've ever been up 254 percent in three years for the stock price, but it is a proxy Against say an ETF if it is or is not approved So for him it makes total sense to diamond hands and hold forever He said he's gonna hold for a hundred years. The question is what is your? Thing what is the thing that you need to do? What is the thing that is best for you and your family and That I can't answer for you. It's not a financial advisor. I'm sure it's not your dad So for me, I think this isn't that positive But let me know what you think about this in the comment section, especially with the with the custody again The way it's the way it should be I feel is like we shouldn't let the banks custody for the things That is laid out, but how it's gonna be is banks are gonna custody Bitcoin and we're gonna allow We're not gonna allow this to happen what you can't change the world For everybody you got to change it for a one at a time and hopefully once people figure it out It's the same thing with like centralized exchanges some people to have learned the hard way I am one of those people included when I got in in 2017. I heard about Mt. Gox I was like that'll never happen because look all these centralized exchanges. I mean I Want to go into this, but you know I'm saying people are gonna make their mistakes are gonna fall hard and that's just how it goes So anyhow, let me show you think about that in the comments And speaking of companies that are doing pretty damn well Just by implementing Bitcoin. This is a quick piece Jack Dorsey former owner of Twitter Now called X ceiling must bottom out Jack Dorsey's block had 5.62 billion in revenue 44 million of Bitcoin profits in Q3 Bitcoin revenue contributed to as much as 43% of its total revenue. That's pretty good So just real quick 44 million in profits on its Bitcoin holdings. Thanks to a price surge in recent months Bitcoin gross profit stood at 45 Million dollars up by 22% year-over-year and the firm selling to man They sold almost two and a half billion dollars with a Bitcoin to customers via the cash app I always thought the cash app you it was a It was a minimal charge for Bitcoin like very very low, but I took a look at the prices It's actually not that low So for a cash app if you're buying ten to hundred dollars worth of Bitcoin It's 2.25 and of course you can read but I thought it was interesting I'm like, well, I mean everybody's gotta get paid, right? But that's that's something anyhow, so that's good part there and then also I wanted to Just talk about some more positive things moving forward This is Eve lemuru nailed it He is the president's of lemuru and company market research based based on behavioral economics. I found this interesting As he talked about hey the signal one you got already signal number two the CME Bitcoin open interest hits an all-time high This is on November 1st. I was like, is that true? Let's take a look here the CME group and this is the open interest for Bitcoin futures and This is volume right here, but the interest itself it wasn't today or yesterday I think it was the first yeah open interest is 20,000 six six four such as means contracts are are being opened up and they're They're active and ready and you can see that over time. Yeah, he's absolutely right And the volume is not as high as it used to be but open interest I think there's a lot of room to run. So again, that's that's a good thing to see. I like that and These are the good parts about Bitcoin but people may ask but Rob what about All these altcoins Well, glad you asked Solana Has been having quite a huge rally lately that took a little bit of a dip but no big deal and I wanted this to go over this because it's about a price prediction now I personally don't like price predictions and the reason is I don't like price predictions is because I Think they're goofy and I think people are just guessing they're educated guesses But it gets people's hopes way way way too high. Hope him is good in small doses. I think But I just read this team will go from there. So this was talks about this is from coin desk One's Solana's rally marshal by buyers from corn from Coinbase Back to a 25th the CVD or a cumulative volume Delta increased by a million on Coinbase DVD metric tracks the net difference between buying and selling volumes. You can see that. Yes This isn't the dark navy blue Coinbase is out outpacing everybody as far as Solana being sold and bought more sell it more buying than selling But you can see on the exact opposite I mean, there's up it looks like a lot of people are actually selling and then also for a little bit Okay, X is flat and then by Ness was selling quite a bit, but has done that so That's pretty great. The question becomes why Solana? Why now? Well This comes after Van Eck a multi-billion dollar institutional asset manager Publish a report detailing a bullish case scenario that could take the crypto's price as high as $3,200 by 2030. What is it now? Like 41 42 dollars. That's quite quite difference That said Sol's recent price gains if you have to galvanize on chain activity And in two weeks the total value of assets locked in Solana DeFi protocols has declined from 12 million to 10 million Low since April 21. So what I want to do is I want to take a look and just break that down First of all price predictions. Where did they where did they get this from? It's from this report and Patrick Bush and Matthew Siegel Both part of the digital asset research team They came up with this great educated guesses a state by 2030 our Solana valuations scenarios protect a sole price range from a bearish $9.81 To a bullish 3,211 let me say that again these guys are geniuses Because that's what I would do. I would just give you the biggest wide swath and Just say hey bear case under 10 bucks It should be like 20% of what it is now to a bullish case of $3,200 somewhere in between it's gonna be there. That's it. That's pretty good and it's like The people that are that look at this. They're like bullish. I'll take that $3,200 which is fine, right? these the types of Price predictions, I don't really mind too much because it gives you a big white swath And I'll give you my price prediction for Bitcoin next year. That's gonna be between it's gonna be between $5 and $7 million. I'm pretty sure I nailed that 90% accuracy right there, but there's another piece to that which I wanted to take a look at which was DeFi and Lockups so of course, I'm gonna show you DeFi some on-chain analysis and also my my biggest indicator. I think it's fees So DeFi Lama there's a link in the description for this exact page. You can take a look at this yourself As far as total value locked up and all the change a theorem is still crushing everybody 52% Tron as everybody laughs at but I just used a couple of days ago Superfast Tron is super fast and people say well, it's centralized. That's true But so no one really seems to care about that for B&B chain So whatever but Tron's got almost $8 billion finance smart chain or a billion ton Look at that almost three billion dollars come out of nowhere Arbitrion one of my favorites, which is lagging as far as price indicators go 4.7 to avalanche, but in Solana Solana 816 million so what the heck happened well first of all I like this little piece right here. Whoops Stop messing around So you can just see in the blue as of in 2020 a theorem had 90 almost 96% of the market share of everything locked up And look as all these different chains came in That's called take eating away a market share and you can just see that actually as Of I think we peaked out for a theorem recently in March that's 61% Then you can see it gradually decline now We're at 52 somewhere on there and of course the Trons the Binance March change the Arbitrons pick it up But polygon not that much quite honestly Then the question is okay Well, if they're not locking it up, but it's got a there's a lot of TPS is a lot of transactions going on right Rob Well, there is as a matter of fact. This is soul scan. You can also find us in links in the description as well I want to show you this this TPS transactions per second 3400 6,000 it's been said that the transactions per second a throughput is extremely high 65,000 somewhere around there And we take a look at the transactions look at all these transactions. That's huge like that's a lot What's all this teal green stuff? Well, that's vote TPS and the true TPS is this little topper. Well, what's the difference great question? the difference is this Vote transactions or transactions involve a voting account vote transactions involve configuration registration vote collection and new vote signing That's it. It's only people moving back and forth a lot of different different objects on the different Cells or buys on the blockchain, which is Solana. It's not just voting It's it's imperative that this is done But these are just vote transactions Configuration registry and vote collection and new vote signing non-vote transactions of all transactions that do not interact with the vote program These include transaction interact with the DAPs built on Solana at the time of writing Solana's average non-vote TPS is 759 three-quarters of Solana's transactions are vote transactions and Might be a little bit higher than that. I think but this article was written in 2022. So hey, whatever Again, so when people are talking about the the TPS first of all, whatever, I mean, I'm sure it's fast it's very fast and So everybody knows if I'm talking about it, it means I own it So I own Solana. I own Bitcoin. I own Cardano. I own chain link all those things. You can watch me on Sunday I'll show you exactly what I what I own and how much I'm up and down as far as like the percentage wise But the big thing I always say to look at is it's not just the TPS and the transactions of what's going on because you can you can You can take those transactions and you can fudge the numbers But what you can't fudge or is a little bit more difficult is the fees your what you're doing is you're actually paying for something and Using that chain and that's where the rubber meets the road That's where you put your money where your mouth is and there's a website called crypto fees that info Come on down to Solana 10th 11th one down and they got a seven-day and a one-day fee Here's the thing if you click on that and click on more details What you want to know because right now you're some of you are are probably shouting at the screen But Rob Solana is super cheap and Ethereum is super expensive. So that's why they have more fees You're a hundred percent right pal. It's right. You are right But I want to show you It's just as things increase or decrease that's what you want to take a look at our people using this more of the pain for it Or what's going on? So let's still go all the way back February I just picked a random date February 2021 you can just see that people were using Solana like crazy. They were voting with their pocketbook, right? But as you can see his time has gone on They're really using as much right? I mean, you can see that's pretty much average and of course there was the big big decline I think this is around. Yeah, November 2022. This is when FTX roughly collapsed and of course collapsed FTX or collapsed Solana because that was scam Wankman's favorite chain And you're gonna see that as far as fees no one wanted to use it no one want to buy it but For the positive we can see that we have seen a little bit more of an uptick to 80,000 Which I don't think has it really happened since Yeah, a year and a half ago roughly so things are looking not too bad This is the indicator that I would put more weight to as far as what is actually being used as people are voting for their pocketbook and also Just to reiterate some things which is this You understand that's a lot of super cheap to use I mean look at that transaction fee point zeroes or two five of course people are gonna say but Robert centralized and it goes Down all the time. Hey, it hasn't gone down this year So at least they're on the right direction Ethereum is that's a laughable $21. I paid more for that during the peak seasons Cardano very cheap avalanche cheaper Poked out roughly the same Algarance super duper cheap But not as cheap as Solana and of course here's the transactions and throughput You can just see which one's kind of winning. However out of all these things I just talked about Throughput and transaction fees, you know what beats Solana Bitcoin Bitcoin well Not Bitcoin per se, but the lighting network. I did not know this and I didn't know it was this good Check this out. This is from Kraken. What's the lighting network? Well, it's a layer 2 solution For Bitcoin means it doesn't happen on chain happens above the chain. It's off chain So people are doing transactions thousands thousands tens of thousands hundreds of thousands of transactions per second And it's up to a million transactions per second. Isn't that crazy a million transactions per second? So when we take a look at like again Like Solana 65,000 that's nice, but hey, I guess I Guess maybe Bitcoin can be used for payments Again, it's from Kraken a Bitcoin light network aims to solve these limitations by providing instant and inexpensive Transactions while achieving a throughput of approximately one million TPS and as a reminder Bitcoin right now can do seven and believe transactions per second. So that's too great This is actually verified also by a bit pay because I'm like that doesn't sound right, but I'll be damned it was a Million transactions per second now. It's capable of handling a million. I don't know if it's actually been stressed test enough I will leave that for the comment section But again, this is also from BlockStream Bitcoin 7 TPS e30 like I'm da-da-da Solana 65,000 and it says that Bitcoin theoretically Lighting now working go up to 42 million transactions per second who to thunk it So maybe we will be able to go to Starbucks And buy some coffee Anyhow, let me know what you think about that in the comment section Lastly, I just want to finish up before we get in the q&a is two indicators that I thought were pretty good I'm going to uh redo part of that Uh selling strategy video if you don't know I'm talking about There is a link in the description It looks like this one and why I'm selling 80% of my crypto And there's a video right there you can watch these are the indicators I'm looking at there's seven or eight different ones One of the ones I like to talk about is the bitcoin risk bands. You can find this on bensite into the cryptoverse 10 percent Uh Never sent off for the first month links in the description Some of these things are free. Some of these are not There's different tiers. So that's what's going on. If I was you maybe ben's gonna have like a Uh black friday day sales. So just wait just wait to sign up But what I thought was interesting is when I was talking about these these bitcoin time spent at risk bands right now Bitcoin is calling it 0.5 to 0.6 risk band Which that happens 556 days out of the out of the entire existence of bitcoin. Now. Look at this See this one right here 0.9 to 1.0. That's one things get way overheated and it's only been 18 days and like the 13 14 years Whatever 14 years or so of bitcoins in existence, right? That's 18 days and then 0.8 to 0.9 is 80 So when we're trying to like I can't time tops and I really can't time bottoms That's why I'm just a dca here But I found it fascinating that with this one check this out see all this This is the bitcoin price color color coded by risk levels And of course it goes from the 0.00 0.1. Which you can see it a lot usually that happens when You know after the after everything gets uh blow off top and then it crashes blow off top and crashes But check this out. I'm gonna hide all these I'm just gonna put in 0.9 to 1.0, which is the 18 days. You know what those 18 days are bam right there Doesn't that look nice, huh? I don't know if you can see that really well But uh, yeah topper topper topper topper topper And over here not the absolute top, but if I could sell at 57,000 I'd be okay with that So I didn't hit 69 and then look at this one. I'm gonna put in the 0.00 0.9 same thing So if you're worried about like, you know finding some tops There's a lot of indicators and of course don't just follow me There's a lot of smarter people than me to figure this out But uh, that's a good one and also I want to show you this one This is from looking to bitcoin and it's called the bitcoin cycle master And uh, this one is uh, it's free. There's a link in the description as well But you're gonna see that this one actually called the tops pretty well, too This little red band here except for actually, no, it did really well As it's going through these price fluctuations, but again Uh, the best thing to do is to look into different uh indicators But I like these two these ones will probably be uh, I'm gonna add them into the video That's it for today. So look again, don't adjust your set I'm in this pool today because I messed up my back and I cannot stand up for more than like 20 minutes Starts, so I'm in the pool and I can uh stand up straight But thanks for stopping by I appreciate it if you like today's video Give it a thumbs up consider subscribing if you didn't talk about it Roughly time sensitive. That's it for today. So