 Welcome to digital asset news. Take a top stories in crypto and bring on a bite-sized piece is today There's really two things to talk about first. We're gonna talk about Solana and The entire network went down for 12 hours and second We're gonna talk about Bitcoin and what's happening as far as Golden Cross and what could potentially happen in quarter four So take a look at all those things the first take a look at what's going on into the market So today is a pretty great day I mean in all honesty September shaping up to be a pretty decent month thus far thus far Traditionally September hasn't been the greatest, but so far pretty good So we're at almost a 2.2 trillion Bitcoin prices at 48,000 holding pretty strong We've got some minor fluctuations and prices and we take a look here We've got again Bitcoin of 48,000 a theorem 3500 caught on 252 and everything's up across the board in the last 24 hours For the most part. I mean polka dots down a percent. That's that nothing So, uh, I mean it's looking pretty good 6% for FTX token 30% for Tron watch out. That's crazy 62% In oh, that's seven days for uh cosmos Or atoms that's pretty good. Anyhow, that's what's going on the market Let's just break in today's top story and just talk about This issue and it may not be an issue. It may be something that's actually Quite bullish. It just depends on the way that you look at things And I leave it up for you to decide If this is good news or bad news. So first up the suana main net beta encountered a large increase in transaction load which peaked at get this 400,000 tps. That's 400,000 transactions per second put that into perspective visa One of the global leaders in payment processing Does 1700 transactions per second? So i'm not gonna so quick math It's a lot so Yeah, it's a ton and uh, that is an amazing feat that it actually got up to that point and During this time these transactions flooded the transaction processing queue and lack of prioritization of network critical messaging caused the network to start forking and when you read that you're like, geez that sounds awful But just wait so this forking led to excessive memory consumption Causing some some nodes some to go offline Engineers across the ecosystem attempted to stabilize the network, but were unsuccessful The valedator community elected to coordinate a restart of the network I'm gonna say it again the valedator community elected to coordinate a restart of the network Just hey, let's just restart the whole thing. It's like, uh, you know unplugging your modem I guess I'm just kidding a little more complex than that. Uh, the community is preparing a new release and instructionally posted in discord, so This is what happened roughly 23 Hours ago. This was on september 14th 1 p.m. They uh, actually over 25 hours ago And uh, this is the update right now the slanted valedator community successfully completed a restart of main net beta After an upgrade to 1.6.25 daps block explorers and supporting systems We'll recover over the next several hours at which point full functionality will be restored so That takes care of the first two parts and I just want to break this down because lots of unpack there First of all, it's amazing that they hit 400,000 transactions per second. Maybe we can all agree on that. That's pretty Stupendous And and people will say well, you know 400,000 I mean that's when it actually went down But I mean think of it this way even if they hit 300,000 they were still stable And then maybe they started to get a little turbulence of 350 and then 400,000 just wrecked the whole thing That's amazing because that means I mean if you're testing something that means it actually happened and I actually wrote out I'm like was this potentially just a an effort for them to to test the network and they said no There was some information that came out that said that you know It was just everything was kind of pretty much just caught in a loop And it was like a kind of like a dd os attack on themselves essentially I know it's it's a loose interpretation but take it for what it is And uh, so I'm like well, that's great. I mean look that's pretty good. That is the bullish part Now here is the not so great part and that is that what they just talked about here Well, they said hey look, uh this forking or sorry the validator community elected to Coordinator restart the network I don't know You know how you want to look at that in any way shape or form but when you can Take a step back and your Validators can all get together and go we'll just restart it. Let's just stop this. Let's just start this Let's just move this around. Let's just do that around Is that an actuality the decentralization part that you really want to and I know people will debate that It's not for me to tell you what it is. It's up for you to decide But for me, it really comes down to this it always talks about With the talic buterin and the and the trilemma. What is the issue that you're having? Well, you can either have security You can have speed you can have scalability. So if you want to Actually or decentralization if you want to have scalability Well, then you have to centralize some things if you want some more security you have to make a little bit more Decentralized and to solve all three parts of that trilemma takes a real hard amount of work And so on I was one with the ones that said we solved it. We did it and uh from here just the outside of looking in It doesn't seem like it's that decentralized. However, I will say this in a big way. However I'm saying look at the solana website and we just kind of scroll down Uh, everything looks like it is back up live transaction per second 2023 Here's the average cross per transaction a fraction of a penny Here's the validator nodes and we take a look at the validator nodes themselves Because if you want to say well, it's really decentralized. Well, it all depends on the validators and how many are out there You got 1047 so I mean take it for what it is That is a heck of a lot. That's a lot more than we say with eos and their blockchain producers I think it's like 21 or 24. I can never remember So with over a thousand. Hey, it's not like, you know tens of thousands, but it's not two So It is what it is and that is the good part for there now Let's take a look at some other type of information and do like a little bit more of a deep dive as far as token allocation and staking and this was This was an image that I've been circulating around and I was always kind of skeptical on and I wanted to really do a deep dive But when we take a look here and I'll link this and this is a tweet that I put out So I'll leave us in the description. You can look at it at depth But she got as far as like the initial token allocation for different projects. It breaks down a public sale community Which is the ecosystem funds or airdrops that will eventually go to the community insiders, which is that's like pinkish Color includes all team company and venture capitalist purchase tokens Then in the gray is the foundations and more tokens allocated to foundations community over in grand pools Other incentives like test net participation awards. Those are good, right insiders That's so much community allocations. That sounds good and public sale. Yeah, we like public sales You know not private sales. So we take a look at salon on the right hand side here This is what we got 13 percent is the What is that the foundation and more and then in this like greenish type of thing that is the community allocation And not too bad in this very small sliver looks like the public sale and then the 48 percent Which is what we're talking about venture capitalists Um team and company is pretty much half of it So that doesn't look so great and when I had to try to prove this About you know, is this really the truth usually when you take a look at the at the white paper It'll tell you like token allocation. I couldn't find much in there Correct me in the comment section. That'd be great and uh, but I didn't really see this to be chalked up But I will say this If you take a little bit of a deeper dive And we take a look at the staking part. Let's just say for the sake of argument. It was that right 50% wants to venture capitalists and teams and all those things So if we take a look at staking First of all, Solana's initial inflation rate for staking is eight percent annually. All right a little bit high Decreasing by 50 percent year over year until it reaches 1.5 percent annually And then when I thought about I'm like, well, what about like lockup periods and unlock periods So it states right here by january 7th 2021. It's already passed the total unlike supply will be approximately 435 million 361,717 sol excluding inflation awards. Okay, so just remember this number four and 35 million So I gotta remember if we take a look at the max supply Because we're like, well, is it a billion 10 billion 20 billion? Well, actually the total supply and max supply is 488 million 630,000 blah blah. Okay. So if we take a look over here, well the unlock supply is pretty close to what it is Now the founders have or the founders tokens will be unlocked The amount of founders tokens currently expected to be unlocked on january 7th is 31 million So you add those in together great the remaining half Of the founders tokens will unlock monthly over the following 24 months or two years. So in all honesty As far as like unlocking Looks like the majority is unlocked and the next question that I had when I tweeted this out was this Well, if this is what it is and we can assume this is right, maybe it's a little it's off Maybe it's way off a little bit off. I couldn't really find the information But if we take a look at that what about what's more important the initial token offering or how much is locked up And I will say this there is an unlock period for solana For the the initial token offering there's that unlocking period for the founders We just talked about and even there is a lock up period for when you stake your solana. It's not that much It's not like e2.0 or avalanche where you can decide between like Two weeks or a year in avalanche in this one There's like a cool down period a warm-up period and then once you un-stake it It's like two days, but there is you know when you stakes those kind of thing But really if you take a look at the staked value or how much is being staked Cardano total staked is almost 70 percent right now, but look at solana 75 percent is actually staked right now now. Can these people Take this out and in two days and dump everything sure sure they can but I'm going to ask you a quick question With anything that's been going on with solana and things are going to happen in q4 We're going to talk about this in a second. Would this be the best time for you to take things out of solana It's hard to just dump on everybody. I mean you did all the hard work over I mean if you were an initial investor back in the day uh a year or two years ago. Do you want to just uh Make a quick nickel or a slow dime That's really what it comes down to do you want to just make a quick profit Or do you believe in what's going on? Do you believe in the transactions per second? Do you believe in the team behind it? Do you believe in the technology and proof of history and all that stuff and go from there now That's not for me to decide. This is not investment advice. This is just investment opinion and uh People on my channel are pretty smart and I leave it up to you guys to figure out what is best for you But in my opinion just opinion. I don't think this is a great time to just start dumping uh on The uh different people out there. I think this is the time to really hold and move ourselves into q4 All right, so that's my little rant there Let me know what you think about that in the uh comment section And then let's move on to our next piece. Oh, I just did that or I assume our last piece. Wow, I'm moving fast Bitcoin and great news. So real quick Uh, there's a golden cross coming up apparently It's supposed to be big and everybody's talking about today So I didn't really want to lead with that because everybody talks about it But there was a good article here and I'll just go over this very quickly. So first of all There was a death cross not too long ago March April May somewhere around there and it was uh When the 50-day moving average fell underneath the 200-day moving average and just remember that this is a lagging indicator It's not going to predict the future all the time and it even talks about here Where it says look uh james butterfield uh from coin shares said the indicator hasn't has not been A consistent predictor of positive returns. So Nobody You know tell yourself we got to get it We got to sell our kidneys and start buying bitcoin because it's going to go up, you know, 10 000 percent cold on However, I will say this and this was a great part a little refresher that said Bitcoin was changing hands at around 95 hundred dollars in may 2020 remember that a long time ago The last time a golden cross appeared over the remainder of the year the price tripled and then doubled again Early this year before peaking. So this was a pretty good indicator that things were going to go up and um, so if you believe in Golden crosses death cross and you know that I mean I see it as I see it as a potentially even a self-fulfilling prophecy or really just good ta and people look at that and go, you know what? I think things are going to go up. It's going to look pretty good And everyone's going to talk about everybody's going to talk about it and it gets in that consciousness of people and they go You know what? I think it's going to be a pretty good buy So around there I think that september is going to be turbulent even though it's been pretty good so far But even plan b says we're going to hit 43k That'll be the end of the month price. We'll see who knows but if that's the case good opportunity to pick up some more I know I will be doing that Now to go into depth about what we think is going to happen in q4 I'm going to direct you over to alex mask yoli show. He's one of the eight different youtubers I always recommend in the comment section or the description So it was me alex and cj for market rebellion and he gave a great in-depth answer in the first Six minutes of the show about what he thinks is going to happen in q4 How things are moving along and he goes over just the specs And in the ta and uh some fundamentals about what's going on So I direct you over there to learn more, but for today that is it. So look If you're stuck with me all the way to the end first of all, thanks I appreciate it if you like the video give it a thumbs up give it a like and consider subscribing Everything we talk about is very time sensitive as you can definitely tell and that is all So thanks so much for watching. I appreciate it and I'll see you on the next one