 Welcome to digital asset news to get top stories and cryptocurrency digital assets and break them down to bite-sized pieces tonight We've got some interesting stuff first up General Motors CEO says nothing precludes them from accepting Bitcoin if there's consumer demand So the biggest story here is that it's not that they're actually going to start accepting Bitcoin But they would do it and all we have to do is find a little bit of demand Take a look at that on top of the fact that billionaire Mark Cuban is getting into DeFi And this to me is fascinating because for the longest time Mark has been doing nothing But talking negatively about cryptocurrency and all of a sudden once he starts doing his own research Here he is at the forefront and finally some good news the theory of improvement proposal EIP 1559 is set to have its first test net block and it looks like we could actually be doing these in the next couple of days To where we have a full launch in July So we'll take a look at what's going on there Hopefully we can decrease those god-awful Ethereum fees, but first let's take a look. Let's go on the market I'm not gonna get into this big time, but it's down total market cap is down negative seven percent 1.6 trillion dollars drone power from the Fed came out so they're not gonna really do too much Not gonna raise too many things and seems like there's not a big issue However, I do think they're gonna do a lot more money printing. So to me I see this as as a bullish symbol anyhow. I think they're gonna print more money I think even though that drone can actually say no, there's nothing. There's no inflation going on I think we all know the truth as you take a look at what's going on for the cost of goods and services Tell me that those aren't going up. So that is what's going on the the the market itself is down a little bit and just real quick Bitcoins that that's the 386 2300. So we're down not massively And if you're new to crypto, don't be alarmed by this this literally is just Wednesday and it's not a big deal. Let's get into the big stories and see what's gonna go on long term So to talk about the big stuff first of all this story about General Motors I find it fascinating that first of all the CEO would even talk about it and second of all but the dentist's just did not dismiss it like it was some type of of Crazy internet money that no one would ever use when I got in 2017. That's exactly what it was looked at It was a very highly speculative Asset and people would even call it an asset and now here we have CEOs going, you know, we get into that So this what's going on? This was just released about less than an hour ago and it states GM will accept Bitcoin if there's demand And this was actually an interview on CNBC done today The CEO is Mary Barra was asked whether GM will be accepting crypto for payments She said there's nothing that precludes us from doing that We'll be driven by our customers, which is exactly what you should do if the customers want to pay in Bitcoin Or pay an Ethereum or pay an XRP or whatever else it is I wouldn't just accept the payment and that's it Certainly we want to make the whole buying ownership experience as easy as possible We will follow their lead and then she's talking about the car salesman that guy that I don't really talk about too much and That car salesman from Tesla said this week that Tesla will resume accepting Bitcoin When there's confirmation of reasonable 50% clean energy used by miners with positive future trend good luck trying to Figure that out and how that actually you can actually quantify that and actually prove it I that's not my job. My job is to sit here and tell you what's going on the news So look the reason why I talked about this is again because I just find it Just blows my mind that just a couple of short years ago all the big institutions. I mean you had like a Jamie Diamond you had a Goldman Sachs. You had a Paul Tudor Jones. He had everybody He had a Ray Dalio just saying like this is the dumbest thing and this is just tulip mania Well, they still say it's too many and it's never gonna get off the ground then all of a sudden it's amazing how No one's using Bitcoin and they say, okay. Well, just a few people using Bitcoin. Okay Well, now it's just for a list of activities. Okay. Well now it's for large institutions But countries don't use it and now it's like oh well only small countries like El Salvador uses it Do you see where we're going with this and now we've got a large corporation global corporation who was just nonchalantly like Yeah, I mean we could accept that why not so We didn't just get a dismissed We're actually moving in the right direction and I kind of see where things are going the hard part though It's just figuring out about how long it is and can you hang on and that's why I always cost talk about dollar cost Averaging and just kind of getting into those positions which leads me to my next point Which a person that I think of the exact same thing that I'm talking about is Mark Cuban. So Mark Cuban He's on Shark Tank billionaire got into the old comm era and made a ton of money good for that guy But his whole thing was he was saying the exact same thing I just talked about nobody uses Bitcoin Nobody uses cryptocurrency. It's just tulip mania. It's gonna be a bubble It's gonna pop and now all of a sudden he's like well Bitcoin's got its place And now of course after he's done his own research research and really taking a look at what's going on All of a sudden he's like, you know what would really do really well Ethereum polygon Matic. Oh, I invested a ton of Matic and da da da da da So here we go another example of people when they just do their research and see where things are going They're like this doesn't make a lot of sense. So what's going on here On June 13th the billionaire investor coast of Shark Tank explained his fascination with DeFi in an editorial polish to his blog And I'm not gonna read the whole thing. It's boring But really what he stressed about was that yield farming via staking and liquidity Providing are the core features of DeFi and as far as the economy's concerned He believes DeFi could be the next great growth engine and it's not just him But it's his partner in crime Kevin O'Leary. Mr. Wonderful. We're actually like I think he's a pretty entertaining guy And from what I hear from the from the team over at market rebellion Super nice guy exact opposite of what you actually see and hear when he's on tv And he is all about DeFi But he makes it very mystical like it's like this really hard thing to do and it's really tough to to yield And do do farming and things like that But it's not that tough at all But what he's gonna do is make it very complex so that people will buy his next product because I guarantee he's coming out with one Anyhow Cuban says examples of such such exchanges that I use are zapper.fi quickswap.exchange Banker.network and uniswap. So that makes me feel good because the same things that I use this guy's using And uh, he's only about a couple of years late to the party But whatever I I'll take him as long as he's here and then to finish up He says Not for DeFi exchanges But what makes running a DeFi exchange so much better than a traditional centralized financial business of this And any kind is that rather than the owners of the business Investors and their creditors Putting up capital for all the transactions take place liquidity providers do everything for them And he says everything is controlled by smart contracts fully automated and pretty much is permissionless and great And that's what I think we all kind of see coming and to me When he gets into this this whole story about you know, this is what makes it great you really kind of have to take a look at What this could actually do and then his last statement Really kind of brings true he says He envisions DeFi and crypto as being important global transformation But he says if the us doesn't pay attention The country could miss out on the next great growth engine and he talks about on the early days internet We foster and support innovation But it looks like we're doing the exact opposite thing and that's what he's hoping to get get away from so look Mark humans, right didn't ever thought I'd say that but he is correct if If America just kind of overlooks first of all blockchain Uh, they just give her to that and say or not give her to just overlook it That's a problem if they overlook cryptocurrency digital assets If they take a look at what could potentially be a great thing as far as decentralized finance As it becomes a real world global Type of thing that is used throughout different countries not just first world countries, but third world countries And then we're going to fall way far behind and we're going to just be just as bad as china China I think is making a huge mistake with the bitcoin mining Kicking everybody out just going with the digital nuance. They can control everything in their country But that is up to them and I'm for one happy that they're doing it because I am ecstatic that all these bitcoin miners are coming to north america and parts of europe as well because uh, you know if you don't Think if you think that china is the most open and transparent country out there Then he had another thing coming and not that america's Is like the greatest uh, like we totally you know, the the government is totally transparent everything else Don't be naive. Come on. Let's be honest, but uh, i'll take america Over china as far as like a little bit of transparency what's going on any day of the week And I have no problem with the chinese people Just the chinese government that is the problem because they're trying to shut down everything so Defi I think is a pretty great thing and I think it's going to lead us into our next piece which If you're thinking about like what? Loans can do what things can do as far as uh, as defi. There's a great Uh podcasts that it had on isaia jackson and he's from uh, bitcoin and black america And what he talks about is how not just blockchain, but but defi loans Uh being able to bank the unbanked. This is just in america How it can actually help a ton of people, especially in those communities of where isaia is talking about So if we see something like that can actually like help these things So much the better now, let's just extrapolate that from america and take that out to india where the banks are going to india that much especially in the very poor sectors Especially in sub-saharan africa So if you can get into those areas And do decentralized finance because the banks aren't coming then you can actually bring everybody into a world inclusion. So Bitcoin is great and everything else, but I think there has to be a defi Ethereum an avalanche a mattock a salana Or cardano something else that can actually come in there and provide Decentralized or defi also speaking of unstoppable domains. I want to say thanks to unstoppable for Supporting the channel. This is a paid promotion on my channel And as you know on my channel, I don't do very many paid promotions. This will be the third one so far We've done itrus capital Crypto trader for tax services and now unstoppable domains. So unstoppable domains. 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Let's finish up on our last piece So last piece ethereum improvement proposal eip of 50 59 to have the first test net block So if you're not familiar with 30 59 all this is going to do is going to reduce gas fees Do it doesn't number a number of certain ways One of the things that's interesting is that it's it could actually slow down a little bit for the transactions But if you want to speed up your transactions All you have to do is just there's going to be some way for you to tip the miner to increase The speed wish that will work with uh Uber but uh that is essentially what's going on in a nutshell me personally was a little bit skeptical because The ethereum foundation has sometimes not missed or has kind of missed their marks But it looks like they're right on time So the much awaited fee burning upgrade of the ethereum network known as eip 50 59 Said to have its first test net block on 24th of june So we're looking at 16th of june so not too far away about a little bit more than a week The new development was passed across by the ethereum 1.0 coordinator tim bico. I think I said that right Tim bico said this with all clients comfortable with their 15 59 implementation We agreed it made sense to set test net blocks now Some of the json rpc changes mentioned at the beginning of may Come after the test net forks, but all the consensus related changes for 15 59 are ready to go that to me is amazing I did not think they would make it. I thought there would be a lot more internal grumbling and rumbling and people would just drag their feet But it looks like they're just going to move forward and uh for whatever the miners May have said that they were going to stage a protest. Looks like it didn't happen so Moving down to finish this up All the forks mentioned above are test nets and here are all the different events And the time date so you're looking at july june 24th june 30th july 7th But there's all all test nets this implies that they emulate the live ethereum network But they're only meant to test in order to know how the might the Upgrade would perform on the main net itself Considering previous reports that's been estimated the upgrade will go live by the end of july However, when it's deployed whether july or august depends on the outcome of of course the test net so this to me is positive news and if they can do these things if they can Reduce the fees But keep the transactions at near or maybe a little bit faster with the tipping. I mean that would be great I think the real question would be how much and how often would you have to tip? uh The miners to actually make it a worthwhile or a quick enough Transaction because if you want you to go global and you're trying to service everything that people are doing You can't just keep doing that you can't just go well Just tip them and then it'll be fast enough or just tip this or tip that It has to be things people want things now. They want things fast. They want things cheap So I think this is just the first step to what will eventually happen is hopefully e2.0 We'll come down the pipe and we'll see how that all works again I hold bitcoin. I hold ethereum. I hold avalanche. I hold a bunch of cardano And uh, so when people say, ah, you're really against ethereum. I'm not against ethereum. I don't care which one wins I got them both. So, uh, i'm rooting for both. Hopefully they both win. I don't really It doesn't really matter to me. I'm just an investor and that's uh, really all we got for tonight. So first of all Thanks for watching all the way the end. I appreciate it if you like that video Give it a thumbs up also consider subscribing a lot of things we talk about on this channel Are very time sensitive over on dan eclipse We do a lot more things as far as like the advancements and cryptocurrency and the new projects that are going on Uh, we just took a look at the uh cardano ecosystem We took a look at the indigo protocol for synthetic assets charlie for the cardano oracle and world mobile token To get interoperability digital id in sub-saharan africa and finally we also took a look at card starter So check those out over at the other channel dan clips. That's the links in the description. That's it for tonight Thanks so much. See you on the next one