 Welcome to Digital Asset News, I get top stories in cryptocurrencies and digital assets, and break them down to bite-sized pieces today. We've got some pretty thorough stuff to go over, and it's all going to be related to Ethereum and the different fragments that have come off of that. And lastly, we're going to finish up with Polkadot. So this really comes down to this little image that I had found on the internet, and it talks about the PayPal Mafia and how I'm going to compare that to the Ethereum Mafia. Not these guys are Mafia Osos or whatnot, but if you take a look at the comparisons, we're going to go over just what these guys have done as time has moved forward into and how it relates to Ethereum. So if you've been around the channel for a while, you know that I like teams, and I got to tell you, these teams are stacked. But before that, let's take a look at what's going on the market. So today, it is August 26th, it's around 11am Texas time, getting things done early. Thank God for once. And let's see what's happening in the market. So Bitcoin, not too bad. Actually, it's right below 11.5. So I'm pretty happy about that. It hasn't fallen below 11,000, which is what I was worried about. But here we are. Ethereum did drop a 400 mark, but hey, what are you going to do? Hopefully it can go up a little bit more and I see big things in the horizon. Tether is tether. Nobody cares. XRP, the other stablecoin in the top five, is roughly a 27 cents. So XRP not too much. Watch out. Chainlink actually up 10.5%. That's pretty good. Actually, we've seen a lot of volatility here with Chainlink and I can understand why. But you know, I was worried it might go down a little bit more. But for what it does, as far as the Oracle, I see also I see big things in the horizon. So I am hopeful that Chainlink can hit up that 16, 17 dollar mark. But you know, who knows. And then the darling of the industry right now, Polkadot. We're going to get into this big leap later, because it has had a massive run. It is already and it could be in the top five. As you can take a look at here, as far as the market cap, 5.77 billion compared to 5.84 billion. So it's conceivable that this could be flipped. And we could see Polkadot, which barely has a seven day average of 116% could be in the top five, where I have never seen it happen before. So amazing. Litecoin Cardano. Hey, Cardano up 6, 7%, which leads me to something I need to talk about in a little bit. Bitcoin SV, no idea what's in the top 10. But hey, there it is. Finance coin, Tezos, Tron doing pretty good. Cosmos down a little bit. But man, what a massive run. I do not only Cosmos, but tip of the hat to all you Cosmos owners, because you guys really kept with it. And here we are. And then NEO at 7.6. I used to own NEO back in the day. Don't anymore. All right, so that's it. Let's go on to today's top story. But before we do that, let's take a look at all the things that I messed up on. As far as corrections. So there was a video I did a couple of days ago, which talked about China and Russia dumping the dollar. Now that part is totally true. That is definitely going on. And we just saw another press release where Russia is encouraging other countries to totally dump the US dollar. So that will only increase. And then it talks about gold and Bitcoin. I dominate, still believe that. But there was a story I talked about here, which I said Cardano fails to hit timeline. And in there, what I talked about was the timeline of the Daedalus wallet. So the Daedalus wallet was supposed to come out version 2.2. And I, when I looked at that for that day, it was still on 2.1, which was the old version. So I assumed that it had not come in. However, there's a little button here called flight. And on flight, these are specially created wallets for ADA holders who want to help us test new Daedalus wallet features. So this is where you find all the latest and greatest stuff. I had no idea. So that's one of those things where I was incorrect. What can you do? And a lot of people in the comments section had told me, well, a lot, but a couple of people were aware of it. And I said, Oh, great. And I just didn't really think about it. However, last night, I was watching my man, Charles Hoskinson, do a little live stream, always entertaining this guy. And this is what he says. So I'm just going to have you take a listen. Flight versus Mainnet. So the paint chip brigade, the people on the internet who like criticizing us with unfounded statements, they've been running around Twitter and YouTube and Reddit and other places saying that we're missing deadlines. And of course, it's because we're now doing ETC related stuff. Now, what these idiots don't understand, or they do understand, they're just being vile people, is that we didn't miss any deadlines. And I can't even understand where they're coming from. I guess they don't know that there's actually two versions of the Daedalus wallet. And that's exactly it. So that's exactly what it comes down to. No idea. So I want to say thanks, everybody who had enlightened me. So thanks so much. And, you know, we don't always get it right, but we try to correct. All right, let's move on. So there's this great article and it talked about who are Ethereum's co-founders and where are they now? I'm a big believer in history. If you want to look at where you're going, you have to look at where you've been. And I'm also a big believer in teams and partnerships. And it's all about who you know, not what you know. And this was a really good read. It was from the author, Camilla Russo, who also wrote the book The Infinite Machine. I just purchased that on Amazon. So waiting 48 hours to deliver right to my doorstep. Gotta love Amazon, right? So what she talked about here was just the A gentleman who had been founders or co-founders of Ethereum and how it all related to them and how they got into it. And I started to remember this. There was a, an image I'd seen a long time ago, which talked about the PayPal mafia. And PayPal mafia is all the people that had created PayPal back in the day and who had branched out what they had actually all become. And you can see everything from Kareem Chin and Hurley, who created YouTube. I mean, afterwards, they're all co-founders. So they made this massive PayPal and they went onto YouTube and that did okay. Then you've got, you know, Stoppelman for Yelp. You got Reed Hoppin for LinkedIn. This guy, Elon Musk, I've heard of him somewhere. He does something with some cars and some SpaceX stuff. You got Raboie, who made Square or the CEO of Square. David Sacks, Sha Levchin, Jeannie Kiva and Slide. I, first of all, I had no idea what those were. So I'd actually take a look at what they are. So Jeannie, it's a commercial genealogy and social networking website. It was acquired by MyHeritage in 2012. And it's got more than 140 million profiles. And I'm sure when I sold it, it was for billions, just a guess. And I took a look at Kiva. Kiva is a, it's a non-profit owner. And this one was really cool. Non-profit organization that allows people to lend money via the internet to low income entrepreneurs and students in 77 countries. And we've done these types of things. Me and my wife are micro loans in Sub-Saharan Africa. I don't know if it was for Kiva or if they're another one, but it's a, you know, fantastic organization. So that's pretty cool. And then Slide was supposed to be another social network, which was acquired by Google. And they acquired Slide for a nice 200 million dollars. So hey, good for that guy. And then we go on to Simmons for Yelp again, both Sequoia, Kiva. And then this little known gentleman right here, Piafiel, you know, does a little bit of a thing, multi-billionaire, and has got it right on a lot of different things. And has also invested heavily into Layer 1, which is a Bitcoin mining operation in West Texas, among other things. So if you take a look at this team, pretty great team. And they actually had a monstrous success in the beginning. And then it led to monstrous success after their first one. So these are the types of things that I'm looking for as far as teams and what they do. And it started to click to me after I read this article, which was talking about all the different co-founders of Ethereum and what had happened later on. And I just made this quick graphical representation because it helps to keep everything clear. So you had eight people, Vitalik, I think we all know that guy, working on Ethereum 2.0 right now. We'll see if that does. I think it's going to do well. Then you have MyhighElise. And I will just tell you right now, I will butcher everybody's name, sorry. But he did Akasha. And Akasha, I did take a look at, which looks like a pretty cool thing. It's a nonprofit. They do blockchain, collective intelligence. So something about expansion of mines, local, regional, and global scales. It just looks like a pretty cool different little project. So I'm like, okay, I have to remember, these guys in the PayPal mafia, I mean, they'd done this a long time ago. And then they had actually gone into these other businesses and really built them up. I mean, YouTube's been around since what, 05? So we're looking at 15 years. And then PayPal, I think, was in 98 or 99 somewhere around there. So they had time to actually go from one fantastic project to another fantastic project. I think the same thing is happening here with these gentlemen right here for Ethereum. So you got that, Anthony DeLorio, he created the Jackswall. Don't haven't used that one yet. Might actually check it out. Amir Chedrit, he's kind of like an advisor for a lot of different things, but he keeps a low profile. Charles Hoskinson, Hoskinson, and bam, just like magic is fixed. Charles Hoskinson, I think we all know this guy, founder, CEO of Cardano and IOHK. See how that all works out. Big believer, but who knows? The guy did essentially call me an idiot. I would say ignorant, but what are you going to do? And then Dr. Gavin Wood, founder of Polkadot and Web3. And we're going to talk about that a little bit more. Jeffrey Wilke, he moved on from Ethereum and is looking to start up a gaming company called Grid Games. And from what I've seen so far, this is from a Medium post, they look pretty awesome. So again, we'll see how that all works out by giving time. And then this gentleman here, Joseph Lubin, which I did, I had no idea this guy was a, he was a Princeton grad. And he was one of the deep pockets that got involved. And now he is the founder of Consensus. If you know what Consensus is, it's for dApps. It's a marketing, blockchain technology company, but he also has his hands on a lot of different things, as far as instrumental in recruiting partners such as JP Morgan, CME Group, Melon, Credit Swiss, Bankos and Tander, UBS and Microsoft. So that guy sounds like the linchpin almost. So if we take a look at that as a whole, this is a pretty good team. Now, of course, in this article that Camilla Russo wrote, there are varying degrees of who contributed more and who contributed less to Ethereum. I am not going to get into that part, but when we're looking at teams or as far as individuals who may have played a big factor, I'm taking a square look at Wood because this polka dot seems to be or maybe could be potentially enormous. First of all, I'd have Gavin tell you exactly what polka dot is and how it all works by watching this two minute or three minute video. But this is a guy that I can just tell has an extreme amount of intelligence because when you listen to it, I will link it in the description. You guys can check this out. But even that, his basic explanation went over my head. Some things are hard for me to understand, I suppose. So I try to break it down in the simplest terms possible. So first up, Gavin is part of the or is the founder of the Web 3 Foundation. Mission is a nurture cutting edge applications for decentralized or DAP software protocol. They're trying to deliver Web 3.0, decentralized and fair internet where users control their data. That'd be nice. Identity and destiny. That's a good one. And polka dot is our flagship project. So we're looking over here. So not only is the foundation here, but he's also working towards polka dot. So to take a look at what it is, polka dot and really Web 3 will enable a completely decentralized Web where users are in control. And I think this is what is going to happen later on as far as domains. That's why I'm always talking about unstoppable domains. If you need to pick up a domain that ends in .crypto or .zilica before all the big companies get to it, look in the description. There's a link right there and pick something up. Remember back in the 90s, people were picking up like pets.com and gold.com and whatever else.com. Well, those are all gone. So just look for .crypto and .zil. Probably be a better off. When you buy your blockchain domain, great news for you. You're going to get 30% off just for using your crypto.com pay wallet. So we're looking for a link. It'll be in the description. It'll look something like this. Just click on that and that's it. Anyhow, polka dot is built to connect private and consortium chains, public and permissionless networks. I want to read that again. Public and permissionless networks, oracles and future technologies that have yet to be created. Polka dot facilitates an internet where independent blockchains can exchange information and transaction a trustless way via the polka dot relay chain. So independent blockchains can exchange information. They can work together, interoperability. That sounds pretty good. But going deeper, we got to take a look at what that all means because it's all gobbledygook until you really break down and see what it's all about. So there is one, two, three, four, five sections and they break it down, scale, specialize, working together, self-government, upgrade. So to start it all off, scale. Blockchains in isolation can only process a limited amount. Polka dot is a multi-chain network, meaning it can process many transactions on several chains in parallel. So it's sharded, multi-chain network, and among all those shards, so what that means when we're able to process these different shards, these different networks, these different blockchains, that is the problem right now facing what they call legacy networks, where they process transactions one by one by one by one. And it makes sense, right? I mean, we know, let's just call a spade a spade. Let's just say Bitcoin, that's exactly how things are done. And that's why they're trying to change different things, the lightning network and side chains and such. But I gotta tell you, it's still slow. And when people really get into Bitcoin, if it happens like 2017, we're going to see enormous fees and enormous slowdown and people will be like, what? This is the future? Get out of here. I'll go back to Wells Fargo. Well, I won't be that crazy. Anyhow, specialties. When it comes to blockchain architecture, one size doesn't fit all. All blockchains make trade-offs to support different features. One chain might optimize for identity management. Another might optimize for file storage. On Polka dot, each blockchain can have a novel design optimized for a specific use case. So that's pretty amazing right there. So what they're saying is it's not just one blockchain that does one thing. They're saying this blockchain can do everything just about. And what got to me is when it said permissioned, permissioned networks. So I started to think about it. We talked yesterday about Starbucks and then using blockchain technology that's being offered through Microsoft. So if you go through Microsoft, not just Microsoft, but if you look at IBM, they have permissioned networks. It means it is closed. You have to have specific access that is very centralized. So they're saying, hey, it doesn't matter if you are permissioned, permissioned list, open or closed, doesn't matter. We can help you get to the next level. So I think that is a huge factor. Very nice. Next episode has worked together. They can share information and how they do that. Well, here's the example. A chain providing financial services can communicate with another that provides access to real world data like an Oracle. So you're going to have something like DeFi and then you have Chainlink and you can make them work better together and share that information. And they talk about Oracles, you know, doing things like outside data such as stock market price feeds for tokenized equities. And remember Oracles, blockchains are kind of stuck in their own little world, right? You need an Oracle to pull out outside data because if not blockchains can't do it. But what they're saying is, Hey, we can help them do it even better by using Polkadot. All right, great. Self-government. And this is all about staking. So Polkadot, you will be able to stake it at some point. Teams can customize and optimize their blockchains governance, their needs. And this was the coolest thing. Blockchain governance models can even be perfected and upgraded as needs and conditions change over time. So everything has to evolve as time moves on. So if you have some type of blockchain or some type of service or some type of organization or project that is saying, you know, what here's we're going to do, we're going to build it from the ground up and we're going to make sure that we can actually sustain this. And if we can't, we can upgrade it as time moves on. So things don't break as technology goes faster. And I got to tell you, that's the best thing that you can possibly do. Makes sense to me. And then of course, talks about upgrades easily. Blockchains and upgrades stay relevant. They used to, we used to do what's called a hard fork, which we still do now, which still sucks. That's why we got Bitcoin Cash. That's why we got Bitcoin SV and Bitcoin Tomato and whatever else. But Polkadot enables forkless upgrades, allowing blockchains to evolve and adapt easily as better technology becomes available. And believe me, that is coming. Then to finish up here, it says several teams are already building impactful solutions for Polkadot for a range of apps like finance, gaming, digital identity, IoT, supply chain management, interesting social networking and cloud technology, web three foundation, the organization responsible for stewarding the development of Polkadot supports many of these teams with grants. Brilliant. We're going to give you a bunch of money, want you to build a lot of things. And then you can go out in the world, sell those different things. And it can also make Polkadot the most used blockchain out there. I got to tell you, it's looking good. So look, I was going to go into some more detail down here, but I'm just going to link in the description. And I got to tell you, Polkadot looks like a pretty great project. The thing is, I'm always, I'm always very skeptical. You have to understand, if you've been here for some time, anything around 2017 to me, you're an OG 2016, 15, 11, doesn't matter. I mean, you saw that unbelievable parabolic bull run. And the problem with that during that time is that you had so many projects coming out that were like, you know what? This is the next big thing. And then another one, this is the next big thing. And this is the next big thing. Before you know it, you were bloated with 40 different tokens that you have purchased that pretty much went down to nothing as time went on. So I'm a little jaded. You have to understand, that's just how I am. And I'm a little more cautious because I've made the mistakes. So before when people were telling me, I'm going to Polkadot, I'm going to Polkadot. I'm like, it's just another shiny object. I will take a look at it when I have time. And I just had time. And now I got to tell you, it looks pretty good. However, you have to understand something. When I say don't FOMO into it, I mean, let's take a look at Polkadot 635. Let's take a look at the price over time. I'm not saying don't buy it. FOMO is not don't buy it. FOMO is don't go in there. And, you know, somewhere around here, when it's 575, don't go in there and be like, you know what, here's a $10,000. I saw my money. And then hopefully it goes up. And you know what happens? It goes down. And it goes up a little bit and it goes down. And it goes down. Here you are, you know, where you're 5, 513. So you get this feeling in your stomach like, dang, I did the wrong thing. That's not great. So all's I'm saying is just do this, dollar cost average in, and you should be okay. Now, am I going to miss these huge enormous gains? Yeah, I am. If I would have bought back here, let's just call it. And I would have bought it at 522 and I put $10,000 in. Well, I'm pretty good. You know, 651. Not a bad week, right? However, what happens, and this has happened many a time in the past, is you buy it here, and it goes all the way down to the floor, you're like, what the heck happened? Oh, well, the partnerships were a lie. Different problems with the team. And this thing happened. So you're like, well, geez, all's I'm saying is just be careful. I've actually bought in right around here, 560, 540 somewhere around there is when I bought in. Did I miss these impressive gains at $2 or $3? Yeah, I did. And I'm okay with that. I am not here to make massive huge amounts of money in a month and gamble everything away. I just, that's not my plan. That is my plan is to take it slow and study. Now, that is just my advice. If you can do whatever you want, that is just what I am doing. So lastly, let me say this, where can you buy Polkadot? That is the big question. Well, you can get it on Kraken. That sucks about Kraken is that you have to do wire transfers. There is no automated clearing house that you want to purchase with dollars, you can transfer over Ethereum, I think that's the only pair, Ethereum and US dollars. There's one other thing, but you can transfer it over and buy it that way if you want to do it like that. If you want to fund it through your bank account, you got to wait like two days if the wire goes through. So it's on Kraken. I believe it's on Binance. I'm not for sure. I don't have a Binance account. So when people say, why don't you mention Binance? Because I have a Binance account. I know I'm in the United States, but I live in Texas. It's not allowed in Texas. It is allowed in Florida now. So congratulations to all the Florians. Also, if you're looking for another place, it's also offered on Voyager. That just happened two hours ago. So if you're looking for an alternative to any kind of exchanges you have, there's going to be a link in the description. It's going to look like this. And there's all the different exchanges and wallets I've ever used, everything from Gemini, Coinbase, Abra, Kraken, Cash App, eToro, Crypto.com. And I just give you a breakdown of all the fees and what the percentage rate that they're actually offering if you're storing your crypto on there. There's affiliate links. You don't have to use them. You can go write the Voyager and download it. You can go write the Kraken and sign up if you don't have one. But if you use my links, they give you between 10 and 25 as an affiliate link. So it's up to you. And one big thing about Voyager, just so everybody's clear, they offer about 42, I guess 43 different cryptos now and only half you can take off the exchange right now. They're working to take all of the different cryptocurrencies off. But right now, you can only take the big ones. And I'm pretty sure, I'm not 100%, but when you buy Polkadot, it won't be available for immediate release. And that's the same thing with Cardano as well. Well, one more thing about Polkadot, just to be clear. I had done a video about seven, 10 days ago, and I said I was going to pass on it because again, I didn't have time. But looking into it and really researching it, I can say yes. So I can come back here and say, you know what, I'm not 100% correct every single time, but I will tell you what I know and what I don't know. And I'll tell you when I have changed my position due to facts and research. And that's what I try to do every time. Am I going to be right all the time? No, but try to get as best as possible. All right. So thanks for sticking with me through the entire video. Really appreciate it. If you don't know, there's a join now tab underneath. Just, you don't get anything special. Just a buck 99. It's kind of like a tip. But I just do random shout out. So I just want to say thanks to all the newbies, which will be Tommy Maples. Tommy Maples, that's a good one. Jeremy Schwartz, Susan Miller, who else we got? Eric Maiteko, Bill Ennis, Johnny Bitcoin, Amuse Web Design, and Igor Pustin and Chris DVM. So thanks everybody. I really appreciate that. If you like those types of videos that we just went over, there's going to be too much going to pop up on your left and right. Not sure YouTube controls all that stuff. And just check those out. That is it for today. I want to say thanks. Appreciate it. And I'll see you on the next one.