 Welcome to the last set news that could top stories in crypto and break them out of bite-sized pieces today We've got some honestly crazy stories first. We're gonna talk about Visa getting into the NFT game We're gonna take a look at a little crypto history to see kind of like where we are at right now and how we were back Just just four years ago also take a look at how a poly network hacker is giving back everything and the reasoning behind it I think it's a little bit of a twist and last we're gonna go over a cue of the day We're gonna talk about loans crypto loans and how that all works out So we'll go over all that stuff at first take a look what's going on into the market. So today. Hey another great day It is a Monday. I think it's a 23rd. Correct me if I'm wrong. I think it's 23rd 2.14 trillion 2.14 trillion market cap. That's pretty darn good we have just been going up and I will just warn everybody right now you can't go up forever what goes up Will eventually come down. So just expect for a pullback at some point you just can't keep going doing this although I did say that last week and Market over performed in my opinion. So who knows but I just want everybody just to be a little bit of that aware and We're looking at Bitcoin prices looking pretty good Looks like I mean as far as the sentiment analysis for today. I raise bullish. I mean 65 out of 100 I mean, that's pretty good as far as like sentiment analysis and if if you're wondering what I'm using It's called trade the chain. It's just for sentiment analysis and we can take a look at Everything as far as like what's going on as far as which ones are the good good sentiment for the day So like bitcoins at 49 for you're looking at First far as deli cement bullish bullish bullish bullish bullish separate tether bearish. I don't see how that works out But sure XRP is neutral. I'm bear. I'm bullish on XRP dogecoin and of course the darling of the hour Cardano congratulates us all you cardinal holders myself included It's been a magnificent run and we'll see what happens when all those smart contracts go online And if it can do what it says it can do and I'm waiting for that day to happen So let's see it all works out. That's what's going on the market. Everything's going great. Everything's going good Just be cautious. That's the only thing I can say. Let's go over the first story Which it's just crazy visa visa buys and crypto punks NFT or Roughly 50 ether that's insane. So I'll just go this real quick visa's official news-based Twitter account told it's 114,000 followers It's not crazy. It's only got 114,000 followers visa. It's pretty big company I guess they're not been maybe their Twitter game is weak just like mine whatever But it paid about 50 ether for a crypto punk 7610 so we did a video yesterday where we talked about this we talked about how you know NFTs is the next gold rush and Some people will say it could be a fad. Some people say it's a bubble and some people say it's here to stay I don't know what it is, but I can tell you right now There's a lot of things going on and people are making quite a bit of money and on this channel I cannot give you financial advice. I'm not a financial planner or analyst or like that It's just a financial opinion and I'm not telling you getting into crypto punks But I just find an interest in that visa First of all, they got into a partnership with Circle to bring USD see the stablecoin into its Into its system into its network business worldwide and then it goes on and says, you know what we're gonna do We're gonna buy crypto punks We're gonna buy an NFT and it states like this and so don't be alarmed when you hear this You're like all visa is gonna just scoop up all the NFTs. No, it's not what's happening Over the last 60 years visa's build a collection of historic commerce artifacts from early paper credit cards The zip zap machine. I don't know what that is today's winner new era of NFT commerce visa welcomes crypto punk 7610 to our collection Regardless of what's going on. Maybe it's just a collector's item Whatever they want to call it but in all honesty visa is pretty heavy into crypto and when they get into something like an NFT Maybe it's something to look at a little bit harder now on this channel I'm not the most well-versed as far as NFTs and things like that go follow crypto stash And there's a bunch of different Twitter accounts you can follow NFT today is one I just started following they got a lot of great insights go look at Alex Becker He's big in NFTs and stuff like that, but also before I forget is that the gentleman over at Cardinal combat they sold out their NFTs and which is based on the Cardinal blockchain within two hours and Because of that I was like lots of bummer, but they reach out to me to go Hey, we set aside one for you. Do you want to give one away? I was like, yeah, sure I mean people like free stuff who doesn't like free stuff. So it's the golden or a Boris all you got to do is Go to my Twitter account. You can see it right down there at news asset follow me and follow at Cardinal combat and Just on the very first first post which is pinned is the giveaway So everybody that's in this and they comment and they follow all the stuff I'll draw that tomorrow and someone's gonna win This little beauty, which who knows can be worth 10 cents give you a 10 million. I have no idea. Nobody knows NFTs, right? So that's what's going on there. Now what I want to do is just take a look about a little crypto history Because I know people when they look at things are like It doesn't make any sense. It doesn't really because I mean we're gonna go up forever or You know these we're gonna go sideways. We're gonna do whatever this. I just want to show you is all the way back from early 2017 to today and as you can see it right here, I Can't see my mouse. It's a bummer, but see that that little blip where it says 2018 right above it That was the last bull run and that was when everything went bonkers Isn't that crazy when we hit a a whopping 19,000 Bitcoin watch out 19,000 Bitcoin That's that's laughable now these days and then of course on the right-hand side above 2021 We see where we hit the all-time high around 64,000, but what I want to show you real quick Is that we take a look at this little piece? See this little piece? right before 2018 hit when we had like this all-time high see this stuff right here This doesn't look like much of anything, right? Well, this was around if you just take a look at May 2017 again for your cycles Which I always talk about on this show that some people don't believe in them anymore I still believe in them, especially after we just had a halving in 2020 so take a look at this price $1,700 for Bitcoin and then it kind of went up a little bit and everybody's like this is awesome 20 and imagine imagine over from 1,700 to 2,200 you probably like the genius right and you're going up 20 2,900 like ah, this is great and then all of a sudden starts to slide down like what happened What's going on then before you know it you're back down to essentially the same thing In July so over here And he goes up to here You're a genius in just like a month and it goes all the way back down just like what we saw recently In around April May when I went to it's all-time high and it crashed down, but here's another thing after July Just like how we see it now didn't we see a little bit of a rally what we saw a rally We saw a rally back then so now you're looking at 1st of August all the $2,700 3,500 4,200 and over here you were a genius at $4,800 and then And I'm not even gonna call it a crash which sounds ridiculous if you look at this right, but look at this We were down to 3,100 so right up here at $4,800 down to 3,100 everybody was calling these people morons You're an idiot for not selling you should Right, but then people who believe they're like you just wait you just wait and again What when was this September and people are calling for a pullback when in September amazing how that all works out Then all of a sudden a little bit of a rally now We're at 4,000 back to where we were before now We go way up all the way to $7,400 and again you're a genius But then it drops down again to $5,800 and of course the same naysayers you're an idiot You're a moron you should have sold so dumb and then before you know it people like we'll see and then I did this so again Why don't we take a look at all this stuff that's happening right now? This is just from from June look at this this craziness That's going on right now. All we really got to do is just zoom out and look at the big picture The big picture is things are gonna go sideways They're gonna go up and down But for this market and where we're going I think we're heading in a pretty good direction as far as cryptos and digital assets And I'm just a long-term investor and maybe that'd be something good for you Any I just want to share with that how much thing about that in the comments section Let's move on to our second to last piece the Polly Network hacker This is actually funny. So if you don't remember Polly Network not Polly gone Polly Network it got Not busted it got hacked for six hundred and ten million dollars worth of crypto That's a bummer and just one person apparently one hacker and then so they were gonna shut down But then all of a sudden they had a dialogue with the person that actually this some hacker and they offered him $500,000 bug bounty So just return our stuff will give you a half a million this guy's got six hundred ten million He's like no, but I'll return it at some point and he know what he did He returned everything he returned everything just a couple of days ago or just yesterday I think it was and he'd he'd been slowly slowly Returning everything. So when I read this I'm like that's sweet. It's not nice There's a hacker with a heart out there fantastic, but you got to remember this There's always two sides to a story Some believe that the hacker became a white hat out of fear of being caught Black chain security firms slow mist announced that I had to manage to get the stackers attackers IP email And device fingerprints. So at first when you see stuff like this, you're like, it's pretty good That's pretty great. See we're all gonna be safe I think honestly the only reason well part of the reason is probably because this guy got caught and then off you go Let me understand about that in the comments and where you think this is going I've got another great story from Alex Dabnia and Let's move on to our last piece. This might take a little bit of time We're gonna talk about the cue of the day and this is from Shane and I have been talking about Crypto loans because I think I'm a crypto loan with Celsius I put up collateral for my Bitcoin didn't sell my Bitcoin and what's great about not selling your Bitcoin is not not a taxable event Loans are not taxable so Shane says a rose. Thanks for your great video. You know ladies video talk about buy a borrow die strategy This was actually she hand challenge the car at my friend CP certified CPA. He said it was the buy borrow die strategy It's pretty good because I know he can't offer financial advice true, but here's a question I don't have a ton of crypto So if I take out a loan at the peak this year This is the this is the crux If I take out a loan at the peak this year then the Bitcoin price tanks by 75% the next month The loan company is going to want more crypto from me to cover their loss Yes, so it seems like I can only put up half of my crypto for the loan to account for this possibility So here's the thing. I just got to tell you right now If you don't feel comfortable with this then then don't do it I can't tell you what to do my goals are not your goals, right? So you have to remember if you're gonna take out a loan For your crypto you better make sure that that money is working for you And that's just if I had to tell myself that that's what I would say, right? I am not gonna take a loan out to buy a stupid car that is going to just Depreciate I'm going to the reason why I took out these loans was to put a massive down payment on a condo That was being rented on Airbnb for short-term rentals and it was rental 24 7365 So it was an appreciating asset one and actually gave me passive income Well kind of passive income to so if you're gonna do anything with these types of funds and and loans You better make sure they are appreciating that is the big thing So if you're taking a loan don't like I'm just gonna blow it on stupid stuff or I'm gonna blow it on Whatever the things you should need now if you need like the other things like hey I need like surgery or you know medical condition. Yes, of course take it out, right? don't be like those those Stupid diamond hands. I'm gonna hold on forever stuff like that if you got a self to help out your family you do that So it's all up to you So the thing is though is that with this loan? You have to take a look at the fine print because When I put up my Bitcoin, there's the different interest rates, right? So you have if you put up just twice or double the loan amount Your interest rate is like seven percent seven percent Interest and then if it's like triple it goes down like three percent somewhere around there And and these Celsius always does different things and other ones do different things and if you quadruple the amount that you need In your Bitcoin or whatever crypto. It's only one percent. So if you need 10,000, okay? You say okay, here's 20,000 worth of crypto. Great. You're gonna have a seven percent interest rate if you say Why need 10,000? Well, here's 30,000 worth of crypto. It's gonna be 3% You said I need 10,000 and you give them $40,000 worth of crypto to 1% and here's the thing though at that point That crypto is volatile, right? So if it falls past a certain point like for me when I put this in I Think Bitcoin was around. I want to say 55 56,000 They said look we're gonna call this in or you're gonna have to give us more crypto if it goes up If if the value goes down below $19,000, I'm like, well, that's probably not gonna happen So I think I should be okay. You don't have to pay off the loan right to give us more crypto So just be aware of those things. So just like Shane says if I'm gonna At the top hopefully he doesn't get along the top or whatever else it is that he needs Then yeah, he's gonna probably have to get more more crypto and then to move on in this one In a different video by Mark Moss, he talks about how each year you take out a new crypto loan to pay off the old loan And keep the surplus gain to live on you didn't talk about this and had a question about that So I'll just say like this on that situation. I wouldn't recommend to do that I mean, I guess I mean I guess you can but it's it's the same type of thing, right? If you're just taking all that out and you're living on that well, what happens if there is a black swan event What happens if another Pandemic comes along. I don't care if you believe in it or not It still affects the market so it affects the markets and you're gonna get called in for that loan Do you have enough to cover that loan either in cash or in cryptocurrency? so that's one of those things and That's just what I got for that one. So yeah So hopefully that answers that that your question about about that as far as loans You got to be careful make sure they're appreciating assets and that is the big stuff. So look that is it for today So hey, if you stuck with me all the way in I would appreciate it Thanks for sticking with me if you liked the video give it a thumbs up I'll consider subscribing. I think we talk about our very time sensitive and things we talk about on this channel Consider signing up and that's it for today. So thanks so much. See you on the next one