 Welcome to the last set news to get top stories in crypto and bring on a bite-sized pieces today Just like the thumbnail suggests Congress is out there pushing Bitcoin And it's really going to be up to these key individuals to push us over the home So we take a look at who is actually doing that as far as Congress men and congresswomen and Senators and who is kind of laying into the wayside also take a look at what's going on as far as the Cardano virtual summit Which is going on this weekend and then out of all the good news I want to share something which is kind of in the middle of the road and what's what's going on as far as speed bumps El Salvador and their integration of Bitcoin and then also want to talk to you about a speaking event I'll be at which will be coming up October 15th through the 17th So first of all, let's just jump right in and say the market is pretty flat I mean right now we got it that's 1.89 trillion. We were bouncing around to a trillion But here we are the daily sentiment Sentiment score given to us by trade the chain Which scrapes all the interwebs and all the different blog posts for the different exchanges that is also has a direct API into Twitter and goes through millions and millions of tweets says hey This is what people's sentiment is for Bitcoin today in the overall market now if we take a look at the coins themselves It is Saturday beautiful day-to-day on my head, but I mean we're just kind of just flat after that news of China coming out and banning Bitcoin for the 20,000th time so we've got Bitcoin is up a whopping point eight one percent watch out Point three two down for Ethereum hovering around that twenty nine hundred dollar mark Cardano is the big winner today six percent I thought that this would actually happen with this virtual summit But there's some good news on the horizon which I'm going to share to you about what they just talked about and their big blockbuster partnership so that's what's happening and then chain link two percent is up and Well, we I'll tell you exactly why that is tasers up four percent. That's pretty much it. That's what's happening Also, we're gonna take a look at sentiment. Let's just go for the projected ranges today and see where we're potentially out If you're a big trader, I am personally not but if you are take a look at iotex Defy money rary governance hive. I haven't seen on a long time horizon umma and origin trail All right, so that's what's going on the market Let's just jump right into today's big story Shall we and that is that this congress? pushes bitcoin and I am I'm pretty happy about this I like to see this but before we get into who it is and who's actually doing the right things I want to just share with you a couple bit of data points and this was uh from mike greff So mike i want to say thanks for sharing this and what he talks about here is We just had this dump on friday. Which is kind of weird because we also had options expiration And uh for the traditional markets and it just seems like everything kind of played into that part the very right time at the right place And mike says, you know look a history of china's impact on bitcoin price in 2013 when bitcoin was pretty much a Uh a brand new baby well 2009 but it was kind of like an infant at this point Um or toddler who knows 50 dip when china announced it was banning bitcoin. That was in 2013 Mining that was like eight years ago. And then of course they banned it again 2017 and they banned it again 2021 But that was a real ban. That was like miners get out. I was so happy this happened But when that happened and we all agree it was a pretty big event 19% I think it was it could fluctuate a little bit more depending on uh, you know, uh, what would you look at? It might have been 25 and then today's ban, which was uh on friday Yesterday was five percent. I've seen a little bit more eight nine percent Maybe even 10 percent, but still you can see the point and mike's trying to make and it's a great point, which is China we know you don't want bitcoin and crypto. It's not going to make a big, uh, dent However, it still makes a dent with the uninitiated and that's why Uh, I put up this channel for the information so people can know exactly what's going on and this is just fun This is fud fud fud fud fear uncertainty and doubt and it's just Not relevant information at this point. So uh, mike thanks for that tweet also on top of that Uh, people will say well China doesn't China's a very smart country very smart A bunch of smart people and shing shing ping and all those guys are really well They also banned youtube in 2009, which actually is a pretty good move. I hate youtube just kidding Uh, youtube in 2009 facebook Not a big fan of facebook 2009 google they they banned it in 2010 and wikipedia in 2019 Uh, so when we when we talk about how like, oh, you know what? Uh, they're just uh, you know, they're just playing this 4d chess Maybe they're not because in all honesty, I mean really what they want to do is really I mean it is a communist country. They want to control their people, right? It's not really good to control people when you have a lot of information being disseminated by the masses Such as in youtube such as in facebook and such as in you in google So with those types of things and I can guarantee you they do not want their people to sidestep their central banks So in that regard sure But it's just going to you know, de-evolve and de-evolve into a more communist country and um, you know, see how that plays out It's not my that's not my uh role to talk about that My role here is talk about the good news And the bad news and what's going on in congress and this is something that I think was a step in the right direction This is senator pat to me if you have not followed him in twitter He's a must-follow actually all the people I'm going to talk about today He's they he they just get it and to me comes out and says this he goes Look china's authoritarian crackdown on crypto including bitcoin is a big opportunity for the u.s It's also a reminder of our huge structural advantage over china. I'm like structural advantage. I'm listening He says uh, beijing beijing is so hostile to economic freedom They cannot even tolerate their people participating one is arguably the most exciting innovation In finance in decades economic liberty leads to faster growth And ultimately a higher standard of living for all and then we can debate this all all day long But uh, I got to tell you the more It's like the more you shut off The rights to people the more they want those rights back and the more they will fight for those rights now I'm not here to uh inside a revolution. That's not Point the point is channel But uh, I do have to agree with to me and I have to say that this is uh, again This is a great Opportunity for america to step in and take the lead and say this is what we want to do All the miners come here. We're going to set forth regulation We're going to give clarity and we're going to run with it And we're going to be the global leaders for cryptocurrency and you know, maybe even Mass production and also maybe even ai if you can get those three in the next 10 years You'll be a global dominant leader anyhow on top of that to me was the one that pretty much pressed Gary ginsler one of the one of the senators there and says, hey, look gins gary You need to give us clarity and you say it's all around us But it doesn't make any sense because when I'm looking at it as layman doesn't make any sense to me We did a video on this on september 14th. I would like at the very end fantastic information. It was a it was a two-hour Conference or a hearing which I condensed into about 20 minutes or so which you can just let take a listen to later But to me is one of those champions of crypto and I want to say thank you so much for doing the things that he does On top of that, we've also got Cynthia lumas from mioming. She says look bitcoin is bipartisan digital assets are apolitical Other slogans welcome and this is because she Caitlyn long says sena lumas just gave a big shout out to senator ron wyden For their partnership opposing the broad definition of broker in the infrastructure bill if you remember not too long ago That bill came about and it was just an awful Writing the way that it was it was put forth and because of all of our efforts it almost got changed If it wasn't for one senator, I forgot that guy's name who stood up and said nope I'm not going to append this and we're going to keep moving forward, but On the bright side, we've still got some pretty big names. That's lumas. And then this is uh, One of my favorites tom emmer. I think he's from hawahio and he said this digital authoritarianism China is forcing its citizens away from decentralized currency and onto the digital yuan so the ccp Can track all money movements You fear big brother, but you should also fear what the fed might be designing and uh on top of that tom here also had the folks over there at Coinbase come in and talk to him and tell him what's you know to to kind of determine What's the security? What's the commodity? What's the currency? And he sat down with him and I said and I said hey, you know, what's great about this is that uh, These people came in talked to the representative and they and then tom here didn't send them a well as noticed or try to assume Like the sec did with coinbase because that is the wrong move in my opinion And this is what it all really call comes down to so I know we hear about this this horrible news It's this awful news about the sec is coming in and and then gary's really gonna, you know crack down Super gary's gonna crack down everybody, but you have to remember It's not just not just one person that can dictate everything You have to go through a lot of different hoops and a lot of different Chambers and houses and boats to really get things done and these three people they just get it They understand what this means and how important it is to move forward So I just want to say like every time you hear like some bad negative news Just remember there's people in some pretty high places Fighting for the things that we want so let me just think about that in the comment section Let's move on to our next piece the cardano virtual summit so Uh, first of all the reason why cardano went up is because this virtual summit I think there's some announcements also probably went up because there was a big announcement between cardano and chain link We just saw they were the only two that were actually up beside I think I forgot the other one So congratulations looks like cardano is going to be working a lot more closely with the folks at chain link And then just so you know you can go to this right now and it's the most It's the most interesting summit I've attended because usually it's just like the zoom boxes and people are talking And you almost fall asleep and this one's pretty cool. Like you can just like go Hang around in a virtual world when you go up to people You can start to chat if you want to you can and then there's all different types of it's kind of like you're you're On a field watching a movie and then you can go to all the different types of let's see what else is going on Governance Mainstage community catalyst and you can go to any one of these that's going on right now And you can interact with people you can watch what's going on You can see the actual event itself and just kind of go through here Usually it's actually people talking. It's not a bunch of these slideshows. Ah, there's one Who's this guy talking increase interoperability on the networks, but That's how you go around and you can also find little things like gamification I think it's a very interesting concept It makes it a more engaging as for sure and that's what's going on so I can tell you this There have been some rumors About some big announcements being made Here, but uh, only time will tell and I'm not even going to tell you the rumors because it's just the rumors So there's no reason for me to say it, but I do think there's a couple of moderate to huge announcements may be made during this Uh seminar, so uh, we will see and I will link Uh, how you can actually get to this virtual conference the ground which is going on today And tomorrow and I believe you can actually watch the replay. So uh, check that out at your leisure So good news going on in the crypto space and that is fantastic, but I need to talk to you about A little bit of uh, some middle of the road Maybe even some might consider this a little bad news and what's and what this is It was a good piece Written by bitcoin.com. It talks about a rocky start For bukeli's bitcoin law in el Salvador And uh, when I first read it I was pretty standoffish. I'm like, yeah, right It's just fun and people aren't really, you know, there's there's spreading a false narrative But in reality, you have to take a look and take a step back and just challenge yourself and say This might be true and uh, from what I was seeing I mean, nothing's a hundred percent accurate But I can when I look at this and like this does make sense. This makes sense. Why there's probably having they call it a A rocky start. I just call it a speed bump And uh, that's the best way I can say it. So what's going on here? So First of all, this all got rolled out about a month ago or so. Check me in the comments And then uh, people were talking about different protests against the president bukeli But when it says here on september 15th, there was a the one of the biggest protests against bukeli's government And poll so and then we there was thousands of people that came through which is where you have seen other pictures It's just like they like they like have a picture of like 20 people and then they make it look like hundreds But it's not really the real case just an angle of the picture. But this one they're saying, yeah There's been protests lately and there's been thousands of people which I think is really not too bad considering the fact that uh, they'll sell it or has between I think four and five million people Uh, depending on, uh, which census information that you get But you have to remember this though the polls still suggest he still has an 80 approval rating Which is amazingly high for anybody in an office. I don't see that's possible. But okay But here's the thing And this makes sense Not completely adopted while everyone saw the pictures of fast food chains accepting bitcoin We've all seen the one with mcdonald's we've seen the ones with like windies or whatever else where it says we take bitcoin here As payment the truth is that bitcoin is still far from being accepted universally in the country. This is from florans, uh, olivades She says there's lines and lines and every chivo Atm and chivo is the what is the app that the el Salvadorian government put out for its people It's a bitcoin wallet and they put 30 dollars with the bitcoin in each of these wallets And she says uh people selling their bitcoins for usd Uh, yeah, but bitcoin is a success in el Salvador when you say it like that Yeah, there's a lot of people and only makes sense. They're gonna exchange it for the for the us dollar. Why? because Look at the volatility we've had if you are making here. Let me show you something if you are This is the gross national income per capita in el salador from 2010 2020 last year the average salary 3650 per capita 3650 don't want to let that sink in if you get 30 dollars From the government. That's pretty big money in all honesty. Uh, and then let's just say that You know, we had that block. We had a you know, things go down. It reduces by 20 percent. You're like, what the heck just happened I don't have the time and the patience to figure this out I'm in a developing country. I got 30 dollars and now it's worth 24 dollars Uh, this isn't this isn't what I signed up for and i'm gonna change it out for us dollars because guess what? As much as we complain about the dollar and it's going away and it's really awful and da da da Guess what? It's still stable. It's still stable And that is just the truth and I don't care if you are thinking yourself Well, well these people should just hold on for for a year or two years or six months When you're in a developing country and you have to feed your family. I'm sorry You're gonna put it into us dollars not everybody, but that's what it is And I think here's one of the big problems and it states here the mass of saladorans still don't understand What bitcoin is or its use cases the government has a big job in educating its citizens about the true value of bitcoin Here's really what it comes down to Think about you when you first heard of cryptocurrency and digital assets The first one you probably heard of was probably bitcoin if you just got into it's probably dogecoin. Sorry And uh, when you heard about these things you're probably like that makes no sense Why would I even get into that and then you took the time and the effort and you actually learned about you? Okay, this is what I want to get into I want to be a speculator. I want to get into it, right? Not a lot of us are putting our entire livelihood into bitcoin and crypto some of you are I don't think but I don't think a lot of you are and if you're doing something like this And I'll solve it or you have to understand that those people need to under they need to comprehend What bitcoin really is, you know, it gets you out of the monetary system You don't have to rely on the central banks. There is a finite supply I mean, they can't just print it to oblivion like in venezuela like like all the money It is set in stone at 21 million. I really do think it's only 18 because everything that's been been lost So you have something that is so valuable and so rare and it is the most secure computerized network in the world ever has seen In that I think those are the things the pieces that are missing and if we can't Determine or actually talk to these people about What it actually is they won't get it on top of the other factors I just talked about which was hey I gotta feed my family. We're starving. We got to pay the rent. We don't want to get kicked out We gotta put this in the u.s. Dollars. So when I say it's it's a speed bump It's a big speed bump, but I think it can be overcome with time Anyhow, let me know what you think about that in the comment section and then lastly, I just want to say this I'll be at a speaking engagement. It is called the conscious crypto traders. It's between october 15th and 17th And it's mostly for traders. I was asked to be a part of this to give an alternative opinion because they're like Rob, we know you're not a trader. I'm like, yes, that's very true but uh, I am there to talk about What I do as far as taking profits how I do things how I Legally minimize taxes and the things that I'll be doing as far as like an updated If you want to call an exit strategy, but really it's what I'm doing with my crypto gains As opposed to exit strategy. So I'll be there talking at this on top of all a bunch of uh, uh, other traders which You know, hey I'm not uh, these are all the trader experts. Not that I am Ah, diddy And uh, I'm not like a big huge fan of everybody here, but uh, hey, it is what it is So I just here for to give people an alternative Um opinion about what to do because this is where it's gonna be a lot of new individuals And uh, that is it. So look, uh, there's a link in the description for that. You want to check it out? That's fine. But that's it for today. So uh, first of all, if you're stuck with me I want to say thanks so much for hanging in there. Appreciate it If you like today's video, give it a thumbs up also consider subscribing letting me talk about our very time sensitive And that's it for today. So thanks so much. I appreciate it. I'll see you in the next one