 Great welcome everybody digital asset news. My name is Rob. We've got a lot of things to go over. So let's jump right in We're gonna talk about the fourth largest Bitcoin mining pool pooling is Having a little issue issues with liquidity. So we'll take a look what's going on there Then we'll take a look at a story is as I as I term it is this really bad news as Bitcoin shorting fun feels Our season sustained interest and inflows Then we'll talk about some good news the Ethereum merge We'll talk about some more good news as there is potentially a soft landing in play This is by a Goldman Sachs economist and lastly we'll talk about Binance stops USDC trading pairs and why this is just an interesting story about how they plan to move along So first things first, let's take a look at the big story today pooling and if we take a look at it's I Can't say this is like the worst thing of all time I think we're kind of kind of used to the whole issue with liquidity issues as they call it, but Here's what we got which is going on today So of course the money pooling pauses Bitcoin and a theorem withdrawals citing liquidity problems What's going on and before we go on I actually reach out to my contact from coolings pooling and it said hey Man, can you come on the show and just talk about this and I didn't hear a response. So maybe Gentlemen is just too busy or maybe it's something more. I can't say exactly what it is It's just the reports that we have so pooling One of the largest Bitcoin mining pools by hash rate fourth largest has announced its temporary or suspended Bitcoin Ether withdrawals from its wallet service due to liquidity problems and a Monday announcement Pull and said its wallet service was facing some liquidity problems at a recent increasing demands on withdrawals and plan to temporarily stop payouts of Bitcoin and Ether So it's not just Bitcoin. It's also Ether Please be assured all user assets are safe and the company's net worth is positive said pooling Before I go on I'm not here to spread any fun But it's just one of those things where if you think about it like how many times we heard that and it actually doesn't work out To be that however pooling's been around quite some time. So we'll see how it all plays out It just would make me a little bit Concerned because if there was no issues and no problems, whatever else there wouldn't be any Pausing of withdrawals. So sometimes when you got to think about it, just think when there's smoke, there's fire They do go on to say that we'll make a snapshot of remaining Bitcoin Ether balances on pool on September 6 to work out the balances the daily mine coins after September 6 will be normally paid out per day other coins are absolutely not effective and Just to give you a Insight as to how big they are they're huge Firms responsible for roughly almost 11% of the Bitcoin blocks mined all Bitcoin blocks mined over the last 12 months and you can see here that you've got foundry USA by 18% USA All right, and pool F2 pool pool in and then you got and pretty close Binance pool is that 10? I didn't know that 10.7% via BTC 10.6 Slush pool SBI Luxor kind of rounding out to the little ones That is what is going on For that issue and I'm when I want to hear what's going on with Bitcoin miners the first thing I think about it is the Puel multiple and you can find all these Awesome charts at look into Bitcoin. They are 100% free and they're pretty awesome. I like I like using first of all What's the Puel milk? I think I'm saying that wrong Puel Puel multiple This metric looks at the supply side of Bitcoin's economy Bitcoin miners and their revenue Because you know it's kind of hard when electricity goes up and the difficulty rate goes up and all these things go up because it's difficult as a Bitcoin miner you guys got to remember that and of course Bitcoin miners, what are they going to do? They got to sell they got to sell at some point because hey, we have bills to pay, right? The Puel multiple is calculated by dividing the daily issuance value of bitcoins by the 365 day moving average of Daily issuance value and then just so you know Periods where the value of bitcoins issued on a daily basis has a store historically been extremely low when it enters the green box Which produced outside? Outsize returns for Bitcoin investors who bought Bitcoin here periods where it's in red That means it's providing advantageous profit taking for Bitcoin investors who sold it that's why I like these charts because I'm not that smart and I need colors to help me out and this really does help me out So what it comes out of this when it's in green you probably want to think about accumulating when it's in red You won't probably want to think about selling. I'm this is not financial advice I'm an official advisor, of course, but as we can see here over our last oh I don't know a couple months or so We've been in that in that range and actually we were above the range not too long ago 20,000 9th they're almost 21,000 24,000 24 24 19,000 and then here we are yet again September 1st. We were down there was good time to accumulate and That's what we have as far as the poll multiple. So like when I take a look at these things I take a look and say this could be a pretty good opportunity to maybe to accumulate but wait There's more Potentially bad news Bitcoin shorting fund sees sustained interests and inflows. What's going on here? Well investment products shorting Bitcoin sees record inflows. That's not good It depends on how you see this and I'll get to that in a second despite continued This is course from block works great website. Check it out block works.co Despite continued low trading volumes and declining assets and our management and crypto investment products overall money going into the budding short Bitcoin offering space reaching all-time high crypto investments products had roughly 9 million and inflows last week Which I didn't think it was that big of a deal my million. What's that? Out of big deal to big whales, but just so you know Short Bitcoin investment products now have a hundred and fifty eight million and assets under management a new high The largest such fund is pro shares short Bitcoin strategy ETF Bitty it's funny which launched in June after Bitcoin's price plummeted to less than $20,000 So just so you know is a lot of people out there that do not have the same conviction that maybe you or I have and They're shorting it and is that a bad move? Is that a good move? Well in all honesty for me But I kind of like it when they do these things because sometimes it pushes the price down and I can accumulate I always see it as this The next two years are gonna suck and it's gonna be choppy waters and we're gonna have a lot of problems And this is just a great time to accumulate so if it pushes it down I'm okay cuz I'm here for three five and ten years and that's the outlook One thing I will say that this next one. I'm gonna get a heck of a lot better at selling it Okay in 2021 But as time goes on that's the plan so to round out this article Bitty was up 20% from a month ago as of Tuesday as Bitcoin's price was just above 19 eight The fund is roughly 90 million assets according to ETF.com. Woof This follows the recent FOMC meeting at Jackson Hole Where Jerome Powell pretty much said that hey, it's gonna be a sustained effort to get down the Interest rates and they're gonna have to keep on it and he pretty much invoked Volcker And we talked about this at the last DCA show with me James and Ben And I know some people think it's not a big deal But I think it's the Fed is going to have to push hard and it's not about what the Fed should do It's what the Fed will do. I don't think they should raise that interest rates that that higher either But guess what they're looking a lot of data Retrospectively, we're just gonna push down a lot of different things in the economy and unfortunately what's gonna take a hit Probably risk on assets not investment advice just investment opinion and that's all we have for the article So let me know what you think about that in the comment section And then also of course as we're talking about the teeter tottering of the entire market Want to thanks masterworks for sponsoring today's show remember when one thing goes down in your portfolio You want the other thing to go up and back and forth and back and forth I like masterworks because you can invest in fractional ish shares of art. I have no idea. I have not refined at all But I do have a Banksy in a basket fractional ish shares mind you and I've done pretty good since October 21 I'm up 40% 39.6 to be exact. Here's the performance of annualized returns over these fractional ish shares of art Here's how masterworks is doing compared to the Russell Mazdeck and SNP And oh, yeah, it's beating the pants off a crypto as well And the reason why it does is because rich people are crazy and they like art and they'll pay millions of dollars for it Also, I know that people a little bit skittish about these things and that's why it's okay for this one It is registered with the SEC you can find that on their website and all the different filings there If you want to learn more there's a link in the description looks just like this and check it out And also as a little quick update There's a new painting out and I know some people say well Yeah, I need like tens of thousands. No like this one The price appreciation of similar works for this one Albert Olin I don't know what that is either But you can invest with $500 and here's the market risk adjusted appreciation because remember It's not much you make it's how much you keep and sometimes it's better to be a little bit Risk aversive so compared to all the art market and SAP 500 this particular piece Has a risk adjusted appreciation of 0.94 and just so you know, it's all done with the sharp ratio I had to look this up myself Sharp ratio all else equal a higher sharp ratio is better standard deviation shows the volatility investment returns Relative to its average return and they give an example down here But higher the better and this one looks like a pretty good I'm actually getting this myself. So that is just that little piece. Let's move on to some good news Ethereum merge this one I Know people are excited about this. I'm excited about this You know why because I own a theorem and everything I talk about this channel I own so I hope no one's under the disillusion that the things I talk about. I don't skin the game I'm super biased and that's just sorry. It's just how it is But this gives me hope but the question is is this gonna be a Sell by the rumor sell the news Ethereum's Bellatrix Bellatrix upgrade goes live this morning actually about nine Eastern time months ago. I guess I was 10 o'clock my time So here's what's happening and don't get too excited because there's another step to go So currently the Ethereum main net or proof of work chain and the beacon chain the proof of stake chain Operating parallel to one another the purpose of this upgrade is to ensure validators are producing updated beacon chain blocks that will set up the code base ahead of the merge The upgrade doesn't represent the entire the merge. It is the beginning of a two-part process But it did go through today at roughly 844 a.m And once the terminal total Difficulty has reached mining on Ethereum will end completely. Isn't that crazy to think about all the miners for Ethereum? I think I have to go to the theorem classic or whatever else I'm gonna do That's amazing And the merge will take place known as the Paris upgrade the merge itself again This is just the one of two parts is expected to occur shortly after 9 p.m On Wednesday, September 14th and remember for that to go to the next level e2.0 This is not the last step. You still have to go through sharding the sharding process. This is the beacon chain Proof of work to prove a stake now They go through sharding which could happen another year and also don't forget You can't unsteak your eith until that shanghai protocol goes through and that could be six months to 12 months later on But I still see this as a step in the right direction. I'm pretty happy owning a theorem myself Let me know what you think about that in the comment section and then uh, oh, hey, here's some more good news Shoff landing is in play Now on this channel I'm a little bit bearish I think with good reason as we take a look at what's going on Especially with the problems that are going on in europe not just the war but the ever increasing cost of electricity natural gas gas itself oil Well, actually always been going down and of course job markets For some reason has been has been pretty strong, but it actually is going on just a touch housing market looks like there's a little less demand And inflation isn't going on as fast as the fed wanted to so when I see stories like this I'm like I should probably talk about this So people can get a different perspective Goldman says fed has made progress toward a soft landing do tell So a goldman sacks chief economist has reiterated his stance that the u.s. Economy can still achieve a soft landing although he acknowledges The path is narrow Yeah, it is for this to happen though. What is required is sustained below trend output growth which I'll be honest with you. I mean we have had a reduction in GDP. Have we not A rebalancing of the labor market via sharply lower job openings And that hasn't gone away. We've seen more job openings, but it could still go down and especially as we have Unemployments stand on the same may a little bit. It's a uptick This is coupled with a moderate rise in unemployment. That is true and a large decline in inflation Which it has actually gone down inflation. Actually, you know what before I forget. Let me just do this You guys haven't seen this website. It is fantastic trueflation.com it uses 30 data pieces data set points Uses chain link as an oracle pulls in all these data points And what's great is it gives you real time insights into inflation, right? So when the government was saying that's only 8.5 in transitory, we're like, no, it's not true If we take a look at all these different areas housing transport utilities health care, so on and so forth It was pretty high But uh today, this is almost the lowest it's been so that's pretty good. Uh, unfortunately for the uk not so great sorry guys, but um And I still think it's a step in the right direction Anyhow to finish up the economy sees some encouraging signs As far as the recession is concerned He sees a one in three possibility that a mild recession will start in the us next year That's I'll take a mild recession and as opposed to a depression or heavy recession Overall, Goldman Sachs strategist sees market trading range bound meaning very boring I'm sorry for you traders probably going to shop sideways for some bit or even lower But uh, hey, I'll take it because I've been around when the crypto winner was and we lost 85 95% especially in alts But that's where we're at. So let me know what you think about that in the comment section. That's not bad news And let's finish up with uh, binance stops, uh, usdc trading pairs and my first saw this I thought I was a bit negative, but I've chained my tune on this one. Looks like it's just business as usual. Here's what I mean So binance is to rename all the stablecoin holdings to be usd so Binance And there's something about the stablecoin. I had no idea about I was actually pleasantly surprised and this might actually change my whole opinion on their stablecoin Binance is removing multiple stablecoin trading pairs and will automatically convert user holdings in usdc and other stables With the exception of tether Into its usd. So everything outside Of of uh, of their stablecoin b usd. They're gonna convert it into b usd So usdc packs dollar true usd will be converted into Binance usd on september 29th at 11 p.m. When I first saw this I'm like, that's not good because what is binance backed up with Will you be surprised and I was it's backed up by uh Everything competing stablecoins in their order books will be consolidated in the platform is native stable Now this is the big thing the move won't affect withdrawals However, and binance customers will still be able to pull out funds denominated in the three stables So if you're like, okay, you can change over to to binance usd. That's fine I can still do the trades everything will be like bitcoin to be usd e to usd b usd cardano I think the cardano is on it b usd And then of course you want to take it out and uh and usdc you can do that It's just that on the platform. It's going to switch over besides tether And binance said this is a business decision to enhance liquidity and capital efficiency for users Binance usd, and this was what shocked me. I had no idea about this Binance usd is a hundred percent backed by cash and cash equivalents And a stablecoin Regulated by the new york state department of financial services and if you know about those guys They are a pain to deal with they are a pain to get everything across And if they're using that and it's been approved so much the better Users can be protected. I had no idea good for Binance one more reason to use them unless you're in taxes like me and I get suckered out of it FTX similarly aggregates stablecoin deposits of usdc true usd usdp and b usd as usd and its customers exchange wallets while accounting for usdt balances separately and you would think that The ceo of usdc germilare would be like I don't like that, but he did. He said this is good um, he said this prediction Uh, this move leads to a gradual net share shift from usdt To binance and usdc Maybe it will I have no idea, but I just found it interesting that they They don't move things from usdc packs and all that stuff And into tether, but they don't change it but Right now it's b usd and tether. So that's it for that story. Let me just think about them comments and then lastly just as a Little update. I know it's confusing sometimes to people When we do the show because we have the live right now. You're watching this live. I am live. Hello So when we do the live show we go right into the q&a and after that we immediately edit the video To where there's now two videos one video is the live show which today is about 18 minutes And then the q&a will probably take another 20 30 minutes or whatever else and we chop those in for a reason It's because the algorithm does not like Very long super long videos and neither do people who watch it So when they look at my video or our videos and they say hey, this is an hour long. I'm not watching that I'm going to go watch something else and the algorithm is like that So we chop it up to make it digestible for everybody bite-sized pieces, right? But to make sure we get it all right because guess what youtube is not notifying you that's just how it is We separated it and in the playlist from now on There's will be a playlist for the live streams and it will all be organized By date so you can find it and then the q&a which is chopped up So you don't have to search all over the place It'll be right there as well and I will link that in the description After today's video and that's it. So look, um, not too bad about 19 minutes or so and that's all we got today So look Thanks for stopping by on a tuesday. I do appreciate it If you like this video, give it a thumbs up and subscribe all that good stuff Now if you want to stick around for the q&a like I talk about I'll answer all your questions the best of my abilities And we will go from there, but if not out of the os thanks for stopping appreciate you. Let's get into a little q&a