 Hello everybody and welcome to the live stream. So if you aren't aware there is a pro Bitcoin advocate Who just won the presidential election for Argentina? Javier Malay, and it looks like things are going pretty good over there Hopefully for Bitcoiners and everywhere and worldwide. The question is is this good for Bitcoin? And of course, how pro Bitcoin is he and what's next? So if you weren't aware This is the gentleman right here. Argentina presidential election far right. I always like that far rights You know, whatever they they mean by that libertarian Javier Malay wins after rival concedes and the funny thing was is he was running against the Finance minister which I found hilarious because of the amount of Inflation that was going on and that was the person he was running against And of course in the very beginning it looked like he was going to lose I thought to myself if he loses against the guy who just put inflation all the way up over a hundred twenty percent There's no hope for any of us. So this actually came out last night around 7 p.m Here in Atlantic center time. So this looks very positive and the reason it's positive It's not just because we got one more Pro Bitcoin advocates in a presidential spot, but the question then becomes well, how big is it? You know, how big is it? Well, first of all This is El Salvador. Of course, this was the first the first country to Have a a president who says who came over Bukalei and said look, we're gonna use Bitcoin It's gonna be legal tender We're going to push this throughout the entire region. They their GDP was roughly 28 Well, we'll say 29 billion as of 2021 not bad, you know, nothing to sneeze at I mean, I'll take it But if we take a look at Argentina, that's 487 billion dollars GDP now as far as the population you look at 45 point eight million or so and El Salvador six million So again, this is just one more step up. This is great. I'm not gonna take anything away from it This is good news for us moving forward, but here's the big question Why did this happen? Well, first of all it happened because inflation got way way way out of control Looks like it was as of September 14th 124 percent and things were going to spiral out of Just spiral out of control. Obviously 124 percent has caused living Christ sharpens And you see this from 2017 Monthly inflation right and it's been quite big and people have been talking about that they might have to move out They might have to close their stores because you can go to one shop and buy an apple for however many Argentine pesos it actually is another shop. It's like double the price So people are like we can't keep doing this. This is ridiculous. We need to give this under control and that is essentially what? Javier ran on and won however He's not going to implement Bitcoin on day one He has been very vocal about how pro Bitcoin he is, but you understand like I said You it's not gonna happen from day one. They need to get things under control first They need to put out the fire and the way they want to do this is adopting the US dollar Yes, right the US dollar. I know some people right now is like why don't they just do Bitcoin from the very beginning? Why don't you use Bitcoin from the very beginning? It's because it's volatile. That's why it's super volatile I don't believe that right now You should have the legal tender for an entire country in Bitcoin correct me in the comment section I I just I just don't see that actually happening and now Salvador when they got into it in 2021 Imagine if they just took away the US dollar and said okay It's only Bitcoin right now and of course Bitcoin went from 65 67,000 whenever they actually implemented that will be the all-time high and it dropped over 77% So if you're taking a look at that way, I'm not sure that's the right way to go in the short term long term Hey, anything's up in the air and that's what it is So of course when people are hearing about this or like all this guy's a stooge He's just a fiat monster and he just wants to bring the US dollar and that's pretty much it And I was like look Same thing over at El Salvador There they have two official currencies the US dollar and Bitcoin and they are using lightning network so good for them So I said essentially I think you live in a fantasy world if you think that they're gonna go from day one to use Bitcoin It's good news But it takes time and I think that's one of the things that we we miss out in in the market itself We think that okay, we got a guy in there now. It's Bitcoin all the way and then here we go I think not everybody I mean for the most of us were pretty much reasonable rational people We know Bitcoin is the right way. We know that moving forward It's a good way to go as far as you know being a store of value being gold 2.0 being a hedge against inflation You know as far as like long-term store of value and we can talk about that Later later, but this is what we have and this these are the things that it is and I always said I'm like look If you think that Bitcoin is was the original purpose for peer-to-peer transactions We talked about this yesterday. Did you know that the Bitcoin average transactions as of yesterday? It was 18 bucks Ethereum average transaction fee was almost five now. It's dropped considerably today about a $10, but did you know that even today? The Bitcoin average transaction fee is double Ethereum gas fees in sanity insanity So that will lead us to our last point, which is this Some people will say look this doesn't make any sense because you know Javier he he ran on that Is he really a pro Bitcoin advocate? So this was an interview. It's about two minutes long It's in Spanish. So I'm gonna interpret now. I'm just kidding. I'm gonna read the actual Comments down here or the subtitles Because I know that half of you watch the show and probably either they're half or he may be more Just listen to the show. So I will tell you what he's saying and who is actually saying it So Javier right here is sitting in front of the newscaster a new caster asking the question and let me just go from here So people talk about Bitcoin and media all the time. This is the newscaster We don't know how Bitcoin works, but there are people that say that that could be a monetary alternative Do you believe that's possible in Argentina and in Javi says yeah, let's see What's the point? The point is that the first thing we have to understand is that the central bank is a scam Love beautiful. It's a mechanism by which politicians cheat to the good people with the inflationary tax What Bitcoin is representing is The return of money to its original creator, which would be us the private sector Money is a private Invention in order to be used to solve problems for example in a bothering economy the double coincidence of wants and indivisibility Then paper money appears to solve portability, which is true Actually, you had different currencies linen wheat salt where it come from the word salt from salary Our salary from the word salt hence comes a superstition. That's it when salt falls at the table You had a throat over your shoulder and then that was evolving and the currencies of the people chosen That the people chose were the silver for small transactions and the gold for the bigger ones Then because back then it was very dangerous to move the gold people use it Pause the goal and get an exchange of receipt. This is all true thousands of years ago This is why there's still gold bugs out there and then in the year 1445 and the first genovies come out Congress the states Appropriate the exclusivity to issue the money the paper money the fiat That's the legal tender, which is a key point because the legal tender allows the politicians to scam you with the inflationary tax This is exactly right Bitcoin has an algorithm that one day will reach a certain amount And there is no more 21 million and it can compete with the currencies. In fact, it competes with Ethereum and others I don't know that and what's the good thing? It's the return of the private money to the private citizens But what about the economy the country the problems of the governments will not give up the legal tender stop The problem is that the governments will not give up the legal tender. I Got to agree with him here Do you kind of understand where I'm coming from as far as like with Gary Ginzer approving spot Bitcoin ETFs? He knows it competes with the dollar the White House knows it competes with dollars the Biden administration knows it competes with the dollar Why doesn't he do it? Why is he just go move it forward? He does all the futures Futures were great, especially when you were shorting in the CBOE in 2017. So again, this is Correct, and he's speaking truth to power What but but but me that because legal tender they can scam you with the inflationary tax also true Bitcoin's natural reaction against the central bankers scammers to make the money private again Bitcoin natural reaction against the central bankers and The flip side is that the thieving politicians are not going to allow you to go against the legal tender Unfortunately in economies with high inflation the scam problem is bigger Argentina That's why as I suggest you can propose to close the central banks, which is what he's going to do What he wants to do? Let's see if he gets it done And then that's pretty much it and he goes on to a rant so again Talking about that. This is what Melton Friedman talked about in the 1970s Nobel Prize winner for Economics and he said look inflation is made in one place in one place only that's the US government But that's the government itself and he of course he's American so he talks to the US government So this is where primarily it comes from there's a little bit that can come from actual supply and demand You understand that but it all starts with one place at one place only the Treasury The US department and that's where inflationary comes from and it's control. That's really what it is I'm not going to preach on this what I'm saying Yes, it's good that hobby one hobby or one the presidential election there in Argentina But for him to go from zero to a thousand and put everything in bitcoin right now I think it's going to take a little bit of time But that's how it always is. That's how it always goes. It's all about time It's all about moving forward and speaking of time This is what it really comes down to it's all about technology And this is the thing that I'm trying to get everybody's head before the next bull run comes It's that I fell victim to this too in 2017 When I understood about bitcoin, I'm like, why does everybody just use that makes a lot of sense Let's just use that and move forward. I mean not everybody has to use it But I mean I think the the majority of the world can understand how this will work And that doesn't it's not doesn't go like that things move slow Especially with technology, especially new stuff We would say so like I always compared to this like iron was found was created Or discovered by man early man of 5000 bc. We can make simple things You can make daggers and hatchets and jewelry and a little bit of shielding and stuff like that fantastic And then we figured out steel in 1800 bc, which is an alloy of iron and carbon Oh, we made great things. We made skyscrapers transportation railroads and just recently For SpaceX stainless steel was one of the compounds that they use in the spaceships Fantastic, not just alloys stainless steel. Fantastic And now we go to bitcoin. It's only was runs in 2009 And we're trying to figure out what the technology actually does what it's the best fit We're going to go from here. So is it is it peer-to-peer transactions? Like it says in the white paper Is it gold 2.0 as an inflation hedge? Is it a store of value long term or short term? We're trying to figure all those things out and you can make a case for every single one of these Moving down the line, but again, I think things take time And I don't think that we're going to see mass mass adoption for this next bull run Even though we have the fidelities and we have the black rocks everything else It's their job to convince average joe public That bitcoin's a good thing. The problem is is that people don't really understand about where inflation comes from How money moves what's going on in the government because they're too busy Distracted by other things and I'll let you comment in the comment section below about that. So let me what you think there and then Lastly I just want to show a couple of things not a last I should say it's a couple of things We talked about this yesterday about accumulation because when we talk about bitcoin I know it gets in the people's head that bitcoin's the the one main thing And if you take a look here Let me minimize this as far as like accumulation how it all works. This is the to me. It was a time to accumulate in 2022 Things were going down probably not the best time probably the best absolute time was november 2022 When everything was hitting it's all time low But now that we're in november 2023. I wanted to take a look and just go back in time There's a website called coinmarketcap.com forward slash historical if you go to coinmarketcap You can just click on historical tab and it'll take you here and you can look at the snapshots of all the different cryptos Going back to 2013 in the top. Well, and this one is the top 10 and it's amazing to me How many last and it's very few really. I mean bitcoin and litecoin sure name coin. Oh, you weren't even trying for that one pure coin feather coin free coin tariff another stuff exists anymore. Come on What I want to see though is if we go back So let's I'm a big believer in the four year cycle. So four years ago, we're looking at November I don't know 17th 2019 Yeah, 2019 remember 17th. Let me see something. Did I do this one? Oh, yeah All right, so it's actually 2019. Look at this November 2019 Let's say the 17th Look at these prices back then I mean unbelievable 8500 a theorem was $185 xrp was 26 cents, which is not much anymore. It's not much higher than that. Thanks to Thanks to the sec bitcoin cash 268 litecoin 59 bucks Eos three dollars Binance coin bnb coin 20 dollars bitcoin sv so I just wanted to say that there's There's things being made here in the altcoin market The question is is which one is it going to make it because some of these are not in the top 10 anymore And moving down you can see what i'm talking about but The question is which ones are going to be and this one comes down to the alts and the alts One of the ones I like is near And I don't know if you were paying attention, but near went up almost In like 24 hours on up 19% And it just seems like like different altcoins pop off at certain times and some people have been Been messaging me and going hey, why isn't my token popping off because everything else is just give it time And I was thinking myself and like first I'm like, why is it doing so well because I personally think near protocol is doing really well It's already got sharding going on with his nightshade. There's supposed to be an upgrade to make it over a million transactions per second um And of course it was responsible for The sweat coin tge where it had millions of millions of of people switching over Web 2 to web 3 and it didn't even buckle didn't shut down no problems and it and it just went and did it but now I think Prices catching up does this mean it's not going to drop tomorrow. They go to a dollar tomorrow. I don't know it's volatile But there's a couple of reasons I think one of those and we talked about this a couple days ago This is uh sandeep from polygon and he talks about how polygon labs and near foundation Going to be able to build a zk wasm Which will allow Chains to prove on a theorem and have the theorem layer 2 security. So again, you see these big titans kind of Working together on the top 30 or so you got polygon and mirk foundation work together I think he got polka dot and cardano working together to do those things. So these are Things headed in the right direction also I will just say this I was trying to move Uh near When I when I send near to people on just a regular wallet, it's like seconds. It takes no time and it's like super cheap It's like fractions of a penny but I tried to move near from The exchange versus coin base onto my tangent wallet and it took almost an hour And when you're using these things and you know how we'll talk about how fast it is how the tps is very high The throughput is very very good and then people will try to move it from their exchange Onto their wall and like this is a piece of trash. It doesn't really work So I just want to give it like a public service announcement Just so you know That it's not the chain itself that's screwing things up It's the centralized exchanges that slow things down for whatever reason that they're doing it Like I said, usually it takes two or three seconds to move near this when it took damn near an hour and I know like In in our world we think an hour. That's ridiculous. But just remember this is way faster than a centralized bank out there Well, as far as it's going to it's going to cost you an arm and a leg 15 20 bucks for Just a wire transfer. It's going to take one or two business days at minimum business days not the weekend So there is that part. Also, uh, I was moving this to tangent because I just found out that uh The tangent wallet now supports near it also supports casper and a whole slew of things Uh, someone asked me what's the best cold storage wallet? That you like That's the cheapest for the most inexpensive. I should say another cheapest and it's tangent hands down like this Ah, it's not on me Right now I don't know if you guys know this most of you do but tangent used to be I did a deep dive video There's a link in the description looks just like this tangent cold storage wallet And it used to be that you that you would not generate your mnemonic phrase for your private keys I was just kept in these three cards and some people loved it like me and some people did not like it Like uh, most people so right now they upgraded it and now you can write down your 12 or 24 word mnemonic phrase In a piece of paper and try to keep it safe as much as possible And it does both you can do that or you can put your private key within the cards And it's pretty cheap. I think three cards, which is what I recommend 62 bucks two card set is under 50 bucks and that's with my promo code dan now This link in the description it is It is an affiliate link. You don't have to use it. You can go right to tangent.com And you can put in dan or if you hate my guts You don't have to put in dan you can just say you know what f dan because I don't want a discount That's fine. Don't get the 10% off But if you want to look into tangem, it's what I use all the time. I actually use three I use tangem And ledger and ellipal even the ledger is a pain in the a But uh, this is what I use right now and uh, I I love it And so far all three of those I just named none of them have been hacked tanges been around since 2018 Ledger's been around before that ellipal. I think for 2019 Correcting the comments section, but they've never been hacked true ledger has been hacked for your personal data Like your name and your Your email and stuff like that, but that's every single website. It seems like but not your private keys on ledger tangem Never happened ellipal hasn't happened So i'm just saying this is the cold storage wallet that I use and once you start using it I mean, this is what I use exclusively. I hate using the ledger now Once you start using it you're gonna understand why this will be the cold storage wallet To bring people in they know how to use a debit card. They'll figure this out So there's that on as far as like and I was happy because uh, they put nir on the new upgrade for their app So i transferred all my nir over and then also On top of that I'd like to announce That the sweat coin app They just implemented their decentralized exchange onto the onto their wallet And you can now swap out sweat nir woo usdc ethereum and wrapped bitcoin So if you're looking yourself like I can't afford I can't afford any crypto What's okay download that free app link in the description start walking around and then get some crypto And that's it That's it for today. So I shall dress So everybody if like today's video give it a thumbs up consider subscribing everything we talk about is time sensitive But that's it today for the news and we want to talk about now