 Welcome to Jalassette News with the guitar stories and Cryptocurrency Jalassets and break them down to bite-sized pieces today. We've got some hopeful moves. First up, this is Raoul Powell and he's on Stansbury Research. He's going to tell us all about the three phases, liquidation, hope, and solvency, the price of Bitcoin potentially going to $1 million in five years and what is going to happen to gold also. The question is asked, are platforms moving or about to move from Ethereum to Cardano? And Charles Hoskinson, one of the founders of Cardano, lays it all out in one of the recent AMAs. And piggybacking on yesterday's horrible news that the President of the United States was going to stop all talks for the stimulus package. We've had a total 180 and now there's an immediate $1,200 stimulus checks ready to be signed by the President. What is going to happen with the market? If this gets approved and what will happen if not? So we'll go over all that great stuff, but first let's go over what's coming on the market. It is Wednesday, October 7th, 3.30 PM, Texas time. What do we got? Well, a little bit better than yesterday. A little bit. Not too much. Bitcoins at 10.66, at 0.9% or almost 1% up for the day. So that's pretty good. I'll take it. Ethereum's still below the 350 threshold, but hey, I think there's a tremendous upside here. Hopefully it can come up, but there was recent news of a stalling of Ethereum 2.0 development by one here. So that's not very positive. Tether's tether, rocking a $15 billion market cap, XRP is XRP, 24 cents, watch out. Bitcoin Cash, 2.2% up. Hey, it's pretty good and hitting around 222. Remember, there's going to be a hard fork of Bitcoin Cash coming up in November. So that could be a tremendous opportunity for Bitcoin Cashholders. Binance coin up 0.8%, sure. Polkadot up 1.7. Actually, everything's up a little bit. Let's just, you know, take a look here, 3.3 for Bitcoin SV. Sure. 1.7 for Cardano after the good news. 4% for Monero. That's pretty great. 1.3 and actually not too bad. 8% for VeChain. That's pretty awesome. Dash at 1.9, 7.3% for Synthetix. Interesting. 4% for my favorite Celsius network. Congratulations. I'll use Celsius token holders. I have very, very little because I can't get any because I'm in Texas, but if you don't know, I have 30% of my portfolio on the Celsius network. None of the token, but on the network. And I am gaining interest on that every week and I love it. My only regret is that they have to pay me out in things besides Celsius. In other parts of the world, they get Celsius. Just not me. You're in finance. Wow. Taking a huge hit. 15 grand. Oof. Down 10%. Or 40%. Jesus. 40% for the week. Ouchie. And on and on and on. So really not too bad, honestly. I mean, yesterday was a pretty awful day. We had a couple of things going on. One of those was the President of the United States tweeted out, said, Hey, no more stimulus. I'm not going to do anything until you elect me. And then that was it. And then today is totally reversal. We'll forget into that. But today's actually a pretty good day, but you know, it really just comes out of this. I'm just an investor. I'm not a trader. So these types of swings, I'm just like, yeah, you know, it's just, just a Wednesday. I don't really get into it. And actually, there's another guy who's kind of like me, just way smarter and with better experience. And it's Raul Powell. He's going to, he's pretty much the exact same mindset. So let's just get right into it. Okay. So this is Raul Powell. He was an ex Goldman Sachs executive, retired at 36, and he's been all over the markets. And one of his big holds now is Bitcoin. And you've probably heard he's been everywhere. And this is a fantastic job by Stansbury Research. If you have not checked out Stansbury Research, the YouTube channel, fantastic. It's going to be one of my recommendations. I'm going to put that in every one of my descriptions, but I've been covering them a lot. This week I've done, or last week, last seven days, I've done like at least three of their videos. So I highly recommend it. So I'm going to give you the highlights here and I'm going to enthusiastically persuade you to go over to Stansbury, check them out and watch the entire video. So let's just get into it. So Raul Powell, this was back in March or April. He put out a manifesto, a little PDF on his website over at Real Vision. He pretty much just laid it out. He goes, this is what I think is going to happen. And he talks about three phases, liquidation, hope and insolvency. And he kind of laid out a timeframe, but I want you just to listen to this part and tell me if he didn't nail it. Looking for you right now. So I've had a whole thesis that this thing was based around, it was going to evolve in three phases. First was the liquidation phase, which is what we saw going into March and finishing in kind of March, April. That's when everything has a correlation of one and everything collapses. Then after that, typically in a recession or a bear market, you have what's known as the hope phase. And particularly because of the virus and how that was going to evolve, the hope phase is the period when everything's actually, it's not going to be that bad. It's okay. And in some bear markets, that tends to last about three months. In most cases, bizarrely enough, whether it was the NICA 1990 or the S&P 2000 or the SP 2008, it was a March low and a June high. There are other versions, 1929 being the main example, where it went on for six months. So that would take us into August. So those are the two theories I was playing with, that the markets would start to top out as reality sunk. Now, the difference of the reality that I'm seeing is that we're moving towards something called the insolvency. So when you talk about where am I on one to ten? So I've gone from ten back up to five as we've had the hope phase. And I've now started to go with back down again as I start to see the narrative pick up that the economy's not going to recover for a lot longer than we expect. There's no stimulus around. And we've got more problems to come in Europe, the U.S. and elsewhere. And businesses don't have enough cash flow. They're closing in droves and that's what I call the insolvency phase. When you look around and you see things in your community, in your town, in your large city, wherever you're at, do you see businesses thriving and doing fantastic? Do you see new businesses opening up? Do you see people who are spending frivolously? Or do you see people retracting? Do you see businesses closing? Do you see different issues that are coming about just because of what has happened globally? For me, when I look around and I take a look at what's happening within my borders, I can only tell you that I don't see very many positive things. I see a lot of people that are very unsure, very uncertain. And when these types of things happen, it's really never a good outcome for a lot of things, actually. For expansion of business, for expansion of revenue, for expansion of or just having new businesses opening up. All these things just start to really retract. And when I heard Raoul talk about this, it only made sense that this is exactly as it's really kind of playing out. And I think this is one of the reasons why Warren Buffett took a lot of his money out of the banks, his investments in the banks, and put into things like gold mining. Because I think he's smart enough and he's been around the block enough to realize that, hey, this isn't my first rodeo. I'm taking a look around. I see some really bad things. And it's an unprecedented time. So we have an unprecedented time. We have a lot of retraction of businesses, businesses closing, a lot of different people hurting. So to me, it only makes sense and it really is playing out. Let me know what you think in the comment section, but that's just how I see it. So the next part is going to talk about all these different tsunamis coming to hit us. What do we do? How do we take up arms? And this is just an example of what Raoul Powell is doing. That said, is that what has caused you to take a substantial position in Bitcoin upping your state to 50% now? That has been an ongoing narrative. I've been involved in Bitcoin since I know 2012. It's been the ongoing narrative at the beginning of this. I knew the only answer would be cut all interest rates to zero and probably negative and then massive stimulus beyond anything which we've ever seen before. So the first phase I want to be involved in Bitcoin. So I bought into the sell-off, added to my positions, and now I'm starting to see the shift towards insolvencies. And the only answer is more from the central banks. So that's why I've started to buy more and more Bitcoin. Technically, the setup's right. Obviously, we had the halving and just the adoption phase, what's happening with institutions. It's like the perfect timing. So just so you know, when they were talking about it, you know how he had taken up his position substantially. The last one that I saw, he was at 25% of his entire portfolio was in Bitcoin and people were talking about, well, do you really want to do that into a very speculative asset? And he said, yeah. And then now he's saying 50%. And actually later in this interview, he's going to talk about, you know, I think it's actually more than 50%. So if you think about where things are moving, just look at people who have experienced a little bit what I would call smart money and just kind of see where things are heading to. And then the last here is he's going to talk about, this is when people talk about trading and they talk about, you know, I got wrecked or I'm very nervous or, you know, I had a big gain or whatever they're talking about. I just, I don't get into that. I just, you know, dollar cost average, put my money in. I'm very boring thinking about it. But boring works. And what he's going to talk about here is just the exact same way that I feel. And this is how I want you who are listening to this video to be coming up. You know, I asked Michael Saylor how he sleeps at night after taking such a huge position in crypto. So I'll ask you as well. Over 50% for you now, how do you sleep? I don't actually think about it. I kind of think that I don't sleep a lot. But also, I don't, I'm not worried because how I stretch my portfolios is when I take a big bet like that, I know that I've got 50% downside or so. And that's okay for me because the upside's so much bigger. Yeah, that's right. That's just how I feel. And I feel like, okay, I mean, everything could really start to crash down and it could really tumble. But the upside is so enormous. I mean, if I lose out, I mean, yeah, maybe 50%, maybe 70%, I mean, at the very most, but it's not like this market won't go up. Or I should say it'll always go up and it'll always go down because that's just how things work. But the upside potential is so enormous. There's no reason why I shouldn't take this opportunity. And I can only see where things are actually going. And a little bit, he's going to talk about, you know, his $1 million prediction, why it's going to happen, and then he's going to talk about, you know, the whole cause or the whole catalyst of what it's going to be. But again, when we see these huge swings in the markets, I just look at them like, all right, well, it's just Wednesday. I mean, that's just today. What's going to be like next week? What's going to be like in six months or two years? That's really what I kind of see. I don't really care about the day-to-day because I know where everything's going. I'm skating to where the hockey puck is going, not where it presently is. And I believe truly that these things, these digital assets and cryptocurrencies will take off. So let's break in the last part, which is kind of the most unbelievable part where he talks about a $1 million Bitcoin. But I mean, hey, look in 2010, 2011, when Bitcoin wasn't much of anything and people were just shocked that it actually hit, you know, it was one-to-one for the dollar. Imagine that. And then it went to $3 and then $10. People couldn't believe it. And they thought, it'll never go to $100. Imagine how laughable that is. But anyhow, just take a listen. You have one of the most bullish calls out there for Bitcoin, not just the a million dollar mark, but a million dollars within five years. Yeah, I think that's about right. And that, whether it's five years, six years, we're going to go through two of these halving cycles. And just from what I know from all of the institutions, all of the people I speak to, there is an enormous wall of money coming into this. It's an enormous wall of money. It's an enormous wall of money. Just the pipes aren't there to allow people to do it yet. And that's coming. But it's on everybody's radar screen and there's a lot of smart people working on it. So I think it's going to be, not because the world's collapsing, it's because there's going to be adoption by the real large pools of capital. So yes, he's exactly right. In 2017, in that bull run, infrastructure, there was no track laid down on it. It was just like I said, white papers and vaporware. And people were just kind of betting on it and gambling, really. And now it's been three years later, you know, coming up on four, and there's been substantial progress made. Not only that, look at all the people that are actually in this space. I mean, we've got Fidelity Digital Assets with eight trillion assets under management. You got TD Ameritrade with a paltry one trillion. You've got Van Eck, which were huge gold bugs and they put this out January 2020, where they talk about how Bitcoin is just running away with everything as far as as it compares to gold and how much superior it is. And of course we got Grayscale and everything they are doing, which is snatching up all the Bitcoin. And then just recently as a couple of weeks ago, we had Michael Sayl, the CEO of MicroStrategy come out and said, hey, we just put essentially almost half a billion dollars into Bitcoin because our fiat, our cash is on fire. And this is also a billion dollar company. So when you take a look around and see all the different things that are happening, I mean, it's just kind of all coming together. And if you're looking for these institutional players and all these big money people that are around there, take a look at Alex Mascioli's site. He is the head of the Quant Institutional Investing. He knows all the big players and he's got them all on his show. I love to watch his show for this specific reason. It gives us an opportunity to kind of look behind the whole curtain and see what the wizard's doing. And also sometimes I get to be on a show, which is pretty cool. Anyhow, that's it for that. So I'm just going to link this video into the description of this video for today because I want you to watch the whole thing. It's really good. It's got a lot of great information. And there's some things that Rell also said. He said that he's considering getting rid of gold and putting into Bitcoin. And remember, Rell Powell was one of those big goldbugs. And of course, why? He's going to talk about his stance on holding cash, how much Bitcoin is going to outperform gold. It's going to be massive. And the metric to check with banks is to actually see the collapse. Now, I can go through the whole thing, but Stansbury Research does a lot of good. They put out a lot of good information. And I've been taking from their videos for the last week or so. And I just don't want to keep, you know, taking and taking and taking. I want to actually bring you guys over there so you can get this video and many more like it because it's great stuff. And that's it. So let me just think of the comments section. Let's move on. Next up, our platform is moving from Ethereum to Cardano. It's an interesting one. Because it's from Charles Hoskinson. Some people hate him. Some people love. But in a surprise AMA, Charles Hoskinson answered viewers' questions. And this was in response to a question. And he just talked about convincing projects to get into Cardano. And he stated, a lot of them want to leave. I have 90 potential deals that are in my commercial pipeline. We literally cannot service all of them. So when I hear these types of things, I'm like, that's kind of a lot of hubris. That's a lot of herp hyperbole. I don't think this is real. I think it's an over-exaggeration. But Charles Hoskinson, he's just one of those guys that is very boastful. And it could be. But when we get in the article, I kind of see the whole rationale behind it. So just to clarify, he said, I didn't say 90 coins want to move over because everything's built on Ethereum, right? You're actually 20 tokens. He said, I said that the commercial team has 90 potential deals in the pipeline. That said, ERC-20 converter should easily push things in this direction. If you don't know, Cardano has come up with a format to change over ERC-20 tokens onto the Cardano network. So it would essentially take away the business from Ethereum. And that's what technology should do. It should just get better. And if they can scale like they talk about scaling with Hydra with their 100,000 transactions per second, then, hey, Cardano could be a big winner. And this is why I hedge my bet. I don't put everything into Ethereum. I don't put everything into Cardano. I don't know which one's going to win. But, you know, I have some guesses. So I just kind of disperse it amongst them and see which one wins out. And yeah, this article states Cardano is in a good position. News of the delay to scaling ETH 2.0 is released. Indeed, many Ethereum-based products will be looking for alternatives. And this was a problem because ETH 2.0 needs to happen. It needs to happen because we just saw what happened with DeFi. The transactions were super slow. The prices went to the roof, and you just cannot do that. And that's just with a little bit of our sector. What would happen when, like, bigger players come in and then everything crashed and then the prices quadrupled, you know, or something like that? That just cannot happen. And we saw what DeFi did in a month. Can you imagine what this space will look like in two years when Ethereum gets everything going? Now that I just say that out loud, that sounds pretty scary. I mean, two years to get things going in a space where everything happens in weeks. This is not looking good for Ethereum. That's all I will say. Am I going to pull my money out? No, probably not. There's a lot of good people, a lot of smart people on that platform, but who knows? That's why I'm saying this tribalism that everybody has, like, you've got to do this one. This one's the greatest. Just calm down. Just calm down. I'm a big cheerleader for everybody. If whatever cryptocurrency comes in, I'm super happy, right? Water rushes in, all the boats rise, all that good stuff. I just don't see the whole point of tribalism, which everyone wins, wins, and so much the better. I got a lot of different stakes in the fire, and I don't have to be right on all of them. I just got to hit one. Anyhow, to finish up, states here may have already begun happening as can be seen from SingularityNet's recent move to Cardano from the Ethereum network, citing the timing of the rollout of different aspects of ETH at 2.0, as a concern, of course. If it's going to take a year to lay, it's not good. And if you don't know, Singularity, or SingularityNet, it's a full-stack AI artificial intelligence platform that lets anyone create, share, and monetize AI services at scale. They're actually the company behind that, that robot Sophia that looks really freaky. But, anyhow, the potential move to Ethereum is driven by concerns around speed and costs that have been badly affected lately by demand from V5 platforms with gas peaking as high as 17 per transaction. The team also doubts about the feasibility of ETH 2.0, which has been in development for the past few years, but is still some way off of being a practical solution. So, if you think SingularityNet is actually looking at this and going, this isn't a good idea. We're going to jump ship. How many other projects are doing the same thing? Because, look, we know how fast this sector moves, and if it moves as quick as DeFi does, I think we're going to see a lot of people jump, a lot of projects jump ship. Let me think of the comments section. Let's move on to our last story. Next up, and this will be quick, immediate $1200 stimulus checks. President Trump calls on Congress to pass standalone stimulus bill. So, why did I bring this up? This isn't a political channel. Well, obviously, we saw what happened just with a tweet, which happened yesterday. And it wasn't just what happened to the cryptocurrency market. All you have to do is take a look at the traditional market. This is the S&P 500. So, this is Tuesday, October 6th. Everything was trucking along just fine, around 11 o'clock, 11 a.m., 12, 1, 2. And then there was a tweet, and then this happened. Now, there may have been other factors in play. I'm not for sure, but I tend to believe that this had a small part to do with it when the president walked away. Now, what do we got? On the opening, 10-7, especially when the news broke that this could actually happen. They might actually get a stimulus package. Look at the market. Like, nothing happened. No big deal. So, I can just say this about the whole story. I'm not going to read the whole thing, because it's kind of boring. What it's all going to come out of is this. If the stimulus package gets passed, traditional market go up, cryptocurrency market go up, everybody will be happy. If it doesn't, then both will crash, and it will only make a big difference in the long run. Because again, I look at these markets, and I think to myself, you're just delaying the inevitable. I don't know what's going to happen in the near term. I only just look out way far ahead, and I can see where everything's going. So, even for this whole time, until the election, it's going to be super turbulent. You're going to see big dips. You're going to see a little bit of a rise, but there's so much uncertainty. So, I just expect it. And it's always interesting to see what the market does. But what I'm looking at is the fundamentals. I'm taking a look at how is the market, how is it moving, what is happening behind the scenes with the projects, how are they building relationships, how are they building teams, how are they building the infrastructure, what is going on, and is big money behind the scenes actually moving in. And I can say, all those things are true. So, again, not a big deal what happens in the short term. I can see this really collapsing. I do not think that we will have this actually passed. I think it'll be a political football game, and I think the Democrats are going to punt. So, that's it. So, thanks for sticking with me to the very end. Just want to do some random shout-outs for everybody who has signed up for Digital Asset News. And that is, I tell, sure, Steve Erlich, Pack Bid, Tavi Makanu, Book Up Travel, Chelsea McShane, Jeremy Schwartz, Sam Donald Francisco, Chuck C., and Dreamer. So, thanks everybody who has joined up. Really appreciate it. If you like these types of videos, there's going to be two more on your left and right. Don't know, because I'm going to have YouTube just do their thing. And that's it. So, thanks again. Really appreciate it. See you on the next one.