 Hello everybody and welcome to Friday's live stream. We got a lot of things to talk about. So let's just jump right in So first thing thanks for stopping by. I appreciate it But today been a pretty great day so far as far as the market goes I mean we've had quite a Run-up and it looks like everything is well not everything but most of things around the green these the days that I actually live for They're great. We've had quite a long bear market. So just enjoy the bullishness and now I personally think we're in a any bullish market, but Things are doing pretty well and of course everything kind of starts off with Bitcoin and we can see that Honestly, I mean well BNB is down because you know CZ had to step down and Department of Justice kind of got him for the anti-money laundering things XRP down a little bit Sloan is up one one one two point nine, but the big news I think is this This 1.5 trillion our market cap finally finally Hit where it's supposed to be $35 trillion and I think this is like one of these psychological barriers And I'm happy to see it finally to actually come to fruition because we were sitting around one point four three One point four four forever and seems like we broke through now taking a look at this we can see that Bitcoin today Knocked into the 38th range not just 38 It was a 38,307 pretty well like little little double top here And then it it crashed down because people gonna take profits now You have to understand if you don't take profits Somebody gonna do it for you and that's okay Some people are not here to trade little bits from 38 three to 37 six and whatnot But I'm just telling you if you are here for that just know that's what's gonna happen me personally I'm waiting for quite a longer time. I'm more of a dollar-cost average or kind of cycle trader But that's what we have and then of course people take profits and it comes back and down and things are looking Pretty good and people are happy. So the question is why why is all this happening? Well, you have to understand most of it's sentiment. There's a lot of great sentiment out there a lot of people are very happy Another thing you have to take a look at miners Miners if you don't know or as far as like Bitcoin miners are the ones that are kind of like pushing the show They're they're the ones that are working the magic and pulling the strings behind the scenes for what is getting dumped onto the markets Because let's be honest the Bitcoin miners the ones that actually pull a lot of that sweet Bitcoin For all the mining processes they do and they have to keep the lights on and what does that mean? They have to sell Bitcoin, but what's interesting to me? They're not selling that much So this is from coin desk Bitcoin's hash rate war between ant pool and foundry intensifies as Bitcoin ETF nears And I think what's happening is that they're not selling as much because they're retaining it for the narrative Which is the ETF maybe some more monetary policy easing made a little quantitative easing Maybe a soft landing, but I found this interesting that and talks about how ant pool and foundry Dominate Bitcoin mining analysts expect intensified competition between China and the US as next as next year's reward having approaches We're looking around April or so per cup in the comments section 2024 Having could spur demand for advanced mining rigs and affect market prices with miners likely holding on a Bitcoin to space of ETFs and again The two big dogs out there are ant pool and foundry foundries in the United States and it holds 26.56 depending on the day that you're looking at an ant pool is 27 one eight five and pull coincidentally is located in Beijing China Beijing China as I understand it Bitcoin mining was banned so I don't know what exactly is happening But that's what it is But as far as like miners they tell me they go Robbie don't understand as if I have a mining rig And I want to connect to an actual mining pool. I don't have to be in China I could be in Ireland I could be in Kansas I mean anywhere I want to be and it's up to me to decide where I'm actually going to input as far as like my mining rigs For this mining pool so ant pool I mean, I don't know if they're actually mining, but there is that is the pool that People are connecting to to mine Bitcoin for whatever rates that they get great And then of course here's foundry with 26% of the market share But again, it's very interesting that there's just such a large amount And just these two categories kind of concerning me personally Let me understand about like in the comments section, but I just found it interesting that ant pools open in Beijing China, but whatever So while many argue that the having is bullish for Bitcoin's price Some also say a significant bull run is more likely to depend on central banks their M2 money supply we'll take a look at that in a sec and There was a quote here. It says we expect miners would only sell just enough bitcoins to keep the business operating Before any Bitcoin ETFs are approved just to keep the the coins and borrow to pay because if you think about it Why would you sell right now? And again, I'm not saying for you I'm just saying for the miners in general you sell right now and Bitcoin is like we just took a look at 38,000 But maybe after this ETF gets approved if it does get approved now We start to see the in the 50s and the 60s So why would you sell right now especially just to keep the lights on? I think what's happening is that you're seeing less and less selling Because there's an anticipation of what could potentially be a breakout the having event will double the production costs though So it's in the miners best interest to get the latest miles of machine to lower the cost earn more market share So they still have to sell a little bit. I don't think it's they're selling like massive amounts like what you may see as Time goes on and there's a great chart to take a look at to understand The pricing action of the Bitcoin miners. This is from looking at Bitcoin comm It's a free website link in the description and what the Sorry, this is supposed to be pull multiple. We'll talk about the Bitcoin hash rate First of all, I put this up there for a reason when they talk about how there's a there's a war right now Between and pulling foundry. You better believe it. Look at this hash rate. We just hit an all-time high Yes, two days ago. Just guess just two days ago. We hit an all-time for the hash rate That's the computational power. It's being used To mine Bitcoin and there is a race going on There's a lot of big money Who are into the Bitcoin mining operation and they think that it's going to do something big? And maybe they're putting all the money into it because of what's going to happen next year Now we get in the poll multiple like we were supposed to The poll multiple is pretty great because you can take a look at it's a it's the supply side And it takes a look at Bitcoin miners and revenue It's calculated by dividing the daily issuance value of bitcoins by the 365 day moving average So what these miners get as far as the value? Divided by the moving average of daily issuance and what's great about this It's just it's one of those indicators that I used in my 80 percent sell-off video and links in the description For that video when I'm going to sell 80 percent of all my crypto And it's one of the indicators I use and you can use for free To see when things get a little bit overheated and you can see right here that in 2013 it pretty much nailed it Actually, let's go back. 2011 even nailed it. I mean Dan 2011 2013 it was a double top 2017 pretty much topped out in the red did pretty good. Now you'll see over here. It didn't do a great job As it did before so it actually thought We started to get in the red area in march 14 2021 and the price of bitcoin at that point was 59 000 now You could have went here and go okay. I'm going to sell some it's a pretty indicator when it gets in there Like that's why I like looking at bitcoin because I'm not a genius I need colors. I need people to dump it down for me So when you're in the red, it's overheated. You know, I should sell some and when it's in the green Like it's kind of cooling off. Maybe I should buy some and then I just kind of go from there So for this one, you might have looked this and go, that's a pretty good idea now as high as we're at Again, the hash rate is an all-time high, but we're dividing that by the daily issuance And the three and six by a day moving average So we take a look here. I mean, we're right in the middle We've got a long way to go before things top out, but it's something to definitely take a look at It's something I think everybody should take a look at if they're deciding on when they might be actually selling So there comes that and then there was that one piece where they talked about the m2 money supply because a lot of people Uh, actually me myself and I actually and ben and guy We kind of agree that uh, you know, when there's more liquidity in the market There's more people that are more willing to buy crypto and the gel assets imagine in 2020 when we had a run-up of Trillions of dollars being dumped in the market by the good old us treasury because of this thing called a corona sickness or the survey survivors And then we had a bunch of money come in And it was a big run-up, but I want to show you something This is the m2 money supply We can see that Since its inception as far as bitcoin goes when it started actually tracking actually bitcoin was in 2009 2008 was the white paper 2009 was the genesis block. We can see in 2010 there's quite a correlation between The m2 money supply as it goes up and the price of bitcoin if we look at a gist in like a in like a line We're like, yeah makes sense, right? But I want you to take a look at this a real hard look at this So as this goes up things get overheated, right? I think things are overheated Especially in 2011 it got pretty high a whopping 35 bucks watch out But you see how much it dropped off It dropped up precipitously and now it went down to three dollars. That's quite a dump 30 that's like 90% But the money supply went up Why did that happen? It just happened because things got overheated And then of course we come over here it ran up and it dropped off a little bit the double top as I talked about And it went from one thousand dollars and a bottomed out around 200 bucks But yet the money supply kept going up So yes, it is true That when we have more liquidity in the markets we see things But that's not the end all be all and it's the same thing with the having It's not the end all be all like everything is like perfectly timed around the having I personally believe in the four-year cycles But I'm flexible enough to say hey, you know what when things change I'm going to change And that's what it comes down to so of course we look at this and of course in 2017 what happened it went it just it got overheated and I'm just going to tell you guys a a secret that's a pretty It's a pretty well-known secret Which is this people are going to tell you in the next bull run that things will never come down And it's awesome and because of this great technology that people are going to buy forever because now people just get it in mass adoption They're full of it Because I heard that same narrative in 2017 and I know you heard that same narrative in 2021 And now here we are again And we're down So it's not a super cycle. Nothing goes up forever And just remember that at some point you may want to take profits now if you want to you know diamond hands it And wait for 10 20 years You'll probably be way ahead quite honestly because bitcoin's only gone up But again, maybe there's some things you want to do. Maybe you want to pay off some bills Maybe you want to do something to I don't know. Maybe you don't like living on a cardboard box Whatever so in this situation, maybe you take some profits But again, I just want to show you the m2 money supply that yes, it does go up. Yes It's greater than liquidity, but even as the money supply went up Bitcoin still went down in some instances Anyhow, let me just think about that in the comment section and then also Ethereum because we're gonna talk about bitcoin and we should talk about Ethereum It's the one two punch seems like and this is a article Talks about how a therian price reclaims 2k as data shows a surge in network activity first of all Is that even true? All right, it's true 2088 It's up 1.2. But almost 8 percents per seven day and actually, you know what I'd like to see There is it Ah, there it is Let's put this all in bitcoin You know, you can take a look at what's bleeding against bitcoin just by putting everything in bitcoin So like a therian, we know it's up. I mean it's up for the seven day against bitcoin 3.5 percent But most not most but some are down a lot Like they're up against their dollar pairs. But look at this red It's just something to consider except for CASPA. Congratulations CASPA holders And it's just sprinkled around and bit denser. Wow, look at that So anyhow Ethereum and I'm not going to go over the article because it's kind of boring Let's just take a look at the network activity, huh? So first of all, I would like to take a look at ultrasound money This is what it takes to look at as far as uh, if as Ethereum starts to get used and of course more things get burned and then Now that we went from proof of work to proof of stake It is now they say deflationary And I'm taking a look at it over a day. It's down 0.189 percent. Not bad. Let's take a look at seven days make a 0.32 30 days 435 days And actually the supply chain that's a lot 277,000 And then of course over all time we can see that since the merges it's gone somewhat deflationary But there's a great little tool right here where it says simulate proof of work Check this out Let's go back So this white line here is if everything would have stayed in the proof of work section if we just said, okay Well, let's not go with a proof of stake. What would we have done? How inflationary would it would have been? Well in an hour, I would when I went up 3% In one day 3.19 seven days 3.06 30 days and you can see the difference here It's not like a ton But it's quite a bit to say to yourself. All right. Well, it's a little bit deflationary. Although, let's emerge Not as much as it should be as far as burning goes But again, I think it's an interesting piece that's uh as more people use ethereum more gets burned Now the question becomes that's just burning part. What about tvl a total volume locked up? Well, we take a look at defi lama We can see that not really if we just take a look at this huge graph This is the tvl for the total value locked for all chains ethereum tron bsc arbitrum and so on so forth But if we zoom in let's see let's do ethereum There we are If we zoom in because of course tvl was way way more back in 2021. We had all-time highs, right? But that's not we're looking at we have to be cognizant of right around these days, so let's take from the last till july or so Well, it's gonna zoom in even more Let's take october so September 3rd, let's just take september right september 2033 you had 27 billion of tvl And we had a little bit of a dump 25 billion, but today Yeah, 35 so there's I guess You know eight billion more. So I guess there is a little bit more activity That's the things we want to see and the question that I have is that's great The tvl is there and we have more transactions, but you know, how much is that and how much can that be manipulated? What if we take a look at? The nfts who's buying nfts and then we'll get to the fees now This is interesting if you go to cryptoslam.io and take a look at the amount That's being traded for nfts sales volume. Look at that sales volume 13 million. This is just in one day. You can break it down by 2407 and 30 days in all time For the sales for just one day you got 13 million. It's the highest out of all the chains But if you just look to the second slide here our second second column You see wash And you see total you like hold on doesn't make sense. Why is the sales 13 the wash 23 in the total of 36? Oh, it's 63 or wash sales. What are wash sales? Great question What's nft wash trading wash trading is when the buyer and seller in a transaction are the same person or two people colluding So let me say that again Wash trading is when the buyer and seller in a transaction are the same person or two people are just going back and forth It's banding conventional financial markets because it misleads the rest of the market about the true level demand Is dips distort prices and entices others to trade or fake information? I gotta tell you that's Pretty much true. I think it's just telling. This is just the nft side I'm not gonna talk about the transaction or anything else But you can see that the wash percentage is the highest and the second highest is polygon Which is the layer two for ethereum, which makes a total sense, right and the third highest I believe is avalanche. So Hey, what are you gonna do? So 63 of that is wash trading and but look at this I found this interesting too the sales the total sales of nfts on bitcoin called ordinals The wash is only 0.05 and they got a volume of like I said 9.4 Almost 10 million. That's pretty good For of course, it's eating up the transactions and everything else, but I like it. That looks pretty uh For what we want to see low wash trading and high volume fantastic. Then the last question is this What about the fees? What about the fees? The fees themselves or what I think are the most important I mean we can see the tvl and the things that are actually Flowing into there and the amounts but uh, this is paying for actually paying for things and actually using it The first thing I will tell you Is that ethereum and bitcoin are always on top and they're fighting for that supremacy as far as like fees Especially with bitcoin and ordinals, but today We have this thing called kyber swap and the one day fees are 108 million 486,743 So we'll get to that in a second ethereum still has pretty high fees bitcoin still has high fees and uh, you may have noticed that when you've been swapping or moving bitcoin that the fees are kind of outrageous That's just how it is But this thing right here kyber swap It can it confused because i'm like why is kyber swap Number one in fees. This doesn't make any sense This is why it makes sense Dear kyber kyber swap elastic users We regret to inform you that kyber swap elastic is experiencing a security incident First of all, what's kyber swap? It's the cross chain decks and aggregator on 15 chains Maybe the users to trade smart and maximize earnings. Well, that's not great another hack for another dex And it seems like this is a almost an everyday occurrence every week occurrence. We'll say So if you're in kyber network and have anything on there, be careful because they probably lost a little bit As a precautionary measure, we strongly advise all users to promptly withdraw their funds. Our team is diligently investing in the situation We commit to keeping you informed with our updates. Thanks for understanding. Yes. Thanks for understanding You trusted us and uh, we let you down. So bum bummer Here's what's going on This was actually yesterday Uh kyber swap hacker openswords for negotiations after the 45 million dollar exploit So as far as the fees go i'm not exactly for sure why this is uh putting it this way or Or what was actually happening, but uh, it looks like Well, maybe this will make sense in a second The kyber swap hacker has shown a willingness to get to negotiate if exploited the essential exchange for around 45 million The attacker publicly messaged message kyber swap. I gotta tell you this is a ballsy move You just ripped off people for tens of millions of dollars and you send them a message Dear kyber swap developers Employees dow members and lps Negotiations will start in a few hours when i'm fully arrested. Thank you for understanding After i've ripped everybody off now. Maybe he's a white hacker and just wants to do a good thing Just like hey, just give me an nft or something, but hey, whatever. I mean uh, people have bug bounties and uh, they pay hackers all the time So that's just a part of the course and it looks like people might get their money back But uh, here's how it's done Blockchain security firm cybers alerts estimated the theft to be around 45 million across different chains 20 million in arbitrum 15 on optimism 7 million ethereum 2 million in polygon And 300k and base not too bad attacker was funded by the virtual cryptocurrency mixer tornado cash great More ammunition for politicians then adam cochran a partner at uh sinny me sinia I'm not gonna try it ventures suggest that the attack was a flash loans and some sort of math rounding issue Each transaction is starting with an ethereum balance coming in Looped mint redeem swap. You know what that means lots of fees. You know what that happens They just wrapped that kind of fees insane. So that's all we have For kyber swap. I hope you weren't affected than that and uh you know That's just par for the course. I think we're gonna see more of that as time goes on Especially with dex's becoming more prevalent because I personally believe that the next narrative is going to be for the next bull run Gaming ai and dex's. I'm gonna tell you why we did a video yesterday with uh, me and she hand she and chandra's cara. He is uh One of the top cpa's over there a coin tracker and uh, we did a video about What's the irs rules are for a broker dealer is? And uh, this was just yesterday pretty good video almost had 56 000 views a lot of people were I thought it was interesting that a lot of people watch this because it's all based on uh taxes and whatnot But the big the big takeaway was this What the irs wants to do is they want to do uh kyc and aml on all wallets Any wallet that's out there, especially in that you can swap especially with dex's They want to get kyc. They want to have know your customer anti-money laundering on everything out there So all these wallets that you're like you're using and moving over things around guess what they want to know what that is And I think with these types of things that are happening That's just more ammunition for what's going on and I said in the video I think I said I think there's gonna be fallout from this because And this is just in america. You have to understand americans, you know usa. What are you gonna do? Because of this It's a brain drain from from america a lot of the different projects don't want to deal with us A lot of dex's don't want to deal with us because we're just too much of a hassle And this is the problem. This was a choke point. This is one of those things I think that they want to put in place They said they want to protect us. I think in all honesty, they just want to protect the dollar and they want to protect Uh the massive amount of inflows that is traditional finance and I said there'll be repercussions and I think this is one of them So lightning wallet, uh, they quit the us why probably because what we just talked about over here. This just came out today So wall of satoshi has removed has removed itself from the us apple and google app Confirming you will not serve customers in the country going forward They didn't spy didn't specify the reason but come on america's sucking right now for the decision But sought to assure existing customers in the us that their funds were safe and available to transfer to wallets But again, we don't want to serve you because we're sick Of you garys protecting you guys so hard So let me just think about that in the comment section and that led me to the last piece We'll talk about and we'll get in the q&a dexas so First of all, i'm in portorico and thankfully I can use this great dex called orca It's orca orca.so and it runs on saloon. You can do a bunch of cool stuff I mean you can buy some i mean everything that's on saloon if you're into that But look at this now with these network fees. It's so it's so fast like if you use uniswap That's it's kind of cumbersome But this one's very smooth and I was just comparing the fees So the fee is point zero zero zero two which is fractions of a penny And I took a look at uniswap and of course. Yes. This was layer one Look at these gas fees for eith 22 bucks. Get out of here. That's crazy And then this one was min swap. This is on cardano and of course The the liquidity provider fee is not bad. It's uh, 0.12 ada Which is nothing really because ada is like around 39 cents right now But the bachelor fee is two ada and that's roughly 78 cents because 39 39 right and then of course you put 12 cents on looking at 90 cents somewhere I mean not at 0.12 ada. Excuse me So, I mean that's not too bad. I mean for what it is So that's probably like one of the better ones and then also If even if you take a look at some because some people said but rob, you know Layer twos if you're gonna use uniswap use layer twos and move things around and it's true It's only like nine cents or 10 cents But again, I mean if you want to do that as far as like price goes I mean the orca still beats beats these You know 10 cents and who knows if it gets congested I mean not just more than a week ago mattoch had some of their highest prices Which was like I think it was like over 20 cents Which we we think oh, that's not too bad considering gas fees But as time goes on and things get more congested I think the prices will go up unless they can fix that with you know rollups and such But if we take a look at this and people say well, but l2's are so much so much more cheap or cheaper However, yes, but you understand to swap and to bridge things over if you have to Like it's you have that same problem if you're gonna go from from layer two and you and you pick up things on On polygon whatever that is. Do you want to bring it over to to the ethereum side? You're still gonna pay not all the time if you're just dealing in I mean on the polygon network, but at some point when you want to sell things you want to move it over I'm just saying it is one of those deals. So that's what we have for that again the narratives ai gaming and dexes if you'd like to Delve in that more a little bit about what to potentially invest in and do your own research because I can't tell you what to do Go to coin gecko click on categories I mean you can be here. This is the main thing categories Categories there we go And you have coins that are centralized exchanges and you get to centralized exchange coins And then click on that and of course I have everything in bitcoin. Let me change that back real quick Oh, no, I haven't USD And you can see some of the top top ones out there uniswap Thord chain synthetics dy dx pancake curved out gnosis osmosis one inch one inch Pretty good blueprints sushi balancer and so on and so forth. There's orca 247. Damn those up 20% in a week. Pretty good anyhow So let me know what you think about that in the comments and then of course all these things that we're talking about It all comes down if you're gonna use a dex the reason why you're using a dex because you don't really like centralized exchanges are sex sex Not sex And of course you want to take that off because you Follow some of the rules that I put out Which is the third rule number three is zero percent on exchanges. Why do we do that? It's because I think most of us learn our lesson either through mount gox Or voyager or celcius or block fi take your pick Ftx all that good stuff So you Want to do that and maybe want to use a dex because you have everything in crypto You know how you don't need an on off ramp all the time So use a dex I will just tell you like this if you're looking for a cold storage wallet I just I'd use a ledger today. I don't know why the heck I ever thought that was a good product It is the most cumbersome thing to to use And it's just very clunky. I think this one is of course the future. I don't even have a ledger Link anymore. I have no affiliation with tangem. They don't support the channel But I do have affiliate links and now they're having a Probably a black friday sale So if you use the link in the description get 10 off three cards and two cards also as a reminder They're not only doing where you put the private keys in the in It's actually embedded into the cards, but you can actually do a mnemonic phrase or a seed phrase That you can write down somewhere And if you need to write down your seed phrases Don't be like me and put your cardano seed phrase from the test That from the test net onto a scrap of paper in the lose 20 000 cardano Which would have been worth 60 000 dollars at the very peak if it would have had them But I lost them because I lost my mnemonic phrases Use a shield folio and today I'm sure you guys are getting bombarded with black friday offers. So I apologize, but this is a really good deal today instead of paying 45 bucks for one At 35 dollars for one and if you put in the code dan you get seven dollars off that and it's 28 bucks and It's a buy one get one free. So you get two books for 28 bucks and all you got to do links in the description There's tangem. There's my deep dive video. You can understand it and then here's uh The stone book or shield folio right there and that's it for today. So look a lot of things to go over A little bit long. Sorry about that, but if like today's video give it a thumbs up consider subscribing. How many talk about his Time sensitive in there. So thanks. I appreciate it