 I've streamed thanks for stopping by today. We've got a lot of things to go or so let's just jump right in So as a thumbnail title suggests, it was a pretty good interview with Kathy Wood from Ark Investment And you know, we had just talked about here yesterday as she had sold off some of her positions in Grayscale Bitcoin Trust, but this one it was it was in eight minutes She broke down so much information I had we had to do a double dose of Kathy and what's what she actually had to say So before I jump into that just so everybody knows if you're not paying attention I know a lot of you are but it looks like inflation's going down. So this is good news I just rely on Ben to give me the information because I'm too lazy to look it up But yeah headline CPI just get headline CPI 3.2% looks like the expectation was 3.3 So we're down a little bit and that's the government's expectations. So not too bad And of course CPI is at 4% and of course that strips out Food and energy and the expectation was 4.1% So things are going in the right direction even true flation It looks like we're actually merging or coming and kind of closing the gap. So Maybe somebody's right. Maybe we actually might actually hit a soft landing But we'll see how that goes as time progresses. So that of course is the macro events. Everybody's happy fantastic This Was fan was fantastica I guess I could say and this is Kathy Wood head of Ark Invest And of course they are up right now for their ETF and the ETF schedules looking like this doesn't look like anybody's going to be approved this year But you know, there was a just a post just recently that all of these could have gotten approved within like the last Eight to nine days. I don't know if that's going to happen But we are patiently awaiting it over Ark 21 shares their final deadline is january 10th And uh, that will be their final deadline I think it's interesting to see if if the sec bypasses them and says no or approves every single one And if they don't approve ark, uh, the next one will be black rock in march 15 I just think myself wouldn't it be interesting if the sec just bypasses ark and approves everybody else? I don't know Uh, I mean only time will tell no one has a crystal ball. Although there have been some reports that this is going to happen within 90 percent People confidence saying that that definitely will happen. We will see but Kathy today. She talked a lot of things in eight minutes And one of the things she talked about she talked about a spot ETF as far as like retail versus institution How likely the sec is to actually approve? She even talked about why they haven't approved so far and the thing that she said is exactly what I've been saying Moving forward and then of course The big thing that people talk about is are we talking about buy the room or sell the news and and a couple of different things And also about a super wallet So I want to go over these all these things in detail. There is uh six different pieces I have broke down so you don't have to watch the whole eight minutes But uh, this first part is spot ETF and the difference between uh, retail versus institution So, uh, first of all, let me let me stop That's great And let me actually share this you can actually see it and the tab itself want the audio to be crystal clear So you can hear this. So just take a listen. This first clip is about 20 seconds or so so I think uh, these these um strategies will be more probably institutionally focused and and I think the the spot coin uh, bitcoin ETF will be perhaps more retail focused. Is that something you want to do eventually? Uh, uh a spot bitcoin. Yes. Yes. What's interesting about it is if you look at the pecking order Our filing is next in line. No, I know you're you're Oh, I know I know you're next in line. So yeah, I just wanted to bypass that real quick Yeah, and again, it's very interesting to see what'll actually happen. So If the sec is going to approve it I think I think they have to really improve it in january So be wouldn't it be interesting though them just kind of bypass arc and just go Okay, everybody else has approved bad. We'll see that was the first piece And the next piece is how likely the sec is to actually approve this and there was some pretty Great insight for what she's having what she has to say because remember her company Her investment company, uh, they are on the front lines of goodness actually approved and what she says about what the sec is Actually doing maybe say, huh? Maybe i'm wrong Maybe they will actually approve it just because of how stringent and how focused they are just take a listen This is about a minute or so The change is that the sec actually asked us questions. I think asked us questions asked black rock probably has asked a lot Whereas before our filings were just rejected at right, okay So that is movement that is significant and you know over the years I've gotten to know the research people at at the sec and I'm very impressed and I was impressed by the questions. They asked us too. So What were the kinds of questions they asked? A lot of them were very technical. They're all about protecting the consumer and you know, of course Uh, the the the showstopper at least from gary gensler's point of view is he thinks Bitcoin can be manipulated and you know, this is a decentralized transparent network You can follow you can follow all the activity online. It's highly unlikely And she's right. It is highly unlikely And uh, that is a lesson actually for senator elizabeth warn as she brought that nonsense to congress where she said that's All the different terrorist groups, especially hamas was actually being funded by crypto angel assets And they were using a ton of it and I said I've been saying this for years that if you're going to do anything As far as like illegal and as far as like if you're doing if you're like a cartel A legal operation or a terrorist the dumbest place you could possibly do that is on an open immutable ledger for everybody to see But hey, that's just me So again, like when she talks about those things and she's like and she's saying that hey, they're very being very stringent They're really asking us some really smart questions They're trying to get us to give them the best feedback and these researchers are very precise and concise And what they want to see and I think to myself and we all know my position here My position is I'm like, I don't think it's going to be approved because it hasn't been approved And I've talked about this at length because I think gary works for the white house He works the by an administration the by an administration. I actually hate bitcoin and cryptocurrency digital assets There's multiple ports that have come out That's my my my philosophy everybody else is like no, it's going to be approved and like I've said before Hopefully it is approved. I would rather be wrong And rich than right and poor. So I'm hoping that it actually does However Because of the insight that kathie actually has they ask her a very smart question Well, if they're doing this much work in this much effort Why hasn't them been approved already because it seems to me that if gary Taught crypto and digital assets at mit to a vast amount of students. He knows exactly what it is. He knows That if you can actually get in there and if you can manipulate the blockchain hint, he can't He knows as far as manipulation goes. So why is he pushing this back? This was a great response and this kind of optimized. I'm like, yeah, it's exactly what I've been saying So just take a listen to this next piece. This is about 30 seconds or so About why gary and the sec will not approve The spot ETF take a listen Could be that because he taught he understands kathy. He's got enough Not not many people do a lot of people don't have enough knowledge about how it works To make an informed decision about bitcoin. He taught at mit about so he understands That it's not a Ponzi scheme or a beanie baby. So there has to be Something else. Well, I I don't know what it is. I have wondered there's speculation That he's interested in the treasury secretary position at some point. What does the treasury secretary Protecting fiat from the government. I mean it very focused on I don't know I don't understand it myself because he definitely understands. So it's there's something else There's something else and that's what it was Look everybody's saying everybody says that that gary is is a puppet of black rock and he just a money Hungry person and I'm like I'm telling you right now gary made a boatload of money. I don't know if he needs more money I don't know if he needs but you know what people can never Satiate their appetite from his power and position And what she just said was made a lot of sense to me when she's saying that yeah He's jockeying for a position for yellen's position is in the treasury and he wants to move up And maybe he wants to do something else. So to do that. He's got to serve the almighty master Who's the almighty master? I'll let you decide who that actually is But I will just Share one little piece here and when she talks about the dollar and the strength of the dollar and and of course That's what they want to prop up yet. Remember The dollar or the dixie itself I mean it's seen better days And with the amount of debt that the united states is actually in and undergoing currently It would be who the dollar and the government to make sure that the dollar remains strong I pulled this data from ben's website. This is The dixie which is the strength of dollar versus versus a basket of different other currencies And you need to see that this right here in the blue is bitcoin Not only this is the strength of the dixie the dxy and you can see it's almost Perfectly inverse. I'm not saying it's perfectly inverse But it is pretty diverse when the when the strength of bitcoin goes up The strength of the dixie the dollar goes down when the dollar goes up Bitcoin goes down when bitcoin do you get what I'm saying here, right? I'm not talking to myself. So When we take a look at this, I'm like that makes a lot of sense Now is that the only thing can gary push back the tide which is the inevitability of a bitcoin spot ETF Not forever But the question is can he push it back long enough past january and past march I don't have an answer for that because I don't have a crystal ball Let me know as you think about that in the comment section and then To finish up with kathy. She had some really good points. I never even thought about which was she's talking about a super wallet and She's talking about a super wallet. She talked about is this a buy the rumor sell the news so take a listen to these these two pieces this one again, it's about a minute or so long And you make the this you make the call on this one about if it's buy the rumor sell the news or not Anticipation and there could even be a sell on the news But the fundamentals we put out a bitcoin monthly piece every month And you can see the health of the network using our on-chain metrics the health of the network is Almost as good as it gets and it seems like this is a bull market. Sure. We'll have puts and takes nothing goes straight up But I think this flight to quality Larry Fink used that expression We call it flight to safety you look at what happened during the regional bank crisis Bitcoin went from 19,000 to nearly 30,000 As the the kre the bank the regional bank stock index was imploding if you look at the bank Stock index today. It is back down close to where it was in march So when uh when larry might say flight to quality, which is good. It's true We would say flight to safety because there's no counter party risk in bitcoin in terms of the etc So I got to go with that and then like she said, you know, it's not going to go like straight up in a line Nothing ever does even in the the bullish of bull markets There's always going to be a little bit of pullback and a little bit of stagnation a little bit But I think this will be good I think that will potentially be a buy the rumor sell the news but in the long run I think we're all in the right place at the right time and in this part was the most interesting I had never thought about this which was she talks about super wallets And beforehand in this little clip, but I'm going to skip this part where she talks about coin-based robin hood twitter Or now it's called x square and other different banks across the world like in brazil new bank And she talks about the ones that will actually make this super wallet will be the big winners And I thought to myself that was a pretty damn good observation. So take a listen to this one and tell me what you think Think that each of them has a very good opportunity in the digital wallet space Basically, if you think about we chat pay that kind of digital wallet where all financial services take place There's peer to peer interaction. There's commerce over it We believe that um, you know, the rails in the united states have been good enough But uh, we chat pay showed the way and I think we have but is that a one player winner meaning, you know And by the way, you know on musk would like to be that winner with x if you could be absolutely Absolutely, and you know, I think he's got big plans. Absolutely. He started in the fintech space and of course sold out to PayPal. So so Right there. That was pretty good And if you read between the lines of what she's talking about the super bank or the super wallet is going to be the big winner and So i'm an american And I am uh an unapologetically proud american But there's one thing that we lack and that's a super wallet like say a we chat and when we take a look at it Like if you're in america, you may have never seen this and of course other places around the world You're like that's just we chat. What's the big deal? We don't have this We don't have this This is the super wallet This is we chat From what I can see now that might be updates might look a little bit different right now I get it right but it's like one One wallet one app to rule them all like for us to like order a taxi. That's uber for us for Utilities that's a separate app for whatever different utility come with them actually have as far as like movie tickets That's the amc theater. So that's a different app And it's kind of hard to get all these different apps together because we americans have like A hundred apps on their phone. We don't have just one we chat or something like that And when she says like the one who actually wins Or makes this like super wallet this super app is going to be the big winner. I thought to myself. Yeah, that's very true You know who's trying to do that and she said in the clip Elon musk And I will remind everybody not that I think this is a lock That's what I'm saying But if you look at elon musk's account right now, he's got two logos still In his account For x his baby his one main play not one main play his one big app He's got the logo of x And you see this thing right next to it That's the dogecoin app. Now. Maybe he just does that to troll Maybe he just does that to just put it in there because he always talks about he thinks it's fun He's got a sense of humor However, if you think about it He has talked a lot about dogecoin and maybe that could be the rails Of what he's going to choose and he said multiple times They're not going to create a separate crypto or digital assets for x They're not going to do that. It's going to be something else. I think it potentially be dogecoin Some people say well, there's x there would why couldn't be x or p or why couldn't be bitcoin? Why couldn't be the lighting network? Why couldn't be this or that? It could be any of those things I'm just saying to me. It's just interesting of what he has here Moving forward and maybe that's something for you to look at as far as like Doing your own research and all that good stuff So then to finish up and this was I think the most one of the more interesting parts was this because everybody asked me the same question What about altcoins? What about the altcoins? What should we get into? Well, Kathy's going to tell you right now as far as everything outside of bitcoin and what they're looking at and I thought this was uh I thought this was pretty telling about which winners they're picking. So this is about a minute and a half or so Just take a listen Whoops seven oh There Sure, uh, the reason we have focused as much on ether ethereum as we have is we think, you know That is the smart contract network. That is the decentralized finance network So bitcoin and ether anything beyond that. Well, you know, there are infrastructure players Solana, uh, is doing a really good job. I mean if you look at, uh, ether was Faster and cheaper than bitcoin in the day. That's that's how we got ether Solana is even faster and cost-effective than ether. So, you know, there are infrastructure plays We do believe web three digital assets, uh, uh, that's that's a a big idea actually digital assets with property rights first time ever Uh online that we're seeing property rights Some bears with bitcoin and said, okay, there will be a bitcoin 2.0 Someone comes up with I don't know whether there's something more perfect. There were so many Is there anything more perfect? Can there be something more perfect than? I think most people understand that bitcoin is the money revolution. This is the first global A lot of people don't understand that because they haven't read anything about it, right private So no government over oversight digital very important rules based monetary sister system in history and art laffer My professor mentor and friend when he thought we we did our first paper on and took our first position in bitcoin in 2015 When he understood what this was he said, I've been waiting for this Since they closed the gold window Yeah, so there's a couple things done pack. I'm going to start in reverse what you talked about You know the last question was is there going to be something better than bitcoin 2.0? Is that that's not going to actually come about There could be a bitcoin 2.0. That could be and we we see it. There's Bitcoin that transactions per second. I think it's 7 tps. It's super expensive To to use and we can't use it for transactions right now and people say like now working so-and-so worth Yeah, great But as far as like what it is, I think it's more of a pretty good store of value It's something to you know to keep into your portfolio when people say there's something that's going to come along and just knock it off In 2000 remember this was white paper 2008 genesis block 2009 When this all happened the people got into it wasn't battle tested So people could just say yeah, we could just create something like that It was the same It's not the same thing But it's the same type of mentality when the internet came about and we had a thousand different browsers and a thousand different search engines Why would I use google when I has have asked jves or these other like 30 different ones? Which ones are the ones that's going to actually make it we didn't realize it was until the actual winner emerged Which was google and now with with bitcoin pretty much is pulling away from the pack Everybody just trusts that they look at and go this is the one so as far as like store of value that type of narrative I think bitcoin's pretty much going to win that one now as far as like smart contracts and things like that Yeah, you can use stacks and stuff like that of bitcoin, but who knows what's really going to be The end all be all I think there's a room for alt coins I know some of the bitcoin maxis hate me for saying that but Hey, it is true right now And of course what she's talked about as far as like with ethereum and she brought up solana I know a lot of people hate solana, but I can see in the comment section But it is what it is and it looks like that's kind of like the one that's being anointed right now Who knows if it can be overtaken by your favorite crypto? Whether that be cardano or avalanche or polka dot or fill in the blank of whatever your favorite one is I'm not for sure But for that I can see that it looks like we're going in that direction. It looks like it's a bitcoin ethereum Solana type of train and we'll see whatever gets derailed and the last thing I will just say like this when she talks about Digital assets and she talks about you know to actually have Real ownership of those things. I just wanted to throw this in here. This is from crypto stash And this just came out like 30 minutes ago an hour ago or so disney Is getting together with a top shot maker from dapper labs and they're going to be doing nfts for Star Wars and pixar and things like that so like these digital assets these collectibles that you can that you can You can have you can own you have digital collectibility. It's right there on the blockchain I think this is going to be Again people they look at nfts and this won't happen, but there it is So let me know what you think about that in the comment section and The last piece I will say is if we're going to talk about nfts and she talked about it for our digital assets We got to talk about web 3 and even though I've talked to and I said this before I think that gaming is going to be There's going to be two big pushes in the next bull run. It's going to be ai and it's going to be web 3 gaming But you have to understand not everything's going to make it. This was a great article by decrypt About why crypto games are switching chains or they're just calling it quits because they they can't keep up with it I'm just going to skim over this real quick There was in 2022 just last year There was 157 blockchain games that were stopped You know why they were stopped because the fees were too much the different chains that they that they they picked Told them that they could do things and they couldn't do things or the last thing is they just run out of funding And a lot of these games we think are going to be awesome They just don't materialize because of those different things that it's talked about and this was some I did not know I'm glad I I'm glad they they put this out You know the difference between a double a and a triple a ranked game is Well, this is it games define double a as a studio with about 10 to 25 million in funding Triple a studios are those with over 25 million in funding now. We know exactly what it is. Thank you I had no idea those were two Parameters and criteria for that and it talks about you know different ones and how many there actually is and as far as like triple a ranked games Rated games right now for web 3 It's only 1% most of these are indie games or small different companies are kind of building from the from the ground up And we'll see how it goes, but it talks about how like a lot of them have jumped off ethereum And they have adopted ethereum compatible side chains about 81 of current blockchain games 81 Use a non game focused layer one What's that? so Let's see 74 percent of games are choosing an ethereum virtual network Evm Solana's virtual machine comes in a distant second making about 10 percent of games I think uh starless is being one of those that that would be a triple a game But here's what they're using ethereum sidechain polygon top choice Then binance chain then solana immutable avalanche and arbitrem So if you're like, I don't get the whole gaming thing rob Well, you can get exposure to that just by maybe dabbling into these types of sidechains or layer twos Or completely different layer ones and polygon is a clear the clear leader right now. I don't think it's going to be Binance chain ethereum solana immutable x avalanche, which just had a major pump arbitrem wax sweet and ronin bunch of other ones down here so Then I just wanted to bring this everybody's attention because i'm always looking for like, you know, what's the next big thing? And I asked myself, well, why are they jumping? Let's see Games migrated to polygon immutable and arbitrem and large numbers Uh 60 percent were layer ones to layer two. That's not i'm looking for So this is it. So why are games migrating? the developer Reinhardt Weyers creator of the untitled platformer came watching me one he said It was time to move to a gasless chain one without transaction fees and migrated his game to scale Has anybody ever heard of scale we need Hold on one second Why are you noticed that players started actively trying my game more with some sticking around for quite a while? Let's see mighty action heroes in pirate nation. They move from polygon to arbitrem Yeah, this was it And why why did they do that because they were paying the developers were paying three thousand and four thousand a day on gas That's a lot if you're trying to like boost your, you know bolster up your company or your game It was very nice being able to scale the game So so again, if you're looking for like maybe the next big thing you want to get old de jenny Uh Polygons up and lead right now. I don't know what's gonna last but I would start looking again swanah mutable avalanche arbitrem and that thing they called scale and I took a look at I'm like, I never heard scale gasless I don't know how this works. So I'll do my own research But scale itself Right now it's uh under three cents And I was looking at it. Let's see here The last 24 hours it's taken a hit like everything else seven days looking pretty good 14 days. Look at that Not bad 30 days. Okay It was below two cents 90 days. All right 180 days Yeah, but I take a look at the max You know at one point it was 82 84 cents So anyhow, just something to look at maybe uh, that would interest you and that's it for today. So look That went a little bit long. Sorry about that a lot of good information. I felt from kathy But that's it for today like today's video. We'll give it a thumbs up consider subscribing I'm going to talk about it's pretty time sensitive But that's it for the news part now I'm gonna stick around we'll do a quick q&a as long as my back can hold out and We'll go from there. We got to go run. Thank you so much for stopping by. I do appreciate it. Now. Let's get into a little q&a Speaking of deans a little crypto golfer That's good flair airborne has an infinite supply. No against turning where the chain is going just like eith poor design choice Just keep it in beta. Yeah, I I don't know if we're talking about salana there I'm not for sure That's uh, yeah people either love salana or you hate salana. It's almost like cardano You either love cardano. You absolutely despise cardano. There's always those there's like no in between Oh, I didn't know this shall in Using we chat was great message friends send people money pay for a coffee and uber pay rent utilities. That's crazy. I never Say something bad about the government and it gets all taken away from you See, yeah, somebody said that we chat is a way for for the chinese government to spy on their citizens. Look We're all being spied on Every one of us if you're on social media Somebody's collecting your data If you have an alexa Trust me it's listening to you and I even saw like a report that sometimes different cars They have a microphone on they're listening to you right now not to freak you out. That's just the way it is So like if I can get an app That's gonna spy on me. Eh, what's the difference when everything else that's out there? Ah, I just wonder how much privacy i'm gonna have in the future Yeah, jake today says I own scale learn and earn from the camera. Oh, look at that Ah Flare everyone says 90 percent transaction or internal votes the chain has already bloated the more users of the chain We centralizing minorities now that flair is talking about is salana and yes, it's true if you look at Who let's see I think it's salana scan. Yeah, so Let's be fair He is right So on a scan or soul scan that i o if you come down here and look at tps transactions per second It looks pretty fantastic, right? Everything's cool. But you're like, what are these? purple Ones and what are these teal ones? Well the purple ones are true tps is and the Teal ones are the voting the voting transaction per second. That's 85 percent eight 90 percent Of what's going on every day. So Yeah, there's not like people say well, there's there's so many tps is well it's true it is but there's not a lot of things going on just a bunch of voting and It's one of two things first it does show it can scale at least it can go up to 3 000, you know good for that And they're saying it can it's you know when this uh Fire dancer comes out it can be up to a million Um, so we'll see if that's true But uh, yeah as far as this goes. Yeah the tps. It's a bunch of votes You got a point It's true This one she got he says soilana breaks too often pulse chain 100 percent of time look How many times this year has solana going down? Can someone tell me that in the comment section because when I understand it's zero Now last year I think it was like five or six times true but uh, hey You know these things happen and uh, hopefully they fixed it I mean do you remember remember this I remember when coinbase every time there was a run In the crypto market it would go down. You couldn't buy anything You couldn't sell anything and that was just how it was because that was coinbase Have you guys noticed it going down lately? Yeah infrastructure. They actually worked it out Ah Yeah, how much sold the vcs have left? You know, this is always a thing about it and I'm not going to defend solana. It was a vc coin Let's be honest. I met a couple of people over at korean black chain week, which uh Let me to believe there might have been a little Panky panky going on with what they did and I will only say that because I don't want to be sued so With solana, I mean look here's the thing about vcs. I think I got a boat of money So they probably got an early And then they wrote it all the way up and then once it started to spiral out of control At fair 250 they probably sold a bunch of it and they probably dumped on you Probably dumped on me. They've been with all they dumped on everybody in retail Then it goes down and people can actually buy it up and here's the thing We would like to believe that retail are the only ones that are buying solana. That's ridiculous I guarantee the same vcs that dumped on you probably bought it up around 11 12 13 14 bucks. They're gonna write it back up. They're gonna dump on you again That's just how it goes the question is it's like that scene and the good the bad and the ugly When they're all look each other and they're looking in and they're saying, okay, who's gonna fire first? It's the same thing with this. It's a zero-sum game. Who's gonna dump on who and that's up to you to decide. I'm not your dad All right Let's see Thank you The old pumpy dumpy. That's a good one Starless is the best project so it looks very promising. That's for sure It's not delayed vc. I'm so sure I mean Fire dancers should fix that I guess Thanks for scared of bitcoin. I can see that No, and I think that's it Didn't mean to flare up the chat. That's what the chat's for That's the great thing about the chat The great thing about the chat is I don't ban anybody unless you are Straight up scammer or say something that's like super derogatory. It's all it's all a discussion I mean, I may get ticked off at some people and I'm not gonna ban them And I may get a little heated but that's just how it is Eric Alley, why do you think Gary's has been giving approval to spot ETS? We talked about this in the beginning watch the the replay but it basically coming out of this. I think Gary is Jockeying for position and he I don't think he serves the black rocks. I think he serves the white house And your cell phone does listen to you all the time I'm listening to your mic right now, but that uh Hey, is this thing on? Tip your waitress that was a good one. Oh the good guys at Sin City crypto here at what's up gents I'm sure it's nice. This is the best time to be in Las Vegas around this time It's because it's sure as heck is in june july and august hot as hell Rob, please get living pain-free by gecko skew take care of yourself. Yeah, I looked at that one. It's a pretty good one um I'm going through uh, physiotherapy and medications and stuff like that for my back We'll see how it goes feels better today. It just still hurts And I'm coming up in my time with it actually What do you think about a mulex? I own it Uh, I just don't actively dollar cost average right now. I bought a while ago Um, I think it's going to do very well, especially all the partnerships that they got going on. So yeah and I think I answer everybody's question What's your favorite gaming? Infra or info my favorite gaming info is uh, crypto stash Johnny hustle keggy and uh Uh, classy crypto or jesus So but that's it for today. So look everybody. I'm coming up in my time on it from my back. It's about to give out That's it for today. So Thanks so much for stopping by appreciate it like today's video thumbs up subscribe all that good stuff and uh Last thing I will say is I know everybody's watching the markets as they start to Escalate and everybody thinks they didn't buy enough Just remember you did your best and uh, you bought enough. So just be happy with what you got. That's it for today Thanks everybody. See you on the next one. Have a good day