 Welcome to Jalassette News, taking top stories in crypto, cryptocurrency, and Jalassette's and bring them down to bite-sized pieces today is a good one. First up, Bitcoin is sure winning the battle of the safe havens as another publicly traded company invests 115 million in Bitcoin. And it's like I said before, once the dominoes start to fall, it will be a chain of fact and here comes the next domino piece. A new report is out by Investing Giant Fidelity and it says that undoubtedly people are going to move to Bitcoin. And the real story isn't that they're going to move to Bitcoin, it's the way in which the information is going to start moving which will trigger the next massive bull run and the FOMO effect. Also, Chainlink network hits new milestone of over 30 billion in cumulative transaction volume and this could be a deceiving number. And finally in bad news, South Korea there's going to be a 20% tax on crypto profits whereas before there was absolutely no taxes whatsoever and what this could actually mean moving forward for cryptocurrency Jalassette's in other countries on top of the amount of taxes we have to pay here in the United States. So again, all that first let's take a look at the market. So today it is October 14th, it is about 3 p.m. Texas time and kind of a red sideways day. Not really too much action going on. Bitcoin is at 11, 375, but it is up 7% for the 7 day period only down 0.4% so hey, not too bad. 375 for Ethereum, I'll take those numbers, KethernXRP, yeah, Bitcoin cash up 0.7% and everything else is pretty much in the red. Let's see who's the biggest loser of the day, crypto.com that's not good, 6.2%, 1.5%, 5% for Tazos, all right, 4% for Cosmos, 4.2, 2.8, so everything's pretty much taken a little bit of a dip, 8% for Uniswap, what a bummer that is. I do like Uniswap, I like how they did everything, they're building the community, it's tough to see them take that a hit, but hey, it is cryptocurrency market, right, 5.2 down, 8.4 for Yurn, oh man, 14,000, I wonder if it's going to dip below 10,000 at some point, compound down 5%, hey, rent up 12%, congratulations all you rent holders, massive run and they're up 63% for the week, wow. So I believe there was a new listing, that could be one of the reasons for Ren's monstrous gains, so congratulations again. So everything's in the red, so you gotta wonder what's going on in, you know, the big picture, what's happening. Well let's take a look at the traditional market real quick, S&P is down, looks like it opened at 3,500, took a big dip today, 3,480, moving sideways, so not too great. I know there's been some recent news, the stimulus bill is going to be totally mixed, that looks like it's going to fall through, plus if you had hopes on a vaccine coming from Eli Lilly, just know that they are on standby, one of the participants got sick, so they had to halt the actual study, so that vaccine, but there's other ones in the pipeline, so those two things tend to spook investors and look what happened, so we have this and also we have a little dip that we're going on in our market, and that's the problem with traditional players, you know, they are also here and they like to take money out, because guess what's Liko 24-7-365, cryptocurrency market, all right, doesn't really matter, let's take a look at what's going on in our market, so first up, this is huge, this is huge, I love these stories, Bitcoin is winning the battle of safe havens, another company, you know, another domino chip fall, so who is it? So while the price of Bitcoin continues to struggle for upward momentum, as we just saw, it has continued to attract the interest of multi-billion dollar corporations, so we have MicroStrategy and Square, MicroStrategy put in like around 430 million, in fact check me, I'm not for sure if it's that or 450, I always get confused, Square was around 50 million, and the latest company now is Stone Ridge Holdings Group via its subsidiary New York digital investment group or NYDIG, which already holds a billion worth of digital assets, and they said, you know what, we got a billion, but let's just dump another 100 million and buy up some Bitcoin, so on October 13th, Stone Ridge purchased 10,000 Bitcoin, worth around 115 million, and this Bitcoin stash will be the under the custody of its own spin-off, spin-off firm NYDIG, so it's just like I talked about, I mean, Nugget News said this one, I saw this today on, there was a little snippet from Raoul Pal and Real Vision, and he said, nobody wants to be the first, but nobody wants to be last, and it's a good point, because these corporations, these big companies are looking around going, okay, who's gonna do it? Who's gonna be the first one? And of course, you know, MicroStrategy was one of the big, the big ones that said, yeah, we're gonna put a lot of our money into Bitcoin, and then slowly Square comes off, which I think Square should have been the first one, quite honestly, I mean, Jack Dorsey is a huge proponent of, he's a big cheerleader for Bitcoin, so, but there was a second, and now we've got Stone Ridge holding, so you can see the kind of timeline of what's happening, nobody wants to be first, but nobody wants to be last, and once these corporations start to pick up, it will just increase exponentially, and I think that is gonna be one of the catalysts for the next bull run. Now, when that happens, anybody's guessed, my guess personally is 2021, I do not think it's gonna happen before the end of this year, especially with the presidential election coming up and the uncertainty around that, but hey, we will see. Anyhow, it states Stone Ridge is an institutional asset manager with 10 plus billion assets belonging to top financial institutions and insurance companies under its management. The announcement indicates that the 10,000 Bitcoin purchased by Stone Ridge was made pursuant to its Treasury Reserve strategy, and it's the same thing that MicroStrategy did, they go, look, I've got a ton of money here, and unfortunately, it's on fire because what the Fed is doing right now, the quantity of easing, they're printing money like it's going on a style, and our money is just, you know, really just losing its value day by day, second by second, week by week, month by month. We have to do something with it, and we need a asset that is not being easing out, maybe some of that's being hardening, a quantity of hardening, and that's what Bitcoin's all about. So they took their Treasury, dumped a ton of, I mean, $430 plus million, and here's where we're at. But the article is interesting and it's great that this is happening, but this is what really made me feature this article first, and it states, as Bitcoin transitions to a predominantly institutionally owned asset, NY Dig is better positioned than ever to be the leading provider of Bitcoin solutions to corporations, institutions and banks. We'll read that one more time. As Bitcoin transitions to a predominantly institutionally owned asset, NY Dig is positioned to be the leader for Bitcoin solutions to corporations, institutions and banks. What does that say to you? First of all, that says they want your Bitcoin, and they're going to manipulate the market until they get it. Second of all, the reason they're saying this isn't because they think it's going to happen or they've got a good hunch. It's because in these financial circles, everybody knows everybody. It's a lot smaller than what you might think. And I can guarantee they put out feelers, ask questions to their buddies and their friends and whoever they have out in the different areas or different sectors and said, hey, what do you think about owning Bitcoin? And guess what happened? It came back very positive. And this is why they're saying these things because they're like, Hey, if we buy up a ton of Bitcoin, well, we're going to be the most popular kid on the block because we're going to be able to have all this Bitcoin and we have institutions all the way around. So why wouldn't we do it? So that to me is a bullish indicator. These companies do not just make hunches and guesses. They do a lot of data. They do a lot of research. And after they're done, they go, you know what, we're going to get into this. And here they are. If this statement would have come out in 2017 or during that bull run, it would have made everybody's head explode. So look at what is going on behind the scenes. And this is an example of looking at what they're doing and what they're saying. And to finish up, he states, we are proud to have facilitated one of largest commitments of treasury assets to Bitcoin announcement to date and see demand for our full suite of corporate treasury and investment solutions accelerating. And that's very true. So in all honesty, it's really all laid out for us right there. Let me know what you think in the comments section. But for me, this is super bullish. Let's move on. Next up, retail investors will undoubtedly move to Bitcoin says fidelity. Oh, really? So let's see what they got. Fidelity digital assets, we don't know it is their sister arm of their main entity, which is fidelity, which has a paltry 8 trillion trillion with the tea assets under management. And according to the report that they put out, which is looks like this, and we'll go over that in a second. The report says social media and communication platforms, including Twitter, Reddit, Telegram, YouTube and TikTok, are driving the real adoption of Bitcoin, which is interesting. Think about that. Where do you get your information? Do you sit down and watch news on the big three channels, or you know, maybe on cable, or to get a lot of your news from some of these outside sources, which would be like social media platforms like YouTube, like listening to it right now, like maybe on Twitter, or maybe on some other format, Reddit or whatever you want to say. So it is interesting that they laid this out. And the reason why they laid out, first of all, they're right is because of this. They disassemble or disseminate financial information and advice in a more viral and rapid way than traditional channels. Think about that. Again, of course, we do. I do other players in the YouTube space do. People on Twitter do. There's so much information out there, and it happens in the blink of an eye. So to actually put it on a news channel, to get it all together, to have it all fact checked, to look at everything and then go for it and then actually put it out there takes a lot of time. But with social media, and what we do right here, first of all, I'm not beholden to anybody, which is great. There's no corporation over me going, you can say this, but you can't say that because that I am as free as I possibly want to be. And I know YouTube has its problems, but it does give me a platform and a voice. And for that, I'm grateful. And I will say this, I truly believe that social media does move and sway the markets. We've seen it time and time again. And so why there's that age old adage, which is by the rumor sell the news. And there's tons of rumors out there. And there's tons of gossip, there's tons of things going on. And I believe it pushes the market in one way or the other. Moving on, as this new wave of retail investors familiarize themselves with these channels, some of their attention will undoubtedly flow to Bitcoin or digital assets, the report states, which makes a lot of sense. How much of the mainstream media really covers Bitcoin really covers Ethereum really covers tomato coin or whatever it is. You know what I mean, that doesn't really exist, only exists pretty much primarily right here. The daily asset was careful to note that the narratives for retail speculators are very different. Bitcoin is reflexive, suggests the report, price and sentiment experience a self reinforcing effect. And they continue the author's point of data from the tie, a sentiment analysis firm illustrating that abnormally high mentions of Bitcoin on social media can drive increases in the value of the digital currency. Of course it does, of course it does. You have to understand with I've been in sales and marketing for years and years. And it's the it's a it's a fact that people buy an emotion and they back up their buying decision on facts. It's the same way like when you go into a car dealership, it's not like you have a ton of facts in your head. I mean you may have a little bit, but there's an old another old phrase, which goes like this, the feel of the wheel seals the deal. And what that means is when you get into a car, that's why they're always trying to get you into that test drive because they know when you sit in one of these high end, or even it doesn't matter what it is, any kind of vehicle and you start to really just get into it, the emotions take over. You're like, Oh, it feels very nice. Oh, this is very smooth. I like how this feels. Oh, I can, you know, there's a ton of room in here, whatever it is, or it's very fast or whatever the car that you is. So they want to do that because your emotions will drive some of your purchasing. And that's why this market is built on a FOMO because a lot of people will do that. Now you watching this video right now, I can tell you right now, you probably don't do much of that because you listen to what's going on around you. Not only that, you're not here during this during a massive bull run in 2017. Of course, everybody was out there buying up things. And those are the people that were FOMOing and really spending on emotion. Here, it's a much different place. Like if we can just take a look at what is going on, it's sideways. Everything, there's not really much going on. And this is where all the money is made when it's boring and nothing's going on and you're disciplined enough to dollar cost, average and buy in. You are an investor. So when everything goes through the moon, that's not when the money is really made. It's made right now. This is planting the seed, harvest all the fruits of your labor. So just keep doing what you're doing and things usually work out pretty well. So finishing up states, what is unique about Bitcoin is that it's retail driven, financial media and the way people consume investment information is changing and influencers command more attention than institutions. Let me read that one more time. Influencers command more attention than institutions. So that's the thing. On this channel, I started this channel about 10 months ago. And the reason I did it was just to have an outlet. My business is pretty much run by themselves. I don't really need to do too much. So I can have a lot of free time. My wife's like, why don't you do something? That's why she's always kicking me out. And I'm always in the in the pool room. But a funny thing came came about as time went on. And one of those things was I realized how important it is to get things right and to not fall into victim of talking about the next shiny object. It just it doesn't work out. Now other other places can that people can. But one of the lessons that I learned being around 2017 is that you cannot be one of those people who talks about an ICO and you know, not really even do a lot of research. And then people, you know, FOMO into it because of what you said. And then all of a sudden they're like, Hey, hey, man, I just lost my money because of you. What what the hell happened? And we always talk about doing our research. And of course, yes, it is up to you. However, words carry weight. And it's why on this channel, I'm probably one of the more reserved or conservative type of people out there. I don't trade. I don't do TA. I definitely don't do leverage trade. That's crazy to me. I just invest and just all the cost average. And that's all I got. It's boring. It's not really too exciting. I know. But again, I think that all these sideways action right here, this is when all the money is made. And when dips happen, that's also their opportunity. And it gets to be monotonous sometimes and boring. But that's how things are built. Doesn't happen overnight. So yeah, even the products that I talk about on my channel are pretty boring. If you think about it, I mean, one was Stonebook, which is just it's a book. It's a thing that you use to write down your seed phrase and mnemonic phrases. It's that's pretty boring. Crypto trader tax. I talk about that sometimes because I know people have to use their taxes or do their taxes. And I think it's important that they do those taxes. Again, boring. And the other thing is I trust capital because I think that everybody should, you know, get into an IRA in some way, shape or form, because I think at some point, you know, you got to pay a ton of taxes on these gains. So you might as well prepare for the future now. That's it. That's really all I got. So anyhow, this is this is what all comes down to, which was the actual report. And I'm just going to there's two little snippets that I wanted to add in there. I thought that was pretty interesting. And it goes like this. In 2003, alternative investments comprised 6% or 4.8 trillion of the global investable markets, according to the CAA Association. This association estimates that alternative investments grew to 13 trillion by the end of 2018. That's like a 3x from 4.8 to 13.4. That's pretty good. Or 12% of the global investable market due to factors such as low interest rates, pension funding ratios, which can be a nightmare coming up, the maturation of emerging markets and a structural shift in capital formation. Members expect alternative investments such as Bitcoin, crypto currency assets on top of others to grow to 18 to 24% of the market by 2025. So imagine that. And this is just an alternative investments. If you if you've been around the channel for a while, you know, I love this little chart that I have compared to the money of all in the whole world. You can take this little square right here. It's 100 billion, right? This is silver at 43 billion. Here's crypto at 340 something billion military spending, budget deficit, coins and bank notes, Fed's balance sheet, which is way higher now. Here's all the billionaires. Here's all the gold in the world about, you know, 10 trillion of that. So just imagine, first of all, if Bitcoin takes, I don't know, a quarter of that, let's just say 10%. That's a trillion dollars. That's a trillion dollars just from taking it from gold. Fortune 500. Here's the 25% of the S&P 500, matter of fact, Microsoft, Apple, Amazon and Google, Facebook, stock exchange, 89 trillion money supplied, 95 trillion global debt. Guess what? There's more, 253 trillion global real estate, 280 trillion. So when people start talking about tokenizing real estate and condos and skyscrapers, watch out, because this is part of that. And then you've also got the global wealth, 360 trillion rivetus, 558 trillion for what we know, and then maybe a quadrillion, because we don't really know exactly how much it is. So all of that, all of this, and we are stuck, or we are sitting, I shouldn't say stuck, right here with cryptocurrency. This is the biggest asymmetrical investment opportunity you're ever going to see in your lifetime. That's just my opinion, though, I could be wrong. Let me just think of the comment section and let's move on. Next up, Chainlink Network hits new milestone of 30 billion in cumulative transaction volume. And this is exciting, you know, good stuff. I like Chainlink, own Chainlink, hope it does well. So cumulative transaction on Chainlink has recorded a new all-time high totaling $30 billion. This is according to data from Glassnode. If you don't know Glassnode, they are a data analytics company. They do mostly with cryptocurrencies assets. They do everything from transactions and hash rates. And it's a pretty great website if you want to really dig deep into the data if you like the type of thing. But again, I just want to warn you about these things. Transaction, transaction volume, it can be manipulated. Bots can just trade back and forth. We saw that with different other projects where it was called out that and it was proven that a lot of these transactions, they said, Oh, we have all these transactions. Yeah, true. But it's just bots going back and forth has no real value. It's not real people. And it hasn't really caught up to anything. So when I see this type of thing, I'm always a little leery. I mean, I really do like Chainlink. I think that it definitely has a place as an oracle. I mean, to pull that off chain data that cannot be pulled in by blockchain, because that's not the purpose of blockchain. So I think it'll do great. I just thought it was an interesting article just to go over real quick and to say, this is good, but be cautious. And last up. So this is some bad news. South Korea, 20% tax on crypto profits. I had no idea that South Koreans didn't have to pay taxes on capital gains or anything for cryptocurrency until like right now, I'm like, Wow, shouldn't move to South Korea. So what is happening here? Bump bump bump. The South Korean government said on Friday that income derived from trading cryptocurrency will be subject to tax as planned. Clearing the way for the 20% tax on the gains made via digital currency that long remained a windfall tax free investment. That is awesome. Imagine just making all these these gains is going, Okay, I'm going to cash out and government doesn't get anything. Fantastic. That's fantastic. I would love that doesn't work here in United States or Canada or all over Europe. Well, for most part, there's different places you can get away from that. But yeah, Australia can't do that. Deputy Prime Minister and Finance Minister Hong Nguyen Kai, pretty sure I nailed it, and digital assets can be recognized as financial assets. He states the crypto market with around 400 billion, sure, has long remained outside the tax authorities scrutiny. That will no longer be the case following a revision of a related law. Hong said during a government audit of the Ministry of the National Assembly Thursday. So basically to set out goes, Look, good for you guys, you guys got one over on us, but not anymore. We're going to step in. And the reason why I'm talking about this article so much is because I see this, what's going to happen with governments coming in. They are going to start to impose more taxes, especially on these windfalls, especially on these capital gains, because look what happened globally. Let's just take a look at United States. We're hurting. We're hurting because we printed off so much money. And there was so I mean, the money printer really did go burr. And you can't print that much money without having some repercussions. I mean, not for the the billionaires, they're going to be fine. You know, they're going to get richer. And that's just how it goes. But for people like you and me, it's going to start sucking real bad. And I can see how taxes will go up. Now, hopefully, we can tax more of the rich, but I'm in my 40s and I'm hearing that song and dance for decades. It still doesn't happen. So I have no faith in the government. However, there is one thing that I do have faith in that's their tax living hell out of me. So what's going on down here? So the grounds the move was established by the relevant law revised in July to impose on Korean citizens, including residents and non residents and foreign national. So even if you weren't a citizen of Korea and you're living there, you're going to get tax gains made by non residents and foreigners after October 1 2021 will be subject to a tax rate of either up to 20% of the difference between sell price and purchase or a 10% transfer price. Either amount, whichever is lower must be paid in the 10th every month. So gains made by non residents and foreigners after October 1 always usually a tax rate. So I think is what's going to happen. Exchanges that are located in South Korea. If you're using them and you have some gains and you cash out, it sounds to me like you're going to have to pay taxes not 100% for sure. You need a CPA. I need the change this card actually come in here and actually help me with this one because if you're going to pay tax over there and then it comes over to the let's say you live in the States and now you have it. So you can't get double tax Kenya. Geez, that sounds awful. Anyhow, where's the CPA? Put that in the comment section. Koreans by contrast will have to pay a 20% tax for gains made in a one year period over two and a half million won well whatever that conversion is. So South Korea, you got away with one. Congratulations. Unfortunately, you got to pay the piper now and that's just how it goes. To finish up this two things. I see this happening more and more. I do believe that we're going to be taxed a lot more coming up. And that's just how it is. And that's just, you know, par for the course. So time to make a plan now. If you fail the plan, you're planning to fail. And that's just the darn truth. So look, here's my plan. My plan is not to pay taxes period. I mean, I already pay taxes through my business and all the different income that I have right now. Now, if I have to pay taxes, like let's say one Bitcoin goes to a million, just saying could happen, who knows? For round numbers. So that means if I bought it today, let's just say it's 10,000, right? I have to pay the taxes on $990,000, probably about 25%, 15 to 25% of capital gains. Probably going to be a ton. I am not doing that. I am not doing that. Because who knows how long I'm going to live? So and second of all, I don't think that I should be taxed that much. It's ridiculous, right? So I have, I recommend you to check this out. Do whatever you want. I trust capital. They have a crypto IRA. You put your crypto in there, not all of it. You're not going to put all of it because, you know, it has to sit there until you're 59 and a half or 65 and 59 and a half. So you can take it out. But when you're able to take it out, guess what? You pay zipping taxes, zip, zero, zilch, none. So I personally, you can max it out. It's between $6,000 and $7,000 depending on your age. And that's what I put in. I'm almost maxed out for this year. So that's just how it is. But I'm not going to pay any taxes on those crypto currencies. So you can start one up, or if you have a traditional IRA, or an old employer plan, 401K, 403B, TSB, or 457, then you can move them all over tax free if you want to. So to watch this video and use the link to check it out, there's a link in the description of every one of my videos looks just like this. And there's also the video how I break everything down, how I talk about it, you're not going to pay any taxes and how it all works out. If you use my link, you get a month for free. And also when you go to the website, if you have any questions, just click on the contact us, and you get to talk to like a real live person, usually Anthony or Blake or somebody will talk. So and they're all good guys. So just check that out. Again, that's my plan to not pay taxes. I don't know where you want to go, but that's my option. Alright, so that's it for today. So before we take off, I just want to give some random shout outs to everybody who signed up for Digital Asset News, really appreciate it. We've got P dub and Stone Crypt. That's Freddie, the stone book or shield folio. Thanks, man. Chef Dan, it tells sure Steve Erlich, Chris Castillo, Daniel Delgado, TTP 911, GKP Black, I am not I, I am not I. And ether ether ether black and Chuxie. So thanks everybody for sign up, really appreciate it. If you like these types of videos, there's gonna be two months going to pop up on your left and right. I'm going to try to put the one about not paying taxes. It's like an 18 minute video. It kind of goes through everything. You can check that out. And also the other one is whatever YouTube picks. And that is it for today. So again, thanks for sticking with me, appreciate it. And I'll see you on the next one.