 Welcome to digital asset news to get top stories in crypto and break it down into bite-sized pieces today This is the thumbnail suggests CNB singing at it right and it really was a crypto nightmare in relation to coinbase and customer support as a Certain individual lost a million dollars with the cryptocurrency. So we'll talk about that story also talk about a new strategy I'm implementing talk about the reasons for lagging altcoins and we'll finish up with a little news from the Bank of England Being a little bit bullish on crypto and also what Kevin O'Leary says as to how we can hit a hundred K Bitcoin So we'll go over all those things but first take a look at the markets days one of those days It's a pullback and we've had a pretty magnificent run since the beginning of October We knew Q4 was gonna be pretty good hasn't disappointed so far But for every run up there has to be a little bit of pullback and that's what we have right here So we're at 2.28 trillion almost 2.3 give or take a couple hundred billion whatever and we've got The daily sentiment right now is 50 over a hundred people are kind of there's a little bit of ambivalence So we don't really know where we're going. I I feel like we can we're gonna go in a certain direction I think Q4 is gonna be great and there's a lot of indicators to to say where we are going But you have to realize crypto is pretty volatile and that's just how it is and a thing that's odd to me right now Is that usually when Bitcoin runs up and there's a pullback and then it kind of flows into alts Well right now you got Bitcoin in the last 24 hours It is down 4% but Ethereum is down the only one that's up really is as Binance coin Cardano's down XRP is down Solana's up 3% or 5% which is amazing because it's been kind of tanking the last week or so and Then everything else is pretty much in the red for the last 24 hours I mean except for Axie infinity never disappoints 5% for cosmos and just everything's just red red red So the question then is why are these altcoins lagging? So we're gonna we're gonna take a look at that but first let's take a look at What I feel is a pretty good story and it's a it's a cautionary tale of what not to do and this came about This was from CNBC. I think it was Squawk box Yeah, and what they did is they just said I'm just gonna play the first section real quick And then I'll just paraphrase everything. So take a listen to this It's safe This was something that Becky was alluding to the last segment customers of coin based the country's largest crypto platform Are angry with the company's customer support which is supposed to provide help But it's just led to more frustration here is aiming Javres with a CBC investigation crypto nightmare I was kind of like panic to tell you the truth Eric and Molly Richardson say they saved nearly 1.1 million dollars worth of cryptocurrency in a coinbase account But then in July Eric got an alert on his phone the message said someone had logged on to their account Eric clicked on the text logged in and soon received an email that their two-factor authentication Which verifies security settings had been chained Okay, so then it's gonna go on for three minutes and they're gonna talk about how awful a coinbase customer support is Look, I'm no fan of coinbase. It's just the truth But in this situation and also I don't know if you knew this but they now have a phone line that you can call And say hey, you know my my account has been hacked But it's kind of funny because in this video they actually do that and the guy calls it up And they're like sorry I can't help you call or just send us an email and we'll get this rectified He's like I've already lost a million bucks But anyhow when you're taking a look at this in all honesty It is a nightmare if you have to lose a million dollars, but I'm just gonna be honest with you right now Um, that's his fault And I know that's not very popular and of course he's probably not too too happy with with this situation But in all honesty, I mean when somebody this is this is the problem And it's because of of education and or lack thereof because this is a whole new asset class There's a lot of different rules and that text message that he got where he logged in And they said oh, you know just must be a coinbase and then he logged in Gave him the credentials and those hackers took it and they got into his account. I can guarantee that When they did that he probably didn't have It says two factor authentication was changed. I'm pretty sure you probably didn't have the google Authenticator on I'm pretty sure he didn't have like a like a ub key I'm pretty sure and it talks about in the video. He didn't have anything cold storage So essentially what he did was he kept a million dollars plus on an exchange And uh, thought well, it should be okay. And this is the problem. So like in this situation again It's his fault But I can understand why these things happen because people just don't know like oh, this is an asset This is the stock. This is what I'm gonna and they don't they don't really get it. So uh For this Whole story can be summed up like this. It is a nightmare because I mean to get any kind of help Uh, to actually call up coinbase and say hey, things have been changed lock my account right now So they can't take anything else out because you know, it's gonna take a little bit of time for them to do it Once you get that you should be able to call you should be able to do something to get in there But it just didn't happen Again, so what do you do? But really what it comes down to is this you're gonna have to you're going to have to I have some education and you're gonna have to do your due diligence So this thing that spins above my head constantly see that I don't know how often you've watched me, but if you have not Gone to my website danteachescrypto. It's a hundred percent free. There is no hidden things like oh We're we're behind this paywall or something like that hundred percent free All you gotta do is go to danteachescrypto.com. There's a big orange button to start learning You're gonna put in your email and name. This can be your first name. I don't really care I don't even spam you. I never email anybody unless I add something to the website You go to the members home. Here's the course modules You click on module to safety and what you can do is just go for It's right Everything's right there that you that people need and the only thing that I ask people to do Is just share it with a couple of their friends family and loved ones So if they're gonna get into crypto, at least you're a little bit prepared and then we get scammed out by that guy So that's just a quick ps a let me know what you think in the comment section I'm sure it is is what it is and that's uh, that's all I got for that section So that is that now let's talk about little strategy action So I had put this out on twitter Yesterday, I think we talked about yesterday in the video and I talked about how I've been dollar cost averaging and buying dips for the last four years and uh on on these huge dips I Buy pretty aggressively and over time I feel like q4 is the time to just kind of sit back and yes There is a dip today I can pick up some other ones that like a discount keep going But all honesty I've got some other plans and I need to do some other things and there's different asset classes that I want to get into One of those being real estate and property I need to do some other things in that area just to protect myself and my family Okay, and when I was looking at this, I'm like, you know If I'm going to just have a holding portfolio Maybe that's 95 and I can't tell you what to do. This is an investment paying out of investment advice But for me, I'm like why take like two or three percent do a little trading and then maybe one percent do a little gambling A little gambling called nfts and really what it comes down to is I think there's a lot more Revenue or there's a lot more ROI In nfts and what's going on there not for the longevity. I mean you got to be honest But this is just so new. This is really ico 2.0. There are some products that are make it There are some projects a lot of projects that will not so my new strategies will take like one percent They're just going to get these nfts and that that is the big thing. So I hope that isn't Put anybody off, but because I know on my channel I talk a lot about dollar cost averaging and Just holding and that hasn't changed, you know, I still hold I mean if there's a big dip I will I mean a big dip I will buy again I will dollar cost average in but as far as like every single day I'm not doing anymore and When there's new information, I tried to adapt and overcome and this is where we're at So let me just think about that comment section Now let's talk about the reason for the lagging all coins and I can kind of sum it up like this There's so many things going on in nft and defi world. We got to take a look at some data So if we take a look at there's this one called defi dashboard and I'll link the uh website in the description But uh, if we take a look at the defi locked 206 billion dollars 206 billion dollars is locked up in defi And if we switch us over to staking as an additional like 10 billion or something like that Yeah, it's 11 billion. What it just 11 billion. So let me take a look at these are all The currencies the the crypto of the digital assets where it's locked up into and one of those uh being avay avay is huge You got 16 billion locked up curve 50 almost 16 billion maker dow instant that Wrath bitcoin compound convex pancake swap and so on and so forth. So I mean there is that part I think people really like uh, the the the yield farming. They like the whole defi They're really into it. I own avay myself I'm never not never, but I'm not gonna let go of avay for a while. I think it's got a lot of room to run So there's that part and then also if we take a look at what we just talked about as far as nfts How do we know how big it is besides of just people talking about all the time? Well, if we take a look at there's a website on etherscan called gas guzzlers And it's just a gas tracker. I'll link it as well And you can see here that the number one gas guzzler for ethereum is open c and open c.io is where you can get uh, almost all of the uh popular most popular nft is not all But the most popular ethereum based nfts. I think there's more of an upside in like, uh, uh, Solan art.io and nc fdc or nc No, sorry, it's a cf c nft.io and also Avax for the things that they're minting on their On their platform for nfts, but if we take a look at this look at this in the last three hours They have burned just in the fees a half a million dollars and three hours And uh, if we can extrapolate that the second one is uniswap and we know how big that is as far as like swapping and All the gas so if we can see where everything is headed The question is then why is there so many lagging altcoins? Well in all honesty, I think nfts wasn't really a thing and now all of a sudden Everybody's putting all their funds into these nfts So I would think actually that a 30 would go up a little bit more But uh, the other altcoins wouldn't as much but I think that's why we've seen a pretty big boost almost a 4k for ethereum And if we take a look back in history, this is uh This is my discord and I think Yesterday when you guys were hearing those like little beeps those are probably all notifications that I add on for discord If you want to find anything about what's going on in crypto I thought crypto twitter was uh had some great information. It's all on discord And you just got to get comfortable with it and uh, here's the ones that I have and this is one from plattipunks This is from uh, my guy nick nick mancini. Uh, he was the one that's uh Turned me on to this this data points actually and he said this was back in october 5th. Look at the Look at the Gas guzzling and open seed just On october 5th today is a 12. So a lot of we can go 13 percent Then of course uniswap was number three So we take a look at these and then here's some other data points people are talking about how great gaming is And how gaming nfts and everything else But if we can uh take it out and go okay, well You can break it down between art and collectibles. This is from the block on chain analysis versus gaming Uh in some of these ones like look in august I mean yeah back here it was gaming gaming gaming right especially right around uh, july or so But now we see a little bit of a shift now It's more the nft and nft craze and september is pretty half ways but october I mean here we are so I think that All the money is flowing into this hot new item And then the question then is well, how long is this going to go on rob? I can't tell you that I have no idea but I can tell you this We had a great discussion Over on alex mask you always channel about what could potentially be The end point for this and lucas really smart guy He was talking about just a macro economic view of what's going on in the landscape as far as finance in general Breaking it down into crypto and break it down in nfts And what he talks about makes a lot of sense and he's talking about you know, look Just like the icos were hot he goes these things will will roll out some Projects will rise the top but a lot are not going to make it And I think that's why for these situations it really is what I call a gamble And that's why i'm just doing a very small amount Now don't do what I do do your own research do diligence and all that good stuff But I see nfts being around for quite some time watch the video yesterday as to why I think that is And I think the best is yet to come and like I said q4 is going to be fireworks Don't know which one it's going to be as far as the projects but I can tell you entities are going to be up there All right, so that concludes that part and then let's finish up with a little bank of england kevin oliri info So I love these these stories. First of all, I'm just going to paraphrase this whole video. It's about 12 minutes I like kevin oliri. He's a he's a guy that some people say he's you know Some people with choice words about kevin, whatever One thing I like about kevin is like he was a big critic of crypto and he comes out and he's like Hey, I was wrong. You know, I looked some data things change boy. I was I was off on this one I'm going to go all in and he's going in pretty heavy not all and he's got like 7% He actually owns more crypto and he doesn't gold now. It's pretty impressive So on this stage at the salt Conference in new york he talked about there was a couple of things first. He said look If we get clarity for these For all the different products that are out there He goes if that we get clarity, he goes, we're going to see trillions of dollars flow into it And he talks about the canadian etf the bitcoin etf. He said in a couple hours They had billions of dollars of demand and he goes and it wasn't from institutions It was from retail investors who were like, oh, I guess this is safe because it's an etf It's been approved by the government. So I guess I can get in there's a lot of money out there I think that is like, you know what? I don't really trust this stuff And I hear about all these exploits and rug pulls and even my man mark cuban got rug pulled on Iron finance. So I don't want to deal with that but an etf. That sounds pretty good. I'm used to etfs I know that I've got a lot of money. I'm gonna get into it. So that was uh, one of the things and he said This is what could propel bitcoin 200k. That's pretty much the whole thing He talks about forex traders and how much he despised certain traders. It's kind of funny I'll link that also in the end but this Right here. I wanted to finish up with this Because there is a shifting narrative around what is going on as far as crypto Stable coins not so much but as far as like crypto, this is interesting. So this was Quick little article bank of england crypto assets pose limited risks Here's what they said The bank of england says that crypto assets pose limited direct risks to the stability of the country's financial system They state crypto asset and associated markets and service continues to grow and to develop rapidly Such assets are becoming increasingly integrated into the financial system the fpc That is the financial policy committee. That's right considers that financial institutions should take a cautious And prudent approach to any adoption of these assets. I find this A shifting narrative because before it was all like no, we can't get in this. This is a scam This is all used for listed activities. We should never be involved in this to now It's like, you know what maybe a little limited endeavor and then later I think in a year or so like, you know what we're on board We're gonna have you guys come in if you want cryptocurrencies We can we can custody it for you just like the americans are doing and their banks We'll do it over here and we all want to be a part of it because they know what's going on They can take a look with the writing on the wall and go We don't want to get blockbustered. You can either get beat by them or you can join them So I think this is a departure from what's going on as far as the banks They know what's going to happen. Then lastly, I want to say this This was a great article because it says the IMF the international monetary fund warned that the rising Populate of crypto posed new challenges to financial stability Saying that could reduce the ability of central banks to effectively implement Monetary policy and create financial stability risk. So here's what we have The IMF comes up and says We don't like what's going on here. This is bad. We can't really do much with this So we're going to say it's awful and the banks are like, all right We'll be on board with that because you know we're kind of in in cahoots together and now they're like wait a second Everybody wants this stuff and if we don't get on board they're just going to leave us behind Do they really really need banks in all honesty? I'm just waiting for the first exchange to give me a debit card Maybe I should go to crypto.com because uh, then my bank is done. I don't need a bank I can just pay for everything in my debit as long as they have a ch. I can pay my bills I'm good to go So in this situation INF central banks and they're separating We'll see what the fight is at the cbdc and that is it. So look A lot of information today if you made it this far. I want to say thanks for sticking with me I really appreciate it if you like these types of videos go and give it a thumbs up give it a like Consider subscribing everything we talk about is time sensitive every single day But that is it for this one. So thanks so much. I appreciate it and I'll see you on the next one