 Welcome to Digital Asset News, the top stories in cryptocurrency digital assets and break them down into bite-sized pieces. Today, interesting stuff and it's not just what's going on in the cryptocurrency digital asset market but what's going on in the traditional market. So first up, one trillion in housing bonds, US real estate crisis held back by the Fed's mortgage purchases. So this on top of all the securities that it owns on top of all the quantitative easing can only lead to one thing, disaster. So another hard fork is coming up for Bitcoin cash and that means it could soon drop out the top 10 crypto ranking. We're going to go over what the heck is going on because forks are no fun. Also Polkadot based DeFi project plows ahead and 205 million has already been staked on staffy. And this could be one of the reasons why Polkadot is one of the few projects that's actually up in today's Red Sea. And lastly we'll go over Q of the day, we're just going to talk about the upcoming US presidential election and what you can expect as far as the volatility and if you should take it out into stable coins, I'll do that at the very end. Before I move on, I'm happy to announce part of the proceeds from all the digital asset news videos are going to help a charitable foundation called dog is my copilot. And what they do is they take dogs and cats from high kill shelters like the city that I live in right now, El Paso, Texas, and they fly them to different parts of the country where there are not as many dogs and cats that are prevalent. So they will take them from Texas and they'll fly them to other areas of the country such as Colorado, Utah and Wyoming where the shelters are not as packed. So if you want to learn more about that, the website is dogcopilot.org and it will also be in the description of every one of my videos moving forward. All right, so let's break in the market. So today it is September 3rd. It is high noon Texas time and what the heck is going on? Nice little sea of red. Bitcoin down almost 6%. 10,700. What are you going to do? I thought it would stay above 11, but here we are. And actually, I was pretty hopeful yesterday that it would go above 12 and hey, here we are. Ethereum just barely above 400. I got to tell you I'm happy with that because it was reaching the peak at almost 470, 480 somewhere around there. I thought it would fall below 400. Here we are. So I'm pretty happy about that. Tethers, Tether, XRP. Hey, one good thing. It's only down 4.8% at 26 cents. Watch out. Polkadot is up and is one of the few products that is up at 4%. And we're going to talk about potentially why that could be. Chain link down, Bitcoin cash, everything's down across the board. We don't have to dwell on this. Tron is up 33%. That could be because of its new app that is in the Google Play Store or as far as wallets and it looks fantastic, up 33%. So congratulations to all you Tron holders. You're one of the few that are actually making it. And everything else is down. NEM is up for some reason. Urin.finance, our D5 product at a whopping $32,000, which we talked about a couple of days ago. So congratulations to Urin.finance. Let's see how long that can last. And off we go. So before we break into today's top stories, let's take a look at what's going on in the traditional market. So a little bit of a decline if we take a look at the S&P 500 just for today. So I think we opened up around $35, $64. And then a little bit of a tumble and a little rally and a tumble, which right here doesn't look too bad. But let's take a look at the five day. And that looks pretty massive. So here we are, $35.79 and just a big, huge sell-off. What the heck is going on? Well, we'll get that in a second. We did a quick poll. I just asked a question. Today's crypto market dip has my hands shaky, even, or strong. And the vast majority say that they are strong. And I wrote, I'm glad to see it. I'm glad to see it because in our community, a drop of 10% isn't a big deal. But a drop of 10% in the traditional market, like you would see like with the S&P 500, down 3% or 5%, people are losing their minds right now. And they are selling like crazy. And I got to tell you, if you are in the traditional market and just coming over, welcome. This is not a big deal. Don't worry, don't panic. Everything's going to be okay. There's huge swings on the uptick. Just got to wait a little bit. So if you are coming over from the traditional market and you have lost maybe 3% to 5%, not a big deal. This is what we call a Thursday. We don't care. What we are waiting for is the big upswing, and that is going to happen. Just sit around and wait a while. Everything will be all right. But the real question is, is how low can this actually go? Well, let's dive in. So first up, 1 trillion in housing bonds, US real estate crisis held back by Fed's mortgage purchases. This is scary. This is one of those things that really does concern me because the government is trying to do its best. The Fed is trying to do its best. They're trying to stave off economic collapse. And this is the best they can do. But I have to tell you, there's no end in sight for what's going to happen. And I only see dark days ahead. I just do, I don't, I'm not a very, I'm usually a pretty optimistic guy. Really I am. But with this going on, I just don't see any way around it. Anyhow, emergency powers to stop landlords nationwide from evicting tenants has been enacted by the CDC, the Center for Disease Control and Prevention. Moreover, the Federal Reserve has purchased 1 trillion in mortgage bonds since March. 1 trillion, that's what the T, capturing 30% of the country's outstanding mortgage bonds. So you have to understand everything is relative. So this is good for the people who were laid off, who could not get unemployment, who are, who did get unemployment, but now that has been slashed in by a half or a third or something like that. Then of course Congress, if you're not from the US, Congress went to go vote on that bill and they couldn't come to resolution. So they took a vacation and said, ah, we'll get to it later. Swear to God, that's exactly what happened. So all these people are in the lurch and they're waiting for a bailout because there's a lot of different small business that have been closed. Getting unemployment has been diminished. So it's pretty hard to pay for all your bills when you have no job, when you have no checks coming in, when you have nothing to really fall back on and you're expecting the government to kind of help you out, bail you out just like they bailed their friends out and all the big businesses. Well, guess what, they're not gonna do it because their vacation was much more important than you. So here's what's happening. The Fed is stepping in and they're buying everything up and that is going to be a massive problem going on down the road. So you have to look at it like, if you have people who can't pay their rent, that's one thing. So they say, okay, well, don't pay the rent but they want to fix you. Now it goes to the next higher level which is the people who actually own the buildings. And yes, they're in a much better position to handle this economic downturn, but for how long? Because guess what? When renters can't pay the rent, now the person who owns the building says, okay, well, let's see what we can do here if we don't get 10% or 20% or 30% of the people who can pay. Well, now I have 70% of income coming in. Well, guess what, taxes are still due. You still have to pay water, gas and electricity if that is what is provided for your tenants. And on top of that, if you don't own the building outright, well, guess what? You gotta pay the bank. And the bank says, hey, sorry for commercial loans, there is no forgiveness policy. We only do that for the retail. So now what do you have? Now you got a problem because you're gonna have a lot of default loans and I only see that happening not only for this but just for the average Joe Blow trying to keep up with the Joneses, getting a new house, so on and so forth. So I see nothing but problems. Anyhow, moving on, all across the country, homeowners and rental tenants are facing a crisis and the signs are showing in a number of hard hit states. And before I move on, I don't know where you're at in the world, but if you're in the U.S. or you're in Europe, Canada, Mexico, wherever else, do me a favor, take a look at the prices of houses in your area and you'll see that in a lot of places, especially in the U.S., the prices of houses are actually going up. Why is that? It's because people think that this is the best time to buy because they can pick up these houses that are cheap and guess what happens? The price of the house actually has increased. I've had friends who have actually tried to get houses right now because not just for investment properties, just for like an upgrade, the families increasing so they wanna get a bigger house and guess what happens? So they go to get a house and they say, oh, well, it's at 200,000 right now. They come back a week later, trying to jockey for a position and guess what, now it's 230,000. What the heck happened? Oh, well, the bill just increased the price because there's been so much demand. Where's the demand coming from? Well, it's all the people who want to get for investment properties because they think this is like 2008 and they're gonna get a bunch of cheap houses and then the price is gonna increase. That's not what's gonna happen. What's gonna happen is there's gonna be a bunch of defaults and even the agent told my friend, just give it six months to a year, come back and buy this house at 40% off because they're gonna do all default in the loans. So that's a problem, but I could be wrong, but who knows? All right. Lastly, it states international investors who invest in US real estate prior to COVID-19 are now left holding the bag according to a number of reports. A number of real estate proponents believe the US housing market is rebounding but most people don't understand. The Federal Reserve is trying to keep the real estate market afloat. That note was already done. Then lastly, states analysts from Morgan Stanley say that the Fed is purchasing these outstanding mortgage bonds at eight extra rate. It has leveraged in the past. Moreover, Fed Board members have disclosed the pace where main at least at the current pace and distress US properties are coming in 2021, which I just talked about. So I could go on with this article but it gets even more grim but you get the whole gist of it. I don't need to be the dead horse. 2021, I think, is going to be an awful time for housing, for small business, and for just business in general and the traditional market. I do see an uptick for cryptocurrency assets, especially for safe haven assets such as Bitcoin because there's going to be so much volatility. And if you don't think there's volatility coming, wait till the presidential election. And I'll talk about that in a bit. Let's move on. Next up, another hard fork looming Bitcoin cash could soon drop out of the top 10. Bummer. All right, so what's going on? There are two opposing factions within the major players that support the B-Cash Bitcoin Cash Network. The Bitcoin Cash ABC and the BCHN. The BC, this is like I was back in the military. There's so many acronyms. The BCH ABC factions have been advocating for a minor tax, whereby about 8% of minor awards are deducted and dedicated to the betterment of the Bitcoin Cash Network, which seems kind of reasonable. 8% tax, and we're going to try to improve the network. We're going to go this for the minors. And you know, on one side of the light, cool. We'll do that. On the other hand, the BCHN faction says, nope, I'm not going to do that. So the standoff now has spiraled out of control, leading to the ABC faction declaring intentions to force Bitcoin Cash hard fork on November 15th of this year. If affected, the hard fork would result in a chain split and create a separate chain, just like it happened back in 2018, when it results in the creation of the Bitcoin SV. And we all know how fantastic that went. Although, I will say this, as far as the Bitcoin SV fork, it isn't the top 10. So, you know, I thought it was going to be awful and I was wrong about that because it still sticks around. I mean, now it's in the 12, but every time I see Bitcoin SV, I'm just like, I don't know why it's there. Just don't know. Anyhow, so here's my final thoughts on that. I'm sick of these forks. I'm tired of the confusion. I'm really tired of new individuals coming in who are like, hey, what's up? We got Bitcoin, Bitcoin Cash, Bitcoin SV. I got a new one coming up. I got Bitcoin Gold, Bitcoin Tomato, Bitcoin Potato Foot. What the hell's going on? And I'm like, you know what? Just stick with the original. That's all I can tell you. Like, which one's the original? Because when I go to bitcoin.com, that's Bitcoin Cash, right? And everybody's confused. I just wish it could consolidate into one Bitcoin, but here we are. I think it's a mistake, but people are gonna have their differences and it's what I really hate. And I don't know there's any resolution about it, but let me know what you thought in the comment section. Let's move on. Next up, Polkadot-based DeFi project plows ahead. 205 million staked on staffee. What a great picture. Plows ahead. Anyhow, nearly 2,000 addresses have staked 205 million on the Polkadot-based DeFi project staffee. First of all, I don't know what staffee is. It sounds like a pretty good thing. DeFi, that's like the new hot thing, right? Maybe it would be good to invest in. I have no idea, but it looks like it's already overbought. I'll get in that second. So staffee lets users stake their proof of stake tokens and gives them receipts of the token, which they can use, then use elsewhere in crypto. Staffee's a DeFi app built on Polkadot has locked staking tokens worth 205 million. That's a lot of money. And I'm very sure I'm on time. Bonded across only 1,700 plus addresses. That's not a lot of people, 1,700 addresses and who knows how many are duplicates or how many people own like five, 10, 20 of those. Who knows? Scary. The project allows proof of stake token holders to stake their assets and provides them with tokens that represent these stake positions. Atom tokens become our atom. Polkadot's dot tokens become our dot and then the other proof of stake blockchains. So it's the same thing. Just like what they're doing with urine compound and synthetics. With urine, you got YUSD compound, you got CUSD and synthetics, it's synthetic USD, same type of thing. So that's how it works as far as staking and all those things go. The token stake on staffee include Polkadot, Kasuma, KSM, Hazos, Cosmos, Matic, Kava and Harmony. Interesting. Matic, that was supposed to be for Ethereum. So good to see that's branching off. Polkadot's making waves, launching Polkadot's favorable in the current Ethereum only DeFi sector as gas fees in that work reach 500 away this week. That's a lot of money. And I've heard nothing but problems as far as like the Ethereum gas prices. So there's a nice little website I always like to go to because it's a visual type of thing. It's called TXStreet.com and you can see the actions and all the different things that are actually happening as far as like transactions for Ethereum, Bitcoin and Bitcoin Cash. So if you take a look at Ethereum right now, it's pretty active little sector, right? Here's the medium fee. Here's the transaction pool count, transaction per second. Only 11 transaction per second. That's pretty low, honestly. So and you can just see all the difference. So here's Compound, ZeroX, Auger, Tether, Tether, Matic, Uniswap, Curve, all those things. So it's pretty cool how it all lays it all out and this has just been growing and growing and growing. So it's pretty active, right? Let's take a look at Bitcoin. What's going on over there? So Bitcoin, of course, not too much. It's all stacked up every 10 minutes and here's what's happening and it's very slow. Let's just say that. Transaction per second, 4.36, what are you gonna do? But yeah, slow goes the boat. Let's take a look at Bitcoin Cash. See how fast that's moving around. Editor, please put in cricket noises. And that's Bitcoin Cash. So if they're gonna have a split, I can only imagine how fantastic that's gonna go. Anyhow, let's go back. Moreover, this is pretty interesting. Ethereum's processing speed is around 10 to 15 transactions per second while Polkadot can reportedly scale up to 100,000 to 1 million TPS by implementing parallel blockchains. Now, if anybody has any type of documentation or any type of website or some type of PDF that they can point me to that proves this, I would love to see it because that's amazing right now. If they can do that, maybe that's one of the reasons why it went up all the way to number six, number five on the crypto market cap. So that'd be very interesting to see. They can do that. That's awesome. Several other dApps are also set to launch on Polkadot including Acala and Snow Fork. I'm not gonna go into those. I will link this article in the description. You can check it out. Staff has moved to the final phase of the mainnet launch with the staking drop, similar to airdrop, of a 2% supply of its governance token, FIS to existing stakeholders. And that's how this whole DeFi thing works, right? So you're able to stake your coins. They're gonna say, thanks so much. Here's our governance token. And that governance token will be worth x amount of dollars. So like if you look at Sushi, that went from, well actually it went from like a hundred something dollars and then all the stakeholders sold off. Then went to three, to five, to seven. I don't know what it is right now. But that's the whole thing. The governance token causing liquidity and getting all that price action so you can actually make a more money. But reportedly the airdrop for FIS was oversubscribed by seven X. So there you go. DeFi in my humble opinion is going to be huge. It just right now, it's very dangerous. So you gotta be like a shark. You gotta get in and get out. Cause if you stick around too much longer, too long you're gonna be holding a lot of bags. Just my opinion. Let me know what you think in the comment section. Let's move on to Q of the day. All right everybody, welcome back to the office for the Q of the day. So this one comes to us from Joy. And Joy asked a, it's a pretty interesting question especially with what's gonna happen in the next couple of months. She says, hey Dan, watch your videos. Thanks so much, appreciate it. She said, you said that you are not a trader. That is very true. And you hold your crypto assets and I mostly just hold my cryptos as well, however. Because I see it, it's a long-term investment. But with the U.S. election coming up, if you don't know what's gonna happen in the United States we're about to have our four year election for the president of the United States. And that's gonna happen in November. So we are in September, so September, October, November is gonna happen. So there's a lot of volatility right now. Which is usually what happens before an election. But Joy says, do you think it's a good idea to just hold or take the profits for now and re-enter the market a few months after the election? I saw you about exit strategies and it was very helpful but one is your opinion about this strategy during the election period as it might get volatile. I've only been in the crypto space for about four months so I don't know how the U.S. election will affect the market. I entered Bitcoin at 9,500, congratulations. Ethereum at 250, Link at $8 and Theta at 25 cents. You think it may be okay to just write out the ups and downs of the market or do you think it may be better to exit with profits? Great question. So the answer is, it really depends on who you're talking to. If you are talking to a trader, they're always telling you to take profits. And I gotta tell you, I gotta tell you, I gotta tell you. I gotta tell you, it only makes sense at some point to take some profits just to make sure that you're not sitting on the sidelines going, man, I could have taken, you know, a couple hundred bucks out of here or it's a couple of thousand dollars, whatever it is. So if you wanna take profits, take profits. That's not, there's nothing wrong with that whatsoever. I mean, I took profits for chain links. I knew it went up pretty high, but it might come out a little bit, so much it did. So, but the next question really comes down to, do I put things into stable coins during the whole presidential election because it is so volatile? So the thing you have to understand is that volatility is what we'd like to see here in the crypto market. We'd like to see crypto, I mean, well, I'd like to see more of the volatility in the traditional space and in the economy and in the traditional market because the more volatility we see over there, the more people get nervous and they look for safe haven assets or for alternative investments and they come to cryptocurrency. So I like to see that. However, to answer your question about how's it gonna affect as far as the presidential elections, I didn't take a look at, there was a Forbes article and it talked about how, let me pull this up. Here's how the stock market has performed before, during and after presidential elections. And as you can see, the growth of the dollar invested in the S&P 500, January 1926 to December 2019, it's only gone up. Now, there's been some dips after the election you can see between Clinton and Bush. There was a huge drop off and then Bush to Obama. Oh, we have to remember this was in 2008 when there was a huge economic recession and different market collapse. So that might not have been so much with the actual election itself, but what was going on with the overall economy. And then from Obama to Trump, this is where it gets kind of interesting because in the article it states, historically, volatility in the stock market is elevated in the months leading up to an election, which is right now. So right now is the perfect opportunity for volatility. And we can see it because in the stock market, those people are losing their minds. They're like, oh my God, three and a half percent or 4% what are we gonna do? We should start jumping off towers. Don't do that. But I mean, they are freaking out over four or five, 6% losses. And like I always say, if you think that's a bad day, in crypto we just call it a Tuesday. So I don't know what you're whining about. That's just me. Anyhow, it goes on and says beware of bold predictions recall the 2016 election. So if you don't remember in 2016 or if you're not in the United States, in 2016, Hillary Clinton was pegged to beat the pants off of Donald Trump and of course she lost the electoral college and Trump was put into office. So before the night of the 2016 election, as more states began reporting that a Trump victory was gonna become likely, the stock market sank rapidly and the S&P 500 fell by more than 5% in pre-market trading, triggering the circuit breaker which caused everything to shut down, which is pretty awesome. But what's even more hilarious is that by the time the market closed the day after the election, the index was up over 1%. But if you do a Google search for 2016 Trump win and the stock market returns, the results that you're gonna get from Google, it's gonna talk about instant recession, the market tanking, the stock sinking and of course this is all published before November 8th, 2016 of course. So it was all doom and gloom because this new president is gonna take over and guess what? The return, the average annual price return in 2019 was 14%. So the thing is, all about these different factors, as far as the presidential election, I don't know who's gonna win. I don't think anybody does. I mean, that's just how it works. If I did know who would win, I would probably go back to Vegas and put some money on the winner because you can do that in Vegas, but you can't. So the thing is, I wouldn't take money out because here's a scenario that plays out in my mind. You take your money out, you put in stable coins, right? And then whoever wins, then the stock market goes up for some reason and they say, okay, we want that guy. And then the cryptocurrency market is like, okay, well, we're also gonna follow suit and we also go up, everybody's happy. Well, the money that you put into stable coins, let's say Bitcoin was at 12,000. Actually, who knows? It could be at 9,000. Let's say it's at 9,000 and all of a sudden overnight goes up to 10,000. Well, now you just lost 1,000 bucks. I mean, essentially that's what happened to get back into the same positions that you did with Bitcoin. However, opposite is true. You could take everything out, put in the stable coins, see a massive pullback and then put it in. You're like, I'm a genius. Depends on if you're a trader or not. Again, it's all about who you ask. Me personally, I am going to, I do not care. I honestly don't care who wins. So wherever we go for this position, I don't care if it goes up, I don't care if it goes down. Just like today, I could care less about the market. I just sit back and I think to myself, man, I'm glad I'm not trading. I'm glad I'm not leverage trading. I'm glad I'm on helpless positions that I have to do. That's it. Now, am I perfect at this? No, I probably should take more profits at some point. I just don't because I just let it sit. It's just my mentality, the way I do things. Like I talked about yesterday, when I invest in land, I just put money in land, I just let it sit there. And then, five, 10 years later, I come back and go, well, how much is it worth now? Oh, great, made some money. And that's pretty much it. So for me, I'm just going to sit back, let it all, whatever happens, happens just like today. And then we'll see what happens in one to three years. That's what I got. All right, thanks so much for the question. Let's jump back. All right, hope they answered some questions for the final segment. Just wanna let you know that for all my subscribers, I wanna say thanks so much for joining up. If you don't know those join now button on the bottom right there. It's a buck 99, you don't get anything special. I just do random shout outs. So random shout outs for the day, for the new ones. Doug Lemley, hello, Melissa Davis, Johnny Henderson, Joey Serena. Who else we got? Mark, that's a good one. Dreamer, all right, soft, my man. Barry Balasco, an amused web design. He's helping me with the actual website that I need to build, which I'm actually starting on yesterday actually. So we'll see how that goes. That'll be a free website for education so people can learn more about blockchain cryptocurrency assets. And I'll let everybody know when that is completed. So thanks a lot for sticking around. If you like these types of videos, there's gonna be two more that's gonna pop up on your left and right. I don't know which ones. YouTube kinda controls that, just like they control all the crappy ads you might have seen. If you didn't like the ad that you saw and it was a scam, report it to YouTube, they'd love to hear from you. And that's it for today. So thanks for sticking with me, appreciate it. See you on the next one. Hopefully tomorrow is more of a green.