 I try to do these things around evening Philippine time but today seem particularly auspicious since we have the Bitcoin spot ETF about to be approved by the US SEC so that's a whole thing. So in this episode we're just going to be chatting a little bit on news developments regarding Bitcoin in particular and crypto in general. Why big lang andami ulit nagdadal-dalan about crypto and that's good like if there's more chatter from people who you don't normally associate being in the space like yung mga friends mo na ulang interest or nag-invest datit as nag-drop out, that yun nga the market is heating up because the market only heats up if you get fresh money coming in. Hindi lang yung mga usual investors but the general public and that's why the Bitcoin spot ETF is such a big deal. We'll talk about all, we'll talk all about that right after the ad break when I can find, here we go. Wala pang 5 minutes nagsizigit ka na para sa windows mo. Maraming na kaming na tulungan. Dati, said hindi purchase ako. But now, I found a log of my life. Dati, ingresan walang purchase ang life ko. But now, I'm a world-class Zuba instructor. So, web developer ako and content creator for a YouTube channel and ngayon ganun pa rin ako pero activated na yung windows ko. Kaya ako nagahahanap ka ng legit, mura at original software. Check out cdkoffer.com I just saw a news report from ABSCBN like a couple of days ago explaining or the topic was na yun nga. Is it time to reinvest in crypto? So, just as a general explainer and then we'll get into why I wanted to do this stream today. It's not a good time. A lot of people are still at work. It wasn't announced also but today is a great day to do a crypto watch episode. Not because maybe the market will go up but because it's really emblematic of how crazy crypto can be. Parang talagang, like the events that happened a few hours ago are just crypto in a nutshell. Sobrang roller coaster niya, sobrang andami mo conspiracy theories especially if you follow crypto, Twitter, et cetera. So, the big news in the short term is that the US SEC, the Securities and Exchange Commission is about to most likely 99% sure within a couple of hours approve the Bitcoin spot ETF. So, that's a lot of jargon. What that just means is it's an investment product that makes it super easy, a lot easier for the general public and institutional investors like pension funds. Because the ones pushing or applying for spotcoin Bitcoin ETF are BlackRock, all of these big investment companies. So, the market is very bullish on it because once the US SEC approves the spotcoin, the Bitcoin spot ETF, then it'll be a lot easier for new money to flow into the market. Just saying hi, sub Casey Bolio, smartlester. Sob Ken, this might be a good time for you because with the time difference, not so great a time for Philippine viewers. I did not get any free Bitcoin from GCash, Casey Bolio. Parang ayaw also want. I can imagine that it's double now. Don't add yet though, don't add yet. We'll talk about a little bit in the episode when, in case you check your email, I have an email to you. Basically, we sold some of your stuff and we're asking where we can send the proceeds to. But later on in the episode, we'll talk about the roadmap for crypto for 2024. But just for today, finally, the US SEC is most likely going to approve a Bitcoin spot ETF. And the backstory to that is this has been 10 years in the making. 10 years na since the first companies tried to register this investment product with the SEC. The SEC turned them down. They had to go to court. So they went to a federal court in the states arguing that the denial of the SEC was basically capricious. Not based on logic, not based on law, not based on reasoning. And the court agreed. The court said that the SEC had not proven that there was a logical reason to deny this Bitcoin spot ETF. So basically napilitan yung US SEC to approve this. A lot of people are waiting for it. And like back in November, I think there was a news organization na medyo trusted that came out with a tweet saying na na-approved na big lang sobrang like skyrocket yung Bitcoin and then they had to apologize because that wasn't the case. And just like a couple of hours ago, so yung deadline for the approval, kasi may windows yun e, mag-submit ka nung application, there's an X amount of time that the SEC has to decide on it. So ito na yung last day. And just a few hours ago, the official Twitter account of the US SEC posted na yes, approved na yung Bitcoin spot ETF. And then just a minute or so later, like literally a minute I think, the chairman of the US SEC, Gary Gensler I think was a Gary something. Who is the favorite boogie man or villain in a lot of the crypto stories? He tweeted from his personal account na mukang na-hack kami. Yes, the US SEC Twitter account sent out that message saying na-approved na yung the Bitcoin spot ETF, but that is not true. So in the span of a couple of minutes, obrang bumagsak yung market, actually when the announcement was made by the official Twitter account of the US SEC, bumagsak yung market. And then when Gary Gensler mentioned na-approved na, big lang umakket ulit. So it was a real roller coaster. So should you buy now, a lot of people are saying that this is not an unexpected event. The deadline for the decision of the US SEC was very clear. As the days got closer and closer to the deadline, it became more and more apparent that it is more and more likely that they will be approved this time around. So a lot of people are saying na, marami na speculators that drove the market up higher and basically the approval is already baked into the price. Hindi na-acket yung market. Basically, a lot of people are just waiting for the market to sell. Sorry, waiting for the approval hoping na tataas yung price ng Bitcoin and then they want to sell. It's actually been wild following this for the past six weeks like since late November through December up to today. It's been rumors and the price the last week of December. Usually walang nangyari last week of December because they call it in stock trading, window dressing na lang. You don't want to make a lot of major moves before the new year. A lot of people are on holiday. You also have done your tax stuff. You don't want to push your profits to the next year because you want lesser taxes in the taxable year of 2023. So you don't want to do a lot of trading, a lot of profit taking or what not during the tail end of 2023. But come January 1, like Bitcoin shut up. There was a short candle. So it's been really wild watching this news and to be honest, I have a few longs which are in the green. So longs mean you used leverage to basically bet. So you can do it traditional style na. I have $100 and I will use that money to buy Bitcoin and I actually own the Bitcoin or you can use leverage trading like buying futures where basically pinapa the exchange that you're on will lend you money. You put up some collateral whether that's US dollar or some other or a cryptocurrency and they let you borrow obscene amounts of money. The amount of leverage that you're allowed to have on the exchanges, the major exchanges is insane. At the time, like mga November, so I've been trading for a long time. I've been in the crypto space for a long time but I really only got back into the game around August last year. Before that, I was really kind of, I took a body blow and Bitcoin hit an all-time high of 69K and I wasn't expecting it to go down and it really went down and it went down really fast. So naulaw nung gana. So I was still watching the space but I wasn't actively trading. But I got back into the game last August and ever since then, I've been trying to up my game in terms of profits generated and really the amount of time that I'm spending thinking about the trades, following the news, executing trades and things like that. But last November, when I was just starting to get, when I was just starting to do leverage trading via futures, like I lost a lot of money and I was like, ah, the whole point was like I wanted to get my feet wet and to get experience with futures. Yung nangyari kasi umakiat yung Bitcoin. Inisa ko temporary, taas lang yan. Kasi inisa ko malayaw para niya approval nung Bitcoin spot ETF. And I was thinking that the market would be rational and calm the hell down and go back down. But, and it's an important lesson, the market is not rational. It is rational over time but not in these very compressed time spaces where the very aggressive trading for leverage trading is, you know, deals in. Kaya I lost a lot of money. But it was a blessing kasi basically use a lot of money on futures if your collateral isn't enough to back up the things that you paid for or that you bought using collateral using the leverage. So na call ka, basically your assets are all sold when the exchange determines that okay, lampaskan na dun sa ceiling mo. Ito yung, let's say, utang mo 1,000 pesos. Yung collateral mo is worth 2,000 pesos. Pero bababayan is, especially if you're using crypto as collateral. Basically when your collateral hits the value of what you owe, you'll get called and everything is liquidated. So na liquidate ako, I lost a lot of money. It was a real body blow last November. But yeah, you have to get back on the horse and it was learning experience and it was actually a blessing because after that I became very conservative in the sense na I was still using leverage trading futures but leaving a lot more room for failure and for these market dips. Akit babayan, yung sobrang nakakalungkot kung na call ka, kung na liquidate ka and then two days later, akit yung market. If you had just left enough reserves, if you had just left enough capital in your futures account, hindi ka makokall because your total value is still more than your utang, than the debt that you would incur if you had to close off all of your futures positions. So that was a real lesson for me. It was a painful lesson but a very good one to leave a lot of leeway for market movements and I thought na that was still a lot. I think I was like 300 because you can see a percentage at least the exchange I used crackin may health percentage of your futures account your unrealized profits and losses versus your collateral. So I was like 300% good like 300% healthy when I went to sleep. The next day pucha na liquidate ako like everything in my futures account was sold off to pay for my debt kasi sobrang bumagsak yung market. So that was a lesson for me ever since then I've been using futures yes but with a lot more margin for error. I try not to go below 600-700% health and these are random numbers. It really depends kasi on how much you have in your futures account but just in terms of percentage I always try to have at least 700-600% actually when I go below 1000% health kinakaban ako and that has saved me a lot saved me in the sense na andaming yung futures yung crypto market sobrang roller coaster and people use it like gambling na they borrow a lot with very little collateral and then kontin galaw lang ng market wala na, makul sila, ma-liquidate and you see it in the crypto news all the time $100 million worth of shorts was liquidated kasi bakilaw makit yung market and things like that So painful lesson but an important lesson for me especially because you know the smart trader is the one na may capital to invest long term when bitcoin was $16,000 sa bitcoin dun ka bumili 80% of your of your funds nakapasok na sa bitcoin at that point but I am not a smart trader and basically yung long term investment ko na bake in na kasi andami kung hawak na crypto from the last time na nag-all time high so I figure I already invested it very poorly but na dun na yung crypto pag umakit ulit yan yun ay long term investment ko I can sell it at high prices so that's why in the short term before we get to those all time highs I'm very aggressive using very little funds but maximizing them using leveraged trades yung nga yung futures so that's why I've been following the news with a lot of interest but now I don't know what to do because nung na-announcing bitcoin ETF fake news erroneously a couple of hours ago and ang hirap, you know you're trading in the Philippines we're behind the US sorry we're ahead of the US trading day ng US let's say 9 a.m. New York time is 9 p.m. Philippines patalog tayo pag ising sila so any market movements you're basically asleep for it but now I don't know what to do because when people thought that the news that the ETF was approved big lang bumagsaki market and you know I'm di naman sa nagyayabang but my bags are pretty green I was able to get in at a good price not the best price again but you know they are they are pretty good now but they could be even better if bitcoin hit 48K, 50K parang ganon but will it have and medyo 99% sure na yung mga tao na ma-approve yung bitcoin ETF so the question now for me is should I sell now where I have very clear profits not as high as I expected not as high as I would want it but very clear, very decent profits or keep riding the roller coaster even though may preview na tayo what the likely market outcome will be at least in the short term of the approval of the bitcoin spot ETF so that's that is where I am now that's the very short term but let me just let me just go through chat a little bit sa brennan risk management is key amen to that binmar like the flippant answer would be if you don't want risk don't be in crypto you put it in time deposit you put it in bonds crypto is inherently risky but a strategy with less amount of risk is dollar cost averaging basically you choose an asset whether it's bitcoin or ethereum yung medyo blue chip na man na crypto solana may be and every month you buy doesn't matter if the market is up doesn't matter if the market is down you set a goal for yourself every januari 50 every 15th of the month bibili ako nung 1000 pesos worth of bitcoin for example so dollar cost averaging even though I say dollar cost averaging but you can do it in pesos or whatever the technique there is that you buy over time so yung over time mo yung risk management mo because you're not trying to time the entry or exit properly you're just trying to get the average price of the asset over time which generally is better in the long run than trying to time it because it is really hard to time the market and a lot of people do dollar cost averaging and in fact the numbers like when you crunch them dollar cost averaging or buying a specific asset at a regularly scheduled basis instead of trying to time the market will get you a better return instead of trying to time the market on your own one of the crypto a lot of crypto a lot of crypto twitter likes to treat Michael Saylor as a god Michael Saylor owns a business basically his entire thing is just buying lots and lots of bitcoin kahit kahit baba he is buying a shit ton of bitcoin but yung nga it's not exactly dollar cost averaging but he's not trying to time the market too much it's an average cost over time so you can actually do really well you think as a yung you think high risk, high return low risk, low return but crypto is already inherently risky and if you use dollar cost averaging for a lot of people that would be more profitable than trying to actually time the market hello rich I remember you from the stream my mother board was grounded by my monitor that's very interesting if you're still in the stream how did you find out like you plugged in a different monitor and the keyboard started working but I do remember this question from the stream because it was it was a little hard to diagnose doggie doggie recently bought asrock 6600 napansi ko minsan yung fanya mismo di na ikot or nag-iron pero minsan nagana any info that is normal it depends on the card but a lot of the cards especially more modern cards like the 6600 nakabiltin na yun I will only turn my fan if I reach a certain temperature that is very common so kung nakahaydal yan if you're not running a game on it for example you most likely nakapatay yung fan again it depends on the model the exact temperature depends on the manufacturer but that is often the case I wouldn't worry about it if you notice that your fan is spinning the GPU fan is spinning on load then it should be fine you can use something like MSI Afterburner which is a computer which is a program which you install and then you can be the one to set a fan curve or your GPU so pag 40 degrees pa lang yan gusto mo na ka 50% fan speed na you can do that in Afterburner yun so short term there is a lot of interest being generated in bitcoin because of the potential long term effects of the spot coin the bitcoin spot ETF and these are major players like black rock citadel i think i don't really pin these are the big investment houses and just to add more spice to it in their applications they need to disclose an yung fees that they would charge for okay i want to buy into this fund may investment fees yan that's how they make their money the expected market is so large that everybody with applications is are cutting their rates so pa lang naging sobrang cut truth na yung competition to attract people to their particular bitcoin investment fund their particular bitcoin ETF so people have been cutting rates left and right which would imply nga that they're seeing they're anticipating a lot of demand for this particular investment product but if you haven't bought yet like i mentioned to Casey earlier i wouldn't right now it's like by the way bitcoin is around 46,000 right now again this is not advice this is just what i would do and just this morning i was tempted to buy in but i buy more in but i refrain personally i think it's really risky like there's a big chance that the market will not go up it will tank and even if it goes up you're looking at maybe 10% at the most so a 10% gain versus actually losing money a slim chance at a 10% gain versus maybe a much larger chance of losing money i wouldn't personally buy in now i haven't bought in now i was tempted this morning when i saw what the US when i saw the fake news from the official account of the US SEC i was tempted to buy in but the market looks really dicey and so i don't know i don't know i might lose my nerve and just sell the longs that i have now for a tidy profit but you know a small part of me like wants to keep holding during the announcement to just see what it goes i would love to sell at around 49k bitcoin i don't even like the most optimistic estimates i've seen is like climb to 51 before everybody sells off i don't know but i'm not even looking at 51 maybe 49k for bitcoin i'd be happy to sell at 49k so that's why everybody and their mother is starting to talk about crypto again and then in a couple of months end of march early april will have the bitcoin halving where basically the amount of bitcoin generated is by design nakabakin na yan dun sa program the software running bitcoin the amount of rewards is halved so i don't remember how many bitcoins you get now but if for a successful block creation let's say you're getting 50 bitcoin you only get 25 so and again it's a genius of the system a lot of people outside of the space don't give bitcoin a lot of credit pero pinikisipan talaga whoever satoshi is because the more of anything that you generate there's inflationary pressure it becomes less and less valuable that's why there is the halving baked into bitcoin where over time by design the amount of bitcoin generated becomes less and less so it is a finite asset and we're going to be having the bitcoin halving another halving it isn't the first halving but we'll be having the next halving sometime late march early april so for the long term basically long term 2024 it's supposed to be a good year for crypto a lot of money is going to flow into the bitcoin and after that altcoins led by ethereum solana so if you got into bitcoin got disgusted that you know oh god my dude's coin I bought it at like I don't know 100 pesos now it's like 50 pesos 50% loss I don't want to look at it anymore start looking don't sell yet but start looking because it's expected that the prices will rise in 2024 it's still early wait for bitcoin to go past its all time high of 69,000 some some of the accounts that I've seen that have a good track record are predicting at around 8 you know will over 80,000 yung all time high in bitcoin this year I've seen some speculation like 200,000 something wild like that by the end of 2025 1 million USD per bitcoin that's really way outside of my time frame plus you know these are very very speculative numbers but you know grounded in reality 80,000 per bitcoin will really mean that a lot of the other coins also go up in value just how just like how it was when bitcoin last day this all time high of 69,000 when everybody and their mother was in the crypto space and that's what you want you need a lot of liquidity flowing into the markets buying up stuff sending prices up so if you're out of the if you were out of the crypto space but still have that crypto I would start looking at it just to see where the prices are but wait wait for it wait for August maganyan because kaya nga pa sinmalapa lang tayo but 2024 it's supposed to be a really good year for crypto sabli yung magdaye for an ITX build I think that's perfectly fine my ATX build is 60 an idol for the CPU flame of ryok no because back in the olden days you would mine or create more cryptocurrency using GPUs so that's the hardware that people would use but nobody uses GPUs for mining anymore for bitcoin you could use GPUs before but even back then we're talking about pandemic times hindi na cost effective to use GPUs it just you would spend more on your electricity than you would gain from the bitcoin that you generated so a lot of people were using ASIC miners already back then what a lot of people were mining during the pandemic time was ethereum but ethereum has moved from proof of work to proof of stake basically you need to use a lot you stake your ethereum or the ethereum that you have you stake it with a node or with a validator and that's how you generate more ethereum so no hardware computer is being used but nothing like the roles of GPUs that characterized mining before so this this renewed interest in crypto will not affect the GPU market if anything what might eff up the GPU market is the interest in AI because AI research training the large language models that is hoovering up a lot of GPUs and that's a reason why NVIDIA is you know shot up to a $1 trillion evaluation that's why the 4090 apparently is not available in China because it was part of the restrictions the US export restrictions trying to combat Chinese AI research don't tempt me Kaiser let's do a hardware sugar meme coin and then like let's just ride the wave but I don't want to get in trouble with our SEC who knows how who knows how how our SEC would react to that that's the hope that's the hope but yun nga just a couple of hours ago may fake news it was the official US SEC account but it was fake news apparently it was hacked not hacked but unauthorized access I guess that's a hack anyway and then what happened there but the market thought it was legitimate news because it took minutes before we got official confirmation and the market dropped like a rock so I don't know I don't know where to position for my short term I think this is really short-sighted by our SEC because our SEC has a lot of other things they should be doing even just basic things like creation of a new corporation approval of other investment products I'm a lawyer I used to do corporate law with recognize with a large firm in Makati so I a little familiar with this space not that I've been in it for a long time my wife is still a corporate lawyer with one of the biggest law firms operating in the Philippines so I hear about the space all the time my personal opinion after hearing all those news is that our SEC could be a lot more efficient in doing the basic things that they should be doing and yun nga yun nga why waste time on banning binance finance yes, they are operating they are operating without a license here but there are a lot of other things that the Philippine SEC could be doing to generate investment to protect investors and just a regulation in general I'm not done poorly I'm not a fan of just for example if you want a crowd fund here in the Philippines you can but you have to go through approved companies there are certain companies approved by the Philippine SEC and you can only crowd fund through them and so it was like that was an initiative that the SEC like to trumpet now look at us we're so modern we're so technically savvy na oh, pwede na mag crowd fund sa Pilipinas duman ka lang through these I think there are five companies and you can crowd fund but just recently like a couple of weeks ago it came out that one of the companies approved authorized by the Philippine SEC the president stole money from the company and not pipitrugin they were not talking like a million pesos we're talking like I think hundreds of millions of pesos we don't know yet because they're still auditing the company and so that's the problem when you try to have these regulations in a very fluid space the regulation and you always hear about consumer protection et cetera I'm a grown man if I want to spend my money speculating on meme coins let me edyunya when regulations stifle instead of encouraging investment that's where I think there is overreach by the regulator so on a legal on a legal perspective yes, Binance is not allowed to operate here will the SEC continue with its threat I don't know but on a practical level just use a VPN not only is the regulation not only is the enforcement unnecessary I feel it's also inept use a VPN I mean as millions of people in China their government censors things use a VPN to find out what your government doesn't want you to find out personally, I think the Philippine SEC could be doing a lot more productive things rather than enforcing a ban which on paper is legal medyo may hirap makalusot Binance dito wala nga silang license operate I think that's the kind of license that they need which they don't have none of the major exchanges I believe none of the international exchanges I believe have the proper license to do business here but again I don't think it's ultimately productive by the SEC yes good advice in any market I actually I don't use Binance I use Kraken Kraken is my primary exchange my CX is the centralized exchange compared to DEX decentralized exchange I actually haven't done a lot of stuff with PDAX I used to do a lot of stuff with coins before but coins had a radical re-change and I haven't done business with them in a long time I am thinking of actually moving to PDAX sapkin but the thing with all the local exchanges you don't have it's very restricted and again another reason why a crackdown on exchanges doing business here without a license is ultimately not good for the consumer you're severely restricting the options available to Philippine consumers you don't have leverage trading a ton of coins that are available on Binance on Kraken on other exchanges are not available on the local exchanges here ultimately logay ang Philippine consumer and they'll still get in trouble anyway if you're trying to protect the Philippine consumer he or she can still use lose a lot of money on the local exchanges rather so banning foreign exchanges is not the answer to that so again it's just I feel that's not a productive regulatory development yes, I have mind bitcoin in the fast but don't do it anymore GPUs technically can still be used for mining but yung yung makukuhamon na bitcoin sobrang liit lang sobrang liit lang it's not cost efficient your hash rate it will be super low hash rate is basically the measurement or the speed at which you are able to mine if you really want to mine bitcoin now get an acic miner but even then our power rates are not efficient we have some of the we have one of the highest kilowatt per hour rates in Asia sobrang mahal nung koreyente sa atin dito thank you mahal ko thank you NGCP thank you too if you're watching in Sibu or something you have a different power distributor but our power rates are one of the most expensive in the region when you mine you want to have cheap power because yung basically yung opex mo yung operationing expense mo yung capex mo the capital expense is to buy the hardware that you need to mine the opex would be electricity and that is that is a big that is a big chunk of your budget because you will need to be selling the bitcoin that you're generating in order to cover your electricity so in general mining in the Philippines is not recommended I would not recommend it not unless you have let's say solar you bought solar that's fine part of your capex to feed the energy you would need for machines but yung yung for mining now either you buy an asic miner so that's dedicated hardware or you're mining some coin that is not very well known and so you're very unsure if tatasyan in value and also you're not sure if you can cover your electricity costs because yung all of the major coins particularly bitcoin and ethereum they don't use GPU mining anymore I know right the timing is suspicious so I just wanted to get this stream out probably a couple of hours away from the historic announcement although I love I think Michael Saylor on twitter on twitter on ex the modern name of twitter was like bitcoin ETF is the only product in history which the US SEC approved twice kasi yung first time yung na hack yung twitter account tila and then the second time will probably be the official one in a couple of hours so very exciting for the markets although the initial you look at the data when people thought it was approved big lambo magsak and when it wasn't approved big lamb to maas sorry I do need to play the ad again before I forget then I'll get to the chat and my final thoughts on the crypto space moving forward in 2024 windows 10 and windows 11 activation pose legit safe and pinakamura madalilo mo order hanapin ang windows version na gusto mo piliin ang preferred paper and pencil wala pang 5 minutes na sizigit na para sa windows mo maraming na kaming na tulungan daddy 7 depart ako but now I'm from the love of my life dati ingresan walang purtos ang life ko but now I'm a world class Zuba instructor so web developer ako and content creator for a youtube channel and ngayon ganun pa rin ako pero activated na yung windows ko kaya akong naghanap ka ng legit mura at original software check out cdkoffer.com check out cdkoffer.com like if you must speculate right now like you're in FOMO and you're like oh god there's like this big thing I would maybe not buy bitcoin but buy ethereum the old coins are supposed to do well after money shuffles out of bitcoin but generally there is a market generally after the approval a lot of people think with good reason I feel that there will be a general market crash back to around 35,000 per bitcoin so resist the FOMO wait until we get to around 36-37 again before buying BTC if you really do have FOMO and you're gali ka sa pera and you just want a little bit exposure because you never know and that's the thing with crypto in particular you never know big lang mag roller coaster yan but I think the safer bet that will still might get you a lot of money is ethereum parang waiting to explode na lang in ethereum but if that doesn't happen but when bitcoin goes down a sharp drop usually all of the old coins drop as well but in the very near term if you have FOMO I would personally buy ethereum over bitcoin I'm not going to because I'm also already long I mean I have long positions I've already entered the ethereum market on some longs but actually ethereum is one of the things I'm looking at for 2024 as well I see this a lot I see this a lot especially on local Philippines on local crypto groups because everybody is like don't keep it in a centralized exchange like Binance or Kraken leave it in a dex decentralized exchange like I'm going to be honest all of my money coins and money is in Kraken is in a centralized exchange and a lot of the Uber crypto guys are like oh, oh, oh, mga hakiya and you lose all your money but my point because in holding crypto is as an investment I'm not holding it as a safeguard against you know Armageddon against the end of the world I'm not holding it long term I don't need to keep it in a cold wallet or in a hard wallet what I need is when I have a need to trade I can trade right away yun yung primary concern ko and that's why I have my money in Kraken what I like about Kraken is it's a major exchange but it's not as visible as Binance or as a coin base so Kraken is a big boy but he's not like top of mind big boy so I'm sure people have been trying to get into Kraken for years trying to hack but they do seem to have a very competent security team wala kapag naringig na na hack yung Kraken and I've been on them for years for a very very long time I've been on Kraken so I think it really comes down to what you need the exchange for if you want more security if you don't if you're not very liquid with your coins like hindi pasok labas hindi pasok labas then a dex or a cold wallet is fine but for my needs I'm happy with Kraken and hang on just one sec I think I might have hang on guys I need to sign something for hardware sugar I will be right back sorry speaking of doing iso business doing in the Philippines to sign some stuff for the business permit renewal of hardware sugar so yun I really think it depends on your needs I would not be too scared about leaving all like me or substantially all of your amount of your money in a secure and trusted centralized exchange for me that would be Kraken for other people it would be other exchanges and then just like last on this parang yung I notice a lot yun nga on the local Facebook crypto groups if you want to sound like you're an expert if you want to sound smart whenever somebody brings up centralized exchange like pedax then you say dito ka sa dex and it's kind of like it's kind of like in computer so when you want to sound smart it's like oh wakam mag-RGB kalokuhan yan and I don't know oh bottleneck my number one pet peeve if you want to sound smart and you're talking about computers you just bring up bottleneck bottleneck bottleneck and then but it's not really very useful like I I don't feel it's very good advice because the recipient of the advice might have different needs and again that's the same with bottleneck ako personally I got a really fast GPU before compared to my old CPU but for my needs sapat na siya I was able to run modern games on my old system similarly a lot of people you know because dex is less well known than a centralized exchange so you sound smart you're like in the know naka decentralized exchange ako but it might not fit what the person needs so hindi siya yung parang automatic na mas magandin dex over sex or sorry centralized decentralized exchange over centralized exchange or vice versa it really depends on your needs but I would be worried about anybody with automatic answers like that automatic answer na bottleneck automatic answer na mas magandin yung decentralized exchange over a centralized exchange each has its own pros and cons indeed indeed so that is the short term reason by the crypto market when you say crypto market you're really talking about like 80% sometimes the bitcoin market like where bitcoin goes generally the other cryptos go as well that is a short term reason why people are becoming interested in it again the anticipated large influx of new capital because of the probably soon to be approved spot ETF but in the medium term talking like three to six months more interest in bitcoin will be because of the halving which a very big thing it will never go back like if you're earning 50 bitcoin now per each time that you mine like each time that you that you mine a block you mint a block it will be 25 after the halving I don't know the exact numbers but it's divided by two you're it's halved so and that never goes back pa kontin ang pakonti ng rewards and the supply of bitcoin is finite so halving is expected to push interest further in crypto in bitcoin towards the middle of this year leading to another all time high of bitcoin and leading to bags of money also for the old coins so again this is not financial advice it's just that I've been interested in the crypto space for a long time so I find that over time like you know you could do a vend diagram before of people in crypto and people with no idea about crypto and slowly over time nago overlap na yan like a lot of people a lot of people that I wouldn't think would be interested in the space became interested nung when it started to reach all time high yun nga dumating na sa mainstream consciousness how early was I at bitcoin single digits when I became interested in it pwede ka pang mag-CPU mining obviously I'm not a genius because if I did I would have just kept buying and buying bitcoin I mean it was it was like a hobby it's like wow it's really interesting that how it's constructed and how you can mine it using your computer at the time yun din na kailangan ng asik miner na ngayon so it's just been really fascinating for me to follow the space I've made a little bit of money sometimes lost a lot of money and that might happen to me now when they probably announce it when it finally gets approved in a couple of hours but we will have to see but definitely whatever happens however the market reacts to the spot ETF 2024 is supposed to be a really good year for bitcoin and crypto in general I'm not saying you should get into it but if you're interested in that space I think there personally is a lot of money to be made if you get a little lucky on your timing if you dip your toes in at the right time so that is it for crypto watch the first episode of January the first episode of 2024 and hopefully it will all be good news but it's not like that in the crypto space it is never like that in the crypto space so yeah thanks for watching we had a video drop yesterday the price watch episode for this month then tomorrow we'll have a short oh and then Friday we have a video coming out I know two weeks ago I said that I would release a podcast episode but I need to release a video for our sponsor so the podcast episode will be moved just a little to Sunday and we do have a lot of videos left in the pipeline wherein it's busy editing them now and I'm also busy shooting some new material now so stop my recording I'm sorry man I'm just about to go but you can watch the VOD and you seem pretty knowledgeable about the crypto space so I'm don't think anything I said in this stream will be of news to you yun alright so I have to walk the dog and then I have a faculty meeting because I do teach the subject of which I find very funny like how I ended up teaching and that particular subject so I do have a lot of stuff to do but I will be glued to my phone waiting for announcements on the approval and yung I really don't know should I sell now maganda na profit ko e dissente na profit ko e and I've always run into problems when I try to hold out for a little longer yun talaga yung problema ko as an investor I think it can go up just a little bit more and like my general advice to myself it's always like pag maganda na sell na pero gusto ko sana umabot ng 49k or so yung bitcoin but I don't know I don't know we'll see thanks so much for watching have a great day guys have a great week and be sure to tune in on the channel we have a bunch more content coming up