 Welcome to the Jalassette News to get top stories in cryptocurrency and Jalassette's and break them down into bite-sized pieces. Today it's all about mass adoption and institutions. So first up, Square's Cashhab Bitcoin Revenue surges 600% to $875 million in Q2, profit is up massively. This is going to lead us into our next article which talks about PayPal and how they will also be getting cryptocurrency. Also, there's a new billion-dollar company investing in Bitcoin. How amazing is that? It's because institutions are finally coming in because there's so much going on with our space. Which will lead us to our last article and I think one of the big stories of the day is that Bitcoin is set for a bull run that will dust NASDAQ as Ethereum, XRP and other altcoins face an uphill battle which is stated by a Bloomberg forecast which is very highly detailed which will go over the cliff notes but it's all really coming together. And finally this is day three of our $100 Ethereum giveaway so stay for the end and we'll be giving away $100 Ethereum at the very end. But first let's take a look at the market. So it is August 7th, around 1220, Texas time and a little bit of a pullback which is healthy. I am glad to see this because I gotta tell you when things go up too fast too quickly it just doesn't really set well with me. So Bitcoin down 3% now at a paltry 11.4% that's not so bad. Ethereum 371, I thought it was going to top out at 400 but here we are so a little bit of pullback I'm okay. XRP 28 cents, watch out. Tether's Tether, Bitcoin Cash or Cardano down pretty big 6%. Now it's at 13 cents. Bitcoin SV again, Litecoin, Chamberlain. Everything's down, down, down, down. What's this? 10%? Vertezos. What are you going to do? So that's cryptocurrency. Now I gotta tell you if you're in the traditional market and you're just coming in, welcome. This is a normal day. Some people call this a massive drop-off. We call this a Friday. So if you are just coming in, hold on to your seat because it's about to get bumpy. All right before we get into today's big stories, I need to go over something from yesterday and I just wanted to make a quick correction because everybody had told me some information I wasn't aware of. So this is the story we did yesterday and this is Scott Melker. He's known as the Wolf of All Streets on Twitter, a pretty prolific trader. He talks about how he fell victim to a SIM swap attack and basically what he says is he doesn't use text message to factor authentication. What he uses the Google 2FA which is an app that you can download on your phone and what he does is he keeps it on another device and he says, he keeps it offline. So for the Google 2FA, usually it's only available for mobile devices and when I tried to download it on my MacBook, it was not available in the App Store but from what a lot of people have told me, they have downloaded on their tablet. So if you have a tablet, this is probably an easier way to store your Google 2FA and I will link this video from yesterday in the final part of this video today so you can take a look at it but basically what it is is you can use the Google 2FA you can have on your phone or you can have on your tablet. I don't think you can use it on your computer unless you download some specialty types of apps but I'm not into that and that was it. So thanks everybody who let me know about that. That is fantastic information. Let's get into today's stories. So first up, Square's Cash App has a massive revenue which is not surprising. So what's going on? So Square released its performance report Q2 2020 on Tuesday and the companies that revenue including Bitcoin revenue was 1.92 billion. So hey good for them making some money which is an increase of 64% year over year. Now the Cash App Square's popular payment service achieved a gross profit of 281 million up 167% from last year. So it looks like even in the down market what's going on with the economy I would say they are still doing pretty well. So congratulations to Jack Dorsey, Twitter founder and also founder of Square. Looks like he's not doing too bad but here's where it gets interesting for us. It says here excluding Bitcoin. Excluding Bitcoin Cash App's revenue for Q2 2020 was 325 million. That's up 140% but in the second quarter last year the app generated Bitcoin revenue of 125 million. Analyst Kevin Roke pointed out in a tweet that Square's second quarter Bitcoin revenue was almost 3x the volume of Q1 2020. So imagine that you are a company and you just do normal payments right and all of a sudden they you know you have a great idea you know we should just offer Bitcoin because maybe people might want to buy that and Jack Dorsey is a huge believer into it and they go yeah sure whatever you know we'll see how it goes and then you double triple quadruple your profits that's not too shabby of a resolution. So if you take a look like this Square Bitcoin revenue by quarter Bitcoin is accounting for a huge chunk of their revenue. So of course they make money on the payments and all those different things they're doing but the big thing is Bitcoin. So if they didn't have Bitcoin half their revenue is gone or maybe not half somewhere between a third and a half but it's a lot of money. I'm going to take a look at the chart here. I mean it really doesn't matter percentage wise. I mean if you're making almost a billion dollars look we're at 800 million here this is Q2 2020 2020 and we're almost hitting a billion and it just keeps going up like this. I think other types of payment processors would look at this like maybe we should get on this because all we got to do is just offer this cryptocurrency. We may not believe in it that might not be our core value but we need to listen to what the consumer wants and apparently they want a lot of this thing called Bitcoin and that is why I truly believe that PayPal is going to get in the game. Now there's been rumors going around that PayPal is going to get in the cryptocurrency which would be fantastic because they have a ton of users just like the cash. So I mean if you have the cash app you have PayPal let's say some other type of like a Venmo gets into something like this as well. I mean it's just sky's the limit so I just don't see why PayPal be like you know what we don't want an extra billion dollars. Our core principle is just fiat and that's all we're going to do so that's it. No they're a company they have to appease their shareholders so you better believe when I'm talking about cryptocurrency and it actually happening it's going to happen. Do I know when? I have no idea when but as a business I can tell you right now they're going to go for it. So speaking of mass adoption let's take a look at the next article which is talking about a billion dollar company is investing in Bitcoin. This is just one more of these institutional investors coming into the fray so what's going on here. So on a recent earnings call the billion dollar company MicroStrategy said that they were sitting on a 500 million dollar cash reserve that's always nice when that happens but chairman and CEO Michael Saylor today doesn't think it's too smart to hold on to that much cash long term and I gotta tell you that's a different viewpoint than some people do. Some people as far as investors go they think cash is king and I gotta tell you in certain ways I do too because I know that the dollar is weakening and there's different problems there but as push comes to shove regular cash is important to have on hand it just is because you can do a lot of things with it so but if these guys are like you know what we see the writing on the wall we see the quantity of easing we see the weakening dollar we need to put this into something that will appreciate and what usually can appreciate well these different hard assets so here's what the CEO states he says it makes sense to shift our treasury assets into some investments that can't be inflated away let me read that last that can't be inflated away so that brings me to a little quick little quick article from July 29th Pantera Capital and talks about two centuries of debt in one month I'm not gonna go with the whole thing just the first part here and it says the United States printed more money in June than the first two centuries after its founding last month the U.S. budget deficit 864 billion was a larger than the total debt incurred from 1776 through the end of 1979 that's amazing so here's the budget surplus or deficit not too bad 1981 you know it was supposed to be out of control 95 well I want reverse not too shabby and then 2000 2005 10 then the financial crisis and here's to 2020 so congratulations America you're number one again this leads me to my next point the dollar and its weakening status so this was on July 29 2020 and it states the U.S. dollar index has slept slipped nearly seven percent in the last three month period in fact the index that measures the greenback against six of the major currencies is down really nine percent from its march highs and is on track for its worst month since 2011 so I'm not an economist I don't know exactly what's going to go on but I can tell you when I look around I don't see a lot of positives as far as the economy and what's happening with the dollar now do I think that the U.S. dollar will lose its reserve currency status I don't but people bigger and smarter than me definitely do but it remains to be seen and we can only find that out as things unravel but I will say this it's kind of important to hedge your bets and that's why I'm in the cryptocurrency assets because I believe that at some point we're going to need something other than the U.S. dollar all fiat in the history of the world has collapsed at one point or another do I think you know the dollar is going to collapse tomorrow no but I can see it weakening to a pretty poor status and that's why I'd like to hold or do hold gold, silver, bitcoin and different amounts of altcoins because I believe in them and what it's going to happen in the future anyhow let's get back to the article so micro strategy the company itself is looking to put half of its 500 million dollar cash reserve into alternative stores of value microsoft strategy president and cfo fong leg described the plan he says we will seek to invest up to another 250 million over the next 12 months in one or more alternative investments or assets which may include stocks bonds commodities such as gold digital assets such as bitcoin or other asset types I like how he said here digital assets such as bitcoin not just saying bitcoin only so that leaves it open to a wide swath of interpretation and I got to tell you I don't see any other way why they wouldn't do digital assets cryptocurrency because I mean they're just one in a handful of investors or institutions that are coming in I mean look we got fidelity assets they have like seven trillion assets under management you got TD Ameritrade with one trillion assets under management you've got Van Neck which were huge gold bugs and in January of this year they came out and said you know what as good as gold is bitcoin's better and they give you seven different examples for it and of course the big guy Paul Tudor Jones which apparently is an investment legend in the 80s early 90s and he came out and said look I'm going to put in two percent of total investments into bitcoin futures and when you have these types of big places and big players going we're going to do this it opens the door for other investors and institutions to come in and say you know what if Paul Tudor Jones is doing it if he's doing it TD Ameritrade all you guys are doing it there's something to it and we'd like to follow smart money anyhow that's my thoughts on that let me know what you think of the comment section let's move on to our last juicy piece bitcoin set for a bull run that will dust NASDAQ as Ethereum XRP and all coins face an uphill battle this is a Bloomberg forecast and I'm not going to go through the article it's kind of boring so what I'm going to do is just give you the highlights of where they got their source material from which is the Bloomberg crypto outlook which was just released in August and let's take a listen or let's take a look I will link this in the description so you can take a look of it look through it thoroughly it's it's fascinating the amount of time that these guys go through all these things and actually look at what's happening now in the past in the future it's mind blowing and that's how I I've realized that my own shortcomings as far as the financial field because I'm like wow I can't do that so what's going on here and they state bitcoin prudent moving further from speculative digital asset the potential that bitcoin will be the primary crypto asset store of value in an increasingly digitalized world is getting traction and I got to tell you my bitcoin came out it was all about being a currency a currency a peer-to-peer currency decentralized as time has moved on people have realized it's not going to happen so I mean you may think that's going to happen and maybe it will I don't know maybe technology will catch up but right now it is too slow it is too expensive and people can't across the entire world that many people billions of people can't adopt bitcoin and make it function well look at 2017 we've had that many people and the darn thing was hit its limits so as far as a store of value yes I definitely see that and I can see why it is and I always say that bitcoin is digital gold so you know this report kind of validates but my thinking was later on it states here ethereum pop appears more speculative versus bitcoin ethereum is extended last year's highs and leap to one of the top performing major crypto assets in 2020 but we view its rally as more speculative versus the favorable demand versus supply conditions supporting bitcoin and again I got to tell you there are some people in this space that say bitcoin is old and it is worthless don't invest into it just don't just go into altcoins and whatever they talk about and there's other people say you know what all the altcoins are just there to steal your money and it's only bitcoin and I have a hybrid approach I think that everybody should own a little bit of bitcoin because you never know nobody's notes are diamonds here no one can predict the future if you if you can please leave a comment in the comment section and I will get in touch there's a good lot of football games coming up but in reality no one can really predict so I always feel like it's best to hedge my bet and put money into bitcoin and different things like ethereum cardinal chain link tasos eos v chain all the different things that I think are going to do well and so you can take a look at this and go yeah this is definitely going to happen or not just depends on where you think things are going to go I think smart contracts I think decentralized finance I think oracles and I think on-chain tracking are going to be big so that's why I invest in what I invest into moving on it says volatility bitcoin getting upper handers gold and this is pretty interesting because we'd always heard about you know cryptocurrency is so volatile but in here it talks about it's really not that bad it says the lowest annual volatility level versus gold in about three years favors bitcoin price appreciation so I know there's a lot of gold bugs they're very happy right now gold is hovering around 2000 which is fantastic I think it'll hit up to 2300 who knows but I believe that the savings account of the future is gold silver bitcoin next up it says bitcoin and gold correlation on the rise though the 0.35 correlation of early august is in high by normal standards it's the trend that matters and we can kind of see these things coupling in together do I think that'll be totally in sync no I do not and I do believe that bitcoin is going to eat into gold's 10.9 trillion dollar market cap I don't see any other way around it if you're not familiar with this I've talked about this many a time this is the all the money in the world markets and it goes from silver well it says e-square is worth 100 billion so if you're looking at silver that's just silver great cryptocurrency here we are that's at 244 billion military spending budget deficit coin the bank the fed's balance sheet which is way higher I believe now billionaires they have 8 trillion look at these guys 8 trillion dollars between them fantastic good for them gold is at the very high end or the I guess the low end of the shallow pool 11 trillion here's the fortune 500 companies which you got Microsoft, Apple, Amazon, Alphabet and Facebook the 20% that makes up the S&P 500 there they all are they got trillions here's the stock market and they got 89.5 trillion here's the entire money supply 35.2 trillion here's global debt 253 trillion and here's real estate at 208 trillion but that's not even the big one the big one right here is derivatives at 11.6 trillion and maybe what we really talk about this is the gross market value the national value 558 trillion and then if we're going to go down this is the high end estimate because no one really knows it could be 1.0 quadrillion so when we start talking about like how much bitcoin cryptocurrency assets can really break into and eat away at the different markets there's your answer so when we start talking about 1 trillion 2 trillion 10 trillion market cap people like that's insane it's not insane that's reality we talk about quantitative easing and advancing gold but again this one kind of talks about and affirms my what I was thinking about the more quantitative easing and different problems that we have and people get nervous about it the more gold and bitcoin will go up lastly it states mainstream bitcoin adoption something needs to go wrong to end mainstream bitcoin adoption see years ago it wasn't like this years ago it was uh you know bitcoin could just go away because I mean who's going to use it doesn't make any sense and people aren't adopting it but right now we're at that critical point where and it's not even now it's it's already passed there's no way that bitcoin's going to go away and go to zero that's ridiculous so when it talks about something needs to massively go wrong to mainstream adoption they are really laying it out there and being the truth and they state relative scarcity of the benchmark digital asset needs adoption as the primary price outlook metric and the indicators we track remain clearly positive especially with the amount of scarcity that bitcoin has because only has 21 million so what are you going to do then to finish up it does say bitcoin addresses point towards 14 000 they say this is in the short term and it states here one of the most robust on-chain indicators of bitcoin adoption which is address is used suggests a price or close to 14 000 versus about 11 000 on august fourth so if you're looking at the short term we could be seeing some fireworks but who knows and then lastly it states bitcoin 10 000 breach set to dust the nasdaq so fundamentally bullish and breaking above the key 10 000 resistance bitcoin is a solid foundation on the back of a steep correction in period of disdain all-time highs in the index in july and the most extreme stretch above its 50 week mean in over a decade may indicate stock market buoyancy limits from quantitative easing which more directly supports the price of quasi currency stores of value so i will link this in the description of the video it's very it's very in-depth but those are the main points and here's what i think in the very end of the day it's good if bitcoin goes up because everything else goes up when the water when the water rushes into the harbor which is the you know the bitcoin wave all the boats all the boats go up all the altcoins and i'm i'm ready for that so hopefully that happens all right let's give away some money huh so unstoppable domains i partnered up with them they reached out to me and said hey we'd like to give your subscribers some money and i was like sure i'm sure they'd like to do that so in today's economy who doesn't want a hundred bucks so here's how it goes all you got to do is just make a comment of eitha 10k now let's do this tomato coin to 10k today's gonna be tomato coin to 10k just just say tomato coin to 10k and put in your unstoppable domain dot crypto in the comment section so first of all why is this important or why is unstoppable domains important so this is how i see it there's two things i'm not gonna beat a dead horse we talked about this yesterday but uh back in the early nineties when the when the internet was coming around when i was around uh well still around uh people would buy up domains like it was going on a style they'd buy up you know streetwalk dot com they buy up uh john smith dot com they buy up casper dot com or whatever they they buy because they knew at some point businesses were going to need those domains businesses didn't really understand it but some people did and they snatched up a ton of them so then later on and my proud example is casper dot com so anybody casper dot com like eight years ago nine years ago and then they sold it to the uh betting company for like millions so imagine spend like 20 bucks on a domain at like go daddy and then later on they're like hey we need that for like two million sure i'll sell it so the same thing's kind of going on with unstoppable domains their domains are dot crypto so like for me i bought my own domain which is dan likes dot crypto and that's all i use so what's awesome like that is that i can use that as a domain and i can also use that as a payment so what's great what they just announced a couple days ago is that uh coinbase is allowing instead of using these long like we talked about before these these long public addresses for your bitcoin for your ethereum for your x or p for whatever cryptocurrencies you have you can just use dan likes dot crypto and you can use that for payment so if someone says hey pay me you know in uh i don't know tomato coin and send it to dan likes dot crypto then that's all i gotta do so like in coinbase so i'm gonna show you yesterday's winner a matter of fact so yesterday's winner was uh david well this is them this is unstoppable domains actually paying david herbert david herbert dot crypto he just put it in the description said eth at 10k which today is gonna be 10 tomato coin 10k and 100 bucks to him just for doing that and that's how easy it is so imagine like instead of putting in this long super long uh public address for all these different ones you can just put in one which would be david herbert dot crypto and that's it and you're and that's all you gotta do so when you sign up for his doppel domains you know you get your domain fantastic you click on the hamburger or the menu where we want to call it and you go to where is it my domains so i already bought my domain there's dan likes that crypto i'm gonna click on manage and here's all my cryptocurrency address i need to add in a big point a silica like coin all that stuff and i can select the digital one so see like how i have my ethereum address here you need to do to win the hundred dollars you have to have a unstoppable domains domain like a dot crypto dan likes that crypto tomato coin dot crypto joe blow dot crypto whatever potato foot dot crypto so you just put that you find your ethereum address to wherever it is and you can put a bunch of mint in here and also you uh you can put any any cryptocurrency in there you can have a ton of them right that is your essentially your wallet for everything so instead of setting somebody like here pay me in bitcoin here's my bitcoin address here pay me in ethereum here's my ethereum address they can pay you whatever they want they can pay you in silica and it'll go to your silica wallet they can pay you in bitcoin and it'll go to your bitcoin wallet so that's the big thing if you have any questions about that in the description of the video it's gonna say set up your domain and it's it's just unstoppable domains dot com forward slash features and just follow the the steps right there it'll show you how to you know purchase the domain to set up your your wallet if you need more information and it kind of is pretty smooth so right now this works at coin base in huobi you can just put in you know dan likes crypto and send whatever but it also works a lot of different very popular wallets like my ether wallet atomic wallet and a bunch of others so just so you understand that's how it all is so put in there tomato coin to 10k and zaji will from unstoppable domains will actually pick the winner and i'll announce it manana all right that's it for today so thanks for taking with me and it was a bit longer but a lot of good stuff out there so just so you know i always want to say give like random shoutouts to all my subscribers or to all the people who've joined up and there's a join now button underneath doesn't give me anything special nothing special like a tip like a buck 99 you want to do that sure great and these are all the people that do it i appreciate them all so like shout out to the new ones bill austin a suey vasent bun i'm sure i crushed that one mark just zhadra who else we got uh steven hulet shana's life that's a good one uh igor poosts and sam rossman winewomenwages.org bam david and uh my man medic uh medics there so um yeah thanks a lot i really appreciate it now if you like these types of videos you'll be two months gonna pop up on your left and right i don't know because youtube has total control of that i don't control any of that stuff just like any kind of scam ads that you saw before during and after this video i have no control of that youtube handles all that so complain to them and uh that's it so check out those videos and uh see you on the next one