 Great. Welcome to Digital Asset News, the guitar stories and crypto and break them down into bite-sized pieces So just as the thumbnail suggests we have to take a look at what is going on as far as the crypto and digital asset space As far as sanctions, which is a it's a strange story to get around but as I entitle it There is one thing that to centralize exchange is going to agree on and that is that you can't bypass sanctions using crypto currency Also, I want to do a quick perspective as I call it to 2017 is the new 2011 and then I want to talk to you real quickly about Andre Cronhey and I applaud his decision for stepping down But unfortunately your portfolio is probably tanking because of it and lastly we'll just do a quick Q&A Which will do five questions in five minutes. So hold all your questions. Hold the very end, please and First of all, let's take a look at the market cap Also, if you're here watching the live stream, welcome. Thanks for stopping by on an early Monday morning depending on where you're at Just you know, you're watching the recording. There'll be timestamps below so you can skip ahead and do whatever you want to do You have very easy news takes about 15 or 20 minutes Q&A takes about five So we wrap everything up around 25 minutes or so and then also as a new piece here Don't forget to continue the learning education over at Dan teaches crypto.com. It's a hundred percent free So I made that for you So you don't have to pay anything and it's super simple and I'm right Just pretty much make it as basic as I possibly can so let's take a look at what is going on in the market I think we all know where we're at because I'm not gonna stop You know delving on the market part because everybody knows this I just want to go over real quick. Just just for posterity just to see where we're at Markups down again 1.8 trillion bitcoins down again. Everything's down. I mean, there's a little bit of fluctuations XRP 1.2% great congratulations 1.2% XRP holders watch out and Everything's down across the board even on the seven-day now. There's some people that are up like okay be sure I guess so uniswap is down 13% and then of course phantom is down 10% and the last seven days and that's because we'll talk about why Andre stepping down And that's what we have essentially for what's going on I think the big picture though is to take a look at just some on-chain analysis so this is crypto quant one of my favorites and It's amazing to me First of all that if we take a look here me pull this off so you can see it This is the Bitcoin exchange reserves and you can just see that Bitcoin has been I mean this goes back all the way to 2017 2016 2017 when remember we didn't we hadn't even mined that much I mean we've mined a good amount of Bitcoin, but you know five years later here. We are 2022 We're still in a downward decline of how much we have 2.417 Yeah 2.3 and and falling not fast but falling enough, but yet As the Bitcoin gets taken off of the exchanges and puts in the cold storage price still goes down Amazing to me, but I think everything's coming to head also with therium actually is going down But it's a little bit of uptick people got to pay for gas fees, right? And then take it by volume Kens tends to go up as people as everything slides down But this is the big story or one of the one of the things for me. I'm always harping on The estimated leverage ratio it seems like people they cannot give enough get enough of leverage plays and everything Anything above 0.2 is extremely high and we've been in this high range for quite some time I think there's a lot of and I'm not against it, you know Sir ma'am, whoever you are who are doing leverage trading. I don't care if you do that I mean, it's up to you, but I will tell you leverage trading is not my thing. However in the past And you can look at it over on by bit The difference documentation that they have there, but for people who get liquidated. It's not the long It's it's it's not the shorts. Excuse me. It's the longs So if you're want to make a ton of money and this is a financial opinion out of financial advice A lot of the times the shorts do pretty well because there's just an over exuberance in the market That's just the truth and then Also remember this as far as net unrealized profit and loss Right here You can see that people are still in profits So if you think like we may not go down and we've hit the bottom maybe maybe not So the big thing here is just be careful because anything can happen in crypto. So Let's get into the top story, which is Sanctions Russia sanctions and how this all is playing out. This is a good story From bitcoin.com Binance and coinbase explain why crypto won't help Russia evade sanctions and I got to tell you When I take a look at all these things I can tell you that it makes sense to me that there is no way that Russia I mean, there's probably a small amount that people can do but as far as like avoiding sanctions It's just not gonna happen because the thing is too small small potatoes. So this is the article by net CEO see CZ chink things out states this the truth is You mean they could do it but crypto is just too small for Russia If we look at the crypto adoption today, there's probably about 3 percent 3 percent Of the global population with some kind of crypto exposure. I want to just one want to say that one more time 3 percent of the global population with some kind of crypto exposure. I even own some crypto. So just imagine that When people say that we're we're early and other people like we're not that early We've been here for quite some time and and you know, it's pretty saturated. No No, it's not. I mean, we are like super I mean early for what's going on people have already made Billions of dollars in crypto and there's gonna be more millionaires made I can't tell you exactly when or what those projects are because I can't give you financial advice But I can tell you that we are super early This is just one of those things and I'll and I'm gonna break it down just how early we are in a bit He continues of those most only have a small percentage of their net worth in crypto less than 10 percent on average I have more than that, but that's just me So there's probably only less there's probably only less than 0.3 of the global net worth in crypto today This percentage applies equally to russia and he says this another reason russia would not want to use crypto Is that it's too traceable and governments around the world are already very adept at tracking it And we saw this to be true the fbi just opened up their own new division For tracking cryptocurrency and wallets, which is on an open ledger. So if you are any kind of Crime organization, why would you put all your transactions out for everybody to see even you can Go through a mixer. You can track things in a pretty easy way, but There's also a catch so different to finish up Zhao said Using private focused cryptocurrency such as monero Would not work either because the market cap of of monero is three billion dollars Compared with russia's gvp of 1.5 trillion So very tough to move that much money around In just monero Especially because our market cap is like we just saw 1.8 And then brian arm shrunk chimes in and says hey We don't think there's a high risk of russian oligarchs using crypto to avoid sanctions because it's an open ledger Trying to sneak lots of money through crypto will be more traceable than using Dollars cash art gold are their assets. So if you hear things today As time goes on the what's what's the activity just remember that that's not true That's a lot easier just to track things in open ledger and then you possibly could and to bring this point home I haven't talked about this in a long time It's a nice little chart which compares the world's money and markets I know some of you who have been with the channel for quite some time. You know what i'm about to do But if you're new here, you're in for a treat So this little square here is worth a hundred billion and just so you know, this is in 2020 This was you know a little bit ago and it says, uh, there's silver right there at 43 billion dollars Here's cryptocurrency in 2020. It was worth 244 billion dollars. That's it Here's military spending. Oh and I can tell you right now. That's gonna go way up Uh with this conflict with ukraine just get ready for that US budget deficit. Oh, that's way beyond now I can tell you that too coins and bank notes feds balance sheet billionaires. Look at this these guys Bezos gates zuckerberg's not as much as he used to be ellison Are now sure here's gold 11 trillion dollars. Here's the fortune 500 companies. That's that's cute That's that's adorable. Here's a stock market roughly around a hundred trillion dollars Do you think you can avoid sanctions through crypto at 1.8 trillion? Here's the money supply This has gone up even more so 35 trillion. That's narrow, but roughly almost 100 trillion. Here's global debt 253 trillion. Here's global real estate 280 trillion and then go into the big one global wealth 360 trillion and it's all broken up into different countries and whatnot and then derivatives which You can say like options that Contracts warrants swaps all the good stuff, but just to go into this This is a quadrillion a quadrillion and this is what we can actually see so National value the lower end 550 a trillion and if we go in here Here's what we can't or we check kind of guesstimation So if we take a look at that and take a look at all the things that we could potentially do with this little piece right here It's not too much. It's not too much because there's cryptocurrency Actually If you could five x that that'd be what we are now are actually Three four five seven x so what do you think about that in the comment section? So again? I don't think sanctions are such a big deal and that's all we have all right, and then moving on to our next piece there was this um This was a little quick perspective to bring everybody back So right now the market's in it's pretty crappy area. Let's be honest for what we have And I had simon dixon on last week or so and uh, we broke up in three pieces Then I put it all together so you can watch it but simon here He was telling me stories from like 2010 2011 About how things were back then he would and he talked about This isn't gosh this 2010 when when bitcoin was like, you know a dollar And then it went all the way up to 30 bucks and people lost their minds And uh, I was it to me. It was just unfathomable. I mean I I couldn't I I couldn't wrap my head around it because I've been in since 2017 which would look something more so Like this And I'm like, yeah, man. I got in like when it was like six or seven thousand boy. I wish I could have got in around here at 30 bucks. He's like, yeah, well, you know, and of course Simon's like, yeah, well, it is what it is because you know, I've already been there and uh Now If we come over here We can take a look at obviously what the prices are But what I want to point out to you is that I didn't really think too much of it until yesterday So is that a gathering? with some friends and uh, one of the ladies came up to me and said, hey I know you're in the crypto. So just let me know like what's the best thing to invest into and I was like, well Like I can't give you investment advice But uh, this is what I buy and I told her exactly what it was and she goes. Wow. She goes. Yeah, bitcoin She's like, it's like for 44 000 yesterday. Boy, I wish I could have gotten into it at at 39 000 I was like, yeah, look at that And she goes, when did you get in? I sold her 2017. She's like, wow, what was the price back then? I was like, well, I got like six seven thousand, you know And then then it went up to 20 and then it went back down to five and I'm buying since ever since then She's like, that's amazing. I can't even wrap my head around it. So When we talk about how early we are and these things I know right now it sucks because Remember in 2017 when everything went up and then went way down Uh, I think this is the new 2011 so for people who are as statistically people who are watching my show Have been around since around 2020 2021. So this is you guys So at some point, I know it's awful right now because you're like, when am I going to get my lambo? And my mansions and things like that. I can't tell you when but I can tell you it seems like things just seem to repeat over and over And over Again and the only difference Is just how much time That people have to understand just to wait and be patient So like I know right now it seems like this will never work itself out. But Trust me. Uh, I've been there. I've been in your shoes just a little bit of time And that's what we got. So let me just think about that little pick me up Hopefully that's something for people like, oh, okay, I get it or maybe not And let's move on to our last piece Andre Cronin. So if you're wondering why Uh phantom and a bunch of different projects are cratering It's because of one guy and not a rug pull. Just one guy's like, I'm gonna leave He didn't take anything with him that I know of maybe you can correct me in the comment section But here's what we got. So Defi start developer Andre Cronin calls it quits. Here's what's happening according to a tweet on saturday by Cronin's colleague and former senior solutions architect for the phantom foundation and tonnell He states this on behalf of crony the pair have decided to stop contributing to the defi crypto space and related projects. Well, that didn't sound good There's no reason for their apparent departure from the defi sector It's unclear if the pair intended to continue contributing to products outside defi And crony deleted his twitter account last week and updated his linkedin to reflect He was no longer working at phantom. I think for any other project that he has of the 25 projects Nell speaking for crony said the most notable ones are related to urn Keeper network multi chain dot xyz smart contract protocol exchange solidly chain list and bribe curve finance Products will apparently be carried on by others But not crony and it looks like not now And this is the reason why he talks about it's just toxic in 2020 crony told decrypt He was on the edge of quitting crypto setting a toxic Defi community as his primary reason. Well, I could have told you that just go to twitter There's some pretty Spicy comments over there. If not in my own comment section. You're on this youtube video Immediately following the announcements on twitter dozens of native tokens linked to projects and apps associated with their founder by nell and crony begin to fall phantom's token Took a Took a big hit at almost 18 percent But it's I mean it's only down 10 percent right now And that's essentially what's going on then repeats of this the same thing. So here's the thing I want to applaud andre crony for getting out When he could I know some people like Well, you know, why say that? Here's the thing If it's not working for you and you don't feel like, you know, your mental health is worth it then get out What's worth it is it worth it to be the richest person in the graveyard Or is it worth it to have your own mental happiness mental strength now I'm not saying that it'd be it's great if you're going to do a rug pull And you know, it's great for your mental health because you're super happy and you stole everybody's money That's not i'm saying I don't think that's what happened here I think and correct me if i'm wrong Andre was just sick of all the nonsense and he's like, you know what? This is just too much and I try to do the the best thing I think he's one of those guys just wanted to be in the background of code And he got pushed to the forefront because people left So here's the next bigger question and we talk about decentralization all the time If one rock star developer leaves or two, I guess in the situation Can the project continue and do you really need those people? And really it comes down to the root question Are these things decentralized or not? So I guess we're going to see in time to come but I will say this if you take a look at just the price action itself I'm not saying if you know looking at github and the activity or whatnot But you just take a look at the price action phantom's actually it would it dropped 18% Now cut that in half time percent actually in the last 24 hours. You can see there number 36 It's up 1.4 percent. So I applaud andre if that's what he wants to do good for him And unfortunately you might have to take a hit But uh, again, the principles are the same time in the market Is more important than timing the market and that's all we got. So look That concludes our little round out for the news if I like today's video, give it a thumbs up I also consider subscribing while things talk about our time sensitive I'll also go ahead and give it a thumbs down if you didn't like it Just tell me why in the comment section and then just really tell me what you hated about it Maybe I can fix it and that's all we got. So now let's move on to a little bit of q&a But if you got to take off that's cool get out of here It's a monday do your thing and we'll answer some questions and we'll go from there. All right So Where are we? Oh diesel cane the guy with the best name of all time That is actually his real name. He told me. I was like, you gotta be kidding me What a great name. Can anyone put sanctions on bitcoin rob? Most likely not unless you are a central exchange Uh Can anyone put sanctions on bitcoin? Well, what they could do is they can totally like a government can shut down a centralized exchange You've seen that done before I mean india's done that right? So you could do that the thing is you can't shut down wallets There's a caveat metamask wallet the way that you uh interact with it, but just remember The way that you interact with wallets um Your cryptocurrency isn't on a wallet It's not like a typical wallet. Everything's in the blockchain It's just the wallets allow you to access and spend those crypto and if you don't understand that principle Just go to danteachescrypto.com. It's 100 free. I go over the whole thing on how this all works Now you can work it So, uh, I don't think that they can put sanctions on on bitcoin. It'd be like putting sanctions on the internet pretty tough All right So that's question one question number two going through a breakup, right? I'm talking about andre you're talking about for for your relationship with somebody else if you're going through a breakup When going through hell just keep going. That's a pretty famous quote That's the best thing I can offer you and I am not a financial or I'm not a relationship advisor Just relationship All right Question number three thoughts on digit bite I know I don't use it. I don't understand why people buy it I get the guys real you know great in the space But I don't get it and I don't know anything of it and I don't and me personally when people ask me about it I'm like, don't buy it That's all I got for you. All right I know I have to tell you the truth and that's the truth Ah question number four Oh, where'd it go? Is it is it possible to block blockchain activity like russian china block facebook and what's that but you have to understand that's through A centralized server so you can everything that's centralized you can block very easily right and you can shut down google You can shut down facebook all those things But if you're running multiple nodes hundreds or thousands of nodes, you have to shut down all the nodes to block Uh bitcoin and also did you know that there is a node in space right now? And I believe it's an international space station correct me if i'm wrong But there is a node in space for for bitcoin. So even if there was like an emp attack You still got the history of all bitcoin in this node. So Dan do you use anchor to get the juicy 19.5 percent of usd? No, but I will be doing that I should have done that this weekend, but I had friends in town and got uh Got launching some other things so it didn't work out But yeah, i'm gonna put some things over anchor and then your next question probably is is that sustainable And the answer is no it's not 20 percent is not sustainable and even People were to anchor talk about it's not so get in while the getting's good Because who knows how long that's gonna last and that's uh it and here's the bonus question Do you think the four-year cycle still apply? No, I thought it was and I based my predictions on those which is why i'm gonna stop doing predictions because those weren't so great Uh, so yeah, I don't think I think there is one part to it Did you know that the happening or having how we want to say it is coming up like two more years Can you believe that that time flies? So I think that the narrative will still remain But uh, I don't think we're gonna have these these enormous huge Uh pair of bollocks just based on four years anymore. I think there's a little bit maybe something behind it I think the only thing that will get us to Really these these huge pushes Unfortunately, it's pain and that's pain in uh economics That's pain in the world and global domination by different governments and pushing people into a real Uh currency that they actually own instead of banks owning and printing a bunch of money I think that's what will push us and not just uh, you know price go up. Anyhow, that's what we got Uh That concludes it if for today. So look i'm gonna wrap it up I've got some things to do, but again, if you want to continue on with the education Go to danteacherscrypto.com hundred percent free very easy. I go over there There are some affiliate links, but you don't need to click on them You can go right to the companies. I give you there all their information. So that's it. That's all it is So thanks so much for stopping by if you like today's video give it a thumbs up Or give a thumbs down Just tell me why in the comment section and consider subscribing because I mean look if you're over 22 minutes might as well Anyhow, I will see you guys tomorrow. Thanks so much for stopping by appreciate it. See you on the next one. Bye