 Welcome to digital asset news to get top stories and cryptocurrency assets and bring them down to bite-sized pieces. Today we have a lot of things to go over and first up money is pouring out of gold into bitcoin and this one actually goes pretty deep. We're going to take a look at physical gold versus ETF and what is going on in the entire market. Also bitcoin miners in the China's Yunnan province is cut off from electricity supply thereby hindering production of bitcoin in that area. So the question gets asked was Brad Garlinghouse right when he told Anthony Pompilano that the CCP controls everything as far as bitcoin mining and finally how great is Voyager? First off they sent this message and said that the Voyager team is going to postpone schedule maintenance because of the actions that are happening in the market and as that happens Coinbase goes down. So again all that but first just as a reminder today is a bitcoin Tuesday giving day. I think this is like some new thing that's popping up but hey I'd like to give things. I'd like to give the charity. If you've been on the channel for a while you know that I give it to pretty much two donations. One of those is Dog is my co-pilot where they take dogs that are in high kill shelter areas and they transport them over to areas in the United States which don't have high kill and have a large demand for dogs. Plus the Ugandan water project which provides safe and accessible drinking water to kids and the community in Sub-Saharan Africa. So let's do that right now right? Let's click donate. We'll do 50 bucks. 50 bucks is good. I'll cover the processing fee. Sure submit. Ask for my donation details which I will hide and bang one of two is done. Let's jump over to the Ugandan water project. So this one is hosted at thegivingblock.com. I'll link this in the description and it's pretty simple. All you got to do is you can scroll down you can do a search but it's always in the front page right here. Donate crypto and let's do 0.01 which is like 200 bucks so great. Click continue and I can fill this out or I'm just going to donate anonymously. It's faster. Continue. I'm going to jump my phone to the Voyager app. I'm going to click on a little little guy in the top left hand corner which is me. I'm going to click on transfer cash or crypto and I'm going to go to withdraw from Voyager account. I'm going to click bitcoin and then easy PZLA do is just click on the QR code right there and I'm going to scan that guy right there 0.01 192 and I'm going to slide it with draw bitcoin get my two factor authentication code sure confirm. I'm going to say just to check my email which I'll do that right now and I'll just scroll down right there confirm withdrawal. Bam done easy PZLA. It's as simple as that. All right let's jump into today's market. All right so let's see what we got. So today is the 1st of December. It looks like it is around 10 a.m. Texas time and what do we got. Well bitcoin is doing pretty good. I mean still I mean we haven't hit that 20,000 but I think we're going to hit it next week and I have no data to support that whatsoever. It's just a hunch so we'll see what happens. Ethereum up above 600 pretty epic. That XRP is down 2% but still magnificent run. I can't take it away from XRP. Great run. Tether is around 19 billion for the market caps. Let's see an audit. Litecoin 90 bucks. Man, Litecoin holders is in the fifth place. Whoever is holding Litecoin congratulations. I sold that a long time ago but after that PayPal announcement where it's Bitcoin, Bitcoin Cash, Ethereum and Litecoin I mean great congratulations to all those holders and Bitcoin Cash. Cardano is down 5% whatever but Cardano I'm still working on the staking pool. I'll let everybody know it's a progress. It is not easy. I will just say that is a real pain in the tail but I am persistent and stubborn AF so I will get it done. What else? 5% now for Stellar forward. So not really anything's too fantastic but we are hitting a nice little market cap of 580 billion so let's see if we can top out at 600. Now what I want to see is how everything compared to Bitcoin. I'm going to switch this over to Bitcoin and let's see how the Alts did as compared to if you just would have invested in Bitcoin. So Bitcoin 0-0 right. Ethereum be up 1% that's pretty good. Hey 1% just the same as if you were going to tether. Litecoin though is the big winner. 6%. Again I think Litecoin is doing fantastic. I think it's doing fantastic because if you're on the on your PayPal account and you take a look at like well I can't afford Bitcoin because that's I mean that's way too much for me and people don't even realize you can buy a fraction of it then Bitcoin cash is too much too. Ethereum is way out of your ballpark and then of course you look at Litecoin like well maybe that's the next one and then you're like I'll just buy that. So what else we got? USD coin Monero always doing well. NEM congratulations NEM. Again right now really the safe bet is Bitcoin. That doesn't mean that all coin holders like myself and you aren't going to do fantastic later just what it is right now. So anyhow that's what we got. Let's jump into today's top stories. So this one this one's good and it goes deep. Money pours out of gold in favor of Bitcoin and really what's going to talk about is Wall Street players institutional investors and why they're dumping gold for Bitcoin. However we're going to get into the weeds of it and it's going to get kind of sticky so just be prepared and buckle up. So what's going on? Bitcoin and gold are being seen less as bedfellows and more as potential adversaries. I guess you can say that but I see in both both the stores of value. I don't think that people really are into Bitcoin because it's going to go up you know or sorry gold is going to go up astronomically that's not what gold is for. Gold is just a hedge against the craziness that is the market. Bitcoin is the asymmetrical return so I think if you want huge gains I mean gold's not going up 10x, 50x, 100x that's just ridiculous. But according to analysis on the precious metals market by JP Morgan Chase 93 tons of precious metals have been dumped by bullion backed funds worth some five billion since November 6th and this is going to go right in line with a Stansbury research video where the interviewer talks about how she has talked to some of her contacts in the gold industry and she actually does confirm that. We'll take a look at that in a second but it goes on to state that Greyscale's Bitcoin trust the on-rem for institutional investors to gain exposure to Bitcoin has doubled since August. Greyscale's been hovering around Bitcoin and getting all he can get his hands on. Just this week it added 7,300 Bitcoin worth 140 million that's nothing to sneeze at and it's interesting because Greyscale actually owns 500,000 plus Bitcoin. I mean even more now this was November 16th so they're almost I mean if things keep going they're going to own a million worth of Bitcoin. Now again they don't own it they buy it for the people that want to invest into it these institutional players. But remember the reason why Greyscale is doing so well is because these institutions or all institutions they can't hold Bitcoin they can't just you know hold it like you and me there's regulations against that so they have to pay a premium and that premium is pretty hefty. Right now if you look at ycharts.com this is the Greyscale Bitcoin trust and you're looking at around 16-17% and it's been pretty high it's been as high as 41% in February so that's just one of those things that they got to pay for because they're like well we know what's going to go up I mean we're not idiots but we can't hold it right now so we're going to pay Greyscale so there's a reason why Greyscale is buying it all up and Greyscale's doing that with Ethereum they're doing that with XRP they're doing that with Litecoin a lot of different other cryptocurrencies so don't be surprised they're making a lot of money. So then moving down let's say it's gold was really the safe asset of the past world and baby boomer generation John Mark State's a former commodities hedge fund manager now it's being replaced by automated assets like Bitcoin. So this is what people are always talking about they're like this bull run is different because there are so many institutional players getting into the game so it's just totally different and it is but it isn't so you have to remember that yes institutions are going to drive mass adoption because there's going to be a lot of money into it and they're going to advertise for it and they're going to talk to all their clients about it however there are still some sound fundamentals you can never forget one of those is don't FOMO don't let emotions run you and then also just be careful because you don't want to just dump all at once and this is one of those things where I'm very worried that people are like you know what it's different so I'm just going to go all in and that's not it I mean even plan B the guy for the stock to flow ratio model he talks about he goes yeah Bitcoin's going to go to the moon but we're going to see some massive massive drawbacks up to 35% and that's a lot of different analysts have said the same thing so if you think it's just going to go straight up it's not and if you're like really going forward it's just relax and just you know be a little bit more level headed and actually this is one of the things I talk about when I was on Alex Maske only show yesterday and it was me and the usual suspects and everybody was in a good mood except for me I'm like the eternal wet blanket and I'm here and I'm just talking to everybody's like it's going to be great and I'm like wait it's not it's going to suck it's going to be there's going to be problems and everybody's like god damn it Rob you just just be happy for once and I am happy I'm a happy person really I am it's just it's just that on this show I was just like just be careful because dollar cost average being a investor and I know people hate that I say that thing time and time again but again the more things change the more they say the same all right so moving down there's some more important information which is people like BlackRock Chief Investment Officer Rick Ryder told CNBC that the currency is here to stay and that it has so much more functional than passing a bar of gold around and if you don't know BlackRock is a small company with seven and a half trillion assets under management so whatever they say pretty much carries weight and that's really where smart money is talking about then it goes on to state that I've changed my mind wrote Sanford C Bernstein strategist and ego Fraser Jenkins in a report Monday Bitcoin won't replace gold but there's room for both he said especially if the future of inflation and extreme debt levels and if you don't know Bernstein research was brought up by the alliance group and now it's called alliance Bernstein and they have a small 631 billion assets that are management so again more smart money talking and lastly it states it would be churlish it's a good word the thing the five billion less gold sitting in investment funds has been transferred straight to bitcoin that were the case bitcoin's price would be up in the 30 thousands this is actually going to what Grant Williams he is the co-founder of Real Vision and he's talking to Daniella here about different aspects as far as gold he talks about the definition of gold bugs also gold ETFs versus physical gold and it's the same thing actually that my friend when mullet talked about because I had sent a tweet out and he said no no no we're talking about Ralph Powell and he said Powell sold ETFs he didn't sell physical gold and I was like yeah okay but Grant really breaks it down pretty well and I want to just want to delve into this quickly for me I think you have to you have to take a step back and and first of all define what a gold bug is okay because there's there's two very different ways to look at this if you were really looking for the price of gold to go up when you're interested in price speculation in gold then you're going to be incredibly frustrated because you know all the charts it was going higher the charts now will tell you it's going to go lower and it's certainly you know it's failed at that 2100 level it's gone back through 2000 and now if you look at the charts in the breakdown it could go back to 1700 dollars so if you if you are a gold bug and I used the pejorative version of that term because what what a gold bug is in the pejorative is someone who's just fixated on gold and thinks the gold price is going to go to 10 000 etc etc if that's you you've had a rough few weeks there's no two ways about it if you have gold in your portfolio as protection against financial malfeasance by central banks inflation all the things that gold does for you the price doesn't really matter right you're still on your gold from the year 2000 you're up almost 600 on it and and if it's a long-term holding if it's a portfolio allocation this stuff is just noise it doesn't it doesn't make that much difference so for me yes I look at the chart I look at what's happened with interest but am I sweating the fact that it it failed in 2000 it's back down honestly I'm not it doesn't cause me any lack of concern so that's exactly what I'm talking about that's why I hold gold and silver not because I think it's going to go up massively because it's not it can't it doesn't work like that cryptocurrencies digital assets like bitcoin can and that's why I hold them and somebody asked me they said well will you ever get rid of all your gold I'm like no it's not the point the point is to have a hedge against you know catastrophe and that's why I hold it and bitcoin and and all my other different holdings I hold because they're going to go up like 1050 100x that's the whole point and I think people got this message skewed because of some some various gold bugs out there saying it's going to go to the moon which is just ridiculous so I think the best thing here is just to you know understand like what they're actually good for and that's just how I see it again I could be wrong but I'm showing you think in the comments section but now we're going to get into uh liquidating gold for bitcoin and why Grant here says no it's not the case I called a few of my sources at various bullion desks and the feedback I was hearing is that a lot of clients were calling in saying hey they want to liquidate their gold to buy bitcoin and and we're seeing quite a lot of that if you if you have a gold position now I'd be interested if that was people with physical gold who are liquidating physical gold to own bitcoin I find that quite remarkable to be honest with you because there's a there's an additional level of interest there's an additional level of commitment in owning physical gold which means you're not generally a price speculator if you want to speculate the price you're going to buy the ETF right um so if you if you own physical gold you've taken the extra step you take make the extra commitment to sell that to buy bitcoin I find very strange indeed because you're you're selling out of an asset you own to speculate on the price of bitcoin if you're selling the ETF to buy bitcoin I totally understand that it's far more and that makes total sense and that's why I like putting my cryptocurrency into an analyzer first it keeps it safe keeps it off the exchanges also it allows me to have that second step that I have to do just to get it off to actually sell it I'm like I'm not gonna do it and that's just one of those things good or bad that's what I like about it I will say this though I mean there is one thing about transferring gold physical gold and ETFs but people are still transferring money and that is the big thing so they're getting out of the whole universe that is gold and putting it into our universe which is cryptocurrency and that's the things I like to see let me think in the comment section let's move on next up this is from bncrypto.com go check them out I also got a youtube channel and says uh breaking bitcoin miners in China's Yunnan province cut off from electricity supply this was two hours ago actually this was yesterday uh late at night 7 30 p.m and it states uh Chinese bitcoin miners in the dark according to multiple reports from Chinese crypto news and uh I don't speak Mandarin or Cantonese so uh I couldn't read the article but this was on Monday the Yunnan province issued an order for power stations to see supplying power to bitcoin miners in the region Yunnan is China's fourth largest bitcoin mining hub after zheng jing shichuan and inner Mongolia news marks the latest blah blah blah so this actually goes back to what uh there was an argument or a discussion between Brad Garlinghouse from the CEO Ripple and uh Anthony Pompliano and the whole thing came down to they believe that uh China could totally uh disrupt the bitcoin operation and the network because 60 plus percent of the mining pools are in China it went back and forth but basically it goes like this so yes China can definitely control any miners any individual miners or mining pools that reside in China no they cannot control the mining pools or the miners individual miners that live outside of China yes those mining pools that comprise of a ton of individual miners which are globally uh they can you know shut down the pools themselves but the individual miners that are outside globally they can't shut them down now the ones that live in there obviously this is a prime example the question that I have is how many individual miners that live in China and are hooked into these four pools and if they can easily unplug because apparently it is is what miners tell me that they can easily unplug from any mining pool in operation and plug into another one first of all how fast can they do it and second of all will they notice if there is a double spend or a 51 attack or whatever else and if it does happen can they just reject those blocks so obviously I don't have all the answers and uh if I do try to talk about them it's kind of like a virgin talking about sex so what I did was I went out to voss coin and voss coin if you don't know he has a youtube channel and he's huge into mining he has a ton of different videos this guy I would consider an expert so I reached out to him and I said hey man I got a bunch of questions about this and I want to get an expert in there and he says hey man happy to help I can't do today but I'll definitely soon what's your schedule like and da-da-da so we're gonna set something up I'm gonna get a voss coin over here and he's gonna answer all your questions about mining because again I don't have all the answers so uh if you'd like to just submit your questions in this video and I'll get voss gone here and we'll talk all about it but I will before I take off I want to make mention of this these are these are the bitcoin info charts and this is the hash rate so you have to understand the hash rate is the computational power that is going on in the bitcoin network at any given moment so all the different uh uh rigs that are that are connecting this is how much hash rate it actually produces the computational power and right now is a boatload just a ton right and I'm looking at the last uh six months or so and what you can see right here is we go to this we are looking at November 24th you can see it right over here uh this is now is in June but so you take a look at November 24th 26th 7th 8th 9th 30th so there was a drop but it wasn't a huge drop like we saw back in October 27th also there's other drops over here the thing is is that we don't see what it is right now so it'll be interesting to see what exactly happens and but one thing I would like to note is that this is uh the sixth month this is uh bit info charts also if we take a look at blockchain.com the charts the hash rate we look at this is seven days so then there's a huge drop off over here I don't know what happened there in November 2nd about a month ago or so so if you look over here not too bad but let's just take a spade of spade look at 60 days huge drop off November we're still up here so and it doesn't even tell us yesterday so I'd like to see exactly how much it drops off and that will be the big determining factor cutting them off how much did they cut off what actually happened to the hash rate and of course when the hash rate drops the difficulty also drops so this might actually be good for other uh miners because like hey that's not so many rigs on here fantastic anyhow let me make a comment section and don't forget to ask those questions so I can get to BOSC and then let's move on last up I just want to say Voyager is fantastic I like Voyager I have no problems with Voyager and uh this is one of the reasons why I love them so this is actually uh sent to me by the worst trader from Twitter and uh this was an announcement from Voyager they said hey the Voyager team decided to postpone the schedule maintenance due to the market's current performance and not wanting you to miss an opportunity we'll alert you when maintenance has been rescheduled we appreciate your patience as we set our sights on bitcoins record breaking day thanks and that is how you handle customer service you go look we've got the things we need to do but you guys are way more important is the exact same thing that Steve has said both times he's been on the show Steve is the CEO of Voyager he said look he goes if I take care of the customers it all flows from that and that's exactly what's happened and from this one I just sent out a tweet I said hey pay attention Coinbase this is how you handle things great job and invest Voyager you guys get it so if you can see that on on the Twitter I'll give it a like because that's exactly how it is Coinbase is like nope we have no care about you guys customer service good luck I know some people said hey it's Coinbase is the only uh you know game in town so don't bash it hey I'm sorry you got a you know a bad exchange but uh hopefully when legislation comes down you can find out just how awesome other things are uh sorry you're stuck in New York anyhow so that's it for today I know as long as a lot of information coming on I think uh we're headed for really good times just remember the fundamentals don't let your emotions control you don't fomo in and just be careful and that's the big thing also before we take off just want to say thanks everybody who signed up over digital asset news I really appreciate it so I'll just give you some random shout outs Eric Mitko Carl Alden Professor X broccoli farts always funny Lucas Bradley Tavi Mackinau uh Sam Vasquez Sergeant Crypto he's also got a YouTube channel check it out and Jess Zadra so again thanks so much everybody for signing up I appreciate it also if you like these types of videos doesn't mean too much going to pop up on your left and right I'll let YouTube do its magic and that's it for today so again thanks for sticking with me really appreciate it don't forget to uh donate if you can and I'll see you on the next one bye