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Tuesday, October 4, 2022

HERE’S WHY CARDANO IS BLOWING UP

Volga’s asset news: they get top stories in crypto and bring it on a bite size piece. So today we’re just going to do a quick, little live impromptu session, just to talk about what’s going on with cardanol and how the price is doing so well. So first we’ll take a look at what’s going on with the market, then we’ll take a look at of course. Why cordon is on the rise? I think most people know what’s going on, but there’s some things that you have to be aware of and there’s there’s actually some concerns which were put out by iohk, as well as the cardinal decks themselves and we’ll go over all those things.

Just a bit. Also, take a look at the actual uh different pools that you can stake to for said, rewards uh hint mine is not one of them, so you’re gon na have to leave my pool for a bit uh, also uh or lastly, we’ll take a look at those. Those decks concerns and, finally, we’ll take a look at uh, some boomers that are on board for bitcoin, because i know people don’t really care so much about the boomers in general in some way shape or form, but they should, and i’m gon na tell you exactly Why i’m gon na show you why uh a big boomer is on board for crypto, who used to be a real bitcoin hater, so we’ll go over all those things. But first let’s ask the question: can everybody hear me and how is the audio, because it’s kind of important that i actually test these things before i just start talking uh for like the next 10 or 15 minutes or so, and that will be not good. So first real quick.

Can everybody hear me and how is the video quality beautiful day here in uh, puerto rico and uh? I think we’re gon na have a pretty, hopefully a pretty good week. I just am concerned about some information that was put out uh by the actual dax itself. Okay, great all good. Let’S get going, let’s jump into this, so uh.

First of all, let’s take a look at what is going on into said market. So today it is gosh what is it 17th, wow, 17th january and uh. We got a little bit of a slippage as far as the market cap goes we’re around uh 2.1 hovering on 2.2.

If we take a look at what the uh as far as price action goes everything’s down everything’s down, except for this little gem called cardano and we’re up 8.6 in the last 24 hours and 31 in seven days. Can this continue, i’m not for so sure, uh solana, down five percent uh, seven days 1.5 xrp down about two percent everything’s down down down in the last 24 hours. Seven days is pretty good eighteen percent for cosmos in seven days.

Forty one percent for near but down five percent and sixteen percent wow like coin, is up. That’S crazy! You don’t see that too often, two percent uh up for tron wacky day in crypto land, 4
6 percent from monero that’s great 1.7 and so on and so forth and 9.2 for ave, very nice ave holder.

So that is the market in a nutshell, let’s get to today’s top story. We’Re going to talk about why cardano’s on the rise before i get into that there was this really great graphic shared which talks about. Let’S see if i can blow this up in the correct way, which talks about transactions, transaction fees and all the different uh transactions. As far as on-chain activity going on right now, if we can take a look, you got bitcoin ethereum, cardone, bitcoin cash, litecoin and so on and so forth. And if you see right here in the very middle here, it says transaction volume, uh 24 in the last 24 hours, bitcoin has got about 15 billion dollars worth of transaction.

It’S pretty good and then ethereum’s got around five five point: five and chrono’s. At five point: three so uh, that’s a pretty high transaction uh volume and then there’s a there’s, an adjustment right over here, active addresses and so on and so forth. But here’s the big thing that i want you to to pay attention to the fees. The fees in the last 24 hours it took so roughly the two transaction volumes for ethereum and cardone are roughly the same. I think we can all agree on that 5.

9 and 5.3 adjust the transaction value. 4
264.2 and the fees 43 million dollars for those fees in ethereum wow, that’s a lot of gas, but 75 000 bucks for cardone. That is, i think, a big telling tale of where things are going now: uh eth fans, uh, i own eth, i own cardano.

I own solana i own avalanche, i own near protocol. Now i own tasos, i got a bunch of different things, a lot of stuff, so i understand, like everybody, has their their idea as far as like, where things are going what’s happening, but this is on the horizon, and this is happening. This is what’s going on. True, it’s all happening right, but we’re not at those at those final levels. Yet uh so just be aware of.

That is what is going on: we’re all really in a bunch of price discovery and everybody’s trying to get their best foot forward to get things to market, which is great. So it’s just interesting to note that it was so crazy, expensive, which we all knew. So if we take a look coming back here, why is everything going up? Well, i think everybody knows this by now, but sunday swap is happening. Sunday swap is the decentralized exchange uh that they’ve been working pretty diligently with iohk and here’s what’s happening.

This was written on january 15th and we’re going to talk about what’s going on how you can participate, um liquidity, providing all that good stuff. We’Re going to talk about the scoopers or the different uh different stake, pools that you can stake and actually earn rewards and which ones i uh know about. Not that i recommend but know about uh also going to talk about how to yield and then we’re going to talk about some negativity, which was not negativity but some concerns that were put out by the sunday swap team themselves. So, first of all, what’s happening here. Well key dates today is, i said it was the 16th right.

16Th. 17Th, damn 17th. So today’s the 17th ah monday on thursday january 20th, sunday swap will launch as a fully functional beta decentralized exchange, they’ve already gone to the whole setup, and they did a lot of different interaction. They figured out some things. They figured out some things that they’re going to have some issues when things start up and they put their best foot forward and they try to change these things.

I think it’s going to go pretty well, but there’s going to be bumps along the way, and the big question is because of the price that is going up. Is this because of the dex that is happening? What’S going to happen when the dex launches? Well, if you can think back to when everything was going on with smart contracts for cardano you’ll kind of see the same type of pattern and it’s up to you to determine if this is a buy, the news sell the rumor or buy the rumor sell. The news type of situation, or if this is a long-term play, it’s up to you not up to me.

This is investment opinion on investment advice, so, on tuesday january 25th, the first round of the iso or initial stake pool offering rewards will be calculated. The participants – that’s the people like you and me who are going to delegate to these pools, must delegate ada to qualifying iso scoopers prior to january 25th or 2145 utc. Someone did the conversion for me on january 25th. So between that time, between january 25th and now you have to pick a pool, if you want to do these things with your cardona you don’t have to. But if you’d like to get a little bit of sunday swap tokens, probably behoove you to do those things and then also you’re going to get both you’re going to get ada and sunday swap you’ll be able to earn sunday for all five iso rounds.

And we’ll talk about that a bit so january 20th yield farming. Sunday rewards begin, that’s a different thing. Yield farming yield faring will be available for at least the first six months of the sunday swap decks, and during this period, liquidity provider, tokens stake to yield farming contracts and eligible pools can order additional sunday rewards we’ll go with that in a bit okay. So how do you get sunday initially? There will be three ways to acquire sunday.

You got to participate in the iso available during epics 316 and through 3 20

So rough you’re, looking at around 25 days, yield farming rewards january through june and swap other tokens for sunday on sunday swap if you want to do that type of thing uh, when the iso will begin on thursday and will continue for five epics. I know some people say but rob it’s pronounced, uh, epochs or epochs, but it’s epics and that’s how they pronounce it. And that’s just i mean that’s what charles hoskins calls it so we’re just gon na go with epic right round one through five. You got january 25th, 30th. Fourth, ninth and fourteenth again uh every epic is five days.

Let me do some quick math five times, one 25, okay, so 25 days we’re going on so before i go into the yield farming thing: here’s the big important situation, you’re, probably asking yourself well rob, which ones are the pools that i can stake to because i’d Like to earn a little bit of uh of uh of sunday token on top of the card ada token. Well, here’s what you got – and this is uh done by a big voting process. There’S a couple of months ago – and here is the 30 that made the cut – i don’t know most of these most these guys, i don’t know wave 7 sky. I have no idea s-i-p-o-x-h, i don’t know those guys. I know ccv uh, crypto capital ventures, he’s been on the on the show.

Uh he’s got his own youtube channel and uh. It seems like he’s doing pretty good he’s got a lot of pools like four. I think, like that, uh itc, that’s ben over that’s uh into the cryptoverse, and he got paul and paul’s got uh his own youtube channel cardinal paul. Those are the ones that i know seem to be working out pretty well and uh. Those are the top 30

So, as you may know, you do not see d news in here so well.

I did get a participation trophy, which is the spo wait list, and so everybody voted. For i mean we had a lot of votes, but those votes didn’t really count too much, because it was the weight of the cardinal behind each vote. How many? If, if a voter had like a million ada, it was like far outweighed a person just with one ada, so me and ape we’re down here with our participation trophy, which is not bad. I mean hey, we get made the top 40, so that’s what’s going on!

So let me make this very clear. I put out a tweet last night, i said the new steak pool is not one of the 30 pools for the sunday swap if you want sunday and ada rewards, and you need to leave my pool by january 25th and re-delegate to one of these pools and Then that’s the i link to there and i just talked about how you know you got ben paul and dan uh and that’s what’s going on. So that’s essentially in a nutshell of what is happening so um. I know this isn’t probably great for my pool. I mean i’ll lose lose some people.

I did the same thing for meld when melb was going on and i lost like gosh. I want to say, like 10 million uh different delegates, but it’s what’s best for the community right, so you can’t do squat in my pool uh i mean you get some pretty great rewards. Just like a lot of different people and of course we uh. We donate uh a large portion to kiva, but you can’t get any sunday swap i don’t know. I can’t make it much more clear, so you’re gon na have to leave the pool and go to these guys to take it for what it’s worth and that’s.

What’S going on uh then, before i forget, let’s go back to the article right here so yield farming, so of course you can buy sunday swap token on other dexes. You can be a part of the iso or ispo initial stake, pool offering initial stake, offering. What do you want to call it or you can yield farm, so uh there’ll be five. This is the crazy part um yield. Farming is a form of staking used by dex is reduced the volatility.

We know that uh half a million sunday token will be allocated daily over at least the first six months of the dexa’s operation. So i’m going to guess that they got a lot of coins coming out to yield farmers participating in the falling liquidity pools. So if you want to be a part of liquidity pools, you have to offer both sunday ada um liquid is lq ada world mobile token. Hey uh, ada and then cards, uh, ada and cards is that uh that launch pad. So that’s how these things are done and i think i pulled up yeah i’ll make sure there’s the i link this in the description.

How will yield farming work on sunday swap because every place is a little bit different? Just so you know, liquidity providers receive liquidity provider or lp tokens in exchange for depositing a pair assets into a pool. The lp tokens received are for qualified pools, see here, which is the one that we had sunday ada lqa all that stuff. Those are the ones that are verified or ones they want to go through are qualified pools. Liquidity providers will be able to stake their lp tokens into the yield farming contract and obtain additional yield on top of the fees they accrue.

Yield farming contracts will be set for 30 day terms, terms will roll over automatically. You don’t need to withdraw and then restake you just kind of leave in there. Let the let the good times roll at the end of each yield contract term three yield period. Users may withdraw their initial lp tokens as well as any lp tokens earned as yield from qualified pools. The sunday swap dow will swap these additional yield generator liquidity tokens for sunny, so there’s a bunch of different ways to earn some yield.

Those are the three right or the two actually iso and then yield farming. So again, i’d link those in the description, so you can find those and read up on it, but the easiest way is probably just to just to stake that way. So that takes us through uh the isp pools for rewards and what’s going on, and then the yield farming. Now i want to get into some concerns, and these are the cardano dex concerns these aren’t. These weren’t concerns that i came up with these were concerns that the actual decks came up with themselves and you have to understand when people are saying like rob, don’t spread.

Fud, don’t spread fight. Fear answer your doubt. It’S just awful! This is from this isn’t. For me, this is from uh the actual this launch house exchange they’re like look.

We need to deal in reality and here’s the reality of what’s going to happen with this dex. So this is important to kind of figure. This part out, so here’s what we got. So this was a great article written by sunday swap on january 7th. They said, as we approach sunday swaps main net launch.

The team at sunday swap believes it’s important to educate our community on some of the expected operational constraints and limitations that the blockchain the decks will exhibit on opening day. I think that’s a big important thing to remember here, opening day and through the first few weeks. The kind of blockchain was designed for global reach and penetration, achieving consensus on transactions across the world in seconds and that’s why i’m a big believer? I love cardona, i like it. I really love the things that are being built on there, world mobile token, meld being uh, two of them.

Two of the many. I think it’s it’s it’s really building out quite nicely, especially world mold token i mean imagine being able to connect all the different people across the globe with telecommunications built on the coronal blockchain. You can’t beat that anyhow off my soapbox, cardano’s always operated by measuring twice cutting once this match results in initial parameters of the block chain being set conservatively during our test net event. This is important. The team noticed a large backlog in processing user action.

This was more due to the current maximum throughput parameters of the chrono blockchain, while this is likely to negatively impact the user experience, the congestion is a sign of the credential network operating as intended by gradually applying back pressure. So really, what they’re saying here is this so like look we’re going to have problems, we’re going to see these issues, it really is with cardano, as they start to figure things out and as we start to get more load, then they start to limit or delimit These types of congestion issues, so they can actually do the things that we want to do, which was scale and move faster, all that great stuff right, but there’s a process and it’s frustrating for me too, but uh look. I mean how many different products do. We know out there that uh just say: hey look at this wacky project, let’s see if it works out and then, of course, the developers make these projects and it gets out there and they’re like whoops broke and everybody loses their money who lost their money. Wasn’T the developers it was people like you and me who are like everybody’s like that?

Maybe this will actually work out and it doesn’t work out, and so just remember those things that sometimes it’s better just to go a little bit safety and just kind of pull back now, but we’d like it to go faster. Of course we would. Is it always available? No, it’s not so that’s all we got for this piece. Let’S move on to the other parts.

Let me blow this up, so even bigger, so you can see it and that doesn’t really help. I got an idea: let’s do that. Okay, that’s a little better, all right, okay, so during the testing phase 40 minute load test a single sunday swap scooper performed 139 scoops, that’s where that was those uh 30 different uh steak pools, and this is approximately three scoops a minute. This is. This is essentially transaction is, if that’s lower than the roughly seven scoops per minute we saw on the test net.

There are a few things that must be noted. These four things are big. There is a much lower barrier to entry compared to test net. There’S no need to interact with a faucet switch, your wall to test that etc. Basically, when you, when you did the test net part, you had to switch your wallet to the test net and then you could actually interact with it and try to break in all those things.

But here just you just go to the decks and just go. There is greater incentive to participate in the decks to capitalize on its utility with real funds. Of course we talked about that the iso and the farming, but there is greater risk of participation, since users are exposed to losses of real funds through trading activity, any decks that you go on is risky. Just so you know you can lose and of course, there’s going to be scammers out there. So be careful, uh your investments, if you’re using it in a proper way and then it could actually uh.

It’S happened before the sunday swap decks must share network bandwidth. Other launching protocols themselves, drawing additional network demand on cardano so due to staggering levels due to staggering levels of demand and excitement for our community. We expect a large backlog on mainnet, even under our most optimistic predictions, to be as transparent as possible. We want to inform you all that, while orders, including swapping liquidity, withdrawing liquidity, may take days to process, everybody’s orders will be processed fairly and on the order they will receive. Let me say that one more time, one of the most optimistic predictions we’re going to see some problems to be as transparent as possible.

We want to inform you. This is from the team at sunday swap that, while orders, including swapping providing liquidity, liquidity, blah blah may take days to process, everybody’s orders will be processed fairly. Although we expect this backlogger in the first days, the protocol we’re very confident the protocol can meet the normal. Day-To-Day load once things settle down because they’re going to be a huge amount of demand, people like me going there and playing around screwing around and just trying to see what it actually works. So while this demand surge will result in network congestion, i think we hear that term a lot on a lot of different uh, l1 solana.

Being one of them, i know just had to throw that in there uh. Eventually, the network will catch up. This will be further improved as iog implements a planned series of improvements and enhancements to scale cardinal network capacity throughout 2022, which is increase in block size, pluto script, member units and other optimizations, such as a new version of the chrono node. Another new networking improvement known as pipelining that’ll, be interesting. I don’t know what that is sounds great.

I don’t know what it is, but and then layer, two solutions such as hydra, which hopefully will lead us to 500 000 to a million transaction per second, which will allow large portions of the protocol trade volume to be executed faster and cheaper. So that was a very long winded way to say that there as things move forward – and we get these advancements just realize and you’re going to hear this from everybody, whether you’re a huge cardinal fan, kind of a fan of cardano or you’re indifferent or you hate Cardano you’re still going to hear the same things which is okay price is going up. Everybody’S excited around thursday when things start happening. You’Re gon na hear this like whoa, there’s congestion. What’S going on.

Oh this doesn’t work. This is a piece of junk. This will never happen, then, as things move forward you’re going to see the price, i can’t i’m not going to even try to predict. What’S going to happen with the price. I really don’t care because the long term it doesn’t matter uh price could do whatever it does and then you’re going to hear the same things same stories come out about how well it’s really slow and doesn’t really work.

But you have to understand that it’s working these things through, could it be the greatest thing of all time sure? Could it be faster, yeah, maybe and uh? Could everything actually just kind of gets streamlined? It’S up for them to say, there’s a different way of making all these things. I am not a developer, i’m just happy that we’re going in the right direction.

Let me know what you think in the comments section. Let’S move on to our last piece: boomer is on board for bitcoin. This, i think everybody can can can rally around. First of all, that’s dame rave. That’S dave ramsey um that has never seen a show he’s all like a financial guru, guy and and uh.

Just by looking at him, you can tell that uh, probably a boomer, and he probably has a large scale of people that are also boomers. And why do i keep saying the word boomer it’s because of this graph, and i know when people say like well, you know rob all the money is is is coming down whatever else sure the baby boomers, depending on how you want to define those or in Older generation and the percentage of u.s households – i don’t know how this works: uh uh globally, but the? U
S household wealth by age of generations, meeting court baby boomers have the most amount of cash and assets and funds. So when you got somebody like dave ramsey coming out and going, you know what hey crypto’s, not so bad, it leads us to the same thing.

I was talking about with walmart. Yesterday people are like you know, i don’t know about crypto and uh. I’Ve heard it’s for like illicit activities. All that nonsense. We always hear about it but uh.

I trust walmart. I shop there all the time and if they’re getting a crypto, then it shouldn’t be so bad same thing with dave ramsey. Well, i don’t know about this crypto because silk road and blah blah, but if they’ve ramped, you said it shouldn’t be too bad. Maybe i should take a look at to it and again, let’s make a big tent for everybody to come on in so financial guru, david says: crypto is fun, that’s a stark contrast and he was on uh fox business today and the uh the host asked him. I know that you warned against crypto, you called it a get-rich-quick investment.

Are you telling us that we don’t have or should not, have any exposure to crypto? He says no. As long as the exposure is money you can afford to lose whatever you want to do with that, which i thought wasn’t the most exciting way to say it, but it gets better. He did caution. This we’ve got people mortgaging their homes.

We’Ve got people taking their retirement out of the 401k and dumping into crypto, as if it is a proven process to build wealth. It’S just not a proven process. I have to dispute him right there because uh, a friend of the show diddy from the bitcoin family, that’s exactly what he did in early 2017.

He sold his house, he sold his business, he sold his cars, he put it on the bitcoin. Was a thousand bucks worked out pretty well now?

Does that mean that you should take all your money out and sell your? You know your house and your family and kids and kidneys and just go. You know what i’m going all in on tomato coin. No, that’s how i’m saying i’m just saying that uh it can actually happen. Is it proven?

Well, it’s happened before, depending on the right project you get into so to move on with this story and we’ll finish up, he says i think it’s kind of fun i enjoy watching the whole thing and all that, but it’s an anomaly on the side. It shouldn’t be a big part of a personal financial plan to build wealth. It could be a small part for funsies, and this is the same thing that ray dalio went through. This is the same thing with like a lot of these different gurus went through. They would talk about bad about it, then they would do more research and then, of course, you see everything around you going on like wow mikey’s, getting into it wow walmart’s, getting into it wow.

You got the bill miller’s getting into it, he’s a legend and then the paul tutor jones, so maybe there’s something to it, and then they do their research because they feel like it’s. Okay – and i was saying like that’s okay, so it’s just a group thing and you can call them lemmings or whatever you want, call them, but really we’re all kind of subjugated to that, and that’s just the problem so uh, i think again. I i think this is good for the space and i’d like to see how it actually all works out, but that is uh. That is the majority of what is going on right now. So look uh.

I know that was uh that first part of our cardano. Some people are gon na love it and some people are gon na hate it. That’S just how it is, but just remember that we really should be all cheerleading for each other, because it’s really us against the world. Let’S be honest, uh, you know. Any people want us to fail on crypto everybody.

Imf probably does i can guarantee that uh the different uh traditional banks, maybe the ones that haven’t gotten in so really when we take a look at these things, just have a little bit of compassion for other people. Hey if you’re making money i’m happy for you good for you and that’s it for today. So look i’m going to go over we’re going to do a little quick q, a i’m going to take five questions and i’m just like. We can actually keep this below uh 30 minutes and then we’ll go off from there. So let me bring up some comments and see what you got great jordan.

Ross is a perfect tomato coin. Proof of sauce uh. What else we got? Let’S make tomato coin. The card i’m sure i can deal with that uh, let’s see, selling some of cordano, maybe buying puerto rico.

Great! Look! I’M going to do an updated video on puerto rico. I want to share with you guys some a couple: a couple of new uh real estate agents: uh, i’m definitely a new lawyer if you’re looking at the act 60, because the one that i use like super overpriced, i found a great guy, his name’s jaime, and He is great and he can do it for uh very inexpensive and then just talk about some things. I’D like to you know what i’d like to bring on is some people who live here right now, uh we’ll see how it works out.

Maybe crypto crow has got time. He did a great video. He did a great video and pretty much laid it all out about uh people are great potholes suck and some other stuff. It’S pretty funny. Let’S see what else andy can have three bucks easy.

You know. John, that was one of my few price predictions. I got right. I said it was going to three bucks and it did i, but i really bombed on the bitcoin ethereum one though i think we know that and like with everything we should have patience. Yeah, like axel rose, says better have millions.

You want to invest in real estate there, it’s pricey, but i got an idea of how to get investing into crypto here. I have nothing to sell you, but it’s going to be called it’s going to be a dow uh. Iohq is not american. Why? To keep mentioning sec, i don’t mention sec, but if you’re selling to uh american clients, you and even charles hoskinson has made a suggestion about this uh.

You have to be aware of what’s going on, so it doesn’t matter if you’re in australia or if you’re in uruguay, if you’re selling to uh american consumers, you have to be worried about the sec, that’s how it goes. Uh can you? Yes, i will gary is watching gary watches the show i don’t know if you guys knew that gary is uh. I think he’s now a member digital asset news, not for sure but uh. I need to bill him for that.

The blockchain is a nice number or something i don’t know which blockchain uh. Okay, let’s see, i think that’s it. Okay, how about this one? This will be yeah. Okay, what?

If all people who hold ada from a dollar fifty to twelve are sold on thursday for cash, well, then the price would go down. What does that mean if the price goes down, you get to get it for cheap. So that’s all you want to look at it and that’s it. So look um great, not too many questions today. I got a lot of things going on here, except the house and stuff like that.

So if you like, today’s video give it a thumbs up, also consider subscribing. While i need to talk about our time sensitive and that is it for today, thanks so much everybody for coming by. I do appreciate it and i’ll see you on the next one.

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