My eyes are up here. I personally would not advise that strategy. bug how to make money in crypto. What an intro man, i sure, do: love that welcome to bit boy crypto home with bitcoin, the largest and greatest crypto community and all the innerwebs. My name is ben everyday.
On this channel. I show you how to make money in crypto. If you like money and crypto make sure to hit that subscribe button, if you want to go deeper in crypto, make sure to get over here and go down to a bit lab academy. Dot com company live every single day, 11 40 eastern standard time. Did you guys know uh today is Thursday December, the 16th uh, it’s 71 degrees, good thing, I’m wearing a sweater in here today.
You know our Christmas party tonight, to yeah, it’s going to be fun. We’ve got the uh all the decorations up, we’re going to be seeing children and spouses of the new employees that we haven’t met yet yeah and uh music and oh, we are, i did marry me. I didn’t think about that. It’s gonna be fun yeah, so that is uh, that’s exciting stuff and guys do as a favor right here. While we get started, let’s go to kick it off, make sure to hit the the like button, uh the more likes that uh people do on this.
Video, the more people will see it. They said it. This looks like it’s painted on well, you know. I’ve always wanted to do one of those full paint bodysuits, where you can’t tell if anybody’s wearing anything. Underneath you just look for the for the panty line.
I think that’s what you look for. There definitely go shirtless for that, so you want to do body painting. Is that what you’re saying yeah i? I know the person who do it got a lot of great artists around here, but the touch of your fingertips would be the way to paint it on my body. It’s a little something extra yeah.
Definitely all right guys, um bitcoin is, like being you know, a little pump. Yesterday, um, we, I tell you what I’m waiting on. We are in this VMax training competition. I am waiting for tomorrow. I think tomorrow is going to be a decent, a decent day to trade, because I’m really kind of um – I don’t say nervous nervous – is not the right word.
I’M definitely not nervous, I’m highly anticipating to see what happens in the next 24 hours as we get the futures closed onto rivet. Tomorrow comes, i think we decided it’s 4 or 5 a.m. very early in the morning before I’m awake uh most days. So that’s going to close and right now we’re really teetering. You know on whether or not the bulls or the bears are going to win the week for the futures and usually what we see is we see continuous weeks of winning in one direction or the next?
So if the bears are able to pull this thing back down under 48 000 today and keep it down there, then that would be um. You know big for them, so it says wind, pomp, guest appearance. Somebody said i don’t know they won’t respond to us anymore. So well, opera is there if you want to come on the show he offered to come on his show and i came on and then did the show and now you know he hasn’t talked to us in a month or since the last time he was on. So still invitations everyone’s going to talk crypto, but we will hopefully not be yelling on the next show we’ll see, though we’ll see, i don’t think there will be any yell um.
So all right guys, let’s go ahead and jump into it – 1.43 million subscribers and get everybody we’re marching towards 1.5 million. And if you watch the channel you haven’t subscribed yet do us a favor make sure to hit that subscribe button um. So here we go um!
Don’t forget to uh check us out on Instagram we’re almost 400k. There don’t forget to follow my personal Instagram, where i take non-crypto photos 5100 on twitter, of course we’re at 72 722.6. Okay, followers uh! This is over our secret Santa submission is over uh.
We are picking the recipients of this today. We’re gonna give them the option to take it. I mean they may not want it to need, they may want it in cash, the many money for Christmas or the holidays, so we’re going to make sure we get the equivalent of one earth to these families we’ll leave that up to them. Uh we’ll be uh. Getting handing that out tomorrow we’re not going to do it on the show, because this isn’t about us like doing some kind of you know, we don’t want to be like look at this person’s horrible story.
Look how terrible their life is going right now we help them like. No, we don’t want to do that. We don’t want to highlight people that are going through tough times, so we will be doing that tomorrow. We’re excited to help people for the holidays. I think that’s definitely a cool thing and uh.
You know glad to do it all right. So the overall crypto markets right now coming in 2,
26 trillion um up quite a bit from yesterday. We were down below 2.2 trillion yesterday morning, um 114 billion in volume, so the volume has gone up about uh. You know 20, since yesterday bitcoin dominance falling how about that 14.
percent and Ethereum at 21.5. I think 21.7 was the high it got to last week. 107
5 Paraguay’s we’ll send an e-transaction for you right now.
We are at a pivotal pivotal moment here for bitcoin, as we are at 48.4. We need to hold that 48
Anything above a 48 000 bitcoin um would be extremely bullish for the weekly close. If we were to be above 50 somehow today, that would be absolutely insane uh. So how about those falcons?
That’s what somebody said about those falcons in playoff contention tied for the last playoff spot. Our coach must be really good because our team’s awful yeah, so um anyways uh Ethereum, coming in four thousand. Seventy nine dollars up ten percent over the last 24 hours still down. Three percent for the week – that’s what’s important to note – is that over the last seven days, Ethereum is down more than bitcoin, but that also depends on kind of like what time of the day you’re checking, because it’s exactly seven days, um binding. It’s going back up to 540
Uh Solana pumping back to a 184 bucks Cardano up, finally up seven percent, but still at a dollar thirty, so you know you guys know it’s kind of like you see these numbers and we were talking about the other day.
Dj, like you’re super excited about certain numbers, and then it starts crashing and you’re like well. At least it’s still here, and then it stays around that point for a while, and then it falls lower and you’re like well. At least it’s still here, like we got at the point Cardano now we’re like at least it’s back to 1.30. You know same thing with XRP like at least it’s back to 83 cents doesn’t feel too great it’s in there with bitcoin like at least it’s back above 48, 000
It’s not good we’re nowhere close to uh nowhere close to where we want to be um for these prices, but look at avalanche avalanche, crushing it.
I talked about this last night on our video is that when you see some of the coins that are crushing it, they were the coins that were crushing it before the crash before the last dip. So, in my opinion, i think that definitely you know is a bullish. Is something bullish, because it’s almost like we’re resuming things. There was a lot of nervousness around this fed meeting and now the fed meeting uh is over and we got some. You know kind of man news, i mean it’s bullish, but it’s also not bullish.
It’s it’s bullish for a couple months, bullish till march, so i don’t know we’ll have to see what happens i mean if they extend it out to may still not super bullish. Talking about raising the interest rates I’ll have to see what happens all right. Let’s look at the top gainers of the day, looky there Kadena up 34 today um, but you know what it’s another one of these things we’re like Kadena’s up 34 30 for the week. It’s back to twelve dollars and sixty one cents exactly. You know still not above where it was two weeks ago.
Right um, I mean you look at the chart for the last three months. I mean this thing was all the way up. It peaked at 27.25. So it’s still down over 50 percent, but it does go to show kind of what you were just talking about with these alts that are bouncing the hardest.
You know, you’re seeing are we have another one that was doing pretty well. A lot of these other ones are kind of random. I know eagle had a good bounce h bar you know some of these ones that were very well talked about, as the run-up happened performed well, but they didn’t really have that blow off top. Yet yeah like this is the kind of action we need to see to feel like that’s possible still down, but it you know, gives us bullish feelings anyway. Well, and – and this is the way the whole bear market feels yeah like the whole bear market feels like you’re, just constantly lowering your expectations, I’m not saying we’re in a bear market.
I have not said that, so i believe we go below 40k. I mean it. Definitely has a great chance to be um, but a lot of people don’t think it’s going below 40k. So you know it’s definitely good uh, but you know it is a kind of thing like we were like well, at least at least bitcoin’s still at six thousand dollars. You know that’s what we were saying back then so um other coins that definitely moved.
All of these up over 15 percent – you know v chain volume, because v changes back down to eight and a half cents golly, it’s crazy. I hate seeing that thing so low, but what a good buying opportunity i mean you know Vechain definitely won being up 13 back to eight and a half cents. You know, but i remember when this thing was under a penny, so um, okay. So let’s go ahead and move on here: q, a yeah: let’s do some q a uh, this one’s kind of an interesting one which do you think will happen. First, will earth reach 10k?
Well, not first! Well, i guess he’s asking both will eath reach 10k or cardano 10 dollars? I guess ever ever! Well, there’s! No!
No! I don’t think he means ever well. What do you think he means you’re going to make it. I think he means, in this bull run, as is what he means is still possible or not in this bull run. It’S going to go those numbers.
Those are those are numbers forecasted in our prediction. For this bull run. You know i haven’t clarified, but i’m pretty sure he’s talking. Not ever i mean i’m sure. Almost everyone believes eventually you know.
Ethereum specifically will definitely get to 10k um. But you know the thing is is uh. I still believe it’s pos. If this bull run is not over, if the bull run is not over, which i don’t think that it is, the ballroom is not over, those numbers are definitely still possible. If 69k was the top, not a chance, it’ll be a long long time.
If 69k was the top for bitcoin, that is going to have such massive reverberating effects throughout the entire crypto market over the next several cycles. Right because the bitcoin only goes to 69k, then that means – and i do believe in diminishing returns to a certain extent uh. That means that we were only able to 3.5 x, our previous all-time high okay for bitcoin. Do you guys know what the what the previous number was from the last all-time high to 2017 peak?
It was like 17 and a half x. It was almost 18 x, so we went from 18 x to 3.5, following that. That would mean that the next top for bitcoin should be well. What what is that math there?
So, basically, let’s just say 18 and three so six, so it would be uh divided by six point. Five. That means the next all-time high would be like eighty-five thousand dollars or ninety thousand dollars, like that’s what that would set that up for to mean, and if that’s the case for bitcoin, even if ethereum were to double that, that means like ethereum would only be able To get up to like eight thousand dollars in the next cycle, right, that’s not bullish for crypto that you know. So these are things you got to think about when we’re considering is this a bear market? Is this?
A bull market is not just what’s happening here, but how does this affect the cycles in the future? Now, if 69k is a top, i mean if, if we don’t pass 69k for 69k again for years, which would be traditionally what we’ve seen with bitcoin, you know throughout its history, so uh interesting, stuff, uh. Any thoughts on cro and cro staking yes taking cro is great. We’Ve done it before love cro. I think it’s a great project, um.
I think crypto.com is continuing to show they’re a massive player in this game. They’Ll continue to be, they do advertising just like um. You know ftx does we’re looking at a coinbase story, signing a big athlete here in in a little bit. Um!
Oh, is that not on here today it should be. Maybe it’s in. Maybe it’s in its own. I don’t know, maybe well look yeah. It is on here i see, i see his name so, okay, so yeah there we go uh.
Next uh go back up a little bit on the basement, more more, more, more, more, more, more, more and more more more okay hold on what was that. Can i see the body paint guy? Can i use your body? I answered it. Oh, what’s best what’s best uh inflation or tapering, what’s best for crypto inflation?
Is i want to answer that question because that’s an important question, because you’re hearing a lot of these terms, you may not be an economist, you may have no idea, you know what’s better and what the rever you know the long-term effects of each would be. Inflation is great for bitcoin and crypto, because that shows that the current system doesn’t work, uh, tapering or is a sign of deflation. That’S where they, they start tapering the free money, and then they start raising interest rates, which makes it harder and more expensive for people to borrow money, which means there’s not enough money flowing through the economy, as there was previous and those are the types of things That lead to deflation, which would mean a very bad bear market um, because what we’ve seen is, as inflation was going up, the value of the dollar was going down. The value of bitcoin was going up because it was during that part of the cycle we’re in a bear market. The value of bitcoin will be going down, while the value of the us dollar itself will be going up.
That’S what deflation causes. So there you go. Um, i did have one more uh: will eve 2
0 kill the layer two’s value proposition. No, i feel, like we’ve answered this question a lot. Um we’ve talked about several times.
My dog’s already said. No, that’s not going to be the case. There’S still going to be a need for layer. 2S. I think the question you have to ask yourself is: let’s think, about internet speed for internet speed.
Listening about this, is it ever good enough? Are you ever browsing around the internet and you’re like oh, my gosh? I would not like faster speed if you’re downloading a movie on your playstation or or a game on your playstation or you never like, or are you ever like? Oh, this is good. I don’t mind waiting 12 minutes to download something massive.
No, no, it can always be faster. So with ethereum, it’s the same thing. Those layer twos will always be faster than using e2 or layer, one so yeah there will always be a need and the more transactions that come about uh. You know the more we’re gon na need some more. This is what people forget, we’re not talking about ethereum or or we’re not talking about um, only financial transactions.
That’S where people get really confused, why the speed is so important. It’S not just a financial transaction like visa like a visa card. Okay, those are all financial transactions. Transactions in crypto are anything requiring a smart contract. So it’s financial transactions along with many many many other opportunities um for action.
So that’s why we need much more throughput for crypto than you have on the you know, financial market, so uh 8 100 viewers. We got 1577 likes man. They just must not be showing us to people here at this point um. So if you guys could do us a favor we’re fighting against the youtube algorithms right now, um we’ve been doing some testing they’re youtube, we’re we’ve. They are basically uh making it where people don’t see these videos, and so, if you could do us a favor, stop what you’re doing if you’re watching on mobile hit the little x in the top right hand corner above the chat, hit the like button and then Come back to the chat, if you are watching on a smart tv which a lot of people are watching now, you know i was on my smart tv and my youtube videos just popped up there, which is so crazy um, but go to the bottom left-hand corner Screen there will be three dots hit, that it’ll, say more actions or more options, hit react and like this video, that’s the only way that youtube is showing people these videos number one thing you can do as a bit squad member.
So, okay, all right. Let’S go ahead and uh move here on to the um charts here, as we look at this um. This is the daily chart here on by bit and a reminder. We are doing our uh femax contest. You can go to boycotter.
om deals. We have a sign up for femax. This will get you also don’t forget to do the coinsats portfolio tracker. That’S a great deal for you guys, but you can click here and kind of track. The contest right now we are group.
We are in second place. Look at that second play almost in first place, so we’re crushing it right now, um we have the number two team. That is amazing. We were like number four number five earlier, i’m for for personal traits, i’m kind of waiting for tomorrow, so i should have something done tomorrow morning to show you guys a trade. I might do some trading later this afternoon.
I got to get this on my phone, so i can do it when i leave the office, but i’m kind of waiting for some confirmation of some stuff uh. You know when it comes to these futures closes. We talked about in the past fridays and sundays seem to be bad days to trade um. Traditionally, it’s when kind of the most activity because of the opening and closing the futures markets. So we’ll see what happens, but you guys can definitely track that wow, proud of our team second place.
That’S pretty good, pretty good, um, okay! So back to the chart here, though um you know right now, we are having trouble we’re getting rejected, as you guys can see right here. We keep getting rejected off this top ema ribbon line here or the bottom. Well, i guess this is the second to the bottom line here on the ema ribbon. Um we’ve talked about these green dots.
We talked about we’ve, never seen this much activity on momentum. Waves in the history of uh buy bit, which goes back to december of 2018
So i think you’re the super chat there ron and i appreciate that so really, i think a lot of the action here. You know we have to go to kind of the smaller time frames to see what’s happening, um right now, on the four hour chart in the short term, it shows we did get a red dot at the top of this momentum wave which doesn’t always play out. I mean they don’t always play out, but right now it looks like we could be in for a little bearish activity now, for here we’re kind of you know, ranging in a very tight ema, ribbon right there, which kind of shows indecision you’re going to see this. A lot more obviously on the smaller time frame charts.
But if you look here, you know not super bullish for the four-hour chart. As you know, you can kind of look at it. Two ways you can look here. You can say a low low or low. Well, you could say this is a lower low than another lower low than a lower low.
So you can definitely look at that and then you can say: oh here’s, a higher low, here’s, a higher low, so um, i think that’s higher at least higher than the wicks here. So you kind of look at it and go that angle with a four hour chart, maybe paint a a a bullish. You know kind of um signal there if we were to just kind of look from. Let’S see, let’s look from the top here to here i mean if you’re looking at this i mean, which is accurate. I mean you’ve got a lot of points touching here.
You have obviously the point here point here: uh point here point here, we’re bouncing kind of above it, so maybe on the four hour chart we could be due for a breakout here, we’ll have to see what happens um. You know with this so and then kind of looking at um looking at ethereum here, you can kind of see we did have on the daily chart. A couple days ago we had this massive blood diamond which did result in some downward action there. But what’s really important to look at here is it looks like we are. You know ethereum’s holding up pretty well right.
Now we go to the four-hour chart and look at it. Hey look at that on the four-hour chart. We just got a green dot on the top here, which, if we go back, these traditionally lead to some breakouts. So that’s some positive news. If you want to trade some heath in the short term, here’s one now this one here didn’t really play out that one did not play out uh.
This one played out this one played out massively this one played out massively. That’S going all the way back. Let’S go back a little bit further see how many times this one did not play out this one played out massively this one. These two, both you could say play i mean you really could argue, probably that all three of these were part of one movement. You know that had a top up here, so the longest short of it is when we get these green dots on the top of market.
Cyber, a they’re generally very bullish for ethereum um. Looking real quick at the ethereum versus bitcoin price, it is still it’s almost eight and a half percent and look look at this. Wow just got this as well. On the four hour chart green dot breakout on the e versus bitcoin value, so this could mean bitcoin is getting ready to break out. I think george was making a video.
Last night, i, like george jor’s, a good guy. I, like george george, was um making a video last night. I think, if i remember correctly, telling his people hey ethereum’s about to break out his time. So that’s definitely some good stuff. So what percentage of the dots actually play out?
What we were looking at there? It looked like about probably 70 to 80, but but the problem is, if you don’t understand how you’re trading, if you don’t understand your your leverage and your risk assessment, those two or three times when it loses, if you’re going all in and you’re, not using stop Losses like you can lose everything on the 20 or 30 percent that don’t hit when you’re making good money on the other ones. But if you don’t do it right, you lose everything, so you got to be really careful and use proper, uh risk management. So um, oh and that’s why i like i’m, look i’m trying to win this contest, i’m trying to win this v-max competition for the bit squad here. So i’m trying to be very picky about when i go in, because i really want to keep the train going here with a lot of these great trades, um.
Of course, here’s we looked at this yesterday number of active addresses so real quick. We do have uh. This is a project we are invested in envoy is not sponsored per se, but we are invested in this project. Um envoy um. This is a collect to earn platform for nft developers, so we do want to give a little segment here to this project.
We’Re invested in we’re super excited to explain in detail what envoy is going to be releasing in line with the recent changes to our branding. We started the beginning of 2021, as envoy network focused on helping artists, celebrities and brands enter the space. We expand our network and continue to help notable figures enter the ecosystem. We also want to create more value for existing nfts and their collectors notice. A big gap in the market we saw multiple marketplaces, go, live in combination with various protocols and wallets.
It quickly gets messy and fragmented unable for collectors to showcase. So you know what i was thinking tj. What’S that last night, um here it says envoy, is the digital gout uh gallery for nft collectors, but i got this. I got this new funko i like funkos, i’m not super nerdy with it. I just i like stuff that i like right, like here’s, a little stone gold, steve austin.
This is mike tyson. The goat mike tyson was the greatest boxer of all time. I don’t care what anybody says. I know he had some issues. I know he eventually lost and he lost his swagger and he lost.
You know he. I guess he kind of always had the swagger, but he lost his dominance because he wasn’t focused, i believe, at a certain point in his career love mike tyson. I have a funko the represent, so go steve. Austin loves him cool, steve, austin right we have game of thrones, i love game of thrones. We have um, you know video game characters, mortal kombat characters.
I love funkos are kind of almost like real life nfts. In a way right, in terms of what envoy’s talking about here about a gallery of your nfts, if i put all of my funko pop dolls, whatever you call them dolls, my grandpa would be mad if i called them dolls. If i put them up here, you would look at my collection and you would kind of have an idea of what i like right. You kind of have an idea of who i am and what’s important to me right. That’S what these nft galleries are going to be like, where one day you’re going to walk into somebody’s house in the metaverse and you’re, going to see all of the things that they have on their wall and be like.
Oh, this is a person that really loves cool art, or this is a person that really loves like crypto related projects, or this is a person that really loves gaming and it’s a way to represent who you are – and i just thought that was really cool. The way that i noticed my buying habits for these are very similar, the way that people buy nfts yeah – i agree so but uh. If you guys want to know more about envoy, you guys can check it out and that’s kind of what envoy is trying to solve. They have a new roadmap out check out their medium or go to uh their website, which should be at the bottom of the page. Here it is envoy net.
Well, let’s see envoy dot, art envoy, dot, art ways to display stuff. They got a new road map to go check it out all right. Here we go bitcoin you like it yeah. I usually hate it. Historically, accurate momentum indicator hints at possible bitcoin breakout ahead.
Are we having a momentum shift? A lot of people are talking about, including my novogratz. The the the 40k range was the bottom of before we head to this next move. A massive bullish move could be the result of this week’s momentum indicator move in line with behavior throughout 2021.
Bitcoin can see a massive bullish move if a classic trigger from the 2021 bull run repeats this or repeats yeah this week, while still under 50k bitcoin has already broken out of a long term downtrend on the momentum indicator, which measures closing prices against those from a Period in the past two such breakouts have occurred this year and after each one bitcoin usd went on to see considerable upside.
So these were basically the the um. You know the bottom here in july and then the bottom here in september, and then you know we’re at this very similar place here as we head towards 2022
Well, not a guarantee of up only price action. The momentum data joins a large number of on-chain metrics flashing bull signals this month. Highland is known for his highly optimistic price forecasts uh in last month. I think it’s funny.
They just called him highland. Does it have his name somewhere else? Oh it did. This is his chart up here: okay, his name matt, highland, yeah, yeah or matthew. Don’T want to shorten his name, my wife hates.
If you call her beth, you ever meet a bethany and you would think, like. Oh, they probably don’t mind being called beth. Do not call my wife beth. You will not be on her good time. I, like her good side.
It’S pretty good uh bitcoin, bottoms trucks are on the rsi momentum. Indicators. Look very similar, so we’ll see what happens here. So something uh very interesting um dollar, dr dives host fed. So we saw the dollar you know i believe temporarily fall due to that news.
I think basically, what we’re looking at is you know march is probably go. I mean at this point looking at the economy, i’m gon na stop giving crypto predictions, but uh, look at the economy march looks about like the break point. For that thing, i’ve already told you guys before. I think the pandemic will pretty much be over. In march.
Two years from when it started that has a lot to do with the varian and the symptoms of the variant. They’Re, not very dangerous at all, it’ll probably become the dominant one. Don’T get too much into that again. But the point is the fed announcement lines up with that so and we’ll look at another story at the end talking about the eu and inflation um or lack thereof, that will also kind of back that up, bitcoin spikes to 49 000 as they leave the the Rates unchanged um, as you guys can see here, fed, will maintain zero rates, and you know it was told to me uh mr x basically told me before this announcement the morning of the announcement he told me he said the biggest thing that’s going to come out Of this announcement today is people aren’t going to really know what to think about it, they’re not going to really know which direction things are going in and that was demonstrated tj i were talking about this morning before the show, and it’s like, is this bullish or Is this bearish, the the obviously the interest rates being the same, like that’s bullish for inflation, bullish or bitcoin, guys march is when they’re going to go up. They had said june, so that’s bearish for bitcoin, because it’s going to be hard for bitcoin to gain momentum.
When you know things are going, the opposite direction. Bitcoin is not peaking if the economy is crashing – and we – you know, talked a little bit about this earlier – about the uh, the interest rates and how that works. So that definitely is what happened. Somebody said the xrb settlement will uh spark major upswing. I’Ve been told, that’s gon na happen, that’s true.
When who knows i’m not gon na tell you when i think it’s gon na happen anymore. Okay uh in the last story about this uh bitcoin should hold 40k said mike novogratz. If not it’s a buying opportunity, um argues the kraken ceo, but we really want to focus on mike novograt said one of the biggest guys in crypto um. He definitely thinks that’s going to hold 40k and i do believe him. That’S when we’ve got 40k set is a very important important, um number.
Why these? U?
S senators demand clarity from u.s treasury secretary on crypto brokers, guys. I told you guys for a long time that this broker language and this infrastructure bill was not going to be a huge deal.
It was not going to be a huge deal. It was basically going to be uh not enforceable. They weren’t going to be able to enforce this. This was basically where a tag of broker was going to get laid on everyone that does transaction transactions in crypto, which is basically everyone. If you do something peer-to-peer you’re a broker according to this language, but i told you that this would not happen because it’s unenforceable and now we’re starting to see the path on how this is going to be become officially unenforceable as written the sec.
The treasury already said they’re not going to enforce it as it’s written, but we need to get specific language uh around the regulation. That shows that so uh in a bipartisan group of senators, uh wrote a letter to janet fellain, yellen um, signed by cynthia lummus pat toomey, rob portman mark warner, mike crabbo and kristen cinema, all people, at least from crypto perspectives, that we like feel like they’re working To do something positive or crypto um, they sent a demand letter to janet fellain yellen um. In 2021, the u.s administration, led by joe biden, proposed an infrastructure and jobs act. Bill proved in both you know: congressional chambers, um.
You know we uh supply chains, roads. Other components are the focus for the crypto industry. The law could mean bad news as senators recounted. It will change information reporting by brokers of digital assets, to the irs, could force miners, digital wallet providers and other actors in the industry outside the law. They would require providing information which, in many cases, lack the u.
senators asked janet to consider the different consensus. Algorithms and the difference between each crypto project. In that way, the us will not stall innovation and finance in other sectors, the government officials emphasize the priority on consumers and constituents, many of which are bitcoin holders. Thus, the need to oversee the congress ensure that the provision on crypto and brokers is implemented. They added the following: digital assets could be impactful.
Technological developments in certain sectors and clear guidelines on tax reporting requirements will be important to those in the ecosystem. It will be important that we continue to work to provide further clarity and to help ensure the u.s remain a global leader in financial innovation, and i think we just get in this habit in crypto and i’ve seen it time and time and time again. We freak out about stuff, it’s led by people on twitter, and you know people on youtube, maybe whatever it is, and during this whole entire infrastructure bill. I have been telling you guys.
I i get gave you one video. That kind of pointed out the worst case scenario here for crypto, but on this live stream every day i’ve came on here and i’ve explained to you, don’t listen to what’s being said, this is going to get worked out. The risk versus reward for the united states is too greatly swayed in one direction for them to stifle crypto they’re not going to do it. They’Re going to stifle elements of crypto they’re going to stifle stable coins, they’re going to try to stifle d5 they’re going to try to stifle things that compete with banks and staking and interest rates right, they’re going to they’re going they’re going to go against that stuff. But blockchain technology and crypto as a whole they’re going to want it to flourish.
You know it’s very obvious to me in the very beginning that this was not going to be applied, as is, and it looks like it’s still not so good to see that they are still um. You know still pushing forward for this clarification all right here we go huge crypto deals truck. This is the one that was the headline. That’S a good headline: kevin durant signs multi-year deal with coinbase, michael jordan, launching air on solana, and it’s a good time to tell you guys. Uh we wrote.
Let’S see here, we wrote a sports op-ed that just got published. I believe here it is uh how sports and crypto are knocking out the park. If you’re interested in crypto and you’re interested in sports, you guys go to forecast
News, that’s forecast with a k, f-o-r-k-a-s-t uh, dot news and check out this article that we wrote about what’s going on with um with crypto and sports, so pretty interesting stuff. What do you think about this picture? That’S interesting!
That is, that is an interesting photo of me. Yeah uh! That’S what i look like with no beard. Well, if your my wife would divorce me technically, there is a beard there, they’ve just turned it all white. That’S why that cheek is that’s, why people were in here saying santa claus yeah, because they’ve obviously they’ve obviously seen that yeah, it wasn’t the sure giveaway.
That’S right was not it wasn’t that it wasn’t that absolutely not uh, so anyways kevin durant has in his company 35 ventures sounds like our sounds. Like our world, i have signed a multi-year deal with crypto exchange coinbase to promote the platform. Durant will be the face of the brand, as part of the agreement will appear in coinbase advertisements. Coinbase will also work with a sports site, boardroom, more digital ads and sponsored content about crypto, and i tell you what is so. What is so interesting about this?
You know steph, curry, just set the all-time three-point record. Oh did he yeah? He said the all-time three-point record, which is funny because he’s not even close to ended up here. He’S gon na probably he’ll probably end up with five thousand three-pointers in his career, which is incredible ridiculous. I mean i could make that meaning a day if i’m just out there shooting you know what i mean five thousand but um the thing about it is, you know, kevin durant and steph curry have some bad blood kevin durant has bad blood.
I think with everyone that exists pretty much he’s just a chip on the shoulder kind of guy, which i like a lot better than lebron, but um. I like that chip on the shoulder attitude. I don’t know why i relate with that so much, but the fact is is that he just gave away three rolex watches to three of his teammates, who have given him the most assists, which is uh, draymond, green, andre, iguodala and klay thompson. However, klay thompson’s number four number three is actually kevin durant and guess what kevin durant did not get a rolly and he said yo steph where’s, my rolly. I can’t remember what the tweet said, but what who is steph curry work with ftx, who is their biggest rival coinbase now we know.
Ultimately, digital currency groups got their hand in all this stuff right financial cartel, but as brands they compete against each other. So we got kevin durant now on one side going to be the face of coinbase, whereas i would say tom brady’s the face of ftx, but you got steph, curry rival add blood between them. I don’t know, i think it’s pretty cool. I think it’s pretty cool. As a uh, a sports story, so well, it’s fun.
Seeing this sports crypto crossover with all these arenas and stadiums and stuff and athletes getting involved, it’s going to be fun as they kind of those two worlds collide in the future. It’S going to be fun to watch yeah yeah, i agree 100. It is so interesting and we don’t really see a lot of we’re seeing a lot of athletes, but we’re not seeing a ton of other types of celebrities representing some of these exchanges and stuff like that. Right i mean matt. Damon did a video with a commercial over ftx, but outside that i’m not really sure yeah they had alec baldwin was doing the etoro they’ve had little stuff, but nothing major yeah, and it makes sense they’re going for these athletes that have international reach.
That’S what these exchanges are looking for, i think so. In october, coinbase became the first nba crypto partner um in their latest deal uh they’re, looking at other segments of the economy beyond sports there. It is as well as insurgent people interested in taking the leap um they’re, looking at uh. You know they partner with our basil and live nation that does all the concerts. How about this check this story out check this line out with the international art, bear art, basil, an entertainment promoter, live nation and and pretty funny um this week, nba legend michael jordan, also revealed his plans to launch a van engagement, app platform called air built on Solano platform will feature an air token nft asset, so pretty cool um professional athletes with their most ardent supporters.
Why did they not just say with athletic supporters? I don’t ever understand that 33.5 billion dollars worth of east trapped and largest ethereum contract. This is decently interesting. Somebody said alec baldwin, oh yeah yeah.
He killed that one um ben affleck coming to stream. Soon i think ben affleck is also in clerks. Three. I think i don’t know, maybe he’s not uh, i’m not sure. What’S going on with that, i i heard he was supposed to be.
I don’t know if he’s supposed to be in it too, i’m not sure but that’d be interesting. We were on the same movie, you know be cool, it’s just a flash, i’m just in there for a flash. I don’t get too excited. I don’t have any speaking lines so, but the largest beacon chain staking contract worth 33.5 billion, is awaiting the ethereum mainnet merger.
To unlock um, the single largest ethereum contract containing 8.6 million each worth 33.5 billion is sitting idle because it cannot be spent or sent. Contract in question is an ethereum 2
0 beacon chain staking contract launched in november 2020, and it cannot be spent without a hard fork. The beacon chain is the first step.
First key step and ethereums move from proof of work, mining consensus to a proof of work to a pos one. I’Ve always thought it’s funny: it’s called pos yep, don’t you yeah? What well i mean, aside from the obvious um derogatory acronym, that pos stands for. It also stands for point of sale yeah as well. So that’s another big acronym issues of used a lot.
So oh they’re, saying mmm crypto has an urgent video on youtube. Is that true guys? Is that urgent as an urgent video, urgent emergency alert? That would be a million view. Video if it just said emergency alert, urgent, update, bitcoin there you go.
There’S there’s your million view video i just helped y’all out. Melania trump was your own fts. I definitely heard that i i actually saw that a few minutes ago. Did you know that no that’s interesting melania trump won’t generate an empty everybody’s, got ideas for nfts, they sure do um so anyways. A lot of this is locked up on this contract, which is pretty good.
It can’t you know it can’t be spent. Uh can’t be moved while it’s waiting this, but i thought this was really interesting here. Just this sentence, it uh it’s unable to be sent or spent. It will require hard fork that hasn’t been written or specified yet um. Let’S see, timing in terms of hard forks still unknown if you’re, if you’re someone that has this money locked on this contract – and you know the history of ethereum and you understand how not a single deadline has ever been made in the history of ethereum or estimated Road map dates, they’re, always delayed, it’s always later on, which is fine.
I kind of like cardano did it’s not that big of a deal really ultimately um? But how would you feel when it says hard work hasn’t even been written or specified yet like how many years is it going to be before that’s done? You know yeah long time, long time, if ever, if ever how many people we got watching right now we have about 9 800 3800 likes all right guys. You can do when you get 5 000 likes today, yeah if you like dogs on sweaters, if you like, otis wilbur, brutus, the third. If you like dogs, go ahead and make sure to hit that like button, it really helps us out uh.
My kid asked me last night: he said what what is santa gon na bring our dogs. He came up with a perfect idea. What’S up one doge per dog one doge per day, one doge per dog, i’m gon na lock it away in a hardware wallet for the dogs, and then you know 50, 60, 70, 80 years i’ll be able to pull it all out and it’ll be worth more Than that and all the dogs will be dead, very morbid thought did you uh? Did you see the new polka dot logo we’re gon na have to make a new pillow whoa, i’m looking at that pillow back there i’m like? Oh, i guess it’s wrong now.
I didn’t know: there’s a new polka dot logo yeah. We need to change this, let’s see uh, no, that’s not it! No! That’S not the one i saw it was more see that hold on hold on is it on on the website. Oh yeah, that wow not a fan, you know why they did it.
I’M sure i know why they did it. Why too much like the pinterest logo pinterest, that’s what i thought too. It looks too much like the avengers logo. I wonder if pinterest threatened them. Why aren’t pictures started to come after?
They might have? Probably, but maybe they didn’t it’s just not good for brand recognition to have a logo that looks so close to the other one, so yeah yeah, that’s it looks like we’ve got a bunch of suction cups yeah. It reminded the when i saw it from a distance. I couldn’t see that many, it looked like only three or four of them reminded me loosely of the like re old, reduce reuse, recycle stuff, oh gosh, um, but yeah. We caught it just in time because we’re gon na do a print like a crypto print on one of these hoodies yeah, and we had the old polka dot logo on there.
We were about to get the samples and it was like. Oh, they just changed it today. Should we update it, i’m like yeah. Definitely that’s unbelievable. It is unbelievable, but i do believe it all right.
Moving on bitcoin heads are short squeeze nope. This is not no, no, no wrong! One 90 million xrb transferred by leading exchanges. As whales keep purchasing uh yeah, obviously of course they’re doing that – i mean guys you’re looking at an extended time to get xrp until this case is over. So i mean you know when you’re going through something it seems like a long time.
But you look back and you’re like it’s a short period of time, we’re going to look back, because this is the time to accumulate xrp and a lot of people are going to miss. It is incardano as well. Whale alert spreads. The word that in the past 20 hours, three major crypto exchanges have conducted several transactions: moving 89.2 million xrp tokens.
Meanwhile, crypto whales keep buying xrp on the dip. Finance has made three transfers of 12 20 15.6 million the gopax exchange in south korea uh major korean platform bit hum also moved 20 million hit btc sent 21.6 7 million to the binance crypto heavyweight. Here’S a copy of the transactions, the ripple blockchain.
I always love seeing the fidget spinner. Don’T you yeah love a good love, a good fidget. Last year, during the last week of december, the us initiated a lawsuit against ripple labs. It was the last week of december right before the new year, but it was early in december. I’M unaware of that uh.
It’S caused a major drop in the price of ripple, affiliated crypto and made several big exchanges, suspend xrp trading uh waiting for a lot of these to come back. Um. Let’S see here, xrp remains up 60 percent this year, despite sec drama uh. I want to put there was other xrp story that was um. They were moving a bunch of jay clayton made some comments on it yeah this was yesterday.
Here’S some jay clayton was the former. Now, if you don’t know who jay clayton was um, he was the boss of the sec before dirty gary gensler and jay clayton basically gave ripple the fu and flipped him the bird on his lap on his way out. He was on his way out when he brought this lawsuit, so he basically said hey you’re getting sued, also by the way peace. I’M gone, that’s what he said so is that was on christmas eve. No, is that true wow?
I don’t remember that christmas eve. Maybe so, in a recent interview on cnbc jay clayton, former sec chairman made a rare comment. Uh, albeit a short one, about the high profile ripple lawsuit that he brought against the company during his last days, uh squawk box, peggy, quick as a former government official about potential conflicts of interest. He said: look it’s america. People have the right to defend themselves.
They have the right to their opinion. He basically said nothing about it. Um refusing to make any insightful cases. He says the defendants are entitled to their opinion, says the sec. We’Re not allowed to comment on the case.
Let’S fact stand where they are um. Let’S see very interesting here: uh ripple executives have shied away from peddling and spirit theories about conflicts of interest, but garlinghouse did say the timing of the lawsuit was sketchy in a september interview. I get this question a lot. The timing stinks it’s not a good look. Uh, that’s talking about, i guess, clayton!
Look where he’s at now. He joined one river asset management. So if you guys didn’t know all of these guys all these people that come after crypto from the government as soon as they leave their post, you know where they go: crypto companies and hedge funds – that’s it tells you every tells you everything you need to know About how disgusting our system is, did you did you see pelosi talking about uh the investments? Did you see that that just happened uh? What did you say?
Basically she got asked about. There was a study showing that uh. I i want to say it was the majority of congressman or the majority of senators. I think she’s in congress right. The majority of congressmen are involved in insider training, no surprise and they asked her.
They said. Do you feel like now now, while they’re asking this question, she has a glass of water and she sips it because she knows she knows she gets this question they say: do you feel like there’s a conflict of interest there for uh? You know people in the senate and congress to be trading stocks when they have inside information. She said no, no, there’s no problem with it like it was immediate. Like she didn’t process the question she was already prepared.
No, it’s a free market. It’S a free economy. We can trade if we want to right the average great investor now, not in crypto it’s a terrible returning crypto, but the average great investor returns about 18. She does 60 regularly. You think.
That’S not insider training. You think she doesn’t know. What’S going on with the inside invo, so jay clayton crooked is the day is long dirty gary ginsler crooked is a day is long nancy pelosi i mean i ain’t going to tell you that one. You all already know that one greatest investor in history, nancy pelosi. We should have her on the channel wait if she gets into crypto.
You know what okay, what what comes first, full crypto, mainstream adoption or nancy pelosi steps down. I heard she was talking. I heard she was thinking about stepping down. I thought i heard that somewhere. So maybe that would be first.
What would you say? That’S that’s an interesting one as i i tend to think probably nancy pelosi. Stepping down, because i tend to i mean full mainstream adoption, that’s kind of a loaded question. I’M sure different people would have different opinions on what real mainstream adoption is. My opinion is it’s gon na take longer than what people think somebody said she’s done next year yeah.
I think i heard that somebody say that, and i don’t think we’ll have full mainstream adoption in the next. Her daughter is lined up to take her spot. Of course, she’s 82
That’S there’s no way. That’S right is that right. That sounds about right.
She’S up there, 81 yeah look at that wow godly 81 man that is insane still serving the public out there. Like still these public servants, you got to take your hat off to them, yeah, because if you don’t they’ll, take it anyways for the people, uh, okay, moving on here, crypto nft loans, uh nexo will soon let users borrow cash against crypto, bunks, board, apes and fts. Now i actually heard a lot of projects talking about this. I remember. While we were gaming, yeah a lot of nft liquidity loans against your nft type project.
It’S interesting yeah, i don’t know nexo’s customers will soon be able to borrow digital assets using board apes and crypto punks and fts as collateral um crypto lender hate. This thing that pops up crypto lender nexo, is teaming up with three arrows capital. Now, if you didn’t know this three arrows capital is the company that uh was behind that gigantic avalanche investment of 230 million dollars, uh they’re going to be launching a new crypto credit service, backed by valuable non-fungible token items is next to a coin too. Nexo has a coin like celsius right. I believe they do.
Yes, i tell you. I would be very interested in uh buying some of that right now, three arrows capital is getting involved. You know that should tell you something. Next, at ft, lending desk will begin accepting board a yacht club and crypto punks and ft collections, but more collections to be announced in the coming weeks describing this new initiative as a definitive move towards providing financial instruments and web 3
0 native metaphy medify nexo, co-founder antoni trenchev, also said that nft’s potential reaches far beyond art, encompassing ownership, exclusive asset access functions and features. By the way, did you see um?
Do you know the designer company hermes, hermes, yeah, hermes yeah? You know they’re the ones that make that birken bag yeah. I didn’t know that i discovered i discovered that because um they they’re suing a company called meta birkin and so we’re gon na see all kinds of weird intellectual property. Oh yeah, you know that is gon na, be so fascinating to watch. You know how a lot of these lawsuits turn out.
Yeah i used to all in on lawsuits yeah. My ex that was her life dream was to have a hermes birkin bag. That’S the only reason i know what it is. Was it yeah man? That’S so sad that she left you because you couldn’t get one yeah and you could get one today yeah.
Well, hey! That’S what you can buy one today. That’S what happens in crypto. I guess right, you might, you might buy me one just for fun, they might hey. You never know.
I would love it. Yeah you’d rock a purse huh! No! No! No!
No! I would not rock her. I have a hard time holding my wife’s purse if she goes and she’s like hold my purse, i’m like, is there a ledge or something i mean you know, i could only think of a small handful of times where i’ve been in a spot where i had To hold it, and it was very, very short timing, really it makes it that uncomfortable it does. I just don’t like it. I don’t like it.
I don’t know why. I don’t know what it is. I mean it’s not like. I’M holding a person. I think people are gon na think it’s my purse right.
Is there the thing i was just you know, you know, look stereotypes i just want to hold a purse, don’t hold one. Is that my preference yeah? What reference? I don’t want old purse. I’M sorry!
I love my wife a lot and if it’s in a real bad pinch, i can hold it for a moment. I’M always going to look for a place to dump it off, but hey. If it’s a birken bag, i might hold it for a second. You know, wait hold it for a minute, maybe if it’s a birken bag, you’ll hold it for a second. Well i mean i might hold it.
You know for 35 or 38 minutes, you know whatever it takes. If it’s a burger, i don’t know what a burger bag looks like by the way. I have no clue just not just a bag, it’s nothing crazy. Just a bag, yeah burger would look. You would look at it and think it looks like most purses.
Is there not like a tick tock trend? That’S like twerking for birkin. No, maybe we should start that you should start it today. Yeah the first bit boy dancing. Video is twerking for a birken yeah.
I got. I got a lot of tick. Tock dance moves. I can do it if i was pressed for it, but um. Okay, all right look!
I got. I got my my guy here, mack lesowski, he says same thing. I don’t like it. I love my wife i’ll hold the door for her i’ll. Do anything she wants.
A lover’s great, but it’s it’s my one no-go it’s only holding a purse. I don’t mind it’s a satchel satchel, that’s from a hangover. Now tj, you asked me to hold your satchel. I would probably i’d consider it. You would oblige.
I would oblige i’d hold your satchel. Thank you. I appreciate nothing like a good satchel. That’S right, bitcoin holds steady, is boe hikes, interest rate ecb to reduce crisis error stimulus. You know.
What’S so funny is, i won’t hold a purse, but i will make that joke. Yeah, that’s that’s! That’S it right there in a nutshell, no pun intended! That’S it got him, got him uh! It’S a digital interest is prevalent in whales, are buying bitcoin during this correction.
One analyst said. So. Here’S really what we want to talk about, though the boe. That’S the bank of england they’re hiking their interest rate, the ecb, that’s the european central bank, christine lagarde in charge of that. Now you formerly of the imf, they’re reducing crisis era stimulus.
What is this telling you we’re? Moving away from the pandemic, we’re moving away from the chaos that that caused still having supply chain problems, a lot of problems, but we’re preparing for the future without having to deal with this thing on, you know, for on a daily basis, um there will certainly still Be people that want to deal with it on a daily basis for sure um. I think it’s very interesting. There are people that, like literally, want this to continue, which blows my mind, but i’ve seen people defending it like no. No, this has to be the way it is for all sicknesses going forward and stuff.
No, no, i i don’t think that’s what we’re gon na see. I think we are gon na turn the page and we’ll look back at this as a very painful time in history. For you know all sorts of reasons, but um the government and the economies are moving forward without this being a primary concern, and we can tell this by the things that they’re doing they’re easing up on the stimulus across the world. The bank of england is already hiking interest rates. That is a sure sign that in march we are probably doing the same thing.
Um so we’ll see what happens. Uh bitcoin was trading. Bitcoin was trading little changed. It’S a weird way to say that after the bank of england delivered a surprise interest rate hike and the ecb announced an end to the crisis era, asset purchase program, uh, the boe monetary policy committee, uh voted 8-1 to increase the bank rate to point two: five Percent by nine to zero to maintain the amount of quantitative easing at 895 billion, so that was unchanged. The quantity of easing for the bank of england was unchanged.
So that’s that’s pretty bullish here in the short term, uh central bank expected to keep the exchange uh or the rate unchanged at a record. Low 0.1 percent. Surprise increase challenges, the narrative that central banks prefer to raise interest rates only after the end of quantitative, easing or asset purchase programs. While the ecb european central bank got key policy tools, uh unchanged, it’s an odd question.
Yes, uh, it announced an end of net asset buying under the pandemic. Emergency purchase program or yeah purchase program program is the word. That’S spelled weird there um british, however, the 17 nation central bank did a balancing act by committing to boost an older asset purchase program to 45 billion dollars. Let’S see here so there you go, so that’s what’s going on so around the world, they’re not doing what the united states just did at our fed meeting they’re speeding things up around the world which good indicator i think of uh. What we’re gon na see was that that comment was that retracted, yeah.
I wonder if he meant silica he’s. Oh then he removed it. Then he removed it yeah. We love zillow, yeah zillow, looking for properties on there, they’re always gone by the time you find them on there. Well, they are actually, you know, like well-positioned company when it comes to real estate data, they absorb another big one called.
Truly, i mean they actually as a business. They can mine. True, they aren’t that they absorbed them a while ago, yeah so they’re strong. You know they’ve got a lot of uh b2b value for sure. Oh, so it still is its own independent site, but it owns, but okay yeah.
That makes sense interesting. So all right guys well uh, we’ll see what happens tomorrow is going to be a a very interesting day. I think uh we’re definitely going to be making to to look at some uh some trades tomorrow. I’M definitely going to pick which position i feel like it’s going to go in after this future’s closed in the morning, and that should give us with uh. You know several several days of good trading i mean is next week is not the end of the month.
For futures trading that would be the week after right, yep yep, the 31st is actually a friday. 31St is a friday. So very interesting, we’ll see, i wonder what those yearly positions look like. I wonder: we’ll have a yearly futures movement on that day. A lot of people you know believe december 30th is going to be a very interesting day, so we got a full moon this weekend, yeah because because they’re closed on they’re closed on um new year’s eve right, probably because new year’s day is on a weekend, they Probably go ahead even if they were gon na be.
I bet it’s closed on that friday yeah. Can we look that up real quick? Are markets open on on december 30 december 31?
Um, when the stock market’s closed, even though new year’s day falls on saturday, they will be open, regular hours on that friday. So, okay, they will be open, regular hours on that friday, even though new year’s day falls on saturday.
So very interesting, so we’ll have to keep an eye on that all right guys. That’S all we got for today, um, you know we got ta work. Christmas party tonight excited about that um and we’re gon na be handing the money out for the recipients of our secret santa stuff uh tomorrow. So i got be blessed.