WEBVTT

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<v Speaker 1>So they can't let that happen. And while the printing

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<v Speaker 1>is bad, they're not what would they rather have keep

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<v Speaker 1>printing and and and make sure things are not going

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<v Speaker 1>apocalypse level or let it crash and then the whole

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<v Speaker 1>world burns down.

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<v Speaker 2>Yeah, I mean, and that's it's kind of like, you know, scary,

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<v Speaker 2>But at the same time, it's like this is kind

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<v Speaker 2>of just the realistic, you know, view of what you know,

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<v Speaker 2>what we kind of what we're in. They have to

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<v Speaker 2>continue to kick this can down until they can't anymore.

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<v Speaker 1>This content is brought to you by v chain, which

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<v Speaker 1>is a leading enterprise grade Layer one public blockchain spearheading

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<v Speaker 1>a digital revolution from a sustainable, highly scalable smart contract platform.

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<v Speaker 1>The v chain blockchain has many unique features, which makes

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<v Speaker 1>it an ideal choice for Web three applications. V chain

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<v Speaker 1>von Chi, BMW, and Walmart China. Most recently, they partnered

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<v Speaker 1>with the Boston Consulting Group to build a revolutionary decentralized

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<v Speaker 1>application ecosystem. I'm a big believer in this project. I

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<v Speaker 1>have been since twenty eighteen. I've been a VET token

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<v Speaker 1>holder for years, and this blockchain is highly scalable, great

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<v Speaker 1>with security and speed, and it has low energy consumption.

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<v Speaker 1>If you'd like to learn more about v chain, please

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<v Speaker 1>visit vchain dot org. Link will be in a description.

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<v Speaker 1>Welcome into the Thinking Crypto podcast Crypto water Cooler Series,

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<v Speaker 1>Episode sixteen. It's been a while since we've done this, David,

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<v Speaker 1>but everyone, I have David, who's the co host of

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<v Speaker 1>the next block YouTube channel with me.

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<v Speaker 2>Hey, how's it going with Tony good Man?

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<v Speaker 1>Seems the market starting to turn a bit. We're starting

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<v Speaker 1>to see some upside after this FED rate cut. Yeah.

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<v Speaker 2>I mean, you know, I've seen so much talk right

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<v Speaker 2>now recently with the FED rate cuts and obviously, you know,

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<v Speaker 2>we knew, we expected that there would be I'm pretty

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<v Speaker 2>sure how has said you know that there was expected

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<v Speaker 2>to be some rate cuts in twenty twenty four. Some

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<v Speaker 2>people were thinking, no, they're gonna wait till twenty twenty five,

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<v Speaker 2>and you know, really it's it's kind of a mixed

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<v Speaker 2>bag on you know, what's gonna happen, you know with

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<v Speaker 2>these uh, you know, rate cuts, and as big as

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<v Speaker 2>they've been, most of the posts I've seen have highlighted that,

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<v Speaker 2>you know, the past few times we've seen. These rate

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<v Speaker 2>cuts have been obviously at the tops of some pretty

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<v Speaker 2>big bubbles, right the two thousand and one you know,

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<v Speaker 2>two thousand dot com bubble, the Wait financial crisis. Uh

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<v Speaker 2>and so there's a lot of fear and uncertainty around that,

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<v Speaker 2>and then you know, with the macro stage. But I've

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<v Speaker 2>also seen some posts if you zoom out right and

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<v Speaker 2>you go back even further, that not all of these

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<v Speaker 2>uh you know, fed or when the FED decides to

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<v Speaker 2>cut rates after you know, having you know, hiked them,

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<v Speaker 2>you know, five or so consecutive times in a row.

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<v Speaker 2>It's not always down only right or or you know,

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<v Speaker 2>meaning that the recession is here. So I think that's

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<v Speaker 2>something to keep in mind, is you really can't just

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<v Speaker 2>take you know, this one single incident and say, Okay,

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<v Speaker 2>recessions coming, you know, I need to sail run for

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<v Speaker 2>the hills, because you know, there's a lot of other

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<v Speaker 2>factors that are going to kind of tie into you know,

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<v Speaker 2>where we go from here. And it does seem like

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<v Speaker 2>Bitcoin is rebounding and you know, acting nice, you know,

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<v Speaker 2>with the you know, recent cuts, it's obviously sitting in

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<v Speaker 2>a very uh you know, interesting spot as far as

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<v Speaker 2>certain indicators that I follow. Definitely seems like it could

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<v Speaker 2>you know, retrace some, but it also could be nearing

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<v Speaker 2>a breakout where we start to see it, you know,

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<v Speaker 2>pump into new all time highs. What are your thoughts

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<v Speaker 2>with the with the recent cuts.

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<v Speaker 1>Yeah, you brought up some great points, and that is

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<v Speaker 1>everyone is maybe because it's burned in our minds because

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<v Speaker 1>it's traumatic, you know, milestones in the market that took

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<v Speaker 1>place two thousand and one, two thousand and seven. But I

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<v Speaker 1>keep telling people like, it doesn't mean that we're automatically

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<v Speaker 1>just going to crash, especially factors different. There's no mortgage bubble,

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<v Speaker 1>in real estate bubble right and right now. In fact,

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<v Speaker 1>the housing market is almost dead because no one's selling

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<v Speaker 1>and in two thousand and one. I don't think it's

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<v Speaker 1>the same as well, you know, we're not in this. Yes,

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<v Speaker 1>you can argue it as an AI bubble, so to speak,

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<v Speaker 1>but I don't think it's as big as the dot

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<v Speaker 1>com bubble at all that that was, you know significant.

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<v Speaker 1>I think AI bubble may go for a few more

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<v Speaker 1>years before do you see some sort of major pullback.

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<v Speaker 1>One could argue that the Japanese yen carry trade situation.

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<v Speaker 1>That crash that took place in early August is almost

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<v Speaker 1>the pricing in of these ray cuts, right if you

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<v Speaker 1>want to say there's going to be some volatility, And

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<v Speaker 1>then September historically it has been a red month for

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<v Speaker 1>the stock market in crypto, So I think come Q four,

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<v Speaker 1>we're gonna see some movement. And I think the short term,

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<v Speaker 1>if you get too blinded by the short term, you're

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<v Speaker 1>gonna miss the macro because I think we're starting the

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<v Speaker 1>next boom cycle. They're coming out of quantitative tightening, the

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<v Speaker 1>cutting rates. What they're going to have to do print

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<v Speaker 1>money to service a debt. Right that is that is

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<v Speaker 1>not an if, That is just a when you know,

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<v Speaker 1>maybe they start qey two months from now and global

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<v Speaker 1>M two is breaking out. So I think bitcoin and

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<v Speaker 1>crypto and the stock market are all going to rally

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<v Speaker 1>off of this. Yeah.

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<v Speaker 2>And I will say if you look at bitcoin's history,

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<v Speaker 2>when September has been a green month and it's so

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<v Speaker 2>so far has still been a decent month with you know,

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<v Speaker 2>this recent pop back up, when it has ended green, October, November,

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<v Speaker 2>December have all been really you know, good for bitcoin

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<v Speaker 2>price action, and so not to say that if it,

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<v Speaker 2>you know, does somehow go red that it dooms you know,

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<v Speaker 2>it's all going to you know, come falling down. But

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<v Speaker 2>I still remain pretty optimistic as well. You know, you

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<v Speaker 2>still have elections. There's still many things that could cause

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<v Speaker 2>uncertainty and the price of bitcoin to fluctuate, but to

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<v Speaker 2>fluctuate in a good, uh you know position as well.

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<v Speaker 2>And you kind of mentioned this and I'd be interested,

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<v Speaker 2>you know, I know you've interviewed a lot of people,

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<v Speaker 2>uh you know who talk about you know, financial you know, uh,

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<v Speaker 2>you know, turmoil and stuff like the O eight and

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<v Speaker 2>oh you know two thousand crash. You know those had

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<v Speaker 2>lynch pins, right, you know you said it was internet,

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<v Speaker 2>but you know, Internet kind of just was just blowing

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<v Speaker 2>up so crazy, kind of like AI has been. And

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<v Speaker 2>then O Way obviously was the housing that's what you

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<v Speaker 2>know caused the cascade. What do you think is actually

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<v Speaker 2>going to be the lynch pin? I guess you could

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<v Speaker 2>say for this unwine, because that's the thing I've been

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<v Speaker 2>trying to find out, like or trying to figure out,

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<v Speaker 2>and I'm you know, it's it's probably gonna be a

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<v Speaker 2>lot harder, and it's probably maybe it's gonna be more

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<v Speaker 2>confusing than some may think. But you know, there really

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<v Speaker 2>isn't like right now anything. I feel like that's a

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<v Speaker 2>super big bubble outside of you could say the debt

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<v Speaker 2>right that, you know, the US is in and and

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<v Speaker 2>and just the things that are fed is doing. But

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<v Speaker 2>the economy still seems somewhat resilient.

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<v Speaker 1>You know.

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<v Speaker 2>It's you know, people are dealing with higher you know,

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<v Speaker 2>prices on things, but they're still making it right. I mean,

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<v Speaker 2>you're seeing the cracks, you know, start to show up,

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<v Speaker 2>I feel like with credit card debt and just people

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<v Speaker 2>not having as much in savings. So like there's things

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<v Speaker 2>that could you know, you know, that will show themselves,

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<v Speaker 2>but like there's usually always that lynch pin that falls

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<v Speaker 2>out that hey, this is what caused the cascade of everything.

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<v Speaker 2>You know, Oh wait was Leman Brothers and stuff?

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<v Speaker 1>You know? You have?

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<v Speaker 2>What do you think? You know? What are your thoughts there?

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<v Speaker 2>So I think I.

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<v Speaker 1>Shared a chart the other day on Twitter if I'm

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<v Speaker 1>not mistaken, and I could be wrong on here, but

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<v Speaker 1>there were times in the past where rate cuts didn't

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<v Speaker 1>trigger a crash, but instead of bull market. I think

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<v Speaker 1>it was nineteen ninety five in nineteen eighty seven. After

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<v Speaker 1>that crash, they cut rights and end the market's ripped.

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<v Speaker 1>So it's it's hard to predict these things. But to

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<v Speaker 1>your point, there's no major catalysts here. I was thinking

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<v Speaker 1>maybe about a year ago, the commercial real estates in

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<v Speaker 1>there because no one was going to offices. Companies left

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<v Speaker 1>and so forth, a lot of people virtual. But I

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<v Speaker 1>see a lot more companies are sending people to the

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<v Speaker 1>office now. And I'm not sure, but I think the

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<v Speaker 1>government did a some sort of forbearings or something like

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<v Speaker 1>that right to help out, if I'm not mistaken. So

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<v Speaker 1>I thought that was going to be a catalyst that

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<v Speaker 1>drove was down. But David, what's fascinating, man, is I

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<v Speaker 1>think since two thousand and eight, we're seeing the federal

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<v Speaker 1>government step in and they're printing money and janet yelling,

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<v Speaker 1>and the Treasury, well, I should say the Treasury are

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<v Speaker 1>injecting liquidity to save things. An example in twenty twenty three,

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<v Speaker 1>why didn't the collapse of those banks drop us like

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<v Speaker 1>that should have been another like two thousand and eight ish.

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<v Speaker 1>I'm not saying not not a severe, but why didn't

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<v Speaker 1>affect the economy and the markets? They stepped in and.

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<v Speaker 2>I'll say this, they're stepping in faster, right Like it

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<v Speaker 2>used to be like they would let things kind of

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<v Speaker 2>like crash and see and like just let something die,

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<v Speaker 2>you know, and then kind of come in, you know,

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<v Speaker 2>sitting you know, a few three six months later and like, okay,

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<v Speaker 2>here's how we fix it. But like even with COVID, right,

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<v Speaker 2>you saw immediately they were like, okay, nope, if we're

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<v Speaker 2>going to try everything thing down, we're going to make

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<v Speaker 2>sure that we're sending out checks like you know, like

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<v Speaker 2>the printer gets. And that's what I'm saying with QE

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<v Speaker 2>now on the horizon. It's like, even if there is

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<v Speaker 2>this maybe lynchpin type thing that happens that might cost

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<v Speaker 2>some you know, fear in the market for a week,

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<v Speaker 2>two weeks and whatnot, it's like, we know that the

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<v Speaker 2>government feels confident, or at least the Fed feels pretty confident.

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<v Speaker 2>You just print tons of money to bail out whoever

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<v Speaker 2>or whatever is needed to keep the market going. And

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<v Speaker 2>and I agree, it's like when you zoom out and

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<v Speaker 2>you look at the like S and P or uh

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<v Speaker 2>you know, Nasdaq, and you look at you know, over

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<v Speaker 2>a long, long, long period time, talking like fifty sixty

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<v Speaker 2>seventy years. It's like, we the chart doesn't really look

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<v Speaker 2>like it's at a blowof top yet, and it does

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<v Speaker 2>seem like, you know, this could still just be one

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<v Speaker 2>of those times where the rates you know, start getting cut,

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<v Speaker 2>but there's still a bull market left to go, and

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<v Speaker 2>a lengthy one at that, so it could go in,

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<v Speaker 2>you know, pretty far into twenty twenty five. And it's

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<v Speaker 2>funny because one of the co hosts I used to

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<v Speaker 2>have on our show, the next Block. I'm trying to

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<v Speaker 2>think of his name now I'm blanking on it. Shoot,

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<v Speaker 2>I can't remember anyways, but he would always highlight how

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<v Speaker 2>you know, he had a chart that it showed the

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<v Speaker 2>bull run topping out for bitcoin in November of twenty

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<v Speaker 2>twenty five, and of course this is back in like

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<v Speaker 2>twenty twenty two, twenty twenty three. It was a jt.

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<v Speaker 2>He was, you know, saying a lot of this, and

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<v Speaker 2>I was like, no, there's no way it's going to

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<v Speaker 2>be that far away. But now it's like it's it

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<v Speaker 2>could literally line up between and be late this, you know,

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<v Speaker 2>coming next year where we see bitcoin really blow off

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<v Speaker 2>and have it have its big run. But obviously it

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<v Speaker 2>could happen sooner.

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<v Speaker 1>You know.

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<v Speaker 2>I don't have a crystal ball, but it's definitely seeming

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<v Speaker 2>like twenty twenty five is going to be a fun

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<v Speaker 2>year for sure.

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<v Speaker 1>Yeah, and the macro is setting up for that. The

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<v Speaker 1>money printing, the ray cuts, global M two. I've been

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<v Speaker 1>sharing throughout the year, and not a lot of people

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<v Speaker 1>pay attention to these things, but like China injecting liquidity

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<v Speaker 1>into their markets, this country, the EU doing things and

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<v Speaker 1>they've already they started cutting rates ahead of the FED.

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<v Speaker 1>So it's fascinating, man. And I was the other day.

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<v Speaker 1>I was tweeting, I think the blockchain back there, and

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<v Speaker 1>I was selling him like the Fed and Janet Yellen

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<v Speaker 1>are stepping in. And part of it is all of

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<v Speaker 1>the boomers. The majority of their wealth is in the

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<v Speaker 1>stock market. So if you let that thing crash to

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<v Speaker 1>depression levels, what do you think is going to happen?

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<v Speaker 1>People are going to be killing each other in the streets,

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<v Speaker 1>Like money market funds are gonna dry up, You're gonna

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<v Speaker 1>go to the bank. There's not gonna be cash. You're

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<v Speaker 1>gonna have bank runs like crazy. So they can't let

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<v Speaker 1>that happen. And while the printing is bad, they're not.

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<v Speaker 1>What would they rather have keep printing and make sure

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<v Speaker 1>things are not going apocalypse level or let it crash

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<v Speaker 1>and then the whole world burns down.

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<v Speaker 2>Yeah, I mean, and that's it's like, you know, it's scary,

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<v Speaker 2>but at the same time, it's like this is kind

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<v Speaker 2>of just the realistic, you know, view of what you know,

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<v Speaker 2>what we kind of what we're in. They have to

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<v Speaker 2>continue to kick this can down until they can't anymore.

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<v Speaker 2>And I don't, like I say, I don't know what

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<v Speaker 2>that lynch pin will be when they actually stop. I

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<v Speaker 2>know a lot of people think that there just needs

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<v Speaker 2>to be a complete, you know overhaul with you know,

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<v Speaker 2>on how we look at monetary policy. Maybe bitcoin is

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<v Speaker 2>a solution to that. Maybe some other crypto that's yet

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<v Speaker 2>to be created as a solution to that. I don't know,

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<v Speaker 2>but yeah, it definitely is. You know, they're not going

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<v Speaker 2>to just roll over. They're going to continue doing what

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<v Speaker 2>they're doing because they when they benefit from it. But

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<v Speaker 2>you know, there that's it's they're backed into a corner

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<v Speaker 2>to do the only thing they can do. And that's

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<v Speaker 2>and that's why we're seeing this next part of the cycle.

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<v Speaker 2>And it'll be like I said, it'll be interesting to

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<v Speaker 2>see what comes out of this election and what the

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<v Speaker 2>whoever the winner is, whether it's Kamala Harris or Donald Trump,

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<v Speaker 2>you know what they choose to do. Uh, you know,

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<v Speaker 2>as far as monetary policy, but I would not be

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<v Speaker 2>shocked to see more q E and you know, an

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<v Speaker 2>easy time, you know, easy money come. You know, you

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<v Speaker 2>know both presidents would want that for their first year.

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<v Speaker 1>I know. People, Look, we're in a very hyper politicized

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<v Speaker 1>time right the election's coming up. I see the comments,

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<v Speaker 1>I see the trigger comments, and it's like, who man,

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<v Speaker 1>I can't wait for this to be over. Let's be clear,

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<v Speaker 1>Donald Trump is the pro crypto, can it. He's the

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<v Speaker 1>one that has put its foot down, provided policy and

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<v Speaker 1>so forth. I don't know where the hell Kamlahara stans

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<v Speaker 1>we have it on the topic list here to talk

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<v Speaker 1>about that. She said something yesterday to Wall Street. But

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<v Speaker 1>at end of the day, I see no action. But

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<v Speaker 1>with that aside, no matter if a Democrat Republican goes in,

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<v Speaker 1>the money printer has to keep going because the music

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<v Speaker 1>has to keep going. If the music stops, David, people

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<v Speaker 1>are going to beach out up in the streets, because

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<v Speaker 1>if they lose confidence in the money, if they see

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<v Speaker 1>all their assets crashed down and they're like, what happened

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<v Speaker 1>to my retirement, right, it's going to be nuts.

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<v Speaker 2>So they and especially you know, this new generation, right,

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<v Speaker 2>I mean, I know, I guess you could say we're

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<v Speaker 2>used to getting rugged, like, you know, way faster than

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<v Speaker 2>previous generations. But it still affects people and and and

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<v Speaker 2>most of them still are excited because they realize, oh, well,

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<v Speaker 2>it's just down for a few months and then we're

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<v Speaker 2>going to come back up. But they've never been through

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<v Speaker 2>a real crash. That's what could be scary, and that's

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<v Speaker 2>what I think they want to protect against. But to

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<v Speaker 2>talk about the you know, Kamala versus Trump, who's more

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<v Speaker 2>pro crypto? Who would be better for crypto? I ultimately

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<v Speaker 2>think this right, both candidates, And I feel like I

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<v Speaker 2>leaned fairly in the middle, probably more conservative than liberal

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<v Speaker 2>and certain you know, you know, political views. But as

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<v Speaker 2>far as looking at the candidates, right, I don't care.

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<v Speaker 2>Both of them are going to say whatever they're going

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<v Speaker 2>to say.

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<v Speaker 1>That politicians exactly.

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<v Speaker 2>But at the end of the day, I think, Okay,

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<v Speaker 2>who's actually going to change something? If they were to

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<v Speaker 2>get elected, right, And here's where I lean more to.

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<v Speaker 2>It's Trump not saying that he's a better person or

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<v Speaker 2>anything like that, just looking at for crypto, like pro legislation,

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<v Speaker 2>pro crypto movement. I've already I've heard Kamala Harris and

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<v Speaker 2>I've seen rumors that if she were to win, not

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<v Speaker 2>only would you know, there's a good chance that other

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<v Speaker 2>people like Warren would get you know, ossily he could

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<v Speaker 2>win in that scenario and there could be them two

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<v Speaker 2>running it. But she's also mentioned that she likes Ginsler right,

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<v Speaker 2>or that you know, she would put Gensler and Ginsler

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<v Speaker 2>maybe even into a better position. And it's like, we

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<v Speaker 2>know he doesn't like crypto and he's not pro crypto,

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<v Speaker 2>even though he's you know, kind of started out thinking,

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<v Speaker 2>you know, we thought when he got elected it would

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<v Speaker 2>be good for it. But you know, Trump, I feel

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<v Speaker 2>like if he won, he would change he said it.

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<v Speaker 2>I'm pretty sure sure he's already said he would fire Ginsler, right,

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<v Speaker 2>someone else. And then maybe if Deaton could beat Warren

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<v Speaker 2>and you have a Trump, you know getting in, you

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<v Speaker 2>don't have to worry about Elizabeth Warren. You get a

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<v Speaker 2>new sec Commissioner, like, there are so many things that

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<v Speaker 2>I feel like with that change would be positive for

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<v Speaker 2>I really just don't know if Kamala wins, is she

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<v Speaker 2>going to you know, change anything with Ginsler or is

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<v Speaker 2>it just going to be the same thing we've seen

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<v Speaker 2>where every single time change gets put forward, it just

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<v Speaker 2>gets a big red ax from either Ginsler, it could

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<v Speaker 2>be Harris Warren and her goonies, you know, and all

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<v Speaker 2>the other people who are just anti crypto. So that's

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<v Speaker 2>where I feel like, if you're someone in crypto land

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<v Speaker 2>and you're and you want to see change, you have

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<v Speaker 2>to get new people in with new ideas, hopefully younger

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<v Speaker 2>people with younger ideas that actually want to see some

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<v Speaker 2>of these de five platforms contend with some of the

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<v Speaker 2>big banks and some of the you know stuff that

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<v Speaker 2>we're seeing out there. But that's more or less what

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<v Speaker 2>I see and is partly why I would like to

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<v Speaker 2>see a Trump victory, because I do think he would

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<v Speaker 2>bring in some new skin that could possibly get more

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<v Speaker 2>change done on the side of crypto. I know he

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<v Speaker 2>said he wants to, you know, make the United States

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<v Speaker 2>the crypto capital of the world. We're going to hold

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<v Speaker 2>the most bitcoin and all these things. Like I said, though,

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<v Speaker 2>that's a lot of that's just talk. I don't really

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<v Speaker 2>you know, there's no there's no guarantee. You didn't have

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<v Speaker 2>a concrete plan on how he's going to do it.

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<v Speaker 2>But I do think he would follow through with getting

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<v Speaker 2>rid of Ginsler and hopefully getting in some more pro

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<v Speaker 2>crypto people into the scene.

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<v Speaker 1>Yeah, and I agree with you. Like you, I'm more

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<v Speaker 1>of an independent and uh, you know, there's certain things

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<v Speaker 1>I I agree with conservatives on, and there's certain things

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<v Speaker 1>I agree with progressives or even want to democrats or

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<v Speaker 1>whatever you want to call him. But Donald Trump is

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<v Speaker 1>the clear leader here. And I wrote a newsletter this

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<v Speaker 1>morning about this. I'm not giving Kamala Harris the benefit

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<v Speaker 1>of the doubt because you're currently in office with Biden

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<v Speaker 1>and this nonsense is happening under your watch. So yeah,

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<v Speaker 1>talk is cheap. I need to see action, you see policy.

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<v Speaker 1>I need to see words coming out that we're going

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<v Speaker 1>to make a big change of the sec well less things.

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<v Speaker 1>Those words come out of your mouth and it's on

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<v Speaker 1>paper as well. Nobody, I'm not believing you. And it's

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<v Speaker 1>it's kind of be yes, And I know, like a

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<v Speaker 1>lot of Democrats, to their credit, have partnered with the

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<v Speaker 1>Republicans to pass like the FIT twenty one bill out

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<v Speaker 1>of the House. I give them a lot of credit

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<v Speaker 1>for that. They tried to repeal ASAB one two one.

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<v Speaker 1>I saw Chuck Schumer obviously a big departure from Elizabeth

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<v Speaker 1>Warren saying he's ready to work with Republicans to pass stuff.

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<v Speaker 1>So that's really good. The issue is, though to what

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<v Speaker 1>you're saying, whoever gets in office one is ready to

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<v Speaker 1>maybe sign the crypto legislation bill, which is Trump Kamlin

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<v Speaker 1>hars I don't know. She could say no, I don't care,

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<v Speaker 1>right because he has not made any type of clear stance.

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<v Speaker 1>There's no policy, so right now it's all fugezy, is

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<v Speaker 1>just whatever.

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<v Speaker 2>Yeah, And that's you know, it kind of sucks, but

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<v Speaker 2>you know, and the same time, it's like, this is

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<v Speaker 2>what drives markets wild, right, is uncertainty. And this is

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<v Speaker 2>why I think you could see leading into the elections,

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<v Speaker 2>bitcoins start to take off and become a focal point

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<v Speaker 2>because as both of these candidate, it's want to gain

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<v Speaker 2>traction from the crypto communities. You know, they're going to

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<v Speaker 2>want to, you know, make certain moves and say certain

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<v Speaker 2>things to get people excited about the space. And honestly,

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<v Speaker 2>it's why I wouldn't be surprised if we saw a

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<v Speaker 2>run up right in October. October, if some people want

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<v Speaker 2>to call it for bitcoin, and end of November where

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<v Speaker 2>Bitcoin just does finally break out go to new all

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<v Speaker 2>time highs, maybe we see an alt rally, But I

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<v Speaker 2>would be a little hesitant on thinking that that rally

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<v Speaker 2>would just continue into the spring of next year. I

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<v Speaker 2>wouldn't be surprised if we did see whoever wins. Maybe

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<v Speaker 2>then there's a lull right as that transfer or power

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<v Speaker 2>happens and we don't really have a lot of activity.

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<v Speaker 2>Maybe it's just still like wondering what's going to happen,

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<v Speaker 2>and then maybe it ramps back up in you know,

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<v Speaker 2>early twenty twenty five to maybe mid late you know,

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<v Speaker 2>something like that.

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<v Speaker 1>So, David, are you thinking we see the top in

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<v Speaker 1>late twenty twenty five or early twenty twenty five.

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<v Speaker 2>I mean, at this point, like I guess, it really

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<v Speaker 2>just depends on who gets elected and what we see

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<v Speaker 2>from that. I feel like if Trump were to get elected,

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<v Speaker 2>I would not be I wouldn't be surprised to see

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<v Speaker 2>an early kind of blow off top maybe early. I

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<v Speaker 2>feel like if it is Kamala, it could be something

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<v Speaker 2>that kind of takes a little bit longer, just because

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<v Speaker 2>there's just so much uncertainty, you don't know, and it

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<v Speaker 2>might not come as much as maybe we want it

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<v Speaker 2>right because we don't know what regulation we look like

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<v Speaker 2>if Ginsler gets what he wants, I mean, you know,

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<v Speaker 2>there's really a lot of uncertainty there. But I do

417
00:20:30.240 --> 00:20:32.680
<v Speaker 2>think that if Trump wins and we get a new

418
00:20:32.799 --> 00:20:36.200
<v Speaker 2>SEC commissioner and it's someone who's pro crypto, and obviously

419
00:20:36.440 --> 00:20:38.480
<v Speaker 2>as if Trump follows through with a lot of the

420
00:20:38.519 --> 00:20:41.640
<v Speaker 2>pro crypto things and pro bitcoin things he said, I mean,

421
00:20:41.680 --> 00:20:44.279
<v Speaker 2>twenty twenty five could be just a massive year for

422
00:20:44.359 --> 00:20:47.039
<v Speaker 2>bitcoin and it could come very fast as we've seen,

423
00:20:47.480 --> 00:20:50.599
<v Speaker 2>you know, these impulses right when when bitcoin does break out,

424
00:20:50.599 --> 00:20:52.960
<v Speaker 2>because it's still just consoliding, like you zum out on

425
00:20:53.039 --> 00:20:55.839
<v Speaker 2>bitcoin for the last six months, it's literally been just

426
00:20:56.400 --> 00:21:00.240
<v Speaker 2>chopping between sixty and seventy you know K. But it

427
00:21:00.279 --> 00:21:02.359
<v Speaker 2>breaks out, I mean, it takes a week, two weeks,

428
00:21:02.440 --> 00:21:04.440
<v Speaker 2>three weeks, and it could go to one hundred hundred

429
00:21:04.440 --> 00:21:06.599
<v Speaker 2>and twenty K. So that's what you have to be

430
00:21:06.680 --> 00:21:08.920
<v Speaker 2>ready for if you're in crypto and you're holding these

431
00:21:08.920 --> 00:21:12.640
<v Speaker 2>things is it doesn't take long for these things to happen.

432
00:21:12.720 --> 00:21:14.839
<v Speaker 2>And I think that's what catches so many people off

433
00:21:14.880 --> 00:21:18.400
<v Speaker 2>guard is by the time it does finally pop two

434
00:21:18.440 --> 00:21:20.880
<v Speaker 2>three weeks later, they think, oh my gosh, it's here,

435
00:21:20.920 --> 00:21:23.599
<v Speaker 2>and it's like that's it, Like, you know, that's the

436
00:21:23.640 --> 00:21:26.720
<v Speaker 2>big meat of the move. Take the profits, sit back,

437
00:21:26.799 --> 00:21:28.720
<v Speaker 2>wait because it can also do another one of those

438
00:21:28.720 --> 00:21:32.119
<v Speaker 2>consolidation phases. And you know, money can move out.

439
00:21:32.720 --> 00:21:35.640
<v Speaker 1>Yeah, to your point, it can move really fast. And

440
00:21:35.680 --> 00:21:38.480
<v Speaker 1>this is why, like we've said in previous episodes, have

441
00:21:38.519 --> 00:21:42.279
<v Speaker 1>a plan, Like if you're pashing out some bitcoin at whatever,

442
00:21:42.319 --> 00:21:46.519
<v Speaker 1>one hundred thousand, stick to that plan. Yeah, versus, oh man,

443
00:21:46.559 --> 00:21:48.279
<v Speaker 1>it moved really fast. It means it's going to go

444
00:21:48.519 --> 00:21:53.039
<v Speaker 1>even higher next. No, there's no guarantee of that, So

445
00:21:53.079 --> 00:21:55.359
<v Speaker 1>you have to stick to your plan and regardless of

446
00:21:55.359 --> 00:21:58.000
<v Speaker 1>the timeline, like like you're saying, if it happens earlier

447
00:21:58.160 --> 00:22:00.000
<v Speaker 1>late or it happens at the end of this year,

448
00:22:00.240 --> 00:22:02.519
<v Speaker 1>I don't know, but just have a plan so that

449
00:22:02.599 --> 00:22:05.279
<v Speaker 1>you take your profits and you don't get caught flat footed.

450
00:22:05.880 --> 00:22:07.559
<v Speaker 2>Yeah, and I know one of the things we were

451
00:22:07.559 --> 00:22:09.559
<v Speaker 2>going to talk about was, you know, at a high

452
00:22:09.640 --> 00:22:12.200
<v Speaker 2>level at least, was black Rock. You know, they had

453
00:22:12.200 --> 00:22:14.599
<v Speaker 2>a little bit of changes with how they're or how

454
00:22:14.640 --> 00:22:17.119
<v Speaker 2>coin Base is going to custody their bitcoin right and

455
00:22:17.160 --> 00:22:22.240
<v Speaker 2>you even had Base recently issue now c B bitcoin.

456
00:22:22.359 --> 00:22:25.319
<v Speaker 2>So coin Base is version of bitcoin, and there is

457
00:22:25.359 --> 00:22:27.519
<v Speaker 2>still kind of muddy in the water on like who's

458
00:22:27.640 --> 00:22:31.359
<v Speaker 2>verifying how much you know, are they actually holding this bitcoin?

459
00:22:31.480 --> 00:22:34.160
<v Speaker 2>What are they doing with it? We don't know. You

460
00:22:34.279 --> 00:22:36.759
<v Speaker 2>have to think back in the past really big blow

461
00:22:36.799 --> 00:22:40.599
<v Speaker 2>off tops of bitcoin. Really it's it's blown off because

462
00:22:40.599 --> 00:22:43.559
<v Speaker 2>of manipulation, if you if you really boil it down

463
00:22:44.119 --> 00:22:45.920
<v Speaker 2>and stuff like that, and a lot of these things

464
00:22:45.960 --> 00:22:48.440
<v Speaker 2>can kind of you know, have their blow off tops

465
00:22:48.759 --> 00:22:53.160
<v Speaker 2>with manipulation, especially when these large exchanges like Buinance, Coinbase

466
00:22:53.480 --> 00:22:55.519
<v Speaker 2>and things like that get in the mix because they

467
00:22:55.680 --> 00:23:00.200
<v Speaker 2>hold so much of the you know, so much of

468
00:23:00.240 --> 00:23:01.920
<v Speaker 2>it that they can kind of do what they want

469
00:23:01.960 --> 00:23:04.079
<v Speaker 2>with it and kind of you know, fudge things here

470
00:23:04.119 --> 00:23:06.720
<v Speaker 2>and there. It seems now, I know, Coinbase is obviously

471
00:23:06.720 --> 00:23:10.440
<v Speaker 2>maybe more trusted than Finance and certain other exchanges, especially

472
00:23:10.440 --> 00:23:13.839
<v Speaker 2>here in the US, but I wouldn't be surprised if

473
00:23:14.119 --> 00:23:16.880
<v Speaker 2>you know, manipulation is not a reason in twenty twenty

474
00:23:16.880 --> 00:23:19.640
<v Speaker 2>five why we get our next blowoff top because you

475
00:23:19.720 --> 00:23:23.799
<v Speaker 2>still have these large, large, you know, institutions like Blackrock

476
00:23:23.880 --> 00:23:26.759
<v Speaker 2>now in the space. They have their hands in everywhere,

477
00:23:27.119 --> 00:23:28.839
<v Speaker 2>and to an extent, they can kind of do what

478
00:23:28.880 --> 00:23:33.480
<v Speaker 2>they want because we still don't know regulation wise, you know,

479
00:23:33.720 --> 00:23:35.799
<v Speaker 2>how everything's gonna you know, play out there.

480
00:23:36.839 --> 00:23:40.319
<v Speaker 1>Yeah, it's there's been a lot of controversy with Coinbase

481
00:23:40.359 --> 00:23:43.960
<v Speaker 1>on blackrocksually because people have been saying, like, oh, should

482
00:23:43.960 --> 00:23:46.240
<v Speaker 1>we trust Coinbase. It seems like they're doing some paper

483
00:23:46.279 --> 00:23:49.839
<v Speaker 1>bitcoin issue ins or whatever with black Rock. And then

484
00:23:50.160 --> 00:23:54.000
<v Speaker 1>to your point, there was an updated verbiage or filing

485
00:23:54.039 --> 00:23:57.039
<v Speaker 1>with the SEC that black Rock put together and I'll

486
00:23:57.079 --> 00:23:59.640
<v Speaker 1>read out the details here, but we don't have a

487
00:23:59.720 --> 00:24:03.559
<v Speaker 1>full write up on it, but it says here coin

488
00:24:03.599 --> 00:24:07.039
<v Speaker 1>based custody must now process a withdrawal of digital assets

489
00:24:07.200 --> 00:24:11.079
<v Speaker 1>to a public blockchain address within twelve hours of receiving

490
00:24:11.119 --> 00:24:15.559
<v Speaker 1>instructions from the Trust or its authorized representatives, subject to

491
00:24:15.599 --> 00:24:19.200
<v Speaker 1>specific balance requirements. So yeah, there's been a lot of

492
00:24:19.519 --> 00:24:25.440
<v Speaker 1>public criticism of coinbase and the black Rock and it

493
00:24:25.599 --> 00:24:30.039
<v Speaker 1>comes around when the SEC just approved options for black

494
00:24:30.119 --> 00:24:33.279
<v Speaker 1>rocks Bitcoin ETF. So I'm hearing a lot of positive

495
00:24:34.640 --> 00:24:36.400
<v Speaker 1>information about that that it's going to bring a lot

496
00:24:36.440 --> 00:24:39.279
<v Speaker 1>more liquidity, a lot more investors. But some people are saying, hey,

497
00:24:39.279 --> 00:24:43.400
<v Speaker 1>look more paper bitcoin to your point of manipulation, these

498
00:24:43.440 --> 00:24:46.240
<v Speaker 1>are the tools that have been used to manipulate gold

499
00:24:46.279 --> 00:24:47.200
<v Speaker 1>and other assets.

500
00:24:47.759 --> 00:24:50.000
<v Speaker 2>Yeah, I mean, and that's the thing. It's like every

501
00:24:50.079 --> 00:24:53.599
<v Speaker 2>single blowoff top run that we've seen in crypto, right,

502
00:24:53.720 --> 00:24:59.119
<v Speaker 2>there's always something that is you know, in hindsight, it's like,

503
00:24:59.240 --> 00:25:01.960
<v Speaker 2>how did we not see that as just a massive,

504
00:25:02.400 --> 00:25:05.440
<v Speaker 2>you know, just table of cards, right. Obviously the last

505
00:25:05.440 --> 00:25:08.039
<v Speaker 2>one was really Tara Luna and a lot of what

506
00:25:08.160 --> 00:25:10.160
<v Speaker 2>happened there with one of you know, with their whole

507
00:25:10.160 --> 00:25:12.720
<v Speaker 2>stable coin and what they were doing. And now a

508
00:25:12.759 --> 00:25:14.839
<v Speaker 2>lot of people were wondering, is it gonna be something

509
00:25:14.880 --> 00:25:16.880
<v Speaker 2>related to bitcoin with a lot of this you know

510
00:25:16.920 --> 00:25:19.720
<v Speaker 2>paper bitcoin that's being traded around like our exchange is

511
00:25:19.759 --> 00:25:22.799
<v Speaker 2>actually holding it proof of reserves. We don't know, you know,

512
00:25:23.079 --> 00:25:26.359
<v Speaker 2>what's really happening. It'll be interesting to see, like what

513
00:25:26.519 --> 00:25:29.039
<v Speaker 2>public blockchain are they talking about that they have to

514
00:25:29.839 --> 00:25:32.599
<v Speaker 2>I guess show those transactions on I don't know if

515
00:25:32.640 --> 00:25:35.440
<v Speaker 2>they mentioned that more in the in that post or

516
00:25:35.480 --> 00:25:37.240
<v Speaker 2>in the you know, wording of it. I don't know

517
00:25:37.279 --> 00:25:40.519
<v Speaker 2>if it'd be like Base or just some other you know,

518
00:25:41.000 --> 00:25:44.240
<v Speaker 2>centralized blockchain. I don't really know, but yeah, it's it's

519
00:25:44.440 --> 00:25:47.319
<v Speaker 2>very interesting. Uh when it comes to this manipulation, is

520
00:25:47.400 --> 00:25:50.680
<v Speaker 2>like where's the you know, where's the shady stuff being

521
00:25:50.720 --> 00:25:53.079
<v Speaker 2>done at because we know it's happening, right and and

522
00:25:53.079 --> 00:25:55.920
<v Speaker 2>that's that's the scary part about this space anything and investing,

523
00:25:56.000 --> 00:25:58.160
<v Speaker 2>is you know there's shady stuff going on. It's just

524
00:25:58.279 --> 00:26:00.440
<v Speaker 2>kind of hard to pinpoint it when like you know,

525
00:26:00.480 --> 00:26:03.000
<v Speaker 2>with the regulation, we don't have clear rules for some

526
00:26:03.039 --> 00:26:05.160
<v Speaker 2>of these big players that they have to play by.

527
00:26:06.039 --> 00:26:11.240
<v Speaker 1>M Yeah, and my hope is they're not. There's there's

528
00:26:11.279 --> 00:26:14.839
<v Speaker 1>not something setting up here for some major manipulation.

529
00:26:15.680 --> 00:26:19.039
<v Speaker 2>Let's hope not, you know, And I'm sure I'll get.

530
00:26:19.160 --> 00:26:21.720
<v Speaker 2>I know, I get playing a lot because I post

531
00:26:21.839 --> 00:26:26.160
<v Speaker 2>pretty against this certain chain. But I still think Solana

532
00:26:26.200 --> 00:26:28.079
<v Speaker 2>is a table of cards. Like I know a lot

533
00:26:28.160 --> 00:26:30.599
<v Speaker 2>of people love Solana and they think it's the next

534
00:26:30.599 --> 00:26:33.440
<v Speaker 2>best thing, but like there are so many red flags

535
00:26:33.720 --> 00:26:36.599
<v Speaker 2>if you actually just look at the chain and what

536
00:26:36.680 --> 00:26:40.759
<v Speaker 2>it's doing. I mean, you know, they've had, they've done shoes,

537
00:26:40.839 --> 00:26:44.119
<v Speaker 2>they've done phones, like they're just trying to curate to

538
00:26:44.200 --> 00:26:47.960
<v Speaker 2>the next hype thing. And even with like, however, long

539
00:26:48.000 --> 00:26:50.880
<v Speaker 2>now that they've had uptime, like, I still don't see

540
00:26:50.880 --> 00:26:54.960
<v Speaker 2>anything legit being built on this blockchain other than meme coins.

541
00:26:55.000 --> 00:26:56.680
<v Speaker 2>And I mean, and you're having some of the biggest

542
00:26:56.680 --> 00:26:59.519
<v Speaker 2>meme coins with like Mother, with Iggy, you know, throwing

543
00:26:59.599 --> 00:27:02.839
<v Speaker 2>parties in Singapore and going on Wall Street and talking

544
00:27:02.920 --> 00:27:05.799
<v Speaker 2>with you know, Jim Kramer. It's like, you know, there

545
00:27:05.839 --> 00:27:07.839
<v Speaker 2>is a lot of shady things happening on that chain.

546
00:27:07.920 --> 00:27:12.039
<v Speaker 2>So I still don't really touch soalanage because I feel

547
00:27:12.079 --> 00:27:15.160
<v Speaker 2>like in the next big run, that is a chain

548
00:27:15.240 --> 00:27:18.079
<v Speaker 2>where I already know shady stuff happens, and it happens

549
00:27:18.079 --> 00:27:21.039
<v Speaker 2>a lot, and I'm not gonna risk losing you know,

550
00:27:21.319 --> 00:27:25.160
<v Speaker 2>the bulk of my worth in either holding soul, the

551
00:27:25.279 --> 00:27:28.160
<v Speaker 2>you know, the the native token or even stable coins

552
00:27:28.240 --> 00:27:30.599
<v Speaker 2>or whatever on that chain. Like that is still one

553
00:27:30.640 --> 00:27:33.720
<v Speaker 2>that I have my I'm watching just because I know

554
00:27:33.839 --> 00:27:37.400
<v Speaker 2>it's not as trusted as Bitcoin, as an ethereum or

555
00:27:37.440 --> 00:27:39.599
<v Speaker 2>even you know, you could say some of the other ones,

556
00:27:39.839 --> 00:27:42.480
<v Speaker 2>but it is, you know, one of the largest chains

557
00:27:42.519 --> 00:27:44.559
<v Speaker 2>out there as far as volume right now.

558
00:27:45.759 --> 00:27:50.400
<v Speaker 1>Yeah, I am a bit reservations as well, and I

559
00:27:50.440 --> 00:27:55.640
<v Speaker 1>hope it's not something that's also just being set up

560
00:27:55.759 --> 00:27:59.720
<v Speaker 1>for some epig crash. Obviously I hold some soul tokens,

561
00:27:59.720 --> 00:28:02.160
<v Speaker 1>but I'm more playing the speculative side of it. I'm

562
00:28:02.160 --> 00:28:05.720
<v Speaker 1>not like some a sole advocate or whatever, but just

563
00:28:06.519 --> 00:28:09.319
<v Speaker 1>in making a return. But to your point, there are

564
00:28:09.400 --> 00:28:13.079
<v Speaker 1>some red flags as far as what's happening with the

565
00:28:13.160 --> 00:28:16.079
<v Speaker 1>chain and is some of this legit or not?

566
00:28:16.359 --> 00:28:19.279
<v Speaker 2>You know, Yeah, but that's that's the entire space, right

567
00:28:19.359 --> 00:28:21.680
<v Speaker 2>I mean, you know, I was on our last show

568
00:28:22.160 --> 00:28:23.920
<v Speaker 2>this past Thursday, on the next block Meet and see

569
00:28:23.920 --> 00:28:26.839
<v Speaker 2>what we're talking about. You know, there was a group that,

570
00:28:27.400 --> 00:28:29.319
<v Speaker 2>you know, I guess they got into Gemini or they

571
00:28:29.839 --> 00:28:31.319
<v Speaker 2>it was one of the big exchanges, and they ended

572
00:28:31.400 --> 00:28:33.759
<v Speaker 2>up stealing like two hundred and thirty million dollars worth

573
00:28:33.839 --> 00:28:36.680
<v Speaker 2>of bitcoin. I believe it was and obviously is a

574
00:28:36.720 --> 00:28:39.319
<v Speaker 2>big deal. But like that's still the reality of the

575
00:28:39.319 --> 00:28:42.440
<v Speaker 2>space we're in is there is a lot of you know,

576
00:28:43.000 --> 00:28:45.440
<v Speaker 2>questionable things happening. There's a lot of scammers, there's a

577
00:28:45.480 --> 00:28:48.480
<v Speaker 2>lot that still has yet to be kind of sorted out.

578
00:28:48.519 --> 00:28:50.799
<v Speaker 2>And I think that's why we're still you know, kind

579
00:28:50.799 --> 00:28:54.359
<v Speaker 2>of at this just spot that we are as far

580
00:28:54.400 --> 00:28:57.519
<v Speaker 2>as like adoption, right, people still don't feel comfortable, you know,

581
00:28:58.240 --> 00:29:01.920
<v Speaker 2>putting big money, even with exchanges, right because there's still

582
00:29:01.920 --> 00:29:04.759
<v Speaker 2>a chance that it gets stolen from them and as

583
00:29:04.799 --> 00:29:07.599
<v Speaker 2>we know, not your keys, not your crypto and so

584
00:29:07.880 --> 00:29:10.799
<v Speaker 2>you know, there's a whole side of you know, the

585
00:29:10.799 --> 00:29:14.160
<v Speaker 2>crypto space that has yet to really get warmed up

586
00:29:14.160 --> 00:29:16.400
<v Speaker 2>to wanting to try And I know we could talk

587
00:29:16.400 --> 00:29:18.640
<v Speaker 2>a little bit about this, but I know Coinbase is

588
00:29:18.680 --> 00:29:21.200
<v Speaker 2>trying to make you know, efforts to bring a billion

589
00:29:21.359 --> 00:29:24.240
<v Speaker 2>you know users on chain. They're doing this thing called

590
00:29:24.279 --> 00:29:28.480
<v Speaker 2>coinbase quests now with various chains that use US d

591
00:29:28.640 --> 00:29:30.960
<v Speaker 2>C to try to get people using DeFi and n

592
00:29:31.039 --> 00:29:33.160
<v Speaker 2>f t s and all this stuff. It's not really

593
00:29:33.160 --> 00:29:36.240
<v Speaker 2>in the US yet because of regulation, but it's it's

594
00:29:36.319 --> 00:29:38.400
<v Speaker 2>you know, in that greater part of the world just

595
00:29:38.440 --> 00:29:42.480
<v Speaker 2>because they can transact and do more with DeFi and

596
00:29:42.559 --> 00:29:45.480
<v Speaker 2>n f t s. But you know, certain things are

597
00:29:45.559 --> 00:29:48.279
<v Speaker 2>certain strides are being made, but it's still not as

598
00:29:48.319 --> 00:29:51.599
<v Speaker 2>easy as it needs to be from a user standpoint.

599
00:29:51.640 --> 00:29:54.240
<v Speaker 2>And I think that's why, you know, like most of

600
00:29:54.240 --> 00:29:57.039
<v Speaker 2>what we've talked about is still so much in the

601
00:29:57.119 --> 00:29:59.440
<v Speaker 2>unknown as far as you know, winter, these blowofs kind

602
00:29:59.440 --> 00:30:02.200
<v Speaker 2>of come wins, adoption going to happen, things like that.

603
00:30:03.000 --> 00:30:05.079
<v Speaker 2>Things got to get easier for a lot of people,

604
00:30:05.119 --> 00:30:07.039
<v Speaker 2>and it's got to get out way safer.

605
00:30:08.079 --> 00:30:12.440
<v Speaker 1>Yeah, we got to figure it out, and I don't

606
00:30:12.480 --> 00:30:16.640
<v Speaker 1>know how far away we are from those solutions that

607
00:30:16.720 --> 00:30:19.559
<v Speaker 1>make it very easy and we have these safety controls.

608
00:30:19.680 --> 00:30:21.799
<v Speaker 1>Although the one with the hack that you're talking about

609
00:30:21.960 --> 00:30:24.039
<v Speaker 1>is the guys, the two young guys who stole like

610
00:30:24.119 --> 00:30:27.359
<v Speaker 1>four thousand bitcoin and it's like worth two hundred and

611
00:30:27.400 --> 00:30:29.359
<v Speaker 1>something million, right, Yeah.

612
00:30:29.519 --> 00:30:31.799
<v Speaker 2>I think one of the gap main guys I saw

613
00:30:31.960 --> 00:30:34.519
<v Speaker 2>was zach xbte or whatever. His Twitter kind of had

614
00:30:34.559 --> 00:30:36.599
<v Speaker 2>a whole thread on it. It's so funny too that they

615
00:30:36.640 --> 00:30:39.039
<v Speaker 2>recorded themselves like once they actually got to be like

616
00:30:39.160 --> 00:30:41.559
<v Speaker 2>it's just like it really doesn't make you think that

617
00:30:41.680 --> 00:30:44.480
<v Speaker 2>like this space is still so like wild West, because

618
00:30:44.480 --> 00:30:47.680
<v Speaker 2>it's like it's not these sophisticated, like you know, suit

619
00:30:47.720 --> 00:30:50.759
<v Speaker 2>and tie type people. It's literally just people who know

620
00:30:50.839 --> 00:30:53.519
<v Speaker 2>how to really had a socially engineer and work a

621
00:30:53.559 --> 00:30:56.880
<v Speaker 2>computer really well. And you know, then they go out

622
00:30:56.960 --> 00:30:59.839
<v Speaker 2>and they blow all their money on cars and crazy

623
00:30:59.880 --> 00:31:02.440
<v Speaker 2>things and they get caught. Right, it's like Bernie madeof

624
00:31:02.480 --> 00:31:06.000
<v Speaker 2>but just teenagers and twenty year olds who just knew

625
00:31:06.000 --> 00:31:07.359
<v Speaker 2>how to use a computer really well.

626
00:31:07.799 --> 00:31:12.240
<v Speaker 1>For sure. I know this week last item here we

627
00:31:12.359 --> 00:31:15.359
<v Speaker 1>got the sec Ginster is going to appear before hearing.

628
00:31:15.400 --> 00:31:18.559
<v Speaker 1>They have all five commissioners appearing at a hearing, and

629
00:31:19.440 --> 00:31:23.640
<v Speaker 1>obviously this follows. They're well knowne to open sea. Obviously

630
00:31:23.640 --> 00:31:26.559
<v Speaker 1>they settled with ETRO. I WISHTRO had fought back, but

631
00:31:26.799 --> 00:31:28.880
<v Speaker 1>it should be some fireworks this week. Are you going

632
00:31:28.920 --> 00:31:30.519
<v Speaker 1>to be watching some of those hearings?

633
00:31:31.160 --> 00:31:34.759
<v Speaker 2>For sure, I'll be tuning in obviously. You know, Twitter

634
00:31:34.799 --> 00:31:36.559
<v Speaker 2>does a really good job giving you the cliff notes

635
00:31:36.559 --> 00:31:39.359
<v Speaker 2>as well if you miss everything live. But you know,

636
00:31:39.640 --> 00:31:42.319
<v Speaker 2>it seems like every time we hear Ginzler speak, it's

637
00:31:42.400 --> 00:31:44.920
<v Speaker 2>just a lot. It just frustrates me, just because he

638
00:31:45.119 --> 00:31:48.319
<v Speaker 2>just dodges questions that he knows he can answer, but

639
00:31:48.359 --> 00:31:51.559
<v Speaker 2>he won't because obviously he's you know, I would say

640
00:31:51.839 --> 00:31:55.400
<v Speaker 2>told not to and told not to give clear concise.

641
00:31:55.440 --> 00:31:57.359
<v Speaker 2>It's just kind of the political jargon that we had

642
00:31:57.400 --> 00:32:01.160
<v Speaker 2>to endure. But I think actually it's dumb, right, you know,

643
00:32:01.240 --> 00:32:04.000
<v Speaker 2>going after Open Sea and you know, UNI swap and

644
00:32:04.079 --> 00:32:07.759
<v Speaker 2>certain things, because it's it's in the world we have now.

645
00:32:07.799 --> 00:32:09.960
<v Speaker 2>I saw someone make at tweet and it was like, uh,

646
00:32:11.160 --> 00:32:13.599
<v Speaker 2>you know, Win's target going to get flagged where there

647
00:32:14.119 --> 00:32:16.640
<v Speaker 2>you know, selling of unregistered securities And it was just

648
00:32:16.680 --> 00:32:19.839
<v Speaker 2>a photo of the wall with like baseball cards and

649
00:32:20.160 --> 00:32:22.680
<v Speaker 2>Pokemon cards and Yu gi Oh cards and all that stuff.

650
00:32:22.680 --> 00:32:26.559
<v Speaker 2>Because it's like those are collectibles. Those are you know, yes,

651
00:32:26.599 --> 00:32:30.200
<v Speaker 2>it's a physical collectible, but you know there's a market

652
00:32:30.240 --> 00:32:32.920
<v Speaker 2>to those if you go and you look and it's

653
00:32:32.960 --> 00:32:36.200
<v Speaker 2>like it's the same thing. And I think n f

654
00:32:36.279 --> 00:32:39.440
<v Speaker 2>t s should be seen as as what they are, collectibles,

655
00:32:39.839 --> 00:32:44.160
<v Speaker 2>it's not securities. These you know, there's a pretty clear difference,

656
00:32:44.240 --> 00:32:48.079
<v Speaker 2>I would say, now, you know, as far as certain

657
00:32:48.119 --> 00:32:50.799
<v Speaker 2>tokens being securities and not, you know, hey there you

658
00:32:50.880 --> 00:32:52.599
<v Speaker 2>might have more of a case. But I think going

659
00:32:52.640 --> 00:32:54.480
<v Speaker 2>after n FTS and what's going on there, I think

660
00:32:54.480 --> 00:32:57.440
<v Speaker 2>it's just it's really just the SEC trying to slow

661
00:32:57.640 --> 00:33:00.720
<v Speaker 2>crypto as much as it possibly can. And that's where

662
00:33:00.759 --> 00:33:02.160
<v Speaker 2>even going back to kind of what we said at

663
00:33:02.160 --> 00:33:04.759
<v Speaker 2>the beginning, I think we just need a new you know,

664
00:33:04.799 --> 00:33:08.920
<v Speaker 2>someone different to lead you know the sec outside of

665
00:33:08.960 --> 00:33:12.599
<v Speaker 2>Gary Ginzler, because I think he's just either he's either

666
00:33:12.640 --> 00:33:15.400
<v Speaker 2>he's bought out and he just can't make the decisions

667
00:33:15.440 --> 00:33:19.160
<v Speaker 2>he wants to make and to help the space, you know, grow,

668
00:33:19.640 --> 00:33:22.200
<v Speaker 2>or he really does not want to see it grow,

669
00:33:22.480 --> 00:33:24.680
<v Speaker 2>and like I said, we just need somebody new that

670
00:33:24.960 --> 00:33:28.279
<v Speaker 2>has a better idea of what crypto is, uh, you know,

671
00:33:28.319 --> 00:33:29.440
<v Speaker 2>to get it pushed forward.

672
00:33:30.079 --> 00:33:33.359
<v Speaker 1>Well, I believe he's bought out. I think he saw

673
00:33:33.480 --> 00:33:35.480
<v Speaker 1>his videos before he went to the SE and the

674
00:33:35.480 --> 00:33:38.880
<v Speaker 1>man was promoting al Graham talking about how great crypto is.

675
00:33:38.920 --> 00:33:41.920
<v Speaker 1>He was teaching about it at MIT, so all of

676
00:33:41.960 --> 00:33:45.440
<v Speaker 1>a sudden, these are all securities and blah blah blah

677
00:33:45.480 --> 00:33:47.720
<v Speaker 1>and this and that. It's it's all nonsense.

678
00:33:48.039 --> 00:33:50.680
<v Speaker 2>Yeah, I mean literally, I vividly. I mean that's one

679
00:33:50.720 --> 00:33:52.839
<v Speaker 2>of the reasons I started when I started the next block,

680
00:33:52.920 --> 00:33:55.279
<v Speaker 2>we honed in on Algram because it was like, you

681
00:33:55.319 --> 00:33:58.319
<v Speaker 2>know what, this chain is really fast. It hasn't gone

682
00:33:58.359 --> 00:34:00.400
<v Speaker 2>down at the time, I mean it was doing. I mean,

683
00:34:00.400 --> 00:34:03.960
<v Speaker 2>it was a top twenty five even top fifteen blockchain

684
00:34:04.039 --> 00:34:08.519
<v Speaker 2>by market cap and then obviously, you know, he flips

685
00:34:08.559 --> 00:34:12.039
<v Speaker 2>tail and starts calling it as security and then you

686
00:34:12.039 --> 00:34:15.239
<v Speaker 2>know it's and he even knows the founder, Sylvia mcaulay,

687
00:34:15.320 --> 00:34:18.199
<v Speaker 2>and you know, it's like it's very shady, you know,

688
00:34:18.320 --> 00:34:21.400
<v Speaker 2>kind of everything he's done ever since he took you know,

689
00:34:21.519 --> 00:34:23.559
<v Speaker 2>kind of control, and so it definitely feel like he

690
00:34:23.599 --> 00:34:25.280
<v Speaker 2>has bought out. And that's why I would love to

691
00:34:25.320 --> 00:34:28.960
<v Speaker 2>see you know, that's something Kamala could do, like even

692
00:34:28.960 --> 00:34:31.920
<v Speaker 2>if Biden did it now, right, but something that she

693
00:34:32.000 --> 00:34:35.239
<v Speaker 2>could say, Hey, we're going to you know, we're going

694
00:34:35.320 --> 00:34:38.199
<v Speaker 2>to win the crypto community by our actions, and we're

695
00:34:38.199 --> 00:34:39.719
<v Speaker 2>going to go ahead and get rid of him and

696
00:34:39.800 --> 00:34:42.840
<v Speaker 2>put someone in that's actually pro crypto, Like you want

697
00:34:42.880 --> 00:34:45.360
<v Speaker 2>to win a lot of votes from the crypto side,

698
00:34:45.760 --> 00:34:48.320
<v Speaker 2>make a move like that. Don't let him just sit here,

699
00:34:48.400 --> 00:34:54.239
<v Speaker 2>install and deflect and just you know, make it even

700
00:34:54.320 --> 00:34:56.920
<v Speaker 2>muddier than it already is for these businesses to want

701
00:34:56.920 --> 00:34:59.119
<v Speaker 2>to operate in the US because we're losing so much

702
00:34:59.800 --> 00:35:03.760
<v Speaker 2>you know, talent and value with you know, dragging our

703
00:35:03.800 --> 00:35:04.280
<v Speaker 2>feet here.

704
00:35:05.039 --> 00:35:08.079
<v Speaker 1>Yeah. Absolutely, question is will she do that?

705
00:35:09.159 --> 00:35:11.440
<v Speaker 2>And I don't think she's gonna get the chance. I mean,

706
00:35:11.719 --> 00:35:13.239
<v Speaker 2>like I I was thinking to this too, is like

707
00:35:13.280 --> 00:35:15.719
<v Speaker 2>Trump could go down as the only president to be

708
00:35:15.840 --> 00:35:18.480
<v Speaker 2>to and zero against going against women. As far as

709
00:35:18.480 --> 00:35:21.119
<v Speaker 2>getting elected, he would be the only one because he's

710
00:35:21.159 --> 00:35:23.840
<v Speaker 2>literally like both times now he's had to run against women.

711
00:35:23.880 --> 00:35:26.239
<v Speaker 2>Don't really know if that will benefitimity, but you know,

712
00:35:26.320 --> 00:35:29.199
<v Speaker 2>I really can't. I don't see even though there's a

713
00:35:29.280 --> 00:35:32.119
<v Speaker 2>I follow a poly market, which is obviously uh you know,

714
00:35:32.159 --> 00:35:35.440
<v Speaker 2>a platform where you can place bets on political things

715
00:35:35.440 --> 00:35:38.440
<v Speaker 2>and whatnot, and it still shows Kamala with a slim lead,

716
00:35:38.519 --> 00:35:40.480
<v Speaker 2>But I don't know. For me, it's like I just

717
00:35:40.559 --> 00:35:44.000
<v Speaker 2>don't see, you know, her beating Trump. I think I

718
00:35:44.039 --> 00:35:46.280
<v Speaker 2>think Trump has it in the bag, but maybe maybe

719
00:35:46.280 --> 00:35:48.039
<v Speaker 2>the race is a lot closer than I think.

720
00:35:49.159 --> 00:35:54.039
<v Speaker 1>Yeah, it's it's weird, man, this election cycle, you know,

721
00:35:54.039 --> 00:35:57.119
<v Speaker 1>obviously with the switch with Biden and then yeah, it's

722
00:35:57.159 --> 00:36:01.079
<v Speaker 1>just a lot going on and we'll see. Man, it's

723
00:36:01.159 --> 00:36:04.199
<v Speaker 1>hard to tell. And sometimes that there's so many different

724
00:36:04.199 --> 00:36:06.280
<v Speaker 1>polls and many I don't even know what to believe.

725
00:36:07.039 --> 00:36:09.559
<v Speaker 2>Yeah, that's that's the thing with Twitter, right, I mean

726
00:36:09.559 --> 00:36:13.039
<v Speaker 2>you have like it's I aman saw something where it's

727
00:36:13.039 --> 00:36:15.360
<v Speaker 2>talking about like you know news that used to be

728
00:36:15.400 --> 00:36:17.360
<v Speaker 2>when it would break, like you'd be talking about it

729
00:36:17.400 --> 00:36:20.320
<v Speaker 2>for you know, six months, right and now it's like

730
00:36:20.719 --> 00:36:25.599
<v Speaker 2>massive news breaks, a crazy conspiracy becomes true, and it's

731
00:36:25.639 --> 00:36:28.159
<v Speaker 2>like two weeks and then it's just replaced by something else.

732
00:36:28.159 --> 00:36:30.679
<v Speaker 2>I mean, now the whole world's you know, trying to

733
00:36:30.760 --> 00:36:33.840
<v Speaker 2>track down whoever Diddy had a party with, and you know,

734
00:36:34.239 --> 00:36:37.920
<v Speaker 2>surfacing videos of Diddy talking with Clinton, Diddy talking with

735
00:36:38.079 --> 00:36:40.559
<v Speaker 2>Obama and saying like, oh, you know, they're all in it,

736
00:36:40.639 --> 00:36:42.960
<v Speaker 2>you know, in these Diddy parties. What's it going to

737
00:36:43.039 --> 00:36:44.559
<v Speaker 2>be next week? Right, what are we going to be,

738
00:36:44.960 --> 00:36:47.920
<v Speaker 2>you know, talking about It's really hard to keep up

739
00:36:47.960 --> 00:36:50.880
<v Speaker 2>with everything that's going on. I'm just glad football's here

740
00:36:50.920 --> 00:36:53.440
<v Speaker 2>and the Steelers are doing good. Let's be we can

741
00:36:53.519 --> 00:36:54.599
<v Speaker 2>all agree on that.

742
00:36:55.199 --> 00:36:57.960
<v Speaker 1>Yeah, I'm actually looking forward to the election to be

743
00:36:58.000 --> 00:37:01.320
<v Speaker 1>over because this is so noisy. Man. Uh, your point,

744
00:37:01.400 --> 00:37:05.679
<v Speaker 1>like sports seasons back, so at least get an escape.

745
00:37:06.079 --> 00:37:08.599
<v Speaker 1>But we'll leave it at that. David, great stuff, man.

746
00:37:08.639 --> 00:37:09.440
<v Speaker 1>Thank you for joining.

747
00:37:09.880 --> 00:37:10.960
<v Speaker 2>Yeah, thanks for having me on