WEBVTT

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<v Speaker 1>I've got big crypto news for you guys. Ripple CEO

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<v Speaker 1>Brad Garlinghouse highlights that the company has received approval for

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<v Speaker 1>its r l USD stable coin to go live. I'll

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<v Speaker 1>give you the details there, and Goldman Sach's CEO ways

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<v Speaker 1>in on the company's crypto plans and will Google's new

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<v Speaker 1>quantum chip be used to take down Bitcoin. I'll share

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<v Speaker 1>what some folks are saying and what we can expect.

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<v Speaker 1>Let's get into it. Hey, everybody, welcome into the Thinking

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<v Speaker 1>Crypto podcast. You're home for cryptocurrency news and interviews. I'm

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<v Speaker 1>your host, Tony Edward. On your way in, please hit

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<v Speaker 1>that subscribe button as well as the thumbs up button

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<v Speaker 1>and leave a comment below. If you're listening on a

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<v Speaker 1>podcast platform such as Spotify or Apple, please leave a

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<v Speaker 1>five star rating and review. Folks. Let's start by taking

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<v Speaker 1>a look at the market. We're seeing a bit of

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<v Speaker 1>a recovery here for Bitcoin and certain all coins, specifically

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<v Speaker 1>XRP and Cardano. But I think it's still too early

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<v Speaker 1>to judge this. I think we have to let the

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<v Speaker 1>week play out and let the market show us which

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<v Speaker 1>direction it wants to go in. Because we're talking probabilities here.

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<v Speaker 1>We don't have a crystal ball, and we could see

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<v Speaker 1>further downside pressure before balancing and heading upwards. So let's

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<v Speaker 1>be patient. But good to see there's some level of recovery,

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<v Speaker 1>even though it's pretty minuscule. And you know, we kind

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<v Speaker 1>of want to watch what Bitcoin's going to do because

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<v Speaker 1>Bitcoin leads the market. So if Bitcoin finds some support

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<v Speaker 1>and starts moving up again this week, that's very good

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<v Speaker 1>for the entire market. But my gut tells me that

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<v Speaker 1>we might be in a bit of a sideways chopped

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<v Speaker 1>for maybe a week and a half or two weeks

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<v Speaker 1>before we see things move up again. So just be patient.

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<v Speaker 1>This is the market cycles playing out. And remember embrace

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<v Speaker 1>the volatility because the volatility that gives you these crazy

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<v Speaker 1>swing downwards also gives you these incredible swing upwards. It's

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<v Speaker 1>like a pendulum. Think of it that way. So be patient,

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<v Speaker 1>and higher prices will eventually come as the bull market

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<v Speaker 1>continues it because we are in the midst of the bullmarket,

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<v Speaker 1>there has been no invalidation, So be patient. Guys. Now

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<v Speaker 1>big news guys. Ripple CEO Brad garling House tweeted out

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<v Speaker 1>this afternoon this just in we have final approval from

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<v Speaker 1>the NYDFS for our l U s D exchange and

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<v Speaker 1>partner listenings will be live soon and reminder, when our

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<v Speaker 1>l USD is live, you'll hear it from Ripple first.

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<v Speaker 1>So our l us D is, of course the stable

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<v Speaker 1>coin being issued by Ripple. It's going to be launched

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<v Speaker 1>on the XRP Ledger and ETHEROREM. We know that Charles

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<v Speaker 1>Hastenson has been talking to Brad Garlinghouse and David Schwartz

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<v Speaker 1>at Ripple about having our l U s D on Cardano,

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<v Speaker 1>but I think that's going to be later down the line,

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<v Speaker 1>but the launch will be on the XRP Ledger and Etherorem.

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<v Speaker 1>This is huge news on multiple fronts. First, very big

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<v Speaker 1>for Ripple as a company and the evaluation of that

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<v Speaker 1>company and their eventual plans to do an IPO and

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<v Speaker 1>so forth. Second, very big for the XRP Ledger because

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<v Speaker 1>on this podcast we've often talked about Metcalf's Law, and

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<v Speaker 1>Metcalf's Law talks about network effects. The more participants who

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<v Speaker 1>have on a network, the more activity, more users, and

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<v Speaker 1>so forth, the more stronger the network becomes and the

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<v Speaker 1>more valuable it becomes. And of course with blockchains, you

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<v Speaker 1>have a native token, so the token becomes valuable as well.

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<v Speaker 1>So think of Facebook. Facebook was worth millions of dollars

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<v Speaker 1>before they even monetize the platform at all. Go read

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<v Speaker 1>the book, Go read the history, watch the social network

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<v Speaker 1>and so forth. Right, it made no money for years,

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<v Speaker 1>but yet it was valuated and millions of users. Why

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<v Speaker 1>because there was people on there, There was network effects,

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<v Speaker 1>so it had the potential for monetization and much more.

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<v Speaker 1>Same type of principle applies to blockchains. So that's why

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<v Speaker 1>this is bullish for the XRP ledger. It's bullish for

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<v Speaker 1>XRP because remember when these transactions are happening on the

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<v Speaker 1>XRP ledger, the token is being used, even in micro transactions. Right,

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<v Speaker 1>the token greases the wheel. This is the same for

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<v Speaker 1>every blockchain. Ethereum, Solana and so forth have that benefit.

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<v Speaker 1>The third element to you know this being significant is

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<v Speaker 1>the stable coin market continues to grow. Our l U

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<v Speaker 1>s D is of course going to be a US

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<v Speaker 1>born stable coin. It joins USD, c P, y USD

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<v Speaker 1>and obviously Tether, but Tether wasn't started in the US.

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<v Speaker 1>It's outside US, but it's the largest staple coin out there,

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<v Speaker 1>of course, and we'll see how Ripple, you know, what

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<v Speaker 1>their strategy is and go to market strategy to gain

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<v Speaker 1>market penetration is and capture market share. But I think

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<v Speaker 1>they're going to be off to a good start because

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<v Speaker 1>they've already built a pipeline, a network, a global network

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<v Speaker 1>with banks and payment service providers and so forth, so

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<v Speaker 1>it's going to be pretty easy for them to position

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<v Speaker 1>and inject this stable coin into those respective jurisdictions, countries,

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<v Speaker 1>markets and so forth. So very good news. And from

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<v Speaker 1>a macro perspective, this is of course very good for

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<v Speaker 1>the price of XRP, given that we are in a bullmarket,

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<v Speaker 1>you know, kind of any news is good news and

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<v Speaker 1>the bulmarket right unless it's detrimental. But this will only

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<v Speaker 1>benefit the price of XRP. And of course I'm sure

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<v Speaker 1>you guys have seen my interviews with Brad Garlinghouse and

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<v Speaker 1>Jack McDonald and different people from Ripple about the stable coin,

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<v Speaker 1>and if you haven't, you know, go check those out

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<v Speaker 1>there in a playlist. I'll link to some in the

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<v Speaker 1>description where you can learn about these things, guys. So

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<v Speaker 1>that's really big, guys, huge news for Ripple. But let's

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<v Speaker 1>move ahead. Here we got news from Goldman Sachs SO

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<v Speaker 1>three trillion dollar asset manager. Goldman Sachs says it will

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<v Speaker 1>evaluate participating in bitcoin or e theorem markets if regulators permit.

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<v Speaker 1>These comments are coming from their CEO, David Solomon, who

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<v Speaker 1>spoke at Reuter's next press conference about the firm's future

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<v Speaker 1>in crypto, saying, the further investments, you know, will be

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<v Speaker 1>evaluated right now. Goldman Sachs does hold bitcoin and etherorem

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<v Speaker 1>etf SO. Back in November, Goldman Sachs submitted it's thirteen

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<v Speaker 1>F filing with the SEC. According to the filing, the

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<v Speaker 1>finance giant holes around seven hundred and ten million dollars

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<v Speaker 1>worth of bitcoin ETFs already as of September thirty, of

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<v Speaker 1>twenty twenty four. So we know they want to jump

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<v Speaker 1>all in. If Blackrock and all these other institutions are participating,

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<v Speaker 1>Goldman Sachs is going to want to do more. They're

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<v Speaker 1>going to want to tokenize and so forth. It's just

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<v Speaker 1>a matter of time. It's not a matter of if,

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<v Speaker 1>it's just when. And one of the things that's been

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<v Speaker 1>holding them back has been the SEC SAWB one two

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<v Speaker 1>one rule, which doesn't permit them to hold bitcoin and

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<v Speaker 1>crypto directly. I think once that rule is out the

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<v Speaker 1>way JP Morgan Goldman Sacks, all these guys are going

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<v Speaker 1>to go all in, So get ready. Things are going

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<v Speaker 1>to heat up and game theory is going to play

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<v Speaker 1>out here. No one wants to get left behind. At

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<v Speaker 1>the end of the day. If this acid is generating

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<v Speaker 1>a ton of fees and there's demand for it and

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<v Speaker 1>you're not offering it, and there's a race among all

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<v Speaker 1>the Wall Street firms at the end of the day,

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<v Speaker 1>the goal for them is to generate as much revenue

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<v Speaker 1>as possible and of course as much profit as possible.

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<v Speaker 1>You're going to look like an idiot not participating here.

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<v Speaker 1>So I think they're going to do a lot more.

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<v Speaker 1>And I think once there's clear regulations, it's going to

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<v Speaker 1>open the floodgates. Guys. There's a lot of capital still

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<v Speaker 1>on the sidelines that wants to participate but they can't,

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<v Speaker 1>and once the legislation comes through, it's going to be

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<v Speaker 1>exciting times. Guys. A great place you can buy bitcoin,

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<v Speaker 1>XRP and different all coins is on Uphold. This is

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<v Speaker 1>a platform I've been using since twenty eighteen. Uphold is

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<v Speaker 1>one of my go to exchanges. They are simple to use,

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<v Speaker 1>they're reliable, they have three hundred plus cryptocurrencies. They're available

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<v Speaker 1>in over one hundred and fifty countries. They also offer

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<v Speaker 1>precious metals and you can actually swamp precious metals for

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<v Speaker 1>crypto and FIAT and much more. It's a pretty unique

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<v Speaker 1>platform and they are fully transparent guys. You can review

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<v Speaker 1>their transparency report. They are one hundred percent reserve, they

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<v Speaker 1>don't commingle or lend out your crypto assets, and they

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<v Speaker 1>have a great product called US the Interest Accounts where

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<v Speaker 1>you can park your dry powder or crypto profits and

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<v Speaker 1>earn four point sixty five percent AP. Why. There are

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<v Speaker 1>no lock ups, you can pull your cash in and

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<v Speaker 1>out at any point, there are no monthly fees, and

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<v Speaker 1>it's FDIC insured, just like a bank. So if you'd

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<v Speaker 1>like to learn more about uphold, visit the link in

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<v Speaker 1>the description. All right, guys, moving ahead, I'm sure many

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<v Speaker 1>of you heard Google has launched Willow, their newest quantum chip,

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<v Speaker 1>and they said here, in under five minutes, it's able

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<v Speaker 1>to perform a benchmark computation that would take one of

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<v Speaker 1>today's fastest supercomputers ten septillion years that's greater than the

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<v Speaker 1>age of the universe. So technology is moving at a

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<v Speaker 1>rapid place and we are living in the fourth Industrial

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<v Speaker 1>Revolution with AI, robotics, blockchain and crypto ev, space exploration.

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<v Speaker 1>You see, all these things are happening. Guys, it's the

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<v Speaker 1>next Industrial Revolution and we're living in the midst of it.

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<v Speaker 1>It's amazing times. And yes, the world has problems, but

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<v Speaker 1>you also got to stop to appreciate all the great

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<v Speaker 1>things that are happening and what the future may look like.

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<v Speaker 1>But a lot of people are coming out saying, hey, well,

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<v Speaker 1>this type of technology, these super chips and computers be

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<v Speaker 1>used to take down blockchains and for example like bitcoin. Right,

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<v Speaker 1>So someone addressed this, and I want to share the

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<v Speaker 1>details because you know, there's a lot of fud being spread.

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<v Speaker 1>But we got to go back to facts. So the

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<v Speaker 1>shout out to Ben Sigman. He's actually the author of

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<v Speaker 1>the Big Bitcoin Book, and he says, today Google announced

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<v Speaker 1>that Willow has reached one hundred and five cubits with

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<v Speaker 1>improved error rates. Should bitcoiners worry? Short answer, no. Bitcoin

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<v Speaker 1>relies on two types of encryption. First, is the e

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<v Speaker 1>c D SA two five six, vulnerable to Shor's algorithm,

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<v Speaker 1>but cracking it would require over one million cubits. Willow's

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<v Speaker 1>one hundred and five isn't even close. Second Shaw two

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<v Speaker 1>five six even tougher requires a different approach, Grover's algorithm

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<v Speaker 1>and millions of physical cubits to pose a real threat.

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<v Speaker 1>Bitcoin's cryptography remains SAFU for now, so we're still early.

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<v Speaker 1>This thing is nowhere near powerful enough to take down

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<v Speaker 1>the Bitcoin network. The other thing to keep in mind,

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<v Speaker 1>and I think this has been addressed for years now.

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<v Speaker 1>If this technology is coming out, guess what the mining

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<v Speaker 1>technology is going to be updated with it? Rights, Just

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<v Speaker 1>as we've seen the upgrade of mining equipment over the

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<v Speaker 1>years as computation and technology has gotten better, So do

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<v Speaker 1>the miners have to make sure they upgrade? Hell? Yeah, right,

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<v Speaker 1>they need to make sure their equipment and everything's upgraded.

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<v Speaker 1>But is there anything to worry about now, like all

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<v Speaker 1>of a sudden, will is going to take down the

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<v Speaker 1>Bitcoin network or other blockchains? No, And if it gets

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<v Speaker 1>to a point where it can do that, then we

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<v Speaker 1>got bigger problems. Then you know, this thing could take

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<v Speaker 1>over the world, It could take down governments and all that. Right,

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<v Speaker 1>we got bigger problems, so right now, nothing to worry about.

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<v Speaker 1>But I do believe the miners will will update their

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<v Speaker 1>respective technology and mind equipment accordingly as this technology progresses. Now,

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<v Speaker 1>today there was a big conference happening in the UAE

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<v Speaker 1>around bitcoin, and Donald Trump's son Eric Trump said he

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<v Speaker 1>predicts a one million dollar bitcoin. He also stated that

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<v Speaker 1>he believes that cryptocurrencies are the future. Banking as slow

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<v Speaker 1>as hell. It's antiquated, and it doesn't work. It doesn't

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<v Speaker 1>make any sense that banks run on nine to five

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<v Speaker 1>schedules five days a week. So he's absolutely right. I

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<v Speaker 1>agree with them there, All right, guys, some not so

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<v Speaker 1>good news for bitcoin. The Microsoft shareholders voted against a

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<v Speaker 1>bitcoin investment. The preliminary votes shows. So this is not

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<v Speaker 1>really unexpected because the board, if you recall, was not

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<v Speaker 1>in favor of the idea. Now, the shareholders had to

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<v Speaker 1>ultimately make the decision and they said no at this point.

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<v Speaker 1>But do I think eventually once again, not a matter

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<v Speaker 1>of if, but when they will do this. I think so.

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<v Speaker 1>And I shared my reasons in the previous podcast that

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<v Speaker 1>if Blackrock is here tokenizing, financializing bitcoin and crypto, and

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<v Speaker 1>we've seen what they've done with other commodities and movements

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<v Speaker 1>like ESG. A lot of people have to fall in line, right,

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<v Speaker 1>A lot of corporates were jumping on the ESG train,

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<v Speaker 1>if you recall, and obviously that that whole movement died

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<v Speaker 1>down and on so forth. But uh, I think Blackrock,

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<v Speaker 1>if the you and along with the US government, you know,

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<v Speaker 1>forming a bitcoin strategic reserve is going to make it

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<v Speaker 1>easy for these corporates to add bitcoin to your balance sheet.

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<v Speaker 1>And you know, we're seeing across the globe companies are

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<v Speaker 1>doing this. And recently we got to report that a

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<v Speaker 1>company was going to add bitcoin and excerpt as part

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<v Speaker 1>of its reserves. So you know, these things are going

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<v Speaker 1>to happen in phases. Is going to be crawl, walk, run, right,

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<v Speaker 1>Not everyone's going to be Sailor, Michael Sailor and just

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<v Speaker 1>go buy a shit ton of bitcoin and raise incredible

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<v Speaker 1>amounts of debt to buy bitcoin. So but I think

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<v Speaker 1>you know, eventually this will happen, guys, all right, moving ahead,

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<v Speaker 1>this is a surprise. Kaitlyn Long of Custodia Bank highlighted

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<v Speaker 1>that the New York Times actually did some good reporting

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<v Speaker 1>today where they highlighted the Operation Choke point two point

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<v Speaker 1>zero and the banking of crypto, and you know that

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<v Speaker 1>was led by Elizabeth Warren and her cronies and the

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<v Speaker 1>anti crypto army. Look at the headline from the New

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<v Speaker 1>York Times how crypto insiders turned d banking into a

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<v Speaker 1>political storm. So Kaitlyn Long read through and saying it's

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<v Speaker 1>a balanced story from them, so they actually did a

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<v Speaker 1>good job. And she highlighted how punch Bowl, sixty minutes

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<v Speaker 1>and Washington Post and others were running denial stories about

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<v Speaker 1>this situation. So the truth is going to come out.

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<v Speaker 1>I mean, we got congressional hearings, we got proof, we

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<v Speaker 1>got letters, coinbas and these guys released, so all these

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<v Speaker 1>people who are part of this thing is going to

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<v Speaker 1>get they're going to get exposed. Final news item here,

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<v Speaker 1>we got news that coinbase Institutional they're integrating chain Link

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<v Speaker 1>and I'm bullish on chain link. I hold in my

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<v Speaker 1>portfolio and full transparency. They tweeted, I We're excited to

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<v Speaker 1>announce that our Project Diamond platform is integrating the chain

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<v Speaker 1>Link standard for on chain finance. Chain Link will unlock

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<v Speaker 1>utility and unify liquidity across the Project Diamond platform. So

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<v Speaker 1>this is pretty great and you're just seeing Chainlink being

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<v Speaker 1>used by other blockchains and many different companies. The technology

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<v Speaker 1>is pretty amazing. So this is why I'm holding in

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<v Speaker 1>my portfolio. Not financial advice, of course, so they said

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<v Speaker 1>here in their press release. By natively integrating chain Link

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<v Speaker 1>standard coin basis, Project Diamond Platform can now offer data

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<v Speaker 1>and cross chain connectivity in a secure way that helps

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<v Speaker 1>meet the compliance needs of institutional adopters. So big stuff, guys.

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<v Speaker 1>All right, folks, that's the news. Let me know what

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<v Speaker 1>you think. Leave your thoughts and comments below. A great

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<v Speaker 1>way you can support me, guys is by signing up

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<v Speaker 1>for my free email news that are on Substack. It's

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<v Speaker 1>one hundred percent free, and grab a cop in my book,

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<v Speaker 1>Rethinking Crypto. It's available on Amazon and paperback in digital.

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<v Speaker 1>Grab a copy for yourself, grab a few copies for

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<v Speaker 1>your friends and family who want to learn about crypto.

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<v Speaker 1>Give it as a gift this holiday. And if you

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<v Speaker 1>bought a copy already, please leave a rating review. Thank

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<v Speaker 1>you guys. I appreciate you all, and I'll talk to

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<v Speaker 1>you all later.