BITCOIN: UNBELIEVABLE PERFECT STORM!!!! (bullish)

Summary

In this episode, the host discusses the recovery of the cryptocurrency market, with Bitcoin and Ethereum showing significant gains. They highlight the 'perfect storm' of events influencing the market, including potential rate cuts, US elections, and the SEC's stance on FTX's distribution of stablecoins. The conversation also touches on the rise in gold prices, the total market cap of stablecoins, and the importance of HODLing during market fluctuations. The host expresses optimism for the market's future, emphasizing the potential for a massive rally and the significance of on-chain activity and innovation in the crypto space.

Takeaways

• 📈 The cryptocurrency market is showing signs of recovery with Bitcoin and Ethereum experiencing positive gains.
• ⏳ There is anticipation for potential interest rate cuts within 16 days, historically leading to an increase in Bitcoin's price.
• 🗳️ US elections are approaching in 65 days, which have historically been followed by significant market pumps.
• 💵 FTX is set to distribute $16 billion in stablecoins, which could be reinvested into cryptocurrencies, stimulating the market.
• 🚨 The SEC's scrutiny of FTX's distribution plans as a potential security highlights regulatory challenges in the crypto space.
• 📉 Despite Ethereum's daily revenue dropping significantly, on-chain activity is reaching new highs, indicating continued use despite lower fees.
• 🏦 There is a warning about the potential for increased capital controls and financial repression by Western governments, emphasizing the importance of financial freedom.
• 🔒 The discussion suggests that self-custody of Bitcoin or physical gold outside the banking system could be a safeguard against capital controls.
• 💬 Concerns are raised about the suppression of free speech and financial freedom, with suggestions that crypto could offer a solution.
• 🔑 The importance of the 'social layer' in cryptocurrency is highlighted, noting that technical capabilities alone are not sufficient for adoption and trust.

Q & A

What is the current status of Bitcoin and other cryptocurrencies mentioned in the script?

Bitcoin is up by 2%, Ethereum (ETH) by 2.7%, Binance Coin (BNB) by 5.4%, Solana (SOL) with a 4.3% increase, and Dogecoin is also experiencing a price surge.

What is referred to as the 'Perfect Storm' in the context of the script?

The 'Perfect Storm' refers to a series of significant events expected to positively impact the cryptocurrency market, including potential rate cuts, US elections, and the distribution of 16 billion in cash by FTX.

How does the speaker view the correlation between rate cuts and Bitcoin price?

The speaker believes that historically, Bitcoin's price has increased following rate cuts, contrary to some misinformation suggesting otherwise.

What is the significance of the 16 billion in cash being distributed by FTX as mentioned in the script?

The distribution of 16 billion in cash by FTX is seen as a potential stimulus to the crypto market, as those who receive funds are expected to reinvest them into cryptocurrencies, thus driving up prices.

What is the speaker's stance on the SEC's involvement with FTX's distribution of funds?

The speaker criticizes the SEC for attempting to interfere with FTX's distribution of funds, suggesting that the SEC's actions could be seen as 'psychopathic behavior'.

What does the speaker suggest about the relationship between gold prices and Bitcoin?

The speaker implies that gold and Bitcoin prices often move in tandem, with both being seen as hedges against inflation, and notes that gold prices are currently at an all-time high.

What is the significance of the total market cap of stablecoins being at an all-time high according to the script?

A high total market cap of stablecoins indicates that there is a substantial amount of liquidity ready to be converted into other assets, which could potentially lead to a market pump.

Why does the speaker believe that 73% of Bitcoin being held by individuals is noteworthy?

The speaker suggests that the high percentage of Bitcoin held by individuals rather than institutions indicates that market volatility is by design to shake out smaller investors, as part of a strategy by larger investors, or 'whales'.

What is the speaker's opinion on the current state of the Ethereum network?

The speaker notes a decrease in Ethereum's daily revenue due to lower fees but an increase in on-chain activity, suggesting that Ethereum is playing catch-up and there's potential for new dApp development.

What is the speaker's view on the recent actions of Solana regarding 'network extensions'?

The speaker expresses curiosity about Solana's introduction of 'network extensions', which are not called layer 2 solutions, and cautions that it's important for Solana to manage incentives properly to avoid fragmenting the network.

Outlines

00:00

📈 Crypto Market Recovery and Upcoming Perfect Storm

The speaker opens by noting a positive trend in the crypto market with Bitcoin and Ethereum showing gains. They emphasize an impending 'perfect storm' of events expected to boost the market further, including potential interest rate cuts which historically have led to an increase in Bitcoin's price. The speaker counters misinformation about rate cuts, highlighting the correlation between rate cuts and Bitcoin's price increase. They also mention upcoming US elections, the distribution of $16 billion by FTX in stablecoins, and the correlation between gold prices and Bitcoin, suggesting a bullish trend. The talk concludes with a call to patience and a big-picture view amidst market volatility.

05:00

💰 Market Analysis and Financial Repression

The speaker provides a detailed market analysis, discussing the increase in printed coins and new trending cryptocurrencies. They touch on the potential impact of SEC regulations on FTX's distribution of funds and the likelihood of recipients reinvesting in crypto. The conversation shifts to the broader economic context, warning of financial repression and capital controls in the Western world. The speaker suggests that physical gold and Bitcoin in cold storage could offer protection against such measures. They also discuss the seasonality of Bitcoin, drawing parallels between current market conditions and past cycles, and express optimism for a market rally.

10:02

🌐 Global Financial Shifts and Cryptocurrency's Role

The speaker delves into the global financial landscape, discussing the impact of capital controls and sovereign debt crises. They compare the situation to historical events in Argentina and Venezuela, emphasizing the potential for governments to devalue currencies overnight. The conversation highlights the importance of cryptocurrencies as a hedge against such financial repression. The speaker also addresses the seasonality of Bitcoin, suggesting a bullish September based on historical trends, and discusses the stock-to-flow model as an indicator of potential price increases.

15:05

🚀 Ethereum's Growth and Critique of DeFi

This section focuses on Ethereum's network activity and the drop in daily revenue despite increased usage, suggesting a positive trend for users. The speaker discusses the debate around Ethereum's layer two solutions and Vitalik Buterin's views on DeFi, comparing the situation to a snake eating its own tail. They emphasize the need for innovation on Ethereum L1 and the potential for new decentralized applications, while also acknowledging the challenges and security concerns associated with the development of these applications.

20:05

🌐 Solana's Network Extensions and AI in Crypto Development

The speaker discusses Solana's introduction of 'network extensions' as a means to scale the network without fragmenting value, contrasting it with Ethereum's layer two approach. They highlight the importance of aligning incentives between layer one and layer two projects. The conversation also touches on the rise of AI tools in crypto development, such as Cursor AI, and the potential for increased security vulnerabilities due to the ease of creating apps and smart contracts without thorough understanding of security implications.

25:06

🏦 Crypto and Traditional Finance: Navigating the Future

The speaker addresses the challenges of using traditional banks for crypto-related activities and suggests alternatives like Swissborg or EU fex for a safer experience. They emphasize the importance of on-ramping funds into crypto and express a desire for a future where crypto is the dominant form of money, with limited need for off-ramping. The discussion also covers the potential for web 3.0 to offer 'breakout' applications that surpass the limitations of web 2.0, and the need for new use cases that fully leverage blockchain technology.

30:09

💬 Social Media Censorship and Blockchain Solutions

The speaker expresses concerns over social media censorship and the banning of figures like Alex Jones from platforms. They suggest that blockchain could offer a solution to create censorship-resistant social media, allowing for decentralized communication. The conversation also touches on the potential for Minima to disrupt traditional social media platforms and the importance of innovation in the crypto space.

35:11

🌐 Global Economic Trends and Crypto's Response

The speaker discusses global economic trends, including the rise of national debts and the potential for financial repression as a response. They argue that cryptocurrencies like Bitcoin can serve as a hedge against such measures, allowing individuals to maintain control over their wealth. The conversation also covers the importance of community and trust in the adoption of cryptocurrencies, suggesting that technical advantages alone are not sufficient for widespread acceptance.

40:12

🏠 Practical Challenges of Living Off Crypto

In the final paragraph, the speaker addresses the practical challenges of living entirely off crypto, such as paying rent and bills. They advocate for a future where crypto is the primary form of money and suggest that the community should focus on improving on-ramps rather than off-ramps. The speaker also expresses optimism for the growth of crypto and encourages the audience to stay engaged with the market.

Keywords

💡Bitcoin

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries. In the video, Bitcoin's price recovery and its potential increase due to upcoming rate cuts are discussed, highlighting its significance in the cryptocurrency market.

💡Rate Cuts

Rate cuts refer to a decrease in interest rates by a country's central bank, which can stimulate economic activity by making loans cheaper and encouraging borrowing. The script suggests that rate cuts are imminent and historically, such events have been followed by an increase in Bitcoin's price, indicating a positive correlation.

💡Ethereum

Ethereum, or ETH, is an open-source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. It is the second-largest cryptocurrency by market capitalization. The video discusses Ethereum's price increase and its development activities, emphasizing its role in the crypto ecosystem.

💡SEC

The U.S. Securities and Exchange Commission (SEC) is a regulatory body responsible for enforcing securities laws. In the context of the video, concerns are raised about the SEC's potential interference with FTX's distribution of funds in stablecoins, which could impact the crypto market dynamics.

💡Stablecoins

Stablecoins are a type of cryptocurrency designed to minimize price volatility by pegging them to a reserve of assets, often fiat currencies like the US dollar. The video mentions FTX distributing 16 billion in stablecoins, which could inject liquidity into the crypto market and potentially boost asset prices.

💡Market Cap

Market capitalization, or market cap, is the total value of a company or an asset that is calculated by multiplying the number of outstanding shares by the price of each share. In the video, the total market cap of stablecoins being at an all-time high is mentioned, suggesting a large amount of stablecoins available for trading, which could influence market movements.

💡Liquidity

In finance, liquidity refers to the ease with which an asset or security can be bought or sold without affecting its market price. The script talks about fresh liquidity entering the crypto market due to rate cuts, which could facilitate more trading activity and potentially lead to price increases.

💡Whales

In the context of financial markets, 'whales' are individuals or entities that hold large amounts of a particular asset, which can significantly influence its price through their transactions. The video discusses how 73% of Bitcoin is held by private individuals, suggesting that these 'whales' could impact market movements by their decisions to buy or sell.

💡Crypto Winter

Crypto winter is a term used to describe a prolonged period of declining prices in the cryptocurrency market. The video refers to the 'six months of crazy sideways' as a crypto winter, indicating a time of market stagnation or decline.

💡DeFi

Decentralized finance (DeFi) refers to financial services that are built on blockchain technology, allowing for trustless and permissionless transactions without intermediaries like banks. The video touches on the topic of DeFi, particularly in relation to Ethereum, and the potential for new DeFi applications to emerge.

💡Solanoz

Solanoz is a term used in the video to refer to the Solana blockchain, which is a high-performance blockchain platform for decentralized apps and cryptocurrencies. The script mentions Solanoz's price increase and its development of 'network extensions,' which are a form of scaling solution distinct from layer 2 solutions used by Ethereum.

Highlights

Bitcoin and altcoins are recovering with Bitcoin up 2%, ETH up 2.7%, and other coins showing significant gains.

A 'perfect storm' of events is anticipated to unfold until the end of the year, potentially impacting the market.

Historically, Bitcoin price rises when rate cuts occur, contrary to some misinformation.

US elections approaching in 65 days, which often correlate with market pumps.

FTX is set to distribute $16 billion in stablecoins, which could stimulate the crypto market if not hindered by SEC.

Gold prices are at an all-time high, often moving in tandem with Bitcoin.

The total market cap of stablecoins is at an all-time high, indicating potential for liquidity to enter the market.

73% of all Bitcoin is held by individuals, suggesting whales aim to shake out retail investors through market volatility.

The upcoming rate cuts and elections are seen as catalysts for a market rally.

The Western governments' stance on financial freedom and capital control is a growing concern.

Financial repression and capital controls are likely responses to sovereign debt crises.

Crypto, particularly Bitcoin, is positioned as a hedge against financial repression and capital controls.

Ethereum's daily revenue has dropped significantly, yet on-chain activity is reaching new highs.

Solana is introducing 'network extensions', a move that has sparked debate within the community.

The potential for AI tools to democratize app and smart contract creation, but also increase the risk of hacks.

The importance of on-chain trading and the potential for new financial applications on Ethereum.

Discussion on the future of social media platforms and the potential for blockchain-based solutions.

Transcripts

button we are starting to show as soon

as possible oh yes oh yes oh yes oh yes

guys welcome to another episode and as

you can see right now Bitcoin and allins

are recovering we have Bitcoin plus 2%

eth plus 2.7 we have B&B plus 5.4

solanzo coming back with 4.3% we have

Doge even doge is pumping back up so the

market is coming back the market is

Awakening the market is starting to move

its feet to the upside that's what we

want to see but most importantly we are

witnessing a perfect storm an

unbelievable I would even say an

unbelievable Perfect Storm of events

that will unfold in the coming weeks and

months basically until the end of the

year most people cannot be patient

enough to see the big picture they're

scared they're selling they're shaking

out but if you just look at the

situation we have the following we have

16 days away from potential rate cuts

and they will happen like the the rate

Cuts will will will happen within 16

days and when rate Cuts happen bitcoin

price goes up okay very important it

goes up some people spread

misinformation fud and uncertainty that

when rates Cut Rate cut happens that

that that the Bitcoin price goes down

but in reality you look at history

whenever rate cut goes down bitcoin

price up rate cut happens up race go

down Bitcoin up this is very important

and that's going to happen within the

coming two weeks next we have us

elections just 65 days Days away and

always look at the chart you overlay it

with when elections happen you have

massive massive pump also look here we

have 16 billion in cash handed out by

FTX FTX is Distributing all of the money

in stable coins if the SEC doesn't mess

the process up because SEC is trying to

mess it up they're saying that a

distribution in stable coin can be a

security it sounds insane but we we read

it yesterday remember the story from

yesterday the SEC basically said to FCX

listen you are a security if you are

Distributing this this proceeds this

bankruptcy proceeds in stable coin I

mean this is the kind of psychopath

Psychopathic Behavior we're witnessing

but likely they will distribute 16

billion in cash to crypto digits and

listen if you lost money in FCX what are

you going to do are you going to take

that money and go to to the bank You're

Going to exit crypto it's not going to

happen every everyone who gets money

from FTX they're going to put it back

into crypto they're going to put it back

into Bitcoin into eth into salana and

all of that good stuff so this is

basically a helicopter money you can say

a stimulus check stimulus check to this

whole industry next gold prices at an

alltime high and gold and Bitcoin go

hand in hand Global M2 money supply is

rising so when they print a lot and

they're going to print a lot guys in the

coming weeks and months they're going to

print like never before they're going to

decrease the rates is going to be money

machine machine money printer machine

back to 100% delivery next you have the

total market cap of stable coins is at

alltime high meaning that there is a lot

a lot of stable coins ready with one

click on a button on a DEX to be swapped

into other assets with one click of a

button on the Dex a stable coin becomes

an asset and pumps the price next fresh

liquidity is entering the crypto Market

due to the rate rate cuts and du to the

easing after month of months of waiting

we're finally getting close to a massive

rally and me we deserve it exactly I

mean totally agree because we've been

through a lot guys we've been through

six months of crazy soon six months of

crazy sideways and things are going to

happen very very quickly in the coming

in the coming weeks and look here

73% of all Bitcoin is held by

individuals why do you think we have

this spooky and insane price uh price uh

performance where normal people cannot

handle it why is it so that we have it

why is it so because whales want to

shake you out I mean that's the whole

idea 73% of Bitcoin is held by private

individuals why is it so painful to be

in crypto that's that's by Design there

are only two ways the whales can shake

them out the private individuals you and

I dump to scare them or pump to promote

exit remember this they are shaking the

the tree to get loose apples so the

question is will you let go of your lose

apple or not or not or going to hold the

Apple which is the Bitcoin in this case

anyway guys we have a lot a lot to

discuss welcome everyone who is watching

live Smash Up the like as soon as

possible big shout out to Guzman who is

time stamping us today I see Matt in the

chat I see crypto King I see rabbit

welcome welcome welcome subscribe to the

Channel smash up like and as always

check out the bit link below if you're

new to trading if you're new to this

industry you need a platform where you

can trade altcoins you can trade the

Bitcoin you can use spot markets to

trade spot or you can use leverage in

order to uh trade derivatives and it's

really up to your risk manager you

should start with spot and learn normal

trading once you are ready then you can

move move on to leverage but be

extremely careful because leverage can

maximize your gains a lot it can also

wreck you so only use it if you know

what you're doing but if you click the

link below you get a very nice sign up

bonus so you can get your first Trad

going and as always you can go long you

can go short you can make money on

crypto pumps or dumps in both directions

and using the link below you do support

the channel looking at the overall

Market Let me refresh Morales Manu we

have 4.6 th000 coins printed in the last

24 hours I mean the the money printer

goes goes on in the Fiat Fiat world but

also in the meme world we have the money

printer go go warm every day we have

4.68 I mean on average it's interesting

on average it is between four and 5K

coins that are printed per day if you

follow Morales money you know it by

heart now soon we are above 2 million

coins tracked across different chains in

terms of the new coins that are uh that

are new to trending you have Koto games

found by trending algorithm two hours

ago you have GameStop you have sushi as

well new in the trending also we have

our first sponsorship here which is Mad

Coin mad by the way is looking very good

in terms of the TA if you can get

support around this this level and then

pump back up is going to be fantastic

currently up 18% on in the last 24 hours

and so looking at the market you see

that there's always winners if you know

what tools to use use Morales money for

example you have tuer tuer pumping like

hell 79% 79% since it it got into

trending four hours ago you have Doge

sister up 40% since it got into trending

five hours ago I mean this is the thing

Reddit dog the same thing so use Morales

money.com is fully free you go there and

you just check what's trending you see

what's trending and what is still not uh

uh not high up in the price uh like here

are some examples with Nakamoto still

not too high up because a lot of a lot

of times you come look another one Coq

Coq in you let me know if you if you

like Coq in you but this thing still

hasn't expanded since nine hours ago it

is ining still hasn't expanded let's see

if it will expand um and it's a massive

also Joe see Avalanche tokens seem to be

seem to be feeling the power on chain

but not in the price uh both Coq and Joe

is isn't trending but still not pumping

in the price let's see how that will

evolve and um we're monitoring the

market every day guys I me that's why

you come here I can give you a condensed

a condensed snapshot of the market right

now but in order to be independent you

have to analyze the markets yourself you

have to know have the tools and and know

how to do it every hour every 30 minutes

basically during the day yourself so

hope that makes sense next look here we

have Kevin Sanson coming out saying that

Bitcoin is on track Bitcoin is on time

you look at the timing from the hobing

until we smash alltime high and really

do it constantly because Bitcoin hasn't

smashed previous Cycles alltime highs

constantly yes technically we have put

in a higher price but we've been there

for like a second and then we went down

so this's the thing we have 40 weeks

normally between the Hing and when we

smash the alltime high confidently 40

weeks this was in 2017 cycle then in

2020 it was 30 weeks right now we're at

35 weeks uh sorry right 35 weeks would

be here basically at the end of 2024 so

we are on time you take the average

between 2016 and 2020 you get 35 weeks

uh between the hobing and the and the

massive pump and we're still we're still

uh weeks away from that like months away

from that it's going to be towards

basically November and so if it is the

case that you are patient you see the

big picture you see that many things are

exactly on time and exactly on track and

this is where I have to get um a bit

serious because we are seeing right now

the world change before our eyes I mean

you see what's happening with pav Duro

and telegram the Western governments

want to crush crush Free Speech crush

this telegram end to end messaging and

all of that encrypted messaging and so

they don't like privacy they don't like

Financial Freedom if you have Financial

Freedom and you may be asking why why is

it so that they're so harsh against

Communications against social media they

want to jail Elon Musk there was a

article in Guardian in the UK that they

want to jail Elon Musk for not censoring

social Med media and next is going to be

crypto guys because they don't like that

they don't don't control the speech and

they don't like that they don't control

the capital because they have to control

Capital this is very important the

Western economies are massively in debt

you have a big problem with sovereign

debt crisis whether you look at the us

whether you also look at EU in many

cases so Financial repression is coming

this is where we really have to get

serious because this is this is not not

a joke like you know normally we joke on

the channel but this kind of thing is

it's not a joke it's not a joke this is

maybe the main reason to have crypto at

least a bit of crypto because you don't

know what's going to happen and for the

Western World this may be a new

phenomena but if you come from Argentina

you come from Venezuela you know that

the government can basically change the

rules overnight they can say okay all

your dollars we convert it to the

National currency and then we deeg it

from the dollar and you lose like 70% of

your money it happened in Argentina was

it what is what was it called coralito

or something you can go Google it it

happened exactly like this so uh

Financial repression is coming the

Western governments will begin Capital

controls before the sovereign debt

crisis this means they will control the

flow the the flow in and out of

financial instruments basically that

whatever you want to buy they will have

an opinion you want to buy foreign

currency why you don't want to support

National currency maybe you're traitor

you don't want to support the national

thinking currency you're a Speculator

you're Speculator you're speculating

against the economy we are going to take

your money and we're going to restrict

what you do with it that's going to

happen the only option you have is to

buy physical gold outside the system

that's option one the problem is that if

you have to leave you have to go to

another country is going to be

challenging to bring it all with you I

don't know how you're going to bring it

where you going to put it in what Hall

to carry it outside but you will have to

figure it out somehow or you can buy

Bitcoin and and hold it in Cold Storage

which is literally remembering 12 words

okay everything else will be under

Capital control allowing the governments

to use Financial repression to

deleverage their 120 debt to GDP ratio

basically bail is going to be bail in

it's going to be bailing in very

important uh we will discuss it in the

office as Mar so follow Mar for because

I think this is something that more

people need to be speaking about I

haven't seen too many people speak about

but this is important and no Bitcoin

ETFs or gold ETFs and paper gold don't

count because they applied in cash

Capital control around the instrument

instead of in kind so basically if they

want to control what you do with your

Bitcoin ETF they can easily do that I

mean just imagine you're trying to log

into your brokerage and you can't log in

it just says you know technical error

what do you do what will you do because

if it is the case that we see Capital

controls things like this will be normal

you cannot access your brokerage account

or you log in but you cannot move

because it's restricted all of that so

obviously Bitcoin EF and gold ETF

doesn't count only selfcast the Bitcoin

or physical gold held outside the

country will protect you very very

important and again many people don't

speak about it they don't think it's

it's possible but you see where the

where the economy is heading you see

where the national debt in many

countries is heading there is going to

be not too many options to fix it and

the capital control is going to be one

of them and the the sad thing is that

they're still going to fail I mean

that's the thing they will try with

capital control they will try to take

the wealth of the citizens but at the

end of the day they still gonna fail

because this never works like that's the

thing if the fundamentals are bad and if

you have an economy where the government

is spending too much it doesn't matter

how much Capital control you have it's

still eventually going to collapse so

that's that's the worst part that uh not

only do they restrict you they take your

funds it still collapses anyway and so

it doesn't help it just prolongs it a

bit now looking at Bitcoin what is

interesting is that we discussed the

seasonality of Bitcoin and that's that

September is normally bearish however

April is normally bullish and we had the

bearish April so some people are saying

maybe it is copium maybe it is not

copium but some people are coping saying

that potentially because we got a

bearish April which is normally bullish

September is going to be bullish let's

see in my mind it's a bit of a copium

but listen I mean in crypto we're we're

coping every

day we're coping every day so why not I

love this I love this let's let's see

how it will unfold now another piece of

copium I can give you is that looking at

September 2023 and September 2024 you

see massive massive massive similarity

where it was crazy sideways and here it

was from April until October basically

crazy sideways and at the end of

September it broke up as you can see

here and right now we're witnessing the

same crazy sideways we enter September

it's still sideways and at the end of

September Boop we will break up and

potentially like if we can get to 180k

by April is fantastic that's that's the

opum I'm speaking about this this is the

copium I like fantastic now another

piece of copium is looking at the Cycles

you have the fouryear cycle with a with

a pump dump sideways and then pump okay

so right now we've been through the dump

we've been through the sideways and now

as you can see normally the last year in

the cycle is massive massive pump and we

still haven't had it so another piece of

piece of opium and let me know if you

enjoyed the hopium because I think it's

fantastic look here another piece of

hopium which is fantastic we have have

the stock to flow as you know stock to

flow each and every hobby it restarts

and when it restarts we get this red

months red months that's when it um

that's when it restarts and the closer

you are to the Hing uh the more red it

is and the further away from the Hing

you you go then it changes color to like

yellow and green and blue as you can see

as we get further away from each Hing

the price massively pumps here it pumped

from Red into orange massive massive

pump here from Red into Orange Mass

massive massive pump here from Red into

orange massive massive pump so as you

can see we're we're right on track Tick

Tock the clock is scking and the stock

to flow is going to tick to the upside

likely likely it's going to tick to the

upside now guys let's switch gears a bit

let's go to eth as you know vitalic has

a girlfriend and the chi the chi power

is lost a bit however we're not giving

up we're we're following e and also e

Foundation is dumping on us even man is

even dumping on us that's the thing even

vitalic is dumping on us um it's crazy

it's crazy but there are some

interesting things happening and that's

that the ethereum Onin activity re is

reaching new highs so we have quite a

lot of growth in Onin activity at the

same time as the fees are super cheap I

don't know if you've been using eth

lately but it is quite remarkable how

cheap it is it it's insane like for a

few cents you can send like around 40

cents you can swap it's it's it's quite

remarkable basically what has happened

is that a lot of the a lot of the fees

came from the l2s when L2 settle on L1

uh you had massive competition for Block

space and so now what has happened since

a few months ago is that l2s they settle

into another data store that is not

affecting the price for transactions so

L2 settlement don't compete with your

swaps for the block space so you don't

have the same kind of fee so this is

very interesting that yes ethereum daily

revenue drops to 2024 low down over 90%

so basically how much fees people are

paying but it would be bad if this

happened and then activity also dropped

because it means that people use the

blockchain less like people don't use it

as much so the revenue drops fees drop

that would be bad however we see vice

versa we see the fees dropping so the

revenue of the chain is dropping

90% but the activity goes parabolic okay

and and that's why interesting and so

when we are seeing this it's it will be

interesting to see new generations of

dabs built on eth because I think that's

the biggest problem now there's just

nothing built there like nothing is

built there it's it's all on L2 and all

of that but can we get something on L1

let's see but eth right now is playing

catchup it is clear and I mean the

problem I think also the problem is that

vitalic does not like defi he said that

defi is oroboros do you know oroboros it

is this snake that is eating itself if

you've been on crypto Twitter I'm sure

you've seen it but basically vitalic

said that you know this kind of oroboros

defi is defi yield is coming from people

borrowing money in order to speculate on

crypto so that's why he's saying that

it's like snake eing itself that you

know defa yes you have yield great but

where does the yield come from is from

other crypto related things for example

from E staking or from people borrowing

funds to go digon to go to go leverage

and so people have been joking about

this Ora borus and now depending on what

person you are you're either thinking

about the situation as this Ora borus

and then you're sad or you're thinking

about this this happy

elephant which is communicating the same

the same kind of situation that you have

this Ora borus but in two different

formats let me know which one you like

more but it's all a Ponzi according to

guy Gart now uh whether you are on this

side on that side the most important

thing is that we're right now in a

situation where the world is changing

rails we go from traditional try rails

into the crypto rails and then you have

the same kind of Dynamics in Fiat as in

crypto because if you think about it

Fiat yield it's also coming from Fiat

related activities whether it is from

treasuries whether it is from other

things it's all from fat related

activities so the fact that crypto yield

comes from crypto related activities

whether as the Ora Boris or elephant it

is basically the same it's it's it is

the same same kind of system but with

new rails and I think that's why a lot

of people still still have this

dissonance they they don't see the value

in crypto because they see crypto as an

add-on to Fiat and if you just look at

crypto as an add-on to Fiat then I can

understand that maybe this doesn't make

sense that all of the demand for crypto

yield is coming from um is coming from

onchain activity if you just look at it

as as as Fiat being Eric requirement

Fiat involvement being a requirement in

crypto then I can understand that you

think it's or boros but if you think

that okay now we have a new economy a

new ra new rails a new Financial

ecosystem then it makes perfect sense

anyway moving on from the Ora boros next

solanzo pumping very very nicely 3.7% at

$134 right now what is important with

Solano is that they have launched this

this kind of network extensions now

they're not calling them two very

important there's a whole debate now

whether solanzo is gaslighting a bit

because they have l2s kind of l2s but

they don't call them l2s they call them

Network extensions and so if if

Community is going nuts they're saying

that Solana has been hating on l2s but

now they're doing l2s themselves this

and that uh but listen at the end of the

day uh I think it's all about how they

do it there's a lot of uh outrage

there's a lot of outrage in the E

Community that's Solana is doing kind of

l2s but at the end it's all about

application because the application in

eth is that you just have an eth copy

which is L2 and everything is fragmented

if Solana can do something that is kind

of like L2 but it doesn't fragment maybe

it's just you know some op chain comput

I I don't know really what the use case

here is going to be exactly but if they

can make it so that it's it's not

extracting value from the L1 but instead

it's just adding things and it doesn't

break compossibility maybe the is room

for this network extensions but just so

you know guys they're not l2s if you

want to be correct if you want to be

correct within solanzo you don't call

them l2s they're Network extensions that

that's the name while the underlying T

might resemble Bitcoin or E l2s the

functional role is so radically

different that I think Founders would be

best would best be served by Network

extensions I think it depends really how

you use them if you just copy the whole

Solana into a network extension then

it's like e then is going to to be

exactly like it but my understanding is

not really what they what they're going

to do uh Network extensions extend the

Sol Network to new places or bring new

execution environments specialized

processing to network State compression

cnfs news evm layer maybe even Phoenix

all fit this mental framework I I don't

know if evm like plugging evm into it

fits I don't know man if plugging evm

fits into it this maybe fits into it

like this state compression or or some

the cnft stuff maybe that fits into it

but you know to let's see let's see at

the end of the day so needs to be

careful here not to repeat the same

mistake as e did with fragment

fragmenting the liquidity fragmenting

the incentives maybe this is the most

important thing fragmenting the

incentives because the incentive of a

layer two founder and layer two team is

not necessarily the same as the

incentive of a layer one I think that's

what eth is discovering right now where

a lot of things that could have happened

on eth now happen on l2s and eth is kind

of a hostage in a way where all the l2s

they say oh we're eth we're Kumbaya but

then they try to like take as much as

possible from eth in terms of the

sequencing fee and all the different

things that could have been add adding

value to the eth network and if if is

let's say L1 would say we don't need l2s

now you have all of them as against you

okay so that's why I'm saying it's a bit

of a hostage environment where you

basically need to now pretend that you

level2 even if you kind of change your

mind you can you cannot really change

your mind because then you're going to

have all of them against you so that

that's the main thing to not mess up the

the incentives Solana needs to preserve

the incentive that the uh Solana

incentive is the same as this l2s am

guys let's evolve let's continue let's

see how this evolves let's see how the

situation will progress but interesting

to see all of the uh Innovation we have

Innovation happening here and there this

network extension let's see how they

going to how they're going to get

adopted and finally before the q& name

you know that there's a lot of AI tools

right now there's a lot of AI tools you

can create the apps with AI there is

this new tool called the cursor cursor

AI all of the devs going nuts about it

it can create you an app in a few you

just type to it and it creates you an

app it's it's kind of high quality

nowadays this uh clae and cursor but we

will see a lot of hacks due to it

because many people are not going to get

empowered to create daps apps mobile

apps smart contract all of that many

people going to get empowered but

there's going to be a period of time

where these tools are not they're

they're almost perfect but not fully

perfect and so many people get empowered

they use this imperfect tools and they

leave a lot of Halls security Halls open

for who North Korean North Korean IT

workers and this is the picture of North

Korean IT workers looking at your silly

little DB and small contract you made

with cloud and cursor now cloud and

cursor I think is great in the current

stage is great when professional devs

use it because it can really speed you

up like never before this like

especially the cursor the latest one um

it's fantastic it's fantastic but I see

a bit of a danger where like 10

year-olds use it because I I've also

seen a video where a 10-year-old creates

like a mobile app I mean it's great it

works that's the thing the tool is

almost perfect it works but do you know

all the security holes do you can it

really POS pass the security audit so

that's that's why uh we may see a lot of

the this hacks increase as these a tools

become more more widespread they're

fantastic if you know how to program

yourself from scratch they're also

fantastic if you don't know how to

program like it is really empowering but

there is a risk to that also now guys on

this note on this note let's go to Q&A

questions answers debates discussions

let's do it let's do it let me pump the

bit and let me know how you're feeling

bearish bullish you think we're going to

pump we're going to dump I mean you you

know my view I'm bullishly biased in

this kind of environment where we are

just past the Hing where we still have

pumped too much where we're still below

the alltime high from previous cycle is

ship like everything is ship guys

everything is cheap it's everything is a

massive massive discount exactly zist is

captured is

captured Trump will replace Ganer

and J well Jamie Diamond he cannot

replace it is public private sector but

Ganer absolutely ganser's got to go if

Trump is Trump is in I hope that's one

of the first things he does to remove

gangster uh curious about your thoughts

on minima's potential to disrupt

traditional social media platforms I

mean my uh my understanding of Minima

it's more of this um you know iot stuff

with the cars and all of that maybe it

can be used for social media as well um

but um my understanding is that's mainly

for this iot kind of related

things but absolutely someone someone

needs to create a robust social media

which is outside of this government

authoritarian uh uh control which we

currently see for example with X being

banned in Brazil uh May the best thing I

think would be that X uses maybe Minima

or something else in order to

decentralize itself I mean that would be

the best move by Elon to take what he

has with X and make it stronger make the

foundation stronger that when you write

on

X no one can ban it no one can ban it

and obviously there are many questions

uh what if someone writes something

horrible or shares something horrible uh

it's very complex questions um I don't

know the answers to all of them but the

biggest threat we're facing is this tot

totalitarian um total

regimes and the clamp down of so-called

democracies on uh on the internet this

is this is the the main thing that's

happening right now that needs to be

that needs to be addressed maybe it is

via pushing uh social on chain I mean I

don't see any other option

because you want it to be technically

impossible to censor and that's what

blockchains are for it's censorship

resistance in its prime I mean literally

it's Prime it's it's exactly what it

what it was uh made

for

um what Innovation would you like to see

take off on E L1 I mean Innovation is

always difficult to predict you know

when you ask what Innovation like you

know that's by definition impossible

question like you know what Innovation

would you would you like whatever

Finance related should be on chain

everything that's trading should be

traded on chain exactly the the form

factor I don't know what what it's going

to be just like we didn't know the exact

form factor of this meme season and and

the nft season before that but just

excitement you know launches activity

people creating new things announcing

new things um building new dabs there

are new websites to go and connect

wallet and like go nuts on I mean that

that's what I want I want more things

happening where you can use and Founders

surprise with Innovation like I'm not

here to innovate myself but it's by

definition impossible to answer you know

what Innovation you want to see but

there are different sectors whether it

is real world asset whether it is AI

gaming like just more stuff happening

maybe more online games where you

connect your wallet on E like stuff like

that um trade but trading is always

going to be key trading is the the main

reason for blockchains to exist it is

money it is trading it is investing and

we shouldn't shy away from that some

people are shying away they're saying oh

no there other I mean even vitalic is's

like we need decentralized Google doc

bro like man crypto is finance and we

shouldn't shy away from it that's why I

think Sol has a bit of Advantage there

also because the founders are so sharp

on that listen we're building Finance

that's it we're building Finance is

decentralized NASDAQ uh Atomic State

machine on on global scale um and uh

whatever they the founders do that

creates more demand for for crypto

crypto apps fantastic so that's what I

want to

see do you guys use Banks now only

crypto fintech for for eban you should

be careful using banks for crypto stuff

but if you use swissborg or tap app or

any of this like uh EU fex crypto EU fex

they are the only they're the only the

only way to do it in a safe way where

you know that you're not going to get

banned because you are in

crypto and they are so good like I love

this whole industry we have of crypto

finex that generate you an eban in your

own name it's

fantastic copying web 2 into web 3 isn't

enough people are happy in web 2 what's

the breakout web 3 up well people are

happying web tube until they get banned

like that's what we're seeing right now

with

X and there are many breakout DBS

already in web 3 I mean everything

related to trading the decks the decks

is probably the looking back at it I

think the uh Dex is going to be the like

Netscape moment of crypto where you can

trade any asset to any other asset it's

fantastic um and you know exact what is

the breakout it's not we need to look at

Trends see that's the same problem

people had with the inant they're like

oh recipe book online but physical book

is better like we cannot even predict

what's what's going to happen on on

chain which use case just like in the

early 90s or late 80s you cannot predict

what internet is going to do and that's

where all of the Skeptics came out and

they said that oh internet is useless

because you know the cookbook you can do

it you know this famous video with Bill

Gates where he's like explaining

different use cases and um the h of the

of the TV show laughs at him

because all of these use cases don't

make sense to him so the same is with

crypto do we know exact what's going to

happen no and we don't have to know

that's the thing we're here to observe

the market whatever will take off is

going to come into trending on moris

money let's refresh see if we get some

more coins we're going to notice it and

then we can take positions in it so you

don't have to be like innovator yourself

do you think this guy should have his

xtren State I I don't know who that is

but no one should be banned from uh from

any social media uh in in in ways that

has happened during the last like 10

years uh because sometimes people are

banned for like it doesn't even make

sense they had some opinion something

that is against the narrative normal

narrative

uh there are there should be different

ways that you can moderate your feed

let's say that I find this kind of

topics annoying or something I should be

able to like easily block all of this

discourse like for

example sometimes uh on X there is there

are violent videos I personally don't

like them I would wish there would be a

button where you click and you don't see

any violence it's still

there but you can remove it yourself

from your own feed I think that that's

what's missing we don't need to ban we

just need to have better

moderation on um uh on uh these

platforms so you can decide yourself

what you want to see and I think we're

missing it now because and that's

probably what upsets a lot of people

presumably corporations and AI will

utilize the fastest blockchains bsv ah

come on bro bsv you're still in

bsv even the courts have said that Craig

is not satosi but I understand you was

good is that you're arguing Tech okay

you're not saying he's the real satosi

but it is in the name that's the problem

bsv is Bitcoin Satoshi Vision but the

guy is provably not Satoshi he even said

it himself because the court ordered him

to say it uh but is it the fastest no

yeah I mean maybe it is but it's

also like you don't have the social

layer bro like that's the thing if you

are honest with yourself the speed

doesn't actually matter it's more the

social layer like no one trusts it no

one he wants to use it like if you're

you're just being honest if you're just

being honest not in the Echo chamber

just honest

hly Tech is maybe 20% of the equation

because all Tech is open source you can

take like bsv or whatever you can copy

it you can have your own like it's Tech

is Tech is almost not important in

crypto believe it or not because again

everything is open source like All Tech

you can take all Tech you can boom copy

paste now you have the tech why don't

people do that Solana open source boom

copy paste why is there only one Solana

because of the social layer so when you

have

bsv and no one likes it because of the

so-call

satosi and no one trusts it because they

also have this freezing of funds that's

why they got delisted from many

exchanges because they could freeze the

funds they added to the chain then it

doesn't matter that it's fast like I'm

just being honest I'm not even like I

have nothing No Malice against you I

have nothing malicious against you I'm

just explaining to you the in um in a

straight forward way that it's uh yeah

you you got to fix the social layer and

I don't know if it's possible in bsv

Never Say Never maybe it is possible but

it would likely have to

Rebrand because again satosi Vision who

is satosi he's not

satosi U likely you need another like

face to it I mean basically you need to

burn it down take the code if you like

the code so much and take the code and

start it from scratch with like a

new with a new ecosystem new everything

and U

yeah I think that that that could work

because technically is there any Merit

having a super fast scalable Bitcoin

like you know Bitcoin on

steroids yes I mean it is interesting

maybe it is it is interesting it's but

again without the consensus social

consensus it doesn't matter that's

that's the

thing anyway

can you talk about how Europeans will

sell crypto for usdt now that Mika is

here I don't know you can still sell it

on all the the apps I haven't noticed

anything I haven't noticed any

difference I haven't noticed anyone the

listing

usdt uh so I'm not sure actually if

there is good going to be any difference

or not at

all um so let's

see but I mean in case it becomes

crazy check check out

vanuato you may have to buy another

passport if if EU becomes too crazy

there is there is a way out with um this

uh investment

citizenships what do you think about the

current market do you think Bull Run oh

it's going to pump like hell number one

is it going to end quicker than we

thought well it hasn't even

started so

yeah bullish the only thing I can tell

you is

bullish off ramps need to be smoother

but suits are always gatekeeping no no

no off ramps we don't need offramp I but

I like when Banks don't don't like

offramp

like we don't want money leaving crypto

why do you want to offramp don't

offramp I like money going into

crypto and then why do you want to

offramp I I I wouldn't

offramp you have your money in the best

system possible which is fully Global

you have full

ownership you don't have to answer

questions when you transfer your own

money so don't offramp onramp you onramp

offramp why you want offramp only on

ramp onramp needs to be smooth offramp

doesn't have to be smooth onramp I I

think it's good that offramp is

complex to pay bills yeah I mean exactly

you need to figure some way you need to

deal with the pain until they start

accepting

crypto uh we need more services that

facilitate this payment of bill with

crypto

absolutely but

still we need more people on ramping

than off- ramping so I understand the

pain but uh let's not have good off-ramp

let's have good

onramp and then we because that's the

thing the more we money is in crypto the

more all of these different Merchants

have to support crypto so by not off

ramping and demanding crypto payment

support

we win so off ramp remove all of

them cut them I would even say cut them

you can only on ramp that's the best

yeah because that's the thing the banks

don't want you to send money from

exchanges which is perfect okay then we

we don't use the bank

then we don't use the bank we use crypto

like it's supposed to be

now the rent how to pay rent you have to

figure it out I'm not here to tell you

how you're going to pay the rent we have

to find some way

man ideally without offramp I don't know

if that's possible you may have to break

some rule of gravity here but uh that's

a detail like the main thing is that

crypto is bigger bigger and bigger and

then the rent and all of that we'll

figure it out

somehow exactly but I love it the banks

are like yeah we're going to stop crypto

no offramp okay perfect that I mean that

that's how I want it I want no offramp

any guys that's it thanks a lot for

being here thanks a lot for contributing

to the show smash a like as soon as

possible subscribe to the show check out

the bit link below and goodbye guys big

shout out to Gman for time stamping us

today and see you to tomorrow well

tomorrow maybe a bit later let's see

because I have started with a personal

trainer and we train in the morning so I

need to figure out maybe it's going to

be a bit later uh anyway we'll keep keep

you updated tomorrow is going to be

something anyway okay goodbye guys bye