Small altcoins with huge potential! (NO TOP 100 COINS) | Crypto market update

Crypto Over Coffee! Weekly Crypto News & Discussion
31 Jul 202127:47

Summary

TLDRIn this episode of 'Crypto Over Coffee', the host discusses the relationship between hash rate and cryptocurrency price, particularly in proof of work systems like Bitcoin. The conversation extends to the impact of hash rate on network security and market attention. The host also shares personal preferences between BlockFi and Celsius, highlighting reasons for favoring Celsius. The discussion delves into the concepts of bulls and bears in the crypto market, emphasizing the importance of market sentiment. The episode further explores various altcoin projects outside the top 100 market cap, focusing on NFT projects like Terra Virtua and Effinity, interoperability efforts such as Icon and Cardano, and DeFi innovations including Osmosis and Secret Network. The host also touches onmiscellaneous projects like Unibright and Zeitgeist, providing insights into their unique offerings. The segment '404 Logic Not Found' critiques a negative op-ed on cryptocurrencies, advocating for balanced viewpoints and understanding of the technology.

Takeaways

  • 🌟 The episode focuses on interesting altcoin projects outside the top 100 market cap coins, aiming to educate rather than encourage impulsive buying.
  • 💡 Hash rate in proof of work cryptocurrencies has an indirect relationship with price, affecting miner profitability and network security.
  • 📈 The presenter prefers Celsius over BlockFi for its competitive reward rates and robust security measures.
  • 🐻🐂 The terms 'bulls' and 'bears' are used to generalize market sentiment rather than representing two distinct groups with opposing interests.
  • 🟢 The recent uptick in crypto markets is attributed to waning fears around Grayscale's GBTC shares unlock and periods of accumulation at low prices.
  • 🎨 Terra Virtua is highlighted for its focus on enhancing the user experience and interaction with NFTs, offering both desktop and mobile applications for immersive experiences.
  • 🔄 Effinity is an upcoming project aimed at achieving true interoperability for NFTs, allowing seamless and secure transfer across different blockchains.
  • 🔗 Icon is working on its 2.0 version and the Blockchain Transmission Protocol (BTP) to enable communication and transactions between different blockchain networks.
  • 💸 Osmosis and Secret Network are mentioned as promising DeFi projects on an interoperability ecosystem, offering innovative solutions in AMM and privacy-respecting applications.
  • 🚀 Cardano's ADA token holders are encouraged to delegate to the presenter's stake pool, with the ticker symbol H4SH, to support the show.
  • 🛑 The segment '404 Logic Not Found' criticizes a biased and illogical op-ed piece against cryptocurrencies, emphasizing the importance of understanding before criticizing.

Q & A

  • What is the main topic of today's episode of 'Crypto Over Coffee'?

    -The main topic of today's episode is discussing interesting altcoin projects outside of the top 100 market cap coins in the cryptocurrency world.

  • How can hash rate impact the price of proof of work cryptocurrencies?

    -Hash rate can indirectly impact the price of proof of work cryptocurrencies like Bitcoin. As hash rate rises, the difficulty in mining also increases, causing miners to put in more effort to maintain their share of the hash rate. This affects their profit and loss margin, leading them to potentially sell more of the cryptocurrency to cover costs, which can influence the market price.

  • What are the two NFT projects mentioned in the episode that are outside the top 100 market cap?

    -The two NFT projects mentioned are Terra Virtua and Effinity. Terra Virtua focuses on improving the user experience and interaction with NFTs, while Effinity aims to provide a cost-effective, secure, and widely interoperable NFT platform.

  • What is the Blockchain Transmission Protocol (BTP) and its significance in the development of ICON project?

    -The Blockchain Transmission Protocol (BTP) is a general-purpose communication protocol that allows different and heterogeneous blockchain networks to communicate with each other through relayers to the ICON network. This enables ICON's blockchain to openly communicate and exchange transactions with other blockchain networks that integrate using BTP, making ICON a hub for cross-chain communication.

  • How does the Osmosis project contribute to the DeFi ecosystem?

    -Osmosis is a cross-chain automated money maker platform (AMM) that leverages a liquidity pool mechanism. It allows for the exchange of cryptocurrency pairs across different blockchains and provides liquidity providers with ample rewards for participating in the protocol, thus enhancing the DeFi ecosystem by facilitating cross-chain transactions and liquidity provision.

  • What is the primary goal of the Bumper project in the cryptocurrency space?

    -The primary goal of the Bumper project is to provide volatility insurance or protection for crypto holders and users. It shields them from downward volatility while preserving their ability to benefit from upward price swings, functioning almost like an insurance policy for users with exposure to highly volatile cryptocurrencies.

  • How does Unibright aim to help enterprises adopt blockchain technology?

    -Unibright provides a highly abstracted set of tools and platforms designed to help enterprises, even large ones like Coca-Cola, adopt blockchain technology. It allows them to leverage the benefits of a public blockchain while also maintaining some data and transactions privately, making it easier for these organizations to integrate blockchain solutions into their operations.

  • What is the concept behind the Zeitgeist project and its role in prediction markets?

    -Zeitgeist is building a platform for prediction markets, where entities can pose questions or hypotheses, and others can buy shares in a new prediction market based on their predictions or beliefs regarding the given question. An oracle provides the definitive result, and those with the correct prediction get rewarded proportionally to their shares. It also includes a mechanism for resolving disputes in a decentralized governance court or tribunal.

  • What criticism is highlighted in the '404 Logic Not Found' segment of the episode?

    -The '404 Logic Not Found' segment criticizes an op-ed piece from The Hill titled 'Bye-Bye Bitcoin It's Time to Ban Cryptocurrencies'. The criticism is centered around the author's apparent lack of understanding of cryptocurrencies and the assertion of negative viewpoints without providing a balanced perspective or understanding of the technology.

  • What advice does the host give to viewers regarding the mentioned altcoin projects?

    -The host advises viewers not to rush into buying the mentioned altcoin projects but to use the information as a starting point to learn more and determine if these projects align with their own interests and investment strategies. The focus is on education and understanding rather than impulsive investment.

Outlines

00:00

📺 Introduction and Hash Rate Discussion

The video begins with a welcome to the 'Crypto Over Coffee' series, where the host discusses the latest news and hot topics in technology and cryptocurrency. The main topic of this episode is about interesting altcoin projects outside the top 100 market cap coins. The host also encourages viewers to engage by leaving comments and questions. A key question addressed is the relationship between hash rate and cryptocurrency price, specifically in the context of proof of work cryptocurrencies. The host explains how hash rate affects mining difficulty and subsequently the profit margins of miners, which in turn can influence the selling pressure and thus the price of cryptocurrencies. The segment also touches on the security aspect of hash rate and its role in attracting media attention.

05:01

💬 Platform Comparison and Market Sentiment

The host continues the discussion by comparing two cryptocurrency platforms, BlockFi and Celsius, based on user experiences and reward rates. The preference for Celsius is highlighted due to its competitive rewards and robust security measures. The episode also addresses the concept of 'bulls' and 'bears' in the context of market sentiment, explaining that these terms are more about generalized market conditions rather than distinct groups of people. The host advises viewers to consider overall market sentiment and their own market outlook rather than simply categorizing investors as bullish or bearish.

10:02

🚀 Special Episode on Altcoins

The host announces a special episode focused on altcoins that are not part of the top 100 cryptocurrencies. The goal is to introduce viewers to lesser-known projects and encourage them to research and understand these projects rather than rush into investments. The first category discussed is NFT projects, with 'Terra Virtua' highlighted for its focus on user experience and interaction with NFTs. The project offers a platform for issuing, interacting with, and exchanging NFT assets and addresses high fees through its platform. The host also mentions 'Effinity', an interoperability blockchain project aimed at creating cost-effective, secure, and interoperable NFTs.

15:04

🌐 Exploring Interoperability and DeFi

The host delves into the world of interoperability, starting with 'ICON', a project aiming to create an interconnected network of blockchains. The upcoming ICON 2.0 and the Blockchain Transmission Protocol (BTP) are expected to bring significant improvements to the network. The host also discusses 'Cardiac Chain', which leverages a sharded blockchain network architecture to sync with external blockchains and enable cross-chain smart contracts. In the DeFi space, 'Osmosis' and 'Secret Network' are mentioned as projects with unique offerings, such as cross-chain AMM and privacy-focused financial services, respectively. 'Bumper' is introduced as a project providing volatility insurance for crypto holders and users.

20:05

🔍 Miscellaneous Projects and 404 Logic

The host wraps up the episode by highlighting several miscellaneous projects that don't fit neatly into a specific category. 'Unibrite' is mentioned for its efforts to help enterprises adopt blockchain technology while maintaining some privacy. 'Zeitgeist' is discussed as a prediction market project that allows users to buy shares in a new market based on a hypothesis and get rewarded based on the correct prediction. The '404 Logic Not Found' segment critiques a negative op-ed about cryptocurrencies, arguing that the author's lack of understanding of the space invalidates their assertions. The host emphasizes the importance of balanced viewpoints and comprehensive understanding before making bold claims about any subject.

Mindmap

Keywords

💡Cryptocurrency

Cryptocurrency refers to digital or virtual currencies that use cryptography for security and operate on decentralized networks, such as blockchain technology. In the video, the host discusses various aspects of cryptocurrencies, including their market dynamics, the relationship between hash rate and price, and different projects outside the top 100 market cap coins.

💡Hash Rate

Hash rate in the context of cryptocurrencies refers to the speed at which mining operations can perform the necessary computations to validate transactions and add new blocks to the blockchain. A higher hash rate means more computational power is being applied to the network, which can affect the difficulty of mining and, indirectly, the price of the cryptocurrency.

💡Market Cap

Market capitalization, often referred to as market cap, is the total value of all the outstanding coins of a particular cryptocurrency and is calculated by multiplying the current price of the asset by its circulating supply. It is an important metric used to compare the size and value of different cryptocurrencies.

💡Proof of Work

Proof of Work (PoW) is a consensus algorithm used by many cryptocurrencies, including Bitcoin, where miners must perform complex calculations to solve a cryptographic puzzle. The first miner to solve the puzzle gets to add a new block to the blockchain and is rewarded with the cryptocurrency. This process requires significant computational power and energy consumption.

💡Staking

Staking in the context of cryptocurrencies refers to the process of participating in the proof of stake (PoS) consensus mechanism of a blockchain network by holding and 'staking' a certain amount of the cryptocurrency in a wallet to support the network's operations, such as validating transactions. Stakers can earn rewards for their contributions to the network's security and functionality.

💡NFT

NFT stands for Non-Fungible Token, which is a unique digital asset that represents ownership of a specific item or piece of content, such as digital art, collectibles, or virtual real estate. Each NFT is one-of-a-kind and cannot be exchanged on a one-to-one basis with another NFT, unlike cryptocurrencies which are fungible.

💡Interoperability

Interoperability in the context of blockchain refers to the ability of different blockchain networks to communicate and exchange data with each other. This is a crucial aspect for the growth and mass adoption of blockchain technology as it allows for seamless integration of various blockchain services and platforms.

💡DeFi

DeFi stands for Decentralized Finance, which is a financial ecosystem built on blockchain technology that aims to provide alternative financial services such as lending, borrowing, and trading without the need for traditional intermediaries like banks or brokerage firms. DeFi platforms are typically open-source and allow for financial transactions and interactions in a trustless and transparent manner.

💡Prediction Markets

Prediction markets are platforms where individuals can buy and sell shares based on the outcome of events or the resolution of questions or hypotheses. These markets function as a mechanism for forecasting, as the prices of shares reflect the market's collective belief about the likelihood of different outcomes.

💡404 Logic Not Found

This is a segment in the video where the host highlights and critiques illogical or poorly reasoned arguments related to technology or cryptocurrencies. The name is a play on the '404 Not Found' error message used in web browsing to indicate that a requested resource could not be found, symbolizing the lack of logical content in the critiques being addressed.

Highlights

The relationship between hash rate and cryptocurrency price, particularly in proof of work cryptocurrencies.

How an increase in hash rate leads to a rise in mining difficulty, affecting miner's profit margins and potentially leading to more selling pressure.

The security aspect of hash rate and its role in attracting attention to the cryptocurrency world.

A comparison between BlockFi and Celsius, with a preference for Celsius due to its competitive rewards and security features.

The explanation of market sentiment in terms of bulls and bears, and how these terms generalize market conditions rather than representing distinct groups.

A warning about potential scams in the comments section of crypto-related content.

A special episode focused on altcoins outside the top 100 market cap, aiming to educate rather than encourage FOMO.

Terra Virtua's innovation in improving the user experience and interaction with NFTs, including 3D characters and immersive experiences.

Effinity's goal to create a cost-effective, secure, and widely interoperable NFT ecosystem.

The importance of interoperability in blockchain technology for mass adoption and its impact on the future of the crypto market.

ICON's development and adoption of the Blockchain Transmission Protocol (BTP) for heterogeneous blockchain networks to communicate with each other.

The potential of Osmosis as a cross-chain AMM with a well-designed user experience and implementation.

Secret Network's privacy by default approach and its recent launch of SeFi, a secret voting application.

Bumper's volatility insurance solution for crypto holders, protecting from downward price swings while allowing for potential upside.

Unibrite's efforts to provide enterprise tools for blockchain adoption, including partnerships with major brands.

Zeitgeist's prediction market platform, allowing users to buy shares in predictions and be rewarded based on correct outcomes.

A critique of a cryptocurrency takedown op-ed piece, highlighting the importance of understanding the subject before making bold assertions.

Transcripts

play00:00

ladies and gentlemen people of the

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internet welcome back to yet another

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episode of crypto over coffee i hope

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you're doing well today

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if you're new here every saturday we

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break down the latest news and the

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hottest topics in the world of

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technology and cryptocurrency

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over a cup of delicious coffee that

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being said in today's episode i'm

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talking about some of the most

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interesting altcoin projects outside of

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the top 100 market cap coins that you

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hear about all the time

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so make sure you stick around till the

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end of the video to hear about all of

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them

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now as always let's kick it off with

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questions from you the awesome folks who

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support crypto over coffee

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so if you want one of your own questions

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answered make sure you leave them in the

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comments below of the youtube video

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tweet me at hishoshi4 and if you would

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be so inclined

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please do subscribe to the channel and

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hit the bell notification button

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or follow the podcast on your platform

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of choice so that you can get a heads up

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on

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whenever i post new episodes of crypto

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over coffee across those different

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platforms

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and finally if you are a cardano ada

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holder please do consider delegating to

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my stake pool

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with the ticker symbol h4sh so a big

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thank you for that in advance all right

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so let's go ahead and dive into the very

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first question and this is from

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crypto domain sale my question is what

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relationship is there between

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hash rate and cryptocurrency price so

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this is an interesting one and i think

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this is mostly referring to of course

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proof of work cryptocurrencies where

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hash rate

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is derivative of sort of the total

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number of miners how much compute power

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is being pushed through the network

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and of course working to solve those

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cryptographic puzzles or

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solve for proof of work now hash rate

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has a relationship to price in a very

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tangential way

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so the as hash rate rises so does

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generally the difficulty in proof of

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work protocols like bitcoin

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as that difficulty rises miners have to

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put in

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more effort relative to the rest of the

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network to

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maintain their share of the hash rate

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and subsequently mine

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a block and when they mine a block they

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get rewarded so that affects the profit

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and loss margin so the profit margin

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for a given uh minor in the bitcoin

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network

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and so it does have an impact on price

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because

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when you are going through and you are

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you're hashing and you're spending all

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of this money you're spending these

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resources you're consuming electricity

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in order to

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to mine a block to get rewarded you of

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course are going to be more likely to

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sell bitcoin in order to cover costs the

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more costs you are going to have

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so hash rate has a relationship there

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but also hash rate does play into the

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security of the network which is a

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positive thing

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hashrate also plays into um sort of

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pushing

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more and more and more and more

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attention

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towards the cryptocurrency world and

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towards bitcoin particularly which is

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not a design thing that's just something

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that happens as hash rate hits new

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milestones

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news outlets start talking about it what

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have you so there are both positive

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and negative potential implications to

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hash rate

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but in a general sense hashrate does not

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unilaterally dictate price it's a very

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indirect uh an indirect metric that that

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affects price and it's really based off

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of miners activity in terms of how

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they're you know buying

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or selling or holding uh bitcoin so

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hopefully it answers your question let's

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move on to the second one second

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question is from

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karen uh borchez i really hope that i

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pronounced that correctly

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uh i'm already using ledden thank you

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for doing that but i would like to know

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your opinion between

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block fi and celsius which one do you

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prefer

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so for those of you who don't know

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leaden is a sponsor of crypto over

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coffee i love their service if you want

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to earn yield on usdc and bitcoin

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please do check out ledden link is in

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the description below big thank you to

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ledden for sponsoring the show between

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blockfy and celsius and i actually do

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use multiple of these different

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platforms like i kind of like to spread

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it out so

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i actually very often use celsius as

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well so between block fine celsius i do

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prefer celsius over blockfy

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there are a couple of reasons for that

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some of the the consistent

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reductions and reward rates for blockfy

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like i understand why they're doing it

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right market conditions

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profit margins investment all these

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things drive their decisions to

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try and make more profit and and balance

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their business

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better against potential risk so i

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totally understand that but they just

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keep reducing reward rates

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and for me if i'm going to take the risk

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of putting my crypto in a custody

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environment

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like you have to with these services i

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want to earn the maximum amount of

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rewards possible

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and in this case the yields just weren't

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enough for me so

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i use leddin and i use celsius i also

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think celsius has provided me

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all the different tools that i want to

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have for security

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it has the most friction of any service

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i've ever used to log in

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to actually use the service and actually

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move my crypto assets and

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and do things with it people think oh

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it's a bad thing it's not a bad thing

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it's the best possible thing

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whenever i go through and i log into

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celsius i feel great about the security

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that's there

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in order to protect me and my assets

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and subsequently i think that celsius

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has done a good job of balancing market

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conditions against continuing to pay

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good competitive rewards rates so i like

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celsius a lot between the two i'd have

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to pick celsius

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i don't hate block fi i actually still i

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think have a blockfi account and still

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use it in some semblance

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but i prefer celsius over blockfi thank

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you for your question

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and finally last question of the day is

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from bad carol

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i've been confused by the talk about

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bulls and bears because obviously crypto

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is not simply made up of two separate

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camps you want to see crypto go up or

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down

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doesn't make any sense what would you

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say bulls and bears actually are

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and how do these two how are these two

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images helpful to our understanding of

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the markets

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so you are totally correct and that

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there aren't just two separate groups of

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people who want crypto to go up versus

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go down

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those are the polar opposites people

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human beings tend to think in black and

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white so you've got

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people who hate crypto and want it to go

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down and who think it's going down

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and people who are really bullish who

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think it's always going to go up and

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everything is hope and passion and

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excitement for the future of crypto

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there are those extremes there are those

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extremes but in between

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is most of the population of people who

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are really focused on

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you know what's good for for me in terms

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of investing

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how can i protect myself how can i

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maximize my rewards and minimize my risk

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how can i take calculated risk to make

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money and

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how can i look at this market in a sort

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of um

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objective way in order to make money i

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mean that's a lot of what people want to

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do but also to invest in the future this

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technology has a lot of positive impact

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so the way that i would look at it is

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that bullishness and bearishness is is

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more like

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an average right you can look at the

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overall sentiment of the market as

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bearish during times where there's a lot

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of fear of regulation lots of fears

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about the gray scale gbtc

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shares unlocking all sorts of things

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like that

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and so you also have on the other side

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this mass euphoria when things are

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bullish and prices are going up so it's

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sort of a way to generalize how the

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market conditions are

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rather than they're being two

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populations of people who are either all

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in or all out it's really more so just a

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generalization of

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a um a sort of personification of a

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market sentiment

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so therefore don't don't read too much

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into the bulls and the bears

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more so thinking about what the overall

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market sentiment is and how

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your own outlook on the markets plays

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into that and how you can

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you know take advantage of your

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understanding of the markets and the

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conditions there and so

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thank you so much for your questions

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let's move on now to the news section of

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the show we've got a very special

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episode today

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and i will explain that here in just a

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second but before we do that though

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just a friendly reminder please be aware

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of scammers that are in the comments

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posing as me and other crypto youtubers

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i do not have a whatsapp i will not ask

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you to contact me particularly via phone

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i actually don't like people reaching

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out to me via phone if the comment does

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not have the name highlighted like you

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see here on the screen it isn't me and

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you can report them

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so please be safe out there folks in

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partnership

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also every week with the folks at

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keystone i give away a keystone tablet

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steel seed phrase backup device in

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every single episode by picking a random

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comment from the video and i also give

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away one keystone hardware wallet per

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month

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and just for transparency the product is

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only available in select regions

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so if you win and you are from an

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unsupported region i will just send you

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some bitcoin instead

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so the winner of last week's giveaway

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for the keystone is here on the screen

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via random draw

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big congratulations to you and of course

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i will be in touch

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now folks today i want to keep this

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crypto market update

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very brief because this is a special

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episode centered around

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altcoins more on that in just a second

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but we have finally managed to hold a

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week of green in the crypto markets with

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bitcoin back above 40 000

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and ether nearing 2500 who knows what

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recent regulatory news is going to do to

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prices

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we shall see and altcoins though for the

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most part are following suit with

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singular double-digit gains this week as

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well

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why is this well i think first of all

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the fear around the gbtc

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shares unlock from grayscale capital

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that was talked about all throughout

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july

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turned out not to be the total calamity

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that many had made it out to be

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and i also think that institutions and

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retail alike felt better about buying

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after that to

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break the selling trend sort of fear was

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lifted there were also some significant

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periods of time for accumulation over

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the last couple months at low prices

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which tend to lead towards a run-up

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after the fact people buying in

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people holding and then we're off but

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let's just see how well this holds and

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if the next wave of selling pressure

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that will inevitably come

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sends us back towards previous support

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in the low 30 case for bitcoin

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or if we hold strong at the 40 000 mark

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it's going to be interesting to watch

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but i want to know what you think we're

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going to see in the coming week more

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bullishness or a turn back towards old

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support

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let me know in the comments below all

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right folks now i mentioned that today's

play09:30

episode

play09:30

is a special one because it centers

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around altcoins specifically altcoins

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that are not the usual top 100

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cryptocurrencies that you see

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all the time on twitter a viewer of the

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show challenged me to make a show

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with these requirements i'm going to

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read them to you

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right here the requirements of this show

play09:49

are as follows make a crypt over coffee

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episode only mentioning bitcoin and

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ether

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as you announce their price and then

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after that talk about only alts the

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rules you cannot mention top 100 coins

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challenge accepted so given this

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challenge let's dive into some

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sub top 100 alt coins that are

play10:05

interesting and learn more about them i

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think i'm going to split this up into

play10:09

categories it'll make it easier to

play10:10

understand where they kind of fit in

play10:12

the goal here though is not for people

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to fomo in and buy these

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but instead to use this as a chance to

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hear about a project i've never heard of

play10:18

and maybe

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dig deep and figure out if it's

play10:21

something that you yourself

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would be interested in so this is not a

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get rich quick or an investment thing

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it's a learning thing first off let's

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talk about nft projects there are two

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nft projects that are outside the top

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100

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that i think have huge potential and

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solve for distinct challenges in the

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space these are not the only ones but

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these were the first that came to mind

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the first of those projects is terra

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virtua

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which ranks in the 300s in the crypto

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market cap charts

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and tera virtua is special in the sense

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that it's a project that's innovating on

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what is arguably the most under

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addressed component of nfts

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and that is the user experience and

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interaction with the nft itself

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terra virtua offers a platform to issue

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interact with

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and exchange nft assets which are often

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3d

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licensed characters or moments or

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objects from popular media like godzilla

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king kong pacific rim and more of course

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the traditional digital art

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still makes up a solid proportion of the

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content as well with artists often

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featured prominently on the main terra

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virtua page

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of course the often discussed issue of

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high fees to mint and exchange assets is

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also addressed in their platform

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but the most important part is in their

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three-pronged approach

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to user experience in interacting with

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your nfts

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to display them there are two desktop

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apps and one

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mobile app that can be used to actually

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see your nfts in action and experience

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them in an immersive way

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there's the art gallery and fan cave

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terra dome

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desktop applications that let you

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display and share your digital art

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3d characters and models in a

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customizable way and those 3d characters

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in the pterodome

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will scale to this immense size and

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virtual reality

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so you really feel the scale and that

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you own something unique that would go

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in a museum

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well a digital museum of course the

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mobile app on the other hand is a

play12:06

wallet enabled with augmented reality so

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that you can view your entire portfolio

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in one place and toss the assets up in

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your room

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as an augmented reality experience terra

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virtua is working really hard to keep

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building this platform and it's in the

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early stages but

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it is super impressive so far by the way

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coffee tonic today

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now you might call this one cheating

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because you can't buy this one yet but

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the interoperability blockchain project

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dedicated to bringing

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cost-effective secure and widely

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interoperable nfts called

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effinity is one that i am arguably the

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most excited about right now going into

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next year

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one of the big selling points for nfts

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has always been they give you this

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ubiquitous access and ownership to

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digital assets anywhere that you go

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but right now that experience is

play12:51

extremely fragmented due to the isolated

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nature of blockchains on which

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nfts are created of course you do have

play12:58

the ability to move from layer 2 to a

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layer 1

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using a bridge but that's not really

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interoperability

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for nfts to truly become the evolution

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of digital content ownership like it is

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poised to be

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there needs to be a way for nfts to be

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minted on one blockchain

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and then freely securely and atomically

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transferred to another blockchain back

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again and all around

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this way an nft that i have can be used

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as collateral for a

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default loan on another blockchain then

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i can withdraw that nft again after

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paying back the loan and move it back to

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the network where it belongs so i can

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use it in a game

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you get the idea by the way atomically

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that's a word i use all the time

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basically means that if i move my nft

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from one chain to the other

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it must be created on the destination

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chain and subsequently burned

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or locked on the origin chain or nothing

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happens to be an atomic transaction

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both operations must occur for the

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transaction to work

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that is atomicity effinity is going to

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deliver on this vision and i believe

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that they've chosen the right technology

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in their white paper to do it

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now because of the rules of the

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challenge i'm not allowed to mention the

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top 100 project

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as part of the challenge so just know

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that they are using a certain

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interoperability project that exudes

play14:05

this image

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imagery of a series of dots that's all

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i'm gonna say

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you probably know what i'm saying okay

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i'm not gonna go too deep on this last

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one but consider it a bonus i've been

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looking at dow driven

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or decentralized autonomous organization

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driven nft marketplaces and platforms

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and one that is really impressive to me

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so far in my cursory research is called

play14:26

wilder it has all sorts of cool features

play14:28

like fractional ownership ready to go

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and it seems to be a platform that

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really takes into account the ideal

play14:33

experience for both artists and

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collectors

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so take a look and see what you think

play14:37

and shout out to crypto lark for

play14:39

pointing this one out

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i took a look after hearing him mention

play14:42

it on his channel all right we're going

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to move into the world of

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interoperability because well

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you know me i think interoperability is

play14:48

the most important component

play14:50

in the world of blockchain for the next

play14:52

several years and it will be

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one of the big ones to push us to mass

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adoption

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the very first project in that list that

play14:59

i want to mention is

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one of the only ones on here actually

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probably that you've heard me talk about

play15:03

before

play15:04

more than once and it's one that sits

play15:06

right outside the top 100 right now

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and that project is icon from the very

play15:12

beginning of this project

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it has sought to create a deeply

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interconnected network

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of blockchains that would appeal to

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enterprises and general user populations

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alike

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now over the coming months probably the

play15:25

next two or three months

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icon is rounding up development and

play15:28

migration efforts on its 2.0 version of

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its blockchain

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which will bring wholesale improvements

play15:34

to the smart contract execution

play15:36

environment

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the core transactional components and

play15:38

much more it's a general re-architecture

play15:40

of everything

play15:41

and it's all around a better network but

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the more notable side of this is the

play15:45

development and adoption of the

play15:47

blockchain transmission protocol

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or btp for short which is a general

play15:51

purpose communication protocol that lets

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heterogeneous blockchain network so

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different blockchain networks that are

play15:57

composed differently

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communicate with each other through

play16:00

relayers to the icon network

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so the icon almost becomes this hub

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where communication can occur but of

play16:06

course btp can be used elsewhere as well

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this will enable icons blockchain to

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openly communicate and exchange

play16:12

transactionally with other blockchain

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networks that integrate

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using btp so i'm really excited to see

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what icon 2.0 plus btp

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has to offer in the next year or two i

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think it's going to be really exciting

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and i do want to mention one other

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project in the asia region

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that is also tackling interoperability

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in an interesting way and i've been

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researching for a little while now

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and that is cardiac chain folks in the

play16:34

western regions might not have even

play16:36

really seen it or

play16:37

looked into it much or heard about it

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much but cardiac chain leverages a

play16:40

sharded blockchain network architecture

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sharding not

play16:44

shart get your head out of the gutter in

play16:46

which networks

play16:47

like this shards really are referring to

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dual node clients that effectively sync

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cardiac chain's ledger with ledgers from

play16:55

external blockchains

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and it preserves the cryptographic

play16:58

proofs during consensus from those

play16:59

external chains

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cardiac chain has already integrated

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blockchains in this way and has

play17:04

developed a mechanism for cross-chain

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smart contracts using their markup

play17:07

language

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ksml cardio chain has also started to

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incubate projects on top of their

play17:12

network like the

play17:13

really really popular nft project myd5

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pet

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which is a play to earn nft game that

play17:18

sits on the interoperability

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network cardio chain across a top 100

play17:23

project that i also can't mention that

play17:24

starts with a b

play17:25

so you probably know what that one is

play17:27

cardio chain is also working to continue

play17:29

to incubate a series of d5 projects to

play17:31

serve as the foundation

play17:33

of a composable defy ecosystem on the

play17:35

network so it's an interesting one with

play17:37

an interesting dual node mechanism that

play17:39

i'm continuously researching

play17:41

all right but actually we just talked

play17:42

about defy so let's jump over there now

play17:44

and there's so many that i can mention

play17:46

here in the d5 world that are

play17:47

interesting to me but i'll just mention

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two maybe three that are top of mind for

play17:52

me these days the first one

play17:54

is osmosis which is a zone on a popular

play17:57

interoperability project that i also

play17:59

love

play17:59

but is also in the top 100 and i can't

play18:01

mention it due to the rules of the

play18:02

challenge yet again

play18:04

so just a hint for what this is it

play18:05

shares a name with the best science show

play18:07

of all time

play18:08

and it was once hosted by carl sagan and

play18:11

more recently by neil degrasse tyson so

play18:13

now you probably know what network it's

play18:14

on

play18:14

anyway osmosis is a cross-chain

play18:16

automated money maker platform or amm

play18:19

that leverages the liquidity pull

play18:20

mechanism you might be familiar with on

play18:22

other dex platforms on other blockchains

play18:24

from my perspective this is one of the

play18:26

most well-designed user

play18:28

experiences and implementations of a

play18:29

cross-chain decks that i have seen

play18:31

it offers the ability to exchange

play18:33

cryptocurrency in pairs

play18:34

across different blockchains but it also

play18:36

provides liquidity providers

play18:38

ample rewards for participating in the

play18:40

key liquidity mechanism

play18:42

for the protocol i mean building a

play18:45

constant product liquidity pool protocol

play18:47

is already somewhat challenging in and

play18:48

of itself but then you add the fact that

play18:51

many pairs of assets live on completely

play18:53

different and sovereign blockchains

play18:54

altogether

play18:55

you have even more complexity however so

play18:57

far even its early stages with lots of

play18:59

work yet to do

play19:01

osmosis core product that's really hard

play19:03

to say by the way

play19:04

works really well with the kepler wallet

play19:06

in in this ecosystem and has

play19:08

been already a success in my book so i'm

play19:10

excited to see what is to come for this

play19:13

the other project that is also on the

play19:15

same overall interoperability ecosystem

play19:17

or network that

play19:18

osmosis is on is another d5 powerhouse

play19:21

that is called

play19:22

secret network it's privacy by default

play19:25

network is built with all sorts of

play19:27

features that make it a unique platform

play19:28

to build market makers lending and more

play19:30

on top of

play19:31

most recently secret network launched

play19:33

sefi or c5

play19:35

a secret voting application on top of

play19:37

the network so that those voting and

play19:38

governance proposals can do so privately

play19:41

without feeling influenced by their vote

play19:42

being public this is a critical part of

play19:45

governance because

play19:46

otherwise people feel swayed by judgment

play19:48

of their public vote if it's not in line

play19:50

with the majority

play19:51

now if you've followed secret network's

play19:52

twitter at all they have some pretty

play19:53

awesome d5 announcements coming in the

play19:55

next week or so

play19:56

which will double down on some of the

play19:58

already amazing work that's been done

play19:59

with secret swap

play20:01

a privacy preserving swap protocol on

play20:03

secret network so

play20:04

all the pieces are there i'm really

play20:06

interested to see how things develop

play20:08

in the secret world but at d5 is not the

play20:10

only thing it can do mind you

play20:12

now another d5 related project that i've

play20:14

been diving deep into the rabbit hole on

play20:16

is called bumper

play20:17

which provides effectively volatility

play20:19

insurance or protection for crypto

play20:21

holders and users shielding you from

play20:22

downward volatility whilst preserving

play20:24

your ability to catch up swings in price

play20:27

by the way total full disclosure full

play20:29

transparency

play20:30

i was able to purchase a small

play20:32

allocation in their private sale which i

play20:33

only did because i was compelled by

play20:35

their solutions and ideas

play20:37

i'm not telling you to go buy it i

play20:39

actually don't mind if you don't buy it

play20:40

or you're not interested in it just go

play20:42

research and see what you think again

play20:44

it's not about buying crypto

play20:46

so i think this could be a part of

play20:48

future defy ecosystems where

play20:50

users with exposure to highly volatile

play20:52

early stage cryptocurrencies can pay a

play20:54

premium

play20:55

to lock in a price floor that protects

play20:57

them from losses beyond that floor

play20:59

and liquidity providers who provide the

play21:01

stablecoin assets to cover users

play21:04

that pay those premiums for price floor

play21:06

protection can earn

play21:07

rewards for doing so so those liquidity

play21:09

providers would get paid out proportions

play21:11

of the premiums that are paid by those

play21:13

looking for protection

play21:14

so it's almost like an insurance

play21:15

ecosystem so i can see this being like

play21:17

an insurance policy for d5 users that

play21:20

are dabbling in high

play21:21

risk high yield projects especially ones

play21:23

that are risky

play21:24

kind of rug pulley things now this last

play21:26

section is what i'd call miscellaneous

play21:28

projects so ones that don't fit squarely

play21:30

into a category

play21:31

so here goes another project that sits

play21:33

near number 200

play21:34

on the cap charts but has already

play21:36

achieved quite a bit is

play21:38

unibrite and unibrite is a project

play21:40

that's seeking to provide a highly

play21:41

abstracted set of tools and platforms

play21:43

for enterprises

play21:45

ones like huge ones like coca-cola to

play21:47

adopt blockchain technology and to do so

play21:49

in a way that gives them both the

play21:50

benefits of a public blockchain

play21:52

whilst also allowing them to hold some

play21:54

data and transactions

play21:56

privately unibrite's collaboration with

play21:58

provide to create base ledger an entire

play22:01

ecosystem and tool set

play22:02

tailored towards enterprise is a huge

play22:04

step in the right direction to bring

play22:05

these massive organizations on board

play22:08

to the world of blockchain and then

play22:09

bridge them into the world of defy

play22:11

and other more decentralized elements of

play22:13

the of the world

play22:14

so there are already significant

play22:16

partnerships which i won't list here for

play22:17

brevity i'm sure you can find plenty of

play22:19

those on twitter if you're in the

play22:20

unibright space but it's a project that

play22:22

i remain a fan of

play22:23

and i think that still is extremely

play22:25

underrated in my opinion

play22:27

and finally this is another project that

play22:29

for full transparency i've purchased a

play22:31

small allocation of tokens for in the

play22:33

private sale but again

play22:34

i buy things that i think have a chance

play22:36

to do well so do not feel any pressure

play22:38

to do the same that's not

play22:40

the point again research the project is

play22:43

called zeitgeist and it's building in a

play22:45

space that i was really into several

play22:46

years ago

play22:47

with projects like auger and that is

play22:49

prediction markets

play22:51

essentially you have an ecosystem where

play22:52

an entity an aggregator can pose a

play22:55

question or a hypothesis

play22:56

and others can buy shares in a new

play22:58

prediction market around that

play23:00

sort of hypothesis and pose their

play23:02

prediction or belief on that given

play23:04

question

play23:04

what is that variable going to be equal

play23:06

to then an

play23:08

oracle provides the definitive result

play23:10

and those with the correct prediction in

play23:11

that market get rewarded proportionate

play23:13

to their shares so you buy

play23:15

more shares the more confident you are

play23:16

in your prediction in that market

play23:18

and of course you would get rewarded

play23:20

more if you are correct think of an

play23:21

example like predicting the price of a

play23:23

cryptocurrency on a given time and date

play23:25

and for disputes over oracle's

play23:27

correctness there is also a built-in

play23:29

protocol for resolving disputes in a

play23:30

sort of decentralized governance court

play23:32

or tribunal

play23:33

which is really pretty fascinating stuff

play23:35

and there's a lot of forward thinking

play23:36

elements of this prediction markets

play23:37

project

play23:38

and i really like that this space it's a

play23:40

cool idea so i'm watching this one going

play23:42

forward

play23:43

and ladies and gentlemen it is time for

play23:46

404 logic not found and for those of you

play23:48

who are as of yet uninitiated in this

play23:49

little firecracker of a segment

play23:51

i highlight notable tech related fails

play23:52

or otherwise stupid moves in the world

play23:54

that need to get some attention

play23:56

speaking of attention if you want to

play23:57

help this episode of crypto over coffee

play23:59

get some attention from the algorithm

play24:01

robots

play24:02

please do hit the like button get

play24:04

subscribed on the channel or

play24:06

follow the podcast because it tells

play24:07

those robots that you like what you're

play24:09

listening to

play24:10

you like what you're watching and others

play24:12

might enjoy it as well

play24:13

so thank you for that in advance you

play24:15

didn't think i'd do an episode of

play24:17

crypto over coffee without 404 did you

play24:20

anyways today's illogical cereal box

play24:22

prize in this wonderful

play24:23

and terrible cryptocurrency takedown

play24:25

op-ed piece from the hill

play24:27

is none other than something titled

play24:30

bye-bye bitcoin it's time to ban

play24:32

cryptocurrencies

play24:33

i mean this article basically asserts

play24:36

the same exhausted and fallacy written

play24:38

talking points about crypto

play24:39

that it's basically worthless to

play24:41

everyone but criminals and

play24:43

banking officials say that

play24:44

cryptocurrencies aren't a means of

play24:45

exchange or value preservation

play24:47

and they're bad so we get it

play24:51

i mean you know this but asking a set of

play24:53

banking officials if they like

play24:54

cryptocurrency is like asking an italian

play24:57

if they like pineapple pizza you already

play24:59

know the answer that you're going to get

play25:00

and it surely doesn't support your

play25:02

reasoning that

play25:03

pineapple pizza is bad i mean i could go

play25:05

on for an hour about each talking point

play25:06

in this article and how it's so woefully

play25:08

illogical and biased and flat out

play25:10

farcical but

play25:11

instead i'd like to illustrate the most

play25:13

logical part which is that the writer

play25:15

seems to admit their lack of

play25:16

understanding of the entire space and

play25:18

then proceeds to denounce it

play25:20

and i quote i've never understood why

play25:23

cryptocurrencies are worth

play25:24

anything that's the very first statement

play25:26

in the entire piece and while i know

play25:28

that the purpose of this is to

play25:29

illustrate hey i don't think that the

play25:31

cryptocurrency is worth anything

play25:32

i personally believe that the first step

play25:34

in an argument for or against something

play25:37

is understanding that thing to say that

play25:40

in the first

play25:40

line is not only something that doesn't

play25:43

make a lot of sense

play25:44

it just invalidates any semblance of

play25:46

authority that the author might have on

play25:48

this subject is an

play25:49

impartial person right i can cherry pick

play25:52

a dozen reasons why fiat currency is

play25:54

flawed but here's the difference

play25:56

i can also note areas where fiat

play25:57

currency provides value and merit

play25:59

despite its many flaws

play26:01

same for the internet same for home

play26:03

ownership same for

play26:04

everything everything you can think of

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is the sum of its positive and negative

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aspects which you have to understand

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fully before making such bold assertions

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about its merit

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you cannot reasonably hate that which

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you do not understand

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not without a distinct 404

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logic not found in this case folks

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people are free to hate cryptocurrency

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free to think that it's pure evil free

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to do all these things but at least at

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least

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try and balance your extreme negativity

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your assertions

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even in an op-ed even an opinion piece

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with counterpoints so people can

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actually understand

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the opposing viewpoints don't just leave

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it out and pitch things as fact to me

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that doesn't make a whole lot of sense

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but anyways make sure you are subscribed

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because

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the next episode of the official

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standalone 404 logic non-found

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series which the first episode actually

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posted last wednesday or this past

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wednesday

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is coming a week from this coming

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wednesday i've made this whole thing

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very confusing

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anyways the latest episode of 404 logic

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not found the standalone show is coming

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a week from this coming wednesday if

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you're watching this on

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the saturday which this episode drops on

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thank you so much for all the support

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you give me on the channel and if you do

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have time to stick around

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i will link up that first episode of 404

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logic not found the standalone show here

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on the screen for you to watch

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if you are interested and regardless of

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that folks i really appreciate you

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taking the time to watch the episode i

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hope you and your family have a

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wonderful weekend

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and week ahead and until next time

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[Music]

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cheers

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