And we have an equally exciting show for you today is all about all coins big news around all coins polygons rebranding their token yet again Ave launching a stable coin flow is laying people off binance chain is implementing something very interesting to their binance smart chain we’re going to talk About that and much much more but first here is your other co-host for today that’s my boyfriend as far as high number good how about you glad to be here man I’m just liking the video uh just making sure I’m liking the live stream uh so we Get our likes ratio up you’re a good man I recommend everyone do the same you’re a good man uh 37 people watching 19 likes decent we could do better we could do better we can always do better uh guys before we get started I do want to Give a special shout out to channel sponsor cams bluewire technology if you own a business you want to maximize your networking and your it you’re going to want to call Kim’s blue eye tech visit bluewrytech.com they’re going to walk you through everything step by step so you can focus on what’s important that Is bringing in the dough baby uh or there’s a link in the description this video feel free to use that as well now for us Sports Friday we didn’t get our Giggles yesterday because we had some serious things to talk about well we laughing today so All this week we’ve shown video clips of people acting like idiots in Las Vegas swear man it’s like people come to Vegas and they forget like how to act like a person and uh apparently this one I can’t really blame it on the tourists because it’s a Nevada license plate Let’s take a look at what is in the that is a that is a kangaroo my friends there is a kangaroo uh in the back of a car in Vegas um do you see this kind of stuff in Georgia or is it you know just Vegas people or just I don’t I don’t Understand I think that’s a Vegas thing I haven’t seen any kangaroos around here this is David Carr what about are there any other wild exotic animals like lions or tigers or no I mean honestly not in the circles I run in to be honest yeah broke Yoshi said emotional support kangaroo I would Not be surprised all right then we have this it’s kind of funny uh girlfriend I don’t know why her age mattered uh strip naked and violently attacked boyfriend when he refused to sell Bitcoin and take her out to eat why would I sell my Bitcoin and take you Outt you know I wouldn’t even do that for my wife and we’ve been married for 12 years she knows she knows how important Bitcoin is uh and then we have a life hack we like bringing you life hack guys and well if you just can’t Afford a grill or an oven and you know you really just wanna cook something real nice when you’re at work well we have a life hack for you and pay attention get off your notepad and take notes so first you want to take a desk and Pierce a whole through stead desk and Then you want to take your what is that tool called by the way I don’t know uh so you want to do that and so what it’s essentially doing is creating a little uh chimney thing uh and then you open the first drawer of your desk and well you Cut and you know what guys I’m gonna fast forward here okay so the top when you cut a smaller uh Square bottom one larger Square well you might be wondering well why is it cutting larger and smaller squares well you’re about to find out so here we go we put a grill There and then we uh put a temperature load up the charcoal on the very bottom drawer and uh make sure to have your mitts on makes sense uh man what do you think this guy Cooks in here just curious Pizza no it’s not I swear to God bro and he so Look he he grates the cheese from the top and it goes to the bottom uh and then uh bam there you have it a fresh pizza and how much does that cost you one thermometer one cheese grater some charcoal bam there you have it guys life hack you’re very welcome that’s Everything but flesh like all the toxic chemicals in the in the paint that can’t be healthy um you know we don’t really pay attention to the stuff we put in our bodies nowadays all right that’s all I’m gonna say uh then we have this man is a Prophet I’m sure a couple of you’ve seen it but maybe also Raul San Miguel said barbec chicken pizza I hope it was a Barbie chicken pizza and uh so uh Forest have you seen this video I have not what up Council I’m here to discuss artificial intelligence AI is going to take all of our jobs and render us useless and I for one am stoked I hate jobs I had a job once and everyone there talked in weird voices AI is gonna 86 all of that but but we’ll still need money that is why I’m asking The government to step up and make sure we’re breaded we’re proposing a small payment plan or a small PP of 10g a month for every citizen so we can party and look hot and enjoy our free time now you know um it’s serious it’s not like it is serious we need 10 G There we go we need to get breaded um am I getting older are these actual like real um you know way people are talking I don’t know um do you disagree with anything sounds like California uh I mean it sounds sounds like some stuff that’s probably already going on in California Um so I don’t know if he’s if he’s in California they just might say yes the man got a point yeah California loves dishing out free money but it’s not really free uh and then guys I talked about this on a Twitter space yesterday we talked about it on the show Yesterday how fast are these exchanges gonna start relisting xrp well we got our answer the first one well I don’t know if it was the first one Kraken might have been the first one but here we go Paul graywall the chief legal officer for coinbase Tweeted this 20 or uh yesterday at 12 40 p.m so just a few short hours after the Judgment came out we’ve read judge torres’s thoughtful decision we’re carefully reviewed our announcements it is time to re-list you can officially buy and sell xrp on coinbase so big can We get a round of applause for xrp coinbase way to step up coinbase it’s about damn time also Kraken they announced uh shortly after new token available in the US xrp and to me that leaves one exchange one big U.S exchange and that is Gemini although uh they haven’t officially Relisted or announced that they’ve relisted xrp they did tweet this at 11 o’clock in the morning Pacific time yesterday given today’s ruling that the sale of xrp is not a security Gemini’s is exploring the listing of xrp um I said it yesterday the way these exchanges make money is through trading Fees well what are people trading right now what do people want to buy and sell well it’s xrp the volume on that one through the roof uh and then also uh I trust capital which by the way is also a channel sponsored uh they are also offering uh Xrp on their platform again I got this email today because I am a uh a customer we’re thrilled to announce the return of Ripple back on our platform login today to start buying and selling Ripple through your tax advantage Ira uh and if you guys want more information on I Trust Capital uh this is their Twitter handle I trust Capital uh yeah so uh Forest are you surprised Gemini has yet to re-list well maybe yeah someone said do they even have xrp that I’m not sure but are you surprised they haven’t at the very least listed it or relisted it If they’ve listed it before you’re cutting out there am I surprised they haven’t listed it yeah we saw cracking coinbase uh I trust Gemini why would you be last right uh yeah uh Gemini I I almost I almost said that they’ve had run-ins with SEC but like all the exchanges have at this Point I don’t know why I genuinely don’t I don’t know why they would be the last three list uh it could be something behind the scenes it could be the market makers they work with just don’t have enough xrp yet to to supply it um there’s all sorts of like mechanical Things that go on uh behind the scenes I don’t think it’s as easy as just flipping the switch and saying oh we offer xrp now they actually have to find and partner with market makers uh to provide xrp those market makers uh with the deepest Pockets may already have exclusive Partnerships or agreements With coinbase or some of these other exchanges um so there’s probably a lot of things going on behind the scenes that uh it’s probably probably a little bit more complicated so there could be a could be a number of different reasons why they’re you know a little bit slower to Act also I do want to know they are in a legal battle with uh Barry silbert and digital currency group that’s dcg if you guys remember I know it’s been a while but if you’re a Gemini earned user your money’s been locked up because the whole Genesis Global training uh and dcg They’re looking to uh apparently if you’ve been following the news which I have uh Barry Silver and dcg have been taking all their investors to the ringer they’re buying time they’re using uh forget the term or the label they use but some sort of illegal not illegal but Like on uh ethical tactics to buy time and essentially not do anything either way and so uh they might be too busy with that either way I do expect Gemini to either re-list Or List xrp um and guys we’ll talk about liquidity right how easy is the access uh we’re Gonna get into the crypto and that stuff in a second but first Larry Fink is like our mascot now I guess he was on uh what was he on MSNBC or no sorry CNBC and here’s what he had to say about not just Bitcoin but crypto Rocco what you Think it is and you talk about how were crypto fits well I can’t talk about Bitcoin because we have a filing with the SEC so I’m prohibited I could talk about crypto in general and I could talk about what we have done you know we believe we have a responsibility to democratize investing And we’ve done a great job and and the role of ETFs in the world is be is transforming investing in it I think we’re only at the beginning of that I mean we we believe the fixed income Market is going to become multiple trillion dollars in in ETFs equities will continue more and More the market will be will be delivered through an ETF platform if you think about what was done 15 20 no 20 years ago now with the Advent of a gold ETF that really democratized gold investing it brought down the cost of transaction go for gold I mean the cost of Transacting physical gold is absurd and now with crypto the idea of democratizing that role the cost right now to transact is quite expensive we’re talking points not decimal points and so that’s a big point two um over the last five years more and more our Global Investors are Asking us about the role of crypto and as I said I do believe a lot of crypto is is going to be it’s a I want to pause real quick I want to think about and then I and you might be saying I’m over analyzing and I don’t really care I overanalyze everything Uh the the term the words he used uh our investors are calling us and asking us about the role of crypto not crypto is an investment not crypto as a long-term holder or Bitcoin but the role of crypto I thought that was kind of interesting let’s continue the video International asset It’s going it is uh it has a differentiating value versus other asset classes but more importantly because it’s so International it’s going to transcend any one currency and currency evaluation if you just look at the value of of our dollar into how a decrease should last two two months and how much It appreciated over the last five years I mean a international crypto product can really transcend that and that’s why we believe there’s great opportunities and that’s why we’re seeing more and more interests and that interest is broad-based worldwide can you talk Boris what are your thoughts on uh what what Mr Fink one of the most influential people in the entire world I mean he could literally probably pick up the phone and get Biden on the phone tomorrow I’m not sure he’d understand what Biden has to say but that’s not the point yeah so I mean at the end of the day He’s just talking his book He’s just pumping his own bags it’s no different than what you see the big influencers on Twitter do right check out this coin check out he’s just at a grander scale he’s like check out this he’s like when a big influencer in the bull markets Like check out this micro cat point it’s going to pump 20x he’s just doing the same thing but at a larger scale with Bitcoin um I think it was uh when Michael Berry shorted uh all the um mortgage-backed Securities uh back in 2006 2007 Um the train he had to sit on that trade for like a year and a half two years going underwater on it he had a ton of people withdraw money from his fund and it wasn’t until the big guys got in on the trade too that the trade started Going that way uh so ultimately like you’re once the big guys get on board they’re just gonna jump on board and they’re going to talk about how great Bitcoin is how great crypto is because now they’re in on the trade two years ago when Larry Fink was saying you know Bad things about Bitcoin is because he didn’t own any and didn’t have any exposure to it so people always just talk their bags hmm back pumping you don’t think uh are you still in the camp and I’m not sure if it was you or Robin that mentioned This that what he’s the all the positive he’s talking about Bitcoin is not really his personal it’s just uh you know they’re launching a product they’re trying to create excitement because you know they’re trying to get people to buy in because guess what when you buy their ETF when it goes public they make money off of a TR off of a percentage which I believe they mentioned it’s going to come out at 65 basis points so 0.65 are you still in that camp that that he doesn’t really give a about Bitcoin or crypto and what it can potentially do That is just hey we’re rolling out a product let’s do some PR around it yeah yeah 100 to think that I I don’t think he cares about the nuances of crypto or blockchain technology I think it’s 100 he sees an opportunity there was The Proven demand for it and the Last bull market uh it runs cyclically with with the Bitcoin having Cycles they need to find a place to make money and they’ve identified blockchain and Bitcoin and crypto as an area that uh as a hot area for them to make money um look it it’s he’s just talking his Book whatever he’s got to say to make uh BlackRock more money and gain more control um that’s what he’s gonna say fair enough uh all right guys let me uh before I move on let me check the metrics 162 viewers 68 likes guys we don’t ask much of you we ask you a Few things we ask you just make sure you subscribe follow us on our social medias and like the video for the love of God please like the video if you’re sitting here watching I know you like us I know you like the video or else you wouldn’t be watching It so let’s prove to YouTube that this is a good show and a good video and the way we do that is we press that little like button with the thumbs up that tells YouTube guess what thumbs up this video is good let’s show it to more people thank you very much uh Now before we get into the markets quick shout out to channel sponsor I trust capital I did bring him up earlier they are releasing xrp if you want to buy xrp or you want to huddle Bitcoin or any other crypto and you don’t want to and you plan on using It for your retirement you’re going to want to uh open an I trust account click the link in the description of this video and you’ll receive a hundred dollars once you fund that account now with that being said first that’s some bad news man below Market’s over Bitcoin thirty thousand seven hundred We’re at 32 000 almost is the bull market over for us uh no I think I think everything’s still positioned very bullishly I think we just obviously with the news yesterday we had a crazy day where everything had to reprice based on new fundamentals and what those new fundamentals were or that Crypto and all coins in particular are not necessarily deemed Securities uh going forward it’s much less likely that ethereum will ever be labeled as security legally right same thing goes for xrp same thing goes for the big ones that had just recently been labeled Securities you had Solana cardano uh Avalanche remained un unbothered by that but polygon as well so all of those coins just were were trading at a disc Point discount because there was risk that the SEC could come in and label them what’s up you said this coin I like that discount yeah coins that discount trading at a discount Training at a discount because uh there was risks that they would be called Securities and that you wouldn’t be able to trade them on major exchanges in the US and they’d lose all sorts of volume on the US but that doesn’t appear to be the case anymore with the recent Xrp uh or a ripple case aside from that I don’t think that that uh obviously that’s very bullish for all coins and that’s what we’re seeing is a correction in altcoin dominance Bitcoin dominance dropping back down uh but now we’re starting to see people probably take some profits on all of their their Trades from yesterday we’re seeing that uh seeing that pullback Singapore back in Bitcoin which is interesting um I still believe the 9000 or so Bitcoin that’s being moved around by the US government is probably in play and I’d imagine that might be playing into why we’re seeing this correction today but Um overall I still think the trend is very bullish it’s just you’re gonna get punished if you aped in at the top yesterday info mode in Forest um but can we assume and or isn’t the US government supposed to be doing these these uh selling their Bitcoin like OTC uh Do you know what line do you know anything about that as far as like is there a limit as far as uh once it’s over a certain amount of money you do OTC or can anyone do it do a do it on an exchange or do a spot Uh I’m not sure exactly how it works my understanding is it’s t-wopped meaning it’s just basically dca’d over like a 24-hour period of time or like a seven day period of time um yeah I think it’s just Market sold if I’m not mistaken um there may be uh could be auctions so There’s there’s certainly different ways they could do it I think in the past I’ve heard of like you know maybe an auction format but I genuinely am not knowledgeable on this but I know everyone’s freaking out about the government selling their Bitcoin I don’t think they do it OTC 9000 Bitcoin is a Crazy amount of Bitcoin to have to try to find an OTC deal for uh Forest uh we’re we’re taking here can we pull up a Bitcoin chart we’re at uh we opened the show at almost 31 000.now we’re at 30 500 and descending rapidly um is the government selling now what’s Going on is this people taking profits natural abs and flow of the market explain to us please help us let’s get again yeah let me check uh Twitter see if there’s any any news here um Forest is checking Twitter let me let me try to see if I can pronounce your Guys’s names here uh give you guys some shout outs uh so uh some new people here Jose Rodriguez Seth Buchanan uh who else we got here we got uh Sean we haven’t seen Sean in a while how you doing my friend welcome back buddy uh hey Brett Uh Rin Tin Tin Mike Vollmer said he sold all his xrp backs you liar Mike you better you’ve been so vocal about xrp I highly doubt that uh I am Jay and uh welcome also we have a new uh nightbot is in the chat and I bought it all it Does it seems to post our social is interesting uh and then who else we got it there was one more name I saw here new crypto to all of you hola welcome of course did you find anything as I was rambling names no no nothing news Related it could be Bitcoin or it could be the government selling that Bitcoin um more so what we’ve done is we’ve just you know put in a deviation I can talk to the Chart a little bit yeah um if I can share my screen here so uh what Happened here was you have your your big level your big big resistance level at 31 000 uh and that’s a double margin pressure level for the 5x and the 2x we we you know held resistance there twice and we kind of held resistance here multiple times before but we held Resistance there twice we started launching off of it uh we came back down and now what we’ve done is we’ve re-entered this consolidation range uh let me remove these indicators that right we’ve re-entered this consolidation range uh between 30 000 and 31k and what that’s when we re-enter here that’s very bearish right Oftentimes you when you re-enter a range you rotate directly back down to the midpoint which in this case would be roughly 30.5 which is kind of where we’ve we’re starting to see a little bit of support a little bit of a bounce uh if we obviously lose that and lose this little trend Line would be looking to trade back to 30k look 30k is a pretty clean place of demand so we could certainly see a bounce there we lose 30k then it’s it’s not looking great um something’s probably going on behind the scenes and uh you could definitely trade back down towards 28k Um the the problem is you know when we when we zipped up here from 25 to 30 you know essentially 31 4 initially uh we didn’t build a lot of support along the way we kind of just had this kind of fair value Gap where we just zipped Through in volume and a lot of times uh that’s considered an inefficiency in price and we’re probably gonna or not probably I’m not gonna say probably but there’s a chance that Bitcoin comes back down and uh tries to put in some support somewhere in this region right before Going up and higher so something to keep an eye on as of right now we’re still fine we’re in the range that we’ve been in for a while all coins have uh put in some solid moves and otherwise we’ve just kind of got this little trend line here at around 30.3 30.4 uh thousand that we need to we need to try to hold yeah and I know I personally I don’t think Bitcoin is going to go into 30k I think that’s a big psychological number I think there’s too much positive narrative but I could be wrong Um but if unless of course the US government is selling and then you know unless that Demand on the demand side the pressure equalizes it might go under 30k I don’t think I mean let me ask you this question it’s kind of General you think we’re ever going to go under 25k Ever again oh that’s a good question um probably not unless the government really really just rips all 40K Bitcoin here in our faces uh and in the in the near future or uh unless binance is like insolvent or something I think it would take I think it would take binance being Insolvent or you know or you know if we just get hammered with bad news back to back to back like let’s just say uh the government starts selling their Bitcoin let’s say you got something uh where you know binance was insolvent you got a denial of the ETF in August right all of Those things could bring Bitcoin back down especially in conjunction could certainly bring Bitcoin back down but I personally think the ETF is going to get passed I I personally think uh that binance is solvent we may see some trouble with binance us but again you Know the the SEC just took a hit there yesterday um in terms of you know calling things securities um and yeah the government’s got 40 000 Bitcoin to sell that sucks uh but ultimately it’s it’s we’ve got to rip the Band-Aid off sooner or later and we Could certainly see one of these right one of these kind of crashes where you see a recovery once they’re done selling so you know this I could see something like that you know this might be a stupid question but I feel like it’s just like like a lot of people are Asking this question why would the government not wait right well I’m sure that there’s smart people in the government right now I’m not saying they’re not uh you know they’re not influenced by money or whatever but they’re smart people why won’t they say hey how about we wait to sell our Bitcoin do we know there’s gonna be another bull market the having is coming at least someone can look at previous price action and be like hey also we got BlackRock sitting here with an ETF uh waiting to get it approved trillions of dollars potentially a percentage of it Is going to start flowing in instead of cashing it for six billion we can cash it for 12 billion why why like I feel like that’s such a common sense question but I feel stupid asking it do you would you like care to throw a dart at that answer Two things um for one uh I don’t think they necessarily care about profiting on bitcoin mainly because they can print as much money as they want they have unlimited money they’ve got the money printer like it literally like if they if the FBI see any government entity needs Money they can just turn on the money printer and and they’re good to go um the other thing is you know perhaps this is getting a little bit speculative um you know maybe Black Rock and Fidelity uh and some of these larger asset managers want them to Sell it and if these asset managers want them to make that decision to sell it before they’re having or on a certain timeline then maybe they’ve you know greased the right you know Grease the the wheels a little bit to make that happen um otherwise I mean it could just be a Like a policy thing I’m not super familiar with with the laws and the policies around there but maybe maybe there’s laws around you know a timeline for how long uh the government has to auction off or sell seized assets so it could be could be policy related as well Yeah and you know I was thinking about this yesterday and you know and I don’t even know if if this is even possible but could potentially if BlackRock is gearing up to to launch the CTF if they got a hint that it’s going to get approved they’re gonna have to Pick up some some Bitcoin spot could potentially have a deal with the government to buy it from them I don’t know I don’t know if that’s possible but I’m just trying to get my brain going here uh all right let’s take a look at the rest of the crypto markets are doing So yesterday we showed xrp did flip BMB but they got flipped back they ran it back so BNB is back above xrp again but uh xrp continues to bleed off it’s coming in a 69 cents and you know everyone their emotions were high yesterday my emotions were high I was excited you Were excited forest was excited before it said tread carefully right be careful don’t invest emotionally uh and I was talking to a friend yesterday big xrp guy I was like Hey coinbase system I’m gonna go buy another 2K on coinbase right now is that 82 cents I was like bro I’d wait They’re gonna see it we’re gonna see a pullback he’s like no we’re not it’s gonna go straight to the moon man they won the case I’m like bro just wait man just wait if it goes up to 85 90 cents cool but if it drops down Your 2K will be worth 2 500 bucks right off the bat uh and so here we have it xrp one of the largest losers over the last 24 hours down 18.25 nothing goes up forever guys nothing not even xrp after winning a lawsuit so that is why even Though we get excited I was excited too we can get excited just when you’re investing your money try to take a motion out of it uh are you surprised that at um okay I know you’re not surprised at the pullback for us but are you surprised at how deep the pullback is Uh yeah a little bit this is I mean obviously everything ripped but I think most of what was the what was ripping yesterday um was probably a lot of derivatives traders that have since taken profits and filled some shorts right so I don’t know how much organic volume came in um yesterday But uh yeah I mean it’s it’s getting pretty bloody to be honest we’re running it all the way back down um which is to be quite honest you know a little bit a little bit surprising um surprise bitcoin’s been this stubborn to to go up Um taking a peek here at the S P 500 I mean s p 500’s you know flat over the day so it’s not necessarily that we don’t uh we know the Dixie the Dixie’s been falling too right the Dixie closed under 100 I know that’s pretty inversely Correlated with uh risk on assets so anytime the Dixie goes up the the value of the dollar strengthens risk on assets start to bleed off and vice versa we saw the Dixie going under 100 bucks uh and so I don’t know how much that correlation is uh for us uh but If if xrp continues to fall where can we expect it to find some support uh and if you want to talk through it through a chart please yeah let’s uh let’s jump into the xrp chart here while he’s pulling that up guys make sure to hit the like button if you’re New here say hello we have Long Mountain as opposed to a short Mountain studsy new Crypt I already mentioned your name a harp harp how you doing harp good to see you uh welcome to all of you uh all right Forest okay let’s go to uh Finance just so we Have like uh sorry kind of the thickest Market here uh let’s also throw on our easy bands uh let’s see what’s going on here first let’s uh let’s throw on our easy bands let’s go out to the let’s go out to the three day guys it’s always a Good idea it’s always a good idea to take profits and have a profit taking mindset when you hit these red easy bins especially an xrp uh we’re coming back down to the the red dash one right now maybe that turns into some support let’s zoom into maybe the four hour let’s just You know draw a very simple trend line here I’m not going to try to try to get too fancy um but you know just falling back down onto this trend line uh could take us all the way back down to 60 cents yeah a lot of people got really excited and I Remember talking about um xrp and you know asking the question like how how high could this thing go if if they win the case well I mean a lot of people are saying you know three four five dollars immediately and it’s just like that it doesn’t the market doesn’t work Like that it takes a ridiculous amount of money uh entering the market to push price up of an asset that’s in the top ten by cryptocurrency market cap um so initially just seeing these these easy ban levels uh being really well respected by by xrp so we’ve come up and Grabbed this one uh now we’re gonna see if we come down and find some some support here on the shorter term time frame in the red zone we throw on our margin pressure levels which did catch the top if I’m not mistaken at least I did on bitstamp Um looks like we front ran it a little bit on binance but stamp did get that high if we move these down to around our 21 week simple moving average and just kind of the this range low here or this this local low which is how I usually Use them that would have good as a profit Target of around 90 cents now that’s also giving us some support here at around 68 cents right 68 since we talked about yesterday I believe uh pull back to 71 cents being a pretty good area to bid currently sitting at 68 We’ve kind of blown through that 71 Cent level but uh off of this swing low we do have some support here if we throw on our short margin pressure levels if I can find a pair that’s closer um kind of have to zoom out and go and grab them Oh and uh someone in the gym is all the way over someone in the chat said uh they wouldn’t be surprised if xrp goes back down to 50 cents so a big pump and then massive sell-off uh I believe the same person also said this is the moment the people who have Been holding their bag since 2020 have been waiting for I don’t know of course self-speculation but you know intriguing to say the least yeah so around 69 70 cents with this red easy ban I I would not be surprised uh to be quite honest if we’re just spewing A little bit Bitcoin comes down to 30k holds 30k um if we you know can get some support on bitcoin at 30k we could reclaim 69 70 cents and that could be an interesting area to long so this ends up turning into a wick and then you get your Consolidation up here right and then we start uh moving back upwards otherwise the next level down is really 62 cents 62 cents uh is is pretty interesting and then you’ve got obviously your prior High here at around 58 to 56.um so this is not something that I Necessarily want to be shorting but it’s also not something that um I really want to be bidding on like high leverage or anything if you’re bullish on xrp and you want to take a little bit of a trade here at around on a reclaim right I’d be waiting for this To reclaim 69 70 71 and holding up here before before are looking to get along right now you’re just trying to catch a falling knife and I I don’t like doing that um otherwise take a peek at around 62 cents um yeah so I know that’s not you know extraordinarily um Well it’s here’s the here’s the thing too oh go ahead no no and I’m just gonna kind of you know back you up here but anyone who’s ever charted or done TA or trading when you see a rally like that like just a blow off top it’s hard to Find areas to settle uh support areas outside of what it’s been trading at or consolidating at for however long it was and so that is the unknown and that is why we talk about sustained rallies you want to see those bump and runs you want to see a breach of resistance and come Back and re-test to to build that support on top of the previous resistance and then take off and more like a ladder move up versus three or four God candles on the four hour and then bam the crash is sometimes is even harder and so that is why if you are a Trader not if you’re looking to huddle looking to huddle xrp it and you believe in it long term five ten years out 80 cents 50 cents your rate of return percentage rise is going to be the same sure can you get some more tokens sure can you get better entry price yeah but Can you miss out on a big rally yes and so you know if you’re looking to huddle for the next five to ten years 70 cents versus 50 cents is it really that big of a deal not really uh taking a quick look before we move on on the overall Marcus By the way guys when I came to the studio this morning this was all green now we’re like all red we’ll go to one hour it’s even more bleak everything is red not a single thing is green uh Biggest Loser Stacks near uh everything is pretty much five to Eight percent down uh which is fine you know what baby buying opportunities if you believe in crypto that’s what you see uh all right with that being said guys let’s move on to some oh uh thank you for mentioning that Long Mountain uh brought up liquidations I do want to share this I’m gonna refresh this from coin glass look at these numbers coming in 76 million dollars in Liquidations in the last one hour one hour that is massive multiply that by 24.not that good at math but that’s a lot of liquidations and if we take a look at the one hour 97.4 of those liquidations are Longs with uh Bitcoin leading the way at uh 24 million dollars worth of bitcoin being uh liquidated and so uh 10K incoming 10K is not income uh and so guys just you know keep that in mind all right let’s move on some big news uh polygon the rebranding Chain apparently as yet again rebranding their token from Matic to well Paul Pol o says I tweeted from polygons official Twitter handle today the next technical proposal of polygon 2.0 was unveiled Paul the upgraded token of the polygon protocol is a Next Generation native token designed to secure a line And grow the polygon ecosystem and says watch the video well here’s a video there’s really no audio to the video but it kind of gives you a visual explanation of what exactly it is that the Paul token will be doing uh so apparently it’s going to be one Token you can validate on multiple networks we know polygon did their evm uh they’re they’re only they’re essentially they’re on layer one they’re also Layer Two well apparently with this new token you’re going to be able to validate across multiple chains and it’s an all-purpose servicing all-purpose serving token a little more Detail Paul is a proposed technical upgrade of Matic if the community reaches consensus to adopt that medical holders will have their tokens upgraded a poll and a one-to-one ratio that will never be two native tokens so essentially an upgrade it’s like Gala did V1 to V2 same thing uh it kind of References Bitcoin although important and successful it is an unproductive token talks about how eth is a productive token uh Paul is the third generation of native assets a hyper productive token holders can become validators and receive rewards but with two major improvements validators can validate multiple chains and chain can Offer multiple roles and corresponding rewards to uh to validators so sounds like more rewards and what if I told you you’re scratching the surface and so I got the white paper pulled up what was interesting to me a couple things one is their uh their emissions rate is about Comes out to about two percent a year and then just to show what Sandeep tweeted the founder of polygon uh one percent proposed admissions for validators one percent proposed admissions for Community growth fund uh and then in the in the white paper though uh this is what I found and why Are you not getting bigger here okay there we go so five dollar average token during a five-year period which is a little odd um I’m just like okay you’re you’re putting up a price target of what the token you expect it to be in your white paper Uh Forest is that is that a little head scratching and what are your thoughts on this whole rebranding to the to the Pol token and the emissions and um yeah yeah that part uh where they put in five dollars I think they’re just like they’re just trying to pump the price Right it’s sitting here at uh what like 80 cents and they’re just expecting five dollars um yeah I mean look that’s that’s probably you know classic Sandeep uh I think it makes sense ultimately they’re launching a bunch of different chains so when you have a bunch of Different chains you don’t want to have like a bunch of different tokens because it just dilutes the value across those chains so you just have like one coin or I’m sorry one one token uh to rule all the chains so to speak and it’s kind of interchange interchangeable and Interoperable for all the chains makes total sense um I was kind of I think everyone was kind of like all right you’re launching polygon zkevm which is a separate chain but how is that gonna help Matic how’s that going to help the Matic poking at all Um and now we kind of see um there’s been a plan all along so um I don’t think this is necessarily like crazy huge amazing news um but I don’t necessarily you know it’s good I think it’s it’s solid it it makes sense it’s like the the logical thing for them to do Um yeah it sounds like it sounds like you would take on it besides that sounds like you would have made the same decision if you were in those shoes I mean it does make sense right uh the whole idea oh they’re they’re their approach to scaling scaling is just to create more Chains right so like you have you have Solana that’s trying to like scale all on one chain on the layer one you have ethereum that has kind of the slower more expensive layer one that’s like you know very secure and then you have these layer twos branching off of ethereum but They’re all like under they’re all being developed by independent you know people then you have polygon which is just creating like a bunch of different chains under their own polygon ecosystem umbrella so it’s just a different it’s a different strategy for uh for scalability and having one token makes sense so yeah Like I I you know with what they’re building it’s I think the most logical uh logical path and Forest uh you know I’m a polygon I’m a medic holder I know a lot of people watching on Matic holders um should anyone can you uh just real quick Talk about the process of how this would happen let’s say it passes I hold a thousand Matic tokens on either coinbase or my ledger am I gonna have to do anything like should I stop buying polymatic until the new token comes out or how does that work Uh if I’m not mistaken though I I don’t I I genuinely don’t know what their plan is for migrating the tokens they may be able to just update the contract completely so it’ll just natively change from Matic to uh Pol poll so uh my main Thing that I tell people is just do not do anything until you know with 100 certainty what’s going on don’t go click on some Link in sign a transaction in your metamask account because this is going to drain your it’s going to drain your wallet there’s going To be so many scams around this thing if you’ve got Matic you don’t need to upgrade the Matic 2.0 you don’t need to do anything manually uh wait until you know for an official instructions and I if I had to guess the way they’re going To do it is they’re just going to update the existing contract and you probably won’t have to do anything so if you see anything that’s trying to get you to upgrade manually or do anything like that it’s a scam unless you’re seeing it on like mainstream mainstream shows and Like on all the official Twitter accounts of of polygon that’s great advice because um you know anytime there’s upgrades or air drops or something happens scammers come out of the Woodworks and uh even if two three people fall for it they make money don’t be one of those two three people To fall for it uh all right let’s move on to another altcoin that’s got some news and well that is Ave the uh the I want to say the leading D5 protocol on ethereum um as far as uh users on a compound is in that in in the mix as well but it’s Go time of a stablecoin pass is community governance vote decentralized liquidity protocol Ave is primed to launch its native stable coin go on ethereum mainnet on Saturday uh close to a hundred percent of the voters were in favor uh go has been designed as a completely decentralized multi-collateral Sable coin excuse me With a fixed price Oracle it’s backing as such is completely transparent with go holders able to discern exactly which assets are held in the stable coins reserves during those initial launch users would be able to Mint the stable coin by providing or sorry supplying collateral into the Ave V3 facilitator Pool or through the flash Mentor facilitator ave’s V3 uh facilitator pool will have an initial borrow rate of 1.5 percent and a bucket capacity which is an upward limit on mints of 100 million go tokens uh now Forest is it too early for another decentralized stable coin what what do Stable coins do to a protocol we saw cardano the tvl on Cardona what happened when the jet stable coin came out can we expect the same for Ave what are your overall thoughts is this a good move are we too early for a decentralized stable coin share your thoughts Um no so this is this is fine um in my opinion this is this is good um it’s good for Ave it’s gonna give it’s going to give Ave a ton of Revenue so you saw that like 1.5 percent fee that 1.5 percent fee if I’m not mistaken Is going to the Ave treasury uh I would be absurdly bullish on Ave right now if that fee was going to go to Ave stakers but they can’t give it to Ave stakers because then that makes Ave security why is that for us they gave it why would That make you why would that make you extremely bullish for the people that maybe don’t understand yeah so imagine imagine you could buy one I don’t even know what the price of Ave is right now maybe like 80 something dollars if uh I don’t track that coin in particular but Let’s just say you bought one Ave for like 80 bucks and then you could stake it and instead of just earning like Ave tokens out of the treasury or whatever you’re earning which is just kind of like diluting you over time uh and inflating the supply over time you Actually got to earn real yield real Revenue uh in the form of those fees from those stable coin mints so you know if you could buy a a token an Ave token for eighty dollars and then the the revenue from this new stable coin uh protocol yields fifty dollars a year like let’s Say fifty dollars a year per token um then obviously the token that’s such a high yield that the token would have to reprice the Token would have to reprice to like probably somewhere around six hundred dollars right uh but because you’re not staking the token or the because those protocol revenues are Not being directed towards the token they’re being directed towards if I’m not mistaken the Ave treasury uh then it’s not as bullsh Still Still bullish they’re gonna have more money they’re gonna have more Revenue um which is which is always a good thing but yeah it’s just a multi-collateral Backstable coin so you know if you look at what uh what dye d-a-i is um dye is just you’re you’re putting up your ethereum as collateral and then you’re minting a stable coin without ethereum collateral um if I’m not mistaken what Ave is doing is it’s just allowing a basket of assets You know more than just ethereum um to be able to Mint a stable coin uh which I believe there’s been some protocols to do that doing that in the past but this is officially coming from like uh one of the largest lending and borrowing protocols in in all of D5 Um so I think it’s it’ll probably work well and it’ll probably be well executed if I if I had to guess um do you think it’s still too early for a decentralized stable coin um you know we saw jet launch there was a hype around it and then People stopped talking about it are people actually going to be using uh do they have to enough trust to be using a decentralized stable coin uh yeah I mean you look at what you look at die die really hasn’t had any issues um you know your other you know the Other two options are usdt and usdc which are are uh centralized uh this would be again and I haven’t delved super deep into this if I’m not mistaken it’s just an over collateralized stable coin right so as long as you’re over collateralized and you’re backed by actual you know real crypto with with Value and there’s a liquidation process that’s that you know works and you have all your chain link oracles hooked up so that they can track the prices and everything’s coded well into smart contracts then there’s you know obviously there’s gonna be smart contract risk and whatnot and you know The people can get super creative with trying to manipulate prices on certain assets to cause liquidations and it gets complicated but um I it over collateralize stable coins aren’t necessarily um you know something that I view is extraordinarily risky uh in comparison to like some of the algorithmic stuff That we saw with Luna and UST in the past okay um all right let’s move on from Ave to BMB kind of interesting I’m curious to get your take on this Forest uh BNB Beacon chain to add a panic feature that can halt the blockchain Uh I know we have a a couple blockchain devs in here I know aru I believe is a developer correct me if I’m wrong or I apologize but I love your opinion on this guys if and and also I want to note out there when we talk about articles uh If you haven’t had experience when we’re talking about decentralized stable coins and minting if you’ve had experience please share it because we’re all trying to educate each other and help the new people coming into our space so if we’re talking about something and you’ve dealt In that or that’s kind of your area of expertise please feel free to share it in the chat uh and then we might just comment on it uh the binance operated BNB Beacon chain mainnet is set to add a new feature in its upcoming hard Fork which will allow the blockchain to Halt The production of new blocks if certain conditions are met and this is expected to happen in just five days so July 19th uh uh it’s called on chain asset reconciliation Finance believes this could manage or sorry this could mitigate damage from potential cross-chain Bridge exploits uh Bridges Have failed uh they failed massively uh every like not every obviously I’m over exaggerating but a crapload of the hacks all happen on Bridges like rarely do we see it happen on the actual layer one it’s all on the bridge where that that area where one asset From each side just sits in there that is what gets exploited and it ruins things on both sides uh so binance believes this panic button can mitigate some of those risks on those cross chain uh Bridges Finance explained that under the BEP 255 user balance changes will be Tracked in each block and will be reconciled to identify any issues and set quote when there are reconciliation errors the blockchain will panic and stop producing new blocks Finance said the action would impact Downstream services such as Bridges deposits and withdrawals on exchanges but the DraStic action is necessary to protect the chain And its users well and uh how do we bring it back online well you’re gonna have to hard fork and address a Reconciliation error Forest is this going to is this taking it too far or or is this needed to kind of offset some of these major Exploits and hacks we’ve had on these Bridges uh the tinfoil hat time I mean with all of the scrutiny that binance has been under right now and a lot of people believe that like a lot of their net worth and uh and ability to operate is Tied up and and linked to the value of BNB in particular um this kind of rings the alarm Bells a little bit um and that you know this is like the timing of this coming after they’ve uh they’ve been under scrutiny and you know by the investigated by the the doj and SEC and whatnot so um you know look at the end of the day this is in my opinion a very centralized feature I’m not necessarily against centralization for the sake of you know decentralization but um just you know as long as users understand that this exists and they’re Still okay with using it it’s fine right like uh it’s you know I don’t use the be I don’t use binance Smart chain I I’m not a huge fan of BNB in particular um and it’s because of this I just don’t think it’s a it’s a super um valuable or or I Uh I don’t want to sit here and just trash binance marching it’s just to me as a user it’s just not something that I’m attracted to and this is you know just adding to the reasons for me to tonight what is it um and it’s interesting as well it’s interesting as Well that that the article mentioned um and let me find it uh it talks about deposits and withdrawals on exchanges as well you know you use a lot of D5 for us you’re playing the D5 me not so much as you um where do we draw the line of okay Let’s let’s try to protect and and kind of get ahead of these exploits and hacks versus let the code run itself is there a happy medium or you’re just gonna have to deal with it yeah I mean the whole the whole point of Defy is to be decentralized right so as Soon as you have like a centralized entity that can come in and freeze the chain or do whatever uh it just means that the D5 protocol or the chain was not designed well in the first place you shouldn’t have to have centralized intervention uh with you know with D5 or These decentralized Chains so it’s to me it’s like I’ve said for a really really long time like binance smart chain uh is you know super centralized and it’s just um you know not something that’s extraordinarily attractive to me it’s yeah I mean it is what it is like if Users want to use it that’s totally fine just understand like they have the ability to do this uh please understand that they do have the ability to do this and uh you’re just gonna have to pick and choose right are you willing to go for a more centralized entity and potentially save Yourself from exports and X or do you care more about decentralization is there a happy medium I don’t know will we get there potentially speaking of getting there uh we are running a contest so if you haven’t heard cryptos are us and Sin City crypto have come Together to form a bond and to throw a amazingly massive and fun party here in Las Vegas on July 29th if you want to join us and you’re wondering how well we have an idea well not an idea we know exactly how we have a ongoing giveaway happening and you see a uh Something pinned to the top of this common pin to the top of this chat and that is our giveaway we’re doing 10 free entries to the Vegas party and that is one of two only ways to get in the other way is if to have if you have a we are All George nft uh which if you’re from our community maybe you do maybe you don’t but regardless if you think you can make it to Vegas July 29th at the Mandalay Bay Foundation Room enter the giveaway pretty simple subscribe to us on on uh YouTube and if you already subscribed just click the Link and then follow us on Twitter and if you’re already following us just click the link you’ll be given a valid entry and we’re gonna pick 10 winners on the show on Monday uh and if you’re a winner you’ll get a plus one as well you Get to come in here and I have some pictures here of the Foundation Room at the Mandalay Bay pulled up just so you guys can see by the way it’s going to be open bar uh free food we’re gonna hang out you’re gonna meet a lot of Industry Uh not just influencers but you’re going to meet a lot of um projects as well uh project Founders managers and so this is kind of the it’s literally the top floor at the Mandalay Bay so uh we got this one rent it out it’s going to be an amazing time I will Be there Rob will be there Rocco will be there George will be there among other people and so guys again if you want to come you want to join us and have fun click the link uh let’s hop on there that’s what the hell am I saying I don’t know click the Link that’s pinned to the top of the comments also I want to give another shout out to channel sponsor cams blue wire technology uh make sure to visit bluewiretech.com if you want to maximize your networking and I.T uh they are Channel sponsors so big shout out to them Also big shout out to my man Forrest thank you so much for joining us all week my friend um you looking forward to your weekend what do you got anything planned ah nothing nothing really I’ll probably try to play a little bit of golf if the weather’s nice but otherwise uh nothing Too crazy just work research uh immediately after this live stream I’m gonna do some research and try to figure out why this Market’s going down uh right now to my knowledge it just seems like it’s a technical move um I wish I had a you know a better reason for why For you guys for why it’s going down a lot of times though um you know we get some breaking news and we find out all along it was you know insiders that knew something that hadn’t been released yet so um right now it just looks like you know Uh people got way overextended uh aping in on Leverage yesterday and now they’re just getting washed out and liquidated and uh in my opinion it’s probably if you’re using low leverage and you know some spot buys it’s probably a decent dip buying opportunity um knock on wood I could always be wrong And maybe we go down from here but everything still seems uh generally generally bullish so um hopefully some spot buys here will be what will pay off in the next couple weeks um yeah that’s you know kind of a roundabout way for me to answer what I’m Doing this week that’s okay man uh guys if you don’t have the time to do the research for us does and well you want access to that research first you’re going to want to follow him on Twitter at zero zero Forest that’s for us for Two hours and then if you want access to that research uh there is an affiliate Link in the description of this video uh go on there your support for us support the channel the man puts a lot of time and effort into his research and Uh so for us we thank you as always also a big shout out to Rocco who was that that’s been a uh member for nine months all right Daniel thank you to all of you that support this channel whether you’re a channel member or you super chat or your gift Membership so whatever you do thank you all so much we appreciate it also follow us on Twitter at Cincinnati crypto1 there’s plenty of other ways to support the channel there’s plenty of ways to follow us and just follow us also merch store anyoneclypto.com you’ll find Sin City merch but also other merch as well Bitcoin xrp cardano ethereum you gotta ship anyone on there Shiba Inu a lot of the fun stuff and with that being said guys I’ve spoken a lot my mouth is dry and can’t seem to formulate correct words so with that being said Rocco All right guys thank you so much for tuning in it’s been an amazing week it’s gonna be an even more amazing girl week next week come back on Monday we’re gonna do the drawing have a great weekend on behalf of all of us here we love you guys Sand City crypto everybody know we here for entertainment and info gonna show you how to get that big dog so every day stay tapped in for big facts no capping well Bitcoin if you’re in then you win we divide the pipe with no fraction it’s Big rock David I spit the game but they gave it named according to your favorite I got dry powder why save into the OG’s new beginners but shout out to the whale members buy dip sell winners ain’t really nothing you can tell centers tune in for the latest new flavors they gonna Teach us men coins they pull a pricing like barbecue chicken pizzas I laugh with a major grin lag as we trade them in baddies that came to sin and sinners gonna play the wind screaming hola till my bags are flowing over I Hold Ya to the Moon into the solar Bona don’t be Letting fomo control y’all Foreign With the Ripple XRP ruling victory behind us, altcoins are continuing to melt faces! 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#Bitcoin #CryptoLive #sincitycrypto #Cryptocurrency #Crypto This is NOT an offer to buy or sell securities.Investing in cryptocurrencies is extremely risky.We at Sin City Crypto are avid investors in many cryptocurrencies, including Bitcoin, Ethereum, and many large and mid cap altcoins.Here are some crypto coins we discuss on our live show and are fans of (in no particular order): BTC, AAVE, ADA, SOL, ALGO, HBAR, XRP, ATOM, LINK, QNT, DOT, AVAX, GALA, MINA, ETH, RUNE, LINK, MATIC, IMX, BNB, MANA, SAND, THETA, FIL, VET, ICP, FLOW, CHZ, ENJ, LRC, APT source.
