Cardano – ADA Ethereum – ETH ETHEREUM Cancels WITHDRAWALS | CARDANO’s FIRST RESET | SELLING GBTC & The DOLLAR Foreign Podcast where we talk about crypto blockchain investing and other news right here in the finance space hopefully everyone is doing well today we have a lot to talk about we’re going to be talking about ethereum canceling withdrawals cardano goes down dumping gbtc and the dollar and much much more We’re going to be talking about uniswap Amazon Samsung Ledger and Bitcoin coinbase and grayscale Bitcoin trust we have a lot to get into in today’s video so do me a favor give the video a free thumbs up I upload every single day of the year to bring you the latest Happening in the financial world and we are switching back to our normal publishing time of 8 30 a.m eastern time we changed it to an hour later at 9 30 and this definitely affected the algorithm so we’re going to be moving back to 8 30 in the morning and four Short videos every single day so do me a favor give those a thumbs up as well uh so following up on a story that we did yesterday about Brazil and Argentina are preparing for a common currency and moving away from the Reliance on the dollar this is what we’ve been seeing Happening in many Latin American countries and we’re also seeing this happen in many parts of Asia including Russia China and uh more right because right now the US dollar is the world Reserve currency but as you guys know and as we discussed in this channel on a regular basis The debt is money printing I know that there’s some confusion about that here in the comments but uh the debt is money printing right it is taking out debt and you know issuing treasury bills and all of that but essentially what happens here is the treasury uh will create a a Bill or a bond bring it to the Federal Reserve the Federal Reserve will take that convert it into money and then you know basically the US government has to pay the Federal Reserve back even though they’re never going to and this is where we have the U.S national debt so this is All money Printing and every single time that they print a dollar the dollar that you have in your pocket gets devalued by a fraction of a you know a fraction of a fraction of a penny when you’re talking about this on trillions of dollars of uh you know in monetary stimulus and Printing this essentially devalues your currency substantially this is why we’re seeing prices moving up now in the U.S this can be offset uh through the U.S economy because most of this money that’s getting printed is getting injected into the U.S economy rates going to companies it’s going to people It’s going to stimulus all of that but in these other countries that rely and utilize the dollar they’re not getting all of this money so their devaluation occurs at a much faster pace and their inflation happens at a much faster rate and this is why we’re seeing many countries around the World that are looking to get away from the dollar well now the CEO of coinbase Brian Armstrong posted on Twitter in response to this article about Brazil and Argentina working together for a common currency saying quote wonder if they would consider moving to bitcoin that would probably be the right Long-term bet now this is definitely something that they probably may do because the thing is if every country creates their own currency this creates you know a lot of mismatching and a lot of volatility in currency valuations especially when you’re trading around the world with different countries but What El Salvador has done is they have moved to bitcoin as other form of legal tender besides the dollar and essentially they’re trying to transition their their population away from Reliance on the dollar especially if if you have two currencies right that you can use Bitcoin or the dollar and Bitcoin’s valuation to the dollar continues to increase but your actual dollar relative relative uh strength or even absolute strength continues to decline what are you going to use as a citizen of that country most likely people are going to start to move to bitcoin especially as inflation continues to get Worse because what what a lot of people in the US don’t understand and this is where people outside the U.S I feel like they understand a little bit more because the inflation hits them at a much more rapid pace is that well they probably don’t understand the full Concept of this but they understand that inflation affects them more than it affects Americans every single time that they raise the debt ceiling which they’re going to do and take out more debt and print more money what they’re doing is they’re ensuring that in the future whether it’s six months down the Road one year down the road two years down the road or whatever they’re gonna have to print more and more and more just to keep pace and keep the status quo uh and that’s what we’re seeing happening right now right that’s why we’re seeing in inflation that’s why We’re seeing the debt increasing at much faster rates because that’s how it happens right it’s like you know a little snowball rolling down a hill it’s slow and it’s small and then it picks up more and more and more and then it goes faster and it becomes bigger before you Know it you have a a crater coming down the mountain right and this is where the debt stands so it wouldn’t surprise my me either if they did move to bitcoin because this is a Global Currency it’s not controlled it can’t be manipulated and I mean for the most part and um you Know this is where we’re seeing a lot of countries moving to digital assets and it will allow these countries to to transact and interact with countries around the world and allow their their people their citizens to also interact with other countries with other monetary systems and other economies around the world as well So it’s going to be really interesting to see what happens with this I would imagine we’re going to hear more about this in the next few years El Salvador announced that they were moving to Bitcoin in the midst of the bull market so I would imagine we’re going to hear More countries moving to other currencies or Bitcoin during a bull market as well which will probably be middle 2024 early 2025 uh we will wait and see uh let me know what you guys think about this now also talking about coinbase Kathy Wood her Arc invest ETF dumps 500 000 grayscale Bitcoin Trust shares and adds coinbase stock as Bitcoin recovers 40 now I’m going to be doing a story tomorrow on what Tucker Carlson theorized that this little jump that we’re seeing in the market could have to do with the ransomware attack if you guys remember just last week in the Middle of January 2023 there was a flight basically flights throughout the United States were grounded because there was a a an issue with their with their flight system control or something like that their computer system that operates you know all the flights and it went up you know fairly rapidly after That but what Tucker Carlson I’m gonna show you guys this video tomorrow in the video uh that we do it basically theorizes that the price increase that we’re seeing in Bitcoin could be due to a ransomware attack because most ransomware attacks are paid in Bitcoin and if the U.S government was paying This you know ransomware attacker to uh release the software well you know would they number one would they even tell us that that’s probably not and number two it would probably be hundreds of millions of dollars worth of bitcoin that they would have to buy and that could potentially push the price up Especially if they’re doing it over a very short period of time so it’s an interesting Theory I don’t know that it’s it’s true or not I we may never know if it’s true but it’s just something to think about but we’ve also talked about uh you know Arc invest Buying grayscale buying coinbase is since the November member time frame but now we’re hearing that they’ve dumped a huge load of grayscale Bitcoin trust shares Arc invest added 450 000 shares of grayscale Bitcoin trust to the arc Next Generation ETF in November at the time gbtc was trading at 750 to about 9.50 versus the 12 25 that it’s trading at currently in January now I think they did this just uh the other day within the last few days uh this this dump so you can see 12.50 compared to that uh 750 or 950 so that’s at least a three dollar increase Or about a 25 gain and at 750 a much higher percentage gain so we know grayscale Bitcoin trust moved up along with Bitcoin and the recovery in January helped reduce the gbtc discount from nearly 50 percent of a discount to nav to 40 cents a 40 according to these Charts interestingly enough the share price rebounded uh coincided with a reduction in Arc W’s gbtc Holdings by 500 000 shares suggesting that they took profits in the short term um they are reduction in the shares since November appears to be in line with its officially bearish view on the Grayscale Bitcoin trust as mentioned in its the arkhanvest December report which stated the dcg or digital currency group appears to be one of the biggest question marks in the crypto industry at this time now a lot of that probably has to do with Genesis them trying to sell Coinbase uh we we just heard that Genesis offloaded a significant portion I think was um did I yeah I pulled up this uh tweet about they also offloaded a lot of gbtc Genesis filing reveals their bankruptcy filing reveals that 31 million shares of grayscale Bitcoin trust was sold by Genesis in the last few months this explains why the spread has widened so aggressively and clears a large overhang from the future now there’s still as we’re seeing Kathy Wood her Arc invest uh ETF they’re still fairly bearish on grayscale there’s a lot of bearish calls On crypto listen I don’t know what is going to happen in the market nobody really does right I just hear I’m hearing all of these recession recession recession 2023 is a recession over and over and over and meanwhile I’m like did nobody live in 2022 like that was the Recession every year we may have a very hard year in 2023 we’re seeing already a lot of companies are laying people off you know Google just laid off 10 000 employees Amazon Microsoft all of these major companies are laying people off and that could have Ripple effects on The real estate market on the economy and Etc so we’ll have to wait and see but as I’ve explained and laid out my investment thesis has not changed when we’re talking about Bitcoin and crypto prices generally speaking I do think that there’s going to be a lot of Volatility I’ve stated that I do think that we’re going to see some still more uptrend into the middle of the year I’m thinking between like April May June and July right that four month time frame is when I think that we are going to Peak when it is going to be Exactly I don’t know but I’m kind of guesstimating it’s going to be from uh end of April May June or July that we’re going to see that Peak and that coincides with the Litecoin having cycle am I selling crypto currently uh I’m trading crypto I’ve told you guys and We’re gonna be talking about cardano a little bit later in this video that I’m probably going to sell into this this uh Peak for cardano because there’s just a lot that’s going on in the the news that we heard today about cardano going down for a few hours and the notes not being Synced I don’t know about where the price is going to go this year right during a bull market I think that cardano is going to go significantly higher along with many of these other cryptos but this is why I’m saying like you have to make your own investment decisions I’m Telling you what I do with my investment strategy and thesis I’m still buying grayscale products I’m still trading grayscale products I’m still fairly bullish on grayscale products I don’t think that anything’s necessarily going to happen generally speaking with the overall grayscale uh trusts in general like they may I don’t think they’re Going to liquidate them which is a lot of what the fud has been about but typically whenever I hear oh we’re in a recession we’re in a recession we’re in a recession we’re not in a recession we were already in the recession last year we heard we’re not in a recession the Year before that we heard don’t worry about inflation it’s transitory and then what happened it wasn’t transitory in 2022 we had very high inflation they told us last year we weren’t in a recession they’re telling us this year we’re in a recession so everybody freaks out and it’s kind of like they’re Manifesting a recession to to occur so I don’t know where we’re gonna go we’ll have to wait and see what happens with that now also talking about coinbase coinbase seeks brand exposure with Germany’s second largest soccer club now uh this is in the midst of the bear Market you know coinbase is is you know they’ve laid a lot of people off they’ve shut down operations in Japan and now they’re not shying away from advertising despite cutting costs in other areas The Exchange is strengthening ties with German soccer club Borussia Dortmund hopefully I’m saying that right probably Not after establishing a partnership in July of 2021 a club displayed ads for coinbase on screens in its stadium and held crypto related educational workshop for its employees the partnership is now leveling up as advertising will expand across marketing channels including ads on the Club Stadium perimeter boards Which will enhance virtual exposure for coinbase or local events now obviously Germany is a huge crypto Hub there’s a lot of developers there there’s a lot of crypto holders there Etc and I don’t think that’s necessarily a bad thing for them to be supporting you know the the local you know um The locals teams and stuff like that but I don’t know how much really this does for increasing their their revenue I don’t know how much this does for increasing you know like think about FTX right FTX was their name was on stadiums their name was on every single uh Major League Baseball Umpire their names were on soccer teams and all of this right and like it didn’t really do anything for for FTX you know uh customer acquisition tazos was the same thing Terra Luna was the same thing so I’m not saying that coinbase is going down it just doesn’t really make sense To me why they’re they’re advertising when they’re still cutting so many costs other in other areas and they’re saying they don’t have a lot of money I think that there’s a lot more direct to Consumer advertising they can do through social media advertising through influencer advertising and stuff like That versus you know but maybe this is just to show their support for the local teams because in in different parts of the world people are extremely um be supportive of their sports teams and like very gung-ho so maybe that’s part of it a coinbase spokesperson told blockworks that the exchange intends to Keep all its current Sports sponsorship commitments for now the partnership has a time period and will reportedly last until June the club’s managing director indicated that the Prudence is due to the crypto industry still being relatively new saying that’s why we want to keep our flexibility open so we’ll See what happens over the next year but again coinbase is staying in the spotlight coinbase is still doing a lot of big things and the stock is still uh performing in this very historically low area right obviously we bottomed out at around 30 just a few months ago but now We’re almost double that but this is still fairly small right 12 billion dollars they still they cost any more crypto than that I believe during the bull market their revenue is going to be much higher than this especially if you compare uh coinbase for instance right 12 billion dollar market cap to PayPal For instance right PayPal’s market cap 90 billion dollars if if we look at I don’t even want to pull up Apple but we’ll pull up JP Morgan JPMorgan largest bank in the United States 402 billion dollars and where do they make most of their money they make it Off of poor people who are paying very high interest rates on their debt AKA credit card debt right um and JP Morgan I think last year they made about 33 billion dollars or something like that in profit and that’s after all their expenses all their stock BuyBacks they made that in profit and uh you know this is not coming from rich people this is coming from poor people who are paying overdraft fees you know all these fees on their accounts for not keeping the minimums and also for for high interest rates on credit card debt And I don’t know why anybody would allow JP Morgan to be getting that much profit like the bottom line is figure out your debt situation and get out of get out of credit card debt this is the worst type of debt that you can have um so anyway let me know your thoughts On that moving right along Ledger the hardware wallet company and by the way if you want a ledger Hardware wallet use my link Down Below in the description of this video it brings you directly over to The Ledger website and you know you can get a ledger Nano Hardware wallet You can get accessories for it you can get the Ledger Stacks wallet which is the new touch screen stackable wallet and this is all for you know hold your crypto in Cold Storage offline it’s secure and if you guys want one use my affiliate link down below it lets them Know that I sent you over there and it helps support this channel right here on the cryptovisor podcast if you want to know how else you can support you can support by giving the video a thumbs up or you can become a channel member by clicking the join button down below Right here on YouTube if you’re on an Apple device you have to click the link Down Below in the description of this video or go on a desktop or other mobile device outside of Apple that way you know Apple doesn’t get the 30 fees for Uh from Google for that so yeah if you want to support give the video a thumbs up click one of the affiliate links Down Below in the description for a ledger Hardware wallet or you can become a channel member for as little as 199 a month thanks for all the channel members Who have joined recently all the long-term channel members I appreciate you guys so much so anyway Ledger is now teaming up with Samsung Mobile and by the way I’m also seeing that Target now has in some of their stores actual full Ledger Hardware wallet they sell them there but they have like A full display of what The Ledger is how to use it and all of that in some Target stores which is pretty cool but Samsung and Ledger X bundle is here and this is not in the US this is in Deutschland which I’m guessing is Germany um I could Be wrong on that but I’m pretty anyway we’ll just go with Deutschland or Denmark I don’t know anyway um so pre-order and receive a 100 euro Samsung voucher and a web 3 starter bundle that includes a ledger Nano X and this is what they linked to from Ledger They said for everyone who wants to get a 100 euro Samsung voucher and a web 3 starter bundle click this link registration period begins and ends uh February 1st and it goes it brings you straight to Amazon in D Deutschland de and I tried to translate Most of this page some of the page is translated some of it is not but essentially you can get an nft starter package with your Ledger Nano X for a set price and a 100 euro voucher and they’ve teamed up with Galaxy and we know Galaxy we know Samsung they are a Very Pro crypto brand they have the the Samsung blockchain which fortifies their nox uh security system and um you know data protection on their platform if you guys can translate this for me on the screen uh that would be great otherwise just kind of let’s just Go with it that you get this bundle with Ledger and Samsung and they’re partnering with uh with Ledger for a nano and a 100 euro uh you know voucher I’m guessing for Samsung but maybe not I don’t know I can’t read this so that’s a big uh big Issue but anyway I thought it was pretty cool to bring this to you guys to show you that you know there Ledger is expanding at a very rapid pace and this whole you know self-custody movement is still gaining traction as you guys know I’m still a little bit like you know I I Believe that some people need to have the centralized uh authorities you can now have crypto with infidelity accounts you can have it on PayPal um what other services cash app and these services will custody the crypto for you now I know a lot of people don’t Want you know they they don’t want their their crypto to be uh you know locked they don’t want to have withdrawal issues listen I mean at the end of the day then maybe take some of it and put it in cold storage and keep some of it On the exchanges keep some of it on these other services but we’re moving to a point where crypto is becoming a banking item where banks are like Fidelity are allowing access to crypto directly through their their platforms and PayPal is doing this and Fidelity is doing this and cash app is doing this And this creates the ability for everyday people who don’t understand all of this don’t care about like you guys are in crypto and a lot of these like know your keys not not your keys not your coins people who like preach self-custody they don’t understand majority of people at least in the U.S That are buying cryptocurrency don’t give a about the blockchain they don’t care about nodes they don’t care about proof of stake they don’t care about staking majority of people don’t care about this they are buying Bitcoin for an investment opportunity they’re buying Dogecoin because they think the Price is going up they don’t know that Dogecoin inflates by 5 billion per year they don’t understand the maximum Supply how it’s devaluing the actual price of Dogecoin they don’t know they don’t care that’s not why they are buying these coins and that’s something to really Keep in mind obviously we want people to be educated on what they’re buying that’s why I have this channel to help educate people on investments on how to invest on investment Cycles right not Financial advice these are just my thoughts my opinions and my strategies that you can take this and learn and Come up with your own investment strategy but let’s be real like most people are not buying Bitcoin for this reason right so they don’t care they’re not going to learn how to self-custody they don’t care how to self-custody and honestly it’s probably a high risk for them to self-custody I know this is Going to be controversial but it is what it is right I mean like think about it like most people like they cannot walk and chew gum at the same time as you know certain YouTubers hearsay right but you know go go watch some YouTube videos about people’s in uh you know uh People’s you know Investments and their Financial Health right there’s this new Channel that I watch that they basically audit people’s financials and you know like these people have no idea but meanwhile they have Dogecoin and Bitcoin but they have a 400 credit score and they’re you know they have debt with you Know 40 50 60 interest rates that they’re not paying off or they think they’re paying off but they’re not because all they’re paying is the the interest rate on that debt and meanwhile they still hold Bitcoin and Dogecoin and when the person’s like sell your Bitcoin and Dogecoin to pay off this debt They’re like no it’s going higher and like you don’t understand like Bitcoin may go higher by 50 but you’re still you’re going to lose that all in what you’re paying in interest rates right and that’s just a few people that they’re interviewing on this YouTube Show there’s a ton a ton of other uh people most people in the United States are in debt I mean like literally you could look at the U.S debt Clock it says it right here middle of the page credit card debt 1.212 trillion dollars in credit card debt 1.7 Trillion dollars in student loan debt so all together that’s three trillion dollars in actual people’s debt now if obviously some people are not in debt but a lot of people are so they’re not investing in crypto because they want to learn about blockchain and they want to learn oh Well tell me what vitalik says about sharding and ZK Roll-Ups they don’t give a about any of that guys at all like period they are buying into it because they want to become wealthy and granted I think that they should learn more about their investment you know That they’re making but you know this is not how most people operate right so understanding that uh we do need those centralized uh you know parties to help custody crypto as well but I do love that seeing that you know Ledger continues to expand they’ve been a huge supporter of this channel Um you know they’ve been a great help to to you know helping people learn about self-custody uh you know anytime I’ve reached out to The Ledger team and the affiliate team over there they’ve been very very helpful I think that we’ve given out ledgers for uh giveaways prior And they’ve also said that they would support future giveaways for this channel so you know they’re supportive and if you guys want to help support this Channel and buy a ledger use my link down below it’s an affiliate link it lets them know that I sent you over There and it helps support this channel thanks guys so much for your support let’s move on America’s first nuclear-powered Bitcoin mining Center to open in Pennsylvania and by the way we have other news topics to get into besides Bitcoin we’re going to be talking about ethereum cardano uniswap And much much more in just a few minutes so stick around and give the video a thumbs up my IQ is probably five thousand just joking you most of you guys are way smarter than I anyway with the expansion of the crypto sector Bitcoin mining is becoming increasingly mainstream zero Carbon data center manufacturer cumulus data subsidiary of independent producer Talon energy has completed the power shell for its First Data Center powered by a 2.5 gigawatt nuclear power station according to World nuclear news on January 18th the 48 megawatt 300 square foot data center is directly connected to the Susquehanna nuclear power plant In northeast Pennsylvania and it’s 12 1200 acre campus is expected to host a Bitcoin mining and Cloud Computing Services for the first of its kind in the United States commenting on the development the data center as CEO said our Flagship cumulus Susquehanna data center Camp well that was a complete Tongue twister our flagship cumulate Susquehanna data center campus is positioned to welcome its first tenant and commence commercial operations this year we look forward to advancing our mission to solve the energy trilemma which we Define as rapidly increasing consumer demand for zero carbon low cost and reliable electricity by data center Customers now we’re hearing more and more about nuclear energy I don’t know that much about it um I do know that that Elon is a supporter of it that this is getting a lot more traction in mainstream for you know a little bit of cleaner energy more sustainable energy you know what the Risks are I don’t know I would imagine that there’s been a lot of studies and development there but I thought this was an interesting article because it kind of goes into you know Bitcoin and the energy usage of Bitcoin throughout the world and as we’ve been talking about New Hampshire Mississippi Missouri Texas Florida these are Wyoming Nevada they’re all becoming very Pro Bitcoin mining areas in the country and meanwhile New York is is going to single-handedly single-handedly New York state is going to save the world by Banning Bitcoin mining uh because they are going to that’s going to save the planet and save The world from climate change one industry using a very small percentage of power compared to the rest of the world and just one state in the in the country right in the world is going to ban Bitcoin mining and the rest of these states are actually expanding Bitcoin mining and encouraging Bitcoin mining And it seems like New York is is incapable of understanding that these companies are incentivized to make the power cleaner safer faster and more efficient and cheaper and by doing they need to be able to operate to be able to be incentivized to do that and but New York They want to ban Bitcoin mining because they say that it’s it’s hurting the environment well every other state is actually expanding on Bitcoin mining so I don’t know how New York is going to single-handedly save the planet just by Banning Bitcoin mining doesn’t make sense it’s completely ridiculous and uh It’s more like virtue signaling versus actual um you know like if you ask a New Yorker like oh you know they’re banning Bitcoin mining in the state due to energy consumption what do you think about that like most people would probably say oh yeah that’s a good idea you know we need To we need to save the planet and all of this and then if you sits them okay but every other state is expanding Bitcoin mining and they’re actually finding ways to support the electricity grid and also look at new technologies uh like you know nuclear energy and stuff like that They’d be like well nuclear energy is probably not safe and it’s like well regardless of what you think the state right next to New York is doing this currently and a lot of other states are encouraging Bitcoin mining so all the business all the money is going to leave New York and go to those other states and they’ll be like yeah but we have to save the planet okay okay anyway moving right along um it just it just it annoys me because it just doesn’t make sense right if it made sense what they were doing like I Understand they they want to protect the environment they want to save the climate I get that but they’re not looking at JP Morgan they’re not looking at all of the cars that drive and sit in traffic in New York City every single day every day for years and years and Years they’re not looking at all the trucks that are you know traveling all the planes that are going into the three airports throughout New York and uh Long Island right and by the way there are more than two major airports in New York and um you know they’re not thinking About all that they’re just like well no Bitcoin is bad for the environment it’s like okay how much energy do those trucks that go to ATMs into all the banks for money pickups every single day create uh you know fumes into the into the atmosphere and all of that nobody talks about it They just talk about Bitcoin mining which makes no sense anyway moving right along unit swap poll shows 80 support for decentralized crypto exchanges move to binance chain well a temperature check to gauge support for uniswap’s Community for a possible move to decentralize exchange version 3 protocol To BNB change saw some 80 percent of uni token holders voting in favor of the proposal voting on The Proposal floated by plasma Labs ended this past Sunday with about 20 million tokens casting votes in favor of the move they set our proposal to deploy uniswap version 3 on Binance chain has passed the temperature check with 20 million voting yes and 64.95 unit voters um the biggest number for whole unit swap governance so you can see right here about four almost five million unit swap tokens voted no I’m gonna pull up the full image so you can see it clearly um And by the way this is towards the end of January 2022 5 million uni voters voted no 20 million uni voters voted yes they said the proposal will authorize Oxo labs to deploy uniswap version 3 protocol to the binance proof-of-stake chain on behalf of the community we Believe this is the right moment for uniswap to deploy on binance proof of State chain for many reasons one of them is license expiration uh so the chain breakdown it also shows here is ethereum 3.41 billion dollars polygon 101 million dollars Arbitron 85 million dollars So uh the vote has has showed that the community is down for it unit swap like other dexes relies on Smart contracts to match trades and Supply liquidity between Traders it locks up over 3.4 billion dollars worth of various tokens across five blockchains with version three the latest iteration commanding 2.6 billion dollars of that figure according to D5 llama so you can see defy uh ecosystem is still growing the the activity and the development on these ecosystems are still growing as we always say the bear markets are for building so we are in a bear market Prices are down a lot of people have exited the markets where they’re actually exiting their positions or just exiting their interests in the markets currently because of where the markets are kind of almost sideways training we have gone up a little bit but most people have missed the the bottom of the Market because they were obsessed with FTX and Sam bankman right so there’s a lot that is going to happen especially if we have rallies and then we have dips and then we have rallies and then we have dips as I said we’re probably going to move higher into the Middle of the year and then we’re probably going to dump significantly until we start approaching closer to the Bitcoin having cycle which will probably we’ll see probably most of the volatility occurring at the end of 2023 early 2024 and then we’re starting to see them move up uh you know after the Having which is going to be happening around uh March April time in 2024 so there’s a lot that’s going on there’s a lot of development going on there’s a lot of movement in to you know preparing for a common currency people re uh allocating their portfolios like Kathy Woods Arc invest we’ve been a lot of people who watch this channel have been adjusting their portfolios and I think this is healthy right I think this is a healthy way to invest not just be stuck in one like oh no I’m a Bitcoin Maximus although I’m becoming more and More as time goes on I become more and more a Bitcoin maximalist because the more hacks we see the more issues we see the more um you know back and forth about this as a security that’s not a security this should be banned this should not be Banned this is centralized well it’s not really centralized it just makes me go back to like what there is almost no drama in Bitcoin itself and this is why uh you know I look at Bitcoin as insurance right insurance on my future insurance for my retirement uh where Everything else as I say on a regular basis these are just conversations right I own quite a few different cryptos very small portions most of them um but really when we’re talking about the grand scheme of crypto and the the where it’s going right Bitcoin is like out of All of this regulatory issues Bitcoin is being integrated into countries it’s being integrated into companies it’s being integrated as a store of value and pretty much no other cryptocurrency is in that situation and this is why I think that you know Bitcoin Maximus I understand why they’re Bitcoin maximalist but I also am looking at as a trading opportunity right I do think that regardless of where you know whether Bitcoin is the only crypto that people should own other cryptos are going to go up right so this is an opportunity to make money and increase Your wealth and also increase your Bitcoin position by trading these other cryptos or owning these other cryptos for that hedge but these people who are like other coin maximalists like ethereum maximalists and they don’t even acknowledge that JPMorgan owns that blockchain it doesn’t make sense to me Like are they just not seeing it or are they just oblivious to it or whatever um same thing with xrp Maximus cardano Maximus Solana Maximus polygon maximalist it doesn’t make sense like that they’re all in on these coins that are not regulatory compliant necessarily there’s still huge questions about Whether they’re Securities or not where they’re going to be able to get traded are they you know going to actually you know complete the development that they’ve been promising for years and years and years you know Bitcoin doesn’t need to promise anything Bitcoin just operates ethereum needs to promise a lot Of things so we’re gonna be getting into ethereum in just a minute here but you know they’re promising Shanghai upgrade there’s promising release of the crypto that’s in the deposit contract cardano’s promising you know five stable coins they’re promising integration with governments like Bitcoin doesn’t need to promise anything guys because it there’s No centralized Authority there’s no marketing team well the Bitcoin Maximus or the marketing team but you guys get what I’m saying they don’t need to promise anything because Bitcoin is just Bitcoin all these other coins have to promise something else that’s why you shouldn’t be in Bitcoin so I think over Time most people become more concentrated in Bitcoin uh even people that I know who were in crypto way before me and they do like buying altcoins and getting into nfts and all of this they are basically Bitcoin maximalists right everything else is just to make money Bitcoin is the thing So I think as time goes on most people will become Bitcoin maximalists especially with all the extra noise that’s in every other coin and every other blockchain ecosystem and really the idea here is that you need to understand what is going on in those ecosystems to understand whether you’re Going to make money or not in Bitcoin you don’t really need to you just need to understand it’s an anti-debt unit of what store of wealth right uh so the latest ethereum Shadow Fork brings blockchain Shanghai upgrade closer to reality now you know I tell you guys all the time There’s people who like will literally write in the comments well I’m unsubscribing because you said something that I don’t like about this coin I’m like bye don’t you don’t need to announce your exit just unsubscribe you know and those people they are going to lose and they are so insecure with their Strategy of investing that’s why they don’t want to hear anything that doesn’t doesn’t closely mirror their maximalism to other coins I do believe that within five or ten years I’m gonna be a full Bitcoin maximalist if I’m not already right um and I don’t think that you only Need to hold Bitcoin to be a Bitcoin maximalist I think that you just have to understand that Bitcoin doesn’t have all of these other issues right think about it ethereum last year the whole big thing was oh we’re moving to proof of State proof of stake the merge the merge Everybody’s so excited about it I told everybody on my channel one month before the merge this would be a non-event it wasn’t changing anything about the blockchain it was not changing anything about the price and sure enough the price didn’t even really go up into the fork into the merge it actually went Down and now they have to promise something else which is the the Shanghai upgrade which what is the Shanghai upgrade actually going to do is it really going to fix the blockchain and fix all the major issues major issues are the gas fees major issues are transaction throughput and scalability well ethereum Developers said that they successfully copied the blockchain known as a shadow Fork to provide a testing environment ahead of the crucial upgrade known as the Shanghai hard fork in the hours since that shadow Fork happened there’s been some glitches with ethereum’s nodes that use the Geth clients according to a Software developer at the ethereum foundation a client is software that is used by the nodes to operate the blockchain um so in preparation for Shanghai which will unlock staked ether well maybe not I’m going to get to that in just a minute the protocol will be undergoing a Series of test Forks that copy the data from the main Network to a testing environment a shadow Fork is a smaller test Network that focuses on some changes that need to happen before Shanghai eventually upgrades to the main protocol during the latest Shadow Fork developers focused on creating a testing Environment for for staked eth withdrawals as well as improvements that reduce gas cost now even if they do unlock the ethereum in the deposit contract right the staked eat that’s going to create other issues like are we going to have selling pressure are people going to be selling their Ether are we going to see a lot of people unstaking what is going to happen people have had their ether staked and locked in the staking mechanism for over two years at this point most people most of those stakers so what is going to happen to the price of ether like this Is one of the reasons right now I basically hold zero ether because I don’t know what is going to happen and I don’t want to speculate in a bear Market that this well the merge everyone was speculating on did nothing to the price except go down and now we’re waiting for The Shanghai upgrade and people are like they’re unlocking ethereum and people what are they going to do with that unlocked ethereum well they’re probably going to sell it what’s that going to do to the price probably put pressure on the price well trouble in ethereum developers are divided over Staking withdrawals in the Shanghai upgrade and as you guys know a lot of the development is being funded by JP Morgan so I believe ethereum is is actually funded and run by JPMorgan if you didn’t see that video it was called warning it was on January 2nd I think of 2023 the video is called warning to cardano and ethereum investors in 2023 I would definitely recommend watching that video following the success of the merge in September all eyes are on the back of the network As It prepares to roll out the next big update Shanghai upgrade And users have been eagerly awaiting a way to get back their 25 billion dollars worth of ether that they’ve pledged the network through the staking mechanism there’s one problem ethereum’s core developers are responsible who are responsible for making the changes to the network are butting heads about how And when the upgrade should be implemented well um you know I personally don’t think that it’s going to happen or at least to the degree that people are expecting by all accounts Shanghai up here is ready to launch by March which is just a little over 30 days away but Recently a vocal minority of ethereum core developers have begun voicing concerns that the upgrade that’s being rolled out is too quickly and out of fear a public reprisal at the expense of technical costs that could have lasting impacts on the network a One Core developer cautioned on all core Developers call saying it feels like we’re not thinking about the long-term health of ethereum we’re thinking how do we do what the public wants today they and a few of the Network’s other 30 odd core developers are worried that a recent decision to forego a technical adjustment to Shanghai will expose Ethereum to an unnecessary technical debt with unknown implications for years and decades ahead The Tweak would have taken an extra two to four weeks to implement by these developers estimates an amount of time the rest of ethereum core developers were not willing to keep the public waiting so technical debt refers to Future Worker headaches created when software developers prioritize speed of a product’s release over perfect code in this case ethereum developers decided not to make eat withdrawals compatible with serialize or a flexible modern encoding method described by developers as the future of ethereum encoding instead of using ssz ethereum is sticking with recursive length prefix Serialization or rlp an existing encoding method that may eventually be phased out and retired while the difference here is highly Technical and seemingly semantic it could create unending headache for ethereum developers down the road a large contingent of ethereum core developers have signaled their willingness to switch eth withdrawals over to the new Encoding method in the upgrade following Shanghai which is being called Cancun as in Mexico I guess but such a fix would still mean that any withdrawal activity initiated between the Shanghai upgrade and the Cancun upgrade would be been encoded with the old method and thanks to the immutable ethereum Ledger That activity could keep on living on the ethereum blockchain forever so developers will have to eventually translate all that encoding from the old method to the new which is a laborious Endeavor beyond that though the mismatch creating by old encoding or early withdrawals with the old rlp method and The rest with the new could have further reaching repercussions another core developer said there could be unknown unknowns around what this mismatch means with withdrawals design problems vulnerabilities we just don’t know so yeah there you have it guys I mean I don’t know whether they’re actually going to get this done whether they’re Going to actually allow ethereum withdrawals I I do think that they’re they’re rushing this right but I also am curious why this is like why they wait till like the literally the last minute they’ve known about Shanghai since September they should have had the testing environment in October Not a month before they’re ready to release and ethereum keeps doing this over and over this is why I think that like it’s by Design I don’t think that this is like a mistake I think this is by Design um because it causes confusion it allows Them to kind of test the you know what the market sentiment is watch where the prices are going because if we’re at low prices it’s highly unlikely that they’re going to see major withdrawals right but if you see higher pricing if we keep pumping into March And you see you know 2500 3 000 that’s basically where we were before the merge when everyone thought they were going to be able to withdraw anyway so there may not be uh if we stay at lower prices there may not be a lot of withdrawals so it may Not be a big issue to begin with but I I do think that they’re they’re s they’re worried without saying that they’re worried about the fact that this is going to create big issues from a price standpoint from um a network security standpoint we don’t know how many people actually Want to withdraw their ether right maybe there should be a cue to withdraw your ether you have to wait three weeks to withdraw you have to put a request into the network to withdraw your ether and then put in a queue for three weeks um then you cancel that that cue at any Point but at least that gives kind of the the market and the network the ability to understand what is coming from a withdrawal standpoint I don’t know what the answer is obviously I always tell you guys I’m not a developer I’m not a tech guy I am here on the Investment side of things and this is what we analyze and what we talk about on this channel investment perspective on all of this so I’d love to hear your thoughts Down Below in the the comments of this video and uh next up don’t forget to give this video a free thumbs Up cardano Network quickly recovers after a brief node outage now a short-lived outage that affected over 50 percent of the network was automatically solved within minutes on Sunday this was the first major outage on the Cardinal blockchain first major network uh you know incident on card Donald since Cardano launched the cardano network has had a brief outage this past weekend that was automatically fixed within minutes with no singular root cause determined as of writing time of this article several developers reported the error on GitHub but said the nodes were restarted automatically block producing nodes were temporarily affected According to some messages nodes are network stakeholders that maintain and process transactions on the network Rick McCracken said there’s been a brief period of degradation most nodes impacted had gracely recovered no network restart was required although individual nodes restarts were required blockchain nodes previously got offline On networks such as Solana with one such instance causing the entire network to be disrupted for over seven hours in May of this past year in a separate instance 2021 so a lot of validators had to restart the network to troubleshoot and network stoppage uh Tom Stokes eutx Pro On Twitter said a few hours ago over half of all cardano nodes went offline this is why decentralization matters reasons for the node failure can range from an overload of transactional activity to a faulty code however a quick fix May indicate strong fundamentals for the affected Network the cardano community is cheering a Quick Revival calling it evidence of cardano being a better blockchain than Solana which took several hours to restore the network when it faced multiple outages last year in 2022 Chief Tech officer at Sunday swap said the real takeaway is how impressively resilient the cardano network is something took down over 60 percent of The nodes and the network recovered in a few minutes and continued producing blocks throughout now here’s the deal guys what I said last year and the year before when Solana went down over and over and over again is that the the price of Solana didn’t move at all and I Predicted that if any other network including cardano had any outage that there would be a price cratering and that’s actually not what we’re seeing I think that in the markets are at the point where they’re they understand these are you know still developing and moving networks we haven’t seen large Price uh changes since that outage um it didn’t really cause any major downtime for the cardano network but they still don’t fully understand from my understanding they don’t fully know why the network went down whether it was a faulty transaction or something like that but they need to figure it out So that it doesn’t happen again and I’m pretty sure that they will see it I think what they’ve been doing this week is a lot of PR and kind of uh you know managing the The Narrative about what actually happened because obviously you know people would have jumped on and say Oh cardano went down cardano went down it did go offline for just a few minutes and went right back on and that was just mostly 60 of the nodes there was still 40 that didn’t have to reset that didn’t have that issue so you know the cardano network is still Resilient it’s been and it’s had basically 100 up time since it’s went live in 2017 which is about five years ago at this point so there is still a lot of great things obviously you guys know I still have my uh my skepticism about you know some of the development Flaws and development you know uh timeline that cardano is on right now but I’m the same way about ethereum right we are in a bear Market this is an opportunity to see which which crypto projects are developing to a degree that you believe will drive them ahead of the Other projects right and listen at this point I don’t even care whether cardano or Solana or polygon make it to the top three to me it doesn’t matter because we are at a point where top 10 top 20 cryptos are going to be here for a long Time they are going to get a lot of you know Focus from investors from developers and a lot of developers are developing on multiple chains now they’re not just developing their their projects on one chain that we see a lot of cross cross chain compatibility we just talked about usdc cross chain Compatibility transfer protocol yesterday on to on this show so really it doesn’t matter about you know oh this one’s going to flip this one this one’s going to flip this one it doesn’t matter at this point it really what matters is the focus on these top 15 top 20 maybe even top 30 projects because these projects are going to have development and Integrations and we’re going to see companies like Google Amazon web service they’re going to be choosing crypto projects and blockchains outside of the top 10 outside of the top three we just heard about Amazon web Service choosing Avalanche Google chose one of these other blockchains I don’t remember what it was there’s so much going on so the development is the main criteria that I’m looking at during this bull market sorry bear Market to see what to prepare for for the bull market what teams are developing how fast They’re going how fast they’re testing how many developers are within these ecosystems and so on and so forth and I do think that Cardone is going to be there I’m just a little bit concerned at this point and uh you know I may offload my cardano uh for the for the For the rally that we’re having maybe not I don’t know I haven’t made the decision as of the time I’m making this video but I want to hear what you guys think about everything that we’ve talked about in today’s video all the development all the growth all the moves All the repositioning in portfolios in you know uh development ideas and development timelines and what we are talking about here with real Integrations of Bitcoin at a very high level into nation states around the world guys a lot is happening Lots going on don’t forget to give this video an Absolutely free Thumbs Up Hit subscribe if you’re not already a subscriber I upload every single day of the year to bring you the latest happening in the financial world I also upload four short videos right here on YouTube every day go check those out and give those a Thumbs up as well other than that I’ll see you guys tomorrow right here on the cryptovisor podcast invest responsibly do your own research and crypto on MACRO MARKET ANALYSIS VIDEOS EVERYDAY SINCE 2018.I don’t sell anything.I don’t have any programs for you to join.I will not message you on any platform.I’m not shilling anything.I post videos with my analysis of the global crypto and finance markets.Not financial 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