Hello, friends, and thanks for hanging out with us today on the market report. I am your host, Benton, and we are joined again by our resident experts, Jordan Finneseth, Marcel Peckman, Sam Borgie, and we have a special guest today, the head of markets of Cointelegraph, Ray. Jordan uses background psychology and human behavior to spot emerging trends and crypto. Sam Borgie is a business editor at Cointelegraph, where he brings a decade of experience in economic analysis and financial market writing. Marcel Peckman applies his 17 years of experience trading derivatives, options, and futures to the crypto derivatives trading markets. Fellows, it's been a bloodbath, but we're still here. We're alive. What is going on this week? How are we feeling temperature wise? Are we hot, cold? What's going on, Marcel? How are you to this week? Well, Benton, I think every time that's on our channel, of course, start spreading some questions about if the markets is going to survive, how to handle the crisis and the crash. It's time for you guys to be more courageous and buy more. I'm not saying go all in. I'm not saying use leverage, but it's time to build a bigger position in cryptocurrencies because everybody have uncertainties. The price went down 50% from the top or 60% in some cases. So it's time to get ballsy and do some purchases. You're hearing such a bearish opinions in the market. This is like I haven't bought since before the beginning of the year, but I'm starting to feel like, man, this might be a good time to get in the market because everybody's so bearish. I don't know. My contrarian's starting to pee. Yeah, with the capitulation of the on-chain metrics, guys, they were the last ones pushing the bullish narrative. They've turned bearish now. So you know that we're either we've bought them or we're about to bottom. I mean, look, it's a scary time for everyone, but crypto as an asset class is here to stay. Bitcoin is here to stay. So if you feel comfortable allocating money, you know, you're not going to get a better shot than at Bitcoin sub 30. So I think overall the future is bright, but short-term volatility could make you a little bit uneasy. But again, take that long-term view. Those are strong bullish statements. I feel good. You know, I'm a little bit disappointed that this bull market was so short. I'm very disappointed in decentralized finance. And I don't think that it's lived up to the dream, but I still see a lot of potential in the actual, you know, concept of DeFi, self-banking, being able to collateralize crypto assets, you know, to self-fund your own sort of ventures. Bitcoin price-wise, if you look at a one-year chart, it's still trading within that same $30,000 range that it's been passing in between 64,000 and 29,000 since like January 2021. It's been an entire year in that range. I'm not comfortable that we're in that lower half. I'm happy that 30K seems to be holding us support. But I think the difference this time around when looking at previous support retest, if you consider 30K or 29K at support level, is that the Fed has turned off the printer, right? Things are different now. So the stock market is no longer pumping. The Fed is clearly resolute on their plan to continue raising interest rates. They don't want runaway inflation, and Powell has said multiple times, I would rather there be short-term paying and a weakening economy than deal with runaway inflation. And to our disappointment, Bitcoin is correlated to these larger markets, to the S&P 500, to the Dow, so on and so forth. So the printer's been turned off, and we're in new territory now.  So, yes, prices are low. It's a good time to consider buying, but everyone that's telling you to buy, your influencers and your institutional investors and such, they have the spare money. They're deeply liquid, and they're able to take that long-term sort of investment and deal with the short-term volatility. But your average retail investor's not able to do that. So just because we're dipping, doesn't mean that you should be buying. You've got to be a little bit more strategic with how you deploy capital and considering the macro factors and headwinds at play. It might be good to sit on your hands and wait for a bottoming formation and to see volume start to kick up again and to look to see the beginning of a trend change, or at least a prolonged period of consolidation, because consolidation means accumulation, but a downtrend doesn't necessarily mean accumulation. Even when you look at on-chain metrics. So I like where we're at because I'm a seasoned investor and I'm used to the volatility, but I am also cognizant that there could be much more downside that's unexpected. Laughing also, because I know I'm breathing up all the air, when everyone says that one level of support or resistance is where they plan to buy or where they expect price to stay, sometimes price dips far, far, far below that. Like if you think about how order books are built and how markets are made, of course, if the bias is to buy at 30K or some 30K, there's someone on the other side of that trade who's got a strategy for counteracting that. So I wouldn't be surprised if we dipped 20,000 or below, even if it was a quick whip down. Yes. And so we're going to be getting into a lot of stuff today, the Terra Luna aftermath. We're going to gather everyone's thoughts about what's next. Is it still survivable? What do you think Marcel's going to give us? His expert takes of where Bitcoin could go, Ethereum as well, keeping those on your radar. And today, we're going to be giving away a $50 voucher to the CT swag shop. So make sure you drop a comment in the chat today on YouTube here and give us your Twitter handle, because at the end of the show, we're going to give away $50 gift voucher for that CT store. And you don't want to miss out on the swag. I see what you know, you can see some of us wearing them today. I think Jordan's got his Ethereum shirt on. And for those tuning in around the globe, I see Sam's got a CT shirt on. It's a rep in the swag. Love to see that. But thank you all for tuning in from around the globe. And don't forget to subscribe to our channel here on YouTube. We have the mark report on Tuesdays at 12 p.m. Eastern. First things first, I do want to get to some of the biggest headlines in the crypto Twitter sphere. So we're going to get into our weekly roundup video. Danilo, let's run it back and show the folks what's been happening on Twitter and crypto. But we are here for it. So this week, we're going to dive into what's next for Luna first. I want to get everyone's insights. And I'm actually going to pull up. Danilo, if you wouldn't mind pulling up the TerraMoney Dow posting board here. This is where Ducon presents what he wants to do next. And I'm kind of curious to hear what each one of your thoughts are about TerraLuna right now. If you haven't seen our previous episode where we dive into what happened, get caught up. It's our last episode on the YouTube channel. So you know what's happening with the TerraLuna ecosystem. If you were sleeping under a rock, huge crash. Bank run. Guys, what do we think? Thank you, Danilo. This is kind of just for folks reading, but you can take it down. I'm curious to know is Terra dead or do they have a chance at reviving by doing this fork that Ducon has talked about? Jordan, I want to hear from you first. Like I was mentioning before, whenever I get a bunch of people start texting me, like should I get into cryptos? Like that's usually a sign for me now. Like I'm surprised at how many people that I haven't heard from in so long actually texting me or called me in the last week, asked me, should I buy TerraLuna now?  Like no, the original Terra ain't coming back in my opinion. Are they going to be able to revamp it? I don't know. Again, I mentioned in the last show, it's really hard to come back from breaking trust, especially in crypto. And they really destroyed a whole lot of trust with this whole scenario. How many BTC did they burn through? You see, you're hearing all these stories of people trying to stop this peg from falling and it still fell. I don't think that they really bounced back from that. Then maybe if they completely rebranded and just like started this new project over here and kind of like tried to switch it. No, man, I don't see it coming back. Sam, what are your thoughts here? Is there any chance for Terra to make it come back even with this proposal by forking the old ecosystem and taking these snapshots it talked about? Well, in conjunction with what Jordan just said, those of you thinking about buying Luna, just know that the market supply or the number of tokens in circulation has skyrocketed. So don't expect price to go back to where it was. You got to take a look at the market cap. You got to take a look at how many coins are in circulating supply. Now, in terms of the tarot ecosystem in general, I mean it's a really massive ecosystem and the Luna ticks as they're called are a pretty sizable community. Can that community be saved? It's possible. I think that it's going to require a lot of work. I think you're going to have to go away from the algorithmic stablecoin. I don't know how USD comes back, which means that the overall view of what Terra Luna actually is might have to change. I mean we saw a death spiral with the algorithmic stablecoin. It's just another proof that it doesn't work. So I think Doquan's proposals have been fairly controversial. I believe a lot of the community members voted against it or are against it. But I think at some point, if you're looking at the community itself, there's a lot of options there for that community to come across, to come out the other side. But what that's going to look like, I don't know. All I know is that USD or a stablecoin, like the previous iteration, is most definitely not going to work. And let us know your thoughts while you're watching today. Is Terra Luna dead or alive? Let us know in the chat. I want to hear from Ray next. What are your thoughts here? Danila, real quick, while Ray's talking, I'm going to pull up this tweet from whale guru that shows you 90% of participants in the preliminary vote are against Doquan's proposal to fork the Luna ecosystem. But Ray, curious to hear your thoughts here on the whole next steps for what could happen next with Terra Luna. Thank you, Danila. I'm with Jordan. I'm pretty much with Jordan and I'm with Sam. I mean, we've been in this space a while and once wrecked, always wrecked. Once trust is broken, it's gone. It's really hard to restore that trust. And there's a lot of competition within this market. Right now, I don't know about institutional inflows and institutional investors, but your average retail investor is looking at a portfolio that's not as profitable as it was two, three, four months ago, right? Or even two weeks ago. So what can Luna do to entice or what can the Terra ecosystem do to entice liquidity after relaunching? I'm not sure because there's a lot of competition. There's a lot of other options within decentralized or even decentralized, centralized finance like Celsius and Nexo, so on Anchor. Well, Anchor is out now, but I mean, there's other places where you can go to earn a yield on your tokens. So yesterday, I thought that the hard fork proposal was popular and that it had had some uptake. So I'm guessing within the last 12 or 24 hours, the tide has turned against that because a strategy I had heard was if the project hard forks and there's going to be the current Luna, which is dead, will be called Luna Classic and then a new Luna token will be issued to those who took on losses, those that are state within the ecosystem. Then the play would be to accumulate Luna Classic, which is now the defunct Luna with the hopes of then increasing your quote-unquote airdrop that you might receive post-hard fork. But if that's not happening, then I honestly don't know how they come back. I do think it's good that Delquan is sticking around and being very vocal and attempting to find a kind of like pragmatic possible positive way forward. Because when a lot of these projects have a calamity or a cataclysm such as this one, the development team vanishes, or they absolve themselves of all responsibility or they remind the community that this thing was purely experimental and that you should do your own research and try to mitigate your risk.  I know that a lot of people are pleased with him, myself included. So if you think about link marines, there's no link marines left. When's the last time you heard anything about chain link and the link marines? When I think about it, right? Right? But there's so much utility. We can have our money in Danielli. Yeah, there's a lot of utility, but utility, reality, demand, and application, they're all, that's the crypto crux. You know, what is real world? I mean, but is that a sign of just like how early we are in the space? Like, is the innovations catching up with like the adoption? Well, there's a lot of room for growth, I think. And, you know, Tara attempted to do something experimental within DeFi, which is an algorithmic stablecoin, which is not a new concept in this world. When you think about dollar peg assets and other sovereign currencies that are pegged to the dollar, there's the Hong Kong dollar, there's the Arab Emirati dear hum. There's like 10 different currencies that are pegged to the dollar. But the reason for that is to like equalize trade and to make exports lucrative for those countries, whereas what is Tara export? What was the need for them to, why would they need an algorithmic stablecoin? Why would you back a stablecoin with ultra high volatility assets? Why not just back your algorithmic stablecoin with other dollar peg assets? Like Frax, Mem, USDT, USDC, you know, create an algo stablecoin that's linked to other stablecoins. Why would you do that with Avax and with BCC? That's crazy. So, what I'm trying to say is I want to let Marcel, there's a lot of them, right? There's a lot of lunatics, and Luna is a huge ecosystem. And I've learned to never say never. It's possible that this thing can come back from the dead. Ethereum got attacked in the beginning, and they hard forked and look at Ethereum now. It's doing fantastic. Whereas Ethereum classic is a dead chain. So, anything's possible in this space, but I myself am not deeply optimistic and in any sort of revival with Luna. I want to hear Marcel's thoughts. Marcel, dead or alive, what's going on here, Tara Luna? I think that the current state of Luna is more for dead, but I believe that a fork will emerge and something not at the same proportion, but something can come out of this because where there's a community, there's value.  If you have lots of users, it's the same happening to XRP. Even if Ripple, the company, if this is dissolved, so they're no longer able to manage the XRP token, their community is so big that they embrace it and continue trading and continuing doing business and creating out of XRP.  That's pretty clear for me. But what I think Ray is trying to say is that what is the need for the Stablecoin? We don't need one, especially algorithmic. It's too risky for what benefit. I don't see value on that. The whole ecosystem was centered around USD. Sorry, go ahead, Ray. Luna will come back possibly or Terra will bounce back from this, but will it come back to profitability? They had market share of DeFi. They were the second largest project. There's a $40 to $60 billion ecosystem. All of that is gone. So perhaps TerraSwap can come back. Perhaps AstroPort can come back. Perhaps the wormhole will still have cross-chain flow into the ecosystem. Maybe they will go USDT and USDC native, right? And it's just a wrapped version with that exists within that ecosystem. But I don't see Luna coming back to $100 per token or $50 per token. Of course, anything is possible, but I don't know. It doesn't seem like it. To have your entire ecosystem based around the USD Stablecoin now looking back is extremely risky. When has there ever been a successful algorithmic Stablecoin? Other than near protocol and what they're doing, we've seen a lot of different failures. Jordan, let you chime in here next. This is also a really good learning opportunity. I'm surprised that hearing people had their whole portfolio in USD or Luna. That is horrible operational security as far as crypto goes. 15% max on any... I know Bitcoin maxes might feel different about that, but I'm like 15% max, especially on an altcoin type project, if you're really exposed to risk. Otherwise, people need to pull that back. I don't necessarily feel sorry for anybody that had all of their stable money in USD. I'm like, that's just foolish. So I got a little cold-hearted, but this is a learning experience and crypto is just highly volatile. So many people. You need to spread your friends out, people, and don't get overexposed to any one project, please. Right. Speaking of the Bitcoin... Can I interject a little bit? Go ahead. Or go ahead, Sam. I just wanted to say, speaking of the Bitcoin maxes, I mean, that was for me, there were some really nice headlines with, you know, Doquan backing his protocol with Bitcoin. Even a lot of the Bitcoin maximalists started to respect that. But that for me was the big red flag, not to enter the anchor ecosystem, because I was really considerate, you know, full disclosure. But when I saw the fact that they were backing their asset with an asset of a completely different risk profile, that's when I started looking into it a lot more. And I'm like, something year does not jive. And I'm staying the hell away from this thing. That's a good call. Ray, last thought here, and then we're going to shift into Marcel's expert segment about Bitcoin and Ethereum. Tell us what's next, Ray. So about the people that lost their entire portfolios and had all their money and one ecosystem, here's the thing with Terra and with all of these stablecoin or all of these DeFi interests, you know, DeFi platforms where you can put your stablecoins there and earn interest on them, is that DeFi is volatile, crypto is volatile, all the DeFi tokens are volatile. So looking at like abracadabra money or looking at anchor or looking at some of the other protocols in Terra, it makes sense. During volatility, what do people do? They hop into stablecoins, right? They want to protect their paper profits. They want to protect their portfolio size. It makes sense to go into stablecoins because they're always safe and they never lose peg. And you're going to earn 20% APY on that deposit, right? So I think for a lot of people, the conventional kind of practice, the conventional knowledge and the fact that it seemed pragmatic and well thought out that when the market shifts its pants, we will just go into USDT, USDC. That's what many of us have been doing for like the last three, four or five years. So USD made sense in that way and it seemed to be well guided. So I think a lot of people just got too comfortable in a strategy that had worked for them for a long time. And no one expected the thing to unravel the way it did. And the collateral damage that it caused, you know, Sam and Marcel and Jordan were talking about the contagion effect. Like hopefully this could be the bottom of the market, but we're going to see if this is kind of a capitulation phase before we go lower or if this is just going to go sideways for the next year to two years. I want to get into Marcel's segment next because this kind of is a good segue for us considering the fallout with the Bitcoin and the treasury of Terrell Luna. I want to know what's next for Bitcoin, what's next for Ethereum. I think Marcel is going to tell us what we need to know. Before we jump into his segment, I do want to chime into the chat here. Thank you everybody for asking your questions. If you have a question from Marcel and you want to answer and make sure you're dropping it in the chat, don't forget we're giving away a $50 voucher at the end of today's show. Drop your Twitter handle in the chat. That voucher could get you $50 to the CT swag shop. So Danilo, let's go ahead and run it back into Marcel's expert segment this week. Okay, Benton. So without seeing this over and over, so every time the market drops 20, 25% in a week, the fear and greed metric plunges. It's currently at 8%. So one thing you should notice is that such data is always backward looking. So how is the fear and greed metric composed? It relies on volatility, volume traded, social media, Google search, and Bitcoin dominance. So what are the forward-looking metrics? Well, first of all, derivatives markets. So instead of checking past data, the futures premium, also known as the basis rate, analyses what professional traders are paying for contracts that will expire in two or three months. So Danilo, can we share a screen, please? So let's start by the current 3.5% basis rate. What does that mean? It means that the Bitcoin futures contracts expire in September, is trading some $300 above the prices at Coinbase and Bitstamp. So you can ask, so is 3.5 a good, a positive indicator or not? Well, usually, numbers below 5% are considered bearish, signalling a lack of demand from leverage buyers. But you're going to step back for a minute. Bitcoin is down 25% in three weeks. And yet, there's a premium. There's a positive premium for contracts expiring in three months. So it means that the sellers are not confident enough to place bearish bets at $30,000. So thank you, Danilo, for sharing. So another thing that I like to look, which tends to be a forward-looking data, is on-chain metrics. And the most used on-chain metric is exchange reserves. So the number of Bitcoins and Ethereums deposited on exchanges. So mainly, what people say is that the lesser Bitcoins deposited, so when those clients withdraw funds, they're sending coins to cold wallets. So diamond hands are buying, which means this is bullish, this is positive. So, but is that really what's happening here? So Danilo, I want to share my screen again, please. So here you have crypto-quant data. So the blue line is the number of exchanges Bitcoin deposited on exchanges. And you can see that it has been declined. It's currently at 2.47 million Bitcoins. And if we go back in time, it was above 2.55 million Bitcoins deposited on a change. So in the past week alone, the number went down by 53,000 Bitcoins. Thank you for sharing, Danilo. So what you're saying, what the data is saying, is that clients withdraw money from exchanges. So theoretically, it's a good thing. But let's assume that the data is correct. Let's assume that those coins are moving to diamond hands. So yeah, large clients are buying Bitcoins. But what happened to the retail investors? Everybody who lost money on Bitcoin and outcoins and sold those coins on exchanges to these large holders. So most likely they got liquidated, they got wrecked or they said, okay, I'm down 50%. I don't want to know anything about more, any more about cryptocurrencies. I'm going out of that. So even if the data is positive, even if it means there's less liquidity for buyers right now on exchanges, it also means that the retail traders got wrecked. They lost money. So in my view, even though the number of Bitcoin deposit exchange reduced to the lowest level in three years, I don't see that as a positive. I think we're heading to another three or six months of sideways market or maybe a price cap of $40,000 for Bitcoin because retail traders are needed for the rally. There's not going to be a rally to $50,000 or $60,000 if all the retail traders lost money. So my reading of the onshade data is not so good. It's kind of bearish. And despite the slow or low 3.5% futures premium, there's no demand for leveraged buyers here. Very interesting. And so do you feel like if the Fed continues to raise interest rates, that will also have an impact on the retail market segment as well? Well, I think for me, the Fed has no option. So either if inflation continues to run up, to build up, which is horrible for the economy, which is horrible for families, or it continues to raise interest rates that quantitative easing and start some tightening. So instead of buying bonds, or buying mortgage security bonds, it's going to have to sell some treasury, some bonds. So definitely not a good time to be in risky assets. But what is the other option? What can investor do? He can go to excessive premiums as well. Bitcoin is not the option. It is a scarce asset. I think some money will flow, maybe 1%, maybe 2% of that money will eventually flow. So maybe next 2022, we're going to see some inflow from the institutional investors to Bitcoin. But right now, the tightening movement from the Federal Reserve is negative for market. Jordan and Sam, any questions from our cell here? We've gotten a little conspiratorial about it before. Did the government have anything to do with the UST, debacle, and stuff like that? Well, BlackRock could probably buy the whole cryptocurrency market on its own.  Even though I've had people like, should I buy it now? I don't see people coming along like, I want to dump a million dollars in this market. So we could just stay sideways. But maybe it was a good opportunity for the people, like the big institutions that are accumulating in the background as retail is scared of it. It allows the opportunity for institutional maybe to accumulate over the six months period, like you're saying, as we trade sideways while retail is sales side, then they'll start pumping in. Retail is like, oh, FOMO, I don't know. So Shalom seems to think that it's the solar cycle. And Sam, jump in next. Wrong answer. Let Sam jump in next. Wrong again. Trimes and BTC ETH stick with the fundamentals. So your boy Marcel is talking about those fundamentals. But Sam, go ahead and jump in. Yeah, I just want to follow up with what Jordan said. I just saw some data, I believe, from CoinShares that said, in the last week, we saw $274 million flow into Bitcoin ETF products or Bitcoin institutional fund products over the past week. So it seems like the institutional investors are buying the dip. Now, I don't know if we're at the complete bottom or you can call it a dip yet. But it seems like we all know the adage when the market is fearful, it's time to be greedy. After the massive sell-off that we saw, it looks like some of the big money investors are accumulating. But again, with the Federal Reserve tightening the way it is, I don't really see any positive catalysts from the retail perspective over the next three to six months. The Fed is going to probably introduce another 50 basis point rate hike on the next meeting. They'll probably do it again. I think September is going to be the big meeting because it's going to give inflation, perhaps another three or four months to cool down a little bit. And by that time, we'll see if the stock market has been pummeled even more. At that point, you could start to see a shift in the Fed's messaging. Maybe September, because typically September and October are very volatile periods for stocks and then by extension crypto as well. So if we come in after Labor Day and the markets are tanking again after all that we've seen over the past six months, seven months, that's when you can start to see perhaps the narrative shift from the Fed, but not before then in my opinion. We are in a very peculiar position in what seems like it could be with the inflation rising interest rates. A lot of stuff happening at the macro level. Marcel, what are you doing from a trading perspective right now? How are you approaching or assessing things? Are you still sticking to your dollar cost average baseline? What are you kind of doing in this kind of scenario? Well, any spare money that I have by the end of the month, I buy a BDC. But from the futures trading perspective, I do think that anything below $30,000 is a bargain. Yes, we could see eventually if there's a crash on traditional markets, Bitcoin may be moving to $17,000, $18,000. Yeah, it can happen. It's a small odd or small chance that it's going to happen, but there could be a low for that. But for those that envision a six-month, 18-month timeframe, buying at $30,000 seemed like a bargain. And if you do like Ethereum at $2,000, it also seems like a bargain for me as well. So I do think that if you have some spare money and you are still waiting for an opportunity to buy cryptocurrency, it is right now. Don't miss it. That's a great point. And I mean, even if you look back to the flash crash of March 2020, a lot of people thought the sky was falling. But look what happened six, 12 months later. We had one of the bigger bull runs that we've seen. The other thing that I want to touch on here is when it comes to where we're at currently and the psychological phase of what was the market cycle. I feel like we've learned a lot. We were just talking about this on the pre-show. It's like we've been through all of the psychological phases right now, having euphoria, doubt in the grieving process. I think we're now at kind of the tail end of what could potentially be this market cycle. So when will the next one start up? We will see. Time will tell. But as always, dollar cost average in to the to the bitcoins and the theorems and you can't go wrong. Well, one thing I want to emphasize here is that these are the personal opinions of each panelist today. This is not financial advice as always. And these are not any way, shape, or form response or content from Cointelegraph. So thank you, Marcel, for sharing your insights for today. Don't forget. Go ahead, Marcel. Last thought. Wrong again, said on chat. Marcel is always bearish. That's not true. I've been bearish for the past couple of months. I assume that I will say that. Even sold a little bit of my position when Bitcoin was at $47,000, but really small part, the tiny part. But I've been bearish for the past couple of months. But I do think that, as Sam said, by the end of the year, September, October, November, we're going to see after the Fed has raised up the interest rates, people will start thinking, well, what can I do with my money? I have some money left because I thought that the markets were going to crash and it did not happen. And I think that, yes, some of that money, maybe 1%, 2%, 5%, will be allocated into Bitcoin. And then we're going to see a rally. $100k, here we come. We are well on our way. I see the chat is getting quite geopolitical right now. Let's keep this crypto. Let's keep it fun out there today. All right. We appreciate everyone that's been tuning in. But if you haven't like, subscribe, go ahead and do so now. $50 end of the show for the CT swag shop. Drop your Twitter handle in the chat for your chance to win. Next things next, how are we going to survive this bear market? We heard Marcel about what he's doing for his plan of action. But now I want to get into what are y'all doing? Actually, we have the market news segment next. That's my bad. Market news. Which one do you guys want to talk about? We got Congress. We got Bukele holding 44 world leaders in El Salvador. Does that seem like a good one? We're going to talk about that one today. What do you think about this? Bukele, president of El Salvador, is hosting 40 different other leaders from around the globe. Is this big news? What does this mean for the adoption of Bitcoin? Sam, I'll let you jump in here first. Well, I'd have to look at how many of these countries I've actually heard of before. That's the first question I want to ask. They're not exactly big geopolitical players. I think it's positive. I think you're going to start to see more countries adopt the Bitcoin standard in some capacity. Even if we get a few more, that's always positive news. I think we were a bit underwhelmed with the Bitcoin Miami news, though, when it comes to adoption. That didn't really live up to the hype, in my opinion. But I think the fact that you have dozens of countries coalescing in the Bitcoin capital of the world, so to speak, to discuss potentially integrating the new asset class, I think is very positive. We'll see what comes out of it in the next few years. I'll let Jordan chime in next. But Danilo, if you wouldn't mind just pull it on my screen real quick. I do want to show all the countries, and it was talking about the article, central bankers from certain countries. So this here, orange countries, a lot of countries in Africa, South America, that tells me that these countries are looking to obviously adopt this technology and integrate it in what better places where they need it the most. And I think this is really cool to see that countries from around the globe are starting to really pick up on this. I'd love to see some more European countries in Asia and North America jump on board, but in due time, I guess. Go ahead, Jordan. Yeah, back I remember, especially in 2017, you kept hearing this theme of like, it's a transference of wealth, transference of wealth. But I kind of got this different, my own unique perspective on it, and how like, so now, especially with these countries starting to rise up, my theory was that they're going to really promote Bitcoin, especially to poorer countries, so that they can accumulate it at a lower price, then they'll pump it out to like the wealthier countries, thus transferring some of their wealth to those poorer countries who already accumulated it on the low. And this just kind of fits more in line with that. Like, if they can get countries like, I know people who keep actively ragging on the fact that it's less wealthy countries that keep wanting to adopt Bitcoin, and like, that's a good shine, but I'm like, that just winds up what I'm thinking. Like, how can we actually distribute the wealth of the planet to all the countries more evenly if they can start getting in on Bitcoin early, and then all the other wealthy countries pump the price up after they're already in, that works out by inflating their treasuries. So in my, like, from that perspective and that theory of mine, that's kind of aligned with it. It's a way for poorer countries to kind of get in the head of bigger countries and increase their wealth just because they buy something like a Bitcoin before the rest of the world gets on it. So that's just kind of lines up with that. I do think over the long term, maybe Bitcoin will become the kind of global settlement currency if all these countries start adopting it. Maybe we're on that path. I don't know. It's curious to see. I'm still hoping for maybe one more blow-off top this year because everybody's talking about wearing the dumps for the next, like, five years. I'm like, yeah, blow-off top. Come on, we still got a blow-off top. But Jordan, even if, I don't know, El Salvador buys Bitcoin and it goes from $30,000 to $200,000. Why would the country or how would the country distribute this money? The government would probably use that, I don't know, for its own good or whatever the government thinks is right. I think what should be done, what would be interesting, is if the population starts to accumulate. So even if it's 10,000 satoshis, even if it's small quantity, but if the population starts to accumulate and what we've seen over the last research or pools that have been done in El Salvador is that the minority of the population is accumulating. Yes, like 20% of them are using the coins every day, but they're not accumulating. Yeah, my original thought was that it was the people needed to be the ones accumulating it, but just in my, like, watching the crypto news, mainstream news and how they've attacked crypto over the last five years, I can understand why no retail people are buying it. They've effectively kept people, they've convinced people to stay out of the market. So it's the only way to kind of move this along. Again, 70% of people won't do anything that the authority of their land tells them to do. So when we start seeing governments actually adopt it, the people will be like, oh, it's safe now. That's just the way human psychology works. It's sad. Like, I really wish it was the people accumulating it because then the people would be getting the wealth. But as a mass, we're not that intelligent.  And that's just the way it's gone. So it's going to take the bosses, the people that we've placed on a pedestal telling us that you can buy this now from the majority of people to buy it, which is sad, but yeah.  It's like all the big governing bodies tell us what to do. Most people don't want to think and wake up. There's an epiphany. There's a revolution happening, folks. It's called Bitcoin. Wake up. It's coming. Any other thoughts here on what could come out of this central banking meetup? Is the big deal or not a big deal in the grand scheme of things, Marcel? Well, I'm not shorting. In the grand scheme of things, what Sam said about the Federal Reserve is more important. Once there's no more extra liquidity going in the markets, we're going to see the real price of assets. So is a house in Canada a small house, a cabin really worth a million dollars? I don't know. I think there's going to be a repricing. So I think we should focus on a bigger picture here. And when the tides are down, we're going to see who is naked or not. I think that's the message we should be interpreting. I'm just waiting for that petrodollar to be replaced by Bitcoin one day. So we'll see. All right, folks. Moving on here, the chat is electric today. A lot of people are talking about CBDCs. We'll get into that maybe during our next segment on how to survive the bear market. So let's go ahead and do this thing. I just want one quick tip. What are you doing to survive this bear market? Jordan, kick us off. Realizing that there's more life than just crypto. I still have a job because I didn't think that I was going to be able to financially free myself on this market. Going out a few years, I will start $1 cost averaging when I feel like it's ready.  It's getting summer here in the US. Having some fun outside, man. Because crypto, I see the memes of something posted, like, I've been trading for nine years and they're 29 and it's like this old nine. Like, yeah, that's crypto. So you've got to try to find ways to de-stress. Do your good research. Oh, sorry, you wanted a short answer. Yeah, de-stress, man. Give us a tip. All right, Sam, quick tips how to survive the bear market. Hold Bitcoin. Let me listen and on. He didn't sell. Did you? He didn't sell at the top. So just hold, okay? It is what it is now. Get ready for the next cycle in the next few years, probably. You're in a hard asset. We're all getting screwed no matter what asset we're in. So have that perspective. Hopefully you haven't invested too much that you actually need that liquidity. If you don't need that liquidity, let it sit because there's nowhere else to put it really right now. So hold your Bitcoin and chill, as Jordan said. And Marcel, your thoughts on how to get through this bear market here. Well, I think that the number one message that I would give to the viewers is there's nothing safe or stable in the world. Even if you buy U.S. treasures, you're losing money because they're devaluating the currency by printing more money out there. So yes, you get a two or 3% yield, but inflation runs at 8% or 10%. So in truth, you're losing 7% or 8% every year. So there's nothing stable out there. There's no 100% safe investment. So rethink your strategy if you think you're playing safe. Bring up some great points. I think for this particular bear market, just go look at the charts from like six months ago.  And I think when we zoom out one year in the future and we say, oh my gosh, look at the gift that we got. For those that survived the 2018 bear market and made it through the 2020 bull run, they were thankful that they were getting into some of these tokens at these prices. Now let's not forget that a lot of these tokens aren't going to be around another year or two. So stick with the gold standards, the bitcoins, the Ethereum's and maybe a few other projects that you really, really believe in the longevity for. And dollar costs average your way into these now because you may not see these price levels a year, two year, four years from now. So zoom out, have perspective for this bear market. Mentally, gotta stay in the game. So always, always zoom out. When it comes to that bear market, we got your back. That's why you gotta come here every Tuesday, 12 p.m. Eastern. Drop your Twitter handle in the chat. We're gonna be giving away that $50 at the end of the show to the CT swag shop. Next, we got Markets Pro, the two tokens that you should have been watching. Markets Pro has your back in the bull or bear market. So let's go ahead and jump into our Markets Pro, two tokens that you should have been watching. Did you hear that? Did you feel it? That was a newsquake. And newsquakes are the automated alerts that instantly notify users when market moving events happens. This week, we had that newsquake with the token YGG Yield Guild Games. Well, despite bear's trends early this week, news of Yield Guild Games partnership with leading Solana NFT marketplace, Magic Eden, saw impressive price action. Newsquake alerted Markets Pro subscribers to the partnership on May 11th when the price was at 52 cents. On May 13th, that price peaked at 74 cents, a 42% increase. Bear Markets, you're gonna take that all day. And that was the power of Markets Pro. You would have gotten that alert and been instantly able to action that trade and picked up a quick 42%. Now, the next token for this week is we're gonna take a look at that Vortex score in Sapphire trading under the ticker SAPP. If you're not familiar with the Vortex score, it's a comparison between the current market and social conditions of the past. A score of 80 or above is confidently bullish. 30 or below indicates historically bearish conditions. Well, you see the chart here. That Vortex score hit 86 and SAPP throughout the week alerting Markets Pro subscribers of a potential trading opportunity based on the historical conditions. So it turned out to be this week's top gainer defying the entire market. In less than a day, the price shot up from 48 cents to 77 cents, 57% gains. This is why you have Markets Pro, especially during a bear market, is because of these two trades and that's the power of the Vortex score and the newsquake. So if you're a subscriber, you're getting in on this action. And that's why we love Markets Pro. Now, guys, I want to get some closing thoughts from you all today. Let's start off with Jordan. Give me some closing thoughts here and then we're going to pick our $50 winner for the CT store. Yeah, the world's not ending. Yeah, crypto market's down. There's still trillion, like 40% of the money supply that's even higher than that's been printed in the last four years. Even though they're raising interest rates, all that money is still out there. They haven't taken it out of supply yet. There's a good chance that some of that could still find its way into the crypto market. Everything else just kind of goes on.  The stock market keeps collapsing. The bond market stays schizophrenic. Cryptos might be the haven that we're all hoping for. We might finally see that decoupling from the stock market. So keep the faith crypto faithful. Long term, the outlook for cryptos is still good. Like I said, try to find a way to enjoy life outside of this. Cryptos volatile. Accept it. Don't say I'm going to be rich in a year. Take a five-year, 10-year trajectory. Accumulate over the years. Don't let the ups and downs of the market kind of give you great hairs. And just realize that long term, we're on the uptrend. It's just, it's a volatile trip. Jordan, when you say decoupling, when you say decoupling, you mean cryptos going up and stock markets continue down or lateral, right? It's not the other way around. Yeah, fingers crossed, fingers crossed. Okay. Sam, any closing thoughts for today's show? Just know that the extremes don't last forever. You know, the extreme downside that we're seeing, it's not going to last forever, just like the extreme euphoric highs won't last forever. Things will eventually recalibrate, and you'll be able to better assess where we are in the market cycle. But overall, you should have an investment thesis and stick to it over the long term. Excellent feedback. And Marcel. Well, Benton, I think my closing thoughts will be, nobody knows what's going to happen. We've never been in a situation of such negative interest rates or the Fed hiking, the Fed phone rates so much. We've never seen anything similar in the past. And Bitcoin did not exist 15 or 20 years ago, so we don't know what's going to happen to the price. But if you believe in the asset, if you believe in Bitcoin, if you believe in interior, if you believe in the FI ecosystem, don't miss out the opportunity because the media or the government told you not to invest. Limit your exposure. So if you're comfortable with 10%, go ahead with 10%. If you're comfortable with 30%, go ahead with 30%. But don't miss out the opportunity because of the risks. Because if there's risk, there's reward. Exactly right. Knowing those risks, mitigating those risks, being comfortable with that risk, it's all subjective. But we are here for you, bear markets or bull markets. And we appreciate everyone for tuning in today on the market report. We're going to select our $50 voucher winner to the Cointelegraph store. I'm going to scroll through chat right now. Looks like Erica Hamilton at Erica Paper Hands.  That was the first Twitter handle I saw today in the chat. So congratulations.  Folks, we appreciate you tuning in as always to the market report. We're here on Tuesdays. And hopefully there's no more craziness in the market, but we may be popping in for a little special edition. So keep your eyes peeled. Don't forget to like and subscribe. Cointelegraph on YouTube. Thank you all for joining us today's show. We look forward to seeing you next week. Until next time, over and out.


Live from Las Vegas, it's theCUBE, covering AWS re-invent 2018.  Okay, welcome back everyone. Live here in Las Vegas, day three, last interview of the day, three days of wall-to-wall coverage, two sets here at AWS re-invent 2018. Our sixth year, we've been at every re-invent, except for the first one, and it's been great to watch the rise. I'm John Furrier with Dave Vellante. We're here with Andy Jassy, the CEO of AWS. Started this as a working backwards document years ago, 12 years ago, 12 and a half years. Seeing years ago was when the document was written and we launched it 12 and a half years ago. Great to see you, thanks for spending the time. I know you're super busy. Congratulations, we met last week. You couldn't really talk about it, but boy, it was so much more payload in the announcements than ever before. Are you happy with the results? Certainly, three-hour keynote was taxing. What's your impression? I was happy when the keynote was over, but no, we're thrilled with it, and most importantly, the reason we're thrilled is because our customers are thrilled. I think they just couldn't believe how much we delivered this week, well over 100 capabilities, and they were super excited about the storage announcements. The thing is, when you have millions of customers, any announcement you make is going to be popular with thousands of customers. So some people walked up to me and said, I know it's not sexy, but I love the storage announcements. I needed the file systems. I wanted that Glacier Deep Archive. Some customers love the database releases. We have lots of customers who are excited about the machine learning piece, and another unsexy one were the enterprise abstractions, just to make it so much easier for that type of builder who wants more prescriptive guidance to be able to get started quicker, and then people are pretty excited about Outpost too. So I'd ask you a question. I'll talk Amazon Speak now. What areas of the show do you feel you raised the bar this year on? What would you point to? Bar raising, moments, announcements. Well, I think each year, one of the things I like about re-invent and that we work hard on is we like to have, we don't really want it to be a corporate event. We want it to be quirky, and we want it to be authentic, and we want our community to have fun here while they also learn. So midnight madness is, for instance, something we do every, you know, we've done the last couple of years and we try radically different things. And so I thought the Tatanka eating contest raised the bar again this year. It was the second year in a row that we said again, it's Book of World Records. And, you know, I thought, I really liked Peter DeSantis' and Werner Vogel's keynotes on Monday and today respectively. I thought they both were fantastic and keep raising the bar every year. And, you know, I hope the party tonight too will be something that people feel like raised the bar year over year. I thought the house band's synchronicity was quite good too, you know? Yeah, I agree. That band is terrific.  But the most important thing by far is the learning of the education. And then our customer's excited about not just the platform, but we launch so many things. Do they feel like it helps them do their job better? Well, while we're on the raising bar, we got a prop here. This is the deep racer. Deep, deep, the deep racer machine learning. It's a toy for testing. And the question comes up, how old do you have to be to use this? And I said, hey, if your kid can code machine learning, good for them. But talk about this, because this is kind of interesting and because it's fun, but where'd this come from? You know, it came from last year when we released SageMaker and we were making machine learning so much easier for everyday developers and scientists. We said, what can we do to give people hands-on experience? Because you'll learn things better if you actually try it. And so we tried to help developers get more experience to computer vision by having a deep lens, you know, video camera and that was wildly popular. And so as we were thinking about this year, making reinforcement learning available as easily as we are in SageMaker, which we think is a huge potential game changer reinforcement learning, the team kept thinking about, it's great, but nobody knows about reinforcement learning and nobody has experience with it. How can we give them experience? What are ways they can get hands-on experience? And that's how the DeepRacer car came up, which is really making it simple where they can just give us a reward function with a line of Python script and then SageMaker will automatically train an RL algorithm and then they could deploy it to the car and then race against one another. When we watched how competitive it was getting inside our own house on these RL infused cars racing each other, we figured other people might find it compelling as well. And I couldn't believe how many people participated yesterday. And then I don't know if you saw it during right before Werner's keynote, the finals were really exciting too. Like the fact that there were some imperfections were actually made it more compelling to watch. And so it was- So you had a racer cup coming up too, I'm at 2019, competitive, that's going to happen. Yeah, today was the accelerated version of the first ever DeepRacer League championship cup, but next year will be a full season in our 28 WS summits. The top winners in the DeepRacer League races at each of those summits, plus the top 10 vote getters in points from those summits will come here and compete for the championship cup next year. You and I talked about a new persona last week when we met, but now the announcement's pretty clear. Now why? This points to a whole new persona developer. You got eSports on the Twitch side booming. eSports is changing the game in the whole digital sports category. Robotics space, you got a satellite announcement. This is a genre change in digital culture. And you see the AI stuff and machine learning. How does a web services stack play in this new world where AI is now a service? It's a whole nother paradigm shift. What's your thoughts on all that? Well, you know, I mean, all those areas that we're continuing to expand into are areas that our customers are asking us to help them with and where there are huge opportunities for customers, but where it's hard. I mean, if you look at space as an example, if you have to interact with a satellite, it's expensive to have to have all those satellites set up and those ground antennas set up and then you have to program them and then you actually have to pay this fixed price instead of on-demand. Customers said, why can't you give us access to those satellites the way we consume AWS? And then if you can have the ground antennas where when the data comes down from the satellite, it's basically on the same premises as your AWS region so we can store the data and process the data, analyze it and take action, that is very compelling. So that just felt like a natural fit. And the same thing with robotics. I think that robotics is one of the most underrated areas in technology. I think robots will do all kinds of things for us at work and in the home. And the tools out there to make it easy to build robotic applications and to do the simulation and to deploy them and then have them work with the rest of your applications and infrastructure have been pretty primitive. And so RoboMaker is a big- I agree with you. I think you look at the younger generation too, even at the high school elementary level, people are gravitating towards robotics. Robotics clubs are booming, that maker culture goes to a whole other level with robotics, congratulations. You know, it's funny, we had the youngest person to ever pass the AWS certification exam is a kid named Karthik, nine years old, he was here this week, actually. And I got a chance to meet with him today and I said, well, after the certification, what are you doing? He said, well, I'm building a robot. And I'm building a robot. And he said, now with your launch of DeepRacer, I want to try and find a way to have the DeepRacer car be the eyes and the camera and the reinforcement learning for my robot, nine years old. So it's going to be a different generation with what they build. John and I were talking this morning, Andy, at our Open, about you're making it harder for the critics. You used to be self-service only, criticize your open source contributions, the hybrid strategy, you're kind of ticking the boxes on all of those. Outpost was, I think, surprised a lot of people. It didn't so much surprise us that you were moving in that direction, but I wonder if you could sort of talk about some of those key initiatives. I know it's customer-driven, but wow, the TAM expansion, the customer value that you're bringing, it's like a whole new era that you're entering.  And so we just started over the last six months, you know, and really by virtue of having this partnership with VMware, where we have a lot of enterprise engagement as they're moving to the cloud, using VMware cloud and AWS, we had a bunch of customers say, it's really great. I'm moving most of my applications to the cloud, but there's some that aren't moving for a while because they got to be close to selling on-premises, and I want to use AWS for this. I don't want a different environment. Can you just find a way to put some services, like compute and storage, on-premises and hardware, but I want to actually use the same control plan I'm going to use for the rest of AWS, and I want it to easily connect with the rest of my applications in AWS. And we didn't like, as you and I talked about a week or two ago, we just have not liked the model that's been out there so far to do this because it's, you know, the control plan is different, the APIs are different, the tools are different, the hardware is different, the functionality is different, and customers don't like it, it's why it's not getting much traction, and we didn't want to pursue it if we didn't think it was going to be useful, but we had this concept we were working on with a couple of customers where they wanted compute and storage on-premises, but they wanted to have that connect with all the other applications in the AWS cloud, and so we had this idea that maybe this local set of compute and storage would be like a far zone from an availability zone they were using, and we started thinking about that and we thought there was a much more generalized idea which became outposts, and so the thing that I think people are going to love about that is for the applications that can't move easily because they need to be coastline on-premises, you get AWS, like real AWS compute, real AWS storage, analytics, database, SageMaker will be in there as well, but it's the same APIs, the same control plan, the same tools, the same hardware we use in our data centers, and it'll easily connect through the same control plane to the rest of AWS, the rest of the services and the rest of their applications there, so. And it provides a platform for a whole host of new services down the road. I mean, every customer meeting I've had in the last, you know, since we made the announcement, people are excited about it. I wanted to ask you guys, you're talking about all the innovation and new areas, and we're seeing an expansion of the AWS distinct brand in things like TV advertising, StatCast, I wonder what's behind that, can you address that? Yeah, it's a good question. I mean, there's kind of two different types of, I'll call it TV advertising of sorts we're doing. One is straight up advertising, one is less so, which is, you know, the one that's less so is that a number of the sports leagues are really interested and actually pretty sophisticated in using cloud computing and analytics and machine learning. If you look at Major League Baseball and now NFL and Formula One, and they want to make the user experience and the viewer experience so much better, and so they're building on top of AWS, and then we like the ability of helping them showcase the capabilities that they're, you know, both the customer experience and the ML and AI capabilities. Then there's just the straight up advertising that we've been trying. We tried a little bit of it last Q4, and, you know, it's always very difficult to quantitatively measure TV, but we have a lot of ways that we try to triangulate that, and we were really surprised at what looked like the positive numbers we saw for both TV as well as the outdoor media and things like in the airports and things like that, and so we decided we would try it again this Q4, and, you know, I think, I would call us right now still experimenting, and it's very much kind of what Amazon does, which is we try different things and see what resonates and see what the field says. So far, so good, and we expect to keep experimenting. I think that's a good call because the brand lift is probably there. Obviously impressions get reached vehicle, but you guys are in a rising tide market. We're hearing co-creation, VMware co-creating, deep, meaningful partnerships. You always talk about that. So it's kind of this success model of innovation to reimagine the satellite, Lockheed Martin, a partnership. This seems to be a new way to do business in this rising tide. How are you guys getting the word out, education? People want to know more. This is a big kind of movement. Yeah, well, you know, I think that if you looked at the first several years of AWS, I was always surprised when I would go see enterprises and they would have no idea that Amazon was doing anything in the cloud, even though we had the only cloud offering at the time. So I think if you compare where we were a few years ago to today, there's gigantic awareness relatively speaking, but I still think that there are so many, the vast majority of workloads still live on premises. I mean, we have a $27 billion revenue run right business. It's growing 46% year over year. And yet we're still at the early stages of the meat of enterprise and public sector adoption in the US, you go outside the US where they're 12 to 36 months behind, depending on the country and the industry.  But you guys are doing regions out there, Italy was announced, you're expanding very fast globally. Can you talk about that real quick? Yeah, it's a, you know, we've had customers from 192 countries using AWS for many, many years, but they've been using AWS in regions outside of their country usually, because there are a lot of workloads that could stand that latency and where the data doesn't have to be on natural soil. But increasingly, if you want to help customers get done what they want to and serve the broader array of their applications, you have to have regions in their country, both so that they have lower latency to their end users and because of the data sovereignty laws, which are getting really more rigid rather than more flexible. Let me ask you a question about competition. You said, I can't remember some of the cube we're in person, there's no compression algorithm for experience and time. Classic economies of scale. When you have copycat, people trying to copy Amazon, how do you talk about some of those things that are the diseconomies of scale? What are the points that customers should look at when they say, okay, I got someone else was talking cloud, Amazon's got years of experience ahead of the competition, more services. What do you talk about? What do you point to? It's not about slimming the competition, but what is the diseconomy of scale to try to match the trajectory of Amazon?  First of all, it's operational performance. A lot of the hardest lessons you learn in operating a scale only happen when you get to that level of scale. And there's some events that we see sometimes elsewhere where we look at that and then we read the post-mortem and we say, oh yeah, 2011. We remember that. We went through that. And I don't wish it on anybody, but when you have a business that's several times larger than the next four providers combined, you've just set a different level of scale and you've learned lessons earlier. I also think that the reason that we continue to have both so much more functionality and innovate at a faster clip and seem to get capabilities that customers want is because we have so many more customers than anybody else. You know, a lot of times, and this has happened all week too, where customers will say to me, I can't believe that you knew that I wanted that. And I always say it's because you told us. It's not like we're noses or namas, you've told us that. And so when you have so many more customers and when they feel free to give you feedback and when you've built good mechanisms like we have to get that feedback from the field to the product builders, it means there's this real flywheel of getting, you know, getting more customers leads to more feedback, leads to more features, leads to better functionality, where there's a network effect from being on the platform with all those other customers and all those industries. I wonder if you could add some color to a premise that we've put forth on your edge strategy. So as you know, we do a lot of these shows and a lot of the IoT and edge strategies that we've seen from traditional IT players, what you call the old guard, have fallen flat in our opinion because it's a top-down approach. It reminds us of the Windows phone. It just didn't work and it's not going to work because they're operations technologies people. We see what you've announced here as a bottom's up approach. You're developing an application platform to build, secure, and manage apps for those folks at the edge. I wonder if you could add some color to that and some thoughts on your edge strategy. Yeah, I mean, again, for us, we don't have some top-down strategy that I think is grandiose. It's just what customers want. And so we have so many customers who have all these devices at the edge and all these assets at the edge and they say to us, well, the first problem I want to get this data into the cloud and then I want to do analytics on it. We say, okay, well, how can we help? They say, well, the first thing is, I don't even know how to translate this data from the device protocol to just being able to operate in the cloud. So that's the first problem we go solve. And then people say, okay, now I can get it in, but I actually, I need security. Like, if you look at the amount of security options for these edge devices, it's a new field. That Dine attack that took a lot of the internet down a couple of years ago came from a device on the edge. And so that's why we built a security capability and people say, well, okay, now you've made it so I can run devices, but if I'm going to run thousands of devices, I need a way to manage all those devices at scale. And we built something to manage the devices. And people say, well, okay, it's great that I can do it in devices big enough that have a CPU, but what about when they don't have a CPU? They have just a microcontroller and that's why we built the RTOS piece. And the list kind of keeps going. People say, this is great. Now that I get all this data in the cloud, I can take all these analytics actions, but on my device sometimes I don't want to make the round trip to the cloud. So can you give me a way to use the same programming model and pick which triggers I want to take action in the cloud versus those that want to take on the device itself, which was what Greengrass was. So all of those pieces is not some kind of top down master plan as much as we know that customers have all these devices at the edge that they want to use that data, analyze that data, take action on that data and send it back in multiple ways. And you have the cloud platform to give them the services to make the tools, the right tools for the right job. That's the main theme. So I got to ask you about one of the big controversies that we don't think that's that controversial, but the chips that you announced, new Amazon web services, microprocessors, the chips. The two of them, talk about them, and Intel's also a partner. A lot of people were talking about this in the press. Intel, Amazon, chips. Well, that Annapurna acquisition is starting to bear fruit. It was 2015, I think, really. It really, the Annapurna team is fantastic, and they've added a huge amount of value to AWS and Amazon as a whole. You know, the first thing I would say is that Intel is a very deep partner of AWS and will be for a long time. I mean, that's not changing. And we've long thought that there were going to be lots of different processors out there and different ones that did different things with different price points. And so, like a lot of other companies, we've been interested in ARM for a long time and for a while it wasn't mature enough and the technology's matured. And we found a way in building our own ARM chip with Graviton, where we think we can allow customers to run a lot of their scale out generalized workloads, but up to 45% less expensively. And so, when you find a value proposition that compelling for customers, you need to do it. And you know, as I mentioned in the keynote yesterday when we were talking about inference, we feel like a lot of the world has been solving for training and not solving as much for inference yet. And we've made training so much easier with the things that we've built in AWS over the last couple of years, but inference is where most of the cost is going to be. And so, elastic inference, we think, you know, will allow people to be much more efficient in how they use GPUs and how they spend money. But when you've got the type of workloads at scale and productions that use whole GPUs or that need that low latency where you need it on the hardware, a chip that's optimized for inference that is faster, that's more cost effective, that's high throughput, where you can get hundreds of tops on it and thousands of you band them together is going to totally change the game for inference. And so, that was something that wasn't easy for us to find elsewhere. And when we have a team, fortunately, they could build it. And it's the combination of the elastic service of inference with the chip that makes the difference. It's both, yeah. And so, it's a specialism there. So, it's not like a...  But it comes down to really deeply understanding the customer problem again. The training versus inference, and everybody talks about the training. But the technical challenge, you guys realize there's the inference. Intel's going to make a lot of money and the time's expanding, market's expanding. So, they'll get their share. You know that the chips get taped out. They're kind of a couple year, two, three year life cycles and everything starts anew every time somebody's building a new chip. So, I think it's actually great for customers of all sorts that there's multiple processors that are possible, but we will have a deep relationship with Intel forever, I think. So, I want to talk about one of the cool demos you did on stage. No, you did. Customer did. F1. That was super cool. I love that imagery because it's an analogy of high performance, competitive, racing. That can be applied to business, play, sports, anything. And the level of accuracy that they need in the real time time series kind of encapsulates a lot of the cloud value. Talk about the F1 analytic thing. Are you guys going to sponsor these events? Is there a relationship there? Give us the picture of what's going on there. We have a deep relationship with Formula One where they're using our platform to do all their digital properties as well as their analytics and machine learning. And it was super cool to see Ross demo the way that they're changing the user experience for viewers. It's an amazing sport. It's not watched as much maybe in the US, but outside the US, that is the motor sport. And the way that they're changing the experience, the way that they're able to assess what's happening with drivers and with cars and then predict what's actually happening and make the viewer feel like they're actually either in the cockpit or actually in the pit itself with the crew is, it's really exciting and it's an honor to be a partner. So, you have to do some events there. We've got to get the cube there. These big time events. There's a tech angle now on everything. That's a plug for you to be at the F1 event. Cloud democratizing, you're hitting now new industries. I mean, this is the thing, right? I mean, it's disrupting every industry.  I mean, what areas do you see that yet aren't coming online to the cloud? I don't see industry segments at this point that aren't moving to the cloud. I would have told you 18 to 24 months ago that I felt like financial services was moving a lot more slowly than I thought they should. You know, probably healthcare also was a little bit slower, but both of those industry segments are moving very aggressively to the cloud. Well, it's taking longer. They're high-risk industries and the digital transformation hasn't occurred fast enough, but it's coming. And there's regulatory pieces that they legitimately have to sort through. And, you know, we have just, if you look at financial services as an example, we have a pretty significant team that does nothing but work with our partners to help them with the regulatory bodies. Because what we find is, when we go with a customer to a regulator and show them a real use case and then how it will be done in AWS, the regulator says, oh, well that's more secure than you do on premises. And so it's just an education process. And, you know, I think that's been helpful and helpful. Okay, final question for you. What have you observed here at ReInvent? Obviously, a lot of people talk until you get a lot of feedback. Actually, two-part question because I always ask the final, final question. So I'll just get it out front. What are people missing? Of all the announcements you've had, a lot of signal in there, a lot of announcements, what is something that you've observed that you think should be amplified that people might have not overlooked but you feel like it's more important to shine the light on? We'll start with that one. Well, you know, it's a little hard for me to tell this moment just because there have been so many it's a short amount of time. And if we just look a little bit at the coverage, it seems. And if I take just as inputs, the comments and the questions from customers, it's been pretty broadly understood and people are pretty excited. And as I said, different segments have kind of their favorite areas. But I feel like people are pretty excited by the breadth of capabilities. You know, I think that if I picked two in particular, I would say that people are still in the machine learning space. People are blown away by how much we provided all three layers of the stack. I think people are still getting their heads around which layer of the stack am I going to participate at? You know, I mean, the one that probably has the most potential for most companies is that middle layer because most companies now have gobs of data and there are jewels in that data. And if you can enable their developers, their everyday developers to be able to build models and get at the predictive value and add value, that has huge impact for companies moving forward. But most modern companies with technology functions will use all three layers of the stack. So just getting their arms around which layers of the stack they should take advantage of first and having the personnel to be able to do it. And we're making that much easier with things like SageMaker. And then, you know, I think if you look at the blockchain space, I think that that is just one of those spaces that has a huge amount of buzz. People talk a lot about, they're not exactly sure sometimes what they're going to do. But I also think that a lot of people said to us that breaking those into those two real customer jobs to be done and then having a great solution that does each of those jobs really well is not only something that AWS does all the time that makes it easier for them, but it also made it easier for a lot of them to understand, like a lot of customers said to us, you know, that QLDB, that ledger database with a single trust of central authority for my supply chain, that's what I need for my supply chain. I don't need all the complexity of a blockchain framework. And then there were a lot of other people who said, oh yeah, that is what I wanted. I wanted the decentralized trust between peers, but I just needed a way easier way to manage hyper ledger fabric and Ethereum. And so I think those are two that people like are so interested in still figuring out how to use as expansively as I think they hope they will. Andy, thanks so much for your time. And I want to just say watching you guys for the past six years has been a fun journey together, but watching the execution, you guys have done an amazing job of keeping your eye on the ball and being humble, but being proud and loud at the same time. So congratulations and guns blaring in 2019, what's your top priority? Besides listening to the customers, what's your top priority in 2019? We know you're listening to customers. Oh my gosh, we have so many things that we're doing in 2019, but you know, we have a lot of delivery in front of us. I mean, as much as we launched 140 unique things over the last six to eight business days, and yet I tell you to stay tuned the rest of 2018, we have more coming. And then in 19, you should expect to see more compute capabilities, more database capabilities, more machine learning capabilities, more analytics capabilities.  We're going to need to post reinvent, post traumatic announcement syndrome because just to digest it all is a lot of work. I'm also looking forward to seeing how enterprises continue to kind of manage their hybrid approach as they're making this transition from on-premises to the cloud. How many continue to jump on to VMware Cloud and AWS? How many jump on to Outpost? I think that that transition and helping customers do that easily is something I'm looking forward to. It'll be a fun year. Of course, we'll be commentating and pontificating on that for the next year. Thanks for your time. I appreciate you having me. And I appreciate that you guys come every year too. Thanks Andy. It's a really part of that. Hey, our pleasure. Okay, winding down, that's the last interview here. The wall-to-wall covers two sets, 110 interviews in the books. We'll have 500 video assets total. Blog post on SiliconANGLE.com. That's reinvent closing down 2018. Thanks for watching.


Hey friends tonight. We are hanging out at the Magic Kingdom and happily ever after is back We have a special preview to watch the amazing nighttime Spectacular before it fully returns April 3rd, and I am so excited So we're gonna ride some rides eat some food and have a beautiful happily ever after Anyhoo, let's go do this And we have made it to the Magic Kingdom Sometimes I like to start my videos off on Main Street looking down at Cinderella Castle But this is such a beautiful view over by sleepy hollow, so I figured I'd start here today If you're not familiar with happily ever after it is an amazing Fireworks show that they had here at the Magic Kingdom, but during the 50th anniversary they decided to replace it with a new show called Disney Enchantment and So many people were upset that they missed the happily ever after they decided to bring it back They're bringing it back because the 50th anniversary is ending and I was at D23 when they made the announcement and when they did the whole Entire audience went crazy, and I'm just so excited to be able to see it again It's been over a year since happily ever after went away And it was replaced with Disney Enchantment just like you see on this sign now This sign used to say happily ever after presented by Pandora But let me know are you guys team Disney Enchantment or team happily ever after because I know there was a big Outcry for happily ever after to come back, but there was a lot of people who actually did enjoy Disney Enchantment Disney is actually having a media event tonight and Cast member previews for happily ever after and a cast member friend of mine invited me to be their plus one So I'm so excited because the event isn't until 11 30. They're shooting up the fireworks at 11 30 That is two and a half hours after the park closes So we're gonna be able to have the park to ourselves, and I'm sure Disney's gonna throw some surprises in there I wouldn't be shocked if there isn't any live performances or something special that happened So it's gonna be pretty cool, and I'm so excited. I Really do believe Disney Enchantment was a great show, but happily ever after just pulls on my heartstrings I mean, I just love it so much the music the fireworks It's just incredible, and I have to say for myself personally. I'm team happily ever after On top of happily ever after coming back tonight. It's also my friend Sean's birthday So we're gonna go out for a special birthday dinner with him And we're going to Sebastian's bistro, which is gonna be really fun And then we're gonna come back here and close out the night at the Magic Kingdom And like I said the special preview or the special event isn't until 11 30 So it is late in the night, and we'll be here probably till one o'clock in the morning. I'm assuming Since they don't have anything special seeing the return of happily ever after I decided to get a I'm celebrating button and I wrote happily ever after on there. Well, the cast member wrote happily ever after on there I could never write that pretty Like I mentioned before happily ever after doesn't officially return until April 3rd And tonight is just a special preview, but happily ever after comes back April 3rd, and then on April 4th. Tron opens up to the public So it's gonna be super busy the first week of April here at the Magic Kingdom Because there's a special Tron media event tonight. They actually closed down Tomorrowland at 5 p.m And some select experiences will be available until 6 o'clock like Monsters, Incorporated and Buzz Lightyear But all of Tomorrowland will be closed after that We're gonna be here at the Magic Kingdom all night once the part closes So I think we're gonna actually go meet up with Sean and start celebrating his birthday a little bit Get ready for some dinner, and then we're gonna come back to the Magic Kingdom and ride a bunch of rides because I'm sure the rides are gonna be open and Finally be able to get to see happily ever after return, and it's gonna be pretty amazing And look at this the birthday boy himself. Oh Yeah Too old 45 Sebastian Bistros is actually located at Disney's Caribbean Beach resort So that's where we are at now, and I've eaten here before it's actually really amazing and it's nicely themed to Sebastian from the Little Mermaid And we have made it to Sebastian's Bistro right on over here got your cake sir They actually have a menu outside. This is like a family-style dining.  This is basically everything you get for $32, and let me tell you something It's a lot of food. Look at that $32 is also such an amazing deal, especially for all you care to enjoy The last time I was here it was all you care to enjoy and you could add on coconut shrimp If you wanted to like as an upgrade or an upcharge So I'm very excited and plus I got to show you something really cool because they do have some dessert that they offer as well Also, I wanted to point out that it actually does come with a dessert and the dessert is a Special coconut pineapple bread pudding with caramel sauce and vanilla ice cream and a lot of people have compared this to Ohana's bread pudding In fact, some people like this better than Ohana's bread pudding. So that actually tells you a lot Looks like our table is ready, and we're actually with a big group of people I've never thought that on the Disney reservation like system You can actually book a party or a table of 12, but we were able to here. Isn't that crazy?  It's very nice. Everything looks clean and fresh and it's very like Bright and sunny inside the dining room Now we have made it to our table it's time to look over the drink menu like I said It's kind of like a family-style meal, so they're gonna bring everything out to us But they do have some interesting drinks though The one thing that caught my eye was this marooned pig old-fashioned It's buffalo trace Kentucky bourbon bacon infused puree Maple syrup and then bitters and bacon look at that So I think I'm actually gonna get that and then here's another look at all the food because I'm actually sure if you Guys were able to read it before but it starts off with a mixed greens and kale with spice candy pumpkin seeds Like a little salad there, and then they also have buttery house-baked pull apart rolls which are amazing So that's what we're gonna start out with first Here is a look at the salad it looks very like colorful and fruity. It's got nuts and what are these are these? Are they are they clementines or oranges or mandarins they look like clementines to me, but it looks like a good salad Oh, that's their one. Oh, there they are look at wow Look at that look at the rolls. Oh my lord Yep put them down right there. Thank you so good. Oh coconut shrimp That's what we need and then look at those rolls holy moly All right, let's dive in the food hasn't even come out yet These pull apart rolls are so good. Look at us Look at that. I don't even know if I did a justice there And for an extra $10 you can get the coconut shrimp and look at this actually comes out on some leaves there I don't even know what that is. I like a coconut leaf. I don't know, but we're diving in we're grabbing some shrimp It's good shrimp right here That's seriously some of the best Coconut shrimp I think I've ever had it is so good here comes the bacon old-fashioned or the maroon pig look at that I Almost got a truly you truly did I really do love these little pull apart rolls though the butter is okay, but I'm more than I like the jam It's like a bacon onion jam, but it just goes so good You guys let's do a cheers for Sean here Everyone's got their drinks Cheers happy birthday Here goes the bacon old-fashioned So good It's really good. It doesn't taste much like bacon though It kind of has more of a maple like the maple is more Pungent than the bacon itself still very good old-fashioned, but I do judge because it's not a single cube I thought if they had a fancy like old-fashioned on hand They would just automatically come with a single cube, but I was wrong Here is a look at the main event. There's so much food on this table. Look at this. We got the steak We've got the chutney. We've got the pork. We've got the chicken. Then we've got the sides over here I don't even know what these sides are Look at this cilantro Wow There's a lot of food guys Yeah This is a lot of food Let's start off with the steak here Okay, that's good The steak is cooked so good everything just has a lot of flavor to it Not too salty either.  Oh, thank you. Thank you The chicken has a really wonderful seasoning on it. I love the chicken actually It was really really good as you can see all the seasoning on there Well, not now because it's probably blurred out, but it's really good. I got a little drumstick Spoon man come together with your friend save me You don't know that song do you? Yeah, yeah, we'll leave this thing in the Nicky tea here All right enough of the food everything was amazing the steak was probably my favorite thing I don't know why it just has this amazing seasoning to it and it's not like a fancy steak It's just like a I think a sirloin actually, but it was cooked to perfection now It's time for the coconut pineapple bread pudding, but also we got Sean's cake, too So I don't think double dessert. I honestly as much as I love public cakes I think I'd rather stick to the bread pudding Give us the poor Little bit on this side That was a good poor that was a good poor Here we go you got to let me know if this is better than Ohana or tide That's amazing bread pudding. Wow, it's better better better than Ohana not it the old Ohana bread pudding was better But this is better than the current Ohana bread pudding What do you guys think When you guys were saying it Happy birthday Dear Sean Happy birthday to you For me I have to say I do love this bread pudding, but nothing beats Ohana's bread pudding as you're sitting there watching Happily ever after or enchantment and just I don't know you can't beat it, but they do taste very similar I'm not too sure what it is. That's different. I don't know what's different This is coconut pineapple. Maybe I should look up with Ohana's bread pudding. I thought it was banana. Why was banana at one time? Used to be it's not that way anymore. I guess Sean is it true you can have your cake and eat it, too It's only on your birthday dinner was amazing and now it is dark outside and we need to make our way back to Magic Kingdom It is happily ever after time. I'm so excited. I was actually there the last night I was there the first night when it came back after the shutdown and I'm excited to be here again to witness Happily ever after still thriving still being the favorite of so many people and it's gonna it's really it's Honestly, it might make me cry We still got lots of cake left over you bringing that to the Magic Kingdom. Is that cake for happily ever after too? Yeah ready to begin This is the moment Magic happens before happily ever after Oh The check-in for this special event is actually at the TTC and then you go over to the Magic Kingdom So that's why we're actually here instead of inside the Magic Kingdom. I Have never seen so many people max exiting and max entering the Magic Kingdom before look at this Oh Goodbye, I'll never forget you Three I guess we'll just go five four The good old general Joe Potter general Joe oh scared me just So excited yep look at that and we're going we're taking the back way We're going in the back way See Mickey bars while you're waiting in line and ears first always Oh and I'm giving away waters. No, I'm only I'm so sorry They ended up giving us this awesome happily ever after cast preview like story card And it's actually from Melissa who is the vice president of Magic Kingdom And it's really cool because it says to all cast members and their friends family and loved ones I'm so thankful you chose to be here with us tonight And you are a part of our Disney story and it ends with reach out and find your happily ever after So I thought that was really cool Just keep swimming we're making our way up there Oh Look at this oh, whoa, they must have officially just like did the celebration of a tron Ready to begin But still kind of cool though This is actually really nice what they got going on here Here's the grand finale Well, that was a whole bunch of kind of madness because you had so many people Coming into the park and then so many people leaving the park But we are in front of the castle like exactly in front of the castle The reason we wanted to do this is because we're hoping for like a live performance Maybe Jordan Fisher is gonna come out and sing happily ever after so we made our way all the way to the front And I am so excited what we're here with some great friends and this is gonna be epic I ran into some friends Lawrence floating lights very fun. Nice to see you. Are you excited for happily ever after? Here we are front and center look at that Magic Kingdom will proudly present preview of the highly anticipated return of Happily ever after Oh Time is the right time for spectacular showtime, right? Exactly, and that is a great segue because we are here of course night for the return of a cast and guest favorite It started. I want to try something out. No judgment. All right. I need you all to call something else out to me Ready to begin Oh Each of us has a dream a house desire It calls to us and when we're brave enough to listen and bold enough to pursue That dream will lead us on a journey to discover who we are meant to be All we have to do is look inside our hearts And unlock the magic And the crowds they'll cheer comes to an end But yours continues on Grow the hold of your dreams and make them come true For you are the key to unlocking your own magic Now go let your dreams guide you Reach out and find your Happily we're starting to make our way out empty Main Street very fancy is a line of people Waiting to get a photo with Jeff Valley. Look at this a Line of cast members waiting to get a photo with the president of Walt Disney World We're gonna recap once we get back to the TTC. Oh, yes, that's the recap right there Ten out of ten, huh? That's the way. I know I did cry a little bit With that we are back home. What an epic day first of all a big Thank you to my cast member friends who got me in so that I was able to watch happily ever after for the cast previews Thank you guys so much second of all happy birthday, Sean I hope you enjoy your day. We had a lot of fun together We got to watch happily ever after together and it was incredible. It literally gave me goosebumps I'm the little sad Jordan Fisher didn't show up but I think he's doing Sweeney Todd right now, so that's probably why I think he's up and he's on Broadway and Yeah, I think the show is back and better than ever. It's got amazing Projections on the castle. I don't know how much I can put in for you guys because of copyright in the music But those projections were spot-on and the lasers I cannot wait till April 3rd to go back and see it on Main Street We're gonna see all the new projections on Main Street. That's gonna be awesome The best part of the night though is hearing them strumming to go the distance. I'm telling you I just love that song. It is my all-time favorite Disney song and as soon as it actually plays I can feel like the heartstrings and then the excitement of the crowd the cast members were singing it was It was it was emotional a lot of people were crying believe it or not This is a big deal to people and I mean it's a big deal to me and a lot of people You know take it as a a sign of happiness and a sign of hope and it'll bring back to a moment Where they were happy or anything like that? So that's why people get very emotional and I feel like Disney in general is like that and If you know you know if you get it you get it and that's exactly how it is But now we're back home. I got to see Gracie girl. It's been an amazing day and I hope you enjoyed the video Because I enjoyed making it. We'll see you next time. Bye