Well everybody today is another one of those days where Things just kind of continued to fall down gradually and I don't know where you're at on the spectrum But I got to tell you I think things are are looking a little bit Shady, and if you're like me and you're into volatility I think this is the day the question is where are we going from here and what's going on So just real quick Let's just go over a couple of things just to ease everybody's mind about what's actually happening and what's actually Going on first of all here in green You know you would think that you know after like 10 15% drop for some cryptos like 20% across Specific ones we'd see more of a little bit more of fear and Right now we're looking at 3700 which isn't even extreme fear, which is not bad We're kind of like right in the middle between in the middle of the road apathy just to a little bit of fear so not too bad and Let's see mr. Life crush is this live or what my lagging what's going on needs live. Hopefully that answers your question. So The next question is Okay, well, we just lost a pretty large amount. I mean, let's see the price today 26 1 I think we dipped to 25 at some point Mark and cap May go below a trillion. We might actually see that into the hundreds of billions pretty soon so where are we as far as like what's valued and You have to understand that in the crypto market There are the times that we cheer are the times when everything is overvalued. Let's be honest because if we take a look at Just the market cap and we go back to 15th November of 2020 That's when we had a pretty much a fair market value 13th November 2020 the fair market value was 492 billion The upper band was 4.7 trillion, which is pretty ridiculous and the lower band was 170 billion this was like right in the middle and then as time went on of course that was the year Actually, just that just the months before if we go back to April April no, no, excuse me may 12th I believe it was was the last having and we were undervalued at that point Then of course things rock it up We hit it and then all of a sudden everybody's celebrating because we're overvalued and this is where we think that we should be But in all honesty, we shouldn't always be up in this overvalued range as far as crypto I know people like would like to think that and then of course we come down to reality and we've been trading underneath for quite some time as an undervalued territory and It might get a little more so So before we go on I would just like to say a moment of silence for everybody who went long looks like Not unfortunately a great 24 hours for those individuals as we can see here for total liquidations We're looking at the last 24 hours 964 million almost a billion in a very short amount of time so Unfortunately to play that game. It's requires more ice in the veins than what I have so sorry about that But today, of course, here's what we have ice and the big question I have is you know, where are we going from here? And I think some of the things we can look at is a little bit of the past and and see where things are going and Just to understand that these things these cycles keep happening again and again and again So what I did I just took a look at the Bitcoin price because everything falls of Bitcoin And I took a look at between January 1st 2023 to August 17th Let's see. Let me put it in August 18th that a little bit. It's the 18th, right? Now, that's it Regardless still a pretty big dip. So we start here on the first of the year remember we were we had almost doubled our price We were up 80% we started at $16,615 on 1st of January 203. So we had One massive pump up and a drop Second massive pump up then a then a slow decline in a drop and a massive pump up and another drop So what did that look like in the last cycle because you have to understand that everything that we talk about Happens again again and again and of course I'm always a big believer in the four-year cycles Some people are some people are not but it's pretty much play the same way over and over again And this is just a basic look of how things go in 2000 2010 Bear Bear well, of course Bitcoin was created the white paper 2008 2009 Genesis Block in 2010 11 then 2012 was the first having then we had a pretty big run up a big one from $1 to a thousand pretty good times then 2014 and 2017 It looks like this 2012 a having 2013 all-time high dip in a reset 16 having all-time high dip resets 2020 Having all-time high dip reset and of course we're in that reset year or the pre-having year and the last time we were there was 2019 so what I want to take a look at is did this repeat? Because 2023 is kind of like 2019. So let's take a look. This is January 1st 2019 to the end of 2019 and If we're looking at it Roughly, this is where we would be at in 2019 and this right in the middle essentially almost in the middle And you're gonna see that we had a nice little romp.  So I Don't expect things to Rally up. I know some people have called for something crazy like 125,000 Bitcoin by the end of this year But if history serves us, I think it's not going to happen and especially let me skip around here because This is the Bitcoin monthly returns table. I think we've seen this quite a bit and August So far Is about negative 10% and if we take a look across the board We got one two three four five six seven eight nine nine red months at a 14 That's a lot of months. That's a lot of months I'm just in the red and not like a little bit in the red but a lot in the red and that's August September is statistically the worst month Across the board for crypto digital assets traditional finance and you can see out of those months It's one two three four five six seven eight nine ten And there's only 13 there So when we take a look here, and I see well, what's going to happen? I don't think August is gonna continue to be awesome Hasn't been that great so far and September probably not as well. Why am I telling you this? There's a very simple reason It's because I don't want people to be caught off guard and you know, it's a funny thing like on this channel I've been let's be honest pretty bearish for some time and I'm warning people I'm like look these are the things are gonna happen this year and I see a recession on the horizon especially take a look at the Yielding version I see some more pain. However, it doesn't really matter. All you got to do is stay alive till 2025 Because either we're gonna have a pretty big bull market I believe in the end of 2024 Maybe what happens or 2025 or maybe in 2026 but these types of months are just those months that come and this is a normal Occurrence especially for crypto. The question is well, what comes next? Well, we take a look here And we're looking across the board 2019. We know what happens But see how it kind of just slopes off and kind of evens out and it's kind of flat from November forward November December Even if it goes down look what happens in 2020 in 2020 for the Bitcoin having year it just kind of did this a little bit little up a little bit of a pullback And then it just starts to do this And back here again May 12th 2020 that was the having then things just start to take off and then we do this and then we start to rally until The Bitcoin bull year and we saw we know what happened there massive pumps Corrections more massive pumps and off we go. So these are the things that I see could it exactly happen like this I'm not for sure, but if it does, I'll be very happy because This is kind of what I expected So the next question then is well, Rob, what are you gonna do specifically? First of all, I can't tell you what to do I'm not a financial advisor obviously, but I'm I Always take a look at these wristbands And of course when the price and what we've talked about before quite a bit actually when the price in these in these wristbands and if you want to find these there's a link in the description It's for Ben's site and the cryptoverse you get 10% off the first month and that's very simple when we see like Usually bitcoins in this range and it's this wristband of 0.3 to 0.4. This is like a specific price that it goes along Then as time goes on Things get heat up and it's a little bit more risky and and going to the right you start to see that the riskier it gets what actually happens is The less maybe I want to buy or if it gets less risky meaning that the price drops then I start to buy a little bit more and so on and so forth and It kind of looks like this if you want to know what it is right now For all the different price points This would be the price points in this specific time range So like the the the most ridiculous over overpriced Bitcoin be eighty three thousand six sixty six and again it goes between zero point nine to one So six nine thousand eighty three is like way overheated. So good luck And we have zero point six Which would be in the thirty seven thousand to zero point seven forty six zero point seven to fifty seven thousand and then This is what we're at right here. We're actually at zero point four seven zero point four seven So right here We're like in this little area in all honesty We've actually done pretty well, and I'm actually on this side of reducing just a little bit of what I actually buy But when it starts to go down, I will increase the amount that I purchased Bitcoin at and If it goes and this is the risk levels I personally think and I've said this before I think it go it could go below 15k and I'll show you why Not that I will be but if as the risk starts to drop the risk points of zero point three to zero point four is Fifteen six one eight to zero point four is twenty one one now. We take a look over here. Oops one one going down Zero point three to zero point two is eleven thousand to fifteen thousand and then absolutely no risk Would be at the eight thousand range, which I don't think we're going to hit that but if we do I'll probably buying a lot more more crypto and The reason why I think that we could drop even more and I've said this before so there's many times in the channel And actually I've shown this on the cycle lows and highs. I actually created this on I started on August night twenty twenty two and the current version is January 2nd twenty twenty three So this isn't it shouldn't be new to you, but this is where I see things potentially going and it could but Who knows if it does or not? So I always take a look at history so from the top of the last cycle or actually of the twenty a 2010 to 2015 cycle From the very top was $1,100 to the very bottom of that cycle was a hundred seventy-two. That's an 85% drop. That's quite a drop From 2013 2015 and the next one Was 2017 we hit a top of 19 six and our bottomed out at three thousand two hundred seventeen on 16th December 2018 left roughly one year later. I was an 84% drop and then In the last cycle 2020 2023 We actually thought remember these days remember these these tweets for people to say this is your last chance to buy Bitcoin below 20k and It's I kept happening and happening, but once we had like 19,000 47 people said this is the bottom I said, I don't think it's the bottom That's only 71% from the peak of 67 1 to 19,000 in actuality The last big dip we had was Wednesday the 9th of November or the price of Bitcoin went around 15,742 And I said look that's still only 77% if we want to get to 85% Again where it was here or here 85% From the top of Bitcoin would be 10k does that mean it's going to 10k nobody's it's anybody's guess It's anybody's guess who knows and that's why I dollar cost average because I'm not for sure exactly how it is and Then just to also take a look at altcoins Ethereum, you know Ethereum What that was, you know Ethereum From its Top of January 2018 to its low a year later. It went from almost $1500 to $83 That's 94% drop and then for here last big drop I should think it was below that it was 79% But if we did a 90% like last time that means there's an Ethereum at 475 and if we did Cardano Cardano in 2018 went from $1.18 to 2 cents And if we do that 98% Because we went tonight 91 Yeah, 91, but if we go to 95% it's only 15 cents for a Cardano So again, who knows where we could go This is just the data that we have and I gotta be honest as I always am I would welcome these days because I was buying a lot of I was dollar cost average and a lot of alts on the way down I'll probably be rewarded in you know 2024 or five or six, but you know that they could drop a little more to me That'd be great and then lastly I mean, I showed you some bad news and stuff like that doom and gloom. It's not that bad. It's not that bad Things could change in a heartbeat. So this was from actually yesterday It was kind of a funny title says crypto prices rally back as SEC said to be ready to green light Ether futures ETFs, which is I guess that's that's great. Sure. I know coin base just got approved for Bitcoin futures on their platform. So great, but it's not the spot So, I mean things could change around in a heartbeat the SEC could come out and say, you know what? We are going to definitely approve this spot ETF and people will go crazy or Gray scale tomorrow not tomorrow and be Saturday gray scale soon could win their Trial their their court case against the SEC and things could just blow up or You know, the money printers could just start going back on because liquidity is what drives the market. So again, I think Anything could really could really happen, but who knows if it's very likely and that's it So that's it for today. Oh, there was last one last thing Just to kind of put it all in the perspective The Bitcoin MVR VC score, so this is what I if you if you want to find a pretty good base of of Bitcoin charts, just go to look into Bitcoin comm and they got a one. It's MV MVR VZ score. It's the The market value the market value versus the realized value and the Z score kind of just takes all the noise And what's that is the market value is the current price of Bitcoin the realized value is It's the realize it takes the price of each Bitcoin when it was last moved And it's a pretty good indicator Honestly, because you can see that once it goes in the green the last time was in this green area was around November December 2022 for a good time to accumulate it was spot-on and then over here When it kind of blew up February March April went around there when it was time to sell And it over back over here in 2017 did a pretty good job in 2013 so on and so forth not perfect over in 2021 but whatever, but you can see that right here. It's Kind of in the lower range, but not in that like perfect sweet spot But if we go down there Again, that would be another place for me to take a look and it go, you know what here's time to accumulate a more That's it for today.  This is just a Friday This is just how crypto goes But for some of you is a big deal, but as you remember, it's not we can't do much to the events that happens We can't change the event only we can change our reaction to the event and I'm here to tell you like in 2017 When I went through it, and then we crash in 2018 We really there was a possibility that you know, this government could step in and really start to crush Not just Bitcoin, but definitely altcoins and could have obliterated them left and right. So it was a lot more risky Now when I look at things and I see that there's you know, there's Congress is talking about it's the President United States has put out two different reports on it, although not positive I must say but we've also got spot ETFs in Amsterdam We've got legislation in Europe and of course in the Asian markets are huge especially in China for some reason They're able to buy a ton of crypto You know they're not supposed to imbiance. I Just see it. I'm like, well, we're not gonna go to zero things are probably pretty well I think it's just a waiting game. That's it for today. So look, thanks so much for stopping by appreciate like today's video Give it a thumbs up consider subscribing. Everything talk about his time sensitive. That's it for today Guys, I appreciate you and now if you want to stick around we'll do a little Q&A I'll answer all your questions.  Thanks for stopping by. All right.  I'm sorry. I lost my job. That's just see these are the things What kind of job was it was it a job you actually liked or was it a job you like to get rid of so hopefully you're able to find a better job Sorry to hear that Jay says there is no value of course. There's no value or anything, right? Future moves got a great question. Hey Rob not mentioning names, but why are there such big differences of opinions in the crypto space and As far as where we're going in the short term, you know, it's a funny thing if you want to see There's one thing that two macro economists can always agree on One thing and that is that the third macro economists doesn't know anything what he's talking about Meaning you're gonna have so many different opinions of people in the space. It doesn't really matter if you want to get a great sense of this Take a look at Dave Lynn David Lynn his channel He hosts a lot of macro economists people in crypto people in traditional finance and like one day He'll have on like Steve Anke Steve Anke's like you know, of course Inflation is over and this is we're not gonna go to recession. It's ridiculous.  This is done the next day Of another equally competent macro economists and goes look Inflation gonna go up to the roof Recessions run in the corner not a recession to deep pressure. It's gonna be awful and it's gonna be the worst thing of all time so It just depends and this is the thing I think this this really gets to the crux of it Which is like I have my opinion of where I think things are going but that doesn't affect my plan and The plan is is just to idola cost average. I dynamic dollar cost average And I just wait things out Like I know people are like well I'm just waiting for this perfect opportunity to to to hit this low point and it could it could happen But what if it doesn't? So like for me, I just played just a little bit in in in between of everything and just go look my ideas I think we're headed for a recession. I truly believe that I also believe we're gonna see some lower prices I truly believe that but it does that mean that I'm going to not dollar cost average along the way and not like Dollar cost average like start selling my house and you know putting everything into it. It's money that I can afford to lose Let's be honest and of course we talk about the rules They are somewhere Right here. There we go that You know, you can only invest when you can afford to lose. That's why I say it's all gone. So like for me, it's It's money I can say that if it goes zero goes zero. I'm okay with that for some people they Get over leverage they put too much in and I think that's where the panic selling comes from like if you are just cutting it close And you you're living paycheck to paycheck you shouldn't be putting in half your paycheck to any investment I don't care what it is Because you need that money and of course if you have credit card debt, you know We're in a trillion almost a trillion dollars of credit card debt and also the as far as like credit card payments the deferments when it's actually People are not paying as it's actually starting to go up So again, if you are in that situation where you shouldn't be doing this too many things I think this is where the panic selling comes from because to me like it just sits there And I know my entire my entire portfolio just went down by like 12% or whatever it was.  I didn't sell it cuz I don't really need it right now. That's it Yeah, you can have an argument or different thing, but stay respectful It's very true very hard to do not so much here. This is like a safe haven. I got a lot of mods Thank you wrenches, but on crypto Twitter watch out Although it's not that bad really if if people are just just jerks to you which people People love to do that If you just Yeah, you don't ever you have to understand some people just fighting their own little battles inside, right? So I don't usually try to get into fights with people because it doesn't do me any good And I got more other things to do, but I always think to myself Well, maybe this guy or gal set a really shitty day and maybe their wife or husband just left So maybe they just lost their dog.  Who knows what it is So just remember that Some people are not having a great day. Oh Yeah, hey John Louise You just finished first basis krypton mark crashes of the bears one. What's your conclusion? The bears my conclusion is again, I think no one ever really wins. Do they and like here's the thing Like you know, it's a it's a funny thing like like we talked about like who's right who's gonna make it I think this is the only space where we can we can complain and argue about you know Are you gonna go up 10x or 100x? That's like the big argument because I mean as long as you don't get into some crazy meme coin, right and YOLO into it I mean you can but not so much. This is one of the few markets where we know it's it's gonna take off We know things are on the upside just the pet the question is when so My conclusion is this the one ever wins. I think the bears Probably in control right now, especially all those liquidations of billion dollars in Longs and for right now they are but it's just a just a cycle like everything else. So yes Yeah, Twitter is X now. I Remember the good old days. I'm just called Twitter That's also true Yeah losing value is fine. I'm losing crypto from voyagers like that voyager One of my greatest regrets in crypto No Yeah, voyager and Celsius both of those It's things it's things to today. It's not so much that I lost money It's just that the people I told about That's they lost money and that was a that was a big as a big blow And it wasn't like and then of course, I mean I found about Celsius the day of put a video out But that's not I mean You can only use so much and since with voyager It was it was a two-week leeway only because they were a publicly traded company and those videos are in the description They're in all my videos, but yeah, it's and of course voyager just settled up we all got 35% woo and And there may be some more money coming out. Maybe we get up to 50% great, but Yeah, that's why like I made the rules That's why I'm kind of staying on the straight and narrow and that's why like even though we lost just a great It is a great lesson. And unfortunately, we're the ones that are going to teach everybody moving forward So it's kind of why I stick around What? Hey, Robin he thoughts an algorithm may give 97% with salt on high as one of the best tech and team Sylvia Macaulay as a Turing award. I know so sad for his project we down here. Yeah, I Kind of think of it like this was in early 2000 2004 2005 I forgot when it was but it was Jeff Bezos and he wrote a letter to all his shareholders Because his because the stock went in the tank And he said it goes, you know, look he goes we have doubled or tripled our capacity for all of our warehouses We have decreased delivery time and we have cut massive billion dollar deals across the board for all the different people and industries that we're bringing into Amazon he goes, so I know what the market says we should be but that's not where we actually are Time will time will show who is the winner. And of course now we are they're like The big one of S&P 500 Yeah And yeah, you know what DJ and Tolman's got a good point nothing not bothered about 12% inflation. We'll take care of these dips Look if we get a Yeah, it's funny I was I read that wrong but if we do get a recession and it comes Recessions don't last forever, you know and if it does happen I mean don't worry about inflation because it'll get crushed fast and then there's no more actually the Fed will pivot and they will Start cutting rates. So again, just move and go Is recession kicking in you be the judge and we talked about this Let me show you Let me show. Yeah Let's go to the macro Look at this. This is a consumer loans credit cards another revolving plans Let me read this out to you Consumer loans refer to loans that are Taking out by individuals for personal use as opposed to business loans credit cards other revolving plans and a type of consumer loans A lot of borrow a certain amount of money and make minimum payments. So we can just see you that you know as we start to hike up and This was back in 07 The consumer loans debt was 334 billion. That's nothing now.   Everything's good and now we're at 1.0s right. Oh, hey, we got over a trillion. Congratulations America. So we're at a trillion dollars in consumer loans debt That's something and then and the reason why there's so much credit debt and loans because people having a hard time paying Their bills sign up in the comment section. That's you and then of course This is right to her credit outstanding. That's the same thing. Oh I know what it was The link to your rate on credit cards So I was trying to say before so the delinquency rate people just can't pay it off We bottom it out in Q3 2021 But you can see that we've been slowly climbing up and the reason is because real wages are not keeping up with inflation So there's a problem there and people can't pay their bills and that's really what it comes down to then of course the CPI the cost of Consumer goods goes up and it's a recipe for disaster as they say Wow You didn't tell us a one single person was 40 plus million along the auditions.  It's because there was a report that The SEC comes out and says yeah, we're going to challenge that and it would became official as they put in the documentation To appeal the decision for the ripple case J2 today says could we be in a recession now? Yes, we could be I Don't know if it's like a bad recession. I mean That may be on the on the horizon, but who knows maybe this is maybe it is a soft landing. Maybe the Fed's right I don't know so Filippo says what if the Fed will roll out the new CVDC and ban crypto. So here's the thing like This is just it the government that's in power right now Democrats, let's just call it what it is most of them not all But Joe Biden and his administration they do not like Bitcoin for the energy consumption. You have look no further Then Elizabeth Warren And look no further than a prominent Democrat in the SEC, which would be Gary Gensler So they do not like crypto whatsoever however on the flip side I'm not saying all Republicans do but it seems like more Republicans seem to like Bitcoin and crypto and you'll have Ted Cruz from from Texas and Cynthia Lummis Yeah, I miss Tom Emmer Warren Davidson and A host of others and they are a little bit more Pro Bitcoin. I do not expect Democrats to remain in power in Congress And for the presidency who knows I don't know two things I don't like to talk about religion and politics But unfortunately get overlapped here So for them to rule out a CBDC and then for them to ban Bitcoin first of all, you can't really ban bit you can ban ex you really can't even ban exchanges. I Mean you could try and in the federal level, but then it's up to the state It's almost like here in the United States as far as marijuana in certain states it is legal, but on the federal level it is illegal and That's why that most of the or all of the people that sell cannabis in America They can't use banks because it is listed as a whatever classified Narconic that marijuana is which seems ridiculous So for them to roll it out and say this is what we do sure and then of course There's a debate about if state-by-state they can ban the CBDCs I know Rhonda Santis from Florida has already done it. I think Ted Cruz has already said that and I think The mayor of Florida also as well So good luck and then just because they've been here doesn't mean they can ban it everywhere.  So Good luck. I don't think it's gonna happen some days So that's the question will we see in a big dump again tonight? I sure hope so And I'm not gonna be one of those guys that like really cheers it on like oh I can't wait for these done It's like it hurts me to like when I see them like that sucks, you know But you just got to look at and go well, this is to be expected and this is what it is and And all honest if you keep saying that all honesty thing I got to stop that if you just turn off your portfolio till 2024 and It's in a cold storage of ice big. That's that's one of the caveats not in a Exchange you probably be just fine. Honestly, I mean gosh if I would have done that well I mean it worked out for me pretty well in 2021 one of the bull market came back But I mean I was buying Cardano at, you know, three five seven cents. I remember those days. That was great I'm I was buying a theorem around 120 bucks and Bitcoin at 8,000 5,000 somewhere on there So like as far as like we see another dip tonight I don't want to say when we will or we won't I just I'd know over the next Intel with 2024 it's gonna be very rocky Even Q1 is gonna be rocky and I think even even when we get to the Bitcoin having and past it I don't think it's we're gonna see much of anything until going into like Q3 and a Q2 in the Q3 and Q4 2024 and that's where I think all the fun happens This is just you being a blue-collar worker Picking up your lunchbox trudging to work doing your job and going home That's essentially what what investing is feels like right now get up Take a look hit the pie. Don't sell Daggle and that's it. Are you just dollar-cost average and just leave it up to a coin base to execute Now meme says Sunday is the most volatile. That is true lazy Sundays How many steps have you walked today? It's a good question. Let's take a look at sweat coin. I have walked 7,862 steps not bad. I don't like I don't like Biden's energy consumption. Good point Let's see here What do you think about spearhead stressing a ate a charity for firing something that's a great idea We should do that It's a good idea Here's the thing Ryan everybody else out there, I don't trust a lot of charities So if you give me a favor on Twitter, hold on. Let's just do this right now Follow me. Follow me. Geez Louise. If I could spell post What is a reputable charity organization that donate 95% plus of the proceeds to victims of Why we'll donate the entire month of Cardano from the new state pool and people of Cardano What's the term proceeds proceeds and everyone so if you guys could answer that that'd be fantastic I will put the tweet in the description. Ah great great idea All right Anybody else can stick the moon boy mouth open thumbnails the moon boy mouth open thumbnails have been around since I was got into crypto It's never going away It's always the it's gonna crash or it's gonna go to the moon I don't know why they like I don't even know if the algorithm really looks at that and goes Oh, that's somebody I need to give the traffic to I don't I don't know if that's even true Yeah, mr. Livecrush does it RFK juniors a democrat is when that's what I'm saying. I said not all Democrats, but most of the big problem with them It's great. Matthew Moses. Why would we see a dump? There was an excuse market makers liquidated longs And the money's around 35 36k I'll tell you what the reason is Why would we see a dump tonight? It just could be just it could just be jitters People just looking at and going you know what and then we talked about it ever grand I call it ever grande people correct me, but they were right ever grand big real estate company in China which just Filed for bankruptcy. That's going to hit global implications as it ripples throughout the world And it's not just them It's different parts of China that have a lot of businesses that are going under right now. So There is that aspect and then there's the aspect of you know, the recession talk Sometimes it's most of the market I'm gonna say all that most the market is just a lot of emotion and when we talk about these things It seems to manifest itself, which is why like I don't get If you could hear my internal dialogue of my bearishness you would not listen to my videos I do tone it down for everybody. So I think that when we have a couple of those things And then we have the uncertainty of a presidential election coming up And the other thing is that this we're talking about like coming into the the near term The markets don't like Unpredictability and that's very unpredictable. So We'll see what happens in the near term Just jitters but right now But just like how we saw in in the charts or in the in the graphs that we saw like Let me see here I mean you could just chop sideways for quite a bit like we did here 27 27 26 27 27 27 27 27 Dan there 25 And everything's good It's like it just starts over again, you know So slowly then suddenly Or I think it's gradually then suddenly I just forget the term Dump ready Sure Didn't nice part have some kind of uh partnership come out. That's so it was pretty big not for sure RFK jr. I like that guy, but we all've got flaws, right? There's no perfect candidate It's not exits it is x not twitter. That's right Need charity stake pools Ah, we're good. Richie How does this portfolio look bitcoin eath link xrp ada salamatic and doge? That's looks like my portfolio. Honestly, that's her peers for presidents Talk about her coming in Humans look and click Exactly like taco grande Yeah, it's kind of a boring market. It's right now. I mean it's kind of was kind of exciting yesterday and right now Yeah, it's just it evergrounds bankruptcy was expected for two years. That's just it These things are expected and expecting people like it's priced in it's priced in and then what it actually happens Things blow up now. Is that the only reason why we had a dip yesterday? Probably not I think it can it played a little bit of a part. Maybe not everybody was expecting it I remember that story two years ago And we were talking about and we and we said I remember when we talked about the show act on evergrande it was it was me, george and James when we had the original dca show And we were talking about that and george said it doesn't matter because china is just going to keep printing more You on Or memby or whatever it is And he said they'll just print it out and even it goes broke They'll bail them out too big to fail and we're like, yeah, maybe so and if you take a look at Money printing in uh, let's see So they can pull it up Yeah, if you take a look at the You can't see it The mc money supply is just like ours. It just goes up from the right. They just keep printing. So yeah Oh good point. It's good Is it a good idea to update the ledger nano x to 2.2.2 because there's also negative information So remember this whole thing that came about with Ledger which look what I got in the mail yesterday Tangem This is I think the future three cards There's no Writing down mnemonic phrases losing it But there's three cards. So if you lose the first card, well, you got a second one And if you lose a second one, we got a third one if you lose a third one, you got problems First of all, like a big problem is why you keep losing all these cards And that's all you really need you need this and an app on your phone Which has a face recognition and also A passcode and you store it's air gapped and the chip right here Is it made in Switzerland? I believe and I'll be doing a A deep dive on and now back to your question ledger nano x So there was a big and and I had the cto. I've read his name I'm glad the gentleman's name, but I had him on here and we talked about 20 minutes You can I'll take a look if I can find the the video The big thing was like if we update it Are you going to ram it down our throats that you're going to keep our keys in In a centralized entity such as yourself and the two other companies So there'd be three companies that would share Your your private key and if you lose it then we can get it back. He's like no The only way we do that is if you pay us to do that We're not going to do extra work To keep your key if you don't pay us that's essentially what it came down to So he goes look he goes we're not going to do it And if the update one of the update the updates just fine. I updated That's it having said that I'm still diversifying diversifying on my cold storage devices. I get a little paranoid, right? So I got a ledger. I got an ellipal and now I got this cool tangent slick So, uh, yeah, that's it. So yeah, if you want to pay ten dollars Then they will back up your your seed phrase and go from there. I think for the normies might do pretty well Not for sure, but uh, I've updated and it's up to you I'm bearish on diane feinstein She does not look too healthy Still hold them Okay, meme. Who is it if you could meme put that in the in the in the tweet, please so I can remember it It's a good question Robby thing institutional crypto adoption will drain volatility from the markets It's something I fear will happen. No, I think Bitcoin itself is still in the hands of the majority, which is us And micro strategy apparently Uh, I think there's still going to be a little bit of volatility So where they can shake out those people and they can sell their bitcoin and not there's anything wrong with that Remember in the white paper if you read the white paper from satoshi 2008 it says very clearly. It's not a store of value There's nothing to do with that. It's for peer-to-peer transactions And that's all it goes over. I think it's like a nine page report. It's very simple to read It has nothing to do with with what a lot of the maximalists are talking about now And that's fine. They can make it into whatever they want to but i'm just saying that Bitcoin itself It works out really well if you're michael sailor and micro strategy because essentially you are an etf By you taking in all that bitcoin And people buying the stock that is micro strategy. Essentially, they are investing in bitcoin I don't know if they're really investing into micro strategy, even though I hear it's a fine company Black rocks been investing in them forever. It's the truth But at some point maybe you want to exchange that for something else Are you gonna some people say no, I'm gonna hold it forever. I'm like, I don't know if that's a good idea It's not a good idea for me at some point. I'd like to sell it and Do other things with it. Whatever that is.  Maybe you don't want to work. Whatever it is It's not just there to be looked at like golem as he looks at that at the ring and says my precious See what was to use it That's how I see it Tesla uses child labor for cobalt. I don't know if they use child labor or if they Cobalt itself is all child labor. That's the truth. It was a great show on jill rogan one time about that Torrible situations We should all be thankful when we think that we have a bad day. We haven't had a bad day. Oh, yeah I remember that ledger stacks that was supposed to be out like a long time ago The shallon says the fact that you can't see the 20 of words in tangent bothers me See this see shallon. This is not for you for me though Ah, look if it's if it's air gapped And I don't have to loot and I don't have to write it down on a piece of paper And let's be honest Damn it. I keep saying that let's be fair The uh to use an analyzer have you tried to explain that to people?  Well, I just scan apparently this takes like three minutes. You scan it. You download the app. You scan it and you're ready to go That's it I'll take that and as I understand it the The chip security is higher level than uh analyzer I'll I'll find out in the deep dive We need clown news. It's a good idea. I should do that especially now There's two questions Uh You can actually if you have a I don't know if iPhone used to have a thumbprint thing, but I don't know if they have it anymore Abbey says uh, Rob, what's your favorite l2 project as an investment? There's a good point About the different crypto products that are that that made massive runs in the last cycle It was because those products didn't have so many Bag holders and one of the biggest examples that you can find was Solana I think Solana came out in 2020 not mistaken And it's just skyrocketed from nothing to $212. Now it's down to 20 bucks And of course once you once you have that remember that every new project that comes out You're going to have some kind of vc backing Not all but a lot and of course there's unlocks. There's cliffs So after like 12 months then things unlock and people dump and some people some people save it Any other point was is that the the products that don't have so many bag holders Usually do pretty well during that cycle and they kind of fade away or they fade out a little bit Make room for the next big shiny objects that are coming through So like the l2 is that I look at that I think are really interesting arbitram and optimism Unfortunately with base the one from coinbase you can't invest into that. That's their own thing They're not going to have a token for that. That's their own individual part, which I just saw a report that they just took over the base took over for arbitram and optimism combined for the transactions They're doing their own thing there as far as like a market cap arbitram and optimistically pretty well Those ones just came out looking pretty good. And of course, you know polygon looks pretty pretty straight, but There's something going on with polygon There's something going on with polygon And I'll show you what it is So this is a website whoops, let me show you This is a website called cryptoslam.io It took it out That's crazy. Oh, no, there it is. Okay. Okay. I was like, what the heck? Okay So just by nft sales volume, you can see that ethereum is number one 10.8 million, but the wash 4.5 people just trading are buying selling really quickly, right at 30 percent 29.78 percent because it's the largest Solana it's only have 0.49 percent mythos on what that is 0.24 polygon 32.3 so pretty high in the wash trading volume And you come down here arbitram 0.73 avalanche 0.89 people aren't but of course, there's not as much right there That's in 24 hours 30 days. Let's see We'll say seven days Yeah, unless we do any people on it, but I know the numbers are much higher I think at one point I saw like over 50 percent for wash trading So like we're looking at transactions that plays in those transactions And I like polygon and what they're doing what they're working with but sometimes it just makes me wonder on some thing. That's all I still have it. I still dollar cost average. I think I'll still do quite well, but We'll see Jeff's we expect another drop in bitcoin tonight. Maybe anybody's guess I think in the September we're going to see some more drops again. September is the worst month Statistically historically by far Yeah, ryan texas. Bitcoin has to get to beat in 13 years. That's the truth Solana looks legit. Solana does look pretty good Got a bad rap with ftx and those things I buy it Well, I said I put it I took a big void. You're putting me good mad at great stuff Oh nice Wash trading polygon 2.0. Yeah, we'll see all right, buddy coming up on an hour and that's it for today So look like today's video thumbs up consider subscribing I usually don't do these live streams. I thought it was important these last two days But probably go back to just regular videos. Oh Until sunday when we do this again That's it for today. Thanks so much everybody. I appreciate it and I'll see you on the next one. Adios