Latest / Rise Up Media / #305 – The First Time We Heard 'Bitcoin' + Elliot Wave TA – The Rise Up Morning Show – May 3, 2025

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#305 – The First Time We Heard 'Bitcoin' + Elliot Wave TA – The Rise Up Morning Show – May 3, 2025 · Rise Up Media

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  good now revolutionaries and welcome to the rise up morning show rise up morning show that's no stream yard speaker test but it's also nothing like a Keith I had an original so no mug for will Alex's mug will's mug in the mail your mug possibly in the mail I have seen a lot of little pain from print full saying your mug is on the way your mug is on the way and also your USDC to two dollars shirts should be on the way for the folks who ordered him I'm excited to see those out you know this chest to read USDC to two dollars but right now it just says get it right now just says get it get it I was doing this in backstage alone before Evan hopped on and I was like hey what's up man how's it going he's like what were you doing and I was like you're just like I'll just see myself out feeling don't worry I'm taking a private moment it was it certainly was you got to be careful whenever you leave will alone for eight seconds or longer no that's actually very true I get bored incredibly quickly and then I become lonely and sad and then I just fill time with chaos if you are trying to fill the time with chaos you're scrolling through your swiping through or you are picking us up on demand we're so glad that you're listening and if you're listening in the future we hope your candles are green speaking of green candles we got a lot to talk about there are ups there are downs we want to make the macro picture meaningful to you will say he wanted to do a little revisitation of our friend Bitcoin on the charts and I thought it'd be fun to start with what we were talking about backstage just to get people warmed up and to say if you've got a crypto question suggesting good joke where to wisdom you know the drill leave it in the comments let us know what you're thinking and we'll do our best to help before we write our dogs and ponies into the sunset for the weekend the question was have you ever looked back at the Bitcoin chart just the whole long thing and thought to yourself you know I was doing this when it was this price or I was doing this when it was this price or oh yeah I hadn't heard about it yet and will yeah you were saying you heard about it for the first time when you were finishing it was it was finishing it so I graduated high school in 2011 and this was like my sophomore year so this was like 2010 had to be at the earliest right this 2010 or so and I remember hearing about it on the radio on my way to school which is just on the road for me and I was like digitizing money I think it was I think it was something was going on about silk road I think that's why it was in the news people like Bitcoin is digital money and I just remember thinking I remember this literal thought oh they're digitizing money all that makes sense that's probably gonna be something worry-murray actual literal thoughts to myself and then I just stopped thinking and I just look back at that I'm like you were like one step away from being so rich you were just one step away from being an early Bitcoin buyer and uh god I just hey I was a kid I was thinking about just going to school and doing football practice and trying to talk to girls without my my my my my pits sweatin through my shirt right no no will your loser your loser you should have bought and so should I man I was just like you I heard about it in 2011 I heard about it in a research presentation on blockchain cryptocurrency and the guy was like and you know I've been testing it out I bought a little bit of Bitcoin I got$25 worth he bought it peer-to-peer I don't know what website he bought it on at that time you really couldn't buy it on made there weren't major exchanges like what was you know was gonna become an exchange was there a little bit but mostly you had to find somebody online who could sell it to you and I was like huh if it ever becomes a thing I guess I'll pay attention to it then I had no idea I had no idea and so I thought it was big by the top dammit you know and I even think about when it was uh flirting with that $10,000 mark like in a meaningful way for several years and how much more aggressively I wish I had been accumulating I was much more gainfully employed years ago and had a lot more disposable income you know I'm glad to say my first size of Bitcoin or in the or just below 7,000 my first buys I think I bought as it was climbing yeah I really really I don't know that I've ever bought Bitcoin for less than I don't know like I think 3,000 is probably the lowest I bought it oh I'm ever seeing it at 6,000 were held there in that bear market period before it absolutely collapsed again and then we're buying it 6,000 and it collapsed the 3,000 I was just like super scared and I was like damn you damn you will yeah Alex what about you do you have any notable moments in your life where you're like ah yes I was deploying and this was happened or Christina said this that day and Bitcoin was or no no bit memory I had I had heard about it but I never really spent any time thinking about it I was like specifically not thinking about money and investing and all that sort of stuff the the story I think if my mom can confirm at some point in the past my dad was like hey this is cool and everyone is like quiet and he's like all right and you know a couple hundred bucks or something the first time I specifically looked at it with the like desire to invest it was two thousand dollars this is in I think 2016 and I was just like oh well I don't have two thousand dollars to invest I can't I can't buy any of this because I would have only done stocks before you couldn't fractionalize stocks at that point so had to buy a whole one I was like well I can't do that but of course the silver lining of that story is that ETH was like 80 bucks and I did buy it then because you could buy I could buy multiple ETH so I bought a little handful of those and 87 dollars so ETH was the first but I do remember looking at Bitcoin at 2,000 thinking much too expensive for me yeah yeah we all start because all the part of the beginning journey of our Bitcoin knowledge yeah totally I love that my intro was buying ETH at 87 dollars and I like diamond handed that and I if I eventually ended up selling that one for I think when it first went over a thousand was the first time I took profits on it so that was cool but the everything else that I did encrypt up for the next two or three years was just like buying tops and round tripping everything yeah yeah they shipped crypto got you good by being like hey you buddy you're really good at this anyway you know that extra money you have stepped on the side how about you put the rest of that in that was that that was so good at this yeah I bought you for God of existed it did a 10X I was like I'm a genius buy everything lose all my money been there classic cycle yeah and and you break your way out of that by finding a community like this and learning and educating yourself and it's all about getting better that's exactly right we were not bullish on Bitcoin early enough we were too bullish on everything else afterwards and now we're somewhere in the middle and we're so glad to be here with you so well now that we've gone on a whole Bitcoin journey maybe it's a good time for us to revisit our friend Bitcoin or do you want to give the context of this macro moment because without you you actually we did pretty good job I'll say talking about GDP the context around it but you were sorely missed yeah well I'm kind of if I was there I may have been able to have been to have been stopped with my incorrect reporting on inflation at first yesterday which I corrected at night but still I was like I knew it when I went back on tech tech I was like man that incorrect video is gonna have a lot of views and it was like have up 29,000 views and it's like son of a always right say one thing you got you got this wrong you got this wrong you got this wrong and I was like I know delete I was like I would and of course it happened on a day where I was busy from 8 a.m. until 10 30 p.m. yeah and I was just like wonderful anyway so for those of you who may have not been paying attention or for those of you who are want a little bit of nuance added on top of this macro news we got three really important bits of data yesterday and that has to do with the US economy it had to do with inflation and it had to do with the US labor market so the US job market now GDP is a measurement of US economic growth there's some nuance in there though because what makes up GDP is an equation and in that equation is also is several things added up together and one of them are exports minus imports so this is getting into the weeds a little bit but just want you guys to know when you look at GDP it's made up of a bunch of stuff and when anything is affected in that equation maybe it's an accurate telling of the economy maybe it's not but GDP is kind of the best tool we have and the one reason why I say like hey Mike you could dig a little deeper into that is because one of the things that's added is exports minus imports and what's been heavily affected is what we have been importing and exporting recently ahead of the beginning of the tariff strategy so we've seen a huge amount of imports record levels of imports in the first quarter and again that's exports minus imports is one piece so the US economy is shrinking according to US GDP but it might not actually be shrinking right now okay because there is a very very big data irregularity in what makes up GDP okay so take that go research that on your own right I'm not gonna get into that right now but hopefully that gets you a little bit of interest to start diving into okay what what all goes into GDP okay check that check that out so anyway GDP data came in week labor market came in super weak for the month of March it was expected that 114,000 jobs are gonna be added and only 65,000 jobs are gonna be added and there is a revision for the month of February of 155,000 jobs down to like 144,000 so a really bad showing the US jobs market in the month of March and a little bit worse for February okay now a weakening economy and a weakening labor market are two things that are bad for the economy but the economy and asset markets are different things yeah and with asset markets we really want rate cuts from Jerome Powell okay and if things are getting worse economically that incentivizes the Fed to come in and actually start to provide relief to the market like cutting rates and doing something called quantitative easing where they actually push money directly into the market usually the bonds market that's how that works but if inflation is remaining sticky the Fed's in the worst case scenario where they're like I can't print money right now because it's gonna make inflation worse which is gonna make a labor market worse however inflation data came in better than the month prior it didn't beat expectations but PCE inflation came in at 2.3% expectations were 2.2% but the previous month it was at 2.6% so this is a pretty damn good cooling of inflation the Fed wants to see inflation at 2% that's pretty close but the Fed actually looks at something that's an extra layer underneath something called core PCE inflation which is the measurement of inflation removing food and energy which are very very very volatile assets to try to help the Fed understand what's really going on in the market outside of these volatile assets and that inflation came in at 2.6% that met expectations of 2.6% and it beat the previous month of 2.8% so we're not at the Fed's 2% target but we are getting there as of right now we've seen inflation cooling really over the past two months so in recap inflation is cooling US economy is I'm gonna air quote this shrinking okay and also the labor market is weakening this is the exact type of scenario that we need to see the Fed come in and cut rates the Fed has their next meeting in May I think that's far too soon to expect rain cuts but afterwards in the month because Jerome Powell and the Fed they are a data driven organization just because they get one or two data points that they say hey we can do this now it's not enough for them yeah that's gonna be my question is historically they're slower to move right it depends on who is leading the Fed in charge you know and also the Fed has an algorithm that's helping them make decisions they have some really nice piece of AI that's helping them really kind of guide the economy right now for sure so Jerome Powell and the AI overlord behind the shadows chat GPT please say your please and thank you to chat GPT and Grock and everybody all the other stuff you use guys because they will take over the world one day don't be on that naughty list or do or do you know whatever you know it'll be a quick it'll be a quick dish they need to eat somebody they do need to eat somebody and why do they always consume human flesh why is that always their fuel source it always it always but anyway to finish this up I would expect in June actually potentially getting why do they always eat human flesh anyway back to the economy anyway back to the economy these thoughts are very close to one another the the border between them is hazy at best you know and then you know so we are getting closer to rate cuts which is something that markets really really want so from a macro standpoint we're creating a scenario where hey maybe the stock market maybe but I think Bitcoin has potentially a better chance of actually setting in some higher lows on the chart when we do get an eventual correction because we really want to see rate cuts rate cuts happening again they already started by the way they started last year there were two rate cuts three yeah two regard regardless they were two risk on assets do really well in quantitative easing scenarios and Bitcoin even though it is a store of value in our eyes to a lot of people majority of the world it is still a new thing that's kind of scary and risky right so a lot of people think of it as a risk on asset and if there's more money floating around they feel better in going into risk on assets got it beautiful I want to bring in one of the only people I think could go toe-to-toe in a macro conversation on a take talk live with Will and that is of course our friend mr. Doug E fresh Doug welcome to the show I want to give you a second to collect your thoughts and respond to what William has said but first I just want to quickly say if you're watching on YouTube take talk Facebook or Twitter and you can't see Doug you got to know that he's joining us from his office and Doug in your office there is now competition for the title of king on the throne and I just had to share this with you really quickly in case you missed it last night we had gpt uh roast our selfies and this was the selfie that will submit it which I did not realize until the end looks like it came from your office oh yeah there it is oh we need we need Doug out of you know I got you I got you I got you I'm always rugged you Doug give it again the real that that that's that's that's amazing that's amazing that's that's spot on yeah you're welcome anyway Doug uh I didn't mean to rug you too much we hope you're doing well and I want you to feel free to jump right in because I like I say I know you're the the man with the plan who can let Alex and I take a break while you and dad here talk about what the economy said are you the are you the crypto daddy well technically our dad I think probably but the crypto dad and I'm the it's like the macro daddy I'm the stock market dad I suppose way less cool um first and foremost we just mentioned that chatsy bt I saw someone tweet last night on ask chatsy bt what it's create an image of for self-based interaction deep had with it and I've seen some wild so be careful cautious if you do that you're gonna see something that comes back you may not like but uh it's super interesting separately um everything will set I agree with I mean that's like that nothing I would think otherwise it's just it's it's it's an accurate reflection of what's going on I just I just I still have a a macro bearish in general overall and this is this is the left crypto everything's strong cannot deny like it's insane like it's a the the the some these monthly charts are stupid uh it is what it is like I like but like it's it's hard for me is in the first time that I'm involved in my professional world where we're planning for like the worst like for do we're making adjustments and they're doing you know i've got reductions they're they're basically pulling back on all investments like they're it's it's it's so seeing with the from my like peers within the industry standpoint is very different than with the chart show and then also to other like the trucking industry is getting rush I'm following the trucking logistics docs right now like they're they're all pulling guidance so they're they it's a it's a disconnect of what maybe the thought of reality is going to be at some point versus what right now the chart you're showing at some point they're going to align they have to because that would make sense doesn't mean that we can't keep pumping right now but I'm still extremely cautious and it is a very very unique time and there's what it is oh well lastly McDonald's and Chipotle first uh same store sales are up quarter since like COVID so it's things like that so things like that are also the consumer that if we do and you know if we go to recession to me it's gonna be a hundred percent led by consumers it's gonna be a consumer led recession just because of the fear part of the equation the pulling back of spending that the consumer looks very strong at the moment based on the the day that came back yesterday but they say so there's still some underlying piece of there that we have to dissect as the month's going forward so yeah but I agree everything will said yeah and uh so if those of you who don't know I'm also a consultant in sales rep for IT organizations across the supply chain 50 so the top 50 larger supply chain organizations in America therefore most of the world and uh they have all been firing people across their corporate and across their floors uh my company who obviously is reliant upon demand from these supply chain organizations also went even though we're a tech company we went through layoffs like a surprise layoff like 1600 people got fired uh we we have tens of thousands of employees but 1600 people got fired last week and they were like hey guys you may have heard about people being fired meanwhile I was too busy with my clients and I was like oh what people are fired oh that's why they're not responding to my email and now I have to go and like find all these new people who still weren't fired but they're sometimes my company was like we are not going to be letting any more people go and I was just like everyone run they're firing more people yeah so that's the same story yeah yeah that's what's going to go up and last thing I'll tell you what there was an I think I'm gonna share it in your guys discourse a report from Apollo management very really nice graphics covering just all like the components of even like things like Las Vegas uh hotel room stays uh random things that leading indicators of contraction and but the one thing I've been focused on is new orders or enterprise and also to cap expending plans so a lot of the cap expending plans are going down so companies aren't investing in stuff and not buying that's that's you know ties into a well I would just say in general too on the wanting to pull back the growth mindset in more of a protection hey let's let's make sure we don't we we are retaining our customers or I'll lose our customers are in this and and that's it just get through the storm so you did shake Doug and I've got it up on the screen share but I will direct people who are curious to see it to the discord server Apollo Academy that's new to me but this looks like a really great pitch it's a it's Apollo uh global management it's one of the bigger um firms out there I just like the watch I like it because taking economic data and it's putting it to a consistent format almost like if you had a Bloomberg terminal which I didn't go wish I could afford but you'd see all the same chart formats with with with real data and it's a nice clean walk so yeah yeah it's super clean it's just slides of charts yep interesting metrics CEO confidence go ahead will oh no it's just uh there was a comment here I wanted to address about team moves it was uh oh yeah it was from musadang because the team of situations interesting it was like the the comment here is Trump exposed the biggest China scam team who I don't know what you would to mean by scam but what what happened is that team and guys correct me if I'm wrong here but team who very very very popular site almost like an Amazon type thing we could go and purchase really really really dirt cheap stuff like right I'm like a Chinese Amazon and then get it delivered essentially it's hard to think about it yeah and there was a uh tax incentive in place for a long time where it was goods under I think it was a hundred and fifty dollars or two hundred I forget what that was a cat well little little little more than that there was a little more was 800 that's what that's the number I thought it was a hundred bucks yeah it was a hundred bucks you're right so if so any orders below eight hundred dollars where taxes is exempt which is why you were able to order things so very very cheaply and but now with the tariffs and also on top of that um Trump also removed or didn't renew uh that tax exemption so now the taxes being put on top of those orders plus the hundred and forty five percent tariff so now when you go on team it's like here's your order and then at the end it's like extra taxes and it's like oh here's this thing you're buying for fifteen bucks and that's like one hundred and sixty five dollars and you're like oh so go on to like it's kind of crazy to see I thought that was a really interesting way to educate consumers and also be like by the way guys this is a charge that you're paying us at checkout but really is not coming from us I thought it was really interesting positioning and I'm curious to see how people will respond and if it'll affect like sentiment shifts in the direction of Donald Trump yeah and that's what Jeff that and that's what Amazon tried to do too they wanted to have an addition of like extra import tax or whatever added onto your Amazon so that you know that it's you know not Amazon price-catching units and effective the tariffs right so people are aware of that and providing the information to the consumer and then you know Trump didn't like that and then they said that Amazon is and maybe they are I don't know but they gave a I think a billion dollars to the Trump administration called them a political opponents or like a political puppet or something of China I figure what the exact term was and then Jeff Bezos was like fine we won't do this so now you'll just see higher prices on Amazon without an explanation but you know what it is it's tariffs we all know yeah I'm not sure where the scam idea came from and I'm not sure where the scam idea is in too much of like statementing and posturing and team China direct sales to consumer undercutting American companies but the American companies are also buying the same products and trying to begin with by the way quick side I just saw this on this topic that's called capitalism that's called capitalism and free market yeah so on that note I saw something interesting what was that talking about I win the whole China supplied hot kind of sort of booming where they were showing side of factories which by the way some these factories are like insane like just like wild I saw a piece someone put out on just the the perception of China having you know crappy goods and this and the reason that that guy bigger was because back in before covid was basically all the bro's doing drop shipping stuff I'm like trying to find the cheapest thing possible that I could find to then scale and send it in sales much possible with that difference like oh this is garbage came from China but at the same time trying to make it all the things that are using right now like so it's like it's just the perception of it and put to your point out all of the capitalism bucket does it and that's that's there so it really it's it's it's uh you gotta be aware of the the what segment and what what what area you're talking about and kind of where that comes in the flight but you know on a similar note uh I went to China in 2012 and one of the things I was able to do was I was able to tour a steel manufacturing facility and the area that they had to manufacture steel and other raw products was the size of the island of Macau wow yeah I was the it's the size of the entire island of Macau and I was like wait excuse me they're like yeah you can walk through this plant for a long time that's like apparently yeah geez my god you could live here you can have an economy here literally we do there's a few things that the size of which just blow your mind like the Pacific garbage patch oh yeah that's nuts oh yeah and you're smaller but still massive like the actual size of Alaska if you're hovering in a helicopter over that thing like low you cannot see the edges it's yeah as far as the I can see in all directions and to be fair the Pacific garbage patch is bigger than Macau which is like you know 12 square miles which is not an insignificant size for a factory but it really puts things in the perspective the Pacific garbage patch is 620,000 square miles approximately twice the size of Texas three times the size of France this is an estimate yeah so it's not so it's you know yeah we also have a lot of big-sure garbage patch for it's having big-sure there's more than one though that's not the only one quick programming note initial jobbles came just came out well I'm sure you're probably looking forward to that and I probably distracted you but they came out later than forecasted they're like I think a lot of these are nothing burgers too at the point or it's almost like the economic indicators are less relevant depending on what it is so I'm just gonna say I wasn't paying attention to this one because I was just like not I don't think it's gonna move markets in either direction yeah tomorrow these things yeah my question for you guys on both of the both of these bigger points you know jobless job growth and GDP isn't it like it feels weird to have not forecasted because it seems like to the layperson that I am the most obvious outcome of pushing like more investment from other countries out and like cutting down incoming US trade and whatnot and then also making a significant dent in the labor force by either deportation or fear of it seems like it would be the obvious outcome for both of those endeavors that those numbers would shrink am I wrong so you're not wrong I don't know when they actually do update forecasts so I don't know like if they have like I'm sure that I'm thinking they have I don't know do they have to get point out no ideas forecast going out I don't this by the way I'm on this Fed check right now where I'm learning like so much about the Fed and I'm telling my girlfriend she's like because I'm just so intrigued I learned about high school a little bit maybe in college I'm like oh there's 12 districts I'm like they have all different they track different data points and I'm so intrigued by it and then she's like we should teach us in high school more I'm like is Binance stuff regardless like it's it's it's very intriguing to see the history of the Fed how it comes to play now each one of those components are there and no no no tools one class in your sophomore year to balance checkbook that's all the financial education I don't even have that I don't know that either I don't know you got that my job you were so far ahead I had two classes and one of them was amazing and I wish it had been like a longer thing because they basically were just like hey here's a thing cook off it was this practice where we we paper traded stocks for like a chunk of time and like they made you like pick some stuff and this I was in high school in 2008 so I was in it was this was in 2008 when we were doing this and I just remember talking to my dad about it being like I don't know what to do like everything is terrible and he was like well you should you should get stock in the things that people get when they're happy or sad and so I bought like an hyzer bush and moral borough and I did rather than I did quite well yeah two a bit of head for a matter of years ago you said by the things you use and this is when in general and this is like this is like 15 years ago I was like that's it since it's all over complicated but I'm looking here to the forecast for just like jubbles claims it does they have a forecast for may or for June at least for the next month wait maybe not so I'm curious of when they make this adjustments out to your point because obviously there will be anticipation of that happening especially from the fed side of the equation but in general we're seeing these things as well and I'll end with this is that I'm so intrigued now like the fed GDP now tracker which I'm like oh people trying to predict GDP now it was off a lot the past one from what it from historically they've been pretty spot on from thinking I'm like hey are there better methods to take the existing approach and swap out maybe components of that formula with newer data points let's just say hey could I use housing data from Airbnb they published data or from a shipping side of the equation forget the the the new worshiping company that an awesome data points and they kind of swap it in and they're taking the best of both worlds could that give you a better gauge of prediction of kind of where things go so this is in the new project that I'm working on side because I'm just curious to see if that's possibility. Mm-hmm. Yeah nice. Anyway you don't have enough projects huh? No no I'm interested in everything it's the worst. Yeah. I get it.
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  Nice. Well listen thank you for for making time to appear and join us if you've got time I know will said he wanted to revisit technical analysis on Bitcoin but if you don't have time I at least want you to see this comment our friend Palmer on YouTube who can't see your video came over to take talk when I said this is where you were in his first comment was is Doug in a bathroom that's the same tile I have and I said yes Palmer I said every time he joins me joke he's in the bathroom that's why I said that picture of Wilhelm earlier came from Doug's office so I yeah you can never change that you've got to get the air dryer for the wall. I'm actually I was actually looking at those I'm not gonna lie like I was when I went out of Saturday night I saw that picture got to say to you guys there was there I'm like this it'd be perfect it was it was good it was the depth was good because I'm much depth here so the depth was good I didn't like the style so we're still shopping well I like it's good that you've taken measurements. Well and I do I do want people to know that you have not clearly told GPT what your background looks like because when you ask GPT to make a picture of you this is what it did I just wanted to share with the audience so they could see you can find Doug on Twitter at trend drift and the price is on the can man 99 cents baby so I don't know how it knows I've appeared it's pretty it's kind of accurate though like the brown eyes I know the panty guys just a card catalog I was trying to find a web through a glossary that does a card catalog components that's there and the be kind be curious price the can obvious like why not but yeah so it's been super oh actually sent that to my the telegram group of the 99 cents community it's someone there said to me I said this exact thing to my kids for the before they go school it's like be kind and be curious I like that's awesome so yeah that's gonna be my my sign off because you guys got a really cool one so let's me mine going forward and try that we definitely have one but thank you for saying it's really cool I think that's the right sign off man you got you got you got you're good anyway but appreciate you guys hope you've a good weekend we'll talk out before then but I do have the job so I gotta prepare this call in nine then up third four so hey let's like same with me go get prepared and thank you for making time to join us on the show we'll see you later ladies and gentlemen take care bye hi brother peace I have to have to say when I saw the the prices on the can the first thing I thought was the prices on the can not talking about 99 cents but just the fact that he's talking about prices from the can this is a gross misrepresentation of the facts will do you have time to do a little teeny t a and Alex you just got super popular hangout this morning I got some quick time and then I got a run say it so you do a quick t a we'll get final thoughts from you guys these guys both got to take their dogs and ponies on the road early and I am gonna round out the week with you so don't go anywhere hang on a second let me get the screen share for our ticket ticket for a ticket ticket ticket ticket ticket ticket ticket ticket yeah I have a bit the bitcoin monthly chart is up all right lovely we're gonna focus on this so I really want to touch on Elliott wave theory here because I've been learning it a lot lately and also it's been working perfectly on the daily timeframe for Bitcoin but I also want to touch on something I was also been highlighting for a while which I think is not as valid anymore which is a more bearish scenario for Bitcoin so let's talk about that I explained it in my update video yesterday or the day prior tomorrow make sure we take some time here so what I was highlighting is I'm gonna make sure I'm about to do the right one yeah so this is the monthly chart for Bitcoin right an Elliott wave theory states that price moves in five waves so you can see wave one here a wave two which is a corrective wave your wave three which is usually your longest wave a wave four in a wave five now usually your fifth wave in final wave upwards is only just a little bit higher than your wave three but it can elongate and be hyper extended it did that in this case okay so this is a completed Elliott wave theory move afterwards you get a correction you can see that correction began here in January and that correction moves in three parts it's called a b and c and more often than not that a b c correction ends up creating a lower low in that c wave so the a the a wave down the b wave back up in the c wave back down but there is something called a oh what is it called a rolling top a rolling top or no a rolling flat is what it's called where instead of your c wave making a new lower low it actually does not um retrace your entire a wave so once I found that I was like oh interesting let me see if I can go and dive into the charts and I'll also take a look at the macro picture to understand do I think we can get a rolling top okay so now with that in mind I was like all right cool let's take a look at the daily time frame again take a look at the daily here and one thing that uh you want to see when you break resistance you want to see a really constant break and there is no more important area of resistance than what was right here because this orange line is your 200 day exponential moving average it's a very very very important line of resistance and support so if you're gonna get above that you want a nice confident break and we got that confident break we shot we've been shooting upwards to a pretty damn high degree so when you have a correction you have a lot of space you have a lot of room here to correct down and get caught by some level of support maybe something even higher up than the 200 day exponential moving average which is sitting at 86,000 dollars right a lot of opportunity to be caught and that would be a much higher low from this point here right and that's what we want to see if you're gonna have again going back to the monthly chart keep that in mind if you're gonna have that you know um you know the a uh oh wait this is not the right tool here but anyway I'll just you're gonna have this a wave down this b wave up in that rolling flat c wave it makes sense to get caught around that 200 day exponential moving average and because we have this really confident break upwards and I was like okay cool that looks like a rolling flat is gonna happen if so we're gonna have this rounding over and let's imagine that you know we get caught right here we're gonna have this rounding over a Bitcoin price to then potentially shoot upwards and when I take a look at the macro picture that we just got yesterday we are in a scenario that if it continues are getting more and more likely to have interest rates cut again adding to the strength of us having a rolling flat abc correction on the monthly timeframe meaning we won't have a lower low but are more likely than not to have a higher low gets solidified and to see this beautiful hopefully rounding over of you know lower lows turning into higher lows and if that happens if that gets solidified if I can see a good candle on a strong area of support on like the weekly or monthly timeframe probably weekly timeframe then I'm like boom all right this correction is the time to dollar cost average in two year altcoins right that's what technical analysis would be telling us so I wanted to go over that because I think it's a really good example of starting from the monthly timeframe go to the daily timeframe to see if what you're seeing your new knowledge is valid then take an understanding of the macro picture understand how that could impact it and then you know start to adjust your strategy and move forward right man killing it you I gotta say will your TA lessons are the only time that I'm like tuned into TA and I start to say wow I really get it I understand it you've got to give for teaching me and I know you also have to go so Alex will final thoughts last question suggestions topics words of wisdom good jokes before you ride your dogs and ponies off well I am just going to take a brief intermission and then join you from the road oh good then we can talk about the movement thing how about you give a last thought first then and then you can get off and then will can save me from myself and then I'll hang out with the folks here why you so transition I was just going to leave you guys with some interesting little tidbits to consider because the llama is back thank god damn the llama's back oh thank christ of course he wants defa llama dot com yes I do couple interesting interesting things so salana's tvl is up quite a bit in the last let's see so starting from the in from the beginning of this month like 6.4 billion to now over eight daily app revenue to our yesterday was $7 million dollars someone was asking about aerodrome aerodrome has done 18% today another fun fact about aerodrome based on current current data their annualized revenue as a protocol is almost a hundred million dollars wow and base is actually contracted in the last month I saw base has gone down a smidge still over three billion dollars of tvl but tron has passed it now over five tron is kind of creeping up and I think actually i think tron was ahead of it but bitcoins tvl has undergone a really really sharp increase which i think is interesting there's a couple different protocol i mean tvl just all across the board is is increasing yeah which is a good i think it has the the bitcoin thing i think has to do is 21 what's it's you know the the jack mollars led company to 21 strategy yeah i got to run okay love you bye bye everybody bye make money do good things um Alex you too yep i'm gonna i'm gonna ahead so there's a there's a number of different charts that are interesting tvl and avalanche flat interestingly so like mommy's kind of coming back in but the places that are getting the bigger spikes so arbor trums had a bit of a spike um bear a chain is flat base is kind of climbing up tron a little bit more bitcoin huge spike salana to almost uh almost two billion dollars added in the last three weeks um fun fact they're in flows for the last month we're equivalent to ethereum's outflows yeah well they're there so um actually here's a i'll leave you with this this is really cool check this out let me see i can find it fast enough okay give me a little stall Evan dance i will stall i'll tell you that if you are listening on the podcast you're in audio land first of all we hope you're well in your candles or green second of all if you missed the t_a_ visuals then where i want to direct your attention is the youtube playlist search the rise up morning show you'll find a whole playlist there of all our episodes you can see the screen share you can see well move through the charts if you're on tiktok and you need a bigger screen that's another good place for you to go you can also catch that on twitter facebook and linkedin in real time go ahead two things one i just went to the wrong deep bridge i typed in dot com instead of dot finance and i got a huge warning from brave like hey don't ask you about to get exploited yeah very good okay this chart is amazing if you've never looked at this before let's see oh my god it's so okay so this is inflows and outflows this is bridge movement between ecosystems okay it's gonna be kind of hard to see on the tiktok stream but if you wanted to look at this for yourself go to a deep bridge dot finance that's d e the r i d g e dot finance and hit analytics up on the top menu it it'll it'll it'll show you this this is and they're all color coded and labeled here on the side but this is money flowing from where to where and from where to where so it might not but it looks like there's a ribbon from salana to salana all so yeah that's bad just confusing to me help me understand more what do i what do i need to take away from this chart like what are the what are you taking away from it as you look at it's really interesting visual action here let's uh this is a this is a large chunk this is a month um let's just look at this is specifically last month yeah and you can notice the fatter the bands are the more capital is flowing in or out so this is salana the theorem is blue go ahead yeah so here here as we look at this this is a little bit easier to understand here you have where it's coming from where it's going to so like you said Evan in the last week you have a gigantic amount uh to the tune of what is that 16 16 billion dollars it looks like that last one is a period that's 16 million um in the last 16 is the day yeah so which is matched kind of with uh they're actually pretty much even salana to eth and eth to salana here um a lot of split up though like eth splits up into quite a few salana splits up into quite a few i mean you can obviously tell who's running it although interestingly arbitrum is like both sending and we're sure it's looking pretty good here amount of money yeah and i know we were talking with um who was just talking about optimism uh i was not when i was on simplified someone was commenting oh Charlie uh from farcade was just talking about optimism's consumer app revolution and like all this kind of stuff and it's just like something you don't really hear that much news about but arbitrum optimism constantly moving tremendous amounts of money this is an interesting thing to kind of poke around with this this chart gets published uh on twitter pretty regularly but kind of helps put in perspective you know where is money going you know from whom to whom from whom to whom or is it to who i don't know who sounds fancier and it's early and i am still on my first cup of tea so we're gonna go with whom okay are you transitioning to your automobile okay great then uh ride your dog into your pony and i will stall him while you go get there we're gonna talk more about a couple of other things we have the movement labs crisis on the docket we have got your crypto questions and i'm curious to know what was it oh i know what i was gonna say before whale jumped off i wanted to make sure that in addition to directing you to the youtube recording the playlist the rise up morning show where you can see the visuals i also wanted to tell you if you're interested in learning t_a we do have it on the rise up morning show.com the intro to technical analysis class with will it's really fantastic it's about two and a half hours you can watch it at your own pace and he's got a whole slide deck to accompany it with a bunch of notes you know back and forth you can come into the rise up discord server after the course ask your questions anytime it's totally free jump in there we often say the only thing missing is you so be sure to get those links you can tap my face tap Alex's face click a button to go to our homepage and you will find the link right there whatever social media platform you're watching on thank you very much for hanging out with us today and especially if you're in podcast land i really want to say i appreciate you guys for sticking through the visual presentation if you are not in podcast land did you know that the rise up morning show and rise up after dark are now available on your favorite podcast streaming platforms well we are i would love to see you there you can find the links at the rise up morning show.com okay save me from myself while we wait for Alex to get into his car we have a couple of good questions here first from Palmer McCoy on youtube is i know that tv all means total value locked but i'm not under i'm not sure i understand what that really means great question he clarified by locked is that meant held by institutions like coinbase and the answer is well kind of the technical definition of total value locked is the amount of money that is in all the different protocols on a given blockchain's ecosystem like the equivalent metric might be how much capital is in banks businesses bank accounts people's pockets underneath their mattresses in a city like if you went to new york and just turned it upside down and shook it until all the change fell out of its pockets that's the tvl but of course we're talking about digital money here protocols that's the word we have determined to give a name to institutions to crypto first apps blockchain foundations like the stellar foundation and not every dollar of tvl is captured by every reporting website for example defile mama it integrates with a lot but it famously under reports i think h bar is under reported i'm pretty sure stellar is under reported i'm pretty sure xrp also might be under reported and this is because when you're relying on api's you know you got to call me to get my api and if i don't have my ducks in a row so that you can make sense of the data on your end if there's not a good computer program for it then you just might not be able to see that data and if you can't see it it's not represented among whatever you present to your audience so a helpful way of think of tvl in summary is just all the money in the ecosystem all the protocols in a crypto ecosystem that's total value locked and it's criticized i think rightfully as a metric because it's difficult to report on and also because depending on the kind of solution you're building that may not be the most meaningful or important metric some people would say that total value locked could represent interest it could represent security the way they say the market cap of something like a theorem for example represents security because a higher market cap or a higher tvl indicates a hacker would have to spend more money to gain a majority share and compromise the network but we always need better metrics palmer says so larger tvl makes it more stable and the answer is technically it depends tvl is not necessarily a measure of stability because in the case of something that people don't have confidence in tvl will decrease in the case of something that people feel they are early to p a tvl might increase at a rapid rate if you go back and look at base in the early days when the ecosystem first launched they had a lot of initiatives and incentives that brought people to lock up their money there for example coinbase started offering yield on usdc that was just held in its accounts and how do you think coinbase the entity that custody assets for its customers preferred to keep those assets what form do you think it preferred to keep those assets in the answer of course is usdc on the base network it preferred to have liquidity as much as possible on base because that's their chain they earn on transaction volumes they can use it and earn a cut when they are deploying essentially their version of the token to do things like yield forming so tvl in that instance it went because they were incentivizing it they did a lot of things to incentivize the growth of the basic ecosystem they have coinbase ventures they had the smart wallet they had the coinbase wallet they've had a variety of consumer apps that they've supported by paying gas for they released CBBTC coinbase bitcoin a wrapped bitcoin asset a synthetic derivative so that people could start to do d5 things with their bitcoin on the base network so that attracted people's money tvl increased it's a helpful metric in some regards i think it's useful especially when as an investor you're trying to find opportunities that are growing shrinking or outsized opportunities to invest aero drone was a good example and Alex shared that let me see if i can pull it up here on d5 llama the people in podcast land i want to show folks how tvl as a metric can help you in conjunction with other metrics to spot something early oh damn it when i went to d5 llama calm i got rugged by the llama i'm looking at a black screen but what i'll tell you is i'll give you a visual description when base first launched aero drone was the first decentralized exchange on the protocol or the first fast growing decentralized exchange and as base grew in tvl aero drone grew in tvl their revenue grew and compared to a similar company like uniswap another decentralized exchange their revenue and tvl seemed outsized in comparison to their market cap and present price things like that everything else equal can help you to say it looks like this is a growing company that the market hasn't caught up to yet um it's just one piece that you can analyze but i think it's helpful please good question palmer and if you've got a question let me know before Alex jones back we'll do some more rapid fire rippley dad says for a beginner what is the best way to learn about yield farming i'm glad you asked i think the very best way to learn about yield farming is with stable coins you can do everything with a stable coin that you can do with a cryptocurrency of any other kind but the difference is stable coins are named because they are we say pegged to the price of a government or fiat currency like the dollar or the euro you would load money into an exchange or your preferred on ramp to turn your cash into crypto maybe coin based maybe by an ounce and then you would buy a stable coin i recommend usdt tether or usdc by circle um these have deep liquidity they're available on a variety of blockchains and depending on where you want to practice defi they'll get you started i recommend getting started on a layer two like a theorem like the base network i think it's really relatively easy for somebody to take a hundred dollars of cash through their banks send it to coin base or to use their card to turn it into crypto on coin base move it to a coin base wallet and then swap it around do defi stuff with it and those are essentially the steps you'll need to bring the money on chain you'll need to bring the money into a self-custody wallet which is a wallet where you have a private key or a seed phrase that's different than coin base or by an ounce because you have a username and a password they give you an account but they hold your private keys so there's a limit to the ways you can use crypto on their platform you'll need a self-custody wallet i recommend if you're using coin base to go to coin base wallet i wish it had a different name but here we are so you take your money turn it into crypto you take your crypto and send it to a self-custody wallet and then through your self-custody wallet you will navigate a lot of them have a browser right in their app or you will connect to a website by scanning a QR code with your wallet like uniswap where if the crypto you bought was not a stable coin at this point you can swap it into a stable coin like usdc or eurc if you want a euro or something like that from there i would recommend you start with a protocol that has large tvl at this point i would usually pull up defy lamin to show you how you can look at different protocols but for the intents and purposes of this exercise i'm going to go to i'm going to go to morfo because i said we wanted to specifically work with base so hold tight let me get the screen share prepped and again a reminder for my friends in audio land i will try to describe everything we see but you can always check the recording on youtube when you go to app.morpho.org after you have swapped your cryptocurrency for stable coins on the base network for the purpose of this example oh no it's not going to let me turn my screen around here we go come on now this is what you're going to see and a lot of defy protocols look like this they're going to have an interface where you can explore their yield opportunities and then they're going to prompt you to connect your wallet once you've connected your wallet let's see it'll give you a lot of options for the kind of different wallets they take i don't know if i'm going to be able to connect one of my social wallets while we're doing this i'm going to have to unlock it oh too many hands at the ready but what's going to happen let's see if i can go to my yield opportunities while we're doing that explore you will look for a place to put your money to work for example when i click their explorer tab i see a variety of markets where i can lend different collateral assets in order to take out a loan or where i can loan one sort of asset that somebody else can use as collateral this market allows you to be a borrower or a lender and it either pays you interest or charges you interest and it has a variety of other metrics too but if this is an opportunity you wanted to participate in based on the assets that you hold you would find it you'd say ah the loan token is usdc great you would connect your wallet and you would lend usdc or in this case you would supply collateral token and then borrow usdc that you could earn an interest rate on that you could do another that you could use another defy protocols but that's the first step is getting used to the interfaces getting used to the steps and then finding opportunities like this because a lot of the interfaces will look just a little bit different and the most conservative way to learn the least risky way to learn is to start with a stablecoin because reducing volatility that reduces one kind of risk the second important thing is to go to a well established protocol that does have high tvl that does have independent audits i happen to know that morpho is one such protocol but if you didn't know that would be where you would spend some time looking around on a discord community you'd hang out at a live like this ask somebody who's been here a while and just ask them why so i would say morpho is a worthwhile protocol because it has independent audits because it has large institutional support you know coinbase is comfortable partnering with them to do different things they have a variety of providers people who actually do the work of coding these smart contracts or creating new lending and yield opportunities so you have a wide marketplace to choose from it's not like you just got to buy from one guy kind of thing and they have high tvl they got a lot of assets and it's growing so all those things give me confidence and if you need clarification on any of those don't hesitate to let me know other such places you might go include ava ava it is the largest defi protocol in the cryptocurrency space it's also very easy to lend assets on ava in just a couple of clicks i would recommend you check out marinate we had them on the show last night if you want to learn how to stake doing it on the salana network is a great cheap easy experience and marinate is one of the best in terms of how simple they make it to stake your soul and the kind of options they give you the way that they're working to offer incentives for validators to compete to share those incentives with people who are staking their soul to earn rewards those are cool so start with those and then don't hesitate to use something like defile amount when it's up to check out other opportunities by searching the asset you want to practice defi with good question freddy says when i hit it big y'all come get in my pool i like it freddy i hope you hit it big soon thank you for the questions please keep in comment and in the meantime welcome back our friend mr. Alex popovic from the road there he is what's going on man how you doing we made it back we made it back we just been answering some questions about defi talking about how to get started and torre just made the comment sound scary in reference to marinate she said stake my soul yes yes your soul so Alex i know that we wanted to talk about a little movement crisis and we just had a comment from moist micha said not to throw you off topic you mentioned movement did i miss something and the answer my friend is uh yeah yeah you missed something and i want to bring you a good guy for the records so i'm curious okay hold tight let me prep a little screen share and tell you that this is not necessarily a cause for tremendous concern in the sense that it's not an unprecedented sort of thing but i see it as a cause for concern personally and i think it's interesting to pay attention to specifically because Alex you know we did a deal with the movement foundation before we said you know we're really not that interested in doing single videos and god bless them they let us make a video however we wanted you know they uh they sponsored a couple of videos from us and we said great that's cool we'd love your help paying the bills but only if we have total creative freedom to like talk about your protocol in a way that aligns with our audience everybody who pays you as a creator to do content usually they just want you to talk about their talking points their token how to buy why it's going to go up in value or price and i just don't think that's a really great way to do business when you're a content creator who wants to build trust with people i know Alex and will know neither so we agreed to do it because they agreed to let us talk about their protocol and talk about it however we wanted and we were really interested in their integration specifically of like the move programming language sui does it aptos does it it's it's a novel play at making blockchain better by implementing a native and helpful programming language not like solidity or rust that have kind of been retrofitted for it so we were excited about that but recently here's the news you need let me prep my screen share for you recently it came to light that the movement foundation had signed a deal loaning about 50% of its circulating supply to a company called web 3 port web 3 port labs and this is an a mm in automated market maker they build themselves on x as a full cycle acceleration and investment platform what these companies do is they help this token get listed on exchanges they will take deals for big cuts of the token or they will just buy a lot of the token in order to help trade it to facilitate the making of markets what happens is when a token gets listed on an exchange especially if it's a you know decentralized exchange morpho is a good example all those pools that we saw all those defi opportunities were some companies with a lot of tokens saying hey we're going to create a smart contract where people can swap one type of token for another we are going to fulfill that service and we're going to put up some tokens to get everybody started we're going to give it a little boost when this first started happening in our space in 2020 2019 maybe even sooner 2018 automated market makers realized that they could generate fees for the protocol and generate fees for themselves by creating fake volume when you have a lot of a token and you trade in or out of that token between that token and another asset you can make it look like that token is pumping in price is pumping in volume is going up or down in value over time it's a significant role and it's coming to the criticism of and scrutiny of like the SEC it's one of the reasons why we have so much of their attention and uh generally speaking the flag of manipulation just to be clear yeah totally totally it's flagrant market manipulation but it has been a viable business model in the sense that many companies have spent a lot of time and effort and energy doing this they realized that this was like a new job in the crypto space mostly unregulated and saw a lot of market makers popped up and their whole job was to go to a token company and say like great we'll buy some of your token you know we'll create a pool for it here we'll create a pool for it there it was an incentive that was not really aligned with retail investors like us and there are many tokens that you see all the time or hear about that people don't say this about them but the truth is they're listed on an exchange because or their price is going up because somebody somewhere like this with a big stack of tokens is is is pumping it that way so the day after move debuted on exchanges accounts linked to this company that had they had loaned 50% of their circulating supply to dumped 66 million tokens and Binance picked up on this and they banned it uh the trading of the token they basically said hey we have noticed something weird going on with one of the market makers for move and so we are freezing trading for this token due to the market makers behavior the announcement said for the purpose of best protecting Binance's users we've taken additional steps as follows we've informed movement labs and movement foundation teams of the irregularities with their market maker we've frozen proceeds from the market maker for the purpose of compensating users and we've off-boarded and forbidden any further market making activities by the market maker on Binance now here's kind of the fallout to this and the implications uh the move team is upset the movement team movement labs um there's a burden to proof on them because what people are speculating is you did this deal with this automated market maker so that they could move the price in ways that would be favorable for you it backfired when they dumped your token and your attempt to create like false perceptions of value have backfired there's there's a been a lot of criticism after like more looking at the movement labs team um just about how they have done their business in terms of making the token appear to be valuable in ways that that are not necessarily organic um and this is one such accusation obviously their accusations is speculative there's information still coming out people are saying good for Binance because for a long time Binance has sort of allowed this thing or they've kind of cherry picked what they will or won't allow when it benefits them but platforms generally speaking are hearing louder responses from people that they don't like this kind of behavior and good on Binance they do seem to be stepping in and and having a more firm hand about enforcing policies like this I think it has to do with regulatory they want to be friendlier to the regulators I'm just speculating so Alex it's uh it's not necessarily that anything is wrong with the movement foundation we're waiting for more information to come out but Alex do you have a take a thought or something I missed that people are saying about it yeah so I would agree good on good on Binance because if we don't want this kind of stuff then there needs to actually be some sort of penalty for participating in it and I would agree I don't like this kind of behavior I think it's shady and if your I don't know I mean what it's it's very hard to find a silver lining in market manipulation I guess if I was forced to say like one nice thing is like okay well at least we're not talking about an exploit or you know something where you know literal consumer retail tokens or money is at stake here but you know obviously it's uh it really puts your investment risk when you're found out to be doing shady shit so I hope that this kind of thing like I hope something is learned from it I mean I think movement could recover if they issued a statement about it and then didn't do it anymore or I don't know if there is even really a mechanism by which you can reclaim how many tokens you lent out or if I don't know what the terms or the specifics their contracts are for all that kind of stuff but I mean no overall it's it's shitting I'm not I'm not stoked on it it's just point yeah it is disappointing and it's a problematic thing with the crypto space it's it's something we all need to be paying attention to because it's happened for a long time if I if I had been more prepared about this I really would have made this a rise up rewind segment and maybe on a future show we can do a history of automated market makers I actually think that would be really helpful because one of the innovations of our space is the ability to have automated market makers in traditional assets you have a market that opens and closes because it is mostly facilitated at some level by humans it is not automatic it is automated in some places but largely speaking folks maintain it they got to go to bed and that's why we have like a trading day you know the market is open the market is closed there's pre-market there's aftermarket kind of activity in crypto the innovation is that because we've got these pieces of computer code these smart contracts that can facilitate the assigning or reassigning of digital assets what we would call the moving of money but which is actually just you know entries in a ledger the computer can have rules that it functions like a calculator to assign or reassign based on the request that people make and using a network of computers nobody no one person has to own it but that means that if somebody comes in and has meets the rules and wants to move money the smart contract the smart contract is going to let them so it's an interesting it's an interesting topic and it brings up a lot of implications about like what it means to be centralized what it means to be decentralized and when it's good to have somebody like by an answer who could say you know what if they're a good actor we got to stop this kind of behavior in a world where anybody can do anything so stay tuned for that in the meantime Alex we have a good question here if adding virtual protocol kind of a switch to your tangent or other cold storage wallet how do you know which network to choose Alex it's a it's a little bumpy there but I'm gonna ask you to tell me how do I know which network to choose when I'm sending assets to a cryptocurrency wallet for the first time what would you look at so I will first I would want to know you know if I have the possibility that this thing could be on multiple so I want to know what my my choices are and so I would probably look at something like Koyneko to tell me you know what all networks token whatever we're talking about here is is living on and you would be able to see that over on the info side underneath contract it'll show you which chains it has an address on in that sense usually if you're and I missed it in the question is this coming off of a centralized exchange it wasn't stated so let's let's account for both scenarios a centralized exchange in a decentralized or a wallet okay so the decentralized option is actually a little bit simpler just because as it's sitting in whatever wallet you're using it's going to be reading on whatever network it lives on so you'll only have one option you'll you'll be able to see where it's sitting and so in this particular sense it looks like you would know pretty much immediately looking at a how wallet whether or not you were an SVM wallet or an EVM wallet like you know a Metamask or a coin-based smart wallet or something like that versus something like Phantom it's right and for the people who can't see Alex is saying that because we've gone to Koyneko we've verified the contract lives on Solana and it lives on base and I feel like virtuals might also live on sonic I could I could be totally within this and Koyneko might be under reporting but it definitely is an EVM meaning Ethereum virtual machine compatible address for soul and base so that's going to help narrow down your choices tremendously once we go to our wallet Alex let's say you know it's on Solana or or you know I know it's on Solana because it's in my phantom wallet and I always use phantom to do Solana stuff but I want to double check like I it's in my phantom wallet how would I go into my wallet and see what network it's on what what would I look for generally or generally so at this point it's gotten super simple and you can just look at the page that catalogs your assets and they will all have a tiny little icon over the bigger logo for whatever that asset is that shows you which network is on it's either going to have the sole logo the polygon logo the base logo you know whatever whatever network you're currently holding those tokens on on the other side if you're trading it out of a centralized exchange and you're looking to withdraw it to an external wallet it's kind of dealers choice like if you want to keep it on EVM you know go for it usually when you're holding assets on a centralized exchange you are not specifically differentiating between different blockchains like if I if my coin base account has some soul and it has some ethernet I'm not specifically looking at the fact that I'm carrying it on Solana and on Ethereum I just have them in my coin base account and coin base is custodying those things for me in the appropriate place and then if I go to withdraw I would have the option of choosing a network at that point and I would just want to pick one that I know the wallet I'm sending it to supports and one that I know the token I'm sending it the token that I'm sending actually lives on so it's kind of hard to mess it up just because if you're looking at a hot wallet now there's icons and little blips everywhere and there's more and more and more safety features on the sending to make sure you're not trying to enter you know an EVM address when you're trying to send a Solana token and same thing on a centralized exchange you know if you're looking to try to enter an address to a blockchain where there's no support for this thing then it's going to be like hey buddy slow down and check that address because that ain't right. Yeah so let us know where the asset lives and you'll see that in your Tangent too make sure you only send assets on blank network to this address and the final check is addresses look similar when they're on the same network for example whether I'm on Ethereum polygon base optimism arbitrism arbitrism arbitrism that's like if arbitrage is yeah exactly I'm trying to bring it together they all are what we say is EVM compatible Ethereum virtual machine compatible which means your Ethereum mainnet address is going to be an address that you can use to send assets all those networks it'll know automatically if I send usdc from base to an Ethereum address to sort it onto the base network it's simple if you see that your assets are on Sol then the address will look similar as it will in your Tangent wallet if it says do you want to receive these assets on Sol and you'll see it starts or ends with you know a different sort of format then the zero x format of Ethereum or the BRC format of the Bitcoin network and you'll start to recognize these things over time but it's a really good question because like we talked about yesterday if you send your assets to the wrong network in some instances many instances they are irretrievable someone said explain that to my grandma well here is how I would start I would say if that's confusing to you or if you'd like a real visual breakdown step by step I recommend you get started with a playlist that I've created called learn to use crypto it's at my ticktock profile which is conversations with Evan search my name you'll find it watch out for the imitators because they're everywhere but the legit one is me and right at the top of the profile there's a little button that'll say learn to use crypto playlist it takes you through how to buy how to sell how to send how to receive how to store your crypto securely how to turn it back into cash and it uses examples with screen sharing of coinbase to coinbase wallet coinbase wallet to cold storage we talk theoretically about what tokens are why they matter what is a smart contract how can they be used and in the rest of the videos of the series I'm going to do more dedicated explainers of this is what a common scam looks like or here's how to participate in defy to earn yield and then eventually I'd like to just have you know a total monopoly on the screen share market of this or that tutorial how to send from coinbase to change them on this old network on ticktock but in the meantime I've got friends Alex has a fantastic set of videos crypto in 60 seconds where he takes a complex or jargon concept and simplifies it without any jargon at all so that even your grandma can understand it and speaking of grandmas we got a shout out our friend he move rockman you can find him by searching his name hemu rahmain on ticktock he's also on x and he has a series called teaching crypto to my grandma he's going to explain crypto so that even your grandma can understand it and let me say about grandmas just because somebody's a grandma doesn't mean they can't understand crypto we happen to know many grandmothers who are real savvy with crypto they come to the show you know I'm talking about I'm talking I have I have several people in mind that I am thinking of right here you know and they hang out in the discord and they are teaching other people how to use this stuff not just in our community online but in their day to day lives I got to say Alex one of the things I am most proud of is every time I hear a story from somebody who saved someone from a scam or who helped them understand the difference between speculative cryptocurrency and maybe an investment like Bitcoin and it just warms my heart so if you're thinking I'm too old to learn this stuff or I'm I'm too stupid to learn this stuff listen we're not going to dumb it down for you this is about elevating everyone's understanding by making this accessible and you know what the real secret sauce is that we're doing it together when we all get in a room together to learn something new share what we know we learn and grow together it accelerates your learning journey and the relationships you build will help you to stay curious even when it's hard I gotta be honest if Alex and Will weren't here I probably would have amused on this thing a while ago if all of you weren't here we say you're the best part of the show because you give us a reason to keep coming back it makes me excited Alex to wake up in the morning and do this as like the first part of my workday because I know that people out there really need this information and if we don't share it who's going to so all that to say keep coming back with your questions if it's too difficult don't hesitate to take it one step at a time starting with the jargon and then definitely jump into a community it doesn't have to be ours but ours is free it's discord dot gg slash rise up if you've never joined the discord server before we even got tutorial videos to help you get there you can find that and all of our links like to pass shows at the rise up morning show dot com and you can even start a free membership trial we do have membership services that help you make things like coaching one-on-one with us or the classes we offer cheaper more affordable over time costs less than Netflix I think does now and it's a it's an ongoing experience that we hope to make more valuable over time as we continue to deepen and broaden the community so check it out join for free come for the friends stay for the knowledge yada yada yada rise up you know it's a great community and the only thing missing is you Alex did I miss anything that was like a alone commercial but a long commercial important no I don't think so I think that was I was great I will say that if you are a a premium member and there's something that you would like to see then just throw it out I'm constantly looking to source suggestions because my my one of my deepest fears is that it's not valuable enough and so if there's something in it that you would like to see then just just ask same thing with all those playlists that haven't mentioned like if there's a I need to make more of the you know crypto in 60 seconds videos so if you want to request one please feel free same thing with the pdf guys the classes or anything anything like that like just throw it out there we're aggressively listening and adding new things new features all that good stuff and especially now with the the ever drawing near circle migration I think we'll have some options to just make it bigger and better that's right I had a really good on-boarding meeting with they have given us a thorough roadmap they've got a whole team dedicated to like helping us set this community up well and it's a lot of work it's going to be a lot of work but I'm excited for people to see it oh thought he was coming back he rugged me in there sorry just driving past a very loud truck and I figured it was going to be annoying no it's okay I want to get this questioned from Torrey this comment from Torrey and then I'd love to do some final thoughts and take our dogs and ponies on the road for the weekend because it's not going to hit a higher note than that Torrey said why are there so many grifters I wish I could tag people with a warning so many grifters and I think we could do a token for this somebody has surely done a token for this it sounds familiar to me Alex does it sound familiar to you I'm sure there's a soulbound token out there the same way that we've talked about doing soulbound credentials or you know other kinds of tokenized credentials for you took a class or you got a mug so here's your po app I if nobody else has done it and even if they have we could do a rise up grifter badge you know which is like you you grifted you grifted you're a special grifter yeah and just send it to the wall yeah it's unfortunate but at the beginnings and in the in the infancy of absolutely any industry especially one that has such heavy financial ties as web three blockchain cryptocurrency you are going to have those who come out and grift you saw it in the beginning of the internet everybody under the sun was buying domains and selling them and trading them it was just like NFTs you were only buying them because you thought someone was gonna eventually pay you more for the one that you bought it was it was the same old shit there's always a pyramid scheme craze in the beginning so it's the reason is the reason is just because there's money attached and because when it's new and the technology is hard to understand there's fewer people who have a good grasp on it it's easier to swindle people swindling is never easier than in the beginnings of an industry so that's why you learn about it because that's the only real protection you have against just being repeatedly grifted by people who know the buzzwords know the jargon can read you a real schnazzi sounding brochure that actually has absolutely nothing behind it you know and as soon as you realize that any cryptocurrency can be launched by you know three dudes in their apartment and like a very basic understanding of I don't know some basic website builder and a twitter account there you go that's all you need to launch a fortune 500 company basically basically geez or you know a company whose market cap is bigger than Starbucks anyway we have one more good question that I do want to answer we have more two actually so the the first is I will repeat the discord for you discord dot gg/riseup but the real link you need to remember is just the riseupmourningshow.com the name of the show if you search the riseup morning show online you will find us and then you will find the discord server and if you don't to the show and leave us a comment we'll make sure you get it discord dot gg/riseup a lot of the best yields on defy llama aren't on coinbase or robinhood any thoughts this goes back to what we were talking about earlier where if you want to participate in defy Alex you weren't online so I'm going to kick this to you quickly but the explanation I gave was the steps to get to defy involve turning cash into crypto probably using an exchange like robinhood or coinbase and then moving your crypto to a self-custody wallet because I explained you can't do everything with crypto on robinhood or coinbase that you can when that crypto is in a wallet that you own in control and that's because you know they got to make money on it they only can take on so much liability they don't have the time to vet every single protocol and so because what you have when you have an account with coinbase or robinhood is an account not a private key that you own directly the ability to access and control your crypto completely you need to go to a self-custody wallet before you can take advantage of most defy opportunities do you have anything to add or intermediate steps some people ask about buying crypto in wallet you know and I always say don't do that it's so expensive but yeah I'm gonna make a couple videos about it just because I've had a lot of people commenting lately about the profit-taking strategy just saying like well they're not trading with enough to make the fees worth it and I'm always saying like well you guys are just trading in the places with the high fees and you can go trade somewhere else so I'm gonna put together a list of examples and do that you know the the simple fact is that with these defy protocols often they just have significantly less overhead and the point of it is not to middleman the ever-loving shit out of you so you don't have as many people taking cuts and there's you know coinbase and all that kind of stuff may be using cryptocurrency and web three tools you know in their day-to-day business but make no mistake they are a web-to business like it is a large company with a bunch of employees that has a tremendous amount of overhead and they want to make their cuts so they take a lot of money to you know facilitate their services and maybe they pay you some better interest rates here or there or whatever but you know they are a for-profit company. I do have to jump here so the only other thing that I was gonna say is I think that there was a little bit of confusion as we were talking about circle migration we're not talking about circle as in the creator of USDC we're talking about moving our community from discord to a place called circle so I don't want to confuse anybody by making you think that we're talking about something happening with USDC USDC is on a bunch of blockchains and I'm sure they will continue to add more as long as more coming out and being worthwhile. I missed that I responded to that question okay I know you got to go so you good but that as a final thought or do you want to give one more because I'll wrap us up.
• 1:28:33
  Yep no that's that's good I've got a number of videos I'm gonna try to get out in the next day or two just about some different defy tools and then like I said trading with lower fees just because I know that if you're trying to take profit on smaller amounts and you're using something like Coinbase you know paying a paying an eight dollar fee every single time is really not sustainable and it can really take a big dent out of it so. No and I got to take Coinbase one is the is the move.
• 1:29:00
  Yeah if you're doing that then absolutely 100% just it is worth it if you're if you're trading with that kind of volume and then the the last thing I would say is just just remember that even if you are doing that those fees are tax deductible so keep track of them. Yeah excellent thank you for another great week of shows Alex. Or so is a good one I'm excited to get right back into it next week and then we are drawing ever ever nearer to consensus so stay tuned we'll have hopefully some good updates in the near future about what you can expect from consensus and then if you're going there then we'll be seeing you soon. Yeah we sure will be sure if you haven't already to check out in the the links for this episode where we do the podcast where we do the YouTube replay I am going to include a link to our event it's totally free we're gonna get together for bowling blockchain conversation maybe some little small bites at a place called the ballroom bowl tell your friends tell your mom especially if they live in Toronto to come hang out with us it's gonna be Thursday May 15th and you can register totally for free we're gonna have our friends from Polygon there Nikki said he'd come by from Marinate I hope to have Lindsey there formerly from Stellar and now of Seeking Alpha and who knows where she'll be next all of our other friends were inviting them there I invited a bunch of friends from tall Dow leaving short Dow in our shadow thank you very much since uh at least twenty twenty four and we'd love to see you there we absolutely would we'd also love to see you in the discord community and I will say the circle community is gonna be fantastic circle if you don't know it's like it's like a hyped up version of school with all the features of discord plus some extras but the usability of like a Facebook group they even have their own like automations so we can really personalize the experience in somebody joins they'll get a message that you know I can craft not just like some stupid stock message and depending on the kinds of actions people take we can automate other kinds of it you know hey you should meet this person because you both like real world assets just such cool stuff and the most important thing is the verification on entry is way better than discord discord is a lot like tiktok a lot like Twitter where there are impersonators if somebody joins the discord community I will say this is my final thought you got to watch out for impersonators you should turn your direct messages off you should never accept direct messages in Alex and will and I and all our friends and moderators in the community we will never message you unsolicited we will never try to get you off the platform into telegram or somewhere else and we will never try to sell you an investment or offer to invest money for you or anything like that we're just not gonna do it as a policy we don't reach out to people like that but there are people who will on every platform where we live because we talk about investing we talk about crypto we talk about AI new technology who will impersonate us to leverage the trust we have built to try and take your money so please do not fall for it on discord on Facebook on tiktok anywhere and just know that we're working on a community where we can keep everything in one place and help everybody stay safe so my friends thank you for being the very best part of what we do check out the links at the rise at morningshow.com check out the podcast like us really like us and leave us a review and then come back next week we'll be here same time Monday through Thursday at 7am central and Wednesdays for rise up after dark until then my friends everybody stay safe be well rise