Latest / CRYPTO 101 / Crypto Rundown: JP Morgan Chooses SOL & The Crypto China Supercycle

Transcript

Crypto Rundown: JP Morgan Chooses SOL & The Crypto China Supercycle · CRYPTO 101

• 0:08
  [SPEAKER_01]: Alright everybody, welcome back to the crypto rundown of volatile Friday, where J.P. Morgan's select Solana is Solana now the winner, Jamie Diamond, choosing to work with Solana.
• 0:21
  [SPEAKER_01]: We're going to cover that.
• 0:22
  [SPEAKER_01]: Is there a China super cycle?
• 0:24
  [SPEAKER_01]: in the distance.
• 0:25
  [SPEAKER_01]: It was an interesting take I saw on TV.
• 0:27
  [SPEAKER_01]: We're going to break that down.
• 0:28
  [SPEAKER_01]: You see it on the screen right now.
• 0:30
  [SPEAKER_01]: Coin market cap with some volatility to the downside.
• 0:33
  [SPEAKER_01]: We'll have to check that out next week with Hunter and Brendan on the charts.
• 0:37
  [SPEAKER_01]: But as you can see, the fear and greed index finally dipping into neutral after quite a while being in the greed.
• 0:43
  [SPEAKER_01]: This is something that we kind of tell the cast saying, hey,
• 0:45
  [SPEAKER_01]: We know, you know, you're going into this resistance.
• 0:47
  [SPEAKER_01]: This wedge is going to go to the upside.
• 0:48
  [SPEAKER_01]: It's going to go to the downside.
• 0:49
  [SPEAKER_01]: We saw it go down, but nonetheless, you saw the thumbnail.
• 0:53
  [SPEAKER_01]: You saw the title.
• 0:54
  [SPEAKER_01]: There's a lot of bullish news to break down.
• 0:56
  [SPEAKER_01]: We got a big sheet for you guys.
• 0:57
  [SPEAKER_01]: We got 10 topics to explore.
• 0:59
  [SPEAKER_01]: They're going to be a little bit more of a quick hitter.
• 1:00
  [SPEAKER_01]: But you're going to want to tune in.
• 1:01
  [SPEAKER_01]: You're going to want to give a like.
• 1:02
  [SPEAKER_01]: And if you're new, bottom right subscribe, Brian, happy Friday.
• 1:07
  [SPEAKER_01]: How are you feeling looking at the board before we dive into our top items of Jamie Diamond and J.P. Morgan selecting Solana?
• 1:13
  [SPEAKER_02]: yeah i feel okay man i feel i feel okay i think actually yesterday things felt a little bit i don't want to say doom and gloom things felt a little bit shake your but it seems like the market now we're up a couple percent on the 24 hour which is nice it seems like the market's kind of shrugging off
• 1:29
  [SPEAKER_02]: some of the things that we were hearing yesterday.
• 1:31
  [SPEAKER_02]: I mean Bitcoin still in that low to mid-80s range right now.
• 1:36
  [SPEAKER_02]: I think we're setting up for a really good area.
• 1:39
  [SPEAKER_02]: You know, Ethereum's kind of dragging down a little bit more on the week as we all know, and I think it's bringing it ancillon, actually.
• 1:47
  [SPEAKER_02]: But again, I don't feel
• 1:49
  [SPEAKER_02]: Wow, Z-Cash 10% down on the week.
• 1:52
  [SPEAKER_02]: I don't feel overly concerned about where we are on the market.
• 1:56
  [SPEAKER_02]: I feel, you know, relatively bullish, I feel bullish when we're going, you know, into the fall.
• 2:02
  [SPEAKER_02]: I've been pretty open about that.
• 2:03
  [SPEAKER_02]: I think 56 to fair and green.
• 2:05
  [SPEAKER_02]: is is right around where where we should be.
• 2:07
  [SPEAKER_02]: That's that's kind of where the market's feeling getting this neutral.
• 2:11
  [SPEAKER_02]: We've had just some, you know, macro fears here was like uh, treasury yields and things along those lines.
• 2:17
  [SPEAKER_02]: I mean, I didn't the stock market could absolutely wax yesterday too.
• 2:20
  [SPEAKER_02]: I remember I remember seeing it was pretty red.
• 2:22
  [SPEAKER_01]: So there was, um, this is actually worth talking, uh, just no, we won't, we won't deep dive it, but it is worth noting.
• 2:28
  [SPEAKER_01]: So, uh, open AI in the middle of the day yesterday.
• 2:31
  [SPEAKER_01]: Kind of released some finances and people got to remember open AI is not a public company So they do not have quarterly earnings release, but it is so big and so tied to this AI trade that I guess they wanted to release this I don't really know the reason why but they they released that they came up
• 2:50
  [SPEAKER_01]: I believe $20 billion short revenue, and that's not a small number, right, $20 billion.
• 2:55
  [SPEAKER_01]: And so that kind of spook the market in the middle of the day.
• 2:57
  [SPEAKER_01]: And then you've got to add in the raising, the rates.
• 3:01
  [SPEAKER_01]: So the 10 year interest rates are going higher, mortgages are at a high since 2022.
• 3:08
  [SPEAKER_01]: The Fed looks like they're going to be raising rates again before the end of the year.
• 3:13
  [SPEAKER_01]: So it's something that we pointed out, probably about a month ago, I know the Fed raise rates and then I kind of brought up the old adages, you don't fight the Fed.
• 3:22
  [SPEAKER_01]: And so I think the market, yeah, I agree with you, neutral is the perfect point of where we are right now, because the market's really just trying to digest, you know, I think they can see through the next cut, I think the market's accepted that, I'm sorry, next hike.
• 3:44
  [SPEAKER_01]: And then we got to see that outcome.
• 3:46
  [SPEAKER_01]: There's a lot of people projecting, like, okay, maybe the, you know, it's going to be basically gridlock with the market technically likes.
• 3:52
  [SPEAKER_01]: And then you're looking at another hike from the Fed.
• 3:54
  [SPEAKER_01]: So there's a lot of things that the market is projecting that they, it probably wants to see happen.
• 4:00
  [SPEAKER_01]: And but one thing I didn't see coming is these AI revenues being down for open AI.
• 4:05
  [SPEAKER_01]: And that's like,
• 4:06
  [SPEAKER_01]: Again, that's a huge story that capex story for investing into this AI story of how it's going to invest and invest and then bring the abundance is kind of what at least the NASDAQ is holding on to so crypto.
• 4:22
  [SPEAKER_01]: probably taking up either definitely interest rate wise because of that but there's there's definitely some macro fears but also the market likes to call a crawl a wall worry right Brian so there's plenty of things to pick and choose of what you want to talk about at a macro level but I think the market is where it should be it makes sense.
• 4:41
  [SPEAKER_02]: Yeah, yeah, I think we're both really hitting the nail on the head here, kind of where we're at neutral feeling, you know, what we're seeing a little cool off in the crypto market, we're seeing a cool off in some more speculative assets, the stock market pretty red yesterday, AI is always in the conversation, but.
• 4:58
  [SPEAKER_02]: Overall, when I, you know, I pull that vision out a little bit, we're sitting pretty good.
• 5:03
  [SPEAKER_02]: You know, we're in the 80s and Bitcoin, Ethereum's over 2000, and we're getting a lot of bullish headlines out there as well.
• 5:11
  [SPEAKER_02]: A lot of people are talking about some bullish news in the crypto sector.
• 5:15
  [SPEAKER_02]: And I'm feeling personally pretty bullish.
• 5:17
  [SPEAKER_02]: I'm always looking, I'm like, the guy that looks at the glass has a half full.
• 5:21
  [SPEAKER_02]: If I felt like there's like a major concern, I would certainly voice my opinion on the rundown, especially, but you know, this just feels like a little bit of a cool off period.
• 5:29
  [SPEAKER_02]: And it may go on for a couple of weeks, not to say, you know, we're going to just bounce back.
• 5:34
  [SPEAKER_02]: But even even yesterday, when it felt like a lot, like if you just look at the Twitter timeline, or the X timeline, it felt to him and gloom yesterday.
• 5:43
  [SPEAKER_02]: And then we kind of bounce back, we're up a couple percentage points.
• 5:46
  [SPEAKER_02]: So we have pretty short memories.
• 5:48
  [SPEAKER_01]: Yeah, couldn't couldn't agree more and there's again, we'll just do some quick hitters here of some bullish news.
• 5:53
  [SPEAKER_01]: We've got a TD Cowan raising its big point price projection to the end of the year.
• 5:58
  [SPEAKER_01]: 109 K saying that we're going to break the by year end 26.
• 6:02
  [SPEAKER_01]: That's this year in 280,000 by 2029.
• 6:06
  [SPEAKER_01]: That's that's a bullish take to be posting right now.
• 6:08
  [SPEAKER_01]: And then.
• 6:09
  [SPEAKER_01]: You highlighted Centrini, a noted research, they published a lot of cryptos, a lot of cryptos that we've talked about on the show, a lot of cryptos that we've talked about in this community for a long time.
• 6:23
  [SPEAKER_02]: Yeah, this is actually one of the most interesting stories for me, and I definitely wanted to put on our sheet because we're seeing the conversation expand farther or expand from Bitcoin Ethereum.
• 6:34
  [SPEAKER_02]: There's small projects, building communities and projects and are starting to attract a lot of attention.
• 6:39
  [SPEAKER_02]: I think that's where some interesting opportunities always can develop, but you need to separate real momentum from simply people just chasing a narrative.
• 6:48
  [SPEAKER_02]: But when we look at some of these names on here,
• 6:51
  [SPEAKER_02]: I mean, it feels like a crypto 101 like leaderboard, there's a, you know, the lighters and the obvious and Athena is in salon, a hyper liquid arrows, there's zero chain link back, I mean, these are maple, these are tokens that we've been talking about literally through the entire bear market.
• 7:08
  [SPEAKER_02]: So it's just great to see a firm like Centrini, essentially just, you know, it's like a stamp of approval that they're, this is the crypto token basket and it's something that I think every analyst on here 80, 90% of these.
• 7:24
  [SPEAKER_02]: We've been talking about them and reasons why we like it.
• 7:27
  [SPEAKER_02]: So it definitely kind of like a little pat on our back, you know, on a Friday calendar back for the boys.
• 7:33
  [SPEAKER_02]: It makes us feel like going the right direction.
• 7:36
  [SPEAKER_01]: We got a comment from a listener on Spotify who said I can't I'm giving these guys a try But all they do is congratulate themselves.
• 7:45
  [SPEAKER_01]: So you started watching and we're having that when we were having the the market momentum to the upside and a new listener came in Because he saw the price action you wanted to know
• 7:53
  [SPEAKER_01]: what to do, but what he should have been doing was listening in the bear market because that's where the alpha was and our team has been publishing their own research in our newsletters and our picks and the community.
• 8:05
  [SPEAKER_01]: So it's definitely where you want to be if you want to get that first action.
• 8:08
  [SPEAKER_01]: If anybody's interested in the number one coin to own right now that the team is really bullish on,
• 8:13
  [SPEAKER_01]: Maybe this pullback is the right time to get that research and get that education check the link below We have a click there for the number one coin over right now, and if you're not interested in that Check some of the other links you can get more involved in the community with Brian with Joe with Bryce with Brendan Hunter the whole entire team
• 8:30
  [SPEAKER_01]: uh... check out the links below because now's uh... again as we enter this you know new bull market technically is the time to you know join in and get your your research as as intrany publishing maybe their community members Brian because again like you said this is something that we've been talking about for a long time something that hasn't been talked about for a long time that really caught my eye this week Jamie diamond front of the show uh... jpe morgan
• 8:57
  [SPEAKER_01]: helps Solana develop new system allowing financial institutions to settle trades on Shane in seconds.
• 9:02
  [SPEAKER_01]: So again, I may be a little bit of a teaser there of JP Morgan's choosing Solana, but you know, I just think JP Morgan in this traditional finance system, the integration is coming.
• 9:13
  [SPEAKER_01]: It's not going anywhere.
• 9:14
  [SPEAKER_01]: You know, this is a long way of, you know, the Pet Rock, a Jamie Diamond used to tout and call Bitcoin and make fun of crypto when it was down.
• 9:21
  [SPEAKER_01]: you know, all the all the negative energy he put towards the space, uh, but then there are always these headlines that we love to cover of of you know JP Morgan in crypto and stablecoins and all that stuff.
• 9:32
  [SPEAKER_01]: So, uh, Stallana JP Morgan.
• 9:34
  [SPEAKER_01]: Do you think this is a nudge, uh, for for for Stallana here.
• 9:37
  [SPEAKER_01]: That's interesting.
• 9:38
  [SPEAKER_01]: It's a good take and no take.
• 9:39
  [SPEAKER_01]: What do you see here?
• 9:42
  [SPEAKER_02]: Yeah, I mean, I guess right below it is that Samsung is is really interesting to me.
• 9:48
  [SPEAKER_02]: I know we're talking about JP Morgan, but Samsung news from a distribution perspective, think about, I think they've like 80 some million devices with access that'll be with stable coins.
• 10:00
  [SPEAKER_02]: You know, people don't necessarily need to understand salon or blockchain.
• 10:03
  [SPEAKER_02]: They just need a payment experience that's fast, cheap, and easy.
• 10:07
  [SPEAKER_02]: And that's exactly how crypto becomes
• 10:10
  [SPEAKER_02]: So, so the Samsung news actually was really interesting to me, and I didn't even pick up on this until I saw you add it to the sheet today, and it got my wheels turned in a little bit.
• 10:21
  [SPEAKER_02]: I was like, this is like one of those like undercover things that we really should be toys about for Solana.
• 10:29
  [SPEAKER_02]: this is not like a small partnership.
• 10:31
  [SPEAKER_02]: This is that we're going to, all the devices with Samsung, all the utilization of stable coins.
• 10:36
  [SPEAKER_02]: I mean, people aren't going to care eventually if it's on Solana or what blockchain, and it's just one stuff that's easy and the user experience is easy, and Samsung's pushing forward with it.
• 10:45
  [SPEAKER_02]: So I do think it's going to be a good, nudge long term for Solana.
• 10:49
  [SPEAKER_02]: I don't think we're going to see a flash out, 15% candle on the
• 10:58
  [SPEAKER_01]: uh... but i think long-term this is just another feather and so on is cap cap to uh... keep on moving yeah a lot a lot of bullet snooze on this week in perfect timing to because we actually with brand and yesterday we just recorded uh... great interview with the CEO of soul strategies so we've had uh... soul strategies on before but we've never had the CEO so it's great to have him in
• 11:21
  [SPEAKER_01]: Um, and talk all things kind of salana, what they're building with salana and a lot of acquisitions that they're making to, you know, again, be it, be it, be a dad in the space that's very bullish and working on salana.
• 11:32
  [SPEAKER_01]: So that's an episode that's going to be coming out in a couple weeks, which is perfect.
• 11:35
  [SPEAKER_01]: Because I feel like this news, uh, and that interview is perfect timing because I feel like we've been, uh, I don't know ignoring salana because it's been, you know, it's had a good, good run, uh, with everything else, but it hasn't been a focal point.
• 11:45
  [SPEAKER_01]: You really haven't seen it stand out.
• 11:48
  [SPEAKER_01]: And this is definitely some bullish news around that project and then it kind of all all kind of leads to This topic here the Chinese super cycle.
• 11:57
  [SPEAKER_01]: I thought this was a really interesting take.
• 11:59
  [SPEAKER_01]: It's a quick clip It's only 16 seconds long, but it's kind of teeing up how you know last cycle for sure And the previous cycles there was this you know the talk out of China was banned crypto banned Bitcoin
• 12:13
  [SPEAKER_01]: And against this type of technology being a communist state, and I think this kind of take is like, well, if that changes, if that flips, you know, the Chinese economy obviously huge, and if that kind of the oil and gas, that could lead us into a super cycle.
• 12:33
  [SPEAKER_01]: So let's take a listen and we can kind of toss it around.
• 12:37
  [SPEAKER_00]: When the Chinese government find a way to manage is an allow access to training crypto and allow the technology to be used by various companies, a Chinese company or cross-border trade, I think the crypto is going to go through another super cycle.
• 12:53
  [SPEAKER_01]: when the so quick take very simple but it's something that I guess covering the space now for a long time and being in the space even longer before the podcast it's something that I always kind of is like okay well you know China's not going to be buying Bitcoin dealing with Bitcoin you know they don't want their citizens using it trading it just to hear this kind of a national TDA kind of just dumb as like oh interesting the tides might be turning
• 13:21
  [SPEAKER_02]: Yeah, you know what loves liquidity good old crypto man like when you get a little bit of a nudge with liquidity crypto loves it and if China becomes more aggressive in supporting our economy, it could all absolutely support the global risk app appetite.
• 13:36
  [SPEAKER_02]: I don't I mean, this guy's calling it a possible super cycle.
• 13:40
  [SPEAKER_02]: I'm all for it, but money needs to flow into that risk assets and preferably crypto, which I think.
• 13:46
  [SPEAKER_02]: that area will flow into a lot more crypto.
• 13:49
  [SPEAKER_02]: So that thesis will have to develop, but I don't think I'm not against this take by any means.
• 13:56
  [SPEAKER_02]: If we see more liquidity, it could certainly flow into crypto or at least more risk on assets.
• 14:03
  [SPEAKER_02]: So I'm here for it, man.
• 14:05
  [SPEAKER_01]: Yeah.
• 14:05
  [SPEAKER_01]: Yeah, it's one of those things where it's like this snowball effect, um, and that is certainly one that could snowball and in turn to quite an avalanche, super cycle, uh, if you will, uh, Robin Hood.
• 14:18
  [SPEAKER_01]: I know you covered this on the market updates.
• 14:20
  [SPEAKER_01]: We don't talk about it too long, but, uh, long time coming here, $25 million worth of Bitcoin, going to be, uh, or is added to the Robin Hood balance sheet, finally holding some Bitcoin, be interesting to see, um,
• 14:33
  [SPEAKER_01]: You know, the continuous buy obviously for a company like Robinhood 25 million dollars is not a lot of money.
• 14:39
  [SPEAKER_01]: It's it's you know, quote unquote to drop in the bucket, but it's interesting to see they finally did it.
• 14:46
  [SPEAKER_01]: It's something that they've been talking about to pull the trigger here at this price level.
• 14:50
  [SPEAKER_01]: Is it something that it's going to be maybe a reoccurring buy because again, you're you're below 100k and you're you're seeing that long term growth.
• 14:58
  [SPEAKER_01]: Your take will give us the summary of your market update this week.
• 15:02
  [SPEAKER_02]: Yeah, I think it's, I think it's pretty good news.
• 15:04
  [SPEAKER_02]: I mean, 25 million's nothing to Robin Hood, but their, um, curb ride or curb ride.
• 15:10
  [SPEAKER_02]: I, I, I, but the name of everyone.
• 15:12
  [SPEAKER_01]: Yeah, you're on curb ride.
• 15:14
  [SPEAKER_02]: Yeah, curb ride.
• 15:15
  [SPEAKER_02]: Um, I definitely, you're on Joe Han, Joe Han curb ride.
• 15:19
  [SPEAKER_02]: Yeah, I butcher this name.
• 15:20
  [SPEAKER_02]: I think in the market update, but the, the point is, they basically say he's going to put his money where his mouth is.
• 15:25
  [SPEAKER_02]: So he's just saying that Robin Hood's moving more into the crypto space.
• 15:29
  [SPEAKER_02]: We've already seen signs of that.
• 15:31
  [SPEAKER_02]: Uh, they start off like as like a traditional stocks and traditional assets and now they're moving into crypto and even on the market update, we're getting news that Coinbase is moving more into traditional stocks and those two really feel like they're they're becoming competitors with one another Robinhood and Coinbase and kind of trying to do the same thing.
• 15:50
  [SPEAKER_02]: I think I even tagged on the market updates.
• 15:52
  [SPEAKER_02]: They both want to be the everything gap.
• 15:54
  [SPEAKER_02]: and I think there's a world where they both have the opportunity to do the exact same thing, competition is good.
• 16:00
  [SPEAKER_02]: I think both can thrive, but I think the symbolism of them buying and putting Bitcoin on their balance sheet is a pretty big move.
• 16:09
  [SPEAKER_02]: I would imagine we could probably see more buys throughout the year.
• 16:13
  [SPEAKER_02]: I think it's great for Robin Hood.
• 16:15
  [SPEAKER_02]: I think it's great for Bitcoin and Bitcoin Maxis is or Bitcoin holders.
• 16:20
  [SPEAKER_02]: Even though it's not a huge dollar amount, I think that
• 16:23
  [SPEAKER_02]: continue to increase.
• 16:25
  [SPEAKER_02]: And what we're just starting to see, you know, if this happened Tvo just two, three years ago, Bitcoin would have fired up individually 20% candle.
• 16:36
  [SPEAKER_02]: You know, they would be like Robin Hood's putting 25 million on it.
• 16:40
  [SPEAKER_02]: People have been losing it.
• 16:41
  [SPEAKER_02]: So,
• 16:42
  [SPEAKER_02]: It's just one of those things that we're becoming more mature within the crypto area where we're going to see more companies add Bitcoin to their balance sheet something that we want because we know the fixed supply the whole the whole Thesis behind the digital gold putting Bitcoin on your down balance sheet and it's going to eat up just like the ETFs are it's going to eat up the amount out there and effectively it's applying demand and drive the price up
• 17:08
  [SPEAKER_02]: So even though we didn't see the huge wick up because of this, I think from a symbol standpoint, this is great to see from Robin Hood, and I think they're going to continue to do it.
• 17:18
  [SPEAKER_01]: Yeah, it's again, it's going to be something to cover.
• 17:21
  [SPEAKER_01]: I mean, they're now holding Bitcoin on their balance sheet.
• 17:24
  [SPEAKER_01]: They're building, they're building on Ethereum, right?
• 17:28
  [SPEAKER_01]: Um, so yeah, it's just, it's an exciting time.
• 17:31
  [SPEAKER_01]: It's something that I think we've projected, obviously, uh, Robinhood near and dear to my heart, uh, for the long time listeners of crypto crypto 101, uh, given out that call.
• 17:42
  [SPEAKER_01]: Um, yeah.
• 17:43
  [SPEAKER_02]: So it's going to, it's going to be all over you, dude.
• 17:48
  [SPEAKER_01]: Oh, I don't think he's stuck around, but what we love him we hope he did, you know, we hope we love We like all the negative and positive ones, we believe in the negative, lean into the negative
• 18:03
  [SPEAKER_01]: How about this, a little playoff, a Bitcoin Z-Cash, the Z-Cash ETF, the Winkle Vost wins.
• 18:10
  [SPEAKER_01]: Just filed for a Z-Cash ETF, exactly 13 years after dropping the first ever spot Bitcoin ETF.
• 18:17
  [SPEAKER_01]: So fun fact, 13 years ago when the Winkle Vost wins first dropped a spot Bitcoin ETF filing, it was $100 per coin.
• 18:26
  [SPEAKER_01]: Bitcoin was about $100 per coin.
• 18:31
  [SPEAKER_01]: So, you know, obviously Z-Cash, a lot higher right now, sitting about $1,200, if you will.
• 18:39
  [SPEAKER_01]: But people are speculating the belief is there, and the Z-Cash train maybe hasn't fully left the station yet.
• 18:48
  [SPEAKER_02]: I drink the Z-Cash cool-aid and I get nervous when I start drinking the cool-aid, but I really do.
• 18:55
  [SPEAKER_02]: I mean, I think the Z-Cash ETF is pretty remarkable development considering where we were just a few years ago with privacy coins in the type of crap that used to get essentially.
• 19:06
  [SPEAKER_02]: Now we're always talking about this institutional investments.
• 19:10
  [SPEAKER_02]: designed around financial privacy at its core.
• 19:13
  [SPEAKER_02]: So it's another major narrative shift.
• 19:15
  [SPEAKER_02]: It's great to see that the Winkle Boss twins, who are sharp guys.
• 19:19
  [SPEAKER_02]: They know what they're doing.
• 19:20
  [SPEAKER_02]: They definitely do their due diligence.
• 19:22
  [SPEAKER_02]: I think Gemini's going to be the custodial of this Z-Cash super low fees too.
• 19:28
  [SPEAKER_02]: I think I saw like 0.25 percent.
• 19:30
  [SPEAKER_02]: uh... it's gonna create even more demand more headlines for z-cash uh... i like to a lot of people call z-cash is like private bitcoin because it kind of mimics of tokenomics of bitcoin uh... i love that story around it
• 19:45
  [SPEAKER_02]: I mean, this pullback was E-Cash just over like the past week, 10% makes me want to jump out at a little bit more.
• 19:52
  [SPEAKER_02]: So you might see a little bit of movement from me in the Z-Cash world because I like the privacy narrative and just this continued institutional interest, just further
• 20:04
  [SPEAKER_02]: makes my thesis within my own head get stronger and stronger because there's a lot, you know, it's tough to kill something that gets a lot of institutional interest and Z-Cash is certainly becoming like one of the top privacy tokens out there and I think it really has room to grow.
• 20:20
  [SPEAKER_02]: What are your thoughts?
• 20:21
  [SPEAKER_02]: We've never really talked about what are your thoughts on Z-Cash as a whole.
• 20:26
  [SPEAKER_01]: I'm, you know, from my perspective of being the social guy, I thought it was amazing how the storyline kind of came out of, I don't want to say nowhere, because obviously there's been a lot of believers in it, I'm sure, but it really took over the timeline out of nowhere, and it came out of nowhere, and it got the hype and the price action.
• 20:44
  [SPEAKER_01]: And then the drawdown that we covered on the show with the exploit, and then I'm sitting there, kind of like,
• 20:54
  [SPEAKER_01]: Well, you know, Brian's really bullish on it like I bought the dip there, but I didn't I didn't I'm not going to lie I didn't full port into that one because I was like I don't know like as a social guy like this is pretty bad like this this storyline, but then as you said, you educated everybody the way they fixed it was the right way to go about it.
• 21:13
  [SPEAKER_01]: And it kind of got that height back on, um, which is great.
• 21:17
  [SPEAKER_01]: I'm trying to get, uh, I've kind of came to think Cipherpunks is the name of their, uh, their hedge fund where they're all about Z-Nash, trying to get them back on before the end of the year.
• 21:29
  [SPEAKER_01]: Um, because I think the story, the story lines there and you have a lot more, um, you know, people working on the quantum.
• 21:36
  [SPEAKER_01]: There's another thing on our sheet is they, they're, they have teams working on this stuff.
• 21:41
  [SPEAKER_01]: And, and I think there's a little bit more maybe agreement in the direction of it.
• 21:44
  [SPEAKER_01]: Would you agree with that?
• 21:46
  [SPEAKER_02]: Yeah, they feel like they're at the forefront of this, you know, quantum, this quantum and quantum resistance and quantum computing I could spend a whole run down talking about this because I actually spent quite a bit of a podcast we recently recorded talking to a guy.
• 22:01
  [SPEAKER_02]: who really educated me on it, but I like that developers are being proactive rather than waiting for serious quantum threat to emerge, and we're starting the testing issue between working towards quantum resistance to actually being fully quantum safe.
• 22:16
  [SPEAKER_02]: We're not there yet, but ZKASH
• 22:18
  [SPEAKER_02]: feels like they're kind of moving.
• 22:20
  [SPEAKER_02]: They're one of the ones that are moving fast on this.
• 22:23
  [SPEAKER_02]: And with how they handle the exploit, how they kind of handle, and now they're getting institutional interest and now they're moving towards another touchy subject within the crypto space around quantum and quantum computing and quantum resistance, whatever we want to call it.
• 22:38
  [SPEAKER_02]: It makes me even more booed up on Z-Cash and where we're headed.
• 22:42
  [SPEAKER_02]: So excited to continue educating myself here, but it's a good move by their team in my opinion because if they can like fully, like this quantum stuff quantum computing is certainly going to be a threat eventually in a few years and it's not just crypto, this is like every walk of life.
• 23:01
  [SPEAKER_02]: So to be like one of the first and one of the only to be fully quantum resistant and then you can just like like themes and marketing can really carry a coin up price goes up I think they could really lean into that you know private bitcoin or quantum resistant just tell such a good story in my eyes and I've actually sort of using
• 23:23
  [SPEAKER_02]: Uh, we did it for a private meeting within our group and I, I educated myself how to use the cash and how do you steal the transactions and answer a transparent transactions and it's really smooth and I didn't really have a lot of experience there.
• 23:37
  [SPEAKER_02]: I like the coin, I like the thesis, but I never really understood like,
• 23:40
  [SPEAKER_02]: of hands on how it all worked, and I always looked at Minero because they were like one of the big privacy coins as well, and they just haven't caught the bidsie cash has, and Minero is like fully private.
• 23:51
  [SPEAKER_02]: There's no transparency, so I think that's why a lot of these institutions are leaning in to Z cash, because we have the option to be transparent, to have shielded transactions.
• 24:00
  [SPEAKER_02]: So they just have this full product.
• 24:03
  [SPEAKER_02]: In the way they handle that exploit that just makes me really believe that they're doing a lot of good things.
• 24:08
  [SPEAKER_02]: Does that mean that the price is going to go up or they're going to crush all time highs and it's going to do everything we hope we have no idea.
• 24:15
  [SPEAKER_02]: I don't know the future, but they seem to be doing all the right things right now and that's including making it hopefully fully quantum safe.
• 24:24
  [SPEAKER_01]: Yeah, it's a good point.
• 24:25
  [SPEAKER_01]: I can't add anything to it because I defer to you and the team on the Z-Cash fundamentals.
• 24:32
  [SPEAKER_01]: But yeah, they still have the social media hype and the narrative and the ETF filing from Wink of all twins.
• 24:38
  [SPEAKER_01]: Wink of all twins is just another point on that scoreboard.
• 24:42
  [SPEAKER_01]: uh... something that i talked about last week i said bit mine was going to have a big announcement i was just wondering what it was tomley was kind of teasing at it uh... and that i believe they did it i think this might have been it uh... basically was so so bit mine is basically promising to stop buying if uh... when they reach that five percent the alchemy of five percent as they call it um... you know he he enjoys saying that you know they obviously started buying
• 25:07
  [SPEAKER_01]: early and they bought through the bear market through the dip.
• 25:09
  [SPEAKER_01]: So I think they, you know, at least for their thesis, they love their average cost.
• 25:15
  [SPEAKER_01]: But some people, so there's two sides of this.
• 25:17
  [SPEAKER_01]: So there's people like an Ethereum saying, oh, man, like that's going to stop the buying pressure.
• 25:22
  [SPEAKER_01]: Because Bitcoin has been a great buying, consistent buying.
• 25:25
  [SPEAKER_01]: But then there's the bitmind bulls saying, well, this is great because it's not going to dilute, you know, our shares.
• 25:31
  [SPEAKER_01]: They're not going to, you know,
• 25:32
  [SPEAKER_01]: Sell shares to raise money to then go buy and this kind of buying super cycle that maybe people might compare to microstrategy so it's an interesting take I think the bit mine other anybody using bit mine full port and is a Tom Lee believer is just you know they just believe what Tom Lee says, but I think it was a cool.
• 25:51
  [SPEAKER_01]: Um, or at least an interesting kind of announcement to say, Hey, here's, here's where we're going.
• 25:56
  [SPEAKER_01]: Here's our thesis, here's our roadmap, and here's exactly what we're doing.
• 26:00
  [SPEAKER_01]: So, you know, as Ethereum rises, the price rises are falls, you know, obviously that'll affect bit-mind stock, but with them kind of having that reoccurring revenue, it's going to be interesting to see maybe what they do with that money.
• 26:14
  [SPEAKER_01]: as it comes in over the years as as they wait for the price to rise in a cruel court in their thesis.
• 26:21
  [SPEAKER_01]: So any take here?
• 26:23
  [SPEAKER_02]: Man, you nailed it.
• 26:25
  [SPEAKER_02]: Everything you said, I'm on the same page.
• 26:27
  [SPEAKER_02]: This is truly a double hedge, double edge sword.
• 26:32
  [SPEAKER_02]: You got a bit mine that's, you know, but once you accumulate 5% of Ethereum, it's a tremendous endorsement.
• 26:39
  [SPEAKER_02]: On the other hand, you're gonna probably lose one of the bigger or more consistent buyers in the market, but it's like a damned if you do damned if you don't sort of deal.
• 26:46
  [SPEAKER_02]: Like we all are like bashing Michael Salar for buying too much Bitcoin or holding too much Bitcoin.
• 26:52
  [SPEAKER_02]: And then we don't want to buy as much or be as big of a part, you know, I like the transparency of Tom Lee and Bitmine.
• 26:59
  [SPEAKER_02]: You know, they said, hey, we're going to acquire 5% of Ethereum, which is an huge amount.
• 27:05
  [SPEAKER_02]: And we're going to stop there.
• 27:06
  [SPEAKER_02]: So he's being very transparent before they turn off the faucet.
• 27:09
  [SPEAKER_02]: And you're exactly right.
• 27:10
  [SPEAKER_02]: What do they get to do with that revenue?
• 27:12
  [SPEAKER_02]: I don't think they're going to be bearish on Ethereum, holding 5%, surely they're still
• 27:21
  [SPEAKER_02]: So I see the pros, I see the cons, and I think it's got land pretty much somewhere in the middle, but you know, I'm bullish on Tom Leam where what he's trying to do.
• 27:30
  [SPEAKER_02]: I mean, the guy was doubling down in the bear market and hats off to him because we're all a little scared there with a theorem for a little bit.
• 27:36
  [SPEAKER_02]: Myself included, especially with like all the treasuries and it was kind of getting a little ridiculous and he just kept plugging along and buying and they like their average buy.
• 27:45
  [SPEAKER_02]: They're going to
• 27:46
  [SPEAKER_02]: create get tons off of staking and we'll see how it all develops, but your take was spot on.
• 27:56
  [SPEAKER_01]: Thank you.
• 27:57
  [SPEAKER_01]: Thank you, my friends.
• 27:57
  [SPEAKER_01]: Sorry.
• 27:58
  [SPEAKER_01]: I was trying to tee up our next topic as we move on.
• 28:01
  [SPEAKER_01]: So again, something that will continue to cover the bitmind, but not a super fun topic, but one that we like to cover when there's news like this to just keep everybody aware.
• 28:10
  [SPEAKER_01]: So I was doing some research that's why I froze, but so apparently the ledgers investigating a report of some lost funds involving users in Southeast Asia who purchased devices specifically
• 28:26
  [SPEAKER_01]: Yeah, I have because I have a ledger right and I know a lot of people in our community probably have ledgers and Here's here's the official tweet from ledger support and this was for this morning
• 28:43
  [SPEAKER_02]: it seems less it's less of a hacker and exploit and more of a fishing attempt.
• 28:50
  [SPEAKER_02]: You know what I mean?
• 28:50
  [SPEAKER_02]: You should never buy a ledger from a reseller.
• 28:54
  [SPEAKER_01]: That's what I kind of wrote.
• 28:55
  [SPEAKER_01]: I know in our community if you kind of join the 101 true level one of it.
• 28:59
  [SPEAKER_01]: It's like we kind of teach you safe exchange list.
• 29:02
  [SPEAKER_01]: We teach you about wallets and
• 29:04
  [SPEAKER_01]: You know, the number one thing in the wallet course is do not buy it off of a reseller, you know?
• 29:11
  [SPEAKER_02]: We don't know about your personal legend from Amazon, you know?
• 29:14
  [SPEAKER_02]: Yeah, you don't lie for it off of eBay.
• 29:16
  [SPEAKER_01]: like we have a worldwide show as we know people across the world listen to crypto 101 so if you recently bought something of a ledger off of anything recently double check your process but if specifically bought something from crypto billis be very aware dive into that ledger support thread and and make sure that your funds are safe but
• 29:39
  [SPEAKER_01]: Again, I think just to reiterate if you have a ledger and it's, you know, you bought it from the company and you have your safe practices.
• 29:47
  [SPEAKER_01]: Everything should be fine.
• 29:47
  [SPEAKER_01]: It's more of a fishing attempt more than anything.
• 29:50
  [SPEAKER_02]: Yeah, it's exactly that.
• 29:52
  [SPEAKER_02]: And that's the unfortunate thing.
• 29:54
  [SPEAKER_02]: When you're in crypto and you're investing crypto and you're utilizing self custody, you are going to be some sort of a target, even if people don't know if you all would crypto.
• 30:03
  [SPEAKER_02]: You just could be a target because there's these fishing attempts.
• 30:06
  [SPEAKER_02]: I get emails from my treasurer and and ledger how many times you get a call from like Coinbase or Gemini I telling you that like someone's trying to get into your account.
• 30:14
  [SPEAKER_02]: You just ignore all of those things because that's That's just a fishing attempt.
• 30:18
  [SPEAKER_02]: They become more sophisticated social scams.
• 30:21
  [SPEAKER_02]: It sucks But it just is what it is.
• 30:23
  [SPEAKER_02]: That's why you you have to be extremely diligent like Tvo said that we try to educate our community as much as we can and One of the things that we always talk about is
• 30:32
  [SPEAKER_02]: If and when you buy a hardware wallet, you should buy it directly from the company, because somebody could activate it, get those private keys, repackage it pretty easily, and you think you're getting a brand new one, but once you put funds on that, they could take them away.
• 30:46
  [SPEAKER_02]: It sucks for people, but it's just another reason to be extra careful in this space.
• 30:52
  [SPEAKER_01]: Yeah, couldn't agree more before we move on to our last topic shout out to the chat.
• 30:57
  [SPEAKER_01]: We got yolo.
• 30:57
  [SPEAKER_01]: We got holy whale a couple of others over 110 people stopped by to check out the live today.
• 31:02
  [SPEAKER_01]: So we really appreciate everybody that did that one last call.
• 31:06
  [SPEAKER_01]: Give it a thumbs up if you're new bottom right subscribe a shout out to the chat being active.
• 31:10
  [SPEAKER_01]: We appreciate you guys being here on a fun Friday afternoon.
• 31:13
  [SPEAKER_01]: One fun topic before we leave the Netflix Hollywood loves crypto.
• 31:18
  [SPEAKER_01]: Brian the official trailer.
• 31:20
  [SPEAKER_01]: for the FTX scandal movie has dropped.
• 31:25
  [SPEAKER_01]: I seriously haven't watched it.
• 31:27
  [SPEAKER_01]: I was going to watch a little bit live on air.
• 31:29
  [SPEAKER_01]: Have you watched this yet?
• 31:30
  [SPEAKER_02]: Yeah, man, but you sent a message in the telegram that had me rolling.
• 31:37
  [SPEAKER_02]: That was very funny.
• 31:38
  [SPEAKER_02]: Like, I thought it was very, very funny.
• 31:40
  [SPEAKER_02]: And I didn't think of it.
• 31:41
  [SPEAKER_02]: And I was like, my guy TV was always making me laugh.
• 31:44
  [SPEAKER_01]: yeah man uh... so we've got uh... you know sandbagman freed and and Caroline Ellison uh... are are portrayed in this in this movie it's kind of a love scorn prodigies behind the ftx scandal and they cast Caroline Ellison is Julia Gardner and i said uh... quite quite quite a nice uh... casting uh... for Caroline she's going to be on top of the world so i don't know what we're not going to watch two minutes on it let's check out the
• 32:13
  [SPEAKER_04]: Caroline, I'm going to give you eight languages or a better percentage of your chips.
• 32:17
  [SPEAKER_03]: So the game is about analyzing risk only.
• 32:20
  [SPEAKER_04]: You could lose everything.
• 32:21
  [SPEAKER_03]: Going all in every time is the mathematically optimal strategy.
• 32:26
  [SPEAKER_04]: That's her.
• 32:26
  [SPEAKER_03]: That's her.
• 32:27
  [SPEAKER_04]: She's really cool.
• 32:29
  [SPEAKER_04]: I was sad that I am going to make it different.
• 32:32
  [SPEAKER_03]: I believe you.
• 32:34
  [SPEAKER_04]: What if we build our own crypto currency business?
• 32:36
  [SPEAKER_03]: We can call it G. Do you know anything about crypto?
• 32:43
  [SPEAKER_04]: It's the Wild West out there.
• 32:45
  [SPEAKER_04]: Whoever gets their first has the opportunity to do something real good.
• 32:48
  [SPEAKER_04]: A quick deal of fun that burns, to give.
• 32:50
  [SPEAKER_03]: We are going to, too.
• 32:55
  [SPEAKER_03]: Where the cook guys?
• 32:57
  [SPEAKER_03]: Remember?
• 33:00
  [SPEAKER_03]: I can trust.
• 33:01
  [SPEAKER_04]: It trusts me, right?
• 33:08
  [SPEAKER_01]: All right.
• 33:08
  [SPEAKER_01]: Hollywood loves crypto.
• 33:09
  [SPEAKER_01]: Hollywood.
• 33:10
  [SPEAKER_01]: Hollywood in crypto.
• 33:12
  [SPEAKER_01]: The quick summary for me there is they are turning this into kind of like a Bonnie and Clyde love story.
• 33:18
  [SPEAKER_01]: It seems.
• 33:19
  [SPEAKER_01]: Which you know, that sells, that's sells.
• 33:21
  [SPEAKER_01]: So I get it, I don't, I don't know, there's something I'll probably tune into.
• 33:26
  [SPEAKER_01]: It's sorry, it's not a movie folks.
• 33:27
  [SPEAKER_01]: It's a limited series usually meaning like probably what five to eight episodes maybe.
• 33:34
  [SPEAKER_01]: I think you're gonna find that they're gonna be kind of portraying this as a love story.
• 33:38
  [SPEAKER_01]: And I wonder where that mass fraud kind of enters the chat and then obviously Caroline will flip on on the sandbank and free to the end.
• 33:47
  [SPEAKER_01]: Are you a treat, Brian?
• 33:49
  [SPEAKER_01]: What are your thoughts there?
• 33:51
  [SPEAKER_02]: Yeah, I'm intrigued, I think a lot of people in crypto are probably watching it from the good and bad, but the frustrating thing once again is that, you know, there's going to be a mainstream audience that gets some sort of introduction to crypto or sort of a crypto and it's going to be behind where the industry's biggest frauds.
• 34:11
  [SPEAKER_02]: It's certainly to be entertaining, but people will hopefully understand between the technology and the people who abused it.
• 34:18
  [SPEAKER_02]: I mean, those FTX days were dark days, Tvo.
• 34:21
  [SPEAKER_02]: That was the one time I told you.
• 34:23
  [SPEAKER_02]: I've said it so many times.
• 34:24
  [SPEAKER_02]: I was like, man, I might have like really misread this crypto stuff because there's so many people we're getting wiped out.
• 34:32
  [SPEAKER_02]: Tom Brady's all over the place.
• 34:34
  [SPEAKER_02]: Losing hundreds of millions.
• 34:36
  [SPEAKER_02]: Stuff curry.
• 34:36
  [SPEAKER_01]: FTX or Nina, down at Miami?
• 34:39
  [SPEAKER_02]: Oh dude it was so bad and I was like this this is just such a bad set up for crypto overall but again we actually made it stronger in my opinion but I want to put those days behind me but it makes for for a hell of a series so I mean I'll tune in um
• 34:59
  [SPEAKER_02]: I'm sure I'm going to get some family and friends that are that have always wanted to talk about crypto with me and they'll watch this and become experts all of a sudden and talking to me about how like crypto's crypto currency is fraudulent little they know it's just you know.
• 35:18
  [SPEAKER_02]: the this ftx and same bankman for eight and carolina i mean those were the real frauds there and uh... there they were never really checked or vetted uh... nobody really i mean it sucks but i'm good check it out why not oh yeah you know the resemblance is there with the glasses yeah yeah i don't actually don't hate it
• 35:42
  [SPEAKER_01]: Yeah, she's got to be on top of the world.
• 35:44
  [SPEAKER_01]: Julie, a guard in front of the show.
• 35:45
  [SPEAKER_01]: We miss her, we love her.
• 35:46
  [SPEAKER_01]: We hope she comes on.
• 35:47
  [SPEAKER_01]: Maybe we can get a Julie guard or on the show, a little interview.
• 35:49
  [SPEAKER_01]: That'd be great.
• 35:51
  [SPEAKER_02]: Yeah, that would be awesome.
• 35:52
  [SPEAKER_02]: I wonder, I wonder how much she has to hold crypto, right?
• 35:54
  [SPEAKER_02]: It'd be Caroline's actually, this could, dude, okay, this could happen.
• 35:58
  [SPEAKER_01]: Caroline Ellison on a press store could end up in our inbox.
• 36:02
  [SPEAKER_01]: I think Julia Gardner probably less than 1% chance, probably the same chance of me going to the moon, but I think Caroline, we could maybe put that at like a 20, 25% chance, a little press store before the the film comes out.
• 36:18
  [SPEAKER_02]: You know, she wants to really get her point across, and I think it's worth at least a few pulled emails sent out to her.
• 36:27
  [SPEAKER_01]: Yeah.
• 36:29
  [SPEAKER_01]: Yeah, it looks supposed to look like the most terrifying creature alive made her look like a teacher's assistant.
• 36:34
  [SPEAKER_01]: That's Hollywood, baby.
• 36:36
  [SPEAKER_01]: That's how it does.
• 36:37
  [SPEAKER_01]: Brian, if I was in a movie, who would play me?
• 36:43
  [SPEAKER_02]: Oh, I don't know, man.
• 36:45
  [SPEAKER_02]: I can't.
• 36:45
  [SPEAKER_02]: I can't.
• 36:46
  [SPEAKER_02]: Ben Affleck.
• 36:48
  [SPEAKER_01]: I like it, I like it, a lot of people say Tom Sagarra would be the, uh, the highlight.
• 36:53
  [SPEAKER_02]: You know, I, I'm not going on that Tom Sagarra stuff.
• 36:56
  [SPEAKER_02]: I mean, you've told me that in person.
• 36:58
  [SPEAKER_02]: I don't like that.
• 36:59
  [SPEAKER_02]: You know, but you do have, you do have, uh, uh, you're funnier than good old Tommy.
• 37:04
  [SPEAKER_02]: He funny guy.
• 37:04
  [SPEAKER_02]: Oh, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no,
• 37:18
  [SPEAKER_01]: Maybe like the accountant Ben Afflack like a mid teens Ben Afflack 2000 you know the 2010s Afflack
• 37:30
  [SPEAKER_02]: That's a young gaff, like dude, I like that, you know, because they've been here about the same age right now, so that's uh, you know, I've been really not the, not the, not the baff, like smoke in the heater, that's like always like so.
• 37:42
  [SPEAKER_01]: Before that, before it off fell apart, but he's got next.
• 37:45
  [SPEAKER_01]: He's got next, he's got next.
• 37:47
  [SPEAKER_01]: He's got next.
• 37:48
  [SPEAKER_02]: He's got more edge than me for sure.
• 37:50
  [SPEAKER_02]: He's seen some stuff.
• 37:51
  [SPEAKER_01]: You know, I got to stay.
• 37:52
  [SPEAKER_01]: I got to stay the people love this conversation.
• 37:55
  [SPEAKER_01]: We're at our light of the live as we're finishing off talking about this.
• 37:59
  [SPEAKER_01]: Uh, you know, what can I say?
• 38:01
  [SPEAKER_01]: The people love us.
• 38:01
  [SPEAKER_01]: We really appreciate everybody tuning in now.
• 38:04
  [SPEAKER_01]: If you like Brian, you like me, give us a thumbs up.
• 38:06
  [SPEAKER_01]: If you're new here, bottom or right.
• 38:08
  [SPEAKER_01]: Uh, I hope to subscribe.
• 38:09
  [SPEAKER_01]: We have a lot of fun every week breaking down all the crypto news and then obviously just here.
• 38:13
  [SPEAKER_01]: We've got some fun, we'd like to have some banter.
• 38:16
  [SPEAKER_01]: That's gonna be all for us today.
• 38:17
  [SPEAKER_01]: We hope you really, really enjoy the weekend, get out there and enjoy touch a little grass.
• 38:22
  [SPEAKER_01]: We're gonna have a full slate of shows next week.
• 38:24
  [SPEAKER_01]: We got interviews, we got two rundowns.
• 38:27
  [SPEAKER_01]: We'll see you then, but that's all for now.
• 38:29
  [SPEAKER_01]: Bye everybody.