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Global Tech Outage vs Crypto!🔥Bitcoin & Ethereum Prices Climb!🚀 · The Paul Barron Crypto Show

• 0:07
  Major tech outages plague the United States and around the world, and of course
• 0:11
  you have to compare that to blockchain and what this could look like should something
• 0:16
  like this happen even further. We'll break it all down for you guys.
• 0:19
  You don't want to miss it today. My name is Paulbera. Welcome back
• 0:21
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• 0:52
  All right, let's go over to a couple of points here. I'm just
• 0:54
  going to hit on the topic here. This was global outages, banks,
• 0:57
  media, airports, payments systems impacted. Australia's government is talking about it for
• 1:03
  emergency meetings. You can see lots of nine one ones, et cetera.
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  I want to go to a clip real quick. This will kind of give
• 1:07
  you a full understanding of what happened in this outage. Take a look crowdstrikes
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  suffering a major outage overnight. If you're just waking up, you might be
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  seeing it on your own screen. With what's called the blue screen of death.
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  You're looking at the impacts. Part of the impacts at least right there
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  on your screen. Flights grounded. It is not exaggerating to say that this
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  is the biggest IT outage the world has ever seen. The banks knocked offline,
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  media outlets off the air. American Airlines, Delta, United, other
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  major carriers were taken offline completely last night and grounded all of their flights.
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  As you mentioned, you know the border crossings. The cars snaked up behind
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  the border, and so that will take hours, if not days to resolve.
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  Probably still going to be discovering things well well into next week. So
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  far, there are customer face here limited to one a portion of our one
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  portion of our or not operating otherwise. The tolls are being collected. Bad
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  news for some people I know crowd Strike is already down by fourteen percent.
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  Microsoft is down by two and a half percent at this point. CEO George
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  Kurtz saying on x this is not a hack or some kind of cyber attack.
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  CrowdStrike pushed out an update He said that caused the outage. I want
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  to personally apologize to every organization, every group, and every person who's been
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  impacted by this. Are we talking hours? Are we talking days? They
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  have to literally go computer by computer, an it professional, computer by computer
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  to reverse this. So I could easily see this being days or weeks of
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  systems down from the airlines to the bangs that ops on your phone. Have
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  we ever seen anything like this? I have not in the twenty years I've
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  been doing this. This is the worst I've seen this. Diar did not
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  get to Azure. If there was a customer that was running in Azure that
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  had our software, it could have been impacted. But you do not know
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  whether this is impacted Azure or not. Well, when you say Azure and
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  I can't turn on, I can't get into my computer. On this we're
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  experiencing massive technical difficulties which have left us unable to do a newscast tonight all
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  of our computers have gone down. This is kind of a systematic thing.
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  But you're going to know some changes in our broadcast. It's going to be
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  a little simplified today, including by the way, some of ours here at
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  NBC. I'm here at the New York stock has change. Our CNBC computers
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  are going to require somebody apparently to come and actually do some sort of an
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  update manually. So I'm still looking at the balloon screen of desk of death.
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  Haven't gotten a call from them just yet. CrowdStrike today becomes a household
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  name, but not in a good way. You offered an apology to me.
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  An apology means that therefore you are culpable and therefore you will be shoot.
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  Could you imagine if this were to happen during the COVID times, how
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  much activity has moved online to the banks and how much they invested in cloud
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  infrastructure public and private. At JP Morgan, for example, some ecceffers were
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  unable to log on at hedge funds. They have not been able to process
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  certain trades across many funds. I think Hong Kong, South Africa, Singapore.
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  This software is all about preventing attacks and potentially that is a green light
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  for bad actors to come in and start trying to attack the IT systems for
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  companies and government entities around the world. In terms of the JP Morgan private
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  back outlook, there is definitely a need for the investing into infrastructure, either
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  digital or physical, and I think the news this morning is just highlighting that
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  this even stronger. Is there a different way to do it? All?
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  Right? So you got to see it. This is a huge issue,
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  and it's one that obviously was caused by cloud strike on the update. But
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  I guess the key thing here is whether all alternatives could have been in play,
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  and I think this is where blockchain starts to maybe open a a lot
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  of people's minds. You just look at this US Aviation Authority requiring all fights,
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  all flights to land due to the computer glitch. So I don't know
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  if this is a day's weeks, who knows how long this is going to
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  take for them to resolve this, But you look at just the impact that
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  that had on the US. This is just showing some of the patterns in
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  which flights were being grounded and obviously now we're going to see this in all
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  sorts of industries including banking, etc. Well, with that being the case,
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  some of the things you have to look at is what's happening with gaming
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  consoles, what's happening with Microsoft all of that. Of course, Microsoft still
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  at odds with the FTC, especially after update on the game pass price increase.
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  And remember this was one of those things where the FTC and Microsoft had
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  finally come to somewhat of an agreement, and it looks like they're going to
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  be fighting again. So it's interesting how connected all of these industries are,
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  especially when you have one piece of software that pretty much controls about eighty percent
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  of the business computing systems in the world, and that being Microsoft, so
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  big impact overall. Let's see which to centralize. Blockchain is hosted on Azure
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  and this is just kind of having some interesting statements here a thirnity. This
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  is why I thirty has been building for the past five years. This is
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  one a good example. A right, the one thing you could look at
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  is atm machines right here, withdrawal is not possible. Again, this puts
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  a lot of pressure on the banking system. This is where of course crypto
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  blockchain goes into overdrive, and that is peer to peer payments. You can
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  do that right now on the blockchain, So that is an advantage of course
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  that I think a lot of it professionals and companies in general may start to
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  take a much harder look. This could be one of the biggest advantages for
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  blockchain being advanced into technology faster than anything. Remember when we saw covid hit,
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  we saw the acceleration of a lot of industries going to online e commerce
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  because of people not being able to go out, and I think that could
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  be one of the factors that plays into this, especially as being a global
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  event. Living a time when one company software update causes global infrastructure, obviously
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  this doesn't end well. I would agree this kind of diversification needs to take
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  place now. This is where I think blockchain continues to win, and this
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  might be something that given enough pain, which I think there will be,
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  this could actually cause some pretty significant chain of course, Bitcoin is pumping after
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  this global outage for obvious reasons because it's a digital peer to peer payment system.
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  You also have all sorts of other tokens out there, including Salana,
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  ethereum. Pretty much almost everything today on the crypto markets have been moving.
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  Other factors within this right here is the government also taking a look at this.
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  Senator loomis here, do you know what form of currency hasn't been affected
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  by these outages? Well, there it is Bitcoin and other blockchains so huge
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  on the forefront here. Decentralized networks like bitcoins shine amid this kind of disruption,
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  and you know, I think this is something that maybe just maybe the
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  people that are understanding how decentralized you know technologies work as a whole, and
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  if you look at you know, cloud compute as a whole, render all
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  the different types of tools out there that get into decentralized this where deep in
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  comes into frame, We'll probably see a lot more investigation and I think execution
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  on those kinds of projects going out there. They noted that the blockchain networks
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  remain fully functional, which is what the Internet must become. Totally agree there,
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  widespread outage is ignited a conversation about the centralization of the Internet with the
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  crypto community all right. Last up in this article crypto betters. This is
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  on polymarket, also putting their money kind of on the variation here. Odds
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  were at about eighty nine percent that it's going to be fixed by Friday.
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  Night. If you look at actual polymarket right now, it's hovering around what
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  is this forty two percent chance, so getting less and less a potential of
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  this getting fixed. And again the longer this happens, the more pain this
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  is going to inflict on a lot of industry. And I think this continues
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  to push the blockchain technology narrative forward. Other things I want to hit on
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  here. Cybersecurity cannot fix it's broken security now. Crowds guide strikes software has
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  blown up the very it it means to protect. This is the course is
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  dominant coming over from ICP platforms on host online applications are immune to cyber attack
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  all right. Further into this, if you look at where things like decentralized
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  cloud compute goes, it makes you think and a lot of people are now
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  in concern of this is AI that also could play into this of decentralizing AI.
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  Here's render talking about global IT outage and the need for more decentralized physical
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  infrastructure networks deepend. So you guys have seen a lot of our videos on
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  that. If you haven't watched those videos and you're brand new to crypto,
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  make sure and smash the like button right now. And go back and just
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  search the word deepend DPI in on our channel, you'll find a whole slew
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  videos that you can kind of get in to really understand on what this might
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  means, including mobile networks. All sorts of opportunity here, because remember this
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  is just the beginning potentially of something like this. When you get so centralized
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  and so dependent, this is what happens, and these are the things that
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  maybe could isolate blockchain and decentralize physical infrastructure in a whole new way. So
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  lots of opportunity here, I think for blockchain. Moving on to the ETHTF,
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  because this is the thing I'm a little bit concerned about, is does
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  this affect the ETHTF rollout next week? If claustrack can't get this result over
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  the weekend, I'm sure they're going to be pushing hard. But there are
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  some issues that people are of course looked at. And remember we still have
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  some things going on with the ETHTF. Here's James Saifer. We had some
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  of the ethtfs added today to Bloomberg today. This is ETHW coming from Bitwise,
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  ce eth coming from twenty one Shares, and f ETH coming from Fidelity.
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  So you guys will be able to look those hopefully on month you'll be
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  able to look at them tomorrow. But which is today trading still set to
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  go next week, so a lot happening there. Update gray Scale also just
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  filed there a minute s one and basically this was a rate change from point
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  five to point one five. I don't think that's enough yet, because everybody
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  is now on a marketing push to get this out there, and I think
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  we're going to have several of the organizations and the asset managers on next week
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  to really talk about this and why this is so important and where ETH could
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  be going in a short period of time. Remember, there's a lot of
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  positions right now that might end up getting liquidated tonight, so be on the
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  lookout for ethereum. A little bit later, exchange outflows one hundred and twenty
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  six million worth of ETH was withdrawn. People are setting up for this,
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  and of course this is potentially a huge rally signal that we could continue to
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  see. And if you look at just where ETH is right now, look
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  at the trajectory of it, the availability of it, and also the potential
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  of where we see these asset managers starting to push out in marketing which I
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  think opens up a whole new framework around just awareness. We could see pretty
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  big days ahead on ethereum ETF. Let's take a look at this last clip.
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  This is Brian Dixon. He's going into a little bit more around the
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  ETHTF versus the Bitcoin ETF Infloce. Take a look. I do stand by
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  my statements that I think we'll see much larger allocations towards the tail end of
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  this year early next year with the bitcoin ETFs. The reasoning for that,
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  like I've noted before, is that the largest investors in the world have very
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  long due diligence timelines, So the sovereign wealth funds, the pinch and plans,
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  the endowments. These groups can take twelve to eighteen months to complete their
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  due diligence timelines, pass through their investment committees, educate their clients before they
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  can ultimately make large allocations. And I think that's what we're still waiting on.
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  I think with what occurred with Trump over this last weekend is actually maybe
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  going to accelerate the process of digital assets and more allocations to bitcoin, and
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  we're seeing that right now. How with the inflows into the bitcoin ets,
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  I would expect the same thing to happen in regard to the Ethereum ets.
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  I think on those will launch, we'll see an inflow. Initially, we'll
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  see a big bump of allocations happening, and then for the larger institutional investors
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  that's going to probably take twelve to eighteen months to go through their diligence timelines
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  again before we could potentially see some larger allocations from those groups of investors.
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  One other thing, if you think about the amount of banks that have really
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  struggled when you look at the fintech market, the collapse of course of many
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  regional banks. This of course is the whole narrative that Larry Fink talks about,
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  and that's why I think we're seeing black Rock push so hard on being
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  able to go to something like Ethereum and other blockchains out there for decentralized assets
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  and also real world assets that start to move into shifting the financial system as
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  a whole, and back to the point of what's happening today in terms of
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  these outages, this would solve a lot of those kinds of scenarios, which
• 13:56
  is a big opportunity for us to go to the next level. So make
• 13:58
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• 14:11
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• 14:13
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• 14:16
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