Latest / The Paul Barron Crypto Show / Coinbase Moves To ETH!🔥Robinhood vs Coinbase🔥SHOTS FIRED!

Transcript

Coinbase Moves To ETH!🔥Robinhood vs Coinbase🔥SHOTS FIRED! · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Shots fired at eh Denver. We are talking about the
• 0:02
  Speaker 1: Battle of the Titans today and you are not going
• 0:05
  Speaker 1: to want to miss it, so stick around. I do
• 0:07
  Speaker 1: want to thank our sponsor today. It is of course BTCC.
• 0:10
  Speaker 1: You guys can get in and very easily start your
• 0:13
  Speaker 1: trading journey over there, do a lot of different things
• 0:16
  Speaker 1: including copy trading, shorts, lungs, you name it. It's all
• 0:19
  Speaker 1: available over on BTCC using our link down below. You're
• 0:22
  Speaker 1: going to get a ten percent bonus on your first
• 0:25
  Speaker 1: time deposits, so take advantage of that. Get out there.
• 0:28
  Speaker 1: While these markets are volatile, now is the time to
• 0:30
  Speaker 1: be able to get in and make some of these
• 0:33
  Speaker 1: swing trades or possibly go in some of these lungs
• 0:35
  Speaker 1: or shorts, depending on your assets. So check it out
• 0:38
  Speaker 1: use our link down below. Let's go over to the leader,
• 0:40
  Speaker 1: and of course the leader right now is Robinhood. The
• 0:43
  Speaker 1: thing that has happened with Robinhood is they of course
• 0:46
  Speaker 1: announced the new chain that is going to be driving
• 0:49
  Speaker 1: all of their growth. And when you look at just
• 0:51
  Speaker 1: already we've seen a whole slew of different projects coming
• 0:56
  Speaker 1: in and of course one of them was stock Exchange
• 0:58
  Speaker 1: and that of course is centered right there around uniswap
• 1:02
  Speaker 1: v three as a concentrated platform. So this will be
• 1:06
  Speaker 1: interesting to see more developers coming into this and how
• 1:09
  Speaker 1: quickly do they come in that's the thing that everybody's wondering.
• 1:13
  Speaker 1: If you look at the chain test net stats, you
• 1:15
  Speaker 1: can go right over here to active accounts. In just
• 1:18
  Speaker 1: a short period of time, they cracked one hundred thousand
• 1:22
  Speaker 1: active accounts. To me, that's pretty significant during this time
• 1:28
  Speaker 1: when you look at the market being as depressed as
• 1:31
  Speaker 1: it has been, and Robinhood comes out and drops this
• 1:35
  Speaker 1: into the industry, and I think has done a really
• 1:37
  Speaker 1: good job in making it known. Let me go to
• 1:41
  Speaker 1: a clip because this was Johann of Robinhood talking about
• 1:44
  Speaker 1: their success. Take a look.
• 1:46
  Speaker 2: We launched it last week. The response so far has
• 1:48
  Speaker 2: been super good. Almost a million while it's created on
• 1:51
  Speaker 2: the test nets, four point five million transaction and it's
• 1:54
  Speaker 2: been super fun to look at what people have been building,
• 1:56
  Speaker 2: the developers. You know, it's just the beginning. It's not
• 1:59
  Speaker 2: even been a week. We saw a purpstax, we saw
• 2:03
  Speaker 2: spot des Obviously some people are starting to build things
• 2:05
  Speaker 2: around it for yield and lending. So so far it's
• 2:08
  Speaker 2: it's been pretty fun.
• 2:09
  Speaker 3: Do you think all of those people are robin hood
• 2:13
  Speaker 3: users or they're crypto people that want to get into
• 2:17
  Speaker 3: Robinhood's chain, or it's a mix.
• 2:19
  Speaker 2: I think it's a mix. The idea that you can
• 2:21
  Speaker 2: get twenty six million using it is pretty exciting, so
• 2:24
  Speaker 2: I understand why you know some people are building.
• 2:28
  Speaker 1: All right, So let's be honest. This is really about distribution.
• 2:31
  Speaker 1: It has been always. Anytimes you have developers going out,
• 2:35
  Speaker 1: they have to have distribution. One of the things that
• 2:38
  Speaker 1: has really centered around distribution and successful distribution in the
• 2:41
  Speaker 1: past was, of course the partnerships that Base was doing
• 2:45
  Speaker 1: with a variety of different L twos. One of course
• 2:47
  Speaker 1: was optimism. This is kind of a funny graphic with optimism. Yeah,
• 2:52
  Speaker 1: you're still going to see you later, and that was
• 2:55
  Speaker 1: the case optimism. Of course, after the situation where Base
• 2:58
  Speaker 1: has stepped away from op plunges double digits, this is
• 3:03
  Speaker 1: a problem because it starts to center around other use
• 3:06
  Speaker 1: cases on optimism that may end up leaving the chain
• 3:10
  Speaker 1: with Base of course exiting. Because remember, just like that
• 3:13
  Speaker 1: last clip, the key here for Base and a lot
• 3:16
  Speaker 1: of these partners was the distribution that coinbase would offer
• 3:21
  Speaker 1: in bringing it out, So that is a huge problem
• 3:24
  Speaker 1: I think for OP in general, Optimism loss ninety four
• 3:27
  Speaker 1: percent of the super chain revenue overnight. Base generated six
• 3:30
  Speaker 1: point eight million monthly and now keeps all of it.
• 3:33
  Speaker 1: So Optimism mainenet does one hundred and sixty K. So
• 3:37
  Speaker 1: they granted Base one hundred and eighteen million tokens worth
• 3:39
  Speaker 1: one hundred and seventy five million AT's signing. The point
• 3:42
  Speaker 1: is is this was not a great deal for OP.
• 3:44
  Speaker 1: I think this is a problem going forward. And I
• 3:47
  Speaker 1: think the issue right now is a lot of these
• 3:49
  Speaker 1: L twos. If you don't see the writing on the wall,
• 3:52
  Speaker 1: then you probably should start paying attention here because I
• 3:54
  Speaker 1: anticipate and I think most everybody else does, these chains
• 3:57
  Speaker 1: are going to start to migrate into the platforms for distribution,
• 4:02
  Speaker 1: just like what we're seeing right now with Robin Hood
• 4:05
  Speaker 1: other things. Of course you got to look at and
• 4:07
  Speaker 1: that is of course, and yes ZK is inevitable. They
• 4:10
  Speaker 1: are moving from optimistic to ZK proofs. That'll be the
• 4:12
  Speaker 1: future of where a bass is going. There was an
• 4:15
  Speaker 1: interview at ETH Denver and it was with Jesse Pollock,
• 4:18
  Speaker 1: and if you guys know, he is the basically the
• 4:21
  Speaker 1: architect for Base and I think pretty much the dev
• 4:25
  Speaker 1: front guy, the guy who's getting projects to connect to
• 4:28
  Speaker 1: coinbase and the base chain. But of course they had
• 4:32
  Speaker 1: some very interesting things to ask him.
• 4:34
  Speaker 4: Take a look.
• 4:35
  Speaker 5: There are hard parts as a builder to deal with
• 4:38
  Speaker 5: the trenchers. You've been getting kind of beat up in
• 4:41
  Speaker 5: particular about like trading and focusing on trading right It's
• 4:45
  Speaker 5: it's been on Slana, But I think that we've honestly
• 4:47
  Speaker 5: been slowed down by that cultural bias. Kennidley, I'll be
• 4:51
  Speaker 5: the first to admit that I actually started with a
• 4:52
  Speaker 5: similar bias, like I've never been a trader, and I
• 4:55
  Speaker 5: think that that caused me to almost like lack some
• 4:57
  Speaker 5: empathy of what do traders want?
• 4:59
  Speaker 2: What are they seeing?
• 5:00
  Speaker 5: And then not just what do they want what are
• 5:02
  Speaker 5: they seeing, but also what value are they bringing to
• 5:04
  Speaker 5: the economy. I think we underfocused on traders of twenty
• 5:07
  Speaker 5: twenty five. I think my perspective is we need to
• 5:10
  Speaker 5: fig like we need install that we need to bridge
• 5:12
  Speaker 5: the gap. I think the first place I approach it
• 5:15
  Speaker 5: from is like we don't have it figured out, and
• 5:18
  Speaker 5: no one has it figured out all.
• 5:19
  Speaker 1: Right, So Jesse's responsor I thought was terrible was a disaster,
• 5:22
  Speaker 1: I think in the sense of you have to focus
• 5:24
  Speaker 1: on traders. That was the question that they had directly
• 5:27
  Speaker 1: to him, is how you're not focused on the trenchers.
• 5:29
  Speaker 1: And if you look at other chains that have been
• 5:31
  Speaker 1: able to do that, Salana as a good example, they've
• 5:33
  Speaker 1: been able to absolutely kill it. If you look at
• 5:35
  Speaker 1: Base in general. Of course, we know what's happening right
• 5:38
  Speaker 1: now as the decline is occurring, and right now the percentage,
• 5:42
  Speaker 1: especially on active addresses. Because now we're seeing Robinhood with
• 5:45
  Speaker 1: their new chain accelerate in the first week. I wonder
• 5:48
  Speaker 1: what this is going to look like in thirty days,
• 5:50
  Speaker 1: sixty days, ninety days with Robinhood. We'll check back on
• 5:54
  Speaker 1: that because I think that will give us a big
• 5:55
  Speaker 1: indication of how things are going in this area. And
• 5:58
  Speaker 1: one of the big mistakes I think that Base made
• 6:00
  Speaker 1: and coinbase in general was virtuals. Virtuals did not necessarily
• 6:04
  Speaker 1: get listed for some time. This would have been one
• 6:07
  Speaker 1: of the key attributes, I think, especially in the prime
• 6:10
  Speaker 1: time of a what was then a bull market. And
• 6:14
  Speaker 1: this was a post from October twenty fourth, That's how
• 6:18
  Speaker 1: long it took for that to actually go forward where
• 6:22
  Speaker 1: we saw agent tokens come live on Coinbase. That was
• 6:25
  Speaker 1: a big mistake and I think it is now showing
• 6:27
  Speaker 1: why we didn't see the trenchers really start to adapt
• 6:31
  Speaker 1: into what's going on with the Base chain. Let me
• 6:33
  Speaker 1: go to another clip, because this was Jesse Pollock also
• 6:36
  Speaker 1: talking a little bit further about the strategy that they
• 6:39
  Speaker 1: want to take forward on Base. Take a look.
• 6:42
  Speaker 5: Building a dedicated stack for Base, which I'm super excited about.
• 6:45
  Speaker 5: It's gonna less scale, more aggressively, equally secure or secured
• 6:48
  Speaker 5: by ethereum. If I had one theme for twenty twenty six,
• 6:51
  Speaker 5: it would be a year of like, focusing on our customers.
• 6:56
  Speaker 1: Okay, so I don't understand that. I'm assuming that you're
• 7:00
  Speaker 1: focusing on customers all the time. Maybe before it was yes,
• 7:04
  Speaker 1: you wanted developers, you want new projects, but I think
• 7:07
  Speaker 1: now to focus on customers that should, in my opinion,
• 7:10
  Speaker 1: should have been the case all along. Speaking of developers,
• 7:14
  Speaker 1: when you look at the Base Shane, this is of
• 7:16
  Speaker 1: course one of the presentations they did there, and the
• 7:19
  Speaker 1: point behind this is this is a paid growth model
• 7:22
  Speaker 1: for devs to get your product out in front of
• 7:25
  Speaker 1: the distribution which looks in feels a lot like and
• 7:29
  Speaker 1: I remember correct. I thought this was going to be
• 7:30
  Speaker 1: free for devs to be able to do this. But
• 7:33
  Speaker 1: this looks a lot like what's going on over on
• 7:35
  Speaker 1: Apple within their app store. So I don't know about this, guys.
• 7:40
  Speaker 1: I'm very spec skeptical as to how this plays out.
• 7:43
  Speaker 1: All right, So other interviews there at E Denver. One
• 7:47
  Speaker 1: of them was with the Robinhood team and they had
• 7:50
  Speaker 1: some interesting statements about the base chain. Take a look.
• 7:54
  Speaker 3: I'm going to ask you kind of like a bit
• 7:55
  Speaker 3: of a spicy question because there's a certain other exchange
• 7:58
  Speaker 3: out there that also has a chain. I don't think
• 8:00
  Speaker 3: they fully executed well funneling their users to said chain.
• 8:05
  Speaker 3: How do you think about funneling the Robinhood users to
• 8:08
  Speaker 3: use this chain?
• 8:11
  Speaker 2: I have no idea which a company you're talking about.
• 8:17
  Speaker 3: They're here, so I'm going to play nice. There's a
• 8:20
  Speaker 3: lot of general purpose chains out there, but I don't
• 8:22
  Speaker 3: really think that's what Robinhood's going to be. It's going
• 8:24
  Speaker 3: to be definitely financially aligned, right.
• 8:26
  Speaker 2: Yeah, we really want to do anythinger on the finance.
• 8:30
  Speaker 1: When you take a look at what Robinhood has been
• 8:32
  Speaker 1: focused on. They've had a very clear vision. It has
• 8:34
  Speaker 1: really always been about democratizing finance. Here's what they had
• 8:38
  Speaker 1: to say about this with a new plan take a look.
• 8:42
  Speaker 6: So democratizing private markets is very personal to me, and
• 8:45
  Speaker 6: at Robinhood we stand for access for a higher portion
• 8:48
  Speaker 6: of the value is accruing to a small group of
• 8:50
  Speaker 6: wealthy individuals.
• 8:51
  Speaker 5: Fundamentally unjust that retail investors can have their choice of
• 8:55
  Speaker 5: all kinds of asset classes, including the coins.
• 8:58
  Speaker 6: The companies like Data Bricks are not.
• 9:00
  Speaker 4: That's the mole to retail customers.
• 9:01
  Speaker 6: Agree with all that except the part about mean coins
• 9:04
  Speaker 6: because I'm just giving you a hard time. I know
• 9:05
  Speaker 6: you love them. We've been on this quest for well
• 9:08
  Speaker 6: over five years now. We've looked under every rock, we've
• 9:11
  Speaker 6: excavated every crevice, and we believe we found it. So
• 9:14
  Speaker 6: introducing Robinhood Ventures, all right.
• 9:17
  Speaker 1: So one of the things they were talking about there
• 9:19
  Speaker 1: is the Venture Fund, and the Venture Fund is basically
• 9:22
  Speaker 1: a project that would allow you to invest in private
• 9:24
  Speaker 1: companies for the first time. Instead of being a credited
• 9:27
  Speaker 1: investor like you mostly have to be with going into
• 9:30
  Speaker 1: private companies, this would start to change that. That's exactly
• 9:34
  Speaker 1: where they're going, and of course they I think hit
• 9:37
  Speaker 1: it on the head here in this clip about how
• 9:39
  Speaker 1: big is this really?
• 9:41
  Speaker 4: Take a look in a typical VC fund management team
• 9:45
  Speaker 4: would take twenty percent of the extra billion dollars of
• 9:49
  Speaker 4: upside Robinhood is doing away with the carty. Are they
• 9:53
  Speaker 4: going to be able to do as well as the
• 9:56
  Speaker 4: typical VC company does. My guesstimate to that would be
• 9:59
  Speaker 4: that they're go to do even better because of Robinhood's
• 10:02
  Speaker 4: exposure and vlawed in particular, and being in the heart
• 10:06
  Speaker 4: of Silicon Valley, which is where a lot of these
• 10:08
  Speaker 4: companies are often based from. And the additional thing that
• 10:12
  Speaker 4: is I can't tell you how fantastic it is, is
• 10:15
  Speaker 4: the ability to be able to exit your investment in
• 10:18
  Speaker 4: these private companies at any given time. Currently I have
• 10:22
  Speaker 4: multiple fund investments and I'm probably never going to do
• 10:24
  Speaker 4: this again. The opportunity for even rich people to invest
• 10:29
  Speaker 4: in these private investment funds, it's still better to invest
• 10:33
  Speaker 4: through the robin Hood Fund. Another example of Robinhood innovating,
• 10:37
  Speaker 4: just kicking butt, really being there for their customers and
• 10:40
  Speaker 4: lowering the fees on all this stuff.
• 10:43
  Speaker 1: I'm in agreement with that because this is a problem. I'm,
• 10:47
  Speaker 1: you know, a small business investor. I'll go out into
• 10:50
  Speaker 1: businesses that are growing and it's very difficult to get
• 10:53
  Speaker 1: off of the cap table unless they sell or they're
• 10:55
  Speaker 1: you know, doing some sort of tranch of new new
• 10:58
  Speaker 1: investment rounds, and you can sell into that. The fact
• 11:01
  Speaker 1: that you can do this now or will be able
• 11:03
  Speaker 1: to do this inside the venture fund that is very
• 11:05
  Speaker 1: enticing for people that have never maybe people that have
• 11:09
  Speaker 1: never done this, but I think even more so for
• 11:11
  Speaker 1: people who have done this and have seen the problems
• 11:14
  Speaker 1: of trying to exit a company that could be a
• 11:17
  Speaker 1: big deal. The fact that they're not taking it off
• 11:19
  Speaker 1: the top, that's going to be very competitive to the
• 11:20
  Speaker 1: VC firms in Silicon Valley Man sand Hill Road. They're
• 11:24
  Speaker 1: coming for you right now. Speaking of retail, one of
• 11:27
  Speaker 1: the things that Robinhood has is a very unique angle
• 11:31
  Speaker 1: on the data on what investors want.
• 11:33
  Speaker 6: Right.
• 11:34
  Speaker 1: Well, here's Tom Lee talking about this. He's talking about
• 11:37
  Speaker 1: this fund in general of how he thinks it might do,
• 11:39
  Speaker 1: especially when it comes to retail. Take a look.
• 11:41
  Speaker 7: Since COVID retail investors have gotten a lot right. I
• 11:46
  Speaker 7: think the reason they get it right they don't care
• 11:49
  Speaker 7: about daily P and L as an existential issue. They're
• 11:53
  Speaker 7: really working with permanent capital, like it's their money, so
• 11:56
  Speaker 7: they're willing to own something for two years, three years. Today,
• 11:59
  Speaker 7: most instant to investors have thirty days as their time horizon.
• 12:04
  Speaker 7: One second or five seconds is considered a long holding period,
• 12:07
  Speaker 7: So a lot of funds are literally just churning through stocks.
• 12:11
  Speaker 7: Retail investors are just trying to find good ideas.
• 12:13
  Speaker 2: Institutions then have to sort of chase into it to
• 12:16
  Speaker 2: keep up.
• 12:17
  Speaker 7: It's usually a battle ground stock like Palententeers an example,
• 12:20
  Speaker 7: or Netflix that was heavily shorted by institutions but bought
• 12:24
  Speaker 7: by retail. And then, as you know, a very famous
• 12:26
  Speaker 7: one was game Stop, even Tesla were battleground stocks where
• 12:30
  Speaker 7: retail was a very big supporter. Institutions tended to use
• 12:34
  Speaker 7: it as a source of funds. There is usually a
• 12:37
  Speaker 7: break point and the stock can re rate higher. I
• 12:41
  Speaker 7: don't know, I've seen retail get a lot of names right.
• 12:43
  Speaker 7: We're even debating whether to make it an investment product.
• 12:47
  Speaker 1: This will be interesting because if you think about retail
• 12:50
  Speaker 1: getting a lot of names, right, what he's talking about there,
• 12:53
  Speaker 1: this could manifest inside of the venture fund with Robin
• 12:57
  Speaker 1: and where you could see retail activity actually picking the
• 13:00
  Speaker 1: winners and losers that institutions end up playing on later
• 13:04
  Speaker 1: for liquidity, which is what he's talking about there.
• 13:06
  Speaker 4: This is going to be.
• 13:07
  Speaker 1: This is flipping the table for sure on how new
• 13:10
  Speaker 1: age stocks and also how funds are going to be
• 13:13
  Speaker 1: drawn in the future for sure. One thing that of
• 13:15
  Speaker 1: course is unique and different around this year's ETHH Denver
• 13:20
  Speaker 1: was guess who showed up the SEC? Take a look?
• 13:23
  Speaker 8: Would anybody have believed that we would have the chairman
• 13:27
  Speaker 8: of the SEC and a crypto task force?
• 13:32
  Speaker 9: What do you think about the falling crypto prices of
• 13:34
  Speaker 9: late Should we panic or should we even care?
• 13:37
  Speaker 10: What has something happened during lunch out?
• 13:39
  Speaker 9: No doubt number go down is kind of the mantra
• 13:42
  Speaker 9: of the moment, and some crypto critics are dancing in
• 13:45
  Speaker 9: the streets about it. In this context, however, maybe we
• 13:47
  Speaker 9: should call it something like three glee or Eth below two.
• 13:54
  Speaker 8: Legislatively, there's some concern that clarity may not make it
• 13:58
  Speaker 8: through in the worst case outcome that we don't get
• 14:01
  Speaker 8: it this year. What is the SEC's plan.
• 14:04
  Speaker 10: I think it will happen and so I do too.
• 14:06
  Speaker 2: But let's say it didn't.
• 14:07
  Speaker 10: But right, so whatever if it doesn't. As I mentioned,
• 14:10
  Speaker 10: Mike Selig is at the CFTC. Where we can draw
• 14:14
  Speaker 10: these lines is between the two agencies, and we can
• 14:17
  Speaker 10: work it out.
• 14:18
  Speaker 9: You have to build stuff that people want and need.
• 14:20
  Speaker 9: That's the best way to garner support on both sides
• 14:23
  Speaker 9: of the isle in Washington.
• 14:25
  Speaker 1: Okay, the first part of that was a little cringe
• 14:28
  Speaker 1: let's just call it a little cringe worthy. Wrong place,
• 14:31
  Speaker 1: you know, wrong time, I think. But the point that
• 14:34
  Speaker 1: we're getting to at the last I think was important,
• 14:36
  Speaker 1: and that of course was you know, Paul Atkins right
• 14:38
  Speaker 1: there said it out loud. We don't really care. We're
• 14:41
  Speaker 1: going to make this work anyway with the CFTC. He's
• 14:43
  Speaker 1: talking about clarity and it going through I think though.
• 14:46
  Speaker 1: Now we're dealing with a clarity option that is much
• 14:49
  Speaker 1: more possible, happening very soon. So stick around for all
• 14:53
  Speaker 1: that stuff. It's about to happen, guys, So get ready.
• 15:02
  Speaker 1: If you like this video, hit like and subscribe, drop
• 15:05
  Speaker 1: a comment down below, and also join our free private
• 15:08
  Speaker 1: member group. The links in the description