New Bitcoin ATH’s in 12-18 Months? – Crypto Happy Hour

by birtanpublished on August 24, 2020

On it Savoy crypto Bobby I hope you were having a great day great night wherever you are watching or listening in from apologies for the earlier issues on the stream I had to update my video driver and I was streaming with software and apparently that just does not work well

At all so hopefully this is a lot of better quality but yeah today want to talk about a bunch of different things so number one want to talk about the ECJ market update that came out for September of 2019 which is what the

Title is based off of they talked about the potential for new Bitcoin all-time highs in the next 12 to 18 months some of the things that a macro level that might prevent that from happening as well as why they believe that that

Actually will occur if the macro events do not shake out in the way they say so that's one thing I want to talk about I also want to talk about what is happening right now with the crypto industry at large where you now have

Coin base which is starting to offer USD customers what they're calling API rewards but basically coin base is becoming a bank and relatively funny because crypto is kind of the land of of you know Bank the unbanked but also

Trying to get rid of the bank's you know long Bitcoin short bankers when some of the biggest companies in crypto right now are are becoming basically banks so we'll talk about that and then I also want to discuss some of what's happening

Right now with discount brokerages not sure if you've seen not sure if you paid attention but e Trade TD Ameritrade some of the largest discount brokerage at discount brokerage is out there in the traditional finance world have

Eliminated fees for trades you know typically you used to see like Scottrade each raid seven dollar trades ten dollar trades that type of thing a lot of advertisements on that and now those companies have actually as of this week

Basically all gonto to zero trading fees and I do think that you might see in this scenario you might actually see crypto exchanges start to trend toward zero a little bit as well depending on how competition works out so it will

Be interesting to watch that and we'll talk about that in it today's episode as well so as a quick shout-out to if any of you are watching right now and you're looking for a new job in crip dive one job in particular that you might be a

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Hear from you go to proof of talent Co slash careers and you can get started there but let's hop into the kind of start of today and by the way I didn't realize this when I was actually going to when I was going to the grocery store

But I'm wearing my my Montauk Brewing shirt because I they're the most comfortable shirts out there but I went there for crypto happy hour to buy Montauk beer so I probably went in there and looked like an actual app salute

Jackass and I continue that trend by looking like a Montauk beer sales rep on YouTube live so that's where we're at right now but got my Montauk pumpkin out because I had to get a six-pack attack so I love it it's delicious it's

Wonderful it's great beer if you guys want to sponsor the podcast always feel free so getting into today's discussion iki dry asset management which is led by Travis cling or Travis is the CIO chief

Investment officer who I'm sure a lot of you guys have seen on on TV rocks to suit very well I've been getting their market updates for a long time at Travis on the podcast way back with Rocco and this is one of my favorite thing so I'll

Put it in the in the YouTube comments as well I would highly highly recommend giving it a read it is one of the most comprehensive outlooks on the specifically Bitcoin market but just generally the crypto asset industry they

Talk about all coins as well but really gives a very thorough look into what they see at a high level happening within the industry where they think things are going and how they think things will end up handing out for

Example in the last in the last month so in their September first update Travis had said you know we believe that a higher likelihood outcome in this short term is a further correction down to seven and a half to eight eight eight

Seven point five to eight point five K what exactly happened in the month of September after that September first update Bitcoin crashed to seven and a half thousand it is now sitting in the eighty two hundred dollar range so it's

Literally sitting in that range that they had generally predicted which you know goes to show at least at a high level the relative kind of capability and and the the worthiness of some of the research so specifically what I

Thought was interesting about the report when you get to the end of the closing period they talk a lot about the global macro landscape they talk about the Argentine peso they talk about some of the things that are happening with the

Euro with Germany's with Germany's bonds as well as the overall negative yields that are happening as some of the global macro phenomenons that are occurring at this point but so they save this from a Bitcoin perspective we see compelling

Evidence to believe we are in approximately the top of the second quarter of a cyclical bull market an uptrend that will eclipse previous all-time highs by a wide margin in the next 12 to 18 months so for the

Guy that was in the comments saying I'm a clown on YouTube because I said new bitcoin all-time high in the next 12 to 18 months that's what I was talking about ya jackass but now I'm just kidding

But you're our jackass but so getting back into it they talked a little bit about in their view the number one risk they see to halting this next Bitcoin bull market cycle would be a global risk off shift in the coming months they

Believe that a global risk off shift is the only thing that's strong enough to stop the Bitcoin train right now if the VIX the volatility index goes to 35 bitcoins price will likely significantly just decline so they talk about really

The only thing that they see at a macro level that is able to stop Bitcoin from eclipsing previous all-time highs is if you see this huge macro risk off shift and I do think it's relatively interesting for a couple different

Reasons number one it kind of gets back to the debate of whether or not bitcoin is at risk off or risk on asset and in this case you would see that you know if they believe that it's not going to eclipse all-time highs if there is a

Shift you know if there's a risk off shift then it might not be what a lot of people talk about with the debate around risk on risk off but also if we go down so like I said it's a super comprehensive report we can kind of

Delve into a bunch of different information within this but this chart in particular I think is really really interesting so let's pull it up so it does go to show a little bit around my facedown goes to show what they would

Consider a bull market a bear market accumulation expansion re accumulation and then having and so that's kind of how they've traditionally described these market cycles is these five part market cycles that have been sliced by a

Having which is obviously supply reduction coming on to the new market from miners so when you have that you're looking at when you have the when you have the supply reduction that has typically started off a new bull market

Period at least in their view and from from their kind of view frame as well as how they've broken down the chart so over the next where we're at 12 to 18 months so May of 2020 at this point in time if if things shake out how they

Have in the past we would over the next 12 to 18 months until May of 2020 being a phrase of quote-unquote real cumulation where the bottom might look to be somewhere along the line of let's say 6500 dollars so if

That breaks below that might be in trouble but it looks like according to what iki I and their team has looked at we're gonna be in this Rica Malaysian phase where we're gonna be kind of stuck between $14,000 and $6,500 and then

Beyond that when you see post having that is when you might see a massive run-up they have here traditionally from from history obviously past performance isn't always always the best indicator for the future but in the future

According to their chart a bull run post-2020 post having might take Bitcoin all the way up at a peak mania to about seventy thousand dollars you and so I will put a link to the I'll put

A link to the description so I put that once if you guys want to check that again I highly recommend it you can subscribe it's uh it's just super good research you can make your own determinations and they take mostly

A Bitcoin specific approach but they also talk about you know how some how alt coins might relate to Bitcoin they've talked about really a massive pullback in liquidity as well just the overall market not looking great from a

Liquidity standpoint with kind of things pulling back pretty substantially they talk about bull cases they talk about bear cases so I think it's one of the best monthly updates that you'll see when it does come down to actually

Trading crypto assets and something that you would likely enjoy there one of the best I think funds out there when it does come down to just putting out public information so hopefully you enjoy that

One let me know if you read that too but hopping in to the next you know to the next thing that one of the what's up nasty J what one of the new things that occurred today was coinbase so coin base is now offering will pull it up here one

Point two five percent on one point two five percent APR on your USD that you hold on coin base or eur/usd coin that you hold on coinbase so somewhat interesting but but it is somewhere where you can get interest way higher

Elsewhere so I think that there's there's a couple different ways you can look at that number one I think there's this whole within the crypto space but also within the just FinTech space as well there is a big push towards all

These companies getting as much AUM or assets under management as possible they want you know they want your money because as soon as they have your money they could do a variety of things with it but with coin base right now so

They're they are providing you one point two five percent APR or APY they're calling it on its us the coin it's actually not us DC I mean it's us DC it's not us dollars which is a differentiator there in general but

This will likely increase the I would say that the amount of of us DC that's in circulation and potentially increase the amount of increase the amount of US DC DLC circulated but if we pop over to loan scan 1.25% is definitely not it's

Long scanned org maybe not if we pop over to loans can do excuse me and if we look at the interest rate that you receive on USD see elsewhere it is much higher so if we look at USD C you can actually get whether it's 8% on Nexo

9.25% on celsius crypto comm 6% although some of these coin list at 5.8 percent compound at five point three so I'm curious '''l in in the long run if this is something where you would be looking at coin based taking your money that you

Keep it and paying you one point two five percent but actually perhaps lending that back out and making the difference like let's say they were to Quinn base was to take that dollar that you received give you one point two or

If she made one point zero two percent one point zero two five per one point two five percent I am numbers I need more beer my heads fried today but take that money and then they could earn a lot more for that down the road so I'm

Curious exactly how they're gonna make money from it but it at a high level I think it's gonna start to show this kind of macro trend that's crypto companies are going to try to be banks that's really what it does come down to you

Have crypto companies doing it you have these fin tech companies that are doing it a lot of these companies in the US and maybe abroad I'm not sure what where you might be located as well but companies that started off with pretty

Narrow use cases in the past things like a betterment or a wealth front or a Robin Hood they're all expanding into these different areas so Phi as well they're all expanding into these different kind of all encompassing areas

Where they're fighting for this like millennial consumer where they want your money so that they can just continually sell you different services and kind of monetize their relationship in the long run and that you know that starts with

Something like so Phi that originally was loans student loans for MBA students at Stanford and then started with student loans than personal loans and then like credit cards and now they expanded into crypto so

Kind of it all along the same lines that there's just continual expansion and I think coinbase kind of recognizes where they are and they're trying to expand upon that as much as possible and get as much of your money within their doors as

They possibly can whether or not that's good or bad it remains to be seen I'm sure you can look at it in a variety of ways but I think ultimately that's kind of what's happening in the long run and so hunter says that's and that's an

Interesting point too so hunter goes when I was talking about loan scan and talking about the different companies out there or projects decentralized apps whatever it might be they're they're offering interest rates poor lending USD

See hunter mentions you know I haven't heard anything about any of those companies but I'm registered on coinbase and that's the advantage for coinbase too so maybe somebody like hunter here who sees logs into coin based in the

Future sees oh you know I just have some money sitting in here maybe I can make 1% on my money instead of just letting it sit here because it's sitting here anyway but if you were to do a little bit of

Research and not and not speaking negatively at all about you at all but if you know if you were to like actually look into it outside of just logging into your coin based account you would be able to get let's say between 4 and

Maybe at least 4 percent higher from a fairly reputable place so something something worth considering but it also goes to show like how coin based can make money off this because they have the most brand awareness for the most

Part they have the most users so somebody might not know of other opportunities elsewhere and they might just you know choose to utilize what Columbus has available you

And so getting into kind of the third part of today's discussion as well so before we happen to a bunch of questions and I'll obviously take those as we go too but one of the things that I think is is pretty interesting that's

Happening now is over the past week or so and this has been a long time coming but over the past week there was kind of this whole cascading effect where you had etrade which is e trades famous for advertising cheap trading fees right you

Guys have been in the US or I'm not sure how how popular each trade is abroad but you had TD Ameritrade slashing fees to zero Charles Schwab doing the same Interactive Brokers doing the same thing and E trade was kind of like the last

Man standing and E Trade makes a shit ton of money off fees there so traditionally I don't know what the fees were maybe five seven ten dollars something like that I don't remember precisely but let's say there were seven

Bucks each trade was charging seven dollars for every for every trade because all of their competitors were we're going 2-0 entrants like Robin Hood came into the market and said hey you know you could trade for free picked up

A bunch of money from from younger consumers and really grew their AUM pretty substantially and now you have a company like e Trade basically being forced by the market to to not charge for fees anymore and they're pissing

Away at this point in time approximately 300 per million or 300 million dollars per year in revenue from that drop in commission so I think that I mean overall this doesn't necessarily have anything to do really specifically with

Crypto but I do think it might transition into crypto in the long run one of the most profitable businesses right now is our crypto exchanges right now by Nance makes a ton of money cz was like the first person to you know the

Fet one of the fastest people through a billion dollars and wealth like ever like the dude just blew up in money coinbase makes a ton of money Gemini makes a ton of money all these crypto exchanges make a ton of

Money bid fin acts like all then they print money on a consistent basis so that is due to fees though right and and these are our competitive in nature and when your competitors are reducing prices and reducing fees

Then either you kind of have to match that you have to match that or you might lose out like for example a lot of people a lot of people in in the industry and correct me if I'm wrong in the comments but Gemma and I raised

Their fees to about 1% if you're using their consumer their consumer application there are a couple things you can do I think you can trade with our API or they have like a pro pro model where you actually reduce the fees

But Gemini's fees are like 1% per trade which is a lot right coinbase is is not a coin bases might not be that high some of these other ones might not be that high so you have all these different you have all this competition for specific

Trading fees and then when you have somebody else who's charging a lot the simple thing to do is just to undercut them and eventually that kind of gets to to a race towards zero unless either there's some type of like collusion or

Just generally speaking nobody wants to piss away all their business but it is something that I think is worth watching in the long run because I do think for the benefit of the consumer for the benefit of you and me the market is

Moving in a positive direction towards the reduction in fees as you'll see with what's happening with the e trades and the TD Ameritrade z' and the Charles Schwab 's of the world and another really good thing to read this was

Posting one of the telegram groups um in but we'll pull it down here there's there's a lot of conversation around like how these discount brokerages actually make money and I think this is worth a read if you want to check it out

I'll include a link below in the youtube comment in the youtube comments as well so you can check that out but this person accurately predicted commissions and discount brokerages we'll go to zero and a few other things

As well so I thought this article was was really solid in a fund read because there's a lot of confusion around like the Robin Hood's of the world and the e trades of the world and how do these companies make money and I do think it's

Slightly applicable to the crypto market it's a longer read probably take you like 10 minutes or so but definitely worth the time if you're interested so Dave G mentions this fantastic question and we could take this on a

Little bit of a rant so Dave G says is coin market cap data accurate I would love to hear from you in the comments right now from from all the folks out there as I have a nice tip of Montag pumpkin ale is coin market cap data

Accurate let's hear it you you so pulling up my man Jim Gibbs nah fam not all-encompassing that's for sure

And Andres will get into by Nantz us liquidity so we'll talk about that a lot a lot of good a lot of good comments I appreciate everybody there so this is something that again another one if you haven't read certainly worth the time

This is an older Arthur mentions Masari love Masari also Masari slash on chain effects definitely recommend Masari I also recommend Nam XCOM as well but so this is the bitwise report and this is interesting because it goes to show some

Of the problems not necess she's me not necessarily that it is coin market caps fault per se but there are misaligned incentives and what do I mean by misaligned incentives well in the crypto world in in the entire world I think I

Am a huge advocate for incentives incentives drive the world that is what makes the world go especially in the world of finance of this kind of emerging world of of crypto so if we pop it down we'll look at the look at the

Market as a whole this is a report from bitwise so they talk and they bring this up here the top Bitcoin exchanges by reported volume and this is from coin market cap so this goes to show some of the data on coin market cap so the top

Crypto exchanges by Bitcoin markets on coin market cap and I'd love to hear in the top ten how many of these you've traded on in the past you have coin been a you have o X B W bit 4x zbg eye box digi finnex coin Neil and I Dax those

Were the top ten on coin market cap as of the time of recording this are as of the time of this bitwise report which was published in 2019 all the way at 2022 is by Nance mine heads is at 22 which is which is crazy so you have that

And the data that is reported is really extremely it's all wrong and so why why is wrong well number one the use of queen marking app data is mostly crap it's important to it's important to note that

So getting back to the question is coin market cap data accurate no it's not for the most part it's it's not there are some accurate elements of coin market cap data but there are many exchanges that manipulate coin market specifically

For the purpose of Garnon garnering new users and then it helps the media or it kind of pushes the media to misrepresent things and misrepresent volume and a variety of things like The Wall Street Journal quotes coin market cap the New

York Times quotes coin market cap Barron's quotes coin market cap that is a problem because coin market cap is not always accurate so taking in accurate information and publishing that and using that is is not traditionally

Something good for something good for just the market in general so like they look at what a real markets look like they look at coin based Pro they look at the the volatility within coin klemish Pro and then they look at suspicious

Markets like coin been a where they have trade printing basically they are and this is the the this was at the time the largest Bitcoin market in the world I've never once traded on coin been a I've never once heard of anybody trading that

Coin been a so they engaged in things like trade printing between the bid and the ask they also engage in things like will pop down here basically I'll pull it up they engage in basically printing printing trades at very specific time so

There are certain times where there's absolutely no trade volume and then there are certain times where it's basically two people that are the same entity just trading back and forth and back and forth and back and forth to

Each other and this was right BTC doing that so you can see that here but you can also see a variety of things when you look at like a real world footprint too so bitwise this is an older thing I've talked about it in the past before

But bitwise had looked at you know Twitter followers Google search results as well was overall web traffic and you had you had a company that was doing like 18 times the volume of coinbase that had

10,000 Twitter followers and had no venture funding had a parent according to LinkedIn 42 employees on LinkedIn probably none of those were real and really really low web traffic according to similarweb so there's a lot of easy

Ways to to just like determine this like fake volume but the problem there with all that lies in like so what we'll pull up volume on on Bitcoin and we'll take a look at it and so you can see right here we're on coin market cap right now what

Is the daily volume for Bitcoin 24 hour volume it's 12 billion dollars but guess what 449 million of that volume comes from a place called vind acts as anybody here heard of of Vinh – at all no fuck is Windex has anybody heard of right BTC

382 million dollars worth a volume I will click on right BTC right now and I guarantee this volume profile is the biggest wash trading bullshit you will ever see in your entire life look at these trades it is just a straight line

Back and forth it is the most obvious wash training and the most obvious fake volume you've ever seen and that is currently the number two source of volume on coin market cap so number one that's a problem because this gets

Included in the actual data that places like Wall Street Journal in The New York Times and all these big whatever you know news places use to report volume number two it's a problem and the reason why they do this the reason why they

Fake volume is because they want newbies to go into point market gap we market gap is the largest source for the most part for you know one of the largest traffic sources one of the largest sources for new people in the industry

Or just people in general when they're trading crypto so they want people to go into Bitcoin and they look at the markets and they're like oh wow this this place right BTC is super liquid I'm gonna go pop over there I'm gonna you

Know maybe sign up for a new account I'm gonna get the ball rolling and gonna go trade meanwhile they're literally trading with crickets like they're not actually trading with anybody there's no there's no volume

There's no liquidity if you look here that I mean the like that the actual spread if you were to if you were to trade like to Bitcoin you would take the price down 200 something dollars on on uh on right BTC it's should be called

Wrong BTC put up Shh that's terrible you so for for anybody to who's like looking at coin mark happened like alright you just ripped on coin market cap you just said bad things you said it's bad what

Do I recommend instead so I would say two places number one is a company called naam –ax I've had clay Collins on the podcast before he is legit I am a big fan and I would also recommend masari's on Shane FX I think they are

Both fantastic places and they consider they use real volume which is taken from this report where they take the exchanges that are not fake volume exchanges and they basically exclude those and include the actual volume for

These crypto currencies so in both scenarios I would recommend Masari and na mcc's I would also mention to you that when you do look at these exchanges or when you do look at something like na mcc's

Maybe finding a place to trade right you want to trade a crypto currency you want to find a place that's actually good I would check out anomic sand you can click on the markets and they have a pretty good analysis of where the

Trading is actually taking place and they have this transparency rating so they basically get access to the data from the crypto currency exchanges they get access to their API and a bunch of data to make sure if it's real or not so

You can see like Finance has an a DARAB it has an a coinbase has an a bit stamp Kraken a lot of these exchanges that you know and probably have actually traded on have an a but if we maybe will go down here and we'll go to the other end

Of the rating give me an F give me an F the trade bitcoin Wow okay well a lot of question marks so so there we go you pointy land coin been a telegram is the

Ass end of the earth according to my manjae bags and I have not been in those and I would prefer to stay far far far away and for for those who are wondering – so this is not presently this is not the

Bitcoin bear market beard this is the I should talk to the microphone right it's not the Bitcoin bear market beard this is the Jets bear market beard I told myself I would not shave until the Jets won a football game so I might be

Looking like Tom Hanks and you know castaway sooner rather than later or Tom Hanks at the end of Forrest Gump when he's like I think I'll stop now so you so keep shooting those questions away

We'll definitely try to answer as many as I can as always you so Mac says those exchanges and referring to the exchanges that are doing the nefarious work on you know

Basically suspicious trading and trying to fake volume to gain access to higher ratings on taking in access to higher ratings on going market cap they might be stealing users funds I mean that's certainly possible they might just be

Trying to make money from fees I mean they need fees to survive and they need people trading on their exchange to survive really the best comparison I don't know how many of you guys remember I don't know how many of you guys

Remember just like SEO spam and Google so like for example back in the day and I mean still to this day like people will take advantage of Google like Google is right the most prominent place to have your stuff featured everybody's

Searching on Google if you can make your whatever your article or your business come up number one for a search term that's really valuable right so people would you know spam links and do all types of crazy stuff to have their

Business be high up on on Google and it's the same thing with coin market cap it is you know the most common place to find information about cryptocurrency so people are kind of instead of spamming SEO links they're spamming their own

Volume on exchange and they're they're beefing up their volumes so that they come at the top of the list and the number one in the search term and then people will actually trade there so whether or not they do nefarious things

After that who knows but even if they don't do like quote-unquote nefarious things by stealing users funds you can also get hurt because for example right BTC there's four hundred million dollars with the volume on a daily basis but if

You put in a ten Bitcoin trade right now granted I don't know how many of you guys to have a hundred thousand dollars lying around or eighty thousand dollars lying around to make a ten Bitcoin trade but if you took in a ten Bitcoin trade

You would have ridiculous slippage like massive massive slippage whereas if you did that on any normal exchange no ten Bitcoin might not really result in any slippage whatsoever so we'll talk about these subjects who

Crypto watch look that's the wrong one all right fix that shit so we can pop over here to exchanges and you can look at so you can see the liquidity on these exchanges which is

Relatively interesting and this is something that's easy tweeted about today that might be relatively interesting for you so we can pull up sees these tweet and he pulled the information from crypto watch

So one weekend by Nance America he said is triple the liquidity grown faster than by Nance back in the day and you can see that according to crypto watch which is where I got the data which crypto watch I believe is owned by

Kraken they are right now with Bitcoin or if she's me with USD and let's pull up Bitcoin – on Bitcoin they are 15th and liquidity and USD they are 15th maybe if a decent amount basically they have a

Decent amount of liquidity across the board finance us does so they have grown fairly rapidly somebody asked how that relates to the price of B and B to be frank I have no idea that just means in my opinion that means

That by Nantz has really strong relationships with market makers and that they were able to pool their market makers and pull market makers over from finance finances main entity traditional finance calm to by Nance us why is that

Important because the liquidity pools are actually separate I believe so if you were to change on if you were to change or trade on finance the the pool of liquidity the order book is going to be different from the order book that a

Trade on by Nance us and that is mostly due to regulatory reasons but so it's bifurcated and liquidity so the fact that they're actually getting increased liquidity the fact that they're actually you know getting market makers on board

Is relatively important but I think it also does go to show to how influential by Nance is in the industry that in a week or so they're able to really fill up the order books pretty substantially with market makers so good on by Nance

Us for carrying over those relationships and I think that is going to be important for them to compete against the likes of a coin base or a Gemini or Apollonia axe etcetera all the baloney extra knows

You our sea fandom says is by Nantz us open now yes indeed they are you so Havaianas says are you bullish right now I would say I lean slightly towards

I lean slightly towards bearish I'm net long so I'm too I'm too lazy to actually make any type of a long-term trade there's one trade I'm making I'm waiting to make and that is when h-bar actually is added to margin trading on an

Exchange I am waiting and ready and rip-roarin too short h-bar with a large size position but I cannot do that yet because I don't believe you can actually margin trade and or there are any futures available for h-bar but short

Term bearish medium to long term bullish right now just basically net long at this point I'm so being that them that long he's probably in that short right you so max says two things Mac says number

One no fees on Finance u.s. helps liquidity I would say yes but I would bet the majority of liquidity is is coming from institutional market makers so I would bet that is coming from liquidity providers mostly and not as

Much from from the end-users so I would say certainly the no fees helps but I do think that it's probably mostly from from kind of actual professional crypto traders that are providing liquidity and then Max goes on to say how is by Nantz

Us able to list b and b obvious security to be very frank i am relatively surprised that finance listed b and b I do think that b and b is something that is a really interesting crypto asset because it is one of the few that has

Performed very well when basically all their alt coins have fallen to absolute shit and the reason it's is performed well is because it does have elements of a security where you know you are having a buyback with finances buying back the

Asset and there are some other you know there's kind of token burns and things like that they're a variety of things that make it so that it reduces the supply and and to to buy Nance's credit to seize credit into the team's credit

They've done a ton of things about increasing the utilization of BnB there are a lot of ERC 20 tokens out there and a lot of AI cos that went through the process of creating a token and they've kept a very static use case finance has

Never been afraid to just kind of throw shit against the wall and see if it sticks and in many cases it has stuck because the price of their token has done very well it's pulled back a lot recently as probably pull back like 50

Percent recently but it has done well in the long term so in the medium to long term just about as well as anything besides Bitcoin or maybe like chain-link so finance and B&B has been interesting that way but you do have these like

Elements of a security where you have a token burn you kind of have almost like a pseudo access to profits a lot of people call me and be like a pseudo security exchange tokens there's probably a decent percent chance that

They might even be securities does that matter just that not matter you might you might say one thing you might say another a lot of people are outside the US and don't give a flying rat's ass what the u.s. security laws are how

Things are function and I trust me I get that I get the comments every day where it's like Bobby we get it you live in the u.s. we don't we don't care and that's fine I know I apologize on the us-centric miss of my content on some

Occasion so I do apologize on that but I do think that the overall judgments of the like SEC do somewhat matter but you know in in the in the long run one of the things that I thought I saw a comment on that was relatively

Interesting was that somebody said by not listening being be in the u.s. that finance is essentially admitting that it is the security so almost better to go ahead and do it because then you can fight it afterwards

And if we saw anything like what happened with AOS obviously the the es news was crazy I didn't even I didn't even talk about it I talked that morning about the stupid crypto ratings castle and then we have

Es come out with the SEC and their big settlement but I think by Nance just took an aggressive you and said you know it if we don't list B&B it really does go to show you know we're kind of giving up and we're

Admitting this is this is a security so we're gonna go ahead and do it anyway maybe and that's total speculation on my end I am NOT in the room I'm not a lawyer I have no clue but that would be my best guess

You and so I'm sure YouTube is already I'm sure every YouTube channel and podcast you listen to is already covered this ad nauseum and and really kind of dove into it but this was I think relatively

Shocking for a lot of people and it was also kind of funny too to see there's there's really almost two distinct sides of the Bitcoin / cryptocurrency spectrum you have I think there's a lot of people that are the quote-unquote like super oh

Geez the the the very hardcore libertarians that got into Bitcoin and into crypto in the you know 2010-2011 maybe 2012 timeframe that are just very anti-government they they don't want any

Government intervention they're just not a fan of it and they wanted to get the hell out you know they want the SCC to be gone they want the government to be gone and and that's that and then you have other folks that you know maybe

They're hardcore bitcoiners but at the same point in time they also think that everything else is you know an illegal offering and a security and that the government should go after every single one of these companies that perform deny

CEO or anything like that so when yose settled with the SEC they kind of went head at it and one had it was it was it was an it was very interesting for me to see the reaction so I'll leave it at that

But in a grand scheme of things this was a freaking huge win for us in the long run I mean the fact that they raised according to allegedly four billion dollars and paid a twenty twenty four million dollar fine peanuts

Absolute peanuts you so hunter says thoughts on dumping litecoin and putting that money toward Bitcoin as of now I am scared like when he's just gonna fall apart sooner rather

Than later I love you guys no I'm not I'm not a huge fan of like coin from an investment standpoint I don't see a huge use case and I would I mean yeah you can certainly make money in in litecoin maybe in the future I'm

Sure but if it's between litecoin and Bitcoin I would rather have my money in Bitcoin ten times out of ten I think that there are somewhat complimentary use cases but I don't buy the I I don't buy the like coin sales pitch of where

We're bitcoins test net I don't buy their work you know the silver to the gold III just I don't necessarily buy the you know golly jeepers fast transaction time yeah if Bitcoin all of a sudden the

Transaction fees go up to $50 again and every crypto asset starts pumping 10 to 100 X again yeah maybe like coins a good fit then but as of right now I still I think like when will probably continue to lose out value against Bitcoin so I

Think I'd rather have my money in Bitcoin personally Paul godina what's up brother you so Gordon boy says that US news about es should have moved it I don't know what

Moved it is referring to if that's the EU s price if that is the price of the crypto asset market as a whole if not but I I mean if anything it's a positive for the price of videos so and I think it did jump about 5% on the news overall

Dave G says House Lightning Network holding up to be honest I'm going to assume that's a sarcastic comment in regards to me saying litecoin is does not have a great use case if so I appreciate the sarcasm

If not I'm sorry for taking a thoughtful comment as sarcasm but either way I say you know I would say that Lightning Network is coming along slowly I do think that overall with litecoin and the biggest I mean let me pull this up

Where's Brown so we'll look it at this comment so this is from Connor Brown he's the Bitcoin er very very strong his beliefs about Bitcoin so he says this even if Bitcoin had ten or ten thousand

Transactions per second people still wouldn't use it for payment number go up is too powerful and so I think this is an interesting comment because it is contradictory to light to lightning as a whole and that is also

Contradictory to everything that is a transactions per second cryptocurrency for the most part anything that's that sole purpose right now is anything that sole purpose right now is transactions per second and not necessarily platforms

With just transactions I think is somewhat contradictory in its in its use case against that quote-unquote number go up and this is you know kind of the new meme for for bitcoiners and something that has a little bit of

Staying power for sure but orange coin go up number number go up whatever you want to say however when I'm looking at this I do think that the when you look it even if Bitcoin had 10,000 transactions per

Second still people wouldn't use it for payment that's basically saying people wouldn't use lightning Network which is the biggest hurdle for lightning is that I don't think a lot of people want to spend Bitcoin the the narratives

You know the narratives themselves are somewhat competing because you have one narrative where it we've talked about for its store value its digital gold it's you know Bitcoin is going to increase in value it is always increased

In value it is going to continue to increase in value until the day you die because Bitcoin you know the inflation cycle and yadda yadda yadda so it's going to continue to go up on the other end of the spectrum you have something

Like lightning where you know fast transactions maybe you could buy a cup of coffee with it maybe you could transact quickly with a friend etc I do think that for the biggest obstacle for lightning personally is not

The the tech I think that the biggest obstacle for lightning is the number go up versus people transacting on a consistent basis that I think is is somewhat contradictory and yes maybe at some point in time you

Lightning we're exchanges except lightning it deposits and withdrawals do you get things super quickly that way that would be a fantastic use case maybe it's just better for transactions with friends but and and and kind of moving

Money between parties but I do think that it is difficult in terms of spending Bitcoin because using it as payment nobody wants to be the Bitcoin pizza guy right we've said it before I'll say it again nobody wants to spend

A bunch of Bitcoin and then ten years from now a year from now five years now that Bitcoin was five 10x of what you had to had transacted it at and then you're tweeting about some of the og guys on Twitter were tweeting about

Buying a mattress for like a ton of money buying a hat that was a Bitcoin hat for like one Bitcoin it's like a you know eight thousand dollar hat now funny things like that ly nobody wants to be that person right so somewhat

Contradictory against like quirks you meet lightnings overall in a value prop so we'll see how it pans out short-selling crypto should be illegal don't be a bitch efficient market discovery if you want

To short something go ahead go ahead and short it seriously that's you're a little little baby bag bitch if you don't want shorting a crypto you so taking a look at some of these

Questions apologize on the delay john mcafee for president 2020 highly doubtful it's probably gonna be eating his own dick in 2020 if we're being honest right you

What do I think of card ah no do I believe in Charles Hoskinson de leaving it fully delivering a fully decentralized product as he is promising I I'm not a like Cardona was my best trade

Of 2017-2018 cardano's by far my best trade some of you guys rode that wave with me it was a wild time with card ama going for like three cents to ten cents to 50 cents to 80 cents to a dollar it was absolutely nuts

Nowadays I am NOT like a huge huge Cardinal guy I don't own any I am NOT super interested in in owning any at this time I am more interested in seeing eath 2.0 and I do think that there's other there's other platform plays that

Are competitive against Cardno and etherium as well that other people are higher on than card on them so is that does that mean it's not gonna work no I think it could very well work it could very well be fantastic maybe card

Ama crushes it but I I'm not putting my money on it you the robert adams says this why not buy things with bitcoin just maintain what you think what you think you will want

To have so that's I mean it's a good question Aaron yeah it's a it's a good question and I do think that there are certainly people that do buy things with Bitcoin and I have bought I purchased assets

With Bitcoin I purchased assets with aetherium before the computer I have I bought with eath laptop I bought with eat a few things I've used like new egg in the past and some other places that accept cryptocurrency so I I've

Purchased things with with crypto as a whole but then every time I do I'm basically taking USD and throwing it back into crypto so it's kind of pointless anyway but I think that it's just it's a difficult it's a difficult

Narrative for Bitcoin to overcome because the pressure like most people are into if we're being honest with ourselves most people here are into Bitcoin there are there in there into cryptocurrency because they bought it a

Certain number they want to sell it in a number higher that's why most people are in it and yes there are some people that you know truly truly care about decentralization they truly care about self self sovereignty and a variety of

Other of the kind of core ethos but most people just want to buy it and then sell it later when when the number goes up and if you buy it and then yourself or something else and then the number goes up you feel like shit and you've seen

Other people do this and other people it's been in the media it's been in the press so there has been this just narrative in the past that I think is preventative in some ways you

So Ricky Thompson says why use a currency that depreciates overnight Libra is stable what do you think the citizen will use power to Facebook I I'm still doubtful that libras gonna launch personally well we'll see if it turns

Out but I still have my doubts that Libra actually launches when they you know say it will just be as I do think the other regulatory environment around Libra is incredibly difficult if you had seen today we'll pull this up from

Bloomberg go down to the crypto section they have a crypto section right boom so this is from Bloomberg and it is Facebook Libre payment partners waiver on cryptocurrency

So the when-when-when Libre was announced there was a lot of there's a lot of hubbub a lot of commentary around the quality of the partners obviously they had some fantastic partners that they announced with in the Libre

Ecosystem however they didn't really do all – like there wasn't any real commitment there outside of signing a I believe like an initial high high level agreement so there was no really kind of material business there's no nothing

Material business-wise there so now you have Visa MasterCard PayPal and stripe are undecided about formally signing onto the Liebherr charter so that is something that it does go to show you know if people are just expecting Libra

To come out and change the world a lot of the launch partners and and the biggest ones in in many cases the most important ones because they're the FinTech ones you have you know Visa MasterCard PayPal and stripe are

Potentially not even going to join the Liebherr initiative keeping your pants boys in the comments I'm gonna grab another beer in one second you

You and we're back you so two two awesome comments I I just want to say I truly truly love the youtube comment section you guys are the

Absolute best all three good comments is that a white Claude no it is a Montauk pumpkin ale also absolutely rocking the Montauk shirt got it last time I was out there great brewery so sponsor me please but number one no it's not a white claw

Number two XRP legend says XRP is the real bitcoin i would doubt that highly no it's not and then number three we have Bitcoin Satan who has been highly active in the YouTube chat so big shout out to you my man or will man and he

Says she says the crypto market has been hijacked by the Rothschild globalist it has none of the tenants originally cell celebrated by early fans yeah those damn Rothschilds have their you know sticky fingers all over the

Crypto markets and here at the crypto Bobby YouTube channel we love exposing those dirty globalist so thank you thank you thank you you you

So wiki says this Bobby when will you get into privacy coins great question I have in the past in the past I have owned Manero in the past I've owned Z cash and I no longer own either of those anymore Z cash has

Gotten absolutely mother-freaking whomped like mother whomped against the price of Bitcoin like it's it's it's like skydiving against Bitcoin owning Z cash is painful it hurts it's it hurts it hurts bad

And and Manero hasn't done that well either but this is a good read from the folks over at multi coin capital some of you might know them some of you might like them some of you might not I don't really care it's a good read so I'll put

It in the comments as well and they call this privacy is a feature not a product and what does that mean so they say privacy is a feature of valuable crypto currencies not a product offering in and of itself users should not have to take

Balance sheet risk eg selling some Bitcoin or eath for ze C unless valuable and less secure crypto currencies in order to achieve financial privacy this essay will argue the general platforms like Bitcoin and aetherium already

Offers sufficient privacy guarantees for most users to never need niche privacy focused block chains so they add a whole article about it they had a whole article about why like we said it's not a good idea to sell Bitcoin or eath

Probably primarily Bitcoin for Zee cash or maybe Manero and that privacy is is not you shouldn't own a privacy specific coin you should just look for privacy enabled features within Bitcoin or another crypto asset that you really

Hold and I do think that that is interesting because the market clearly like we talked a lot about privacy right like that's a big feature that a lot of people want to hear about right people love privacy nobody wants to have all

Their transactions tracked nobody wants to have now the tax man out for him whatever it might be could be a million different reasons you just maybe you don't want people to track the shit you're doing I don't care

I don't know but with with a lot of these privacy coins either nobody's using them or they're optional privacy like Zee cash and many people aren't using the shielded transaction so

They're not actually using the privacy features of them and as well if you are looking at them you know trading against trading and taking on balance sheet risk and my balance sheet risk it means owning those assets is not a no not a

Fun thing to do like we'll pull up pull up the cec to Bitcoin shard on Polonia ax pull it up on a week in the past this I mean this is from what do we got

In the past 600 days Zeke ashes down 91% against Bitcoin that's against Bitcoin that's not against the US dollar s against Bitcoin XMR will pull up XMR to BTC on I'll say bitch tracks I would expect somewhat similar yep so same time

Frame same time frame and narrows down 75% against Bitcoin I think looking at that you could certainly make some trades here there but ultimately speaking owning a privacy

Cryptocurrency or privacy focused cryptocurrency instead of something like Bitcoin is not a not a good financial decision if you want to use one of those privacy cryptocurrencies you can certainly do so you can definitely make

That move but right now at least for the time being those you know the big ones XMR ze c and and grin as well typically trends down I mean grins inflation rate is out outrageous every once in a while it might have a nice pump here there but

I mean grin has been from from when it started grins down 88% against Bitcoin and a lot faster timeframe so I mean if I'm looking at privacy right now I have zero interest in in my own exposure to it that's just that's just not not of my

Interest level you Mirko what Bobby what price will you buy a dip in be BTC aside from my typical dollar cost average I would probably go and start going in pretty hard under

$7,000 that's that's just me hopefully we don't see that but I probably going pretty hard under 7k you so Dave G says did regulation kill privacy coins and that's a good question

There's a lot of chatter about that specifically in in Europe so you have privacy coins facing and this is this is Bloomberg privacy coins face an existential threat amid a regulatory push gotta love Bloomberg for making me

Sign up on brave you you also had South Korea also doing the same thing and this was excuse me this was not actually European folk specifically European focus but also the

International body the f8f AF FAFSA financial action task force so this was one of the big reasons that a lot of of international organization international exchanges have been D listing privacy coins recently so up it was one of the

Latest ones they got rid of our IP tube but they got rid of Manero – Zee cash haven as well as pivots and a bit tube – but the big ones there would be Zee cash and Manero and potentially – and then you also had I believe coin based in

Europe in the UK got rid of Zee cash ok X dropped 5 privacy coins so there's there's a little bit of a risk I would say liquidity wise with privacy coins and I always figured – that would kind of be

The first place for governments to go after is these privacy coins because if you're not familiar behind the scenes there are companies that track your crypto assets and can do it extremely extremely well for example chain alysus

Is one of those if you have not seen chain analysis before chain alysus does chain alysus is a blockchain analysis company that works with you can see here we create transparency across blockchain so government agencies cryptocurrency

Businesses and financial institutions can confidently engage with cryptocurrency keyword they're government agencies so companies like chain alysus work directly to places like the FBI the Department of Justice

Homeland Security the DOJ local law enforcement a variety of led sets in the US but also abroad these these international institutions as well companies like chain alysus work with them and basically if you have

Basically if you've ever transacted from a coin base or from a potentially a finance or just one of the larger cryptocurrencies exchanges and you've been kyc so if I put my name Rob hey own and I K Y C and I i ky see on coin base

And they know my name is Rob pay on they know where I lived and all that crap about me and I have Bitcoin and I take my Bitcoin and I send it to an address chain Alice now knows that Rob Palin owns likely that that address is

Connected to Rob pound somehow they know that and so they're able to decipher who I am where I'm like where I'm from what I'm doing where in the world I might be because they've kind of attached themselves to these to the local to

Basically the the Fiat on-ramps and different places again government agencies exchanges financial institutions use it for compliance investigation a variety of things I mean mostly I would say for the most for the

Most part you have come like you know government agencies are using this for when somebody does like a malware investigation like if you if some random town in the middle of nowhere gets hijacked their computers get get kind of

Hijacked and held for ransom where and that person says you know they get the message on their computer you need to pay us you know five Bitcoin or else we're gonna hold your computer network hostage forever and delete all your

Files and they pay them five Bitcoin something like chain alice's contract who they sent it to and find that person but it does reduce privacy and and kind of increases the need for a long term privacy but then going back to it

Multi coin arguing that privacy is a feature not a product so privacy should be a feature within main crypto currencies that are more secure not necessarily with companies that have their own quote unquote product

So we have xrp legend in xrp freak commenting in the comments and I would say XRP freak you did just make me crack up when you said if you're still holding verge you shouldn't be involved in crypto I personally I'm holding massive

Bags of urge and I'm really awaiting on seeing that value capture from the pornhub partnership that was one of the big things that I think you know biggest use case is really in the industry is seeing the value that we're gonna accrue

With that verge pornhub partnership you and so Mac says he disagrees on Manero thinks it's a worthy project I do personally think Manero is a worthy project

I like Manero I think it is definitely not a security I think it is sufficiently or like actually decentralized I am a fan of manera I want Manero to do well I am a fan of it and I like it I've owned it in the past

However however I wouldn't own it for the time being I don't I I can like something and then I can also think it's might not be a good investment for me or for other people and that's kind of my stance on mineiro is I like it but I

Wouldn't necessarily want to own it right now that that's my stance on Manero out of you know with with Mineiro out of all the privacy coins I think Manero is the best position potentially to succeed

As the true privacy coin you have I think Zi cash definitely has like more money behind it and has maybe a like it potentially a quote unquote higher quality development team but the the optional privacy versus default privacy

Is is an issue you Richard Holtzman BTC going all-time highs nope so I talked about that earlier and to bring that back up I spoke about this from the September 2019

Market update from Ichi Jai management which is led by Travis clinging on the investment side and we discussed we discussed his commentary where he said and this is in regards to the title which gave everybody a coronary and and

An ulcer where he he basically discussed from a Bitcoin specific perspective we see compelling evidence to believe we are in approximately the second top of the second quarter of a cycle cyclical bull

Market an uptrend that will eclipse previous all-time highs by a wide margin in the next 12 to 18 months in our view the number one risk to halting that Bitcoin bull cycle will be a global risk off shift in e coming months so that's

Where I got the title from for those curious and I also respect highly the thought process and the research that the team at that Travis and the team do so I do really like their approach to things I think that they've been a very

Spot-on in the long run they were spot-on on octonal on September 1st they have been pretty damn close on I mean it's a long out prediction but people are so kind of far into the disillusionment phase of cryptocurrency

That they could never imagine seeing an all-time high ever again so that's why I you know you get these bitter comments and and this is a good comment as well so Mirko says this all youtubers have become a little bit of a Bitcoin

Maximalist in the last year or so it goes together with BTC dominance any thoughts will we not see in alta season anytime soon that's a good point I would not say I'm a Bitcoin maximalist I personally have the most confidence in

Bitcoin being a digital gold store value and being kind of the number one crypto asset I also do think that in select scenarios you might you might be able to outperform Bitcoin and I also like speculating slash gambling with the

Money I have in crypto so shoot me whatever I don't care so I'm not a I'm not a hardcore Bitcoin maximalist I do think bitcoin is number one and will remain number one I also have money in aetherium or in eath I

Also have money in tezo's I also have money and oh my god god forbid leo I also yeah that's that's like that's that's what my money's at so I I am not opposed to things outside of Bitcoin but I think it is also not sexy right now to

Talk about alt coins all coins have gotten absolutely smashed and for the most part most people you've had a lot of people on YouTube especially like in 2018 yet a lot of people I mean they were and there still are videos too but

You have a lot of people that are like no would out all coins are gonna crush it what all coins are gonna outperform Bitcoin what are the best this that and the other thing and they were totally wrong

Like Thoth and and I I mean I've been wrong a bazillion times too but people that were like really really shilling all coins super super hard and I mean I've had my money where my mouth is the entire time and I've I've been

Negatively affected by it as well in some in some scenarios but now it's definitely like this safe place that's you are in if you are a if you are a Bitcoin maximalist it is it is safe if you come out as an altcoin or if you are

Like a shit coin or like people will yell at you and and make fun of you and say disparaging things that like it's literally not sexy right now to to have any money in anything but Bitcoin and I mean you've seen it with prominent

Investors in the cryptocurrency space on YouTube that may be or may not have had spreadsheets that's we're big into ICO is big into you know big into all coins that like like hey I'm a Bitcoin maximalist like no you're not but you

You're just going for where the best returns are which is fine but don't say you're a Bitcoin maximalist but when I mean when I think about everything right now I think it's it's all cyclical right now it's super sexy to be in Bitcoin you

You feel a lot safer there like you come out and say you know bitcoin is the best thing ever there's gonna be a million people that cheer you on if you come out and say you know it's gonna be an alt season you're gonna have five desperate

People that are like please sir please maybe maybe please we'll see an alt season and I also do think that just I mean realistically speaking a lot of the ICO is a lot of the alt coins are absolute dogshit

Like if we've learned anything over the past we've learned anything over the past few years most people are are barely using things like Bitcoin and a theory about a large like in the grand scheme of Finance and

The grand scheme of Technology most people are barely using Bitcoin aetherium and some of the other larger crypto assets and platforms so people are not using like that the lower lower lower quality of coins and in many cases

The utility tokens do not capture any value whatsoever outside of value from your pocket into the founding teams pocket so that's I mean that's the big value capture for a lot of these has been your money to to somebody else

That's where the value is mostly gone so I think a lot of people just don't see it there unless for somehow someway there's there's a value capture and a value accrual you're not gonna see much success with all coins for the time

Being unless there's just like this again it's like global macro high P crypto mania again where Bitcoin like Rises you know rise of the tide you know a rising tide lifts all boats type scenario

You so Mirko says this let's just say that your BCC portion should at least follow the Bitcoin Dominus to be on the safe side that's actually not the worst scenario ever like probably not the

Worst idea to have your portfolio somewhat mimic the Bitcoin dominance although that might be more of a lagging indicator than a leading indicator so you might actually you know lose out on some I don't know I

Have to think about that more but interesting interesting commentary there for sure and if you are if you are new to the channel by any chance make sure to hit that thumbs up button hit that like

Button as well and I mentioned this before but for anybody that's been new who's watching this if you're on the west coast in the u.s. I don't have the job listed on my website but I do have an

Opportunity for recent college graduates if you've graduated college recently you're living on the west coast maybe of a few years of sales or Client Services customer support experience in finance or FinTech I have a job opportunity with

A company that raised twenty five million dollars in the series day they're crypto trading platform and they're looking for a junior client services person to join their organization salary between like 50 to

75k if you go to proof of talent Co slash careers I send in your resume let me know you'd be interested in it would be happy to reach out at a bunch of people apply one thing of note probably a later schedule for this client

Services role it's like a 2:00 p.m. to like 11:00 p.m. type role so if you're cool with that let me know company is literally like one of the best companies in trade like trading wise crypto training wise software the best company

In the space in my personal opinion connecting two exchanges does incredible work I've a ton of customers already raised money from some of the best species so make sure if you're on the west coast or you know somebody of a

Thousand dollar referral bonus if you refer somebody that gets hired so make sure to always let me know about that as well you they look more at some of these

Questions here you let me see what we got david says thanks for showing us compound finance last december i don't want to toot my own horn but i was

Pretty early on to the whole d phi thing with compound finance that was pretty awesome although really december was basically the bottom of the market so if you had your money in Bitcoin from then on was pretty pretty pretty nice for you

But compound finding it's still one of my favorite defy apps and I think one of the best places to you know keep keep some money on the side if you're looking to earn interest in the long run mg blazer says is proof of town only New

York and west coasts so I'm personally based in New York living live in the city and just because a lot of the connections I have in the industry are in New York a lot of the job opportunities and the companies I work

With are based in New York so right now I actually work with 12 companies probably like 75 % of them are based in New York and the other 25% are in San Francisco and Boston so mostly I proof of talent is us-based I don't have any

International opportunities right now pretty lean team so we'll definitely expand to that in the long run but right now it's New York based with opportunities in San Francisco on the west coast and in Boston as well

Our C phantom I'm going with some Montauk pumpkin ale oh good question mg blazer so he's just curious if there's any Chicago stuff going on so right now personally I don't really

Have maybe you have one opening for like a DevOps engineer in Chicago but um I would say if you're curious I mean generally speaking about the job market for crypto in the u.s. there's there's a couple main places New York in San

Francisco are the two biggest job markets for crypto right now in the United States internationally you have places like London Singapore you also have a decent amount I guess in Switzerland but I think London's

Definitely bigger I would say maybe to a lesser extent Hong Kong but right also Berlin is big and then Tel Aviv in Israel as big as well so but in the United States I would say New York and San Francisco are definitely the biggest

And then like second not second-tier in quality but second to your in size of market I would say Chicago Boston and then LA are probably like the the second-tier as far as the amount of opportunities that are available mostly

I feel like Chicago has a very heavy emphasis on trading because there's a lot of talent there that's worked in traditional finance so there's it's an easy way to pull people that have worked at these like high-frequency trading

Firms and things like that open up an office in Chicago pull some talent from there they don't have to move bingo-bango you're good to go by air not by Nantz Boston I'm talking about crypto too much I'm confusing finance with

Boston but Boston has Harvard MIT Northwestern northeastern a lot of good schools so there's a good you know student population there so there's it's a nice fertile recruiting ground so Boston's pretty big and then LA is also

You know growing in addition to I would say Chicago and and Boston you yeah I've seen a lot of it looks like Chicago had their own I mean there's Thursday I'm sure some of you guys go to

These but there's like a blockchain week every single week there's like multiple blockchain weeks a week Chicago seem to have a bunch of different crypto events I know the folks at block works group which is a good

Organization they put on good events if you've never checked them out I would see if they're ever in your city I think they're gonna be in London for the first time in a while but they do a couple different conferences and they do they

Host Pomp's podcast they host a few other podcasts as well so I like the team at at block works for sure they do they do good work and they have been hosting some some live events that I think are certainly worth the time so if

You are interested I would definitely check out it looks like they have I mean they're based in New York so they have a good amount in New York but also they're out in London and a few other places Chicago too so check them out if they're

Ever in the area as well XRP legend says Bobby why don't you like XRP I've talked about it before I I don't need to be like ad nauseam on it I would say that I don't see a huge use case for xrp no matter how many

Partnerships you want to put forward it's not my cup of tea I I don't love it I think that inherently speaking I mean no matter what you want to say about XRP in ripple ripple being gifted by the a decentralized organization and the nodes

Being more decentralized miners in China and this that and the other bullshit you know you could say whatever you want about it but if we pull up like I think with you know with XRP in particular if I could find my mouse wherever the hell

That is she was my mouse so if we pull up XRP we could see let's see here metrics I think one of the most important things about XRP is the inflation and I think there's a lot of

Hidden inflation that people don't necessarily know about or don't necessarily see and I think that's that's the problem with with XRP as a whole is just the actual the inflation that's occurring with XRP I don't I

Don't know where the actual let's see here massarde is a pretty good job of tracking and of all the details of of XRP and and yes an extra few legend says Brad Garlin housen and is going on pom

Podcast off the chain next week that should be interesting a lot of a lot of people I know we're not happy about that a lot of like pump pump is the Bitcoin er and a lot of bitcoiners I know were not pleased about

The idea of Brad going in that podcast personally I think it's pops podcast and he should have whoever the hell he wants on his podcast so whether or not anybody likes that or not I I could care less I think that hey it's you know it's it's

Pomp's podcast and he can really he could really interview whoever the heck he wants on his own podcast so that's number one thought process there but looking at XRP I mean I think the the token sale itself and kind of how it

Is structured as well as the continued kind of let's say distribution I don't want to say dumping but let's say distribution of of XRP in the long run is not suitable for the increase of the ripple or excuse me the XRP price and

That's that's my thought process I also think things like JP Morgan coin are highly competitive to of ripples trying to do and you know they're better position to do within ripple is but again – I mean and this is to say

With with anything I would like to always kind of caveat every statement I make about nineteen I think that there are definitely bad people in cryptocurrency I think that there are shitty people I and I will say

When I think somebody's shitty and I will say when I think somebody is is not a great person I've met a lot of people I've met a good amount of people on the rebel team I've met people that have worked there I've met people that

Invested in them I've met people that have been involved in the rebel team in one way or another and I found them to all be high quality individuals and find people and and good people

I just wouldn't put my own money into it and I don't have any plans to do so and but at the same point time you're free to have your own opinions and you're free to put every dollar of your your you know net worth into XRP if you so

Choose would not be my recommendation for you but hey that's a that's your prerogative and it's your money so go do what you want to do and folks at this point in time I have checked my phone and I have a bunch of

Emails for proof of talent stuff so I got to get back to the recruiting grind now that I have you know beer and a half and me and I can you know loosely loosely get on the game so I will hop on that if you enjoy this video make sure

To hit that thumbs up button hit that like button as much as possible and if you are new to channel by any chance make sure to hit the subscribe button and again if you know anybody and/or are looking for an opportunity in the crypto

World proof of talent do have a number of opportunities always feel free to check out the website and if you know somebody that might be looking for a new opportunity in crypto I have a one thousand dollar referral bonus for

Anybody that you refer that gets placed and I'll pay that Bitcoin eath and shit maybe I'll even pay that in XRP for you x RP legend if you really love it so will definitely go ahead and do that but thank you yes so much for your time

Crypto Bobby signing out I hope you have a good one peace

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