WEBVTT 00:00:14.919 --> 00:00:17.820 Welcome to the Bitcoin Street Journal, Bitcoin 00:00:17.820 --> 00:00:20.199 market update podcast, your daily source for 00:00:20.199 --> 00:00:22.800 live updates on the Bitcoin market. Buckle up 00:00:22.800 --> 00:00:25.399 buttercup as we delve into current Bitcoin technical 00:00:25.399 --> 00:00:30.019 analysis, track Bitcoin BTC prices, explore market 00:00:30.019 --> 00:00:32.960 capitalization trends and analyze market supply. 00:00:33.399 --> 00:00:35.280 Stay ahead of the curve with our comprehensive 00:00:35.280 --> 00:00:37.479 coverage of the ever evolving world of Bitcoin. 00:00:38.079 --> 00:00:40.679 In today's episode, we'll cover Maddox rise before 00:00:40.679 --> 00:00:45.130 Polygon 2 .0 rollout, successful NFT sales, the 00:00:45.130 --> 00:00:47.850 Magic Johnson -backed fantasy football AI platform, 00:00:48.409 --> 00:00:51.609 competition between Claude Tu, ChatGPT, and Google 00:00:51.609 --> 00:00:54.929 Bard, the launch of Grand Saga, Unlimited, South 00:00:54.929 --> 00:00:57.689 Korea's crypto disclosures mandate, Bitcoin price 00:00:57.689 --> 00:01:00.549 analysis, Vanguard's purchase of a stake in Bitcoin 00:01:00.549 --> 00:01:03.250 Miner Riot, the peak of Bitcoin's supply with 00:01:03.250 --> 00:01:05.650 growing institutional interest, the shutdown 00:01:05.650 --> 00:01:08.870 of the largest Algorand DeFi, Grayscale's criticism 00:01:08.870 --> 00:01:12.379 of the SEC, the Brazilian CBDC allowing account 00:01:12.379 --> 00:01:14.980 manipulation, and the latest updates on the crypto 00:01:14.980 --> 00:01:18.819 bill from senators. Matic is on the rise, with 00:01:18.819 --> 00:01:22.140 a 9 % surge ahead of the Polygon 2 .0 rollout. 00:01:22.540 --> 00:01:24.739 The network's growth is bouncing back, possibly 00:01:24.739 --> 00:01:27.640 due to increased on -chain activity and the conclusion 00:01:27.640 --> 00:01:30.500 of a $66 million sell -off by bankrupt Celsius. 00:01:31.239 --> 00:01:33.659 This positive momentum is good news for Polygon. 00:01:34.040 --> 00:01:36.739 In other news, an NFT -powered animated series 00:01:36.739 --> 00:01:40.319 created by Dan Harmon called Kripopolis has finally 00:01:40.319 --> 00:01:43.099 been given a premiere date. The associated NFT 00:01:43.099 --> 00:01:45.400 collection has already generated nearly $1 million 00:01:45.400 --> 00:01:48.180 in sales. It's fascinating to see how crappy 00:01:48.180 --> 00:01:52.120 NFTs are infiltrating various industries. LOL 00:01:52.120 --> 00:01:56.060 Speaking of NFTs, SimWind Sports, backed by Magic 00:01:56.060 --> 00:01:59.180 Johnson, is infusing fantasy football with artificial 00:01:59.180 --> 00:02:02.200 intelligence and NFTs. They aim to bridge the 00:02:02.200 --> 00:02:05.319 gap between e -sports and fantasy sports by offering 00:02:05.319 --> 00:02:08.379 a 24 -sevenths virtual football league. This 00:02:08.379 --> 00:02:10.439 innovative approach adds a new dimension to the 00:02:10.439 --> 00:02:13.060 fantasy football experience. Are you a Minecraft 00:02:13.060 --> 00:02:15.259 enthusiast? Well, now you can earn Bitcoin for 00:02:15.259 --> 00:02:17.759 playing the game. The SatLantis Minecraft server 00:02:17.759 --> 00:02:20.460 has partnered with Bitcoin payments startup Zebedee 00:02:20.460 --> 00:02:23.080 to give out over one million Satoshis per week. 00:02:23.599 --> 00:02:26.400 It's an exciting way to combine gaming and cryptocurrency. 00:02:27.000 --> 00:02:30.449 Unfortunately, not all news is positive. Rodeo 00:02:30.449 --> 00:02:33.750 Finance, a Layer 2 DeFi project, was hacked for 00:02:33.750 --> 00:02:37.449 472 Ethereum, resulting in a theft of approximately 00:02:37.449 --> 00:02:41.189 $888 ,000. These incidents highlight the need 00:02:41.189 --> 00:02:43.289 for enhanced security measures within the crypto 00:02:43.289 --> 00:02:46.830 industry. Ever wondered what play -to -earn P2E 00:02:46.830 --> 00:02:50.189 games are? Unlike traditional games, where in 00:02:50.189 --> 00:02:53.110 -game items are owned by the game creators, NFTs 00:02:53.110 --> 00:02:55.610 allow players to own the unique assets they acquire. 00:02:55.930 --> 00:02:59.090 This concept has gained popularity and is transforming 00:02:59.090 --> 00:03:02.229 the gaming landscape. The UK government has decided 00:03:02.229 --> 00:03:05.389 to exclude unbacked cryptocurrencies like Bitcoin 00:03:05.389 --> 00:03:08.229 from its digital security sandbox initiative. 00:03:08.830 --> 00:03:11.289 However, they do not plan to modify the existing 00:03:11.289 --> 00:03:14.150 legislative framework for derivatives. This decision 00:03:14.150 --> 00:03:16.449 highlights the importance of regulations in the 00:03:16.449 --> 00:03:19.810 crypto space. In other news, the first ever engineer 00:03:19.810 --> 00:03:22.509 has been charged in a decentralized exchange 00:03:22.509 --> 00:03:26.580 hack case. Shaqib Ahmed allegedly used his expertise 00:03:26.580 --> 00:03:30.539 to defraud and steal $9 million in crypto. This 00:03:30.539 --> 00:03:32.580 case sheds light on the security vulnerabilities 00:03:32.580 --> 00:03:35.539 within decentralized systems. There are also 00:03:35.539 --> 00:03:37.599 controversies surrounding high -profile figures 00:03:37.599 --> 00:03:41.120 in the crypto industry. An FTX executive is being 00:03:41.120 --> 00:03:43.960 investigated for illegal donations to his girlfriend's 00:03:43.960 --> 00:03:46.919 congressional campaign. The FBI carried out a 00:03:46.919 --> 00:03:49.120 raid while examining the political activities 00:03:49.120 --> 00:03:52.479 of Sam Bankman Fried. Another unfortunate incident 00:03:52.479 --> 00:03:56.259 involves the disappearance of $103 million from 00:03:56.259 --> 00:03:59.719 the former anti -swap platform. The hack is suspected 00:03:59.719 --> 00:04:02.439 to be an inside job, according to Chanalysis. 00:04:03.360 --> 00:04:05.379 These incidents emphasize the need for robust 00:04:05.379 --> 00:04:07.419 security measures in the cryptocurrency space. 00:04:08.080 --> 00:04:10.539 Lastly, there are discussions about whether Binance, 00:04:10.680 --> 00:04:13.120 a major player in the crypto industry, is too 00:04:13.120 --> 00:04:16.220 big to fail. The industry has endured significant 00:04:16.220 --> 00:04:19.519 challenges in the past, but the potential downfall 00:04:19.519 --> 00:04:23.050 of Binance could have lasting consequences. It's 00:04:23.050 --> 00:04:25.490 a reminder that even giants can face significant 00:04:25.490 --> 00:04:28.350 hurdles. On a more technical note, Glassnode 00:04:28.350 --> 00:04:30.889 suggests that Bitcoin has formed a sturdy foundation 00:04:30.889 --> 00:04:34.430 below $30 ,000. Based on historical patterns, 00:04:34.610 --> 00:04:36.949 they believe Bitcoin may trade sideways for several 00:04:36.949 --> 00:04:39.750 months. This stability could pave the way for 00:04:39.750 --> 00:04:43.250 future growth in the crypto market. Today we're 00:04:43.250 --> 00:04:45.449 diving into some exciting news and developments 00:04:45.449 --> 00:04:47.689 across the tech and cryptocurrency landscape. 00:04:48.029 --> 00:04:50.889 First up, we have Anthropic's new AI chatbot 00:04:50.889 --> 00:04:53.750 called Claude2, which is generating a lot of 00:04:53.750 --> 00:04:56.829 buzz. Anthropic claims that Claude2 can handle 00:04:56.829 --> 00:04:59.990 up to 100k of context, but the question remains, 00:05:00.329 --> 00:05:02.410 will it be enough to compete with the likes of 00:05:02.410 --> 00:05:05.550 ChatGPT and GoogleBard? It's an interesting battle 00:05:05.550 --> 00:05:08.329 to watch. In the gaming world, there's a new 00:05:08.329 --> 00:05:12.209 MMORPG on the horizon called Grand Saga Unlimited. 00:05:12.600 --> 00:05:15.360 This open -world anime game allows players to 00:05:15.360 --> 00:05:17.879 fight creatures using guns, melee weapons, and 00:05:17.879 --> 00:05:20.639 magic. Gamers are eagerly anticipating its launch 00:05:20.639 --> 00:05:23.500 on Aptos. Shifting to the world of cryptocurrencies, 00:05:24.139 --> 00:05:26.500 we have some intriguing developments. Arkham 00:05:26.500 --> 00:05:29.439 CEO Miguel Morel is defending their Docs to Earn 00:05:29.439 --> 00:05:32.500 program. Morel states that Arkham strictly focuses 00:05:32.500 --> 00:05:35.560 on publicly available information to draw connections 00:05:35.560 --> 00:05:38.519 about the ownership of wallets. Meanwhile, 7 00:05:38.519 --> 00:05:41.279 -Eleven is serving up free Slurpee NFTs, marking 00:05:41.279 --> 00:05:43.220 another snack food brand entering the world of 00:05:43.220 --> 00:05:46.579 Web3. In regulatory news, South Korea is set 00:05:46.579 --> 00:05:49.220 to mandate crypto disclosures in financial statements. 00:05:49.959 --> 00:05:51.879 The country's financial regulator will enforce 00:05:51.879 --> 00:05:54.759 new guidelines starting in January, requiring 00:05:54.759 --> 00:05:57.060 firms to disclose a range of information related 00:05:57.060 --> 00:05:59.879 to cryptocurrencies. There's also some drama 00:05:59.879 --> 00:06:03.180 in the crypto lending space. Bankrupt Celsius 00:06:03.180 --> 00:06:06.519 is demanding that Steakhound return $150M worth 00:06:06.519 --> 00:06:10.110 of Ethereum, Polygon and Polkadot. It seems that 00:06:10.110 --> 00:06:12.470 a significant amount of Celsius's Ethereum was 00:06:12.470 --> 00:06:15.649 locked up with the staking platform. And lastly, 00:06:15.649 --> 00:06:18.009 we can't ignore the price movements of popular 00:06:18.009 --> 00:06:21.550 cryptocurrencies. Will ADA explode above 30 cents 00:06:21.550 --> 00:06:24.310 this week? What should we watch for in Bitcoin's 00:06:24.310 --> 00:06:28.329 price in Q3 2023? XRP is consolidating under 00:06:28.329 --> 00:06:31.050 a 50 cents resistance level and Ethereum has 00:06:31.050 --> 00:06:35.199 seen a 5 % weekly tumble. Meanwhile, Robert Kiyosaki 00:06:35.199 --> 00:06:38.600 predicts a massive surge to $120k for Bitcoin 00:06:38.600 --> 00:06:41.980 in 2024, claiming the demise of the US dollar. 00:06:42.420 --> 00:06:45.040 In other news, investment giant Vanguard Group 00:06:45.040 --> 00:06:48.240 has bought a 10 % stake in Bitcoin Miner Riot. 00:06:49.420 --> 00:06:52.139 Lastly, the approval of a spot BTC ETF would 00:06:52.139 --> 00:06:55.360 reportedly be hard to resist, according to a 00:06:55.360 --> 00:06:58.199 former SEC chair. It's clear that the Bitcoin 00:06:58.199 --> 00:07:00.620 world is full of excitement and possibilities. 00:07:02.199 --> 00:07:04.360 Hey there! Let's dive into some interesting news 00:07:04.360 --> 00:07:06.899 from the crypto world. Bitcoin sure is making 00:07:06.899 --> 00:07:09.600 waves with its unmoved supply reaching new heights. 00:07:10.180 --> 00:07:12.240 It seems like institutions are showing a lot 00:07:12.240 --> 00:07:14.560 of interest in Bitcoin, which could be driving 00:07:14.560 --> 00:07:17.920 this surge. On the other hand, we have Algorand's 00:07:17.920 --> 00:07:20.680 largest DeFi protocol shutting down. It's always 00:07:20.680 --> 00:07:23.160 unfortunate to see operations come to a halt. 00:07:23.699 --> 00:07:26.399 Grayscale is calling out the SEC for approving 00:07:26.399 --> 00:07:29.720 leveraged Bitcoin futures ETFs while denying 00:07:29.720 --> 00:07:32.540 spot trading. It's a bit of a double standard, 00:07:32.560 --> 00:07:35.420 don't you think? And speaking of regulatory concerns, 00:07:35.939 --> 00:07:38.920 there are reports of a potential Brazilian CBDC 00:07:38.920 --> 00:07:41.139 that could allow the government to freeze or 00:07:41.139 --> 00:07:43.839 manipulate accounts. That raises eyebrows for 00:07:43.839 --> 00:07:47.360 sure. Paradigm is criticizing the SEC's actions 00:07:47.360 --> 00:07:50.040 against Bittrex in a new filing, highlighting 00:07:50.040 --> 00:07:52.699 some disagreements there. But that's not all. 00:07:53.199 --> 00:07:56.160 Arkham, a platform, might have accidentally revealed 00:07:56.160 --> 00:07:59.389 personal information of its users. Yikes. They 00:07:59.389 --> 00:08:01.850 might have some explaining to do. Moving to Singapore, 00:08:02.209 --> 00:08:04.750 we have Temasek, a prominent investment giant, 00:08:05.209 --> 00:08:07.329 pausing its crypto efforts due to regulatory 00:08:07.329 --> 00:08:09.829 uncertainty. It's a bummer when companies have 00:08:09.829 --> 00:08:12.069 to hit the brakes because of unclear regulations. 00:08:12.810 --> 00:08:15.149 However, Senators Lummis and Gillibrand are proposing 00:08:15.149 --> 00:08:17.930 an updated bill that classifies crypto assets 00:08:17.930 --> 00:08:20.550 as commodities, which could provide some clarity. 00:08:20.920 --> 00:08:23.660 In the market watch, SOL has re -entered the 00:08:23.660 --> 00:08:27.459 top 10 after a solid 15 % surge, while BTC is 00:08:27.459 --> 00:08:30.860 currently sitting below $1 .31K. It's always 00:08:30.860 --> 00:08:32.980 fascinating to see these price movements, and 00:08:32.980 --> 00:08:35.080 when it comes to mining stocks, they have been 00:08:35.080 --> 00:08:38.159 performing exceptionally well this year, outperforming 00:08:38.159 --> 00:08:41.379 spot BTC prices by a significant margin. There 00:08:41.379 --> 00:08:44.100 have been some noteworthy developments too. Sebo 00:08:44.100 --> 00:08:46.259 has reached a surveillance agreement with Coinbase 00:08:46.259 --> 00:08:49.730 for spot Bitcoin ETFs. and FTX is claiming to 00:08:49.730 --> 00:08:52.750 be online with its services. Grayscale's Bitcoin 00:08:52.750 --> 00:08:54.990 trust discount has also narrowed down to its 00:08:54.990 --> 00:08:58.470 lowest level since May 2022, which is worth noting. 00:08:58.929 --> 00:09:01.570 Shifting our focus to South Korea, regulators 00:09:01.570 --> 00:09:04.090 there want companies to disclose their crypto 00:09:04.090 --> 00:09:06.690 holdings from next year. It seems like transparency 00:09:06.690 --> 00:09:09.490 is becoming a key theme in the industry. And 00:09:09.490 --> 00:09:12.690 speaking of holdings, Vanguard Group, a major 00:09:12.690 --> 00:09:15.490 asset manager with over $7 trillion in assets 00:09:15.490 --> 00:09:18.590 under management, has purchased a 10 % stake 00:09:18.590 --> 00:09:21.669 in Bitcoin miner riot platforms. It's always 00:09:21.669 --> 00:09:23.690 interesting to see big players making moves in 00:09:23.690 --> 00:09:26.529 the crypto space. Finally, we have Joe Rogan, 00:09:26.710 --> 00:09:28.870 who recently mused about a future where Bitcoin 00:09:28.870 --> 00:09:31.830 becomes the only money worth anything. It's a 00:09:31.830 --> 00:09:34.269 thought provoking statement that sparks the imagination. 00:09:35.029 --> 00:09:37.230 Will we reach a point where Bitcoin reigns supreme? 00:09:37.889 --> 00:09:40.149 That wraps up our discussion for today. Stay 00:09:40.149 --> 00:09:42.009 tuned for more exciting updates from the world 00:09:42.009 --> 00:10:00.029 of cryptocurrencies. In today's episode, we covered 00:10:00.029 --> 00:10:02.429 a range of topics including Matic's impressive 00:10:02.429 --> 00:10:05.610 performance, the booming NFT market, exciting 00:10:05.610 --> 00:10:08.429 developments in the world of AI platforms, South 00:10:08.429 --> 00:10:10.929 Korea's push for crypto disclosures, Bitcoin 00:10:10.929 --> 00:10:13.909 price analysis, and a major investment in a Bitcoin 00:10:13.909 --> 00:10:16.889 miner. We also discussed the latest updates on 00:10:16.889 --> 00:10:19.629 Bitcoin supply, the closure of a major Algorand 00:10:19.629 --> 00:10:22.889 DeFi project, Grayscale's criticism of the SEC, 00:10:23.629 --> 00:10:26.519 Brazil's CBDC progress, and the recent changes 00:10:26.519 --> 00:10:29.000 to the crypto bill by senators. Please support 00:10:29.000 --> 00:10:32.100 us on Fountain .com, Nostra .Build, Spotify, 00:10:32.440 --> 00:10:36.840 Amazon Music, RSS .com, Pandora, Samsung Podcasts, 00:10:37.039 --> 00:10:39.860 Stitcher, Apple iTunes, iHeartRadio, and many 00:10:39.860 --> 00:10:42.039 more by adding a like, share, or subscribe for 00:10:42.039 --> 00:10:44.320 the Bitcoin Street Journal. Thanks for listening 00:10:44.320 --> 00:10:46.720 and your support. Thanks for listening to today's 00:10:46.720 --> 00:10:48.960 episode. I'll see you guys at the next one and 00:10:48.960 --> 00:10:50.000 don't forget to subscribe.