WEBVTT 00:00:14.899 --> 00:00:17.539 Welcome to the Bitcoin Street Journal, Bitcoin 00:00:17.539 --> 00:00:20.359 market update podcast, your daily source for 00:00:20.359 --> 00:00:23.100 live updates on the Bitcoin market. Join us as 00:00:23.100 --> 00:00:25.460 we delve into current Bitcoin technical analysis, 00:00:25.960 --> 00:00:30.019 track Bitcoin, BTC prices, explore market capitalization 00:00:30.019 --> 00:00:33.039 trends, and analyze market supply. Stay ahead 00:00:33.039 --> 00:00:34.899 of the curve with our comprehensive coverage 00:00:34.899 --> 00:00:37.899 of the ever -evolving world of Bitcoin. In today's 00:00:37.899 --> 00:00:40.920 episode, we'll cover the following topics. Long 00:00:40.920 --> 00:00:43.000 -term holders of Bitcoin reaching an all -time 00:00:43.000 --> 00:00:46.219 high supply Coinbase approved for Bitcoin futures 00:00:46.219 --> 00:00:49.340 trading El Salvador's successful Bitcoin strategy 00:00:49.600 --> 00:00:52.939 PayPal UK stopping Bitcoin purchases, tether 00:00:52.939 --> 00:00:55.899 ending support for certain blockchains, El Salvador 00:00:55.899 --> 00:00:58.259 adopting Bitcoin in Argentina's political win, 00:00:58.859 --> 00:01:01.100 the potential for hyperinflation in a Latin American 00:01:01.100 --> 00:01:04.219 country, and the SEC's skepticism on approving 00:01:04.219 --> 00:01:07.599 Bitcoin ETFs and the impact of Republican presidency. 00:01:11.040 --> 00:01:13.400 Hey there, Bitcoin enthusiasts. I've got some 00:01:13.400 --> 00:01:15.790 exciting news for you today. It looks like the 00:01:15.790 --> 00:01:17.969 supply of Bitcoin held by long -term holders 00:01:17.969 --> 00:01:21.829 has reached an all -time high at 14 .6 million 00:01:21.829 --> 00:01:24.829 Bitcoins. Wow, that's quite a significant number. 00:01:25.390 --> 00:01:27.569 These hodlers have been holding on to their digital 00:01:27.569 --> 00:01:30.010 coins for the long haul, and now they're reaping 00:01:30.010 --> 00:01:33.409 the benefits. Meanwhile, it seems that the supply 00:01:33.409 --> 00:01:36.209 of Bitcoin held by short -term holders has taken 00:01:36.209 --> 00:01:39.709 a dip. It's currently sitting at 2 .56 million 00:01:39.709 --> 00:01:42.670 Bitcoins, which is the lowest level we've seen 00:01:42.670 --> 00:01:46.129 since the end of 2021. It's always interesting 00:01:46.129 --> 00:01:48.310 to see how the balance between long -term and 00:01:48.310 --> 00:01:51.750 short -term holders shifts over time. Right now 00:01:51.750 --> 00:01:53.670 it seems like the long -term hodlers have the 00:01:53.670 --> 00:01:56.049 upper hand. Now here's some breaking news for 00:01:56.049 --> 00:01:58.930 our friends in the United States. Coinbase, one 00:01:58.930 --> 00:02:01.569 of the leading cryptocurrency exchanges, has 00:02:01.569 --> 00:02:03.810 been approved to offer Bitcoin futures trading. 00:02:04.189 --> 00:02:06.709 This is a big deal, folks. It's another step 00:02:06.709 --> 00:02:10.169 towards mainstream adoption of Bitcoin and cryptocurrencies 00:02:10.169 --> 00:02:12.879 in general. The United States continues to make 00:02:12.879 --> 00:02:15.780 exciting progress in embracing digital assets. 00:02:16.319 --> 00:02:18.740 Speaking of embracing cryptocurrencies, let's 00:02:18.740 --> 00:02:21.439 talk about El Salvador's Bitcoin strategy. It's 00:02:21.439 --> 00:02:24.319 safe to say that they are winning. El Salvador 00:02:24.319 --> 00:02:26.819 was the first country in the world to adopt Bitcoin 00:02:26.819 --> 00:02:29.419 as legal tender, and they've certainly made a 00:02:29.419 --> 00:02:32.400 splash in the crypto world. With their Bitcoin 00:02:32.400 --> 00:02:35.340 law in effect, Salvadorans can now use Bitcoin 00:02:35.340 --> 00:02:38.460 for everyday transactions. It's a bold move that 00:02:38.460 --> 00:02:41.479 has garnered global attention and sparked discussions 00:02:41.479 --> 00:02:44.560 about the future of money. In other news, we 00:02:44.560 --> 00:02:46.500 have an interesting development in the world 00:02:46.500 --> 00:02:49.240 of Bitcoin trading volume. It seems that we're 00:02:49.240 --> 00:02:51.719 currently at the lowest point ever recorded in 00:02:51.719 --> 00:02:54.080 terms of trading volume. This might surprise 00:02:54.080 --> 00:02:56.439 some of you considering the overall popularity 00:02:56.439 --> 00:02:59.030 and growth of Bitcoin. But hey, let's not panic 00:02:59.030 --> 00:03:01.490 just yet. Remember, the cryptocurrency market 00:03:01.490 --> 00:03:04.110 is known for its ups and downs, and fluctuations 00:03:04.110 --> 00:03:06.689 in trading volume are all part of the game. And 00:03:06.689 --> 00:03:10.210 now for some predictions. Tom Lee, the co -founder 00:03:10.210 --> 00:03:12.669 of FunStrat, has made some bold claims about 00:03:12.669 --> 00:03:15.370 Bitcoin's future price. According to him, if 00:03:15.370 --> 00:03:17.729 a Bitcoin spot ETF gets approved in the United 00:03:17.729 --> 00:03:20.569 States, we could see Bitcoin price skyrocketing 00:03:20.569 --> 00:03:24.090 to six figures. Yep, that's right, folks. Tom 00:03:24.090 --> 00:03:26.349 Lee believes that if this regulatory milestone 00:03:26.349 --> 00:03:29.189 is crossed, we could be looking at Bitcoin reaching 00:03:29.189 --> 00:03:34.990 prices between $150 ,000 to $180 ,000. Now that's 00:03:34.990 --> 00:03:37.330 something to keep an eye on. So there you have 00:03:37.330 --> 00:03:39.870 it, folks. The Bitcoin market is buzzing with 00:03:39.870 --> 00:03:42.750 activity. Long -term holders are holding strong. 00:03:43.110 --> 00:03:45.530 Short -term holders are decreasing. Coinbase 00:03:45.530 --> 00:03:47.590 is paving the way for futures trading in the 00:03:47.590 --> 00:03:50.469 US. El Salvador is leading the way in Bitcoin 00:03:50.469 --> 00:03:53.789 adoption. Trading volume is at a record low and 00:03:53.789 --> 00:03:56.129 a prominent figure like Tom Lee is making some 00:03:56.129 --> 00:03:58.770 intriguing predictions about Bitcoin's future. 00:03:59.610 --> 00:04:02.110 Exciting times ahead for the world of cryptocurrencies. 00:04:09.469 --> 00:04:11.770 Hey there! I've got some interesting news for 00:04:11.770 --> 00:04:14.370 you today in the world of cryptocurrencies. Let's 00:04:14.370 --> 00:04:16.889 jump right in. First up, we have some news from 00:04:16.889 --> 00:04:20.120 the UK. PayPal UK has decided to halt Bitcoin 00:04:20.120 --> 00:04:23.600 purchases starting from October 1st. This move 00:04:23.600 --> 00:04:26.100 has caught the attention of many Bitcoin enthusiasts. 00:04:26.839 --> 00:04:29.060 It's always intriguing to see how different companies 00:04:29.060 --> 00:04:31.699 and countries approach cryptocurrencies, isn't 00:04:31.699 --> 00:04:35.339 it? Moving on to the UAE, we have an exciting 00:04:35.339 --> 00:04:38.560 development. Abu Dhabi -based crypto exchange, 00:04:38.860 --> 00:04:41.240 M2 Exchange, has recently obtained a license 00:04:41.240 --> 00:04:43.379 to offer Bitcoin custody and multilateral trading 00:04:43.379 --> 00:04:46.170 services for UAE residents. This is great news 00:04:46.170 --> 00:04:48.829 for crypto enthusiasts in the region, as it provides 00:04:48.829 --> 00:04:51.810 them with more options and accessibility. Now 00:04:51.810 --> 00:04:54.269 let's head over to the United States. Ledger, 00:04:54.569 --> 00:04:57.290 a well -known cold wallet provider, has integrated 00:04:57.290 --> 00:05:00.370 its software with PayPal. This integration allows 00:05:00.370 --> 00:05:03.029 verified PayPal users in the US to buy Bitcoin 00:05:03.029 --> 00:05:05.750 directly through Ledger Live without the need 00:05:05.750 --> 00:05:09.009 for extra verification. This streamlined process 00:05:09.009 --> 00:05:11.170 makes it easier for users to get their hands 00:05:11.170 --> 00:05:14.009 on Bitcoin, and it's definitely a step in the 00:05:14.009 --> 00:05:16.620 right direction. Shifting gears a bit, let's 00:05:16.620 --> 00:05:19.079 talk about someone named Peter Schieff. It seems 00:05:19.079 --> 00:05:21.279 that he had some involvement with Bitcoin around 00:05:21.279 --> 00:05:23.939 a decade ago. It's always interesting to wonder 00:05:23.939 --> 00:05:26.180 what happened to individuals who were early adopters 00:05:26.180 --> 00:05:29.000 of cryptocurrencies. The crypto world is full 00:05:29.000 --> 00:05:32.279 of surprises and unexpected journeys. Switching 00:05:32.279 --> 00:05:34.480 our focus to Argentina, we have some concerning 00:05:34.480 --> 00:05:36.819 news about the devaluation of the Argentinian 00:05:36.819 --> 00:05:39.740 peso. The situation is prompting some people 00:05:39.740 --> 00:05:42.740 to consider investing in Bitcoin as a potential 00:05:42.740 --> 00:05:45.879 hedge against inflation. In fact, Michael Saylor, 00:05:46.040 --> 00:05:49.199 the CEO of MicroStrategy, famously said, buy 00:05:49.199 --> 00:05:51.779 Bitcoin before you need Bitcoin. It's a statement 00:05:51.779 --> 00:05:54.060 that resonates with many who see Bitcoin as a 00:05:54.060 --> 00:05:57.100 store of value in uncertain times. Speaking of 00:05:57.100 --> 00:05:59.680 Argentina, that image you mentioned is actually 00:05:59.680 --> 00:06:03.279 from two days ago. Currently, it would take 730 00:06:03.279 --> 00:06:07.639 Argentine pesos to get one USD. The fluctuation 00:06:07.639 --> 00:06:09.959 of currencies is something that often leads people 00:06:09.959 --> 00:06:12.399 to explore cryptocurrencies as an alternative. 00:06:12.779 --> 00:06:15.060 Now let's take a look at some interesting statistics. 00:06:15.939 --> 00:06:18.899 Did you know that if you made $500 ,000 per day 00:06:18.899 --> 00:06:21.540 every single day since the Great Pyramids were 00:06:21.540 --> 00:06:24.040 built, you would still have less than half of 00:06:24.040 --> 00:06:25.740 what the U .S. government has borrowed since 00:06:25.740 --> 00:06:28.639 June? These statistics, shared by the Orange 00:06:28.639 --> 00:06:31.319 Pill app on Twitter, highlight the immense scale 00:06:31.319 --> 00:06:33.879 of national debt. It's no wonder that some people 00:06:33.879 --> 00:06:36.040 believe Bitcoin could be a wise investment in 00:06:36.040 --> 00:06:38.959 these uncertain times. Finally, let's go back 00:06:38.959 --> 00:06:42.720 in time a bit. On November 18, 2004, the first 00:06:42.720 --> 00:06:45.939 gold exchange traded fund ETF in the US was approved. 00:06:46.540 --> 00:06:48.720 This marked a significant milestone in the financial 00:06:48.720 --> 00:06:51.839 world. Looking at the graph, it's clear that 00:06:51.839 --> 00:06:54.500 gold has seen a steady upward trend over the 00:06:54.500 --> 00:06:57.220 years. This raises the question, will Bitcoin 00:06:57.220 --> 00:07:00.180 follow a similar trajectory? It's a thought that 00:07:00.180 --> 00:07:02.560 has crossed the minds of many crypto enthusiasts. 00:07:03.100 --> 00:07:06.019 Well, there you have it. Some intriguing news 00:07:06.019 --> 00:07:08.819 and insights into the world of cryptocurrencies. 00:07:09.410 --> 00:07:11.970 The constantly evolving landscape of Bitcoin 00:07:11.970 --> 00:07:15.170 and other digital assets is sure to keep us all 00:07:15.170 --> 00:07:18.490 on our toes. So what do you think? Will Bitcoin 00:07:18.490 --> 00:07:20.829 be different from what we've seen before? It's 00:07:20.829 --> 00:07:22.709 always exciting to ponder the possibilities. 00:07:26.350 --> 00:07:28.750 Today I have some news to share with you. Tether, 00:07:28.990 --> 00:07:31.870 the popular stablecoin issuer, has recently announced 00:07:31.870 --> 00:07:34.649 that they will be ending support for three blockchains. 00:07:35.350 --> 00:07:39.790 OmniLayer, BCH SLP, and Kusama. Now, before you 00:07:39.790 --> 00:07:42.069 start panicking, let me assure you that this 00:07:42.069 --> 00:07:44.470 doesn't mean the end of Tether altogether. It 00:07:44.470 --> 00:07:46.750 simply means that Tether will no longer issue 00:07:46.750 --> 00:07:50.230 any new additional USDT tokens on these three 00:07:50.230 --> 00:07:53.589 blockchains. I know this decision might be disappointing 00:07:53.589 --> 00:07:56.230 for some of you, especially those who have been 00:07:56.230 --> 00:07:59.670 using the OmniLayer. The OmniLayer has been Tether's 00:07:59.670 --> 00:08:02.480 initial transport layer since 2014. However, 00:08:02.680 --> 00:08:05.839 over the years, the Omni layer has faced challenges, 00:08:06.379 --> 00:08:08.779 such as the lack of popular tokens and the availability 00:08:08.779 --> 00:08:12.660 of USDT on other blockchains. As a result, many 00:08:12.660 --> 00:08:15.300 exchanges have started favoring alternative transport 00:08:15.300 --> 00:08:18.660 layers, which has led to a decline in USDT usage 00:08:18.660 --> 00:08:21.579 on Bitcoin using the Omni layer. But let me assure 00:08:21.579 --> 00:08:23.899 you that Tether is a principled organization 00:08:23.899 --> 00:08:27.399 that values consistency and transparency. We 00:08:27.399 --> 00:08:29.879 believe in leveraging the most secure, audited, 00:08:30.079 --> 00:08:32.940 and decentralized blockchain ever built, Bitcoin. 00:08:33.419 --> 00:08:35.480 In fact, we are actively contributing to the 00:08:35.480 --> 00:08:38.840 development of RGB alongside Bitfinex and Fulgur 00:08:38.840 --> 00:08:42.159 Ventures. RGB is a client -side validated state 00:08:42.159 --> 00:08:44.480 and smart contract system that operates on layer 00:08:44.480 --> 00:08:48.159 2 and 3 of the Bitcoin ecosystem. RGB is a game 00:08:48.159 --> 00:08:51.100 changer. It functions both on -chain, Bitcoin 00:08:51.100 --> 00:08:54.980 L1, and on the Lightning network, offering unparalleled 00:08:54.980 --> 00:08:57.940 scalability. We firmly believe that RGB will 00:08:57.940 --> 00:09:00.879 usher in a new era for digital assets, smart 00:09:00.879 --> 00:09:03.320 contracts, and digital rights, and that it will 00:09:03.320 --> 00:09:05.419 receive comprehensive support from major players 00:09:05.419 --> 00:09:08.799 in our industry. Once USDT on RGB goes live, 00:09:09.240 --> 00:09:11.799 the world will witness USDT on another super 00:09:11.799 --> 00:09:14.879 powerful and scalable Bitcoin layer. If you haven't 00:09:14.879 --> 00:09:17.299 already checked out RGB, I strongly recommend 00:09:17.299 --> 00:09:19.879 that you do. It is a community -driven project, 00:09:20.139 --> 00:09:22.039 fully open source, and developed and maintained 00:09:22.039 --> 00:09:25.480 by super talented minds. The best part is, RGB 00:09:25.480 --> 00:09:28.179 does not require any other token. It is simply 00:09:28.179 --> 00:09:30.399 secured by Bitcoin, built by Bitcoiners with 00:09:30.399 --> 00:09:33.340 love. So, while we are ending support for three 00:09:33.340 --> 00:09:35.759 blockchains, we are also paving the way for a 00:09:35.759 --> 00:09:38.080 more efficient and scalable future on the Bitcoin 00:09:38.080 --> 00:09:40.360 network. We understand that change can be challenging, 00:09:40.539 --> 00:09:43.220 but it is necessary for progress. We want to 00:09:43.220 --> 00:09:45.659 thank you for your support and assure you that 00:09:45.659 --> 00:09:48.220 Tether remains committed to providing a stablecoin 00:09:48.220 --> 00:09:51.639 solution that is reliable, transparent, and secure. 00:09:52.059 --> 00:09:54.159 If you have any questions or need more information, 00:09:54.620 --> 00:09:57.059 please feel free to reach out to us. We value 00:09:57.059 --> 00:09:59.799 your feedback and are here to help. Together, 00:10:00.139 --> 00:10:02.200 let's embrace the advancements in blockchain 00:10:02.200 --> 00:10:05.120 technology and build a stronger and more inclusive 00:10:05.120 --> 00:10:21.159 financial system. Thank you, Paolo Arduino. We've 00:10:21.159 --> 00:10:23.179 got a lot to cover this week, so let's jump right 00:10:23.179 --> 00:10:25.860 into it. First up, we have some big news from 00:10:25.860 --> 00:10:28.500 El Salvador. The country recently made headlines 00:10:28.500 --> 00:10:32.179 by adopting Bitcoin as legal tender. This move 00:10:32.179 --> 00:10:34.360 has sparked a lot of debate and discussion within 00:10:34.360 --> 00:10:37.580 the crypto community. Many see it as a groundbreaking 00:10:37.580 --> 00:10:40.220 step towards mainstream adoption, while others 00:10:40.220 --> 00:10:42.539 have expressed concerns about the potential risks 00:10:42.539 --> 00:10:45.279 and challenges involved. Next, let's talk about 00:10:45.279 --> 00:10:49.049 Javier Millet's win in Argentina. Mille, a libertarian 00:10:49.049 --> 00:10:52.029 economist, secured a surprising victory in the 00:10:52.029 --> 00:10:54.850 recent legislative elections. His win has been 00:10:54.850 --> 00:10:57.190 seen as a positive development for the cryptocurrency 00:10:57.190 --> 00:11:00.169 industry, as he is known for his support of Bitcoin 00:11:00.169 --> 00:11:03.190 and free market policies. It will be interesting 00:11:03.190 --> 00:11:05.490 to see how his presence in the government will 00:11:05.490 --> 00:11:08.690 impact the crypto landscape in Argentina. Now, 00:11:08.909 --> 00:11:11.350 let's switch gears and talk about central bank 00:11:11.350 --> 00:11:13.929 issues. Central banks around the world have been 00:11:13.929 --> 00:11:16.250 closely monitoring the rise of cryptocurrencies. 00:11:16.669 --> 00:11:18.769 Some are considering launching their own digital 00:11:18.769 --> 00:11:21.389 currencies, while others are cautiously observing 00:11:21.389 --> 00:11:24.250 from the sidelines. The involvement of central 00:11:24.250 --> 00:11:26.450 banks in the crypto space could have significant 00:11:26.450 --> 00:11:28.529 implications for the future of cryptocurrencies. 00:11:29.490 --> 00:11:32.610 Moving on, let's address the hot topic of U .S. 00:11:32.830 --> 00:11:35.370 inflation. In recent months, the United States 00:11:35.370 --> 00:11:38.049 has been grappling with soaring inflation rates. 00:11:38.529 --> 00:11:40.730 This has led to concerns among investors and 00:11:40.730 --> 00:11:42.990 economists about the stability of traditional 00:11:42.990 --> 00:11:45.909 fiat currencies. Many have turned to Bitcoin 00:11:45.909 --> 00:11:48.769 as a potential hedge against inflation as its 00:11:48.769 --> 00:11:51.149 decentralized nature and limited supply make 00:11:51.149 --> 00:11:53.769 it an attractive store of value. Speaking of 00:11:53.769 --> 00:11:55.830 store of value, let's take a trip down memory 00:11:55.830 --> 00:11:58.090 lane and revisit Richard Nixon's decision to 00:11:58.090 --> 00:12:00.870 abandon the gold standard. This pivotal moment 00:12:00.870 --> 00:12:03.190 in history has had far -reaching consequences 00:12:03.190 --> 00:12:05.649 and has played a significant role in shaping 00:12:05.649 --> 00:12:08.090 the global financial system as we know it today. 00:12:08.970 --> 00:12:11.330 Understanding this historical context can provide 00:12:11.330 --> 00:12:14.230 valuable insights into the current state of cryptocurrencies 00:12:14.230 --> 00:12:17.330 and their potential impact on the future of money. 00:12:18.110 --> 00:12:20.690 And finally, let's end on a lighter note with 00:12:20.690 --> 00:12:23.610 a song about the declining value of money. We 00:12:23.610 --> 00:12:25.710 all know that inflation erodes the purchasing 00:12:25.710 --> 00:12:28.370 power of our hard -earned cash, and this catchy 00:12:28.370 --> 00:12:30.509 tune reminds us of the importance of seeking 00:12:30.509 --> 00:12:33.409 alternative forms of wealth preservation. It's 00:12:33.409 --> 00:12:35.350 a fun way to raise awareness about the benefits 00:12:35.350 --> 00:12:37.929 of cryptocurrencies as a hedge against inflation. 00:12:38.220 --> 00:12:40.419 Now let's move on to some exciting developments 00:12:40.419 --> 00:12:43.600 in the world of Bitcoin businesses. Custody firm 00:12:43.600 --> 00:12:46.000 Bitgo has been experiencing impressive growth 00:12:46.000 --> 00:12:49.919 with a 60 % increase in clients and a 20 % boost 00:12:49.919 --> 00:12:53.659 in assets under custody, AUC. To further fuel 00:12:53.659 --> 00:12:56.519 their expansion, they recently secured $100 million 00:12:56.519 --> 00:12:59.480 in Series C funding. These milestones highlight 00:12:59.480 --> 00:13:02.200 the growing demand for reliable and secure cryptocurrency 00:13:02.200 --> 00:13:05.379 custody services. In other news, Blockstream 00:13:05.379 --> 00:13:08.539 CEO Adam Back has made a bold prediction. He 00:13:08.539 --> 00:13:10.700 believes that we could see Bitcoin reach a new 00:13:10.700 --> 00:13:14.059 all -time high of 100 ,000 or even more before 00:13:14.059 --> 00:13:16.879 the next halving event. This optimistic outlook 00:13:16.879 --> 00:13:19.659 reflects the continued optimism surrounding Bitcoin's 00:13:19.659 --> 00:13:22.340 long -term potential and its ability to attract 00:13:22.340 --> 00:13:25.419 new investors. But it's not just CEOs making 00:13:25.419 --> 00:13:28.580 waves in the Bitcoin world. We recently witnessed 00:13:28.580 --> 00:13:31.559 a fascinating event where 1 ,005 Bitcoin were 00:13:31.559 --> 00:13:34.759 transferred after 13 years of address inactivity. 00:13:35.159 --> 00:13:37.600 It turns out that someone finally found the keys 00:13:37.600 --> 00:13:40.519 to their wallet, unlocking a substantial amount 00:13:40.519 --> 00:13:43.299 of cryptocurrency. This serves as a reminder 00:13:43.299 --> 00:13:45.860 of the importance of securely storing your private 00:13:45.860 --> 00:13:48.740 keys and the potential value they can hold over 00:13:48.740 --> 00:13:51.960 time. Lastly, we have Peter Dunworth, a prominent 00:13:51.960 --> 00:13:54.659 Bitcoin advisor, predicting that Bitcoin could 00:13:54.659 --> 00:13:58.340 reach a staggering valuation of $7 billion USD. 00:13:58.750 --> 00:14:01.570 In a recent interview, he shared his insights 00:14:01.570 --> 00:14:04.710 on the factors driving Bitcoin's growth and his 00:14:04.710 --> 00:14:07.830 bullish outlook for its future. It's always interesting 00:14:07.830 --> 00:14:10.289 to hear different perspectives on Bitcoin's potential 00:14:10.289 --> 00:14:13.330 as it highlights the diverse range of opinions 00:14:13.330 --> 00:14:16.009 within the crypto community. Well, that's a wrap 00:14:16.009 --> 00:14:18.990 for this episode of the Bitcoin podcast. We hope 00:14:18.990 --> 00:14:20.850 you enjoyed our discussion on the latest news 00:14:20.850 --> 00:14:23.529 and developments in the world of Bitcoin. Stay 00:14:23.529 --> 00:14:25.769 tuned for more exciting episodes coming your 00:14:25.769 --> 00:14:28.360 way soon. Until then, keep hodling and stay crypto 00:14:28.360 --> 00:14:35.100 savvy. Breaking news. Bitcoin is currently on 00:14:35.100 --> 00:14:37.879 discount, so it's the perfect time to keep stacking 00:14:37.879 --> 00:14:41.179 those SATs. This limited supply is definitely 00:14:41.179 --> 00:14:43.600 something to take advantage of. But let's switch 00:14:43.600 --> 00:14:45.840 gears for a moment and talk about a rather intriguing 00:14:45.840 --> 00:14:49.600 question. Is Bitcoin alien technology? Well, 00:14:49.740 --> 00:14:52.779 the short answer is no. Bitcoin is not of extraterrestrial 00:14:52.779 --> 00:14:55.340 origin. It was actually created by an anonymous 00:14:55.340 --> 00:14:57.580 individual or group of individuals using the 00:14:57.580 --> 00:15:00.580 pseudonym Satoshi Nakamoto. Satoshi introduced 00:15:00.580 --> 00:15:02.700 the world to Bitcoin in a white paper published 00:15:02.700 --> 00:15:05.940 in 2008, and the first block of the Bitcoin blockchain, 00:15:06.519 --> 00:15:09.120 also known as the Genesis block, was mined in 00:15:09.120 --> 00:15:12.620 January 2009. Now why has this misconception 00:15:12.620 --> 00:15:15.220 about Bitcoin being alien technology arisen? 00:15:15.759 --> 00:15:17.740 Well, it might be because of its revolutionary 00:15:17.740 --> 00:15:19.960 nature and the cryptographic principles behind 00:15:19.960 --> 00:15:23.080 it. Bitcoin operates on a decentralized network 00:15:23.080 --> 00:15:25.860 known as a blockchain, which ensures transparency, 00:15:26.120 --> 00:15:29.120 security, and immutability. But these characteristics 00:15:29.120 --> 00:15:32.000 are not exclusive to alien technology. They are 00:15:32.000 --> 00:15:34.220 simply innovations within the realm of computer 00:15:34.220 --> 00:15:37.840 science and cryptography. So, while Bitcoin may 00:15:37.840 --> 00:15:40.299 be out of this world in terms of its disruptive 00:15:40.299 --> 00:15:43.200 potential and the new possibilities it offers, 00:15:43.659 --> 00:15:46.320 it is definitely not of extraterrestrial origin. 00:15:46.759 --> 00:15:49.960 It's a product of human creativity, ingenuity, 00:15:50.120 --> 00:15:53.240 and a desire for financial sovereignty. Speaking 00:15:53.240 --> 00:15:55.080 of financial sovereignty, let's switch topics 00:15:55.080 --> 00:15:56.860 again and talk about those who are threatening 00:15:56.860 --> 00:15:59.559 even more rate hikes. Yes, we're talking about 00:15:59.559 --> 00:16:01.759 the traditional financial institutions and central 00:16:01.759 --> 00:16:04.620 banks. It seems like every few months they're 00:16:04.620 --> 00:16:06.700 increasing interest rates, making it harder for 00:16:06.700 --> 00:16:08.379 individuals to keep their hard -earned money 00:16:08.379 --> 00:16:11.720 intact. But fear not. There is a way to escape 00:16:11.720 --> 00:16:14.159 this constant dive into financial uncertainty. 00:16:14.659 --> 00:16:17.539 It's called Bitcoin. With Bitcoin, you have the 00:16:17.539 --> 00:16:19.899 power to take control of your finances and hedge 00:16:19.899 --> 00:16:23.059 against inflation. You don't have to rely on 00:16:23.059 --> 00:16:25.440 centralized authorities' decision -making processes 00:16:25.440 --> 00:16:28.779 when it comes to your wealth anymore. So instead 00:16:28.779 --> 00:16:32.080 of diving deeper into the financial chaos, consider 00:16:32.080 --> 00:16:34.799 diving into the world of Bitcoin and reap the 00:16:34.799 --> 00:16:37.399 benefits of a decentralized and limited supply 00:16:37.399 --> 00:16:40.399 currency. Now let's shift our focus to a different 00:16:40.399 --> 00:16:43.580 aspect of Bitcoin, one that goes beyond financial 00:16:43.580 --> 00:16:46.460 benefits. We're talking about its potential to 00:16:46.460 --> 00:16:49.159 revolutionize the music industry. Let's take 00:16:49.159 --> 00:16:51.919 the example of UK singer -songwriter Joe Martin. 00:16:52.639 --> 00:16:54.700 Joe Martin's story is a perfect illustration 00:16:54.700 --> 00:16:57.539 of the concept of value for value. So what is 00:16:57.539 --> 00:17:01.090 this concept all about? In simple terms, It's 00:17:01.090 --> 00:17:03.250 a relationship between creators and consumers 00:17:03.250 --> 00:17:06.009 where the value exchanged is not solely monetary. 00:17:06.769 --> 00:17:09.990 Instead, it's a mutual understanding that consumers 00:17:09.990 --> 00:17:13.029 value the content creators provide, and in return, 00:17:13.309 --> 00:17:16.269 they support them directly. In Joe's case, he 00:17:16.269 --> 00:17:18.309 decided to experiment with value -for -value 00:17:18.309 --> 00:17:20.789 platforms, and it turned out to be a game changer 00:17:20.789 --> 00:17:23.789 for him. In just a 30 -day period, by logging 00:17:23.789 --> 00:17:26.309 his track, High Gravity, on these platforms, 00:17:26.650 --> 00:17:30.170 he earned £80. Now, you might say that 80 pounds 00:17:30.170 --> 00:17:32.509 doesn't sound like a massive amount, but here's 00:17:32.509 --> 00:17:35.430 the catch. In the previous five years of streaming 00:17:35.430 --> 00:17:38.069 his music on traditional platforms, Joe only 00:17:38.069 --> 00:17:41.190 made 32 pounds in total revenue. This means that 00:17:41.190 --> 00:17:44.630 in just four weeks, Joe managed to increase his 00:17:44.630 --> 00:17:47.930 earnings by 2 .5 times compared to what he earned 00:17:47.930 --> 00:17:51.130 in the previous five years. This is a significant 00:17:51.130 --> 00:17:54.150 boost for any artist and it highlights the tremendous 00:17:54.150 --> 00:17:57.279 potential of value -for -value platforms. Just 00:17:57.279 --> 00:17:59.380 imagine the impact it could have on the music 00:17:59.380 --> 00:18:01.980 industry as a whole when artists can earn two 00:18:01.980 --> 00:18:04.099 and a half times more than they would on traditional 00:18:04.099 --> 00:18:07.759 platforms. It's truly remarkable. And it's not 00:18:07.759 --> 00:18:10.759 just about the money. Value for value platforms 00:18:10.759 --> 00:18:13.359 allow listeners to directly support the creators 00:18:13.359 --> 00:18:16.660 they enjoy, fostering a stronger sense of connection 00:18:16.660 --> 00:18:20.099 and appreciation. It's a win -win situation that 00:18:20.099 --> 00:18:23.880 benefits both artists and fans. So... Get ready 00:18:23.880 --> 00:18:26.019 to hear more success stories like Joe's in the 00:18:26.019 --> 00:18:28.740 coming months and years. As more artists discover 00:18:28.740 --> 00:18:31.920 the power of value for value platforms, the music 00:18:31.920 --> 00:18:34.900 industry will experience a transformation. The 00:18:34.900 --> 00:18:37.400 traditional gatekeepers will no longer have complete 00:18:37.400 --> 00:18:40.319 control over artists' destinies. It's only a 00:18:40.319 --> 00:18:42.299 matter of time before we see a shift towards 00:18:42.299 --> 00:18:45.160 a more equitable and artist -friendly ecosystem. 00:18:46.000 --> 00:18:48.720 So in conclusion, Bitcoin is not alien technology. 00:18:49.240 --> 00:18:52.039 It's a human creation that offers financial sovereignty. 00:18:52.400 --> 00:18:54.920 It's the perfect time to stack those SATs while 00:18:54.920 --> 00:18:57.700 it's on discount. And as we witness more success 00:18:57.700 --> 00:19:00.259 stories like Joe Martin's, where artists earn 00:19:00.259 --> 00:19:03.059 2 .5 times more on value for value platforms, 00:19:03.740 --> 00:19:05.680 we can't help but be excited about the future. 00:19:06.180 --> 00:19:08.319 The music industry is on the verge of a revolution, 00:19:08.819 --> 00:19:10.960 and it's all thanks to the power of direct support 00:19:10.960 --> 00:19:13.759 from fans. So keep an eye out for more incredible 00:19:13.759 --> 00:19:16.299 stories and get ready to embrace a new era in 00:19:16.299 --> 00:19:26.420 music. Hey there! Today, let's dive into a topic 00:19:26.420 --> 00:19:29.740 that's been making headlines lately. Hyperinflation. 00:19:29.960 --> 00:19:32.019 Brace yourself, because it might hit closer to 00:19:32.019 --> 00:19:34.880 home than you think. Picture this. You're sitting 00:19:34.880 --> 00:19:37.519 comfortably on your couch, sipping a cup of coffee. 00:19:38.140 --> 00:19:40.619 Suddenly, a breaking news alert pops up on your 00:19:40.619 --> 00:19:43.400 TV screen, announcing that hyperinflation is 00:19:43.400 --> 00:19:46.140 on its way to your country. Yikes! That's when 00:19:46.140 --> 00:19:48.799 you know things are about to get real. So, what 00:19:48.799 --> 00:19:51.869 exactly is hyperinflation? Well, simply put, 00:19:52.109 --> 00:19:54.589 it's an economic phenomenon where prices skyrocket 00:19:54.589 --> 00:19:57.150 at an extremely rapid pace. We're not talking 00:19:57.150 --> 00:19:59.690 about a slight increase in prices here. No, no, 00:19:59.910 --> 00:20:01.750 this is the kind of inflation that can make your 00:20:01.750 --> 00:20:04.650 head spin. Recently, the central bank of your 00:20:04.650 --> 00:20:06.990 country decided to take action and raise interest 00:20:06.990 --> 00:20:10.829 rates by a whopping 21 points. Yes, you heard 00:20:10.829 --> 00:20:13.289 that right. They hiked the rates all the way 00:20:13.289 --> 00:20:17.349 up to a staggering 118%. That's enough to make 00:20:17.349 --> 00:20:20.539 anyone gasp in disbelief. But that's not all. 00:20:21.359 --> 00:20:23.299 Hold onto your hats because here comes the next 00:20:23.299 --> 00:20:25.619 shocker. The value of your country's currency, 00:20:25.759 --> 00:20:28.960 the peso, has weakened by a mind -boggling 97 00:20:28.960 --> 00:20:31.900 .6 % against the dollar in just this year alone. 00:20:32.460 --> 00:20:35.559 Imagine your currency losing almost all its value 00:20:35.559 --> 00:20:37.900 in such a short span of time. It's certainly 00:20:37.900 --> 00:20:40.180 not something you'd want to experience firsthand. 00:20:41.420 --> 00:20:44.019 Now, let's zoom out a bit and take a wider look 00:20:44.019 --> 00:20:46.660 at the situation. Your country is referred to 00:20:46.660 --> 00:20:49.279 as a Latin American giant, so you'd expect it 00:20:49.279 --> 00:20:52.259 to have a strong and stable economy. Unfortunately, 00:20:52.339 --> 00:20:54.359 that's not the case at the moment. It's going 00:20:54.359 --> 00:20:57.519 through a period of deep economic malaise. Ouch. 00:20:58.039 --> 00:21:00.220 To give you a better idea, the annual inflation 00:21:00.220 --> 00:21:04.140 rate is sitting at a whopping 115%. Yes, you 00:21:04.140 --> 00:21:06.359 read that right. Just think about how hard it 00:21:06.359 --> 00:21:08.839 would be to keep up with such astronomical increases 00:21:08.839 --> 00:21:11.660 in prices. Your monthly budget would go haywire, 00:21:11.660 --> 00:21:14.109 to say the least. And if that wasn't alarming 00:21:14.109 --> 00:21:16.750 enough, let's talk about poverty. It's a harsh 00:21:16.750 --> 00:21:19.369 reality that affects far too many people. In 00:21:19.369 --> 00:21:22.210 your country, it has reached a staggering 40%. 00:21:22.210 --> 00:21:24.930 That means almost half of the population is struggling 00:21:24.930 --> 00:21:27.769 to make ends meet. It's heart -wrenching to think 00:21:27.769 --> 00:21:30.890 about the hardships they must be enduring. So 00:21:30.890 --> 00:21:32.990 what does all of this actually mean for you? 00:21:33.490 --> 00:21:35.470 Well, hyperinflation could have a significant 00:21:35.470 --> 00:21:38.849 impact on your daily life. Suddenly, basic necessities 00:21:38.849 --> 00:21:41.089 like food, clothing, and even housing become 00:21:41.089 --> 00:21:43.619 harder to afford. Your hard -earned savings lose 00:21:43.619 --> 00:21:45.539 their value and you might find yourself in a 00:21:45.539 --> 00:21:47.759 constant state of financial worry. But don't 00:21:47.759 --> 00:21:49.920 lose hope just yet. There have been cases in 00:21:49.920 --> 00:21:51.920 the past where countries managed to overcome 00:21:51.920 --> 00:21:55.420 hyperinflation and restore stability. It won't 00:21:55.420 --> 00:21:58.059 be easy, but with the right strategies and policies, 00:21:58.440 --> 00:22:00.619 there is a glimmer of hope for a brighter future. 00:22:01.299 --> 00:22:03.720 It's important to stay informed and be proactive 00:22:03.720 --> 00:22:06.680 during times like these. Educate yourself on 00:22:06.680 --> 00:22:09.299 the current economic situation and how it might 00:22:09.299 --> 00:22:12.329 affect you personally. Make the necessary adjustments 00:22:12.329 --> 00:22:14.970 to your finances and explore ways to protect 00:22:14.970 --> 00:22:18.190 the value of your money. Don't hesitate to seek 00:22:18.190 --> 00:22:20.869 advice from financial experts who can guide you 00:22:20.869 --> 00:22:24.309 through these challenging times. Remember, you're 00:22:24.309 --> 00:22:27.589 not alone in this. The entire nation is affected 00:22:27.589 --> 00:22:30.309 and it takes collective efforts to bring about 00:22:30.309 --> 00:22:33.490 change. Keep an eye on both local and international 00:22:33.490 --> 00:22:36.230 developments as they can provide valuable insights 00:22:36.230 --> 00:22:39.430 into potential solutions. As we navigate through 00:22:39.430 --> 00:22:42.329 these uncertain times, let's hope for the best 00:22:42.329 --> 00:22:45.190 and work towards a more stable economic future. 00:22:45.809 --> 00:22:48.450 Together, we can overcome the challenges posed 00:22:48.450 --> 00:22:51.450 by hyperinflation and build a stronger and more 00:22:51.450 --> 00:22:54.450 resilient society. And that's a wrap for today. 00:22:55.170 --> 00:22:56.769 Thanks for joining me on this whirlwind tour 00:22:56.769 --> 00:22:59.630 of hyperinflation. Stay informed, stay vigilant, 00:22:59.630 --> 00:23:02.410 and remember, you have the power to make a difference. 00:23:02.630 --> 00:23:08.640 Until next time. The approval of Bitcoin ETFs 00:23:08.640 --> 00:23:11.740 is a topic of much debate and skepticism. Many 00:23:11.740 --> 00:23:14.059 are questioning whether the SEC will give the 00:23:14.059 --> 00:23:16.319 green light to a spot Bitcoin Exchange Traded 00:23:16.319 --> 00:23:20.200 Fund, ETF, amidst concerns about market manipulation. 00:23:21.099 --> 00:23:24.140 Former SEC official John Reed Stark recently 00:23:24.140 --> 00:23:26.599 shared his insights on the chances of such an 00:23:26.599 --> 00:23:29.759 approval. Stark believes that the potential impact 00:23:29.759 --> 00:23:33.619 of a Republican presidency in 2024 could play 00:23:33.619 --> 00:23:36.930 a significant role in the approval process. He 00:23:36.930 --> 00:23:39.470 points to an SEC comments letter submitted by 00:23:39.470 --> 00:23:42.630 Better Markets, an advocacy group, which raises 00:23:42.630 --> 00:23:44.829 important concerns about the current state of 00:23:44.829 --> 00:23:47.589 spot Bitcoin markets. It's worth noting that 00:23:47.589 --> 00:23:50.210 buying Bitcoin does not necessarily require a 00:23:50.210 --> 00:23:53.230 Bitcoin spot ETF. This reminds us that there 00:23:53.230 --> 00:23:55.630 are alternative ways to invest in Bitcoin without 00:23:55.630 --> 00:23:58.670 waiting for regulatory approval. In the current 00:23:58.670 --> 00:24:00.710 landscape, a quote from Charles Dickens seems 00:24:00.710 --> 00:24:03.150 fitting. It was the best of times. It was the 00:24:03.150 --> 00:24:06.240 worst of times. We find ourselves at a crossroads 00:24:06.240 --> 00:24:08.799 between central bank digital currencies and Bitcoin. 00:24:09.420 --> 00:24:12.799 The question is, which path will we choose? Will 00:24:12.799 --> 00:24:15.339 we embrace the potential of decentralized digital 00:24:15.339 --> 00:24:18.079 currency or surrender to a system tied to traditional 00:24:18.079 --> 00:24:20.980 banks? These are crucial questions and the SEC's 00:24:20.980 --> 00:24:23.539 decision on the Bitcoin ETF will play a part 00:24:23.539 --> 00:24:41.400 in shaping the future of cryptocurrencies. Thanks 00:24:41.400 --> 00:24:43.500 for tuning into today's episode where we covered 00:24:43.500 --> 00:24:46.079 a wide range of topics, including a surge in 00:24:46.079 --> 00:24:48.720 long -term holders of Bitcoin, the success of 00:24:48.720 --> 00:24:51.640 El Salvador's Bitcoin strategy, Tether's decision 00:24:51.640 --> 00:24:54.700 to end support for certain blockchains, and the 00:24:54.700 --> 00:24:57.220 potential impact of a Republican presidency on 00:24:57.220 --> 00:24:59.980 the approval of a Bitcoin ETF. Don't forget to 00:24:59.980 --> 00:25:01.500 subscribe and I'll see you at the next one.