Bitcoin Hits $98K! Will $100K Finally Break Today? | Crypto Town Hall
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Good morning, everybody. IT is ten nineteen am on thursday of every twenty second in bitcoin has hit ninety eight thousand dollars.

Talk of those who were here over the summer and said that he was impossible for big to hit a hundred thousand dollars or come close in two only november and just got about two percent shy of that happening, looks like the standard charter and toes and the asses of the world were corrected, IT was told possible the quality reminder how fast infuriated sly bitcoin can move when IT does and why you never want to be sideline waiting for an entry. You look back, the biggest moves on bitcoin always happened ten to twenty days of the year. The rest is usually basically sideways chop or downside action.

So you should take this as a reminder that this is not asset that you want to be sidelined and playing around trying to yet the best entry on because when he goes IT goes up fast, very, very, very fast. So ninety eight thousand dollars. Here we have an article that E, P, T, C at its lost point in four years, uh, doesn't from cricket.

As late. I just tweet about its total wrong. Uh, I love the narrative because, uh, piton and cypher to travel in four years cycles as we know.

So if if is at a four year low versus bitcoin and we have a four year cycle, what does that mean to you for the future of a theory versus big going at least for the cycle seems for the obvious. But the article saying that point o three three was allow for four years ah that reached the low roughly of march of twenty five. Uh last eject the h twenty one.

Excuse me, last four years ago, actually biton ef air was on monday the twenty first december of twenty twenty in the last four years. And that was that point o two, two, seven, five or a point o three, four. So much, much lower if you guys look at those articles.

But either way, let's dive into the actual market right now week, we obviously had a chat yesterday kind of joke that all coins always get right on wednesday before we do our shows. Uh, youtube, just to keep an interesting for us, but we do have this big bitcoin move up to nine, eight thousand. And right after that happen, we actually saw a bit of a drop in dominance and a nice little move to be upside on etherium. There's a lot of people who said, hey, lesson months, we get to a hundred we can get all season. Do you think that we are starting to see potentially something like bad staring?

Yeah look, I I I I do think that it's close, but um I think what's on everyone's mind is you know what's gona happen? One hundred k and I think that needs to resolve, and I do think is a good chance that add one hundred k you know, maybe we get a little bit push back and some sideways action, right? Try to push past at her key barrier.

Maybe maybe that's the time that all swam up. You know that's kind of what i'm thinking. It's what everything lies up with. Uh, i'll be very surprised if we do just kind of melt three hundred with all this chatter around IT. So yeah, I just paying attention to the charts and you know being ready.

I mean, this run has been absolutely insane to fall as something how you viewing this right now? You're obviously trading day and day out pretty consistently. What are you doing here? How you're positioning?

Uh yeah he's got um I mean possible just from a market. B O, B. It's it's interesting to see particularly how all so fair recently uh I think a looking at sentiment you'd be forgiven for thinking that uh you know the market was was dead and encrypt t is over.

Um and I think that is indicative of how uh under expose people are to B T C and how over exposed they they are and have been to underperforming ots. Uh looking at B T C dominance, it's just been on a crazy tair. Um basically for for for two nine years like like eight hundred days or something like that, it's just been off only um but that's kind of know different to pass cycles.

I know this cycle truly is different because of institutional involvement. So there is an element of of really uh something that has had has never been there before this time around. I really say that but even looking at uh you know in twenty twenty the the that all time high break IT was pretty much the same.

No B T C and all to went up together initially um and around november uh B T C started to to to run up on a zone. B T C dominant started to to tear up and sentiment that the time was such that you know maybe this time is different. Maybe this time is going to be B T C C S and only and also never gonna get a run.

Uh however, course that wasn't to be a few months later B T C dominance gna talk about B T C started consolidating and old Scott a crazy iron as we all know um and naco insider with all the east getting a room and eat B2C kin d of pum ping up to to wha t is wha t we now kno w is kin d bra inchild yea h it' s it' s it' s fun ny to loo k at the mar ket the las t par ticularly the las t few day s mos t of mea n coi ns wen t you kno w dow n som ething lik e min us for ty min us fif ty per cent of the hig hs he had uh twe nty yea rs doi ng min us twe nty min us thi rty per cent dai ly can dles. Um while B G C was putting in new all time high after new all time high um but I do think that so far we have nothing to suggest that this time will be any different previous cycles. I do think that eventually B T C dominance top out, bitcoin will consolidate, whether it's at a hundred k one hundred k plus.

So one hundred k and money will rotate into all olds will have the run. E B T C will have its run um if will have its its run and I do think we see a coron vote. I hate using this word, but we will see in all season yeah IT .

might be a different looking outside and i'm taking a look right now bit going dominant to charge just for reference, when we talk about four years cycles and went all expected to move, there's been so much uh, I think people is very disillusions that it's only been select points about performing bin and that the theories have not moved yet.

But taking a look at the chart and looking at dominance right now, the very top of bitcoin dominance in twenty twenty at the end of the cycle there, uh yeah the the high was basically seventy three point six three percent or at sixty point eight for reference. So bitcoin dominance, ince a different market, this moral points, but biton dominance was almost seventy four percent uh, in december and IT topped a huge move to the upside and then topped at the basically Christmas of december of twenty twenty. So important to remind people that as much as we've gotten ahead of ourselves of the earlier all time high because of etf on bitcoin, all coins are still doing exactly what there's supposed to be doing at this point in the cycle, which is getting recked by bitcoin until bitcoin kind of chills and you get the choice.

So we're still a month out from doesn't mean has to be the same, but where a month out from when dominance topped in the last cycle, uh, I I think that's an important point of reference for people to have. And dominance obviously tends to top out at a lower point, make A A sort of a lower high each psych ming going back two thousand sixteen, uh, I mean, between dominant basically was kind of almost similar. But I was a little earlier.

I guess that was yeah right in december of sixteen. The same thing. It's the same thing.

Yeah, if you're in an old coin traitor, I would look at the total three art and and get excited about IT because IT looks fantastic. IT looks amazing IT IT looks so much Better now that I did two weeks go really looks like he wants to clear the the twenty twenty one high and kind of put us into Prices story on the chart. Uh, as many of .

you total critter .

market cap without B T, C and e effect to be the old coin market up and IT just looks insane. We push you really those look like he wants to put in uh a high or high on that chart and really take us into all season territory.

And also important, I feel, look at just the total market cap. We've surpassed three trillion. That was the top of the entire last four run, and we haven't have been started again.

So the market cap of the total cyp to space has surpassed about three point two trillion. Now three trilling was the top of the entire last cycle in twenty twenty one. So I think a lot of optimism as to what may likely be coming for, for the cycle.

Dave, how are you looking at this at the moment? Obviously, we've pushed very, very far on bitcoin. Microstrip gy has pushed even further. Any thought here? Or do you think this is Normal sort of movement?

Well, it's not seclor. It's secular. And that's why I don't think it's froth in. I think that we have to wait to see who the final moments are obviously there this britain's battle royal going over treasure. But if you end up with a treasury secretary who publicly supports are at least privately supports the lamas bill um if you think this is crazy here, it's not I mean, keep in mind in, I remember, would run up in seventeen quite well.

I remember because there was the china foot incident, which took bit going down forty percent and then a bit effectively, I went up two and a half times from the lows just to get to five thousand. And we saw the low of top in december, which was four x. You're calling a crazy that the sum total of the entirety of the move over the multiple months, fifty percent.

So you know, this is entirely possible that there is craziness potentially ahead, uh, but IT really depends upon the narrative is in fact, we are going to end up with some sort of to he to reserve in bitcoin then all best off. And that is not remotely ico. Now that pertains to also driven by the profit taking of people in bitcoin.

Okay, bitcoins run, of course. Let's see where else I can make money in the casino. But when runs up or driven by spot buying from bitcoin, the questioning is how much money is going to get taken off the table from the genes to invest in ots.

And that's why you get this sort of cycle. I don't think this time will be particularly different. I think I will be similar, right? You and I tend to agree on that. But I think you're right. I think that's out. I think until we actually see where bitcoin starts to really stall and I mean stall for an hour or half a day, I mean soil for week um at that point, that's when you get that tipping point. People were like, okay, let's move to the new heart thing.

Simon.

yeah I say, you know people like to say that this time is different because we've got institutional and but no, we've always had this time is different at every cycle. So you know the first cycle IT was all right.

We got a bunch people like you know uh Richard branson and and people like that buying and in courting all of the the bitcoin people um and you know then IT was whether IT be you again through the oh we've got all these companies like telegram that are going to be a raising finance through ics and that's gonna this way back into bit coin and then IT was, oh, we've got H I was something makes IT little a tender. We've got micro strategy. Um oh we got black rock.

So it's always the same thing. Essentially, IT is a much higher market cap with more and more people, institutions, county sovereigns, al banks figure in out the uh, they need to get some bitcoin and and so is IT. IT never is different.

It's always the same thing. It's just because we're now at a significantly higher market cap and significantly higher liquidity. H, we just have been bigger and bigger people that would be attracted to acid classes that have that market cap and have that liquidity. So to me, nothing has changed this same story and that we've seen all along that.

that makes you feel silly for having news conversations every single day when the going just so exactly what supposed to do the four years cycle, right? We we heard march. Dave, you would I talk about all the time saying, hey, looks like we're going to be top.

It's going to be a boring summer. This is the having take six, eight months after the having and will break out. And here are so even another conversation and need if you guys look, I actually just what we were talking, just you can see IT visually, I tweeted the bitcoin dominant chart and showed the top in two thousand and sixty and two thousand and twenty spoiler.

IT was in december of both of those years, that bitcoin dominance kind of reached a peak. I put a vertical line, sort of just arbitrarily in december twenty twenty four. If IT follows the same for your cycle, then you can expect that think all coins to to move once again to win. When you're listening to all of this uh, obviously or more of mro five guy, I do you sound like a bunch of one talking about four years cycles and in to how do you frame all of this what you're looking at .

the clipton market?

Good morning. Well, i'm IT is interested in like well, the climate so far are interesting because IT IT, IT does often work out like this where you're looking at charge or you're looking at some sort of in baLance and markets, whether that supply and demand or there is an underlying value. Come to pro theses, see that happening, you know, with big coin in real time. I think as before, people are in the outside looking in, so to speak, is the political side of IT where we're getting we're getting whispers of of a big queen zar. We're getting, you know, definitely the implementation and the i'm welcoming of bit point to to an administration on the higher you know on the top levels here.

You know, when you have an environment here where we have geopolitical tensions, whether you can you know you have this downs and struggle in china with the expectation of more stimulus and i'm thinking at least another two lion dollars a to make to get china moving here ah you know when you have an incoming administration and well you with either side here, you know you're looking at upwards to say seven trillion um you know spending here, you know we try like a tack and know that revenue might make me get replace. So if you look at these things, I guess from its that if you could almost look at IT like it's a latter. In this case you're on a latter and you know a thousand feeds up and air hair with big coin.

So say one of those tail wins gets taken away. One of the runs gets taken away. You can still move up the latter. You might pause because of, you know the height that you've reached here, the momentum you know you can still growth here in the upward to jacory moving. So I think especially, uh, with the new administration and some of the uh, macro effects in the things are happening on the world, even if there is A A, A pause, I think we're going to see further progress from here.

That's fair to say that maybe we're still earlier. I mean, panos, how are you doing all this?

Um yeah.

I think I think we still .

pretty early in this run. I do see a going on for probably another year or so um as as long as there's no back one event that happened. Um and as far as like the the the dominance, I think now that we are approaching a hundred k because that such a psychological number of people, I think a lot of traders are looking at that.

I'm thinking right now. Now is time to flip some of this bitcoin into a serum as the ratio, as you mentioned, is so low the F B, T, C ratio. And that's what we saw this morning as as B, T, C approached ninety eight k dominance dropped off really sharply and a theory really sight to move.

And I think that's probably going to continue for a bit. I do think big one is gonna a push up, but I think it's time for a theory to play catch shop. It's been lagging this whole cycle.

And I think a big part of the reason that a theory was lagging was A B tc. And everything has been going on with bitcoin etf politically. And then b salona has been taken a lot of the market share because of main coins and pumped up fun die trading. So I think it's time for reference to catch up. And I think this is probably the start of IT.

Absolutely agree, their friend uh in your very legal opinion as a lawyer, uh what you think .

a clipped up Prices, I think that uh, this time is different, but in substantially the same way. So we always have the four years cycles the channel believer in, but you never quite know what the narrative of the trigger points going to be that drives the cycle. And I think here um in my and I know you brought this up on your morning show today.

I just think it's ungenial that is the legal push to make this a global asset. And that begins you whether you like IT or not in the us. And so we've just seen explosively positive news coming from the transition administration that no IT is not only going to be a crypto to friendly, but you know crypto is going to be a policy and a policy at the upper of what's going to be in the minds of the people in the administration. And just says an example of of why that's so huge. And you know when dave talks about, you don't even understand if if it's Priced in, if there's a bit coin's for tegor c reserve, is that a there's a documentary that is coming out just today from fruition.

Films is called rig from the start and it's a great film not just because i'm in IT but um you know john deepens in IT as well and IT shows that back in the you know runup to the twenty twenty run, the people in the authorities said, you know, whether you agree with IT or not, they started going as hard as they could to get know the regulatory clarity for their asset and you know, F, T X did at the same right. He just ended up blowing up the system when when samba crew got caught. But you kind of wonder why nobody else encysted Alland decided to legally buy whatever, you know, politicians they could. But the point being is that when you were know everybody was trying to do these side deals and IT IT just kind of was, you know, hit miss. And now if that's happening for everybody and everybody's going to get to come up on that up swing, you're just going to see some insane explosion of growth and I think is going to be way bigger than we've seen in any of the last four.

Recycles a ten degree.

Simon and good. Yeah only a serious side. I think we're gonna see um a real big know whatever the correction looks like, shorter the ones piton you know really breaks out above one hundred k and a syria continues to lag.

I think you gotta hit that peak capitulation events. So you've had all these people that over the last year have been thinking, our god, I should have a help. Big coin. I should have held big coin, I should have converted IT.

And I think you just going to see a mask peculation of people say, right, I got to swap my a theory for bitcoin and at that stage um then I think you're gonna start to see you know whatever that capitulation level is at that stage you're going to see a wave of announcements into the trump administration where people realize, alright, blackrock gonna be able to stake and the all the E T S. Are gonna able to steak and all right, the building their coconut ed exchange on top of the syrian um and we're getting all of this coconuts ed treasuries and we're getting all of this clarity around defy. We gonna get clarity around stable coins.

Um and I don't think anyone at the institutional level is going to be building this next way of financial products will be building the one top of anything other than a thereon or it's gonna at the which I didn't think we are ready for yet where bitcoins actually ready, uh, for these types of products. So I think we're gna have A A big wave and that will drive the outperformance of bitcoin with the theory and then all of the institution s will be looking okay. How do I put some of the um and then you get this education towards the theory and these two um asic courses is what would I be predicting?

Yeah that that makes sense. Dave, were your thoughts on a thereon at the moment?

Weirdly, I actually almost completely agree with Simon has been my dis fall along. Uh, what I don't know is if other plans, whether IT be no sona or new, like constitute lation or things like Cosmos s for various reasons, are going to eat into that institutional adoption wave. But that's really the question.

I think that that's not that's not a pithy answer. IT requires a deep dive and and knowledge going on. But the general ocean that there will be layer one demand um for state coins that are gonna used by the institutions as they move into toga ization in a serious way uh I think is exactly the same thesis that i've had along and and will continue to have so when .

he can talk about obviously we ve had this explosion of bitcoin layer two then building on bitcoin.

A lot of that was enabled obviously by to the fact that sort of behind but do you think that, that catch up and gain enough market share that they could actually have, you know meaningful impact on all these other layers, uh, layer ones and layer tools? Were there the building because of this lags and take some time those things to become popular? Bitcoin could catch up and building .

on bitcoin yeah um I think so. But i've also said the same ever since we started talking about coloured coins and twenty twelve era and we still not there. Um there is you know there's a bunch of venture capital investment that have been going into people building these sites of stuff.

I do think um you know a syrian proved the market that there is massive demand. And I do think the supremacy of bitcoin as an asset class and immutability relative to other things is is going to drive um a demand. But you know i'm kind of scored from just um having thought that all of this would happen on bitcoin um and twenty twenty four and we're still waiting and lightning network really hasn't got the level of adoption that we would have like to have seen at this stage. But I I remain optimistic about IT and I do think that a lot of IT ends up in bitcoin eventually. Um i'm just kinds scored around thinking how long IT might actually taken and whether we get there pretty soon because it's pretty hard to build this stuff and IT does take time.

We've never actually spoken to know what to you, you dad with her. What do you thought of this? You want to make me like really bad, but still not speaking to me to whatever I married and know exactly how this feels.

Not gna get me but uh wait. Uh you would. I've been talking about this year from for a long time but um I mean gonna happen, right you know you've .

got the same thing I have, which is I honestly, to be quite honest, I expected IT to take off earlier. H IT has not. In fact, we pulled the chart real quick.

Uh, yeah, it's it's just kind of been a dead horse now and it's it's very interesting. I here on the chat and we've heard of the ycl about a lot of food footing in theory. You know I think I think I mean, I I don't want to say anything, but let's see here looks like we're almost at a stage to break out.

Literally the level around thirty to fifty is where you want to break that that resistance and it's just not being able to close above there. Um so so yes, god guess is as good as mine but is not woken up and we're getting further and further into the cycle. Uh, I think that if we don't see anything waking up by by january, especially by mid december, um I think a lot of people just going to start giving up and rotating. So I think IT gets weaker if you don't see a push by the end of this year.

Unfortunate that, that makes sense. Uh, well, a couple of piece of news of you I saw but speak so on a bit wise, filed first along at etf. So they are obviously not the first but increasing confidence for etf h issues to apply for all coin etf, which I think many believe we will see.

I think maybe the big is biggest peace news. And I discuss this. Atch son SHE got to brought IT more to my attention this morning on youtube. According to bloomberg, present elections ald trumps team is discussing the creation of a dedicated White house position focused on crypt or currency policy.

The role would aes a ordinate policies among federal agencies and engage with industry stakeholder to address issues in the cypher of currency space remains unclear whether this would be a senior White house position or what its specific rows might that we had. Obviously, even ash total trump allude to a crypto currency council of some sort by basically making a clear that he would listen to the industry and appoint people, or listen as advisers who understood the industry and could sort of drive the direction of regulation and policy. But this is even a step above that.

I mean, we've seen obviously that he's appointing pro big coin and pro cyp to people to effectively every agency had a elan, I say a dodge 啊， but not make commerce and R, F, K and health and human services. So almost everyone in the point has been pricing. But I think there's been a concern that whoever gets S, T, C, and whoever gets S, C, F, T, C, there could still be some in fighting or lack of communication among different federal agencies, because we know that the government is widely inefficient.

But if we have a single person who is a White house, who whose in the White house and their job is something like crypt OS are, to me, this is absolutely massive, huge news. I am once again throw john dee's name in the hat for that job, just putting that out there. But uh, somebody who actually a coordinates and make sure make sure that these agencies are working together and speaking to one another for code policy. How big is this guys? I mean, that you are giving me the heart I know you agree with, but to me this is absolutely would be massive .

yeah I mean one hundred percent. And I know i've been hearing rumors that john is being considered and and full disclosure. Those things that i'm hearing are being talking aloud to myself when I walking around, but that's how these things get started.

So if everybody can just get we'll get that room or train gone and will be in good hands. Now this is huge because these stars, I mean, you know if it's a bad guy that's in his our position, it's you know really, really bad. But if it's a good guy is great because these roles don't have really defined terms or powers. Or now remember who the borders are was you know for a little bit. So the thing is, is that is .

under fima a baris?

Yeah and so you you know what IT is, is if you're disher, you've got the president's year and you're in the room with you know not just the president and all of his staff, but cabinet members and you can kind of you extra territory float through all these places and say, I mean, i'm not be in literal, but you know let me see your books here and treasury, let me see your books there. What do you guys do and what the meeting I want to see the agenda and so to somebody in that, uh, over arching role, if they're good at IT and serious at IT is just I mean, again, it's just one more level that the markets not expected in, in, in and is just if IT goes well, it's going to be explosive.

I don't have a that for you think this will be .

um I guess let let's try and using analogy is kind of like one sales salvor decided IT was going to be a big in country. IT immediately set up the bitcoin office uh and the bitcoin office then had a dedicated team and a dedicated budget to 说 that IT was pursuing all opportunities。 And and we know that once you get a bitcoin country or even some of the cyp day stuff um if there is a dedicated a great team, there are so many different applications that can be um that can be utilized within a government agency um and so yeah I think this is the only way to do IT。

If you don't have a dedicated team that is making sure and advocating and pushing for this and making IT happen, then I could you can just fade uh so I think is an essential part of IT. Um and I think any country that does this, uh, because there is just such a significant time to get these three bureaucracy through compliance, through vested interest, through banking lobes, through the federal reserve, through the regulators. You have to already start early and the ones that do start early, there's rever you know a Young nib start up country like a savor or if you're a superpower or the largest superpower, uh, then start early.

And now is the time to do that with the you know never been a greater or ability to a line and trying to get through some of this bureaucracy. So um let's hope we start with this. And I think that would be instrumental in the success of amErica becoming the the leader in this industry .

as a superpower. Dave.

yeah I think that the I don't like the words like necessary because I think things are going to continue to evolve and we're moving in the right direction. But if you take a look at the U. S.

Regulatory structure right now and i'll come back to something that elon, sixteen, posted about four hundred federal agencies, and there's probably more than that, that we that have been born that we don't know that they're running out of three letter recon ms for the us. Is the only country, the world with an S C, C and a cftc splitting oversight of financial markets. And that doesn't even talk about the oversight of the banks, which are in bread in in basically because of the the collapse of glass eagle are also in the broker industry.

So if you have the O C C and the F I C in the fed in addition to, uh, the S C C in the cftc, and that doesn't account state regulator, so the point of having a single dedicated office that can help co ordination across these agencies matters. And I think IT IT could be a very good thing. The real question is, is, is going to be focused on incremental change and navigating law, which case you want a lawyer LED office? Or is this really a question of understanding how Marks should be structured to set out the blueprint for?

Then the agency is to have their lawyers tried to work on IT and and I know that sounds like a nuance, but IT isn't. Uh, i've said in an almost every industry committee in in the equity markets for you two decades, and I can tell you that generally, most policy initiatives start with a concept that gets baked with the industry to in in their concept lease or round tables or whatever that industry LED and then the lawyers get involved. My fear is if you staff this this this spot by an attorney as what you pretty much always do, that you're going to get bog down a muncie before you get started.

Whether if you put a market structure person who understands how the equity and bond markets work, understand how the U. S. Futures markets work verses also understanding how crypto o. Markets work, go see five and d five and derivatives and spot, and understanding how to bridge all those together, you can make enormous progress.

And Frankly, that this person and after work, handed glove with a vaccine because a lot of a lot of the job is going to be reconciling among these among these agencies that they're looking to get make more efficient. So to me, it's an incredibly exciting opportunity, uh, for somebody or a team of somebodies to do this and could be amazing. But IT really the devil will be .

in the details.

Yes.

yes. So a quick question for David assignments. Oh, with the way that, well, we all know you know them arrest that politics can create here. So you know within the next four years, if we don't see a significant infrastructure, at least of the governmental side, that being a azar for big coin or you know some of the concerns around the financial markets and institutional investors being addressed correctly, you think there's a chance for this momentum overall, uh, you know, to stall. And then what are the prospects of that?

Because, you know, we've seen over the years that saying, you know, you want to make changes and health care, you want to make changes in different sectors, and then there was changes just on common despite the best efforts. So what would you say, I guess, on the opposite side of the country, exide, what would occur? And if you don't really see that kind of progress that people are anticipating.

I am go yeah because I got .

to jump in in my three minutes. So so so let me just go for my short answer is IT matters much more to all coins than bitcoin. I think that bitcoin is reach escape velocity city.

I think that the um the likelihood of a safe harbor, you know that such as was in fit twenty one. We can talk with the downside side of for twenty when the defile day long. But IT does have the safe harbor idea.

That's almost a certainty to get put in, and that will allow a lot of innovation. The real question is will in turbo charge the adoption of cypher style technologies and blockchain technology throughout other markets, which is something that is not remotely Priced in? I think i've said in many times, the equity markets in the bond markets should be utilizing many of what's gone on in the cypher world.

And that thought that scare people. But if that is gonna accelerated the cycle, we haven't remotely Priced any of the assets that might be underlying that. And I think that is a long shot still for all the reasons that you mentioned win. But I do think that, that changes definitely the offing. And anything that we're talking about here .

is gravy yeah I say is the important .

of the industry and the lobbies um making sure that happens really we got to take possibility we can sit back and wait for a government to do IT and so and competition. And the reason reason I know this is going to happen is because you ever do that now, will you do IT later? If you do IT later, than another country gets competitive advantage.

So already we had you know the we're getting all the whispers from china right now where we had a judge ruling um the bitcoin is completely legal. Now that's not Green ground breaking. That hasn't changed.

Um where do you can Operate an exchange or you can mind bitcoin within china, but we still know the twenty percent of hash power is still being hashed in china um and so um we had an announcement from russia that they've made be quite mining legal um and we know that um a lot of the innovation on the brick side is using distributed measures and crypto currencies and all of these different types of things. And so um then you've got the internal competition at the state level. So is incredibly important.

They were getting this wave of uh you know pennsylvania through to the other states and saying they gonna bitcoin strategic reserves. They're to be protecting people's ability to self custody bitcoin. Uh, they are going to be introducing tax bills that would allow you know transactions below a certain value to be used as currency. Um the the momentum can come from the industry and fortunately, we have some incredibly wealthy, well funded um companies um you know that are willing to engage at the industry level and support those lobby efforts. Um is a little bit of competition between the whole sector and industry trying to push everything over to there, particular blockchain and all that type of stuff.

H but also um less not forget the blackrock has strategically aligned itself for this industry in the fact that is pushing a narrative the bitcoin is a uh risk off in a hedge asset uh means the black cock is predicting something, black rock is positioning itsel for that um and black rock when he wants to use this lobby power um and its power in order to make something happen, um IT happened. So let's know, you know, basically a cool for everyone to now is the time and this is the time when it's gonna en and if your country doesn't do IT and your patriotic, they know that another country will be doing IT. And I think that will drive the change that we need to see.

Didn't remove on to buzz in a couple minutes less. Anybody has some fight or thought here. The reason being once again, you may notice that um where our numbers are just a standing today must be the world market that we have forty six thousand, excuse me, fifty two thousand, four hundred twenty two people here now we we have like forty seven thousand bots attacking the faces once again um I would love to think that we had fifty thousand people listening to us life but we obviously don't what .

in what is the motivation?

What what are they doing? I think to crash IT often crashes the spaces.

And he wants to do that. He's incentivise to do that. That mean there's someone trying to send to the message like I can't imagine what's the game.

I I don't think it's a matter send sending the message. There was a time when we would get bought, attacked IT, we would get bot attacked. And then there was like these widespread for japan's that we were buying just something.

I just if we uh won't be totally obvious when h forty five thousand extra people show up to the shoe. Uh, but that was you know at the beginning years ago, so I don't really know what the motivation is now. I mean, weren't eighty four thousand, two hundred and forty eight amazing, true, legitimate human beings right now?

Uh, eighty nine thousand. So yeah, I know that buz h had a sponsor to chat to. And I want to do that before, uh, our gets crushed.

So take you guys up to let us take over here. thanks. But yeah.

no problem. I mean, I think these bought attacks are also due to uh, kind of these bought farms trying to like warm up their accounts. There's something like that and try to make them seem more realistic .

with if they're pushing a or whatever women here to show that they have activity.

basically. I think I mean that that's probably one other motivations among amongst many. I can't uh can imagine what uh what their true motivation is there, but it's probably .

quite well to the bots. Please, all eighty thousand. If you follow our amazing guest on stage, they can be the biggest accounts on x moving.

Thank you very much.

I like, I like that sentiment. We ve got to use them to our advance. Angelica own many robots, but, uh, we have a, we have dream channel A I up here today.

Uh, i've talked with you guys before. I love for you guys to just dive into a maybe a brief elevator pitch just because there's probably some less. Have never uh heard your previous a ms and just give us an elevator pitch and what you guys are doing .

yeah thanks so much. And that I look at feels like i'm to change into A A bitcoin topic here and i'm going to try make a relevant for that, making bitcoin lots of fun. Dream channel I is a is a metaverse engine that allows you to generate um an A I alter ego character that basically trolls the universe looking for action right and um what you do is you you stand your face with your phone, you generate this avatar that kind looks a bit like you.

You give you a personality using an I R personality matrix is a bit like you. Then the idea is then you send IT out and IT goes and explores the universe kind of when you not there. And and initially, what IT does, IT looks for coins, looks to fight other avatars for tokens. So I can fight people for bitcoin. IT can fight people for a theoria I can fight people for any any token whatsoever initially that's the study point um you train IT, you give IT moves, fighting moves uh which also he costs a small man in native token um so you know kari mi whatever.

And then and IT basically yeah looks for other other people who are part of the network and initiate kes them on uh and and know and kind of makes which I na make cook do fun right of course right and make big coin fun and and give IT like you can, another kind of fun thing that can be happening at night while you sleep. Now, what IT does the next morning, you wake up and sends your highlights video, what is done so you don't have to be there. You don't have to be there going live right hook or kind of stuff IT actually just does IT on its own and learn right because it's learning to be a good father.

That's the starting point. Um but then what happens is then there are there are twenty six channels inside this initial dream channel metaverse war, which are crafted around a dating uh fighting uh and and actually just socializing right so the channel so what IT does IT also IT goes on dates. Um so you'd actually like you can actually earn bitcoin for the matter of time. Your avatar he is is is, is attracting attention.

People can visit IT, you can go on one hundred dates at once, and you can look at replace of what the date, how the date went, and you can choose to follow up with those connections, this kind of this real fun kind of A I space which basically um is your all to rego out is out the generating ah you know I played a own type game but it's IT doesn't not just restricted to to dream channel you can the extension is going to any any other world or the avatar or essentialize that can travel to anywhere. IT has an embedded payment system in IT, uh, which is basically based around attention. We call that all gays and the I gys payment system.

All else are two kind of generate attention wherever IT goes. That that payment system in itself is actually a solution for monetizing uh, the mid averse in general. The universe doesn't mean they are metaverse means the web three new generation of the way which is CPO powered and monitor as my attention that the that's the general gist of of what we're doing. Um so I did so I just come in here to this bitcoin you know conversation and kind of through something like this that you bit, they just gave me the spot to come and chat. So yeah, that's going to the other peaching.

Hey, well, what we've been talking about on on this space has has really been, hey, when is a going going to top out and float at all? And and if people are kind of studying narratives here, especially from last cycle, if you were to overlay narratives on onto the chart, I mean, people are looking for the next narrative words. That money from bit going going into flow into so so no conversations are kind of unwelcome.

I think it's A A good transition, but I did have the opportunity to to chat with you before about this. And why I was really interesting to me is I I remember that the metaverse meta from the the last cycle and um I don't know if anybody here is actually or you have uh went to a metaphor cycle, but you'd go into this a bit and there there's nothing going on. There was a lot of hype about purchasing land and the potential to build things.

They had the same problem with a lot of social media startups where in order to make IT fun, in order to make IT the dream becoming a reality, that advertisers can go there, they can put up signs that can monitor their land and things like that. You need users and things for them to do IT. And why I found this interesting in our last discussion is that it's sort of like you've created this autonomists way to create entertainment value.

Within the metaverse, where you can have users, but the users don't have to be ond there all day, they can they can basically give their character prompts to get them going out and doing things and can create this entertainment value. And I thought that a very interesting way to actually scale metaverse activity and start to get early users. But what i'd love to free to dive into is kind of like what you think that the future of the metaverse is kind of acknowledging that couple years ago when that was the the meta and the trend there, there was sort of this this law and people actually using IT, mostly speculating. Do you think it's .

likely to go here, especially ycl, for the next, next real fires? Up to now, it's really just been an experiment, virtual landless come of things. I think IT, we've been waiting for the meter service is been waiting for for now is to become not just about going to V, R or whatever else.

The metaverse is now the real world and the the and the virtual world combining, right? It's actually the internet web 3， the new immersive internet, possibly wab three, that that is that is the mid of us. Now how that works and you going to think about that's a good idea, but how does that actually work?

The key to this whole thing that everybody has a phone, right? If one has a phone, if one a smart phone in most people and and that is your that your window to the metaverse, right? So if you want people to engage with this new, you know, immersive a economy, you know, i'm immersive if i've got my phone on and if I turn my phone on, I had access to A R.

And the A R, 对， that that give you access to to all these different kind of channels inside that this metaverse equation, they all come from your funds. So that s that's how we're starting of the alcoa journey that you actually generate this available out using your phone, in your scan, your face, you create this character, you give you a personality or from your phone. And the next thing that does is that actually heads out to locations in the real world and the drops tokens in the real world to wherever you go.

If I go clubin IT drops token s there. If I go to some rocky e IT drops tokens there, right? And all these tokens, I I like a massive treasure hamp done on right, which basically create avenues to my media of space, which is where my vacua lives, right? That in the virtual world, right? But it's accessible, viral, I R door way treated, by the token.

Okay, so this is how we kind of south first run, integrating the real world with with the virtual world and making IT all kind of thing with. And then the idea that is, this is a good idea, but without paints, IT doesn't doesn't work. So the idea is that you find my token, you then next thing you know, you going up into my space, you, you meet my avatar.

Now this is all tracked by by this eye gaze payment system, which basically sends tokens to others, generate, generating the attention. This allows everybody to get in on the guy on the payment. So I, meaning that so DJ plays at a geegee in the real world, drops tokens there.

I I gather those tokens, meet meeting avatar I going to listen to, he said, again, he's learning for this engagement, right? Sponsor, wax a logger on him or behind him, whatever. okay.

And that only pays for the attention that that is generated from the users coming in who all get a clip, right? This is the equation for the metaverse. Now that i'm seeing is now there is now possible and that's how we're drive these things.

So so that's that's all the model that what I I this is not just again, getting back to what the future the metaverse is. I I allows these thing to be persistent. Other words, a persistent metaverse always there concious only be there when on there is going to be happening all the time.

So so the idea with the a ipad is that my advertise has a personality, is going to doing things all the time. It's so now my profile in this new the mid of verse profile you have is no longer of facebook. Facebook was your kind of there.

And you know what messes up there. People can reply on a month day, but I was not really doing anything, right. Where is the media?

Your profile in the metaverse is this character is running around doing things all the time, generating content over time and creating these other, other entertainment paradise for you, right? So it's earning and it's in a meeting people and it's doing stuff. It's making its intriguing.

So it's extending the metaverse. This new wave of the metaverse is is an extension of your personality into this allow realm where is actually happening. It's intriguing, all those things that kind of made us intrigue with the mid of this, but you can only do with you with there and now happening over time, and you can choose to engage whenever how you want.

That's how I see this next wave of the matter is happening. And it's only possible because of two things, blockchain, the whole centralized nature of IT, which allows the sea of integration with all these different channel coming together um and it's also possible because A R I which allows IT to expand infinitely and create on the fly without you being there. So that's that's how I see.

So what i'm trying to learn about new technologies and new projects, like what one thing I try to do is try to make like kind of similarities like a would you would you be a couple the idea that this is kind of like poke mango, meet an autonomous U T.

A and the matter yeah I think you right I think I think pokemon goes a great. I he's that not quite often just to explain to people, I say it's poke on ghost yle and go out to go yeah right I know you right. But the other thing, I think the integration would poke on go and second life is probably the real kind of integration, a second life.

So we're not doing things. The matter is, is, is not really doing anything new. It's just putting things together that already worked before, right? So pog mongo IT worked.

People understood the idea of collecting things in places and going on treasures that proved that IT worked. Humans going to go and do IT right? Second life worked.

People, people win on these crazy adventures. Like, you know, you could become a vampire, fly around on halloween, and you, you make you, you could do anything. You could create ireland, that was a big disco tech for any kind of fantasy or innovation or or crazy events you wanted to do.

You could go do IT in second life. And everybody did IT, and IT was for everybody wasn't just for a kind of radical, you know, widows or gamers or whatever, was anyone did IT right? Which made IT a very interesting kind of proposition.

So seeing the integration of those two things, and they said, is just things that work before are coming together and and and it's an IT can be bigger because you look at what second life had with the lindon dollars in that secret echo. But I was just one channel, right? They couldn't really expect out to have your other people, you know, in a great dare idea of A A second life.

I mean, you had to build in second life. So made of this new new equation is much bigger. So yeah, I think what you said is a great way of explaining IT.

And I think that's probably what needs to happen with when people explain the verse, going to explain that in a way that people understand, poke or go make second life. But you know, that's another thing. So people go, oh, OK, I get IT right? That's been the problem with me of us.

It's too kind of like in a knee bar that now saying that will done IT, right? And then when I have done IT, it's been underinsured ing. So then that I want to go back. So I think this new equation is is honest and and the bitcoin wife is the pushing this forward, which is then pushing things into outcoached gna create the interest and and the financing for for these other, you know, other areas. And I think that that is going, you know, you wait to see what bitcoins gonna w with that will swallow back on the native game that tell, I say, working.

So so I just did a search just on like user a sort active users on second life. And i'm saying like they almost have sixty five million users. So like if you're combining poke, mango and second life like the amt, the market size here, what that tells me is, is pretty huge for people who are using applications like that. So tell me a little bit about how someone on boards to start playing and and how many people are yeah so right .

now we are we releasing uh the the APP, which is put the mobile APP and that is IT isn't it's only stages. Um we actually built out the payment ta system um over the last two years and that's that's in place as a pated system. Not much of that makes me a difference, but it's got A U S.

Paint for for how that that monitise. So we got all the elements for how this is gonna, but we haven't really been out fully push the go button yet. We're just trying to get a ground swell under IT.

So we're testing a lot of things in terms of how the ARM, the I augert of stuff is working that still IT. Look, I eyes there, but it's not fully there to where we ve got a vision for where how it's going to work. But right now, the AI is limited to to really training your vital how to fight, which is we were at right that's working. And where basic people fight each other using, you know, this is kind of moves liverage IT to basically train their avatar and had had a flight.

But the next bit where IT gets into like avaaz going into like a knock club and interacting based on you, my avatar as you outgoing in the girl in the corner, she's kind of like know a little more kind of you team IT and how they get to interact, right? That that formula we are playing out around we brought now, and that was that's going to be the next scene really going to drive this fighting. And he gets you so far right? Everyone can fly at and that fly, you understand a flight OK.

I won the flight. I want some coins. But how avaaz engage in an environment where no one knows what the outcomes going to be, not even me, not even the girl meeting because it's all based on a personality matrix and how they are gonna combine and watching that, that can be the intriguing next day.

So that's the bit that we've kind of working on to get right before we fully, fully release IT because I think that's going to the real kind of mark can change are and a really interesting bit that everyone's gonna to have a look at. So yeah, that's gonna at. We're rolling out the funny part now, but I I think that's going to be the real game changer. The can change is going to be this this interaction between your characters based on yourself that you can experiment and change and that that's gonna this .

anything how long? How long do you expect that that road map to be like like one, could users expect things .

like that before we but the fight happen now that's a way um you can deal the architect on on the APP store at the moment. You can download a great nava ua getting a fight and that's that really started. So that's begun.

But but the the the personality magic driven side of things, we've got that up and running, but it's generating a tick story right now rather than an actual video story. The video stories will start rolling out probably in about q one next year. Yeah that's when that's going to role so yes and not far off um that you know the decades are planted in the world that the world takes placing is already up and running so yes, awesome.

And and as as we wrap up peer there there are any called actions that you want to put to the audience said and like where can they sign up? Um maybe maybe I can look for a to put up in the next year. Well, if there's a called action here, but tell tell the users like how they can sign up, how they can get involved.

Sure we have have a Better royal, which is which is launching whole thing, which is basically the top ranks. We have core the fighting IT out um for a prize right enterprise is this is is this loses dreaming, alex? So which I need to survive, which is called, which is called A I dreams so so the study points to get involved with that.

Uh and if you got a dream channel, don't live to go there. You can see what that's all about and join IT. And there's also a token, the token the advertise of fighting for called A I dreams that's on fuels founded right now. You can you can buy if you want or you can just try win IT.

Um but that's the study work because the currency of the the world, the official currencies called A I dreams that the dad is actually not real currency is actually an alex a that the avatars need to drink to stay a lot like an energy drink, right? So that's what they need, that other tokens are also useful. But that's that's the kind of real of the world, so that's what they fight for when they come together to this, which is kind of interesting.

Just one last point. Ii, you can need something essential thing for the IOS to kind of form around, which gives them context of what they're doing, what they doing IT and fighting for a thing they need to live. And going on a days to earn a thing they need to live is IT gives them context and allows the scene to generate around a particular narrow.

So that's the whole point of having, are you are dreams? Do you go? So yeah, engage, they are dreams. Is that the lix sa that you are always going to need drink to stay alive and going fight, date mate and procreate, go.

I love that tag line. Thanks for thanks for joining us today and and thanks to the listeners for coming make sure that you follow a dream dream channel A I follow all the speakers and and thanks to Scott as well for putting on yet another great show. Uh, we will be back tomorrow. I believe that starts at ten fifteen A M eastern time. So so these carbon tanha or every weekday ten fifteen A M eastern time and will be back tomorrow.

okay.