Oh, what is up that was an obnoxious way to start yo. What is going on you guys welcome back to another video hope you guys have been doing well today is monday. Hope you guys survived this past weekend. Welcome back to another video welcome back to another! Live stream, if you're watching this now in real time or if you're, watching the replay, what's up how's it going so guys.

A lot of interesting stuff has been happening today, just on monday we're seeing a really good green day for a lot of the prices, especially with man. A lot of the negativity that we saw on sunday in this live stream. We're gon na be going over the crypto analytic prices, we're gon na be talking about the dead cat bounce. What that is why that could possibly be a scenario and why that is very bad news for any new investors like us and we're also gon na be going over some more elon, musk tweets and then some crypto news towards the end of the video.

If you guys are watching this welcome, so i actually went ahead and turned on members only mode. I wanted to see how this works, because i know that we get a lot of spam in the youtube comments. Man, like it's crazy they'd, be saying. Save me banff, like all these things, so we're gon na see if the um members only mode is worth it.

I also don't like not being able to see people chat. You know. I don't like that. It's locked, i'm gon na see how it is for this type of live if it seems to work well and people are more engaged and we got like some of the best people in the members only uh mode, i'm gon na continue doing that.

But as of now we'll see how today goes it's not a guarantee that i'm gon na keep this forever, but we'll see how it goes anyways. I hope you guys have been doing well over this past weekend. Let's go into the crypto market prices. Okay, that's not! It alrighty guys so so so so things are looking spicy today, things are looking a little spicy.

Let's open this up, let's get it in screen. How does it look? Can y'all read that yeah yeah yeah man so yesterday was nice. I actually took the day off, which was pretty good timing, because yesterday was one of the days where the market was going down for any of my followers or subscribers. If you guys don't know, i've been averaging into this dip, i've been buying the sale and the sale that keeps going on and on and on man.

Oh man, anyways yesterday, i did end up picking up some cryptocurrencies on a bit of a discount and today, a lot of those purchases that i made, especially with ethereum, which i bought yesterday at around nineteen hundred dollars, is up immediately so easy one day, flip still Just telling you guys it doesn't have to be a parabolic green market. In order for you to make money, there are a lot of ways for you to make money in cryptocurrency and we don't need it going up all the time. In order for you to do that, so bitcoin today is at 39, 000 crazy, we're approaching 40 000 again and just yesterday, bitcoin was down a significant amount. So if you guys have been paying attention to the price action, you'll know that yesterday was definitely a rough day for anyone invested into the market.

So here we go. This is off bitcoin, tether, us and binance. Let's not do the one day. Let's do let's do the one week, so a large red candle yesterday with the low going down all the way to 30 000.

We know that on other exchanges, it dipped down even more so even with today, going from 30 grand in less than 24 hours. All the way into 40 000 is a pretty good sign. What is the title of this live stream? I completely forgot start of crypto super cycle market recovery. So, let's answer that real quick, so you guys know the answer all right to begin guys, just because we're seeing signs of green today.

This doesn't necessarily mean that this is the start of the next super cycle and it's just going to be a shot to the moon. I'm going to say that right here, because there's there's still a lot of crypto youtube channels, saying that it is and they're gon na trick you guys into clicking on these videos right now, although we're seeing green, i wouldn't get too optimistic, although it's good to celebrate Those wins this could be possibly what we consider a dead cat bounce. If you don't know what that is here is the investopedia lesson for my subscribers. So dead cat bounce is a temporary short-lived recovery of asset prices from a prolonged decline or a bear market.

That is followed by the continuation of the downtrend so think about it, like this think of it think of a literally a dead cat that you drop. I don't know from like your apartment like i'm living, i don't got a cat, but you know i say i had a dead cat for whatever reason i drop it and it bounces anything that you throw on the ground. Even if it's dead oftentimes will have like a little. You know like the roblox on it'll bounce back up right.

It doesn't mean that it's alive, it doesn't mean that it's going to continue going up and it's very difficult to spot any of these dead cat bounces. In the beginning, so we actually have a video here by investopedia. I don't want to get copyright claimed. So let me turn down the audio.

A little youtube secret hack from my youtube friends turn off the audio, so we have a dead cat right here. It bounces goes down boom right here and that's what you could see in some of one of these graphs we're seeing a 20 increase today and although we've been going towards a downward trend, is this a dead cat bounce? Because if it is it's not good for any investors right now and here's what i've come to the conclusion after watching literally six plus hours of technical analysis, resources and all the minds across the interwebs, no one knows no one knows what they're talking about. Let me tell y'all if y'all are watching any type of other youtube stream or anyone who's doing heavy uh, crypto currency technical analysis. We're approaching some record high dips that we haven't seen before in the market, and this is not necessarily bad news just because we've had such record highs uh within this fast bull run.

You know it's a question that everyone's wondering and i think time is going to be the best answer for me. I know i'm wise enough not to tell you guys that this is going to be a full recovery to the market or if this is going to be a dead cat bounce and then this is going to continue entering that bare territory right now, i'm still very Optimistic, i personally believe that we're going to start trading sideways for the next few weeks. Still, i'm pushing my price target dates till the mid june or end of june, just because of all the consolidation that we're getting right now and i'm getting a lot of questions right now too, like brian, should we be buying into other all coins? Some of them are like 40 off should we buy today. Well, first of all, let's take a look at the uh fear index uh bitcoin bitcoin anyways.

How are you guys doing today? Y'All are at work. Bitcoin fear index great are y'all chilling today. Is it your day off in the maryland area we got some, we got some showers all day. That's why the lighting is a little darker than usual.

We got a lot of rain, uh, no sunlight today and man. The weather really affects my mood. So today i was like imma just go live i i don't feel like editing a video, i'm gon na go live, i'm gon na go, live last minute and see how this pans out all right, so crypto, fear and greed index we're still at a level uh Level 10, roger rogers, so we got the extreme fear that we've had yesterday, which is out of 14.. Today we're out of 10.

uh it it's pretty bad. I don't think we're on the worst of the fear and green index scale only just because we're seeing a little bit of green today with the overall crypto market and, as you guys know, when the sentiment is not good. That is oftentimes a good indicator to find cryptocurrencies on a sale. Like usual, i'm not a financial advisor.

This is just for entertainment purposes. Only do your trading at your own uh cost and do your own research as well, but for me, anytime, i see fear in the market like this and the overall sentiments still going sour, while fundamentally, nothing has changed. Instead, we've actually been seeing a lot of good news with some more project updates and seeing the amount of volume going into some of these cryptocurrencies. Just as an example, cardanomatic they've been doing really well, let me find one of those articles all right.

D5, so total crypto market cap gains 400 billion dollars, as d5 token leads to recovery 31 minutes ago. All coins and defy sprang back to life on may 24th. After a handful of decentralized finance, tokens saw their prices increased by more than 60 as bitcoin bulls pushed a bitcoin price to the 38 000 level. Some analysts are describing the move as a debt cat bounce debt, cat dead cat balance, but despite those concerns, the bounce in prices seen across the market is likely a welcome sight for cryptocurrency investors who experienced last week's historical capitulation event that saw nearly 1.3 trillion dollars.

In value pulled from the total cryptocurrency market cap, with the heat chart that you guys see anything green is oftentimes good news. Green is green, green is positive, green is nice. We have a little bit of red dye and let me zoom in just a little bit. What is that leo leo yeah, so a couple cryptocurrencies in the red and here's a lesson to be learned.

So is this a good time to be buying other altcoins? Well, here here's what i'll say right now: all the all coins are following the lead of bitcoin. So what this means is anytime we're seeing a shift in bitcoin we're gon na see all coins immediately fall arise just following whatever bitcoin's doing right now trailing right behind it. It is risky to be stacking all of your money and yellowing it into different altcoins when you're, not sure of what bitcoin is going to do so, i would say we're seeing a good sale, but i don't want my followers or my subscribers to continue using up All of their ammunition for these sales that you think is going to be the bottom of the sale when the sale can keep going down even more and more right. So what i'm doing right now is just averaging in that's what i've been continuing to do.

I could have dropped what like 150 grand like on one of these days and immediately just kept losing my investment. That's why it's so smart to dollar cost average. It's just good to spread out divide how much money you have and then start putting it into these different cryptocurrencies so that you don't get stuck holding the bag up here. While the market continues to do its thing now, you know we do got to celebrate our wins.

So let me oh, we got to celebrate it because there is some green today right. That's really good news! Uh we're seeing ethereum at twenty six hundred dollars today. Coming from nineteen hundred dollars and even less ethereum went even lower than that yesterday, which was really tough to watch binance coin: oh back to 341 dollars a uh increase of 37. Let's go to the 24 increase matic back at it again.

Dude matic is absolutely killing. It oh my gosh for any of my subscribers who have been holding this still keep in mind. It's always okay to shave down those profits, but matic has been a clear winner in the past few weeks, regardless of the market fluctuations uh, there is some news coming out with a protocol that does compete against matic within the next few weeks, so i would consider Being on the lookout for that, i will post in my inner circle when a time for that comes up just so, you guys aren't left holding the bag in case there is a little bit of a price dip, but uh. If you have been holding other crypto positions, just keep in mind, it is always okay to take out profits.

I think we got there's like a list of things. I got to say every single video one. Don't panic, sell two: it's okay to take out profits and three dollar cost average we're gon na ingrain that, in the back of your mind, so you're gon na have dreams about me. Saying this.

I wan na be in your subconscious we're about to be inception. Tier level dream within a dream within a dream, so you guys don't make any of these simple mistakes that will literally cost you thousands, if not millions, of potential dollars that you could be making in the crypto market. So we got the omg network of 63 tara, luna up 58 urine finance up 57.63 bakery harmony, one! Let's go! Let's go harmony! What okay makers up 49 we're just seeing a lot of green in the market, but if we do look at the seven day trend all right guys, we are still down for most cryptocurrencies. We are still nowhere near at the all-time high that we were at.

But this is good news. This is start of a recovery and if you guys are liking what you're seeing go ahead and destroy that like button down below just absolutely just right. Okay, so let's see it, let's see, what's up my people, what's going on all right, i got some people with the rocket ship, emojis tina dub says i got surf shark this weekend, i, like it ooh congrats on picking up surf shark. They actually emailed me.

Let me find this email, they actually like us, so much that they're gon na be giving away some surf shark memberships for free. So let me let me pull it up. Let me pull it up. Okay and let me how do i like not show this guy's name? Okay, all right will i be breaking laws.

If i show my email with surf shark, i don't know - and i don't care - okay, that's great we're thinking about five or ten subscriptions for six months. So they're trying to do a giveaway with people on this channel they're trying to give away five to ten subscriptions for six months completely for free uh. They haven't done this before so they're asking me what the best way to do this and if there's any tips and boosting performance for them, so i'm going to be working on them, i'm going to try to get them to do 12 months. For you guys, i'm going to try to get a full year's membership for my subscribers.

So if you guys are watching these videos - and you guys had not signed up for surf shark yet i will try to hook you guys up, so you can stay tuned for that. But if you don't care about spending like 15 bucks or whatever it is check. The link out down below 83 off three months free now going back into the cryptocurrency, because that's what you guys are here for, even though we're seeing a good increase and polygon is doing amazing. Look i i got to say this.

We've had similar instances within this. I would say this little bear run that we're having down right now, where slowly the next day, we see a complete twist back into the red. So is this a positive sign? Why is it going up? So let me first answer that this is positive sign for the market. It doesn't necessarily mean that this is going to be permanent.

This could be a false indication of what i mentioned earlier with the dead cat bounds, and it could be something that results backwards in a downward trend. It's very very difficult to spot a dead cat bound, so we'll go back into our investopedia uh and here's what they state. What does a dead cat bounce? Tell you okay and where's their graph. I know they got a graph, so here's the dead cat bounce we're going downwards.

This is what we're seeing exactly with bitcoin right now. We just haven't predicted that future price point imagine this is what bitcoin has been doing and today we're having a little bit of that 20 increase. It goes back up. People believe that it's the bottom and they want to start scooping it up.

Whales want to come in and then we maybe continue even downwards. So let's figure this out. First of all, what you have to know with a dead cat bounce, what does it tell us a dead cat bounce? This is just ta or technical analysis. It's considered a continuation pattern where, at first, the bounce may appear to be a reversal of the prevailing trend, but it is quickly followed by continuation of the downward price move.

It becomes a dead cat bounce and not a reversal which is actually what we're looking for. So we're trying to find a reversal on the market right now, just because, with the downward trend that we're seeing from just simple technical analysis, what we have to realize is in times like this. Let me move it over. Just like this, we're going to need a stronger support lines being created and that's why it's so difficult for a lot of tas to find what is going on in this market.

We've pushed some historic lows right now in terms of percentages of losing out money with bitcoin's dominance and also the overall price of that cryptocurrency with lower lows, as you can see, get out of my screen with lower lows and lower highs equals downtrend right now. I so it's not too concerning to me that we saw this huge dip yesterday on sunday only because in comparison to the relative price of the increase that we saw with the percentage gains with bitcoin and other altcoins, we've been moving so high up in the last One year, let's bring up bitcoin that a lot of the changes that we're seeing right now and a lot of the dips that we're getting it. It's only natural in these instances right if you're gon na, if you know that your cryptocurrency is breaking all-time highs, we're going what 64 65 000 last time we hit, that you can imagine that the dip is going to be anywhere near the next level, and it's Nice, if it does, you know, hit that support line of what we've seen before. But as we continue moving on you guys, you have to realize the higher the higher we go, the more we're going to fall, but it doesn't necessarily.

It doesn't necessarily mean that's the trend of the way this graph is going so back in 2018. 2019. We had these different dips too, and we can't compare what we've seen in 2013's. Bull run 2017's, bull run to what we have now when we broke such new records this time, and we have much better fundamentals.

We have much more people backing cryptocurrencies, acknowledging and being aware of what this is. So let me know in the chat, if you guys feel that same way, if you think this is going to be a dead cat bounce or if you think this may be pointing in a reversal. So let me go through the chat, real quick. Let me check up on y'all.

Did i miss any super chats devin pearson? Thank you for the 1.49. I will be putting that into uh a super low-key altcoin, something like that. A lot of people have pulled out during the prior week are probably buying. Now, a back in, i would think adam e.

That is a really good point right there and i think, that's all facts. A lot of people who panic sold are probably buying in as soon as they saw a little bit of green. That is just the natural fundamental newer investors anytime. They get stirred up emotionally, they end up following the tracks of it.

Is it something that works? Is it something that is good? No, no, not at all. That's why i try to teach as much as i can on this channel. First of all, never to promote low-key booty hole, dog water dookie coins that you guys know that i'm not a fan of, but anytime. I do see an opportunity, i'm not completely against it.

Where, if i see an opportunity that my subscribers can make easy money, regardless of how bad the fundamentals or or how i feel about the dookie coins, i'm always going to point you guys in a way where you can still make money by reducing that risk load And that's what i hate the most. I hate risk uh when it comes to cryptocurrencies. That's why i tend to focus more on the top 10 coins, because, although they're they're last time, 7 000 cryptocurrencies when i checked two months ago, there's definitely a lot more than that. We're probably approaching eight to nine thousand, with the amount of new cryptocurrencies being listed on the market.

I believe what you need to know what is very important for any retail investor. Never yolo all of your money into these dog water coins you can always do. I would say a minimum amount, maybe ten to twenty percent. Is it it's still kind of risky? But that's okay, when you have eighty percent and more stable, is not a good term right now, because none of the market is stable, but generally in a non-bearish movement market like this, when you put it into some of the other top cryptocurrencies that barely fluctuate implied Place in price with the way bitcoin is, i would say that is definitely good, solid game plan.

Okay, so rubbernob says just joined the stream. Do you agree on buying it now or hold for another drop and devin says this is a bad, a hoodie thanks man. This was actually the first merch first and only merge that i've ever dropped during the amc, livestream era and we sold so many of these. But they've been sold out since steven parsons you're, the man.

I appreciate you man, so let's go back to the question. Uh just join the stream. Do you agree on buying in now or hold for another drop? Here's! The answer do not try to time the market, because this this question right here that you have for me man, it's it's indicating that we're trying to time the market so in order to beat that because no one really can no one knows what's going on. If i said one thing, and it happens to be right, that would just be purely off of luck and i'm humble enough to recognize that here's, what i'm doing i'm actually averaging in continuously into these dips sunday, is definitely more of my power buys.

But whenever i'm not sure of what bitcoin is gon na, do i definitely take a little bit of moment to just sit uh. I mentioned this in my patreon post. There is nothing wrong with doing nothing. There's nothing wrong with doing nothing.

Think about that. For a second, a lot of people when the market seems to fall apart and the prices go down, it's in our natural instinct as humans to want to fix things you want to like go in there. You want to like place some more limits or you want to you just want to do something you want to be sitting around when literally your entire backyard is burning up near you, but that's something that you got to consider. Patience is a virtue, especially as a crypto investor or any investor in the market just sitting by and watching it.

Holding on to your investment and understanding acknowledging that the market is going through some times and if you don't have firepower, wait, don't sell just see what happens with the market, because i'm telling you it's going to be really easy for us to get back up to. Where we were before, but it's going to take some time - it's not going to happen immediately. So is this going to be the start to the next super cycle? I really hope so. I'm actually optimistic that we have a lot of room ahead of us right now, but we're still gon na have to fight a lot of new support levels.

We're gon na have to break a lot of resistance and it's gon na take a little bit for us to get there and, most importantly, we need this guys. We need market sentiment to come back because if everyone is fearful, yes, this is a good buying opportunity, for you know most in most investors who are educated, but if the entire public still feels this type of way about the cryptocurrency scene, we're not going to have That full retail push that does add up. It adds up over time yesterday or two days, ago's video. We talked more about how you know, even though the whales are in heavy circulation and they have a lot of the room and pretty much the direction of where cryptocurrency market is headed.

I don't agree with it. I don't think anyone does, but that's just the way. It is that's the way the money markets move. Retail investors still have money, the retail investors still have power.

You have to also realize that, during times like this, you just got to be smart about your investment things like dogecoin. We saw the price going up with the power of retail investors and, right now i feel, like a lot of people, are exhausted. A lot of people don't have that extra firepower. So here's what i imagine it's going to happen a lot of sideways trading action for the next week.

Maybe next two weeks, i think in june we're going to begin to start seeing um the price actions start really picking up. We need the fear and greed index to start moving back, at least towards the yellow and once people get confident in their investments again and people start believing like. Oh, this is like euphoria. This is crazy.

I can't believe how much money i'm starting to make again. That's when we'll see another dip back just because i know a lot of people are going to start taking profits, especially with how far of the dip that we've seen here. So you have to realize with any type of investment. Nothing is ever going to go completely up and up and up and to the moon like we.

Never we rarely ever see that happen. The only time you'd really ever see that happen is when you see a pump and dump, and that is before the dump actually occurs and you're literally just going up seeing the pump and if you've ever been on a ride for one of those, then you definitely Know what i'm talking about, but in terms of normal growth for an area like cryptocurrency, a niche like like this, that's ever evolving. You just can't expect for us to keep hitting these all-time highs every single time. So this dip, i think it's healthy.

We talked about the immune system analogy and we also talked about the new base layer foundation, so keep those things in mind. Let's make sure that we're not missing any cryptocurrency and let's actually look at some losers for today. If we got any so uh uh some of the losers, it looks like we got a lot of stable coins that are losing just because all of the uh most of the crypto markets are crypto. Prices are actually going so parabolic today, up 20 plus 20 for a majority of coins.

Icp is one of those lower hanging, uh cryptos right now, 145 theta fuel back to uh 13 increase celsius, 13 increase, but overall, today's a really green day. So if you guys do enjoy the green, like i said boom, you see that you see that fat thumb right there go ahead and do one of those drop a fat thumb down below all right guys. So a lot of people have been asking me about xrp, too um. I'm saving my thoughts for a future video that i wanted to create just pretty much like a whole guide on xrp, but today they are up 25 in terms of cryptocurrencies that you know with xrp they're more related to central banks, which is one of the aspects That i don't like about this, but there's so many other cryptocurrencies, that you can check out uh related to just the idea of overall, i would say, p to p right, peer-to-peer payments so v chain right now: 34 increase theta, 16 percent increase and it's very it's Bring it's being pretty good today, now dead, cat bounce reversal, okay, token metric, so this is something i also wanted to talk about.

I talked about it a little bit in one of my last live streams, but this is pretty much an indicator using some data that this company provides in order to get a better idea of what price targets we can see with other cryptocurrencies. So before we do that, let me do a little bit of chat reading right now to see if y'all are still in here. Oh yeah, we do what's going on you guys uh, oh odd sheep, says, enjoy your videos, keep up the good work hope to join the inner circle one day, good, that you bring that up. Inner circle is completely sold out.

We're not gon na open any more spots until after june, just because i don't want people getting double billed if they happen to sign up like may 31st, and then it charges patreon charges first of the month. So i'm gon na just wait till the end of the month, so you guys at least have that full month's uh worth of value that you get towards the end of june, so we're gon na wait till may finishes up. But i appreciate that and i'm sure you'll be able to get in soon. Okay, all right so future homesteader says i'm so green.

Where do i begin all right? So here here's what i'm gon na say if you're seeing green and if you're seeing positive, it really isn't a bad idea at all to consider just taking out your initial investment or to shaving down those profits. I got someone asking me a question brian. What does shaving down your profits mean? So i feel like if i ever do just run over some of these terms, because i assume that they're really easy to understand. But i also know that we have a lot of new investors watching these videos.

Just make sure that you guys stop me, and you guys also remind me too so, shaving down your profits is simply just getting how much you made the total gain that you've made from any individual crypto. So take a bitcoin as an example. Right here really really easy stuff, but let's just make it easier to understand all right so say we have bitcoin right here and you're you're able to buy it at the bottom of yesterday right. So yesterday we had a little bit of a dip say you bought it.

You somehow magically timed the market 32 000. With this chart right here and today, we're at 39 000 say you had an investment of 100 uh dollars that you put into bitcoin there's no way, i'm gon na be able to do the math but 39 minus 32, seven grand and then take the percentage gains Off of that, and then put it into a hundred dollars, seven grand all right so say you made 20 profit, which is definitely not right but say you're near that level. Shaving off profits just means literally taking out 20 of how much you made and leaving your initial investment. The other way to think about it is something i've talked about in my full exit strategy: video on youtube.

You just have to google exit strategy. Brian john crypto it'll come up. You also have to realize that you can take out your initial investment, so you end up playing with house money, another term that we talked about. So whenever you go to a casino - and you show up with 500 to play, blackjack the first hand you get you get 21 and you make another 500 back right.

There take your initial investment of 500, put it back into your pocket, so you have nothing to lose and you're playing now with house money. You can do that with cryptocurrency and your initial investment, so you have nothing to lose. Obviously, this is going to reduce the amount of reward that you have within these cryptocurrencies, but it's definitely a good way in order to reduce that risk that you have, especially in volatile markets like this now. The strategy that i'm going for right now is picking up.

Cryptocurrencies holding on to it because at this point timing, the swings right now is still, i don't want to say it's very difficult, but it's just so volatile where, with the crypto fees that you normally pay in comparison to like stocks, where you know you don't have To worry about that, especially if you're using a no fee brokerage, you want to be very considerate, especially about day trades, because those fees can really start eating. You up just the way cryptocurrency works and i feel like a lot of youtubers and a lot of people. Don't acknowledge that or talk about it, but the crypto fees can add up, especially if you are a newer investor without much capital in the beginning and oftentimes. You need to make like a two to five percent return off in you know whatever specified amount of time in order to even just make that return back on your investment at least getting your money in there.

So the beauty about crypto is that there is so much more potential right now. People are still so focused on the one-year charts, and even when we look at that, we think. Oh man, this is the top, but, like we've said so many times, you guys people assume that this was the top of bitcoin, that this right here was the top of bitcoin, that this was the top of bitcoin, that this was the top of bitcoin. You know we had a parabolic move and the confidence that i get in terms of where we see the future of cryptocurrency is really bright, because we're seeing we've already touched these peaks right.

We've touched some of the highest all-time highs in cryptocurrency, while we were moving at such a rapid pace now that we have a time to slow down catch our breath and really start, i think i think going sideways is going to be beneficial for the market, just Because we have a little bit of breathing room in order for us to hit that next marathon hit that next sprint. So right now with what we're seeing, i don't think this is unhealthy at all for a market. I think we're right on time right on pace with what we've seen before in the past. Now this isn't the best chart to get an indication of you know the the most specific technical analysis when it comes to cryptocurrency, but even for beginners, just a quick eye at a glance.

You can know that if things are tough pull the market back, pull the graph back, look at how much progress we've made since 2014 and people often think cryptocurrency's been around as long as the stock market has 1970s 1980s um. But that's not the case right. Cryptocurrency is so new still so very revolutionary, and a lot of the things that are happening right now are moving as we speak. So just keep that in mind you guys when you are making these trades, and you are understanding that look cryptocurrency one.

I'm telling you for a fact: it's not going anywhere. People can't just forget about bitcoin bitcoin is not gon na go to zero dollars or negative. Five thousand dollars - it's just impossible for it to happen like that uh, because it is not an inflationary inflationary currency like we've seen with fiat and if you guys are troubled by the amount of fl inflation reports that we're seeing. I don't know why inflation i don't know why that word is slipping me up: inflation, inflation, inflation, inflation, inflation, so inflation, it's going up.

It's definitely worrying a lot of people, but in this instance, if you are a believer of cryptocurrency, there are going to be cryptocurrencies that are going to allow you to hedge, your money against the the value of what the dollar is, and you know the future of Money and where it's headed, i don't think it's going to be fiat. I don't think like we're going to get to a point where people stop using the dollar, but just as an example like most people now use their credit cards, their debit cards, i rarely see people using cash or maybe it's just because i don't use cash. That often uh, it's definitely nice when you're, tipping people or you're trying to you know trying to do some stuff away from uncle sam things like that, but uh five to ten years from now. That's how you got ta picture these things, and even though right now it's still very shaky, you know in the entire crypto market it doesn't mean that it's going to be like this forever.

So keep a positive attitude. You guys keep a positive chin. I know the weather out, there is looking, not good in the state of md doesn't mean it's like gon na, be like that forever. The storm's always gon na pass all right, yeah yeah yeah.

We need the dip ride the dip. Yes, sir, all right, so we got 6 400 people right now guys welcome to this live stream. I got some news i wanted to cover as well. Let's talk about elon musk now seeing what this guy is up to so elon has been tweeting a lot about uh dogecoin, lately a little too much a little too much an hour ago.

He tweeted, if you like, to help develop doge, please submit ideas on github and reddit.com doge. So i know redis community has a lot of followers, especially for doge. Oh my gosh two. I didn't think it was two million subscribers.

I knew they had a lot, but i think it was 2 million subscribers. 46 000 people actively viewing this uh subreddit community right now check out his meme, my 10 profit from a trade, the irs uh yeah, so the irs is trying to step in guys. I did set up a few meetings with uh tax cryptocurrency companies - i'm gon na be in miami next week for the bitcoin conference and they've been inviting me to like sit at their table and like talk and chat with them. So i don't think i'm gon na do anything with them this week, but definitely after my miami trip, i'm gon na figure out exactly what the best services are, what they have to offer for you guys, because uh, a lot of people are still concerned about taxes And in terms of making profit with cryptocurrencies, i feel like, if you're so focused on tax, you to just you got to shed that negative mindset right there, because there's the focus of all this isn't about how much tax you're going to pay it's it's.

I don't want to say it's good to pay more taxes, but if you're making money you're still making money, people don't often say that people just say: oh you, i got ta pay more taxes, dude you're, making money you're, making a lot of it's good to pay. It means you're having a good year. Man. Now there are tax deduction savings, um, quarterly, uh, qbi, qbi deductions, that's something! I recently learned from my accountant a lot of different methods in order to reduce your tax burden.

If you are self-employed or if you are not or if you're employed working for um any of these uh, just just as an employer, keep in mind that you can always take losses too, to reduce your tax burden. In case a trade goes south, or if you are self-employed like me, i used to be taxed as an llc and an s-corp or an llc and a sole proprietor. If you change that over into an s-corp, you can save yourself self-employment tax, which saved me a lot of money this year and just one of those life hacks that i'm gon na drop right here. So if you know anyone who's, a business owner, make sure you ask them hey.

Are you an llc or are you getting taxed as an llc, because you know i heard from this random asian guy brian jung on his live stream that escort's gon na save you money? Take that with you all right. It's just an implement implementation that i've done. That's helped me out a lot all right, elon musk. An hour ago, he tweeted spoke with north american bitcoin miners.

They committed to publish current and planned renewable usage to ask miners wwe to do so, potentially promising, okay and then here's the first reply. Well bro. Perhaps it would have behooved you to speak with them before you nuked this market, your own net worth and all of the goodwill you built up over years. Ah, i couldn't have said it.

I couldn't. I couldn't have said it better myself, yeah so uh. It looks like elon musk is recognizing the damages of the market. I don't know if he tweeted this, because the market is green right now and he wants to associate his tweets with how well the market is doing.

Let me all tell you that elon's tweet right here did not make the market go up. 20 percent. This was already happening by the time brian young has uh had awoken from his slumber and uh. It was already up.

We were up 12 17 and then we went to 20. What we're seeing now i saw the market go up to 22 about an hour to go before the stream, but right now it is still fluctuating bitcoin. 39. 157.

Let's go not the right one! So does elon want to take credit? Does he want to you know, you know recognize some of the mistakes of what he did about ruining millions of people's lives with a couple tweets on a parabolic bull market which could have changed the future of many people's lives? I don't know it's a good question. All i know is uh tesla. You know we'll see that we'll say that for next we'll say that for next one anyways guys north american bitcoin miners what they look like south american bitcoin miners. So you know the thing.

That's really frustrating right now with elon is. I think he really does understand that the sentiment with him has changed. People aren't happy with what he said and he wants to erase and he wants to get that positive feeling back from the public because it seems like a lot of people are just not a fan of him, because if you read any type of article, if we Just dig a little bit deeper if we, if we take a few steps back and we realize what actually caused this yeah china had a little play in this yeah. The market was on a high bull run, but elon it.

It really started after elon's whole little doge thing, and then we had elon tweeting about bitcoin's, renewable energy source and and and everything we've covered on this channel and how tesla was not going to accept bitcoin anymore. Not happy not a happy camper he's going to have to do 30 of these tweets in order for me to put him back on my own crypto uh index elon right now, for me he's still in the red. So if he wants to come anywhere close to the green, this man is definitely gon na have to push us to some new all-time highs. I wanted to get bitcoin.

I want him wearing a bitcoin t-shirt for the rest of this year. I want him to shill. It so hard and look even with doge. Are we seeing doge getting a push right now? 14 increase it's at 36 cents.

Don't nothing crazy is happening with doge either either elon your power is nullifying. Okay, your power is going down which is good or bad y'all. Let me know, ah hello from canary islands, what's going on man, all right guys make sure you drop a like on this video, if you have not yet done so already subscribe to the channel, if you guys are trying to stay up to date with more crypto News uh at my apartment they had like this juicing stand and it tastes so good. So i've been cracking one of these open, honeydew, pear, kale pineapple.

There's a lot of sugar in this though, but it's gon na go bad because it's like organ, they don't put preservatives. So i got ta drink like two more of these by tomorrow. So i think i need to maybe like stop by my parents house and give them something holy crap 35 grams of sugar. You know what i'm putting this down.

That's a lot of sugar righty guys! Let's go over a little bit of crypto news and then wrap this video up with some q and a's, and what i'm going to do is open. This chat back up uh because we did have the slow mo turned on as as as well as the members. Only but i do want to see all of my real people talking in here, i don't want to be censoring the people all right. So let me turn that off only channel members may send messages.

You have been released, alrighty guys. So how have you guys been, though, other than that how's your week, uh being? Are you guys expecting the market to be green this week, or do you guys think this is the dead cat's bounce and we're going back to the the downside? Let me know how you guys feel about all this all right so in terms of crypto news vitalik, why elon musk's plan for scaling, crypto 10x is fundamentally flawed. So, as you guys know, vitalik has been talking a little bit to the press lately and the more i learn about vitalik, the more i actually like him personally on just a you know, a due to dude level. I really like his generosity.

I like the way how he handled chiba inu's coin, how he donated all of it to india's covet relief fund. I love the mindset that he has and just how focused he is - and i haven't heard anything too controversial about vitalik either. So if you guys don't know who this is, this is the founder of ethereum, with a co-founder, as they will say right here so ethereum co-founder vitalik buterin has posted a lengthy paper on the limits of blockchain scalability criticizing claims by tesla ceo elon musk shots fired. Let's see the article published on buterin's personal blog on sunday emphasizes the trade-off between decentralization and scalability in architecting blockchain networks.

So this is all relating to ethereum's plan in trying to upgrade and scale the the servers. So, what's going on right now, with with the entire crypto market, actually in terms of trying to stay decentralized, meaning that no one has influence or power like if you were talking about like paypal or vemmo, we'll use that as an example so say like vemmo. If i wanted to venmo you guys right now, five bucks, it would be instant just because we know that it's scaled well, that there's a lot of resources, but the downside is it's anything unlike ethereum or any decentralized cryptocurrency. It is very centralized.

It is very uh. Corporation style owned right so in terms of cr in terms of companies like that, you don't have to worry about scalability, they can scale to the moon in terms of speed in terms of processing powers, but you do lose a lot of things like privacy or maybe Security, where someone controls this and has access to your bank account as well with cryptocurrency, pretty much flip that it's the exact opposite, because they're so decentralized, where no entity is really controlling it and it's powered by people like you and me. Maybe someone holding these cryptocurrencies or people who have the mining equipment, just computers and the software, that's how it runs. So it's harder to scale a lot of these decentralized networks and that's why we see other cryptocurrencies other protocols um that are assisting in this cardano polkadot.

Some of these uh uh other platform cryptocurrencies anything oracle related to help just boost the server's performance, that's where you're going to notice and that's why people often prefer to invest into those cryptocurrencies compared to some of the top ones on the market. For me, it's good to have a mix of both for me, it's good to diversify your portfolio and you should never be one cryptocurrency or even three or four i feel like you - can still make a lot of profit in that once we get out of this Little rut that we're in right now, but in terms of diversifying and having good leverage and understanding the crypto market in a long-term scale, there are going to be winners and they're going to be losers and they're going to be cryptocurrencies that do not make it. And if you have more eggs in the basket - and you do your research - and you know the ones that are gon na be around for a long time - oftentimes you're not gon na, be stressing too much about these short-term volatility runs uh for me, when i do My investing, i know that these cryptocurrencies have a bright future. They have things planned and they're going somewhere, and that is why, even if it doesn't go anywhere in the next year or so as long as i can keep bringing in cash positive income, i want to make sure that investments are something that i don't have to.

Necessarily use as my emergency fund, but they're still there and i can hold them long term so back to the article he says. Ideally, doge speeds up block time. 10X increases block size 10x and drops feet 100x. Then it wins hands down.

Although my trapezoid is itchy. All right, buddering challenged musk's proposition, emphasizing the challenge of seeking to achieve a sharp increase in scalability and throughput without leading to extreme centralization and compromising the fundamental properties that make a blockchain what it is pretty much everything we just said. Buterin stressed the need for decentralization to eliminate the risk of a network having a single point of failure and the protections that a widely distributed network enjoys against coordinated attacks. He added that decentralization cannot be achieved without regular users being freely able to run nodes, and this is why he is trying to move over oh they're, going to get it done.

They're trying to move over to proof of stake instead of proof of work where the interesting thing about proof of stake. Pretty much focuses on this paragraph that we have right here where, if anyone wants to go against the network or attack it often times, the person who has the most amount of influence is the one who is staked the most amount of money. So if you try to attack the own network that you staked your money into you'd be losing out the money that you staked, meaning it's gon na cancel out for the most part. So there's a term for that which is slipping my mind right now.

Uh. Let me get it there's a term. I wonder if it's the color red that i'm thinking right now proof of stake uh. What's the word rise in network okay, tragedy of comments? Okay, the 51, so this is something that you also have to learn: 51 attack.

This refers to an attack on a blockchain, most commonly bitcoins, for which an attack is still hypothetical by a group of miners controlling more than 50 percent of the network's mining, hash rate or computing power. So this is an issue that you get when you're, not on the proof of stake network. A 51 attack is attack uh, where they own a majority of it. That's when they have a lot of the influence.

So how does this work? Bitcoin and other cryptocurrencies are based on blockchains a fourth of a distributed ledger. Most of you guys should know this. These digital files record every transaction, blah blah blah. That's all blockchain information, um uh.

So here's what you have to know what's really important. So no one can spend a coin twice, so called private blockchains. This introduces permissions to prevent certain users in the general public from seeing all the data on a blockchain, as its name implies. A blockchain is a chain of blocks which are bundles of data.

That record all completed transaction during a given period for bitcoin a new block is generated approximately every 10 minutes. Once a block is finalized or mined, it cannot be altered, since a fraudulent version of the public ledger would would quickly be spotted and rejected by the network. Users so uh. Here's a real world example, so krypton shift two blockchains based on ethereum suffered 51 attacks in august 2016., so in may of 2018 bitcoin gold.

At the time of at the time, the 26th largest cryptocurrency suffered a 51 attack, the malicious actor or actors controlled. A vast amount of bitcoin gold's hash power such that even with bitcoin gold repeatedly attempting to race raise the exchange thresholds. The attackers were able to double spend for several days, eventually, stealing more than 18 million dollars worth of bitcoin at gold. So in terms of cryptocurrency and the reason why 51 attack is so it just important to know when other cryptocurrencies are trying to move into scalability with what we're, seeing with vitalik they're, going to often times move and and have this argument against decentralization, which is really The compromising factor between both, if you want to eliminate the risk, actually he talks about it right here.

Buterin stressed the need uh for decentralization to eliminate the risk of a network having a single point of failure and the protections that a widely distributed network enjoys against coordinated attacks. That's what the 51 attack uh is as a real world example. It has happened before in the past and i wouldn't be surprised if we see it happen in the future. Even though it's going to be a lot harder, there's a lot of d5 protocols right now that are coming out in order to first of all catch hackers or to provide insurance in in these instances and just protect uh some of these crypto projects.

But we can't guarantee that we're never going to see a thing like this and we even had hacking with another exchange less than what less than like two three weeks ago too. So a lot of this is happening and, as as technology continues to evolve and we're getting these super computers that might be built one day that could pretty much take over all this like skynet, you got to realize, regardless of the conspiracy theories and all the things You might hear on the news we're still making trends, we're still making movements, but there will be mistakes made. There will be failures there. There will be attacks on the networks.

Just like this uh. Would i consider this fud or bearish news not at all. In any degree, i think it's just showing more of a further involvement and an evolution of cryptocurrency and seeing what the future it has for it. If people want to hack it and spend their whole life, trying to take some of these and and find the holes in it, the holes are going to get patched up.

Oftentimes people don't lose their money. Oftentimes people actually get reimbursed from all the other uh. I i would say, like i don't want to say necessarily insurance, but there is a lot of good coverage, especially with a lot of the brokerages and exchanges so think of binance when they got hacked a little while ago, when binance got hacked, they actually reimbursed. All of their money to uh to uh their consumers, which is really nice.

So this guy right here cz, is his nickname, um zao, chang peng he's his full name, he's the ceo of uh binance and they had an incident where thieves nabbed 40, millions of uh 40 million dollars of bitcoin. This is why i do like binance as an exchange. I just don't like the fact that it took him like a month and a half in order to improve my approve, my account man today. Today, the words are not flowing it's the weather, it's the freaking rain outside, but pretty much guys.

Uh binance was hacked 40 million dollars uh and it was taken out of different users wallets. What did binance do? They reimbursed everyone almost immediately and they were so transparent about this entire story and they said hey, we got hacked uh, our users got their money back and they were just transparent through it, and i feel like as long as companies come clean with this and let.