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Bitcoin Halving Is Today, Next Price Movement, ETH Vs BTC & TRON Stimulus

VIDEO TRANSCRIPT

And lo, everybody. Welcome back for another video. Hope you’re all doing well and that you’re all having an incredible day to start things off. Today is the day after months, years of anticipation. The Bitcoin having is here today, just past 20 hours, 30, depending on where you are in the world, I think is roughly at the time of me making this video about a good 10 hours left. The rewards that Bitcoin miners receive in exchange for the work they do to add transactions to the block chain will be cut in half. What does this mean for the Bitcoin network? Predictions about the consequences of the having range far and wide. But there are several popular narratives among cryptocurrency crypto currently cryptocurrency analysts. At present, the price of Bitcoin has taken a bit of a hit, if you will. Bitcoin peaked at ninety seven hundred on Sunday, the 10th of May. At press time, the 11th of May, that figure has shrunk to eighty six hundred. We recovered from it says eighty four hundred. I spoke about this yesterday as well. Depending on where you look and where you were getting your cryptocurrency prices or cryptocurrency articles. We dropped to as low as 80 100 on certain cryptocurrency platforms, but we are or have recovered from 80 one hundred within the last 24 hours. Although is important to note that Bitcoin is up roughly 40 percent since the beginning of the year, outperforming both gold and U.S. dollars. I’ve been seeing a lot of articles about this as well, that a lot of people have been trying to see what has been what assets have been doing well during all of this madness that has taken place over the last three months. And once again, even with a move down, if you will. Bitcoin is at the moment, I believe, the still the best performing asset of anything in the world right now because of, you know, there’s a load chart right there. And one of the most popular believes in cryptocurrency circles about having events is that they are great for the price of Bitcoin, that sooner or later having will cause the Bitcoin price to explode. The belief stems from the fact that cutting the mining reward in half contributes to greater scarcity of Bitcoin as a number of users on the network continues to grow at this present. Pree having moment. Eighteen hundred Bitcoin are produced every day through Meiners Post. Having that is going to be nine hundred per day. And then it goes on to talk about some other people who, what they think and how long it will take place. It is one person I believe he said it takes. He said he believes it’ll take anywhere from 12 to eight no. 18 to 24 months for Bitcoin to try to reach over twenty thousand again. I think that is a I don’t even think the word is conservative answer at that point. I think it will happen much, much sooner than that. I think we are at the point aiming for prices that are a lot higher than twenty thousand. So I think twenty thousand will not be as difficult as people think. But I think the more difficult part will be the actual mega psychological barrier of a trillion dollar market cap. I think that’s going to force greater volatility within the crypto currency space. Yeah. Adam, I mean, this is it. We have been talking about this for heaven knows how long. But here we are. I am. I mean, to say excited is once again an understatement. It seemed like this day would almost never arrive. And we we’ve all had those moments before where you kind of just assume you’re waiting for something. Will it ever get there? No, it’s gonna take a bit longer. But alas, here we are. A lot of the discussions are, for those of you not looking at the screen, said Bitcoin price rests near eight thousand seven hundred dollars at the dump. What’s next? I can give you the yays and the nays if you want. The majority think that the actual fall down in price that we had yesterday, over the weekend was the was the actual having dumped that people were anticipating I e it took place before the actual having happened and therefore after the having prices will move up. You also have the naysayers who say that Bitcoin has to retest three thousand two hundred, that Bitcoin has to be so and so, which is complete nonsense in my opinion. The other articles we’re talking about, the actual current price of Bitcoin, have made sure to note that we not only bounced off of the eight thousand dollars where we fell from, but also the. That we’re constantly floating around or maintained the eighty six hundred eighty seven hundred dollar support, which is a support line. And therefore the fact that we are over it, floating above it, against it, whatever words you kind of want to use. Shows that we are still in bullish territory. If you kind of want to say that this person right here believes that we would meet, we may retest nine thousand five hundred dollars once again, I in all honesty, I think this is going to be a very crazy week, not only for crypto, but just in general, like for the entire world. I just feel something is is is going to be a miss something something weird is going to happen. And I I think that’s also going to contribute to the wild swings in Bitcoin’s price. As always. Or rather, don’t be surprised if the price goes down and then don’t subsequently be surprised if a day or two later we hear that it was from Wales. I think there’s going to be a huge amount of hype as far as people trying to buy. It is going to be hitting the actual, dare I say, main stream news, because this is also a very big topic. If they’ve been talking about the price of Bitcoin before any of this was happening, imagine what’s going to actually happen now, especially if we end up getting a really good move up or move down in price. It’s going to hit the the airwaves. No one uses that term anymore. But, yeah, we are here. We’re going to see exactly what happens. This is the big day. I actually can’t believe that it’s here. Yeah, I would ask what all of you think is going to happen after having the comment section would just be a mess. It could just be tons of people fighting. I think the last like two weeks I’ve seen such an increase in people calling each other names or and I’m sure you’ve seen them as well. It’s very difficult to get the amount of scams. Spam within the comment section has been absolutely wild. There’s there’s one in particular. It’s actually really funny. It keeps. It kind of goes like this. Oh, my gosh, I’m so happy that you mentioned blank coin because it is my favorite coin. I’m glad you also mentioned it because, like, it it it’s some type of a robot. Maybe that does it on almost every one of my videos as I go through the comments. It’s very, very weird. And they pretty much right. Hey, I’m so glad you talked about this coin, which I never did. It’s usually like Hex. Did you bite in like two or three other coins? You if you watch the channel before or even just one other video, you know which coins are important to me and. Yeah. So there’s a lot of spam, a lot of fighting. But I mean it’s to be expected with all the. All right. Yeah. That’s the that is the bitcoin having. Where will the price go. Next question mark. Question mark. And yeah. Let’s move on. Next up, new data comparing Bitcoin’s fundamentals now and around the second having in 2016 demonstrates the immense growth of the network. Double, triple and even quadruple digit increases are evident in all areas, including the number of Bitcoin addresses. The hash rate and the daily transaction volume. While most members of the community are focused on the volatile price movements around the having new information compiled by Glass. Node takes a thorough look at how Bitcoin’s fundamentals have developed since July 2016. Seems like an actual lifetime ago. My gosh, I’m in 2016, which is a very weird cryptocurrency. The prices weren’t moving. I was angry at everything. I remember looking at the prices. You’d wake up and the price would be up by two percent and you like, yeah, you get back from the supermarket is down by 14 percent. I’m just a very it’s a rough time for me. For starters, the number of Bitcoin addresses has jumped by two hundred and thirty four percent. Those addresses are at an all time high at the moment. Over 30 million. Interestingly, the number is even higher than during the parabolic price increase in 2017. And this isn’t the only thing that’s up since 2016, 2017. This is why I mentioned a lot of times and in many videos, while prices are important in the short term, the more important thing to look at is the actual fundamentals of the Bitcoin space. The address is the usage of the transactions, the amount of wallets, the amount of people who are gathering or accumulating crypto currencies as this is what it’s actually based on. If we had seen that in 2017, we saw this line going up twenty eighteen. It was a rough year for all of us. But if 2019 had been around here, that’s when you start getting worried to the fact that we are on a continual upswing with 2017 being the real anomaly, because it probably would have been resting around somewhere around here. This is great. It’s nice to see that even after prices have crashed because of Wales in 2018, that we are still on upswings. This is also why I mentioned before. Why would all the mega institutions be looking to get into an asset class that was going to fail? It’s because they know that it’s not going to fail and therefore this is why they’re putting their money into it. This is just how I view it from my vantage point anyway. This is a list for the number of Bitcoin addresses as crypto potato. Wow. Recently reported the interest in opening new addresses containing at least zero point zero one BTC or a million. Tosches has been surging lately with over four hundred and thirty thousand created in the last 90 days. Loan additionally addresses with at least one Bitcoin or 10 million Satoshi. These are at almost the or also higher than in 2016 by 64 percent and one hundred and forty two percent respectively. Entities holding 1000 bitcoin or more is the only measure which has decreased slightly by seven percent compared to 2016 because Bitcoin’s price is significantly higher and therefore it’s more expensive to buy 1000 Bitcoin. That makes the most sense. I was just watching. Something is really funny. I was making breakfast. I don’t if you care for that. The point is, I was watching something while I was making breakfast and I was watching like a video of this guy in Switzerland who was I think he owns Bitcoin Swiss whoknows. And they would he he he was discussing or he was being someone was interviewing him and they were asking him the question, when did you first get into Bitcoin? What was the prize? And he was like, price. He’s like, I got into Bitcoin before there was a price. And the person was like, what? He said, Yeah, I got 50 Bitcoin like I think like a couple of months after it came out because I think he paid for his friend‘s coffee or something like that. And he mentioned he had bought his first 1000 Bitcoin for I think like seven hundred dollars. And I was like. So he he he holds an enormous amount of of of bitcoin. Yeah. I thought of that when I saw that thousand dollar Bitcoin, because if you, if you, if you bought a thousand Bitcoin or seven hundred dollars and you saw the price of Bitcoin hit a dollar, you probably go, OK, well the price increase, let me buy a little bit more. It’s four dollars. Let me buy a bit more. Eight dollars by a bit more. So, yeah, I just thought that was interesting to note. Here’s a little chart for the addresses. The Bailey transaction count and volume have seen substantial growth as well. More specifically, the transaction count is now 44 percent higher than in 2016. While the volume has skyrocketed by six hundred and eighty two percent. That’s insane. Two to two point one billion dollars per day. In fact, the last note and firms in four informs that the on chain volume of U.S. dollars has been consistently high since 2000, 17 of them. I mean, this is a major difference. Twenty sixteen compared to every other year. It was it was these years were rough. I mean, it wasn’t difficult keeping hope alive. There were just more like, you just want something to happen. And then it’s kind of like, okay, you can you can go up now. Although the data above illustrate significant increases in almost all areas, none has been more impressive than the growth of the hash rate back in 2016. Bitcoin hash rate was one point five million Tarah hashes. It is now at one hundred and nine million Tarah hashes to put this into another perspective. It’s a surge of six thousand eight hundred and thirty seven percent in just four years. Bitcoin is fundamentals are incredibly solid. They’re great. We are passing the high 2017 numbers, which once again, I mentioned a couple of other videos. I said. Don’t you think it’s weird that even that not only that prices are down, that we can have any one who would be negative and or bearish on anything within the Bitcoin space? We are doing exceedingly well. Fundamental, wise and fundamentals is what ends up translating into higher prices, especially when people continue to use the network and more people jump onto the network and more people are trying to accumulate the one million, 10 million Satoshi range or if not an entire Bitcoin as Bitcoin’s supply is limited. So regardless of the there’s a huge discussion happening right now amongst the cryptocurrency space. And I think we went over this yesterday as well as far as people or miners in particular who are going to be selling off higher and or lower, depending on how you want to look at it, portions of their Bitcoin holdings in order to pay their rent, to pay their electricity bills and stuff like that. You have to keep in mind that they may be selling Bitcoin into the market, but they are going to for every seller, there is a buyer. And at some point you have a situation where you realize once again that Bitcoin itself is still finite. Just because they are selling off Bitcoin does not mean that the Bitcoin machine is spitting out more bitcoin. It remains the same. It remains consistent because math anyway. Yeah, I saw this. I thought it was great. I think we need more news like this simply because I think people kind of lose sight of exactly how strong and powerful the Bitcoin network is. Once again, the news that we had, you can Google it. Bitcoin is the eighth largest currency on the planet. That’s not a joke. Just imagine when we passed by that and this was this news came out when Bitcoin, I think was below or around ten thousand dollars. So imagine when we hit twenty five thousand magin, when we hit fifty thousand dollars. What number ranking Bitcoin will be? Anyway, that’s that news. And let’s move on. Next up, open interest for c m e Bitcoin futures made a new all time high of just under half a billion dollars on Friday, the third consecutive day of open interest records. This week, significant growth and C.M.A Futures demonstrates the intensifying Konta contest contest between oh my gosh essay contest contest between the stalwart institutional trading platform and crypto native derivatives exchanges. Like Big Macs over the past month, semi’s Bitcoin futures market has grown faster in nearly every other Bitcoin futures market on a percentage and real growth basis. There are the charts right there with C.M.A being in yellow. Soaring semi open interest coincides with news that prominent American hedge funds are interested in investing in Bitcoin futures as of April. Renaissance Technologies, a flagship medallion fund, is considering trading Bitcoin Futures only CMG. On Thursday, Paul Tudor Jones, the second of the Tudor Investment Group, also told investors he is keen to invest in Bitcoin futures. This is the entrance. We would definitely get over the whole Paul Tudor thing a couple of days ago. This is in a the beginning of the interest entrance entrance, not interest because they’re already interested. The entrance of them into the cryptocurrency space. I think when it comes to the traditional or more traditional investors, it is easier for you to sell them the idea that you are going to get into Bitcoin futures, which may either be settled and so and so other cash or in Bitcoin, but you have to have something that is comfortable to them when they start saying that they’re making money or when they start seeing that other people are making money in Bitcoin as well. The actual physical Bitcoin air quotes because as digital numbers on the screen. This is how you get more people into the cryptocurrency space. But the fact that we’ve seen a large spike in interest. For Bitcoin futures is I mean, from a decentralized standpoint, you got to go from an actual growth of the space standpoint. Once again, keeping in mind, a couple of years ago, institutions would not even mutter the word Bitcoin and now they’re all over it. They’re buying up as much as they possibly can. Or they’re trying to have some type of an exposure to the asset, even if it has to go through CMBS. Bitcoin futures. Fascinating indeed. We’ll see where all of this goes, I guess. And I want to give you a time frame, but at some point we’re going to see this this interest accelerate in different directions. And I think it’ll start more if we end up seeing more Bitcoin side chains and or more Bitcoin decentralized finance products. I think institutionalise institutions will grasp that almost immediately, trying to figure out ways to profit from it as well. Yeah. Let’s move on. In news, that was kind of everywhere, news ish, maybe kind of a theory, I’m cocreator, Vitaly Budarin is fending off naysayers who believe the smart contract platform is simply extending the life of the legacy financial system instead of offering a truly decentralized alternative. I’ll give you a backdrop to see you understand a bit more of what I’m going to go through. The idea has been since the very beginning when he theory launched was in late 2015, early 2016. The idea was it was garbage. It’s trash. We don’t need it. How dare you? We already have Bitcoin. That was kind of the idea as time has gone on and ethereal has risen in price and has become more popular and more people are using it to more institutions are trying to use it in the entire decentralized financial space has grown. That narrative has kind of disappeared, however, for people who are Bitcoin purists. The idea is that if cerium is working with far too many institutions. Case in point, the Enterprise Theory Alliance, while a lot of these institutions may be making their own side change on a theorem or even using the actually theorem network themselves. The idea is that Bitcoin is meant to dismantle the current financial system, i.e. you don’t have to rely on anything. The old system has Bitcoin does all of it by itself. You can send money back and forth to who you want, when you want, how you want, 24 hours a day, seven days a week, just through the Bitcoin system. However, for a theory and it comes down to other companies and corporations are building things on top of your theory, um, that are simply things that we already have and the traditional financial markets. Whatever JP Morgan Chase is going to be building on it, whatever Microsoft is planning on building on top of it, you kind of get the idea. And this leads to the eye symbol idea that. E theory theorem is kind of facilitating B sticking around of these traditional financial institutions by building more. That’s the argument. That’s the actual argument for those. Like I said, I had to give you some context before I kind of went further into it. In a debate on Twitter. Buther Encounter’s, a statement from the founder of Crypto Ne. Yes. Who says the theorem based decentralized finance movement, which is designed to offer a way to access services like loans without intermediaries, is actually creating an ecosystem that’s chock full of middlemen. Once again, the idea for Bitcoin is I send money to you, you send money to me. There’s no middleman. It’s just me and you back and forth. However, with a theorem, you have all these other platforms that are based on top of you theory and therefore the money has to kind of flow through them and or other middlemen are creating their platforms. Orny Theorem. So if I’m sending money to you, it has to flow through their system and they have the AYSO, that KYC, AML KYC and then it pops over to you. But there’s still a middleman when there doesn’t have to be one. So this is true and maybe metalic is still a Bitcoin. But in present, every theorem is clearly not sharing goals with Bitcoin. Ethereum is prolonging the legacy financial system full of intermediaries, and Bitcoin is creating a new one without the middleman, Italic said, I really and truly think it’s the opposite. Bitcoin people seem happy to have lots of centralized middlemen Bemax, Teather, liquid, and it’s the etherial community that’s trying to decentralize these functions with smart contract constructions, which is it’s it’s kind of a 50 50. A lot of the things that are becoming popular on Bitcoin that institutions want to use once again because they kind of have to go through these things are things like Teather or things like liquid, which speed up a cryptocurrency trend or Bitcoin transactions amongst institutions and or cryptocurrency exchanges. But at the same time, these things are going to be created regardless of if we want them or not. We’re we’re going to need side chains. If Bitcoin is going to remain as a core unchained and at the same exact time, same exact thing with the theorem, if he theorem, it becomes more popular, more institutions are going to build on top of it, whether Retallack says yes or no. And a lot of what they’re trying to do or what they have claimed that they’re trying to do with the theorem are the creation of smart contract platforms or whatever that they’re trying to create. We’re simply that acts as the actual middleman. So is the actual computer system doing it and not an actual person? But is Amida Budiman also less a few ethereal based systems that he says have remained faithful to the decentralized nature of cryptocurrency, including decentralized exchanges like yttrium name service and automated exchange protocol unit swap? Like I said, this was kind of everywhere. I think this discussion is going to go on forever. You can make arguments on both sides. I think or like to think that a lot of the people on the theory and project are aiming for a more decentralized world. But you will always have that apple in the bunch who just doesn’t really care who is just there exclusively for profits, as opposed to the thought of making a better world for all of us, as it were anyway. Yeah, like I said, I mean, this is. Sure, why not kind of discussion? But, yeah, that’s that news or today. In the news, I couldn’t avoid. I tried my darndest and I mean, I was bombarded with this nonstop. A stimulus aid package worth around two million dollars was allegedly awarded by the U.S. to the Tauron Foundation. Matthew Graham, CEO of block chain investment firm Orsino Global Capital and Beijing, translated and shared the post. The Tron platform owned by Justin Sun has been handed by the U.S. government a two million dollar grant due to 19. It was posted on the platform. We chat. Two days ago, a report cited the grant as once on once again, another Tron foundation and controversy Katrina controversy. But it was yes and verified claim of packages from the US. So the point is they’re meant to be federal relief for companies in need. Here’s the actual thing right here. The Post, apparently the translation was it was given by the U.S. in the form of two million dollars and is not supposed to be paid back. The issue is, as it were. Right. It’s it’s a lot to unpack. But right here, for those of you not looking at the screen or who simply don’t remember, it says BitTorrent is selling for one hundred million dollars to Justin Sun and his block chain startup known as Tron. People from Tron have purchased an enormous amount. They purchased BitTorrent. They purchased steam and many other things that they’ve spent millions and millions and millions and millions and millions and millions on. So the question then becomes, did they need the two million? It seems more like if they in my opinion as well, if they had better men, money management. I mean, one hundred and forty million dollars is is an enormous amount of money to receive two million. Do you need it? No. Especially when you have tons of businesses around the US who are actually closing tons of people who can’t pay their rent to can’t pay their mortgages. So this is kind of the discussion going on. And a lot of people are not too. They’re not too thrilled about all of this happening. Like I said, I could not avoid this. I really, really tried because I kept on seeing the news about this. But eventually it was like. It’s hitting me in the face over and over. If this is so apparently this is still a legend. No one knows for certain. I think people have been trying to. Get a proper answer. But I think one has not been given. This tells me supposedly, allegedly from the information that I have acquired, absorbed from the Internet. They probably did receive the money. And as such, are just trying to be hush hush about it. If they did receive the money, that’s a bit of a shame. I’ve been watching a lot of stuff about the the things that families and businesses are going through, especially once even all of. And I dare not say all of this is over of the next couple of months as more places try to reopen. A lot of places simply won’t ever be able to reopen. So anyway, yeah, like I said, that was that news. If it turns out to be true, because I, I it’s it’s all over the place. It’s not like on one or two different Web sites. It’s it’s very major news right now because I’m pretty sure people would not be are not thrilled if this is actually true. Anyway. Yeah, let’s move on. This is awkward. And yeah, as of right now, depending on where you look, the prices at the prices, the the the timing is different on every single website. Some of them have it listed as 10 hours. Some of them, this one says nine hours, 44 minutes and twelve seconds, which is obscene to think they were that close. Other ones have things like eleven hours. It is very weird, varying times. I assume as we get to the last hour, things were kind of slimmed down and become more accurate. But yeah, nine hours according to this. Nine hours and 43 minutes, Bitcoin’s reward is going to get cut in half. This is absolutely obscene. Even have like a little chart down here for the other having is in the block height when it’s supposed to happen and the actual rewards when we. I remember I remember people talking about Bitcoin’s block reward being twenty five. The fact that we are going to be at six point to five and then the couple of years at one point five, six. These numbers don’t make sense to my mind anymore. Imagine going from 50 Bitcoin PLUR per block reward to one. It’s it’s it’s it’s a lot, but, yeah, that is. More or less, they say, more or less. It’s more and more the news that we have for today. As always, a very special thank you to my Patriots supporters. Hold on, I have to sneeze Crayola. Michelle, you are well on crypto with Lionel Tiger, a macho nesa. Make me a cake. Army Medic 17 Anytime Fitness Moncks Corner Staff Bodey MC Boldface. Yes, the Krypto Miller Hitch Test Everyday in Cowslips Leg Day Minting Coins. Jeremy Fox. Jim Gardner. Anthony Charles Nickman Delivery Praksis. Vlad the Impaler. Richie Richard Third. Nick Kanaya set soon Adamia Nicholas one with one piece one love crypto artist cold 3D Adobo Bankroll Network Crypto Joe two for two to the worldwide night. Al Jarreau Schneider Master Ventures in Thailand. Mohammed Ronie Adam Grasset Todd Mollis. A Biblio phobia the antima reader John Starts and Nostromo Jungle Loadout Song Alone Omar and Steuer Joshua Vinyard The Pothead Moon Man Hi SRP Yashar Hot Audy and Professor Walli from Gun Bot University. Thank you all very, very much. Your support. Thank you to everyone who is a member of the channel. Thank you to everyone who has a clicker of affiliate links. I do. Thank you all. Sincerely, at the moment, Bitcoin’s price is currently eight thousand five hundred and ninety one dollars, at least on this Web site. It is currently down by 2.8 percent. We are very volatile at the moment. I assume it’s a mixture of people who are trying to. Well, I mean, logically, people who are trying to buy and who are trying to sell. Good job there. But I think it’s it’s only going to intensify as the next couple of hours go on. You have people who are either trying to raise the price of Bitcoin and I assume there are massive amount of buy orders. But on the same exact side, on the other side, rather, you have people who are adamantly trying to push the price of Bitcoin down. Why would Bitcoin logically be going down in price during this movement or monumental day that we’ve all been waiting for for a long time and with the fundamentals being very strong? It has to do with. At the find like a really cool name for them, like dirty whales or like. While she whales are the whales who who keep trying to push the price down, it’s just them. Eventually this. I was reading an article about it before as well, and I said eventually this will be almost impossible to do because the buying pressure across the board will eventually be so high as the coming years continue to move on because of the amount of people who want to accumulate Bitcoin that any type of massive sell off by a whale will be at their own demise because they’ll have sold off and there’ll be a huge amount of buying pressure or people who will be more than willing to buy up everything that they’re trying to sell. So at the moment, the market is down, all of the market is down. I mean, Monaro is up. Cool. Yeah. Just how things are. I. I was going to ask if you’re all as excited as I am, but I might be the biggest nerd in the building here waiting for the reward having to happen. I do hope you all enjoyed. Hope you all are having a great day. Great morning. A great afternoon. A great evening. Wherever you are, wherever you might be. I do hope that it’s absolutely fantastic. Thank you all, once again, we’re watching and or listening. And I will most certainly be talking to you all soon. See you.

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