Low where everybody, welcome back for another video. Hope you’re all doing well and that you’re all having a great day to start things off in. Very confusing. Weird. Odd. Don’t really no news. With a newly launched multi-client test net Theorem 2.0 is on track to meet its phase zero pre launch requirements. In theory, I’m co-founder of Italic, Budarin said on Monday, kicking off Quoin Desk’s Consensus Distributed Conference Beta and discussed the latest progress. In particular, he highlighted the recent release of the first Ethan 2.0 multi-client test net. The launch of the new network, dubbed She Lazy, is a major milestone for a Theorem 2.0 development. It is, or since it is a what? It is a yes. It is a hard, prelaunch requirement that two or more compatible clients run a test net together for at least two months. Right now, the sleezy network features two clients. They are Lighthouse and PRISM, the tech who and nimbies clients have also sinked with lazy and will soon run their validators on the test net with four clients and to operate on the test net. Lazy is laying the ground for the official multi-client test net that the theory and foundation will deploy in the near future. Here we go. Justin Drake, a researcher at the Theory and Foundation, previously said that the team is hoping to release phase zero may net before the 30th of July, the fifth anniversary of the theory and 1.0. But the launch schedule pushed repeatedly from the initial date since January quarter three, January 3rd of quarter two to now quarter three. It is unclear whether the project can follow through on the July timeframe. I’m pretty sure you see where this is all going. This one tying directly into this hearing reports of a July launch date, Theorem 2.0 Metallic Budarin said he misheard the question at a conference and now clarifies further as to the launch of the official launch of Winning Theorem 2.0 is going to be in a response on Twitter conversation discuss the July launch date. Vitaly responded by saying, Yeah, I did not say July. Perhaps the question contained the word July, but I did not hear July when it was asked. OK, I definitely should have heard Juline the question. It was my mistake. End quote. It happened yesterday at the virtual conference consensus, which is currently underway. Vitaly notes that he misheard the question when the when the confirmed what who wrote this? Which confirmed the launch is still on track. Early on February, another developer seemed to have 95 percent confidence in a July launch, which was then referred back to the reports to which he gave a thumbs up. Later in an e-mail. This is ridiculous. Later, in an email response to Coin Desk, the organizer of the conference clarified. My actual stance is that Ethe too is on track and that there aren’t any unexpected bumps in the road. Test nets are coming along, etc.. But I defer to the club. Calev client devs on timelines and if they are now saying quarter three more broadly than I believe them, since 2019, the developing team has made progress with a series of initial launch of the second chain, but none can. Who wrote this? But none complete. The last significant development was the initiation of the proof of state protocol, but only a on a public test net without daps applications as mark contract platform. So for those of you who are not paying attention. The news that we are getting right now, at least over the last 36 hours, is that apparently and even I think it says it’s somewhere around here as well. If I’m not mistaken, about. But up. Pop up. Yeah. Apparently, a lot of people are like, what’s going on? I heard July. You heard July. Everyone knows her. July. The news that we are now getting is that. Not July, Vitalii never heard. July, he should have heard July and therefore maybe not to July. It says, nevertheless, the community was still looking into a July launch. Yeah, because we’ve heard about that for the last four or five months. The CEO of Oak Coin, Jason Liow, expressed disbelief on his own bid being misled. He said, I’m shocked. But others in the community also mentioned July like we all. Heard July, and I mentioned this a couple of months ago. Remember, remember, I said? I have a feeling that what’s happening with Cardno is going to be pushed back. We all heard May. And then as we got closer to May, the May timeframe became. Oh, yeah. This is this is for family and friends, too. To test it out. And I said a theorem needs to really get moving because we are in a we’re in a very. The word is an unexpected time. I mean, yes, yes, yes. Gibbs’. Yeah, it’s actually completely unexpected. But the coins have to kind of start getting a move on, as it were. And I said the most ridiculous thing would be, I think I said this in February or March, is if we start getting closer to July and we hear the O. July. Is that a month? Oh, no. There’s there’s there’s no July, any theorem. So the news that we’re getting now is quarter three. January, February, March, April, May, June, July, August, September. That now puts us anywhere between July to September. As quarter three that we have all seen and you heard me say. Where you theory home 2.0. I am not losing faith or losing hope. Is like just get a move on already. If this is only the phase zero launch, we’re going to have very big problems because the full release of a theory M 2.0 is probably going to take a good three to four years at this point. So, yeah, that is the I mean, this news was all over the place. A lot of people are scouring the Internet trying to find information about him saying July, the July information. The interesting part is that we all heard July in some form or fashion, as was quoted multiple times. I haven’t mentioned about a good two two weeks ago. Who cares about the exact time frame? One of italic uterine was on stage or is talking somewhere. And he was. We’re still on track. Everything’s good. And everyone took that as an okay for the July time frame. So apparently, Terry Yttrium Theorem 2.0 is still being worked on. It’s still going to happen. But apparently the 30th of July that we all heard is apparently no. Anyway, I mean, I called it and I give it. I don’t even I I don’t even want to give a timeframe. I was going to say even for a Cardno, I give them around to July when they’re going to try and push it back once again. But I listen. I mean, at at at at at this point, it kind of is what it is that the fact that so many of these projects have lasted this long with this amount of delay is just extravagantly amazing. Let’s move on. Next up, bitcoins hash rate, the measure of miners performances appears to have dropped by about 16 percent after the third, having as miners now generate twice less from the block subsidy. According to the bloc’s estimates, the daily miner revenue has dropped by about 44 percent after the having from sixteen point one million to around nine million U.S. dollars. Most of the older ASIC mining equipment, such as the anti miner S9, is now on profitable. The new Djenne devices, such as the Anta Miner s 17 and what’s miner M 30? S remain a vastly profitable. The cash rate appears to be down from one hundred and twenty two Exxon hashes to one hundred and two over the four largest mining pools. Those, those, those and those pool and seems to have lost the largest amount of cash rate, approximately 30 percent, with the BTC dot com losing around 10 percent. This was to be expected. We spoke about this yesterday. The news that we had at the beginning of yesterday’s video was at the hash rate had spiked. I assume that was because everyone was like, well, let’s try to get more Bitcoin. And then they realise that the reward has been cut in half and it is more difficult to mine Bitcoin now. So this was to be expected. But, yeah, this is also passing around in the news a lot as a lot of people are. I don’t wanna say sensationalizing things. However, when you get a drop in hash rated any point, but it happens all the time whether Bitcoin has happened or not. It tends to make a lot of news. And I guess the news that we had before that apparently miners would start turning off their machines if it was not profitable enough for them to be able to mine Bitcoin, then here we are. The news that we also had a couple of months ago, about a month ago, maybe an exact month, was that I think Bitcoin has to be air quotes, I think above twelve or thirteen thousand dollars in order to it to be for it to remain extremely profitable for actual miners to stay in the game, as it were anyway. Yeah, that’s the Bitcoin news there was today. You may have noticed like a lack of price news. There was no price news nowhere. Not noting that no matter where I looked, there was nothing negative and or positive. The prices have relatively gone sideways since the having has taken place. No real ups or downs? No. What’s the word predicted drops yet and no predicted sky rocket things, at least at the moment. Yeah. Let’s move on. Next up, while trainees trades while trading Chinese yuan for bitcoin may technically be banned in China. That hasn’t stopped the country’s citizens from talking up a storm about cryptocurrency. This was made clear on Sunday when Sam. Mao, CSO of Block’s Dream, noted that according to data from Weibo or Weibo, which is that Chinese Twitter air quoted Bitcoin was a trending topic. This is the third time that this has happened the past two weeks, according to a screenshot of Weibo Ibos, the trending list from the 10th of May. Shared by Mao, a search term mentioning Bitcoin’s price drop was recently the 13th most popular term on the platform. This is noticeable as Weibo. Weibo is a platform used. I haven’t had no idea what to say. Use my literally. Wow. Four hundred million people monthly. Showing how excited the Chinese are about BTC. Here is a list right here. I do not read Mandarin. Therefore, I’m going to keep scrolling down. The popularity of Bitcoin in China seems to be somewhat tied to an article shared by the finance column known as CCTV. What the biggest television broadcast went on there. Their television broadcaster is called C.C.. Kind of putting a hat on a hat. CCTV is the predominant state owned television network in mainland China. They call it CCTV. The point is, despite the banning of trading within China of Bitcoin, it appears to remain very popular. We had news like this a couple of weeks ago as well. It wasn’t this guy from Block’s dream, but someone else had posted. I think that Bitcoin was the what was it, the second or third most popular trending topic in China? Four, 400 million is a lot of people for 400 million users just on this one app alone. That’s more than the entirety of the United States. That’s a huge amount of people. Can you imagine if we had a situation where on just American Twitter or American Facebook or American Instagram, where Bitcoin was the second or 13th, the most spoke spoken about topic in the entire country? That’d be completely insane. So I wonder what would happen if people in China had complete access to I mean, their government also knows that they can’t give them complete access because of things like this. Can you imagine what for? If Bitcoin had had become the number two trending topic, especially a news article called like Bitcoin price rise amongst 400 million people, these 400 million people would have at least tried to purchase a million. Satoshi is each at least, which would have definitely done something to the price anyway. Yeah. That’s the. We bo y bo Twitter number 13 news for today. I mean, it’s it’s it’s it’s it’s very unsurprising. This is why I keep mentioning Bitcoin’s a lot more popular than people. Believe or understand, a lot of times we kind of put ourselves in our own bubble, whether it be here on the channel or with our friends or community, what have you. We don’t realize that there are hundreds of millions of people around the world who are also they know the name Bitcoin and are either on the cusp of buying Bitcoin or already own Bitcoin. It is a quite the fascinating indeed. Let’s move on. Next up, with crypto currencies, there are no cash flow statements or balance sheets and investor can analyze to get a good sense of their intrinsic value. This makes it hard for a conservative Wall Street players such as Warren Buffett who analyze their instead nope investments and by discounting cash flows from dripping from dipping. Who keeps writing these weird words? And I can’t read. According to hedge fund manager Mike Novogratz, though, he theorems that dollar value is predicated on the concept of a network effect, which is an economic concept that the value of a network B that technology or money is predicated on how many people use it. Over the past decade, cryptocurrency is have formed market capitalizations in the billions and billions of dollars, according to Crypto Slate’s Coin Reinking Page. There are currently over 16 coins worth over one billion dollars and fifty five worth over one hundred million dollars. That raises the question what is behind these high valuations? How could projects just years old be worth so much? For those of you who want the answer, a lot of them are inflated completely in price. These coins aren’t being used. So when you see a coin where ninety nine percent of all transactions are happening through a weather app or another coin where ninety five percent of all transactions are happening just between two addresses. Hum. You realize that these things are the word fraudulent comes to mind. However it comes more down to these things are overvalued and should not be valued even over a million dollars because no one’s really using them for a theorem. At least it’s a simple network effect. Speaking on a panel at the ethereal virtual summit. The latest virtual crypto conference, former Goldman Sachs partner Mike Novogratz shared his sentiment with you, Theorem co-founder Joseph Luban. And for Cats’ News or Katz for four oh four forecast y. Spell it that way. Forecast the dots news g allow. He argued that he theorem garnering a 20 billion dollar market cap is based on a confluence of a different used cases on the block chain, such as decentralized finance, enterprise applications or stable coins, garnering a vast amount of users, which then creates a network effect that increases prices exponentially. This contradicts the belief that he theorem is only valuable because it facilitates ISO’s, which was a popular sentiment in 2018. He said one of the things for the theorem narrative is valuing the network, kind of like we do with Facebook. The more network effect you get, the better. Like getting Teather to migrate its coin. We theory M brings people using that to the network. Mike Michael Novogratz is a hyper ethereal and hyper bitcoin bull. This is actually I’m surprised it took so long for this to actually come to the light. If that kind of makes any sense. This is a major reason for the valuation of Bitcoin. Usually you don’t hear. Why is Bitcoin worth so much when you get the news that Bitcoin last year transacted over a trillion dollars? Eighth largest currency, what have you, so on and so forth. These these discussions kind of disappear because you understand that regardless of what anyone Warren Buffett, he might say about Bitcoin, we know that Bitcoin is being used as being accumulated, is being passed back and forth. People are being paid in Bitcoin, buying flights, a Bitcoin, what have you. But we never usually get this discussion for a theory. I mean, usually focuses around the idea that a theorem is only good for ISO’s NRD five projects. But it comes down to also if other people continue to build their stuff on top of you theorem and therefore ether in some ways being used or the ether theory of network is being used by tens of millions of hundreds of millions of people around the world. And therefore the network also have has tons of value. However, you can’t really do that with 15 transactions per second. So, yeah, I mean, it’s just it’s just a very weird and odd conversation because. When people ask me and have been asking before which coins I’m into when they are usually shocked that I’m rarely only kind of paying attention to a couple of coins, it’s because of that. It’s because we can mathematically see transactions going through the the Arpey ledger. We can see how many people are actually using Bitcoin. We can see based off of metrics that a theorem remains popular regardless of how slow it’s currently going, and also the companies and countries who are going to be building on top of it. But then you get into discussions. I’m not going even name other coins because I can feel the the the angry comments coming. These other coins aren’t being used. Their usage has dropped exponentially, has nothing to really do with the price. Price is a different kind of metric for people who are exclusively trying to invest in these things. When you get the actual usage of them, it pales in comparison to the top three. And I guess this is why they are the top three and subsequently why Teather is in the top four. Regardless of how many Teather are actually being printed, Teather is laid out across. What is it, five or six, seven different block chains and is being used actively on a daily basis. So in some odd apocalyptic way, it garners that position as the fourth largest coin. But then you get the other coins. They’re not really being used. Speculation is not a usage or talking about that. You’re going to be building a platform on top of them to be able to mimic something that he Theorem X, Arpey or Bitcoin is doing doesn’t also really garner value. So I’m expecting still at some points, a great crash, a great wave to wash away unworthy coins within the cryptocurrency space. That does not mean that a lot of coins that I am holding, a lot of alt coins will not go up in value. Of course, they are going to go up in value at some point because people will be able to push the prices up. The hype cycles will return. And at that point, I will be cashing out of a lot of them. However, as far as long term. Growth holdings. There’s a reason once again why institutions use you really are just focusing on two coins. It’s because other coins have to kind of prove themselves and if they don’t, they’ll be washed away and then they’ll be replaced by other copycats who also claim to be able to do the same exact thing. And that’s just how things go. Oh, yeah. Let’s move on. Next up, Weiss ratings predicts that the value of gold will increase once 19 is over, but says its upside pales in comparison to that of Bitcoin. According to the crypto ratings agency, the digital nature of Bitcoin gives it several advantages over gold. The traditional hedge against inflation. Government bureaucrats cannot inflate away the purchasing power of your gold like they can with Fiat. But do they can send in storm troopers stomping in to seize it? In 1933, the US president famously confiscated all of the gold in America. Well, that’s nice of him. Australia’s 1959 Banking Act empower the government to force private citizens to turn in their gold for paper. And the 1966 British labour movements made it illegal for any person to own more than four pieces of precious. What was wrong with governments? Don’t think stuff like this can’t still happen. Bankrupt spendthrift governments, especially when their banks are against banks, backs are against the wall. We’ll grab at just about any assets they can lay their hands on. Yeah, this is and that’s definitely true. Bitcoin is also more mobile than gold, argues Weiss ratings, because it requires costly permits and protection during transport. The same is true when it comes to storage. Gold needs a secure location, like a vault or a bank. But Bitcoin does not have the same requirements because there is no physical assets to store. Sure, it’s clear that Weiss Ratings likes Bitcoin. We’re seeing a lot of I don’t know why it why why this particular year, we used to see maybe thrice a year discussions as to the Bitcoin v. gold argument. However, this is like a like a weekly thing now where people are talking about the power of Bitcoin over gold. Maybe they’re just trying to get other people to understand. I don’t know. It’s it’s clear that Bitcoin has many advantages over gold. And at least in my eyes, that Bitcoin is going to. Incredibly outperform gold over the short, near, long, far forever term, being up nine million. If gold had gone up nine million percent since 2009, I would guess everyone should buy some gold. But it’s Bitcoin that has gone up nine million percent. So it’s clear that there is a, at least for me, a clear winner in all of this. Good job wise. Keep keep spreading the. The Bitcoin news, as it were. And to finish things off, she’s shaking his robot hand. That is the weirdest thing of it. Is he? OK. A researcher from the crypto asset firm paradigm. Has co-authored a white paper for a new decentralized finance or DFI lending protocol based with fixed interest rates. The White Paper for yield, a protocol was written by paradigms. Dan Robinson and Alan Neame. Berg, who announced the project on the 8th of May named Berg, also announced that yield protocol has received seed investment from a paradigm which will be designated toward building the initial version of the product. The theory and based protocol purports to introduce fixed term fixed rate lending and interest rate markets to decentralized finance. Those of you who do not know a lot of these. D decentralized finance protocols that give a yearly interest rates, yearly returns on your money. They have fluctuating rates like you would not believe. I have a friend who is actually into a couple of these things. He does side jobs. He breaks Web sites. He does all these things for companies and they pay him. I believe in. And Di D.A., I think he gets paid and die, I remember. Anyway, the point is he then puts that dye into other projects, which then allow him to get an interest rate. He was showing me some of the rates. Like some days it can be like twenty two percent. Other days it’s like for some days at zero point one. And that doesn’t really shine. I mean, nobody really wants to know. If you put your money into something, you want to know that you’re going to get a consistent, even if it’s just five percent is going to be a consistent five percent abody once twenty two percent and then a zero the next day. That does not sound fun. Yields white paper describes a standard for a token that settles based on the value of a target asset on a specified future date and which is backed by some quantity of a collateral asset while defies protocol like maker Dow have garnered significant popularity within the crypto community over the past years. The floating nature interest rates associated with these vehicles have proven to be subject to significant volatility. Yeah, here we go with with maker loans fluctuating between zero point five percent and 20 percent during 2019. No, thank you. This is why I think staking is going to be a very big thing as long as we have a a year long, if not a two to four year long fixed interest rate on some of the stake in coins. I think that is going to really take off. There’s no way that I want zero point five percent on my money. And then I have to hope that the next week or the next month is going to give me a a 20 percent, which would be great. But then if the next month at that is giving me two percent, then, you know, I, I can’t deal with all that emotion. So I hope this works out for them. I’m sure we will have eventually some type of a relatively fixed interest rate even in the in any traditional markets. There is never a 1000 Prosek percent fixed interest rate. You’ve seen the before your whole life. We have five percent, two percent, four percent. It’s though roughly ranges around the same number. But people need the word isn’t clarity consistency when it comes to their investment. So good luck to them. I hope that works out for them because I also think that Devi is going to be very big in just a matter of, you know, you got to make good money before you actually put your money into it. As always, a very special thank you to my patriot and supporters, Professor Walli from Gunbower University, Utopia. Five, six, nine. Yashar not a Moonman Hi X Arpey the pothead Joshua Vinyard Martin story or Tongo Lolo song go Lolo knows Bromo John starts in the animal reader a biblio phobia. Tomalis Adam Grayslake Mohammed Ronie Master Ventures in Thailand. Jared Schnieder Wild Night Owl to Fortune to the World Crypto Joe Bankroll Network Adobo Crypto Artist Cody 3D Nicolas Where on Earth one piece will love Damian set soon a Nick Kanigher Richie Rich at their Vlad the Impaler Praksis Nick Munjal Laborie Anthony Charles Jim Garner Jeremy Fox Minting Coins Miller Hitchhikes Every Day and Cowslips Leg Day Yes to crypto buddy make both face any time. Fitness amongst staff are medic seventeen bake me a cake Take a robot show Nyssa on crypto with LANL Crayola Michala you are Allen Hold on I have to sneeze. Thank you all very very much for your support. Thank you to everyone who is a member of the channel by clicking the little join button below. And thank you to everyone who has subscribed to the new channel. I am still very shocked. Thank you very much. I am happy for the the but the looks now. Wait, wait. Well the support support out of think. That’s what I wanted to say. But thank you for the support on the new channel. I do appreciate it a lot. At the moment the market is basically exactly where it was about a day or two ago. Bitcoin is currently up by one point three, six percent. Every other coin is down by point thirteen point zero, one point six six point two three point zero seven, neither here nor there. There’ve been tons of fluctuations, but we seem to always revert back to the same area, more or less where we were before. You have some anomalies with coins going up. Lumens is going up. Sure. SOS, Tron, Shaw, SOS. Did you buy it? I mean, I, I was going to make a joke, but it just doesn’t. You know what I was going to say anyway. Yeah. The markets what I think a lot of people were expecting huge spikes up or huge slams down or price is kind of being all over the place, but it seems to be neither here nor there. I saw an article earlier discussing that if Bitcoin does happen to pass by nine thousand and that I think it was nine thousand one hundred and maintains it for closing, I eat twenty four hours, give or take, then we could potentially see some movements upward in price. Yeah, I don’t know. Yeah. I really just simply don’t know. I do hope that you all enjoyed. I do hope that you all are having a great day. A great morning, a great afternoon, a great evening, wherever you are, wherever you might be. I do hope that it is absolutely fantastic. All of you remember. Of this year, if we get near the end of quarter to which we are current, where we’re at quarter to quarter to and we still don’t have any Theorem 2.0, we can use that as a reference point. Thank you all once again for watching and or listening. And I will most certainly be talking to you all soon. See you.