Bitcoin, Cryptocurrency, and Ethereum Update - (Monday 9th Nov)

back guys to another episode of box mining here bright and early here in hong kong 11 a.m to get some catch on the global cryptocurrency news so today we're at the ninth um already approaching so fast right this this month is going by so quickly it's um it's november for some reason right almost all the christmas stuff all the christmas like uh packages gift packages are up already so i mean that's that's christmas fast approaching but anyways regardless in the crypto side of things we had a eventful political week wrapped up almost almost so we could go up to looking at bitcoin and hopefully the global markets are like yeah come in come right in and that's been kind of the drama last week so drama last week we're trying to look at the election results it was up and down and then it was chaos but this week we're approaching the end of that right so we we in the 2020 ftx already has trump feb up but that's around it you know if you look at present 2020 ftx already wrapped up trump win and trump lose so that was already concluded so anyone who was holding trump lose tokens well they will be uh they'll become one dollar and anyone holding trump win tokens it'll become zero dollars um yeah so that's concluded so pretty much election results are done you know biden won and uh yeah the markets are going to react to that in like especially u.s markets that's going to react for that in roughly less than 12 hours so that's the kind of situation we're in i do see that you know it might take a hit on the stock market especially because biden's not as you know pro market as everyone else and we're talking about how everyone's looking towards in this unstable period especially when you're switching from sides um into gold and bitcoin you know that's that's the logic conclusion so gold also went up quite a lot actually um over the past few months um it's been a little bit crazy so we're in a situation where yet again in terms of crypto itself bitcoin recovered so there were many dumps that occurred on the 7th of november but you know moving up to the 9th today you can see that we're recovering very very well i mean it was on this huge offshore trajectory i mean look at that look at that i mean if you actually just zoom out for for a bit you'll just see that bitcoin has been on this continuous streak this year and something that's kind of crazy it's like um i saw this reaction on reddit i'll just show you guys um this right now but people were talking a bit who haven't been looking at bitcoin this is the guy's reaction you can see just the guy it's like he was just confused like what five thousand fifteen thousand what what what's the numbers here you know guys i don't understand i can't compute didn't i cover big point when i was like 15 i mean uh welcome to crypto land i guess welcome welcome welcome you know come here and stay for the the amazing crazy situation we're in so anyways that's pretty much it guys um before we start doing so so what we're going to cover today is we're going to cover a little bit about the markets some thoughts obviously now that crypto um is more at the center stage i mean last week everyone starts talking about elections crypto is more at the center stage and with the election results becoming a certainty a lot of people have heavy expectations for crypto and bitcoin and yeah so i me too i'm very very bullish on it um i will talk about some of a little bit of the bearishness as well so a few people were um they were kind of predicting a mini bart simpson a little bit stronger than we had before but we'll talk about that in today's episode we'll also talk about a little bit about news and catch up on everything that's happening recently before we start do i do want to tell you talk to you about everything that is happening around box mining so let's see take a look we have coverage of ethereum 2.0 the article is popping right now so if you guys haven't caught up in ethereum 2.0 this is going to be the biggest well change for a while so ethereum and of course all coins that people are talking a lot about all coins all queens will get their time to shine usually what happens is when bitcoin and ethereum moves up they move up first they're the ones that bring everyone into the market and then of course people start looking at all coins and that's when the all coin season starts yet again we've already had a crazy all coin season around two months ago i'm looking for a little bit more the second dipping second second little bit of dipping we got llama 6666 defi jumped already two days ago not not enough guys not nowhere near nowhere near uh enough i think that's uh second helping we need we need a bigger helping we just need a little bit more we skip bigger scoops you know so that's kind of what's happening around i've also made um this is something interesting that might interest you guys so this has become something that people requested to me they're like oh you know the box mining uh these live streams are getting a little bit too long so we have box mining clips so these are clips and shorter versions of the videos that we have already so this has just started like last week so you guys want to check that out it's got like kind of more shorter videos around five to seven minutes roughly like you got the market update you got the ethereum you got why china's bullish so you get these subjects coming in that's very specific and catered towards uh a single topic it just clips of this um this live stream but i think it's more kind of geared towards people who don't have that much time they just want to look at a particular uh topic um it is an official channel just i just set it up over the weekend so yeah check that out box mining clips and also i got my cool intro so let me do the intro right now yeah i mean i had i had to show you guys because i spent like a lot of time last week making that so yeah um yeah i'm learning i'm learning adobe after effects that's that's my excuse and guys by the way while i was here smash up those likes it really does help the channel um really really appreciate your time here and if you have any questions as well in regards to anything we'll pop in questions and answers as well in due course and due time so let's take a quick look at the markets right now so we have bitcoin sitting well above 15k yet again ethereum sitting happily at 452 crazy right crazy so it did fall it did scare a few people over the weekend you know what am i going to do here when it dropped but we recovered and they they recovered both for the same time and you can very clearly see a unifying pattern here like every single coin over the last seven days had pretty much exact pattern like went up dipped a little and it went up again why is that well because everyone's paying attention to the elections so it just turns out that everyone thinks that crypto is an asset group so they're just group buying these assets this is something that i really oppose to like i feel like bitcoin ethereum are so different it's like steak and i don't know what's what's better than what's just as good hamburgers right they're different things right they're different meals entirely all right maybe bad analogy but you get the picture it's it's it's way even more different than comparing apples and oranges sure the cryptocurrency they rely on different technologies but the use case and purpose is different but regardless the market doesn't care it's okay everyone just does everyone just views it the same so bitcoin has a strong rally and it's been having this crazy rally and we're continuing in again we haven't yet tested the 16k resistance line yet so yet again it's a situation where we're trying to push up we're trying to push up we're comfortably sitting up here where it kind of established the price i mean for a certain period of time you can see that from the 6th to the 7th november it was sitting happily at 15.5k these numbers are so huge it's kind of funny like you know talking about this i always i almost have the same kind of expression as this news anchor you know i've been covering crypto bitcoin since 2017 i'm so comfortable with saying yeah 1.5k bitcoin you know like that that was like kind of bringing back the memories right 1.5k bitcoin 2k bitcoin 3k bitcoin you know 15k sounds so weird 15.5k wow wow that's um that's kind of crazy so so yeah yet again we're at this point where we're trying to decide where to go next and this is a point where we can expect a little bit of volatility so my long-term view and my medium-term view is super bullish i'm super bullish on it because there's lots of instability in this market a lot of uncertainty and with kind of this continuation of trade war and whatnot having an asset that you can control yourself is extremely important that's the power of bitcoin right and it's like it kind of transcends there's so many reasons to have bitcoin whether it's kind of sending money online which is it's growing but it's it's there but it's growing but it's not the biggest reason i feel like right now the biggest reason a lot of people especially in asia are thinking about bitcoin is that it's an asset class that is not controlled by the government it does it's not affected by politics i think that's kind of the main key reason a lot of asians are buying bitcoin because asia there's a lot of uncertainty here with a lot of you know if you see what's happening hong kong i'm not going to comment on that but beyond hong kong we still have southeast asia where there's still uncertainty in thailand and and and kind of the surrounding area where it's very very politically sensitive and bank accounts can get closed just on a whim like that and that's why a lot of people are looking at bitcoin we say look look look look look i don't bitcoin doesn't care which well who i who i support where my money goes it just cares about whether i have my private key or not that's the that's the essence of it and that's what makes it so powerful in asia so i still feel like midterm that's my reasoning for it i feel like midterm the unstable period is still there the uncertainty is still there that's why bitcoin is becoming a larger and larger asset and top of that of course because more and more money is being spent and created out of thin air that's where bitcoin's rally comes from it's almost the same logical reasoning as gold short term though i'm a little bit cautious so i'm super bullish last week but i'm a little bit cautious of one thing where everyone on the market right now is believing that bitcoin's going to go up right this is like this seems to be like the overall thought and there has been this kind of analysis of how many longs are there versus shorts and there's a lot of longs right now on the market people believing it's going to go up people buy this long position on leverage and we do see that leverage is becoming a key key role in this space so with leverage longs there might be a situation where some one rail will try to hunt and destroy those longs so what we could see potentially right what we can potentially see is that we can see a potential drop so this this the famous bart simpson pattern right so people hunting for those short for those longs to just obliterate those longs right so liquidate those longs that's that's a possibility right now on the market so we could see we already saw one bart simpson you know i can kind of see that shape the spiky hair and then flopping down that might be one hunt it might be there might be a second hunt which is bigger that's that's one of the risks i see right now which is why i'm not taking a leverage position i have a lot of crypto already i'm not gonna no it's not necessary for me to take a leverage position at this current point of time so that's why i'm kind of patiently sitting here waiting we'll see if we can kind of establish some good support at this level and a move up for bitcoin and ethereum now the same thing goes with the ethereum so same thing i do think that it might be the case that some people are going to try to hunt for those longs and it's just purely a trading play right that's a that's a risk um a risk that we can take and some people and then maybe just try to hunt for that but that's the kind of the risk and then yet again i do feel that long longer term ethereum has been getting a lot of potential especially with eve 2.0 moving up the deadline or one of the deadline the time to submit the contract is towards the end um so what okay let me roll back a bit so what's happening with eve 2.0 is that eve 2.0 is going to launch and everyone has it's already launched the deposit contracts we're going to cover more about eve 2.0 this week so make sure you subscribe to this channel so the new videos when they come up you'll get informed about what's happening with these deposit contracts and everything but the key here is that people the the contracts are up for people to move from eve to eve 2.0 but of course but but but but but but it does take some time so we need a certain amount of ethereum and we'll need to make sure that the third amount is reached before eve 2.0 can properly launch and that's kind of what everyone is waiting for at the end of the day so lots of excitement there as well and yet again so i'm i'm very very optimistic i don't have leverage positions at this current point i don't feel like it's necessary um i thought i have the correct amount of exposure i want and then of course i'm also right now this week i'm going to look heavily at all coins too kind of interesting so i was reading this tweet right this week got a lot of um both views and this is from suzu so suzu is three arrows capital they're part of the singaporean guys the singaporean investors in defy they're the kind of like three arrows and we got offer zero x and we got all those guys in singapore that invested in d5 very early they got very very cheap coins early too so it's kind of interesting to see what they're saying in this space and suzu is very very positive right now d5 tokens might be the first tokens to actually not just memetically derive value from btc and eve going up higher the prices of native crypto assets higher tlv's volumes and the fees in d5 especially in the blue chip ones are already being widely used so extremely extremely positive from shuzu obviously you know okay they're gonna be biased right because they hold a lot of coins you got them very early on and they might be trying to signal or something but i do believe that this is the same thing as well i think that d5 it has licks it has licks because someone can just write a contract just like that and boom you know create magic and we saw that with a few of the coins like i think a lot of people hyping over the andre kronik coins again like both wifey got a mini pump around two days ago we got keeper as well a lot of people pay attention to that but the kind of the beauty of d5 is that right now we're so early in the game one developer who's very smart and crazy something very very useful and i feel like the next d5 wave that's going to come it's going to have to push for another objective too that's my current take on it so if you're talking about all coins if you're talking about d5 a lot of these projects are playing the same game oh okay it's false all right we've got total value locked again yes that's great but at the same time we need to have more and new ways to generate some form of something more interesting and i think that's kind of when i'm looking more at like synthetics when i'm looking at linear when i'm looking at kind of maybe something new maybe it's going to be something new that's when this week's all about this week i'm going to do a lot more research on what's going to happen in decentralized finance we're going to research this together as well if you have any suggestions as well to what d5 projects to look at especially if you have something new something exciting that might be the current play for this month so anyways that's that's my take on it um so yeah markets as well i mean if you look at the overall market um this wave we didn't see bitcoin and ethereum draining much from the rest of crypto so you can see that the d5 coins are moving up as well uh thor chain loop ring eva moving up it up again and then we have of course on the other side on the flip side of everything yeah it's not that big you know the losses aren't that big this entire 24 hours and same with the 72 days i mean you can kind of see that the positive is much greater than the negative at this current point so i feel like this is a situation i feel like still very likely that bitcoin ethereum they can make some major movements here after after the risk of a sec of the the long hunting that i was talking about people trying to liquidate longs after that is over it's very likely it'll move up that's how people make money traders try to screw each other over so that's a possibility and i still feel like there's a lot of potential in bitcoin ethereum this is why i'm still very heavily in bitcoin at this current point and once bitcoin has this rally so during the bitcoin rally we do see the alts drop a little bit and that's kind of what i'm expecting at this current point this is why i'm researching the alts but i'm not taking up positions at this current point it's yeah it's kind of funny but anyways that's that's the kind of way um it's out jerry brooks says big institutions don't have a won't have a choice catch the wave before you drown i know that they had these say this but and we've been saying this for the longest time but i don't think not having a choice is the correct way to look at it i think like um big institutions are coming in but it's still going to take a longer period we kind of we kind of seen that argument in 2017 where there's going to be a collapse of the dollar and then the institutions don't have a choice but to come in i do agree that a lot like it's very clear if you look at marketable strategy right they are the ones that really literally said bitcoin has trash in 2012 and it started buying up a position and now they have more than half a billion dollars in crypto right so that's micro strategy story they hated it and then now they have a huge bunch of it right so that's gonna happen i think institutions are gonna come in but i feel like the no choice but to buy crypto elements still different i think like realistically looking at it right now all right realistically real it like being real i think the smarter institutions the ones that you know they're a lot more aggressive they're a lot more tech savvy those are the ones that realize the potential they're gonna jump in then we have kind of the bigger institutions that are more safe right you know the the brookshaw halfaways that prefer coca-cola and uh energy and more traditional ones they're eventually gonna come over but i feel like it's still gonna be a matter of time so it's like the time scale for that might be 10 20 years even right that's realistically realistically like realistically bitcoin's only got a track record of 10 years so we we just recently like 10 like a year ago so maybe 11 years nearing 11 years now but just yeah just a few months ago we were celebrating bitcoin turning 10 right so that's the kind of the case that we have right now where um i feel like i feel like a situation where if institutions are tech savvy are buying it they understand it and then we're gonna need to solve some problems for them for custody and everything and that's that's kind of the phase that we're at there's going to be better custody solutions if you think about it institutions they keep other people's money so they need to make sure that it's kept very safe etc etc but long story short i feel like they're just they're jumping in and it's it's very apparent that it's they're coming in right now so okay um cryptograms is what price did paypal get in at 10k is that the institutional floor i would say if paypal actually bought hear me out people announced news right around 10 11k but very likely paypal bought before that there was no reason for paypal not to hold crypto right there's no reason for them to build out all this infrastructure without actually acquiring positions right so very likely institutions were probably acquiring very earlier um early on throughout the year that's very likely we see build cycles that are like half a year one year maybe one and a half years if it's a financial tool but very likely they accumulated in 2019 so when bigpoint was dead i would say that this is this was a time when paypal and stuff were buying i mean we saw some floors around like say 5k 4k we saw like we saw briefly 4k earlier on this year right so very likely that would be the institutional floor they you know institutions aren't just smart right when everyone's freaking out when everyone thinks oh my god it's over crypto it dead you know everyone is buying a dip right so during that downward spiral it was very likely that you know towards the end of the spiral institutions started accumulating then that's that's pretty much the case of whales too you kind of see that in this entire space right this whole space has been moving upwards for a long ass time and you see the people who make money are the ones that the dollar cost average when things are going down it looks doesn't look great you know people are freaking out that's when they start buying and i feel like that's kind of the case um and if we move up right if we move up this time it will also have to do a lot with retail hype as well it'll have to do with retail um going crazy yet again like 2017 maybe a particular country going crazy again like last time with south korea was absolutely insane there was a kimchi premium right i came to you feel about 10 15 where bitcoin was so literally 15 more in in korea because people just couldn't have enough of it they were just like crazy for it right so there's going to be a lot of fever i think right now uh we have to rely on maybe a different country than south korea to have this again i think like this time we're looking for okay who else maybe southeast asia where's kind of all the hype building up one of the reasons why it's like korea is still a little bit burnt from 2017 right this is why korea didn't really pick up um in terms of kind of hype and fever so that side's a little bit exhausted i feel like retail um is still going to be the main driver if we're going to see any major pushes to be honest to be honest right uh i don't got some great comments we got somebody saying michael is my favorite streamer in crypto tube and angela is easy pound from the south hemisphere's best moderator thanks guys thanks guys thanks this channel been doing great by the way moderators a lot of moderators do this uh moderating for free it's been pretty crazy pretty awesome for those guys for everyone here so big big thank you for the moderators also big thank you for all supporters of the channel we've been accumulating a lot of supporters for this channel i want to say big thank you to anyone who click the button down below that says you know support this channel um that's been great you get nice smiley faces next to your name too so you know thanks for all everyone who's joined this channel big big thank you for all the joiners out there as well so um llama666 says i thought we're the retail buyers and uh keep guys going before retail comes in i think retail they're the kind of interesting thing right and i talked to a lot of different people and a lot of people are still very suspicious so it's like we had this like um so i'll review a bit so we had this birthday party in genesis block right so one of the traders there i won't say names i won't point people out one of the traders there had a birthday party there and he brought his irl friends over and very few of them actually have crypto exposure so off like say the 12 friends that were there one of them would have actual crypto exposure the rest heard of it and i was like buy bitcoin guys you know buy bitcoin it's just just look at it okay look at it look at it be like you know like this this was at 10k by the way so this was roughly 10k i'm like look at bitcoin all right look at bitcoin you guys should really do some serious research into bitcoin like there's some major movements going on take a look and i feel like that's a situation like they they still haven't like bought much they're so apprehensive i think that's the thing with a lot of retail they they saw how it rolls up like crazy and it moved down like crazy they're saying this is great this is absolutely insane right but at the end of the day you know it's the best performing asset let's be honest here right if you if you accumulated bitcoin at 3k this year you would have made what a 5x 5x in a year like who does that like but bitcoin so i feel like it has tremendous power tremendous use case and it's just honest way to discovery of anything anyone who looks at bitcoin seriously you know i got that's what i'm saying i'm telling everyone like seriously look at bitcoin i think there's a lot of apprehension and there's going to be a lot of regret as well because i told a lot of people um about bitcoin early on this year as well i think at eight to nine k i was telling a lot of people and there was like i had some friends who are doctors and you know they're they're more stable-minded you know doctors and lawyers and stuff they they like their stable assets they like their properties you know as a hong kong fingering and i'm like dude take a serious look at bitcoin and you know check out genesis block if you want to do like fiat to crypto you know they teach you of everything there they can get help you get set up and then they had they take fiat as well if you want to have a good give cash or bank transfer in hong kong that's convenient but obviously they didn't buy it right so now i think there's going to be quite a lot of regret to be honest quite a lot of regret and there's going to be more regret coming soon too i mean it's pretty obvious that bitcoin has a very strong trajectory for it um i'm not going to say you know a lot of people online i've seen like 250k or you know these crazy numbers i think bitcoin is going to grow and uh it's going to have this like this is why how this is why hodl kind of works is because bitcoin it has these crazy swings and it it gets buried by the media too sometimes right bitcoin's dead yet again you know uh i was reading reddit today for my daily jokes and you see like the bitcoin graveyards um you know media tries to bury bitcoin all the time because they don't understand it uh they see it drops it's dead it's game over uh let me see if where's the bitcoin graveyard one um yeah this one rip mainstream mainstream media is trying to bury bitcoin every every day it's like oh for fuck's sakes guys this again that's kind of how kind of what hodl works in this space is just because you can iron out so that's why i'm saying you know like i'm still a little bit cautious about the current market because i'm kind of seeing if there's going to be another bart simpson before we can push up that's a possibility but yet again every time there's a bart simpson the media freaks out bitcoin's dead and then bitcoin moves up again and media is like what what again 15 15 15 what 15 000 what anyways i'm gonna stop doing that so anyways this week i am gonna look at so we got jpeg1 jpeg jpeg 18 hey there do you think is a if that right now is a good time to buy ethereum okay so this is a good question a lot of people ask me when's the right time to buy something i've been doing a lot of dollar class averaging i've been telling you guys look at dollar class averaging the bitcoin on its way up um for the past two weeks and to be honest guys i already hold a lot of bitcoin too right so yeah again not financial advice for if you're not exposed the best way to do it is a dollar class average the way the reason why is because everyone wants to buy the lowest and then try to write it up right um or buy on its way up but there's going to be a lot of volatility and which is why dollar class averaging works we kind of average out the price and then you can kind of ride out the wave of everyone else i've had a friend who was perpetually waiting right like when i first told her about bitcoin it was like what like 150 150 and then oh it's it's up a lot may i should wait till 90 and then it went up to 200 oh come on i'll wait till 150 again goes up to 250 i'll wait to 200 i'll buy i'll buy i'll buy it's 450 right now like literally when are you gonna buy right and this is why dollar cost averaging kind of works is because it kind of averages your position in so you kind of decide what strategy works for you and this is where it's not financial advice you gotta kind of plan out your own strategy you gotta be smart yourself and and that's important right don't listen to people there's a million people telling you what to do and that's the worst all right that's like that's like something i really hate in this space something like oh you know it's gonna go up to 4 000 low high probability low risk it's not low risk this stuff is really high risk but it's all about planning out your strategy right this is where you you gotta stop listening to internet gurus you gotta start thinking for yourself right i have my own strategy because it works for me and i've accumulated a crap ton of crypto over the past few years in fact like the best time to dollar cost average was also last year right i was preaching that non-stop on the channel but then that was time when viewership was actually low you know in the midst of 2019 no one cared right no one was like oh it's crypto buy it now bitcoin's a 5k it's a 4k everyone was like you're crazy you're a dumbass so dollar cost averaging works even at this market right now i still feel like we're on this trajectory up so yet again it works but you gotta make your own decision right alex numes says do you do do i buy btc right now you gotta buy you buy the dips it's hard to buy the dips too it's so easy to say it's a good time to buy the dips but then when the dips do come i think half of the people will freak out and be like ah is this over is this over bro bitcoin is this done um you know like can i catch the knife and it's it's both aspects are hard and you know we're ecstatic right now because we have accumulated over time and right now it's it's moving up quite a lot you gotta plan out for yourself and that's just kind of when you know your your dca kind of works all right when to buy the question is when when every time is when when is dca guys dca dollar cost averaging beans being and that's very likely what like we've seen that as well like institution wise um the big money because uh you know recently i um i just got brought on board and uh i'm part of i'm a strategic advisor for genesis block right now so this is a bitcoin education center and it's a big place center in hong kong they deal a lot with um they do oTC so they deal with a lot of institutional clients and i always ask them like okay you can't tell me reveal what's happening with the clients themselves but generally speaking what's happening right and institutions dollar cost average too it's like they don't just say oh look it's a dip let's buy it and speculate right if they say we're going to take a position on x y asset we're going to have a strategy to dollar cost average and just time yourself to buy and that kind of works right so these awesome powers is dca sunday a.m before sunday before a.m that's actually a pretty good strategy we can sometimes we have like these dips so having a dca on a weekend works i mean there's also even these like intense strategies where people just like set a time okay like look at this time regardless i'm going to buy a portion and that's kind of it's like all these strategies actually work because they kind of iron out all the kinks and trades the problem with the trading right now is that it's extremely volatile due to the whales that can move markets up or down that's why you have these sudden spikes right that's why all of a sudden you have like this spike down you have to spike up sure you can try to catch it at 14k but i bet you when i was dipping at 14k i bet there's a lot of you out there who are freaking out thinking oh my god if bitcoin is um i bet like you know we speak from from um like if it was here right let's say if it was here like let me just move this here if crypto was at here right would you really buy like let's say let's say you just see this candle right here like oh my god it's dipping like crazy do you like there's a lot of people who at that time would be saying oh it's gonna go to 13k again it's gonna go into 11k oh my god i'm so bearish right there's 100 chance that at this time people are gonna freak out and not gonna buy the dip right and then oh boom okay okay all right oh that was the best time to buy the dip that's how human psychology works right and why kind of like all the experts dca is that you go to the to the people who trade bitcoin right you go to the bitcoin meetups you talk to people who trade and people who actually do have a lot of funds like i know a lot of whales and they dca a lot it's just be that's just uh yeah dca cuts out emotions that's kind of the strategy so uh my two cents on there so like i wouldn't ask okay if this is this is the perfect time to buy like the better strategy would be like what is a good dca strategy like what works for me that's kind of the best best questions to ask at this current part of time not financial advice of course all right so that's pretty much concluding um today's what i have prepared for you guys today and it's actually it's actually a shorter episode so much shorter so yeah there's still a little bit of china fun it's not it's not the end yet um i think this week will be a time when everyone refocuses back in crypto last week everything was just dominated by election news and i think personally i was just like oh my god i now i understand why i don't look at politics there's a there's a period of time where i just like block politics out and only looked at crypto because politics is just exhausting right especially if you look at all the hong kong stuff it's just gonna be make it it makes you so upset like like there's a period where you can go into a serious depression if you look at all the politics that's happening around you and uh i just like consciously said you don't know uh i'm gonna focus on crypto let me make my money first right and then i then then let's talk because politics is all talk right so just blah blah blah people are talking okay this and that you're not gonna change anything right like that's the truth of it right it's gonna just divide your family it's gonna cut your it's gonna cut your divide divide you and your friends you and your family you and your restaurants that you like you and everyone out there because everyone's got a political opinion but you know i'm just like just keep it to yourself guys you're not gonna change anything just make a bunch of money and then you can change stuff right when you have a bunch of money then you can change stuff because then you can hire politicians because you you can complain about corruption all you want but at the end of the day guys like let's be honest here they're all corrupt right they're all for hire they're not they don't make that much money a president of the united states makes how much a million dollars per year like honest president president president uh south salary i'm serious all right no no no no wait wait wait wait wait no it's even less than that um list of salaries of government heads of state all right we got we got this but how much president makes right yeah yes not not even a million dollar 400 400 000 what is that right yeah that's like less than 40 big point that's like 30 bitcoin per per year really really guys like really like do you think they can survive a 400k like come on come on i i was like oh i was like saying oh maybe they make a million no no they don't they make 400 000. like that's a joke i mean come on we're in crypto we know we know we know that's like nothing right so so at the end of the day like politicians are for fire that's that's that's the truth that's truth that's the truth so yeah um low low a million idiot no not a million just say less than that less a little bit less a little bit less a little bit less so so let's be honest here they don't make a lot they don't make a lot not at all like especially if you look at these crypto salaries a lot of crypto salaries i know i know ceos who are paying themselves more than the presidential salary let's just say that um yeah and then we've got nick miles says when things go bad i mean 2020 is a total mess crypto goes up thanks nick thanks next did you really rig the elections again with this running joke in our channel where nick because he's russian he's always rigging elections or something like that anyways guys that's pretty much it for today i would say um you know um mondill 8 8 i think you should outline some dca strategies in general in more detail michael it's kind of funny um so i had to talk with the genesis block guys i i i you know i visit the center a lot and you know they they get exposure to a lot of clients and a lot of people ask them these same questions and and one of the strategies that we really thought um kind of works very well especially um is either the weekly or the monthly dca strategy if you have a long-term goal some people take the like one month every month decide how much they do want to do it and split it over like 12 month period right so this is for people who are you know they want to play more safe um they're gonna they know they want a position in bitcoin they know it's valuable and they're looking at like this is like something like the 5 10 15 year horizon and that makes sense right now um especially in crypto like it's highly volatile but it's not gonna die anytime this year people think it's like people have all these misconceptions right and for anyone who has a lot of misconceptions the one month one works for me i think personally the weekly or the every two days during a period like for me what my strategy is i identify a time when i want to dca in and i want to dca out that's kind of like the the bands i'm at and then i decide um so so the first the the first i look at direction right if it's going up like right now i'm gonna switch to dca like dollar cost average sell very soon because it's going up right so i can just sell at certain amount of times i know it just sounds i i know people are people are gonna hate me for this but yeah switching to dca sell makes sense if you identify okay look it's going up you sell if it's going down you buy it right that's the kind of strategy so yes right now we're pushing up but i haven't started yet like i feel like i feel like there's a little bit more potential to go before dca sell starts before the election i was dc and buying in and that was over every around every two days like every two days i'll spot an opportunity boom buy a little bit in and the worst part about that is like it's so convenient now it's the best and the worst part it's so convenient now like sometimes i'm like shilling bitcoin hard i'm like oh you know what i'm gonna just buy some more and i'm showing it to my friends i'm like yo bitcoin is really great you know what and it's like privately in a corner okay let me let me buy it buy it buy a few right uh that's that's guilty confessions right there so that's kind of how i slowly dca'd over the last two weeks so now i'm kind of looking okay look um starting to think about dca selling out um a little bit but haven't started yet so that's kind of the the thinking at this current point so depending on what strategy works um i'm not sure if that's a lot of detail for you guys and how it's going to work um yeah dollar cost selling yeah it's just it's regardless it's dog plus averaging it can average a sell or it can average a buy right and that that works quite well um like you just identify which band you're in and um that worked really well like dca back um into crypto in 2019 i actually did dca sell a little bit in 2017 which is why i'm not broke um you know so yeah that's the strategy show yourself matt r says you showed yourself bitcoin yeah that's the way it goes man that's a good goal um abe says fiat will die before crypto dies that's absolutely true and it's kind of funny like in hong kong especially right now um um it's kind of funny because hong kong loves property right but property is like like it's such a big investment like it's so hard for for me to enter right now like you're thinking about it it's gonna like the moment you acquire even a small property like even small flats in hong kong go for a million us or two million us all right even you acquire that like it takes such a big part of your portfolio makes zero sense whatsoever right it's just so volatile right now especially with kind of the the political uncertainty i'm like no man that's you want to have an asset that goes up when politics gets crazy right like because there's only one way for politics to go right now is to go more crazy i mean 2020 is a crazy year and uh i feel like it's just the beginning for this stuff i think it's there's going to be more escalation we'll see we'll see how it goes but i don't really believe that the world's going to de-escalate and all of a sudden move back to normal like i wanted to be like that but deep down inside i kind of know it's it's going to be hard it's going to be hard uh zombo breaker says these presidents don't need that money they're doing it for the power absolutely they're doing for power but also like you know where they're going to get the money right they're all it's like you know trump's going to make a killing from being president you know it's just the case right like trump was pretty honest i think like it's like very clear that he's going to be trump first america second world number three right that's kind of how it works um you know that's pretty much the same with every politician too um i don't believe for a second they don't they're not gonna use their power to become more rich gain more assets um you know bully around people with money and so more people money give them money right that makes a lot of sense right um anyways um that's pretty much it um no gain tax in hk absolutely that's the best part about hk uh tay international system the prc control all property in hong kong now now people still own a lease on a lease on a land world opedium trump lost massive network by being president massive huge huge that's the correct word to use huge but no i think i think he gained a lot i think he gained a lot i think um his family assets increased i think that's how you play it like um kushner and everything like i think that's how you that's that's the way that's the way it works right like then you presidential pardon a few people that's the way it works that's the way it works anyways i think that's pretty much it um 40 percent gain tax on capital gains good enjoy that have fun um you know enjoy uh anyways oh so tired man i'm like i'm like today is crazy because like yesterday i finished eating around like around seven so it's like i'm doing this intermittent fasting thing right so i'm kind of closing down on the fast day eating window it's brutal it's brutal i wake up and it's just like you're so drained so let's have to see like i'm still trying it out i'm still this is my week three of intermittent fasting i'm losing a little bit of weight though i think i lost a total of one kilo it's not a lot to be honest um i'm like i'm like hoping for more but it's just it's not happening it's not happening dollar cost auto so yeah so so i think that's my life story of my life been shopping quite a bit recently too um i took we weekend is also retail fear therapy yet again um yeah i just bought a lot of random stuff like i don't even soap i don't even know why i bought soap i'm like wow this is like it was on sale all right some weird soap and um as i was looking at nike react shoes um yeah just like nike store is my favorite place now i think um yeah retail therapy works and i also bought the new iphone that's great um over the weekend i was like that's like something like you kind of hate now like you know apple hypes all this up then you have to wait to book that crap and then you have to fight for it right like at what point do i say look i've had enough i'm going to try this once i'll tell you guys how it goes so i bought the iphone pro max or whatever so it's going to be released i think on the 13th um and apple is going to do announcement on tomorrow right on the new mac so i'll tell you how it goes i'll tell you how it goes um i'm i'm kind of like i'm kind of in the middle i want to switch back to iphone primarily because my samsung's getting really slow i actually have that iphone here but um so i have two phones right so i have the s10 i have the iphone x um i think it's really slow for some reason i don't understand why it's a good situation where like you use this for two years you don't format it if you don't format it you just keep everything the same you install chinese apps on it and then it just dies it just literally it just like it just slow as hell it's like like you look at the ram usage and you're like what how how is it using up seven gigabytes of ram like how like sorry i'm just complaining about android it's mostly i think not because of androids fault it's mostly because of how toxic chinese apps are like just sometimes like you got you install a bunch of wechat your taobao's your i don't know your jd is your taxi app and your bunch of other apps on there and boom like your phone's destroyed have a nice life apple's a little bit better because they have like a more kind of like a draconian apple policy so that's why i'm going back to apple like my next phone i'm gonna try try going back to apple again see how how that works and we'll see we'll see we'll see um waiting for sc plus max plus largest yeah i'm exactly i i ordered the iphone 12 pro max whatever it's called like uh so yeah that's the that's the case and and the worst part is like llama 666 maybe trading an iphone for iphone 12. i don't ever trading phones okay reason why it's because i have so many wallet apps on there i'm seriously afraid of one day just like trading a phone and realizing oh crap like there's like a wallet there that's got like money inside it's got like maybe like four eef right or five eef and then eef goes up and you're like oh no oh and that happens right because like sometimes i test a bunch of wallets i put a bunch of like crypto inside and i forget about it right so i think like that's the hardest part and that's why i keep all the phones i buy like there's a stack of phones here actually have another one here um this is another android by the way so i have a stack of phones like every time i try a new phone you have to keep it it's just like it's like a rule now like i like like you're gonna have to see a stack of phones on my table very soon so that's yeah that's a problem i've got problems okay i got problems i got problems tech problems all right um but we'll see smash up the lights guys um worldopedia says good strategy not giving a phone that previously has sensitive info on it exactly you don't want to give like the wipe works but sometimes you don't want to wipe a wallet out right like there was just once right this is stupid ones i just just once i had a wallet with this point on it and it was worth like a hundred at a time and then it went up to like 10x right and i lost that phone i'm like all right anyways stories of my life don't get wrecked but anyways um and the the harder top part is like the safer the wallet you store on okay this last rant the safer the wallet you store on the less it migrates right they don't use the cloud to save that information so the information is always saved on the phone itself so yet again you don't want to wipe that anyways guys thank you guys so much for watching this video so ending this video we have quite a lot but i think i have i've recorded a section to talk about it so that's a great thing so i'm going to play that section to you guys um i hope you can catch up with everything around here also just join me on discord we have quite a lot of discussions on discord um box mining 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Thank you.