Bitcoin and Cryptocurrency Update

I'm just waiting for YouTube to respond to me right here. And we should be ready to go. But it stays this green. It stays in excellent condition. Ready to start the stream. We are live, guys. So, guys, welcome back to another live stream episode of Box Mining, where we take a look at what's happening in the Bitcoin and cryptocurrency markets, the latest news affecting this space. We also had this weekend a pretty big scare for a lot of people. There was a point where Bitcoin prices did dip below $9,000. A lot of people were freaking out about that. But at the same time, I feel like, at least in the crypto media front, there was a bit of an over coverage of those events. We'll take a look at those news today. We'll take a look at the technical analysis of where people are expecting us to go. So we're prepared in either direction. And we'll take a look at yield farming. Yield farming has become one of the hottest phrases this few weeks because a lot of people are saving up their cryptocurrency and even their stable coins in decentralized finance, DeFi contracts. And it's interesting. It's interesting. That's my current take on that. So, guys, big shout out. Big thank you to all our members who joined this channel. Bernard Macarius. We got here, we got Galinda Juliana. Sorry for butchering your name. And big shout out to everyone who come in. We got across Canada coming in and the live chat as well. So, guys, if you want to join a member, it's quite cheap. I think it's $1.99 per month. It's not very expensive. It does help out this channel. And you get access to exclusive content, which I'll be making a lot more of throughout this month, including episodes like how do you make or how do you get more privacy on Ethereum. And that doesn't include a mixer. So, some really quite interesting videos that are members only. And I'll be making a members only playlist as well. And big shout out to everyone who's on the live stream right now. Really, really glad to share this moment with you guys. And if you guys haven't done so already, make sure you click the like and subscribe button. We'll see you guys there right before I tell you about my podcast. And if you guys want more updates on what's happening, we got the podcast Bitcoin out of the box. Definitely that photo definitely doesn't make me look like a scammer there. But anyways, we got the new season, season 3, coming right up right now. The latest episode is with Sash Gopital. He is a fellow content creator, co-founder of AllCoinBuzz. They have over 200,000 subscribers on the channel. He's been ridiculously successful investing in AllCoin as well this year. And we'll talk about some of his strategies and what he thinks about all this like 100x mentality going on. The podcast is available on Spotify, Apple Podcasts, anything you name it. You can listen to it on your go, in your car, if you go anywhere in coronavirus season. But it's there and I'll put it like down below. All right. That's also that always gives me some time to set everything up. And man, guys, have a great weekend. So over here, it's already Monday. I'm having one of those Mondays where it's just like you don't really feel awake at all. I don't know if you ever have those Mondays where it's like you just wake up. You feel like you haven't gotten any sleep. Yeah, I'm feeling one of those. And luckily, I'm switching out my drink this morning. I got a Coke Zero, Coke Plus. I'm not sure if you guys have that. But these things always wake me up. They're incredibly dangerous. Well, not dangerous, but they're so addictive. I always hate getting kind of used to one of these. But today, I think it's definitely one of these days where you just need a Coke Zero. Not promotion, not sponsor in any way, but it's just one of those days. A lot of good mornings here. Tell me where you guys are from. I'd love to hear where you guys are watching this from. I've been doing this stream for, I would say, like two, three months now. Consistently on a Monday and Friday, 11 a.m. Hong Kong time basis. But we're all from around the world. A lot of people I know, they're still resting on their Sundays and just having some relaxation time. It's always like here, we're always kind of like a little bit early on. Like Asian markets open a little bit earlier. So there's always a lot on Sunday mornings to get through, especially with the traditional financial markets. They open up and sometimes they have to respond to fear, uncertainty, and doubt FUD over the weekend. And that's crazy. But Angela Wine says, I'm so tired too. Glimbert Juliana says, I love the cherry Coke. Man, I wish I had cherry Coke here. It's one of the things I do miss. In the States, you get cherry Coke. And it's like, oh my God, that's so good. And they have cherry Coke Zero as well. It's amazing. But over here, we only got just this normal Coke Plus. That's it. I mean, the Plus is, I think, it's just advertising term. It's just like they put some fiber in here. It's just technically Coke Zero, but with like fiber. So you poop better. But Ease is Australia. Australia. Australia. I would love to visit Australia sometime. Dennis Mott says, Bahamas. Wow, that is a nice place. I would love to visit Bahamas sometimes. Pan Albers says, Malaysia. Man, that's one of the Southeast Asian countries I've never been to yet. I've been to, a lot of my friends are calling me to try to go to Penang in Malaysia. I heard it's just amazing. Food there is excellent. Man, I just miss traveling these few days. Not few days, few months. Because obviously with the quarantine guidelines, especially in Hong Kong, if you'll ever leave Hong Kong, you have to have a mandatory two-week quarantine. And that's just brutal. Like the police check on you to make sure you haven't run out the house, etc. So it's nasty right now. So I just hope the whole coronavirus thing is going to, I hope it's going to end. That's my two cents. Anyways, let's jump into crypto. Let's see what is going on. And pretty much, I would say nothing. So we'll take a look. I mean, in the past 24 hours, we did go up. And that's because we had the scare over this weekend. So they're scared that suddenly Bitcoin is going to dump. And we'll explore that in a little bit of detail. But beyond that, honestly, in the past 24 hours, not too much has changed. I mean, we still have the DeFi coins like REN up on the top. We have Celsius also on top. Lending Platform, Matic, Nervos, Energy. Balancer is still alive. That's good. So we're still in the midst of the altcoin season. And in many cases, the altcoin season is starting to resume now, especially after the Bitcoin fear is over. So right now, Bitcoin is pretty much choosing to do the most unexpected thing, which is just nothing. That's pretty much summarizing the whole Bitcoin, Ethereum, the top cryptocurrency situation. We're just like, you know what? We're just going to sit here and just do nothing. And this is something I actually talked about in January. One of my predictions in January was Bitcoin is just not going to move. Everyone's going to expect it to dump. Or maybe people think, oh, the next bull wave is coming. It's going to pump. But Bitcoin is just going to be like, I don't care. I don't care. It's going to sit here and watch. And that's exactly what's going on. So taking a look at the markets as well. I just have to make fun of this. So recently on the news, it gets ultra sensational. So we got this article coming through on Bitcoin.com. Bitcoin price.miner starts selling 9,000 possibility of a bear cycle. Oh my God. It is going to end. And this was one of the main fear factors for all this entire week. There was talk about the contracts expiring very soon. There was talk about plus token. There was a risk that plus token holders are going to sell their cryptocurrencies. There were various attempts to try to fud up the entire market to try to make people believe that Bitcoin prices would dump all the way down. And it did for a momentarily, right? So let's take a look here. So roughly on the 27th of June at around 8 p.m., we did dip below 9,000. And all of a sudden, every Twitter exploded at that time. Literally everyone was making these massive predictions. Oh my God. 6,000 incoming guys, 7,000, maybe even 3,000 incoming massive dump coming on Bitcoin. Watch out guys. Warning, warning, warning. That was so, so hilarious. And then, and then after around 12 hours afterwards, people just retracted all the statements. You'll see like a plenty of deleted tweets of delete, delete, delete. Okay. Okay. Okay. All right. All right. Bitcoin's back. Bitcoin's back. Guys, guys, guys, guys, guys. Panic's over. And then now we have news of this FOMO pump. Oh my God, guys. Bitcoin, new Bitcoin model, X suggests exponential bull run in the next one month. Oh my God. You got to get in bull run coming guys. Oh my God. We got 10K, 11K, 12K. Jesus. I mean, this is an issue right now. Bull views are extremely polarized and met and traders tend to adopt either the bull or the bear view. And these kind of news articles really cater for that. So we've seen cases where I would call out Cointelegraph for this, where they would talk, talk, you know, they'll have a bull article and a bear article being put out on the same day. And this is really to target the Google search algorithms. It's, it's just the way how media is built up. I mean, there are plenty of issues, plenty of blame to assign. But the way it works is that if you search one direction, if you say you search, Bitcoin is going to dump and you believe you're, you're a bear. You believe Bitcoin is going to dump. Google is going to constantly serve you news that caters to that philosophy. So it's like, it's almost like we see what we want to see, but Google just makes it even worse. In a way, Google just serves articles that you want to read. So they know what you want to see already because they're from our search history, from our, our tracking, don't know exactly where, where you stand, whether you're bullish or bearish. And then they'll just flood you with the same articles. And that's what exactly Cointelegraph is catering for. Cointelegraph has both articles on both sides and they'll cater to both these audiences to keep them entertained. And that's, that's life guys. That's life. It's something we have to deal with. So at a certain point, I just like, I just turned that off that the best way to play this game is just to exit sometimes and just feel like, okay, look, I'm aware of what's going to happen. Right. We, um, if you look at the short-term view of this, we've been sitting in this channel for a long period of time. Yes, we did touch the bottom of the channel, but the bears couldn't break down. They couldn't break down to previous supports like 7,000 over here. So, or even 6,000 or 3,000 or 5,000. They couldn't, they couldn't break. They couldn't break down to those support lines. They couldn't break down to those support lines. There was, there are attempts to do so, but that kind of failed. And we're still in this channel. And if you look at the very, very big macro view of what's going on here. So the much wider channel beginning from around April, June 19th, I'm have these giant arrows here. It's very distracting, but we're at the top of the channel here. We have a downward trend that was going on. All right. And even if you want to draw the bigger triangle, you can draw it from the last 2018 bull wave. But what we have here is that we're still at the very top of this downward trend. Yes, we could potentially, if we want to break this trend, we can go above, try to explore territory in the 12K, 14K, 16K region, just kind of break that, go out, break out, or it can just fall back down. And you see that the bottom of the channel here is around 3000, which is why some people are typing in the 3000 here. And it depends on which view you're going to adopt. But the, the beauty of, I think trading is, and I think this was described very well at any moment of time, the bulls and the bears are matched. It sounds weird if you say like that, but the prices are dictated by the market sentiment and there are people buying up whatever someone else is selling. It's always matched on both sides. Otherwise the prices are just going to go down to, to match those prices. So, so at any given time, the, the number of money placed in the book, people feeling bullish and money people, amount of money people feeling bearish is the same. So in that sense, this is why articles try to cater for both ends of the trade. It's just not, it's not going to be a one sided. If it's going to be a one sided, like the overall, everyone feels bullish. Then the price is just going to dip. That's just the way the market free market works. So anyways, we're at this point, um, where there were attempts. And, uh, I think this tweet summarizes the best. I'll, I'll put this. I'm just going to go to Twitter. I'll show you guys this. Why does Twitter constantly lock me out? I have no idea. Anyways, let me, let me go back to Twitter. Uh, Oh, Oh, And that's exactly what happened this weekend. Uh, Oh, Oh, Oh, Oh, Oh, Oh, Oh, Oh, Oh, Oh, Oh, Oh, Oh, Oh, Oh, Oh, Oh, Oh, Oh, That was one of the means from 2017. I don't own the clip, but I found it hilarious. That's exactly what happened on this weekend. There was an attempt where, uh, prices fell. I'm sorry. I'm going to, we closed the volume down here, but yeah, there was an attempt. There was definitely an attempt to trigger people to panic sell on the weekend. So, uh, you can see that very clearly here. There was a giant, giant dip. People panicked, freaked out. Oh my God. And then we kind of picked up on the market here. So yet again, Bitcoin, we're on the bottom of the channel still. I think there's still a lot of fear at this current point. But I think the plus 1% on the weekend made a lot of people feel at least a little bit safer to explore what is going on. Anyways, guys, so long story short, there is risks on both sides. Personally, what I'm doing right now, I just thought the cost average. That's what I'm doing at this current point. I feel like there's a lot of potential for Bitcoin to go, especially after the recent cases where the feds are just printing money endlessly. That's not going to end well. That's just a case, right? I mean, it's like the writing is on the wall already. People just don't know where to go. And one of the ways to go is for Bitcoin. And I think that is one of the strongest arguments right now for Bitcoin is that it is detached from the traditional finance system. There is no Bitcoin money printer that goes and endlessly prints out Bitcoin. We can print out new coins, but not Bitcoin. And that's one of the essence of what's going on. So my two cents, I'm dog class averaging in at this current time. And I feel like on my trading account, I did tell you guys I have a trading account. I've been pretty much on hold for trading on Bitcoin. I just feel like the activity there is minimal. You're exposed to risks on either side. And even at the current point, move contracts, which is something I've been talking about. So I've been talking about FTX move contracts for a while. I was looking at that for the longest period of time. But the problem with move contracts is that right now the premium is quite high for them. So this one is going to settle at the end of the week on Friday. And the cost for one move contract is $380. So if Bitcoin prices settle at the strike price of $9,123, the move contract will settle to zero. So you're paying quite a big premium, especially right now with the prices just sticking around the same. You're pretty much risking quite a bit. The good thing about a move contract is that if Bitcoin massively pumps, you're going to get that pump. So if it settles, if on Friday it settles at, say, $10,000, you're going to get $900. If it settles at, if Bitcoin pumps all the way to $12,000, you're going to get $2,900 for that move contract. And also if the dumps as well, if it dumps to $7,000, sure, you're going to settle to $2,000 yet again. So it doesn't really care which direction it moves. You just benefit from the gain. But right now I still feel like personally, right, personal, not financial advice. I feel like it's still quite expensive, expensive premium you're paying for. The upside is there, but I feel like Bitcoin just wants to sit around. So that premium, I haven't been playing with the move contracts and the volatility indices, at least for the time being. I feel like, wait for it, wait for it. Bitcoin is patient and we got to be patient as well. So now talking a little bit about the altcoins going to the altcoin space. Obviously, we're still in the middle of this altcoin season. It's been going quite a little bit crazy. People buying a lot of DeFi tokens. That has been the overwhelming sentiment in the market is that all of a sudden this market started discovering DeFi, especially with the launch of Compound tokens. Comp tokens. That shot up like crazy. And this has led to a wave of people trying to jump on the DeFi bandwagon. So Comp itself, it jumped from $60 to right now $200, mostly because of a Coinbase listing. And a lot of the reasons why it jumped up so fast is because there wasn't actually much liquidity in Compound as well, especially towards the start when it listed on Coinbase, it wasn't trading that much. So just to let you guys know exactly what is happening. But that didn't stop the interest from just blowing up. So Compound clones and Balancer curve, they all popped. Even other ones, I think the most funny one example was DMM slash DMG, depending on how you want to call it. But that project claimed to have a Coinbase connection and then pumped and tried to really unload their coins. And there was, to a certain point, I felt like, man, this is like 2017 again. People were getting scammed on the Telegram channel. Like I was like, people were like, there were scammers essentially posing as admins, giving fake addresses for the ICO. And then people were sending money there. There was like 40k being sent there. And I was like, this is exactly 2017 all over again. So there was a little bit of that this weekend, last week. But this week, that's kind of like stabilizing a lot. I will do a segment right now on field farming. And it's been one of the most interesting topics for a while. And I touched upon this with the video on Comp. Essentially what EO farming is, is you're trying to take advantage of the current incentive structure. Right now, a lot of these new DeFi platforms, they're offering heavy incentives to get into various cryptocurrency projects. And as a result, those incentives are pretty lucrative. And people intentionally farm and try to get in on that. So if you haven't watched the Comp. Comp. Comp. Comp. Comp. Comp. Comp. Comp. Comp. Comp. Comp. Comp. Comp. Comp. Comp. Comp. Comp. Comp. Sat. This is the crazy Defi compound video that I did. And this explains exactly what is going on. There are much more sophisticated routes that are being discussed right now. So, with compound itself. Let me just give you the calculator as well. Let me see where my calculator is. So let's just give an example of yield farming. Let me open up compound as well. The quickest way to explain it, obviously, is, okay, let's say, for example, if you have some USDT, you can get 2.69% back per annum. So the rates are already quite low. When I did the video, it was 14, 15%. But a lot of times, you're not just after the rewards. Let's say you just deposit $1,000 there. You're going to get 9.89% back because you're going to earn compound over time. So it's an incentive structure that they set up right there. So not only do you get the 2.69%, but you also get compound tokens over time. And that compound token would overall add up to a 9.89% annual yield. And people take advantage of this. So people are trying to take advantage by getting out loans. So one thing that's quite, I would say, that's still pretty good right now is BATH. So if you have BATH and you want to save it up, you're actually getting 49%, which is not bad. Not as good as the 100% two weeks ago, but 49%, that's not awful. That's pretty all right. What people have been doing, obviously, is they've been min-maxing that, maximizing this, and going through various platforms. Like, for example, Curve, you have various pools you can join. So I've been looking at this over the weekend. The Curve, the Y pool is the one that I was looking at. Let me go to the main page here. I'm going to go home here. So Curve. So these are the pools you can join. And I'm making a video on liquidity pools very soon to explain what's going on. But there are various pools you can join, and some of these are incentivized. So, for example, the SUSD one is probably the most incentivized right now at the current point. I did join the Y pool over the weekend just to test it out. The issue with the Y pool is that when I joined it, it was offering around 40% APY. But now it's around 5%. So it's not very lucrative at this current point. You're supposed to get tokens over time as well. I'm exploring these incentive structure where not only do you get an annual percentage yield, but you also get more tokens. And there's more token paths with Mentor, with Symphetics. And that gets quite crazy. So the upcoming videos are going to describe the current situation. I've done quite a bit of research into it. But the rates have been changing a lot. So even in the period where I do these videos, you're actually going to see that change. I've recorded some of the clips. And there were at times when the rates are extremely good. What I feel like is like over the weekend or so, a lot of people have been jumping on this bandwagon. And the rates for the annual percentage yield have been dropping. So that's just current case where it is so hot that everyone has jumped on board already. And it's sharing the same kind of pot of gold. It's like a giant train. Everyone's jumping on board. Before it was maybe luxurious. Before it's got the spa. But now everyone's just sitting inside the spa cooling. And it's becoming more of a hippo pool. That's kind of the situation with DeFi right now. Where there's just so much... So many people are trying to min-max their rewards. Where it gets... Yeah. A little bit too crowded. And you're like... I don't really think it's worth jumping in right now. So that's my current take. It's getting there. Some of it... Like... Don't get me wrong. Some of it's still good. I'm going to cover it. I'm going to talk about various strategies you could deploy. But they change very dynamically over time. We've got Kendall C says, When can I buy groceries with BTC? BTC. I think you can actually do that somewhere around the world. I mean... A lot of people have been talking to me about... Flexa? Flex? Flexa? Flexa? Anyways. Apparently in the US you can buy groceries with that. I haven't tested it out though. Glimber Julianna says, Now you can earn 4% on your BTC on the Nexo platform. The only issue I have with the Nexo platform is that it's not decentralized. It's custodial. So any sort of custodial platform I tend to avoid. The reason being is because they have custody of your money. So typically speaking, if a person has custody of your money, that's risky. I will categorize that as high risk. So I've lost money on Mt. Gox exchange before. And that's one of the main reasons why I don't keep money on exchanges. It's because I've been the victim. I've been the victim of exchange scams. Mt. Gox being one of them. And that was the biggest at the time. Even the big ones. They're not too big to fail. And that happens with the same thing with custodial solutions as well. If someone just pulls a plug and says, look, you can't do that anymore. And there's going to be a lengthy legal law case against it. Your funds could be stuck in there for years to come. And that's going to be nasty. With DeFi contracts, it's a little bit better because they're not held by a person. They're held by a decentralized contract, right? So they're held by smart contracts, which no one person can just pull the plug on, which is what makes DeFi quite interesting, which is kind of why the whole wave started, where all of a sudden people can start saving up either their Bitcoin or various other cryptocurrencies. We've seen that REN BTC thing pop up quite a few times. So with decentralized contracts, that's where it's at, where it doesn't involve a custodial solution. But right now, it's not the safest yet. So that's my current two cents. It's like, it's fun to jump on, but yeah. But just be very, very careful with any of the centralized solutions. And that does include something like Crypto.com, Celsius Network. They advertise themselves as decentralized. But the issue is that they're custodial. And you have to really look through and see how to do it. They try to mask the fact that they're custodial, which is extremely sketch, I would say. And I've been avoiding those like the plague. Not your keys, not your crypto. I've said that for a long time. And I learned that lesson the hard way. You know, what's the point of getting 3% if you lose that entire 100%, right? That's my two cents. All right. LA San Jose says, why is it that altcoins follow Bitcoin price generally? Is it because it is engineered by the price market makers, workers or management of a certain altcoin? Or is there a better explanation? So typically speaking, a lot of people already trade in SAT. So they trade in Satoshi. So this has been something that's been going on. It's just a general trend that's been going on since altcoins started. Because a lot of the early markets listed only a alt slash BTC pair. Which means that if Bitcoin prices go up, the SAT price mostly stays the same. Which means that the altcoin will follow the Bitcoin markets. It's just been a trend for the longest amount of time. Especially with the earlier exchanges that did not have USDT pair or a USD fiat pair. So most traders already think in SATs. And it's been something that I see a lot of new course instructors even, I would say. Try to instruct people and tell people to think in Satoshis. I personally don't believe that should be the case. Because a lot of these coins, they don't have the same properties of Bitcoin. They no longer try to follow the Bitcoin route of being a decentralized currency. That's been a trend for the last two years. So the very OG, the very original coins like Litecoin. They try to follow and emulate BTC. Which also meant that having this price correlation thinking in Satoshis makes sense. But right now, a lot of these newer projects, they don't do that. They're completely different. Like Com, for example, is a decentralized lending platform. So it has nothing to do with being a currency, a decentralized currency. It's a utility governance token, right? So I actually don't believe that we should... I don't think we should think in terms of Satoshis. But one of the biggest reasons is that people do think in Satoshis. And the other reason why altcoin markets typically explode after Bitcoin market explodes is because a lot of people hold Bitcoin. And then if Bitcoin rises in value, they make gains. And people... After they make gains, people get a little bit happy. And they're like, oh, okay. Let me try some altcoins. And that starts this whole altcoin explosion. It's like, why don't we hit the casino after we make a big win, right? That's almost like the philosophy going forward. But we do see that tendency is a vague tendency. But it is a tendency that we see in crypto where people tend to start wanting to gamble after a major winning on Bitcoin front. DbilyDily says, you convinced... Sorry, I'm sorry for butchering your name as well. You convinced me and I got a ledger in Nano. Thanks for sharing your experience and humility. I salute you. And that was the original aim of this channel too. I started off... This is a passive project. That's what it was. I saw people... There weren't that many people making videos. And I just want to share some of my experience. And I mean, there was a lot of regret coming from 2012. A lot of this channel was talking about a lot of the regret that I have. Like in 2012, I did not save those coins properly. I listened to all the financial experts at that time. And sold my Bitcoin at $15. I mean, this stuff you just can't make up, right? And then being part... Being scammed in Mt. Gox, I'm ultra paranoid of any centralized solutions right now that do hold custody of my funds. And this is just... It makes logical sense if you've been here for a long time. But for a lot of people who haven't and they trust exchanges, exchanges are not too big to fail. Especially right now. Especially with a lot of exchanges really trying to push how aggressive they can be. You know, every exchange... Almost every exchange has a launch pad to launch new coins. So they're essentially like an IPO platform almost. Exchanges also have extreme leverage solutions. So, you know, 100x is out there. You know, there's 100x leverage you see out there. A lot of this is, typically speaking, need to be regulated by the government. But right now they're finding loopholes, right? By registering in various countries like Malta or sometimes Singapore. So there might be some regulatory issues in the future. And this is why, typically speaking, I have a trading account that I use just for trading purposes. And then a HODL account, which is HODL, don't touch. Also, it's in code storage, saved in the safest place I can have. And that's, typically speaking, what was the most safe strategy. If you keep it yourself, it's safe for the next exchange. CryptoBlockManagement says, I got the LedgerXS package. So there's a package where you get both the LedgerNanoX and the S. The S remains a backup. So, sure, he says, my S is still wrapped. And yeah, very likely. I do unlock it. I do actually spend the time to write everything down. It does take like an hour or so just to make sure you write every single word properly. And you do all the safety procedures. But it's well worth your time. It's one of those things that you just get. You just go on a weekend, just back up everything, and you're good to go. Pancho says, did you find anything more important about comp liquidations or is it closed loop? I actually have not, sorry. So I will take a look at how comp liquidations work. I know my friends did get liquidated, a few of them, just because of sudden increases in value of the borrowed asset. In which case, if the value of the borrowed asset, which you borrow from the exchange, increases in value, that means you don't have enough. What's it called again? You don't have enough collateral for that. So let's say you have a collateral of USDT, you'll loan out. If it's USDC collateral, and then you loan out some bad, bad rises in value, then they will liquidate your USDC. How it works, I don't really know that much. I had to actually look into it. It's been pretty vague, so I will look into it. All right, let me just take a look. Crypto Block Management says, I had 100 BTC at $1.50 and I sold it for a PlayStation 4. Oh, man, that must feel so painful. But at least you got a PS4. But that doesn't make sense, right? Does it make sense? Was PS4 out when BTC was at $1.50? Let me check. Let me check. Let me just PS4. Nah, you couldn't have sold it at $1.50, bro. I mean, I was there 2012. It was $15 already. You couldn't have sold it at $1.50? Rene Smith says, where did the South Park video go? I made a comedy for DeFi on South Park. I'm not going to show it here because YouTube has just these annoying issues with copyright. I put it on my other channel. I was being smart there. So the other channel is on BoxTech. I'm not going to show it here because YouTube would instantly detect the video as copyright claim. And then they'll make a copyright claim on this entire thing. And then if things do get nasty, I'll get banned from live streaming. So I'm like ultra paranoid when it comes to something like this. But anyways, there was a funny clip on that. I'll send you a link, but I won't play it here because of just how annoying YouTube gets. I mean, you can see if I can safely copy the link address without triggering the video and then getting myself banned. This is how paranoid YouTubers are getting right now because of YouTube policies. So yeah, we don't know what we can do. But YouTube policies, if they issue a ban out, it's like for at least a month, which is just super irritating. But YouTube, you know, I'm done complaining. I'm done complaining. I'm done bitching about YouTube. But anyways, let me throw that up for you guys here. Just follow me on BoxTech YouTube. BoxTech. By the way, guys, thank you guys all for watching. We have 200 something people here. So make sure you smash up the likes. It really does help this channel. Really, really appreciate it. And for those who have smashed the likes, thank you. Thank you very much. You guys are the best. So let me throw this up, throw this link here. The BoxTech is my other channel. So I've been putting out quite a lot of other content, like unboxings, weird reviews of headphones that I like. It's getting really random here, but I think it's just fun, right? It's a fun second channel to start creating stuff. I got a new camera as well. I'll show you guys the unboxing for one of the new cameras I got, which is quite fun. And I'll show you guys a bit more in the future. Recently, we just updated to a new computer, which I'm really, really excited for. I'm actually going to get a new computer case as well. I'm joining the PC master race. I got a Ryzen 9 3900X. We suddenly started streaming 4K because my computer can handle it now, which is great. We've got a new case with RGB lighting. I don't know what the hell is up with people and RGB lighting on their computers these days. But yeah, I'm going all in. We're going to show you guys how that's built, built up. That's going to be our box tech. So yeah, if you guys like this random other content, go for it. Create, Andreas says, create a crypto coin and we'll buy it like crazies. Man, it's so easy to create a coin too. I will show you guys that. That's actually a really good idea too. I'll show you guys how the coin creation process is. There's actually an ERC20 generator. We can generate your own shitcoin and you can create that and you can write your own white paper and start listing it on one of the exchanges like Uniswap. It's crazy how much and how fast this can be done with the coin creation process. And I think why that's actually cool to study. All right. I'm not telling you guys to create your own shitcoin and scam people for money, but sorry. Sorry. A lot of gas is what happens when you drink Kolo. But it's good to learn the whole process because now you're aware of what scammers are doing. So I think that's cool. That's by itself very, very cool. We've got CXXavier says, I don't have time to build a new PC, but one from CyberPowerPC. But man, building your computer is part of a fun though. I don't know. I love the Lego aspect. If I shove everything inside and you have to like, I don't know. It's one of those things. It's like, I realized that pure acquisition syndrome. So like, I just tend to want to buy stuff. That's why I have a million pairs of headphones and stuff. But I realized that. And building a PC satisfies that. You have to build, you have to get so many components and parts and you have to look at, oh, which motherboard is the best? Which RAM is the best? What thing? Oh, man, that's crazy. Anyways, back to crypto. So yeah, there's quite a few of these websites for yield farming that's happening right now. Currently, I tried out both Compound and DeFi, Compound and CurveFi. And I'm looking at Symphetic soon. So these are all like hot, blooming projects. Also Balancer as well and REN. I've looked at all of these and looked pretty much at how they work and function. And upcoming videos will talk about that. So I'm making a series called DeFi Explained that's coming up. I've prepared the first video already. And that's going to explain everything that's going on in the DeFi space. I just want to do a last glance at Reddit slash cryptocurrency right now. A few things that were interesting I just saw in this morning. So let me just throw that out there. If my computer decides to respond, come on, computer. I was just saying how fast you are. And now you're not fast at all. Weird. Close a few windows. I don't know why. Sometimes you have this. I mean, sometimes these things don't move. Or maybe Reddit's down. Let's Reddit down for you guys. We got at Bitcoin Jake O'Nine says, hi, BoxMoney. Hi, Jake. How's it going? Let's see Reddit. Reddit. Respond to me, please. Oh, there we go. Finally. So, all right. Let's see. 61% of Bitcoin hasn't moved over a year. New ATH. We talked about that. A lot of people are being optimistic. How can we go lower? This is a concurrent situation. I mean, yes. It's a direct reflection of the market. People think it can go up really high. Bitcoin can rally. And Bitcoin can go really low. Yep. This is. Let's see. This is interesting. Tether is backed by fiat. Trouble. Is that no one can prove it. So, but Tether is backed, right? Yes. Prove it. This is the hard part. And right now it's becoming quite scary. If you look at, say, CoinGecko, you can see that Tether right now is the number two cryptocurrency by market cap. So, actually, no. Number. Wait. 24. Market cap. Let's. Okay. Number three. So, Ethereum is number two. All right. But by volume, it's pretty up there. So, anyways. Number three right now by market cap, that's Tether right now with $9.6 billion saved in Tether. So, that means, all right, if we believe what Tether tells us, there's $9.6 million in USD sitting somewhere in a bank. But the situation is they never provided those bank records. It's a dilemma, all right? Why the industry trusts Tether is because some people have claimed that they've seen the balances. And others have actually seen that they don't just have USD. They're actually saving it in very liquid markets where you do have interest on them. So, imagine getting 5% interest on $9.6 billion. That's kind of Tether's monetization model. And when people don't even claim Tether, that's great. A lot of people are actually holding Tether now in China as well. China is now one of the biggest markets for Tether. A lot of times it's because they don't have direct access to US dollars in their banks if they want to expose themselves to US dollars. They can't. Because China is a tightly controlled market, it means that it's extremely hard to buy US dollars. And even if you want to move money out of the country, you got to apply for it to be moved. There's actually certain limits in which a citizen can transfer money out of the country. And if you want to transfer, if you want to make use of that quota, you also have to apply to the government to get approval to move money out. So, versus Tether when you can just send it anywhere whenever you want, right? And you have exposure to US dollars. So, that's why China has become rapidly one of the biggest markets. But we can't prove that they have one-to-one ratio. And it's going to become one of the biggest issues in crypto in the future. Right now, people trust it because they have no better solution. But what if even better solutions arrive? And we've seen a lot of times what kind of the use case of something like Curve and the Y-Pool is you can switch between Tether and other stable coins. So, like Y-Pool right here, the whole point of this pool of liquidity is because they have DAI, they have USDC, they have True USD, and they have this combination which allows you to switch between these assets. And that's the purpose. A pool of funds there is to allow you to easily switch between these assets. And obviously, the liquidity pool takes a little bit of trading fees on the side. That's how it makes money. But anyways, that's kind of the case. We got at BitcoinJig09 says, CoinGecko is greater than CMC. I've been trying to migrate to CoinGecko. Initially, I wasn't used to it, to be honest. Especially because they have these three, one hour, 24 hours, seven day. It takes, like, you have to compute that for a sec. But once you get used to it, it's just so much easier to use. It's a lot, lot easier. And I really like their team as well. So that's why I've been trying to make a conscious effort to migrate to CoinGecko. So... Kenny Diamond says, at BoxMoney, please make an illegal haircut coin and microgreen update coin. I should do that. That would be cool. A microgreen coin where you have, like, a live stream of your microgreens. And you can, like, you know... It'll be like, oh, if microgreens grow, the coins are going value. But if they die, like, maybe they don't get water and they die. They just lose value. That'll be fun, right? Oh, my God. Oh, my God. That would be so fun. That would be so fun. All right, guys. I've got Masari. Masari's pretty good, too. Masari greater than Gecko greater than CMC. We have the race. We have the arms race now. Anyways, guys, I really enjoyed this session, by the way, guys. It's been really, really great talking to you. I was really groggy and low energy at the start of the session. But now after talking to you guys and this whole community here, I'm really happy. I'm really energetic. I'm actually pretty excited for everything going forward as well. I feel like right now there is a lot to explore. And I feel like, especially because I moved here to the new studio, I got everything. It's much easier for me to record. And also, it's such a good time to record as well because you can suddenly see that activity increase in crypto. And that's been amazing. It's one of the best times to learn and get into crypto right now, especially because we're not at the peak yet. You never want to get in at the very peak. But what I feel like right now, it's like we're gathering that momentum. And I want to be ready for when Bitcoin does explode again. That's crazy. DK says, are you yield farm mining? Yes, I am. So I've joined the Y pool. I have comp. I have saved my bat on comp as well. I have not used synthetics yet. I'm planning to mint some Ren BTC. I'm just looking through the process of that right now. So I have some Rapp BTC and Ren BTC. And I'm thinking of getting, I'm trying to do that bridge. You know the joke that I was making on South Park? I actually did look into it. So you mint the Ren BTC. You get some Rapp BTC. You save it on Curve. Then you get those Curve tokens and you put it on synthetics. Apparently, that's like one of the best yield routes right now. But you do have to be cautious about that. You know, like then look into it. So yeah. But when did you first hear about Bitcoin? So this is all the way in 2012. In 2012, there's two things that I want to do. I'm not sure which one came first. But one of them was I had computers available. I was at that time botting Diablo 3. So Diablo 3 is a video game. And I'm very good at video game economics. So I can actually make money from that. So I was actually making a few thousand dollars per month on Diablo 3, which was really good. It put me through college. It was great to have that money. And you can just party in the weekends. That was amazing. But at the same time, when you're botting Diablo 3, it's against the game's rules. You're not allowed to use robots to play the game for you. Essentially, what I was doing was that I had all these robots, the bots playing the game. And they'll get these items. And I'll sell these items for real money, real money, IRL money. And what happens is that the game bans you. So during a band wave, I have these computers I don't use. So that's when I thought, oh, let me buy Bitcoin. So that was 2012. You were able to mine Bitcoin with a graphic computer, with gaming-grade PCs. You were able to mine Bitcoin. And I got around 0.3 Bitcoin a day. So that was just insane times. I still have those emails from mining pools telling me I got my 0.3 Bitcoin a day. That was amazing. But at that time, I didn't care about the message. I didn't care about what I was trying to do. I just cared about utilizing my computers, right? So I sold everything at $15. It's all gone. And then to make matters worse, it's all gone because of Mt. Gox. It's like, boom. Wrecked. So that was what happened. And then I went through like four years of regret. Like there was a phase where my dad messaged me. He was like, yo, you know, Bitcoins. I heard you talk about Bitcoin before. It's $1,000 right now. And I checked. I'm like, rough times, man. Rough times. And you fill yourself up so much regret that you don't ever want to jump in again. And it was only until late 2016, 2017, when I really got back into mining again. Long story. I'll cover it in the new one, actually. Surprisingly, I have an upcoming talk. Not talk. I have an upcoming interview with Brian from the Hong Kong Bitcoin Association. And I'll tell a bit about my story there. So HK. I'm not sure where he posted the message. So it's from Brian. I'll have to find you guys a link. I don't see the link right now. Let me see box mining. I should have. Anyways, it's upcoming. It's going to be tomorrow, actually. So that's going to be fun. Andres says, bots are illegal. I used on RuneScape. I'm glad there's other people playing games here. That's pretty cool. We got Kenny Diamond asking, box mining, will you never make Corona update stream again? Corona got very political after a while. So I felt like whatever I wanted to achieve, especially with the early on updates, it was really just to tell everyone what was going on. It was started in January. It was when I canceled my trip to China to visit my parents there in China because of coronavirus. At that time, no one really cared about coronavirus. And I was warning people, you'll wear a mask, do the proper stuff. You know, this stuff is not a joke. And stuff was happening. That was when information was important. Now I feel like we have all the information that we need. But it also got very political. It was very much very racial, very political. And it's something that I don't feel like I necessarily want to get involved with anymore. I feel like just helping people. I've helped. I've done my part already. I've done what I can do. And now it's to this insanity part, which is unnecessary. So very unlikely. Oh, we got Swotor. See, Xavier says Swotor. Oh my God, I play Swotor. I love that game. Just that like the servers were so messed up and all the raids were terrible. So yeah, Swotor was great. That was such a fun game. We got LA San Jose says, I think DeFi is a direct competition to BTC price. Any comment? I actually think that DeFi is like more of a less of a competition, more of a like a leech. And like it attaches to the Bitcoin price. The Bitcoin moves. It moves too. If Bitcoin doesn't move, it's just going to drain it of energy. People are going to kill me for that. Absolutely. But a little bit like a leech. Less of a leech. You know, if Bitcoin falls, DeFi will just fall like that immediately. If Bitcoin, like if there's no blood in Bitcoin anymore, it's just going to dry up and die. Right. That's what the way I feel like it. And right now it's the biggest rally. It's almost equivalent to ICO times because a lot of the times the DeFi, you're yield farming. You're not just doing it for the annual percentage yield. You're also doing it for the tokens as well. So it's almost like participating into a coin offering. But you get the coins over time by providing liquidity to various pools. So that's kind of where the kind of rush came in. And that's where yield farming started. But at the same time, the yields are getting less and less because everyone just jumped on board right now. So that's my two cents. Also, Bob Blair, thank you so much for your $2 donation. And thank you so much. See, Xavier, I played games since Wolfenstein and Doom Shareware LOL. That's awesome, man, dude. I'm not as OG as that. I think the first games I started playing was StarCraft. That was when StarCraft and Red Alert. That's how far Mario, but on PC, StarCraft and Red Alert. Oh, Bob Blair, man. Thank you so much for a $20 donation. Come on, man. You're so amazing, dude. Total respects for that. And just thanks for your positivity, man. That's like just thank you, man, dude. Yeah, I have nothing to say, man. This is just amazing. I'm doing this like I do this. I don't expect anything. And when people give me stuff, I'm like super happy. I'm just so ecstatic, man. So, Bob, thank you so much, really. All right, let's do five more minutes of questions and answers. Mark Carter says, YouTube will shut you down if you don't say everything the World Health Organization says. I've already survived through that demonetization phase. And the World Health Organization is the shittiest, most corrupt organization ever. A lot of this is caused by their complete inaction during that time and just bad advice they gave. So, yeah, pretty much YouTube, right? I see Xavier says, StarCraft, yes, Brood Wars. Oh, that was a fun game. That was a fun game. I still play StarCraft 2. Recently, a friend got me into StarCraft 2. And, yeah, that's crazy. Anthony Grissafi says, you and me, 20 minutes, no rush, bloodbath. I call Protoss. Awesome. Play StarCraft 2. I've been into it recently. If you guys want my Battle.net ID, I'm there. I'm done. Have you seen, at Jake096, at Box20, have you seen the new remastered StarCraft for Cartoon? I have not, actually. I'm actually pretty interested. Damn, there's a lot of StarCraft talk. A lot of your games are out there. That's awesome, man. And also, by the way, guys, I know this is a long video. In retrospect, I felt this is probably a bit more detailed than I need to be. But this video right here, and I'm just really glad a lot of people watched this, too. But this video right here, it was me with some game developers, how we can get millions of gamers into crypto. This is the guys from Infinite Fleet. They've worked, like, these game devs have worked on a lot of really good games. You know, Jason worked on Relic Games, Company of Heroes. Really, really great game. Age of Empires 4, he was on that team. We also got Damon. He worked on Anthem. It's just crazy that these guys are all talking about how to make video games. It's a lot more detailed than a lot of these videos here. It was a very deep dive into game design, how we can really design games to get them into crypto. And at the end of the day, it was the discussion centered not just around blockchain gaming. It was gaming with blockchain. Blockchain helps the game, but it shouldn't be one of, like, the only factors. And I think that was a good discussion there, talking about how we can do this. And I highly recommend this video. It is a bit more complicated. Like, in retrospect, I thought, you know what, this is a little bit more technical than a lot of my other videos. But I'm really glad I made it nonetheless. So if you guys are into gaming, that's it. And honestly, Company of Heroes, like, how I bonded with that team is because Sam Samo, I knew him prior to blockchain. So Sam Samo, he's right now the CSO of Blockstream. He's also the CEO of Pixelmatic, the guy who's making Infinite Fleet. He was one of the lead game designers on Company of Heroes. And it's one of my favorite strategy games of all time. It's made by Relic Entertainment. And after he left, technically, all the games sucked. So at least according to what he says. So, yeah, Company of Heroes 2 wasn't too great. Dawn of War 3 wasn't very great. But while Company of Heroes, man, that was great. All right. That's the video right there. All right. At BoxMoney, check out the game Cyberpunk 2044. And I'm so excited for that game. I've already have my, was it? 2070 Super graphics card. So I can render that with ray tracing. At BoxMoney, across Canada, at BoxMoney, I'll visit you next year. Awesome. Come to Hong Kong. It's awesome, man. FUD Zero says my first game was Digger from 1983. Oh, my God. That's OG. That's super, super, super OG. We'll also have a comment about my VeChain. I have a public VeChain address, too. I have a few private ones. It's how I organize my wallets right now. I split them between my public and my private ones. The reason why is because, and it's always a bad idea to tell people what your addresses are, because it exposes you to potential theft. That's just the way it is. Crypto is pretty nasty sometimes. And I heard people who have broadcasted their funds and assets. Once it passes a few million dollars, people get robbed and just held at gunpoint, really. So two risks. One is hacker risks. You're going to have a much stronger risk of being hacked if you tell people your addresses. And also real life risk, where people, if they know that you have a lot of crypto, it becomes extremely dangerous where they try to rob you. And I've done, I've upgraded all my security measures. And I don't ever tell people what my exact security measures are. I've actually been intentionally vague. So I have to apologize. It's not because you guys, I don't care. I like you guys are the cool guys. It's always like this one random douchebag hacker that joins these streams and try to hack people. And what the reason why I did get hacked, I did tell you guys I got hacked like three months ago, was because I was a little bit stupid when I mixed up some keys. So I'll leave out the details first. I'm still trying to deal with that. I lost around $2,000 in that hack. And it was 100% related to my mismanagement of public versus private information. So anyways, but I do have a public one. I'll give you my public address. No problem. Like that's for fun. I don't keep anything more than like a hundred bucks on that. That's like fun. Comment number, not your address. Right. I am. Yeah, that's cool. And comment is the one I use for public anyway. So it's fine. I can backtrace it. Raphael Gorsworth says, did you see that deep fake video of Justin's son? I didn't. Let me check Justin's son deep fake. Oh, that's your video. Cool. I'll check it out soon. I'll check it out. I haven't, I haven't seen the whole entire video, but that's pretty cool. Um. Um. Oh, a San Jose is big capital from Grayscale bought a lot of Bitcoin from six to seven K sometime in March, 2020. They are controlling PTC price from 10, nine K into eight K. Every time price goes higher than 10 K. They will dump any comment. I've seen this a lot. I mean, Grayscale is still buying more and there's always this talk about people controlling the price. And I've seen the interesting thing here is that depending on the country you go to, there is always this mythology of one group of people from that country dumping and selling or buying or controlling the price of cryptocurrency. So in the U S in the English speaking market, sure. Grayscale is out there. You have other funds out there in China. There's actually these, there's rumors that these Chinese miners have formed and conglomerate and they're also controlling the price. And the Russians too. Russians think that they also have this conglomerate of Russian miners also fair. So it's like, which one's real? The Grayscale or the Chinese miner conglomerate? Or is it the Russian mining conglomerate and big Russian money? I mean, this is a battle. I think crypto is super global. I think there's, there are parties, there are big whales out there and it's very clear by the way the price moves. The price does not move in like small amounts. I just, and that's a major, that's a box mining trademark understatement. When Bitcoin pumps, it pumps in seconds, minutes even. And when Bitcoin dumps, same thing happens. So obviously there are big players out there, but I currently believe there are multiple groups of big players. There's not one big player that's controlling all the markets. It is pretty global. And we've seen that kind of information asymmetry as well. So US people would have like this bubble of like a US English speaking Western world type of thing. But it's also huge. Bitcoin is huge in China, especially because they need it to kind of circumvent certain financial regulations. I'll, I'll put it vague there. And then Russia as well. I've been on the blockchain cruise and you see a huge portion of the Russian community, very, very rich Russian community there. I'm like, wow, like even not just Russia too. Like I'm forgetting like Dubai, Dubai has a huge crypto community as well. Like various princes. And I've been to Dubai, there's there as well. And then there's all of these like royal families as well. Interested in crypto and you're interviewing princes and stuff. And you're like, whoa, mine is blown. So I think there's more than one party and there are big groups and there are big movements, but sometimes these big parties are always playing against each other. So it's not 100%, you know, they're manipulating there. There is a battle going on. And which means that, you know, for us normies out there, that's why HODL kind of works. DCA kind of works. So it's, you kind of, you kind of break away from the direct battles that these groups are playing against each other. So Gladiator says, what's your local time right now, BoxMoney? I'm a Hong Kong time. So right now it's 12 o'clock right now for me, 12. It's noon. It's lunchtime. It's lunchtime. I'm actually going to pick up my delivery soon. I'm actually pretty excited. I actually have my new case coming in. So thank Nick. Thank you, Nick. So Nick, one of the admins from this channel, he suggested a really cool looking case that was affordable, quite affordable. It's like, how much was it? It's like $40 for a full case. And yeah, it looks not $40, probably $60 for a full case. Full ATX case with RGB lights and stuff. I'll show you guys that on my other channel very soon, but I'm really excited for that. I'm going to kind of amp up my computer. That's just my weekly project is to just add parts to my computer. And it's a hell of a lot of fun. But anyways, guys, that's all going to be on BoxTech. So if you guys want to check my other channel out there, BoxTech. We've got some interviews coming up on the BoxMining podcast. I know this link is the worst link possible. No one knows what Anchor is, but basically the website's hosted on Anchor and the podcast is on Spotify. It's on every single platform out there. It's on Apple Podcasts. It's called Bitcoin Out of the Box. Out of the Box. That's kind of the BoxMining podcast. It's Bitcoin Out of the Box. You can go to Apple. There you go. Apple Podcasts is here. So if you guys are Apple Podcast listeners and stuff, et cetera, I'll put the links down below. And that is going to be good. So across Canada, it's midnight over here. I'll catch you next time. I will catch you next time too. It's actually a great time to end this live stream. I've been streaming for an hour already. And guys, thank you guys so much for watching. We've got 271 people here, which is great. We've got more than 107 likes. Amazing. I didn't even have to push that very hard. We've got more than 100. I'm happy. But if you guys want to be an extra contributor and smash up the likes, really, really appreciate it. Just pump up that like button. It'd be amazing. And if you guys have any video requests as well, I'm doing video requests this week. I'll be doing some very light videos and it'll be really fun this week as well. So I hope you guys can stay tuned. Make sure to subscribe. If you have any requests, recommendations, et cetera, leave them on a comment section down below. I'll see them. And I'll see you on the next stream. See you guys soon. Also, by the way, by the way, by the way, by the way, encore, I need to tell you guys when the next stream is. All right. Let me try to get that link for you guys. So what I do is always get the schedule for the next link. The reason why is because sometimes YouTube doesn't tell you guys when it's coming up. So I'll just put that out there. Get shareable link. Let me see. So that's a shareable link for the next stream. So if you guys want to join me, we'll have another one of these chats. It'll be really fun. Just set a reminder for this. The time will be accurate. So it will be the correct timing here. I just realized it was one time mistake. It'll be. So let me just see. It's a five minute mistake. It usually starts off at 11 a.m. Hong Kong time. So let me just correct that slightly. There we go. So that will be for next Friday. That will be the next stream now. Just click the set reminder button. That always helps. It'll just flash up a reminder when the stream starts. So you won't miss it. And that'll be fun. So guys, that's pretty much it for today's session. I hope you guys enjoyed it. And if you did, smash up those likes. And if you really wanted to check it out, check out the next stream. It'll be happening in four days. In four days. Not three days. Four days. Three days and 23 hours. Four days. Anyway, guys, thank you guys so much, so much for watching today. I'll see you in the next stream. Big thank you and shout out to Bob Blair as well. Thank you so much for your big donation. You got, you donated like $22. Thank you so much. It's going to get me a pretty good lunch today. So thank you so much for that, Bob. And see you guys.