"Bullrun" is coming?

episode off box mining live stream here only on box mining i was gonna say um anyway so today we have a pretty interesting title for our stream so this is the title where i'm like huh i really want to tell you guys what i'm thinking and what i'm thinking is is the bull run really coming because over the past week or so crypto twitter and crypto media has always constantly been feeding us the news that bitcoin is going to take to new heights in fact i've been talking a little bit about this as well because there's a lot of tension there's a in terms of the kind of the long term there's a lot of tension there's a lot of issues right now with global politics and the way it's going which will cause bitcoin to become well what true what was truly designed for a global transfer of value that's independent from the financial system so we see constantly news like oh big institutional investors are coming this lawyer is buying even though normally lawyers are quite conservative they only buy property they're buying bitcoin bitcoin prices are going to go up but at the same time i want to be very critical of the sentiment as well i think one of the first messages that where our long-time moderator uh nick mayo actually said right before starting a stream is like he's looking for a time to dump right he's looking for this hype to go up but at the same time you know how far can this whole run go are there any suspicions that this might be a trap and this is something that we really touched upon just briefly on friday as well because friday you know we were speaking to we're at genesis block the bitcoin center in hong kong we're speaking to charles yang and he was like this really feels like a trap to me this feels like a trap a trap that can catch people who think right we see what we want to see we're in crypto we hold crypto we want the market to go up and that's why we see all this positive information yes paypal all of a sudden they're seeing this in this interest in bitcoin all of a sudden now they're going to allow people to buy bitcoin but now they're also looking at custody solutions too so to own bitcoin they haven't released any announcements yet but the speculation is that they're going to allow people to buy and enter in crypto meaning market can go up but is that enough to push general interest and that's kind of the question we're going to look at in today's episode so right now it does actually look like quite quite a bit bullish sentiment right now so it's good time to do a live stream but it's also good a good time to be very skeptical as well so i'll tell you a little bit about my personal strategy going forward as well and a few things i did this weekend so that's gonna be at this time we've got nick miles says hodl sorry i point so sorry i made you sound like a little bit of a bear over there nick but you know just just just pointing things out just pointing things out and we got cowl brazil said damn nick bow run will run cancelled because of you sorry to single you out there nick i just wanted to be interactive anyways guys welcome to the live stream make sure you guys smash up the like button as well and also of course i do want to before we start with everything i do want to tell you very quickly about my podcast bitcoin out of the box so new two new episodes are up bitcoin out of the box so we have the episode with injective so this is with eric chen we also have a sneak peek this is a sneak episode with professor don song with or oasis i was i was the origin i don't know why i was like anyways it's oasis protocol it's actually something that's quite interesting it covers privacy and don is the leading researcher at she's like she's a prize of the ball right everyone that was looking at prof coins understood that don was kind of the the origin of everything she teaches computer science at berkeley and also you know something that she does is she's a winner of a lot of awards so you know out of all the kind of um kind of legitimate researchers in this space yeah don is just really out there so make offer fellowship fellowship in 2010 she wrote a lot of the early papers about privacy and a lot of her research about data retrievability etc has been deployed and used in blockchain so anyways a lot of her insights very very interesting useful in the space and this really goes to show like it looks at the broader picture and that's kind of what these interviews do so if you're out if you're interested check it out box mining um bitcoin out of box not box money bitcoin out of box podcast is already up with don song and the video is going to come out soon too so anyways sneak preview of everything take a thing you look at the markets right now so we got some of the big the bullish momentum returning so we got bitcoin above 13k again yes finally ethereum at 410. so this is part of the push that we had right so for the past few days he's consistently going up it's one of the best performing assets off last week if you actually look at and zoom out a little bit you'll see yes we did push up there were a few struggles here and there so you know um 13k was relatively a strong resistant point you can see it tried to it got rejected a few times off the graph so i'll put it up here so it's a little bit more i'll get this is a sneak preview of what's going to happen too um i'll just give you guys this but i'll put the bitcoin chart up here so bitcoin it it was looking there were a few rejections of 13k so you kind of see that right now we're actually breaking out yet again always monday morning in asia a little bit bullish asians a little bit bullish really huh huh huh but very very interesting situation that was developing a lot of this is related to that big the paypal announcement that was made that they are jumping allowing customers to purchase bitcoin and also to spend with bitcoin on paypal which is really cool i actually like i don't understand why they didn't do this earlier i mean bitcoin being one of the best ways for paypal to get payment because well they don't chart bitcoin charges very very small fees and in fact we pay for the fees too so it makes no sense for bitcoin for paypal not to accept bitcoin um bitcoin i mean if you think about it credit card transactions can go up to two three four five percent depending on how you discuss your terms with visa or with mastercard or even worse with american express because i heard those things can go up to seven percent in terms of fees for that transaction so it makes a lot of sense for pay paypal to allow the acceptance of bitcoin but of course now to buy bitcoin becomes a bigger bigger issue and now because there's rumors that they're about to acquire big goal which is a custody solution which allows them to store customer funds so that's where the rumors are at and there seems to be a lot of credence to those rumors this big big big big paypal move seems to be interesting on top of that there's a rumor that paypal is going to make a big play with their own currency as well you know how there was a failed attempt to create facebook libra and paypal was part of the facebook libra well yeah now after paypal exited are they going to create their own and this is kind of the holy grail right now of kind of fiat or central central bank back digital currencies well paypal is not one of them but it's going to be a competitor to this whole fiat style digital currency and we see china already taking the lead on that so all of a a sudden right now in terms of the finance world because china made such a big push it pushed also pushed the agenda for cbdc across the board in every single nation that's kind of the situation that's going on but also that also attracts a lot of interest into crypto too so anyways long story cut short a lot of kind of bullish momentum happened last week and that's actually real positive pushes now the biggest question of course is what happens to everything else right can we maintain this momentum and can we see what we want to see because obviously in crypto all we want to see is this right this is this is this is this is in in terms of crypto people what we want to see is this right it's this kind of blast off to the moon moon moon and this is what you know i want this i want this i want this as bad as anyone else and there's a lot of feeling of bullishness like you know i've been this most bullish person for the longest amount of time i've been telling you guys since three thousand four thousand five thousand that the current climate is leading to bitcoin becoming valuable and i've won a lot from here but also at the same time as humans right as human beings we recognize and as i especially me i recognize that we see what we want to see right there's this idea of hope me i'm selling though the idea of selling hope and there are a few red flags along the way which would mean which would for me personally which i would say look it could be the case that there might be some points where we drop down before going back up right this could be a possibility so now this is what i kind of want to focus on and discuss with you guys here like what what are the the red flags or order warning red that's bell red flags this was slash warnings because we want to be aware of this too you want to be kind of very balanced in that situation and i do want to say that during the last few months i've been very very aggressive into crypto in fact i moved a lot of my fiat into crypto and as a situation where i'm still at the point where i'm trying to figure out exactly how much of a fiat position should i take during this during this case i mean i want to go 100 all crypto balls deep but that's kind of like not my investment thesis anymore it's no longer kind of viable for me to be ultra aggressive reason being is because you know there's too much to lose at stake now it's all about being more grown up and you know having having a balanced portfolio and all that boring stuff but you know i'm on a phase where in my life where it does become important to mitigate some of that risk and also that kind of investment thesis carried me very far in the space because i didn't get wiped out i think a lot of people who do go all in and go um you know not financial advice of course but all in balls deep that's kind of the the motto of of crypto but at the same time you know now it's like you kind of have to establish some sort of balance and that's kind of the balance i'm finding out and also sorting out most of this we can to see what is the best kind of balance between the aggression and between kind of mitigation um position to take in this situation so yeah that's that's it um we got a cool comment fred kassam says the camera changes it's actually to hide the fact there's two box mines oh oh you're thinking you have something there you're thinking you're thinking maybe maybe maybe there's exactly another one like right next to me that would be cool that would be cool um okay so we got james liu says can someone please share the telegram discussion group link long time viewer just don't download the telegram so we're not really um sharing telegram anymore mostly because there's just been a huge wave of spammers um that came last week and it was like a pain to deal with that and most of the group now is kind of private to get a good conversation but i do highly encourage you to check out discord so discord is up i'll send you guys a link very soon um but yeah it's a great way to talk and then we'll find a way to repopulate the the telegram channel soon so i'll put the invite for invite people to um the discord channel so i'll put that up yes yeah but yeah but do lively since the prestige exactly that's what i was thinking there uh tesla serial land case this new haircut it is um i had it last week but it's still a mess right this this haircut is still a mess it's still really really messy uh but yeah we have been having a lot of great discussions we've also been having a gamer corner over there um so yeah so we're starting out with um yeah so anyways so bull run or pullback is now the biggest question so it's also kind of funny so it's just something i want to discuss just you know not too formally let me let me move my camera back but um with you guys is the fact that right now it does seem all right and that asia seems to be a little bit more bearish than out in the north america it's kind of very interesting that sentiment um china has been still very actively aggressively stepping down on bank accounts related to crypto and there's still quite a lot of bearish crypto news in china especially with what happened to okx where the founder he just went missing right um so there is still some fear quite a bit of fear in the markets in asia but we see the complete reverse with the north american market so all of a sudden asians are the bears and north americans americans are the bulls and it also does make sense because asians they don't really understand the paypal and a payment system as much as the americans do um with china they kind of skipped paypal right they skipped over that paypal credit card whole fiasco with banking 0.5 i will say but and they jump straight into wechat and into cbdc dstep right so they're kind of jumping into the next level of digital currencies but in the west it's still stuck in visa and this is why visa never really picked up traction paypal never really picked up traction in china so they don't understand how big of a deal this is for north america so we kind of see this play out where during the day i would see crypto crisis drop drop drop drop drop and towards at night everything just seems pick up again right like we we see all those like kind of temporary all-time highs in the week highs are all when america's awake and when asia is like a dead of a night no one's there to dump so that's a kind of an interesting dynamic that we've seen play out so this week what am i looking for for this insane rally i'm looking for some concrete evidence more than just kind of paypal that there's substantial movements to say there's more interest into bitcoin all right so let's look at let's let's just put down the positive and negatives let's just put that down here so both scenarios or both reasons right since so we got paypal first number one first and foremost paypal sure cool paypal is cool we love paypal uh we also have institutions institutions um that's been going on for a long time and here's here's the way i view institutional investment so institutional investments they're coming in slow but steady they don't cause this insane kind of like major hockey stick uptick that's that's not really what institutional investment does um that's read more retail um institutional investors are much more safe and they say okay look bitcoin's interesting they'll wait for the dip so what we'll probably see like it's as institutional investors come out and more of them stack is that they'll stack when bitcoin actually has a dip so we'll see more buy pressure during these dips but i don't see and and this is something i really hate in crypto discussions um everyone's saying oh institutional investors are coming it's gonna pump they're gonna have to buy bitcoin oh my god you know that sort of conversation i feel like is very 2017 and it's proven not to be the case it's proven that you know institutional investors are gonna buy bags when crypto freaks out that's you know buy low sell high right no one wants to buy sell buy high sell low lol that doesn't make any sense whatsoever so the case with this is i always want to put this here is that um more registrations um so this is something that i also checked with genesis block as well the bitcoin center here in hong kong we're like you know are you getting more restrictions yes but the caveat here is that these registrations are not leading directly to deposits immediately so it's kind of interesting where institutional investors they just make the accounts so these family offices or larger funds they make the accounts necessary to make these purchases but the purchase isn't the money isn't moving and you know money talks right so so that's kind of the two scenarios we also have election uncertainty i'll put it here so you guys can see it uh election uncertainty um it's kind of also funny um where this is actually quite um interesting so if you actually look at the rest of the world versus um in the us you actually have a big discrepancy over who do who do they think is going to win so the whole world is looking at america to see okay look what's going to happen with the elections um this is very so this i found this very interesting so trading view right so you have a slight favor in joe biden at 50.8 percent and then we have trump at 42.8 all right but also um the ftx represents more of the rest of the world this is not just a poll but also you can actually buy and speculate on this this is not open to americans so this is um non-americans only the kyc to make sure that no americans can actually participate in this but in terms of trump win it's a little bit lower at around three um 0.38 so the way it works is that if this becomes if trump wins um this asset will become a dollar so roughly speaking people think that he's gonna win the amount of people who think he's gonna win is 38 percent and vice versa the reverse is also true trump lose is 62 percent so 62 percent kind of place their bets there so that's where the the kind of the not bets i guess that's the uh win or lose tokens so i don't know i'm not sure the uh how you would describe or do that um depending on your regional jurisdiction but i found that kind of interesting that there is a discrepancy there where yeah people think that trump is going to lose the the the rest of the world thinks that trump's going to lose a little bit more than um especially with trading view because trading view we have a larger american audience there and you guys can probably see different polls around the world but i found that kind of mildly interesting and intriguing so very interesting and also the the the explanations also range within regions so globally around the world whether they think that trump win means is good for the traditional markets and vice versa crypto it actually depends on which region you're in and the analysis is different so it's kind of very funny so like the same situation will spark a different response in every single market very very interesting so anyways i don't i don't really want to speculate too much on politics here there's um if you guys are not american um you can try out uh on ftx and check that out um the uh the trump token but obviously you know that's kind of the more prediction markets aspect of this so something i kind of view that's kind of important why i actually showed us too is because it's like putting money where your mouth is right not just saying it but also participating in an active market with a stake involved right so that's kind of interesting and that's where you know all the discussion about the prediction markets goes right you want to predict what's happening this is actually one of the biggest use cases where you force someone to put money where their mouth is like you force them to say you look take up a position and change my change my mind right that would be um interesting so uh nick says uh trump ftw oh sorry i didn't mean to intervene nick gets so triggered because um he's based in he's russian so he's so triggered every time people say that russia rigged the u.s elections he gets so triggered it's so funny nick love you nick hilarious hilarious um so yeah so so i would say election uncertainty is probably one of the bigger factors going in and depending on how you view it um trump winning apparently no it's kind of funny that now people are arguing that no matter what happens um whether it's trump or biden it's going to be good for crypto but anyways the uncertainty is causing a lot the election uncertainty because of how polarizing the the results can be is leading to a lot of uncertainty in the stock markets in normal markets and this is why everyone's kind of looking at it in political situations and that's kind of kind of looking into it um i would slightly bring kind of covet back into here um covet has led to um a lot more people being more interested in trading which is kind of cool right so we saw that with tesla it's uh insane hype um tick tock uh it's a situation where people you know they're stuck at home they just want to want to trade and that has led to more kind of interest also um into crypto as well so kind of in here okay i'll put up the other side the bear reasons their reasons reasons um number one i would say it is already ready factored in so if you take a look at any sort of crypto discussion especially within the crypto groups you know all these reasons for the bare scenario like paypal institution investors i'll actually throw in dcep dcp slash cb dc um digital currency so central bank digital currency as well but these these figures are already known there's no real new data out there so i would say one of the bare reasons here is that all of these things are already factored in the price already people already factored this uncertainty and they factored everything in already so we're kind of waiting for actual new news for it to move up again right after this so um this is kind of one of the reasons for a bare scenario where everything's accounted for and if there's anything bad happening then we might take the other way down the other bare reason i would say is i would say no new um no new blood this is still kind of the case uh we saw in 2017 there was a huge amount of new interest in crypto so the searches for bitcoin are up even on this channel we feel it where people start asking very basic questions here i kind of see even with this channel that we're a lot more kind of mature a lot more understanding we've been through one of these cycles already and the kind of new blood um it's not increasing as fast as it could there is okay don't get me wrong there is new blood right so even when i was in genesis block um on friday there were people constantly knocking on the door and using the inside atms because they can take more money that's actually very interesting actually how i saw someone holding a bag like like literally um you know how asians really like their fanny packs you know like it's an asian guy thing right you know they love their fanny packs and they just bring a fanny pack shoved with like notes that's kind of cool but anyway so yeah there are people coming in to there are people coming in but it's not like 2017 level so so just like not not 2017 2017 was a different time and i was saying this like if you use the same metric right outside genesis block basically before genesis block opens right the bitcoin center opens um there were like lines of people waiting outside back in the day just not just full of fanny packs full of money but with suitcases full of money right this was like a different time 2017 was a crazy time especially because of the way there was a kimchi premium people flew from south korea carrying either you're carrying a bit of cash and then trying more and more cash in hong kong and then taking that buying bitcoin sending it back and then making these runs we just don't see that in 2017 right now it's like that that kind of the level of insanity is nowhere near and we kind of saw yeah so so it's very it's a very different time and situation i do see like roughly speaking like let's say that's plus 20 sales on ledger on ledger this is some internal information and this is even without me pushing it right so i you know i have videos on ledger and i have an affiliate link in there and this kind of signifies people looking in buying ledger storing holding cryptocurrency so there's like plus 20 uptick roughly around there but it's not kind of the insane levels of 2017 so don't get me wrong there it could be the case that you know when it comes in droves that maybe the smart people coming in first and then you know the droves the horse coming in but it's not it's not as crazy as 2017 so just take that into account it's not the most it's not the bearish biggest bearish news but it's it's definitely not um it's not as crazy we also have the defy bubble it's quite close to people's minds defy defy slash farming bubble um this is something i'm very careful of and i'm very um i'm controlling myself around you know how i'm very very big in um defy a big very very big in the farming uh i was ill farming my ass off i was like moving as much asset as possible into defy and yo farming all the way like two months ago it was crazy when the wifey first started i was like in there big right but now i'm like forcing myself to sit on my hands literally my hands i want i literally want to click buttons and farm but the problem is the risk right now is just way too high like the the the risk to reward ratio just doesn't make sense to me anymore and a lot of people like this kind of also triggered me too where people are like oh you're the first degen you should continue being degenerate you know you should continue doing this because you're the first one but if you translate that right if you translate to what people are trying to say is that you should i should continue gambling or be more aggressive in gambling when the time is not right you know i can feel that people are aggressively shilling farms and aggressively shilling projects and that aggression makes me extremely bearish so i still see that sometimes in quite a lot of my channels i see that a lot in public channels where people are very aggressively very pushy on your farming or defy projects and then i'm like you know what no that's not for me the moment someone's very pushy that triggers my like fear my bear sentiment i'm like you know what you know it feels like they're desperately trying to get me to buy so they can sell right you kind of you kind of you kind of don't want to be too pushy especially there so that's my two cents um we also have a little bit of uncertainty in china so china it's weird right bear slash bull i'm gonna put this in the middle actually i'm gonna put i'm going to put china in the middle because china has been extremely schizophrenic recently where for a few days they'll be like oh my god they're the they're putting out bitcoin ethereum on national tv saying it's one of the best assets and now all my friends know what i'm doing because it's on national tv in fact my grandma knows what i'm doing because he's like oh my god this bitcoin ethereum thing i saw on cctv you know is that what you're doing now like people start understanding so it's like all of a sudden you know china was pushing bitcoin and then and then of course and then go around and start arresting like okx people and um you know that happens so you know that's that's the problem right so uh yeah so i know it's it's it's kind of in the middle here so hard hard hard all right so um that's kind of the main reasons i'll put some more reasons up here if you feel like it i still feel like the um i think the last one's a little bit weird where um we all want pump oh wait no i also this is this is the biggest okay this is a personal one just garbage projects garbage projects all right because okay here's objects here here's the narrative right so recently i've had um quite a few calls right so you guys know that in my schedule i get a lot of calls with various projects to figure out what i'm doing because i'm also aggressively investing in projects but the amount of trash that i see right now is like through the roof right it's an utter shitshow right now in the crypto investing space especially in like the pre-sale um slash um incubation area it's just just total garbage right now um people do not know what they're talking about they're just outright scamming they're you know it's it's it's it's horrific and um it makes me very bearish um how like people present arguments and we're gonna have this about uh we're gonna do one where we're gonna start seeing we're gonna bash a project or not but um it's these huge promises that i put out like they they talk big and then they design the projects with a very low cap right that seems to be the popular one so a low cap and of course a low initial market cap so all of these are kind of like the the the pumpermento so all these projects understand how pumpermentos work but at the same time their long-term delivering and their long-term value is very very thin very very very thin um so that's actually making me quite bearish where um these projects are just designed to scam retail so scam retail and that's gonna kill people um that's absolutely gonna kill people and so that last one yeah we all want pum so this is where hopemium is key and where i'm trying not to get hopemium like trying not to fall for that so anyways that's kind of it we also have let's see there's been aggressive shows on hex recently um yeah like hex shows are interesting interesting um hex i'll put hex as bullish um okay so i'll put it here hex okay hear me on this one because i hate that i hate this project with a vengeance right i hate it with a vengeance because it's literally the big connect of uh bit connect of 20 uh 20 20. all right but at the same time okay so this is a scam um i'm gonna label it as a scam warning uh because it provides no value it's pretty much a big ponzi right and it depends on how you classify it as i say said um you know if it's if you think that it provides value in the long run and you're really pushing it to say provides value then it's a ponzi because it doesn't so you're kind of lying to yourself and to people who talk to uh who you talk to or if you know exactly what it is um it doesn't provide value but um you'll try to encourage people to buy anyways that would be a pyramid right but kind of interesting is why for view that's bullish is because big connect led was also very big part of the bull run it's kind of like people like falling for scams right so you kind of see like the more people who want to push um hex the the more i guess we're in a more retail market we obviously on this channel we have banned the crap out of hex because it is just like i said it's a ponzi we don't promote that sort of stuff here and typically speaking like right now i actually also want to see how people react to this um see like we have a michael has no clue so this is kind of very interesting so people who watch this all the the kind of um that all the hex shells who watch this get very very angry and triggered right uh but it's also a very good sign so they are more aggressive it's kind of very interesting right so this is the psychological play the more aggressive people are at shilling hex um the more desperate they are and you have to see the number and the amount of desperation going into it right so yeah it's it's kind of an indicator of the kind of insanity in the market and i would say right now we're kind of increasing the amount of insanity in the market so that's kind of a you know a uh observation so uh what we do on this channel of course is that as much as we like discussion obviously the hex discussion has obviously gone too far so we have a direct ban on any hex promotion here so yeah uh put user high user on this channel bye-bye um yeah so what's bad about hex what's good about hex oh hey i got fake richard hart here too uh i'll go to your show right now dude let me prove it to you uh maybe maybe when you're in jail okay maybe maybe we'll do an interview when you're in jail it's um it's great so we got the all the hex shows here so that's that's a positive sign i'm viewing that as a positive sign where all the people are coming it's it's kind of like the big connect army we had that back in 2017 where an army of big connect shows they'll get very very aggressive um in fact it's actually very hard to say it's a scam because of how aggressive people can get but anyways um that's pretty much uh it and we will also implement a channel wide ban on the word after this so at richard heart when x is a scam i'm happy to leave you anyways fake creature heart is too funny all right okay so that's pretty much it on my take so what's the result of this what's the result so personally my take is i'm actually very very very aggressively in crypto so i'm still very aggressively invested um in fact before i've called virtually um in terms of my crypto account right okay there's a few things so so first of all my portfolio this is my portfolio um i just want to make caveat here is that i do have fiat um this is just to make sure everything runs and also because i'm trying to build more on box mining side fiat becomes for runway right and i do say that i have a runway it's um it's necessary so um i'm not going to include the runway fiat so this is excluded i have some gold i have some stocks these will not be talked about here so uh roughly yeah that's kind of dividing everything here so yeah so fiat gold stocks um other assets property i have some small amounts of property proper property so this is kind of everything else right so this is i'll cut this out this is going to be in in the gray is there gray here no there's no gray all right i'll put it i'll put a hash line here so this is the other other stuff for portfolio so in crypto portfolio almost one almost 100 was in crypto um a week a month back right so a month or two months back super super super um yeah super super super aggressive into defiant that worked very well all right especially with the amount of kind of uh d5 wave and the farming that went very well so being in crypto was great right you get you get farms you get free yield um but now the yields have dropped um so it's also now a little bit of time to go and figure out what's happening so roughly what's happening right now is that i did the risk so this is the new popular word the risk um it means selling so i did the risk some odds right but now roughly around 30 percent alts have been de-risked over the past two to three weeks and the reasons why i'm de-risking alts more than btc and eef is because the reasoning behind that is because i do believe that these will move up first i mean this is exactly what is happening on the markets where you know bitcoin needs and has a time to shine right um and also by the way um ccmvb says we have banned the scammers please do help me admins here um i did say some aggressive comments about um hex and we're gonna have a bit of pushback so i expect you know comments to go a bit crazy so thank you thank you so much for for the stuff and um yeah if it's people are too aggressive or angry or hostile um yeah just just i'll write just kick them out forever like yeah you don't really need to like yeah i just messaging my admins so you don't need to hide them you just hide them out completely from the channel that makes sense all right so um bdc and eef we got the de-risk so i believe that this will move up faster that's just my personal opinion of course and that's why uh outside i'm de-risking around 30 percent right so 30 percent um taking away anything that i don't really believe in that completely gets dumped and then anything that i do believe in i'll de-risk slightly to kind of mitigate any sort of um downward you know momentum that can happen so that de-risking has also been put around roughly into bitcoin and eef so i increased my eef stack and bitcoin stack um there i've also of course um taken around roughly 15 percent of that 15 of that out to fiat fiat so uh not fiat so more to usdt or or or stable coins into stables stables um actually i would say that eef was i'll actually reposition this a little bit so roughly speaking what happened was around a week ago i bought eef but this week i kind of also reduced my eef as well just a little bit just a little bit all right so so kind of eve will be instead of up arrow i would say it's a neutral arrow there so just to kind of keep everything there so yeah if that makes sense to you guys um i'm a little bit into stables right now i got in i got out of a lot of farms and it's kind of weird sitting on so much stable and fiat um it's something that i don't usually recommend um and i'm just waiting here so i'm i'm just like here i'm waiting reason why is because um in stable coins it's very easy to re-enter positions either here here or here so now this is my tax schedule so i can easily re-enter positions with stable so i don't i don't want to cash that out into pure fiat yet but um so i'm just kind of waiting and spectating it's not the safest kind of position to do it um i do recognize now you have risk of usdt falling um or like um die but now because there's more stables it's also a little bit better usdc so this is kind of the situation i'm in um so i'm just waiting for re-entry positions if the market either goes continues going sideways in which case our dollar cost average in or if it goes downwards then i'm gonna buy in so that's kind of interesting um our rickster says can you explain a bit on your choice of stables die usdc vs usd um t etc um okay i'm very honest on this channel i would normally prefer to have more die uh but die is just not as useful um as everything else so uh you're gonna guys are gonna hate me for this so a lot of the stables i have on ftx um just because it's so easy to withdraw funds from ftx um i'm getting lazy here so um ftx and also because i'm in hong kong so if something does happen it's like if their offices are like screwed over or something then that then you know i don't know i don't know i think generally speaking this is not what i would it's not behave it's like i do this on a very um selective basis like if this if this bunch of stables is going to be kept here for longer like i say if this is going to be kept here for one to two months two months or maybe longer maybe let's say let's say three months plus um i would move it out into actual stable like into actual usdt or you actual us dollars or actual uh fiat in my bank account because i still don't trust crypto companies holding my crypto but because i need to be able to re-enter positions right now i do just have them on ftx um or another exchange or the ca the exchange beginning of b so it's on exchanges um and then it's like yeah so so ftx kind of became my wallet um because it's free to withdraw so yeah that's pretty much it uh uh bris brysology says honest laugh my ass off sure you know why not uh sure believe what you want bro believe what you want and that's good right that's the great thing about crypto is that people can't believe what they want um fuddy months uh moody fun star cryptos isn't china trying to attack stables again so uh depends on what you define as china right because chinese users are heavily into usdt they're heavily into stables right now because there is now the preferred way to buy cryptocurrencies is to enter via stables um you can listen to that story i think um the guys describe it pretty well at the bitcoin centers but um previously the best way to enter crypto was with btc chinese people anyone who's chinese they just buy btc then it became eve eve became very popular uh 2017 especially because there was a whole ico rush where people just buy eve to go into new ico projects now everyone just enters in stables and you can also see that with the way private sales are raised now usdt and stables is the preferred method of raising reason why i feel it's because people start thinking stables are well more stable if beyond a word for it and there's more ability to change exchange between stable coins so yeah that's pretty much the case right now so um so yeah that's uh so i'm comfortable holding stables for you know one or two months but um you know depending on how you view it um it's like that okay so yeah thank you so cd for the mods as well big big thank you for that uh okay so glenn orte says michael looks looks like funds are drained from harvest swapped by by uniswap check the volume on uniswap so just be a little bit careful um harvest i'm not gonna fud or i'm not gonna hate but uh there's the problem of harvest all right i talked about this a little bit all right well that's a big dip right now huh there is a big dip whoa whoa whoa whoa whoa ah harvest i'm just trying to see if there's anything new on harvest uh before i spew anything out farm dollar sign farm um well i'll tell you guys like i i just doesn't seem to be anything let me see latest farm something's up with farm oh so just a very quick thing about farm farm took a lot of hits over the weekend um mostly because of how it's set up so there's a lot of funds in harvest right so this totaled up to roughly 1 billion by last friday um and this is something that we've seen before and i've told you guys on this channel too where the way they set up strategies is very centralized and reliant on how they set up strategies and strategies could lead to a bleeding of the vaults and because there's so much money in the vaults it's like one billion dollars right so because there's so much bleeding of funds there um it leads to centralized risk all right so this is one of the reasons why i wasn't very big on farm um in fact they really wanted me to be big on farm like in fact they took the time to talk to me about farm but at the same time i did not view their answers as satisfactory so it was a case where was i in farm yes did i use fusdt no it was more i was in the bread for the people i i was like one of the the cheap asses getting free bread off farm so sorry uh but that's the honest truth i just went there and farmed it without any kind of risk to myself so um once bread for the people stopped my interest for farm also decreased as well so uh my take on it is that it's quite dangerous considering that in terms of tracking where the funds are and in terms of the amount of control project has it's quite high so anyways um i de-risked that like months ago like months months ago so i'll have to see what's happening um and again it's very very hard to god i don't want to fuck them too because um we also made the argument on the channel that they had the opportunity to steal a billion dollars but they didn't do it so it didn't like there were arguments it didn't make sense for for the devs to steal money so early but it wasn't the strongest argument in my opinion it not especially not with i wouldn't trust that with my word chest to be honest so yeah that was kind of the case um and yeah so instead of i don't want to flood it directly but that was always the situation where i'm cautious with it so anyways uh but yeah farm did drop recently so i guess the the kind of the flood is eating it right now so like right now it's a there's a lot of um uh there's a lot of fear and starting to doubt on that so anyways i'm i'm just careful i i don't and as you guys know me i don't really speculate too much on uh coins so we got uh shows for axia this is always very scary for me when people always um aggressively show like this um hide this user on my channel i love i love suggestions guys um but at the same time you know uh you know like i said like my argument was here is like the more desperate you are um the more um the more i'm cautious so anyways oh we got we got a huge um aggressive push onto it so yet again guys you know i appreciate people having suggestions but i'm extremely extremely careful when um you know people go overboard aggressive so please do um um yeah please do be careful you know i see a lot of people pushing also that also makes me a little bit bearish so anyways guys that's pretty much it i'm in stables i'm i'm in 20 well not 20 15 to 20 i'll put that there 15 to 20 stables um and that's kind of the case um 20 stables just waiting uh for what's happening um okay so cryptogram says there is a rumor that farm has an export in the usdt strategy check the telegram group i'll check it out i mean it really relates to the expose last week where it was revealed that they uh one key has a lot of power in crypto so um emily what do you think of pancake um actually a really good question so this also goes back to some strategies here okay so pancake um it's kind of funny pancakes one of the funny stories where um i'll just put this onto bsc as well connect um bsc so pancake um a few few things right so let me just put everything here and put this up here that makes a lot of sense now okay so ignoring pancake price for the moment because pancake is on dumps um pancake has some good rewards for busd dot band so these are the three kind of pools that i am mainly farming in so this will give quite a lot of my returns and in fact yeah so you know i don't i don't mind 30 gains it's not it's not bad and i was looking at injective as well so i've placed some injective there that makes a little bit of sense um yeah uh so roughly here stables like these these one two three and four makes sense to me right because i'm holding these coins anyways i'm not going to increase my position because it's farming i'm just gonna if i already have a position in dot if i already have a position in band if i already have a position in binance i don't see any reason not to farm in these pools right um like counter uh reasoning so the the biggest the other bigger issue is here when cake bnb so when cake was a little bit um uh so for the past few weeks i've been in and out of this pool this pool is extremely dangerous because of how volatile pancake can get pan cake so um um there was a stable period and there was a period when rewards were roughly the apy rewards were on a thousand and that was the time when i did take up a position yet again it was um it was almost before the binance listing so before i started in this pool before the binance listing it went up and i kind of sold at around approximately um a dollar for pancake and then i slowly kind of dca'd my way out of that pool main reason being is because pancake right now the distribution is still super strong so i recognize that in the long term it's like a unit swap but on binance smart chain and also in terms of what they have right they have um a lot of partnerships with binance projects so a lot of people were like who are you guys anonymous team but you got injective you got all these binance projects to distribute so obviously you have a lot of sway in the binance community right so yeah so a lot of people were kind of looking to this to see that okay they have some strong partnerships they might be the de facto a automated market making exchange on binance smart chain but hmm so yeah so that's kind of um where it's at i feel like i'm mostly out of the pancake pool right now it might be a i don't know the emission rate it's like a little bit high i think the the a lot of farming projects need to go and revisit and revise why they're farming in the first place i think the the farming honeymoon is over it's it's sad right it's sad to say this but when you see ads hit point gecko like for various farming projects then you kind of know that the the party's over at least the free alpha is over now it's all like you gotta know exactly what you're doing to mitigate that risk i mean there were there was a situation two weeks ago where i had a um i was farming lua with tomo but i also shorted tomo so i i'm protected from the downside from tomo going down and that was such a good decision it's not even funny because tomo went straight down and that position that uh the short on tomo really paid off so i had basically net zero tomo but yeah so that's my two cents uh travis teal says have you tried pickle yeah i tried pickle like two months ago like it went up after wifey right but yet again a lot of these projects they're they're no longer having free coins and i see there's going to be a lot of problems problems with these farming based projects soon i'll make a video about it um i'm quite bearish on all farming projects at the current moment because the the amount of yield overall in the market has been dropping right so before we had 600 which means that any yield aggregators can make a lot of money just by aggregating the yield and also splitting that and maybe having a vault system but nowadays because yields have dropped substantially you know you're hitting numbers like 30 20 10 and if it's an extreme case of if um 0.5 right so now there's not much to split like if you're thinking of this like you know money printing and the printer going the printer mostly has stopped now so in that case a lot of farming aggregators are going to struggle to take their cut or maintain such a high valuation um that's just a hard truth right so yeah um yeah took took profits shameless there you go thank you michael honeymoons over crying face i i i would like um i i want there to be more alpha but it does seem to be the case right now that um yield farming doesn't make much sense anymore uh for at least for projects to offer farm uh basically back in the day they offer farm in the hopes they're basically giving you free coins in the hopes that you you will buy more or you'll encourage someone else to buy more but now that that that doesn't hold true most farmers are smart enough to just take whatever they get for free and they just dump it on the market and it caused huge downslides i mean if you just look at lua for example um it's pretty much worthless now um yeah it was great walls it was fun while since the farming lasted and you know what's smart about farming it but if you just look at it it's like it's a one way down one way downwards towards i guess what two dollars before and it's like now i like what five cents brutal brutal savage brutal savage wrecked yeah it's it's the downward side it's hard to fight that it's really really hard to fight that so you kind of see the situation happening there uh but pc is certif tick certified anyways um we're also okay so that's pretty much um it for today's uh video we got jason's screening for from hk zalson zalson all right um um crypto maniacs is uh explains why i move into stable if btc goes up will you move back in at higher price um to answer crypto maniac no um i feel like uh the stable is like i moved around 15 to stables and in fact i also increased my bitcoin position right if you remember that's what i said um a lot of this came from de-risking alts so de-risking also 30 percent move that into bitcoin i already have i'm very exposed to bitcoin already um it's you know this this amount of exposure is something i'm very comfortable with you know if it goes down to zero i'm okay you know i'm i'm not gonna cry if it goes to the moon i'm happy with what i'll get same with if that this amount of exposure is the amount of exposure as i want this amount of stables is this there in case things fall so if everything does moon uh then i would actually go for a dc dca cell so if it moves if if crypto if bitcoin goes to like say 20 000 um 30 000 40 000 even more to the moon maybe like 100 000 i will dca sell whilst the market's going up and then pick it back up like increase this stack to be able to buy the dip if it goes down there will be dips i mean bitcoin has died 200 times and it's gonna die 200 times again and you know the best time to die is when people people the best time to buy for me is when people think it's dead and that's pretty much it all right so um yeah but do live this is i buy ant financial no i'm not um ab says no coin is stable yeah all right so that's pretty much it um that should be enough we'll have uh ronalto liam says did you sell your yfyv yes absolutely um you i sell over time so if i get the yield like roughly i'll probably save around 20 they've been doing a lot like i really like yfy they've been doing a lot but the timing for the release of the project is also really horrific like the vaults released when vaults were pretty much kind of dying although i would trust them a little bit more than farm maybe we'll see um but yeah the timing is so bad and that's that's kind of the markets um varoon shars says nfts makes sense well i kind of discovered more about the nft market right right now it's a lot of wash trading so it's a fake volume plus wash trading so it doesn't really make too much sense i don't believe that deep down in its core that people in crypto care about art a lot i think there's a community that does care about art and i really appreciate them for it like i really really appreciate the people sponsoring crypto art i really love it i respect that um it's novel it's fun and i think that's gonna help this whole art industry grow and in fact i'm finding artists to do some art for myself for this channel for some box money nft art and that's 100 because of this nft craze that being said nft is being worth thousands millions hundreds of thousands of dollars this is where i'm like a little bit skeptical right it's a digital image that's worth so much so now you know can it really justify this this price or is it just right now over speculation and i'm kind of like ordering towards the other side i have to explore that a little bit more but it does feel like the kind of a current meta game for nft projects is to find an nft project with a small cap so anything that's like less than a million dollars and then push that really hard and pump it like kind of like kind of how meme did it so you have variables you have meme you have quite a few new projects are coming out like on polka dot um that they're targeting for market caps that are very very low so they have this kind of pumpermentos it's nfts it's hot um it's low cap go for it but in terms of the larger projects because i feel like the larger projects haven't moved at all like engine hasn't moved wax hasn't moved that much hmm hmm i'm i'm i'm a little bit skeptical i'm a little bit skeptical um zaza zaya zaza says people are laundering with nfts absolutely um there's a huge huge amount of nft farming it might not even be it might not be as evil as we think it is right but there is a case where people are laundering um crypto that they have and they're basically like dirty crypto that they have and then they buy an nft with it and by doing so um they buy their own nft with it right by doing so they have a deniability in the future if stuff happens anyways that's pretty much it um that is my take jason says how about trust swap it's so cheap right now it is quite cheap actually i was looking at it i was looking at trust swap i was looking at uh swag swag got dumped like crazy last yesterday so um yeah it's very very interesting very volatile for what it is so you just have to be very careful with this market right now yeah it's got really dumped really hard so i did take a small position there yesterday all right um yeah uh xm articles there just very it's very contested today in chat chat's very contested today anyway so what um chat guys uh what we'll do uh smarts kill wrestling will we ever see all season like 2017 again didn't we just see an all season like didn't we just see some crazy insanity and didn't like even people like um a lot of my friends were like this is just stupid i'm out like um i think even ivan i'm sorry to point ivan out but um ivan was like um from the lobster chat he was like yeah it's like in this market i read out his tweet right and like in this sort of market everything floats right and it's about how much complementos you can generate and that was kind of like the last two months i think people want another all clean market really bad um but this is when you have to be very careful and this is one of the reasons why i also sold around 30 this is this this is where you know it can be touchy when people say sell uh people freak out so it's not a complete de-risk it's a de-risk of around 30 and one of the biggest reasons why i de-risk alts is because for all plane season to happen bitcoin and if must take the lead i feel like the the last season has already exhausted the the bowls and you can see that right now in alts it's all mostly gambling right gambling um so that's kind of the situation right now whether it's like core encore some weird halloween specials like you're just gambling a halloween space themed coins right that doesn't make any sense to me so it's like it's like a casino right now in the out space so um you know but because the because people are too crazy when they're gambling um i'm very very cautious um you know it doesn't something like this doesn't always last very long anyways what we'll do is um okay let's see what else we have we will have okay so i've said we got nft giveaways so we'll do another one of those i'll give you guys a closer screenshot of this so we'll do one giveaway for this so what you guys can do is can post your erc address up right now and we'll do one giveaway for that let's see assets um so these are og ones like a lot of people are thinking oh michael you don't really support entities that much you know why make your own well these are made um all the way back in 2018 or i think 20 let me just see when they're made transfers february all right so they were made last year so this was made um on erc 1155 as an engine asset so this is you know it's not rareables i'll probably make another variable set but this set um was made and it was made ages ago before all this nft thing was hot but anyways it's on the engine wallet so you can send transfer sell it etc on the engine wallet so just put post your erc 1150 address here and we should go let's do this um yeah somni says we love the box thanks guys thanks guys um um check has zoom as easy kyc is obliterary applicatory now kyc is becoming such a big issue oh we got nick nick nick is feeling bullish now so all seasons are inevitable they are they really are like bitcoin and ethereum moves up people make money and naturally people want to uh play so that's kind of how the situations work right so anyways um well we got a lot of comments so i'm gonna close my eyes and i'm gonna scroll up and down there all right we'll close my eyes close my eyes close my eyes close my eyes stop all right i'm highlighting one it's adam adam picard picardo picardo item for turtle done thank you adam adam picardo so we'll we'll send that over um and then that's it so yeah that's pretty much it for today's show i know i have the worst drawings in the world just looking back at it i am the worst artist but you know that is life we also have the next live up so the next live will be up on friday so whilst you're here whilst you're waiting by the way do smash up the likes um really do appreciate it uh really does help the channel too so yeah uh your channel i don't guess why is your youtube channel so popular but not your instagram is not ask jason i haven't haven't done too much instagram i'm not i guess i'm not millennial enough is is that the correct phrasing for it like i kind of forget posting i should i should i mean i spent when i was in okay so when i was in the states last year i tried building because that was so hot in the states like everyone was on instagram you make connections on instagram you talk to people on instagram but when you're back to hong kong i think no one cares like i feel like instagram is just for promotions here it's like the way um it's kind of funny too like the where you are like when i'm in bali i'm very active on instagram when i'm in the states i'm very active on instagram when i'm traveling very active on instagram but like when i'm in hong kong i just maybe i should maybe i should um there we go um yeah maybe i should so let's see yeah so that's i should maybe try more so if you guys do want me to be more active on instagram i can um i can even do some more like comments and stuff and uh thoughts maybe that'd be cool so yeah why not why not why not a good suggestion let's do it let's let's let's get the box mine telegram of box mine not telegram instagram instagram.com slash box mining also there's a million fakes on instagram so guys be careful um that's that place is a cesspool of fake crypto ads it's crazy um farm getting wrecked all right congrats yeah farm farm farm farm farm some info developing on harvest finance exploit around 24 4 million dollar exploited uh 2.5 million sent back to the deployer hacker cashed out most of it via rent btc and tornado in the last one hour yikes yikes yikes definitely have to wait for that post-mortem absolutely also follow george george is cool george knows what's up uh well that's great george this is actually kind of cool morning michael the question you answered about entities seems a little specific the question was really broad art is a niche form for them also fractionalized uh and whole real estate supply chain product of them this is actually a really good use case but yet again it is um i think fractionalization don't get me wrong fractionalization of real estate is extremely powerful um there's actually a project that i'm talking to right now that is doing this in a very very legitimate fashion more will be revealed soon but absolutely absolutely does it need nfts in order to do so is another issue right like um i was very specifically referring to nft art for the current time being um nfts can be used for everything it's kind of like saying erc 20 or esc 1155 erc 721 it's up to someone's imagination of whatever they put in there so yes you could talk about fractionalized real estate supply chain product offensive location stos and no one's talking about stos anymore st security tokens absolutely you can tokenize that either via 11 55 or 11 erc 20 um it could be possible but yet again it's like i was specifically referring to nft art and um not even nft gaming nft gaming is another big uh shell so i think that's a good answer hopefully that answers your question um there so anyways yeah so harvest a lot's happening and it doesn't seem i mean at the end of the day um i didn't i don't have any you know i don't have any fusd i hope you guys are safe um you know like if you do have fusd p fusd do consider de-risking i mean if you have to right like that's um you know the rewards aren't even that much too right i mean uh let's see see what the fuss is about i'll definitely wait for the post-mortem to analyze what happened who who did it who done it who done it it's not the entire stack it's not one billion dollars so i'm not going to create flood there but at the same time i mean if you need to do it if you if you have a risky position here uh whoa whoa whoa whoa huh that seems very high huh i think their apy indicator is broken curve is not that high unless they're doing some weird strategy anyways i'll i'll take a look i'll take a look i mean previously w eve is what six percent it's not it's not the if you think about this way right let me think about this way um let me put this here like this and this kind of explains why i wasn't very much in in harvest because like what what's the risk of your funds being lost right let's say you have a three percent chance of it being lost um and your apy is six percent is it worth it you know anyways it's like maybe if you farm for a year successfully and it can maintain a six percent apy it might be worse the three percent risk that you take of all your funds getting lost but you know do i really want to play this game like no no not for me for now like for me i'm very very cautious like right now i'm in the extreme cautious mode when it comes to any form of video farming just because of the number of scams and rug pulls out there i'm just very very um very very defensive like i was very aggressive like back back around um two months ago when wifey was out yet again i was like i'll constantly refer to that um i actually made a pact with one of my friends and we're like okay we're gonna push each other we're gonna push each other to work harder to be more aggressive to be more do more research in the space um to to engage more right that was like a time when we just like kept slapping each other right push push push push push and uh this kind of was on full reverse mode around three weeks ago where we're just like pushing each other to be more careful um it's like there's a shift right now right that shift has very much much happened so i'm a little bit more careful that's fine um and yeah it's like i'm just waiting i'm just waiting so anyways guys that's that's pretty much it i hope um i hope farm is fine i don't want to flood it i think like there's so many people with funds in in harvest that i would be like yo um you know put what you think you can tolerate you know not financial advice that's just obvious stuff but yeah that's my two cents um mr bronces give us some insight into tron defy tron defy never took off took off um like they had a bunch of defy's things built and they built it themselves right it's either justin and his close friends all building defy products but it never really took off like pearl just dumped like uh like a dumpster truck like salmon swap dumped like a salmon like like like the stanky fish that it is yeah it just didn't really take off um i think yet again all the attention is back on eve like tron for the longest period of time tried to push the argument that because transactions on tron were free and this is when i did farm pearl i did farm salmon did get some yields but the yields dump so fast it was just crazy right um so now it's sun so everyone's farming sun now it's sun's giving okay pr but it's not it's not not something stellar not something not not something that you know like yeah it's not yeah that's my two cents it's like it's all right it's cool you know if you want so many people if you haven't tried you know why not but if not i wouldn't go into it because of it but yeah that's my personal opinion thank you guys so much for watching today um that's it for today's episode i'll make sure a stanky fish i don't know i'm so random also i'm really hungry um so i do these streams without eating now because like my um i'm doing intermittent fasting which still isn't working it's actually a um a little bit alarming actually that i'm not losing weight very much on intermittent fasting but i only eat between 12 and 8 so i might just decrease that window a little bit more but we'll see but anyways guys um thank you so much for watching today um yeah hope you guys enjoy uh and have a good weekend if you guys are still on the other side of the world or if you are um in hong kong um let's wish let's hope this week is a good week so with that guys thank you guys so much for watching make sure you smash the like button it really does help the channel out and i'll see you guys very soon much love guys