(Fri) Another Crypto DUMP.

all right he's loading his bags all right let's click the go live button let's get the show on the road so let's see you are live welcome back guys to another episode of box mining here today is the 26th and it is a friday today and i don't know it's like a friday thing but we have another dump on friday so if you look at the markets right here another friday another dump so we got ethereum going below 1500 again we got bitcoin going below 50 000 in the last 24 hours it was a 6 dump on bitcoin there was an 8 almost a 9 dump on ethereum and a 10 dump on binance marching or binance coin and well that's kind of the general big meta game that's happening there were a few things going on um we'll talk about them there was one which is mostly a rumor a rumor that the sec is chasing after elon musk and it really came from one tweet so anyways we'll look at the rumor it's blowing up on every headline but i chased down uh to see if there's any announcement from the sec that they're looking after elon musk for tweeting about dogecoin because you know apparently that's a security now no idea why but anyways um well i'll definitely take a look at you guys about the actual news coming out that could be one of the reasons here i would actually say the bigger reason of why this is happening and why markets are readjusting is also because of the coinbase listing so coinbase itself you guys know it's probably one of the biggest exchanges in the u.s um that's not probably it is and their listing um and if they filed their listing already so they actually had to disclose some of their earnings as well and it's well into the billions in terms of their revenue and yeah it's good and bad i mean very likely two things are happening one is that people are definitely seeing the power of crypto trading obviously they they're going to be a little bit jealous that coinbase is getting such a high valuation as one of the biggest unicorns of the decade but more than that as well there it's probably going to be a lot of expectation as well coming to the space we know that this public filing of coinbase and it's going to have to ticker coin it's going to be publicly traded on stock exchanges and people are going to buy it as a class a share so that is going to give a lot of expectations and whether those expectations are being met is also another issue right so we'll take a look at these two dynamics are coming into play that are the biggest kind of news of this week and we'll take a look at the minor news as well that's coming along the way as well there's a lot of developments in the cryptocurrency space i'll talk a little bit about all these new projects coming out of obviously you know this whole idea of chasing these altcoins is pretty pretty crazy right now so we'll discuss everything here everything obviously is my personal opinion and that's what i've been trying to push a lot in this channel this channel is a lot a lot less like the other youtube channels out there like for me this year i've been focused on being a good investor like investor first and youtuber second it's worked out really well for me and obviously it's the most profitable line of stuff because obviously in this space things can go a little bit crazy so you know i hope i'm really glad i can stay with you guys and the reason why i feel like this channel and i can it's it's worth doing and it's worth informing you guys is to give you guys this like insight of what's happening in the cryptocurrency space right because not everything you read is actually insightful and i get um to save myself from being angry at you know mainstream media and all these like um clickbait titles a lot of the reason why these youtube videos are here is so we can kind of evaluate them for what they are worth and that's kind of the reason why this channel is around but anyways i love your feedback guys as well if you guys want to um give any feedback to this channel and to how um the news is being presented i would really love to hear that too so leave comments down below and in the chat um it's always live and i do read it even though it goes a little bit crazy sometimes but anyways guys if you do like this channel and then you find this channel helpful make sure you do smash up that like button really really appreciate it um it's a youtube thing it makes it works with the algorithm makes the youtube video is more popular it's helpful and also of course if you guys haven't subscribed yet subscribe because we do a lot of spontaneous live streams as well and those people have been saying have been very very helpful so make sure you're on board on that too and what further i do guys let's get started here all right let's take a look at the markets so definitely the markets today weren't too amazing especially you know how um i'm in asia right now so i'm in the asian time zone so when i woke up everything was down right when i fell asleep everything was up right had a nice sleep yesterday woke up this morning everything's down and it does happen it's something that um i can say with a smiling face now um it's a very very crypto thing for kind of these things to happen and obviously the first thing i go to and want to check up is why this is happening right you wake up you see crypto is down like 10 percent why right you try to look for the news and this is when you know it's it's good and bad right so the first thing obviously i saw is that tesla ceo is reportedly under investigation by the sec over dogecoin tweets so this has been spreading like wildfire on the news and it could be possible that this sort of news is affecting cryptocurrency prices especially you know if if he's been like very positive about crypto you know elon's been tweeting both about dogecoin he's also his company tesla has also bought 1.5 billion dollars worth of bitcoin right so you know if he's under investigation this will lead to you know possibly less tweets about bitcoin in the future less tweets about doge i mean doge also fell by 11 percent but you know uh so that could be one of the reasons why but i just want to say that um before we jump too much into it um i do want to say that the article um and the information about this is pretty scant it's really by one kind of tweet so i try to chase up on like like it's by first squawk right so the this news group called first squawk um um the tweet said the sec is said to investigate tesla chief executive meth elon musk uh for his tweets on dogecoin sources familiar with this matter i mean who are these sources and this is really what took it viral like yet again i mean i'm sure the sec is on to musk right on to elon i mean um elon's been tweeting a lot and he's been pretty much on the bad books of the sec and he's demonstrated a lot of weaknesses with the sec as well because yeah like he should be having the right to a freedom right freedom of speech right it's like it's pretty basic no so i mean this is definitely on everyone's mind whether or not something like this has happened um i just want to say first of all that all of the news around this is based on one tweet by this first squawk um by first squawk and even they said it's a rumor so it's very much rumored right now i mean obviously they have followers and then you know that led to a lot of people tweeting about it but just be careful for headline reading if a lot of people probably assume that the sec has already pressed charges this is not true or the sec has made an announcement and this is also not true so yet again um that's the grain of salt i'm taking with this news because obviously everyone's going to jump and conclude and lead to conclusions whilst i would say this is very much something that we've expected and yeah it's mostly a rumor at this current point of times okay the other thing i want to say is obviously the big one the big big one is the coinbase listing all right so recently the big the big announcement that could really affect prices drastically is the listing of coinbase right so uh coinbase is i mean we knew about this for a long period of time but uh what we didn't know was uh the exact statistics of how much money coinbase was making so why is this big news well because they generated a lot of revenue so here's this uh here's for one quarter so they generated 1.2 billion dollars of revenue they have a 322 million dollar income they have 2.8 million active users with 90 billion dollars assets under management and 7 000 institutional customers and brian armstrong made 60 million dollars last year so why do we get this information is because coinbase has an approved um they're going through the listing process for becoming a publicly traded company and this is something that a public company can declare now it could be the case that the market is responding to this in a sense that they might feel like oh maybe it's not enough right these are big numbers but maybe it's not enough um that's kind of what the market was saying yeah it's not enough coinbase um please make 10 million okay you know i'll set that i'll set that reminder i'll set the reminder make 10 million then contact me otherwise we're gonna dump but uh regardless of that i think these numbers are still super strong all right and this is just one um i think something that's quite important and and this got shared a lot around the inner circles um quite a bit because a lot of trading companies are private so say for example take for example binance they're not going ipo um not that i know of anyways and they don't need to disclose their figures which means that they can you know a lot of this stuff is still under um uh it's it's private it's industry secrets right so it's kind of interesting how people are discussing this and uh um coinbase obviously they're reporting these phenomenal numbers right like they're it's not just it's 1.2 billion dollars of revenue that's a huge revenue right um that they're reporting and uh that's that that's pretty amazing i think a lot of people in wall street they should take notice i think a lot of insiders probably traded on this information and then we see the dump once the news is announced this is pretty typical of crypto where you kind of sell the rumor um say you buy the rumor and you sell the news right so that's typically what can happen in crypto as well where people get really hyped up we saw the rallies of this happening beforehand we've got bitcoin taking all the way up to almost 55 000 and then we got slammed back down again that being said crypto ain't dead um so let's take a quick look at the charts just look at the majors for a second there so bitcoin is officially out of its ascending um channel so initially before it was kind of in this ascending channel right here which was where we we kind of clearly saw it was just rallying right very likely people knew about this coinbase listing they knew that was this is i'm just gonna happen so there was a lot of hype and fever to it now it did break below this channel so i'm kind of changing this right now so i'm i'm seeing the support here we'll see how long the support holds but i definitely see the support holding and we kind of tested it twice over a long period over a short period of time rather so we kind of saw we kind of saw initially bitcoin prices drop to 44 000 it rose up again to 52 and then it dropped yet again to 46 so definitely the bears are coming in at this point but we also still have some solid solid support here this is when of course we're still in a period when bitcoin is highly highly volatile i think a lot of people now if you've been in the space for a long time you'll definitely realize that bitcoin is very volatile right if you watch my videos from last year around this time bitcoin was around eight thousand dollars right which is five times less than what it is right now so obviously it's been moving up a lot and there's going to be a lot of volatility coming through last channel like last episode we kind of discussed one of the crashes and one of the possible reasons why behind this these crashes and it could be market manipulation too i i haven't ruled that out and i definitely feel like especially with the last wave especially with the announcement especially with people kind of all talking about how f2 pool a big mining pool was sending large amounts of bitcoin out of the pool to leverage trading exchanges though this was tracked openly on the blockchain that this could be market manipulation and i definitely agree with it but i definitely did not agree that this was um this was the only thing that was happening right because we can see what's happening on the blockchain but we cannot see what's happening offline and there's a lot of action that happens offline and a lot of times what what people do right people who are who have been in this space in a long time is that they just simply send large cryptocurrency transactions to try to spook the market this also happens too it's like a it's like a mind game right this is where crypto becomes a very big mind game where you can you can yes obviously you can see these large transactions you can track them but then whales will then intentionally send large transactions to try to crash the market and yet again it's a situation where you have to be very very selective about information you're including into your logic and this is something that i have been extremely selective about and why you know it's very dangerous to just read headlines in crypto because that often leads to a situation where you're including false information into your logic which screws up the rest of the remaining logic like for me it's always about keeping the thoughts clean at least uh working it like i guess that's a science science part of me like just trying to make sure that i get the correct information so i don't make decisions based on false information if that makes sense to you guys but anyways that's the kind of look on outlook on bitcoin we're trying to figure out how strong that support is going to be and obviously if we do fall we could see all right 3.39k that's possibility all right that's where the previous kind of resistance was so typically speaking we do know that in markets like this the previous kind of resist um previous resistance becomes the support right so that's very very possible in this market we definitely saw that on in january bitcoin tried to push above 41 000 couldn't push above there but we did manage to break it on around the 8th of feb so yet again this could be a possible support on the next support line if bitcoin tries to get well if the bears tried to dump bitcoin a little bit further but that being said of course we'll have to see how strong the support currently is holding right now at around 46 000 and recently just in the past few hours we definitely saw movements um kind of up so we'll have to see like well we kind of saw a little bit of a recovery at this point now let's look at a little bit at ethereum and what's happening so let's see so pretty much ethereum front um we had the scare before uh we saw where the supports were before as well so um here was a good point where you know i was kind of saying that a few of my friends they actually managed to put some buy orders in and got them filled so these are the kind of spike crashes saw in ethereum and this happens a lot more on ethereum than on bitcoin so you guys you see like there's two kind of spikes downwards and this is mainly due to the fact that ethereum has more leverage trading going on there's more leverage on here the markets are a little bit more volatile as especially if ethereum if you think about it bitcoin moved up five times ethereum on the other hand moved up 15 times right so you definitely expect a lot more volatility there and the market cap is smaller meaning that there's a lot more brittle markets that being said of course i really um one thing that i didn't mention is that on these spikes down if people are on leveraged positions they can get heavily heavily screwed over once the market back moves back up so let's say for example if like if you if a placeholder takes on a position at i say 1700 and it drops to 1300 right their 4x or 5x leverage position could get liquidated so they're forced to sell at this point which is pretty much the lowest point of these candles so this is something you have to be very watchful for and we did take a look at kraken exchange which did actually have prices dropping to around 700 so this is a situation where leverage is becoming very very dangerous at this point um you just you guys just need to understand the risks i mean obviously if you 5x leverage you 5x gains but you can also 5x the losses too and that's something very something very important to remember at times like this when we have a lot of volatility especially a lot of these spike volatility that happens within a one or two hours and something that happens always all the time in crypto is that the exchange will never call you when you're being liquidated there's no such thing as a margin call or a physical call right we're beyond that exchanges in crypto just liquidate you and boom that position is gone so just be very very careful at this current point so um bradley um heiferly says don't get liquidated it happens and something that we always say in crypto right is you know if you just enter crypto you know just go watch some youtube videos they'll teach you how to 100x leverage you'll get wrecked and then come back again and learn crypto the proper way right not to throw shade on youtubers i i mean i got quite offended by that too when people said oh just watch video youtube videos all youtube is good for is teaching people how to leverage trade not true i've been trying to kind of warn people that for the longest amount of time but that being said of course um sometimes in crypto it's necessary to learn the hard way and you know that does involve losing a lot of money at the start but that happens right like i've lost a lot of money at the start and you know that's not you know i think i've learned a lot from it and that's okay and i shared it so i think that's the way to do it right this is the way all right uh uh other than that obviously all the altcoins are also bleeding out as well there's a pretty big bleed out at the market as a current point you can see definitely some double digit bleed outs and you can probably see around like 80 percent of the coins are in the red at least in the last 24 hours so yes we definitely see some pullbacks on the market but honestly that is a good thing for crypto because for the past few weeks um all coins were going crazy right just take for example mask so i'll show you guys the mask initial twitter offering and it was something that like it wasn't sponsored it was purely um something that i knew that people were doing in china like i saw these chinese tutorials on how to make a twitter account just to get into mask and people were making bots for this right they were like there were malicious actors also trying to like kind of fool the system so that they can get more allocation on mask but yeah mass just went up like crazy unfortunately i didn't get anything at all and i'm pretty salty about it but i think from my understanding the coin was sold for less than a dollar and now it's at 13 dollars right now which is kind of crazy it's a drop by 50 percent which is you know which is one of the reasons why i don't speculate initially when i coin lists so when i coin first list you don't speculate but um when it's during the kind of pre-sale period that's when you can you know buy it for a dollar and then it goes to 13 right now which is still 13x gains right which is kind of crazy it kind of salty i didn't get it unfortunately you know i kind of i kind of wanted to do it last episode but um i got a failed transaction and i've actually asked a lot of people around in a box nation telegram group they've also got a failed transaction which kind of begs to wonder did bots take the entire allocation because if that is the case i will be super salty and angry but anyways it's like it's almost like the playstation 5 situation if you guys know about that or like with the the mining cards the 3080s that were coming out like you try to get it you try to get your allocation but bots just take it like four seconds before you god damn it god damn those bots but anyways um that's kind of the the ico mania that's kind of like a um example of the ico mania that's happening recently and you know um we'll talk a little bit about the launch pads poker starter and trust drop in a sec because the projects are also booming quite quite a lot to say the least and this is one of the most fertile markets in the world i think it's it's one of the places with the most amount of infinite um most amount of innovation but it's also one of the markets with the most amount of fluff as well so anyways we'll talk about that in a sec let's finish up on the um let's finish up on everything here so anyways that's kind of the take right now all coins are also kind of uh mostly kind of down a little bit but um leading that is zk swap but the numbers are very aggressive for zk swap because they did an airdrop so a one-to-one airdrop which meant that people who hold who held um zk swap prior to the airdrop got double but that being said um zk swap prices were around nine dollars prior to the airdrop so if you have that because you got the double the supply doubled that would be around 4.75 so it's still below the kind of the numbers before the airdrop so it still did dump a little bit on that front so i think it's a situation where yeah a lot of people were like on last stream were seriously asking me about zk swap yet again it's um it's hype right um it's something that i'm glad that there is hype but at the same time hype can be very very dangerous um so my full disclosure on this is that i got into zk swap relatively early this is when um i told you about it i actually did a video about zk swap telling you guys all about it this my entry price was around 40 cents so right now it's at 3.8 and there are two airdrops before that so technically my my effective entry point price is around 15 cents if you factor in the two airdrops before that actually probably not i mean it's it's probably 10 cents never mind 10 cents um but anyways it's pretty much that same sense here now obviously people um probably can be fearful in this market i mean obviously when the market bleeds out like this people can go hysterical um and it's hard it's hard and uh you know like i feel like right now if you ask me what i feel right i feel bad for those people who are new and don't understand what's happening with these markets and don't understand risk how to risk manage like i feel more bad than for them than for myself when i see my assets decrease in value right obviously in the morning i look at um um there's apps like zirion app if you guys haven't used that that tracks your wallets and it gives you a rough exproximal idea of how much all your coins are worth and yes it did go down for me by 10 plus and it look it feels like shit in the morning right i can i can swear here right like you know when a 10 drop like that you can kind of swear it does feel like shit but i've dealt for it so many times i don't really care about much anymore to be honest but i do actually care for all the people who don't know what they're doing and then they get wrecked and they do put a house on it or something like that so i do feel bad kind of bad for those people but that being said it's crypto i think you know i've been thinking the philosophy here is you got to learn it the hard way and i'm glad that the market did move up and down so now people can people can be more rational and risk managed properly i think that is it you know i've never i've always said this channel is not financial advice i'm definitely not a financial advisor but i think people who don't understand how to manage assets really need to seek out a financial advisor to help them plan there it's not they're not too useful to be honest like i've sought professional financial advice from certified financial advisors in the past and i definitely did not do what everything they said right so i'm not trying to say that they're the most useful thing in the world but it did provide some foundation for me to rationalize how to plan my strategy and what sort of risk and for me to understand more about the risks that i'm taking in this space so there you go um um that's funny that's funny that's funny all right so um yeah definitely a lot of talk by trump 2024 coin all right so um let's go very quickly for the news and then we'll go for some of the jokes around so let's get let's take a very quick look and everything's happening um okay so india fud always happening so indian banks put crypto trader accounts under the microscope oh i mean there's always this talk about india trying to ban cryptocurrencies this even happened in 2017 i still remember india ban being a big thing and then i asked my friends in india yo is this really happening and they're like it's a very early draft and it's very likely unlikely it'll get passed so uh for me when i look at this you know obviously india and other big nations they want to track cryptocurrency accounts i think this is something that's going to happen throughout the world we saw that happen in china we saw that happen in india it's definitely going to happen at some point in the u.s because of the way cryptocurrencies at its root at its root design is that it frees people from the governments and if you're a government you know if there's someone there's a currency out there that's freeing people away from your centralized currency there's some obvious responses right read between the lines so um it's pretty pretty logical that something like this will be set up i mean um there's definitely a lot of regulatory guidelines and issues something that we saw in asia is that once issue these guidelines are issued though it actually becomes much easier for big banks to accept it so for example dbs in asia they're coming out with crypto services so this is actually very good because if you're a crypto trader and you don't want to get your account closed then probably dbs would be a good option for you not showing dbs too much but i'm just saying you know the first ones to actually be bold and take a stand they're the winners here so i guess i guess you know people are a little bit salty you know we got karfik karnas says banning bitcoin will be a big back back step in india in the international community i hope leaders they take positive steps to ensure um to regulate cryptocurrency space in india don't ban just regulate so there's definitely a lot of cause for that we'll have to see what the effective um um what is effectively happening i do know that india has it's becoming a very big hotbed for cryptocurrency projects um this is very very expected because of the way crypto is a lot more transparent and we saw matic you know i i recently said i was very very impressed with um my talk with sandeep um he was just very very smart um and yeah polygomatic slash polygon um being there but we also have some things like a lot of india incubated projects going on and i think that's super super cool so all right moving on we have um similar along the same lines congress worries crypto used to fund domestic terrorism capital insurrection let's be honest if you're worried about capital insurrection crypto is probably the last place you should look because there's much more obvious sources of that that being said of course obviously um crypto gets blamed for everything negative um yeah again same thing i'm not gonna repeat myself pretty much same thing all right governments probably don't really like crypto in the long run all right um uh okay this one very interesting not too interesting but i've just thought because people love musk he's no longer the richest man in the world after tesla and bitcoin slump oh my god press oh my god media tesla goes down by like eight percent i checked today and then everyone's all over oh my god he's not the richest man in the world dude dude relax relax i don't think he's worried i don't think you should be worried um yet again media and yet again we covered this already elon musk reportedly under sec investigation over dogecoin tweets um all this is from all these rumors are from one tweet by one twitter publication and yeah you nothing's confirmed at this point so just take that with a grain of salt yet again um yeah let's see uh crypto art hits one million within 10 minutes um this is the ugliest shit i've ever seen but hey you know what guys if people love art and they want to spend a million dollars on it i'm not going to stop them i think nfts are a great way of evaluating the value of art and authenticating art that's possible if it's digital if it's real life then it's going to be harder but anyways um i guess it's kind of cool i'm not sure i'm not sure how to feel by this though um i don't know i know give me your thoughts give me your thoughts on what you feel about this art i mean got michael jackson with nipples here connected to a baby uh who is also his body i guess i mean he's a baby on top of uh i don't know i don't know man i don't know we got mickey mouse here he's the hulk he's also had a great meal he just ate captain jack sparrow but anyways whatever whatever all right uh why are people buying crypto art i mean right now the discussion on nft space is crazy and uh look look look look nfts is right now i think what's happening is we definitely have the technology side of nfts sorted out and in fact i'm actually very actively involved in the nft space you guys probably know i've been discussing it for like the last four years right you know engine was one of the projects that i got into very very early on and they are kind of been the the top of the nft space right they invented 11 erc 1155 as a non-fungible as a medium to allow people to use nfts in games now the issue of course is that it didn't take off crazy amounts right in 2017 we thought oh maybe two or three years we're going to get a lot more adoption whilst for me i've kind of felt like there were a lot of good attempts but at the same time nfts for video games has some issues and barriers one of them being that the game design should doesn't revolve around trading items anymore the current meta for most big titles and games and items is the items are locked to the account they don't want people trading them because it gives the developers maximum profit right so i was kind of talking about this and there are many challenges to overcome but at the same time i kind of didn't realize how much people loved nfts right which is for me like i think i was trying to tackle the bigger problem how to get into into the hands of billions but that's going to come it's going to come much slower and people right now they really love cryptocurrency related art um i don't know why half these like animated drifts are selling for the price they are i'm still gonna kind of roll my eyes a little bit on it but i definitely see the potential um the fundamental potential here so i think there's two things right so for me it's definitely not to overplay the value of nfts but at the same time i understand why people love it at the same time because if you're a serious collector having an nft means that you don't have to get your item appraised there's a direct market for it there's provable fungibility there's provable authentic authentic authenticity so this really does matter i'm also helping a project out with um called refinable and we're kind of really looking at how to create the best marketplace out there so um there are going to be a lot more updates on this soon so make sure you guys stay tuned for that as well we also have gme up there gme stocks soar 110 after roying kitty reveals is 5.5 million dollar position i mean gme has been going crazy to say the very least um you know definitely i'm happy that um it has the success that it has right uh let's just say that now some good and bad right obviously this is a big fight and there are so many things that went wrong with gme and some many things that went right with gme now obviously i made the video um pretty much at the top and said i didn't want to get a position into gme and that's because obviously the hype wave is over you know i'm good at figuring that out right so i figured out yep the initial hype wave that's done you know the reason why gme pumps so much is because the people who are shorting it expected a company to go completely bankrupt but the community said no guess what you know not going bankrupt and also those shorts are way out of position right if you're thinking of this as a sports game the people who are shorting gme who fought who wanted to benefit from gme falling or going to zero so melvin capital and friends they pretty much assume that gme is going to go bankrupt so they can borrow a lot of gme shares from the broker from everyone else sell it and they'll never have to return it because hopefully it's going to go bankrupt right but anyways the gme case has brought a lot of kind of um intel into how it works i mean obviously robin hood also suspended trades for gme so i think in terms of the implication here there's two kind of things to read one is that the power of the community it's very very powerful the second of all is that we do need a more decentralized trading platform which is what crypto and decentralized finance is building because at the end of the day you definitely don't want a situation where it's up to oh congress to figure out if oh uh robin hood should have stopped trades right to stop people from buying gme look the problem here is that it should have been decentralized in the first place if it was decentralized no one single party would have ever had the power to stop trades going with free markets you need to allow everyone the markets to be free at all times you cannot have like a one-sided oh you can't buy gme anymore okay then prices will never go up right uh-huh it's if how is that not meant to like the biggest manipulation of the decade right if you want to manipulate stock just stop people from buying it anyways that's that's me being angry but anyways um yeah gme is still up right now um roy kitty definitely made a lot of money 5.5 million dollar position that is pretty huge congrats to keith all right then we have some other news we got one inch announces their expansion to binance smart chain yes that is happening i saw the the the unicorn going through the golden gates of binance smart coin um binance smart chain it's happening guys it's happening i mean bsc has really taken off in terms of community and there's a lot of discussion on that right i mean it's definitely fully reflect reflected in the price of binance coin um it just took off like crazy uh i cannot be more ecstatic i'm still up like majorly on this i mean i told you guys that this was one of my medium bags i was holding um yeah i good i had a good good position into this my entry price was around 18 but yeah it took off beyond my wildest dreams honestly at 200 or something 230 right now so congrats to anyone who who holds bmb i still like i feel like it was a situation where like talking about bsc right just relaying a little bit experience i'm not sure if i guys found this useful or not when binance smart chain first launched it was dead all right obviously it's a new project new coin but like every project that got there or launched on there um didn't have any users because people didn't know how to use it right even though people it's like a one click to change your chain id on metamask it's still it was still hard right so at this point point like i think there was a time when i thought oh what if binance smart chain doesn't work right what if it fails but that adoption took like months it took almost half a year like um i guess it's probably not half a year probably four months for that adoption to slowly happen and this is something that's um if you really want to study network effects in crypto and i think this is very important i'm focusing a lot on learning about these network effects um it took a while to go so this is a situation where you need to have conviction and luckily i did like there were moments in time when i doubted myself and i said maybe this wouldn't work out like maybe projects shouldn't spend their time on buying a smart chain but it was a situation where kind of like i was there early but i just didn't know it was i was that early right i guess if you guys want to think of it that way but anyways um binance smart chain now fully is taking off i mean pretty much every project is moving there now it's a very going to be a very competitive space it's gonna be a lot of fun so anyways there we go um all right we uh we got um smart skill wrestling uh this is from l knight l hym says smart skill wrestling we need pokemon cards nfts for the game a lot of people think this but trading cards actually don't need nfts this is a hard part trading cards i actually think that trade like trading being able to have a worldwide market for trading cards is actually not good there's a lot of gameplay that's related to being able to person-to-person trade a physical trading card there's a lot of fun in that there's also a lot of fun even going to your shop and finding people and socializing people with people and trading that card having a very global marketplace that you can instantaneously trade a card may or may not work for it like you got to think about the gameplay of it like i collected magic cards growing up and i felt like a lot of the fun was with meeting someone in person and trading the card so i think a lot of people need to remember this once you make it digitally once you make it on a blockchain that fun diminishes by a lot especially if there's a very convenient marketplace so you got to find a way to balance this out like how do you give fun like give more fun in the trading process which is something i've been thinking a lot about as well so anyways long rants i'm there so last things i think that's pretty much covers it for the news okay so last thing with the coinbase and how a16z has a huge stake in that man these revenues are still crazy though um you know they definitely reveal some censorship sensitive information like the revenue and deal structure uh ownership structure and yep um it's one of those situations where a16z definitely got very rich from this and i think wall street will take note so that's why i don't think crypto is going to die this year to be honest um you know the people who are in crypto um they can happily say have fun staying poor to everyone else and i think that's still the case right now where a lot the whole industry probably exploded beyond people's imagination right i mean i think if you talk to peter schiff back in 2012 you thought this is just a joke all these exchanges have no value why invest in the crypto exchange um of all things but some people definitely had the insight to do so for example a16z and they made a lot of money on that notice well i think something that was also quite interesting that interested people about the news is that point base actually holds a lot of bitcoin so they hold millions of dollars i'm just get the correct number um for you guys let me just double check i think i close the article um verified users bullish on d5 coinbase bitcoin holdings yeah so they have 300 million in their own personal on the balance sheet so it's pretty good so yeah so they hold 316 million dollars worth of crypto assets on the balance sheet as dated um december 31st so that's definitely worth a lot more now because you know since december 31st we've gone up quite a bit let me see bitcoin prices back on december 31st um so that was a date of a filing that was the value value at the time of the filing but at december 31st bitcoin was only at 28 000 so yeah that's um you can roughly add like a 30 40 percent on top of that so they're probably if they haven't sold they're probably at 600 million dollars and they've held all the way since 2012 um like they've been holding they've been they've had diamond hands for a while so um that's the case right uh okay so now let's talk about um the whole altcoin frenzy right so i feel like this is something that i definitely need to address in episodes like this which is recently all the altcoins have been exploding especially in the lco mania ico mania is back again or the ico space a lot of coins are doing micro raises of around two to three million dollars for the raise and then they launch with only 20 locked and then the coins just spike like crazy so that's kind of the current meta right now for all new coins and new projects and a lot of launch pads and launch pools coming out as well so i definitely want to highlight that um trust swap i think a lot of people are definitely surprised at how trust how well trust swap is doing and i definitely think under jeff it's doing super well uh trust swap was one of those projects that is booming aggressively right now even in a market like this and one of the reasons why is because look at how far trust swap has come right um you know before trust swap was mirror mostly like you know when they started out trust swap was mostly about just transfers between people and with smart locking and smart swapping but recently launchpad has fully taken off and one of the the biggest reasons why you want to have trust swap and stake trust swap is to get into pre-sales so for example recently they have sota which did a 5x to my knowledge modify they got yield coin uh recently they got bit bitcoin vend a lot of um yeah quite a bit of good um projects on that and this kind of demonstrates a need for uh something like this during the ico mania so yet again very strong development on that side and i feel like this is one of the markets which can be good and can be bad right like obviously we want to launch as many new projects as possible and encourage the amount of information and how do you vet them and how do you kind of get more people involved in the process and build that community i feel like that's kind of the biggest value of launchpad is that it allows a community to understand a project rather than to just like ape into it when it lists on the market anyways that's kind of um the the case of everything here but anyways i'm definitely pretty happy about um how these launchpads have gone and where trust swap launchpad is going and that's that's also the same with pokestarter right so i think you know uh yet again there's a huge market for this and pokestarter also is having quite a lot of new projects going on so for example public mint you need to antimatter api swap ethernet and chain guardians coming up as well chain guardians is probably the one i'm looking at the most um this is one that i've actually contacted their founders about and this is one i'm also advising as well for chain guardian so i'm actually pretty happy that they're on um a launchpad so so far so good with um this but i do have to warn people and say that this is definitely very early stage with everything in the space and yeah just do your proper research you guys understand the risks please now okay so last thing i think i do want to talk about um is this one oh actually wait one more thing as well um okay so this one okay so we have sift chain all right so i've been playing with this recently sift chain a lot of people are talking about cross chain assets and this one they've actually finished building so so far what you can do is using sift chain decks you can get your ethereum assets so you connect both wallets which is one is metamask so you connect up your metamask you connect up your kepler kepler kepler kepler kepler wallet um and you can start pegging your coins over so this is something that i've been looking at quite extensively yesterday so i've actually started migrating some assets to be added to the swap so this is kind of like the future of what's going to happen with crypto assets so how why and how this works is that this links ethereum assets say for example if you have e4 you have usdt or you have engine on ethereum you can peg it transfer it over to the cosmos chain you know um cosmos is yet one of those projects that are going to get a lot of attention soon because projects are already launching on cosmos and once you link it to the cosmos chain you can do the exchange there and you can use cosmos to link it to other chains as well so this is the idea of those that cross-chain interoperability coming in but something also quite interesting about sift chain is that they allow a way to reduce your permanent impermanent loss as well so it's kind of kind of crazy i'm in the process of testing it out so i've started to do my first migration of the assets and also i tried to use kepler with my ledger nano so that was a process that took probably the most amount of time just to figure out the transactions and making sure that i know what i'm doing but i expect to see some updates on this soon because i definitely feel like this is something i want to cover because cross-chain swaps that are much cheaper this is going to be some crazy stuff coming on so uh alex tixon says pegging you say huh pegging pegging pegging pegging pegging pegging yeah so i think that's kind of good i mean the the amount of like so so something that i've been struggling with in crypto is just how fast the space moves so it's to a point where right now like a lot of people are asking me do i have enough sleep so last week i think i didn't have enough sleep i i tried to stay up very late um every night because the markets are very lively at night um and i end up not having enough sleep this week is a little bit different i've been taking more naps it's like i'm like a like a six-year-old kid now like i have to take naps but anyways um i kind of like structure my day out so like i have a nap in the middle and then have like kind of two sections and then because the thing is like every day feels like a week in crypto right which means you should technically have seven naps in right every time you wake up and then anyways um but yeah that's kind of how how i'm structuring everything right now and it's uh it's kind of crazy it's kind of super super super super crazy in this space i i wonder how you guys are feeling as well i mean uh why is everyone showing big connect on main chat i have no idea big connect why what's what is big connect what's big connect now hex low big connect uh yo box money check my super um chats unpopular dev opinion all right all right all right all right this is gonna be fun amateur gamer box money unpopular opinion ada is behind other blockchains nfts being used to watch crypto other news dxl dxl did a bsc integration so um i mean ada is ada um i think i've voiced enough opinions about ada um you know both good and bad i'm pretty sure cardinal foundation hates me by now but you know that's life but ada is being showed very extensively on youtube and i definitely see the power of shilling on youtube but that being said of course ada is ada if you've been around for a long time you'll probably know what i mean by that um nfts are being used to wash crypto that's very likely um you know that's the sad part that being said i don't think it's only about washing crypto right i initially assumed that and assume that this trend will die out but i think like with the number of people who want to like i've talked to a lot of people recently and i talked to people who really like collect collecting stuff like this is something that i'm i'll be honest with which is like i'm a guy who's very practical right i'm not a very big collector if i'm in a video game i buy this item because it makes me powerful right now right and i very rarely say i want to collect all of them but i do understand there are a lot of collectors out there like baseball card card collectors like for me like i'm i'm not a magic the gathering card collector like i would almost say that i'm a magic the card magic the gathering card collector but not really like for me it was always about what it would bring me at that time like if this card was very powerful at that time i would use it and i will own it but i'm a practical guy right i don't really keep it if i don't need it for that deck anymore i think that's how i used to trade i'm not the richest person i guess i didn't have the money to be able to collect and just save it for for sentimental value i kind of was limited in my budget which means that if i went for a new deck i would have to sell my old cards to get it that's the part of trading so i do understand that there are people who just like collecting for the sake of collecting and which is what nfts are targeting right now so this is something that you know with game design experience coming in it's about understanding people's mentalities are different from yours which is what i'm in the process of doing just understanding that mentality and how to better cater to these people has become a big kind of target of mine um yeah all right um i think that's pretty much uh uh about it looking at a lot of other chat that's going on right now lots of happening so i'm trying to read the chat we got uh apollo 2021 says um ap um entities need utilities to boost apy for farming i think there's also a lot of talk about uh not just that but also about um defy applications insurance and stuff like that so i think that kind of makes sense uh why not right um there's actually quite a lot of use cases like practical use cases for nfts as well in that case so yeah i think i think there's a lot of growth potential there's a lot of hype which is why there's a there's a lot of kind of like pullback like initially you know when when things have a lot of hype they also have sometimes they get overhyped right and people need to warn people about it but i think it's not necessary right anyways um amateur gamers is lindsey lohan rugged us on her 10k eef nft jesus but i mean lindsey lohan right what do you expect i mean she knows c5 she knows defy right she knows defy don't be don't be racist don't be sexist she knows defy but anyways also i wanted to give a shout out to duck star as well they have quite a few projects that are um going to go up soon so shadows vortex defy and amp net yet again so many of these projects and i'm spending a lot of time this is where i'm spending a lot of my time looking at projects to make sure at least i know what's happening um in this space so if you guys want to check out duck starter as well make sure you check out duck starter and take a look i mean unfortunately the white um uh in three days whitelist closed so just be um if you want to get on the whitelist also get on the whitelist so make sure you understand the whitelist procedure because unfortunately if you don't whitelist sometimes you don't get it so be very very careful about that anyways um that's pretty much it chris christian says do you think engine minecraft project will influence demand much if players adopt it i do think so i think there's all there's also a lot of things coming up on the engine front as well um they're super fast developing i know they have the minecraft they have the unity engine development and i think now the hardest part is figuring out the gameplay around it which is probably a much more philosophical problem but a very necessary problem too so anyways that's pretty much it um pretty much it um that's pretty um i think that's it for today's episode i'm actually getting really hot here today it's like you know hunk of weather is so weird like the morning is cold and uh as like it's we're moving to like noon right now and it's getting super super hot so anyways i think this is pretty much time for me to end the stream i hope you guys are doing well hoping you're surviving this crash this mini crash and taking it well we're above 1500 for ethereum and hopefully we'll see what's happening the action side for bitcoin but honestly i think this is good for the market overall to have this little bit of pullback for people to calm down a little bit because before when bitcoin and eef was moving up people were not calm there was no chill in this market um everything was going crazy and that's always not a good sign um i definitely want to have sustainable growth in this space and not i realize it's not always possible crypto always moves in phases like that but you know uh we'll just have to make do with what we have with that out guys thank you guys so much for checking out this stream um and uh make sure you guys subscribe to this channel the next stream would be on monday um a.m hong kong time but it'll also be that'll be on like like sunday if you guys are in america so anyways we're probably a global channel so the best thing to do obviously is to create the live stream and just guys um take note of the time for your own time zone i know you guys are from everywhere around the world that's a great thing about technology uh right now so it'll be monday march the first for me and it'll be 11 a.m hong kong time let me just create the live stream here bitcoin new live stream let's do a crypto live stream let's kind of very quickly create that got that done copy that and then paste it in this chat so yeah the stream is up let me post it here so that's what it looks like and let me post the link down so for for those of you watching it live right now it'll be in a chat we're coming up very soon and for those of you who are watching this as a recording it will be down in the comment section down below so anyways i hope you guys survive thank you guys so much for donations if you did um that's pretty much it thank you guys so much for checking out i'll find you guys later i like to take the time now to tell you a little bit about everything that's happening in the box mining ecosystem first and foremost if you guys like listening to all that's happening in crypto on the go then i would highly recommend you checking out the box mining bitcoin out of the box podcast and the reason why it's called bitcoin out of box is because we have long interview segments very much exploring the detail of the newest and latest of what's going on in this whole cryptocurrency space whole idea of it is to bridge that gap between knowledge 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